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Soku Oilfield: Again, Rivers Floors Bayelsa At S’Court

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The Supreme Court, yesterday, struck out a suit filed by the Bayelsa State Government over the disputed Soku oilfield belonging to Rivers State.
The apex court said the Bayelsa State Government by seeking the nullification of the judgment of the Federal High Court, delivered in favour of Rivers State, when the Court of Appeal has not even ruled on the matter, was an abuse of court process and forum-shopping.
It would be recalled that the Bayelsa State Government had filed Suit: SC/CV/649/2020 through its Attorney General against the Attorney General of the Federation and Attorney General of Rivers State, after the Federal High Court in Abuja, had ordered it to refund the 13 percent derivation it had received over the years from Soku oilfield, to Rivers State.
Justice Sylvester Ngwuta, who led a panel of seven justices to hear the suit, yesterday, wondered why the Bayelsa State Government decided to file the suit at the apex court, whereas steps were being taken to challenge the judgment of the Federal High Court at the Court of Appeal.
Ngwuta observed that the Bayelsa State Government was jumping the gun and its action was tantamount to abuse of court process.
He asserted that there was no way the Supreme Court could make pronouncement on a judgment that was given by a Federal High Court when the appellate court has not done so.
Ngwuta explained that the Supreme Court does not have jurisdiction on a matter relating to a High Court.
To this end, he directed the Bayelsa State Government to take its grievances to the Court of Appeal.
It was on that basis that the counsel to the Bayelsa State Government, Kemsauode Wodu, applied for a formal withdrawal of the suit, and it was struck out by the Supreme Court.
It would be recalled that Justice Inyang Ekwo of the Federal High Court, Abuja, while delivering judgment in Suit Number FHC/ABJ/CS/984/19, filed by the Attorney-General of Rivers State against the National Boundary Commission, based on documents from relevant government agencies, had declared that the Soku oilfield belongs to Rivers State.
Ekwo had noted that the failure and refusal of the National Boundary Commission to rectify the admitted mistake in the 11th Edition of the Administrative Map of Nigeria since 2002, which erroneously showed St. Batholomew River instead of River Santa Barbara as the interstate boundary between Rivers and Bayelsa states, was a breach of the commission’s statutory duty and flagrant disobedience of the order of the Supreme Court contained in its judgment delivered on 10/7/2012 in Suit Number SC.106 /2009.
The judge explained that the continued reliance on the said defective 11th Edition of the Administrative Map of Nigeria by the other government agencies/statutory bodies, particularly, the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) and the Accountant General of the Federation in the computation of revenue accruable to Rivers State from the Federation Account, has resulted in the continued unjust denial of derivation funds accruing from the Soku oil wells situate within Rivers State to the detriment of the government and people of the state.
Ekwo, then directed that notice be served of the decision of the court on the Revenue Mobilisation, Allocation and Fiscal Commission and the Accountant General of the Federation.
The judge said that the National Boundary Commission cannot unilaterally delineate boundaries between Rivers and Bayelsa states after the Supreme Court judgment on the matter, and also dismissed an objection to the suit raised by the National Boundary Commission because it lacked merit.

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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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