Economy takes backstage as Tinubu slams emergency rule on River

• Suspends Gov Fubara, deputy, assembly for 6-mnths
• 2025 budget permanently stalled

Ben Eguzozie, in Port Harcourt

The economy of oil-rich Rivers State, with a GDP size of more than $28.4bn, has taken a disreputable backstage as President Bola Tinubu finally weighed in over several months of escalating political tensions in the state, appointing a sole administrator to superintend the affairs of the state for six months.

Ibok-Ette Ibas, a navy rear admiral and former chief of Naval Staff 2015-2021, who hails from Nko, Yakurr local government area of Cross River State, will govern with emergency powers, giving no room to legislative sessions or sundry democratic processes.

The state is now set backwards, as major democratic institutions have been sacked, with Governor Siminalayi Fubara, his deputy Ngozi Odu, and the entire 33-member state House of Assembly led by Speaker Martin Amaewhule, suspended for six months at the most.

The latest in the seven months of political melee in the oil-rich state was the notice of “gross misconduct” brought by the  Martin Amaewhule-led lawmakers, accusing Governor Fubara and his deputy, Ngozi Odu, of gross misconduct, culminating in his perceived inability to govern the state.

Key political observers had interpreted it to be the beginning of impeachment of the governor and his deputy. Fubara has hardly had a breather since August 2023, barely three months after being sworn-in as chief executive of the state.

The lawmakers had cited Section 188 of the Nigerian Constitution and other relevant laws, which gave them strength to undertake what development experts described as an ‘economically ruinous journey’.

The notice, signed by 26 lawmakers, was tabled for debate, marking the first step in potential impeachment proceedings against the governor and his deputy, who has had a most-turbulent administration in the state. The development further heightens the already tensed political contention between the executive and legislative arms in the state.

As it stands, the state’s 2025 appropriation bill proposal of N1.188trn, which was slated to be re-presented before the Assembly appears now permanently stalled, as Governor Fubara, now ousted from office for six months,  might not have the opportunity to perform that executive function should he and the assemblymen regain their offices by September 2025 or thereabouts.

Will Ibok-Ette Ibas present any budget? Some economists at the South-South chapter of the Institute of Chartered Economists of Nigeria (ICEN) told our correspondent they were doubtful of such development.

In particular, the sole administrator, Ibok-Ette Ibas  will not make any new laws. Though he could however, be free to formulate regulations as may be found necessary to do his job, but such regulations will need to be considered and approved by the Federal Executive Council and promulgated by the President for the state.

In the next couple of months, there will be fireworks of emergency regime by a military officer, who is untrained for democratic governance. While all this goes on, the state’s economy will take its worst bashing. No economic activity can expectedly happen in an undemocratic environment, as investors,  bullish as ever, will choose to locate their investments to economies with extant laws.

The lawmakers had accused Governor Fubara of several offences, including alleged reckless and unconstitutional spending of public funds, obstructing the Assembly’s activities, and appointing individuals to government positions without the required screening and confirmation. Other allegations include withholding salaries, allowances and funds meant for the legitimate Rivers State House of Assembly, and seizing the salary of the Clerk, Emeka Amadi.

For the deputy governor Ngozi Odu, the Amaewhule-led lawmakers accused her of “conniving and supporting the illegal appointment of persons to government positions without the required screening and confirmation.”

The Assembly Speaker, Amaewhule said the gross misconduct allegations were raised by “not less than one-third of the membership of the Rivers State House of Assembly.”  Governor Fubara was to have  responded to the allegations “within 14 days of the presentation of the notice to the Speaker of the House of Assembly (whether or not any statement made by the holder of the office in reply to the allegation contained in the notice), the House of Assembly shall resolve by motion, without any debate, whether or not the allegation shall be investigated,” citing Section 188(3) of the Constitution.

But all that is now consigned to history. How the economy of Rivers State will pan out in the next six months under a military sole administrator, remains a matter of conjecture.