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Tuesday, April 15, 2014 Vol. 1 No. 56

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he National Conference again adjourned

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Nigeria’s most authoritative newspaper in politics and business

Confab: Committee list splits delegates Louis Achi, Onwuka Nzeshi and Lateef Ibrahim

www.newtelegraphonline.com

lAgbakoba, Adebanjo, confront Kutigi

abruptly yesterday following the inability of the secretariat to release the

list of committees and the disagreement among delegates over the number

of committees as well as their responsibilities. Chairman of the conference,

Justice Idris Kutigi, who adjourned the session shortly after it commenced, said the

conference would reconvene. The adjournment, Kutigi said, was to enable the secretariat conclude its work on constituting the 20 committees designed for the conference.

FG, investors’ N8.1tr refineries deal collapses Page }25

Terror: Hell in Abuja CONTINUED ON PAGE 11

l Over 200 feared dead in bomb explosion lBaby survives, mom dies lSurvivors recount ordeal lJonathan, Mark, Tambuwal, Kalu, Sultan, Atiku, others condemn attack Suleiman Bisalla, Emmanuel Onani, Onyekachi Eze, Obinna Odoh, Namdi Amadi, Emmanuel Anule

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n early morning car bomb yesterday killed over 200 people and injured many others at a crowd-

ed bus park in Nyanya, a suburb of the Federal Capital Territory, Abuja. Nobody has claimed responsibility for the attack.

Even Boko Haram insurgents have said nothing about the bomb blast. An official statement from the police headquar-

BLACK MONDAY BLAST

ters said 71 people died while 124 others were injured, many of them critically. Witnesses said the death toll could be in

the region of 200, and it is likely to increase in the coming days. C O N T I N U E D O N PA G E 2

MORE STORIES, PICTURES ON PAGEs 2-6

Photos: Timothy Ikuomenisan


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BLACK MONDAY BLAST

Terror: Hell let loose in Abuja C o n t i n u e d f r o m Pa g e 1

Some of those who survived “had amputated lower and upper limbs; some were unconscious and critically injured,” according to Dr. Reuben of the Nyanya General Hospital. The blast occurred at about 6:45a.m. –a peak hour - at the ever-busy park located at the foot of the popular Nyanya Bridge where workers and other commuters entering the city centre usually board the high capacity mass transit buses popularly called ‘El-Rufai’. The park serves as the transit needs of residents in Nyanya, Karu, Jikwoyi, Kurudu, Mararaba and other adjoining suburbs. Scores of copses, many of them burnt beyond recognition were deposited at the morgue in several hospitals in the federal capital where the injured are also being treated. The explosion did not spare children and women, whose dismembered bodies were trapped everywhere, with shoes, bags and other items seen everywhere. It also affected vehicles moving at the point along the Abuja-Keffi Road, about three kilometres away from the Mogadishu Barracks, better known as Abacha Barracks, where a bomb blast killed at least 11 people on Christmas eve in 2010. It was a gory scene, as many who besieged the scene could not identify corpses of relatives and friends, who left their houses for work, but were caught in the blast. However, rescue workers at the scene gathered from the ruins, identity cards, ATM cards and handsets which could be used to identify those involved. A woman, who was seen crying and rolling on the ground, said her daughter may have been caught in the explosion. She said the daughter came to board a bus at the park and her number was not connecting.

At the National Hospital, the Assistant Chief Information Officer, Mrs Labaran Rabiah said 15 copses were brought into the hospital as at 11a.m. She, however, said many copses were brought in later, but could not give any figure. At Maitama General Hospitals, a source who preferred anonymity said 13 copses and 28 injured persons were brought in initially, but two later died while being treated. When our reporters visited the Wuse General Hospital officials refused to talk. Witnesses, who also took part in initial rescue operations, said about three of the 54-seater high capacity busses were fully loaded and dozens of commuters were in a queue boarding a fourth bus when the bomb went off from salon car parked not more than 15meters in front of the buses. There were smaller buses and taxes loaded in the park, and about to leave for various destinations outside the FCT, at the time of the blast, one witness said. Many of the smaller busses and taxes were severely burnt before men of the fire service arrived at the scene. The bomb left behind a crater, about three meters deep and approximately eight meters wide, and tore the salon car suspected to be an Opel Vectra into shreds. Another policeman who did not give his name officially later told some journalists that the car registration number is XQ 229 LSD. New Telegraph also noticed that the engine number is 26 A 5 943032621. One eyewitness said yesterday’s deadly bomb explosion occurred when an unknown driver drove straight into the park and carefully abandoned the ill-fated car there. Speaking with New Telegraph, an eyewitness, who gave his name simply as Godwin, said: "We saw a red gulf car drive in, and few minutes after the oc-

cupant parked and left it there unchallenged, then explosion happened." Another witness, who was close to the park, when the bomb exploded, said: "I had to run back, but what I can say is that hundreds would have died, since the park is always crowded." At about 7:15a.m. when New Telegraph visited the scene of what could arguably be considered as the deadliest explosion in the FCT so far charred remains of victims littered the park.

Our correspondent counted over 100 bodies, including those trapped inside the already-loaded buses. Some were caught sitting in wheelbarrows, motorbikes riders as well as passers-by. A security operative, who also did not want his named, told New Telegraph that it was a "highcalibre bomb". Our reporters sighted 10 ambulances conveying burnt bodies to Asokoro General Hospital and National Hospital, respectively while scores of in-

jured persons were moved to the nearby Nyanya General Hospital. Rescue operations was carried out by a joint team of Policemen, National Emergency Management Agency (NEMA) personnel, Fire Service men, personnel of the Nigeria Security and Civil Defence Corps (NSCDC), as well as members of the Federal Road Safety Corps (FRSC). Meanwhile, another calamity was averted, when motorbike operators, popularly called okada,

attempted to take the laws into their hands, in protest against the dead of some of their members, as security operatives promptly dispersed them. Addressing the press, shortly after the president's departure, Frank Mba, the Force Public Relations Officer (FPRO), disclosed that a total of 71 persons were confirmed dead, while 124 others were wounded, and were receiving treatments at various hospitals in the capital city.

Baby survives, mother dies Johnchuks Onuanyim Abuja

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baby was among those that survived the bomb blast yesterday, while the mother died in the attack. This was revealed by a medical doctor at the Asokoro General Hospi-

tal in Abuja yesterday. The doctor, whose name was not disclosed, was the person that read out names of those being treated for one injury or the other at the Accident and Emergency Unit of the hospital. The Asokoro Hospital

that was visited by the President, Dr. Goodluck Jonathan and other government functionaries including the Minister of Interior, Comrade Abba Moro was besieged by people looking for their relations. The gathering of people in the hospital

premises, who wanted to know if their relations were among those alive at the Emergency unit, led to the Doctor from the Accident and Emergency Unit to read out 27 names of victims including a baby, undergoing various degree treatments.

Personal effects of victims

Chronicle of bomb explosions in Abuja Emmanuel Onani Abuja

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ctober 1, 2010: Car bomb explosion, suspected to have been masterminded by members of the Movement for the emancipation of the Niger Delta (MEND), rocked Shehu Shagari Way, less than 500 metres away from

the Eagle Square, venue of the celebration of the 50th Anniversary of Nigeria's independence. About 12 persons were feared killed, with scored injured. December 31, 2010: An explosion tore through the crowded Mammy market in the Mogadishu Cantonment (Abacha Barracks).

Scores of people died. June 16, 2011: Suspected members of the deadly Boko Haram sect, attacked the Police Force Headquarters in Abuja, with Improvised Explosive Devices (IEDs). A gallant traffic warden died as a result of the attack August 26, 2011: Car bomb explosion by sus-

pected Boko Haram fighters hit the United Nations Building in Abuja. Casualty figure: About 18 were feared killed. April 26, 2012: A deadly bomb explosion hit ThisDay office, Abuja. Of ficial casualty figure by the National Emergency Management Agency (NEMA), was put at 4.


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BLACK MONDAY BLAST

Scenes from the bomb blast in Nyanya, Abuja...yesterday. PHOTOS: TIMOTHY IKUOMENISAN AND ELIJAH OLALUYI

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BLACK MONDAY BLAST

Inadequate facilities, cause of high casualty figure – Doctor Chukwu David, Onyekachi Eze, Nnamdi Amadi and Obinna Odoh Abuja

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ack of adequate facilities at the nearby Nyanya General Hospital and ambulances for the evacuation of the critically injured victims of the yesterday’s bomb blast at Nyanya Motor Park might have contributed to the high casualty figure of the victims. When New Telegraph visited the hospital, those initially rushed there for treatment were later evacuated to either Asokoro General Hospital or National Hospital, which are several kilometres from the scene of the blast. A doctor at the hospital who gave his name simply as Dr. Reuben said what they were able to do was to stabilise them and later transfer them to the nearest hospitals in Asokoro and Maitama. Reuben, who confirmed that about 30 injured people had already been treated, disclosed that “many had amputated lower and upper limbs; some were unconscious and critically injured”. One of the Nurses also confirmed that large number of severely injured

• Victims recount ordeal, families besiege hospitals victims of the blasts was rushed to the hospital. She lamented lack of ambulances for immediate evacuation of the critically injured victims as there was obvious lack of facilities to cater for all the victims. Raphael Imoh, one of the victims, who managed to escape with minor injury on his right leg narrated his miraculous survival. He said he was at the Urban Mass Transit Park on his way to work when he heard a big sound. “My whole body went numb, and then I felt a sharp pain on my leg.

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he Socio-Economic Rights and Accountability Project (SERAP) yesterday called on the Federal Government to step up measures to combat the problems of insecurity facing the nation. Expressing its displeasure over the killings of Nigerians in a bomb blast in Abuja, the group said; “The unlawful and unnecessary killings of many

to National Hospital for proper medical attention,” she added in tears. It was a chaotic situation at the hospital, as people trooped into the Accident and Emergency Unit in search of their relatives and friends. Staff of the hospital had a difficult time in controlling the crowd. New Telegraph also visited the National Hospital where Mrs. Labaran Rabiah disclosed that about 15 corpses had been received as at 11 a.m. She could not however, give the figure of the injured persons but said

they were responding to treatment. One of the victims, Mr. Cosmas Ugwuanu, who had his two ears badly injured by the blast, explained that he was about to board a bus to his place of work when the incident happened. Also, Mr. Nuhu Abdullahi, another victim whose left hand and two legs were badly injured equally said that he was in a haste to his workplace when the unfortunate incident happened and now found himself in the agonizing condition.

Fire fighters at the scene

SERAP tasks Jonathan on fresh strategies Dayo Ayeyemi

When I looked down, I discovered my shoe was torn off from my leg and I was bleeding on my right leg. I thank God for my life because the kind of things I saw there, honestly it was terrible, I just thank God,” he added. Mrs. Gift Emmanuel, who is a sister to one of the victims, said her brother, Danjuma just left the house for Mpape, a suburb of the FCT, where he works, only for her to be called to come and see her brother at Nyanya Hospital. “They said he is critically injured that he should be transferred

Nigerians at the Nyanya Motor Park, Abuja, showed that the measures the government is taking to tackle the Boko Haram phenomenon are inadequate and simply not working.” The group urged President Goodluck Jonathan to show leadership by urgently initiating fundamental changes in the security strategy to end continuing civilian casualties and a climate of insecurity across the country.

Tinubu: Perpetrators must be punished Temitope Ogunbanke

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or mer gover nor of Lagos State and national leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, has condemned in strongest terms the Nyanya bombings and the violent attacks perpetrated by Boko Haram. Tinubu, in a statement made available to journalists yesterday, described the bomb blasts as another gloomy chapter not only for families, but it reinforces the fear and vulnerability of Nigerians. His words: "The killings are detestable, especially those of students and other innocent Nigerians. All peace loving Nigerians must condemn this mindless slaughter in the strongest of terms. No religion, Islam or Christianity, condones the killings of innocent lives for which there can be no justification. "I call upon the law enforcement agencies and the President to spare no effort in bringing the perpetrators to book. The Jonathan Presidency must do all in its powers and within the ambit of the law to halt the Boko Haram nightmare.

15 corpses awaiting evacuation at Wuse hospital Chukwu David Abuja

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bout 15 corpses, who died at the Nyanya Motor Park bomb blast yesterday morning, were wrapped in black body bags, and packed outside the mortuary, awaiting evacuation into any available morgue when the New Telegraph visited the General Hospital, Wuse, Abuja. This was as the Chief Medical Director of the hospital, Dr. Obiora Chibundu, confirmed that 12 others in critical conditions, were receiving

• As Abba Moro says perpetrators will be punished treatment at the Accident and Emergency unit of the hospital. While complaining that the hospital's morgue had been over-stretched by the number of corpses brought for deposit, Chibundu also explained that 38 out of the 58 victims brought to his hospital were male while 20 were female. New Telegraph also learnt from some officials of the Federal Ministry of Health who visited the hospital that 121 victims were recovered from the scene of the incident and

taken to the various hospitals in the nation's political capital. Moreover, the Minister of Interior, Mr. Abba Moro, Senator Philip Aduda, who represents the FCT in the Senate and the Commandant-General of the Nigerian Security and Civil Defence Corps, Mr. Ade Abolurin, were at the hospital to commiserate with the injured victims. Moro assured Nigerians that the perpetrators would be fished out and brought to book to face the full weight of the law for their atrocities against

humanity. He said: "It is only unfortunate that at this time of nation building, this is happening as a setback to the whole process." The minister, however, said that government was determined to do everything possible to forestall the situation. He further said that it would be very premature for anybody to arrive at any figure of the victims right now but assured that arrangements were being made to transfer the corpses to available morgues.


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BLACK MONDAY BLAST

Stop the blame game – Atiku

Security beefed up in Abuja

Onyekachi Eze

Emmanuel Onani Abuja

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ormer Vice-President, Alhaji Atiku Abubakar, yesterday asked political stakeholders in the country to stop the blame game and find a lasting solution to the issue of insecurity confronting the nation. He said politicians and others trading blames on the issue were not helping matters as such would not solve the problem. Atiku, in a statement by his media office in Abuja, said the latest bombings by insurgents should be a wake-up call to Nigerians on the imperative to work together to end this scourge and not to trade blames. “As a country, we are not doing enough to focus on the issue and find solutions. We are all guilty of dissipating energy and trading blames, none of which is able to save lives or change the status quo,” he added.

Jonathan (middle), Mark (left) and others... yesterday

We'll overcome Boko Haram soon - Jonathan Anule Emmanuel and Emmanuel Onani

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resident Goodluck Jonathan has, for the umpteenth time, reassured Nigerians that the challenge of insecurity, occasioned by the activities of the Boko Haram members, will soon be a thing of the past. "Government will do everything to move our country forward; we shall overcome it. The issue of Boko Haram is temporary," Jonathan declared.

Jonathan gave the assurance yesterday, when he visited the scene of the dawn bomb explosion at Nyanya park, Abuja. The president visited the bomb blast scene in Nyanya area of Abuja shortly after the incident yesterday. The President accompanied by Senate President David Mark and chairman of the Peoples Democratic Party (PDP), Adamu Muazu, arrived the scene at about 12: 20pm, was received by

the Chief of Defence Staff (CDS), Air Chief Marshal Alex Badeh, Service Chiefs, Inspector General of Police (IGP), Mohammed Abubakar, National Security Adviser, Col. Sambo Dasuki (retd), the Director General of the Department of State Servive (DSS), Ita Ekpenyong as well as the Minister of Interior, Abba Moro. President Jonathan visited the scene to ascertain the level of destruction caused by the blast and sympathised with

families of those who lost loved ones and the injured. Official reports indicate that 71 died instantly from the explosion while 124 persons were seriously injured and are receiving medical attention in various hospitals across Abuja metropolis. Addressing journalists after inspecting the scene, President Jonathan said: "Let us collectively express our condolences to the families of those who lost loved ones."

Mark, Tambuwal: War on defenceless citizens criminal Chukwu David and Philip Nyam

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resident of the Senate, Senator David Mark yesterday condemned in strong terms the bomb blast in Nyanya. He also shelved his trip to Ibadan, the Oyo State capital, where he was supposed to be given a chieftaincy title by the Olubadan of Ibadan. Mark, who was visibly worried by the tragic bomb attack at Nyanya, told the perpetrators of the heinous crime to have a rethink on their devilish activities in the country, saying that the attack was a needless war on Nigerian citizens. "It is hard to believe that this is happening to us, no matter the anger or grievances in anybody's mind. This war

on defenceless citizens is uncalled for. This is inhuman and unarguably ungodly," Mark said. Mark, who was already at the Nnamdi Azikiwe International Airport, Abuja enroute to Ibadan, Oyo State capital to attend the birthday of the Olubadan of Ibadan, Oba Samuel Odulana Odugade 1, on his 100 years and receive a chieftaincy title from the revered monarch, immediately cancelled his journey in honor of the victims. In a statement signed by the Special Adviser to the President of the Senate on Media and Publicity, Mr. Kola Ologbondiyan, Mark sympathised with the victims and reminded Nigerians of the need to be their brothers' keeper at all times.

Mark called on security operatives to collaborate with one another just as he counselled them to be more proactive in order to end this menace . Similarly, the spokesman of the Senate, Senator Enyinnaya Abaribe, in his reaction to the blast, described the act as callous and wickedly. Abaribe said the bomb blast is one incident by the evil minds that should prick Nigeria's collective consciousness. Also, the Speaker, House of Representatives, Hon. Aminu Tambuwal, has condemned the bomb blast. This was contained in a statement issued by his Special Adviser on Media and Public Affairs, Malam Imam Imam, in Abuja.

A mixture of flesh and blood

An injured victim being assisted by emergency workers

ecurity operatives in the Federal Capital Territory, Abuja, have been put on the red alert, to forestall any further breach of peace, in the aftermath of yesterday's bomb explosion in Nyanya. Force Public Relations Officer, CSP Frank Mba, made the disclosure earlier, at the scene of the incident. "The FCT police are already on red alert; security in and around Abuja is being strengthened; we are paying very close attention to all vulnerable points. "We are also paying close attention to motor parks. We advise the public to avoid unnecessary huge crowd. We are also paying close attention to government buildings. "We want to appeal for calm; experts from the Bomb Disposal Squad are on ground, the police are working with other security agencies.”


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BLACK MONDAY BLAST

Yero, Sultan, Kalu deplore explosion

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ultan of Sokoto, Alhaji Sa’ad Abubakar III, has condemned yesterday’s explosion at Nyanya Park, Abuja, calling for collective efforts toward addressing the issue of insecurity in the country. Abubakar made the remark during a central council meeting of the Jama’atu Nasril Islam (JNI) yesterday in Kaduna. The Sultan ccommiserated with families of the bereaved and prayed God to grant eternal rest to the departed. He said: “We never

thought that such things will ever come to Nigeria some years back, but they are with us right now. It is left for us to wake up from our deep slumber and face the challenges. “We condemn what happened this morning in Nyanya, Abuja, and we pray that Almighty Allah will expose whoever is behind it and all other mayhems in this country. He urged Nigerians to discard ethno-religious sentiments and strive toward promoting peaceful coexistence and harmony. “All hands must be on deck to find a lasting so-

lution to this problem. It is high time we put sentiments aside, sentiments of religion, ethnicity and see how we can take our country out of these killings.” The Sultan, therefore, reiterated the commitment of religious and traditional leaders toward promoting peace and urged governments at all levels to put more efforts toward addressing the security challenges facing the nation. Kaduna State governor, Ramalan Yero, also urged Nigerians to follow the tenets of their religion,

which preached peace and sanctity of human lives. Yero called for fervent prayers and urged citizens to shun vices. The governor urged religious organisations to assist government toward tackling poverty, insecurity, unemployment and the high rate of illiteracy among the people by initiating programmes that would address the problems. Former governor of Abia State, Dr. Orji Uzor Kalu has condemned the attack on innocent Nigerians. Kalu sympathised with

the victims of the attack He called for concerted efforts among stakeholders to stem the rising terrorism in the country. “Today's blasts in our urban political centre should send a much-needed signal to the world community that collaborative anti-terrorism efforts must be escalated now. As global partners create innovative avenues to work with our military and counter-terrorism forces, the threat to our territorial integrity and role as Africa’s economic figurehead has never been more clear and present

than here in Abuja and now for Nigeria. "As surgeons hurriedly work to save those who were gravely injured in the blasts, through the smoke of the ensuing blaze we must gather ourselves composedly and vigilantly begin to work with the international community to once and for all eradicate the threat of terrorist sects and any prospects that they could return,” he said. The Christian Association of Nigeria had also condemned the bomb blast, describing it as inhuman.

Saraki: We need action on security, not rhetoric Biodun Oyeleye Ilorin

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hairman, Senate Committee on Environment and Ecology, Dr. Bukola Saraki, yesterday asked President Goodluck Jonathan to convey a bipartisan meeting of political stakeholders and religious leaders to discuss the way out of the security challenges facing the country. Saraki, who is the immediate past governor of Kwara State, made the

Scene of the bomb blast at Nyanya, in Abuja….yesterday. PHOTO:TIMOTHY IKUOMENISAN

call in a statement while reacting to the deadly bomb blast. He said action and commitment were needed to tackle the growing menace of insecurity, if there would be a way out. He expressed concern that the spate of insecurity has weakened the national economy as well as the political strength of the nation; hence the need for all leaders to put aside personal feelings and do something that will end the recurring carnage.

Blast politically motivated, says PDP APC calls for national security summit Onyekachi Eze l Blasts PDP over accusation T ABUJA

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he Peoples Democratic Party (PDP) yesterday attached political undertone to the blast. The party said the blast could be traced to the utterances and comments of desperate persons who seek to undermine and discredit the PDP-controlled Federal Government and make the nation ungovernable for President Goodluck Jonathan. PDP in a statement by its National Publicity Secretary, Chief Olisa Metuh, pointedly accused leaders of the opposition All Progressives Congress (APC), who he said have

been making utterances and comments that are promoting violence and bloodletting as a means of achieving political control. “Nigerians are also aware of utterances by certain APC governors that were aimed at undermining our security forces and emboldening insurgents against the people. “Those who have been promoting violence through their utterances can now see the monster they have created. They can now see the end product of their comments; a country flowing daily with the blood of the innocent. “The question is: how do they feel when they

see the mangled and blood-soaked bodies of the victims? How do they feel when they hear the voices of the dying and the injured? “Of course they feel nothing. Their hearts have been hardened and they are embittered by the fact that they have been rejected by the people. They are bitter because the people have chosen to rally round the government they love and voted for. “But, must they choose the path of violence and bloodletting as a response to the wishes and aspirations of the people,” the statement queried.

he All Progressives Congress (APC) has condemned the atrocious bomb blast and urged the Federal Government to urgently convene a national stakeholders' security summit to help find a lasting solution to the spate of mindless killings in the country. In a statement issued in Lagos yesterday by its Interim National Publicity Secretary, Alhaji Lai Mohammed, the party expressed shock and sadness at the savagery of the attack, while condoling with the families of those killed and praying for quick recovery for the injured. It said it is now obvi-

ous that all efforts so far to tackle the insurgency in the country have not yielded much fruits, meaning that the PDPled Federal Government lacks the capacity and has clearly run out of ideas on how to tackle the violence. “It is time for new thinking, new ideas to stop this insurgency before it consumes all of us. The attack, right on the outskirts of Abuja which has been spared this kind of spectacular strike since 2011 means those behind it are getting bolder and bolder,

and it's time to stop them,'' it said. Meanwhile, the party has described as despicable the PDP's attempt to trivialise a very serious issue and make the opposition the fall guy for its own egregious failure. ''The PDP and the government it leads at the centre should realise that this issue is beyond politics and partisanship, and should reach out to other stakeholders to help find a way to end the insurgency that has now defied all measures, including a state of emergency," he said.


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Court throws out Umeh's stay of execution appeal Tunde Oyesina

dent National Electoral Commission (INEC), to recognise Chief Maxi Okwu as the chairman of the party. The court, headed by Justice Abdulkadir AbdulKafarati, then ordered the National Secretary of the party, Alhaji Sani Shinkafi and other members of the National Working Committee (NWC), elected alongside Umeh at a convention held on February 18, 2011, in Awka, Anambra State, to vacate their respective offices.

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Federal High Court sitting in Abuja yesterday struck out the application brought by the former National Chairman of the All Progressives Grand Alliance, (APGA), Chief Victor Umeh, seeking to stay the judgement that sacked him from office. The same court had, on January 15 this year, sacked Umeh from office and directed the Indepen-

Aside Okwu, the court also directed the electoral umpire to, henceforth, relate with Mr. Ibrahim Carefor, Chief Dickson Ogu, Dr. Gbenga Afeni and Alhaji Abubakar Adamu as the duly elected national officers of APGA. They all emerged from a separate convention of the party held in Awka on April 8, 2013. Not satisfied with the judgement, Umeh had, through his counsel, approached the Court of Appeal to challenge the

decision and at the same time filed a motion for stay of the execution of judgement at the High Court. Ruling on the application, Justice Kafarati refused the prayer seeking to stay the earlier judgement of the court which sacked him from office. Maxi Okwu had instituted Suit No. FHC/ABJ/ CS/563/2013 on August 19 2013, against Victor Umeh, Sani Shinkafi and INEC seeking a court order directing Umeh and Shinkafi to vacate office

as national chairman and national secretary of the party having been first elected into office on January 10, 2003 and re-elected for a second tenure which expired on January 9, 2010. Specifically, Justice Kafarati ruled that “Umeh and Shinkafi (1st and 2nd defendants), having been expelled from the party whether lawfully or unlawfully, regularly or irregularly, cannot validly continue to occupy the positions

of National Chairman and National Secretary, respectively when the suit they filed challenging their said expulsion has not been decided and in their favour.” He maintained that “the 2nd Defendant, having first been elected National Secretary of the party on January 10, 2003, which is over 10 years ago, cannot validly continue in office 10 years after he was first elected.

Dickson promises revolution in Bayelsa Joe Ezuma

Port Harcourt

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President, Institute of Chartered Accountants of Nigeria (ICAN), Alhaji Kabir Alikali Mohammed (left), presenting a souvenir to the Kwara State Governor, Dr. Abdulfatah Ahmed, during a courtesy call to the governor in Ilorin…yesterday

N8.52bn

The IGR realized from PAYE (taxes) of Ogun State in 2011. Source: National Bureau of Statistics

PENSION

Ekiti witnesses yet another protest over unpaid post-service renumerations Adesina Wahab Ado-Ekiti

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etired workers of the College of Education, Ikere-Ekiti yesterday protested the non-payment of their pension arrears, which they said has caused the death of over 40 of their colleagues. Weildingvariousplacards, theprotesters,undertheaegis of Collegeof Education,IkereEkitiPensioners,whomassed at the College’s gate, alleged that over 80 of their members were now incapacitated with terminal diseases due

7m

The total number of internet users of Belgium in 2007. Source: Blatantworld.com

30.2%

The percentage of households with a computer worldwide in 2007. Source: Itu.int

Retirees protest non-payment of arrears, death of colleagues to utter neglect and denial of theirduesbythegovernment. Some of the placards read: “We appeal to government to havemercyonusandpayour gratuity”, "We are suffering; please,bailusoutof thishardship”, “Save our lives from starvation,” among others. Addressing journalists on the issue, the Chairman of the Association, Mr Elijah Familusi, said they were being owed over 15years of pension arrears. He said, “Some of us were pushed out of the system in 1993 and up till now, we are still being owed gratuities and pension arrears. Some have

died. In fact, we have buried some on a single day. The situation is as bad as that. “Weareslowlybutsteadily beingpushedoutof existence. Wecannolongerpayourchildren’s school fees or live well having served in the College and retired.” Also speaking, the pioneer Director of Works in the College, Mr Stephen Ogundoro, accused the college’s management of insensitivity, saying they were rebuffed when the retirees enlisted their support for quick payment of their entitlements. Ogundoro said the College was making enough internally gen-

erated revenue through which the management could pay them, rather than depending on government. However, the Deputy Provost of the College, Mr Rotimi Omonijo, who described their demands as legitimate, said his boss, Prof Francisca Aladejana, had compiled the financial implications of their requests and submitted same to Governor Kayode Fayemi for necessary action. Omonijo gave assurance that the entitlement would be paid before the end of the month, saying the government had promised to pay as soon as possible, urging the protesters to exercise patience.

overnor Seriake Dickson of Bayelsa State, yesterday in Yenagoa said that his resolve to transform the state into a modern state remained unshaken. Dickson explained that Bayelsa being the only homogenous state of the Ijaw in Nigeria, its development and that of its people would continue to remain paramount in the calculation of the administration, saying; ‘’We will not surrender her to vultures and buccaneers’’ Dickson, who made the declaration attheswearing-in of eight members of his cabinet at the Executive Council Chambers of Government House, Yenagoa, then tasked the newly sworn-in commissioners to work as a team to

protect the overall interest of the state. ‘’Never again will the state beonoffertothehighestbidder andwillnotbesurrenderedto those who do not mean well for the state. The restoration and revolution of the state is oncourseandwewillcontinue toworktomobilisesupportfor PresidentGoodluckJonathan and the development of the state’’, he charged. “You are all going to work as a team, because your functions overlap. I urge you to stand firm; this state will not be surrendered to riff-raffs anymore. What we have done will be permanent. The restoration and revolution that we have started in this state, we will take it to the end and never again will this state be on offer to the highest bidder,’’ he further charged the commissioners.

Tight security as Jonathan visits Kano Muhammad Kabir Kano

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rmed security personnel havetakenovertheancient city of Kano, as President Goodluck Jonathan visits the state today. He is to formally receive former Governor Ibrahim Shekarau and his supporters to the ruling Peoples Democratic Party, (PDP). The Assistant Inspector General of Police, Zone one, Muhammad Tambari Yabo, said the police has put the necessary security strategy in place to ensure a hitch-free

visit. AIG Tambari Yabo further explained that he had called attention of all the political parties’ leadership and warned them against violence or doing anything that would lead to violence. Speaking to New Telegraph, the chairman, organising committee of the visit, Alhaji Abdulmuminin Yau Musa, explained that they have provided all the needed logistics, including five buses to each of the 456 wards of the state to convey their supporters to Kano in an orderly manner.


8

NEWS

Sanctity of Truth

Tuesday, April 15, 2014

FG moves to rid Nigeria of rotten fish DELAY

Fish glut leads to fish going bad in warehouses nationwide Siaka Momoh

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he Federal Government, at the weekend began the destruction of rotten fish in warehouses nationwide with the destruction of 60.6 metric tons of fish in the warehouse of Bharat Ventures on Apapa-Oshodi motorway, Lagos. A large number of the spoilt stock are herring products from Russia. The Acting Director of Fisheries, Folake Areola, said the Federal Department of Fisheries did 100 per cent inspection and found out some of the stock in the erring company’s warehouse was bad and the company agreed that the bad stock be destroyed. The two-trailer-load of fish was then moved from the company’s warehouse in Lagos to Lagos Waste Management Agency (LAWMA) dump site in Epe

where it was buried with the media in attendance. Addressing the press at the company’s warehouse before the unwholesome consignment was moved to Epe, Areola said, “Government is determined to ensure that Nigerians eat quality fish at all times. It is the responsibility of gov-

ernment that every product must have quality packaging. But here, it is not the case. You have torn packaging. And polyethylene wrappings which should be part of the packaging is not there. We want to ensure strict packaging along the supply chain.” On the way forward, the

director general said, “Nigeria is blessed with water bodies. We have the river Niger and the River Benue, and we have culturable species. All we are doing is to unlock our potentials. The ministry is diversifying into tilapia. We want to use other brackish species.” She said the ministry was

going on massive education of Nigerians and inspection of warehouses across the country; and that it had the structure to do this. She advised consumers not to buy fish with sunken eyes and ones whose bodies depress when pressed or those that have colouration. Asked to explain why his

Bamidele hosts British diplomat, canvasses peaceful poll Adesina Wahab ADO-EKITI

T L-R: Hon. Edozie Madu; former Governor of Abia State, Dr. Orji Kalu; Kano State Governor, Alhaji Rabiu Kwamkwaso and Special Assistant to Dr. Orji Kalu, Prince Kunle Oyewumi, during Kalu’s visit to Kano State Governor’s lodge, Abuja ….at the weekend

32.5%

The female percentage of internet users of Montenegro in 2011. Source: Itu.int

N907.9m The IGR realized from other revenue sources of developing countries in 2012. Source: National Bureau of Statistics

1,584m

The number of individuals using the internet in developing countries in 2012. Source: Itu.int

Aliyu okays Yusuf Nuhu as new Emir of Agae RULERSHIP Former Deputy Registrar emerges Emir in Niger State Dan Atori MINNA

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overnor Mu’azu Babangida Aliyu of Niger State has approved the appointment of Alhaji Yusuf Nuhu as the 13th Emir of Agaie, following the death of the former emir, Alhaji Muhammadu Kudu Abubakar III, on March 30, 2014.

Alhaji Nuhu’s appointment was conveyed in a statement signed by the Secretary to the State Government, Alhaji Saidu Ndako Idris Kpaki. Kpaki said Nuhu’s appointment followed majority decision of the kingmakers of the emirate on April 5, 2014.

Amaechi, in church, advocates new Nigeria Joe Ezuma

PORT HARCOURT

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s 492 select Nigerians brainstorm in Abuja to chart a future for the county, Governor Chibuike Amaechi and Chairman of Nigeria Governors’ Forum (NGF) has advocated a positive change that will usher in a new Nigeria just as he called for prayers against election rigging in 2015. Amaechi, who spoke

company stocked unwholesome fish, the general manager of Bharat Ventures, Kelvin Nigli, said: “We could not sell because the market was saturated with fish. We found out that the fish was near expiring and put them on hold and wrote to NAFDAC but NAFDAC did not respond.”

during a church programme at the Glorious Covenant Ministry, Iwofe, in the state capital, Port Harcourt, at the weekend, echoed a prophecy for a new Nigeria by an elder of the church, Elder Gomba H. Osarollor. Calling for a new direction for Nigeria, Amaechi insisted that things would need to be done differently across Nigeria to get new results of growth and development. “He (Elder Gomba H. Osarollor) prophesied a

new Nigeria. What else do I need to say? We are saying that we need a new Nigeria. All of you who are computer literate, when you garbage in, you garbage out, the only way you can get a new result is to change what you are garbaging in. So, he has prophesied (a new Nigeria) and unto man the word of God must remain real,” Amaechi said. He appealed to the church to speak against election rigging and corruption among public office holders.

Nuhu was among the 13 contestants from the Suleimanu Ruling House who indicated interest in the vacant position. He polled three votes to beat two other contestants, Alhaji Nuhu Attahiru Nkochi and Alhaji Mohammed Tsadu Kawu who polled two votes each. Born on August 4, 1948 in Agaie town, the new emir had his primary education at Agaie Primary school (19541959), Senior Primary School, Agaie (19601961), and Post Primary School Ndayako, Bida (1962-1964). He attended the famous Bida Teachers’ College Bida (1967-1971) for Grade II teacher’s certificate, before proceeding to Ahmadu Bello University, Zaria, between (1974-1977) for his Bachelor’s degree in Education/History.

He returned to the university in 1982 for his postgraduate diploma in Public Administration. He began his public service in 1972 as a class teacher in East Primary School, Agaie; Gover nment Secondary School, Kontagora (1978-1979); College of Education, Sokoto as lecturer between 1979 and 1980. He later transferred his service to the Federal Polytechnic, Bida as Admin Officer from where he rose to be Deputy Registrar. Nuhu was appointed the Commissioner for Information, Social development, Youth, Sports and Culture between 1986 and 89 and also held the position of Director General in charge of Works and Housing Ministry between 1 9 8 9 a n d 1 9 9 3 .

he governorship candidate in the June 21 election in Ekiti State on the platform of the Labour Party (LP), Opeyemi Bamidele, has reiterated the need to eschew violence in the build-up to the poll. Speaking at the weekend when he played host to the Head, Political Section, British High Commission in Nigeria, Mr Paul Edwards, in IyinEkiti in Irepodun/ Ifelodun Local Government Area, Bamidele noted that some political parties that promised to engage in issue-based campaigns had already reneged. Bamidele, who thanked the international community for taking interest in the Ekiti poll, said it was disheartening that violence was already becoming part of electioneering. “We, in the Labour Party, are running a decent campaign. We hope the poll will be credible. We don’t want the Anambra State saga to be repeated here. “ INEC should use Ekiti poll to redress the situation. The poll is about the future of our state … it will not become a failed state,” he said. He gave assurance that his party would play the game according to the rules. In his remarks, Edwards charged Ekiti politicians to refrain from desperation and violence.


9

Tuesday, April 15, 2014

DANGOTE FLOUR MILLS PLC. Akintola Williams Deloitte 235 Ikorodu Road, Ilupeju P.O. Box 965, Marina Lagos, Nigeria Tel: +234 (1) 271 7800 Fax: +234 (1) 271 7801 www.deloitte.com/ng

CONSOLIDATED AND SEPARATE STATEMENTS OF PROFIT AND LOSS FOR THE YEAR ENDED 31 DECEMBER 2013 GROUP

Revenue Cost of sales Gross profit Distribution and administrative expenses Other income

COMPANY

9 months September 2013 N'000 29,960,419 (29,317,791)

12 months December 2012 N'000 41,472,599 (39,310,274)

9 months September 2013 N'000 23,079,590 (22,728,987)

12 months December 2012 N'000 29,859,976 (28,740,533)

642,628 (6,672,284) 233,975

2,162,325 (4,810,501) 486,573

350,603 (3,707,191) 42,708

1,119,443 (2,360,838) 414,931

Profit/(loss) from operating activities before abnormal items Abnormal items Profit/(loss) from operating activities after abnormal items

(5,795,681) (201,584)

(2,161,603) (1,409,450)

(3,313,880) -

(826,464) (1,409,450)

(5,997,265)

(3,571,053)

(3,313,880)

(2,235,914)

Interest received Finance costs

19,927 (2,364,956)

53,250 (2,085,169)

12,665 (2,346,275)

30,974 (2,059,643)

Profit/(loss) before tax from continuing operations

(8,342,294)

(5,602,972)

(5,647,490)

(4,264,583)

Taxation Profit/(loss) for the year from continuing operations

1,577,990

1,258,659

1,166,842

1,126,464

(6,764,304)

(4,344,313)

(4,480,648)

(3,138,119)

Profit/(loss) for the year from discontinuing operations (Loss)/ profit for the period

(452,697) (7,217,001)

2,080,977 (2,263,336)

(4,480,648)

(3,138,119)

(7,932,996) 715,995 (7,217,001)

(2,840,713) 577,377 (2,263,336)

(4,480,648) (4,480,648)

(3,138,119) (3,138,119)

Attributable to: Owners of the parent Non-controlling interests

CONSOLIDATED AND SEPARATE STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2013 GROUP 9 months September 2013 N'000 (Loss)/ profit for the period

(7,217,001)

Other comprehensive income: Actuarial Gains-Assumption Actuarial Gains-Experience

(2,263,336)

-

Total comprehensive (Loss)/ profit for the period Attributable to: Owners of the parent Non- controlling interests Earnings per share Basic and diluted loss per share (kobo per share)

COMPANY 12 months 9 months December September 2012 2013 N'000 N'000

12 months December 2012 N'000

(4,480,648)

(3,138,119)

-

2,382 68,608

-

(7,217,001)

(2,192,346)

(4,480,648)

(3,138,119)

(7,932,996) 715,995 (7,217,001)

(2,769,723) 577,377 (2,192,346)

(4,480,648) (4,480,648)

(3,138,119) (3,138,119)

(158.66)

(55.39)

(89.61)

(62.76)

CONSOLIDATED AND SEPARATE STATEMENTS OF FINANCIAL POSITION AS AT 31 DECEMBER 2013 GROUP September 2013 N'000

December 2012 N'000

30,002,456

44,048,647

17,351,051

18,747,467

2,896,528 32,898,984

1,621,122 3,894 45,673,663

2,597,637 1,829,016 21,777,704

7,553,637 1,001,483 27,302,587

9,372,457 7,789,466 6,183,288 1,423,664 24,768,875

12,946,862 11,927,694 5,083,533 1,817,266 31,775,355

7,686,391 3,961,715 17,219,636 3,288,629 910,024 33,066,395

7,317,448 3,732,123 16,953,231 3,025,036 861,417 31,889,255

Assets classified as held for sale TOTAL ASSETS Equity and liabilities Ordinary share capital Share premium Retained earnings Equity attributable to owners of the company

17,813,681 75,481,540

77,449,018

4,956,000 59,800,099

59,191,842

2,500,000 18,116,249 (4,305,067)

2,500,000 18,116,249 3,627,929

2,500,000 18,116,249 (2,382,424)

2,500,000 18,116,249 2,098,224

16,311,182

24,244,178

18,233,825

22,714,473

Non-controlling interests Issued Capital and Reserves

1,795,343 18,106,525

1,079,348 25,323,526

18,233,825

22,714,473

Deferred tax liability Retirement benefit obligation Long-term borrowings Non-current liabilities

2,453,251 9,646,302 12,099,553

2,855,079 1,254,329 10,692,375 14,801,783

2,393,244 9,646,302 12,039,546

2,825,800 851,584 10,524,375 14,201,759

Trade and other payables Taxation Short-term borrowings Shareholders for dividend Amounts owed to subsidiaries Bank overdrafts

11,992,772 238,448 21,040,451 2,399,913

10,433,756 401,155 24,346,967 216,669 1,925,162

7,677,861 149,204 17,757,915 1,547,289 2,394,459

5,173,728 212,284 15,178,614 216,669 1,331,717 162,598

Current liabilities Liabilities classified as held for sale Total equity and liabilities

35,671,584 9,603,878 75,481,540

37,323,709 77,449,018

29,526,728

22,275,610

59,800,099

59,191,842

Assets Non-current assets Property, plant and equipment Investment-Interest in subsidiary companies Deferred taxation asset Long-term receivables Total non-current assets Current assets Inventories Trade and other receivables Amounts owed by subsidiaries Short term loans receivables Cash and bank balances Total current assets

COMPANY September December 2013 2012 N'000 N'000

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DANGOTE FLOUR MILLS PLC Report on the Financial Statements We have audited the accompanying consolidated and separate financial statements of Dangote Flour Mills Plc and its subsidiaries which comprise the consolidated and separate statements of financial position as at 30 September 2013, the consolidated income statement, statement of changes in equity and cash flow statement for the nine-month period ended 30 September2013 and a summary of significant accounting policies and other explanatory information set out on pages 20 to 66. Directors' Responsibility for the Financial Statements The Directors are responsible for the preparation and fair presentation of these consolidated financial statements in accordance with the Companies and Allied Matters Act CAP C20 LFN 2004, the Financial Reporting Council of Nigeria Act No. 6, 2011, International Financial Reporting Standards and for such internal controls as the Directors determine necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal controls relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated and separate financial statements present fairly, in all material respects, the financial position of Dangote Flour Mills Plc and its subsidiaries as at 30 September 2013 and the financial performance and cash flows for the nine-month period ended 30 September 2013 in accordance with the Companies and Allied Matters Act CAP C20 LFN 2004, the Financial Reporting Council of Nigeria Act No. 6, 2011 and International Financial Reporting Standards. Emphasis of Matters We draw attention to Note 1.3 which describes that in 2013, the Company changed its reporting period end from December 31 to September 30 to align its reporting period with that of its majority shareholder. Accordingly, in 2013, the Company has reported its performance for the 9 months period ended September 30, 2013 whereas prior year comparatives are based on 12 months reported figures to December 31, 2012. The balance sheet and related notes were reported as at September 30, 2013, whereas prior year comparatives were reported as at December 31, 2012. We also draw attention to Note 1.4 which describes the effects of the decision of the shareholders to sell the Company's holding in Agrosacks Limited, and the classification of the Company's assets and liabilities as held for sale, and the effect of the re-classification of the profit and loss account of Agrosacks to a single line as discontinued activities, with the corresponding re-classifications in the prior year.

