Economy
Panic as explosion rocks another gas facility in Rivers State
An explosion has rocked the Soku oil facility in Akuku Toru Local Government Area of oil-rich Rivers State.
This comes barely days after a major gas pipeline explosion hit the Trans Niger Pipeline in Bodo, Gokana Local Government Area of Rivers State.
The Youths and Environmental Advocacy Centre (YEAC-Nigeria), a grassroots NGO with strong networks across the Niger Delta, confirmed the latest explosion on Sunday.
In a statement signed by its Executive Director, Dr. Fyneface Dumnamene Fyneface, YEAC said it received reports from its youth volunteers about an early morning explosion at the Soku oil facility operated by Nigeria Liquefied Natural Gas (NLNG) Limited.
According to the statement: “An explosion accompanied by fireballs was heard and seen in the sky from the facility area, which is difficult to reach. The fire is still ongoing as of the time of this report.”
The cause of the explosion remains uncertain, with speculations ranging from: Equipment failure, Sabotage, Deliberate attack.
This marks the third explosion at oil facilities in Rivers State in less than a week.
The first occurred in Ogoni, while the second was in Oga/Egbema/Ndoni Local Government Area, an incident referenced by President Bola Tinubu in his March 18 nationwide broadcast while declaring a six-month state of emergency in Rivers State.
Following these incidents, the President suspended: The Rivers State House of Assembly, Deputy Governor and Governor Siminalayi Fubara, citing his alleged failure to protect oil infrastructure
The decision followed threats by some youths in a viral video warning against Governor Fubara’s impeachment.
YEAC-Nigeria has called for an urgent investigation into the Soku explosion.
The group urged the National Oil Spill Detection and Response Agency (NOSDRA) to conduct a Joint Investigation Visit (JIV) to determine the cause.
“Perpetrators of this crime must be held accountable in line with the provisions of the Petroleum Industry Act (PIA), 2021,” the statement concluded.
Rivers State under military rule
Prior to the declaration of a state of emergency by President Bola Tinubu, governance in Rivers State was practically paralysed as a result of a power struggle between the Governor, Siminalayi Fubara and his predecessor, Nyesom Wike, now the Minister of the Federal Capital Territory, Abuja.
Rivers is at the heart of Nigeria’s once restive oil producing Niger Delta region and the emergency rule declaration was pronounced following reports of explosions rocking oil pipelines.
Security scholar Al Chukwuma Okoli unpacks the implications of this development for security in the oil region previously known for militancy.
What does declaring a state of emergency mean?
The president has placed the governor, the deputy governor and the legislative arm of government on a six months suspension.
He has appointed Vice Admiral Ibok-Étè Ibas, a retired Navy chief, as the state administrator.
This means democratic institutions, except courts, have been suspended in Rivers State.
Section 305 of Nigeria’s 1999 constitution empowers the president to declare a state of emergency when:
the federation is at war
the federation is in imminent danger of invasion or involvement in a state of war
there is actual breakdown of public order and public safety in any part of the country requiring extraordinary measures to avert danger
there is an occurrence or imminent danger of the occurrence of any disaster or natural calamity
there is any danger which clearly constitutes a threat to the existence of the federation.
The Governor of a State may, with the sanction of a resolution supported by two-thirds majority of the state House of Assembly, request the President to issue a Proclamation of a state of emergency in the State
The president can also make the decision if the governor of the affected state fails within a reasonable time to make a request.
Is the state of emergency an effective response to the recent bombings?
The state of emergency is a response to a dire internal security situation in which there is actual or threat of a breakdown of law and order.
It applies also if security of lives and property is no longer guaranteed.
In other words there’s been a major breach of governability in the area.
There is an argument that the civil and security situations in Rivers State – and the civil unrest amid wanton destruction and vandalisation of oil and gas installations – calls for urgent intervention given the pivotal role of petroleum sector in sustaining the Nigerian economy.
Oil and gas account for 40% of Nigerian government revenues and for around 92% of the value of all exports.
Rivers State is a key oil producing area and hosts several major oil companies and critical oil infrastructure.
Nevertheless, the emergency approach to the security crisis in Rivers State is, at best, problematic.
Apart from amounting to unnecessary securitisation of politics and governance, it’s not capable of addressing the political undercurrents of the crisis.
At the heart of the problem is the unresolved – or badly addressed – partisan and personality clashes between the suspended Governor Siminalayi Fubara and his estranged predecessor and political godfather, Nyesom Wike, Minister of the Federal Capital Territory, Abuja.
The suspension of the Governor and the State Assembly may be strategically expedient.
But it will fail to address the fundamental issues at stake without a concomitant suspension of Wike as the Federal Capital Territory Minister.
This is because at the heart of the entire crisis is a power struggle between Wike and Fubara.
