Reported by: Ijeoma G | Edited by: Gabriel Osa
Port Harcourt — Nigeria’s Federal Capital Territory (FCT) Minister and former Governor of Rivers State, Nyesom Wike, has publicly accused high-profile politicians of scheming to exploit the substantial funds held in Rivers State’s treasury, sparking renewed political tensions in the oil-rich South-South region. The allegations centre on an estimated N600 billion reportedly left in the state coffers following the end of a six-month federal emergency rule imposed in 2025, and Wike claims opportunistic political actors are circling the funds for personal gain rather than focusing on governance and development.
Wike’s comments were delivered at a weekend event attended by supporters and lawmakers in Port Harcourt, where he said that the disclosure of the large sum by Governor Siminalayi Fubara had triggered a scramble among politicians within and outside Rivers State who see the funds as a source of personal enrichment. According to the minister, such interests undermine democratic processes and distort political priorities ahead of the 2027 governorship elections.
“The experience in Nigerian politics shows that politicians like Rivers’ money,” Wike said, asserting that the public acknowledgement of N600 billion remaining in the state accounts had encouraged visitors to Rivers State whose motives, he claimed, were not tied to genuine political or developmental engagement but to access the funds. “If you want to make money in Rivers today, I don’t know how you made the mistake of announcing that there is N600 billion,” he remarked.
Wike’s allegations highlight the fraught political landscape in Rivers since the lifting of emergency rule earlier this year. The emergency, declared by President Bola Tinubu in March 2025 amid a prolonged crisis between the state executive and legislature, saw the suspension of Governor Fubara and his deputy, as well as members of the Rivers State House of Assembly, with a sole administrator, Vice Admiral Ibok-Ete Ibas (retd.), appointed to manage state affairs. Democratic governance was restored in September when the emergency mandate expired.
Governor Fubara, for his part, had disclosed that he met more than N600 billion in the state’s coffers upon resuming office after the emergency period, a figure that reportedly reflects revenue inflows and unspent balances accumulated during Ibas’s tenure, alongside ongoing expenditures from previously approved projects. Fubara has defended his administration’s stewardship of public funds, insisting that transparency and accountability remain central to his fiscal approach.
The controversy has drawn criticism from multiple quarters. Some local lawmakers have questioned the state government’s prioritisation of resources, particularly in areas such as education and infrastructure, given the large funds available. Speaker of the Rivers State House of Assembly, Martin Amaewhule, has highlighted deteriorating conditions in public schools and urged that available finances be deployed to address pressing social needs.
Wike’s statement also touched on wider issues within the state’s ruling All Progressives Congress (APC) and its alliance dynamics. His remarks appeared to allude to recent political visits and endorsements by prominent figures to Rivers State and Governor Fubara, which Wike characterised as performative gestures aimed at securing influence over the state’s financial resources. “Everybody who comes to Rivers State today must say, ‘the president is happy with you,’ and they collect,” he said, a comment interpreted as a criticism of political opportunism and transactional politics.
Political analysts suggest that Wike’s intervention reflects broader tensions within Rivers’ ruling elite and national political players as the country gears up for the 2027 electoral cycle. Rivers State, one of Nigeria’s most economically significant regions due to its oil production, holds considerable weight in national political calculations. Control over its resources and political machinery is seen as strategically important by various factions within the APC and opposition parties.
Critics of Wike, however, argue that his focus on alleged “money politics” risks overshadowing substantive policy debates and governance challenges in Rivers. Some observers note that concerns about public sector resource management should be addressed through institutional accountability mechanisms, including financial audits and legislative oversight, rather than political rhetoric alone. They contend that transparency regarding state finances ought to be strengthened to build public confidence and to clarify how large balances have been accrued and are being utilised.
Complicating the discourse is the lingering fragmentation within Rivers politics. Although the emergency rule ended months ago and reconciliation efforts were reported between Wike and Fubara earlier in the year, relations have remained strained, with each side portraying the other as responsible for political instability. In March 2025, a peace process brokered by President Tinubu resulted in a public rapprochement, but the current debate over state coffers suggests unresolved divisions and competing narratives about leadership, control and direction in Rivers.
Civil society groups and governance advocates have weighed in on the issue, urging political actors to prioritise public interest and the welfare of Rivers residents over factional disputes. Calls for greater transparency in fiscal reporting and disbursement have grown louder, with activists stressing that residents deserve assurance that state funds are being used to improve infrastructure, healthcare, education and economic opportunities. They argue that allegations of political scheming can erode trust in government institutions if not addressed with clarity and accountability.
The state’s political climate remains charged as stakeholders prepare for a critical electoral season that will shape Rivers’ leadership for the coming years. With the N600 billion issue at the centre of public debate, how political figures navigate the discourse on resource management and governance is expected to influence voter perceptions and intra-party alignments as Nigeria approaches another cycle of competitive elections.
Despite the contentious atmosphere, both former and current leaders have reiterated commitments to the rule of law and democratic processes. The Rivers State government has continued its fiscal operations and budgeting, with the 2025 state budget already transmitted to the National Assembly earlier in the year, outlining planned expenditures for social services, infrastructure and economic development.
As the debate intensifies around the N600 billion in state coffers, the broader implications for governance, political alliances and public trust in Rivers State — and Nigeria at large — remain deeply significant. Citizens and civil society observers alike will be watching closely to see how political actors manage the balance between competition and cooperation, resource stewardship and accountability, in one of the nation’s vital economic hubs.
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