Chartered Accountants Lagos, Nigeria 19 November 2013 FRC/2013/ICAN/00000001364 Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Akintola Williams Deloitte, a member firm of Deloitte Touche Tohmatsu Limited, is a professional services organization that provides audit, tax, consulting, financial advisory and enterprise risk services.

Alhaji Aliko Dangote, GCON Chairman FRC/2013/IODN/00000001766

Mr. Nthabisheng Segoale Group Chief Executive Officer FRC/2013/IODN/00000002455

Mr. Moruf Adealu Chief Finance Officer FRC/2013/MULTI/00000005382


10 NEWS

Sanctity of Truth

Tuesday, April 15, 2014

Nyako, APC blast Shekarau over elections in North-East Ibrahim Abdul Yola

T

he All Progressives Congress (APC) and some state governors yesterday carpeted former Kano State governor, Ibrahim Shekarau, over his comment on the state of emergence in the three states of Adamawa, Borno and Yobe. Mallam Shekarau had said that it was more important to secure the three states and, indeed, the North-East than conducting elections there in 2015. This got governors of the affected states, as well as the APC, angry as Shekarau has been accused of acting out the script of his paymasters by politicising the Boko Haram issue and the general insecurity in

the region. First to react was the Adamawa State governor, Murtala Nyako, who spoke through his Director of Press, Mallam Ahmad Sajo, Nyako said; “It is clear that former Governor Shekarau has lost his mental balance since he left the APC and joined the PDP. “Ibrahim Shekarau is a disgrace to the north as a whole. As a matter of fact, with this statement coming from him on crucial matters like this, he has lost what remains of the little integrity in his person as a northerner,” he said. The governor pointed out that Shekarau’s comments that the Independent National Electoral Commission (INEC) can-

not conduct elections in volatile states is capable of denying most states of the north from holding the said elections as well. “We should learn from Afghanistan and other parts of the world. “If he is insisting that elections would not hold in Borno, Adamawa and Yobe States because they are volatile states; then he should note that it means elections would not hold in his state, Kano, because it is also one of the volatile states. “In fact if Shekarau’s statement is to be taken seriously, it means there won’t be elections in Kaduna, Katsina, Plateau, Benue, Sokoto, and Nasarawa States, because all of them are volatile as it is now."


NEWS

Sanctity of Truth

Tuesday, April 15, 2014

11

NATIONAL CONFERENCE

National Conference condemns terrorist attack Louis Achi, Onwuka Nzeshi and Lateef Ibrahim ABUJA

T

he National Conference yesterday condemned the bomb blast at the Nyanya Mass Transit Park and urged the Federal Government not only to step up security but to deploy new strategies to stem the tide of terrorist attacks in the country. A minute of silence was observed in honour of the victims of the bomb blast which has reportedly claimed over 70 lives. There was outrage at

the commencement of proceedings as delegates expressed concern about the deteriorating security situation in the country and resolved that "urgent, drastic and concrete " actions must be taken to arrest the ugly situation. The resolution came on the heels of a motion of urgent public importance initially raised by Comrade Dan Nwanyanwu, National Chairman of the Labour Party who drew the attention of the delegates to the bomb blast and lamented that there seemed to have been a conspiracy against Nigeria and the Nigerian people by some

enemies within the country. Nwanyanwu urged the conference to immediately react to the incident by urging the relevance security agencies involved in the fight against terrorism to double their efforts and halt further killing of innocent citizens. The motion, seconded by Chief Mike Ozekhome, was however overtaken by a written motion sponsored by Is’haq Modibbo Kawu, one of the delegates representing the Nigeria Guild of Editors at the conference. The motion was supported by 19 other delegates, including Profes-

sor Jerry Gana; Ibrahim Coomassie; Alhaji Bashir Dalhatu; Dr. Magdalyne Dura; Senator Ibrahim Mantu; Hon Mohammed U. Kumalia and Senator Adamu Aliero. In a contribution to the debate, elder statesman, , Chief Edwin Clark said the incident called for public condemnation by all-well meaning Nigerians. Clark said that those who have been criticizing the military operation launched against the insurgents may have to have a second thought given the level if damage the insurgents have brought on the country.

Loose federation best for Nigeria - Braithwaite Lateef Ibrahim and Onwuka Nzeshi Abuja

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residential candidate of the defunct Nigeria Advance Party (NAP), and delegate to the ongoing National Conference in Abuja, Dr. Tunji Braithwaite, has expressed firm conviction that only a confederal constitution or a very loose federation is best for Nigeria. Dr. Braithwaite equally harped on the need for the conference to, as much as possible, be a constitutional one. The former presidential candidate, who is one of the delegates representing the Elder statesmen, declared that there were a number of brave, honest nationalistic persons in this conference that, hopefully, would be able to reconstruct Nigeria in a way that the blessings, peace and prosperity rightly deserved by

the peoples of this country would be guaranteed by a new confederal constitution. “This Conference must therefore be as much a development Conference as a Constitutional one. It is our firm conviction that only a Confederal Constitution or a very loose federation is best suited for Nigeria. I say this because I know that no part of Nigeria is desert. “The existing six geopolitical zones have uniquely different developmental problems for which a single “one-size-fits-all” solution can never work, in the reality of Nigeria’s diversity. “The present 1999 Constitution, a.k.a, decree 24, is enforcing a country that is destroying its own people, and should be rejected outright”, he said in a statement made available to the media yesterday at the venue of the conference.

Northern Delegates’ Forum condemns blast N

Governor of Anambra State, Chief Willie Obiano (left), immunizing a baby at the General Hospital Umueri, Anambra East Local Government Area, to mark the National Immunization Day ...yesterday

CONTINUED FR O M PAGE 1

“We thought that by today we should be able to give everybody the committee in which they would serve but we have to apologise to you that we are still working on the committee list. It is not ready as at now. But we promise that by tomorrow (today) afternoon session, we shall be able to tell you the committee to which you belong. So, what we are going to do is to adjourn now until four o’ clock tomorrow,” Kutigi said. But before the adjournment there were heated debates on the list of

orthern Delegates’ Forum yesterday condemned the bomb explosions which took place yesterday in Abuja. The forum prayed God to give those who lost loved ones and property as well as those injured in the blast the fortitude to endure the pains that have come with the destruction. It said: “Given the fact that the challenges now

Confab: Committee list splits delegates committees as some delegates renewed an earlier agitation to have fewer committees that would focus on a few cardinal issues rather than having 20 committees dealing with everything under the sun. Elder statesman, Chief Ayo Adebanjo and former President of the Nigeria Bar Association (NBA), Chief Olisa Agbakoba were at the forefront of those who wanted the conference to prune down the number of committees to allow the conference focus on the key issues of political restructuring and de-

volution of powers. In separate presentations, both delegates charged Kutigi to reflect on the terms of reference of the conference and avoid leading delegates in the wrong direction. In the opinion of Adebanjo, the conference was meant to address the issues of political restructuring, fiscal federalism and regionalism. He said that the multiplicity of committees and the listing of issues such as agriculture, transportation and water resources was diversionary, insisting that

the country was expecting a new constitution from the national conference. On his own part, Agbakoba, a Senior Advocate of Nigeria (SAN), argued that the conference had some specific terms of reference which appears to have been jettisoned by the conference secretariat. He said that while every issue including environment, transportation and energy was important, the agenda of the conference was clearly spelt out in President Goodluck Jonathan’s inaugural ad-

dress to the conference. He disclosed that the Vision 2020 Report had covered a wide range of issues of governance and the national conference was not expected to repeat what other committees had done but to break new grounds on the issue of the political structure of Nigeria. He disclosed that the conference ought to focus on the future of Nigeria in terms of what kind of political system the country should be running to make it move forward. Agbakoba argued that

transcend ethnic and religious boundaries, one begins to question the wisdom of continuous association of such violence with ethnicity, religion or with region. “Our intelligence community and security agencies need to brace up their intelligence and operations in order to put an end to the killing of innocent Nigerians.

about four committees would be enough to drive the work of the conference instead of 20 being proposed. In spite of these presentations, Justice Kutigi ruled that the majority were in support of the 20 committees and there was no going back. However, he neither paced the issue for further consideration nor did he put the matter to vote before this ruling. Meanwhile, there were also agitations for the inclusion of certain issues which some delegates thought were missing from the menu.


metr Twins, others arrested NEW TELEGRAPH

www.newtelegraphonline.com/metro

ABIODUN BELLO

FEATURES Editor

abiodun. bello@newtelegraphonline.com

thursday, April 15, 2014

0802 393 8212

for robbery, rape ROBBER GUARDS

Security guards employed to protect a company rob the firm 15 times Juliana Francis

T

he Special Anti-Robbery Squad (SARS), Ikeja, Lagos State, has arrested nine suspects, including twins, for robbing a pharmaceutical company 15 times. The gang, operating in military camouflage and merchant navy uniforms, attacked Reckitt-Benckiser Pharmaceutical 15 times and also raped a female victim in Agbara area of Ogun State. Sick and tired of the incessant attacks, the firm alerted SARS, which embarked on investigation. The suspects are identified as Deji Akinwunmi, Okiefa Godspower, Shola Komolafe, Ezekiel Dikeocha, Tunde Oyedele, Osagedele Happy, Taiye and Kehinde Balogun (twin brothers), and Samuel Kingsley. According to the police, the gang was always attacking Reckitt-Benckiser Pharmaceutical, which has a warehouse, where chemicals, soap nodules, used in manufacturing its products are

kept in 25kg bags. Some of the suspects are allegedly security guards from Asco Security Company, attached to the pharmaceutical company, while others are casual workers. While investigators said that the gang had struck the company 15 times before its arrest, the suspects said they could not remember how many times. “It can’t be more than eight or 10 times. We started by taking some bags out, then we brought in buses, and then graduated to using trailers. It was the last operation, which we used four trailers that led to our arrest,” one of the suspects said. A police source said: “The last operation was in May 2013, after the gang went to the company with arms, wearing military and naval uniforms. They went on Sunday, at about 8am. They disarmed the guards on duty, stormed the home of a man residing in a boy’s quarters attached to the warehouse. “They tied the mouth of the five victims in the house with cello tape, blindfolded them and tied their hands and legs with rope. They also raped one of the female victims. “After they had taken care of the victims, they accessed the warehouse and started loading the four trailers with the

Sanctity

Tuesday, Ap

Two in Camillus Nnaji

T

wo men, Ibrahim Lawal (27) and Gideon Nwabajala (27), were yesterday arraigned before an Ikeja Magistrates’ Court presided over by Mrs E. Akinde for stealing two tricycles, popularly called ‘Keke Marwa’.

The suspects

bags of chemicals. “They loaded 236 bags of soap nodules valued at N17 million, but the gang sold the bags at a giveaway price of N4.7 million. “Since that fateful incident, the police had been hunting for the gang.” This year, there was a break through with the arrest of Godpowers. He was arrested at Check Point area, on

Agbara - Badagry Road. He was later used as bait to catch other members. Each of the gang members in SARS custody has confessed to partaking in the operation. Some of them said they used the money to rent and furnish apartments. Godspower said he used his share of the loot to buy a car, establish a viewing centre and date women.

EFCC nabs undergraduates for cyber fraud Juliana Francis

S

even undergraduates, supposed to be reading and preparing for their future in different tertiary institutions, have been arrested by the Economic and Financial Crimes Commission (EFCC), for internet scam. The undergraduates were picked in two houses at Lekki County Homes and Lekki Phase One, both in Eti-Osa Local Government Area of Lagos State, following intelligence report on their alleged involvement in internet fraud. Various items were recovered from the suspects such as laptops, expensive phones, Ipads and exotic cars, including a Range Rover Evogue; Honda Crosstour, Mercedes Benz C 300 4matic, S 300 Mercedes Benz and Acura ZDX SUV.

The EFCC Public Relations Officer, Wilson Uwujaren, said the raid on the two houses on April 6, led to the arrest of seven suspects, all undergraduates studying various courses in some of the nation’s tertiary institutions. He said: “The undergraduates, who are within the age-range of 21 and 29 years, include Elete Fred Debi, a 500-level student of Physics/Production Technology of the University of Port Harcourt, Rivers State. “Others are: Ese Iriruaga, 300-level student of Geology, Delta State University, Abraka, Delta State; Couson Jimmy, 300-level student of Computer Science, Benson Idahosa, University, Benin, Edo State; Anthony Onos, 200-level student of Political Science, Lagos State University, Ojo, Lagos State; Omene Stephen, 200-level stu-

The suspects

dent of Computer Science, University of Port Harcourt, Rivers State; Kome Emmanuel, 200-level student of Petroleum Engineering, University of Port Harcourt and Shola Muyiwa of the Petroleum Training Institute, Effurun, Delta State.”

Muyiwa allegedly confessed that he recently collected $100 from one of his victims, Dora Hunt, based in North Carolina, United States of America. Uwujaren said the suspects would soon be charged as investigation had been concluded.


2015: Lagos APC swimming under threat of groups, caucuses / PAGE 16

POLITICS

NEW TELEGRAPH

newtelegraphonline.com/politics

ayodele Ojo

Deputy Editor, politics

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

TUESday, April 15, 2014

The politics in Imo State is being heated by the recent spat between Governor Rochas Okorocha and the Deputy Speaker of the House of Representatives, Emeka Ihedioha over the 2015 governorship election. STEVE UZOECHI examines the development

S’East PDP close ranks for Jonathan’s reelection bid

p-14, 15

Okorocha-Ihedioha spat: Setting the stage for showdown

F

or the greater part of Rochas Okorocha’s 34-month in office as governor, Hon. Emeka Ihedioha, the Deputy Speaker of the House of Representatives, had seemingly maintained a studied silence on the state of affairs in Imo State and the administrative style of Okorocha, at least in public. But recent developments which saw the Deputy Speaker delivering some precision knocks on the governor’s administration of the state, literally took the government by storm. Like a day, they prayed would never come, Okorocha and his handlers had to take quite some time to analyse the slant and severity of the ‘assault’ from the Deputy Speaker, who is also a governorship hopeful on the platform of the Peoples Democratic Party (PDP). Reaching back to the last time Okorocha threw a jab at Ihedioha, one easily remembers the era of the All Progressives Congress (APC) brief stint as the majority party in the lower chamber of the National Assembly. Okorocha had at a public function derided Ihedioha, urging him to safeguard his job which at the time, seemed at risk due to the shift in majority vote from PDP to APC. The governor had mocked Ihedioha that he had only one option to save his job, which according to him, was joining APC. Ihedioha had evidently ig-

nored the remark but then used the opportunity of every public forum to stress that he was still a PDP member. Until March, when Ihedioha began his governorship consultation visit to local governments in Imo State, very few

people suspected that the Deputy Speaker had a mouthful to unleash; with his blistering dissection of the three years of the Okorocha administration. The indicting reports and commentaries emanating from the Ihedioha consultative vis-

its promptly roused the Imo State Government to attention. Okorocha just had to sit up and take notice. Ihedioha’s contentions hit a crescendo during his visit to Okwelle in Onuimo council area of the state. Apparently miffed by perceived decay in the state, Ihedioha had said, “Instead of a people-oriented development, Okorocha has

CROSSFIRE The President has managed to raise the Nigerian economy to be the Number One in Africa, and in the world. We have moved from Number 37 to Number 26... which means that by 2020 we are likely to be among the first 20 largest economies -Labaran Maku

The Federal Government has only succeeded in opening itself to ridicule. This is because if ever there was a clear play at oxymoron, this is it:... the largest economy with the worst infrastructure -Lai Mohammed

sold everything including Imo Transport Company, Concorde Hotel, Ada Palm, general hospitals including mortuaries. The primary purpose of government is to improve the lives of the people and ensure security of lives and properties, but this administration has rather impoverished the state and its people.” Not done yet, Ihedioha promised to dislodge and sack Okorocha from the Government House come 2015. The governor’s media team responded to this but while the dust of his assertions were yet to settle, Ihedioha fired another salvo during his consultative visit to Okigwe council area, insisting that Okorocha must go in 2015. The Deputy Speaker also made it clear that he was ready to do the kickingout as well. He actually told Okigwe people that the process of sacking Okorocha from office by the PDP was fully on course and would not be altered. Promising to do everything to make Imo the best state in Nigeria, Ihedioha reminded his audience that he is the only person that can show Okorocha the way out and recover the Government House for the people. Buttressing this claim, the governorship hopeful had explained that he has no encumbrances that will hinder him from putting the state back on track. His words: “I will not use my position to enrich myself. I am not owing any bank anywhere in the country. I will put in place only projects of high standards. I will give responsive service geared towards restoring democratic and relevant institutions in our state. Youths will receive very meaningful attention for sustainable empowerment. I will not sell our industries but will reactivate ailing ones while building CONTINUED ON PAGE 18


14 POLITICS

Sanctity of Truth

Tuesday, April 15, 2014

S’East PDP close ranks for Last Friday, President Goodluck Jonathan, along with bigwigs in the Peoples Democratic Party (PDP), stormed Enugu to hold a Unity Rally ahead of the 2015 elections. LEO SOBECHI reports how endorsements for Jonathan’s re-election brought the South-East together

I

f there is anything the South-East zonal rally in Enugu last Friday achieved, it was mainly to demonstrate the unquestioning enthusiastic support of the zone for President Goodluck Jonathan and his aspiration to occupy the presidency for another four year term. And in the hurry to line behind the president, leaders of the Peoples Democratic Party (PDP) from the zone glossed over the hate politics that has trailed the party right from 1999 to date. Despite the fact that in the three states controlled by PDP in South-East no internal democracy was at play in producing the party leaderships, Mr. President found the mammoth crowd that attended the rally tagged ‘Unity Rally’ as encouragement to denigrate the opposition. Glossing over the fact that the party faithful in Enugu and Abia states have refused to rally support with their past PDP leaders, the South-East zone showed that the only basis of their unity is support for Jonathan. Other than that, hate and recriminations loom large in the party politics. At the Enugu rally, of all the heavyweights that spoke, only the PDP National Chairman, Alhaji Adamu Mu’azu, hinted at the outcome of a genuine reconciliation, suggesting that he knows that all was not truly well with PDP in the South East. If Mu’azu could reconcile with incumbent Governor Isa Yuguda, with whom he had a running political battle, the National Chairman may have noted the predilection of South East politicians to deny their brothers in their naked aspiration to be the Man Fridays of the powers that be. When similar treatment was extended to Dr. Chinwoke Mbadinuju in 2003, many Nigerians expected that South East would have risen to his defence the same way politicians from North West did when Sokoto Governor Magatakarda Wamako was suspended from PDP. No, it seems hate politics is at home in the zone. But responding to calls to declare for the 2015 election presidential election during the Unity Rally at Nnamdi Azikiwe Stadium, President Jonathan said: “You have asked me a question whose answer will come later. Like our party chairman has said, PDP is the number one party in Nigeria.” Energized by the massive sea of heads, the President went on to traduce the opposition. He noted that those who derive pleasure in passing themselves off as progressives do not tell where they are pro-

L-R: President Jonathan flanked by Anenih, Orji, Mu’azu, Ekweremadu, Chime and Mark at the rally.

gressing to; stressing that PDP remains the number one party without any rival. As he noted that the support for PDP in the South-East was total, President Jonathan declared that it was only the PDP that can take Nigeria to the level of other democratic nations. Encouraged by the crowd, the President continued: “Nigeria is a great country. And for us to push forward, we need a great party made up of great minds, democratic tenets and open heart to lead the people. And it is only in PDP that you have those elements. Only the PDP can take this country to the moon and create jobs for our young people. I wonder where those who say that they are progressives are progressing to.” He noted that PDP doesn’t believe in dictatorship, stressing that it remains the only party that people outside Nigeria can recognise as a truly democratic party. “And we shall continue to sustain the progress we have made,” he added even as he commended the people of SouthEast for their support and solidarity. He commended PDP leaders and faithful at various levels in the zone for their “resilience, dedication and hard work,” assuring that he would never disappoint the zone for their continued support. Looking forward to the 2015 general elections, President Jonathan pointed out that PDP has been magnanimous enough in allowing two out of the five states in the zone to slide into the hands of opposition. “(But) This time around it would be total; I must commend the governors of the South-East because there is no problem in the party in the zone. South East is a PDP zone; if you see the number of PDP senators in the zone you will see that any other person in government is PDP. We have been magnanimous enough,

We are not like one party in this country where one man or a group of people determine how the party is run. The national chairman of the PDP or any of its governors can’t cancel a ward congress of the party just like that and with impunity this time around it would be total,” the President added. He regretted the security challenges confronting the nation but noted with joy that the case of South-East was minimal, attributing the variation to the “support and total commitment of the South-East to this administration.” President Jonathan reiterated that the PDP is the only political platform in Nigeria where the voice of the people could count and decisions are taken based on the majority and popular vote. At the Unity Rally, were serving and former members of the National Assembly, incumbent and former state governors, incumbent and former ministers from the zone as well as former and incumbent PDP executives at all levels. PDP stalwarts from outside the South East that attended the colourful and mammoth rally included Governors Idris Wada (Kogi), Ramalan Yero(Kaduna), Emmanuel Uduaghan(Delta), Ibrahim Dakingari(Kebbi), Liyel Imoke(Cross River) as well as the deputy governor of Niger State and former Kano Governor, Ibrahim Shakarau. Earlier in his welcome address, PDP National Vice Chairman (South East), Col.

Austin Akobundu (rtd) told the gathering that the journey to 2015 has started and expressed the determination of PDP to ensure that the zone was wholly in its kitty. Akobundu’s speech set the tone for the floodgate of endorsements and calls on Jonathan to openly declare his interest to contest the 2015 presidential ticket. The state governors; took the lead. Enugu State Governor, Sullivan Chime said: “We are not here to say whether Jonathan has performed or not. The essence of this gathering is simple: It is to ask two things of the President; that he accepts to run for another term and that he does not say no to the first.” Chime pointed out that the decision to confront the President with those requests was neither an afterthought nor was it conceived there and then. “Several meetings had been held within the party in the South-East and it is our collective decision to make two requests from the president and that is, one, that Jonathan should run for a second term in office and two, that he should not disappoint the people of the South-East by rejecting the call to run,” he reiterated. The next speaker after the host governor was Governor Martin Elechi of Ebonyi State. He started by commending Jonathan for his equanimity and the matured manner he has handled security issues in the country since he came to power, stressing that the president has been withstanding all forms of unwarranted (verbal) attacks perpetrated against his administration. Consequently, Elechi contended that “it has become imperative for the President to continue to do the good works he started and complete them.” Chairman of South East Governors Forum (SEGF) and Governor of Abia State, Chief Theodore Orji, noted that the growing calls on President Jonathan to


POLITICS

Sanctity of Truth

Tuesday, April 15, 2014

15

Jonathan’s re-election bid

in 2015. You can transfer the power to the North thereafter. If you refuse Jonathan a second chance, another civil war is coming and we do not want another war.” The high point of the Unity Rally was the formal reception of the member representing Owerri Federal Constituency in the House of Representatives, Hon. Ezenwa Onyewuchi, who defected from the All Progressives Congress (APC) to PDP.

President Jonathan (2nd left) with other PDP big wigs acknowledging cheers from supporters at the event.

run were because he gave the South-East a sense of belonging through appointments and provision of infrastructure. Orji added: “Under the PDP, the zone got an IGP, (Inspector General of Police); a Chief of Army Staff, (COAS) 40 years after the Civil War, the national chairman of the PDP. Your administration gave us the Secretary to the Government of the Federation. Among all the ministers that you appointed, you singled out our own to make a coordinating minister. These things show you love us and the PDP does not discriminate. You are a promise-keeping president, and we are asking you not to say no. If you say no, this zone will conscript you to run for 2015. You must have to contest. You have shown us that you can use power for the good of the people and the entire nation. We in the SouthEast have resolved to stand solidly behind you and the PDP because it is only in the PDP that the South East can find shelter.” As it turned out, every speaker adopted his/her own style to say the same thing, which was that President Jonathan declares his intention to contest the 2015 election. Former member of the PDP Board of Trustees (BoT), Chief Emmanuel Iwuanyanwu stated that “South-East will feel embarrassed if you don’t declare.” “The tenure of a president is eight years, so you are entitled to another term in office,” Iwuanyanwu added, remarking that the zone would support Jonathan’s candidacy. The leader of the South East delegation to the National Conference, Gen. Ike Nwachukwu, who capped up his delivery with a sweet song chorused by the gathering, stated: “We are totally committed to you and for you to continue with the good work you are doing. More Nigerians believe in you than those who don’t.” PDP women leader, Ambassador Kema Chikwe told President Jonathan that Nigerian women were rooting for him noting that he (Jonathan) has done more for Nigerian women even in areas of appointment and empowerment than any other

Nigerian leader. The Senate President, David Mark, in his remarks noted that the crowd at the stadium was enough evidence “to show that PDP is South-East.” He added: “We have never had such a crowd in all the rallies in the zones. The South-East has remained a rallying point for the PDP.” Declaring that the rally was not for campaigns, Mark promised to address the gathering in Igbo language when the party comes back to the zone for electioneering. PDP BoT Chairman, Chief Tony Anenih, expressed the party’s gratitude for the support of the South-East in previous elections especially in 2011, adding that then no state in the zone performed below 98 per cent. “We will come again to ask for more. We cannot encourage the president to answer the request for him to run in 2015 because he can’t answer until INEC lifts the ban on political campaigns. It is after that we will come back with a response,” Anenih interposed. However, the Vice President, Namadi Sambo, regaled his audience with instances of the ingenuity and creativity of Igbo in industry, commerce and trade, pointing out that the “rally has re-confirmed the South East as bedrock of the PDP.” “I thank the President for creating the enabling environment that has enhanced the development and growth of the zone,” Sambo added. Chairman of the PDP Governors Forum, Governor Godswill Akpabio of Akwa Ibom State said he has been speaking with a cross section of politicians and people from the South-East, adding that they “want me to tell you that they are concerned about who would complete the second Niger Bridge and the Akanu Ibiam International Airport.” Akpabio declared: “They want another Azikiwe in the person of President Goodluck Ebele Azikiwe Jonathan, to commission the second Niger Bridge you are building for them. ” Adopting campaign rhetoric, Deputy President of Senate, Ike Ekweremadu, in

his speech told the assemblage that “we have 101 reasons to want the president to run,” stressing that even in governance, the PDP administration has given more to the South East than any other zone. But perhaps in a clever bid to explore an opportunity to extract confidential answer from Mr. President, Deputy Speaker of the House of Representatives, Emeka Ihedioha, disclosed that the South East Caucus in the House led by Ogbuefi Ozomgbachi, plans to meet with the President to further discuss the request. There is no doubt that the caucus would try to use such opening to seek an understanding for a possible endorsement for the legislators especially given Chime’s determination to ensure term limit for National Assembly members. Ozomgbachi has been representing Udi/Ezeagu federal constituency for the past twelve years. Oil Magnate and business mogul, Prince Arthur Eze, who spoke on behalf of Anambra State PDP faithful, caused a stir when he indicated that the presidency would shift to the North after Jonathan completes his second term in 2019. He said that Jonathan’s presidency represents the interest of the poor, the widows and the down trodden. The PDP financier narrated: “You are from the South-south; you must continue

You are from the Southsouth; you must continue in 2015. You can transfer the power to the North thereafter. If you refuse Jonathan a second chance, another civil war is coming and we do not want another war

Side distractions There were some side distractions at the rally which gave slight indication of the unholy state of affairs of PDP in South-East. While supporters of Governor Orji and those of his predecessor, Dr. Orji Uzor Kalu engaged in fisticuffs outside the gate to the Nnamdi Azikiwe Stadium, security agents from the police and National Security and Civil Defense Corps (NSCDC) took up the refrain near the podium. The security officials were grumbling over the air of superiority displayed by the policemen. But more remarkably shameful was when some irate PDP youths pounced on the SouthEast Publicity Secretary of the party, Mr. Ali Odefa. New Telegraph investigations revealed that Odefa was accosted by the enraged youths over his seeming partiality in the introduction of dignitaries from Enugu State. Sources within the PDP confided in New Telegraph that he was only interested in repeatedly announcing the names of South East governors that patronised him. The source hinted that after the publicity scribe’s overtures to the Enugu State Governor did not yield any fiscal benefit he decided to blacklist the governor. But another confidential source, a party faithful from Nsukka said: “The last straw that broke the camel’s back was when it became obvious to us that he was playing into the supremacy battle between the Deputy Senate President, Ekweremadu and Governor Chime.” “We noted that he would only announce the name of our governor when there is background noise. He continued the trick until we felt enough was enough and decided to confront him openly with this allegation of open bias,” the source remarked. Odefa, who was serving as a master of ceremony during the rally, was attacked by some youths believed to be political thugs numbering about eight, who approached him at the podium and tried to roughen him up. The young men who wore T-shirts with ‘Sullivan 4 Senate’ boldly printed on it found their way to the red carpet and after climbing the podium started pelting the publicity scribe with several blows at close range such that his traditional Igbo jumper got thorn. However, the combined intervention of some security personnel separated the fight as the youth walked away sulking even as people wondered at the cause of the shameful conduct. Attempts by New Telegraph to get Odefa’s side of the story failed as he did not respond to the reporter’s enquiry or call back as at the time of filing this report.


16 POLITICS Over the years, two major caucuses have literarily directed the affairs of who gets what, when and how in Lagos politics. In this report, WALE ELEGBEDE contends that the dominance and influence of the Justice Forum and the Mandate Group within the state chapter of the All Progressives Congress (APC) may be under threat as the build-up to the 2015 elections gathers momentum.

Sanctity of Truth

Tuesday, April 15, 2014

2015: Lagos APC swimming under threat of groups, caucuses

T

he procession that led to the metamorphosis of the Alliance for Democracy (AD) to Action Congress (AC), later to Action Congress of Nigeria (ACN), up until the presently constituted All Progressives Congress, may have altered the party’s signature, logo and appellation, but the status of the arrowheads that determine the process of decision making in Lagos State politics remained unchanged with former Governor Bola Tinubu sitting at the summit of the team. The Justice Forum, Mandate Group grip Given the avalanche of interest and the array of personalities that characterised the politics of Lagos, the overt and covert floating of group and caucuses with the intent of using those platforms to negotiate, harmonise and ignite interests in political parties is not new in the state. In fact, major parties in the state are built around groupings and caucuses for ‘effective’ output. For instance, the machinery of the Peoples Democratic Party (PDP) in Lagos State is built around the Establishment and Union groups. In the APC, influential members of the party belong to either Justice Forum or Mandate Group. Over the years, the groups have succeeded in managing retinue of interests, harmonising factions and keeping crisis at arm’s length among the progressives, especially in the last four general elections in the state. From inception, the Justice Forum was the only recognised group among the progressives between 1999 and 2003. The emergence of other caucuses, groups and factions could be traced to the aftermath of it following the intrigues and horse-trading that played out during the crisis that engulfed the then leadership of the Yoruba socio-cultural group, Afenifere. The Justice Forum which has Alhaji Olatunji Hamzat as its founder, has grown in leaps and bounds, largely populated by indigenes and political veterans, it also has a record of producing politicians of repute in the last decade. The senior Hamzat, a strong grassroots mobiliser, had in 1992 during the Social Democratic Party (SDP) days, stepped down for Tinubu in the race for the Senate. Towards the end of Tinubu’s first term in 2003, certain elements within the Justice Forum in collaboration with some Afenifere chieftains, mooted the idea of denying the governor a second

Tinubu

term ticket owing to their perception that Tinubu is becoming too powerful to control in the state and the South-West. With muscle flexing over who controls the machinery of the group, some core political allies of Tinubu decided to stretch their net elsewhere, turning the Bola Ahmed Tinubu Campaign Organisation (BATCO) principally coordinated by Rauf Aregbesola to the Mandate Group. The influence and strength of the Mandate group grew after this and became the dominant group, so much that songs were coined from its name to reiterate the loyalty of the members to Tinubu. With the exit of Aregbesola to Osun State as governor, the Mandate group is being managed by the likes of Cardinal James Odumbaku, Muiz Banire, Alhaji Badmus among others. Aside serving as the power sharing organ of the party, the Mandate group was tacitly used to check the grip and influence of the Justice Forum, especially during the crisis that trailed the second term ticket of Fashola in 2011. During the heated entanglement, the Justice Forum floated the Face of Lagos group for the purpose of sustaining Fashola’s bid for second term ticket and dousing the allegations raised against the governor by the New Face of Lagos. Majority of those involved or sympathetic with the Face of Lagos were either removed from office or sidelined in party affairs. These sets include, Sarah Sosan, Enoch Ajiboso, Babatunde Ogala, Faud Oki among others. Fashola’s hammer on groups, caucuses Given the hurdles he had to scale before getting a second term ticket, Governor Babatunde Fashola’s experience through the furore must have impressed it upon him in the early period of his second term to disband all groups, caucuses and factions within the party. The governor said groupings and caucuses in

Fashola

Enough of the old hands and old ideas. We want new blood, new ideas and new ways of doing things. We will continue to tap into the wisdom of our elders and work with them when necessary the party are inimical to the unity and growth of the party. Interestingly, less than eight months to the 2015 elections, the caucuses have started regrouping and already scheeming to take the lead in deciding affairs within the APC. Emergence of New Justice Forum, Crusader, New Lagos Movement Few weeks to the commencement of the congress of the APC in Lagos State, the competitive race to garner delegates for the eventual power and elective posts sharing format was in full gear. Addressing newsmen at the International Press Centre in Ogba, Lagos, the duo of Taiwo Ayedun and Olatunji Folami, said youths in the Justice Forum are pulling out of the group to form New Justice Forum, saying the new group is an amalgam of various interests within the APC. “The philosophy underpinning the coming into being of the New Justice Forum, NJF, therefore is the determination to bring back robust competition and fair play, level playing field and justice and reposition it on the path of equity and justice for all members. “New Justice Forum, NJF, is committed to the ideals of a credible, free and fair elections, hence our avowed commitment to a new political order. We, in the New Justice Forum are an offshoot of the old Justice Forum with a new orientation. “We desire true change. We are thirsty for good governance. They must be from our generation and we will work to put

Ajomale

them forward for positions. Enough of the old hands and old ideas. We want new blood, new ideas and new ways of doing things. We will continue to tap into the wisdom of our elders and work with them when necessary,” the group said. Speaking with New Telegraph, Folami said the group is not revolting against the Hamzat’s led-leadership of Justice Forum, just as he debunked insinuations that the group is working for any politician in the state. Also, the emergence of the Crusader Group which is said to be a handiwork of the interim chairman of the APC in Lagos, Chief Henry Ajomale and a ranking member in Fashola’s cabinet, raised measures of eyebrows among party members especially those just joining the legacy party consummation. Though some party sources said the crusader group is meant to protect the interest of Ajomale during the congress, especially at the ward and local government levels to ensure his return as the substantive chairman of the party in the state, others averred that the group was created to work for the emergence of a ranking member in Fashola’s cabinet as governor in 2015. “The manner through which some surreptitious meetings are going in our party is a source of concern to many of us. Though it is not a new development but given the new identity of the party as APC, we must be worried as party leaders,” the source said. Recently, a group of intellectuals within the APC also formed the New Lagos Movement with the aim of becoming an integral part of decision making in the party. At its launch held at Lagos Travel Inn, Ikeja, some chieftain of the party, university lecturers, professionals, activists among others were part of the group. As tension gets reignited in the Centre of Excellence with various actors looking for where their interest would be better served, the scenario in the party would likely became clear after the state congress before the groundswell activity of the 2015 elections commence fully.


POLITICS 17

Sanctity of Truth

Tuesday, April 15, 2014

Ogun needs a purpose-driven govt –Isiaka You contested the 2011 governorship and lost. Why have you decided to throw your hat into the ring again for the 2015 elections? Basically, the fact of the matter is that I contested then because I made up my mind to serve the people at that level. I am of the strong view that life is not just about coming to satisfy yourself or take care of your immediate environment and family and you go. In one form or the other, we all must contribute and serve the people. So, I made up my mind to serve at the level of governance in 2011 and, of course, as you said, the result was the way it went. But the reason to serve is still there and, therefore, I still look for the opportunity to serve. I decided to do it at the same level because I feel there is probably more need for it now than then. What has happened in the last few years of the administration that we have now further calls for an involvement of people of goodwill who can rescue the state. In addition to my desire to serve, I also want to get the state out of the situation that it is and doing things better. I have also opted to serve because I believe at the level of the governor of the state, I will be able to impact on the lives of the people a lot more and able to lay a kind of foundation that we believe we need to cultivate to make the society a lot better for our people. I think it is now that all hands must be on deck to actually salvage the state from the situation that it is today.

Prince Gboyega Nasir Isiaka contested the 2011 governorship election in Ogun State on the platform of the Peoples Party of Nigeria (PPN) but lost to the incumbent, Governor Ibikunle Amosun. Having defected to the Labour Party recently, the former Managing Director of Gateway Holdings Ltd in this interview with KUNLE OLAYENI speaks on his 2015 governorship ambition

You talked about salvaging the state from its present situation; what is that situation? Is the economy or polity bad? I must say upfront that this is not going to be a wholesome appraisal of the present administration. But the fact of the matter is that - and that is the bedrock of everything - the present administration does not have a clear path and vision for this state. I see things being done from personal aggrandisement and a high level of witch-hunting. And just to fulfil all righteousness, I don’t see clear plans and I think that given the present situation of things all over the place, we need a more purposeful leadership; a leader who knows precisely what exactly is in the offing; how do we get there and how do we look at it. It is not about you just want to expand a road just because you feel if they are doing it in state A, why can’t I also do it here? It’s not about you just want to build bridges because you feel that if you go to state B and see bridge there, then why can’t we also have bridge here. It is not about that, most of these things should be purpose-driven. There must be need for it and we must be able to say exactly where we are going. By the time you take one step or the other, we must know that it is all towards this purpose but we don’t see that and I feel that the state should not continue along that line for eight years. The cost of it to the state, we may not even feel it right now, but we may feel it later on in life. I think people coming behind us do not deserve to be treated as such. Therefore, if we all see that and we didn’t get into correcting it and just fold our hands and

The platform on which you want to contest, Labour Party, appears to be divided. Don’t you think this division might probably jeopardise your chances? Well, there are issues but I must say that the division is not as terrible as you have put it. Secondly, you can see that every party is going through one metamorphosis or the other now. But I think the most important thing that is constant is the goal and the goal in this case is to become the governor of Ogun State in 2015. Every other thing is variable. The constant thing is that we want to run for governorship in 2015 and we shall win, every other factor becomes variable. There are issues going on around and we are all involved with the issues going on around. But be rest assured that the best decision shall be taken at the right time.

Isiaka

watch, then it means that we all should be charged for accessory after the fact.