As the immediate past governor of Rivers State, Wike influenced the emergence of Fubara as his successor during the 2023 general elections.
They fell apart soon after the election. Wike who had become a minister and close ally of President Tinubu is believed to have influenced his loyalists in the Rivers State House of Assembly to oppose the governor.
They were in the process of impeaching the governor before the state of emergency was imposed.
Wike and Fubara’s power tussle has also led to a gradual return of Niger Delta militancy with former militants taking sides with the two political gladiators.
Given this background, the emergency rule in Rivers state will be associated with consolidated military operations to quell the rising militancy. This, too, is likely to escalate the crisis.
In handling the Rivers crisis, President Tinubu should have considered some historical precedents.
Negotiations have fared a lot better than the military options in the region.
The most recent armed conflict in the region arose in the early 1990s over tensions between foreign oil corporations and Niger Delta ethnic groups who feel cheated in the way their natural resources are exploited.
The militant groups became notorious for their violent attacks on oil infrastructure and kidnapping of oil workers.
Military response to this crisis did not seem to yield results until the Nigerian government introduced a disarmament, demobilisation and reintegration programme, known locally as the amnesty program.
This was introduced in 2009 and was aimed at members of armed militant groups that were present in the Niger Delta region.
Following this intervention, there has been relative peace in the recent past.
Essentially, the emergency rule in Rivers state is likely to bring about a dramatic backlash in the sustenance of the gains of post-Amnesty peace-building in the Niger-Delta.
What are the security implications of explosions rocking oil installations?
Destruction of petroleum installations will bring about significant setback in the efficiency and functionality of Nigeria’s oil and gas industry.
It will trigger production cuts and revenue losses capable of affecting the country’s petroleum earnings.
This will be devastating considering the place of the industry in the national economy.
In addition, the vandalisation of oil pipelines and other installations will lead to widespread environmental degradation and disaster.
In turn this will affect the livelihood and ecological security of local communities.
As experience from government’s use of force in the region in the early 1990s have shown, the declaration of a state of emergency may result in the renewal of piracy, cultism, hostage-taking, and kidnapping.
This will in turn be a setback for the gains of peace building already recorded in the area since the introduction of the Niger Delta Amnesty program in 2009.
Lastly, one of the most likely outcomes of the emergency rule will be the return of inter-militant fighting and vendetta.
Already, lines are drawn between the militants aligned with Wike and Fubara.
Such a development may dovetail into a major inter gang war with devastating implications for peace and development of the Niger Delta region.
What approach should the appointed administrator take?
The aftermath of the emergency declaration in Rivers State is dicey.
To make progress with his mandate – which is to restore order in the state – the administrator needs to adopt a completely depoliticised approach to the partisan dispute that’s led to the current crisis.
He has to initiate a credible peace process that is holistic and capable of alleviating the fears and doubts of parties.
The administrator has to adopt a strictly non-partisan, multi-stakeholder and inclusive approach to dealing with the crisis.
All the aggrieved parties must be treated fairly and reasonably.
There must be a conscious effort at buildings bridges at local levels.
These should be aimed at eliciting the buy-in of critical stakeholders and interested parties such as the militant groups and supporters of Wike and Fubara.
Lastly, the administrator has to be conscious and sensitive to the local issues and sensibilities that are at the root of the crisis.
Local problem require local remedies. An inward looking solution that carries everyone along, addresses the underlying issues and grievances, restores trust and goodwill, and transcends partisan divides, is the only route that will bring about a lasting solution to the Rivers state.
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Tier-one Lender, Fidelity Bank Plc., has announced the resumption of international transactions on its Naira Debit Cards.
This recommencement gives customers the freedom to make seamless payments abroad, online, and at ATMs outside the country.
The Divisional Head of eBanking, Fidelity Bank, Ifeoma Onibuje, shed light on the development.
Onibuje said: “We are delighted to inform the public that Fidelity Naira Cards are now enabled for global use.
“This means that our travelling customers can now utilize their Naira Debit cards outside the country to shop, spend and withdraw internationally without hassles.”
“Consequently, our customers can now spend up to $1,000 quarterly for international POS and online transactions; and withdraw up to $500 quarterly on international ATMs.”
The announcement offers Fidelity Bank customers another way to complete international transactions, in addition to the Bank’s existing foreign currency debit and credit cards.
The bank stated that it further reinforces its commitment to delivering solutions that fit seamlessly into customers’ lifestyles.
With Fidelity Bank’s VISA and Mastercard Naira Debit Cards, Nigerians can now enjoy effortless global access.
Beyond payments, Fidelity VISA cardholders, one of the variants of the bank’s card offerings, also enjoy premium travel and lifestyle benefits.
The benefits range from airport lounge and spa access via the Visa Airport Companion App, to fast-track immigration lanes and 20% discounts on SIXT car rentals worldwide.
