Rivers State Governor, Sir Siminalayi Fubara, has stated that governance has been reactivated, with major stalled projects revived across the local government areas, reaffirming his commitment to development and peace in the State.

Governor Fubara disclosed this during a meeting held at the Banquet Hall, Government House, Port Harcourt on Thursday, with traditional rulers to acquaint them of the return of governance after the emergency rule in the State.

The Governor informed the traditional rulers of the government’s efforts to reactivate stalled projects across the state, assuring them that major works, including the Port Harcourt Ring Road, hospitals, and roads, have resumed.

He emphasized that the interests of Rivers people remain paramount in all government undertakings, adding that the administration is committed to addressing any challenges facing the communities.

“My meeting with you this afternoon is to tell you that we are back. It’s not me, all of us. Government has started again. Our projects, if you are aware, most of the project sites have all reopened. The Ring Road has restarted. The hospitals are mobilized back to sites. The roads, as at today, we’ve had meetings with all the contractors. They’ve all moved back to sites.

“Also, the issues of other developments. I believe that most of them that were truncated, we will revisit them. Because at the end of the day, it has to do with the people. We must make sure that the interests of our people are supreme in whatever we’re doing. If you observe, every sector of the system has been activated.”

He acknowledged the unique position of the traditional rulers as the closest leaders to the people and vital role they play as custodians of culture and grassroots leaders in fostering peace and driving development, and appealed to them to continue to maintain peace within their domains as a way of supporting government initiatives.

Governor Fubara pledged to respect the traditional institutions, describing them as the ancestors and pillars of the state, and assured them of continued engagement and support.

“You cannot control from Port Harcourt, living in Government House, to decide what happens in the most interior place in Kula. You might have a local government chairman; you might have a councillor, but who is the closest, who controls the sub-leaders of the families, communities that make up the big Kingdoms? It is you all here that control them. So, if we have to pray for peace, if we have to yield for development, who should be the people I should always listen to? It is you.

“You know the problem, you understand the needs of the people. So, we are appealing that we need more peace. You want us to succeed, ensure that you maintain peace in your communities. Ensure that you support the government programmes. On my own part, I will give you the respect that you deserve.”

The Governor further announced plans to fulfill pending commitments to the traditional rulers, including the provision of vehicles and other benefits according to their hierarchy, promising that these would be delivered by the end of November.

He also addressed the importance of the quarterly council meetings, urging the Council Chairman to remain apolitical and focused on promoting the collective interests of the State.

In his remarks, the Chairman of the Rivers State Council of Traditional Rulers, Eze Chike Worlu Wodo, Eze Oha Apara (IV), Paramount Ruler of Apara Kingdom, reminisced the experience of the state and traditional rulers during the emergency rule, and expressed gratitude to God for the return of the Governor. He thanked him for the maturity and courage exhibited during the trying moment.

In their separate speeches, the Oba, Eze Ogba of Ogbaland, Eze Nwachukwu Nnam Obi, the III; the Amanyanabo of Bonny, King Asimini William Dappa Pepple III, Perekule XI; the Amanyanabo of Abonnema, King Disreal Gbobo Bob-Manuel; and the Eze of Omuma Kingdom, King Onyekachi Amaonwo; noted the organic support Rivers people have for the Governor, ascribing his return to God’s answer of the people’s prayers.

They noted that Rivers State is back on its feet, and urged the Governor to continue with the developmental projects that he had always put in place, and focus on youth empowerment, job creation and community development.

Saying that these are the surest foundations for enduring peace, they assured the Governor of the traditional institution’s commitment and readiness to continue to support the government’s developmental efforts.

The Central Bank of Nigeria (CBN) has assured foreign investors that the government will continue to advance reforms and unlock opportunities for sustainable investment and growth.

CBN Governor, Yemi Cardoso, gave the assurance on Wednesday in Washington, while addressing investors at the Nigeria Investors Forum held on the sidelines of IMF/World Bank annual meetings.

He said that the nation’s external reserves had risen to 43.4 billion dollar, the highest level in five years.

Cardoso assured the investors that the government would continue to advance reforms and unlock opportunities for sustainable investment and growth.

“The CBN and the Ministry of Finance have been working hand in hand to ensure alignment, stability and clarity for investors.

“Nigeria’s focus remains clear, strengthening our fundamentals, advancing reforms and unlocking opportunities for sustainable investment and growth.

“We are encouraged by the progress made so far and remain confident that ongoing reforms are laying a stronger foundation for a more resilient economy,” he said.

CBN Deputy Governor on Economic Policy, Mohammed Abdullahi, said that the series of reforms introduced by the government had led to significant improvement in foreign exchange inflows.

Abdullahi said that monthly turnover in the forex market had risen by 56.4 per cent to 8.6 billion dollars in 2025, up from 5.5 billion dollars in 2024.

“Over the last two years, we have really focused a lot on improving FX inflow into the economy, and we have seen a significant jump.

” Average net flows between January 2023 and July have doubled.

“FX supply at the official window has significantly improved and has been driven by order-based quotation, a lot of reforms around remittances and all the other issues mentioned, ” he said .

These, he said, include the clearance of backlogs and outstanding obligations

“Capital flows, which, during the 2019 to 2020 period collapsed by over 75 per cent have significantly improved and have therefore strengthened our external position.

“We now have deeper and more functional financial markets, much more robust and transparent,’” Abdullahi said.

He said that the CBN stood as a net supplier by less than about one per cent of market turnover.

“We are actually a net buyer in the market.

“We have, over the last two years, been rebuilding external buffers to provide resilience to shocks.

” Our gross reserves are at a five-year high of 43.4 billion dollars as of October, enough to cover 11 months of imports.

” We have also deliberately improved the quality and quantum of our net FX reserves.

“Between 2024 and 2025, we have released almost 13 billion dollars back to local and international banks in a way that allows for organic growth of our reserves,” he said.

Sanyade Okoli, the Special Adviser to the President on Finance and Economy, also said that government was committed to achieving seven per cent economic growth between 2027 and 2028.

Okoli said that the growth would come through diversification and investment in infrastructure.

“Our target is seven per cent by 2027 to 2028.

” When the IMF increased its forecast a week later for 2025, we are forecasting four per cent growth, rising to around five per cent next year.

“That four per cent is already the highest, with Q2 showing 4.3 per cent growth.

” We know that we need to diversify the economy and we are seeing results.

” In Q2, 13 per cent of sectors grew above seven per cent.

“To achieve seven per cent GDP growth, you need enough sectors growing at or above that level.

” In Q1, nine sectors grew above seven per cent, in Q2, it was 13.

“Our dependence on oil for total exports has reduced to about 57.5 per cent in the first half of this year compared to last year.

“Oil now accounts for about four per cent of GDP, down from eight per cent in 2021, ”Okoli said.

He said that the economy was diversifying, adding that resilience is building.

“To unlock long-term growth, we must invest; the government alone cannot do it.

“We are pursuing partnerships with the private sector and development partners to crowd in capital.

“On roads, the highway development and management Initiative has identified over 10 routes for PPPs,” he said.

He further said that on power, Nigeria was partnering with the World Bank and AfDB to mobilise about 32 billion dollars to improve access to reliable electricity.

On digital infrastructure, he said fiber-optic coverage is ongoing to ensure connectivity for the youths.