You talked about being purposeful. In specific terms, which area do you want to be purposeful if elected? The first one is that the theme of our campaign as we go on for this election is “life more abundant” which the Yoruba people would say “Irorun.” I still feel that the best investment that one can make in life, especially on the youths, is not necessarily by way of the best street and bridges all over the place, especially when these bridges are not even required to control anything there. Basically, it is to just make sure that we invest in the right things and ensure that our people live a more purposeful life. I’ve also said that there is nothing you can do without making sure that money gets into the hands of a lot more people and therefore, even

in all that we are going to do in terms of projects and activities, the issue of youth unemployment must take a pride of place. Therefore, one cornerstone of our activities would be how do we deliberately go ahead to expand the economy of the state. More than two-third of businesses is small and medium scale and what we have seen in the last few years is the demolition of most of the shops for roads and bridges that are not really required at this time or even if they are required, they can be done in phases so that you can also get to do other things. But because we have choked ourselves so much, other things are being left undone - health, education, etc. I think that we have to find a way in expanding the economy to ensuring that a lot more people, especially the small and medium scale businesses, are provided the opportunity to thrive. This idea of 80 percent of the capital vote going into building roads and bridges that are being done by Chinese and people who don’t even utilise the money within the system cannot work; it’s not sustainable. It’s like a double jeopardy to the economy of the state. We have to enhance infrastructure but it must be planned. It’s not something that you just dabble into and just begin to do it for the fun of it. So, what we are

The most important thing that is constant is the goal and the goal in this case is to become the governor of Ogun State in 2015. Every other thing is variable

looking at is that given where we are and what is available to us and our resources, we need to really define how we want to grow and now dovetail all our policies and approaches towards that objective. That is what we don’t have. What we have now is just haphazard. So, for us, it is promoting the theme “life more abundant” and the meaning of that is to ensure that in all that we do, we take the totality of the entire state, have a plan, find a way to expand the economy, find a way to expand the social services, run a very open and transparent government, promote good governance and of course, ensure that the public service is also given greater role to play in the running of the state. Recently the governor sent a request to the House of Assembly seeking approval for a N19 billion loan. What implication do you think this could have for the state’s economy? I have always said that there is nothing wrong with borrowing to expand once it is done the right way and there is also the sustainability ratio that you also have to look at in ensuring that whatever the quantum of resources you are trying to raise will also fall within what you can repay, especially if you are trying to use the money in the right area; expanding the economy, ensuring that people get to do a lot more thing because it is from that people would be able to pay tax. It is also assumed that if people are healthy, for instance, they won’t need to be visiting hospitals so much; again you are also increasing the wealth. For me, what I just see here is for what purpose is the facility being taken. We are still not very sure of what exactly is the total exposure of the state. I was reading somewhere when the Commissioner for Finance said the state owed N35 billion. I know before then, we’ve had some other figures that run into hundreds of billions. I know at some point the truth shall come out. I’m also aware that some people are asking for information under the Freedom of Information Act. I’m also aware that aside from bank borrowing, there is also a huge amount of contractor-financing going on around where ISPOs are being issued against future earnings of the state; earnings that we are not doing much to expand by way of killing the businesses that we have. I also know that at some point when the last facility was taken to the state House of Assembly, there was this establishment of Debt Management Office and the DG was cleared to run that office. But we are also aware that that office is not running. We need to ask questions. To me, given my background and training, I’m not going to treat the figure in isolation. It’s to be looked at within the totality of the circumstances and what it is to be used for and what the total figure that we are exposed to. I’m sure we are not being told the truth yet of the total exposure of the state both in terms of bank facilities and exposure to contractors for projects. The state needs to give us information because the figures we are hearing run into several billions of Naira beyond the N35 billion that we are being told.


18 POLITICS

Sanctity of Truth

Tuesday, April 15, 2014

Okorocha-Ihedioha spat: Setting the stage for showdown CO N T I N U E D F R O M PA G E 1 3

new industries to employ and empower our people.” With every word tearing at the governor’s fabric, this indeed drew fire from government circle as several aides responded by impulse meaning to lacerate Ihedioha governorship ambition, as much as they can. The governor, apparently to fend off the attack and perhaps educate Ihedioha, replied through his Senior Special Assistant on Media, Sam Onwuemeodo, saying in a press statement that Ihedioha did not say anything strange or new. “He is also not alone on this claim. Other aspirants in all the political parties have continued to make the same claim on how they will defeat Governor Okorocha in 2015. And for the more than 15 gubernatorial aspirants in the state to be talking about how they would defeat one man in the state shows how powerful Governor Okorocha has become. He has become the man to beat. And the truth of the matter is that Ihedioha or any other aspirant in Imo cannot beat Okorocha in 2015.” The statement argued that the bulk of the aspirants jostling for Okorocha’s seat, including Ihedioha were also together in 2011 with the then Governor Ikedi Ohakim and he (Okorocha) overran all of them to emerge governor. “If they could not match Okorocha in 2011 when they had all the paraphernalia of office to deploy into the governorship, is it in 2015 when Okorocha must have steered beyond their reach in competence and popularity that they would win?” the statement queried. The government drew the attention of Ihedioha to the fact that he is still an aspirant and not yet a candidate and therefore is not in a position to defeat Okorocha or anybody else at the governorship election until he gets his party’s mandate. Okorocha advised Ihedioha to first defeat the myriad of governorship aspirants in his party and secure his party’s ticket first, before attempting to size up with the incumbent. Government also did not lose sight of Ihedioha’s punch line. Hence, reacting to claims that the governor had sold some state assets. Onwuemeodo said: “Again, Okorocha has neither sold ITC nor Adapalm. For 12 years of the PDP administration in the state, Adapalm and ITC could not work, which resulted in the workers being owed arrears of salaries for years and with the companies not making a dime for the state government. But today, the government has taken steps to make the two companies work and for the first time in several years, Adapalm could earn billions of Naira for the state government and the workers get paid regularly.” In a biting reaction also, the state Commissioner for Information and

Okorocha

Strategy, Chief Theodore Ekechi described the assertions of the Deputy Speaker as strange and a contradiction of existing reality. His words: “This is utter falsehood and if indeed he made these allegations, then it is a reflection of an impoverished head because only an impoverished head would be blind to the transformation taking place in Imo. He must be blind and perhaps lame not to have seen or walked the massive road networks in the state. We were at Aboh Mbaise, his hometown days ago; standing right there in his community, is a gigantic ultramodern general hospital. So, how could government have sold hospitals when we have 27 brand new general hospitals nearing completion?” On the alleged impoverishment of the state, Ekechi further queried: “For a man who has been in the House of Representatives for 12 years and have been unable to liberate the people of Ngor Okpala and Aboh Mbaise he represents from poverty with all his resources, how can he liberate Imo State if accidentally voted into office?” The Okorocha administration urged Ihedioha and indeed all other aspirants to tell Imo people why they want to govern them, as It is no longer fashionable to make Okorocha their individual manifestoes. However, looking at the scenario critically, the allegations of the Deputy Speaker may not all be hot air, as most of the state assets handed over to concessionaires at a fee by the Okorocha administration are all struggling to survive. Some that hitherto thrived are now either crawling or dying. Imo Concorde Hotel, the five-star Pearl of the East as it was popularly referred to, has totally and verifiably collapsed, rotting away in the hands of its new managers. Lacking the most basic things expected of a hospitality facility of its size, Imo Concorde Hotel in recent times has been unable to sustainably power its facility with a gener-

Ihedioha

it is a reflection of an impoverished head because only an impoverished head would be blind to the transformation taking place in Imo. He must be blind and perhaps lame not to have seen or walked the massive road networks in the state ating set, forcing customers to endure endless light-outs. Evidently, there have been a drastic drop in patronage as the hotel always seems deserted, a sharp departure from the usual boisterous Imo Concorde environment. Same goes for the Imo Transport Company (ITC) which was hitherto famed as the most viable state-owned company. ITC in recent times is unable to pay staff salaries and have had its workers severally taken to the streets to protest of maladministration of the company. Be that as it may, the fight between Ihedioha and Okorocha may not be fought on square grounds, but it may be perilous to take for granted the clout and political dexterity Ihedioha brings to the duel. Much as the incumbent governor can boast of a sizeable war chest, and can easily appropriate enormous fund to pursue his re-election bid, Ihedioha on his part, would not need aid to execute any political project he desires. Until his 2011 governorship triumph, Okorocha’s political past has been chequered with election flops, but Ihedioha on his part, had fought and won three consecutive elections to the House of Representatives. Needless to mention the battles for the party tickets on the three occasions. The foregoing affirms Ihedioha’s political experience in the field (elections) which is where all the politicking

crystallizes. However, to oust Okorocha from office, Ihedioha would first need to surmount the internal opposition of more than a dozen fellow PDP governorship aspirants, most of whom are battle ready with formidable political structures. While Okorocha enjoys the father status in the Imo APC family; with the power to give and deny party tickets to aspirants, same cannot be said for Ihedioha who would have to fight every inch of the way to secure his party’s ticket. As the highest political office holder of the party in the state, Okorocha is the sole leader of the APC in Imo. Again, same cannot be said for Ihedioha in spite of his being the highest political office holder in the PDP in Imo State. However, within the PDP in Imo, it is an undeniable fact that Ihedioha is easily one of the strongest contenders for his party’s governorship ticket. This does not make him a sole contender for the ticket nor does it diminish the fact that there is a prevalence of formidable governorship aspirants in the PDP pack but then, Ihedioha remains a probable front runner. While Okorocha is assured of the APC governorship ticket, Ihedioha’s followers will easily tell whoever cares to listen that nothing can stand between their principal and the PDP governorship ticket. Possibly, it is this confidence on the part of the Deputy Speaker that informs his recent spat with Okorocha and perhaps a deeper political strategy that may unfold in the long run. Considering that Okorocha is no longer the super brand he used to be in 2011, while his supporters view Ihedioha’s media onslaught as mere rabble rousing, the undecided and the crowd of anti-Okorocha’s supporters may view Ihedioha’s exchanges with Okorocha as a rallying call for all those that cannot wait to see the governor go in 2015 to take a stand with the Deputy Speaker. Again, Ihedioha’s attack on Okorocha may go deeper than merely attaining media visibility and relevance, to a wellarticulated political strategy to position himself as the captain of all those that hold the sentiment that Okorocha has outlived his usefulness. This could tilt enormous support to his favour if intelligently sustained and could further advance his chances of bagging his party’s governorship ticket. While Ihedioha and others struggle for their party tickets, Okorocha who already, has virtually bagged the APC governorship ticket would channel his energy and resources to strategising for the governorship election proper. And the possibilities of an implosion in the Imo PDP, which may be occasioned by the party’s governorship primaries, would further give him some political mileage for the governorship election. All the same, whatever happens, 2015 cannot in any way be similar to 2011 for Governor Okorocha. Much as it will take a fight to oust Okorocha from office, it will take even a lot more, to keep him.


EDITORIAL

Sanctity of Truth

Tuesday, April 15, 2014

Our VISION To build a newspaper organisation anchored on the sanctity of truth.

Our MISSION To publish a newspaper of superior value, upholding the fundamental ethics of journalism: balanced reporting, fairness, accuracy and objectivity.

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Sanctity of Truth w w w.new telegraphonli ne.com

19 Three things cannot be long hidden: the sun, the moon and the truth – Buddha

TUESday, APRIL 15, 2014

Boat mishaps threaten water

he threat to water transportation in the country has been highlighted by the spate of boat accidents, especially in Lagos State. The latest disaster occurred on April 2, 2014, in Majidun River in Ikorodu, and no fewer than eight people reportedly lost their lives, while about 12 others were rescued by local divers. In mid-March, a canoe capsized on a canal at 4th Avenue, 42 Road, FESTAC Town, Lagos state, resulting in the death of about 18 passengers. In January, another boat capsized at Ogogoro village in Navy Town, Boulos in the Apapa area of Lagos state, killing about three people, while seven others were rescued people. Elsewhere, on December 26, 2013, a boat carrying about 50 passengers on the Buruku River in Buruku Local Government of Benue state capsized, killing some of its passengers. Also, a boat overloaded with passengers and goods travelling on the Niger River overturned, killing 42 people with hundred missing. The boat with an estimated 150 people on board broke into two after setting off from Malilli village in Niger State, according to the State Emergency Management Agency. In March, 2013, nearly 100 people died when a passenger boat that set off from neighbouring Benin Republic capsized off Nigeria’s Southern Cross River state. The same story was told in Bayelsa

state late last year. Across Nigeria especially states that are surrounded by water, it is a sad tale of agony and trauma for those who depend on water transportation. Death through boat and ferry accidents on our waterways have become routine, and the end appears not in sight as governments lack political will to live up to the expectations of citizens. The reasons for incessant boat mishaps are not far-fetched. Most of the accidents appear to have common factors; faulty equipment, accommodation of passengers beyond capacity, lack of enough rescuers and first aid and life jackets on board. Tragically, help usually comes many hours after each accident. To think that in some of the accidents some people are lucky to be rescued is indeed like a silver lining, but even more could have been saved as the distance as in the case of the FESTAC Town accident, was not far from the take-off point, according to reports. The truth remains that most of these deaths could have been avoided if some fundamental norms of safety had been complied with as official enquiries have repeatedly pointed to the lapses. Another challenge is that even after the accidents the number of people on board is always based on assumptions, meaning people are travelling without a care about their safety and identity. The situation is compounded

by the lackadaisical attitude of government officials whose duty it should be to ensure safety of the waterways and monitor the operations of boat owners, while the operators are less concerned about safety and are operating at their whims and caprices. Then there is limited awareness about safety amongst passengers who cannot even recognize poorly organized boat services. It is, therefore, safe to say that frequent occurrences are as a result of non-enforcement of the laws that guide water transportation in the country. Governments need to take strong measures to prevent accidents and when they happen, to find ways of mitigating the causes. The official indifference to criminal exploits of operators despite extant legislation is quite amazing. It re-enforces the thinking that in Nigeria anything goes, with all manner of stakeholders passing the buck. Boats are steadily and increasingly multiplied and operated with impunity that questions the validity of existing law banning such operations. The importance of water transport cannot be overstated. It is the best alternative for people who live in the riverine areas and villages where other means of transportation are inaccessible, especially by people in the lowest cadre of the society. There should be efficient water system in the country to cater for the needs of the majority of the people who cannot afford

other means of transportation especially in areas where there are no roads. The frequent occurrence of tragedies on our waterways is a sad commentary and a vote of no confidence on the authorities concerned. Recent developments need to be closely monitored and carefully handled to ensure that Nigerians do not die needlessly. Water ways can be developed and integrated into a system that can be instrumental in the country’s economic development. This remains the cheapest means of transportation for the locals especially the traders and farmers amongst them as goods produced on inland farms are transported via inland waterways to the coastal ports. Government must pay attention to the development of waterways. All the murky and dirty areas that seem to pose danger to water travelers must be dredged to ensure safer sails. It is true that the swampy areas usually make escape impossible when an accident occurs. Construction of bridges to link communities must be done without delay. To curb incessant boat and ferry accidents, the attitude should be to find out what happened, punish those responsible and announce some measures to tighten control and prevent future mishaps. This is the only way operators can stay in line, while ensuring water transportation is relatively safe. GABRIEL AKINADEWO Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director/DEIC FELIX OGUEJIOFOR ABUGU Managing Editor, South SULEIMAN BISALLA Managing Editor, North AYODELE OJO Acting Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board GEOFFREY EKENNA News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.


20

Sanctity of Truth

OPINION Is Nigeria Africa’s biggest economy? Ayodeji Ajayi

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here is no doubt that over 90 percent of Nigeria’s 160 million citizens, due to many years of dashed hopes, insincerity and broken promises by successive administrations over the years, strongly believe that the recent report placing Nigeria as Africa’s biggest economy is baseless, fallacious and lacks credibility. On March 6, 2014, the Minister of Finance and Co-ordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, in conjunction with the Statistician-General, Dr. Yemi Kale, had disclosed to the battered and hapless citizenry that with an estimated N80.22 trillion in Gross Domestic Product (GDP) for 2013, Nigeria’s economy had exceeded South Africa’s as the biggest in Africa. Until recently, South Africa was widely recognized as Africa’s biggest economy. This was informed by the effective management of the country’s fast growing economy and proper utilization of its resources. It is scandalous that almost 54 years after independence, Nigeria, with a population of 160 million has repeatedly failed to achieve ordinary 5,000 megawatts of electricity supply not to talk of 10,000 megawatts whereas South Africa, with a population of 43 million, is generating enough to meet its needs and is seriously striving to improve on it. It is also noteworthy that with a steadily growing economy, Ghana, unlike Nigeria, has an enviable record of sustainable electricity supply due to sound economic planning, effective management of resources and good governance. According to Okonjo-Iweala, in 2012, the World Bank placed Nigeria’s GDP figures at $262.6 billion compared with South Africa’s $384.3 billion. Until recently, Nigeria, with a GDP of $258,555.58 was rated 37th in the world but now as Africa’s biggest economy, Nigeria’s economy ranks

26th in the world. However it is paradoxical that Nigeria has been rated Africa’s biggest economy at a most difficult period in the history of the country when virtually all critical sectors of the economy are comatose. What were the yardsticks used to arrive at this suspicious and highly controversial rating? How far has Nigeria’s economy grown and developed, especially since the return to democratic dispensation 15 years ago to deserve this rating?. What is the essence of being Africa’s biggest economy when per capita income is not only ridiculously low but majority of the citizenry are living in abject penury in spite of the country’s enormous oil wealth?. Put succinctly, rating of Nigeria as Africa’s biggest economy when placed against the fact that a considerable number of the citizenry have been pauperized by the few in authority are differences that need to be reconciled. There is a remarkable difference between growth and development. Even if Nigeria’s economy has grown, it is yet to lead to appreciable overall development. Lack of realistic figures and statistics for effective planning has over the years, been the bane of Nigeria’s development. This is why a century after it came into existence and almost 54 years after independence, dearth of reliable statistics has made credible census impossible. The GDP of N80.22 trillion for 2013 is suspicious, especially judging by the fact that government officials are in the habit of using fictitious statistics for planning purposes. This is why the citizenry no longer believe whatever those in government say. Wrong statistics and unrealistic figures are responsible for poor implementation of annual budgets. Since the return to civil rule, the level of budget implementation by the various tiers of government has been

Tuesday, April 15, 2014

appalling. When budget proposals are based on unrealistic figures, the level of implementation is likely to be poor as nobody can build something on nothing. From all indications, many Nigerians are not impressed that Nigeria has been rated Africa’s biggest economy. What impact will this rating have on the living standards of the citizenry?. If Nigeria is to justify its new rating, it should pay attention to the diversification of its economy and also embark on meaningful projects capable of resuscitating the economy in order to serve as role model for others on the African continent. This is not the time for Nigeria to rest on its oars. The latest rating poses serious challenges and the way the current administration responds to these challenges will determine how long Nigeria will remain in this enviable position. One of these challenges is the worsening power problem despite privatization. There can be no meaningful growth and development without steady electricity supply. It is absurd that Nigeria’s economy is still largely generator-driven in spite of billions of dollars already pumped into the troubled power sector by successive administrations since 1999. It is shameful that of the 160 million population, 120 million cannot have access to electricity supply. It is saddening that over 60 million generators were imported into Nigeria annually as at 2006 while a huge sum of N1.6 trillion was expended to fuel generators. The government is yet to appreciate that power is the engine that drives a nation’s economy and that without it, not even Africa’s biggest economy will realize its objective of becoming one of the most leading 20 economies in the world by 2020. • Ajayi is a journalist and public affairs analyst 08033068898 (sms only)

Who is afraid of Emmanuel? Simeon Bassey

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ike the grave, human beings cannot be satisfied. They chase after colour black with insistent ardour, when they get it; they labour all their lives to get white, which they think is better and shortly after achieving that, they begin the hustle for red. The popular song by juju musician, Chief Ebenezer Obey, about a man, his son and a donkey and the untiring complaints of the onlookers will always be evergreen, especially whenever a discourse is to be undertaken on the impossibility of satisfying human beings. What had started like a beer parlour talk, whispered by political busybodies and people loyal to opposition politicians in Akwa Ibom State that the Secretary to the State Government, Mr Udom Gabriel Emmanuel, was not cut out for politics and was inaccessible, took a different turn last week. Obviously, the few self-conceited politicians had remembered the opposition’s stock-intrade of media bashing and as usual had paid some hatchet job specialists in the media to put a garb of credibility on their obnoxious story. Reading through some of the commissioned reports last week, and

it was not the first time I would be reading such reports, all I saw were lines after lines of chicanery, bad-belle and needless accusations about a man who has done nothing but do his job as SSG of the Land of Promise, Akwa Ibom. For instance, some of the reports had accused Emmanuel of parading himself as ‘governor-in-waiting,’ while some have gone as far as saying that the SSG is cocky and arrogant and that he had been campaigning. But looking at the ex-banker and the way he has comported himself ever since he assumed office as well as how he has gone about his job as SSG, one can only see through the cloud of lies being peddled. While the SSG has never declared an ambition to contest the governorship election, his composure and carriage appeared to have been posing a threat to the sponsors of these tissues of lies. But everyone close to Akwa Ibom State knows the governor, Chief Godswill Akpabio, will not condone public servants neglecting their jobs to go about talking about 2015 and it would be recalled that this decision led to the exit of Emmanuel’s predecessor in office. The governor’s focus had always been on sailing the ship of the state to fair haven, with seven years of unprecedented human and physical developments being proofs of that

focus. Not only was that focus the main reason Akpabio appointed a man who had seen it all as a professional in the banking sector as a partner in progress for the transformation of Akwa Ibom, it is the greatest drive for the development of Akwa Ibom and the needed bridge for the post-Akpabio era. Without doubt, young and old in Akwa Ibom and indeed the entire country had begun to pay special attention to the state ahead of the 2015 election, with that attention always directed at states whose governors succeeded in serving for two terms or had been extraordinary. Words have traversed the state about the need for a credible and worthy successor to Akpabio, so as to continue the good work, with talks about zoning and merit taking centre stage in political discourses about Akwa Ibom ever since Akpabio won reelection. Therefore, if some people have begun to fear Emmanuel as the possible successor to Akpabio, leading them to rake up baseless allegations, one can only begin to imagine what capabilities they must have seen in the calm and easy-going SSG. Emmanuel, who spent decades in the financial sector and had risen to become an Executive Director in Zenith Bank, is a competent son of the soil. An Ibibio man of repute from Eket and a man diligent in his works, who is fit

to stand before kings, Emmanuel would no doubt be any sane society’s pick to succeed a governor like Akpabio and can only be adjudged a misfit by Banana Republic citizens, who revel in the leadership of rogues and charlatans. Emmanuel’s wealth of experience in financial management, his economic savvy as well as his commitment to development should have been considered as positives for a fast-developing state but busybodies see differently. To them, Akwa Ibom will not do well with a banker as governor, they want someone who can make the state bankrupt; they are not comfortable with a “man that is more or less a total stranger in Akwa Ibom PDP politics,” they want long-timers in politics even if they don’t mean well for the people. Emmanuel’s credential and credibility must have been seen as towering, hence the need to pull him down before he even say a word. But Akwa Ibom people know better. They know the leaders that care and have their interests at heart and when the time comes to make a decision about who will succeed Akpabio, their judgement and not lies peddled by deceitful politicians and publicised by paid spinners, will be the final verdict. • Bassey is an Abuja based Public Affairs analyst.


Sanctity of Truth

Tuesday, April 15, 2014

Can prayers alone save us? (2) Continued from yesterday

Victoria Anozie

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esides, man by his social nature and corporeal dimension is essentially a religious being. If he doesn’t choose God, he will choose science, ideals, money, etc, and in the final analysis, choose and worship himself. A-theists, for example, are very ‘religious’ people; they are as, or even more than, obsessed with God as truly religious people, though unfortunately this obsession is in the negative sense. They believe strongly that God does not exist and if God ‘dies’ someday as Frederick Nietzsche in his moments of madness posited, it would mean the end of a-theists. The main substance ‘Theo – God in Greek Language – is ‘gone’ and without him, there will be no a-Theo, atheist. One major cause of this delusion (atheism) is scientism, that extreme exaltation of science to the point that whatever cannot be ‘tested in the labs’ is considered unreal, imaginary and these labs can only deal with material, concrete, substances. But it has not and cannot be scientifically proven that whatever science validates is real. How do you prove scientifically that your wife loves you, or that your children ought to respect you? And beyond this realm of intangible realities is the realm of supernatural beings and the supernatural Being par excellence, God. A story is told of a young businessman sharing a compartment on a train with an elderly gentleman. When he noticed that the old fellow was quietly and intently praying with his rosary, the young man chided him for his ‘superstition’ and told him that science had rendered the beliefs of religion irrelevant.“How did you come to discover that?” the old gentleman asked. His companion didn’t really know how to answer the question fully right then and there, so he offered to send him a few texts and public lecture notes on the subject for his enlightenment. “What’s your address?’ he asked, “I’ll send you the material via the Post Office.” The old man rummaged in his coat pocket and produced a tattered business card that read, Louis Pasteur, Paris Institute of Scientific Research. Louis Pasteur was the 19th century giant of Microbiology who proved the germ-theory of disease and invented the rabies vaccine. His humility certainly didn’t hinder his greatness and his commitment to science did not preclude his belief in God. I have mentioned attitudes dwelling on the extreme to science, but as with every other reality linked to human beings, rational and free, attitudes to religion can also be taken extremely. An important aspect of religion is the per-

sonal relationship with that Being, God, who tells us in the Scriptures ‘without Faith, it is impossible to please Me’ and ‘Faith without works is useless, dead’. Once, during my pregraduate days, a friend was explaining to me the balance a University student ought to set between all the activities in College calling for attention. She exhorted me to pray, to seek, find and love God and she added in a jokingly serious tone ‘but this does not mean that you should be in Church while your classes are on. If I were God and I find you doing such, I will chase you out, as Jesus did, with a whip and back to class.’ We laughed over it but the message struck home. That student who spends the night before an unprepared for examination, in a vigil in Church; that lady who dresses immodestly and justifies it by saying ‘my pastor’s wife saw the dress and ‘okayed’ it’ or ‘God looks not on the outside but on the heart’;, that man who frequently dodges work to attend one crusade or the other; that leader who leaves his constituency, state or country in chaos and spends millions of naira and quality time going from Rome to Jerusalem to Mecca, is guilty of an abuse of Religion. What is not wrong, what is in fact the right thing, is the student who realises that Jesus, her Lord and Love, is Perfect God and Perfect Man and striving to imitate him by taking her Christian life seriously, also strives to perfection in her studies and her relationships with others as Christ did; the lady who in keeping with her Christian beliefs dresses modestly and at the same time elegantly, as someone once said to me ‘I will rather be decently vain than appear drab’ and I totally agree with her; the employee who puts in his best at work knowing that ‘the earth is the Lord’s and his fullness thereof’ and contributes more than his fair quota to the development of society, seeking temporal happiness while awaiting eagerly the eternal joy in heaven; the leader who takes the affairs of his people not just to his pastor but to his personal prayer with God – for prayer is a dialogue between God and Man – while he does his best working with his cabinet, to ensure the common good, the temporal happiness of his people. As the Catholic encyclopaedia puts it ‘The goal of the State is the temporal happiness of man, and its proximate purpose the preservation of external juridical order and the provision of a reasonable abundance of means of human development in the interests of its citizens and their posterity. Man himself however, has a further goal of perfect happiness to be realized only after death, and consequently a proximate purpose to earn in this life his title to the same. In the pursuit of this latter purpose, speaking in

OPINION 21

the abstract, he had a natural right to constitute a social organization taking over the worship of God as a charge peculiarly its own. In the concrete however, i.e., as a matter of fact, God by positive law has vacated this natural right and established a universal society (the Church) for Divine worship and the securing of perfect happiness in the hereafter. God, furthermore, has appointed for man a destiny which cannot be attained by mere natural means, and consequently God has conceded to man additional means commensurate with this ultimate purpose, putting these means at the disposal of man through the ministration of the Church. Finally, He has determined the form of external public worship to be rendered, centring it about a sacrifice, the efficacy of which is from itself, being, as it is, a repetition of the Sacrifice of Calvary. The goal, then, of the Church is the perfect supernatural happiness of man; its proximate purpose, to safeguard the internal moral order of right and wrong; and its external manifestation, to care for Divine worship and minister to man the supernatural means of grace. The State, then, exists to help man to temporal happiness the Church, to eternal. Of these two purposes the latter is more ultimate - man’s greater good, while the former is not necessary for the acquisition of the latter. The dominating proximate purpose of man must be to earn his title to eternal salvation: for that, if needs be, he must rationally sacrifice his temporal happiness. It is clear, therefore, that the purpose of the Church is higher in the order of Divine Providence and of righteous human endeavour than that of the State. Hence, in case of direct collision of the two, God’s will and man’s need require that the guardian of the lower purpose should yield. Likewise the argument for the extension of the powers of the higher society in a measure into the domain of the lower will not hold for such extension from the lower into the higher (Catholic Encyclopaedia ‘State and Church’).’ I end with these passages from the Epistle of St. James the Apostle; ‘But you must do what the word tells you and not just listen to it and deceive yourselves. What will it profit, my brethren, if a man says he has faith but does not have works? Can the faith save him? So faith, unless it has works, is dead in itself. But someone will say ‘you have faith and I have works’. Show me your faith without works and I from my works, will show you my faith. You believe that there is one God – that is well – but the devils also believe and tremble. (Jas 1:22; 2:14, 17-19) • Anozie wrote in from Lagos.

Repackaged Tobacco Control Bill and matters arising Anukam Isiguzo

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nitially it sounded untrue when news started filtering that the Federal Executive Council (FEC) had at its meeting on Wednesday April 9, 2014 approved the “repackaged” National Tobacco Control Bill (NTCB). The immediate excitement the news generated matched the disenchantment that three years of inaction on the bill had previously spawned among Nigerians. The tone of the Minister of Health, Professor Onyebuchi Chukwu after the FEC meeting chaired by President Goodluck Jonathan, indicates that anytime soon the National Assembly will receive the document for consideration and passage. For public health experts, the repackaged bill will not only reduce the tobacco health burden the nation currently shoulders, it will also draw positive attention to Nigeria in the committee of nations that have signed and ratified the World Health Organisation Framework Convention on Tobacco Control (FCTC).

That this life-saving initiative is coming barely two months after Lagos State passed a law regulating smoking in public places is particularly noteworthy. The bill had been the source of controversy since 2011 when President Goodluck Jonathan reportedly mandated the Minister of Health to work on it after a failed effort by the National Assembly to secure his signature. At a point it was said that the bill was lost in transit. At another it was said to have developed wings and flown away. But when it was finally traced to the Ministry of Health, no one could actually say what was removed or what was inserted. The recommendation on stiff fines and smoke-free public places was however welcome. Nigerians are in unanimity that if the current legislation sails through and is implemented to the letter, it will have a multiplier effect beyond the wellness of Nigerians. For instance, it is anticipated that the huge sums that government currently expends on treating patients suffering from tobacco-induced illnesses will be redirected to development projects in vital sectors of the economy.

Minister of Health, Professor Onyebuchi Chukwu gave more insight into the benefits of the bill at a press briefing with State House correspondents after the FEC meeting. In his words: “the bill is specifically to control the dangerous effects of tobacco and forestall tobacco manufacturers from turning Nigeria into a dumping ground.’’ Its recommendations include the designation of certain public places as non-smoking areas, and a fine of N50,000 exclusively or combined with a six-month jail term for any individual caught smoking when the laws commences. In like manner, any company that allows its staff or visitors to smoke in a non-designated area would be fined between N1 million and N5 million, while its chief executive would be sentenced to two-year imprisonment. The bill totally prohibits advertisement by tobacco companies either in broadcast, print, or outdoor forms and further recommends 50 per cent of cigarette packs in Nigeria carry warnings about the use of tobacco. Laudable as these recommendations

are, there is no doubt that tobacco entities operating in the country are not very happy with their likely loss of patrons. At the last count, Osun, Lagos, Rivers, Cross River and the Federal Capital Territory have passed laws prohibiting smoking in public places. These positive developments have been the butt of groups sympathetic to the tobacco industry who have used every opportunity to propound flawed and indeed very laughable arguments that suggest watered down legislation. Their propositions are as varied as the constituents of each stick of cigarette. They range from the need for the Nigerian government to take up the tobacco transnationals as stakeholders in the legislative processes, to others more intriguing like urging government to avoid increasing taxes on tobacco products because of an imaginary impact on the economy. Yet, others have been very combative in their outright aspersion on public health advocacy groups that are labeled as fronts or cronies of foreign NGOs. • Anukam Isiguzo wrote from Enugu


22

Tuesday, April 15, 2014


ARTS TUESDAY, APRIL 15, 2014

www.newtelegraphonline.com/arts

THEATRE

Stories by Tony Okuyeme

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NEW TELEGRAPH

anke Omu, an adaptation of The Palm Wine Driknard is among series of plays that will ignite the stage as part of activities for this year’s edition of Lagos Black Heritage Festival (LBHF) which began yesterday with grand parade of the masquerades, performance of Obakoso, among others at the Freedom Park (Old Colonial Prison), I Hospital Road, off Broad Street, Lagos. Other performances during the LBHF include two dramatic premieres, one of which is “Do Your Own Thing,” which features an array of surprise talents ready to deliver unpredictable presentations; the Boat Regatta, a Lagos pride and cultural signature will outdo its previous outing, with colourful display at the lagoon which will be followed by the Street Carnival, a twin act with Calabar Carnival, to usher in Easter Monday. Also scheduled for performances during the week-long LBHF include Mammywater’s Wedding by Bode Sowande, Olodumare, a musical concert by Wole Alade, featuring the Steve Rhodes Ensemble, Eko Brass Band and Footprint of David, which holds April 17, Gbekude – Yoruba comedy, April 16, and Eko Brass Band, April 17. There are also other presentations including art exhibition titled Vision of The Child (VOTC), as well as the Lagos Street carnival. Produced by Tunde Kilani and director Dr Tunde Awosanmi, and choreographer by Adedayo Liadi (Ijodee), Lanke Omu will be staged tomorrow April 16. It features the artistic director of Crown Troupe of Africa, Segun Adefila, Bayo Ogundele, Ken Ola-Ayeni, Awoko, Muritala Amulegboja, Johnson Goddey, Abimbola Jimoh, Monsuru Olajide and also Victoria Ndubuaku and Tosin Oyebisi . Significantly, the LBHF 2014 which will run from April 14 till 21 will “open the eyes (and ears!) of aspiring musicians to the vastly unexplored possibilities of the musical forms right in their own backyards, as an option to the largely imitative trend currently pursued by a new generation of musicians. Innovative African music, we propose, should not end with Afro-beat!” As the organisers also noted, “Much is happening in the musical field, but there is a domination of Eura-merican pop forms, which near completely stifles the exploration of indigenous musical resources both in direct performance for audiences, and in their application to other disciplines – most notably in theatre and cinema/video. Regarding the latter, when one considers what passes for incidental or ‘mood’ music in much of the output of the ever-expanding African film industry; it becomes a classic case of a visual assault compounded by aural aggravation! A reverse track may

There is only one necessary condition for the emergence of a new theatre, that the stage and auditorium should be open to the masses, should be able to contain a people and the actions of a people ― ROMAIN ROLLAND

23

"

Toast for The Palm Wine Drinknard as Lagos Black Heritage Festival begins

Dancers in performance during 2013 Lagos Carnival.

Traditional drama was founded on what was generally dubbed ‘folk opera’, a form that is largely dying out yet be brought about by exposing film and video directors to possibilities from neglected musical modes within their

own cultural environment. “Traditional drama was founded on what was generally dubbed ‘folk opera’, a form that is largely dying out. Additionally therefore, in an attempt to resuscitate this unique performance genre, so highly developed in other societies - see, for instance, the heights to which it has been taken in countries like China - LBHF yields Front Stage this year to Music, its fortunes under technological enhancements and the proliferation of foreign music. Music,

we know, plays a dominant role in social life.” The Festival will use the event to also pay tribute also to pioneers - such as Steve Rhodes - whose struggling orchestra and choral ensemble won laurels in famous international competitions such as the Welsh Eisteddfod. It will provide a homecoming platform for contemporary composers whose works have been enjoyed for decades by foreign audiences but remain totally unknown in their own homeland.

For Easter, Belong goes on stage

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ive theatre enthusiasts will be treated to the diverse antics of a rich dramatic presentation as Belong, a play written by UK-based Nigerian playwright, Bola Agbaje, goes on stage from Friday April 18 to 20, 2014, at Federal Palace Hotel, Ahmadu Bello Way, Victoria Island, Lagos. Starring veteran actress Taiwo Ajai-Lycett, Tunji Sotimirin, Toyin Oshinnaike, Bimbo Akintola, OC Ukeje, Dolapo Oni, Opeyemi Dada and Emeka Nwachukwu, the play is directed by Tosan Ugbeye, and produced by Adenugba Oluwanishola. Belong is “a light comedy about identity, stations in life and politics”. The 75 minute-long piece tells of the challenges of being a diaspo-

rian, deals with love, and explores the theme of gained and missed opportunities. It questions the notions of identity as many people go through life questioning where they truly Belong. The drama starts out in London with Kayode (Toyin Oshinnaike) and Rita (Dolapo Oni). The couple is at a low point after moody Kayode fails in his attempts to win election to Parliament after an embarrassing Twitter episode. As if the depression isn't enough for a man who has sacrificed his career to misguided allegations about the racism of his equally Black political opponent, along comes Fola (Bimbo Akintola) the first of a pair of truly overpowering Nigerian wom-

en. Her job is to sell the country to émigrés and persuade them to come back "home". And she carries it out with the kind of fearsome relish that makes refusal almost impossible. Against his wife's wishes, Kayode decides to take a reflective break to visit his Mama (Taiwo Ajayi-Lycett). Mama has semi-adopted a former "area boy" Kunle (OC Ukeje) , and is trying to turn him into a local politician with a brief to modernize and remove corruption. The African curse is embodied in the wolfish person of Chief Olowolaye (Tunji Sotimirin), looking uncannily like Eddie Murphy in Coming to America but behaving more like a Nigerian relative of The Godfather.


24 ARTS

Tuesday, April 15, 2014

Negro Arts Gallery: Sustaining family heritage Ebere Ameh

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tanding elegantly at the lounge of the Negro Art Gallery situated in Adeniran Ogusanya Street, Surulere, Lagos, is Homecoming, a mixed media room divider made of wood and metal etching. The decorative piece with breathtaking regal designs on both sides, it is one of the array of beautiful works that adorn the gallery. One cannot possibly help noticing this pensive young girl with a baby strapped on her back. The work is an oil on canvass that depicts the dilemma of a girl who got a child out of wedlock; the bane of many girls in our society today. They end up stigmatized with little or no hope for the future. She is as though wondering ‘how do I move on from here?’ A life-size Zebra and a giraffe stand gracefully nearby, arousing a strong nostalgia for a safari. Though made of wood, they could easily pass for live animals. Other wood works like the Ashante stool -the royal stool of the King of Ghana, beautiful pieces depicting native African men and women in various traditional occupations, excellently and aesthetically carved, and other decorative pieces for homes, hotels and offices a are just some of the many inspiring works of different media at the gallery. “We go for exquisite pieces from both within and outside the country. I have works that I can’t help buying when I travel out. But majority of the works here are from local artists - both big time and upcoming artists. Some of our young artists are wonderful and displaying their work is a way of encouraging them to keep on with the good works,” Funmi Ogbogu, the CEO of the gallery said. Mrs Ogbogu is a woman of many parts; though a trained Microbiologist, she retired as Head of Learning & Development from Cadbury Nigeria Plc. So how did she come about owning this Art Galleries with such array of artworks? She not only appreciates art with the eloquence of a pro, she has also become an art and promoter. “Negro Arts Gallery is a way of immortalizing my late father, Ernest Azubuike Emdim who owned the popular Negro Signs based in Be-

Some of the sculptures on display in Negro Art Gallery

I found that I have a collection of artworks in my house and my husband encouraged me to open a gallery in memory of my father nin City. He was a renowned all round artist - a painter, dramatist and a musician. He definitely had his hand in every pie but the last professional work he did was Industrial Art. He worked, painting vehicles, artistically inscribing their logos on them, for Nigerian Breweries, Lever Brothers and other big companies. “Before he passed on he told me specifically not to forget him. So over the years, I’ve been thinking, how do I do this, because it’s like everybody is forgetting him. Fortunately, one of my brothers is art inclined and I saw that he had problems marketing his works. Even when I was still working, I used to buy his works from him. When I resigned from Cadbury, I found that I have a collection of artworks in my house and my husband encouraged me to open a gallery in memory of my father,” Ogbogu explained. In addition to her brother’s works, Ogbogu now have works from other artists, both experienced and up-

Ogbogu

coming who use her gallery as an outlet to reach art lovers. She also collects works from other climes when she travels. “I have works from Tony Nwalupue, Demola Tukuru, Marshal Nwauwa, Lucky Isaiah, Anthony Emdin, Wahab Aromire, Johnson Sobowale and a host of others. We had two exhibitions last year which were part of creating awareness for the gallery. I make sure the works are framed because the beauty of arts most times is when you give it a nice frame.” Titled Homecoming, the first exhibition was done on Easter Monday. It was like

Ogbogu coming home after her foray in other fields to continue in the footsteps of her father. The second exhibition, which she titled The Logo was done on October, 2013. It saw the unveiling of the logo which had her father’s face. “My siblings give me a lot of support and encouragement. As a matter of fact, one of my brothers started it initially but he died in 2003. His was Negro Art Enterprises and he continued in my father’s line, doing industrial car paintings and all that. Because I’m not a hands on artist, I do the business part of it.”

