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Recreate Rivers Economy As Best Investment Destination, Fubara Charges RSIPA Board

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Rivers State Governor, Sir Siminalayi Fubara, has restated that the resolve is stronger now than ever to create the climate conducive for growth of agriculture, manufacturing, small and medium enterprises, and key services because they are the productive sectors that will put Rivers’ economy on a competitive pedestal.
The Governor, therefore, charged members of the maiden Governing Board of the Rivers State Investment Promotion Agency (GBoRSIPA) to streamline their activities in such a manner that will attract real investors across critical sectors so that the State can become self-sustaining, comparatively.
Governor Fubara gave the charge when he inaugurated members of the six-man Board at Government House in Port Harcourt on Monday.
Those inaugurated are: Lawrence Fubara Anga, SAN, as Chairman; Dr. Chamberlain Peterside as Director-General; and Mrs Tamunoibuemi Life-George, who is to serve as Secretary.
The rest include, Mr Goodliffe Nmekini, Barrister Havey Ideozu, and Baritor Lenusikpugi Kpagih as members.
Governor Fubara explained that Rivers State used to rank first in the comity of states in terms of productive economic activities, which attracted various business interests and made the State a well-groomed investment haven.
But, he expressed regret that the attendant expansion and population growth were not maximally managed because the challenges overwhelmed those who superintendent over business activities then, lamenting that the expected blessings were wrongly channelled, which left the State in very pitiable economic situation.
Governor Fubara said: “We might be celebrating, that yes, we have a very fat allocation. We have been able to improve our Internally Generated Revenue (IGR), but we still have a lot to do; and, that has to do with this agency.
“The purpose of this agency is to give our people – to assure them, that Rivers State can still come back to that enviable position that it once occupied. Those people that were doing business in Rivers State that left, for one reason or the other – that they can still come back.
“We want to see people who intend to come back and invest because Rivers State is blessed – it has oil, the most important item for development today, which is gas, in abundance.
“Look at what is happening in Trans-Amadi Industrial Layout: We can make Trans-Amadi Industrial Layout come back to what it used to be. We can develop the resources that we have in Onne Town. We have Ogba-Egbema gas hub. These are part of the promises we made during our campaigns, and we must fulfill those promises,” he said.
Governor Fubara emphasised that the agency is established to rigorously harness tenable economic and human potentials abundant in the State that can be translated into making Rivers the economic gateway and one-stop- shop for productive economic activities.
The Governor said: “We have waited for this moment for a long time. It is a moment we all have been praying for because we want to leave a State that will be remembered: Rivers State that can compete, and Rivers State that can stand the test of time as a proud State.
“People that are coming here would begin to know that Rivers State is now serious. Rivers State is not about coming here and saying I want to take the side of maybe, I am interested in 10 percent or 20 percent of what you are coming with, that is not the purpose now”.
He explained that Rivers State is about genuine business interactions that will be mutually beneficial to all parties in a sustainable way, insisting that investors desirous of gaining value from their stakes should boldly come to the State for partnerships that will work in the interest of all stakeholders.
He said, “The purpose is to build our State. The purpose is to grow this State economically in such a way and manner that even if we don’t get federal allocation anymore, for example, we can still sustain ourself (as a State) with our IGR.”
Governor Fubara acknowledged that in discharging its responsibilities, the Board will encounter challenges and stiff opposition from those who abhor change but urged the members to brace up and be forthright in their quest to achieve their mandate.
The Governor clarified that the board should not be preoccupied with people who are only interested in real Estate, which seemed to be the current drive now.
Governor Fubara said: “Not just issues of people coming to build houses and other things. I want your concentration to be more on agriculture, (manufacturing).
“Look to find people who are coming in to invest. People that are coming to build factories because it is only when we start production that employment issues will be resolved, (and we will witness economic boom).
“So, please, those things that will solve the problem of unemployment, and promote creation of wealth for the State should be your focus,” he advised.
