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Approve Not Less Than 10% For Host Communities In PIB, Wike Tells NASS

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The Rivers State Governor, Chief Nyesom Wike, has advocated not less than 10 per cent fund allocation to host communities in the Petroleum Industry Bill (PIB) that is still before the National Assembly.
Wike said it is also necessary that the bill state in clear terms what specific development projects that the allocated fund should be spent on, so that development of host communities can be truly actualised.
The governor gave the charge when the members of the National Assembly Committee on the Petroleum Industry Bill, visited him at Government House, Port Harcourt, yesterday.
Wike stated that oil bearing communities have suffered the loss of their livelihood, good drinking water and their socio-cultural life disrupted because of the insensitivity of the International Oil companies (IOCs).
“It is unfortunate that people produce oil but they live in poverty. I believe that this Petroleum Industry Bill (PIB) committee will make recommendation of how certain percent must be given to the host oil communities.
“There are issues of education and health. Don’t just say 10 per cent to the oil host communities. It must be tied to specific projects so that whoever is in charge will know.
“Let it also not be that host community people will have this money, and you begin to see assassinations among themselves.
“I have found out that part of the problem we have in communities is that they allow these oil companies to divide them. They cause crisis among them; divide and rule. That is the pattern of IOCs, particularly Shell.”
According to the governor, the mistakes found with the act establishing the Niger Delta Development Commission (NDDC) should be avoided because it did not specify what projects the commission should embark on in the Niger Delta.
“This same thing that has happened to the Niger Delta Development Commission (NDDC) should not happen to the issues of host communities in PIB.
“If in the NDDC Act, they were able to tie the money that will be coming to specific projects, it would have developed the people of Niger Delta. And you won’t be having people fainting at the National Assembly.
“NDDC will leave their job and begin to buy vehicles for police, Army, and asphalting barracks. Is it what NDDC is meant to do? That is where we have lost it!”
Speaking further, the governor emphasised the need for the bill, when passed, to be signed, and not go the way of the Electoral Act amendment bill that the president refused to assent to.
“I hope this bill will also not be like the Electoral Act, after you pass it, they’ll keep it for months. Later they’ll say they can’t assent to it.
“Then, the Presidency will throw it back to you, and you will keep quiet. That will then show that what you’re doing is only for the interest of your party, and not the interest of Nigerians.
“Otherwise, you’ll insist that it is signed. I hope you’ll have the courage to do what is right, and this is the time that Nigerians require you to be strong, firm and do what will move this country forward.”
In his speech, the Deputy Chairman of the National Assembly Committee, who led the delegation, Hon Victor Nwokolo Onyemaechi, said the committee was in Rivers State to have town hall meeting with stakeholders to resolve issues of what should be allocated to host communities in the PIB.
“A lot of people have been misinformed about the issue of host communities. Some have said that host communities are related to hostility of the producing communities. But what we have seen today, and in the last four days, have shown to be negative. It has proved negative in the sense that we walked round over 800 meters about three days ago, and they saw that even in dry season, we have to use wood as bridge to get to where Shell is exploring oil and making all their money.
“They also saw the impact of Shell operations to people’s means of livelihoods, where their farmland and palm trees were burnt to ashes. They can feel it and they can see it.
“Today is not a different story. What we saw today is that a community that is known for fishing, as their means of livelihood, has been brought to a standstill. The boats were there, over 40, 50 boats, lying idle because their water has been fully polluted”, he added.
The chairman also commended Governor Nyesom Wike for the rapid infrastructural transformation ongoing in Rivers State.

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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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