Talking about the future of the Nigerian Art Ogbogu said, “I think we need to appreciate ourselves better, I mean our local art. I see a lot of things coming in from China, India and other countries and people are patronizing them. It’s alright but our people are so talented, we are so gifted. It’s amazing what we can do. I think we should appreciate our local arts more. People should, because you cannot have a rounded education without an appreciation of arts. Art makes you see things better, to hear things more and to look at meanings and draw inferences.” On the challenges of marketing which the upcoming artists face, Ogbogu said, “A lot of the well known artists are actually the ones that are calling the shots in the industry. The younger artists, though come out with awesome pieces, cannot afford to sell them at the rate the experienced ones do. So you can actually have affordable and within budget art. But the thing is that people want to identify with the known names whose works are wanted all over the world, adding that originality is what actually makes a work of art unique. Many Art lovers want artworks that when the name of the artist is mentioned, people would say "oh! I know the name." She plans to move to a bigger apartment soon, wants Negro Art Gallery to be the nest where her artistic siblings and other amazing artists can find refuge, serving as a starting point as they strategize to take the world stage through their works. “In the next two years, I see us moving away from here to a bigger and better place. I want the vision of this gallery not to die and so I see somebody coming from my lineage to continue with it. I want a situation where the artists in the family, if they can’t go anywhere else, they can come here. My father had many children, over 24 at the last count. Some of them have amazing artistic skills. Maybe this place can be a starting point for them even as we here also to encourage other artists who want to express themselves and pursue their passion to the utmost.”


BUSINESS TUESDAY, APRIL 15, 2014

WHAT'S NEWS Shell, Chevron, others shun listing in Nigeria International oil companies (IOCs) operating in Nigeria’s oil and gas business are reluctant to list on the Nigerian Stock Exchange (NSE), according to a document obtained by New Telegraph at the weekend.

}p-26

Post PIB: NNPC ready for reforms –Yakubu The Nigerian National Petroleum Corporation (NNPC), at the weekend, expressed readiness for the transformation that will come to it with the proposed Petroleum Industry Bill (PIB).

}p-27

Oil workers give fresh conditions to support refineries’ sale Oil workers, at the weekend, gave conditions which could make them support the Federal Government’s plan to sell the four refineries.

}p-30

Overland Airways get new operator certificate The Nigerian Civil Aviation Authority (NCAA) has awarded Air Operator Certificate (AOC) to Overland Airways. It is part of the ongoing recertification of all the nation’s airlines.

}p-40

BUSINESS CREW AYODELE AMINU, Deputy Editor (Business) SIMEON OGOEGBULEM, Dep. Business Editor BAYO AKOMOLAFE, Asst. Editor (Maritime) SUNDAY OJEME, Asst. Editor (Insurance) SIAKA MOMOH, Asst. Editor (Industry/Agric) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

CHUKS ONUANYIN, Energy NNAMDI AMADI, Reporter

AYODELE AMINU, DEPUTY EDITOR, BUSINESS

ayodele.aminu@newtelegraphonline.com ayodeleaminu@yahoo.com

Government said that it had not achieved much progress on the projects Adeola Yusuf

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he negotiation between the Federal Government and investors for construction of 10 refineries worth N8.1 trillion ($51.8 billion) has collapsed, a source close to the deal told New telegraph at the weekend. Government had earlier signed an N8.1 trillion ($51.8 billion) worth of Memorandum of Understanding (MoU) with various local and international investors between 2011 and 2012 for the construction of 10 new refineries across the country. “As at the moment, none of the investors is ready to go ahead with the agreement,” the source said. “Don’t forget that many of these investors have not been able to meet deadlines, therefore, they could not progress to the next level of negotiation,” he stressed. Minister of Petroleum Resources, Diezani Alison-Madueke, had earlier confirmed the foot-dragging on the implementation of agreement with investors on the Greenfield refineries. She said on the sideline of

Bayo Akomolafe

WITH AGENCY REPORT

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oves by the Finance Minister, Dr Ngozi Okonjo Iweala and other finance ministers to lift the global economy by a two per cent growth before they meet in Australia in September have been condemned by the Australian Treasurer, Joe Hockey. He said that the growth targets set by the Group of 20 bloc of advanced and developing nations this year was unacceptable.

L-R: Executive Director, World Bank, Dr. Mansur Mukhtar; Acting Central Bank of Nigeria (CBN) governor, Dr. (Mrs) Sarah Alade and Minister of Finance/Coordinating Minister of the Economy, Dr. (Mrs) Ngozi Okonjo-Iweala, during a press briefing at the just concluded World Bank/International Monetary Fund Spring Meetings in Washington D.C.. on Sunday.

PHOTO: AYODELE AMINU

FG, investors’ N8.1tr refineries deal collapses the last Offshore Technology Conference (OTC) in Houston, Texas, United States (US), that the Federal Government has not been able to achieve much progress. The move to construct these 10 refineries was, according to the minister, part of efforts towards reducing the country’s overdependence on importation of petroleum products for

domestic consumption. Represented by the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, Alison-Madueke said that while government is making effort to ensure that the four refineries in the country are producing up to full capacity, it was also working hard to ensure that the proposed Greenfield refineries are

Australian treasurer tackles Okonjo-Iweala, others over economic growth G20 members represent around 85 per cent of global gross domestic product, more than over 75 per cent of global trade and two-thirds of the world’s population. Hockey was also deeply critical of delays in implementing changes agreed by the G20 bloc in 2010 for reform of the International Monetary Fund.

Hockey blamed an impasse in the U.S. Congress for the delay, saying it “diminishes America’s global standing instead of enhancing it.” According to him, the proposals put forward by the countries so far had been unacceptable, noting that they only met CONTINUED ON PAGE 26

up and running. She said: “We must get the business model right. There are quite a number of issues that are wrong. No investors will want to invest in a regulated environment. “Today, the petroleum product market is regulated and there are quite a number of things that are needed to be done to ensure that the business environment is conducive enough for investors to invest. “The business models must be right. We are working hard to establish investors’ confidence in the Greenfield refineries. “There are four refineries with a combined name plate capacity of 445,000 barrels per day built in Kaduna, Port Harcourt and Warri. We have LNG plant with installed capacity of 22 million tonnes per annum. “The country is currently implementing two additional LNG projects, which will give a CONTINUED ON PAGE 26

Rates Dashboard

DELE ALAO, Brands/Marketing Editor ABDULWAHAB ISA, Finance Editor

www.newtelegraphonline.com/business

STALLED

WOLE SHADARE, Aviation Editor CHRIS UGWU, Capital Market Editor

NEW TELEGRAPH

‘GAS SUPPLY STILL CRITICAL TO ELECTRICITY IN NIGERIA’ }p-29

INFLATION RATE February 2014......................7.70% January 2014 .......................8.00% December 2013....................8.00%

LENDING RATE InterBank Rate . . . . . . . . . 10.50% Prime Lending Rate. . . . . 16.93% Maximum Lending Rate..25.83%

EXCHANGE RATE

(Parellel As at April 11)

USD . . . . . . . . . . . . . . . . . . . . . . N170 Pounds . . . . . . . . . . . . . . . . . . N282 Euro . . . . . . . . . . . . . . . . . . . . . N235

EXCHANGE RATE

(Official As at April 11)

USD . . . . . . . . . . . . . . . . . . . N155.74 Pounds . . . . . . . . . . . . . . . N260.56 Euro . . . . . . . . . . . . . . . . . . . N216.15 Source: CBN


26 BUSINESS | NEWS

Sanctity of Truth

Tuesday, April 15, 2014

Shell, Chevron, others shun listing in Nigeria HICCUPS Multinational companies make up just 2.6 per cent of the Nigerian Stock Exchange (NSE) market capitalisation Adeola Yusuf

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nternational oil companies (IOCs) operating in Nigeria’s oil and gas business are reluctant to list on the Nigerian Stock Exchange (NSE), according to a document obtained by New Tele-

graph at the weekend. As a result of the oil firms’ lackluster attitude, the document noted that multinational firms make up just 2.6 per cent of market capitalisation. Investments by these IOCs in deep water alone have exceeded $48 billion. Most of them are selling their onshore assets running into several billion dollars. “None of the foreign oil majors such as Shell (RDSa.L), Chevron Corporation and Exxon Mobil (XOM.N) that have been operating in Nigeria for decades are listed,” the document showed. It added: “Only local firms

Oando, Forte Oil, Conoil and now Seplat have listings.” Helmsman of the Exchange (NSE), Oscar Onyema, had earlier said that a stock market debut by oil and gas firm, Seplat, in Lagos and London, is likely to unleash a round of initial public offerings (IPOs) in Nigeria. Most of the IPOs were stalled in the wake of a 2008 financial crisis. More oil and gas listings, Onyema said on the sideline of Africa Investment Summit, are to follow Seplat’s, which would help tackle the sector’s underrepresentation on the NSE. The NSE boss confirmed

the document’s position that currently the oil and gas sector make up just 2.6 per cent of market capitalisation versus 14 per cent of Nigeria’s newly rebased Gross Domestic Product (GDP). “After Seplat, the sector will make up 5.9 per cent of the bourse,” the document predicted. Seplat said it had raised $500 million in its IPO and plans to list its shares in Lagos and London at the weekend. The offering gives Seplat a market capitalisation of $1.9 billion. Heavyweight cement producer, Dangote Cement, accounts for a third of the Nigerian bourse, followed by the banking sector, collectively making up 15 per cent. “It will be the first major IPO in the market since the 2008 burst. It could signal the opening of a window for other IPOs to come through,” Onyema told Reuters. He added that he expected some of the many newly privatised power firms to follow.

IPOs dried up after a 2008 crash wiped over 60 per cent off the stock market’s capitalisation. The index has since recovered, gaining 35 per cent in 2012 and 47 per cent in 2013, but IPOs are yet to resume. The market is down six per cent in the first quarter, which Onyema attributed to the tapering of quantitative easing in the United States, volatile emerging market currencies and Nigeria’s forthcoming elections, which had led to some pullback from foreign investors. Nigeria revalued its GDP penultimate Sunday to over $500 billion, surpassing South Africa as the continent’s top economy and shrinking the ratio of stock market capitalisation to GDP to 15 per cent, compared to over 100 per cent in most developed stock markets. “It positions us better to become a gateway to Africa ... for foreign direct or portfolio investments,” Onyema said of the rebasing.

FG, investors’ N8.1tr refineries deal collapses C O N T I N U E D F R O M PA G E 2 5

L-R: Chief Executive Officer, The King's Limited, Mr Mike Itegboje; President/Chairman of Council, Chartered Institute of Stockbrokers, Mr Muritala Olushekun; Chief Executive Officer, The Nigeria Stock Exchange, Mr Oscar Onyema; and Managing Director/CEO, First City Monument Bank Limited, Mr Ladi Balogun, during the 2014 annual dinner/awards of the institute, in Lagos... at the weekend

Wole Shadare

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he Federal Government has disclosed that the six fresh cargo terminals being constructed across Nigeria will be completed in 16 months so that Nigeria can begin to benefit from the £2 billion perishable cargo market in Africa. Managing Director of the Federal Airports Authority of Nigeria (FAAN), Saleh Dunoma, said this in a paper delivered at the 4th Annual Emerging Airports Conference & Exhibition holding in Abu Dhabi. He called on foreign investors to take advantage of the fertile investment climate and invest in the Nigerian aviation sector. Dunoma also described the massive remodelling projects across its 22 network across Nigeria as a veritable foundation for investments in the sector. “Opportunities abound in the Aerotropolis project where investors are guaranteed return

Nigeria to benefit from £2bn African cargo market on their investments.” He invited investors to be part of the Aerotropolis and fresh produce market and described Nigeria’s rating as the 26th economy in the world as a clear indication that Nigeria is taking its pride of place as the truly giant of the continent. Former Minister of Aviation, Stella Oduah, had recently said that the 14 perishable cargo terminals project embarked upon was necessitated by the huge revenue generated by the sector which currently stood at $1.53 billion (about N245 billion). This is just as she said that the project will be of immense benefit to famers, who constitute 80 per cent of Nigeria work force and rural dwellers in the country. She stated that although the Federal Government was the promoter of the programme,

the various states and local governments have keyed into it as it would benefit the rural dwellers who daily toil hard on their farms but earn very little from their produce. According to her, “various private investors, local and state governments have expressed readiness to take advantage of the programme and contact the relevant authorities for permissions to establish Export Processing Zones or Free Economic Zones at the terminals.” Spokesman for FAAN, Yakubu Dati, said that the abundance of and varieties of fresh produce in Nigeria and the growing economic importance of the sector, which stands at $1.53 billion (about N245 billion) has necessitated the development of 14 Perishable Cargo Terminals in Nigeria.

total in-country capacity of over 40 million tons per annum when completed. “The long-term plan is for Nigeria to become the gas hub of the sub-region. “The history of oil and gas exploration is replete with how new paradigms have successfully created new opportunities, which hitherto were thought to be non-existent. The West African Transform margin plays an excellent example of this. Prior to its emergence as a hotbed of exploration activities, the West Africa oil province was dominated by onshore and shallow

water production from Nigeria, Gabon, Angola and to some extent, Equatorial Guinea.” She said that Nigeria has over 35 billion barrels of proven oil reserves and 187 trillion Cubic Feet (TCF) of proven gas reserves with plans to increase it in the next few years. Diezani disclosed that the current crude oil and condensate production runs at over 2.4 million barrels per day and gas of over eight billion cubic feet per day. “It is projected that based on current industry trend, crude oil and gas production would rise to over three million barrels per day and 10 billion cubic feet per day by 2015.”

Australian treasurer tackles Okonjo-Iweala, others over economic growth C O N T I N U E D F R O M PA G E 2 5

10 per cent of the goal. “It’s not good enough for some countries just to reheat previous announcements. You need to actually really do the heavy lifting,” he said. The agreement by the G20 nations at a meeting in Sydney in February to lift their collective GDP by over 2 per cent above what current economic policies would achieve over the next five years was reiterated

in a statement last Friday. The statement acknowledged the political difficulties in making changes to reach that goal. “There was a very frank discussion about the fact that they need to be real and new commitments,” Hockey said. Finance ministers from the bloc will meet in the tropical Australian city of Cairns in September before a summit of G20 leaders in Brisbane in November.


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EFFICIENCY PIB to subject NNPC to the Companies and Allied Matters Act Adeola Yusuf

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he Nigerian National Petroleum Corporation (NNPC), at the weekend, expressed readiness for the transformation that will come to it with the proposed Petroleum Industry Bill (PIB). Group Managing Director of NNPC, Mr. Andrew Yakubu, who said this maintained that the bill would transform the corporation into a limited liability company which will be subject to the Companies and Allied Matters Act. Represented by Mr. Vitalis Ugochukwu, Executive Director, Operations, Port Harcourt Refineries, Yakubu said at the ongoing Enugu International Trade Fair that the PIB, when passed into law, would facilitate the competitiveness of NNPC in the global market. “The PIB is change legislation which promises to offer our corporation all necessary incentives to enable it excel. “The bill proposes the incorporation of NNPC as a limited liability company which will be subject to the Companies and Allied Matters Act,” he said. Yakubu said that it was necessary for the new NNPC to be run as a pure business concern, adding that it would enable the corporation to raise funds from the capital market and pay dividends to its owners.

VIOLATION Ex-Minister of Power insists that new assets owners are delaying investments Adeola Yusuf

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ew owners of power assets in Nigeria are violating the agreement they had on investments, former Minister of Power, Professor Bart Nnaji, declared at the weekend. The Federal Government handed over power assets to these investors on Friday, November 1, 2013 with expectations that they would invest $18 billion to put the power sector on a strong footing. Nnaji, however, said this on the sideline of the Lagos Economic Summit tagged “Ehingbeti 2014” that the investors

Post PIB: NNPC ready for reforms –Yakubu

Corporate Headquarters of the Nigerian National Petroleum Corporation (NNPC) in Abuja.

The bill, he said, would separate the Nigerian Gas Company into two entities, Nigerian Gas Transmission Company and the Nigerian Gas Marketing Company. “In the same vein, the current PPMC will be split into two entities, namely the National Transportation Logistics Company (NTLC) and the Product Marketing Company (PMC),” he said. Yakubu said that while the

NTLC would be wholly owned by government, the PMC would be wholly owned by the NNPC Ltd. “At the same time, the NNPC will shed its current regulatory role and focus on the business of exploration, refining and marketing of petroleum products,” he said. He added that it has become expedient for Nigerians to partake in the actual production of hydro-carbon.

“It is a welcome development because we will have more value for hydro-carbon and understand what other multi-national companies are doing in the crude oil business.” Yakubu said that the PIB bill made provisions for development of gas for the domestic market through the combination of obligations set by the Petroleum Inspectorate and Favourable Fiscal Provision. “Gas contributions to the

New owners violate pact on $18bn power investments–Nnaji have only invested to purchase but they have not invested to improve power generation and distribution in Nigeria. Fielding questions on a Channels Television programme monitored in Lagos, he said: “New owners of DISCOs (distribution companies) and GENCO (generation companies) must invest quickly because this is in accordance with the agreement they signed.” These people, according Nnaji, “have only invested to purchase, they have not invested to improve.” He continued: “They should do this quickly so as not to mar the privatisation agreement. They have to start these investments as quickly as possible. I

am not sure they have started at all.” Meanwhile, the electricity market in Nigeria has suffered an estimated N140 billion revenue shortfall in four months, New Telegraph learnt at the weekend. The loss was due mainly to power generation instability, inability of new power assets owners to arrest energy theft and inefficiency in collection of revenues by distribution companies. A source at the Nigerian Electricity Regulating Commission (NERC) told this newspaper that the commission had already began moves to rally stakeholders in the sector on how to quickly address the

loss. The commission, he said, “will sit with the new owners of the privatised electricity companies to analyse the critical indicators of the losses in the coming months.” A staff of Market Competition and Rate Division, NERC, Mr. Shettima Abdulkadri, had earlier confirmed the shortfall in power sector’s revenues at a workshop in Abuja. The revenue shortfall, he said, “is a figure that fluctuates because generation goes up and down every month and revenue fluctuates. The collection also fluctuates, but on the average in the last six months, data that we have looked at the collection is about N18.5 billion

world energy mix are growing faster than can be imagined, and particularly in Nigeria. “Gas production offers the potential to grow Nigeria’s Gross Domestic Product (GDP),” he said. Yakubu said that it was the desire of NNPC to transform into a high performance and join the league of some national oil companies that were classified as international oil companies. per month for all the gencos. “All the market participants are expected to be paid and again it also fluctuates depending on various factors and it could go as high as N30 billion to N35 billion. That will give you a rough idea about the quantum of the shortfall we are talking about.” The Multi-Year Tariff Order (MYTO) for 2013 was based on power generation of 7500 mega watt, but since the beginning of the year, power generation has hovered around 3000mw, which has seriously destabilised the key assumptions in the tariff assumptions. Abdulkadri explained: “The reasons for not meeting those capacities are that we expected new generations to come from NIPP plants but they did not come at the time we expected but some are coming in now with the commissioning of the Geregu plant.


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Gas deficit: Oando advances plans for commodity delivery to Northern Nigeria DISCUSSION Company has said that it is in talks with northern states governors

feasibility study and this was done in collaboration with the Nigerian National Petroleum Corporation (NNPC),” the source added. “Oando gas and power is not necessarily managing but building these assets. We will build more assets and we are going ahead with the plan on gas delivery to the North. Already, we are in talks with many state governments to increase capacity. The company had earlier declared that it made a hump sum of $250 million from the sale of its East Horizon Gas Company (EHGC) subsidiary to Seven Energy Limited.

EHGC was originally set up as an Oando midstream Special Purpose Vehicle to build and operate an 18-inch, 128km natural gas transmission and distribution pipeline with a capacity of 100mmscf/d, traversing Akwa Ibom and Cross River states. The divestment of this asset signifies a considerable profit margin for the company and validates the intrinsic value that lies within its gas business and indeed, the midstream sector. The statement reads: “This is testament to the enabling environment evolving in the midstream created by the Nigerian

Navy destroys 10 illegal refineries in Delta

Aside the 10 illegal refineries, 31 drums of locally refined Automotive Gas Oil (AGO) were also destroyed while one welding machine was recovered during the operation. He said: “We went out for a routine patrol and we ran into over 10 illegal refineries at Isaba in Warri South Local Government Area. We destroyed them and from our last operation, which occurred three weeks ago, we reliably informed you that the aspect of bunkering through illegal refinery has reduced drastically. Gemu said for oil theft to be completely eradicated in the Niger Delta, there should be the involvement of local communities where oil installations are stationed. The Commanding Officer, however, warmed those sabotaging the economy to desist from the act, assuring that anyone caught would face the full wrath of the law.

Adeola Yusuf

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ando Plc has advanced plan to end the gas shortage ravaging the Northern part of Nigeria, New telegraph gathered at the weekend. A source close to the plan disclosed that a feasibility study on this plan had already been conducted. “We have just conducted a

government. This validation is likely to attract more funding and instil confidence in potential investors in infrastructure development and pipeline networks in the midstream. “Oando’s commitment to the development of midstream infrastructure and energy solutions aims to unlock and harness the available vast resource potential of Nigeria, thereby reducing the perennial power challenges currently plaguing the country.” The EHGC sale, the statement continues, “underlines Oando’s desire to divest into the more profitable Upstream,

A gas plant

OIL THEFT Navy increases operations in the waterways Adeola Yusuf

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he Nigerian Navy, at the weekend, destroyed 10 illegal refineries and other property worth several millions of naira at Isaba forest, near Ogbe- Ijoh town in Warri South West Local Government Area of Delta State. Commanding Officer of the NNS Delta, Navy Captain Musa Gemu, who disclosed this, maintained that the operation was in furtherance of the command’s commitment to tackle cases of oil theft in Niger Delta.

He said: “You will recall that three weeks ago we destroyed over 100,000 metric tons, but yesterday, just a little above 30,000 litres. “We are confident that with synergy from other security agencies, it will continue to go down, but basically what we are doing now is trying to nip it in the bud because some of those places we destroyed are being reconstructed. “So, we shall continue to nip them in the bud and by so doing, we shall be able to either stop it or reduce it to the barest minimum.” Gemu said that the command would continue to intensify its operations in the waterways with a view to effectively eradicate crude oil theft and other forms of criminal tendencies.

whilst rationalising its present business portfolio to reflect key opportunities for growth and value extraction.” Commenting on the sale, Mr. Wale Tinubu, Group Chief Executive, Oando PLC said: “This transaction aligns with our corporate strategy, as the proceeds of the sale will boost the group’s overall liquidity in furtherance of our main growth initiatives in the Upstream. “We remain steadfast in our commitment to grow the midstream business, evidenced by our ongoing expansion efforts of our various assets: the construction of the 4th phase of our Greater Lagos pipeline to increase our capacity and customer base in Lagos, the enhancement of our newly acquired Port Harcourt pipeline franchise; the growth of our Compressed Natural Gas distribution programme, which we commissioned in 2013; and the increase in our power generation to 23.55MW, with the addition of our 2nd power plant, the 10.4MW Alausa IPP. “We also have projects which are at the conceptualization phase and are expected to create value for us in the longer term; the 400km SW-NW EIIJ pipeline and the Central Processing Facility that will serve as a gas gathering and processing hub in the Niger Delta.”

IPMAN tasks members on downstream operations

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he Independent, Petroleum Marketers Association of Nigeria (IPMAN) ,has charged members to focus more on reviving the nation’s petroleum downstream sector. IPMAN said that the need became imperative following the global challenges and dynamics of the sector. This new directive was contained in a communiqués issued after their National Executives Council (NEC) meeting held in Lagos at the weekend. Special Assistant on Media to the IPMAN National President, Alhaji Danladi Pasali, who signed the communique, said that members need to focus on how to improve the socioeconomic growth than creating national disorder. He said: “We urge members

to embrace peace and unity among one another to move the association forward.” Pasali said that the current administration will ensure credible and transition of new members going forward. He pledged the association’s commitment toward a credible election, while assuring that IPMAN would ensure effective distribution of petroleum product across the country. The media adviser said that IPMAN leadership had appealed to warring members to be law abiding in the interest of national development. “We are appealing to all our members to be law abiding, prepare for the upcoming elections, which will soon be conducted for eligible candidates who wish to vie for any office."


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‘Gas supply still critical to electricity in Nigeria’ Former Minister of Power, Prof. Bart Nnaji, is the chairman of Geometric Power Limited. He says in this interview with ISIOMA MADIKE that significant improvement in the current gas supply across the country is one of the critical issues that require urgent attention in order to stimulate efficient power delivery. Nnaji

What is the amount of energy the country needs to power its industrial growth? We cannot know the amount of power we need unless we do an audit. From that perspective, Lagos was right when it said it requires 10,000 megawatt. And if Lagos with a population of 20 million needs that amount of power, you can only imagine what Nigeria with about 170 million people needs. That means something has to be done. There are obvious impediments against steady power supply like you mentioned in your lecture – problems of generation, transmission and vandalism, for instance. How can these be tackled? To start with, vandalism is in the entire value chain. There is vandalism in the gas pipelines; there is vandalism of the infrastructure for power and so these could be tackled by policies that are going to be placed to ensure that pipelines are properly managed, particularly the gas pipelines and being able to monitor them to ensure that the vandals do not have a field day messing up with them. Same thing for the power lines; if they clear the right of way, it becomes more difficult to vandalise them. It is much easier to vandalise the power lines than it is for the gas pipelines. In that respect, government at all levels should increase efforts at eliminating the activities of vandals who burst gas pipelines and other power transmission equipment. There should be a proper check of those behind the act because that remains a major stumbling block to the availability of power in the country. There is the need to tackle all these impediments and government should also consider tax incentives and other institutional reforms that could endear the private sector to invest in power opportunities. Government can go further to provide

or acquire the land, facilitate right of ways for gas pipeline and transmission equipment. That will enable the private sector and help to accelerate the delivery of power to Nigerians. How about the generation problem? The generation will be taking a time of reaction; I mean the action time of IPPs (Independent Power Projects) to come into place and also for gas producers to provide gas to support the existing turbans such as the government pipelines, the IPPs and the MIPPs. For the DISCOs (distribution companies), the expectations are that they are supposed to deliver because they know what is designed. I have also said that people should hold the distribution companies to what they promised. Analysts have applauded your company’s effort in Aba, Abia State. That is what many Nigerians expect from the other DISCOs. Is it that they were not abreast with the problems in the sector before bidding to take over from the Power Holding Company of Nigeria (PHCN)? Well, I cannot say that they are not competent. I would only maintain that they should be held accountable for what they promised Nigerians. They promised something when they signed on the turbans; I believe they were aware of the challenges before making such promises

Definitely, the estimated billing should not be in place at all if you ask me. In like manner, improper billing should not also be in place

and they should be honourable enough to deliver on their promises. If the people they retained from PHCN are not competent to drive their set goals, they should be removed and replaced with better trained and more competent personnel and bring proper tenacity to bear. Would you say there has been sabotage from the inherited personnel of PHCN? Well, they were actually paid off before the DISCOs took over. So, it’s up to the new owners to retain the people they want or to get additional new people. I don’t think it is fair to judge every worker of PHCN at equal level. There are those who were very competent and good. It is up to the distribution company owners to determine the staff they want. What about crazy billing system despite the fact that electricity is not getting to homes? Definitely, the estimated billing should not be in place at all if you ask me. In like manner, improper billing should not also be in place. There is no basis or justification for that in my opinion. The pricing must be right, otherwise power can be priced out of the reach of many consumers because if the price is not efficient, it can make downstream use of power uneconomically. Having said that, there is the need to ensure that regulatory and law enforcement agencies work together so that those who are making efforts and investment to bring power can ensure revenue is delivered. There are those who believe you ought not to have left office at the time you did so as to help drive the process of this privatisation to its logical end. Were you forced out of office or resigned voluntarily like Nigerians were made to believe? Well, I was just an employee of the Federal Government and so cannot de-

termine how long I would have to stay in office. But, I think that we delivered to the point of no return by the time I left office. For that, I am very happy. I was very happy and grateful to government for allowing us reach that point. However, I cannot begin to judge myself. Nigerians witnessed everything; they can judge for themselves. What advice do you have for Lagos in terms of improving power? Well, there should be significant improvement in the current gas supply across the country. That is one of the critical issues that require urgent attention in order to stimulate efficient power delivery to the state and other parts of Nigeria. Generally speaking, to achieve efficient electricity supply, there is the need to conduct an audit into the power demand of the entire country just as Lagos State had done. How would Nigeria be able to fast-track its socio-economic growth in the face of dwindling electricity supply? The country would not be able to accelerate its socio-economic growth unless the power challenge is overcome. The top 20 countries of the world like China, which is currently the world’s largest producer of power, South Africa and Mexico, among others, generate power in excess of their demand. What we need in the country today is proper alignment of the entire value chain of power generation, transmission and distribution as well as the development of emergency power system. We also need increased partnership with IPP producers and the creation of necessary institutional frameworks and facilitation of an enabling environment. These would go a long way to accelerate power delivery to Nigerians.


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COUNSEL PENGASSAN has advised investors to build new refineries Adeola Yusuf

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il workers, at the weekend, gave conditions which could make them support the Federal Government’s plan to sell the four refineries. Rising under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), the workers declared that they would only support it when due process and due diligence were done on the national assets. PENGASSAN President, Mr. Babatunde Ogun, who said this also advised private investors to concentrate on establishing their own refineries instead of focusing on buying the stateowned. Reacting to a comment credited to the Nigeria Employers Consultative Association (NECA), PENGASSAN argued that NECA members should build their own refineries instead of struggling to buy the existing ones. Ogun stated that the body was not completely against privatisation but would only support it when the due process and due diligence were done on the national assets. He argued that selling the refineries at their present state would amount to throwing them away to the buyers at give-away prices, adding that no nation could grow while selling its national assets. Ogun said: “Why are NECA members afraid of competi-

Oil workers give fresh conditions to support refineries’ sale tion? Why can’t they go and build their own refineries if they are interested in the downstream sector of the nation’s oil and gas industry? Why are they bent on buying existing refineries knowing full well that these refineries are national assets and that they will do little or nothing to make them work? “We are not totally against privatisation but we are prepared to back government using the Strategic Partnering Model, where core investors shall take the 51 per cent golden stake, while sector unions and workers shall join state governments and others to buy into the remaining 49 per cent.” A few weeks after refining activities in Port Harcourt refinery were grounded, the same fate befell the 36-year-old Warri Refining and Petrochemical Company last week. New Telegraph investigations showed last Thursday that the 125,000 barrels capacity facility became docile due to inavailability of crude for refining. The Port Harcourt refinery is starved of crude, a situation that had already made it to, in just 82 days beginning from last year, lose a cumulative of 17.22 million barrels. General Manager, Public Affairs of NNPC, Dr. Farouk Ibrahim, could not be reached for comment, but a source at the corporation told this newspaper that the refinery is not functional.

Ghana oil output to hit 110,000 bpd in 2014

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utput from Ghana's offshore Jubilee oilfield will hit between 105,000 and 110,000 barrels per day (bpd) in 2014 versus a budgeted 110,000 bpd, the chief executive of Ghana National Petroleum Corporation has said. "It is expected that the field could produce an average of 100,000 barrels, which is budgeted for, but I am sure we will hit about 105,000 to 110,000 barrels in 2014," CEO Alex Mould, told an investment conference in the Ghanaian capital. "The average oil production as of March 25 was about 104,000 barrels. We're currently (at) about 109,000 barrels," he said. Ghana discovered oil in 2007 and began producing in 2010,

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Tuesday, April 15, 2014

adding to confidence over its economy whose GDP growth rose to 11.8 per cent the following year. Production has been hampered in recent months, in part because of delays in the construction of a pipeline to bring gas onshore, which has in turn raised the issue of whether the country should flare gas. Ghana has lifted approximately 20 per cent of the crude produced from the time Jubilee started in December 2010 to this March, Mould said. Tullow, listed on the Ghana Stock Exchange, holds a 35.5 per cent stake in Jubilee. Other stakeholders are Ghana's staterun GNPC with 13.6 per cent, investment group Kosmos Energy , Anadarko Petroleum Corp and Sabre/PetroSA.

Port Harcourt refinery

Fuel scarcity: Marketers to import 55 ship-loads of petrol in April SMOOTH RUNNING Fuel loading continues at NIPCO depot, which was shut down penultimate week.

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ifty ships laden with petroleum products are expected to berth at the Lagos ports between Thursday April 10 and April 30. This is to cushion the effects of fuel scarcity, which became noticeable across the country last month. The “Shipping Position,” a daily publication of the Nigerian Ports Authority (NPA), showed that the fifty ships are expected to berth at the Lagos ports between Thursday, April 10 and April 30. According to the publication, four of the expected vessels will arrive at the ports with petroleum products, while 14 ships are carrying other goods. Meanwhile, fuel loading is going on smoothly at the NIPCO depot, which was shut down by National Union of Petroleum

and Natural Gas (NUPENG). The Federal Government, it would be recalled, lost N1.44 billion to the shutdown of NIPCO’s depot, which has 10 million litres daily loading capacity. NUPENG shut down NIPCO’s loading activities in Apapa, Lagos, on March 24, due to the leadership tussle at the Independent Petroleum Marketers Association of Nigeria (IPMAN). IPMAN is believed to have a stake in NIPCO. Although the facility was re-opened at the weekend after the Presidency intervened. Figures available to New Telegraph showed that the government through the Nigerian National Petroleum Corporation (NNPC) recorded a loss of N1.44 billion to the crisis. NNPC, which loads an average of 50 trucks daily from the NIPCO facility, could not do so throughout the 10 days of closure. While each truck loads an average of 33,000 litres, the corporation could not load a total of 500 trucks for the period of the industrial action at the de-

pot. The official ex-depot price of N87.50 kobo. Meanwhile, the Manager, Corporate Affairs of NIPCO, Lawal Taofeeq, confirmed to this newspaper in a telephone interview that the facility was re-opened penultimate Friday after 10 days. He said that the management of the company had decided to embark on a nonstop 24-hour loading. This measure, Lawal said, was taken based on the continued commitment of the NIPCO’s management to mitigate distribution hiccups, which the 10-day closure might have caused. "Twenty-four-hour loading has commenced in earnest and this will continue till Monday,” he said. This newspaper had exclusively reported that President Goodluck Jonathan intervened in the leadership tussle rocking the IPMAN. The President had ordered the Products Pipelines and Marketing Company (PPMC) to convene a meeting with all the warring parties in a bid to find a way out of the crisis.


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EXHIBIT 1,645litres of Premium Motor Spirit (PMS) and three hoses were recovered from suspects Adeola Yusuf

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hree suspects including a woman have been arrested by men of Nigeria Security and Civil Defence Corps (NSCDC) in Abeokuta, the Ogun State capital. The suspects, Rahmon Yusuf, male, 37, Nwoke Chi, male 34 and Sekinat Yusuf, female, 32, were apprehended in their house at Likosi village, via Ogijo, Ogun State, which allegedly serves as distribution centre where stolen petroleum products are received, stored and supplied to their customers at cheap prices. A statement by Public Relations Officer (PRO), Ogun State Command of the NSCDC, Mr. Kareem Olanrewaju, noted that the large volume of petroleum products in kegs, drums and even in water-pots were found in the possession of the suspects. “According to the female suspect, their customers include individuals who use the products to power generators, okada riders and even motorist,” the statement read. In his own statement, Rahmon Yusuf, according to Olanrewaju, said that regular supply of the products was guaranteed through their collaborators who are alleged members of a security agency. These people, it was alleged, sometime connive with some officials of NNPC. He added that he has been in the business for quite sometime

Engineers fixing vandalised points on a crude pipeline in the Niger Delta recently.

How NSCDC nabbed three suspected pipeline vandals with Nwoke who often assisted to serve their customers. While explaining the incident, Olanrewaju said that the Corps' anti-vandal team has been on the trail of the suspects since December, 2013. “The team had gone to the area in search of the suspects but unfortunately they managed to escape while exhibits recovered were thereafter handed over to NNPC. Since then, we have beamed our search light on the area by maintaining regular surveillance patrol around the place. This did not pay off until yesterday when we were able to trap both suspects and recov-

ered a number of exhibits,” he said. Kareem stressed further that commandant Aboluwoye Akinwande of Ogun State command has ordered a comprehensive investigation of the case. He argued that there are many knots that needed to be untied. “The fact that the location of their resident wherein large volume of petroleum products were found is very close to NNPC depot at Mosinmi, and the alleged vandals' claim to be working with some security operatives and NNPC officials is not something that should be swept under the carpet,” he said.

Oil spills, threaten Niger Delta ecosystem –Presidency ORDER EFO has urged oil producing firms to stem spillage Adeola Yusuf

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he incessant spillage constitutes threat to the entire ecosystem within the oil producing region and beyond, the Presidency said at the weekend. The Ecological Fund Office, EFO, in the Presidency, which said this also urged oil producing companies to protect the environment from oil spillage.

It noted that incessant spillage constitutes threat to the entire ecosystem within the oil producing region and beyond. Deputy Director of Press in the office, Tolu Makinde who said this stressed that oil spill had a lot of negative socio-economic and environmental effects and that the responsibility of hat cleaning up the polluted environment was a statutory issue that involved experts. According to him, the National Oil Spill Detection and Response Agency, NOSDRA, is the only organisation that has the expertise to ensure safe environment within the oil pro-

ducing communities. “It is NOSDRA that has the professional capacity to supervise the clean up oil spill whenever they occur; to ensure that the oil and gas producing environment is safe and clean for habitation. “The agency has the mandate to regulate oil production and its effect on the environment and to ensure that polluters undertake their responsibility too. “Some of the cases of spillage are caused by sabotage; in this case, the National Emergency Management Agency (NEMA) comes in.

“The suspects are giving very useful information which we have started working on," stressing that more suspects are still likely to be arrested. “Exhibits recovered from the suspects include 1,645litres of premium motor spirit(PMS),

one long hose, two short hose, two mobile phones and N75,000 cash. Recently, NSCDC have intensified patrol in all areas prone to vandalism in Ogun State to ensure vandals activities are reduced. "We are committed to fight ingvandals to standstill adding that we shall monster all resources available to reduce the menace of vandalism to the barest minimum." No amount of pressure will make civil defence to succumb," he reiterated.

Congo Republic seeks to revive oilfields

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epublic of Congo's state oil company SNPC said it hopes to develop a strategy to pump more oil from fields under-exploited by foreign investors as part of a plan to revive oil production. Societe Nationale des Petroles du Congo (SNPC) said in a statement in Congolese newspaper, La Semaine Africaine, on Friday, that it had completed two geological surveys since December in the MengoKundji-Bindi (MKB) permit to assess their potential. "SNPC is using hydraulic fracturing on the Kundji field allowing improved production of compact reserves, which constitute the oil reserves on the MKB permit. It will use the same technique on the Mengo field," the announcement stated. The Kundji field is currently being exploited by SNPC in collaboration with Ivorian state oil company, Petroci and Canada's Orion Oil and Gas, SNPC said. It was previously abandoned by now-dissolved French oil com-

pany, Elf. The Mengo field was similarly abandoned by Elf in the 1990s. SNPC also carried out a survey of the Mayombe licence, not currently being exploited, to assess its potential for drilling. Oil production in the Republic of Congo has been in decline for years due to maturing fields and is down from around 310,000 bpd in 2010, according to data from the U.S. Energy Information Administration. The country projects output of 242,000 barrels per day this year, up slightly from 242,000 bpd in 2013. Oil revenues make up more than 70 percent of the state's budget. New discoveries have piqued investor interest and Congo plans a licensing round this year for around 10 onshore and offshore oil blocks. The region is thought to contain oil concealed below a layer of salt on the ocean bed and some expect reserves comparable to the billions of barrels found in fields off Brazil.


32 BUSINESS | ENERGY SKYROCKET Proven oil reserves in the United States (US) jumped in 2012 to the highest level since 1976

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he shale exploration has boosted oil reserves in the United States (US) to the highest in 36 years, the Energy Information Administration said at the weekend. Proven oil and condensate reserves jumped 15.4 per cent in 2012 to 33 billion barrels, Reuters reported. Companies booked 5.4 billion barrels of new reserves through discoveries, the EIA said. Various revisions and adjustments added another 1.5 billion

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US oil reserves hit 36-year high barrels, while the extraction of 2.4 billion barrels brought the net addition to reserves to 4.5 billion barrels, it added. Reserves in the Eagle Ford shale play in Texas, at 3.4 billion barrels, surpassed that of North Dakota’s Bakken play, which had 3.2 billion barrels. In 2011 Bakken held 2.0 billion barrels and Eagle Ford 1.6 billion barrels. “Geographically, the largest total oil discoveries in 2012 were from Texas, North Dakota and Oklahoma. Texas led by a considerable margin, with discoveries of 3.0 billion barrels

(mostly in the Eagle Ford play),” the EIA said. “North Dakota added nearly 1 billion barrels, marking that state’s fourth consecutive year as a major source of total discoveries,” the report said. North Dakota ranks behind only the Gulf of Mexico and Texas as the biggest producing US regions. Historically, Alaska and California have placed ahead of North Dakota in reserves. US oil reserves are now at their highest since 1976, but the country still stands just outside the world’s top 10 in terms of

reserves, according to Reuters. Even after the increase, it holds less than half as much crude as Russia, which ranked number eight in 2012 with 87 billion barrels, according to BP’s benchmark Statistic Review of World Energy published last year. The world’s five largest resource-holders – which include Opec’s biggest members plus Canada – hold over 1 trillion barrels, according to the review. US gas production, meanwhile, remained at record highs, thanks to the heavy drilling of the previous five years. But re-

serves fell 26 trillion cubic feet, or 7.5 per cent, to 322.7 Tcf, as oversupply depressed prices, making drilling uneconomic. As gas prices halved and dropped to a 10-year low below $2 per million British thermal units, investment in gas drilling fell sharply and the gas rig count plummeted from record highs. Proven reserves in the Marcellus shale formation in the Appalachian basin in Pennsylvania and West Virginia surpassed those in the Barnett shale of Texas to become the largest in the country, the EIA said.

