Sunday 19th February 2017

Arumemi-Ikhide: Acquisition of Arik in 'Commando Style', Bad Signal to Investors Says AMCON cooking up debt figures to justify Arik take-over Chinedu Eze Founder of Nigeria’s biggest carrier, Arik Air, Joseph Arumemi-Ikhide, has said the take over of the airline by the Asset Management

Corporation of Nigeria (AMCON) in a “commando style” was a bad signal to investors.

Arumemi-Ikhide also accused AMCON of cooking up debt figures to justify Arik take over.

Speaking exclusively to THISDAY, He said it was wrong for an entrepreneur to labour and build a business and government would come and take it in “a commando style”.

AMCON on February 9

Blames weakened naira for debt profile

took over the management of Arik Air over mounting debts that it (AMCON) claimed would have grounded the operations of the airline without the corporation’s intervention.

AMCON had put Arik’s

total debt profile at more than N300 billion and accused the airline of lacking corporate governance.

But Arumemi-Ikhide said the debts owed by Arik were far less than the N300 billion AMCON alleged.

He argued that contrary to the N146 billion AMCON said Arik owed the corporation, the actual debt was N90 billion.

According to him, AMContinued on page 9

Nigeria Drops to 4th Position as China's Trade Partner ...Page 12 Sunday 19 February, 2017 Vol 22. No 7976

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Osinbajo Signs Seven Bills into Law

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CBN Releases Additional Forex to Banks for School Fees, PTA Says with economy picking up, naira will strengthen

Kasim Sumaina in Abuja The Central Bank of Nigeria has said, as part of its efforts to alleviate the sufferings experienced by Nigerians, who source forex for school fees, medicals and personal traveling allowance (PTA), it has decided to fund banks directly with additional forex to satisfy their obligations .

Acting Director, Corporate Communications, CBN, Isaac Okoroafor, who dropped this hint when he was featured as a guest on Arise News Network, a sister company of THISDAY, also gave the assurance that with the gradual improvement in local production and the economy in general, the value of the naira measured against the

United States dollar would strengthen.

Preparatory to providing the additional forex, the CBN had, last Thursday, pegged the exchange rate for

payment of the school fees, and personal travel allowance (PTA) and medicals at N375 to the dollar. This new rate as quoted by a source will take effect from Monday.

According to Okoroafor, “The Central Bank of Nigeria has taken a decision to directly fund banks with additional foreign exchange to be able to take care of some

personal travel allowance, school fees and medical payments. With that, we have tried to set an exchange rate Continued on page 9

Sherrif: I’m Ready to Sacrifice My Position for Peace in PDP Makarfi convenes stakeholders meeting tomorrow Onyebuchi Ezigbo in Abuja and Benjamin Nworie in Abakaliki Reinstated national chairman of Peoples Democratic Party, Senator Ali Modu Sheriff, says, if need be, he is ready to relinquish his office for peace to reign in the party.

See THISDAY Style Inside…

Sheriff was restored to the chairmanship post on Friday by the Court of Appeal, amid controversy. At a news conference yesterday in Abuja, he dismissed the rejection of his courtordered reinstatement by some key stakeholders of the party, stressing that he has commenced broad consultations aimed at Continued on page 9

CELEBRATING PA OGBUE L-R: Chairman of UBA Plc and son-in-law to the celebrant, Mr. Tony Elumelu, his wife, Dr Awele, celebrant, Chief Israel Ogbue; his wife, Josephine; and GMD/CEO, UBA Plc, Mr. Kennedy Uzoka; at the 90th birthday celebration of Chief Ogbue, held in Lagos ...yesterday

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T H I S DAY, T H E S U N DAY N E W S PA P E R ˾ FEBRUARY 19, 2017

PAGE NINE

Osinbajo Signs Seven Bills into Law ÙÌÓ ÙØÓãÓ and ×ÙÖÙÖß ÑßØ×ËÎÏ in Abuja The Acting President, Prof.

Yemi Osinbajo, yesterday assented to seven bills earlier passed and transmitted to the Presidency by the National Assembly.

According to a statement last night by Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang, the bills

are: Oaths (Amendment) Act, Defence Administration Act Surgeons (Amendment) Act, National Film and Video Censors Board (Amendment) Act, Pension Judges (Amendment) Act, Nigeria Institute of Soil Science (Establishment, etc.) Act, Institutions (Amendment) Act. According to Enang, the Acts, except Defence Administration Act and the Institute of Soil Science Act

are mainly amendments to the principal Acts intended to bring them in conformity with realities.

He explained: “The Oaths Amendment Act establshes courts which were not in existence at the time the Oaths Act was made and which came upon Constitution amendment.

The administration establishes the Space Administration to develop technology and of the security

cyber activities.

“Surgeons (Amendment) Act reduces the membership of the Veterinary Council.

National Film and Video Censors Board (Amendment) Act reduces the membership of the Governing Board and empowers the board to regulate the export and import of movies.

“Pension Judges (Amendment) expands the meaning of a judicial officer to

cover the offices of the Chief Judge or the President, Appeal Court, Chief Judges of Industrial Court and Chief Judge or Judges of High Court of the Federal Capital Territory. “Nigeria Institute of Soil Science(Establishment, etc.) Act establishes Nigeria Institute Science which is charged with the responsibility of regulating the profession of Soil Science. “Institutions (Amendment) Act reviews

the penalties.”

Osinbajo has been acting for President Muhammadu Buhari since January 19, almost a month today. Buhari, who is in London, United Kingdom partially on medical vacation, was initially intended to resume on February 6, but he asked for an indefinite extension, to enable him get the results of some medical tests from his doctors, a NAN report also noted.

making the allegations, the public could decipher the truth.

He said, “I don't believe all those insinuations that were being peddled around.

All those that are saying that the APC are responsible for the PDP crisis may have something to hide.”

Sheriff denied reports that he had made disparaging comments about Governor Nyesom Wike of Rivers State and Fayose, saying, "This is the first I am making any statement ever since the Port Harcourt court pronouncement, but I have seen many things on the Internet purported to have been said by me against some leaders of the party “I think people should respect themselves, they should not compound the problems for the party.”

As a mark of his commitment to peace, Sheriff said he would hold a meeting with members of the reconciliation committee headed by Governor Sirieka Dickson of Bayelsa State.

According to him, "The judgement of the Port Harcourt Court of Appeal on Friday does not call for

merriment or mourning. In my candid view, there was no victor and no vanquished.

"I see the judgement as a golden opportunity for a sincere renewal of our sense of unity and fraternity. No doubt, we have come a long and tortuous road wherein some of us have been bruised or outrightly wounded and are hurting. I understand also that for some of us, our ego has been agitated.

"Yet, I dare say that we can put all of that behind us and come together with one accord and move our great party, the PDP, forward.

“All of us are winners, Sheriff is not the winner and Makarfi is not the loser. I have received calls from our party leaders, the governors and members of the National Assembly.

"It is not about me or any ambition; it is about the survival of our great party.

On this score. I can assure you that I shall be willing to make any sacrifice that can guarantee peace in our party.”

He continued, “This morning I have spoken to Governor Dickson, who is the chairman of the peace committee, and former Deputy Senate President Ibrahim Mantu on the development and how to

get back the peace process on track. Court has made its pronouncement, right, but what is important is how we proceed to organise our successful convention. First of all I must make consultations with all the leaders of the party.”

Sheriff stated that his leadership will move to reopen the party's national secretariat, which has been locked by the police following clashes by the two factions of the party. He said he would pursue the matter in court this week.

In a related development, the youth wing of PDP in the South-east has rejected the judgement of the Court of Appeal that reinstated Sheriff as national chairman of the party. The South-east zonal youth leader of the party, Comrade Chidiebere Goodluck Egwu, said the youth of the zone would not recognise Sheriff as national chairman of PDP. Egwu said they still recognised the Makarfi leadership, stressing that they are optimistic that the Supreme Court would set aside the judgement of the appeal court.

“We, the South-east PDP youth, stand with Alhaji Ahmed Markafi, PDP caretaker national chairman,” the youth leader said.

SHERRIF: I’M READY TO SACRIFICE MY POSITION FOR PEACE IN PDP restoring peace and unity in the PDP. Meanwhile, a stakeholders’ meeting has been called for tomorrow by chairman of the PDP national caretaker committee, Senator Ahmed Makarfi. The committee was appointed during the contentious national convention of May 21 last year in Port Harcourt to oversee the affairs of the party after Sheriff’s ouster.

The notice of the meeting circulated yesterday, signed by the national publicity secretary of the committee, Prince Dayo Adeyeye, said it would discuss “crucial party matters.”

It is widely believed that the decision of the appeal court, which went against the Makarfi leadership, would be a key subject at the meeting scheduled for 2pm at the International Conference Centre, Abuja.

Those invited include members of the National Executive Committee, members of the Board of Trustees, National Assembly members, former governors of PDP, former ministers under the platform of the PDP, former National Assembly members, and

party elders.

Sheriff won a major victory on Friday in the protracted leadership tussle in the PDP, which broke out after his removal at the Port Harcourt convention. Despite the victory, he said he would pursue peaceful measures aimed at reunifying the party.

“I have been consulting with leaders of the party,” Sheriff told the press conference. “From Monday, I will consult our members in the National Assembly; I will consult the BoT and everybody so that we can work together. I can assure you that within the shortest time possible, we will organise a successful national convention so that people can aspire for whatever positions they want to.”

He said, “I am determined to make my honest contributions to the success of this party. I am ready to make any sacrifice for the success of this party. We don't want PDP to lose elections again.

We need people to patronise our party. Democracy is about people, you either give them their right or they leave. What we are trying to do is to give the party back to the people.”

Sheriff dismissed the statement by the chairman of PDP Governors Forum, Ekiti State Governor Ayodele Fayose, which condemned the appeal court verdict, saying it is a personal opinion that does not represent the position of the governors.

The former governor of Borno State said, though, he had confidence in the country’s judiciary, litigation was not the best way to settle the disputes in the party.

He urged those making "misguided statements on the integrity of our judges to desist from doing so."

Regarding the appeal court ruling in his favour, he said, “I want to assure that nobody is victor and no one is a loser. In fact, I have spoken to almost all the people that are affected by the court decision and assured them of my readiness to work with them to ensure that the party returns as one family.”

Sheriff dismissed the insinuations in some quarter that he was working for the APC and President Muhammadu Buhari. The former governor said from the antecedents of those

ARUMEMI-IKHIDE: ACQUISITION OF ARIK IN 'COMMANDO STYLE', BAD SIGNAL TO INVESTORS CON management had acknowledged that N90 billion was the debt the airline owed the government agency and wondered where it got the extra N56 billion it added to the earlier debt, which both parties agreed on and endorsed.

He argued that AMCON’s claim that the additional figure was the interest on the original debt did not hold water because AMCON “is not a bank or any kind of financial institution.”

The Arik Air founder said that in addition to AMCON’s debt, the airline owed Zenith Bank N35 billion, Access Bank N7 billion and Ecobank N12 billion, bringing the debts to N140 billion.

Other debts he mentioned include debt owed Lufthansa Technic, a maintenance company that provides technical support to the airline, which is about $9.8 million, and the one owed Eurocontrol, which the he said was less than one million Euros.

He noted that catering services, debts from aeronautical charges, including the debts owed aviation agencies like parking and landing charges, terminal charges, en route charges and extension of time at the airports that are not manned for 24 hours, were about N10 billion.

Noting that although

Arik had been paying its debts to the Federal Airports Authority of Nigeria (FAAN), he said the bone of contention was that the agency presented conflicting debt figures which led to a disagreement that ended in court. He however said it was FAAN that took Arik to court.

Speaking further on the debt profile of the airline, he said the huge debts to Arik’s international creditors were as a result of the depreciating value of naira. Buttressing his point, he said last June when the naira plunged in value, the amount of naira required by the airline to service its debts in dollars almost doubled.

Arumemi-Ikhide said this prompted Arik to instruct Zenith Bank to set aside some of the revenue it earned to service the debts but when the value of naira nosedived further, the money set aside could not offset the required payments to US Exim Bank, lessors and others.

