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$5.8bn Loan: SERAP Petitions Buhari

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Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “issue an immediate moratorium on borrowing by the Federal Government and the 36 states to address a systemic debt crisis, prevent retrogressive economic measures, and the disproportionately negative impact of unsustainable debt on the poor Nigerians.”
The request followed the recent approval by the National Assembly of Buhari’s request for a $5.8billion loan and grant of $10billion.
Previous approvals in 2021 alone include $8.3billion; €490million, and $6.1billion.
The foreign debt stock of the Federal Government, 36 states, and Federal Capital Territory reportedly stands at $37.9billion.
In an open letter dated December 18, 2021, and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation said: “A moratorium on borrowing would create a temporary debt standstill, and free up fiscal space for investment in Nigerians’ needs, as well as ensure sustainable economic and social recovery from the COVID-19 pandemic.”
SERAP said, “Without a moratorium on borrowing, your government and many of the 36 states may be caught in a process driven mostly by creditors’ needs. This will result in an exorbitant social cost for the marginalised and vulnerable sectors of the population.”
According to SERAP, “Long-term unsustainable debt can be a barrier to the government’s ability to mobilise resources for human rights, and may lead to taxes and user fees that impact negatively on vulnerable and marginalised Nigerians.”
The letter, read in part: “SERAP is concerned about the lack of transparency and accountability in the spending of the loans so far obtained, and opacity around the terms and conditions, including repayment details of these loans.
“While the National Assembly has asked for these details in future loan requests, it ought to have seen and assessed the terms and conditions of these loans before approving them, in line with its oversight responsibility under the Nigerian Constitution of 1999 (as amended).
“If not urgently addressed, the escalating borrowing and looming debt crisis would cripple the ability of both the Federal Government and the 36 states to deliver essential public services such as quality healthcare, education, and clean water to the most vulnerable and marginalised sectors of the population.
“SERAP notes that governments’ ability to protect human rights is inextricably related to the ability to spend needed resources. Growing debt burdens and debt repayment difficulties will have negative impacts on the ability of your government and many of the 36 states to fulfill the basic socio-economic rights of poor and vulnerable Nigerians.
“Sustainable debt management by the Federal Government and state governments will contribute to mobilising resources for human rights and essential public services, and promote a culture of responsible borrowing.
“The Federal Government and many of the 36 states would seem to be in debt distress or at high risk of debt distress. According to reports, the Senate and House of Representatives recently approved the loans of $5,803,364,553.50 and a grant component of $10million under the 2018-2020 External Borrowing (Rolling) Plan of the Federal Government.
“This followed previous approvals this year by the National Assembly of $16.2billion ($16,230,077,718) loan; €1million (€1,020,000,000) loan; and a grant component of $125million loan; $36.8billion, €910million loans, and a grant component of $10million; $8.3billion and €490million loans; $6.1billion, $1.5billion and $995million loans; and $4million ($4,054,476,863), €710million and grant component of $125million.
“Several of the 36 states are also facing a debt crisis, and vicious debt cycles. According to the Debt Management Office, the foreign debt stock of the Federal Government, 36 state governments and the Federal Capital Territory presently stands at $37.9billion.
“The loans from China alone amount to $3.59billion. According to the UN Independent Expert on foreign debt and human rights, Nigeria faces debt service relative to tax revenues that exceed 20per cent, with escalating social tensions linked to poverty and inequality.
“The growing level of borrowing by your government and the 36 states is clearly a human rights issue because when the entire country is burdened by unsustainable debts, there will be little money left to ensure access of poor and vulnerable Nigerians to basic public services.
“While it is critical for the Federal Government and state governments to have sufficient resources to fund their budgets, it is equally critical for governments to substantially cut the cost of governance. Persistent borrowing is neither sustainable nor fair to the Nigerian people.
“SERAP urges you to conduct a human rights assessment of the borrowing by governments since 1999 to address the dire consequences of unsustainable debts on people and communities across the country, and to ensure that borrowing at all levels of government considers the human rights impacts.
“Any such assessment should be conducted in harmony with existing safeguards and mechanisms in order to contribute to informed decision-making and to complement findings from a human rights perspective.
“A human rights impact analysis should serve to ascertain the debts that can be repaid, and the resources necessary to ensure compliance with the obligation of using the maximum available resources for the protection and fulfilment of human rights.
“As the Committee on Economic, Social and Cultural Rights has noted, states parties including Nigeria are under an obligation to devote their maximum available resources to the full realisation of all economic and social rights, including the rights to health, education and water.
“SERAP also urges you to adopt effective measures to address transparency and accountability gaps in spending of loans, and the systemic and widespread corruption in ministries, departments and agencies, as documented by the Office of the Auditor-General of the Federation.
“We would, therefore, be grateful if the recommended measures are taken within 14 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government and the 36 states to comply with our requests.”

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WASSCE: RSG Distributes Science Materials To Secondary Schools

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The Rivers State Government has distributed science equipment and materials to all senior secondary schools across the state to support students during the ongoing West African Examinations Council exams and to strengthen practical learning.

Flagging off the distribution at the Rivers State Senior Secondary Schools Board premises in Port Harcourt, on Monday, the State Commissioner for Education, Dr. Peters Nwagor, said the move demonstrates Governor Siminalayi Fubara’s commitment to improving education standards in the State.

 Nwagor said the materials were approved and provided by the state government specifically to boost the teaching and learning of science subjects, describing science education as the foundation for technological advancement, innovation, and national development.

“No society can compete globally without deliberate investment in science and technology,” the Commissioner stated.

He commended the governor for consistently prioritising the education sector by providing tools needed for effective teaching and hands-on learning.

