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• Nigeria loses $148m yearly to other West African countries
• Outdated infrastructure, limited capacity, crippling Nigeria’s shipyard industry
• Dozens of Nigerian shipyards facilities left to rot away

Nigeria continues to miss out on the windfall accruing from vessel maintenance due to the absence of functional shipyards and dockyards, The Guardian understands.

Consequently, 1,102 Cabotage (local vessels) vessels are compelled to fulfil their repair and maintenance requirements in neighbouring countries. Numerous international vessels which dock on Nigeria’s shores also look elsewhere for maintenance.

Nigeria presently has an idle N50 billion modular floating dock acquired in June 2018 by NIMASA alongside other abandoned and inactive dockyards in the country.

This results in substantial financial losses, estimated at $147.8 million in docking fees, repair services and other additional costs for each vessel yearly.

The figure is based on a conservative single general maintenance every five years. This supposes that 220 or 20 per cent of the Nigerian vessels carry out maintenance yearly at an average cost of $670,000 (per visit).

The costs are incurred when vessels are transported to neighbouring countries for repairs and maintenance.

According to data from the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria currently has a fleet of 4,610 flagged vessels with a total tonnage of 6,131,814.55 gross registered tonnage (GRT) and 1,102 cabotage vessels with a combined tonnage of 2,037,184.63 GRT.

Whereas the flagged vessels could also carry out their maintenance in Nigeria, they have the choice of doing it elsewhere. But Cabotage vessels move within the countries but would need to visit neighbouring countries for repairs.

Due to the limitations of local shipyards and dockyards, the owners of the vessels resort to taking them to neighbouring countries such as Ghana, Kenya, Togo, Ivory Coast, Benin Republic and Cameroon for dry docking and repairs. This practice does not only lead to increased unemployment but also impedes the development of skills in the maritime sector, experts said.

The Guardian gathered that Nigerian vessels visit various African countries for maintenance and dry docking, despite their limited shipyard facilities.

One notable example is PSC Tema Shipyard in Tema Harbour, Ghana. The shipyard has a functional floating dock with a capacity of 10,000 tonnes and a graving dock that can accommodate vessels up to 200 meters in length.

The Durban Dry Dock, one of the largest dry docks in the Southern Hemisphere, can accommodate vessels up to 350 meters in length. It also offers services for smaller vessels and is renowned for its efficiency and high standards.

Also, Cape Town Dry Dock in South Africa is equipped with modern facilities and can handle a wide range of vessels, including large cargo ships and oil tankers.

The facilities are positioned along major shipping routes, making it a convenient stop for vessels travelling between the Atlantic and Indian Oceans. They offer a full range of repair and maintenance services, including hull repairs, engine overhauls and electronic system upgrades.

The African Marine & General Engineering Company Limited, located in Mombasa, Kenya, is an ISO-certified facility that offers dry docking and repair services for a variety of vessels, including cargo ships, tankers, and fishing vessels.

The facility is conveniently located for vessels travelling between Europe, the Cape, India and the Far East.

Nigeria’s inability to fully meet the dry docking and repair needs of ship owners has significant financial implications, experts said.

The frequency of ship repairs, maintenance and dry docking varies based on several factors, including the type of vessel, its age and its usage to ensure that ships remain in optimal condition and comply with international safety and regulatory standards.

According to information gathered by The Guardian, most ships are required to undergo dry-docking at least once every five years. This process involves taking the ship out of the water for thorough inspection, cleaning and repairs.

For some vessels, such as cruise ships, dry docking may be required more frequently, with inspections of the ship’s bottom every year and dry docking twice within five years.

The Secretary-General of the Merchant Seafarers Association of Nigeria (MESAN), Captain Alfred Oniye, explained that regular maintenance and repairs are usually performed more frequently than dry docking.

Dry docking, which may involve routine inspections, minor repairs and preventive maintenance, can occur monthly or yearly depending on the vessel’s operational schedule and specific maintenance requirements.

The Guardian learnt that the cost of transporting a vessel for dry-docking, maintenance and repairs to Kenya, Ghana and South Africa varies significantly among Nigerian-flagged vessels and foreign vessels that call at Nigeria’s ports. Several factors influence this variation, including the vessel’s size, the distance to the repair facility and the mode of transportation, such as towing or self-propulsion.

For towing, smaller vessels incur costs ranging from $10,000 to $50,000, while larger vessels may cost up to $100,000 or more. Self-propelled vessels face fuel costs ranging from $20,000 to $100,000 or more, depending on the distance and fuel prices.