He said the projections and funding were calculated on N165 per dollar but from the middle of last year naira went down to N305 per dollar at official rate. This, he said, made it extremely difficult to keep pace with the payment, especially with increase in the price of avia-

tion fuel, which stretched the finances of airlines “AMCON does not know what it is talking about. They are there cooking up figures to justify their impunity of using commando style to take over the company. If they meant well they would have approached us and state their intention and we reach agreement without these crisis and fanfare. If you want to take over, first you do inventory to know what is in the company,” he said.

Arumemi-Ikhide said the day AMCON took over the management of the airline, Arik operated 65 flights with 15 aircraft but since the take over, the airline has been operating maximum of 15 flights.

He said the airline was operating about 110 flights daily before the scarcity of aviation fuel and now it operates less than 16 flights daily.

Noting that the lessor, Penbrook, which owns the leased planes, had contacted their lawyers to go to court, he said he would also go to court.

Commenting on the airline’s fleet, he said the 28 aircraft in the fleet of the airline include two executive jets and 26 schedule services aircraft. Out of that 26 two

are classics, while two are Airbus 340-500, making the total number of aircraft in schedule operation 22.

“One of the Airbus 340-500 was leased to a company in Spain; one has been parked at the international terminal of the Lagos for over two years now. Out of the Airbus 330 we leased, one has gone for C-check, while the other one has engine problem,” he explained He noted that it was a good decision AMCON made to stop international operations because if any aircraft belonging to any airline that government has interest in is taken abroad, creditors owed by the defunct Nigeria Airways Limited (NAN) might seize the aircraft.

“They may seize the aircraft in London because NAL owed a lot of money to many organisations. When we started flights to London the first challenge that we faced was to explain to them that Arik is a privately owned airline,” ArumemiIkhide said.

He said the plan by government to invite Ethiopian Airlines to manage Arik had failed. He warned that if Ethiopian Airlines dares to take over the management of Arik , he would sue the company.

CBN RELEASES ADDITIONAL FOREX TO BANKS FOR SCHOOL FEES, PTA for those transactions at 20 per cent above the interbank rate - that is, 20 per cent above the interbank rate that ranges between N305 and N315.”

The CBN spokesman advised Nigerians, who have legitimate reasons to procure forex to approach their banks, where their needs would be cater for rather than go to the parallel market. “The banks have been directed to sell to all the people that will come up for it and they actually have been directed to open up avenues at the airport so that they can deal with these demands,” he explained.

Okoroafor admitted that, there was a shortage of the dollar, which rates at the interbank market range from N305 to N315, and N520 at the parallel market. But, he was quick to add that, “the cause is obvious: we can’t earn enough again and we’re trying to rationalise and prioritise what we have at the moment so that it can meet the most basic needs of the country.”

Driving home his position on the imminent gain in the value of the naira, Okoroafor enthused that, the economy was already witnessing re-

duced rate of importation of goods and items that could be produced locally, which has resulted to reduced pressure on forex. With this happening, he believed the value of the naira would witness a thrust within the shortest possible time.

Further allaying the fears on the state of the naira, which has been pummelled at the foreign exchange market, Okoroafor gave the assurance that the national currency would not plunge further.

In fact, the spokesman, who was optimistic that the naira would reverse the falling streak, contended that there was no amount of ‘machinations’ and ‘tricks’ that would make the value of the naira against the dollar to depreciate further to N1000.

“Although people are trying to use all kinds of machinations and tricks to bring us to that (N1000/$1), it won't happen because the economy itself, local production is picking up and the rate at which people import useless things is coming down.

"I am very certain the naira is going to come back, gradually," he said.

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FEBRUARY 19, 2017 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

SUNDAY COMMENT

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

TIME AND THE JUDICIAL PROCESS An overhaul of the country’s judicial process is long overdue

M

r. Donald Trump has yet to spend one month in office as President of the United States of America. But within this period, concerned citizens and state attorney generals have taken him to court and won; the presidency has filed appeals and lost serially and, in a matter of days, these appeals have been determined and the outcomes implemented sometimes on the same day. It is indeed noteworthy that the Nineth Circuit Court of Appeals of three judges exchanged their arguments by phone and email and ended up with a unanimous well argued verdict. All of these processes took less than two weeks.

What the contest between President Trump and the judiciary over his chain of autocratic executive orders, especially the immigration ban, has revealed is the strength of American democracy. Underneath it all is the use of the judiciary to tame the dictatorial temptations of an elected president.

Unfortunately, the opposite is the situation in Nigeria where individuals have overpowered the system such that justice is no longer for the weak.

Against the background that it also took the British Supreme Court a matter of days to rule on the power of parliament in the Brexit matter, the pertinent questions are: why is it that in Nigeria the judicial processes take ages and most often end up with some shameful array of commercial judgments, sometimes delivered long after the public has forgotten what the matter was about? Why can’t our system serve court notices by email instead of relying on colonial bailiffs to physically chase people around after the same bailiffs have informed the defendants to disap-

Why is it that in Nigeria the judicial processes take ages and most often end up with some shameful array of commercial judgments, sometimes delivered long after the public has forgotten what the matter was about?

Why can’t our system serve court notices by email instead of relying on colonial bailiffs to physically chase people around?

Letters to the Editor

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pear? Why are lawyers allowed to file frivolous injunctions that are meant to upend justice?

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S U N DAY N E W S PA P E R EDITOR TOKUNBO ADEDOJA DEPUTY EDITOR VINCENT OBIA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OLUFEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBU, FIDELIS ELEMA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD FEMI TOLUFASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

elay in the hearing of cases in Nigeria is largely caused by lawyers, judges and judicial staff. Our judges are ever ready to indulge and encourage lawyers to waste the precious time of the courts.

This is despite the fact that the 2009 fundamental enforcement procedure rules have the most efficacious provisions for enforcing human rights in the world.

The anachronistic doctrine of locus standi and statutes of limitations has been abolished while preliminary objections shall be argued together with the substantive matters. An application for the enforcement of fundamental rights shall be fixed for hearing within seven days (or less in case of extreme urgency) but our courts allow delay by bailiffs who may not serve the processes and lawyers who may ask for adjournments on frivolous grounds.

Under the Administration of Criminal Justice Act, 2015 the practice of staying proceedings in criminal trials has been abolished. Trials are to be conducted day by day and if adjournment has to be granted it shall not be more than 14 days. But senior lawyers have now developed the illegal practice of subjecting witnesses to unending cross-examinations lasting several days. Clearly, the trouble with our judiciary does not end with ‘Ghana must go’ judges. It entails a total systemic overhaul which is a political action. But who will carry this out except the same politicians who are often the initiators and beneficiaries of judicial delays?

Interestingly, the rules of procedure of our courts prescribe a more speedy process than what obtains in most jurisdictions including the United States. That is why the Supreme Court recently ensured that all pre-election disputes were determined before the Ondo State governorship election.

However, the same court is yet to conclude similar cases in Abia and a few other states. Yet in time bound cases the apex court is empowered to announce a judgment and give reasons at a later date. Since election petition tribunals sit on Saturdays, there is nothing precluding regular courts from also hearing and determining urgent cases on Saturdays.

The delays in our judicial system are deliberate acts of individual lawyers and judges which of course is an extension of a national culture of tardiness and corruption in most spheres. For it to stop, there is need to restore integrity to the bar and the bench in Nigeria.

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (950- 1000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

SECURING WOMEN FROM SEXUAL VIOLENCE

exual violence is any attempt or act to obtain a sexual act by violence or without the consent of the second party. It comes in different contexts and forms, which include: child marriage, sexual abuse of children, forced abortion, denial of the right to use contraception or to protect against sexually transmitted diseases, systematic rape during armed conflict, rape within marriage, rape by strangers, sexual harassment, forced prostitution and trafficking amongst others.

Women in developing countries experience sexual violence at a disturbing rate and are less likely to report or seek help - the narrative is not different for Nigeria. Despite the high prevalence of the act in the country in comparison to major crimes, it is underreported.

A contributing factor to this silence on sexual violence on women in the country is culture. Violence against women is often embedded

in social customs that allows it to be perpetrated with impunity. Such violence arises from intricate array of closely knitted factors, which include traditions, gender norms and social acceptance of violence as a means of conflict resolution. The Nigerian culture makes it difficult for a woman to say no, especially married women. Men learn to be aggressive and dominant through socialisation. Culture deprives women equal power to negotiate safe sex in intimate union, but upholds and entrenches a man’s authority in the home. The custom of paying ‘bride price’ whereby the men essentially ‘purchase’ their wives underscore men’s entitlement to dictate the terms of sex. Thus, the prevalence of rape and other sexual violence has often been associated with social norms around the use of violence as a means to achieve objectives. Rape and sexual violence is common in societies where the ideology of male superiority is

strong emphasising dominance, physical strength and male honour.

The fear of being stigmatised is also part of what cripples justice and security against sexual violence. The fear isolation by the society imposes a culture of silence thereby preventing the victims from reporting. There is an assumed dishonour associated with rape or sexual violence which encourages such silence because no one wants to be seen as a victim of sexual assault. For example, Aborisade (2014) in an empirical research he carried out across tertiary institutions in Nigeria found that 60.9% of the respondents were advised by their friends and family not to report to hide their ‘shame’.

Educational factors have additionally slowed down the eradication of the male superiority syndrome, which as said initially is deeply entrenched in most cultures across the country. Parents elect to educate male children while ignoring the

female, especially in the northern part of Nigeria. The high rate of female illiteracy impedes the elimination of gender based violence, as uneducated women especially in the rural areas are not conscious of their rights, much less understand ways to demand them. Research has shown that they have conceded that acts of violence perpetrated by their partners are customary and accepted by their culture. Women in Nigeria, in consequence of the patriarchal nature of the country’s sociological background, are confronted with many institutionalised barriers, which have seriously impeded the full realisation and protection of their rights.

As a nation, Nigeria still relies on outdated laws enacted decades ago, in spite of the global shift towards eradicating violence against women which ended up in many states establishing gender based violence defined laws. Remarkably, victims

of sexual violence are made to turn to the provisions on assault and battery, which is not only discriminatory but also grossly inadequate.

Although Nigerian government is signatory to most international instrument on women’s right, most of these laws directed at ensuring gender equality are not adopted by the government.

Finally, unsatisfactory synergy between the police and prosecutors, weakness of testimony, lack of efficient interrelationship between medical care providers and the legal system, careless trial procedures all exacerbate a victim’s ordeal. Structural and resource constraint in law enforcement, forensic analysis and the court are some of the obstacles that impede women from getting access to justice.

––Abdullahi Mubarak, Stand to End Rape (STER) Initiative (See concluding part on www. thisdaylive.com)

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SUNDAYNEWS

News Editor Abimbola Akosile E-mail: abimbola.akosile@thisdaylive.com, 08023117639 (sms only)

Army Refutes Alleged Disparity in Payment of Troops Paul Obi in Abuja

SHARING COMMON INTEREST L-R: Former South African President Thabo Mbeki with Nigeria’s Minister of Mines and Steel Development, Dr. Kayode Fayemi, at ‘Investing in African Mining Indaba 2017’, held in Cape Town, South Africa...recently

Nigeria Drops to Fourth Position as China’s Trade Partner Alex Enumah in Abuja

Trade relations between Nigeria and China dropped last year with Nigeria losing her position as the second largest trading partner with China.

According to the Chinese Ambassador to Nigeria, Zhou Pingjian, trade relations between the two countries nosedived from about $15bn in 2015 to about to about $3.1bn in 2016; resulting to Nigeria’s drop from her second position to fourth as trade partners.

Pingjian disclosed this during a visit of the House of Representatives Committee on Nigeria-China Relations to the

Headquarters of CGCOC a Chinese private company, in Abuja.

“Nigeria-China trade is declining fast. Nigeria used to be China’s number two trade partner in Africa, but it’s now number four”, the envoy stated.

He however expressed confidence that the situation can be improved upon with focus and implementation of policy agreements reached by the two countries and commended Nigeria for supporting the ‘One China Policy’. “We need to follow up on the outcomes of the Forum of China-Africa Cooperation summit and President Muhammad Buhari’s state visit to China in April last year”, he said.

The ambassador disclosed that one of the fall-outs of the president’s visit was the construction of the Agricultural Training Centre in Bwari, Abuja

by CGCOC to assist Nigeria’s diversification efforts.

Pingjian said with over $139tn Foreign Direct Investment, China is interested and ready to expand investment in Nigeria and urged the government to create enabling environment for investors to come in.