Governor Fubara further said: “The responsibility of this agency is going to be very challenging because I know they will want to fight back. But, I know that these crop of men and woman have what it takes, and I am very convinced that they are going to lead Rivers State to where we want the State to be.
“The Chairman of this agency is a private legal practitioner and a businessman that has made his name. Let me say it here: let it be on record that I had to beg him to accept the offer. I even had to send emissaries to him to plead with him.
“He said he doesn’t want to get involved with any political thing. I said this is not about politics. You live in Lagos, you have made your name in Lagos. Please, come and help us. We need help, Rivers State needs to be salvaged.”
Governor Fubara charged them to approach their task with an open mind to make a difference, adding that he nurses no doubt that they will make the State proud with the results they will achieve.
The Governor also assured that his doors will remain open, should they require his attention to tackle any challenge in order to get the necessary support to ensure success.
In his acceptance speech, Chairman of the Governing Board of Rivers State Investment Promotion Agency (GBoRSIPA), Lawrence Fubara Anga, SAN, said they consider their appointment as an opportunity to serve among other Rivers people who are willing to be so appointed.
Anga noted the enormity of the task before them but expressed appreciation that even the Governor understands it so, which is why he consulted widely to gather very distinguished, proven and tested personalities, who depict his foresight.
He said: “Your Excellency, we have heard, listened very attentively to your charge, and that charge resonates, I believe, with everybody in this room.
“This is the time, whether we like it not, to many people, it is a time to want to despair. It is a time of problems, and it is also a time of challenges. And everybody has an option: your cup can either be half-full, or half-empty.
“But Your Excellency has decided that the cup of Rivers State shall be completely full. For every challenge, there is an opportunity. And what His Excellency has done is to tell us: go and look for those opportunities.”
Anga reaffirmed that Rivers State, known and still is the ‘Treasure Base of the Nation’, noting that the charge before them is to make that appellation march the reality of what prevails, desirably.
The chairman assured that they shall offer their best by delivering on their mandate but solicited support to work in strong synergy with other organs: ministries, departments and agencies (MDAs) of government, to succeed.
This, he noted, will reduce unhealthy competition and bureaucratic bottlenecks that often frustrate genuine development efforts because of what he described as likely policy inconsistencies.
He said, “The charge is to restore it (State) to be the ‘Treasure Base of the Nation. The charge is to make Rivers State economy probably the 10th or 12th largest economy in Africa, standing on its own. The charge is to turn Rivers State into the Dubai of Africa. That is what you have told us to do.
“It is not going to happen overnight. It is not going to happen just through us as individuals. It is a collective effort. But, we are convinced that with your support, and with the kind of leadership that you have already provided, it is very possible in the shortest period of time to start the transformation to change the narrative. And once the ship has left the port, nobody can stop it.”
Anga further said: “Your Excellency, investors’ monies have choices. No matter how potentially attractive a business proposition is, where there is insecurity, where there is confusion, where there is bureaucratic bottleneck, investors will run away because they have choices.
“And, one of the things your administration is trying to do is to restore security, safety of lives and property; security of tenor, when you buy land, you know that your title is secured because without security of tenor, you can’t get a loan.
“These are the things your administration is doing, which will go a long way to achieving the goal you have set. I am happy, this is a brand new agency, and we don’t have any excuse. What comes out; we are the ones that will shape it,” he emphasised.
Anga also reassured that: “This board will try its best to provide oversight. This board will try and provide the policy guidance. This board will try and use the rich connections it has to reach out locally and internationally (to attract investments).
“But, in all of these, our youths should stop being applicants. We want to create an environment where the unemployed become entrepreneurs, they become employers of labour. We want to triple the Internally Generated Revenue (IGR) of the State from our home grown businesses.
“We are not just looking for people to bring their money from outside. It’s been proven time and again that if the owners of the place don’t invest, outsiders will not come to invest. And so, your charge to us is to make Rivers State attractive for Rivers people. And when Rivers people invest, the whole world will come and invest. That is our task, and we will strive to achieve it,” he assured.