Crude nears six-week high

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Oil rig

HIGH COSTS Shell blames decision to shelve project on rising costs

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oyal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production. Shell said on Friday that it would postpone a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gas field, despite the objections of a key licence partner. The decision will not be reevaluated for several years, until new technology and reservoir information become available, Shell said. Costs have soared in Norway's vast offshore oil sector over the past decade, and oil

Shell drops Novel Norwegian subsea gas project firms are cancelling or delaying major developments to save on costs and earn more cash for dividends. Although Shell gave no cost estimate, a subsea compression project by Statoil at the Aasgard field is estimated to cost 15 billion crowns ($2.5 billion). Ormen Lange is more complex because waters are deeper and there would be no platform nearby to supply power and other equipment. "The oil and gas industry has a cost challenge," Odin Estensen, chairman of the Ormen Lange Management Committee, said in a statement. "This, in combination with the maturity and complexity of the concepts and the production volume uncertainty, makes the

project no longer economically feasible." Shell said it would not build a platform either given the costs and its new analysis shows that compression was not time-critical to the ultimate recovery of the field. Petoro, the government's holding firm and the biggest shareholder in the licence, objected to the postponement, saying the project had already cost "several billions of Norwegian crowns". The move shows that "the major oil companies now are going meticulously through their portfolios and cutting the most marginal projects to limit their investment level", Haakon Amundsen, an analyst at ABG Sundal Collier, said.

"There have been six to seven similar delays now, so this would not come as a shock to anyone. This is a gas project with new technology and production many years away, sometime in the future, so it is obviously vulnerable to high costs," he added. Statoil has already delayed its $15.5 billion Arctic Johan Castberg projects and pushed back by one year the start-up date of Johan Sverdrup, Norway's biggest oil find in decades. Ormen Lange produces an equivalent of a fifth of Britain's gas needs, and will eventually lose its natural pressure. Subsea compression was seen as a cheaper alternative to building a platform.

rude rose to near sixweek high at the weekend, steered by stronger gasoline demand and a positive consumer confidence report, but gains were capped by profit taking and a declining demand outlook. The International Energy Agency lowered its global demand forecast for 2014 due to expectations that more Libyan crude will reach the market next week, pushing Brent prices lower. US crude moved in tandem with gasoline prices, which surged early in the session due to government data released mid-week that showed a substantial draw on stockpiles, signaling robust demand before the start of summer driving season. Data showing US consumer sentiment rose to a nine-month high in April also provided support and pushed the American benchmark's price discount to Brent to its narrowest since mid-September. Brent's price slipped after Russia backed off threats it made Thursday to disrupt Ukraine's natural gas supply, and therefore Europe's, unless Kiev paid its bill. Russian President Vladimir Putin guaranteed Friday "fulfillment of all our obligations to our European consumers." "The reason we had a late day sell off is book squaring," said Phil Thompson, director of Mobius Risk Group in Houston. "Once U.S. crude got up to $104.50 there was profit taking, and RBOB had correlated moves with (US crude) all day" triggering a sell off in gasoline, as well, Thompson said.


PROPERTY&ENVIRONMENT PAGE 33, Tuesday, APRIL 15, 2014

Disputed Ilubirin project

DISPUTE Professionals call for truce between Federal and Lagos State goverments. Dayo Ayeyemi

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he current face-off between the federal and Lagos State governments over the ongoing housing estate development on the Ilubirin reclaimed land has continued to generate reactions from stakeholders in the sector. While some of them described the confrontation between the two authorities as ‘most unfortunate,’ others are insisting that due process must be followed. They expressed worries that if the conflict continues, people would be at the receiving end as well as the private housing developer involved in the project. Besides, they said that the situation portends a discouraging omen for would-be private investors in housing development in Nigeria, calling for immediate resolution of the dispute. The confrontation started sometime last month when the Minister of Defence, Mr Musiliu Obanikoro, was said to have allegedly ‘invaded’ the site of the proposed Lagos State’s Ilubirin Housing Estate, located along the Osborne shore Waterfront area in Ikoyi, and ordered workers to stop work. Gover nor Babatunde Fashola had told the audience during the event marking his 2,500 days in office at the Lagos Television ground, Ikeja, Lagos, that the Federal Government had stopped the Ilubirin Fore-

Ilubirin project: Experts task FG, Lagos on immediate resolution of face-off shore Housing Project. According to the governor, his administration had sandfilled the area to build about 1,800 housing units under the Lagos Homes Ownership Mortgage Scheme (HOMS), alleging that the land was invaded by soldiers who erected a signboard that the land belonged to the Federal Government in a bid to stop the state government’s dream of an housing estate for the area. “The Ilubirin Foreshore land where we are about to construct our estate was taken over on Saturday by soldiers. This is what we get for giving Jonathan 1.2 million votes from Lagos,” he lamented. According to Fashola, the land belongs to the state government and was acquired by the military administration of Mobolaji Johnson for the state several years ago. But, defending his action, the Minister of State for Defence, Mr. Musiliu Obanikoro, said that the original reclamation of the lagoon that created the Ilubirin housing site was illegal, adding that the Nigerian Inland Waterway Act of 1997, Sections 10, 11, 12 and 13 made this activity illegal without the approved consent of the Nigerian Inland Waterway Authority. He expressed worry over the safety of the project being on a reclaimed land, wondering if the state government has a comprehensive Environmental Impact Assessment (EIA) with stakeholders’ approval before

Fashola

Obanikoro

commencing the project. However, to housing experts who spoke with the New Telegraph, the housing project designed to provide accommodation for 1,800 families has been stalled. Immediate President of the Nigerian Institute of Building (NIOB), Mr. Chucks Omeife, described the ongoing face-off as “most unfortunate.” He pointed out that accommodation seekers and the private developer involved in the project would be at the receiving end. He said: “The people are at the receiving end as well as the private housing developer involved because some planning would have been made and financial projection and commitment would have been put in place with interest on fund already counting. “What this portends is a discouraging omen for private investors in housing in Nigeria.”

He advised that the government at the federal and state levels must come together to resolve the issue amicably, knowing the legal boundaries of each. “It is not an issue of muscle flexing as the long term effects could be discouraging. It is important to determine legally where a state power or right to reclaim land from the sea for development purposes starts and ends and where the power of the federal to manage all coastal lands on behalf of the people starts and ends too,” Omeife stated. He wants the two authorities to use the occasion to resolve the issue surrounding redevelopment of the Federal Secretariat complex, Ikoyi, into residential apartments in the interest of the people. He said: “The issue like the Federal Secretariat’s concession must be taken together and resolved through negotiation and interest of each

stakeholder. A legal solution will cause a lot of suffering to the people and unnecessary delay. On the part of the developer if one is appointed, it is a very big loss financially and in goodwill. Former President of the Association of Professional Bodies of Nigeria (APBN), Mr. Bunmi Ajayi, a town planner, said it was a known truth that home seekers the ones to suffer at the end of the faceoff, but advised that the state government should obey the law of the land by following the due process. According to him, the technical question should be whether the state government obeyed the law before starting the construction. He noted that Decree 52 made it clear that coastal land belongs to the Federal Government, saying that whosoever wants to make use of the land would have to revert to it. “Let us obey the law; let us see the position of the law. If you want to use the land, tell the owner as Decree 52 has made it clear that all coastal land belongs to the Federal Government. If you want to use it, even before sandfilling, tell the Federal Government about it. If you continue to make the noise, this will not make the difference,” he said. He urged Lagos State government to set up a committee that will liaise with the Federal Government in order to resolve the matter amicably.


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property & ENVIRONMENT

Sanctity of Truth

Tuesday, April 15, 2014

How I got my first client as an estate surveyor –Akinwunmi Mr. Lekan Akinwunmi, a young professional, is the Publicity Secretary of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos chapter. In this interview with Dayo Ayeyemi, he reveals how he started his firm, advising upcoming professionals to be diligent.

Akinwunmi

What motivated you into setting up your firm early? One would have thought it through before coming out. When I was with Messrs Tunde Adegbimo and Company, he encouraged the young ones to share their ideas with him. He always buys into an idea that you want to start early; so with that kind of encouragement, the boldness to come out early was rekindled. My boss actually supported me by encouraging me to do what I needed to do on time so that age will not catch up with me. He said it is bad to continue to serve somebody when you are fully aware that age is no longer on your side. He used his own experience as an example, saying if he had started earlier, he would have done more than what he has been able to achieve. What was your first day in office like? It was not funny at all because as I was coming in, I met the Head of Practice of the firm who did not see me as a first timer; rather he gave me an assignment to be carried out immediately. Another challenge was when I was to have a meeting with some tenants for the first time. It was not funny as my boss just gave

have been coming since then.

Everything is not about money; money will definitely come but be hardworking, study to gain knowledge and develop the right attitude towards your clients me the brief and asked me to meet them and come back with a report. I was afraid but eventually carried out the assignment successfully. I summoned courage because when I was in school, I was taught many subjects, including psychology, physiology, sociology and the rest. So I had to apply these subjects in practical terms in order to get the desired results. How did you get your first job as an estate surveyors’ firm? My first job was property valuation which I got through a friend. The beauty of it was that the client was happy after the execution of the job. More jobs

Are there any regrets or setback you want to share? If you are a very hardworking guy while serving somebody, you will not have any challenge working for yourself. When I was working for Adejumo and Company, there wasn’t any job that I did not do or know. I worked round the company. The only thing is that now, the bucks stop at my desk. Then, I was working with minimum supervision, now that I am working for myself, it becomes no challenge. What will be your advice to upcoming professionals? I want to tell them that they should not look at the monetary aspect now. When I was in a company for my industrial attachment (IT), my boss used to give me N200.00; but I cherished his words. He would tell you that if you are hardworking, you will get what you want. This is the exact advice I am preaching to the young ones. Everything is not about money; money will definitely come but be hardworking, study to gain knowledge and develop the right attitude towards your clients.

Lagos Housing Fair to focus on safety, building code Dayo Ayeyemi

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ne of the issues the forthcoming Lagos Housing Fair will bring to the fore is the need for the National Assembly (NASS) to expedite action on the passage of the draft bill on National Building Code (NBC) into law. Reason being that the promoters of the annual fair, Messrs Beachland Resources Limited and Lagos State Radio Service, have centred the theme of the event on “Safety in Housing Delivery”, which is one of the key elements of the National Building Code. The Federal Executive Council (FEC) had approved the draft bill on National Building Code (NBC) almost a decade ago and subsequently

forwarded it to the National Assembly for consideration, the bill is yet to be passed into law. The bill passed through the second reading and, since then, nothing has been heard about it again. Many professionals in the construction and housing industry have blamed absence of a National Building Code for the incessant collapse of buildings being witnessed in major cities across the nation, with Lagos State taking the lead. The absence of the code is regarded as a big ‘minus’ for the construction industry. The National Building Code (NBC) is the document that will regulate the conduct and operations of professionals and stakeholders in the construction industry. It is some sort of guidelines for those who oper-

ate in the built environment. Briefing journalists on the choice of the theme for this year’s Lagos Housing Fair, its Chairman, Mr. Moses Ogunleye, said that the decision was hinged on the need to beam searchlight on safety as it relates to the housing sector. Ogunleye disclosed that

the forum will present opportunities for manufacturers of building materials, investors, researchers and buyers to meet and interact, adding that 55 exhibitors have already signified their intention to be part of the fair He said: “Specifically, we intend to direct the nation’s

One of the scenes of collapsed buildings in Lagos

attention to consideration for safety in all aspect of housing, from conception to design and construction. Besides, we are focusing on policy matters, building design, material usage/application, construction methodology, as well as building and planning laws.” He hinted that the week-long fair will take place at De Blue Roof Pavilion of Lagos State Television, Ikeja, from April 28. Ogunleye pointed out the key element of the NBC was safety at design, construction and post construction stages, noting that many stakeholders have continued to deviate from the recommendation of the code. “Construction activities are carried out without due diligence for matters of safety even as related to construction workers,” he said.


property & ENVIRONMENT

Sanctity of Truth

Tuesday, April 15, 2014

Landscaping:

Make your home a design statement Are you thinking of how to make your walls and fences an essential design statement in order to enhance your property? Expert@ www.about.com says there are so many variables in do-it-yourself landscaping, such as budget, skills, the climate of your region, your personal design tastes, how you’ll be using your yard. The following guides will help you in achieving your dream: Provide your landscaping with year-round interest: Do-it-yourself landscaping for four-season interest begins with a well-researched plantselection plan. The goal is to have flowering trees and/or shrubs throughout spring and summer, fall foliage in autumn and good structure in winter. Layer your flower beds when planting: Layer your flower borders in three rows: a back row (facing north, preferably) with the tallest plants, a middle row with the next tallest, and a front row composed of your shortest plants. Use repetition, both in the planting bed and elsewhere in your yard, to provide unity. Use evergreens and other foliage plants for continuity: Don’t forget evergreens and other plants prized as much or more for their foliage as for their flowers. The deciduous specimens provide more colour and variety, while the evergreens will provide continuity. Use annuals to supplement perennial colour: Perennial flowers are wonderful for your planting beds, but they bloom for only so long. You may have perennials blooming in your bed in May, then nothing until July. Incorporating annuals into a do-it-yourself landscaping plan will “plug the gaps,” giving you continuous colour in the

yard. Use my picture gallery to find ideas for your colour schemes. Incorporate hardscape into your landscape design: Don’t restrict your do-it-yourself landscaping to plants. Include hardscape features, too. Like evergreens, they provide structure in winter and much more than that. Walls and fences make an essential design statement, as they frame your property. Decks and arbors are other important hardscape features. Patios and decks provide transitions from indoors to outdoors. Install water features: Good landscape designs are anchored by focal points. One of the hottest trends is to use water features as focal points. This is one trend with “sound” reasoning behind it: water features are not only visually appealing, but emit soothing sounds. Using form and texture to your advantage: Flowers are great, but don’t forget the characteristics of a plant’s branching pattern and foliage. In landscape design, varying form and texture is one way to spice up a yard with diversity. Evergreen conifers, while lacking flowers altogether, nonetheless have foliage that offers a myriad of different forms and textures. While browsing these do-it-yourself landscaping tips, you’ll discover many ways to enhance the beauty of your yard.

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36 property & ENVIRONMENT

Sanctity of Truth

Tuesday, April 15, 2014

ESVANBON plans to curb activities of quacks …Plans to double estate surveyors in 2016 Stories by Dayo ayeyemi

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n a move to substantially reduce the nefarious activities of quacks in the industry, the Estate Surveyors and Valuers Registration Board of Nigeria (ESVANBON), said it has put requisite machinery in place, in collaboration with the relevant law enforcement agencies, to check the spread of pseudo practice and bring to book culprits found guilty of the offence. Disclosing this during the induction of 163 new members at the weekend, Chairman of ESVANBON, Mr. Williams Odudu, stated that part of the measures to check quackery in the profession was the plan to register many more qualified estate surveyors and valuers in the country. He said: “We are admitting 163 persons to the register of the board. This will bring the total registered estate surveyors and valuers in the country to 3395.” Odudu explained that in order to meet with the rapidly growing population of Nigeria, his plan is to double the existing population of registered

estate surveyors and valuers in the country before the expiration of his tenure in 2016. He cautioned the newly inducted members not to abuse the stamps, seals and certificates being given them, saying they remained the properties of the board and it has the right to withdraw them when misused. According to him, the rule and regulations of the board should be their guide, adding that violation of the regulations will not be tolerated. He said: “The ethics and ethos of the profession should be carefully guarded by all and sundry. May I emphasise at this juncture that integrity is the hallmark of success of every professional, so it should be consciously protected with the fear of God. An elder in the profession, Mr. Ayoola Dosunmu, urged the inductees to be professional improvers and not destroyers, to always ensure professional dignity, dexterity, honesty, nobility and probity in their practice. He said: “As you receive your seal, stamp and certificate today, they will serve as

tools that will be used to improve your profession.” President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), James Omeru, tasked the inductees on the need to upgrade their knowledge of the profession in order to be able to render world-class technologicalbased services to the people and clients. Omeru, who was represent-

Stakeholders express worry over lacklustre attitude towards maintenance

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aphazard ways of doing things without considering their safety has been described as one of the banes of Nigerian society. Unlike the general belief that safety is only about the oil and gas sector, it permeates every part of daily living, according to experts. Perturbed by the way Nigerians throw caution to the wind at work places, during building construction and on the road, President of the Nigeria Chapter of the American Society of Safety Engineers (ASSE), Mr. Jeff ‘Vwede Obahor, disclosed that safety as a culture did not exist in Nigeria. Absence of safety consciousness, he said, has resulted to a lot of environmental abuses in the society. Briefing newsmen about ASSE Nigeria Professional Conference and Exhibition

scheduled for between May 21 and 23, 2014, Obahor said that rather than collaborating to push the issue of safety in the front burner, everybody in Nigeria works in isolation and at cross purposes. He bemoaned Nigerians attitude towards safety, saying that rather than seeing safety as everybody business, they were not security compliant. He said: “We make a lot of mistakes because of ignorance. In homes, people design their floor with smooth surface tiles and if water pour on the floor, it becomes slippery.” The safety professional is of the opinion that there should be enough collaboration and advocacy about safety for people to embrace it everywhere. “Let every construction companies show us their safety consultants on site so that we can advise them because we can only advise through advocacy. Every construction companies should have a safety consultant,” he said. Obahor disclosed that the purpose of the PDC 2014 is to bring safety from high pedes-

about, saying it is not a crime to seek knowledge. While congratulating ESVANBON on regular conduct of new members, the NIESV president stated that looking at the ratio of estate surveyors and valuers to the population of 160 million Nigerians, it will be essential to register more members in order to meet the need of those who require the services of professionals.

L-R: Obaro of Kabba land, Oba Michael Olabayo; Minister of Work, Mike Onolomemen, Kogi State Governor, Capt. Idris Wada and Senator Smart Adeyemi, during the flag-off of Ilorin-Kabba-Obajana Road at Lokoja.

Nigerians lack safety culture –ASSE boss SECURITY

ed by the first Vice President of the institution, Dr. Joshua Patunola-Ajayi, emphasised that practicing estate surveyors and valuers could not afford to perform less than the set standards, hence the need for training and retraining. He urged the newly inducted members to ensure that they follow and seek opinions of others in matter that they have little or no knowledge

tal it has been to Nigerians daily lives, saying that “when renting or constructing a house, you should ask if the house is safe.” He said: “Our primary objective is to give voice to safety in our immediate environment and round the world to prevent avoidable accidents to people, assets and the environment.” He disclosed that ASSE as an association has been in existence globally for over 102 years and that an annual Nigeria chapter safety professionals development conference and exhibition is the first of its kind and a key strategy of ASSE global to provide professional members the opportunity to form beneficial contacts at face to face events. The conference aims to bring together all safety professionals and captain of industries under one roof in Nigeria with a common goal of giving voice to safety. The event will further provide opportunities for African professionals to update their knowledge on safety and related products specific to Africa.

Online alert system to protect forest worldwide launched T he World Resources Institute (WRI), Google, the United Nations Environment Programme (UNEP) and a group of over 40 partners, at the weekend, launched the Global Forest Watch (GFW), a dynamic online forest monitoring and alert system that empowers people everywhere to better manage forests. For the first time, Global Forest Watch unites the latest satellite technology, open data, and crowdsourcing to guarantee access to timely and reliable information about forests. President and CEO, WRI, Dr. Andrew Steer, said: “Businesses, governments and communities desperately want better information about forests. Now, they have it. Global Forest Watch is a near-real time monitoring platform that will fundamentally change the way people and businesses manage forests.” According to data from the University of Maryland and Google, the world lost 2.3 million square kilometers (230 million hectares) of tree cover

from 2000 to 2012 - equivalent to 50 soccer fields of forest lost every minute of every day for 12 years. The countries with the highest tree cover loss are Russia, Brazil, Canada, United States and Indonesia. “Managing the world’s forest resources is today both a local and global undertaking and technology has provided Global Forest Watch with an unprecedented opportunity to connect not only information and data but people, whether they be forest managers, businesses and private sector, or consumers across the globe. This is a great example of a community coming together and providing the world with a truly ground-breaking and pioneering product. Hopefully in a few years’ time we will be able to monitor the impact and the results in terms of what actually happens on the ground – that will be both a litmus test and I think the greatest affirmation that the time for this idea had come,” said Achim Steiner, UN Under Secretary-General and UNEP Executive Director.


Multiple designations, bane of Nigerian airlines p–38

Sanctity of Truth

Tuesday, April 15, 2014

BUSINESS 37

Agencies' merger puts Nigeria’s aviation on the spot Wole Shadare

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t was heart breaking for many. For others, it was a confirmation that the aviation industry in Nigeria is destined to be killed. The news of the decision by the Federal Government to merge the Nigerian Civil Aviation Authority (NCAA), the Nigerian Airspace Management Agency (NAMA) and the Nigerian Meteorological agency (NIMET) is not only ill-timed but unnecessary. Government, while accepting the Steve Orosanye’s committee recommendation to merge the agencies, defended its action that the decision was taken to cut overhead of running the agencies; one that puts a lot of holes in their pocket. Inasmuch as one does not want to blame Orosanye for his committee’s actions, the larger blame should go to ‘experts’ who were said to have been consulted. They were said to have endorsed the action for their alleged selfishness that would put enormous power in their hands. Top officials fingers burnt New Telegraph sighted a document, which showed how a former top official in the NCAA endorsed the merger of the agencies. A former minister of aviation was said to have been misled into endorsing the

idea less than three months after her assumption of duties. There were indications that the former minister, after realising the danger of their action, is clandestinely lobbying the Presidency in conjunction with pressure groups in the sector to rescind the decision to save the industry. Experts are concerned that Nigeria is gradually alienating itself from international aviation conventions as enshrined in the statute book of the International Civil Aviation Organisation (ICAO), the global aviation regulatory body. The sector is gradually tilting towards self-destruct. On the eve of the visit of a four-man team from the United States Federal Aviation Administration (FAA) to Nigeria to audit the nation’s aviation industry, government caused a tsunami by sacking, in one fell swoop, the Director General of NCAA, Capt. Folayele Akinkuotu, managing directors of NAMA, Mr. Nnamdi Udoh, and that of the Federal Airports Authority of Nigeria (FAAN), George Uriesi and the Rector, Nigeria College of Aviation Technology (NCAT), Capt. Chinyere Kalu. Government did not give reason for their ‘unexpected’ sack. This was a clear violation of the NCAA’s autonomy and one that both the American FAA and ICAO frown at. These two

bodies had maintained that the aviation regulatory bodies must be autonomous to regulate the aviation industry and to safeguard aviation in any country in the world. In a move that shocked many, Nigeria decided to go backward to bundle these agencies, a system that never worked before now and one that compromised air safety 19 years ago. In fact, many African nations were in Nigeria to copy the country’s model, just as they had set up plans to thread the pact by unbundling their agencies to guarantee quality airspace management and good oversight of the sector in their countries. In the globe today, the list of Air Navigation Service Provider (ANSP) is fast growing and as recommended by the ICAO. ICAO contracting states are encouraged to delineate the functions of ANS from other services provision. Global regulatory body’s verdict According to ICAO, "separation of provision from regulation is consistent with princi-

The sector is gradually tilting towards selfdestruct

ples of good governance; the regulatory oversight function must be seen as independent and transparent.” ICAO, which is made up of 197 countries states that over 110 have complied and moved on with the de-merger of agencies. Germany, United Kingdom, France, Russia, Ireland, Canada and Ukraine are some of the countries that have de-merged.

then Federal Civil Aviation Authority (FCAA) as per the above ICAO quoted regulation. "Even United States of America that we are using as one of the strong point used by the committee are in the process of de-merging. The process is currently in the Congress to pass the Act on the NextGen regulation that will separate the agencies from each other."

Expert’s perspective Executive chairman of AON, Capt. Nogie Meggison, told journalists last Friday that autonomy for the air navigation services provider and its separation from the regulatory oversight function was well established in ICAO's guidance material. He stated that it was not right to have the NCAA as the referee and the player at the same time, arguing that the NCAA has been statutorily established in compliance with ICAO set standards and practices. "We believe that the information given to the committee set up in 2011 to make that decision is obviously now obsolete and outdated as per ICAO regulation, which Nigeria is not only a signatory to, but also the first African ICAO President today is a Nigerian who headed the committee and who in 1999 separated and demurred the agencies from the

Other jurisdictions Some of the world renowned ANSPs are Aeronautical Radio of Thailand (AEROTHAI), Aeropuerto Espanoles Navegacion Aerea (AENA, Spain), Air Navigation Services of the Czech Republic (ANS CR), Agence pour la Securite de la Navigation Aerienne en Afrique et Madagascar (ASECNA), Air Traffic and Navigation Services South Africa (ATNS), Airports Authority of India, Air Services Australia and NAV Canada. Others are NAV Portugal, Navair, Denmark, NAMA, Nigeria, CAA, Uganda, Civil Aviation Department, Hong Kong, Deutsche Flugsicherung, Germany, Direction des Services de la Navigation Aerienne. Also included are France, Federal Aviation Navigation Services, Russia, Finavia, Finland, Hungarocontrol, Hungary, among over 150 other C O N T I N U E D O N PA G E 3 8


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Tuesday, April 15, 2014

WITH

IATA seeks stronger laws AIR RAGE for unruly passengers Multiple designations, NEW RULES

The Tokyo convention provides legal frame work for dealing with unruly travellers Wole Shadare

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he International Air Transport Association (IATA) has called on governments to ratify important changes to the Tokyo Convention 1963, which were agreed at a diplomatic conference in Montreal penultimate week. The Tokyo Convention provides the legal framework for dealing with passengers whose unruly or disruptive behavior leads to physical assault or poses a threat to the safety of a flight. The Director-General of

IATA, Tony Tyler said: "This agreement is good news for everybody who flies - passengers and crew alike. The changes, along with the measures already being taken by airlines, will provide an effective deterrent for unacceptable behavior on board aircraft. But governments must now follow-up on the success of the diplomatic conference and ratify the new protocol. Some 100 governments attended the diplomatic conference that agreed on the changes, which will come into force when 22 states ratify the protocol to the Tokyo Convention. The International Civil Aviation Organisation (ICAO) has driven the process through from initial proposal to a new treaty in five years, a relatively short length of time for a new protocol to be agreed.

By extending the jurisdiction from the country of aircraft registration to the destination country, the protocol closes a loophole, which allowed many serious offences to escape legal action. The agreed changes give greater clarity to the definition of unruly behavior (such as including the threat of or actual physical assault, or refusal to follow safetyrelated instructions). There are also new provisions to deal with the recovery of significant costs arising from unruly behavior. "Unruly passengers are a very small minority. But unacceptable behavior on board an aircraft can have serious consequences for the safety of all on board. The goal is to effectively deter such behavior and ensure safe flights for all by making the consequences of such behavior clear and enforceable," said Tyler.

L-R: NAHCO Aviance Chairman, Mallam Suleiman Yahyah; Chair Prof. Ummu Jalingo, Vice Chancellor of Bayero University, Kano (BUK), Prof. Abubakar Rasheed and Managing Director of Nahco Aviance, Mr. Kayode Oluwasegun-Ojo, at the endowment of Professorial Chair in Aviation Economics by NAHCO Aviance at the university…. recently

Agencies' merger puts Nigeria’s aviation on the spot C O N T I N U E D F R O M PA G E 3 7

privatised for efficiency.

nations having their separate air navigation services. A top official of one of the agencies told this newspaper that air navigation services and airports are two of the three major components (the third being aircraft operations), which form the air transport system. Not a few believed that FAAN should have been long privatised because of alleged inefficiency in the agency in securing Nigeria’s airports and provision of infrastructure at the nation’s airports. Experts were of the opinion that most airports like the London Heathrow or Tambo and other airports across the globe had been

Job cuts To them, the agency lacks expertise to generate more revenue and guarantee safety at most of the aerodromes. There is also the fear of imminent job losses. Many of the workers of NAMA, who spoke to this newspaper last Friday, said that the merger would definitely come with job losses, stressing that among those to be shown the way out or transferred to other departments would be the chief executives of the agencies, which are going to be classified as defunct. The development is capable of exposing the anomalies in

the recent recruitment of personnel by the former Minister of Aviation, Stella Oduah and many other past ministers without recourse to the due process. There are people that were reportedly engaged a couple of years ago, far exceeding what each of the agencies could accommodate, thereby leading to huge overhead cost. The FCAA was established in 1990, but by 1995 it was dissolved by a former Aviation Minister, Nsikak Uduok. The FCAA’s functions were transferred to the ministry. This action was condemned and in 1999 after the National Civil Aviation Policy Workshop, NAMA and NCAA were created.

Wole Shadare

bane of Nigerian airlines

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he operations of foreign airlines to Nigeria have been on the increase and it keeps rising. Over 30 international carriers are already doing business while many more could join the fray as they have signified their intention to take part in the huge market occasioned by Nigeria's population- over 160 million people. Nigeria has Bilateral Air Services Agreements (BASA) with Turkey, Israel, Brazil and many other nations. Although, these nations are yet to operate to Nigeria, there are indications that some of them could activate the pact to begin to fly to Nigeria. The irony of it all is that no Nigerian airline has the capacity to operate or reciprocate these pacts that Nigeria keeps signing with foreign countries. Save for Arik which has somehow reduced the shame and huge capital flights from Nigeria occasioned by operations of foreign airlines, the Nigerian flag carrier airline does not have the capacity to reciprocate these routes aside the lucrative London, Johannesburg and New York routes it flies. Not many condemned the ‘Open Skies’ pact Nigeria signed with the United States of America in 2000. It came at a time US airlines were ready and had consolidated, whereas, Nigeria no single carrier to fly to the America. Today, that is history as both nations had since activated the pact, which makes them to designate as many carriers as possible to do business in each other’s territory. Already, two American airlines, Delta and United are here while Arik is our own flag carrier to New York. For the BASA, it is a one sided one partly because we do not have airlines to compete with European carriers likes British Airway, Turkish, Virgin Atlantic Airways, Lufthansa, Air France-KLM, Iberia among others. The inability to compete makes these foreign airlines to pay what is generally known as ‘royalty’. These royalties is what is known as BASA funds. It not clear what Nigeria has earned over the years from

these pacts. Nobody knows how much is in the coffers as the former Minister of Aviation and the Nigerian Civil Aviation Authority (NCAA) kept churning out conflicting figures ranging between $65 million and $75 million. That is not the crux of this article. The multiple designations given to foreign airlines is one that has added to the problems of the local airlines. This is totally against the tenets of BASA. For example Emirates has continued to expand its operations in Nigeria with 21 weekly frequencies out of Nigeria. The airline has been handed the nod to add Kano and Abuja to its high frequencies. Same goes for Air France, Lufthansa and Ethiopia Airways among other airlines. The case of Ethiopian is more pathetic as the immediate past Minister of Aviation, Stella Oduah, practically went on her kneels to beg the airline to commence Enugu route. This is a case of a minister not caring about the domestic airlines. May be she had scores to settle with local carriers. What was expected of her was for her to compel airlines seeking more routes in Nigeria to partner with local airlines and not the opening of your market to ‘predators’. What government needs is careful policy that would make Nigerian airlines to be in business. What is Nigeria’s aviation policy on domestic carriers? You don’t expose them to undue kind of competition whereby foreigners have undue advantage over them. But what do we find here? We allowed multiple designations. We allowed multiple entry points. And those things just don’t augur well for domestic carriers. Aviation expert, Gabriel Olowo said there should be deliberate policy to rescue market share by these flag carriers through single entry point for foreign carriers, strict observation of Bilateral Air Service Agreement (BASA) rules on frequencies, which includes cancellation of extra frequencies and restriction of travel, using government funds on Nigerian flag carriers.


BUSINESS | AVIATION

Sanctity of Truth

Tuesday, April 15, 2014

British Airways unveils judges for ‘Leaders of Tomorrow’ FUTURE LEADERS Bridging the gap between the classroom and the actual work environment Wole Shadare

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ritish Airways has announced the panel of judges for its Leaders of Tomorrow initiative aimed at broadening competencies in the aviation sector. The three-man panel of judges are President of Nigeria Britain Association, Tunde Arogunmati; President of SY&T Communications and aviation specialist, Simon Tumba and Aviation Editor, New Telegraph Newspapers, Wole Shadare. They are expected to select the six best essays from all entries that will be submitted for the competition. Speaking at the event which held in Ikoyi, Lagos, at the weekend, British Airways’ Trade Sales Manager, Ademola Sanya, disclosed that BA was delighted at the progress the initiative has recorded since it was launched. “We are delighted with the progress that the initiative

has recorded thus far and the number of entries that we have received from students of the participating aviation colleges. It is in line with this that we present the panel of judges. We have implicit confidence in their abilities and convinced that we will have a free and fair contest and an unbiased result at the end of the initiative,” Sanya stated. The British Airways Leaders of Tomorrow initiative opened on March 11, 2014. It is designed to bridge the gap between the classroom and the actual work environment and provide practical hands-on training for the six best participants. The programme entails a two-week internship platform through, which the six winners can learn and gain experience in their chosen fields. The internship module includes understudying Keith Williams, Chief Executive Officer of British Airways in London as well as visiting other strategic persons and places to get firsthand experience of the workings of a global airline. Responding on behalf of the judges, Arogunmati said: “We feel honoured to have been se-

lected to be judges of this laudable initiative. I believe this initiative will add value to the aviation industry at large and also enhance the country’s economic system. I must confess that this is a good investment and I will urge government and

the public to encourage and support the initiative.” All of the interns will receive a British Airways accredited certification from the CEO to mark their graduation from the Leaders for Tomorrow Academy.

First black B787 female captain in the world, Captain Irene Koki Mutungi, of Kenyan Airways.

Emirates set to take first A380 to Vienna

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mirates, a global connector of people and places, will operate a one-off A380 service to Vienna next month, celebrating 10 years of commitment to Austria. The Emirates’ double decker, which carries over 500 passengers, according to a statement, will make history when it becomes the first ever scheduled A380 service to Vienna International Airport. On May 26, the A380 service will replace EK 125 and

Emirates Airways' business class cabin

Celebrates 35th lounge in Rome

EK 8126 departing Dubai at 1715hrs and arriving in Vienna at 2110hrs. The flight leaves Vienna at 0020hrs and arrives in Dubai at 0800hrs the next day. “We would like to thank the Austrian Authorities and Vienna International Airport for supporting the deployment of this one-off Emirates A380 operation,” said Thierry Antinori, Emirates Executive Vice President and Chief Commer-

cial Officer. “Celebrating a decade of successful operations to Vienna is a historic milestone for us and demonstrates our continued commitment to Austria, which has become a key business and leisure destination for Emirates, in addition to a strategic gateway to the burgeoning economies of Central and Eastern Europe.” Emirates has developed its operations in Vienna using a strategic approach to gradually increase its services based on real market demand and has been successful in doing so, recording high seat factors on a year round basis. “We hope that the iconic city of Vienna will become part of our growing list of international cities served by the Emirates A380. More importantly, we hope that we are able to provide our worldclass product and the much needed convenience, to both our customers in Austria and the thousands of internation-

al visitors who wish to travel there.” continued Antinori. “Emirates has connected two important business and tourism regions, the Middle East and Austria, for 10 years. An excellent partnership has developed between Vienna Airport and Emirates during that time, and we look forward to continuing this productive cooperation in the future,” said Julian Jäger, member of the Management Board of Flughafen Wien AG. The carrier has been flying to Austria since May 2004, and has gradually built its services from 4 to 13 flights a week, currently operated by the B777-300ER aircraft. Since 2004, Emirates has carried over two million passengers on the route between Vienna and Dubai. At present, Emirates’ 13 weekly frequencies support over 5,000 full-time jobs in Austria, generating economic activity worth over 104 million a year.

39

Air Seychelles records second successive year of profit Wole Shadare

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ir Seychelles, the national carrier of the Republic of Seychelles, has announced a net profit of $3 million for 2013, exceeding by 171 per cent its $1.1 million profit reported in 2012. According to the carrier, revenue increased by 107 per cent to $88.7 million (2012: $42.8 million). The airline’s passenger numbers on its international network, according to a statement, increased 100 per cent to 195,857 (2012:97,576), traffic on domestic services in 2013 increased nine per cent to 156,617 passengers, while cargo volumes flown in 2013 rose by159 per cent to 5,529 tons (2012: 2,128 tons). Seychelles Minister for Home Affairs and Transport and Air Seychelles Board Chairman, Joël Morgan, said that the 2013 results were a testament to the on-going success of the airline’s turnaround strategy and business plan. “To record a second successive year of profitability after the immense challenges of the past is an achievement of which we are all very proud. Our 2013 figures are a clear indication that we now have the right business model. “In just two years, we have rebuilt our national carrier, strengthened our partnership with Etihad Airways, and beyond delivering good results for the airline, we have helped grow Seychelles tourism in the process – one of our core objectives. Today Air Seychelles is a great symbol of our nation wherever our brightlycoloured aircraft are flown.” Chief Executive Officer of Air Seychelles, Manoj Papa, said: “These results are another step forward in our journey as a commercially successful business and come against a backdrop of impressive development in both our domestic and international operations. “Our business is now in good shape for the future, which includes growing our operations, launching new routes, taking delivery of new aircraft, expanding airline partnerships, hiring more Seychellois and bringing more travellers to the Seychelles."


40

BUSINESS | AVIATION

Sanctity of Truth

Tuesday, April 15, 2014

Overland Airways gets new operator certificate Stories by Wole Shadare

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he Nigerian Civil Aviation Authority (NCAA) has awarded Air Operator Certificate (AOC) to Overland Airways. It is part of the ongoing recertification of all the nation’s airlines. The airline was awarded AOC, having successfully un-

dergone the process and met with the requirements of the aviation regulatory body in the re-issue of the certificate. In a presentation that took place at the NCAA Headquarters Annex last week, NCAA the acting Director General, Benedict Adeyileka who presented the certificate said the NCAA would continue to sup-

port and help the airlines grow in their operations. According to Adeyileka, Overland submitted the PreApplication Statement of Intent (PASI), Formal Application, Document Evaluation – manuals were submitted and their training were inspected and approved before they were cleared to proceed to the next phase.

L-R: Capt. Edward Boyo of Overland Airways receives Air Operator Certificate from the acting DG, NCAA, Mr. Benedict Adeyileka, while Capt. Akerele John Olatokunbo, of the Authority's Flight Standard Group (FSG), watches with admiration.

Iberia adds new routes to network NEW DESTINATIONS It would help to reduce the airline’s cost base in order to make it competitive again

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he Iberia Group said it would offer five new destinations: one long-haul (Santo Domingo - Dominican Republic) and four mediumhauls (Istanbul, Amsterdam, Athens and Stockholm - the latter, already launched). Additionally, it is reinforcing its offer to a range of European and American capitals. Santo Domingo will be operated from September 1st, with five direct weekly frequencies, while it will begin to fly to Istanbul on June 20th, offering daily flights. Athens, which up to now was only served in the summer, will begin to be offered as a year-round destination. The airline has just begun flying to Stockholm, initially with two weekly frequencies, which will be increased to a daily flight from September 1st. It will also offer two daily flights to Amsterdam from

July 1st, which will increase to three in September. In addition to these new destinations, Iberia will schedule three additional weekly flights to Chicago in the summer, two more to Panama starting in July and several additional frequencies to destinations such as Rome, Venice, Munich, Dusseldorf, Frankfurt, Berlin, Brussels, Zurich, Geneva, Copenhagen, Stockholm and Tel Aviv. It has also resumed its direct flights to Boston and Los Angeles and will operate summer routes to St Petersburg, Dubrovnik and Zagreb. Luis Gallego, Iberia’s chairman and CEO, said: “We are announcing new operations and services for our customers after analysing which routes are profitable in the long term, and thanks to the effort of all of us at Iberia to reduce the airline’s cost base in order to make it competitive again. Iberia, once again, confirms its commitment to Madrid, the T4 and its strategic role as a connection between Europe and Latin America”. All of the new destinations are connected, via Ma-

drid, with the Iberia’s Group network, reinforcing T4’s role as one of the most important hubs in Europe. Additionally, the reinforcement of services in the most important routes within Europe makes it possible to improve the hub’s connectivity and offers the airline’s passengers in Spain, Europe and the Americas more frequent and better travel options. Iberia along with Iberia Express and Iberia Regional Air Nostrum offer more flights at Madrid than any other airline in any other Spanish airport: 1,380 weekly frequencies in short and medium haul (Spain, Europe, Africa and Middle East) and 154 weekly frequencies to long haul destinations. Iberia continues to implement its new long-haul Business and Economy cabins, which are already available on its main destinations. In the United States, Bogota and Angola, it is available on almost all of its flights. In Sao Paulo, Mexico and Buenos Aires it is available on at least one daily flight and will gradually be offered on the remaining flights.