“As Chinese ambassador to Nigeria, I wish a small part of the $139bn could come to Nigeria”, he said, adding that as an ambassador he was willing to facilitate it.

Pingjian reiterated China’s

commitment to Nigeria’s economic revival and as well as readiness to support the nation’s economic diversification efforts.

Similarly, CGCOC Group Managing Director, Ye Shuijin who called for improved security in the country, noted that Chinese firms in Nigeria were ready to make greater contribution to the socio-economic development of the country.

Shuijin, who also doubled as Chairman of the China Chamber of Commerce in Nigeria expressed the need for the establishment of a Strategic Master Plan by Nigeria and China to fast track industrialisation of the country.

PenCom Puts FG’s 2017 Pension Liabilities at N113.02bn James Emejo in Abuja

The National Pensions Commission (PenCom) has put the federal government’s total pension liabilities for 2017 at over N113.02 billion.

The amount will cover 16,267 enrolled employees and 9,652 estimated deceased employees ofthefederalgovernmentaswell asemployeesyettobeenrolledby the Commission, to be included in the 2017 budgetary provision of the federal government.

Accordingtothecommission, the sum of N72.70 billion is being earmarked for 16,267 civil servantswhoaretomandatorily retire in 2017 (inclusive of 1,569 civil servants who retired before 2017 but had not been provided

for previously).

The sum of N19.14 billion will alsobesetasidefor9,652estimated deathclaims(20percentmarked up2016submittedclaimsasatAugust 2016). An additional N21.17 billion is set aside for estimate of employees yet to be enrolled by the Commission (2016 estimate marked up by 20 per cent).

These were contained in a memorandum submitted by the commission to the Senate CommitteeonEstablishmentand Public Service at the Budget Defence Session on the 2017 Budget Estimates for Appropriation, a copyofwhichwasmadeavailable to THISDAY. The document, which was presented to the lawmakers by PenCom Director General, Mrs.

ChineduAnohu-Amazufurther sought for the sum of N10.19 billion to pay all outstanding accrued benefits for deceased and mandatory retirees of the Federal Government for the periodsSeptembertoDecember 2014 as well as the sum of N41.71 billion being the shortfall in the 2016 Budget Appropriation.

Thecommissionalsorequested forapprovalofthesumofN31.37 billionforoutstandingmandates for seven and a half months in 2016inordertoeffectpaymentof outstandingaccruedbenefitsfor deceasedandmandatoryretirees of the Federal Government.

Alsoincludedinits2017budget proposal is the sum of N440.04 million to cater for the shortfall in the retirement benefits of 24

retired Heads of Civil Service of the Federation and Federal Permanent Secretaries who had earlierenrolledwiththeCommission and 16 Federal Permanent Secretaries scheduled to retire this year.

Meanwhile,thecommission’s total appropriation in 2016 was N849.92million,althoughN259.70 millionwasreleased,representing an average of about 30.6 per cent.

However,itgeneratedthesumsof N10.37 billion and N11.77 billion in internally generated revenue (IGR)in2015and2016respectively.

The commission however, proposed the sum of N849.92 million, made up of N99.92 million in overhead costs and N750 million in capital subvention for its 2017 operations.

Xenophobia: S’ Africans Attacked, Looted Nigerian Businesses, Says Union The Nigerian Community in South Africa have confirmed attacks and looting of Nigerianowned businesses in Pretoria West yesterday.

President, Nigeria Union, Mr. Ikechukwu Anyene, told the News Agency of Nigeria (NAN) on telephone from Pretoria, South Africa, that the attacks began

at 4.00am. He said the union had reported the incident to the Nigeria mission and South African police.

“As we speak, five buildings with Nigerian businesses, including a church have been looted and burned by South Africans. One of the buildings isamechanicgaragewith28cars

under repairs, with other vital documents,wereburnedduring the attack. Also, the pastor of the church was wounded and is in thehospitalreceivingtreatment,” he said. Anyene said the union hadinformedNigeriansinSouth Africa to be vigilant in the face of renewed xenophobic attacks.

According to him, the union

received information that there willbexenophobicattacksagainst foreigners on Feb. 22 and Feb. 23.

“Webegantakingprecautionary measureswhentheincidenttook place today(yesterday).Theattack inPretoriaWestispurelyxenophobic and a criminal attack because they looted the shops and homes before burning them,” he said.

Following the discontent over disparity in the payment of troops, the Nigerian Army yesterday said any of its personnel dissatisfied with its operations can voluntarily quit the service if they so desire.

In a statement, the Army Headquartersexplainedthatthe directivehasbecomeimperative given an orchestrated plan to cause trouble due to some policies in the Army.

“The attention of the Nigerian Army has been drawn to a campaign of calumny on social media platforms by some individuals or group of persons. The faceless persons have been making spurious and unfounded allegations borderingonpaymentoftroops’ operations allowances, rotation intheNorth-eastandcomparing troops’ pay to what obtains in neighbouring countries,” the Army authorities observed.

Director of Army Public Relations, Brig Gen Sani Usman said theArmy’sresponsecameonthe heelsof“acampaignofcalumny on social media platforms by some individuals or group of persons bordering on payment of troops operations allowances, rotation in the North-east and comparing troops’ pay to what obtains in neighbouring countries.”

Usmanstatedthat“fabricators are most probably being sponsored by the categories of people that frustrated themselves out of the Army and political self-defeatists. They are clearly sentimentalandlackknowledge of the Nigerian Army of today.

“Any soldier who is not satisfied with the professional drive oftheNigerianArmyandthatof the government can do himself a world of good by voluntarily discharging from the Nigerian Army,” the statement quoted the Nigerian Army as saying.

“The fabricators are most probably being sponsored by the categories of people that frustrated themselves out of the Army and political self-defeatists. They are clearly sentimental and lack knowledge of the Nigerian Army of today.

“However, investigation is ongoing to determine the full identity and source of this mischief and all those found connected with it will be dealt with in accordance with the extant provisions of the military justice system.

“We wish to reiterate that the Nigerian Army is a voluntary Service. We are not running a conscript Army, all those not satisfied are at liberty to apply for voluntary retirement or dischargeasthecasemaybe.We cannot afford to have disloyal or disgruntled elements in the system. Anybody caught to be involved in this ignominious campaign would have himself or herself to blame.

“TheNigerianArmyoftoday cannot be compared with that of any other period. So much has been done in the areas of operations, training, general administration, logistics and general welfare of troops and their families. The families of our fallen colleagues are being given adequate attention commensurate with the established terms and conditions of service.

“Additionally, the concern on troops’ welfare has been extended to their families through the creation of the Barracks Investment Initiative Programme (BIIP) in which officers and soldiers’ families and dependentsactivelyparticipate.”

He added that “the Nigerian Army has an elaborate exit plan for all officers and soldiers involved in the fight against Boko Haram terrorists in the North-east this year, subject to operational exigencies.

Eight Die in Boat Mishap in Benue George Okoh in Makurdi

Eight persons in Gums Local Government Area of Benue State yesterday lost their lives after a boat carrying them capsized while they were attending a burial ceremony.

Sole administrator of the area, Mr. Anthony Shawon, who disclosed this in a chat with newsmen in Makurdi, said the boat, which was conveying mourners, was overloaded when it capsized near Kaambe crossing point at Gbajimba.

He attributed the cause of the boat accident to heavy wind, adding that most of the mourners, who were reportedly heavily drunk, refused to heed to advice of the boat paddlers who had insisted they would ferry some number of persons across and return to carry others.

Angered by the incident, youths in the area held a protest making bonfire while alleging that the incident has a superstitious connotation.

During the process, Shawon

said three elders were stoned to death and their houses burnt while the district head of Gbajimba Gwatse Akaahena had the windscreen of his car smashed.

“On arrival in Gbajimba, I saw there was protest as the youths made bonfire alleging that the incident has a spiritual connotation.

I tried to calm them down.

But they went wild pursuing every elder in the area.

I then saw another group of Indian hemp smokers with machetes parading the area.

I reported the incident to the soldiers and mobile police who swiftly intervened and restored security to the area”, Shawon said.

According to him, no arrest has been made at the time of the incident.

Meanwhile, Benue State Police Public Relations’ Officer ASP Moses Yamu confirmed the incident, stating that there was mob action in Gbajimba just as normalcy has since been restored to the area while investigation into the cause has commenced.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ ͹΁˜ ͺ͸͹Ϳ

NEWS Fashola: We Must Change Current N’ Delta Narrative Emmanuel Addeh in Yenagoa

A week after the acting President, Prof Yemi Osinbajo, visited Bayelsa, with the promise of a new vision for the Niger Delta region, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, yesterday in Yenagoa, urged all stakeholders to work towards changing the ongoing negative conversation

around the region.

Fashola, who inspected some federal road projects in the state, including the Okarki-YenigweKolo road leading to Ogbia, former President Goodluck Jonathan’s local government and the popular East-West road, called on governors of the oil-rich area to ‘step up’ in collaboration with the federal government and change the face of the Niger

Delta.

He admitted that the government at the centre has not had as much impact as it should in the region, even with substantial resources at its disposal, but promised that with the renewed attention on the Niger Delta, things would soon change.

While noting that development can only take place in an atmosphere of peace, the former

Lagos governor vowed to complete major road projects in the state, working closely with all stakeholders.

“We need to find peace here very quickly and the story must change. This is one of the reasons we have come here; to see if what is being reported about this place is true. And this is not a place where the story suggests you can’t work.

“But we need to get more ambassadors who will say ‘I work here, I live here. This place is safe’. And that’s what encourages people to come out and address the infrastructure work that needs to be done here.

“But we can only do that by collaboration, by peace and partnership. Not only do the governor and I have our work cut out for us, but the governors

and his colleagues in the South South must step up now and change the conversation around this place”, the Minister said.

Fashola, who acknowledged the difficulty of infrastructural development in the region because of the terrain, stressed that the Niger Delta remains of huge importance to the federal government and therefore deserves all the attention it can get.

Algorithm Media Announces Partnership with GroupM Blessing Abah Algorithm Media recently hosted Corporate leaders & marketing communications stakeholders to a thought-leadership panel discussion, as part of the activities marking the official unveiling of the company and the announcement of its partnership with GroupM – the world’s largest media services company, and a subsidiary of the world renowned WPP. At the occasion, senior Nigerian business leaders, and global experts from WPP and GroupM came together to discuss the topical issue of connecting with the consumer in this declining economy. The event, hosted at the Four Points by Sheraton attracted the heavyweights of multinational and local businesses.

Speakers at the event included Mr. Peter Njonjo, President, Coca-Cola West Africa; Mrs. Juliet Anammah, CEO, Jumia Nigeria; Mr. Nnamdi Okonkwo, CEO, Fidelity Bank Plc. Ms. Mo Abudu, CEO, EbonyLife TV and Mr. Michael Ikpoki, immediate past CEO, MTN Nigeria. Mr. Ernest Ebi, Chairman, Fidelity Bank Plc and former Deputy Governor, Central Bank of Nigeria, chaired the occasion.

During the panel, there was a lot of emphasis on price to value dynamics given the affordability issues experienced by Nigerian consumers currently, in the light of their shrinking disposable incomes. Njonjo had this to say “To come out stronger and earn greater loyalty from consumers, companies must invest more and launch affordable products in tough times like the current recession. They must also be costconscious so they are not under margin pressures given that there is little or no headroom for pricing”.

There was also the manifestation that in spite of the downturn in the economy, some businesses are doing well, as shared by Julie Anammah. She said: “the consumers are going back to basics; smartphones are still doing well because consumers don’t want to jeopardize communications, groceries, FMCGS, health and fashion products are still holding up, but high-value electronics like TVs have been impacted”.

The main take-away from this event was that Algorithm Media would be looking to make a difference in the industry because of its in-depth understanding of the consumers and its ability to provide media solutions that connect with them, both discreet and specific.

In his welcome address, the convener of the event and Founder/Group CEO of Algorithm Media, Mr. Seni Adetu said “We have the leverage and the opportunity to collaborate with GroupM on activities that

include content creation, digital advertising, proprietary tool development and other businesscritical capabilities.

“As a glocalised media specialist company, we aim to become the “go to” media agency for creative media planning and

buying. When the client needs reassurances of commercial benefits from their media spend and 110% governance assurance, we would ask they speak to us”, Adetu said.

