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FG Spends N2.4trn On Fuel, Lubricant Imports
The Federal Government spent N2.4 trillion on the importation of fuels and lubricants in 2016, according to the National Bureau of Statistics (NBS).
The agency in its fourth quarter (Q4) foreign and merchandise trade statistics released at the weekend, disclosed that about 18.4 per cent of the total cost was used for the importation of Premium Motor Spirit (PMS) during the year under review.
On a quarterly basis Nigeria spent N699.2 billion for the importation of fuels and lubricants, which if retained in the country, could build institutions that would provide jobs for graduates.
The bureau further disaggregation of fuels and lubricants revealed that Premium Motor Spirit dominated fuel and lubricants imports with 20.2 per cent or N469.2 billion, while other fuels and lubricants accounted for the balance of 9.9 per cent during the period.
The bureau said the structure of Nigeria’s export trade is still dominated by crude oil exports, which contributed N2.4 trillion or 81.4 per cent to the value of total domestic export trade in Q4 2016.
The percentage of crude exports to total exports in Q4 thereby decreased to 81.4.0 per cent from 84.3 per cent in Q3, but increased when compared to Q4 2015, accounting for 79.3 per cent of the exports.
It disclosed that Nigeria’s import trade by origin in Q4 showed the country imported goods mostly from China, Belgium, Netherlands, the United States and India. They respectively accounted for N404.1 billion or 17.5 per cent, N356.4 billion or 15.4 per cent, N230.0 billion or 10.0 per cent, N205.6 billion or 8.9 per cent, and N113.9 billion 4.9 per cent of the total value of goods imported during the quarter.
Further analysis of Nigeria’s imports by continent during the period, revealed that it consumed goods largely from Europe with import value of N1, 127.9 billion or 48.9 per cent, adding that it also imported goods valued at N761.9 billion or 33 per cent from Asia and N312.8 billion or 13.6 per cent from the Americas.
The bureau stated: “Import trade from Africa stood at N82.7 billion or 3.6 per cent while imports from the region of ECOWAS amounted to N15.1 billion.
“For full year 2016, Nigeria imported mostly from China with 19.7 per cent of total imports followed by the Netherlands, 11.7 per cent then the USA, eight years.
“With respect to import by continent, Nigeria imported the most from Europe, 46.7 per cent then Asia, 35.8 per cent and the Americas, 12.2 per cent. Nigerian imports from Africa stood at 4.1 per cent of total imports in 2016, with imports from within ECOWAS at 1.2 per cent.”
The total value of Nigeria’s merchandise trade at the end of Q4 was N5, 286.6 billion, or 10.6 per cent above the N4.781 billion recorded in Q3.
“Total export value for fourth quarter of 2016 stood at N2.978 billion, which was 28.3 per cent more than the value of the previous quarter. Total import for fourth quarter of 2016 was N2.308 billion, which represented a decrease of 6.1 per cent with the value of the preceding quarter.
“The much faster rise in the value of exports relative to the rise in imports brought the Country’s trade balance to N671.3 billion during the review period, showing a stark improvement from the negative trade balance of -N136 billion recorded in the preceding quarter.
“This development stemmed from a rise of N656.3 billion or 28.3 per cent, in the value of exports combined with a decline of N150.9 billion or 6.1 per cent, in the value of imports against the levels recorded in the preceding quarter,” it added.
Meanwhile, the Executive Secretary, Lubricant Producers Association of Nigeria (LUPAN), Emeka Obidike, said indigenous blenders are constantly being threatened with the shutting down of their plants and seizure of their consignments.
He said they are also persistently faced with the risk of losing their businesses, corrosion of their goodwill and professional integrity, asphyxiating demurrages and transactions and default in the repayment of facilities.
Obidike alleged that the National Agency for Food, Drugs Administration and Control (NAFDAC) had in many occasions confiscated their consignments and also gone ahead to detain the consignments of importers, insisting on being presented with NAFDAC licences and proof of payment of dues.
He explained that LUPAN members are duly licensed by the DPR to import, store and blend base oil in Nigeria.
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Fubara: Nigeria Needs God-fearing Leaders To Make Progress …Applauds Seventh Day Adventist
Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.
The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of the church at Government House, Port Harcourt.
Fubara who hailed the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria, expressed delight that the Church had over the years, been investing in education at various levels and currently runs two universities in the country.
He commended the church for not only using its institutions to spread the gospel of Christianity but to groom future leaders for the country.
