General
Rivers to Access CBN N15bn Infrastructure Support Fund
By Adedapo Adesanya
The Rivers State Executive Council has authorised the state government to access the N15 billion Infrastructure Support Fund of the Central Bank of Nigeria (CBN) for the completion of three critical projects.
This was disclosed by Mr Isaac Kamalu, the state Commissioner for Finance, to newsmen after the meeting in Port Harcourt, the state capital.
He said that the three major projects are the Oyigbo-Okoloma Road; Chokocho-Igbodo Road and construction of the 10th flyover by the administration at Rumuokwurushi-Elimgbu.
The Commissioner said that accessing the fund could fast track the completion of these projects, considering the benefit of the facility, at a very low-interest rate of 5 per cent repayable within 20 years, with three years moratorium.
“In her deliberations at the Executive Council meeting today, Council approved that the Rivers state government should access the Central Bank of Nigeria Infrastructure Support Facility to the tune of N15 billion.
“You will recall that prior to now, the Rivers state government had accessed funds for these projects.
“However, these funds, even if put together, will not be able to accomplish these three critical projects mentioned,” he said.
Mr Kamalu expressed optimism that the N15 billion facility would be a very good support to ensure that these projects were delivered on time and served the interest of the state.
The council also took the decision to recover dilapidated government quarters from civil servants and illegal occupants, within the old and new Government Residential Area (GRA), Port Harcourt, and reallocate them to competent private individuals.
On his part, Mr Paulinus Nsirim, the state Commissioner for Information and Communications, further explained that the Council took this decision because some of the properties were fraudulently acquired by retired civil servants, through dubious processes of allocation and sale.
According to Mr Nsirim, some of the properties had deteriorated due to the abject neglect and lack of maintenance by the occupants.
“The properties were totally in uninhabitable condition and were converted into commercial and business uses; in some cases, they were sublet to private tenants or were used as poultries, fish ponds, barbing saloons, and other unauthorized uses.
“The Task Force set up by the Rivers state government to look into this matter found that some of these properties were illegally occupied by non-civil servants, some of whom were even non-indigenes.
“This has, therefore, necessitated the recovery of these properties as part of government’s urban renewal programme, with the civil servant – occupants being reallocated to alternative private properties, through financial support provided by the state government,” he said.
He said the recovery of the properties and their subsequent reallocation would form part of the first phase of the ongoing urban renewal programme of the state government within the old and New GRA, Port Harcourt.
General
NUPRC Probes Gas Bubbling in Bille Community in Rivers
By Aduragbemi Omiyale
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced an investigation into a gas bubbling incident in Bille community in Rivers State, but preliminary “deductions and field observations indicate that the gas bubbling may be associated with a subsurface phenomenon that could be linked to a variety of triggers.”
In a statement signed by its chief executive, Mrs Oritsemeyiwa Eyesan, on Thursday, the agency said it was worried about the unfortunate incident, assuring residents that efforts are being made to address the issue.
The commission acknowledged the concerns the “unsavoury development has raised in relation to public safety, the environment, and the health of the populace,” stressing that, “The overall well-being of our communities and the protection of the environment remain paramount to the commission, as they are to government.”
It stated that, “Upon notification of the incident, the commission activated a coordinated technical investigation process in line with established regulatory protocols to assess the nature and extent of the gas seepage, identify source(s) and potential cause(s), and propose immediate and long-term mitigation measures.”
“The investigative study is being conducted in collaboration with stakeholders to ensure comprehensive, fact- based outcomes for long-term sustainability,” it added.
“Detailed geotechnical and geological analyses are ongoing to determine the contributing factor(s) and possible remedies for prompt implementation,” the statement further said.
“The commission assures the Bille community of its resolve to ensure that necessary actions required to address the situation are taken in line with applicable regulations, industry standards and global best practices.
“Once again, the commission commiserates with the Bille community as we work assiduously with all stakeholders to unravel the incident, and enjoins members of the community to maintain the commendable level of responsibility whilst adhering to all safety measures and public health advisories issued by the relevant authorities,” the statement disclosed.