In attendance were several Boardroom titans including

Chief Olusegun Osunkeye; Mrs. Ibukun Awosika, Chairman First Bank; Otunba Gbenga Daniel, a former Governor and founder of Kresta Laurel; Paul Gbedebo, MD/CEO Flour mills Nigeria Plc, Chief Dugard, Group MD Tower Aluminium Plc; Enase

Okonedo, Dean, Lagos Business School; Bunmi Oni, former Cadbury Plc CEO; Emeka Onwuka, Former CEO, Diamond Bank; Mr. Udeme Ufot, Founder SO&U; Alhaji Garba Kankarofi, Registrar, APCON; Olorogun Sonny Kuku, Asiwaju SK Onafo-

wokan, Prince Yemi Adefulu; Dr. Yemi Ogunbiyi; Nike Ogunlesi; Pastor Idowu Iluyomade, Ken Onyali-Ikpe; Frank Aigbogun and Chief Mrs. Moji Dokpesi; among others; with an audience of Marketing Directors from across various industries.

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ͯͷ˜ ͰͮͯͿ ˾ THISDAY, THE SUNDAY NEWSPAPER

OPINION Metaphors of A Sick Nation President Buhari has become the best advertisement for the ills of the nation’s health sector, writes Emmanuel Ojeifo

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t a time when millions of Nigerians are anxious – for good or for ill – about the state of health of our president, it is fitting to talk about the state of our nation’s healthcare institutions. Right now, President Muhammadu Buhari seems to be the most remarkable metaphor of the sickness of our nation, and why the national sickness has defied both the rational remedies of prescribed medication and the expertise of certified physicians. In the last 18 years since our return to democratic self-governance, Nigeria has succeeded in producing two sick presidents, whose physical condition of health reflects the frailty of our nation, but which has also taken its toll on the collective wellbeing of our people.

In 2007, President Umaru Musa Yar’Adua demonstrated a sincere resolve to tackle the problems of Nigeria, but a pact with destiny did not permit him to fulfil his mandate. Although he acknowledged that the election that brought him to power was marred by massive irregularities, he had hardly set in motion a series of electoral reforms when he fell to the ravages of cancer in May 2010. In his moments of ill health, we saw how the dark side of human nature tried to take advantage of the greater good of the nation. Olusegun Adeniyi’s book, Power, Politics and Death (2011) is both a chilling and thrilling testament to how a handful of power-hungry politicians around the corridors of power – the president’s men – attempted to hold the nation to ransom.

We hope and pray that 2017 will not turn out to be a replay of that sad episode of our national history. I wish President Buhari well. I pray that he returns home in good health, with the readiness to rededicate himself to the urgent task of nation building. But I also hope he has had the opportunity to do serious soul-searching on the travails of our nation under his leadership.

If there is one thing his moment of sickness has revealed, it is simply that his government has lost both popularity and goodwill across a vast cross-section of the Nigerian populace. I am not sure if he will ever be able to reclaim both. I know that Nigerians are an infinitely patient group of people. Their elastic capacity to bear with almost anyhow is both startling and legendary. But a time comes when their resilience reaches a point of no return. We hope that the state of affairs does not degenerate to that point.

Right now, with social disruptions, restiveness and public protests brewing all over the place, on account of the acute

hardship in the land, President Buhari and his men should undertake a major examination of conscience on the raison d’etre of their government. All is not well with Nigeria under Buhari, and he knows it. Under Buhari, life has become so cheap in Nigeria. On a daily basis the orgies of bloodshed in the heart of our nation is making us lose our sensitivity. When a government cannot secure the lives and property of its citizens, one then wonders what it exists to do. And this is a signpost of the lethargic attitude that pervades all aspects of Buhari’s government. The self-styled leadership attitude of Buhari has mortgaged, and continues to mortgage, the lives and future of millions of Nigeria.

After nearly two years on the saddle, it is both lame and defeatist to put the blame for the mess we have found ourselves on his predecessor administration. President Buhari must now accept both personal and collective responsibility for his inability to lift our nation from the abyss of morass and desolation. He must now ask himself why he became president. A president who has spent the best part of

It is a sad commentary that the National Hospital Abuja, a visionary project executed during the military regime of General Sani Abacha less than 20 years ago, which would have served as a national monument of excellence in medical healthcare, has been run down due to government neglect and inept leadership

his vacations since 2015 on seeking medical attention in European hospitals should ask himself whether this attitude is the best aptitude for good leadership.

After 56 years of independence, Nigeria has no single worldclass hospital. For more than two decades, Nigerian leaders have made choice hospitals in Europe their healthcare destination, despite all the promises of tackling the decay in our nation’s public health sector. It is a sad commentary that the National Hospital Abuja, a visionary project executed during the military regime of General Sani Abacha less than 20 years ago, which would have served as a national monument of excellence in medical healthcare, has been run down due to government neglect and inept leadership. Even in worse conditions of disrepair are our nation’s teaching hospitals and federal medical centres. These institutions were established to provide sound education, practical training and public service in different aspects of modern medicine to medical students and the general public. But sadly today they are bogged down by technological backwardness, infrastructural decay and institutional disaffection, making them centres of rot and death.

The State House Medical Centre was established at public expense to provide medical services to the President, Vice President and their families, aides, staff of the State House and other entitled public servants. Yet these categories of public officeholders rather prefer to undertake medical tourism to overseas hospitals with Nigerian taxpayer’s money, thereby making nonsense of the huge budgetary allocation for the maintenance and upgrading of the facilities at the State House Clinic. When during his election campaign President Buhari promised to end medical tourism, which has robbed our nation of progressive development in the health sector, many Nigerians thought he was serious. Today, this same president has become the best advertisement for all that is wrong with our nation’s health sector.

I wish Mr Lai Mohammed and his co-travellers on the value reorientation train, launched amidst widespread intellectual copyright controversy, in September 2016 will kindly remind the president, just in case he has forgotten, that “Change begins with me!” With all the rich human and natural resources that God has endowed our nation, there is absolutely no reason why we should be where we are today with regard to public healthcare.

Ojeifo is a Catholic priest of the Archdiocese of Abuja

CBN And Nigeria’s Forex Market The central bank is yet to keep strictly to the foreign exchange act, argues Nduka Ikeyi

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he Central Bank of Nigeria (CBN) has been consistently criticised for the manner in which it has managed Nigeria’s foreign exchange (forex) market. One of the complaints is the directive by the central bank to commercial banks to allocate 60% of their forex sales to the manufacturing sector and at the rate advised by the CBN. The second major complaint is that the CBN has refused to allow a complete float of the exchange rate, by dictating to the banks (and bureau de change (BDC) operators) the rates at which they may deal. By these actions, the CBN has been accused of causing distortions in the forex market, and these distortions have either further caused, or have manifested in, the reduced supply of forex to the “official” market, the existence of multiple exchange rates, and the wide gap between the “official” exchange rates and prevailing exchange rates on the “parallel market” and “black market”.

I will however quickly add that whilst I understand the concept of a “black market” in which illegal forex transactions are executed, I think that the concept of a “parallel market” is a euphemism adopted in an attempt to legitimise illegal forex transactions conducted by entities that purport to have the licence to carry on such transactions. As far as the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act (Foreign Exchange Act or the Act) has enacted, there is only one lawful market for the conduct of forex business in Nigeria, namely the authorised foreign exchange market (Afem); and in which transactions are to be conducted in accordance with the provisions of the Act (see s. 1(1) of the Act). The act also warns that nothing therein shall be construed as permitting any unrestrained or general dealing in forex on terms inconsistent with its provisions (see s. 11(a)). Section 7 of the act further enacts the parties that may conduct transactions in that market. Also, the fact that transactions as between different participants in the Afem may be conducted at different rates does not mean the existence of more than one lawful market for the conduct of forex transactions in Nigeria. Indeed, s. 9 of the Foreign Exchange Act, by permitting parties to a forex transaction to freely determine the rate of exchange for their specific transactions, suggests (clearly in theory) the possibility of a multiplicity of rates in the market. And this takes me back to the two complaints against the CBN. If, as indeed is unarguable, s. 9 of the act permits parties to an exchange transaction to determine the rates at which they would execute their transactions, then the CBN is entitled to determine the rates at which it would sell the forex that it brings into the market.

(The CBN also has power under the act to sell and purchase forex; and it may be that this power exists independently of its right to participate in the Afem under the Foreign Exchange Act.) And given that the CBN is an agency of the government, the independence of the CBN does not preclude it from acting in a manner that would promote the economic policies of the government, including promoting any sector of the economy by preferential forex allocation. This is more so in a context in which there is an acute shortage of forex, and other local exigencies exist, for which it may be argued that the undirected hands of the market (market forces) cannot be trusted to allocate this scarce resource appropriately. However, the CBN should not extend this directive to cover forex that it has not brought into the market. I therefore do not think that the CBN has acted unlawfully by allocating 60% of the forex that it brings into the market to the manufacturing sector and fixing the price at which the forex should be sold. Questions may however arise as to how the 60% is allocated amongst eligible manufacturers: but this concern, though legitimate, is not the thrust of the complaint that I have heard consistently.

On the other hand, if we could defend CBN’s action in fixing the rates at which it may sell the forex it brings into the Afem by reference to s.9 of the Foreign Exchange Act, then the CBN would be acting in violation of the law by going further to fix (in any manner whatsoever, including moral suasion) the rates at which authorised dealers deal with their customers in regard to forex that is supplied to the Afem by other sources permitted by the act, not being the CBN (see s.4 of the act). For the avoidance of doubt, s. 9 of the act provides that “[t]he rate at which each transaction in the Market shall be executed shall be the rate mutually agreed between the applicant purchaser and the Authorised Dealer or Authorised Buyer concerned”.

I had in an earlier article “The Foreign Exchange Act and the ‘devaluation’ debate: Are we suffering the effect of official breach of existing law?” (published in THISDAY, May 12, 2016) argued that the debate around whether to devalue the naira or not may be redundant if the CBN respected and allowed s. 9 of the act to apply; and that the CBN was acting in breach of the law by fixing the rates at which transactions in the Afem not related to funds brought into the market by the CBN were executed. And we had thought that in its subsequent policy change, which occurred in June that year, the CBN had abandoned the path of unlawfulness.

As a government committed to the rule of law, the Hon. Attorney General of the Federation would do well to advise the CBN to desist from this breach of the Foreign Exchange Act, which is also causing distortions in the Afem. If this is done, foreign investors and other lawful forex earners would bring in their forex through the banks as provided by the act and exchange it for the naira at rates agreed with the banks. What this means also is that at the time of repatriation of capital or earning on the investment, the foreign investor will also go the bank and they will agree a mutually acceptable rate: and in this case, the foreign investor cannot be heard to say that the CBN has not provided enough forex to enable it to repatriate its capital or earning, because the CBN did not intervene in any way at the time it brought in the investment into Nigeria. This would also mean fewer headaches for the CBN. But it also does not mean that the CBN may not provide additional forex liquidity to the Afem subject to availability and as may be appropriate from time to time.

Apart from the complaints addressed above, it would also appear that the CBN is breaking the law in one, the sale of forex to BDCs, and two, permitting BDCs to sell forex to members of the public. And this is another major source or cause of distortion in the market. I’ll deal with this matter in detail in a subsequent article: but it would suffice to say at this time that s. 41 of the Foreign Exchange Act contemplates that BDCs should operate only as “authorised buyers” (not authorised dealers as the CBN would seem to think). This means that the role of BDCs should be limited to “buying” transactions”, not “currency exchange transactions”. To the extent that forex is, unless otherwise determined, commodity in the non-issuing state, BDCs may therefore, as authorised buyers, only buy forex from members of the public as a commodity, and pay for same with naira (just the way one pays for the purchase of any other commodity in Nigeria with the naira). A transaction in which a BDC (which is licensed as an authorised buyer as contemplated by the act) “sells” forex to a member of the public is not a “buying transaction”: it is rather a currency exchange transaction. This is because the naira, which is what the BDC receives from the member of public in that transaction, is not a commodity that is capable of being bought (with forex) in Nigeria.

––Ikeyi, a former Attorney General and Commissioner for Justice in Enugu State, is a partner in Ikeyi & Arifayan law firm in Lagos

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

LETTERS Why The Admission Policy Must Be Reviewed

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here is no doubting the fact that one of the major problems responsible for Nigeria’s perceived backwardness is what the pundits call policy summersault. Simply put, frequent changes in administrative frameworks and procedures or governmental matrix, often resulting in taking two steps forwards and 10 others backward. The moment a new government is installed, one can be so certain that there will be an absolute or partial discontinuity with some policies, many of which may have hitherto yielded positive results.