According to him, religion should not be just about defending one’s faith, but also making meaningful impact on the lives of the people.
He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria in the task of producing not only educated people but a breed of God-fearing leaders.
“Our country is where it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation, you’ll go beyond the line and that is what has brought us to where we are today.
“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.
Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society, has also given rise to other problems such as social inequality, poverty, corruption and criminality. According to him, Nigeria needs a system where the average parent could afford quality education for their children and a guarantee that upon graduation, the average child will have the capacity to compete favourably with anybody, anywhere in the world.
“If we have a situation where the little money that you’re being paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices we have today won’t be there,” he said.
Governor Fubara expressed appreciation to the delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.
Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s ministers will be undergoing an empowerment programme to further equip them for the task of herding their flocks and serving the society.
He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.
Kohler disclosed that the Church has over twenty -four million (24,000,000) members and more than 182,000 places of worship, spread across 212 countries of the world.
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Rivers Assembly Approves Fubara’s 2026–2028 MTEF
The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.
This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.
The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.
Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.
Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.
He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.
The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.
During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.
The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.
Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.
Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.
The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.
According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.
Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.
The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.
King Onunwor
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JUNE 12: Democracy Remains Nigeria’s Strongest Path To Unity, Progress, Says Fubara ….Extols Abiola, Wife
Governor of Rivers State, Sir Siminalayi Fubara, has reaffirmed that democracy remains the most effective system of government for Nigeria, given the country’s rich diversity of ethnic, religious, and cultural identities.
In a goodwill message to Nigerians on the occasion of the 2026 Democracy Day celebration, Governor Fubara said June 12 represents far more than a historic date; as it embodies the enduring struggle, sacrifice, and collective aspiration of Nigerians for freedom, justice, and representative governance.
The Governor extended warm felicitations to Nigerians at home and in the Diaspora, paying tribute to the heroes and heroines of the democratic struggle, particularly Chief MKO Abiola, his wife, Kudirat Abiola, and countless others whose courage and sacrifices helped secure the democratic freedoms Nigerians enjoy today.
According to him, “June 12 is a reminder of the price paid for the democracy we enjoy today. The sacrifices made by Chief MKO Abiola, Kudirat Abiola, and many other patriots who laid the foundation for the democratic journey we continue to enjoy today. Their commitment to the principle that power must ultimately reside with the people remains a source of inspiration for every generation of Nigerians.”
Governor Fubara noted that thirty-three years after the historic June 12, 1993 election, Nigeria’s democratic experiment has continued to evolve despite challenges and setbacks.
“Our democratic journey has not been without difficulties, but the resilience of our institutions and the determination of our people have kept the nation moving forward. The ability to express differing opinions, engage in constructive debate, and peacefully choose leaders through the ballot remains one of the greatest achievements of our nation,” he said.
Governor Fubara stressed that democracy provides the best framework for managing Nigeria’s diversity and transforming it into a source of national strength.
“Nigeria’s diversity should never be seen as a weakness. Properly harnessed, it is our greatest asset. Democracy offers us the opportunity to build consensus, promote inclusion, strengthen national unity, and create the conditions for sustainable development and shared prosperity,” he said.
Governor Fubara commended President Bola Ahmed Tinubu, for his commitment to the Renewed Hope Agenda and ongoing efforts aimed at economic revitalization, strengthening security, and deepening democratic institutions across the country.
He reiterated the readiness of Rivers State to continue partnering with the Federal Government in advancing policies and programmes that improve the lives of citizens through infrastructure development, job creation, enhanced security, quality education, healthcare delivery, and good governance.
The Governor further called on Nigerians, regardless of political affiliation, ethnic background, or religious belief, to use the occasion of Democracy Day to renew their commitment to the Nigerian project and the ideals that underpin democratic governance.
“Democracy must not be viewed merely as a periodic electoral exercise. It must be reflected in our daily commitment to accountability, transparency, tolerance, justice, respect for the rule of law, and responsible leadership. As citizens and leaders, we all share a collective responsibility to strengthen our democracy and build a nation that future generations will be proud to inherit,” he said.
Governor Fubara expressed optimism about Nigeria’s future, urging citizens to remain united, hopeful, and committed to the values of peace, dialogue, and national development.
“Together, we can build a stronger, more inclusive, and more prosperous Nigeria where every citizen has the opportunity to thrive and contribute meaningfully to national progress,” he said.
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