News

Nigeria Facing Existential Threat, W’Bank Warns FG

Published

3 years ago

August 12, 2022

The World Bank has urged the Federal Government to remove the current fuel subsidy regime, saying Nigeria might be facing an existential threat due to the continued payment of trillions of naira on the subsidy.
The Senior Public Sector Specialist, Domestic Resource Mobilisation, World Bank, Rajul Awasthi, gave the admonition at a virtual pre-summit, last Wednesday.
Awasthi said Nigeria’s already low revenue would continue to drop if the country failed to optimise its tax system and focus on other areas to boost its revenue.
The World Bank official said: “Nigeria has the largest economy in Africa and the largest country in Africa by population, so it is critical to Africa’s progress. There is no doubt about that.
“But the government of Nigeria, from the public finance perspective, is really facing an existential threat. Let’s not downplay the situation. That is the actual reality.
“Nigeria is 115th out of 115 countries in terms of the average revenue to Gross Domestic Product ratio. Despite the oil prices rising the way they have been net oil and gas revenues have been coming down because of the tremendous impact of the subsidy.
“So, what is going to happen in 2022? The federation’s revenues are going to be significantly lower. They are already very low, and Nigeria is already the lowest in the world out of 115 large countries and this year, it’s really going to be lower than what it was in 2020 because of the debilitating impact of fuel subsidy,” he stated.
Speaking on how to tackle the existential threat, Awasthi said in the non-oil sector, Value Added Tax (VAT) compliance gaps were immense, adding that they needed to be breached.
He also called for the rationalisation of tax expenditures.
He further stressed the need for technology deployment in tax administration and data sharing between the Federal Inland Revenue Service (FIRS) and the states’ internal revenue services to boost the revenue from personal income tax.
The International Monetary Fund (IMF), in March, projected that Nigeria might spend 93percent of its revenue on debt servicing in 2022.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, later said about 119per cent of the country’s revenue was spent on debt servicing in the first quarter of 2022.
Zainab further stated that the Federal Government might spend N6.72trillion as fuel subsidy in 2023.

News

HoS Hails Fubara Over Provision of Accommodation for Permanent Secretaries

Published

2 days ago

February 2, 2026

The Tide

The Head of Service (HoS) of Rivers State, Dr. Mrs. Inyingi S. I. Brown, has commended Governor Sir Siminalayi Fubara, GSSRS, for approving befitting accommodation for Permanent Secretaries in the state.

This commendation was contained in a press release made available to newsmen in Port Harcourt.

According to the Head of Service, Governor Fubara has continued to demonstrate uncommon commitment to the welfare of civil servants in Rivers State, stressing that such gestures underscore his people-oriented leadership style. She urged civil servants across the state to remain supportive of the governor’s administration in order to sustain good governance and effective public service delivery.

Speaking on behalf of the Body of Permanent Secretaries, Dr. Brown congratulated Governor Fubara on the occasion of his 51st birthday, describing him as “a Governor who leads by serving.”

She further praised the governor’s service-driven and people-centred leadership approach, noting that it has significantly contributed to institutional stability and improved efficiency within the state’s public service. Special appreciation was expressed for the approval of a befitting accommodation complex for Permanent Secretaries, which she said reflects the governor’s commitment to staff welfare and enhanced productivity.

As part of activities to mark the governor’s birthday, the Body of Permanent Secretaries announced the sponsorship of 329 Joint Admissions and Matriculation Board (JAMB) forms for indigent students across the state.

A breakdown of the initiative shows that 319 forms will be distributed across the 319 political wards in Rivers State, while five forms are allocated to non-indigenes and five forms to persons living with disabilities.

Interested applicants are advised to contact the Office of the Permanent Secretary, Ministry of Education, for further details.

The Body of Permanent Secretaries wished Governor Fubara continued good health, divine wisdom, and greater accomplishments in his service to the people of Rivers State.