Docking fees also vary based on the vessel’s size, the duration of the stay and the specific services required. Small to medium-sized vessels pay daily docking fees between $1,000 and $5,000, while for a typical repair period of 10-30 days, total docking fees can range from $10,000 to $150,000.

Large vessels incur daily docking fees between $5,000 and $20,000, and for a similar repair period, total docking fees can range from $50,000 to $600,000.

These figures amount to an average of $595,000 per vessel, which does not include other additional costs including crew wages, insurance and port fees.

Nigeria’s non-functional ship repair yards and dockyards are due to a combination of financial constraints – lack of investment, outdated equipment and broader economic challenges.

The Nigerian Ports Authority (NPA) Dockyard located in Apapa, Lagos, has been inactive for many years due to lack of maintenance and funding. The same applies to the Federal Ship Repair Yard in Port Harcourt which has been neglected over a decade due to mismanagement.

Others are the Calabar Ship Repair Yard, which has been abandoned and is currently in a state of disrepair, Warri Ship Repair Yard, Rivers State Ship Repair Yard, Koko Ship Repair Yard and Burutu Ship Repair Yard among others.

The former Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh, last year stated that Nigeria lost over 110,000 vessels yearly to Togo, Ghana and the Republic of Benin for dry docking and repairs.

Nigeria also failed to secure N350 billion this year due to the idle N50 billion modular floating dock acquired in June 2018 by NIMASA. The facility is yet to commence operation.

Oniye, who is also a dean at City University, Cambodia, said despite the notable shipyards including Nigerdock FZE and the Naval Dockyard Limited, the country’s shipyards face challenges such as outdated infrastructure, limited capacity and insufficient investment, which hinder their ability to meet the demands of modern maritime operations.

He said the financial implication of Nigeria’s inability to fully meet the dry docking and repair needs of ship owners is significant as ship owners incur additional costs for transporting vessels to other countries for repairs as well as higher fees in foreign shipyards compared to local facilities.

Oniye also noted the extended repair time, stressing longer repair times due to travel and scheduling delays that can lead to increased operational downtime, noting that ships out of service for extended periods result in lost revenue for ship owners.   On the economic impact, Oniye said Nigeria misses out on potential revenue from docking fees, repair services and associated economic activities, adding that the limited functionality of local shipyards affects job creation and skill development in the maritime sector.

He said enhancing the functionality of Nigerian shipyards and ship repair yards is crucial for the country’s maritime industry.

Onyie said investment in modern infrastructure, capacity building and adherence to international standards can help Nigeria become a preferred destination for ship repairs, reducing financial burdens on ship owners and boosting the local economy.

NIMASA had last year released a list of 15 private accredited ship/boat building, repairs and maintenance yards in the country with the construction and designs of vessels to be flagged or registered under the Nigerian Flag Administration to be restricted to these facilities.

Also, all dry-dock maintenance by Nigerian and foreign-flagged vessels is required to be conducted at the accredited yards, with a warning that failure to comply would attract appropriate sanctions.

The accredited marine vessels building, repairs and maintenance yards include, Naval Dockyard Limited, Niger dock FZE and IGA Shipbuilding and Repair Yard in Lagos State as well as MG Vowgas Limited, Elschon Nigeria Limited, Starzs Marine and Engineering Limited and West Atlantic Shipyard in Rivers State.

Others located in Delta State are Python Engineering Company Limited, Gredor Nigeria Limited, Tuwasco Marine Services Limited, Warri Boat Yard, Niger- Benue Transport Company, Big Fingers Oil Services Limited, West High Logistics Resources Limited and Yade Barge Operator Limited.

Despite the many facilities, vessels are taken outside for repairs, maintenance and drydocking, costing the country huge foreign exchange losses.

The Founding President of the Nigerian Ship Owners Association (NISA), Isaac Jolapamo, explained that ship repairs and maintenance in these foreign countries incur high additional costs, including voyage expenses, fuel consumption, and international service rates, all priced in U.S. dollars, making it even more expensive given the current exchange rate challenges.

Jolapamo lamented that while Nigeria’s major shipyard, Niger Dock, is no longer operational due to mismanagement and lack of patronage, small shipyards in Ghana have remained functional for over seven decades.

Jolapamo also condemned the mismanagement of funds intended to support ship maintenance and industry development.

He criticised the failure of NIMASA’s modular floating dock project, calling it a misallocation of resources that has hindered local ship development.