The Base Inspection and Successful Evacuation Demonstration were conducted. Demonstration plan was approved while the Flight Demonstration was done for 50 mandatory hours as demo hours. Speaking further, Adeyileka commended the tenacity of Overland Airways during the exercise, saying, ”Our doors are open, as the regulatory authority we are here to listen to you and provide you with solutions when you involve us in your challenges.” However, we have zero tolerance to non-compliance to our regulations. We cannot compromise safety and security. Our processes have been modified. If you have any misgiving concerning our regulations you are free to interact with us. Some portions of the Regulation can be reviewed and amended but it has to pass through a process. It has to be suitable for the airlines’ growth propensity but it must not jeopardize safety”. Responding, Capt. Edward Boyo, visibly elated, said the AOC was the basis of the airlines’ existence. “We want to thank the Director General and his team, we are proud to say we enjoy working with them. It was a tough road to traverse due to the professionalism of the

certification team; however, it was well worth it at the end”. He assured the team that his airline’s slogan is never to negotiate safety. Overland is a safety consciousness organization. According to him, everyone in NCAA today is working hard to build an NCAA for future generations. The Overland chief executive urged the DG to provide an enabling environment for a quantum number of airlines to come on stream in Nigeria. According to him, there are several routes that need to be opened up if we had more operators. The NCAA Recertification team is led by Capt. J.O Akerele (Certification Project Manager). Others are Capt. Z. Mordi (Flight Operations Inspector), Engr. V. Goyea (Principal Maintenance inspector), Z. Mande (Principal Avionics Inspector), Mr. A. Eboigbe (Ground Operations Inspector), and Mr. Abdulkadri (Cabin Safety Inspector). Capt. Boyo signed the acceptance certificate on behalf of Overland Airways while Engr. Adeyileka presented the AOC and the operations specifications detailing the limitations of the certificate. The Chief Operating Officer, Mrs. Aanu Benson accompanied the airline chief to the presentation.

New Enugu airport viable –Ortom

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he Supervising Minister of Aviation, Dr. Samuel Ortom has assured Nigerians that the new international terminal being constructed at the Akanu Ibiam International Airport, Enugu would be commercially viable when it becomes operational. Ortom gave this assurance recently when he was responding to questions by journalists during his inspection tour of new projects at the airport. He said sufficient economic survey was made before the project was initiated by the Federal Government apart from the fact that Nigerians from the South East geo-political zone of the country, who are well known for their business enterprise would be capable of generating sufficient passenger and cargo traffic on that international route. He undertook an inspection tour of the airport to assess the stages of completion of some major projects there, including a General Aviation

Terminal, pilots lounge, pilgrims terminal and the new International terminal, one of the five being constructed in Lagos, Kano, Abuja, Port-Harcourt and Enugu, under President Goodluck Jonathan’s Transformation Agenda in the Aviation Industry. Ortom who expressed satisfaction with the rate of work on the projects will also visit other airports in the country, in continuation of the inspection tour of airport projects. He was accompanied on the inspection tour by the Permanent Secretary, Ministry of Aviation, Dr. Jamila Shuára, Directors in the Ministry and heads of parastatals under the Ministry. It would be recalled that the Akanu Ibiam International Airport Enugu officially commenced international flight operations late last year with Ethiopian Airlines, the first from the South East geo-political zone since the county’s independence.


MOM&PARENTING

NEW TELEGRAPH

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www.newtelegraphonline.com/mum&parenting

OLUWATOSIN OMONIYI oluwatosin.omoniyi@newtelegraphonline.com tosin042001@yahoo.com

TUESDAY, APRIL 15, 2014

Do you openly favour one of your children against another? Is your bond stronger with a certain child than another? Certainly, the less-favored child can suffer from your alliances, but you may be surprised to learn that playing favourites has a negative effect on all children in the home, including the “star” child.

Favouritism: How not to raise your children

Oluwatosin Omoniyi

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he less-favoured child carries around feelings of not being good enough, wondering, “What am I doing wrong?” This leads to low self-esteem, anger and acting out for attention, even negative attention. The favoured child will begin to feel his/her sibling’s resentment, and may even begin to hate being treated as the special child. A typical example of this is the family of the Oyegbemilekes residing somewhere in Alagbole-Akute, a boundary between Lagos and Ogun states. The family of five scattered, mainly because of favouritism within the family. Mayokun is the most favoured of three children. For Mayokun, life seems to be a bed of roses. She wouldn’t even believe there is another life outside the luxury of life style her parents are showering on her. While Mayokun relishes her life of pleasure supplied by parents, Okiki, the second born of the family believed he was a mistake or accident to the family. He toiled hard to get all his needs from his parents, especially his father. To him, his mum is the only fair person in the family while his dad makes him feel like an outcast. According to him, his father sent his two other siblings to the United Kingdom for their master degrees while he is staying in his mother’s shop and looking for job. “I really can’t stop thinking what my offence is. But I strongly believe my mum is yet to tell me the truth about me in that family,” he said. The graduate student of the University of Ilorin said throughout his four years course in the university, put together, his father only gave him N15,000. “It is my mum that supports me most.” While in school, he looks for organisations in need of casual workers and at times, joins the boys who are attached to pick up vans to supply sachets water. “That is where I made extra money to support myself,” he said. Unfortunately as some would say for Okiki, who was born and raised in a Christian home, he is now a strong Islamic cleric. Reason? He found love, compassion and acceptance from the parents of his Muslim friends. Consequently, his father was dethroned from his position in the church, while his mother just stop attending. Okiki vowed

Playing favorites

not to go back to Christianity. Serves the parent right? Another family is the family of Olagbenros. Bose Olagbenro, out of 28 children is the only one who is not doing well in life. She refused to be properly educated; she can’t work. She can’t even sustain her matrimonial home. Why? She was highly favoured by her parents. Anything she wanted, there was no “NO Answer.” Even if it wasn’t available, it will only take couple of minutes or hours to get it for her. Naturally, she was disliked by her siblings and there was constant friction among them. She said they were all hostile to her. Bose explained that her parents liked and favoured her most because she was smart, loving and very considerate. Qualities, her siblings considered as cunning and sliming in nature that she used in getting their parents’ attention. However, tragedy struck

The less favoured kids may have ill will toward their mother or preferred sibling, and being the favoured child brings resentment from one’s siblings and the added weight of greater parental expectations

when Bose was in JSS 3. Her parents and two of her siblings were victims of an ethno-religious clash, which happened in Jos, Plateau state some years ago. At the demise of her parents, she couldn’t cope at all. She couldn’t even think straight, how to go, where to go and how to adjust. Again, she was heady and incorrigible. Not her fault; she was over pampered, used to having her ways. While her siblings successfully forged ahead in life, Bose, apart from being envious of them was always falling in and out of trouble, a trait that her three different husbands could not tolerate. Favouritism among children is a universal human trait which has its roots in the Bible, as early as Genesis, and it weaves its way all through the Scriptures. The first example showed the consequence of favouritism through sibling rivalry between Cain and Abel. It turns out with the first child murdering his younger brother (see Genesis 4:1-16). We also see parental favouritism with Isaac and Rebekah. In Genesis 25:28, “Isaac loved Esau, because he did eat of his venison: but Rebekah loved Jacob.” We see this again in the history of Jacob’s relationships with his sons. He loved the sons of Rachel more than he did the sons of Leah. The story of Joseph and his 11 siblings in the book of Genesis, described how Joseph was treated as a special child among Jacob’s children. H e was so hated by his siblings that they sold him into slavery. All these examples simply mean that favouritism is as old

This is what usually happens when parents focus more love and attention on one child, all the other children begin to feel that their parents’ behaviour is unfair, which creates resentment and uncertainty. It also affects sibling relationships, leading to higher levels of anger and aggressiveness. Nancy Irwin, clinical psychologist said it’s perfectly natural for good parents to have favourite children. “Parents can love each of their children equally, while favouring one over the others.” Ogheneochuko Obo-oghencheruru,a father of five children told New Telegraph that he prefers his first child because he’s smart, not self-centred and naturally has some leadership qualities. He said he possess 70 percent of the type of qualities he desired to see in his children. He claimed to love all the children but he just can’t help loving his first child most. “Truth is I love all my children but I just can’t help with the preference for my first child. He behaves exactly like my late father. He is very friendly, accommodating and financially prudent,” he said. Obo-oghencheruru added that if he had reason to beat his first child, then there must be reason to extend it to the rest of the children. Interesting! Ayanfel Akinwunmi, mother of three, showers her love and favouritism most on her second child because “he’s so loving, wise, and social and very concerned!” AddC O N T I N U E D O N PA G E 4 2


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MOM&PARENTING

Sanctity of Truth

Tuesday, April 15, 2014

Children and sign languages

Sign language is a visual way of communicating using hand gestures, facial expressions and body language. Visual communication methods have been around for thousands of years and nowadays, there are hundreds of different types of sign languages in use across the world. OLUWATOSIN OMONIYI reports

Following the sign language

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nderstanding and communicating in sign languages is not only the communicating channels of the deaf and dumb. In Africa mostly, it’s a value that parents inculcate into their children. In fact, it’s part of a culture that parents adopt to speak to their children either in the open or inside. In Nigeria, the Yoruba culture for instance, believes in eye contact and leg communication than verbal. To them, it is more effective and makes the child wiser. The child is regarded as foolish and at times a bastard when he or she cannot decode sign languages by his parents. Parents, especially mothers, signal to a child with an eye con-

tact and if the child does not seem to get it, right there, the mother begins to pinch the child and when they get home, it is thorough beating for that child. A shameful and funny scene took place last week at one of the eateries where two family friends took their children for fun probably. I guess one of the mothers preferred to be the one giving rather than taking. And the other mother also tried to flex her muscle that she can afford it. Mother A winked at her child either to take the doughnut mother B is giving her or not, the poor girl didn’t understand it, went ahead and collected it from mother B. Again, at the Ice cream stand, mother B was still try-

ing to be faster in paying. Quickly, mother A matched her daughter probably to look at her face. But the girl went foolish by shouting, “ha mummy, what is wrong with you? Why are you matching me this hard?” The mother replied, “Oh sorry about that, it wasn’t intentional.” Again, she winked and the little girl asked, “Mummy, why are you blinking your face at me since?” This time, the mother couldn’t hold back as she dished a dirty back hand slap on the child’s face. A passerby simply hissed and boldly accused the mother of not training the girl properly at home, which is why she just can’t fathom what the mother was telling her. That is the differencebetween

Playing the favourite child C O N T I N U E D F R O M PA G E 4 1

ing that, “he just clicks into my system.” Akinwunmi explained that she tried to even out and balance the love to all her children but it unconsciously flowed out more to her second child. Even though, she feels guilty often because her first child feels inferior to the second and the third quietly keeps more to himself. She said she hopes it wouldn’t degenerate into something she won’t be able to handle. Esther Odiaka’s (commonly called mummy Grace) case is similar to that of a book titled “A Child Called It” by Dave Pelzer. It is the unforgettable story of a child whose courage and unyielding determination enabled him to survive extreme life threatening odds. That is exactly the case with Odiaka or mummy Grace and Gidion, her first child. She maltreats him, starves him; made him serve her younger sister. From the open relationship between Gidion and his sister, there is no love lost simply because of the demarcation their parents already created between them in

the name of preference. Mummy Grace loves her last daughter, Grace because “she acts more maturely than her brother who is 12 years older than her. She added that Grace is elderly. Whenever she and her husband are exchanging blows, she claimed that Grace has a calming effect on her father. However, Dr. Phil warns that showing preference for a child among siblings is not healthy “That’s not healthy for you or for the child because it stops the child’s independence; it stops his development as a child because he was born with a job.” “His job is to make you feel better over the loss that you’ve suffered. So the child was born with a job. He’s got to be there. He’s got to entertain you. He’s got to comfort you. He’s got to nurture you. This is not healthy. Can you love a child too much? No. But can you love them in the wrong way? Can you use them in ways that aren’t in their best interest in the name of that love? The answer is absolutely yes. Effects of parental favouritism, left unchecked, can be long lasting. A study titled Mothers’ Differentiation and Depressive

Symptoms Among Adult Children found siblings who sensed that their mom consistently favoured or rejected one child over another were more likely to exhibit depression in middle age. The study also revealed that these possible outcomes can affect both the favoured and unfavoured child. Dr. Karl Pillemer, director of the Cornell Institute for Translational Research on Aging, said it does not matter who the chosen child is but the perception of unequal treatment has damaging effects for all siblings. “The less favoured kids may have ill will toward their mother or preferred sibling, and being the favoured child brings resentment from one’s siblings and the added weight of greater parental expectations.” But Ellen Weber Libby, author of The Favorite Child; argued that it is not true that the long term effects of being the favoured child are all negative. He asserts that there are in fact, lots of advantages – including a bolstered self-esteem. “The favourite child often grows up feeling confident and powerful with an attitude of ‘I can get things done,” he said.

nowadays children and olden days trained children, according to Abidoun Kasim, an Educationist.Hesaidheescapeddeathnarrowlywhen he was much younger. He always looked for eye contact or the non verbal communication from his grandmother before collecting things from people. On the day that his grandmother was not around to authorize him to collect it; he collected a fried fish from a family friend and kept somewhere. Until about six months later, when they announced the death of the person that offered him the fish, he remembered and went to where he kept it, “alas!, the fish was still as fresh as ever but swollen!” His grandmother said if he had not adhered to the signs and warnings she gave, he would have been grievously sick. Non verbal communication is very necessary in this jet age that children are extremely careless. It shouldn’t be a value limited to the old era. For Olamide Philips, a communication assistantinoneof thetelecomcompanies “Whenever we go visiting and they offered us food, my mother need not look at me before I know that I am not to take that food. Mere shaking of her legs in a friendly way says it all,” Philips said. Philips said she had it rough with her parents especially her mother and her grandma. She said it got to a point she thought she was meant to be a dumb because her parents were practicallycommunicatingwithherinsignlanguages even when not necessary. “It got to a stage, I understoodbetterthesignsthanthespokenwords. Somehow, I felt out of place with children who talk too much or freely outside their homes,” she said. For Olayemi Oloniyo, a housewife, it is heavy knock on the head from her father for failuretodecodethesignlanguage.Sherecalled vividly a day she was asked to give a visitor water, she did but she didn’t kneel down which infuriated her father, who had been giving her a signthatsheshouldkneeldown.“Oh,itwastwo heavy knocks on my head instead of the usual one. I had headache all through that day.” But sheremainsgratefultoherparentsbecauseshe believes that nowadays children are fast losing the values and norms of decency. Osinachi Ikemmefule, said eye contacts or sign language is not limited to one tribe. It is indeedaglobalculture.Eventhewhitepeoplecommunicate with their eyes or body language. All thetribesinAfricavaluesit.Hesaidhislastchild who is just eight months understands perfectly well whenever he gave her eye contacts, while her elder siblings adjust with just clearing of his voice. “Once I enter my living room and my countenance is hard, my little girl understands it for cautions. She immediately rolls back her walker to where she supposed to be and mere clearing of my voice, the boys adjust or retreat to their rooms,” he said. Sign language may be as expressed as mere grimaces, shrugs, or pointing; or it may employ a delicately nuanced combination of coded manual signals reinforced by facial expression and perhaps augmented by words spelled out in a manual alphabet. However, Kassim advised parents to ensure that they impact non-verbal communication values into the children as it will go a long way in assisting them.


FEATURES

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newtelegraphonline.com/entrepreneur

ABIODUN BELLO FEATURES EDITOR

abiodun.bello@newtelegraphonline.com

TUESDAY, APRIL 15, 2014

Pupils packing food to be taken home

10.5m out-of-school children:

Raising enrolment through free meals

Home Grown School Feeding and Health Programme (HGSFHP), launched in 13 states as a pilot project in 2005, was designed by the Federal Government to, among other things, address the high rate of out-of-school children. Since then, only Osun State could carry on, writes MOJEED ALABI

E

ight-year-old Isola Adam and his six-year-old sister, Opeyemi Adam, had never been to school. They had lived with their grandmother in the remote village of Aaje in Orolu Local Government Area of Osun State, where their mother had taken them to after their father’s death. Their mother, Mrs Juliana Adam, is one of the labourers standing every morning at Railway Line at Old Garage area of Osogbo, to be picked up by bricklayers in need of daily workers. She lost her husband, a commercial bus driver, barely four years into their marriage; and since then, life has been very difficult for her. Hence, the decision to take the children to her mother in the village so that she could face life challenges alone. However, with the modified school feeding project in public primary schools in the state, Adam had brought

her two children to town and enrolled them in Grade 1 at the St. Michael Elementary School, Agowande, Osogbo. Similarly, Ilias Sarafa, upon the completion of his participation in the mandatory National Youth Service Scheme (NYSC), recently visited his hometown, Ilobu, in Irepodun Local Government Area of the state. He had made the unscheduled visit to his siblings who were schooling at home since their parents live in Ondo State where they are engaged in farming. But what Sarafa found out surprised him. “I had some money on me when I visited them and I was afraid I might not be able to meet their needs because I expected them to have exhausted their foodstuffs and pocket money. But I was surprised to see them looking well-fed while also attending to their homework without being prodded.

“Even their kerosene was not exhausted, and their elder brother, who is in secondary school, said the food being served his three younger ones who attend Ansar-U-Deen Elementary School, Laaro, had sustained them. He said sometimes, when they could not finish their food in school, they bring the rest home,” Sarafa explained. The story is the same in Ile-Ife, where 10-year-old Daniel Temitope was withdrawn from a private school in Abakaliki, the Ebonyi State capital and was enrolled at Baptist Central Elementary School, Ilare, Ile-Ife, because his parents felt children of their neighbours attending the public school in the town were doing well. Daniel, who was in Primary IV in Abakaliki, was placed in Grade II in Ile-Ife, when he could not pass the test conducted for him to be admitted. Asked what his opinion was about

the new school, Daniel said; “They give us food here and they don’t teach us in Pidgin English.” In all the state’s primary schools, especially in the rural communities of Kuta, Ile-Ogbo, Oba-Oke, Obaagun, Ogbaagba, Ifon-Osun, among others, investigation revealed astronomical increase in primary school enrolment; the development was predicated on the state’s food project, which has been rechristened Osun Elementary School Feeding and Health Programme (O’Meal). According to the deputy governor, who doubles as the Commissioner for Education, Otunba Grace Laoye-Tomori, the education summit organised in 2011 and chaired by the Nobel laureate, Prof. Wole Soyinka, formed the basis upon which the investment in education stands, especially the repackaging of the school feeding project. She said: “When we assumed office in 2010, what we found the kids being fed with was not attractive to us. “Apart from the cocoa drink which was very good, the food wasn’t rich enough and to address that, we asked nutritionists and dieticians from the Obafemi Awolowo University, Ile-Ife and the Osun State University, for professional recommendations on food that will be ideal for children in their formative years. “That was meant to address the stunted growth we discovered among the kids, especially those in the rural areas and recommended were foods with carbohydrates, protein and fruits on a daily basis. “Apart from feeding them, we also dewormed them every six months. Statistics as at the end of July 2013 showed that on a weekly basis, we use 15,000 chicken; 7,800 crates of eggs, 400 tons of fresh fish and we also slaughter 35 heads of cattle for them. “So we spend N14.9 million on the school feeding project on a daily basis.” According to her, the government now spends N3.6 billion annually. Investigation also revealed that the effort is already yielding results, especially in the areas of reduction in hunger among the children; improvement in their nutritional status; increase in school enrolment, attendance and retention in the classroom. All these measures, the state government said were aimed at achieving the Millennium Development Goals (MDGs). Investigation also showed that the programme, which started across the state’s 1,378 primary schools on April 30, 2012, with 155,318 pupils, increased enrolment by almost 25 per cent within a month. By May of that year, the figure had increased to 194,258; a total of 38,000 pupils had been rescued from the streets. C O N T I N U E D O N PA G E 4 4


44 FEATURES

Sanctity of Truth

Osun free meal project to the rescue

Tuesday, April 15, 2014

C O N T I N U E D F R O M PA G E 4 3

UNESCO’s report of January 2012 stated that Osun was the second state with the highest number of out-ofschool children in the South-West with Lagos, Ogun, Ondo and Ekiti states clearly ahead. But by July 2013, report of the National Bureau of Statistics recorded that Osun has the highest figure of primary school enrolment. Confirming the situation, a class teacher at Saint Michael Elementary School, Mrs Fasilat Ajiboye, told New Telegraph that the enrolment in her class at the beginning of the session was 40, but by the third week, it increased to 50. “As you can see, those pupils who are not putting on their school uniform are some of the pupils just admitted and that is because they have not been allocated their uniform, since it is given free by the state,” Ajiboye said. Similarly, one of the cooks, Mrs Eyinade Adebisi, said the initiative had helped the pupils greatly. According to her, on Wednesdays, when eggs are served on rice, the pupils eagerly look forward to their lunch time. “For us too, we are enjoying it. When we cook for the pupils on weekdays, we also work as caterers on weekends and that brings us extra money,” Adebisi said. The former Minister of Education, Prof. Chinwe Obaji, during whose tenure the school feeding project was introduced, said the idea was in realisation of the central role of nutrition to education. According to Obaji, that informed the partnership with the New Partnership for African Development (NEPAD), World Food Programme (WFP), United Nations International Children’s Fund (UNICEF) and other International Development Partners (IDPs) to initiate it. Apart from resolving hunger crisis among children, retention in class, and other benefits, the former minister told New Telegraph that the initiative was also meant to promote local agriculture that benefits rural farmers by using locally-sourced foods, providing regular orders and a reliable income for local farmers. True to Obaji’s claim is the situation in Osun, where a total of 3,007 women were appointed as food vendors by the state, and 1,000 farmers drawn from across the nine federal constituencies of the state were assisted to plant red cocoyam. The red cocoyam, nutritionists advised the state government, is more appropriate for the kids than other types of yam. According to the Operation Officer of O’Meal, Mrs Olubunmi Ayoola, about 90 women farmers were recently trained in modern method of cultivating cocoyam and were offered financial support after their graduation to commence their farming job.

Aregbesola

Obaji

Atinmo

Laoye-Tomori

Ejiogu

Ayoola

Ayoola added that the eggs being produced in the state were no longer enough for the supply required to feed the kids and that the state had also encouraged farmers to bring their products for the ready-made market. She said: “To further enhance this programme, the governor recently signed the Osun State Elementary School Feeding Transition Strategy Plan document with the representatives of the Board of the Partnership for Child Development (PCD) of the United Kingdom.” The development, Obaji said, was what the Federal Government had targeted when it introduced the project in the 13 states selected from the six geo-political zones and Abuja in 2005 on a pilot scheme. They are Bauchi, Cross River, Enugu, Imo, Kano, Kebbi, Kogi, Rivers, Ogun, Osun, Nasarawa and Yobe states. “I am very sure if the other states had not backed out, the same effects

being experienced in Osun now would have been recorded in all the other states, and the case of the 10.5 million out-of-school-children would not have arisen at all. “That may have also helped in curbing the insurrection currently being experienced in some northern states, because I could remember Yobe in particular was added then,” Obaji said. To justify the importance of food to education, a recent visit by our correspondent to Makoko, a slum in Lagos, revealed a countless number of children who claimed they had never been to school because they hawk for their parents. Ayomide Muka is a 12-year-old girl and only child of his mother, who said she was not allowed to attend school because she had to take fish to Agege market every day. “My mother will not allow me to go to school because she says I must work for what I would eat,” Muka said. But according to the former Dean of the Postgraduate College, University of Lagos, Akoka, Prof. Aloy Ejiogu, nations with the best education policies do not toy with the quality of education offered in their basic schools, regarded as the foundation of learning. Ejiogu, who cited Finland, United States of America and India as nations where educational revolution had tak-

en place, said the school feeding projects had helped in no small measure to achieve such feat. Also, the President, Federation of African Nutrition Societies, Prof. Tola Atinmo, said the school lunch programme had been in place in the United States as far back as 1946, saying the initiative had helped the country greatly. Atinmo, who was part of a training programme on nutrition for school teachers in Lagos recently, advised teachers to encourage parents to always provide for their wards. Commenting on the danger of neglecting children, the Executive Secretary of Lygel Youths and Leadership Initiatives, an Abuja-based non-governmental organisation, Mr Olalekan Oladapo, said it was unfortunate that in the midst of widespread corruption staring Nigerians in the face, many states could not introduce school feeding project on account of funding challenge. Oladapo said his organisation would not hesitate to sue government, both at the federal and state levels, to ensure the initiative in Osun was emulated. He said: “We need to encourage these kids to go to school these days, especially with the high rate of unemployment in the country.”

My mother will not allow me to go to school because she says I must work for what I would eat


METRO

of Truth

pril 15, 2014

45

Hospital performs n court for stealing tricycles Asokoro first laparoscopic surgery The Investigating Police Officer (IPO), Sergeant Sule Yakubu, said on March 16, at Olaiya Street, Ikotun, Lawal stole one tricycle property of one Biliaminu Dahanmi and was apprehended by the police. According to the charge sheet No. MIK/U/71/2014, Lawal committed the offence which is punishable under Section 285(10) of

the Criminal Code of Lagos State, Nigeria 2011. Counsel for the defendant, C. C. Ezenwa, who filled an application for bail on liberal terms, told the court that the charge was a bailable offence, adding that the bail was at the discretion of the court. He said: “The issue in the subject matter of the charge has been resolved between the two parties in the sense that the said ‘Keke Marwa’ was recovered and given back to the complainant.” Akinde granted the accused bail in the sum of N100,000, a taxable surety with proven address and sworn affidavit. She adjourned hearing in the case till May 13. In the second case, Nwabajala was said to have on March 28, at

Yekeen Nurudeen Abuja

A Oluwa Street, Ijegun in Lagos stole one unregistered tricycle valued at N450,000 property of Adekunle Owolabi. The magistrate also granted Nwabajala bail in the sum of N100,000, one surety with tax clearance adjourned the case to May 13.

team of medical experts at Asokoro General Hospital in Federal Capital Territory (FCT), Abuja has recorded a feat by performing a laparoscopic surgery to remove uterine fibroid from a 46 year old woman. The operation, which was carried out on April 1 by six medical doctors at the hospital, was led by Dr Olugbenga Bello. It was the first of its kind by any hospital owned by the FCT Administration. According to the FCT Secretary for Health and Human

Services, Dr Ademola Onakomaiya, the operation was carried out by FCTA gynaecological endoscopy surgery team on the patient who was carrying a 14-week pregnancy size uterine fibroid. He said: “It was carried out by our gynaecological endoscopy surgery team with assistance from our colleagues from other sister hospitals in the FCT.” Onakomaiya said the patient had fully recovered from anaesthesia after the operation. He attributed the cutting edge technology-driven operation to the improved healthcare provided by the FCTA.

I embraced robbery after losing bank job -Suspect ETERNAL REGRET

A former bank driver, who said he refused to heed his mother’s warning, is now cooling his feet in police custody for robbery Juliana Francis

A

robbery suspect, now in the custody of the Special AntiRobbery Squad (SARS), Ikeja, Lagos State, said he took

Rainstorm destroys 100 houses Kunle Olayeni Abeokuta

O

gun State Government has promised to provide relief materials to victims of rainstorm in Idogo and Ipake towns in Yewa South Local Government Area. The Secretary to the State Government (SSG), Taiwo Adeoluwa, who made the pledge when he led a government delegation on an on-the-spot assessment tour of the affected communities, said the relief materials would lessen their plight. About 100 houses and a public primary school in Idogo were destroyed by the rainstorm. The SSG, who in company with the Commissioner for Environment, Ayo Olubori, Commissioner for Local Government and Chieftaincy Affairs, Chief Muyiwa Oladipo, and the Chairman of Yewa South Local Government, Safiu Adeniji, said the incident was a great loss not only to the affected communities, but also to the state as a whole. While thanking God that no life was lost, Adeoluwa noted that Governor Ibikunle Amosun was deeply touched by the incident, adding that this was why he or-

dered immediate inspection of the area. He said: “On behalf of the Governor, Senator Ibikunle Amosun, first, we thank God that no life was lost in the havoc that recently affected these towns. This is not the fault of anyone but a natural catastrophe. We also sympathise with you on behalf of the governor who ordered us to come here for instant assessment of degree of damage. “We want you to know that you are not alone in this situation. In fact, the whole state is affected by this because what affects one affects all. As I am speaking to you now, relief materials are on the way for everyone who is affected in one way or the other. “Besides, officials of the State Emergency Management Agency (SEMA) are also on ground for house-to-house enumeration and assessment.” Speaking on behalf of their communities, the Onidogo of Idogo, Oba Saheed Olubiyi, and the Baale of Ipake, Chief Dauda Fadairo, thanked Amosun for his timely response. They pledged their continued support for the programmes and policies of his administration which they noted had impacted positively on their lives.

to robbery after he lost his job. The suspect, Mr Joseph Sunday, said he had no means of taking care of himself and his dependents after he was laid off by First Bank of Nigeria. Sunday, who was apprehended by SARS in March, this was second time he was arrested for robbery. The suspect also disclosed that he had gone to prisons twice because of one robbery operation. He said: “This is the second time I would be arrested for robbery. Prison inmates who saw me twice in prison didn’t know what happened. What happened was that I was given bail after my sister spent a whooping sum of money and then I was granted bail. But my bail was later cut short (vacated) and I was taken back to Kirikiri prison. “I later got to understand that my bail was vacated because the judge in charge of my case was transferred and a new one took over. “My sister spent almost N200,000 to get my bail. I had to raise money for another bail. The money for that was N250,000. When it seemed the second bail was not going to work,

I raised money for the third bail. “If I go to prison now, it would be the third time. But if I’m allowed to go by the police, this would be goodbye to robbery.” Sunday said that he was a driver with a branch of the bank at Elephant House, Marina in 2010 before he took to crime. “It was because I lost my job that I took to crime. In fact, it was friends that pushed me into robbery,” he added. The suspect said that after he lost his job, he went to meet some of his friends at Onipanu, who were also drivers. According to him, most of them were his childhood friends. Sunday said he told them that he had lost his job and needed a job to survive. It was at Onipanu that he met Isiaka and his life a turn for the underworld. “I became friends with Isiaka. But it is almost four years now that I saw Isiaka last. It was Isiaka that initiated me into robbery. “I complained to him that I didn’t have a job anymore. He took robbery as a business. He took me to Mary-

Sunday

land under the bridge to introduce me to his friends and gang. He told the gang that I was a driver and that I would be driving them whenever there was an operation. “The first robbery I went with the gang was at Ogudu Road, Ojota. We snatched a vehicle there. It was a Toyota Camry car. We were four that went for that operation and we had two guns with us. We had never killed in that gang. In fact, I had never killed in my life.” “My mother used to warn me but I wouldn’t listen, but now I’m ready to listen. I wish to have an opportunity to call my mother and tell her that I’m sorry for not heeding her warnings.”

11-year-old boy killed, body mutilated Ibrahim Abdul Yola

T

he discovery of the body of an 11-year-old boy, Master Umar Saleh, has sparked anxiety in Rumde Baru Ward in Yola North Local Government Area of Adamawa State. The boy’s eyes, tongue, nose, ears and genitals had been removed. The body, which was half concealed in a polythene sack, was discovered by a boy who raised the alarm. Some of the residents said they believed that the body had been dumped for about three days as it had started to decompose.

The father of the victim, Mallam Sale Usman, told journalists that the family had been looking for the boy for five days. According to him, the boy failed to return home after he went his younger sister to the popular Jambutu motor park where she sells food. He said: “The family had waited in vain for the return of Umar. We only found his mutilated body later.” Many of the residents of Yola decried the increase in ritual activities. According to them, the frequency with which mutilated bodies are found is becoming alarming. Many of them said the trend was

becoming rampant despite the one year emergency rule clamped on the state. Many of the people, who spoke with our correspondent, attributed the ugly trend to the upsurge in political activities. “Ritual activities are always high when politicking reaches its peak,” one of them, who refused to give his name, said. The state Police Public Relations Officer, DSP Usman Abubakar, confirmed the development. He said that the police were doing everything possible to get to the root of the problem.


Daily Summary as of 14/04/2014

46 BUSINESS | CAPITAL MARKET

Printed 14/04/2014 14:36:21.021

Sanctity of Truth

Tuesday, April 15, 2014

Daily Summary as of 14/04/2014 Printed 14/04/2014 14:36:21.021

The Nigerian Stock Market Exchange as at April 14, 2014 Daily Summary (Bonds)

Daily Summary (Equities)

No Debt Trading Activity

Activity Summary on Board EQTY

Daily Summary (Equities)

HEALTHCARE Pharmaceuticals GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals

Activity Summary on Board EQTY AGRICULTURE Crop Production FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals

Symbol FTNCOCOA OKOMUOIL PRESCO

No. of Deals 1 4 14 19

Current Price 0.50 42.00 42.00

Quantity Traded 5,000 24,820 58,086 87,906

Value Traded 2,500.00 990,318.00 2,399,008.88 3,391,826.88

Symbol LIVESTOCK

No. of Deals 22 22

Current Price 3.05

Quantity Traded 330,007 330,007

Value Traded 999,411.13 999,411.13

417,913

4,391,238.01

Quantity Traded 243,057 12,703,488 1,354,839 14,301,384

Value Traded 350,695.90 48,272,048.01 80,065,775.46 128,688,519.37

14,301,384

128,688,519.37

AGRICULTURE Totals CONGLOMERATES

Daily Summary as of 14/04/2014 Diversified Industries Printed 14/04/2014 14:36:21.021

A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

41 Symbol AGLEVENT TRANSCORP UACN

No. of Deals 6 199 67 272 Daily Summary (Equities)

CONGLOMERATES Totals Activity Summary on Board EQTY CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other

Current Price 1.44 3.90 59.21

272

Symbol COSTAIN

No. of Deals 5 5

Current Price 1.25

Quantity Traded Page 41,860 41,860

Value Traded 1 of 49,913.40 49,913.40

Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals

Symbol JBERGER

No. of Deals 11 11

Current Price 69.90

Quantity Traded 25,953 25,953

Value Traded 1,739,486.08 1,739,486.08

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals

Symbol UAC-PROP

No. of Deals 22 22

Current Price 25.60

Quantity Traded 240,327 240,327

Value Traded 6,125,418.09 6,125,418.09

308,140

7,914,817.57

Published by The Nigerian COSTAIN (W A)Stock PLC.Exchange ©

Building Structure/Completion/Other Totals

CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Daily Summary as of 14/04/2014 Automobiles/Auto Parts Totals

Printed 14/04/2014 14:36:21.021

Beverages--Brewers/Distillers GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

38 Symbol DUNLOP Symbol GOLDBREW GUINNESS INTBREW Daily Summary NB

Activity Summary on Board EQTY CONSUMER GOODS Published byBeverages--Non-Alcoholic The Nigerian Stock Exchange © 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC UNION DICON SALT PLC. U T C NIG. PLC. Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Daily Summary as of 14/04/2014 Household Durables Printed 14/04/2014 14:36:21.021 VITAFOAM NIG PLC. VONO PRODUCTS PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC.

Activity Summary on Board EQTY CONSUMER GOODS Published by The Nigerian Stock Exchange © Personal/Household Products UNILEVER NIGERIA PLC. Personal/Household Products Totals

Insurance Carriers, Brokers and Services

Activity Summary on Board EQTY

FINANCIAL SERVICES Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. Published by The Nigerian Stock Exchange © PLC CONTINENTAL REINSURANCE CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. GUINEA INSURANCE PLC. CONSOLIDATED HALLMARK INSURANCE PLC INTERNATIONAL ENERGY INSURANCE COMPANY PLC LINKAGE ASSURANCE PLC MANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. OASIS INSURANCE PLC PRESTIGE ASSURANCE CO. PLC. SOVEREIGN TRUST INSURANCE PLC STANDARD TRUST ASSURANCE PLC UNIC INSURANCE PLC. UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Daily Summary as of 14/04/2014 Insurance Carriers, Brokers and Services Totals Printed 14/04/2014 14:36:21.021 Micro-Finance Banks FORTIS MICROFINANCE BANK PLC NPF MICROFINANCE BANK PLC Micro-Finance TotalsEQTY Activity SummaryBanks on Board FINANCIAL SERVICES Published byMortgage The Nigerian StockBrokers Exchange © Services Carriers, and INFINITY TRUST MORTGAGE BANK PLC UNION HOMES SAVINGS AND LOANS PLC. Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC DEAP CAPITAL MANAGEMENT & TRUST PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC Published by The Nigerian Stock Exchange ©

Quantity Traded 202,628 202,628

Value Traded 101,314.00 101,314.00

No. of Deals 1 26 17 (Equities) 65 109

Current Price 0.68 190.00 26.30 148.04

Quantity Traded 5,000 39,105 37,645 179,780 261,530

Value Traded 3,550.00 7,135,232.94 1,006,074.95 26,675,165.29 34,820,023.18

Page

2

of

ICT Computer Based Systems COURTEVILLE BUSINESS SOLUTIONS PLC Computer Based Systems Totals IT Services COMPUTER WAREHOUSE GROUP PLC IT Services Totals

Building Materials ASHAKA CEM PLC BERGER PAINTS PLC

12

12

Quantity Traded 23,902 13,694 37,596

Value Traded 1,836,613.81 15,523,876.44 17,360,490.25

Symbol VITAFOAM VONO

No. of Deals 11 1 12

Current Price 4.00 1.58

Quantity Traded 32,836 426 33,262

Value Traded 132,097.36 643.26 132,740.62

Symbol PZ

No. of Deals 23

Current Price 32.00

Quantity Traded 97,865

Value Traded 3,233,979.41

Symbol UNILEVER

No. of Deals 47 70

Current Price 44.75

Page Quantity Traded 172,112 269,977

3 of 12 Value Traded 7,973,559.91 11,207,539.32

Value Traded 2,002,353.50 2,002,353.50

5,441,466

110,120,629.53

Value Traded 7,406.00 7,406.00

377,521

257,095.86 Value Traded 6,609,074.16 181,471.90

18

Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals

Symbol CUTIX

No. of Deals 5 5

Current Price 2.00

Quantity Traded 74,807 74,807

Value Traded 149,326.00 149,326.00

Packaging/Containers AVON CROWNCAPS & CONTAINERS BETA GLASS CO PLC.