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 2027: Be Politically Neutral, Fubara Tasks Traditional Rulers

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Rivers State Governor, Sir Siminalayi Fubara, has charged traditional rulers in the State to maintain neutrality, ensure fairness and uphold peace in their domains as the country prepares for the 2027 general elections.

Fubara gave the charge on Wednesday while declaring open the 126th,  127th and 128th Combined Quarterly Meeting of the Rivers State Traditional Rulers Council, in Port Harcourt.

The governor said the primary function of traditional rulers is to administer justice and ensure fairness, saying their conduct must not lead to division and unmanageable crises.

“Let me therefore, request, if that is the right word to use, that please, as we are entering into this political season actively, everyone should ensure that your conduct promoted  peace in your place. Your actions should not be what would lead to the division and multiple crisis that we cannot manage as a government.

“I  think with that, we can all live as one and we can also continue to make this progress that we are trying with all our mind, our body and our soul, to ensure that we deliver  to our dear State,” he said.

Fubara urged  the royal fathers to abide by the oath and constitution they swore to before ascending their respective stools,  in the interest of stability and progress of the State.

He also enjoined them  to set aside individual sentiments and place the interest of Rivers State above personal considerations, noting that this principle has guided his own day-to-day governance of the State.

“I want to enjoin everyone to keep aside issues of individual sentiments and ensure that the interest of our state supersedes whatever thing that we have in our mind. This is not just what I’m saying here, it is what I’ve also practiced and displayed in my day-to-day life in the governance of our dear State,” he said.

On the appeal for improved welfare  for traditional rulers, the governor clarified that the delay in actualising some of the requests they made  in the past was not from the government but from the inability of the Council to put its house in order.

Fubara explained that the issue of stipends paid to the traditional rulers by the local government councils,  was a statutory benefit provided for in the constitution and not what a state governor can change by mere verbal   pronouncements.

He assured that he remains a man of his word and will fulfill his promises  to the traditional rulers before leaving office, next year.

He reaffirmed his respect for the traditional institution as custodians of culture and the closest link to the people, thanking them for their prayers and support.

The governor urged the royal fathers to ensure that the combined quarterly meeting  featured fruitful deliberations that will strengthen peace and development in the State.

Earlier, the Chairman of the Rivers State Council of Traditional Rulers and Paramount Ruler of Apara Kingdom, His Royal Majesty, Eze Chike Amadi Worlu Wodo,  expressed  profound gratitude to the State Government for its efforts in  maintaining a cordial relationship with the traditional institution.

Wodo highlighted the importance of traditional rulers in conflict resolution, noting that their closeness to the people places them in a strategic position to mediate in  disputes involving chieftaincy matters, family disputes and land ownership in their respective communities.

The royal father drew the attention of the State Government to some  challenges affecting the performance of the traditional institution, particularly the lack of official utility vehicles and logistical support needed to discharge its responsibilities effectively.

He also appealed for improved monthly stipends and better welfare provisions to reflect prevailing economic realities.

 

 

 

 

 

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Tinubu Jets To S’Arabia For Lesser Hajj  …Unveils Free Healthcare For Pensioners 

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President Bola Tinubu yesterday departed Abuja for Makkah in Saudi Arabia, to perform Umrah (lesser Hajj), an Islamic spiritual exercise involving a pilgrimage to the holy city.

The Airbus A330-200 carrying the president took off at 2:20 pm local time, yesterday.

Tinubu was seen off at the airport by the Governors of Kwara, AbdulRahman AbdulRazaq; Borno, Babagana Zulum; Kaduna, Uba Sani; Sokoto, Ahmad Aliyu; Jigawa, Umar Namadi; and Yobe, Mai Mala Buni.

Also present were the Secretary to the Government of the Federation, George Akume; the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi; and Nigeria’s Ambassador to Mexico, Reno Omokri, alongside other government officials.

Special Adviser to the President on Information and Strategy, Bayo Onanuga, had revealed this in a statement signed Wednesday titled ‘President Tinubu departs Abuja for Makkah to pray for the nation.’

According to the statement, the visit will afford the President an opportunity for spiritual reflection, devotion, and prayers for Nigeria’s peace, unity, stability, and continued progress.