Much as one will like to admire creativity and innovativeness on the part of our newly elected governors, appointed ministers and heads of parastatals, the damage that some of them do cause, often in a misguided attempt to initiate new policies, is unimaginable. With incessant policy summersault, we are almost like the clowns in a circus show.

In consonance with the social metaphor in which

Adamu, Minister of Education

“new lords bring about new laws”, some of these newly appointed players unwittingly draw the nation back by the manner with which they arrogantly cancel timetested policies and introduce fresh ones. They abandon on-going projects, initiated by their predecessors and originate new ones which

they may not even be able to complete before the expiration of their tenure. But how can a nation develop with this kind of attitude?

Obviously, this is the kind of scenario that is playing out in the education sector where the Minister, Mallam Adamu Adamu, last year announced the cancellation

of Post-Unified Matriculation Examination (UTME) test, conducted by all tertiary institutions of learning, as a quality-assurance mechanism. Mallam Adamu argued that the universities were using the Post-UTME test to extort money from candidates and also subjecting the candidates to multiple examinations.

Consequently, the minister directed that the combination of school certificate examination results and the performance at the Joint Admission and Matriculation Board (JAMB) -conducted examination should be used as requisites for admission. The minister’s position generated heated debate, thereby polarising education stakeholders, with the majority insisting that Post-UTME test should be maintained. Eventually, the minister had his way. The 2016 admission exercise was carried out without the ritual of Post- UTME test, but not without its overwhelming hiccups!

However, the perceived demerits of the new admission policy precipitate this write

ABATI: THE NEW POSTER BOY?

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ne of the books I read with relish when I was in the secondary school was the Bottled Leopard written by Chukwuemeka Ike. One of the themes was culture shock when the protagonist, Nwachukwu who called himself Chuk, was sent by his father who was based in the United States to go back to Africa to learn more about his culture as he was of mixed race and saw himself more as an American.

He had an encounter with a stern prefect fondly referred to as ‘Hammer’ because of his no-nonsense attitude. The latter invited him to his cubicle and attempted to have carnal knowledge of him. He reported it to the school authorities who then stripped him off his prefectship.

I could perfectly relate to this since I attended Kings College in Lagos where some gays whom we called faggots or fags for short were accepted as one family by the majority of the straight students. Nobody was discriminated from playing football or cricket which were the two most popular sports on account of their sexual orientation. You only had to be a bit careful when telling them to accompany you to go to the Queens College Inter House Sports as was the usual practice among KC boys as your genuine intentions could be misconstrued.

Fast forward to last year when I worked with a national newspaper as a journalist on the online beat. I stumbled on the story of the death of Akinnifesi Olumide Olubunmi in an obscure blog. I checked the websites of our competitors and saw it wasn’t there and so I rushed to the news editor to seek his permission to quickly upload

it. He gave me a cruel look which I interpreted to mean ‘Are you nuts? How dare you!’

I was angry because no one had any right to take another person’s life irrespective of his or her sexual orientation. President Muhammadu Buhari got me angrier when he consoled the victims of the Orlando club shootout and neglected to give a single mention to his fellow departed citizen who was butchered to death in nearby Ondo State.

The activism streak in me was revived and I volunteered with a prominent LGBT organisation in Lagos and vowed to use my writing and advocacy skills to stop the violence against the sexual minorities.

However with the passage of time, I began to get uncomfortable as it was clear that my then ‘allies’ were not satisfied with my altruistic motives to put a stop to the violence that they suffered.

There was subtle pressure on me to buy into the ‘equality’ agenda which I objected to on religious grounds. As a practicing Roman-Catholic, I am totally against gay marriage and make no apologies for it. Why couldn’t my religious views be respected while we worked in harmony to prevent another needless death?

I was also criticised for trying to sell the idea of a conversion therapy as my interactions with some ex gays revealed that the nature argument was completely fallacious. I was bashed and called a homophobe for drawing attention to the fact that my fellow Christians were facing bitter persecutions for merely expressing their anti-gay views openly especially on social media.

Some lost their jobs, became destitute and kicked out of school all because they spoke the truth.

It was crystal clear that the ever expanding LGBT acronym was

a subtle plot to coerce the rest of the world to buy into their ideology with brutal sanctions for dissidents whether on religious grounds or common sense.

I was surprised when renowned columnist and former spokesman of Goodluck Jonathan, Dr. Reuben Abati was invited as the keynote speaker at a symposium organised between The Initiative for Equal Rights (TIERS) and Y Naija which was held last year.

As expected he faced a lot of criticism especially from Bisi Alimi, the nation’s first openly gay man who was a founding member of TIERS before he went on exile to the UK. When the dust settled, Abati made it clear that his views were liberal and he respected the fundamental human rights of all irrespective of sexual orientation.

He went on to make known the plight that these people suffered from extremists who always made them a target of their ruthlessness. He opined that there was no structure on ground to protect these people from harm and took a surreptitious swipe at the same-sex marriage prohibition law which his erstwhile boss signed into law and made an appeal for an evolution in the thinking of Nigerians so that the interests of these minorities could be better accommodated.

Abati’s summation didn’t hit me by surprise. I wasn’t disappointed because he let us down by being Jonathan’s lap dog and refusing to throw in the towel when his image teetered to the nadir, it was because the LGBT globally has as its core agenda the portrayal of an initial victim image while buying time to emerge into full-fledged bullies.

Abati failed to mention that the Senate under David Mark’s

leadership gave room for some of the sexual minorities to air their views in its hallowed chambers on the same-sex marriage issue.

He omitted to tell the world the hypocrisy of the west when it came to the granting of asylum of some of the members of the community.

Favour, I won’t mention his surname here spent a year in Wales and was still deported back to the country for not convincing them that he was ‘gay’ enough. Many African LGBT members are being deported on a daily basis. Not a single condemnation on this hypocritical act! He failed to mention the silent indoctrination of minors through cartoons in their ‘catch them young mission.’

There was palpable silence on the fact that this agenda is fast constituting a great threat to free speech which is also an inalienable right of man. This threat is not just something faraway in countries where the asinine act is legal, its presence is real here. The former coach of the Super Falcons, Eucharia Uche revealed that she was combating lesbianism in the camp which was a clog in the wheel of the team’s progress and all hell was let loose with homophobic slurs cast at the poor woman.

I remember when I went for a Toastmasters speech delivery on the family and I started by saying that the family is made up of a man, a woman and their children. A Caucasian stopped me and reprimanded me for being insensitive to the reality of the existence of the ‘LGBT family.’ Some Nigerian members of the audience then nodded their heads in total agreement and all I could think of was the colonial mentality hit song which remains a favourite of mine from the stables of Abami Eda. ––Tony Ademiluyi, Lagos.

up with a view to subtly and humbly urging the minister and his supporters to have a second look. Perhaps, a little background to the introduction of Post-UTME test is relevant here. The idea of Post UTME test was mooted in 2003/2004 academic session in the University of Ibadan, during the senate’s consideration of both final year and non-final year students. The credit goes to the retired Prof. Afolabi Bangboye who noticed that some of the students who were asked to withdraw from the university on account of poor performance, gained admission with high scores from JAMB. Prof. Bamgboye, an erstwhile Deputy ViceChancellor (Administration) who called the attention of the university’s senate to his curious observation later questioned the credibility of JAMB -conducted examination results, wondering why a candidate who scored 300 marks at JAMB could not defend his purported academic wizardry in the university even right from the first year! There and then, a decision was taken that quality-assurance mechanism be put in place, hence, the beginning of Post-UTME test as an additional huddle before gaining admission.

Interestingly, the PostUTME test had run for almost 13 years before the current minister reversed the modus operandi.

However, the new method which was used last year, which may still be used this year, apparently places much premium on good performances at both school certificate examination level and the JAMB. For instance, the system says five “A1” at West African Examination Council (WAEC) result amount to 40 percent. Again any candidate, according to the new system, who scores 230 and above at JAMB gets 60 per cent. The addition of the two performance determines the candidate’s admission status!

Clearly, the emphasis is on “A1” irrespective of how you got it at WAEC and a superlative score from JAMB. With good money, can that be too difficult to obtain using Nigerian factor? Bad enough, the new admission policy has just created a big business for the operators of “Miracle Centres” as desperate candidates will now find solace in patronising “miracle centres” where mercenaries will be employed to get “A1” in five subjects. Given the past experiences, it is possible to manipulate one’s way both at WAEC and JAMB and then secure admission fraudulently at the expense of hard working and brilliant candidates! Sadly, we are back to where we were before the advent of post UTME test.

Asked to assess last year’s admission exercise with the new policy, the Ul Admissions Officer, Mrs Morenike Afolabi said “we had a tough time coping with a large number of candidates.

Some candidates fraudulently filled in high grades for themselves to gain undue advantage. But we got them later. We know that come next admission exercise, people will come with nine “A1”, but water will always find its level with time.

Even if they gain admission fraudulently, by the time they get to 200 level, they will be asked to withdraw if they can’t cope. But they would have wasted spaces meant for genuine students”.

Mrs Afolabi further stated “ it is the post-UTME test that really determines the capability of students, but since this is the policy of the government, we are helpless.

Government is the proprietor of the school, however they want it, is what we will do.

Once they see the shortcomings of this present policy glaringly, I am sure they will modify it.”

––Sunday Saanu, Directorate of Public Communication, University of Ibadan

B UHARI ’ S E MERGENCY C RITICS

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ome people need to apologise to former President Goodluck Jonathan. This is because most Nigerians know they campaigned against Jonathan in the 2015 presidential elections just for personal gains and not for patriotism. Their selfish expectations from the President Muhammadu Buhari government have not materialised. So, suddenly Buhari’s “health” has now become their topic of discourse in the morning, afternoon, nights and on their beds.

Now they are informing us they did this; they did that for The Buhari

Organisation (TBO) since 2003. Irritating! Let them know that the ONLY item that kept and is keeping Buhari ‘afloat’ is the ordinary man in the street. If not of the ordinary-man’s trust and belief in Buhari, is there a political-leader in Nigeria today that can take some of the stringent economic decisions Buhari took and most Nigerians will still not come out of the streets? Buhari’s true supporters applaud the government whenever they do well; they also criticise the government when it makes mistakes.

––Zayyad I. Muhammad, Jimeta- Adamawa State

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THISDAY, THE SUNDAY NEWSPAPER ˾ ͯͷ˜ Ͱͮͯ͵

INTERNATIONAL Chinese Companies and the Development of Telecommunications and Agriculture in Nigeria

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ino-European competition for influence in Africa, in general, and Nigeria, in particular, is gradually becoming more interesting than ever before for many reasons. First, Chinese influence is increasing to the detriment of that of Europe. For example, the Chinese are quietly providing the assistance Africans want. They are settling down in various nooks and crannies of Africa while providing the assistance. Africans are not much bothered about this, but the Western countries are much worried about the development: their traditional spheres of influence are believed to be under critical threats from Chinese active presence in Africa. They are much worried because of the ease with which the Chinese are given the right of establishment in many parts of Africa. In fact, many talk about land grab by the Chinese but it is not seriously taken by the local populations.

In the eyes of many observers in Europe, Africans complain rightly or wrongly about European domination and exploitation but they are also much surprised that the same Africans who are critical of western exploitation are the same people seeking to replace European exploitation with that of China. Thus, Chinese presence is expected, sooner or later, to be exploitative or that it cannot but follow the direction and style of the West.

If you ask the Chinese whether they have an agenda for domination or exploitation, they would simply respond and argue that it is the Europeans who consider African countries as friends or allies.

They would, in addition, remind you that they are a developing country, or, if they want to show that all animals are equal but that some are more equal than others, they would describe themselves as the biggest or largest developing country in the world in order to suggest that the Chinese are with the African people.

In this regard, the Chinese see themselves and relate with Africans as brothers and not as ordinary friends. In other words, Sino-African ties are not managed on the basis of simple friendship but on brotherliness predicated on umbilical cords of rapprochement. It is this closeness that have prompted many observations on what really informed this factor of brotherliness in China’s relations with Africa.

