Politics
Implementation Of Naira Redesign Policy, Threat To Democracy – Wike
Rivers State Governor, Chief Nyesom Woke, has described the implementation of the new Naira design policy by the Central Bank of Nigeria (CBN) as a threat to democracy, and frowned against the decision of the national leadership of the Peoples Democratic Party (PDP) to applaud the policy which has inflicted pains of the populace.
Governor Wike who spoke at the PDP campaign rally in Eleme LGA on Friday said the endorsement of the anti-people’s policy portrays the national leadership of the PDP as insensitive to the plight of the people.
According to Gov Wike, the PDP as an opposition party seeking to wrest power from the ruling party ought to defend the interest of the people, and stated that the PDP in Rivers State will not support the CBN policy.
Governor Wike further disclosed that the PDP in Rivers State was committed to alleviating the plight of the people through its people’s oriented policies, and this has endeared the party to the heart of Rivers people.
The Rivers State governor, while speaking at the PDP campaign rally at Emilaghan , Abua Central, in Abua /Odual LGA on Wednesday, also commended the Supreme Court of Nigeria for stopping the CBN from banning the use of the old naira notes of N200, N500 and N1000 after February 10, 2023.
The governor said the decision of the Supreme Court to stop the implementation of the Naira redesign policy will avert the plot of some cabals to thwart the ongoing transition process and save the country’s democracy from derailing, and declared that the Rivers State government will join the three northern states in the suit that is already challenging what the CBN is doing.
“And let me commend my brother states like Kogi state, like Kaduna, like Zamfara state who took it upon themselves to go and challenge the Federal Government at the Supreme Court”, he said.
The Governor urged the people of Abua Odual to vote massively for the candidates of the PDP in the forthcoming general elections in order to attract development projects to the area.
Governor Wike was also, on Thursday, conferred with a chieftaincy title, Okokocho K’ Idomo by the Paramount Ruler of Idoma Kingdom, Agaba- ldu HRM Elaigwu Odogbo Obagaji John Och’ Idoma V.
The title which means the “ Unbreakable One” was conferred on Gov Wike at the Commissioning of a Palace built for the Idoma King by the Benue State Governor, Samuel Ortom.
Governor Ortom and a former Governor of Benue State, Lawrence Onoja also bagged chieftaincy honours from the Idoma Kingdom.
Governor Wike, in his response, thanked the Idoma Monarch for the honour and commended the Benue State Governor for building a befitting palace for the King.
He described Gov Ortom as a patriotic Nigerian and ardent believer in equity, fairness and justice.
The PDP campaign rally earlier held at Asari Toru and Ogu Bolo LGAs, respectively on Monday and Tuesday with the Rivers State Governor canvassing support for the candidacy of Sir Siminialayi Fubara for Governor and other candidates of the PDP in Rivers State.
Addressing stakeholders and party supporters at the events, Governor Wike said the PDP government in Rivers State has performed exceedingly well in the transformation of all sectors of Rivers economy.
He pointed out that voting for Sir Fubara and other PDP candidates would consolidate the developmental strides of his administration which has earned Rivers State a pride of place among the comity of states.
By; Taneh Beemene
The Senate yesterday received the 2026-2028 Medium Term Expenditure Framework and Fiscal Strategy Paper from President Bola Tinubu, marking the formal launch of the 2026 federal budget cycle.
In a letter addressed to the upper chamber, Tinubu said the submission complies with statutory requirements and sets out the fiscal parameters that will guide the preparation of the 2026 Appropriation Bill.
He explained that the MTEF/FSP outlines the macroeconomic assumptions, revenue projections, and spending priorities that will shape Nigeria’s fiscal direction over the next three years.
The letter was read during plenary by the Deputy President of the Senate, Senator Barau Jibrin (APC, Kano North), who urged lawmakers to expedite consideration of the document.
“It is with pleasure that I forward the 2026 to 2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper for the kind consideration and approval of the Senate.
“The 2026 to 2028 MTEF and FSP were approved during the Federal Executive Council meeting of December 3, 2025, and the 2026 budget of the Federal Government will be prepared based on the parameters and fiscal assumptions therein,” the President stated.
Last week, the Federal Executive Council approved the fiscal projections, pegging the oil benchmark price at $64.85 per barrel and adopting a budget exchange rate of ?1,512/$1 for 2026—figures expected to significantly shape revenue forecasts and expenditure planning.
After reading the President’s letter, Jibrin referred the document to the Senate Committee on Finance, chaired by Senator Sani Musa (APC, Niger East), with a directive to submit its report by Wednesday, December 17.
The Senate adjourned shortly after to allow committees to commence scrutiny of the fiscal framework and continue the ongoing screening of ambassadorial nominees.
Tinubu’s communication to the Senate came less than 24 hours after he transmitted the same MTEF/FSP documents to the leadership of the House of Representatives.
The letter was read on the House floor by the Deputy Speaker, House of Representatives, Benjamin Kalu, who also urged timely legislative action as required by law.
The MTEF and FSP are statutory instruments mandated by the Fiscal Responsibility Act and serve as the blueprint for Nigeria’s annual budgets.
They outline the government’s fiscal stance, macroeconomic assumptions, revenue frameworks, projected deficits, and sectoral priorities over a three-year period.
The Tide reports that approval by the National Assembly is a prerequisite for the executive to present the Appropriation Bill for the next fiscal year.
In a statement on Saturday, the former Senate Leader stated that the allocation of nominees across states and geopolitical zones falls short of the constitutional requirement for fair representation in the composition of the Federal Government.
The ex-Senate Whip warned that allowing the list to pass could deepen ethnic suspicion at a time when the administration should be consolidating national unity.
He highlighted disparities in the spread of nominees, noting that while some states have three or four slots, others have none. He also cited the inclusion of Senator Adamu Garba Talba from Yobe, who reportedly died in July.
“The entire North-East states have seven nominees in the list. Further checks revealed that the South-West geo-political zone has 15 nominees, while North-West and South-East have 13 and 9, respectively.
“North-Central region has 10 nominees in the list of career and non-career ambassadorial nominee while South-South parades 12 nominees,” Senator Ndume said.
According to him, such imbalances could heighten tensions and undermine Section 14(3) of the Constitution.
“My sincere appeal to President Tinubu is to withdraw this list. At this critical juncture in his administration, he should avoid missteps that could undermine national unity and foster ethnic distrust.
“I know him to be a cosmopolitan leader who is at home with every segment and stakeholder in the country. He should withdraw that list and present a fresh set of nominees that will align with the spirit of the Constitution on the Federal Character Principle,” Senator Ndume added.
He accused the legislators of undermining the sanctity of the legislature and acting as instruments of destabilization.
“The members of the Rivers State House of Assembly have, by their actions since they assumed office, shown that they are political puppets and a clog in the wheels of democratic progress,” Comrade Ememobong stated, adding that “They will go down in history as enemies of democracy and those who made mockery of the legislature.”
“So the easiest way to describe their action is a defection from APC to APC,” he said.
Comrade Ememobong announced that the party would deploy constitutional provisions to reclaim its mandate from those who have “ignobly and surreptitiously” abandoned the platform on which they were elected.
“Consequently, the PDP will take legal steps to activate the provision of the Constitution of the Federal Republic of Nigeria (1999 as amended) to recover the mandate gained under the banner of our party which these people have now switched to another platform,” he said.
He urged party members in Rivers State to remain calm and steadfast.
“We urge all party members in Rivers State to remain faithful and resolute, as efforts are underway to rebuild the party along the path of inclusiveness, fairness and equity,” Comrade Ememobong assured.