He pointed to the NIMASA’s floating dockyard project as a failed initiative that diverted crucial resources, saying. “Instead of using funds to refurbish local ships, allowing them to compete with foreign vessels, the money was wasted on an ill-conceived floating dock project.”

“If Nigeria wants to revive its maritime sector, there must be a concerted effort to invest in local shipyards, provide financial support for shipowners, and enforce policies that genuinely encourage local participation,” Jolapamo urged.

A former member of the Presidential and Ministerial Committee on Fiscal Policy Measures, Lucky Amiwero, said the country’s shipyard industry is crumbling under poor infrastructure, political negligence and lack of implementation of existing maritime laws, such as the Cabotage Act.

Amiwero criticised the deteriorating state of the nation’s shipyards, the inability to repair vessels locally and the devastating economic losses the country suffers due to this oversight.

Amiwero pointed out that vessels are left to decay on Nigerian waters, while shipowners are forced to take their ships to other African countries for repairs.

He said Nigeria is losing significant foreign exchange because of a lack of functional shipyards, noting that small nations like Ghana and Togo have advanced beyond Nigeria in maritime infrastructure, while Nigeria, despite its potential, remains stagnant.

Amiwero emphasised the importance of the Cabotage Act, which was designed to boost the country’s shipbuilding, repairs and maintenance capacity as well as encourage local operators.

The decline of Nigeria’s shipyards is also hurting employment, as Amiwero lamented that students who study maritime-related subjects in institutions locally and abroad are left jobless upon returning, as the infrastructure to support their skills does not exist in Nigeria.

He urged the government to refocus on infrastructure development that can create jobs and boost the economy, pointing out that the shipyard industry is a critical part of maritime infrastructure, which, if developed, could provide employment and generate wealth domestically.

“We must develop our shipyards, implement the Cabotage regime and create a sustainable maritime industry that benefits our economy and future generations,” he stated.

The Vice Chairman of the Business Action Against Corruption (BAAC) Integrity Alliance, Jonathan Nicol, highlighted the ongoing struggles of Nigeria’s ship repair industry, noting that owners are increasingly spending a fortune in neighbouring repairs due to the inefficiency of local dry docking facilities.

Nicol, who is a former president of the Shippers Association of Lagos (SALS), explained that Nigeria once had functional ship repair yards, including facilities run by the Nigerian Ports Authority (NPA) and the well-known Niger Dock, which have either become too expensive or have fallen into disuse.

He said the NPA’s dockyard, which used to service smaller vessels at competitive rates, has long ceased operations, while the once thriving Niger Dock shipyard, has also struggled due to its high costs, leading ship owners to seek alternatives abroad.

One of the biggest issues, Nicol pointed out, is the inefficiency of the ship repair process in Nigeria.

He said shipowners often face extended repair times, with some dry docking procedures taking up to six months, noting that this is in stark contrast to neighbouring countries like Ghana, where repairs can be completed in a matter of weeks at much lower costs.

Nicol also emphasised the importance of certification and international recognition in the ship repair industry, pointing out that Nigeria lacks the facilities and certifications, such as Lloyd’s shipping certification, that are available in other countries.

[Guardian]

Tuesday, 25 March 2025 07:38

CJ Crisis: Benue Govt, CJI On Warpath

Benue State government and the Centre for Judicial Integrity (CJI) have taken to the trenches over the alleged bribery of the National Judicial Commission (NJC) to influence its proceedings on the removal of the state’s chief judge.

The CJI fired the first shot yesterday when it charged the  Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC)  to probe the alleged allocation of N500 million by the state government to bribe the NJC.

 
 

CJI also attributed the strike embarked by the state judiciary since December 2024 to the government’s failure to implement the new N75,000 minimum wage for judiciary workers.

CJI convener, Solomon Adodo, who addressed journalists in Abuja yesterday claimed that some state appointees  allocated over N500 million to influence the proceedings of the NJC on the removal of the chief judge of Benue State, Justice Maurice Ikpambese.

But in a swift reaction the chief press secretary to the governor Tersoo Kula described the allegations as nothing other than a forlorn attempt by disgruntled political elements in Abuja to sabotage the integrity of his principal  who has persistently sided with the principles of justice and good governance.

He said, “We strongly refute the groundless claims generated by the Centre for Judicial Integrity (CJI) about Governor Hyacinth Alia’s alleged involvement in buying off members of the judiciary.

“If the CJI and their allies have any evidence to bolster their outrageous claims, we challenge them to produce it publicly or face the consequences of their thoughtless denunciations.