This move, the bank said, also reflects its commitment to provide secure, convenient, and reliable banking services that empower customers in Nigeria and beyond.
The bank noted that it has deliberately made the process of getting a Fidelity Naira card seamless.
It stressed that customers can easily apply for their Fidelity VISA or Mastercard Naira Debit card via the Fidelity Mobile App or simply visit the nearest Fidelity bank branch to request for one and they can start transacting globally with ease.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
A Nigerian TikTok sensation known as “Geh Geh” has stunned the internet after pulling in over $30,000 from a single live session that attracted more than 177,000 viewers.
The young entertainer, who calls his platform the “University of Wisdom and Understanding,” has quickly built a cult following with his raw and unfiltered lectures about women, money, and survival in Nigeria.
During the live broadcast on Thursday, August 21, viewers showered him with virtual gifts that he later calculated to be worth over $30,000.
The milestone instantly pushed him into the spotlight as one of Nigeria’s fastest-rising online personalities.
Reacting in disbelief after the stream, Geh Geh said:
“More than 177,000 people watch my lectures today. Jesus! University of wisdom and understanding, the only university where once you graduate, woman go fear to ask you for money.”
Despite not having a formal education, Geh Geh proudly calls himself “the first illiterate to find a university in the history of Nigeria.” In a video after the viral live, he reminded fans of his humble background:
“I no be graduate too, but by the grace of God, I don find school. I be orphan, but now Nigerians don show me love.”
The TikTok star admitted he was overwhelmed by the generosity of his supporters.
“See gift I made over… more gift when they give me today is worth about $30,000. I no go take this love for granted, because I no really do anything for am.”
His rise has been hailed as proof of how social media is transforming lives in Nigeria. With no degree, no rich background, and no industry connection, Geh Geh has managed to build a fanbase that now calls themselves “students” of his unusual university.
Still, his controversial views on women and relationships continue to spark heated debates. While some dismiss his advice as reckless, others insist his boldness speaks directly to Nigeria’s frustrated youth.
Reflecting on his sudden fame, Geh Geh compared himself to great thinkers:
“If Nigeria be country wey value great people, by now them suppose dey compare people like me with Aristotle, Wole Soyinka, Einstein… but I thank God say people dey see my head and my own difference.”
From an orphan with no prospects to a viral star earning in dollars, Geh Geh’s story has become one of digital empowerment.
His journey shows how platforms like TikTok are creating new forms of fame, money, and influence for Nigerians especially those once written off by society.
The United Kingdom has once again cemented its position as Nigeria’s leading source of foreign capital, accounting for more than N5.5 trillion in inflows during the first quarter of 2025, according to the latest data from the National Bureau of Statistics (NBS).
Figures from the Capital Importation Report show that capital from the UK rose to $3.68bn (N5.52tn) in Q1 2025, representing 65.26% of Nigeria’s total $5.64bn inflows for the quarter.
This marked a 29.2% rise from the $2.85bn recorded in Q4 2024 and more than double the $1.81bn inflows seen in Q1 2024.
This underscores Britain’s dominance in Nigeria’s external financing profile and highlights the strong bilateral financial ties between both nations.
Breakdown of Q1 2025 Capital Inflows by Country
United Kingdom: $3.68bn (65.26%)
South Africa: $501.29m (8.88%)
Mauritius: $394.51m (6.99%)
United States: $368.92m (6.54%)
United Arab Emirates: $301.72m (5.35%)
Together, these top five countries accounted for over 92% of Nigeria’s capital inflows, reflecting both the concentration of Nigeria’s foreign investments and the risks of over-dependence on limited markets.
Other contributors included:
Cayman Islands: $114.76m (up sharply from $0.64m in Q4 2024)
Belgium: $70.54m
France: $47.33m
Netherlands: $42.68m (down significantly from $425.61m in Q4 2024)
Singapore: $36.79m
Overall, capital importation into Nigeria stood at $5.64bn in Q1 2025, up 10.9% from Q4 2024’s $5.09bn, and a remarkable 67.1% higher than the $3.38bn recorded in Q1 2024.
The NBS noted:
“Capital Importation during the reference period originated largely from the United Kingdom with $3,681.96m, showing 65.26 per cent of the total capital imported.”
A separate survey by Strategy Management Partners (UK) reveals that British companies are increasingly targeting Africa as a strategic growth frontier.
50% of UK firms with annual turnover above £20m are already operational in Africa and planning expansions.
Another 28% of executives said they are interested but remain cautious about entry strategies.
