News
CBN Raises Interest Rate To 16.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), yesterday, voted to increase the benchmark interest rate by 100 basis points to 16.5per cent, the highest since 2001.
The CBN Governor, Godwin Emefiele, disclosed this while reading the communique of the last MPC meeting of the year, yesterday.
The MPC said the tightening would curb a higher rate of inflation and restore investors’ confidence.
According to a report by Nairametrics, the highlights of the MPC meeting included: increase MPR by 100 basis points to 16.5per cent; the asymmetric corridor of +100/-700 basis points around the MPR was retained; the CRR was retained at 32.5per cent; while the Liquidity Ratio was also kept at 30per cent.
The apex bank had increased the MPR from 11.5per cent earlier this year to 15.5per cent across three consecutive rate hikes.
Inflation rate rose to 21.09per cent in October, 2022 from 20.77per cent in the previous month.
News
Fubara Assures Completion Of Ongoing Projects In Rivers …As Airport Road Bypass Hits 65% Completion
Rivers State Governor, Sir Siminalayi Fubara, has reassured the people of Rivers State of his administration’s commitment to the completion of the various ongoing infrastructure projects located in different parts of the state.
The governor, who gave the assurance last Friday while inspecting the level of work on the new Airport Road Bypass in Port Harcourt, said the project had reached 65 per cent completion stage.
According to him, in spite of recent developments on the political scene, he remains in “high spirits,” and is ready to continue with the task of governance, especially the delivery of projects that will impact positively on the lives of the people.
“I want to assure our people that notwithstanding the situation of things, one thing that I can promise everyone, is that every good work that we have started, by the special grace of God, will continue and we will complete them. We’re in high spirits. Like, we always say, Rivers First,” he said.
Fubara said that his administration conceived the idea of constructing a bypass to the Airport Road to create an alternative route for the communities around the airport and avoid a situation where some of their activities could cause obstruction along the main highway leading to the Port Harcourt International Airport.
“We’ve always had these issues where the community may want to express their anger or dissatisfaction over some activities of the airport authorities, in the process they always block the airport road.
” We thought that in this modern society, such actions are not necessary anymore because whenever it happens, it affects the economic activities of the state. So we liaised with the community and created this bypass,” he said.
The governor, who was conducted round the project site by the contractors, expressed delight at the pace of work on the road, disclosing that the total project will be delivered before October 2026.
News
Fubara Promises To Deliver State Secretariat Early 2027
Rivers State Governor, Sir Siminalayi Fubara, has declared that the State Secretariat Complex which is undergoing massive reconstruction will be ready for use by the first quarter of 2027.
Fubara stated this on Monday after a tour of the multiple and expansive high rise buildings, located in the Old GRA, Port Harcourt.
The governor, who had undertaken a similar tour of the project earlier this year, said he decided to revisit the site to confirm the extent of the job that has been done so far.
“We just did a tour of the renovation of the Secretariat. I have been seeing the outer part of it wearing a new look, but I wanted to really confirm how much job is going on, most importantly, the inside and that is what I just went to inspect myself.
“I think that with the progress of work here, by the grace of God, I believe that by the first quarter of next year, it will be handed over to the government. Like I did promise, every job that we are handling, we will ensure that we put them to completion,” he said.
The Tide reports that the Rivers State Secretariat was constructed in the 1970s, shortly after Rivers State was created in 1967. It is a massive complex consisting of multiple high-rise buildings, including the 17-storey “Point Block”, the 10-storey “Podium Block” along with three other 7-storey buildings tagged “Blocks A, B and C”.
The ongoing renovation is a comprehensive and transformative upgrade aimed at modernizing the entire complex. It involves structural rehabilitation, improved office layouts, installation of modern facilities, and upgrading of utilities to meet present-day administrative standards.
The project is designed to create a more conducive, efficient, and technology-driven work environment for civil servants.
News
Group Hails Tinubu, Chinda Emergence
The 23 For OK & P-BAT Movement, a political pressure group championing the re-election of President Bola Ahmed Tinubu and the governorship ambition of Honourable Ogundu Kingsley Chinda across the 23 Local Government Areas of Rivers State ahead of the 2027 elections, has congratulated both leaders on their victories at the recently concluded All Progressives Congress (APC) primaries.
In a statement issued by the National Coordinator, Amb. Goodluck Braide, who also doubles as the President of the Renewed Hope Multi-Purpose Co-Operative Limited, President Tinubu’s victory at the APC presidential primaries in Rivers State was described as a reflection of his growing popularity and acceptance among Nigerians. The group noted that since assuming office in 2023, the President has implemented bold economic reforms aimed at repositioning the country for sustainable growth, prosperity, and national development.
According to the group, the outcome of the primaries is an indication of what to expect in the 2027 general elections.
The group also congratulated Honourable Ogundu Kingsley Chinda on his emergence as the APC governorship flag bearer in Rivers State, describing the primary election process as peaceful, transparent, free, and fair. It stated that Chinda’s emergence signals increasing political unity among Rivers people across ethnic and political divides.
According to the movement, the APC made a strategic and wise decision in presenting Chinda as its governorship candidate, citing his leadership experience, competence, charisma, and proven capacity as qualities that position the party for victory in the forthcoming governorship election in the state.

Amb. Goodluck Braide, National Coordinator
The statement further acknowledged the role of the Minister of the Federal Capital Territory, Nyesom Ezenwo Wike, praising his political foresight, resilience, and commitment to maintaining unity within the political structure in Rivers State while ensuring the state remains relevant in national politics.
The group equally commended the leadership of the APC National Chairman, Professor Nentanwe Yilwatda, noting that under his leadership since July 2025, the party has witnessed renewed strength, unity, and political growth ahead of the 2027 elections.
It also congratulated the people of Rivers State and Nigerians generally for their continued support and confidence in the Tinubu administration, which it said has made notable progress in promoting national cohesion, social integration, and economic development.