“’Disseminating such concoctions without substantiation merely affirms the true nature of those individuals who are enthusiastic to pollute the reputation of respected institutions for personal benefit. Governor Alia has consistently held the judiciary in tremendous regard and would never negotiate its integrity for any reason,” the CPS said.

CJI had claimed that substantial sum of the money was channelled through three Benue State officials who have been making frantic trips to Abuja in an apparent attempt to compromise NJC processes by engaging with key officials within the judiciary.

Adodo argued that the actions of the government functionaries reflect a dangerous level of ignorance about the fundamental workings of governance, wherein institutions like the judiciary must be shielded from political interference.

He said CJI was privy to information that some members of the NJC refused to accept any money from the government functionaries, adding that their principled stance against corruption reinforces the integrity of the NJC and strengthens public trust in the judicial system.

CJI argued that rather than engage in constructive dialogue and governance, Governor Hyacinth Alia- led administration had allowed the state’s judicial system to remain paralysed.

The centre noted that the inability to grasp the critical role of an independent judiciary in a democracy further proved the administration’s lack of experience in governance and public service.

CJI therefore  urged the  anti-corruption agencies and relevant authorities to conduct a thorough and transparent investigation into the alleged misappropriation of N500 million aimed at influencing NJC proceedings.

It called on the NJC to remain steadfast in its duty to protect the judiciary from external pressures and to ensure that any proceedings concerning judicial officers are conducted impartially and in strict adherence to constitutional provisions.

The CPS further said the call for a “state of emergency” in Benue State is not purely vexatious but also a flagrant display of political opportunism. It is evident that these irritated political operatives are sponsored by unscrupulous factions desperate and eager to capitalize on any situation for their advantage. Their motives are clear: to undermine a state that is presently going through effective governance and progress under Governor Alia’s leadership. There is no unrest in Benue State. Gov. Hyacinth Alia is fully in charge and control of the state.

“We warn these wholesalers of crisis to steer clear of Benue State. The people of Benue are not persuaded by unjustifiable allegations or political maneuvers. Instead, they are witnessing transformational governance that prioritizes their welfare and well-being. Governor Alia is fixated on shaping the narrative around governance in the state, demystifying the process, and ensuring that the government works for the people.

“The inhabitants of Benue are happy and supportive of their governor, praying daily for his prosperity and the advanced progress of the state. Governor Alia has no wealth to corrupt anyone, specifically not an esteemed institution like the judiciary. His responsibility is  transparency, accountability, and the rule of law”

“Finally, we appeal to all forces involved in this smear campaign to reflect on their activities and examine the damage they wreak on the democratic process. The people of Benue deserve better than the disruptive ploys and fabricated allegations that threaten their progress,” the CPS said.

[Leadership]

Being a politician in itself is a major nightmare. But perhaps one of the major occupational hazards of a politician is taking hard decisions on behalf of the people even when he is misunderstood by the very society he serves. This is why politics is not for the faint-hearted but for risk takers who promise miracles without knowing how the miracle will come about.  This is why governance which includes defending fortune-seekers who do not know what is in their best interest can be very challenging.

What is not always apparent to the governed however is that government is not an independent arbiter but a tool in the hands of those who with their control of a disproportionate share of the national resources, are out to preside over an empire of slaves?  It is ironic that it is this same people that often mobilise those bent on pulling down government.

I sympathise with President Tinubu who before last week anti-government conspiracy he survived had been going through stress and strain over his government’s harsh economic policies. Last week’s mass mobilisation of critical segment of Nigerians including those whose battle he was fighting against by his many political foes must have been very distressing.

For taking a bold decision to confront those who have for two years held people of Rivers hostage, his government was painted  a Leviathan, a huge fearful sea monster that must be brought down.  And leading the war with a battle cry of “the democracy we fought for” are fake democrats without democratic ethos.  We have PDP sore losers like Atiku Abubakar and Peter Obi who, two years after losing an election won round and square by their opponents, are yet to congratulate the victor.

Others include Pat Utomi who has professed that the president’s interference to end the siege on Rivers by those benefiting from their misery sounded the death knell of democracy in Nigeria. There is Rotimi Amaechi, Nasir El-Rufai, former APC insiders who have decided to start urinating inside from outside. We have the Nigerian Bar Association that one had thought would be more introspective but has chosen to declare the president a ‘totalitarian’ based on its jaundiced judgment.

 

And finally anchoring the activities of the president’s political foes was Fubara’s media meddlers who swear in the name of patriotism which as has been shown can be “the last refuge of the scoundrels”. (Samuel Johnson 1775).