By John Bibor

News

Allegation of Disrespect to President Tinubu Unfounded — Rivers Government

Published

2 days ago

February 2, 2026

The Tide

The attention of the Rivers State Government has been drawn to a statement credited to an acclaimed Rivers State chapter of the National Youth Council of Nigeria (NYCN), purportedly authored by one Bestman Innocent Amadi, alleging that the Governor of Rivers State, His Excellency Sir Siminalayi Fubara, GSSRS, removed the official portrait of the President of the Federal Republic of Nigeria, President Asiwaju Bola Ahmed Tinubu, from the Government House, Port Harcourt.

For the avoidance of doubt, the Rivers State Government wishes to categorically state that there is no policy, directive, or intention on the part of the government or the Governor that disrespects the President of the Federal Republic of Nigeria or undermines the authority of the Federal Government.

On the contrary, the Rivers State Government, under the leadership of Governor Siminalayi Fubara, currently enjoys a robust, cordial, and collaborative relationship with the Federal Government, President Bola Ahmed Tinubu, and the Renewed Hope Agenda—a partnership that is already yielding positive and tangible benefits for the people of Rivers State.

Consequently, the insinuation that the Governor acted out of “ingratitude” or “disrespect” is misleading, irresponsible, inflammatory, and entirely unsupported by verifiable facts, and should therefore be disregarded by the public.

It is regrettable that a body expected to promote youth unity, peace, and responsible engagement would resort to incendiary language, personal attacks, and unsubstantiated claims capable of overheating the polity at a time when Rivers State requires calm, dialogue, and mature leadership.

The Rivers State Government therefore calls on well-meaning members of the public, particularly its esteemed and hardworking youths, to disregard and dissociate themselves from individuals or groups bent on advancing divisive rhetoric and falsehoods for political purposes.

Rivers State belongs to all of us. Political differences must never be allowed to override truth, civility, peace, and the collective pursuit of progress.

Members of the public are further urged to remain vigilant and avoid lending credence to inflammatory statements or the activities of fifth columnists pursuing dubious agendas aimed at sowing discord.

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News

Rivers Government Dismisses Allegations of Disrespect to President Tinubu

Published

2 days ago

February 2, 2026

The Tide

The Rivers State Government has dismissed as unfounded and misleading allegations that Governor Sir Siminalayi Fubara removed the official portrait of President Asiwaju Bola Ahmed Tinubu from the Government House in Port Harcourt.

In a statement issued on Tuesday, the state government reacted to claims credited to an acclaimed Rivers State chapter of the National Youth Council of Nigeria (NYCN), describing the allegation as false, irresponsible, and unsupported by any verifiable facts.

The government clarified that it has no policy, directive, or intention that disrespects the President of the Federal Republic of Nigeria or undermines the authority of the Federal Government. It emphasized that Governor Fubara maintains a cordial, respectful, and collaborative relationship with President Tinubu and the Federal Government.

According to the statement, the relationship between Rivers State and the Federal Government has grown stronger under the Renewed Hope Agenda, with tangible benefits and positive impacts already being felt by residents of the state.

The Rivers State Government described insinuations that the governor acted out of “ingratitude” or “disrespect” as deliberately provocative, noting that such claims are capable of misleading the public and unnecessarily heating up the polity.

It further expressed concern that an organization expected to promote youth unity and peace would engage in what it termed incendiary language, personal attacks, and unsubstantiated accusations at a time when the state requires calm, dialogue, and responsible leadership.

The government called on well-meaning members of the public, especially the youths of Rivers State, to disregard the claims and dissociate themselves from individuals or groups spreading divisive rhetoric and falsehoods for political purposes.

Reaffirming its commitment to peace, unity, and progress, the state government stressed that political differences must never be allowed to override truth, civility, and the collective interest of the people.

Members of the public were also urged to remain vigilant and not give attention to inflammatory statements or individuals described as fifth columnists bent on causing division within the state.