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Wike Challenges FG On Foreign Loans …As Mimiko Inaugurates Rumuola Flyover
Rivers State Governor, Chief Nyesom Wike said that Nigeria has enormous resources, if well managed, can change, not only the fortunes of the country but the life of every Nigerian.
He has, therefore, challenged the Federal Government to show evidence where it has deployed all the money borrowed from external creditors.
Wike made the challenge at the inauguration of the Rumuola Flyover Bridge that was performed by the former Governor of Ondo State, Dr. Olusegun Mimiko, yesterday, in Port Harcourt.
The governor stated that his administration was propelled by love and commitment to service, which was why it is working assiduously and deploying the state’s resources judiciously, for the good of Rivers people.
“It is very clear that governance is not by magic. It is all about commitment. It’s all about your love for your people and your country.
“This country has enormous resources to change the lives of our people. Nobody should give excuses. Like we would always say, if you don’t have it, you don’t have it.
“So, all these stories that you borrowed money from here, and there, let us see what the money is being used for. If we borrowed money, we are showing Rivers people what we used that money to do.”
Wike said he is preoccupied with the duties of governance and rendering service to the people who elected him.
According to him, his best reply to the opposition is the evidence of the quality projects that his administration has continued to deliver.
It is clear to them, he said, that the Peoples Democratic Party (PDP) controlled state government has performed creditable well.
Aside the numerous roads completed and ongoing, Wike explained that his administration has within two years period delivered nine flyover bridges, which are handled by Julius Berger Nigeria Plc.
“This government has done well. This PDP government has done well.
“Our contractor is Julius Berger Nigeria Plc. We are competing with Federal Government that is using Julius Berger. Ask them how much it is to pay Julius Berger.”
He further continued: “None of these flyovers cost us less than N7billion. Now, the average of N7biilion into nine and the other roads done by Julius Berger Nigeria PLC and the quality they give; I’m happy and proud to associate myself with a company that gives the best as far as construction is concerned. I can move about in this state and country proudly.”
Speaking further, Wike warned criminal elements who steal manhole covers on major roads and on the flyovers bridges to desist from their nefarious activities.
He described those criminals and their sponsors as enemies of the state because they are sabotaging the good works that have been achieved to make motoring pleasurable with the state’s resources.
“Let me warn those who steal the cover of the manholes. You know when you take actions, people bring ethnic colouration. Those of you who are stealing the cover of manholes, if you like come from anywhere, if anybody want to sabotage us, we will tell you how saboteurs are treated.
“We cannot do this road construction and you come to sabotage us by stealing to disappoint us, to make people have accident.”
Wike also spoke about the need for his successor to be one who will not only sustained the current pace of development but outperform him.
He pointed out that such person must rise above selfish pedestal and be ready to defend, and protect the interest of the state against all odds.
Performing the project inauguration, former governor of Ondo State, Dr. Olusegun Mimiko, said that Wike has proved himself worthy his sobriquet: “Mr. Projects!”.
According to him, those who feel unsettled by Wike’s words and actions cannot take away the fact that he conceives projects, plan projects, delivers projects because he loves projects.
“Some see governance or being in government as an end in itself, you have deployed your limitless energy, by these accomplishments, to demonstrate that governance is a means to an end; the improvement of the lives of our people.”
Mimiko also spoke about the need to restructure Nigeria because it was an imperative means to a just, more productive and more prosperous nation.
He noted that restructuring is also about policies and actions towards getting Nigerian children off the streets into schools for the right kind of education.
According to him, it is also about improved subnational accountability in tackling youth unemployment and general alienation and many more.
“It is also not about Niger Delta oil and gas alone. After all, with the present state of climate change consciousness and concomitant investment in renewables, fossil fuels may sooner than later become truly fossil and out-dated.
“It is about ensuring that all our God-given minerals, e.g., Gold in Zamfara or Osun is optimally exploited for the people, and not unaccountably, by, and for a few elites and their rampaging foreign collaborators.
“It is about a decentralized security architecture that will ensure nimble, versatile, accountable and optimally responsive formations.”
Providing the description of the project, Rivers State Commissioner for Works, Hon. Elloka Tasie-Amadi said the Rumuola Flyover Bridge project that was awarded on July 2, 2020, to Julius Berger Nigeria PLC was completed by August, 2021.
Tasie-Amadi pointed out that within the period the civil works lasted, there were road closures, traffic diversions, grid locks, deployment of equipment and workers.
He also stated that there were inconveniences caused to commuters, support from many good people, particularly the community, and of course payments to the contractors but all of that are over.
“This flyover measures 532m from ramp-to-ramp with the suspended section being 292m long. Service lanes on either side of the bridge are 8.3m wide and 858.4m long. The entire project is adorned with street lighting and traffic control fixtures.
“The foregoing are all visible including the 24 piers under the bridge (24 columns if you may).”
Tasie-Amadi said, before the project commenced, there was only a single carriage bridge which became grossly inadequate for the volume of traffic.
“To address the situation,” he said, “a second bridge was built, service lanes completely reconstructed and expanded and all elements required to ease commute and pedestrian activities were incorporated into the project. That also included but not limited to refurbishment of the old bridge and adjoining streets.
“Please, permit me to cease this opportunity to urge road users and the relevant agencies to ensure compliance with codes and strict adherence to road and traffic signs erected around the area, most notable amongst these are signs which make it unlawful to stop on the bridge and high speed lanes and which require that all commercial vehicles use only the service lanes. The bridge is essentially off limits to commercial vehicles”, he added.
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”