Even with his celebrated versatility and political brinkmanship, President Tinubu must have felt lonely last week with all round denunciation and condemnation of his bold move to stop the drift in Rivers. Not even from Rivers came any form of relief as a segment of the elders, first identified by Saro Wiwa, an Ogoni hero as ‘vultures’ who feed on the blood of their people, Rivers women for Fubara, restive jobless Rivers youths forgotten as successive governors became obsessed with infrastructural development since 1999, threatening Ijaw youths, meddling politicians from outside Rivers, all taking up arms against the government and insisting Rivers has been short-changed by the president’s action. Of course, except for the president who is always one step ahead of his political opponents, no one knew what was going to happen in view of tension that took over the country until relief came from the National Assembly after two days that was like an eternity.

And how did it start?

For close to two years, Fubara the democratically elected governor of Rivers was at war with his state lawmakers said to be loyal to his godfather Nyesom Wike, the FCT minister. Unable to understand that compromise is the highest badge of honour in a democracy where the ruler rules while others dictate the tune, he reneged on the truce he reached with his other arm of his government in a meeting presided over by the president. He opted to rule with an assembly of three people. And of the other 27 elected lawmakers, he had said:

 “They are not existing; these are people eating in my house, I helped to pay their children school fees when I was not even a governor, I accepted the accord to give them a floating, their existence is me allowing them to exist”.

The February 28, Supreme Court judgment indicted the governor for demolishing the state House of Assembly to prevent his impeachment, for disobeying Abuja High Court judgment, Abuja appeal court judgment that declared presentation of budget to three people unconstitutional and mandated him to present the budget to the 27 member House of Assembly recognized by the Supreme Court after being made redundant for close to two years. While the governor embarked on what most people saw as his game of ostrich playing, the House slammed him with notice of impeachment.

The president after lamenting that he “made personal interventions between the contending parties for a peaceful resolution of the crisis, but my efforts have been largely ignored by the parties to the crisis, the president echoing aspects of the Supreme Court’s decisions, accusing the governor of frantically working to collapse the state’s legislature said,

“In the circumstance, having soberly reflected on and evaluated the political situation in Rivers State and the governor and deputy governor of Rivers State having failed to make a request to me as President to issue this proclamation as required by section 305(5) of the 1999 Constitution as amended, it has become inevitably compelling for me to invoke the provision of section 305 of the Constitution of the Federal Republic of Nigeria, 1999 as amended, to declare a state of emergency in Rivers State with effect from today, 18th March, 2025 and I so do.”

Then the war mongers went to town. PDP that watched the Rivers crisis drift for two years claimed the president action was “an attempt to suspend the 1999 Constitution and overturn a democratic government”. Pat Utomi, a chieftain of Labour Party said “the act signals the end of democracy in Nigeria; Rotimi Amaechi alleged it “points to a brazen attempt at power grab in the state by force”. The respected human rights lawyer Clement Nwankwo blamed the National Assembly.

 

Joining the hordes of partisans was the chairman of Nigerian Bar Association who should know better but was more reckless. He claimed the situation in Rivers “has not called for state of emergency”. Since he is not the president or member of the National Assembly, he was not in the position to make such assertion.

But without restraint, the NBA chairman declared “At this inauspicious moment in our nation’s trajectory, all people of goodwill and conscience should rise to oppose this audacious violation of our constitution and rape of our democracy.

“Mr. President must be made to know and understand in unmistakable terms that this illegality cannot stand”. He concluded by “asking politicians across Nigeria to speak up and rise against the country’s descent into totalitarianism.”

Section 305 of the Constitution which vests the president with the power to declare a state of emergency, also gives him power of discretion. He could adopt any strategy he deems fit to bring sanity to a troubled area. The NBA chairman deliberately ignored that fact.

In any case, if the NBA chairman believes the president has committed an infraction, the best place to go is the court where we have competent and discerning judges who can make a distinction between the letter of the law and the spirit of the law; i.e. the underlying aim purpose and intended ethical considerations behind legal statutes as opposed to its literal wordings”.

Then there are the Fubara media meddlers. They hailed him the morning after masterminding the bombing of Rivers state House of Assembly as he matched with thugs on the street of Port Harcourt.

They lionized him and encouraged him to abandon a truce he reached with the warring members of his state assembly supervised by the president.

When the Abuja High Court and Abuja Appeal court ruled it was an aberration to present the state budget before three people, they asked tongue in cheek, ‘why should his opponents approach the Abuja Court?’

