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Paris Loan Refund: FG Lied Against RSG – Wike

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The Rivers State Governor, Chief Nyesom Wike has declared that the Federal Government did not disburse N34billion to Rivers State as Paris Fund Club Loan Refund, saying that the level of lies, deceit and negative  propaganda by the Federal Government has reached an  embarrassing level.
Wike challenged  the Federal Government  to publish the account where it paid N34billion in respect  of the Paris Club Loan Refund due to Rivers State.
Speaking during the First Session of the 8th Synod Thanksgiving Service of the Anglican  Province of Niger Delta, yesterday, Wike said: “As I speak to you, no N34billion has been paid to Rivers State. I challenge the Federal Government to show Nigerians the account they paid the N34billion
He said that the Federal Government  released N14billion as Paris Club Loan Refund to Rivers State.
According to him, after protests  that the state had been short-changed , the Federal Government released another N3billion to the state, totaling N17billion.
The governor  explained that the state government judiciously  deployed the N17billion and monitored the  use of the local government funds for the  payment  of outstanding salaries.
Wike  accused the Federal Government  of deliberately short-changing Rivers, Akwa Ibom and Delta states by ignoring the approved payment plan.
He said: “I read on the pages of newspapers that Rivers State received the highest amount of the refund of the Paris Club to  the tune of N34billion.  I want to say categorically, that is not correct.
“The President approved that every state and local government should receive 50 percent. They came to say that they cannot pay 50 percent, but they can pay 25per cent. Now, the 25per cent of the 50 per cent, they paid Rivers State Government and local government areas, is N14billion.  They short paid Rivers State, they short paid Akwa Ibom and they short paid Delta States, which are PDP states. “
The governor added: “We are the only three states that were short-changed. They paid all other states completely.  So, we started fighting. We raised alarm, and they said we still have N3billion
“For the remaining of the 25 per cent , they called a meeting.  They now said, we cannot pay you that 25per cent fully. We will pay you part of the 25per cent now, pay part in September, pay part in December.  If they pay part now, part in September,  and pay part in December; then it will mean that they have paid Rivers State Government, N34billion “.
The governor  stressed: “If they say that , we are entitled to N34billion, Okay. Being entitled and paying the money are two different things”.
He assured the people of the state that the Paris Club Loan Refund will be used to pay for the Garrison-Trans Amadi-Elelenwo road, the Woji-Akpajo Bridge and road, the Elelenwo-Akpajo Road and other key projects across the state.
“They should come to Rivers State and see what we are doing with our money in comparison  with the change states, he said.
Speaking further, Wike charged Christians to actively  participate  in the 2019 general elections to determine  their leaders.
He said Christians  must discard the lukewarm  attitude  to governance.
He urged church leaders to mobilise  their members to register  in the  course of the ongoing voters registration.

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

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President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.

Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.

He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.

“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.

He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.

The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”

Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.

He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.

“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.

The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.

Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.

Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.

Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.

Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.

He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.

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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow  …Restates Commitment Towards Veterans’ Welfare

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The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.

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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.

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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.

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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.

?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph,  Port Harcourt”, he said.

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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.

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Fubara Redeploys Green As Commissioner For Justice

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The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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