General
Akwa Ibom Denies Plan to Sell Ibom Power Company
By Adedapo Adesanya
The Akwa Ibom State Government has dismissed claims that it plans to sell Ibom Power Company, describing the allegation as false and reaffirming its commitment to reviving the state-owned electricity asset through debt repayment and structural reforms.
In a statement issued on March 18, the Commissioner for Information, Mr Aniekan Umanah, said a report by a Uyo-based tabloid alleging plans to dispose of the company was “a wicked fabrication” that should be disregarded.
“At no time has the government approved the sale of Ibom Power Company as scrap or otherwise,” the statement said, adding that such claims exist only in the “imagination of mischief-makers intent on misleading the public.”
Instead, the government said it is focused on stabilising the company’s operations by clearing legacy debts, including a $9 million facility obtained from Afreximbank several years ago.
According to the statement, Governor Umo Eno approved a structured quarterly repayment plan of $560,000 beginning March 15, 2025, aimed at gradually liquidating the loan.
The government described the move as part of broader efforts to “rescue and reposition Ibom Power Company for sustainable operations,” stressing that the approach reflects a commitment to “revival, stability, and long-term value preservation, not liquidation.”
Beyond debt repayment, the state also outlined ongoing electricity sector reforms anchored on a Private Sector Participation (PSP) framework designed to attract investment while retaining public ownership of assets.
Under the initiative, the government said it has established key institutions, including the Akwa Ibom State Electricity Regulatory Commission and Ibom Electricity Holdings Limited, to strengthen oversight and coordinate state-owned electricity assets. Shares of the holding company have also been vested in the Akwa Ibom Investment Corporation.
The concession model being introduced will allow qualified private operators to rehabilitate, finance, and manage electricity infrastructure over a defined period, with strict performance benchmarks and regulatory supervision.
The government said the framework is structured to ensure that “the State will retain ownership and strategic control of all electricity assets,” while transferring operational and commercial risks to private sector participants.
It added that the reform programme is expected to improve reliability, resolve longstanding challenges, and promote a more efficient electricity market without placing additional fiscal pressure on the state.
On recent power outages across parts of Akwa Ibom, the government noted that electricity transmission and distribution currently fall outside its direct control. However, it said efforts are ongoing to engage relevant authorities to address the disruptions and improve supply.
The statement also criticised the publication that carried the initial report, accusing it of spreading misinformation and warning that “government’s measured silence should not be mistaken for weakness,” citing existing laws on libel and defamation.
General
Eid-el-Fitr: Gaya Urges Prayers Against National Challenges
By Modupe Gbadeyanka
Nigerians have been urged to use the occasion of Eid-el-Fitr to intensify prayers against the challenges confronting the nation.
This appeal was made by the independent non-executive director of the Nigeria Sovereign Investment Authority (NSIA), Mr Abdullahi Mahmud Gaya.
Mr Gaya described the current situation in the country as a test of citizens’ spiritual resolve and faith, tasking Muslims to reflect on the deeper significance of Eid-el-Fitr, noting that the festival symbolises sacrifice, obedience to Allah, and compassion for the less privileged.
“Every Muslim finds joy in observing the Ramadan fast, a fundamental obligation in Islam. We should not lose sight of the lessons it teaches: obedience to Allah, sharing our blessings with the needy, and being our brother’s keeper,” he said in a statement issued by his media assistant in Kano.
Speaking on the forthcoming general elections, Mr Gaya advised the electorate to vote for selfless leaders committed to national service and the welfare of Nigerians, describing the polls as a choice between progress and regression, stressing the need for voters to support candidates with verifiable achievements rather than empty promises.
He also urged Nigerians to remain mindful of their civic responsibilities by choosing leaders who demonstrate integrity, sincerity, and dedication.
According to him, the country’s future depends on the electorate exercising their voting rights wisely to elect leaders who understand the responsibilities of public office and approach them with humility, competence, and genuine commitment to service.
Mr Gaya expressed gratitude to Almighty Allah for His mercies and felicitated with the people of Ajingi, Gaya, and Albasu Local Government Areas, as well as Governor Abba Kabir Yusuf and Nigerians at large, on the successful completion of the Ramadan fast.
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