And when on February 28, the Supreme Court ruled there has been no government in Rivers since he removed one leg of a tripod that sustains democratic government, the Supreme Court was disparaged.

When the president finally declared state of emergency, Fubara media meddlers who angrily said anyone who disagrees with their views must be ‘stupid’ said the president committed impeachable offence and must be impeached. They tried to blackmail the National Assembly not to endorse the president’s action while they arrogantly advised the administrator nominee to reject the president’s appointment.

Senator Magnus Abe, a stakeholder in Rivers who appeared on their platform and pleaded they tone down the rhetoric and lower the temperature in the interest of Rivers State people who just want to reconcile their difference and live in peace was bullied.

Fubara’s media meddlers want to continue the war. They claim they are more patriotic than Nigeria’s elected president, the National Assembly and the Supreme Court, all of which they freely bullied in the last two years.

What the Leviathan Nigeria should worry about is not Tinubu’s government but Fubara’s media meddlers.

The depreciation of the local currency against the dollar continued yesterday as the naira exchanged for 1,540.57 at the official market, checks by Daily Trust indicated.

This is coming against the backdrop of the increasing demand for dollars, which has seen the naira losing value against the foreign currencies.

The Central Bank of Nigeria (CBN) had sustained its intervention in the foreign exchange market with a view to keep the local currency stable at the current N1,500 range.

The local currency fell at the official window due to what sources called insufficient dollar supply to meet the increasing demand.

Our correspondent reports that the exchange rate depreciated by N18.95 last week, closing the week at N1,536.89 at the official market.

However, the market opened the week yesterday with the dollar exchanging for N1,540.57 fuelled largely by rising demand pressure in the market.

The CBN sold $92.10 million as the week ran down, bringing the total FX sales to $230.90 million amidst external reserves fluctuation.

At the unconventional black market in Lagos, the dollar was bought at N1,560 yesterday and sold for N1,570.

Daily Trust reports that the unification of the exchange rate market had closed the gap between the official and parallel markets.

But experts warned that the rising demand coupled with low dollar supply in the market poses risk to the stability of the naira.

For instance, the recent decision by Dangote Refinery to stop sale of products in naira may fuel the demand with potential to increase the rate.

Already, importation of the petroleum products has become the order of the day with marketers now scrambling for the little amount of dollars in the market to meet their obligations.

An economist, Dr. Marcel Okeke in a chat with our correspondent said the recent announcement by Dangote Refinery is an ill-wind for the foreign exchange market.

He said by the time the marketers begin to scramble for foreign exchange to buy petroleum products from the refinery or from outside the country, the forex demand would increase thereby leading to an increase in the exchange rates.

[DailyTrust]

Rivers State Head of Service, Dr. George Nwaeke, has resigned from office.

His resignation was announced in a statement on Tuesday, signed by the Chief of Staff to the Rivers State Sole Administrator, Retired Vice Admiral Ibok-Ete Ekwe Ibas.

The statement expressed appreciation for Nwaeke’s contributions to the administration of the Sole Administrator in the few days he served, and wished him success in his future endeavors.

In the interim, Dr. (Mrs.) Iyingi Brown, the Permanent Secretary for Welfare in the Office of the Head of Service, has been appointed in an acting capacity until a substantive Head of Service is named.

While congratulating Brown on her appointment, Ibas reaffirmed his commitment to neutrality, peace, and stability in Rivers State.

The statement read, “The statement Office of His Excellency The Administrator of Rivers State, Vice Admiral (rtd) Ibok-Ete Ekwe Ibas CFR, is saddened to announce the resignation of the Head of Service, Rivers State, Dr George Nwaeke, FCA, Mni.

“His Excellency, The Administrator appreciates the immense contributions he has shown this administration in the short period he served and wishes him well in his future endeavors.”

Nwaeke’s resignation comes just one week after President Bola Tinubu declared a state of emergency in Rivers State, suspending Governor Siminalayi Fubara, his Deputy, Ngozi Nma Ordu, and all members of the State Assembly.

The President’s decision has drawn widespread criticism from major political figures, civil society organizations, the Nigerian Bar Association, NBA, the Nigeria Labour Congress, NLC, and a significant portion of Rivers State residents.

[DailyPost]

Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Ahmed Tinubu, has dismissed the assertion by former Anambra Governor, Peter Obi, that democracy has collapsed, describing it as hyperbolic and lacking logical foundation.

Onanuga, in a statement on X (formerly Twitter), criticised Obi’s comments, during a colloquium to mark the 60th birthday of former Deputy Speaker of the House of Representatives and ex-Imo Governor, Emeka Ihedioha.