Symbol AVONCROWN BETAGLAS

No. of Deals 2 1 3

Current Price 1.41 19.95

Quantity Traded 1,249 1,000 2,249

Value Traded 1,848.52 20,930.00 22,778.52

1,223,932

53,060,988.72

Quantity Traded 27,449 27,449

Value Traded 169,987.80 169,987.80

BERGER Daily Summary (Equities)

139 Symbol

No. of Deals 3 3

Current Price 6.47

Daily Summary (Equities) BOCGAS

7Value Traded of 12 4,968,803.58 1,481,262.20 26,429,173.00 772.56 96,664.00 20,500.00 13,101,162.80 52,888,884.20

Page

Symbol ALUMACO

No. of Deals 1 1

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals

No. of Deals

Current Price

Quantity Traded

Value Traded

Symbol AIICO CONTINSURE CORNERST EQUITYASUR GUINEAINS HMARKINS INTENEGINS LINKASSURE MANSARD NEM NIGERINS OASISINS PRESTIGE SOVRENINS STACO UNIC UNIVINSURE WAPIC

No. of Deals 33 1 6 1 2 2 3 1 11 27 2 4 6 1 1 1 2 53 157

Current Price 0.78 0.95 0.50 0.50 0.50 0.50 0.65 0.50 2.25 0.76 0.50 0.59 0.58 0.50 0.50 0.50 0.50 0.73

Quantity Traded 4,828,401 Page 2,000 1,773,238 700,000 4,200 155,000 71,000 500 938,770 4,624,389 48,123 45,250 745,883 500 1,000 773,770 350,500 2,668,355 17,730,879

Value Traded 3,803,481.78 4 of 12 1,980.00 886,619.00 350,000.00 2,100.00 77,500.00 45,550.00 250.00 2,112,282.50 3,507,846.06 24,061.50 25,792.50 433,232.14 250.00 500.00 386,885.00 175,250.00 1,904,291.49 13,737,871.97

Symbol No. of Deals FORTISMFB 1 Daily Summary (Equities) NPFMCRFBK 1 2

Current Price 6.27 0.92

Quantity Traded 500 50,000 50,500

Value Traded 2,980.00 46,000.00 48,980.00

Page Quantity Traded 2,000 18,750 20,750

5Value Traded of 12

SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals

1,021,397,791.21

Symbol EKOCORP

No. of Deals 1 1

Current Price 3.72

Quantity Traded 2,000 2,000

Value Traded 7,080.00 7,080.00

Symbol EVANSMED FIDSON

No. of Deals 2 14

Current Price 2.12 2.90

Quantity Traded 6,500 3,539,649

Value Traded 13,280.00 10,265,622.10

of

12

Value Traded 368.50 368.50

27,499

170,356.30

Symbol JAPAULOIL

No. of Deals 4 4

Current Price 0.50

Quantity Traded 28,920 28,920

Value Traded 14,460.00 14,460.00

Symbol OANDO

No. of Deals 143 143

Current Price 15.30

Quantity Traded 3,075,088 3,075,088

Value Traded 47,102,039.10 47,102,039.10

Symbol CONOIL ETERNA FO MOBIL TOTAL

No. of Deals 21 2 125 15 25 188

Current Price 49.31 3.80 148.99 122.00 170.00

Quantity Traded 145,280 3,989 459,307 60,822 31,949 701,347

Value Traded 7,163,756.80 14,400.29 65,896,499.10 7,418,777.35 5,439,286.70 85,932,720.24

Symbol SEPLAT

No. of Deals 13 13

Current Price 576.00

Quantity Traded 73,396 73,396

Value Traded 44,389,900.80 44,389,900.80

Daily Summary (Equities)

Page

348

9

of

12

3,878,751

177,439,120.14

No. of Deals 12 12

Current Price 1.10

Quantity Traded 331,048 331,048

Value Traded 367,442.80 367,442.80

Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals

Symbol REDSTAREX TRANSEXPR

No. of Deals 8 8 16

Current Price 4.36 2.35

Quantity Traded 71,600 56,700 128,300

Value Traded 311,105.00 127,008.00 438,113.00

Employment Solutions C & I LEASING PLC. Employment Solutions Totals

Symbol CILEASING

No. of Deals 2 2

Current Price 0.50

Quantity Traded 5,500 5,500

Value Traded 2,750.00 2,750.00

Symbol CAPHOTEL IKEJAHOTEL

No. of Deals 1 2 3

Current Price 4.55 0.57

Quantity Traded 1,000 25,005 26,005

Value Traded 4,770.00 14,502.80 19,272.80

Symbol No. of Deals LEARNAFRCA 5 STUDPRESS 1 Daily Summary (Equities) UPL 20 26

Current Price 1.77 2.40 3.71

Quantity Traded 165,405 200 397,179 562,784

Value Traded 292,767.30 456.00 1,503,785.30 1,797,008.60

Hotels/Lodging CAPITAL HOTEL PLC IKEJA HOTEL PLC Daily Summary as of 14/04/2014 Hotels/Lodging Totals Printed 14/04/2014 14:36:21.021

Printing/Publishing LEARN AFRICA PLC STUDIO PRESS (NIG) PLC. UNIVERSITY PRESS PLC. Printing/Publishing Totals Activity Summary on Board EQTY SERVICES Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Page

10

of

Symbol ABCTRANS

No. of Deals 8 8

Current Price 0.89

Quantity Traded 180,552 180,552

Specialty INTERLINKED TECHNOLOGIES PLC Specialty Totals

Symbol INTERLINK

No. of Deals 1 1

Current Price 4.90

Quantity Traded 30 30

Value Traded 139.80 139.80

Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Symbol AIRSERVICE NAHCO

No. of Deals 3 23 26

Current Price 2.46 5.00

Quantity Traded 3,100 452,872 455,972

Value Traded 7,254.00 2,265,555.88 2,272,809.88

SERVICES Totals

EQTY Board Totals

Daily Summary (Equities)

Value Traded 160,887.46 160,887.46

94

1,690,191

5,058,424.34

3,666

188,232,163

1,523,283,390.14

Quantity Traded 5,000 5,000

Value Traded 2,500.00 2,500.00

12

Activity Summary on Board ASeM Daily Summary as GAS of 14/04/2014 OIL AND Printed 14/04/2014 14:36:21.021 Petroleum and Petroleum Products Distributors

CAPITAL OIL PLC Petroleum and Petroleum Products Distributors Totals

Symbol CAPOIL

No. of Deals 1 1

Current Price 0.50

Daily Summary (Equities) Page

Published by The Nigerian Stock Exchange ©

Activity Summary on Board ASeM

3,120.00 9,375.00 12,495.00

156,561,327

8

Quantity Traded 50 50

Symbol RTBRISCOE

Published by The Nigerian Stock Exchange ©

Value Traded 5,110,341.76 5,212,503.00 475.00 120,993,257.74 106,827,978.64 57,702.00 4,012,569.42 21,752,976.89 263,967,804.45

4

OIL AND GAS OIL AND GAS Totals

Symbol

Quantity Traded 1,756,502 2,373,773 500 9,784,665 30,520,642 97,800 199,091 8,359,819 53,092,792

Current Price 7.75

Activity on Board EQTY Published by TheSummary Nigerian Stock Exchange ©

Value Traded 25,222,993.67 11,473,903.76 164,771,991.11 6,166,116.83 167,673,119.42 44,877,576.59 66,235,998.37 44,970,155.32 1,713,889.55 1,408,688.87 209,116,206.30 743,630,639.79

of

Quantity Traded 1,400 1,400

Quantity Traded Page 126,899 163,018 112,689 666 193,328 5,000 123,854 1,146,876

Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

Quantity Traded 3,326,345 1,862,133 12,675,462 3,074,837 6,183,836 12,749,274 28,033,664 6,379,688 171,670 1,479,324 9,730,173 85,666,406

6

Current Price 5.56

Current Price 37.75 9.10 234.90 1.16 0.50 4.10 106.00

Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL NIG PLC. Daily Summary as ofOIL 14/04/2014 TOTAL NIGERIA PLC. Printed 14/04/2014 14:36:21.021 Petroleum and Petroleum Products Distributors Totals

Current Price 7.60 6.16 13.00 2.00 27.00 3.55 2.40 7.05 10.00 0.95 21.70

Page

No. of Deals 4 4

No. of Deals 22 9 22 1 3 1 29 131

Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

No. of Deals 101 47 77 69 291 108 59 165 51 29 275 (Equities) 1,272

2,184

Symbol CWG

NATURAL RESOURCES Totals

Current Price 79.00 1,185.00

Current Price 2.91 2.20 0.99 12.40 3.50 0.62 20.45 2.52

Value Traded 249,689.86 249,689.86

Symbol CAP CCNN DANGCEM DNMEYER FIRSTALUM PORTPAINT WAPCO

CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. FIRST ALUMINIUM NIGERIA PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals

NATURAL RESOURCES Metals ALUMINIUM MANUFACTURING COMPANY PLC Metals Totals

No. of Deals 27 27 54

No. of Deals 92 34 1 383 66 7 26 141 750

Quantity Traded 376,121 376,121

Activity Summary on Board EQTY

Symbol CADBURY NESTLE

Symbol AFRIPRUD CUSTODYINS DEAPCAP FBNH FCMB ROYALEX STANBIC UBCAP

Current Price 0.67

Published by The Nigerian Stock Exchange ©

Value Traded 2,895,276.31 22,247,235.65 6,450,429.53 3,575,306.60 4,283,385.29 4,929,724.80 114,810.48 44,496,168.66

Current Price 1.64 0.50

No. of Deals 14 14

Quantity Traded 400,614 20,808

NATURAL RESOURCES Chemicals B.O.C. GASES PLC. Chemicals Totals

Quantity Traded 353,791 2,251,483 95,191 964,960 364,352 366,795 216,576 4,613,148

No. of Deals 2 1 3

Symbol COURTVILLE

INDUSTRIAL GOODS Totals

Current Price 8.30 9.99 68.49 3.71 11.80 13.44 0.53

Symbol INFINITY UNHOMES

14,784,409.09

Current Price 16.40 8.90

Daily Summary as of 14/04/2014 Packaging/Containers Totals Printed 14/04/2014 14:36:21.021

No. of Deals 31 82 34 15 31 1 6 200

Daily Summary

4,004,039

No. of Deals 35 9

INDUSTRIAL GOODS

Symbol DANGFLOUR DANGSUGAR FLOURMILL HONYFLOUR NASCON UNIONDICON UTC

Symbol ACCESS DIAMONDBNK ETI FIDELITYBK GUARANTY SKYEBANK STERLNBANK UBA UBN WEMABANK ZENITHBANK

Value Traded 3,882,496.36 305,982.63 309,948.00 14,777,329.09

Activity Summary on Board EQTY

Quantity Traded 23,325 23,325

464

Quantity Traded 56,793 174,497 224,600 4,002,039

Symbol ASHAKACEM

Materials Published byBuilding The Nigerian Stock Exchange ©

Current Price 90.00

Daily Summary (Equities)

Current Price 70.00 1.72 1.38

64

ICT Totals

Daily Summary as of 14/04/2014 Printed INDUSTRIAL 14/04/2014 14:36:21.021 GOODS

No. of Deals 17 17

FINANCIAL SERVICES Totals HEALTHCARE Healthcare Providers EKOCORP PLC. Healthcare Providers Totals

Current Price 0.50

No. of Deals 19 21 7 63

HEALTHCARE Totals

Symbol 7UP

CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC Daily Summary as of 14/04/2014 STERLING BANK PLC. Printed 14/04/2014 14:36:21.021 UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. WEMA BANK PLC. ZENITH INTERNATIONAL BANK PLC Banking Totals

No. of Deals 2 2

Symbol GLAXOSMITH MAYBAKER NEIMETH

11

of

OIL AND GAS OIL AND GAS Totals

1

5,000

2,500.00

ASeM Board Totals

1

5,000

2,500.00

Equity Activity Totals

3,667

188,237,163

1,523,285,890.14

12

Daily Summary (ETP) Exchange Traded Fund

Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol NEWGOLD VETGRIF30

No. of Deals 1 3 4

Current Price 2,069.00 17.56

Quantity Traded 25 5,020 5,045

Value Traded 51,725.00 88,151.20 139,876.20

ETF Board Totals

4

5,045

139,876.20

ETP Activity Totals

4

5,045

139,876.20

12

Published by The Nigerian Stock Exchange ©

Page

12

of

12


BUSINESS | FINANCIAL MARKET NEWS 47

Sanctity of Truth

Tuesday, April 15, 2014

FMDQ Daily Quotations List

14-Apr-14

The FMDQ Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and instruments in the OTC market. The use of this report is subject to the FMDQ OTC PLC Terms of Use and Disclaimer Statement.

Bonds

FGN Bonds Issuer

Rating/Agency

NA

NA

Description

Price

Issue Date

Coupon (%)

Outstanding Value (N'bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

29-Jun-07 28-Sep-07 23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

9.20 9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00

45.00 100.00 535.00 327.47 452.80 20.00 100.00 300.00 351.30 233.90 600.00 50.00 75.00 150.00 200.00 591.57

29-Jun-14 28-Sep-14 23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

0.21 0.46 1.02 2.34 3.04 3.29 3.38 4.13 5.21 5.53 7.79 9.92 14.62 15.10 15.60 16.27

12.17 12.89 13.54 13.10 13.15 13.02 13.02 13.02 13.09 13.01 13.05 13.05 13.35 13.38 13.42 13.52

11.45 12.54 13.36 13.03 13.03 12.90 12.90 12.92 13.01 12.92 13.00 13.00 13.30 13.33 13.35 13.47

99.33 98.41 91.15 99.85 104.75 91.69 90.18 92.74 110.70 76.83 115.95 106.25 110.48 94.25 68.16 77.00

99.48 98.56 91.30 100.00 105.05 91.99 90.48 93.04 111.00 77.13 116.25 106.55 110.78 94.55 68.46 77.30

9.20 29-JUN-2014 9.25 28-SEP-2014 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

TOTAL OUTSTANDING VALUE

4,132.04

Rating/Agency

Issuer

Agency Bonds AMCON FMBN

NA

***LCRM

Description

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

TOTAL OUTSTANDING VALUE

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

Valuation Yield (%)

Indicative Price

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

0.00 0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

978.35 24.56 6.00 112.22 116.70 66.49

31-Oct-14 24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

0.55 1.11 1.59 2.66 3.02 3.23

1.00 2.63 2.27 2.00 1.49 1.00

14.05 16.13 15.59 15.07 14.52 14.02

92.88 84.17 102.30 92.35 89.62 88.20

05-Aug-14 15-Oct-14 31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20 27-Nov-20 31-Dec-20 06-Jan-21

0.31 0.50 1.38 0.98 1.28 1.29 3.01 1.85 3.72 2.69 4.47 2.69 2.69 3.27 3.34 5.61 3.30 4.01 6.62 4.02 4.06

4.88 5.99 4.44 3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.44 1.95

17.17 18.99 17.84 16.76 17.90 16.92 18.62 20.82 14.81 14.87 14.02 14.07 14.28 14.02 15.48 14.95 15.76 15.76 14.00 14.46 14.97

98.93 97.71 93.67 96.88 95.85 98.75 80.78 89.74 97.68 98.25 99.94 101.11 109.45 101.24 100.08 98.29 97.57 97.17 97.83 106.89 106.55

07-Oct-14 18-Dec-14

0.48 0.68

1.00 5.21

13.93 18.40

98.89 96.93

1,304.32

Sub-National Bonds A/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A/Agusto A-/GCR

KWARA NIGER KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS *EKITI *NASARAWA

14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 30-SEP-2020 13.50 LAGOS IV 27-NOV-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

05-Aug-09 15-Oct-09 31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 30-Sep-13 27-Nov-13 31-Dec-13 06-Jan-14

14.00 14.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 14.50 15.00

TOTAL OUTSTANDING VALUE

567.90

Corporate Bonds A+/Agusto; AA/GCR Aa/Agusto Nil

LAFARGE WAPCO GTB µ NGC

Bbb-/Agusto A-/Agusto BB+/GCR A+/Agusto; A-/GCR

*UPDC *FLOURMILLS *CHELLARAMS

A-/Agusto

FSDH UBA

A/GCR BBB-/GCR BBB+/DataPro†; BB+/GCR A-/DataPro†; BB-/GCR AAA/DataPro†; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB+/GCR A+/Agusto; A-/GCR

NAHCO

11.50 LAFARGE WAPCO 7-OCT 2014 13.50 GUARANTY TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014 10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016

*C & I LEASING # *DANA *TOWER#

13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018

UBA

MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

*TOWER

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00

#

15.75 LA CASERA 18-OCT-2018

NAHCO

15.25 NAHCO II 14-NOV-2020

IFC

10.20 IFC 11-FEB-2018

07-Oct-11 18-Dec-09

11.50 13.50

11.80 13.17

01-Apr-10

17.00

2.00

31-Dec-14

0.72

8.71

21.94

96.79

17-Aug-10

10.00

15.00

17-Aug-15

0.86

4.88

18.27

93.77

09-Dec-10 06-Jan-11 29-Sep-11

12.00 14.00 13.00

37.50 1.50 15.00

09-Dec-15 06-Jan-16 29-Sep-16

0.94 1.02 2.46

1.00 2.63 1.00

14.48 16.17 14.10

98.00 98.37 97.77

25-Oct-13

14.25

5.53

25-Oct-16

2.53

1.34

14.43

99.62

30-Sep-10 30-Nov-12

13.00 18.00

20.00 0.94

30-Sep-17 30-Nov-17

3.46 2.08

4.52 1.88

17.54 15.03

88.55 106.31

09-Apr-11

16.00

8.01

09-Apr-18

2.24

3.48

16.61

98.97

09-Sep-11 09-Sep-11 22-Sep-11

18.00 16.00 14.00

3.63 1.00 35.00

09-Sep-18 09-Sep-18 22-Sep-18

2.40 2.40 4.44

5.20 5.06 3.06

18.31 18.17 16.08

99.65 101.89 93.56

18-Oct-13

15.75

3.00

18-Oct-18

2.26

2.29

15.42

100.67

17-Feb-12 14-Nov-13

17.00 15.25

0.54 2.05

17-Feb-19 14-Nov-20

2.60 6.59

6.11 2.76

19.19 15.76

96.07 97.90

11-Feb-18

3.83

1.00

14.02

88.93

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

175.67

Supranational Bond AAA/S&P

11-Feb-13

10.20

TOTAL OUTSTANDING VALUE Rating/Agency

12.00

12.00 Issuer

Description

Issue Date

Coupon (%)

Issue Value ($'mm)

FGN Eurobonds

Prices & Yields

BB-/Fitch; B+/S&P BB-/Fitch; BB-/S&P BB-/Fitch; BB-/S&P

FGN

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

5.31

5.16

108.10

108.97

5.13 JUL 12, 2018

18-Dec-09

5.13

500.00

12-Jul-18

4.45

4.27

102.56

103.29

6.38 JUL 12, 2023

01-Apr-10

6.38

500.00

12-Jul-23

5.73

5.60

104.60

105.53

TOTAL OUTSTANDING VALUE

1,500.00

Corporate Eurobonds Afren PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.80

3.25

113.18

114.21

GTBank PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

5.17

4.55

104.55

105.82

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.11

5.82

99.58

100.72

B+/S&P

Access Bank PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

6.98

6.46

100.77

102.30

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.40

7.91

94.84

96.46

B/Fitch

Afren PLC II

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

5.09

4.69

114.22

115.04

B-/S&P; B/Fitch B+/S&P; B+/Fitch


NA

15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

NA

27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00

TOTAL OUTSTANDING VALUE

48 BUSINESS | FINANCIAL MARKET NEWS

Rating/Agency

Description

Issuer

452.80 20.00 100.00 300.00 351.30 233.90 600.00 50.00 75.00 150.00 200.00 591.57

27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

3.04 3.29 3.38 4.13 5.21 5.53 7.79 9.92 14.62 15.10 15.60 16.27

13.15 13.02 13.02 13.02 13.09 13.01 13.05 13.05 13.35 13.38 13.42 13.52

AMCON FMBN

NA

Chris Ugwu

***LCRM

TOTAL OUTSTANDING VALUE

T

Sub-National Bonds he NSE ASI

dipped by 25 KWARA basis points as sell presNIGER KADUNA sure dominated trading *EBONYI activities in the Nigerian *BENUE bourse yesterday. *IMO LAGOS Financial services stocks *BAYELSA A/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A/Agusto A-/GCR

EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS *EKITI *NASARAWA

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

declined as the NSE Banking Index fell by 8bps and the NSE Insurance Index fell by 40 basis points. 14.00 KWARA 5-AUG-2014 However, the NSE Oil/Gas 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 Index rose 462 basis points as oil 13.00 EBONYI 30-SEP-2015 marketing stock, 14.00 BENUE 30-JUN-2016Forte Oil, rose 15.50 IMO 30-JUN-2016 by the daily maximum limit. 10.00 LAGOS 19-APR-2017 Leading the gainers, major 13.75 BAYELSA 30-JUN-2017 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 14.50 15.00

EDO 31-DEC-2017 DELTA 30-SEP-2018 NIGER II 4-OCT-2018 EKITI 09-DEC-2018 NIGER III 12-DEC-2018 ONDO 14-FEB-2019 GOMBE 02-OCT-2019 LAGOS 22-NOV-2019 OSUN 12-DEC-2019 OSUN II 30-SEP-2020 LAGOS IV 27-NOV-2020 EKITI II 31-DEC-2020 NASARAWA 06-JAN-2021

COMMENDATION

Shareholders lauds GTB over results

TOTAL OUTSTANDING VALUE Corporate Bonds

S

WAPCO hareholders ofLAFARGE Guaranty GTB Trust Bank Plc yesterday NGC Nil Bbb-/Agusto *UPDC approved the company’s A-/Agusto *FLOURMILLS final dividend of 170 kobo for BB+/GCR *CHELLARAMS A+/Agusto; A-/GCR NAHCO every share of 50 kobo for the A-/Agusto FSDH A/GCR financial year ended DecemUBA BBB-/GCR *C & I LEASING ber 31, 2013, even as the bank BBB+/DataPro†; BB+/GCR *DANA A-/DataPro†; BB-/GCR assured of steady*TOWER growth in AAA/DataPro†; A+/GCR *TOWER profitability and expansion. A/Agusto; A/GCR UBA Bbb+/Agusto; BBB+/GCR Coordinator, *LA CASERA The National BBB-/DataPro†; BB+/GCR *CHELLARAMS Independent Shareholders AsA+/Agusto; A-/GCR NAHCO TOTAL OUTSTANDING VALUE sociation of Nigeria (ISAN), Sir Sunny Nwosu, who commended Supranational Bond AAA/S&P IFC the bank for the dividend payTOTAL OUTSTANDING VALUE out, said that the shareholders wereRating/Agency appreciative of the efforts Issuer which the staff and manageFGN Eurobonds ment put in place to drive the BB-/Fitch; B+/S&P bank for increased return on A+/Agusto; AA/GCR Aa/Agusto

µ

#

# #

#

BB-/Fitch; BB-/S&P BB-/Fitch; BB-/S&P

FGN

5.13 JUL 12, 2018 6.38 JUL 12, 2023

Sanctity of Truth

#

Tuesday, April 15, 2014

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

0.00 0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

978.35 24.56 6.00 112.22 116.70 66.49

31-Oct-14 24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

0.55 1.11 1.59 2.66 3.02 3.23

1.00 2.63 2.27 2.00 1.49 1.00

14.05 16.13 15.59 15.07 14.52 14.02

92.88 84.17 102.30 92.35 89.62 88.20

30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 30-Sep-13 27-Nov-13 31-Dec-13 06-Jan-14

14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 14.50 15.00

25.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00

31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20 27-Nov-20 31-Dec-20 06-Jan-21

3.72 2.69 4.47 2.69 2.69 3.27 3.34 5.61 3.30 4.01 6.62 4.02 4.06

1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.44 1.95

14.81 14.87 14.02 14.07 14.28 14.02 15.48 14.95 15.76 15.76 14.00 14.46 14.97

97.68 98.25 99.94 101.11 109.45 101.24 100.08 98.29 97.57 97.17 97.83 106.89 106.55

18-Dec-09

5.13

500.00

12-Jul-18

4.45

4.27

102.56

103.29

01-Apr-10

6.38

500.00

12-Jul-23

5.73

5.60

104.60

105.53

marketer of refined petroleum products, Forte Oil, firmed up by N13.72 to close at N148.99 per share. Similarly, flour millers, 05-Aug-09 14.00 Dangote Flour Mills and Hon15-Oct-09 14.00 31-Aug-10 12.50 eywell Flour Mills, gained N0.20 30-Sep-10 13.00 and N0.17 to close at N8.30 and 30-Jun-11 14.00 15.50 N3.7130-Jun-09 respectively , while finan19-Apr-10 10.00 13.75 cial 30-Jun-10 services providers, First

Bank Holding and UBA Plc, rose by N0.15 each to close at 1,304.32 N12.40 and N7.05 respectively. Downstream petroleum 17.00 05-Aug-14 0.31 marketers, Consolidated Oil, 6.00 15-Oct-14 0.50 8.50 31-Aug-15 Mobil Nigeria and Oando,1.38 lost 16.50 30-Sep-15 0.98 N2.59, N1.99 and N0.66 to close 13.00 30-Jun-16 1.28 18.50 30-Jun-16 1.29 at N49.31, N122.00 and N15.30 57.00 19-Apr-17 3.01 50.00 1.85 respectively. 30-Jun-17 Similarly, banking

Valuation Yield (%)

Indicative Price

majors, Guaranty Trust Bank and Access Bank shed N0.48 and N0.18 to close at N27.00 and N7.60 respectively while makers 4.88 17.17 98.93 of 5.99 building materials, Ashaka 18.99 97.71 4.44 17.84 93.67 Cement and Cement Company 3.23 16.76 96.88 of 4.46 Northern Nigeria, retreated 17.90 95.85 16.92 98.75 by 3.48 N0.22 and N0.11 to N16.40 and 5.59 18.62 80.78 7.60 respectively 20.82 . 89.74 N9.10

NSE admits Seplat’s shares on daily official list Chris Ugwu

the number of countries where he daily official list of the the bank has business operaNigerian Stock Exchange tions to ten. swelled yesterday with the “The contributions of our listing of Seplat Petroleum subsidiaries to the group’s 567.90 bottom line remained strong Development Company Plc’s 07-Oct-11 11.50 07-Oct-14 0.48 shares. during review period and they 11.80 18-Dec-09 13.50 13.17 18-Dec-14 0.68 The stock exchange listed continued to play an important 01-Apr-10 17.00 2.00 31-Dec-14 0.72 10.00 15.00 17-Aug-15 0.86 the company’s 543,284,130 part17-Aug-10 in our quest to emerge as 09-Dec-10 12.00 37.50 09-Dec-15 0.94 at N576 per share. the 06-Jan-11 foremost and 14.00 dominant shares 1.50 06-Jan-16 1.02 29-Sep-11 13.00 15.00 29-Sep-16 2.46 as the listing bank25-Oct-13 in Africa in the medium 5.53It was historic 14.25 25-Oct-16 2.53 30-Sep-10 13.00 20.00 30-Sep-17 3.46in occured simultaneously term,” he said. 30-Nov-12 18.00 0.94 30-Nov-17 2.08 both London Stock Exchange Imomoh noted that the bank 09-Apr-11 16.00 8.01 09-Apr-18 2.24 18.00 on im3.63 09-Sep-18 and the Nigerian Stock2.40 Exwill 09-Sep-11 continue to focus 09-Sep-11 16.00 1.00 09-Sep-18 2.40 change. proving its customer experi22-Sep-11 14.00 35.00 22-Sep-18 4.44 15.75 at the listing2.26 cerences18-Oct-13 and seek innovative ways 3.00Speaking 18-Oct-18 17-Feb-12 17.00 0.54 17-Feb-19 2.60 emony on the floor of the Niof growing its business. 14-Nov-13 15.25 2.05 14-Nov-20 6.59 geria Stock Exchange, chair“We poised to take advantage 175.67 of all the opportunities that man of the company, Dr. ABC 11-Feb-13 Orjiako said11-Feb-18 the company3.83 was would arise during 10.20 the course 12.00 of the year and are committed 12.00 happy witnessing an era herto maintain alding dual Issue Date our position Coupon (%) as the Issue Value ($'mm) a simultaneous Maturity Date Bid Yield (%) bank of choice for discerning listing on both exchanges. customers in all economies we “We are happy that Seplat 07-Oct-11 6.75 500.00 28-Jan-21 5.31 operate in,” he said. brand will continue to blasé

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

105.05 91.99 90.48 93.04 111.00 77.13 116.25 106.55 110.78 94.55 68.46 77.30

Risk Premium (%)

Shareholders approve GTB’s 170k dividend investment. Also, President of Shareholders United Front, Mr. Ggbenga Idowu, also applauded the account performance of the bank adding that the current 11.50 LAFARGE WAPCO 7-OCT 2014 leadership has proved that it is 13.50 GUARANTY TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014 capable of driving the bank to 10.00 UPDC 17-AUG-2015 greater heights. 12.00 FLOURMILLS 9-DEC-2015 14.00 A CHELLARAMS review of06-JAN-2016 the bank’s fi13.00 NAHCO 29-SEP-2016 nancial performance shows a 14.25 FSDH 25-OCT-2016 13.00to UBA 30-SEP-2017 cost income ratio of 43.5 per 18.00 C&I LEASING 30-NOV-2017 cent making it one of the most MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 efficient financial institutions MPR+5.25 TOWER 9-SEP-2018 in14.00 theUBA country . II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 Speaking at the bank’s 24th MPR+5.00 CHELLARAMS II 17-FEB-2019 annual general meeting, Chair15.25 NAHCO II 14-NOV-2020 man of the bank, Mr. Egbert Imomoh, told shareholders that 10.20 IFC 11-FEB-2018 the bank was able to increase its African foot print and expand into Kenya, Rwanda Descriptionand Uganda via the purchase of a 70 per cent equity stake in Fina Bank. 6.75 JAN 28, 2021 He noted that this increased

104.75 91.69 90.18 92.74 110.70 76.83 115.95 106.25 110.48 94.25 68.16 77.00

4,132.04

Stock market closes flat on sell pressure Agency Bonds

13.03 12.90 12.90 12.92 13.01 12.92 13.00 13.00 13.30 13.33 13.35 13.47

T

the trail to lead others in this yet another achievement. We are also glad that we are doing this when Nigeria is becoming the largest economy in the continent. Minister of trade and tour1.00 13.93 98.89 ism, Olusegun Aganga, who 5.21 18.40 96.93 commended the company 8.71 21.94 96.79said 4.88 18.27 93.77 that it has made history being 1.00 14.48 98.00 the2.63first Nigeria indigenous 16.17 98.37 1.00 14.10 97.77 company to achieve dual list1.34 14.43 99.62 17.54 88.55 ing4.52 simultaneously . 1.88 15.03 106.31 “They have been able to 3.48 16.61 98.97 5.20 18.31 attract investors close99.65 to 300 5.06 18.17 101.89 across the globe. We are glad 3.06 16.08 93.56 2.29part of this 15.42 feat,” he 100.67 to be said. 6.11 19.19 96.07 Speaking in vein, 2.76 15.76the same 97.90 the chief executive officer of the Nigeria Stock Exchange, 14.02 88.93also Mr.1.00Oscar Onyema, who lauded the action of the company,Yield said the has Offer (%) that Bid Priceexchange Offer Price continuously strive to attract Prices & Yields major players in the economy 5.16 108.10 108.97 to list shares.

1,500.00

14-Apr-14

The FMDQEurobonds Daily Quotations Corporate

the FMDQ B-/S&P; B/FitchOTC

List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and instruments in the OTC market. The use of this report is subject to and Disclaimer Statement. PLC Terms of Use 11.50 FEB 01, 2016 01-Feb-11 11.50 450.00 01-Feb-16 Afren PLC I 3.80 3.25 113.18 114.21 GTBank PLC I

7.50 MAY 19, 2016

19-May-11

FGN Bonds B+/S&P

GTBank PLC II

6.00 NOV 08, 2018

08-Nov-13

Access Bank PLC

7.25 JUL 25, 2017

B/S&P; B/Fitch

Fidelity Bank PLC

6.88 MAY 09, 2018

B/S&P; B-/Fitch

First Bank PLC

B+/S&P; B+/Fitch

Afren PLC III

B+/S&P; B+/Fitch

B/FitchRating/Agency

Afren PLCIssuer II

TOTAL OUTSTANDING VALUE **Treasury Bills DTM 10 24 31 NA 38 45 52 66 73 80 87 94 101 108 115 TOTAL OUTSTANDING 122 129 143 178 Rating/Agency 234 269 283 Agency Bonds 297 311 325 360 NA

Maturity 24-Apr-14 8-May-14 15-May-14 NA 22-May-14 29-May-14 5-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 VALUE 7-Aug-14 14-Aug-14 21-Aug-14 4-Sep-14 9-Oct-14 Issuer 4-Dec-14 8-Jan-15 22-Jan-15 5-Feb-15 AMCON 19-Feb-15 5-Mar-15 FMBN 9-Apr-15

Description

Issue 10.25 APR 08, 2019

Date

8.25 AUG 07, 2020

9.20 29-JUN-20146.63 DEC 09, 202029-Jun-07 9.25 28-SEP-2014 28-Sep-07 4.00 23-APR-2015 23-Apr-10 13.05 16-AUG-2016 16-Aug-13 15.10 27-APR-2017 27-Apr-12 Bid Discount (%) Offer Discount (%) 9.85 27-JUL-2017 27-Jul-07 12.15 11.90 9.35 31-AUG-2017 31-Aug-07 11.40 11.15 11.10 10.85 10.70 30-MAY-2018 30-May-08 12.05 11.80 16.00 29-JUN-2019 29-Jun-12 12.20 11.95 7.00 23-OCT-2019 23-Oct-09 12.00 11.75 16.39 27-JAN-2022 27-Jan-12 12.10 11.85 14.20 14-MAR-2024 14-Mar-14 12.40 12.15 12.00 11.75 15.00 28-NOV-2028 28-Nov-08 11.05 10.80 12.49 22-MAY-2029 22-May-09 11.90 11.65 8.50 20-NOV-2029 20-Nov-09 11.95 11.70 10.00 23-JUL-2030 23-Jul-10 12.20 11.95 11.80 11.55 12.30 12.05 12.25 12.00 12.10 11.85 12.20 Description 11.95 11.85 11.60 12.05 11.80 12.10 11.85 12.35 0.00 AMCON 31-OCT-2014 (SR.5 TR.1)12.10 12.40 12.15 0.00 FMB 12.20 24-MAY-2015 11.95 17.25 FMB12.30 II 03-APR-2017 12.05

0.00/16.00 LCRM 09-DEC-2016

***LCRM 0.00/16.50 LCRM II 20-APR-2017 *from the Amortising bonds, the average life is calculated and not the duration

0.00/16.50 LCRM III 06-JUL-2017 Risk Premium is a combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills TOTAL OUTSTANDING VALUE #

Bonds

7.50

500.00

19-May-16

5.17

4.55

104.55

6.00

400.00

08-Nov-18

6.11

5.82

99.58

25-Jul-12

7.25

350.00

25-Jul-17

6.98

6.46

100.77

09-May-13

6.88 Outstanding Value 10.25 (N'bn)

300.00

02-May-18

8.40

Offer7.91 Yield 4.69 (%)

94.84

Coupon (%) 08-Apr-12 07-Aug-13

9.20 9.25 4.00 13.05 15.10 Bid Yield (%) 9.85 12.19 9.35 11.49 11.21 10.70 12.20 16.00 12.39 7.00 12.21 16.39 12.37 14.20 12.72 12.32 15.00 11.35 12.49 12.28 8.50 12.36 10.00 12.66 09-Dec-13

12.26 12.83 12.80 12.70 12.97 Issue Date 12.82 13.22 13.35 13.73 28-Dec-11 13.86 24-May-10 13.69 03-Apr-12 14.00

09-Dec-11 20-Apr-12 06-Jul-12

8.25

Maturity Date 300.00

TTM (Yrs) 08-Apr-19

Bid Yield 5.09 (%)

300.00

07-Aug-20

7.15

45.00 29-Jun-14 6.63 360.00 100.00 28-Sep-14 2,960.00 535.00 23-Apr-15 327.47 FIXINGS 16-Aug-16 452.80 27-Apr-17 NIBOR 20.00 27-Jul-17 Tenor Rate (%) 100.00 31-Aug-17 CALL 10.8333 7300.00 DAYS 11.1250 30-May-18 30 DAYS 11.4167 351.30 29-Jun-19 60 DAYS 11.7500 233.90 23-Oct-19 90 DAYS 12.0833 600.00 27-Jan-22 180 DAYS 12.3750 50.00 14-Mar-24 365 DAYS 12.7083 75.00 28-Nov-28 150.00 22-May-29 NITTY 200.00 20-Nov-29 Tenor Rate (%) 591.57 23-Jul-30 1M 11.9520

0.21 12.17 6.25 0.46 12.89 1.02 13.54 2.34 Money Market13.10 3.04 13.15 Tenor Rate (%) 3.29 13.02 OBB 10.25 3.38 13.02 4.13 13.02 O/N 10.50 5.21 13.09 REPO 5.53 13.01 Tenor Rate (%) 7.79 13.05 Call 10.25 9.92 13.05 1M 11.08 3M 12.17 14.62 13.35 6M 12.50 15.10 13.38 15.60 13.42 NOTE: 16.27 13.52 09-Dec-20

6.71

:Benchmarks 12.1617 12.1975 * :Amortising Bond 12.9207 µ :Convertible Bond # 13.2135 Risk AMCON: Asset Management Corporation of Nigeria Avg.ofLife/TTM 13.9941(N'bn) FGN: FederalDate Government Nigeria (%) Issue Value Maturity Premium (Yrs) FMBN: Federal Mortgage Bank of Nigeria (%) IFC: International Finance Corporation LCRM: Local Contractors Receivables Management NIFEX NAHCO: Nigerian Aviation Handling Company 0.00Current Price ($/N) 978.35 31-Oct-14 0.55 1.00 NGC: Nigeria-German Company 24.56 2.63 BID($/N) 0.00 161.0125 UBA: 24-May-15 United Bank for Africa 1.11 17.25 6.00 1.59 Company 2.27 OFFER ($/N) 161.1125 UPDC:03-Apr-17 UAC Property Development WAPCO:West Africa Portland2.66 Cement Company 0.00/16.00 112.22 09-Dec-16 2.00 3M 6M 9M 12M Coupon

116.70 66.49

20-Apr-17 06-Jul-17

100.72 102.30 96.46

Bid Price 114.22

Offer Price 115.04

103.99

105.67

11.45 99.33 99.48 6.00 101.49 102.49 12.54 98.41 98.56 13.36 91.15 91.30 13.03 99.85 100.00 Foreign Exchange (Spot & Forwards) 13.03 104.75 105.05 12.90 91.69 91.99 Tenor Bid ($/N) Offer ($/N) 12.90 90.18 90.48 Spot 160.94 161.04 12.92 92.74 93.04 7D 161.20 161.47 13.01 110.70 111.00 14D 161.45 161.83 12.92 76.83 77.13 1M 162.03 162.74 13.00 115.95 116.25 2M 163.22 164.57 13.00 106.25 106.55 3M 164.44 166.40 6M 168.06 172.25 13.30 110.48 110.78 1Y 175.01 184.04 13.33 94.25 94.55 13.35 68.16 68.46 13.47 77.00 77.30

2M 4,132.04

0.00/16.50 0.00/16.50

105.82

Price

3.02 3.23

1.49 1.00

0.31 0.50 1.38 0.98 Implied Yield 1.28 1.29 3.01 13.13 1.85 13.06 3.72 13.52 2.69 13.27 4.47 2.69 2.69 3.27 3.34 5.61 3.30 4.01 6.62 4.02 4.06

4.88 5.99 4.44 3.23 Implied Portfolio 4.46 Price 3.48 5.59 110.3997 7.60 123.1929 1.79 84.3309 1.80 109.0002 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.44 1.95

NA :Not Applicable # :Floating Rate Bond ***: Deferred coupon bonds

Valuation Yield (%)

Indicative Price

14.05 16.13 15.59 15.07 14.52 14.02

92.88 84.17 102.30 92.35 89.62 88.20

†: Bond rating expired

1,304.32

Sub-National Bonds A/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A/Agusto A-/GCR

KWARA NIGER KADUNA *EBONYI Modified Duration *BENUEBuckets *IMO <3 LAGOS *BAYELSA3<5 >5 EDO *DELTA Market

14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00Porfolio EBONYIMarket 30-SEP-2015 Total Outstanding Value(Bn) Volume(Bn) 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 801.29 780.27 10.00 LAGOS 19-APR-2017 1,084.59 951.30 13.75 BAYELSA 30-JUN-2017 455.51 591.57 14.00 EDO 31-DEC-2017 2,341.38 2,323.14 14.00 DELTA 30-SEP-2018

NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS *EKITI *NASARAWA

14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 30-SEP-2020 13.50 LAGOS IV 27-NOV-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

05-Aug-09 14.00 17.00 FMDQ FGN BOND INDEX 15-Oct-09 14.00 6.00 31-Aug-10 12.50 8.50 30-Sep-10by 13.00by Mkt 16.50 Weighting Weighting Bucket Weighting Outstanding Value 30-Jun-11Vol 14.00 13.00 30-Jun-09 15.50 18.50 19-Apr-10 10.00 34.22 57.00 0.34 33.59 30-Jun-10 13.75 46.32 50.00 0.41 40.95 30-Dec-10 14.00 19.45 25.00 0.25 25.46 30-Sep-11 14.00100.00 50.00 1.00 100.00 04-Oct-11 14.00 9.00 09-Dec-11 14.50 20.00 12-Dec-13 14.00 12.00 14-Feb-12 15.50 27.00 02-Oct-12 15.50 20.00 22-Nov-12 14.50 80.00 12-Dec-12 14.75 30.00 30-Sep-13 14.75 11.40 27-Nov-13 13.50 87.00 31-Dec-13 14.50 5.00 06-Jan-14 15.00 5.00

05-Aug-14 15-Oct-14 31-Aug-15 %30-Sep-15 Exposure_ Mod_Duration 30-Jun-16 30-Jun-16 19-Apr-1717.40 30-Jun-1741.00 31-Dec-17 41.60 30-Sep-18 100.00 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20 27-Nov-20 31-Dec-20 06-Jan-21

17.17 18.99 17.84 16.76 INDEX 17.90 16.92 18.62 1,048.57 20.82 1,043.15 14.81 1,020.89 14.87 1,034.27 14.02 14.07 14.28 14.02 15.48 14.95 15.76 15.76 14.00 14.46 14.97

98.93 97.71 93.67 96.88 YTD Return (%) 95.85 98.75 80.78 4.8573 89.74 4.3151 97.68 2.0894 98.25 3.4270 99.94 101.11 109.45 101.24 100.08 98.29 97.57 97.17 97.83 106.89 106.55


BUSINESS | MONEY LINE 49

Sanctity of Truth

Tuesday, April 15, 2014

UBA, GTB, Ecobank suffer loses in Kenyan market to sail in rough waters locally. According to the report, UBA Kenya made a net loss of Sh272 million in the period to December 2013, continuing its loss-making streak since it set up shop in Kenya in 2009. Ecobank Kenya was Sh881 million in the red last year compared with the Sh1.05 billion loss posted in 2012, weighed down by lower interest income and increased operating expenses. It was revealed that the poor show prompted Ecobank to turn to its parent Ecobank Transnational Incorporated (ETI) for additional capital totalling Sh2.1 billion to finance the rollout of new branches and increase lending capacity as it races to spring back to profitability. Also, Guaranty Trust (GT) Bank’s Kenyan, a subsidiary of GTB in Nigeria reported a 45 per cent drop in net profit to Sh253 million last year from Sh466 million in 2012. GT Bank in July last year acquired a 70 per cent stake in Fina Bank for $100 million (Sh8.6 billion), with an eye on the East African community given that the Kenyan bank had operations in Rwanda and Uganda. The Mali -based Bank of Af-

ROUGH WATERS Nigerian banks are experiencing qualms in Kenya. Bayo Akomolafe

T

hree banks, United Bank for Africa, Ecobank and Guaranty Trust Bank are facing hard times in Kenya over financial losses incurred from lower interest income and increased operating expenses. Management experts attributed their failures to overreliance on expatriates from their headquarters to run Nairobi operations, resulting in a culture gap. “The cultural differences may have affected their market strategies, products and services as well as their adaption in the Kenyan market,” said David Muturi, the chief executive of the Kenya Institute of Management (KIM). It was learnt that UBA recorded its fifth consecutive loss last year while Togo-based Ecobank was firmly in the red for the second year running as West African lenders continue

rica (BoA) also saw its net profit for the Kenyan unit dip nearly two-thirds to Sh436 million last year, having made Sh702 million in 2012. “They are yet to gain traction in the Kenyan market given that they are new entrants in a very competitive banking market. “The West African banks are up against established players,” said Francis Mwangi, an analyst at the Standard Investment Bank. Ecobank Kenya’s net interest income increased 21 times to hit Sh901 million last year, while UBA’s grew nearly six fold

U

nfit and dirty notes have remained in circulation because banks failed to invest in currency sorting, the Central Bank of Nigeria (CBN) has said. CBN spokesperson, Mr. Isaac Okoroafor said this at the Spring Meeting of the World Bank and International Monetary Fund in Washington DC. He also denied that the apex bank was charging commercial banks for the replacement of

As at N14,737,618.7m N16,509,472.5m 8 0.0000 12 10.899 7.96 17.01 US$109.9 US$42,604,781,796.6

Description

TTM

4.00% 23-Apr-2015 13.05% 16-Aug-2016 15.10% 27-Apr-2017 16.00% 29-Jun-2019 16.39% 27-Jan-2022 10.00% 23-Jul-2030

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500

NIBOR

Dec, 2013 Dec, 2013 Dec, 2013 2/5/2014 1/20/2014 11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 2/5/2014 Source:CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

Treasury Bills Maturity Date 08-May-14 07-Aug-14 22-Jan-15

Bid 12.10 12.10 12.05

FX

Bid Spot ($/N) 163.28 THE FIXINGS –NIBOR,NITTY and NIFEX of February 6,2014

NITTY

Yield 12.86 13.33 13.35 13.42 13.38 13.53

Offer 163.38

Open-Buy-Back (OBB) Overnight (O/N)

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

unfit notes. “What is happening now is that banks have failed to make the needed investments in currency sorting and therefore resorting to recirculating unfit notes. “I can assure you that in due course, something will be done to check this,” he said. Okoroafor explained that the CBN does not charge Deposit Money Banks (DMBs), for currency sorting services for pecuniary benefits.
“The CBN does not impose any charges on DMBs for currency Sorting Services for the purpose of pecuniary benefits, he said. “Instead, it is the responsibility of each bank, as it is the practice world over, to sort its own currency notes appropriately into ‘fit and unfit’ categories before lodging them to CBN.” He said that if any bank failed to perform the responsibility of sorting the notes, the apex bank would do the service on behalf of the bank. This, he said, would attract a legitimate but paltry charge of N12,000 per box of the currency.