The Commissioner directed principals to ensure that the equipment are used strictly for practical lessons in their schools, warning that any principal or administrator found diverting, hoarding, or selling the materials wil face disciplinary action under public service regulations.

 Nwagor also warned against examination malpractice,  saying any principal found aiding or encouraging malpractices will be decisively sanctioned.

“We must collectively restore the dignity and credibility of our educational system,” he said.

Also speaking, Chairman, Rivers State Senior Secondary Schools Board, Tony Egwurugwu, urged school heads to make judicious use of the materials for students’ benefit.

He thanked the State Government for providing the resources, and assured that monitoring mechanisms would be put in place to ensure the materials serve their intended purpose.

In his own remarks,  a Board Member for Technical Education, Nwisabari Bani Samuel, expressed appreciation to the governor for prioritising education and acknowledged the Commissioner’s role in advancing education development in the State.

He  said the distribution covers all senior secondary schools in the State and is intended to improve students’ performance in both internal and external science examinations.

Akujobi Amadi

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Fubara Hails Workers’ Resilience, Dedication In Rivers …Hails Tinubu’s Economic Reform 

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Rivers State Governor, Sir Siminalayi Fubara,  has commended workers in the State for their resilience, dedication, and invaluable contributions to development in the State.

 

Fubara gave the commendation during the 2026 Workers’ Day celebration at Isaac Boro Park in Port Harcourt, last Friday.

 

Represented by his deputy, Prof. Ngozi Nma Odu, the governor noted that Workers’ Day, which originated from the struggle for an eight-hour workday in the United States, has evolved into a global event recognising the contributions of workers to national growth and development.

 

He described workers as the backbone of sustainable development, saying no society can thrive without their efforts.

 

Fubara commended Rivers workers for their loyalty and commitment to service, noting that workers play vital roles across key sectors, including education, healthcare, infrastructure and industry.

 

He noted that their contributions have enhanced access to quality education and healthcare, supported job creation, and stimulated economic activities across the State.

 

While acknowledging the economic challenges faced by many workers, including the rising cost of living, Fubara assured that the the State Government remains committed to implementing policies that will enhance workers’ welfare and overall well-being.

 

The governor also hailed the bold and daring economic reforms of President Bola Tinubu which, he said, have stabilized the economy, enhanced foreign exchange liquidity, lowered inflation, and achieved significant growth in the nation’s gross domestic product.

 

He noted that, in addition to raising the minimum wage, the President recently approved new welfare incentives for federal civil servants.

 

“Our economy is on an unstoppable positive path under our President, and it can only improve further for the nation and everyone. Let us continue supporting the policies and programmes of Mr President,” he said.

 

Fubara highlighted the importance of workers in revenue generation and governance, noting that taxes paid by workers enable government to provide security and essential social services.

 

He reaffirmed the State Government’s recognition of labour as a critical partner in achieving its development blueprint, appreciating workers’ daily contributions to building a peaceful, secure, and prosperous Rivers State.

 

The governor urged the organised labour to use the occasion to reaffirm its commitment to the progress of the State, while continuing to advocate for democracy, social justice, and improved welfare for workers.

 

He also expressed gratitude to workers for their service to the State and the nation, encouraging them to remain steadfast in their contributions to development.

 

In his address, the State Chairman of the Nigeria Labour Congress, Comrade Alex Agwanwor, commended Fubara for his steadfastness, genuine commitment, and passion for workers in the State.

 

He highlighted key achievements of the administration, including the implementation of the National Minimum Wage Act, the renovation of the State Secretariat, the reopening of the Rivers State Transport Company (RTC), and the consistent payment of end-of-year bonuses to public workers.

 

Comrade Agwanwor noted that workers, as drivers of productivity, understand the challenges involved in building a prosperous Rivers State, stressing that they are well-equipped to contribute meaningfully to the growth and development of the State.

 

“We have resolved not to continue complaining and lamenting while challenges persist. Instead, we must take the initiative, step out of relative obscurity, and rediscover the mission and destiny of our dear state,” he said.

 

 

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Fubara Pledges Support For Corporate Organisations In Rivers …Says PPP Business Model Responsible For NLNG’s Success

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Rivers State Governor, Sir Siminalayi Fubara, has pledged the  continued  support of his administration for the Nigeria Liquified Natural Gas (NLNG) Limited.

Fubara gave the assurance while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade, who paid him a courtesy visit at Government House, Port Harcourt.

He assured that his administration would continue to contribute its own quota in support of the NLNG.

According to him, the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government.

“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.

“So, the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think  we need to come in to support you, please do not hesitate to call upon us.

“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can  assure you that.  I will also ensure that other units of the government will  liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.

The governor attributed the success of the NLNG to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies.

The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.

The partnership model allows for shared risks, costs, and expertise in the LNG sector.

The governor noted that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence.

According to him, the decision of the Federal Government to allow the multinational oil companies who have the  needed expertise to run the establishment while government plays a supervisory role over it has largely been responsible for its  success.

“I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with  the laws;  ensure that standards are maintained and also ensure that the right people with the needed  expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.

In his opening remark, the new NLNG boss, Mr Adeleye Falade, who led other top officials of the company on the visit, expressed appreciation to the governor for granting them audience, and appealed to the State Government to continue to support the organisation.

“We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.

Falade said the company has continued to work with its host communities to strengthen their  capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact.

According to him, communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model.

He said that beyond community infrastructure, the NLNG  has sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and  Micro Small and Medium Enterprise (MSME) schemes.

These, he said, were designed  to support small businesses, build capacity, and stimulate local enterprise across the state.

Among officials of the company who accompanied the Managing Director were General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations, Dr. Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh.

Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu; Senior Government Relations Advisor, Mrs Kate Allison, and Audio -Visual Advisor, Mr Dawood Ahmed.

 

 

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