He argued that democracy in Nigeria has remained resilient over the years and has continued to strengthen since 1999.

“I listened multiple times to former Governor Peter Obi’s statement in this clip, where he claims that democracy has collapsed in Nigeria. His hyperbolic remarks, suited for headlines, have been made without deep reflection and lack a solid logical foundation,” Onanuga stated.

He questioned how a democracy that has endured and grown over the past 26 years could be said to have collapsed, adding that Obi himself is a beneficiary of the free speech provided by the system.

“Only a discontented and disgruntled Peter, who benefits from the very free speech democracy provides, could perceive such a democratic downfall through his lens.

” If democracy had indeed collapsed, as Peter claims, and we were living under a regime antithetical to democratic principles, he would not have been able to make his comments on Monday at Emeka Ihedioha’s colloquium,” he added.

Onanuga further urged Obi to be more cautious with his statements, warning against what he described as playing to the gallery.

 

Obi, at the event, had argued that democracy in Nigeria had suffered a serious setback due to the actions of the current leadership.

“They started in 1999, they laid the foundation, some people came and took it a decking, and some people were trying to raise it to the first floor, and some people came and knocked everything down. That’s the situation we are in right now. Everything has been knocked down, nothing works,” Obi said.

Citing his personal political experiences, the former Anambra governor claimed that the judicial and democratic institutions that once upheld fairness and justice had deteriorated.

“I became a governor through the courts. When (former) President (Olusegun) Obasanjo and Atiku (Abubakar) were in government, I did not pay the courts one naira; I was sitting in my house, in an office, and the court declared me winner,” Obi recalled.

He further compared past democratic interventions with the present situation, lamenting that the independence of democratic institutions had eroded.

“Today, the president impeaches the person. And they were begging in my house not to impeach me, and they were in PDP, I was in APGA. Even when I was impeached, President Obasanjo called me and said, ‘Are you okay? Are you safe?’ I couldn’t believe it. Now the president (referring to the present administration) will ask him not to come back here again,” he said.

Obi maintained that the system was failing and required urgent attention to rebuild it. “Let’s not talk about it. Let’s talk about how we are going to rebuild it. It’s collapsing,” he said.

[YTheNation]

The National Chairman of the Social Democratic Party, Shehu Gabam on Monday lamented that the Nigerian judiciary is taking over the statutory functions of political parties and the Independent National Electoral Commission.

Gabam stated this when he was featured as a guest on Channels Television’s Politics Today.

In the last two years, political stakeholders expressed concerns that judges in the country were overstretched following the litany of post-election petitions that flooded the tribunals all the way to the apex court.

However, the SDP chairman insisted that it was an anomaly.

 

He said, “We are looking to build a party that will look like the ANC in South Africa. We are running away from the crisis because every movement has its own virus. So if you don’t have a strong antidote to that virus, you better maintain the status quo.

“Make sure that you pilot the affairs of the party up to the point of elections or primaries where people will be properly elected without the interference of the judiciary.

“Because these days, functions of parties have been taken by the judiciary. Functions of INEC have also been taken by the judiciary. So we have to be very careful how we navigate through this difficult period that we are in our democratic journey.”

 

When asked if former Vice President Atiku Abubakar plans to leave the Peoples Democratic Party to join the immediate past governor of Kaduna State, Nasir El-Rufai, Gabam, said, “Well, I won’t say that until we get there. The SDP is an excellent political platform for any career politician. We abide by the rules.

“We are very strict and ensure there is deterrence. Nobody is indispensable as far as the party is concerned. Once you breach the law, the law will take its course.”

The politician also showered encomium on El-Rufai, whom he described as a priceless asset.

He said, “Mallam El-Rufai is an asset. You know better than that. He is a workaholic and we believe that he will add value to the SDP. We don’t have a monopoly on knowledge and wisdom. We need people with extra capacity to add value to what we are doing.

“No party knows it all. When you have a convergence of assets of people that believe in the future of Nigeria, believe in the supremacy of the institution, that can punish people, create deterrence and openings, then you have a party that you can be proud of.”

When asked if he is among the key strategists in the ongoing coalition discussion, Gaidam said, “I am a chairman of a political party. I’m not supposed to be part of all these group discussions going on because they have their own conflicting interests embedded in those meetings. But the moment they make up their mind that this is their decision and want to join the SDP, the party will welcome them 100 per cent.”

