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Rivers Consolidation, Continuity Budget Scales First Reading At Assembly

The 2023 Appropriation Bill, presented by the Rivers State Governor, Chief Nyesom Wike, yesterday, scaled the first reading on the floor of the state House of Assembly.
The state lawmakers had decided to expeditiously and conscientiously deliberate on the fiscal spending legislation in the next sitting of the House.
Earlier, the Rivers State Governor, Chief Nyesom Wike, had presented an Appropriation Bill of N550, 666,987,238.00 for the 2023 fiscal year to the state House of Assembly for consideration.
Wike while giving a breakdown of the budget, said the projected recurrent expenditure is N175, 249, 692, 497, which represents about 36.8percent of the total budget, while the projected estimates for Capital Expenditure is N350, 977, 495, 537, representing about 63.2percent of the total budget.
The governor said the policy thrusts for the 2023 budget proposal christened, “Budget of Consolidation and Continuity,” would focus on delivering economic growth, additional infrastructure and prosperity for citizens.
He noted that the 2023 budget was based on the framework of the state’s Medium Term Expenditure Framework (MTEF), the State’s Economic Strategy Paper (SESP), the national economic outlook and the state’s economic growth projections pegged on the assumptions of crude oil benchmark of $70 per barrel, national crude oil production estimates of 1.7million barrels per day, currency exchange rate of $435.57 to the Dollar, a gross domestic product growth rate of between three per cent, an inflation rate of 13.1per cent and state economic growth projection between 4 and 4.5percent.
He explained that the budget would be funded from FAAC receipts, 13percent oil mineral derivation fund, IGR, Value-Added Tax (VAT), Federal Government’s bridging facility and refunds, commercial bank loans, sale of state assets and grants from international development agencies.
Wike emphasised that the projected recurrent expenditure would be deployed to meet government’s administrative obligations on salaries, pensions and gratuities for civil servants and overheads for the day-to-day operations of the government and Ministries, Departments and Agencies (MDAs).
The governor pointed out that the 2022 capital expenditures posted impressive performance as capital receipts were judiciously utilised to fund infrastructure projects, including roads, bridges, and flyovers as well as investments in human capital development in the areas of education, healthcare and citizen’s security.
According to him, “New projects may not be awarded in 2023, except where such is considered very significant.
“My administration will galvanise efforts and resources to complete all ongoing projects so that the new government can start on a clean slate, unencumbered”, he noted.
He also pointed out that adequate provisions would be made on all aspects of the administration’s priorities, including law, order, security and justice; sustainable physical infrastructure, such as roads, bridges and jetties; and human capital development – education, healthcare, skill acquisition, business development, job creation, women and youth empowerment, agriculture and poverty reduction.
Wike acknowledged the unity of purpose, togetherness and support accorded his administration by the state House of Assembly over the last seven and half years, and assured of his administration’s commitment to use the 2023 budget to deliver more transformative infrastructure and other strategic projects and services to move the state closer to the point of self-sustainability.
In his remarks, the Speaker of the State House of Assembly, Rt Hon Ikuinyi-Owaji Ibani, noted that Wike, had through prudent allocation of resources, put in place a roadmap for the development of the state.
Ibani, who commended the governor for his achievements in the past seven years, noted that his numerous infrastructure projects, would impact positively on the development of the state in future, and assured of speedy consideration of the budget.
By: Ike Wigodo
News
Independence Anniversary: Nigeria Is A Failed Grandfather – Monarch
A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.
The monarch stated this in an interview at his palace in Ikuru Town, yesterday.
According to him, Nigeria would have been a developed country to set the pace in the whole of Africa, considering its numerous resources.
“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.
“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.
“If we’re able to harness all the things we have, even America by now would have respected us”, he said.
While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.
King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so far.
He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.
“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.
“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.
The monarch used the opportunity to wish Nigeria happy independence anniversary.
By: Enoch Epelle
News
FG begins payment of N32,000 pension increment to retirees – PTAD
The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.
In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.
Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.
The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.
The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.
In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.
The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.
“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”
The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.
It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.
The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.
“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.
The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.
News
Nigeria At 65: NOA urges citizens to foster unity, progress
The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the nation as it celebrates 65th independence anniversary.
Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom, gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.
Mkpoutom said it was essential to recognise that the strength of Nigeria lay in its diversity
“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.
“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.
“As Akwa Ibom embarks on another year, it is crucial for all citizens to foster a sense of unity and shared purpose.
“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving way for a brighter future for all.”
The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.
“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.
He urged everyone to contribute positively to the development of a better society.
Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.
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