For instance, the Dean of the Lee Kuan Yew School of Public Policy at the National University of Singapore, Kishore Mahbubani, once noted that ‘two myths have been concocted by the West on Africa: that the Western impact on Africa has been benign while China’s record in Africa has only been negative. The truth in both areas is more complex’ (vide Robert Rotberg (ed.), China into Africa). To an extent, what really has been the impact of Western Europe on Africa’s development? The more development aid is given by Europe to Africa, the more the corruption in political governance and the more the poverty of ideas and subservience.

Comparatively speaking, in which way is or will the Chinese development assistance not be the same as that of Western Europe?

Dwight H. Perkins of the Economic Department and former Director, Institute for International Development, Harvard University, has it that ‘the informed public in the United States and elsewhere has become aware of China’s increasing involvement in SubSaharan Africa but only a handful of studies have attempted to go in depth into the nature of that involvement.’ Why is this so? What is responsible for the increasing involvement of China in Africa?

What really is the nature of the Chinese involvement in Africa?

One possible explanation as to why there has been a handful of studies on the Chinese involvement in Africa might be the initial closeness of the Chinese society before the December 1978 reform which opened up the country to the world. Before the opening up, the Chinese had been engaged in self-reappraisal in preparation for provision of leadership in the conduct and management of global questions. Another explication is the non-acquisition of a global status, as well as non-engagement in global controversies, serious enough to warrant global attention of scholars. As many questions are constantly asked on the dynamics of the increasing

What is important to note is that the Chinese ambassador took his guests to Huawei, one of the leading telecommunications organisations in the world, and the CGCOC, which is another giant in the agricultural sector.Thus, it is apparent that the ambassador wants to showcase the feats of the Chinese companies in Nigeria to underscore the fact that it may not be sufficient to give a dog a bad name in order to hang it

VIE INTERNATIONALE with

Bola A. Akinterinwa Telephone : 0807-688-2846

e-mail: bolyttag@yahoo.com

Dr. Zhou Pingjian, Ambassador of China in Nigeria

involvement of China in Africa, and particularly on the nature of their involvement, it dawn on the Chinese to provide explanations to their host countries.

Probably it is in an attempt to provide some answers that His Excellency, the Ambassador of China to Nigeria, Dr. Zhou Pingjian, extended invitation to some Honourable Members of the House of Representatives, the Président and Directeur Général of the Bolytag Center for International Diplomacy and Strategic Studies (BOCIDASS), Professor Bola A. Akinterinwa, Yaba, Lagos to visit some Chinese companies in Abuja, Nigeria. Invitation was also extended to the Secretary-General of the Nigeria-China Friendship Association (NICAF), Dr. Tunde Emmanuel, and to some media organisations.

What is important to note is that the Chinese ambassador took his guests to Huawei, one of the leading telecommunications organisations in the world, and the CGCOC, which is another giant in the agricultural sector. Thus, it is apparent that the ambassador wants to showcase the feats of the Chinese companies in Nigeria to underscore the fact that it may not be sufficient to give a dog a bad name in order to hang it.

The Visit to Huawei and the CGCOC The visit to Huawei in Abuja, a Chinese multinational networking and telecommunications equipment and services company, and the CGCOC is quite interesting from the academic perspective. At the Huawei, specifically organised for the BOCIDASS resource team (including Professor Warisu Oyesina Alli of the University of Jos, Professor Victor Ariole of the University of Lagos, and Ambassador Dokun Fagbohun), the philosophy of the founder, Ren Zhengfei, was underscored. Zhengfei founded the Huawei in 1987 and located its headquarters in Shenzhen in Guangdong. The CGCOC has become internationalist.

Huawei began with the manufacturing of phone switches but has diversified to include building telecommunications equipment, networking equipment and semiconductors. Its products include mobile and fixed broadband networks, consultancy and managed services, tablet computers and multimedia technology.

With a total profit of US $5.685 billion in 2015, total assets of US $57.319 in 2015, and a total equity of US $18.339 in 2015, as well as more than 170,000 employees in 2015, Nigerians have a good justification for seeking a better understanding with the Chinese.

What is particularly noteworthy is that, of the 170,000 staff of the company, 76,000 of them were engaged in Research and Development (R&D) in 2015 in its 21 R&D institutes located in many countries of the world: Russia, United Kingdom, United States, Belgium, France, Israel, etc. This is a clear illustration of the importance attached to research in the development of nations and businesses. In Nigeria, R&D is not always seriously taken, but in countries where national development is much taken as a priority, it is always given priority.

Huawei came to Nigeria in 1999. It currently has 2000 staff, 70% of whom are local recruits. It devotes 10% of its resources to R&D and currently has 36 Joint Innovation Centres, 45 training centres, and 16 R&D centres. And true enough, the Huawei has been ranked the first ICT solution Provider and the 129th on the 2016

Fortune 500. This recognition cannot be separated from the great emphasis being put on research and in light of the fact that it currently serves 45 top 50 global operators and remains second to none in Africa in terms of operator market share. Without doubt, the appreciation of the place of academia and research in the success of businesses is clearly spelt out by the founder, Zhengfei, who was a former engineer with the People’s Liberation Army.

According to Zhengfei, ‘intellectuals and knowledge workers are the natural combatants and challengers of rules and order. The traditional theories and practices of business management don’t often delve into the subject of managing knowledge workers. As the world faces the profound and pervasive challenges of Internet culture, Ren Zhengfei’s management philosophy has presented modern management science with a complete set of theories and methodologies for managing this unique group of creative thinkers.’

The importance of this quotation is to raise questions about intellectuals and knowledge workers in Nigeria. The knowledge workers are not limited to the universities. Journalism is necessarily a knowledge industry. This is why we have been talking about academic journalism and that this column combines the ethics of both the academia and journalism. The legal profession is another knowledge industry. However, how are journalists treated in Nigeria? What level of importance can academics lay claim to in terms of sustainable research?

Another thought-provoking quotable question raised by the Huawei is this: ‘how did tomorrow begin’? This question can first be looked at as meaningless and grammatically wrong. If we are looking at the word ‘tomorrow,’ then the word ‘did’ cannot but be inappropriate. However, if we look at the context of the question, that is, how did ‘tomorrow’ or future of the Huawei would begin in the past, the question can be tenable to an extent. The essential point to note is that the management of the Huawei is largely influenced by philosophies and this also goes a long way in explaining the dynamics of the success of the organisation.

Regarding the trip to the CGCOG Group, it should first be noted that the company was initially known and addressed as CGC Overseas Construction Group. Its predecessor was CGC Nigeria which was founded in 1983. It became CGCOC in 2002. Secondly, Honourable Yusuf Buba Yaqub, representative of the Gombe/ Hong Federal Constituency of Adamawa State and Chairman of House Committee on Nigeria-China Relations, led a 5-man delegation to the company. The delegation comprised Honourable Sylvester Ogbaga, representing Abakaliki/Izzi Federal Constituency of Ebonyi State; Honourable Olusunbo Olugbemi, representing Oluyole Federal Constituency in Oyo state; Honourable Austine Chukwukere, representing the Ideato North/Ideato South; and Honourable Awaji-inombek D. Abiante, representing Andoni-Opobo/Nkoro Federal Constituency.

While the Chinese were explaining how they had gone through several ordeals to survive, and particularly how they have been able to impact on national development in Nigeria, the legislators placed greater emphasis on what their various constituencies could quickly gain. The CGCOC was generally commended for choosing Nigeria as a major demonstration centre. According to the annual ranking of the Engineering News Record, the CGCOC is among the 100 largest contractors based on international projects.

Honourable Yusuf Yaqub recognised this position.

The legislative team also noted that the Chinese have a welldeveloped steel industry and that sharp sand is normally required for the making of glass and such sand is in abundance in their areas.

Hence, there is the need for Chinese help. Besides, they called for Chinese assistance in the energy and agricultural sectors.

The CGCOC, it was observed, has its activities mainly located in the northern part of the country and therefore was advised to do more to cover the entire country. The Managing Director of the CGCOG Group, Mr. Ye Shuijin, explained that 50% of its members are in Lagos and its environs but recognised the need to do more.

He promised to do better with the support of the Ambassador of China in Nigeria, Dr. Zhou Pingjian.

Ambassador Pingjian, who appreciated the powerful character of the delegations, assured the delegations of the honest determination of China to assist Nigeria. He said the visit has its importance from the fact that the delegation was comprised of senior academics, legislators and media practitioners. The ambassador believes that there is much progress in Nigeria-China relations in spite of the teething challenges in the relationship. He wishes that, no matter how little, let Nigeria benefit from the $170 billion pledged by the Government of China to Africa at the China-Africa summit held in South Africa. As he put it, ‘the political commitment of China is very strong.’

The challenge for Nigeria is how to draw lessons from the fact that China had a zero Foreign Direct Investments in 1978 but could boast of $1.7 billion FDI three years ago?

Nigeria’s Foreign Policy Attitude Nigeria’s foreign policy attitude towards the conduct and management of Nigeria-China relations is largely responsible for slow pace of development of the relationship. First of all, hardly is there any immediate follow-up in terms of implementation of bilateral agreements done. In the Francophone settings, comités de suivi (follow-up mechanisms) abound but do not exist in Nigeria.

(See concluding part on www.thisdaylive.com)

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T H I S D AY SUNDAY FEBRUARY 19, 2017

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

BUSINESS QUICK TAKES

Devaluation

A textile market in Lagos

Again, Experts Seek Coordinated $SSURDFK WR 7DPH ,QÁDWLRQ James Emejo

The headline index seems to be moderating given the measures adopted by the Central Bank of Nigeria (CBN) to stabilise prices. But economic analysts believe a more coordinated approach, incorporating fiscal measures, would reverse the rising streak.

The Consumer Price Index (CPI) which gauges inflation further rose to 18.72 per cent (year-on-year) in January compared to 18.55 per cent in the previous month, according to the National Bureau of Statistics (NBS). This translated to an increase of 0.17 per cent.

With the January inflation, it would be the 12th straight month inflation has increased. While inflation may yet not assume a southward trajectory anytime soon, the pace of increase is closing up.

The NBS had attributed the 0.17 percentage month-on-month increase to increases recorded in all the divisions which contribute to inflation.

The faster pace of growth in inflation during the period under review was in bread and cereals, meat, fish, oils and fats, potatoes, yams and other tubers.

Increases were further recorded in wine and spirits, clothing materials and accessories, electricity, cooking gas, liquid and solid fuels, motor cars and maintenance, vehicle spare parts and fuels and lubricants for personal transport equipment and passenger transport by road.

The continuous rise in inflation means more hardship in the economy which is already deep into recession, worsened by the huge fiscal challenges and corruption.

Notably, the average price per litre of household kerosene paid by

ECONOMY Nigerians increased by 87.12 per cent to N433.84 in January from N231.85 in December 2016.

Similarly, the average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 35.28 per cent to N5,508.16 in January from N4,071.63 in December 2016.

Rising inflation also means that lending rates will continue to increase because creditors including banks will want to put rates above current inflation rate.

Unfortunately, the premise that the harvest season will go a long way to dampen inflation is already faulted as prices continue to soar.

Economic policy analysts, however, believe it may be difficult to tame inflation using tradition tools because it’s more driven by factors than demand.

They agreed that until some macroeconomic issues including infrastructure, unemployment, foreign exchange, among others are addressed, managing inflation may be elusive.

Speaking in an interview with THISDAY on the rising headline index, Associate Professor and Head, Banking & Finance Department, Nasarawa State University Keffi, Dr. Uche Uwaleke, improvement in agriculture and infrastructure will go a long way in changing the current inflation trajectory in the country.

According to him: “The increase in headline inflation to 18.72 per cent in January from 18.55 per cent in December last year should not come as a surprise to any close watcher of inflationary trend in Nigeria especially since January last year when it was just 9.6 per cent, slightly above the

CBN threshold of 9 per cent.

“The fact remains that headline inflation, which has been on a northward journey in the last one year, is chiefly as a result of the twin effects of fuel subsidy removal by the government and the forex policy, which the CBN had to adopt in the first half of 2016 in response to plummeting oil revenue.

“While the impact of the former on the cost of fuel, transport, electricity, and food prices has been unfavourable to say the least; the latter, which meant a much higher exchange rate, The headline index seems to be moderating given the measures adopted by the Central Bank of Nigeria (CBN) to stabilise prices

resulted in high costs of clothing, housing, books, raw materials and also food items.”