Africa’s appeal lies in its resource wealth and demographic potential:
30% of the world’s mineral reserves
8% of natural gas reserves
12% of oil reserves
65% of the world’s arable land
Projected to host 25% of the global workforce by 2035
Seven key sectors remain magnets for foreign capital inflows into Nigeria and Africa at large:
1. Technology
2. Oil & Gas
3. Power and Renewable Energy
4. Agriculture
5. Manufacturing
6. Infrastructure
7. Strategic Minerals
Analysts warn that while Nigeria’s reliance on UK-driven inflows reflects strong global confidence, the concentration of sources exposes the economy to external shocks if investor sentiment shifts in these countries.
Diversification of investment partnerships particularly within Asi
a, the Americas, and intra-African trade will be crucial to ensuring long-term resilience in capital inflows.
The United States government has said that Nigeria’s new N70,000 minimum wage has lost real value due to the sharp fall of the naira, leaving millions of workers trapped in poverty.
According to the 2024 Country Reports on Human Rights Practices, released by the U.S. Department of State’s Bureau of Democracy, Human Rights, and Labour, the wage translates to just $47.90 per month.
The report noted that currency devaluation and weak enforcement have undermined the wage increase.
The report also revealed that many states are yet to implement the new wage law. Several governors cited financial challenges as the main excuse.
Even where the law exists, compliance remains poor because of limited labor inspectors and weak oversight from authorities.
Wage Devaluation and Exclusion
The report highlighted that firms with fewer than 25 workers are excluded from the minimum wage law, leaving millions of employees without protection.
This also explained that about 70 to 80 percent of Nigeria’s workforce operates in the informal sector, where wage and labor rights are almost never enforced.
This means a majority of Nigerians continue to earn far below the national benchmark, despite the government’s approval of N70,000 as the new minimum wage.
The U.S. report stressed that the naira’s sharp decline, trading above N1,500 to the dollar, had worsened the wage erosion. This has left workers unable to afford basic needs, pushing many deeper into poverty.
Human Rights and Labor Challenges
The document pointed out that weak enforcement of labor laws contributes to worsening poverty levels in the country.
Workers in the informal sector, such as street vendors, artisans, and small traders, rarely benefit from labor protections.
The report also noted that Nigeria’s minimum wage is rarely sufficient to cover basic food, housing, and transport needs.
This has further exposed structural gaps in the government’s approach to economic reforms and poverty reduction.
Governors Push Investment Platform
Meanwhile, the Nigeria Governors’ Forum (NGF) has launched a new investment initiative called NGF Investopedia.
The platform seeks to attract capital flows into bankable projects across all 36 states, with the goal of tackling Nigeria’s annual $100 billion infrastructure financing deficit.
The launch event in Abuja gathered governors, international partners, and investors. The forum described the platform as a long-term strategy to unlock growth opportunities across states and strengthen Nigeria’s subnational economies.
NGF Chairman and Kwara State Governor, Abdulrahman AbdulRazaq, said Nigeria must urgently leverage its human and natural resources to address poverty and joblessness.
“Here is Africa’s largest economy, endowed with abundant human and natural resources,” he said, stressing that state governments must play a bigger role in attracting investments and supporting local industries.
A Widening Gap
The contrast between the U.S. report on wage decline and the governors’ push for investment highlights Nigeria’s economic paradox.
While authorities promote foreign capital inflow, millions of workers continue to survive on wages that have lost most of their value.
With inflation rising, food prices soaring, and the naira weakening, the gap between earnings and cost of living keeps widening.
Unless enforcement improves and the informal sector is integrated into wage protections, the N70,000 benchmark may remain symbolic rather than effective.
Fidelity Bank may have hit another milestone the Fidelity Naira Card is now accepted globally.
This was disclosed in a message sent to Diaspora Digital Media (DDM) via email on Monday.
According to the statement entitled “Your Fidelity Naira Card Now Works Globally; Shop, Pay and Withdraw with Ease!“, customers can buy favourite global brands online using their Fidelity Naira Card.
The band also stated that they can equally pay at POS terminals abroad and make cash withdrawals at ATMs as they travel.
The message reads:
“We’re excited to let you know that your Fidelity Naira Card is now enabled for global use — so you can shop, spend and withdraw internationally with confidence.
“Here’s what you now enjoy every quarter:
|
Channel |
Transaction Limit |
| ATM Withdrawal abroad | $500 |
| Online/Web & POS Payments | $ 1,000 |
“What does this mean for you?
- Shop your favourite global brands online
- Pay at POS terminals abroad with ease
- Withdraw cash at ATMs when you travel.”
The statement, however, noted that the $1,000 quarterly limit applies to all international transactions combined, including ATM withdrawals, online purchases, and POS payments.
The bank urged customers who may need assistance with setting card limits or activating their cards for global use, to contact the bank’s customers care “Centre Trueserve”, which is available round the clock, whether in Nigeria, or outside the country.
“Your world, your card — spend smart, spend globally with Fidelity,” the message concludes.
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