Offer 163.5000 Source: FMDQ

Acting CBN Governor, Sarah Alade

“And one box of Naira for N1,000 denomination is about 10 thousand pieces and the value is N10 million. “If banks lodge money with us that they have sorted we don’t impose any charge upon that,” he said. On the shortage of lower naira denominations, Okoroafor said that the banking watchdog had directed its branches across the country to deal directly with the public, including business owners, in an effort to resolve a lingering scarcity of lower denominations of the naira. He said that there was sufficient supply of lower currency currently in the commercial banks.

Naira trades flat against U.S. dollar

T

Money Market Offer 11.85 11.85 11.80

as MD for the local unit. Kassi succeeded Anthony Okpanachi from Nigeria who was at the helm since its entry. GT Bank in January appointed Nigerian Adekunle Sonola as CEO. Ghanaian Kwame Ahadzi joined BOA Kenya as chief executive in April 2009. BoA started its local operations in 2004 after it acquired Credit Agricole Indosuez (K) Lim.ite Tunji Adeniyi, a Nigerian, is currently at the helm of UBA Kenya that set base in Kenya in 2009.

Why unfit, dirty notes are still in circulation, by CBN

Economic Indicators M2* CPS* INF IBR MPR 91-day NTB DPR PLR Bonny Light Ext Res**

to Sh121 million. But the gains were wiped out by surging operating expenses. GT Bank had its net interest income jump by a third to Sh1.8 billion compared with BoA's, which grew 12 per cent to Sh3.1 billion. Interestingly, these West African multinationals are some of the biggest and most profitable banks in their home markets. Ecobank, which entered the Kenyan market in mid-2008 when it acquired the loss-making EABS in May last year appointed Ivorian Ehouman Kassi

he Naira traded flat against the US dollar yesterday as lenders sold dollars on the interbank market to improve liquidity, shoring up the weakening local currency, dealers said. The Naira, according to Reuters, had initially weakened to N161.30 in mid-day trade before some lenders started to sell the greenback on behalf of offshore clients participating in the bond market. In addition, the local unit of Addax sold $10 million. The move helped the Naira recover to close flat at N161.05, compared to Friday’s close of

N161. “We don’t expect any major move in the naira this week as demand slows and offshore dollar flows into the market,” one dealer said, noting that the unit could trade around N1601N61.50 naira throughout the week. The Naira has hovered around N160.90-161 over the past week with renewed interest from offshore investors in Nigeria’s debt. Also, the stateowned energy firm, the Nigeria National Petroleum Corporation (NNPC) sold large amounts of dollars to increase liquidity.


50 WORLD | NEWS

Sanctity of Truth

Tuesday, April 15, 2014

Ex-Afghan minister leads early vote count in presidential election

I

n Afghanistan’s historic presidential election, former Foreign Minister Abdullah Abdullah is leading the early retur ns from last week’s voting, the country’s Independent Election Commission chairman has said. Abdullah has 41.9% of the vote, according to Ahmad Yousuf Nuristani, who cautioned that it was too early to tell if a single candidate would get the majority of the vote needed to win the presidency witout a runoff. Former Finance Minister Ashraf Ghani was second with 37.6% of the vote, officials said. Ballots are being hand-counted across the nation, and results will take time to tally. About 7 million Afghans voted in the elections on April 5, in the country’s first democratic transfer of presidential power, choosing a successor to outgoing President Hamid Karzai. He

is constitutionally required to step down. A large number of Afghans turned out last week, in the third election since the fall of the Taliban in 2001. Voter registration started almost a year ago and 2.5 million names were added to the electoral roll. According to the election commission, polling hours were extended to allow everyone in line to vote. “Today, I came here to select my next president and I hope whoever it is ... is a good person, who will help the people and bring changes to Afghanistan,” a voter at a polling station said. Another, in Kabul, said the president must secure the wartorn nation. “We need a good president so the bombings and war stops,” the voter said. “I want my children to go to school without fear.” While Afghans cast their ballots, there was heavy secu-

Pistorius breaks down on stand in murder trial

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he chief prosecutor in the murder trial of Oscar Pistorius yesterday accused him of tailoring his version of how he killed his girlfriend to fit evidence at the scene, exhaustively listing alleged inconsistencies in the athlete’s account of the fatal shooting of Reeva Steenkamp. The court temporarily adjourned late in the morning after the double-amputee runner started to sob while testifying about the moments before he killed Steenkamp in his home in the early hours of February 14, 2013. Chief prosecutor Gerrie Nel had asked him what exactly he shouted as he moved toward the bathroom where he shot Steenkamp, who was behind a closed door in the toilet cubicle. Pistorius said he thought there was an intruder in the house. After a long pause after the question, he said he screamed, using an expletive, for the purported intruder to get out of his house. As he testified, Pistorius began to wail and Judge Thokozile Masipa called an adjournment. Just over an hour later and after court resumed, Pistorius again broke down when replying to a question on why he had opened fire, causing a second adjournment.

The prosecution has said Pistorius’ account of a mistaken shooting is a lie. Nel opened the fourth day of cross-examination by alleging that Pistorius had “concocted” his account of the shooting. “You’re tailoring your version as you’re sitting there,” Nel said. Later, he accused Pistorius of being a stickler for detail on some matters, in contrast to his frequent statements on the witness stand that he could not remember aspects of his testimony. Nel noted that Pistorius earlier said he warned Steenkamp to call police about an intruder in a whisper, contradicting later testimony that he spoke in a “low tone” and the prosecutor also said blood spatter evidence indicated that the athlete’s statement about the location of a duvet in the bedroom was false. Pistorius has said the duvet was on the bed, and that police photographs of the bed cover on the floor suggest that police moved it there after the shooting. Nel said a pattern of blood drops on the duvet and on the carpet nearby show that it was on the floor before police arrived, and that its location amounts to evidence that the couple had been having an argument.

rity in the capital, Kabul, and throughout the nation. The Taliban had threatened to disrupt the process and punish all involved in the election. About 20 people were killed in violence across the country on Election Day, Afghan Interi-

or Minister Mohammad Umer Daudzai told reporters, and at least 43 people were wounded in attacks targeting voting centers. Most of the wounded, he said, were civilians. Abdullah told CNN’s Christiane Amanpour in February

that if he won the presidency, he would sign an agreement to keep international forces in Afghanistan and aid dollars coming into the nation. NATO troops are scheduled to draw down from Afghanistan by the end of the year.

L-R: Ex-spy chief in Muammar Gaddafi’s government, Abdullah al Senussi and Buzeid Dorda, ex-intelligence chief, sit behind bars during the hearing at a courtroom in Tripoli yesterday.

Libya starts trial of ex-Gaddafi officials, sons absent

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ibyan prosecutors opened the trial of deposed leader Muammar Gaddafi’s sons and more than two dozen of his ex-officials yesterday in a major test for the North African state’s transition to a democracy. Gaddafi’s sons Saadi Gaddafi and Saif al-Islam did not appear in the courtroom at Tripoli’s AlHadba prison, but the deposed ruler’s ex-spy chief Abdullah alSenussi was among the former senior officials sitting in blue jumpsuits behind a fenced-off section. The men face charges ranging

from corruption to war crimes related to the deaths during the 2011 uprising, which expanded into a civil war that eventually ousted Gaddafi. The former Libyan leader was later killed after being captured by rebels. Addressing the four judges, many of the defendants complained they had not been given access to lawyers or only saw them at court appearances. “I want to be treated like other prisoners. I want visiting rights. I don’t have a lawyer,” Senussi said. Prosecutors said Senussi had been allowed to see relatives, but denied lawyers had been pre-

vented from visiting their clients at the prison. Post-Gaddafi Libya has so far been defined by a weak interim government and growing unrest as former revolutionary fighters refuse to give up their weapons, and armed protesters blockade the country’s crucial oil exports. The trial began a day after interim prime minister Abdullah al-Thinni announced his resignation after an attack on his family and following the ousting of the previous prime minister barely a month ago.

No sign of crackdown as Ukraine deadline passes

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ro-Russian protesters forced policemen out of a building in an eastern Ukrainian city yesterday, even as a gover nment deadline for demonstrators to leave occupied facilities passed with no immediate consequences in two other cities. Video from a demonstration in the eastern Ukrainian

city of Horlivka showed protesters confronting police and walking through the building, which had small fires burning and broken windows. A severely beaten man in a police uniform was taken to an ambulance as onlookers shouted at him. The seizure is a new complication for the government in Kiev. Acting President Oleksandr Turchynov had

given pro-Russian protesters in other eastern Ukrainian cities until 2 a.m. ET to disarm or face a “fullscale anti-terrorist operation” by Ukraine’s armed forces. But the deadline passed with no sign that it was heeded in the eastern cities of Donetsk and Slaviansk. There was no movement at the regional government building in Donetsk, which has been occupied for more than a week.


Ngerem slams AFN over Greene’s appointment Charles Ogundiya

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former President of the Athletic Federation of Nigeria, Dan Ngerem, has slammed the executive board of the body

for appointing a retired US athlete, Maurice Greene, to coach Nigeria in the relays. In an exclusive interview with our correspondent, Ngerem said he was really worried about the future

SPORT

AUTHORITATIVE VOICE IN GLOBAL SPORT

of sports if the plan is to be employing expatriates to handle our sportsmen and women. “How can Maurice Greene be teaching Nigeria about relays? Is he a coach? Who has he coached?

53

Where are his athletes? What has his athletes won?” he queried. Describing the failure of the country to handle raw talents that abound in the country as pathetic, CONTINUED ON PAGE 55

Did you know?

NEW TELEGRAPH

newtelegraphonline.com/sports

ADEKUNLE SALAMI, DepUTY Editor, SPORTS kunle.salami@newtelegraphonline.com adekunles@yahoo.com

That Poland’s Ernst Wilimowski became the first player in World Cup history to score four goals in a single game against Brazil in a firstround match in 1938

TUESday, APRIL 15, 2014

NFF board under fire over feud with Keshi

Maigari

Keshi

Emmanuel Tobi

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atest reports emanating from the Presidency in Abuja reveal that the board of the Nigeria Football Federation might not return to office for a second term if the officials do not support Super Eagles Coach, Stephen Keshi and his team to achieve success at the World Cup in Brazil. New Telegraph authoritatively learnt that the Federal Government is not leaving any stone unturned in ensuring that the Super Eagles do well at the Mundial and anybody or group of persons standing as a cog in the wheel would face the wrath of the Presidency.

Nigeria’s John Obi Mikel battling for the ball with Ivory Coast’s Cheick Tiote during the Orange Africa Cup of Nations, South Africa 2013

‘’The Super Eagles are the property of the Federal Government managed by the NFF and the way the current board is handling the crisis with Keshi might affect our chances at the World Cup and this will be bad for the country,’’ said our source who pleaded anonymity. ‘’The NFF must know that President Jonathan holds the Super Eagles in high esteem and the team is a very good instrument of international relations and will not hesitate to sanction anybody who tends to portray the country in a bad light especially considering the not too impressive outing of the team at the 2013 Confederations Cup in Brazil.

Onazi dedicates goal to Abuja blast victims

Argentina rely on Messi – Sabella

Wenger sure of FA Cup, fourth place

}p-52

}p-53

}p-54

CONTINUED ON PAGE 55


52

Sport

BUSINESS

FOCUS ON CORPORATE SPONSORSHIP

with Emmanuel Tobi emmanuel.tobi@newtelegraphonline.com

0805 400 5669

Mercy Jacob

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ith the FIFA World Cup around the corner, Adidas, the official 2014 FIFA World Cup partner, has teamed up with its retail strategic partner, Mopheth Sport Nigeria Ltd, to bring Nigerian soccer fans greater accessibility to the latest Adidas football products through its two new stores. Brazuca, the official 2014 FIFA World Cup ball and most tested ball in history will once again be the focus of attention at the World Cup. Many goalkeepers will feel the pressure from this new ball, and there are likely to be more goals this year than ever before. Adidas will be stocking the Brazuca, the new Super Eagles jerseys and extraordinary footwear from branded teams expected to play at the 2014 FIFA World Cup in Brazil, including the current world champions Spain, Argentina, Germany and Mexico. These kits will be available at the new Adidas stores in Kano and Lekki. Launched in partnership with Adi-

Sanctity of Truth

Tuesday, April 15, 2014

Brazil: Adidas partners Mophet Nigeria to thrill fans das’ strategic retail partner, Mopheth Sport Nigeria Ltd, the two additional stores form part of a total of four stores in Lagos, Abuja and Kano. According to senior business development manager, Adidas South Africa, Astrud Meintjes, In the first year of its Nigerian operation, the brand has been received with great excitement by the public as it not only offers the discerning Nigerian consumer authentic Adidas products, but also unique competitions and campaigns. “Our expansion plans in Nigeria are on track. We did promise the consumer that we would have an aggressive expansion plan to cope with the unprecedented response to our brand in Nigeria. We are therefore excited that particularly in this World Cup year, our vision is being realised.

Together with our partner, we are looking forward to further expansions which will include new stores in greater Lagos, as well as Abuja this year

ChimaobiUchendu

S

uper Eagles defender, Kenneth Omeruo, has tipped teammate and Fenerbahce of Turkey attacker, Emmanuel Emenike, as the talisman that would wreck Iran and Bosnia thereby inspiring the team beyond the group stage of the World Cup in Brazil. The Middleborough of England defender noted that the strong forward will help

Ifeanyi Ibeh

N

igeria and Lazio of Italy midfielder, OgenyiOnazi, has dedicated the goal he scored in his club’s 4-2 loss to Napoli on Sunday to the victims of Monday’s explosions in Abuja. The blasts occurred on Monday morning when a car bomb went off at a crowded bus station in Nigeria’s capital, Abuja, during the morning rush hour, reportedly killing dozens of people. About 124 people were injured in the attack, which destroyed 16 buses and damaged 24 other vehicles, with President Goodluck Jona-

Sports Ministry starving NBBF of funds -Umar

for the World Cup. Overall, Emenike has scored 14 goals in 29 appearances both for Spartak Moscow and Fenerbahce but Omeruo maintained that, “With his good goal ratio, the goals will not dry up in Brazil.” The Chelsea star who is on loan at 12th placed Middleborough, has made 12 appearances receiving two yellow cards and one red card in the process.

Onazi dedicates goal to Abuja blast victims

than blaming the Islamist militant group, Boko Haram, for the bombing during a visit to the scene. “I dedicate my goal to the victims of the explosion, that happened this morning,” Onazi wrote on his official Twitter account. “I hope by the grace of God the families have the strength needed to manage everything.” Onazi’s goal in Lazio’s loss to Napoli was his first of the season, and his first Serie A goal for the Romebased club in close to a year. Prior to Sunday’s goal against Napoli, Onazi’s last

be the homes of authentic World Cup merchandise,” said Mr Adekunle Oyegade, Adidas’ retail partner.

Group Chief Operating Officer, Globacom, Mr. Mohamed Jameel presenting souvenir to the Sports Minister, Dr. Tammy Danagogo when he led the Glo team on a visit to the Minister of Sports in his office in Abuja recently.

Omeruo tips Emenike to wreck Iran, Bosnia the country to do well in Brazil. “Emenike is really good; I just hope he doesn’t have any injury. He is definitely one of the promising strikers for the national team because he is really very strong and good, “he told Brila FM on Monday. Emenike has netted just paltry three goals for Super Eagles in 2014 but remains one of the strikers Coach Stephen Keshi will be banking on for success in his 23-man list

“For the duration of the World Cup, our four stores at Ikeja City Mall, Shoprite Mall in Abuja, Ado Bayero Mall in Kano and Lekki will

Onazi

Serie A goal arrived on May 8, 2013 in Lazio’s 3 - 1 win over Inter Milan at the San Siro.

Chimaobi Uchendu

P

resident of the Nigeria Basketball Federation, Tijani Umar has accused the National Sports Commission of starving his Federation of funds to work with. Umar described as retrogressive the continuous challenges which various sporting federations face their day to day activities due to lack of adequate manpower and non-availability of facilities as well as funds. Alhaji Umar who was visibly disturbed by the inability of the federa-

tion to access funds to execute its programmes and activities in line with its mandate stated that the current NBBF board has resorted to using personal funds to get things done. Aside the paucity of funds affecting the federation, he stated that they do not even have enough personnel needed to manage a modern day Basketball Federation. “We have three NSC officials in the basketball federation and three persons only cannot run a federation. We are under-staffed, under-equipped and under-funded,” he said.

Ugbade urges Flying Eagles to step up game Ifeanyi Ibeh

F

lying Eagles assistant coach, NdukaUgbade, has called on players of the Nigerian U-20 side to step up their game as there is a huge gulf between the level of football they played at the U-17 level and what is expected of them at the U-20 level. The Flying Eagles, consisting mostly of players from the Golden Eaglets team that won the 2013 FIFA U-17 World Cup in the United Arab Emirates, were last week in Morocco on a two-game playing tour against the North African nation’s U-20 side. Both games ended in draws, the first 2-2, and the second, a one-all draw, and with the qualifiers for the 2015 African Youth Championships less than a month away, Ugbade has called on the players currently in camp in Abuja to

improve on their performance level. “The matches (against Morocco) showed we have to step up our game because this is a much higher level than U-17,” said Ugbade, who captained Nigeria to victory at the inaugural edition of the cadets World Cup in 1985, and was Manu Garba’s assistant at last year’s U-17 World Cup in the UAE. “So, we have to work on the boys psychologically in this aspect as well as improve them on the pitch because of the demands of a high-performance level we have now found ourselves in,” he added. Meanwhile, the Flying Eagles resumed training in Abuja Monday morning with a full house that included five of the foreign-based call-ups – Musa Muhammed, Kelechi Iheanacho, Chidiebere Nwakali, Musa Yahaya and Chidera Eze.


INTERNATIONAL SPORT

Sanctity of Truth

Tuesday, April 15, 2014

Countdown to Fifa World Cup 57

Do you talk about the World Cup with your family and friends? Not that much. I try to stay off the subject at home and my family help me with that because they know the pressure I’m under. Though you work from home more than you do when you’re coaching a club, they leave you in peace. At weekends, for example, I’m in the living room watching one match after another. I’m really wearing the armchair out! (laughs). With my friends it’s more or less the same. They know that I like to relax when I’m at home. I’m going to quote to you a couple of things that people are saying a lot right now, just to gauge the mood in the camp: ‘Argentina have got an easy group’ and ‘there are no easy teams at the World Cup’. Which of the two best sums up that mood at the moment? (Pause) Well, I’m going to give you a third option, which is in between the two: we are our own biggest enemy. If we’re on top of our game, we can make the group easier than it is. If we’re not 100 percent and as focused as we should be, then every team will make life hard for us and it could become a really tough section.

Argentina rely on Messi – Sabella could play the same with or without Messi. We rely on him so much that when he’s not there, we notice it. If it did happen, we’d have to see how we’d handle it and look at the match in question. We do have an idea, though. In fact, he wasn’t there when we played Italy in Rome and neither was [Sergio] Aguero and yet we still managed to adapt to the situation. We’re never going to be the same, but we’d do it again if need be. What was it like for you when he was recovering from his last injury? Well, it wasn’t as bad as when he started playing again. He was here for a month and I was able to keep a close eye on him. It was when he was back in action that I got all jumpy again.

Is it hard to enjoy games with that kind of tension in the background? I only enjoy watching matches when none of our players are involved (smiles).

Have you got one lined up for Messi? We’ve played a few games without Leo, but the fact is that he’s irreplaceable. T here’s not a club or national team in the world that

Days To Go

With less than two months to the opening game against Bosnia -Herzegovina at the Maracana, Argentina coach Alejandro Sabella in this interview with FIFA.com shared his views on stresses of the job, contingency plans should Lionel Messi suffer an injury and the selection issues he has to face at the mundial.

How do you feel when you watch your players in action for their clubs? Nervous! Sometimes I have to share matches out with my team because a lot of games are played at the same time. We all think exactly the same thing when we watch them though: that none of them are going to get injured. It’s not as if I get a headache or anything, but I do get worried if I see one of the players go down. If they get up quickly, that’s great. And if they have to go off, we try to find out why as soon as we can. I do suffer a little bit with them. You’re looking for them to be playing well, but the most important thing is that nothing happens to them.

The risk of injury is always there and there’s a question that always gets asked: do Argentina have a Plan B for players like Lionel Messi? You always have to have a Plan B. The thing is that we’re talking about top players here. You have to have some kind of list in your head and have some possible replacements in mind. The thing is, there are times when Plan B is pretty similar to Plan A, and there are times when it isn’t. That’s when you have to adapt.

53

Messi

Two years ago you told FIFA. com that you didn’t have a problem with being criticised because it “opened your mind”. How do you feel, though, about the criticism that’s been levelled at the Argentina defence, which was the second best in the qualifying competition after all? It doesn’t upset me and it’s understandable me. When you compare the potential we have up front with that of the defence, then the defence is always going to come off worse. I have to analyse every piece of criticism and see which of it I can use to come up with a temporary solution. I can say: ‘That’s useful. That isn’t,” but I can’t read or listen to everything. I’m just like anyone else and I’ve learned to pay

more attention to some opinions and less to others. Don’t you think that some of things said about your team are a bit savage? That’s a very strong word. This is the Argentina team and the same thing happens here at club level. What happens at River or Boca tends to get reported on more than events at other clubs. There’s a whole country behind the national team and everyone’s got an opinion. Those are the rules of the game and I knew them before I came in. Some sections of the media have been campaigning for Carlos Tevez to return to the side. How do you assimilate that? In the same way: everyone’s entitled to their opinion. And like I said before, I read, listen and watch and then I draw my own conclusions. Is he not putting forward a good case with his form in Italy? I don’t like talking about the players who aren’t in the squad. I think it’s better for everyone that way. That goes for Tevez and for anyone else, though I understand why they’re talking about him more than others. What are the fans in the street asking from you? I don’t go out much and when I do I see the passion of the Argentinian people, who think we’ve got it won already. I grew up hearing how we were the best in the world, even when we hadn’t won anything. But that’s normal. it’s just the way we are. Sometimes we think we are better than we actually are and then reality brings us back down to Earth. It’s no good being over-confident. You have to work hard and keep your feet on the ground. What are you more scared of: people getting carried away or the team failing at the World Cup? The possibility of failure, obviously. That said, the danger with getting carried away is that you can lose sight of things, which can cause you to fail or to go only so far and to be seen by some as a failure and by others as a success. Are you scared of success? Success can be dangerous. You have to keep your feet on the ground. I’ve always tried to keep my cool in defeat and stay humble in victory. Obviously it’s better to be successful and learn how to handle it than to have to deal with failure. Have you stopped to think at all about the best possible scenario? I should do, but I don’t think I have. Maybe there’s been the odd time when I’ve thought about us being in the Final, but it’s only been for a few seconds. I’d say I’ve hardly thought about it at all. The fact of the matter is that my mind has to be on other things right now.


54

SPORT | EURO FOOTBALL

Sanctity of Truth

Monaco join chase for Drogba

Tuesday, April 15, 2014

Clasico key to rest of season – Ancelotti

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eal Madrid coach, Carlo Ancelotti, says that victory in Wednesday’s Copa del Rey final against Barcelona would give his side’s bid for La Liga and Champions League glory a mental boost. Ancelotti told Madrid’s official website that the psychological impact of winning or losing Wednesday’s clasico final at the Mestalla will be huge. “On a mental level, I think [the final] will be very important,” Ancelotti said. “I think after this game, the side that wins will have more motivation, and desire to play their best until the end of the season. I think from a mental point of view, it will be very important. “Firstly, it is the first title of the season that we can win. Secondly, because we will take on a great side like Barcelona. All of this gives the game a lot of importance.” he said.

M Drogba

United to offer cash plus Kagawa for Hamsik

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talian newspaper Il Mattino has reported that Manchester United are readying a €31m bid for Napoli midfielder, Marek Hamsik, or, if the Italian club prefers, €15m plus Shinji Kaga-

wa. United have been repeatedly linked with a move for Hamsik, who hasn’t been able to play his best football under Napoli’s latest manager, Rafa Benitez.

Wenger sure of FA Cup, fourth place

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rsene Wenger feels Arsenal can claim a top four spot ahead of Everton and win the FA Cup as he analysed the final fixtures of the 2013-14 season. Speaking to reporters in his pre-match press conference ahead of the Gunners’ Premier League clash with West Ham, Wenger hailed the club’s fans for their support at Wembley before targeting a strong end to the campaign. Wenger said: “Our fans were fantastic on Saturday even when it was bad. We want them to be behind the team... I’m sure they will. “We can finish well this season. We can finish in the top four, we can win the FA Cup so it’s down to how united we’ll be until the end of the season and focused together.”

Wenger

onaco could join Juventus in the chase for Galatasaray striker Didier Drogba. The 36-year-old is set to be a free agent this summer when his contract with the Turkish giants expires, and recent reports suggest he could still be in line for one more big move despite his advancing years. The Ivory Coast international has scored 14 goals this season and remains a handful for defend-

ers with his physical presence and technique, and Juventus will now be rivalled by Monaco for his signature this summer. The Ligue 1 giants are on the lookout for big-name signings upfront for next season, with some doubts over the future of star striker Radamel Falcao, and with loan signing Dimitar Berbatov unlikely to make his move to the club permanent.

Barca chase Dortmund coach

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arcelona, according to reports, are set to replace Gerardo Martino at the end of the season with Borussia Dortmund boss, Jurgen Klopp. Martino’s position has come under increasing scrutiny following his side’s indifferent season, and reports indicate Barcelona are already lining up his successor. Spanish paper, Sport, claims Martino originally signed a two-year contract but the board has apparently been clear he doesn’t match the long-term vision of the club. It is also thought the final decision will rest with the President, Josep Maria Bartomeu, although they are likely to make a decision at the end of the season. The news could come as a blow to Arsenal, with rumours swirling that they are after Klopp. Arsenal currently face a fierce battle for fourth, and though they have offered Wenger a new deal, he has yet to commit his future to the north London outfit.

Other sports Ibaka to donate $500 for every block

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klahomaCityThunder forward, Serge Ibaka, who is averaging 2.7 blocks per game this season, has pledged a donation of $500 for every block he records in the NBA Playoffs. AllofthemoneyraisedwillgototheU.S.Fund division of the UNICEF charity as part of the“Get BoysandGirlsintotheGame”project.Thecause is near to Ibaka’s heart because it strives to ensure that children living his native Congo “can look forward to a better future” through education about simple household practices.

Masterschamp,Watsonsoarsinrankings

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ubba Watson’s second Masters title in three years saw him climb eight places to fourth in the world ranking. The American lefthander carded a final round of 69 at Augusta National to beat compatriot Jordan Spieth and Sweden’s Jonas Blixt by three shots. Tiger Woods missed his first ever Masters after undergoing back surgery, but remains top of the rankings after Adam Scott, Henrik Stenson and Jason Day failed to achieved the high finishes needed to overtake the 14-time major winner.

Sierra Leonean runner disappears after marathon

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ami Kohnneh, Sierra Leone’s fastest-ever 5,000 metre and 10,000 metre runner, has disappeared after becoming the first woman to have represented that country in the London Marathon. The 24-year-old, who finished 20th in the 26.2 mile event, may have fled to avoid flying back to Sierra Leone, and it is understood she was only allowed into Britain to compete on a temporary visa. Police have put out an appeal after the runner failed to return to her temporary accommodation in Greenwich on Sunday.

Title race ’ll go to the wire –Dzeko

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din Dzeko expects the Premier League title race to run until the final day despite Manchester City’s defeat at Liverpool. Dzeko was part of the 2011/12 City side which made up an eight-point deficit in six games to win the title in the dying seconds of the season, and the striker is bracing himself for a similarly close finish come May 11. He said: “It’s too early to say if Sunday’s result will decide where the title ends up because we still have six games to play and Liverpool and Chelsea both have four left.”

‘Hull can down Gunners’

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ull City’s Curtis Davies is confident they can win the club’s first major trophy by beating Arsenal in next month’s FA Cup final. “The biggest thing for us with this game is we have got the occasion out of the way,” Davies told The Hull Daily Mail. “When we come back here on May 17 it will all be about winning a game of football and lifting a trophy. It won’t be about Wembley, getting your family there, sorting tickets for people, it will be about winning a game of football and then I will be in a position to lift a trophy for this club.”


SPORT 55

Sanctity of Truth

Tuesday, April 15, 2014

NFF board under fire over feud with Keshi C O N T I N U E D F R O M PA G E 5 1

‘’Maybe the NFF has forgotten that the team’s success in Brazil is a good platform for their campaign for second term in office despite the other achievements in the past.’’ Our source added that the Presidency is keeping tabs on the situation and will act when necessary, which includes channelling all machinery against those frustrating the good work of the President who has been a source of inspiration to

Nigerian athletes with his monetary rewards. It was also learnt that plans are underway by the National Sports Commission to show keen interest in the forthcoming NFF elections to ensure that peace reigns in the football scene. Nigeria is drawn to play in Group F along with Iran, Bosnia-Herzegovina and Argentina. Eagles will file out for their first match against Iran on June 12.

Ngerem slams AFN over Greene’s appointment

C O N T I N U E D F R O M PA G E 5 1

he described ex-international Seun Ogunkoya as a better athlete than Maurice Greene. “If not for the way Nigeria does things, Seun Ogunkoya was better than Maurice Greene, Ato Boldon, etc. and Ogunkoya was brought up in Ekiti by Coach Akinyemi of blessed memory and coached by Nigerian coaches to become a world-class athlete,” he said. Maintaining his stance that Nigeria in the past has produced great athletes, he pointed to a meeting he had with Greene’s manager during World Athletics Championship in Edmonton, Canada 2002, where he asked what made Greene and Ato Bolton performed better than Nigeria athletes. “He told me in clear terms that Nigeria was not serious and professional enough in relation to their planning, strategy, organisation, management,

FC Ural Sverdlovsk Oblaston’s Chisamba Lungu challenging PFC CSKA Moscow’s Ahmed Musa (L) during the Russian Premier League match at the Arena Khimki Stadium on April 12, 2014 in Khimki, Russia.

well-being and welfare of their athletes. “He went on to tell me that Maurice Greene was an ‘industry’ and had so many families dependent on him; so they managed him as such. He said they were afraid of Seun Ogunkoya at the time and would have done anything and everything to make sure he did not disrupt their ‘industry’. “He told me that their worries subsided because not quite long after Seun beat Maurice Greene, Seun went down due to lack of professionalism in the way he was managed,” he explained. “I was to visit the small Caribbean Island of Bahamas (population less than 180,000) to find out why they were doing better than the ‘giant’ of Africa, I was sad with what they said about Nigeria. While they respected and feared Nigerian athletes they calculated that we would always mismanage our God given talents,” he said.

Copa del Rey finale live on DStv’s SuperSport

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he toast of world football for the past seven years, Barcelona now appear to be in terminal decline. Defeats to Atletico Madrid in Champions League and Granada in the league in the past five days saw their treble dreams go up in smoke and their season could come crashing down should they fail to overcome bitter rivals Real Madrid in the Copa del Rey final to be broadcast live on SuperSport on Wednesday. The World of Champions will cross over to Valencia from 9pm for a 30-minute Sky Sports build-up with kick off set for 9.30pm (CAT) on SS3HD and SS3. Rumblings of the decline of arguably the greatest team of the 21st century and the end of an era have constantly been met with responses of “gravely exaggerated talk” from players and staff. But the last five days have proved that the club is no longer the powerhouse it once was and the world could be moving on

from tiki-taka football. Having already beaten Real Madrid twice this season, the cup final is their last chance of salvaging what has been a disastrous season on and off the field.

Nigeria’ll do well in Glasgow –Ogba Charles Ogundiya

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resident of Athletic Federation of Nigeria, Chief Solomon Ogba, has declared that the country’s team to the Commonwealth Games in Glasgow, Scotland, later in the year will surpass the achievement of Delhi 2010. In Delhi, Ajoke Odumosu and Tosin Oke won gold medals in Women’s 400m Hurdles and Men’s triple jump. Speaking in Abuja over the weekend at the end of the 1st Golden League of the year, Ogba said with the federation’s programmes for the season, track and field would make podium appearances in Glasgow. “Whatever you achieve in sports, if you don’t appear on the podium, it makes no meaning to Nigerians. At the London 2012 Olympics, we were in 11 semifinals and six finals, but Nigerians believed we didn’t do well at all, but I can tell you that it is no small feat to be in 11 semifinals and six finals; some sports did not even qualify to be in London,’’ he said. Ogba added; “We opened our season for home based athletes with the over distance event in Ijebu-Ode. To keep them in shape for the National Trials in Calabar in June, they will compete in the five legs of the

Sport Trending

TWITTER |@NTelegraphSport

Onazi Ogenyi Eddy I dedicate my goal to the victims of the blast in Abuja this morning. May God grant their families the grace to handle it all. @OnaziOgenyi Muhammad Ali I wish people would love everybody else the way they love me. It would be a better world. @MuhammadAli Kanu Nwankwo Congrat Arsène wenger. Congrat Arsenal. Well done boys see you in the final and make sure you win it. @papilokanu Manny Pacquiao Thank you to all my fans who have been praying for me. My victory is for you and for the glory of the Philipinnes and Filipinos everywhere. I am looking forward to going home to be with Jinkee and my children as we await the arrival of our baby, Israel. Happy Easter and Passover. @MannyPacquiao Amir Khan Well done to my friend @MannyPacquiao in a great performance beating Timothy Bradley. @AmirKingKhan Nnemkadi Ogwumike It’s a gorgeous morning for the Draftees! So excited for this talented group of young ladies. #WNBADraft2014. @Nnemkadi30

Perez Chukwumerije garners points at German Open Sesan Ajibade

bubba watson I want to thank everyone for the support, encouraging words & congrats that have poured in this week! I feel incredibly blessed. @bubbawatson

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aptain of Nigeria taekwondo team to the 2011 All Africa Games, Uche Perez Chukwumerije made it to the last eight of the German Open at the weekend in Hamburg barely a week after clinching gold medal at the 35th Belgian Open. Chukwumerije, who had to fight through injury, which he copped on his way to victory at the Belgian Open last week, was impressive in his first round fight against Serikzhan Abdrassilove of Kazakhstan, emerging victorious with a 2-1 win. His second fight - the last eight (quarterfinal), the 2011 All Africa Games gold medallist again lost to the current Military

Golden League meets. The final is slated for Benin. Apart from the prize money the athletes will win at each leg of the league, there is also a jackpot of two million naira. Then, there is the Warri Relay and Grand Prix before the All Nigeria Championships.”

Uche Perez Chukwumerije (left) with his younger brother, Chika Chukwumerije, at the 2013 Austrian Open.

World Champion, Sajjad Mardani of Iran. The Iranian, who was one of the top rated athletes in the men’s +87kg of the competition had earlier this year claimed gold medal at the 2014 Dutch Open when he defeated Olympics champion, Gabon’s Anthony Obame, and knew that he had to be at his best to overcome Chukwumerije.

Rory Mcilroy Not the week I wanted but know what I need to do next year. Even par for the par 5’s wasn’t good enough! Can’t wait for 2015! @McIlroyRory Caroline Wozniacki Had an amazing time in Augusta! Time to go home, see you next year! Won’t forget that 30 foot putt any time soon. @CaroWozniacki Lewis Hamilton Had a great Sunday with family and my dogs! @LewisHamilton Toni Kroos Playoffs! What a Game!!! Congratulations Dallas Maverick. @ToniKroos


On Marble

World Record

In three words I can sum up everything I’ve learned about life: it goes on.

Sanctity of Truth

– Robert Frost

w w w. new tel eg rap ho nl i ne. co m

Three things cannot be long hidden: the sun, the moon and the truth – Buddha TUESday, APRIL 15, 2014

American sprinter, Kevin Young, set a world record of 46.78 secs in the 400m hurdles on August 6, 1992 at the Barcelona ‘92 Olympics.

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Mugabe’s moment in Nigeria’s sunlight

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ews of the rebasing of Nigeria’s GDP, truly a geopolitical milestone enabling the nation to formally become the foremost African economic power (a near over night-ascent ahead of South Africa), sent shockwaves around the world and across the continent. Inter nationally-accredited ratings agency Moody’s Senior Analyst Aurelien Mali, remarked that from a credit standpoint, the revised GDP estimates will allow for a “…better understanding of the Nigerian economy and its underlying resilience.” Indeed, the continued exploration of Nigeria’s multifaceted potential through the procurement of such important, contemporary information has drawn the praise of citizens, think-tank senior fellows, inter national media correspondents, commercial stakeholders and policy-makers alike. One notable exception however, a dignitary seemingly not overwhelmed with enthusiasm on such news, is the Republic of Zimbabwe’s controversially highhanded President, Robert Mugabe. Zimbabwe, long the ‘breadbasket of Africa’, has undergone a seismic shift of its own intercontinental positioning over the course of the last few decades and one not for the better. Underlining the actions that caused this decline (the sharp pivot away from western markets and the hosting of a consistently-utter disregard for the international norms of democracy), Mr. Mugabe allegedly believes that such behavior furthers a break from ‘colonialties’. He had spent most of the 2000’s and indeed the 2010’s pushing for retribution over reparation and enforcing greater means of indigenization. The latter would be a notable, economically empowering idea, were it not implemented with such disastrously blunt force. Nevertheless, Mr. Mugabe understands the detriment of exploitation to a nation’s potential, and, using his usual tact, quipped at close of March that Zimbabwe must not let itself become “…like Nigeria” when it came to corruption. “Are we now like Nigeria, where you have to reach into your pocket to get anything done?” the Presi-

World View SAM AMSTERDAM

Mugabe

dent remarked verbatim. Likely not unbeknownst to the President of Zimbabwe, it is important to point out that Amnesty International, a Berlin-based organization, placed Nigeria as 144th out of 175 countries on its Corruption Perceptions Index of 2013, while Zimbabwe was ranked 157th. Now obviously, there are still clear and present challenges to the advances Nigeria can and should make within the global economic marketplace, given such tremendous intelligence on it’s newfound positioning. However, I would suggest we see today a greater commitment to the democratic process from our political thought leaders in Nigeria than ever before. For example, freedom of expression is a valued human right in the jewel of the ECOWAS and one that, if besmirched as it is in Zimbabwe, would allow for an incessant assault on the former’s potential ‘brand’ to be warranted. Further, Zimbabwe opposition

Jonathan

leader and Movement for Democratic Change (MDC-T) figurehead, Morgan Tsvangirai, has long been persecuted by Mr. Mugabe’s political cabal, the ZANU-PF, including suffering an unwarranted arrest and violent thrashing for calling out the bureaucratic corruption prevalent in Zimbabwe today. In contrast and in Nigeria, we see a collective commitment to root out such criminality by all parties, understanding that fragmentation has allowed for venality to fester. The mantra that only by looking beyond the so-called ties that continue to divide the country, can Nigeria move forward, is a view being enacted by all political sides in country on a near-daily basis. In response to the Zimbabwean President’s remarks, Nigeria’s foreign ministry recently summoned Zimbabwean envoy Stanley Kunjeku, then filing “the strongest protest”. “…[For a statement] to come from a sitting president of a broth-

Likely not unbeknownst to the President of Zimbabwe, it is important to point out that Amnesty International, a Berlinbased organization, placed Nigeria as 144th out of 175 countries on its Corruption Perceptions Index of 2013, while Zimbabwe was ranked 157th. erly country is most unkind and very dishonorable,’’ the ministry added. The undiplomatic remarks from Mr. Mugabe in their very nature, timed as if prognosticating that such positive geopolitical news was to be brought to the ECOWAS, showcases a type of ingenuousness that would be surprising to see from a 90-year old Head of State, one who has controversially retained his position for the last three decades. No, Mr. Mugabe, Nigeria is not like Zimbabwe. And today, more than ever before and despite my fondness for the for mer breadbasket, one might argue that it shouldn’t hope to be.

OmoBaba

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Terror: Hell in Abuja. Confab: Committee list splits delegates. FG, investors’ N8.1tr refineries deal collapses.

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