Continuing, he said: “These factors, which are largely non-monetary, have remained the key drivers of inflationary pressure in Nigeria in recent time. This is why the CBN appears helpless in taming inflation using the traditional tools at its disposal which are more suited to tackling demand-pull inflation, a situation complicated by economic recession and an illiquid forex market.

“In the present circumstance, a well-coordinated fiscal policy requiring spending in critical areas such as agriculture and infrastructure will go a long way in changing the current inflation trajectory in Nigeria.”

Also, economist and former acting Unity Bank Managing Director, Mr.

Muhammed Rislanudenn, said it’s time for change of approach to managing inflation as with negative GDP growth and recession, monetary policy alone could not deal with it.

According to him, “Our inflation was not induced by any demand pressure but rather induced by change in prices of goods due to increased dollar exchange rate leading to cost push and imported inflation. From the NBS latest data, food inflation is assuming a worrying dimension. We are boxed up in a period of reduction in output, rising prices of goods and services as well as unemployment or stagflation.

Inflation rate has been rising month on month from 9.6 per cent in January 2016 to 18.72 per cent in January 2017.

“It is time for change of approach to managing inflation as with negative GDP growth and recession, monetary policy alone cannot deal with it.

“Monetary tightening has been in place since early last year with aim of taming inflation and stabilising the exchange rate. Both have defied the pill and continue to head northward with negative effect on output and prices. Solution requires actionable, harmonised fiscal, trade and exchange rate policies.”

“There must be synergy in policies and monetary and fiscal authorities need to come up with policies that complement rather than contradict each other.

“Being an import dependent economy, we must reform our exchange rate policy to facilitate integrity and transparency and support more foreign portfolio, direct as well as diaspora investment thereby supporting liquidity and stability in the foreign exchange market,” he added.

The governors of the 36 states of the federation stopped short ofcalling for thedevaluationofthenaira,whenthey expressedconcernoverthecontinued freefallofthelocalcurrencyagainstU.S. dollarontheparallelmarketandcalled onthefederalgovernmenttourgently reviewtheforeignexchangepolicy,with aviewtoreducingthegapbetweenthe parallel and official market rates.

However, the call by the governors can only be achieved by fully floating the currency and allowing it to be market determined, which would lead to the devaluation of the naira.

Briefing State House correspondents at the end of the first meeting of the National Economic Council (NEC) in 2017, which was presided over by acting President Yemi Osinbajo, the Deputy Governor of Nasarawa State, Mr.SilasAgharasaidthattheGovernor oftheCentralBankofNigeria(CBN),Mr. GodwinEmefiele,hashoweverappealed for patience.

Hesaid:“Afterabriefpresentationonthe forexpolicyoptionsbytheCBNgovernor, councilmembersgenerallyexpressed concernoverthecurrentexchangerate and called for an urgent review of the forex policy, especially with respect to reducing the gap between interbank and the parallel market rates.

“The CBN governor sued for patience and understanding, assuring that the situation was being closely managed.”

The call by the members of NEC, comprisingthegovernorsandthevice president,forareviewoftheforexpolicy that would close the gap between the interbankand parallelmarkets,can be achieved by the free float of the naira, effectively leading to the devaluation of the nation’s currency.

Eurobond

One week after its issue, Nigeria’s $1 billion Eurobond has started trading on the London Stock Exchange (LSE).

The 15-year government bond, paying a coupon of 7.875 per cent, is the longestevermaturityforaninternational Nigerian bond, the first international issuance for the country since 2013.

The offer was nearly eight times oversubscribed, with the order book closing at approximately $7.7 billion.

Thelistingsecuredhighqualityinvestors’ supportfromacrosstheU.S.andEurope and will support Nigeria in financing its long-term infrastructure projects, a statement from the London Stock Exchange Group (LSEG) said.

“Today’s(Thursday)listingbuildsonthe recent pipeline of several high profile sovereign, supranational, municipal and private company bond issuances on London Stock Exchange.

“InJanuary2017,Israellisteditslargest everEurobondofferingof€2.25billion in London,” LSEG said.

Paris Club

Thestategovernorshavesaidthatthey are ready to take on the EFCC, which is investigating them over the alleged diversionoftherefundsmadetostates arising from the excess charges on Paris Club debt. After a meeting at the PresidentialVillainAbuja,thegovernors, under the aegis of the Nigerian Governors’Forum(NGF),saidtheywouldawait the report of the EFCC investigation.

Speculation has been rife that some states allegedly diverted the refunds madetothemfromtheParisClubdebt deductions,promptingtheinvestigation by the EFCC. Somestateswerealsoallegedtohave used fictitious consultants to divert some of the money from the Paris Club refunds.

Worriedbythedevelopment,thepresidency reportedly ordered a full-scale investigation into the disbursement of the funds.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

BUSINESS/ECONOMY

A market bustling with activities on Lagos Island

The Green Shoots of Recovery Are Here: A Steady Rise in Foreign Exchange Reserves Olaseni Durojaiye writes on the steady rise in the nation’s foreign exchange reserves, accompanied by the recently oversubscribed $1 billion Eurobond

T

he steady rise in the nation’s foreign exchange reserves in the last three months and the success of the recently issued $1 billion Eurobond, which buoyed the Central Bank of Nigeria (CBN) to target a $40 billion forex reserves threshold by the third quarter of the year has begun to generate measured excitement amongst economic policy analysts and operators in the economy.

Recent statistics on the CBN website revealed that the foreign exchange reserves increased from $24.0 billion on November 9, 2016 to $28.7 billion on February 9, 2017.

The widely held expectation is that the accretion holds promises of improvement in the nation’s economy particularly in the FX markets as some analysts opined that it is capable of solving the FX challenge in the economy.

However, a few others argued that the rise must be matched with appropriate policy to address the demand and supply sides of the FX challenge, insisting that without the appropriate policy the increases may not impact the economy.

While some traced the foreign reserves increase to the gradual increase in crude oil receipts, owing to jump in oil price and oil production, some money market experts insisted that the slowdown in allocation to the FX markets by the CBN might have contributed to the reserve accretion.

The apex bank toed this line. An official of the bank who was part of the country’s delegation that went on a road show to the United Kingdom and the United States reportedly insisted that the strategy adopted by the apex bank helped to boost

investor confidence in the economy and the country’s ability to meet its foreign obligations, leading to the success of the recently oversubscribed Eurobond.

The CBN official had stated: “With a comfortable level of FX reserves, foreign investors will be assured that once they want to take their funds out, they can do so without hindrance.

“If you noticed, once reserves fell to as low as $21 billion, investors were not attracted to the Nigerian economy, irrespective of whether we devalued or whatever we did with the FX market. As long as they felt that you had insufficient reserves to meet your foreign obligations, they were not going to remain comfortable about investing in the Nigerian economy. They continued to exit the economy. What this means is that investors need to feel comfortable with your level of FX reserves and your ability to meet your obligations when they fall due.

“So instead of the CBN getting distracted by the debate over devaluation or no devaluation, it has focused on reserves accretion, which as you know, helps to attract investors during the Eurobond sale last week. Given what we know, the target by the CBN is to increase reserves to $35 billion by the middle of this year and $40 billion by the end of the third quarter,” he said.

However, concerns bordering on sustainability of the foreign reserves accretion persist, given that records indicate crude oil sales account for the swelling of the foreign till.

While some currency and economic experts are not sure if the current accretion is sustainable amid a falling naira and shortage of the greenback in the FX

markets and the economy, others feared that a slump in the international oil market could affect the accretion.

Besides, the concern, investigations revealed, is further fuelled by the amount spent by the apex bank to defend the local currency last year. It will be recalled that despite the staggering fall in the value of the naira in 2016, the CBN spent $4 billion to defend the naira against the greenback and other major currencies during the period.

The defence of the naira by the CBN was severely criticised by economists who argued that forces of demand and supply should be allowed to determine the exchange rate of the naira.

Stakeholders React Speaking to THISDAY, an economist and senior analyst with the Nigerian Economic Summit Group, Wilson Erumebor, stated that, “The facts here are pretty clear. Accumulation of reserves to about $30 billion is largely as a result of a higher crude oil price and relatively stable output. If both scenarios linger, reserves would continue to increase in 2017 and could hit 40 billion as anticipated.”

Continuing, Erumebor insisted that, “Nigeria’s issue of $1billion Eurobond being oversubscribed should not be a surprise. Take a look at Ghana for instance that issued a $750 million Eurobond in 2016 with yield of 9.25 per cent. Despite the fact that Ghana has been experiencing some economic challenges in the past few years, the bond was more than five times oversubscribed.

It is clear that investors are looking for high yields in developing market. The yield is also a function of the perceived risk of

the bond. So, the higher the level of risk associated with the investment, the higher the expected returns. If you look at the global landscape, currently, government bond yields for many developed countries lie between 0 and 3 per cent. Only few developed countries, such as Greece, for instance, have yields of around 7 per cent due to their economic challenges. With this, a 7 per cent yield from a country like Nigeria is attractive to investors,” he explained.

Also, in his submission, a Port Harcourt, River State-based analyst, Ezeh Wordu, explained that the accretion could ensure a “relatively stable” exchange rate.

According to Wordu, “A positive spill-over effect of this is also relative stability in exchange rate due to increased supply of FX in the interbank market. This also reduces the prospects of a wider exchange rate premium, that is, the difference between the official and parallel markets,” he stated.

Meanwhile, in looking beyond the oversubscribed Eurobond, analysts have identified some of the key sectors that government should fund with the Eurobond to include industrial parks, agro-processing and other infrastructure needs of the country including power generation and distribution.

“I think a bigger issue we should pay attention to is the use of this proceed. What projects will be funded with the money derived from the sale of the Eurobond?

In my view, such funds should be used strategically to finance the building of industrial parks, agro-processing zones and other targeted infrastructure projects with high-value and direct impact on government revenue, the business environment and citizens,” Erumebor stated.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

BUSINESS/ECONOMY

Formulating Nigeria’s Economic Recovery Plan Preparatory to the launch of the Economic Recovery and Growth Plan sometime this February expectations are high and opinions are diverse on the best way to go in formulating the plan, which is expected to put the economy on the path of recovery and growth, writes Kunle Aderinokun

L-R: Vice President Yemi Osinbajo, Minister of Budget & National Planning, Senator Udoma Udoma, Minister of Power, Works & Housing, Mr Babatunde Fashola, during the 2nd Presidential Quarterly Business Forum at the State House Banquet Hall, Abuja in January

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ince the advent of the recession that has been plaguing the economy, the journey to recovery has been tortuous. While efforts have been made by the federal government to pull the economy out of its challenges, they have been without form and plan. That has necessitated the call by stakeholders, economic analysts and market watchers for a blueprint to set the economy on the path of recovery, achieve growth and stability. Because there is a dearth of fund and no articulated plan, the implementation of the budget has been a struggle and particularly the 2017 budget, which lies before the National Assembly is already witnessing a setback. The expected financial leverages from multilateral development financial institutions are long in coming because such borrowings demand a recovery and growth plan as prerequisite. Only recently, the President of the African Development Bank (AfDB), Adewunmi Adesina, at World Economic in Davos, Switzerland, hinted that the pan-African financial institution would not release the second tranche of Nigeria’s $1 billion loan, which is $400 million, to the Nigerian government, except it produces an economic recovery plan.

“We are waiting for the economic policy recovery programme and the policy framework for that,” said Adesina.

Ditto the World Bank and other foreign institutions.

The Bretton Woods institution and others, where Nigeria seeks to borrow a total of $4 billion are also expecting the federal government to have a clear roadmap to take the economy out of the quagmire.

In realisation of this, the Acting President Yemi Osinbajo, who was also in Davos assured the international community that the Nigeria Economic Recovery and Growth Plan (ERGP) would be unveiled in February. This was after President Muhammadu Buhari’s New Year message, announced the government was working on the ERGP, would be anchored on optimising the use of local content and empowering local businesses.

According to Osinbajo, who spoke on the side-lines of WEF, the newly developed ERGP of the Buhari administration has been specifically designed to take the country out of recession and in the long term continue to grow the economy.

Few days after this, Minister of State for Budget, Senator Udoma Udo Udoma, during the Second Presidential Business Forum presided over by Osinbajo , at the Presidential Villa in Abuja announced that the medium-term Economic Recovery and Growth Plan (ERGP 2017-2020) was being

finalised to address current economic challenges, restore growth and reposition the economy for sustained inclusive growth.