[Punch]

 
 
Tuesday, 25 March 2025 07:21

Samsung co-CEO Han Jong-Hee dies at 63

Samsung Electronics co-CEO Han Jong-Hee died from cardiac arrest on Tuesday, according to a spokesperson for the South Korean tech giant. Han was 63.

Born in 1962, Han had overseen Samsung’s consumer electronics and mobile devices businesses since 2022, according to the company. He was named Samsung Electronics vice chairman and co-CEO in 2022. Han’s co-CEO, Jun Young-Hyun, heads its semiconductor business.

In an internal message seen by CNN, Samsung paid tribute to Han, saying he had dedicated more than 37 years of his life to leading Samsung’s TV business to become a global leader. As the head of its electronics and appliances businesses, he also contributed to the company’s growth amid a “challenging business environment.”

“Our deepest condolences are with his family and loved ones during this difficult time,” the message said.

No announcement has been made about Han’s successor, the spokesperson told CNN.

 

During an annual meeting with investors last week, which he chaired, Han apologized for the performance of Samsung stock and warned of a difficult 2025 because of uncertainties around the economic policies of major economies, according to Reuters. He added that Samsung would seek “meaningful” mergers and acquisitions deals this year to support the company’s growth.

“There are some difficulties in doing semiconductor M&As due to regulatory issues and various national interests, but we’re determined to produce some tangible results this year,” he was quoted as saying.

Han joined the company in 1988 after earning a bachelor’s degree in electrical engineering from Inha University. Prior to running Samsung’s electronics and devices division, he was in charge of the display operation.

CNN

Tuesday, 25 March 2025 07:19

SEC talks tough over market infractions

The Securities and Exchange Commission (SEC) has indicated that it is going hard on market operators engaging in unscrupulous activities.

The Commission reaffirmed its commitment to ensuring that only fit and proper individuals are permitted to operate in Nigeria’s capital market to enhance investor protection. 

Speaking in an interview in Abuja over the weekend, SEC Director-General Dr. Emomotimi Agama, stated: “It’s important that, as a form of self-regulation, they are aware beforehand that if you do what is not right, the SEC will bring you out to the world to say that you do not have character, because the very ethics of regulating or of registering a securities market operator is in the principle of the fit and proper person’s test. A fit and proper person’s test means that you satisfy all of the requirements that have been laid down in the Investments and Securities Act 2007 and in other regulations that the SEC has brought out to make sure that this happens.

“Disclosures by public companies will be very, very essential making sure that the investor has enough information to make decisions. If information is not provided, then that will be against the rules and regulations of the SEC and indeed, the ISA.

“So clearly for us, it is getting people to understand that there is no hiding place anymore for anybody that have an intention to defraud Nigerians and to defraud anybody that is investing in this market”.

Agama also emphasized that investor protection is a fundamental principle for the Commission in line with the provisions of its enabling law, with investor protection and market development as its twin priorities.

He added, “It is important to state clearly that every investor in Nigeria is under the cover of the SEC as long as the person operates within the Nigerian capital market. And so the year 2025 is a year where we say that there is zero tolerance for any activity that does not fall within the laws of the Investments and Securities Act 2007”.

[Vanguard]

 

Ibok-Ete Ibas, the administrator of Rivers state, has appointed Ibibia Lucky Worika, a professor, as secretary to the Rivers state government (SSG). 

In a statement, Ibas said Worika’s appointment takes immediate effect.

“His appointment follows careful consideration of his credentials, extensive experience, and performance during a rigorous selection process,” the statement reads.

“He holds a Ph.D. in International Environmental and Comparative Petroleum Law & Policy from the University of Dundee, United Kingdom, and has served in prestigious roles across academia, international organizations, and government advisory capacities.

 

“Professor Worika’s appointment reflects the Administrator’s commitment to harnessing the great human capital of the Rivers’ people to work with him to achieve the much-needed Peace, Stability and Security.”

In a separate statement, Ibas announced the resignation of George Nwaeke as head of service (HoS).

“His Excellency, The Administrator appreciates the immense contributions he has shown this administration in the short period he served and wishes him well in his future endeavors,” the statement reads.

 

“In the interim, Dr Mrs Iyingi Brown, Permanent Secretary Welfare, Office of the Head of Service has been appointed in acting capacity until a new Head of Service is appointed.

“While congratulating her on her appointment, the Administrator assures the people of Rivers State of his commitment to Neutrality, Peace and Stability.”

Ibas was sworn in as administrator by President Bola Tinubu on March 19, following the declaration of a state of emergency in Rivers.

[TheCable]