“While in Makkah, President Tinubu will perform the religious rites associated with Umrah, seeking Allah’s guidance and blessings for Nigeria and its people,” the statement said.

Before departing Abuja, Tinubu commissioned some equipment acquired by the Nigerian Air Force for its operations at the Presidential Wing of the Nnamdi Azikiwe International Airport.

The President is expected to return to the country next week after completing the spiritual exercise.

Thursday’s visit to Makkah marks the second time Tinubu is performing Umrah since assuming office.

The President had previously visited the holy city in November 2023, shortly after the Saudi-African Summit held in Riyadh, where he also prayed for divine guidance in leading Nigeria.

The trip to Saudi Arabia is the latest in a series of foreign engagements by the President since he was sworn in on May 29, 2023.

Tinubu has visited more than 30 countries in over 50 unique and recurrent trips.

They include countries across Africa, Europe, Asia, the Americas, and the Middle East, including France, the United Kingdom, the United States, China, India, Germany, the United Arab Emirates, Qatar, South Africa, Kenya, Ghana, Ethiopia, Tanzania, Senegal, and several others, on a combination of bilateral, multilateral, and diplomatic assignments.

Meanwhile, Tinubu has unveiled PenCare, a national healthcare initiative designed to provide free medical services to pensioners, beginning with low-income retirees.

Tinubu, who was represented by the Secretary to the Government of the Federation, Senator George Akume, at the opening of the National Pension Week in Abuja, yesterday, said the initiative formed part of his administration’s welfare package for senior citizens.

PenCare is designed as a national retiree well-being programme aimed at improving access to essential healthcare, particularly for pensioners with limited financial resources.

In his address, themed “Pensions for All: Building a Secure Future Together,” the President said a strong pension system was both a social protection necessity and a pillar of economic transformation under the Renewed Hope Agenda.

He said the pension system could also mobilise long-term domestic savings, deepen financial markets and support productive investments.

Tinubu described pensions as an obligation to workers who had served the country, rather than a favour from the government.

“A pension is not a favour granted by Government. It is a wage earned, deferred and held in trust. It is a promise. And this Administration has resolved that the promise will be kept,” he said.

He added that the success of the pension system should be measured by the security and dignity it provided retirees, rather than the volume of funds accumulated.

“Above all, no Nigerian who has served this nation will be forgotten in retirement. Nigeria will keep faith with those who kept faith with Nigeria,” he said.

The President said his administration had taken steps to restore dignity, security and value to the Contributory Pension Scheme.

He also said he had approved a N758 billion Federal Government Pension Bond to settle accrued pension rights and strengthen the Pension Protection Fund.

“That was not an accounting exercise. It was an act of restitution to Nigerians who served their country and were made to wait for what they had earned,” Tinubu said.

Meanwhile, the Director-General of the National Pension Commission (PenCom), Omolola Oloworaran, has insisted that the June 30, 2027 deadline for pension fund administrators and custodians to complete their recapitalisation remains unchanged.

Oloworaran said the exercise was necessary to strengthen institutions responsible for safeguarding the retirement savings of millions of Nigerian workers.

“We are not changing our minds. The industry must move beyond the growth in pension assets to building institutions strong enough to safeguard the savings of millions of Nigerian workers.

“Size is what we have achieved. Strength is what we now demand,” she said.

 

 

 

 

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  FG Must Address Nigerians’ Concerns On Reforms -Shettima …Warns Against Misuse of AI, Social Media

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Vice President Kashim Shettima has urged the Federal Government to pay greater attention to Nigerians’ concerns about ongoing economic reforms, insisting that public confidence must be built through transparent communication, credible evidence of progress and responsiveness to citizens’ experiences.

Shettima made the call yesterday at The Duke’s Masterclass 2026, held at Transcorp Hilton, Abuja, where he was represented by his Special Adviser on Economic Affairs, Dr Tope Fasua.

The Vice President said the success of the administration’s economic policies would depend not only on their implementation but also on the government’s ability to demonstrate tangible results and address the challenges confronting citizens.

“Government must continue to communicate, however, its policies clearly, demonstrate progress with credible evidence, and listen attentively to the experiences of citizens,” he said.

Shettima defended the economic reforms introduced by President Bola Tinubu, including petrol subsidy removal, foreign exchange market liberalisation, fiscal restructuring and revenue mobilisation, describing them as measures intended to correct longstanding economic distortions and strengthen Nigeria’s productive capacity.

He explained that the policies were designed to attract investment, improve business confidence, enhance the deployment of public resources and establish conditions for sustainable economic growth.

However, he maintained that announcing policies was insufficient without building public understanding and confidence in their implementation.

The Vice President particularly challenged Nigeria’s elite, professionals and middle class to acknowledge the difficulties facing ordinary citizens while explaining the objectives of the reforms.

“Your role is not to defend every government action uncritically, nor to dismiss the concerns of citizens. It is to help create a more informed and constructive national conversation,” he stated.

He urged professionals engaging traders to recognise the pressures confronting businesses and advised those interacting with young graduates to acknowledge employment challenges while encouraging entrepreneurship and innovation.

According to him, constructive criticism and informed public participation are essential to effective governance and the sustainability of economic policies.

“Constructive scrutiny strengthens governance. Informed public participation strengthens democracy,” Shettima said.

He further stressed that leadership required the flexibility to adjust policy implementation in response to evidence and changing economic circumstances without abandoning established objectives.

Turning to the challenges of artificial intelligence and social media, the Vice President warned that technological advances were increasing the speed and sophistication of misinformation, posing risks to public confidence and institutional reputations.

“A photograph can be manipulated, a voice can be cloned, and a video can be fabricated just with a simple prompt on social media to make an individual appear to have said or done something that never happened,” he warned.

Shettima urged public institutions to strengthen information verification, correct false claims transparently and communicate through trusted channels, adding that speed should never take precedence over accuracy.

He also called for improved digital literacy and responsible use of artificial intelligence.

On economic opportunities, Shettima identified banking, financial technology, oil and gas, agriculture, real estate, construction, commodity exports and the creative industry as sectors capable of supporting investment and employment.

He nevertheless acknowledged the need to address unreliable electricity, inefficient transportation, insecurity, limited access to finance and weaknesses in education and public institutions.

He called for stronger domestic production, export expansion and support for small businesses, while urging that economic opportunities be extended to women, young people and rural communities.

In his opening address, the Chairman of Odu’a Investment Company Limited, Bimbo Ashiru, warned that poor leadership decisions and inadequate crisis preparedness could destroy institutional credibility.

“Reputation cannot be manufactured at the point of crisis. It is built over time through our decisions, our conduct, our values and the consistency between what we say and what we do,” he said.

Ashiru noted that geopolitical tensions, technological changes and economic disruptions were making leadership increasingly difficult, requiring organisations to strengthen accountability, transparency and crisis management.

He disclosed plans to extend the masterclass to London in March 2027.

Also speaking, former Commonwealth Secretary-General, Emeka Anyaoku, recounted his involvement in international conflict resolution, particularly negotiations surrounding South Africa’s transition from apartheid and political tensions in Bangladesh.

He stressed that successful mediation required a thorough understanding of the issues dividing opposing parties, the interests of their leaders and the appropriate timing of public communication.

“Because if you communicate the progress prematurely, you might sabotage the whole process,” Anyaoku said.

The Chairman of AXA Mansard and Group Managing Director of Sahara Power Group, Kola Adesina, criticised Nigeria’s persistent electricity challenges, arguing that public institutions and businesses should be judged by service delivery rather than explanations for poor performance.

“Rather than giving people megawatts of electricity, we are giving them excuses,” he said.

Adesina also condemned corruption, inflated public contracts and failures of accountability, warning that such practices weakened infrastructure, damaged public trust and endangered lives.

Meanwhile, the Chairman of the Duke of Shomolu Foundation, Joseph Edgar, explained that the masterclass was designed to equip organisations and individuals with practical strategies for anticipating crises, managing their consequences and protecting institutional reputations.

He said the initiative complemented the foundation’s use of theatre to promote social cohesion and strengthen public engagement.

 

 

 

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