Dropping the hint that, while 59 strategies had been developed for implementation to achieve the strategic objectives of the ERGP, he stated that 12 of them had been prioritised based on their import to the success of the ERGP. The strategic thrust, which contained 12 plans , includes ramping up oil production to 2.2 million barrels per day (MBPD) attaining 2.5 mbpd by 2020, privatising selected assets, accelerating non-oil revenue generation, drastic cost cutting, aligning both monetary and fiscal policies and expanding infrastructure especially in the power sector, roads and rail as well as revamping the existing four refineries in the country.

Other strategies, the minister disclosed , are ease of doing business, expanding social investment programmes and delivering on transforming the agricultural sector, promote export as well as accelerating implementation of the National Industrial Revolution Plan using special economic zones as well as focusing on priority sectors to create jobs among others.

Economic analysts have, however, described these 59 strategies as generic and not the articulated plan or the blueprint that all and sundry have been waiting for. As such, they contended that so-called strategies are not capable of lifting the economy out of the murky waters of recession.

While Nigerians and the international community are waiting for the ERGP of the government, there are suggestions as to what should form part of the plan. Although opinions are myriad on the recipes for recovery of the beleaguered economy, notable economic and policy analysts, who spoke to THISDAY, have presented their proposals for the ERGP. A renowned economist and Director-General, West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Ekpo, said the ERGP should identify expenditures on capital projects with a view to reversing the economic challenges.

In fact, Ekpo advised that the plan should articulate policies and strategies that would deal with the structural problems of the economy such as power, roads, railway.

According to him, “From what government is saying, the plan has two components namely the economic recovery and then the growth trajectory.

The economy is in a recession hence the plan should identify expenditures on capital projects to reverse the downturn. There is also the need to articulate policies and strategies that would

deal with the structural problems of the economy such as power, roads, railway, among others.”

In addition, Ekpo, who is a former CBN director, suggested that, “government should put forward how best to bail out states owing areas of salaries to workers.” This, according to him, is “crucial for stimulating aggregate demand. Nigeria’s recession is of a special type requiring fiscal and structural palliatives.”

Pointing out that, “The recession affects both the demand and supply sides of the economy,” he noted that, “It is important to include in the plan how best to deal with vulnerable groups as well as the unemployed.”

Asking, “If the government is able to spend and get the economy out of the recession technically then what next?,” he said, “I say technically because a marginal but positive growth of say 0.05 per cent can get the economy out of the recession but the problems of rising unemployment, inflation, high lending rates would remain.”

“It is within this context that the growth component of the plan is important. In order to sustain a positive growth trajectory exceeding the population growth, fiscal, monetary and structural policies are required. During the recovery phase, the type of monetary policy becomes pertinent.

It is expected that the plan would articulate how monetary policy would stimulate growth in specific terms; same goes for fiscal and structural policies, “ he added.

Besides, Ekpo posited that, the growth component should identify targets for various sectors and how the targets would be realised.

“I expect the plan to explain how the Nigerian economy would remain competitive globally. The plan must articulate the role of government and the private sector. It is expected that the plan should make projections up to the year 2020. The monitoring and evaluation process should be part of the plan. Assuming that the economy grows at 4 per cent at the end of the plan, it is important to note that growth is only a necessary condition for development. Lest we forget growth may not result in development hence it is the role of government to continuously deal with development matters so as to move millions of Nigerians out of poverty.

The successful implementation of the NERG plan will re-start the journey to development,” he stated.

In his own suggestion, Director, Union Capital Markets Ltd, Egie Akpata, noted that he expects the economic blueprint to contain “market-tested and proven strategies to solve the immediate short term problems facing the economy.” By short term, he meant things that could have an impact in 2017.

Akpata also said, “On a longer term basis, there needs to be a focus on bringing private funds into building and running major infrastructure projects.”

According to him, “It is not likely that the FGN will ever have the funds to build out the infrastructure of this country. And borrowing to fund these projects might be suboptimal given the historical track record of the government with delivering value for money when it comes to large projects.”

Rather, he added, the Federal government should be focused on social development which seems to be given less priority based on how funds are spent in the current budgets.”

“Funding for education and healthcare should be at the very top of the list as there are really no known private sector solutions which can change the major health and education indices where Nigeria is lagging behind the rest of the world.”

Akpata submitted that, “Without fixing these social problems in health and education , long lasting development needed to lift the masses out of poverty will be difficult to achieve.”

Similarly, Analysts at Eczellon Capital Ltd expect the ERGP to address the key structural economic anomalies that will alter the status-quo of the Nigerian economy and put it on a sustainable growth path in the medium to long term.

Specifically, the analysts expect the plan to address at least four key areas.

One area they want the plan to contain “A detailed framework/modality on how to harmonise trade, monetary and fiscal policies of the government.

The second is for it to have “Initiatives geared towards diversifying the nation’s foreign exchange earnings which is tied to crude oil at the moment.”

Thirdly, they proposed “Defined role(s) for the private sector to enhance collaborations between the public and private sectors in productive sphere of the economy especially in financing huge infrastructural projects.

And lastly, the analysts are advocating, “Reforms in the delivery of public institutions cum services and how the government intend to improve the ease of doing business indicators in the country, which should invariably enhance overall productivity of the Nigerian economy.”

The Eczellon Capital analysts noted that, “Irrespective of the content of the plan we reiterate the need for it to be SMART (Specific, Measureable, Achievable, Relevant and Time-bound),” stating that, “Anything short of this may render the ERGP to be another bogus document that may have little or no impact on the economy like previous economic development plans.”

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T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž FEBRUARY 19, 2017

BUSINESS/TRANSPORT

Assessing the Impact of Ban on Vehicles through Land Borders Although the expectation is that the federal government ban on importation of vehicles through WKH ODQG ERUGHUV ZLOO LPSURYH VKLS DQG FDUJR WUDIÀF DW WKH QDWLRQ¡V SRUWV \HW SULFHV RI YHKLFOHV LQ 1LJHULD KDYH JRQH XS E\ PRUH WKDQ SHU FHQW ZULWHV Francis Ugwoke

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n the next two weeks, the ban on importation of vehicles through the land borders would be two months. It is one policy measure that would have impact on many Nigerians. Already, the effect is beginning to be felt by various stakeholders . The effect could either be positive or negative. For the ports, the landlord of the system, the Nigerian Ports Authority (NPA), the Nigeria Customs Service, NCS and terminal operators, it has been a good economic measure. However, it is a different thing for the small importers, customs clearing agents specialising in the border stations and the larger Nigerian low income earners. A visit to Seme and Idiroko border stations shows that there has been a lull since the past few weeks since the ban took effect. For the vehicle dealers and clearing agents, there has not been any business. Many of the agents have had to sack their staff. Some have had to relocate to the seaports to ďŹ nd business. It is the same for those whose business in the borders is to smuggle cars through the porous routes. For customs ofďŹ cers in the border posts, everywhere is tight as nobody wants to be found wanting at such a critical time in the life of the Nigeria Customs Service. With recent interception of a container of 661 pump action ries illegally released at Apapa port, every ofďŹ cer is on his toes at his duty post. Apart from the arrest and detention of the three ofďŹ cers involved, there is the likelihood that the ofďŹ cers would be prosecuted. It would be the end of the career of the ofďŹ cers. With this in mind, every ofďŹ cer posted at the border routes is careful not to allow any illegality that will put him at the risk of losing his job.

The Ban It was in the ďŹ rst week of December last year that the federal government announced the ban on importation of vehicles through the land borders. The ban was said to have been suggested by the Comptroller-General of Customs, retired Col. Hameed Ali, who felt that it would address years of revenue losses to the federal government. It was gathered

With improvement in the trafďŹ c at the ports, it is expected that the operators of the Roll-on-Roll-off (RORO) terminals, who have been worried for some time over the diversion of vehicles meant for Nigerian ports to neighbouring ports will be back to business. The RORO terminals have been hit by low trafďŹ c due to economic recession, forex crisis and high customs duties on vehicles

Some used vehicles on display at automobile market in Lagos that the Customs does not realise enough revenue from the border posts as a result of fraudulent practices at the border stations involving ofďŹ cers and importers.

Apart from huge revenue losses through smuggling of vehicles through porous border routes with the connivance of some unscrupulous customs ofďŹ cers, importers who pass through the ofďŹ cial channel to bring in their goods short-change the government in duty payment on vehicles.

They do this by conniving with some customs ofďŹ cers. So, by placing a ban on importation through the land border, the federal government has ended the revenue losses as every importer of vehicle into the country would have to go through the seaports.

Rising Prices of Vehicles Since the ban took effect, the prices of vehicles in the country have gone up by more than 50 per cent. This is for two reasons. Cars which come through the border posts are usually cheaper because the duty is not the same with those that come through the seaports. Besides, before the ban, any Nigerian can easily cross the border and buy any car of his choice for personal use at a cheaper rate. There are many Nigerians who had to simply go to Cotonou to buy their car instead of going to the car dealers here in the country. It is the same for some dealers who bring in their cars through the border stations and are prepared to offer better prices. With the ban, such chances are no more. A car dealer, Mr Tony Ovie, who spoke to this writer said that the ban on importation of vehicles through the land borders had left low income earners to their fate. With the rate of ination and hardship in the country, he said only very few Nigerians with low income will be able to save to buy cars of their dream. He added that

this would equally be the fate of small scale transporters who would need to buy Tokunbo buses.

Losers The December ban on importation of vehicles through the land borders has dealt a big blow on many importers, who may not want to go through the seaport.

The process involved in bringing goods through the seaport takes a lot of time and resources. Many small time importers do not bring vehicles through the seaports.

They use the land borders. Those are the ones that buy like three or ďŹ ve vehicles, or even one and bring back into the country to sell. It takes them a matter of days and the vehicles are in Nigeria. In this category of importers, you ďŹ nd those, who are ready to pay duties and those who simply â€˜ďŹ‚y the cars’, a phrase for smuggling their vehicles in and getting fake import documents for registration.

This explains why some of the vehicles are intercepted on the way by the Customs after they have been sold. Even when the importers pay duties, government would still have been short-changed. It is not the same for big time importers who would go to Europe, buy cars in dozens and bring them into the country. As much as there is no system that is without fraud, it cannot be compared with what happens at the border routes. So, with the ban, all the fraudulent practices through which government loses huge sums of revenue are put to check. Now, it would be suicidal for any importer to try to smuggle any vehicle through the bush paths into the country. The risk is very high.

Gainers For the NPA, Customs, terminal operators, shipping companies and customs agents operating in Lagos, this is a

period to smile. It is expected that the Customs which revenue target for this year is N900billion will meet this target as all the loopholes in the border posts have been closed. It is the same for NPA, shipping companies and the terminal operators which revenue is determined by the trafďŹ c at the ports. Although, the maritime sector has been hit by the larger economic recession and the Central Bank policy on foreign exchange, it is expected that there will be an improvement this year compared to what the situation was last year. An ofďŹ cial of the NPA said that there was optimism that the trafďŹ c would improve in the next few weeks.

The ofďŹ cial, who pleaded for anonymity said it was too early to expect so much increase in trafďŹ c as some people were yet to decide on the next line of action after the closure of the border routes. It is expected that by the middle of this year, trafďŹ c at the ports in terms of increase in vehicles import will begin to show clearly.

A customs agent, Mr Kasie Ejike, told said right now, some importers who have been using the border were yet to decide on using the seaports. “They have been waiting to see if government can change its mind on the policy based on the call for this by many Nigerians, including members of the National Assembly. So, if it becomes clear that there is no going back, the importers will have no choice than to use the seaportsâ€?, he said. With improvement in the trafďŹ c at the ports, it is expected that the operators of the Roll-on-Roll-off (RORO) terminals, who have been worried for some time over the diversion of vehicles meant for Nigerian ports to neighbouring ports will be back to business. The RORO terminals have been hit by low trafďŹ c due to economic recession, forex crisis and high customs duties on vehicles.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

BUSINESS/ENERGY

The Fresh Moves to End Militancy in Niger Delta The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has set up new plans that could bring to an end militancy and oil assets vandalism in the Niger Delta, writes Chineme Okafor

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n his recent monthly podcast, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, unveiled a 20-point agenda aimed at establishing permanent peace in the Niger Delta, the country’s oilproducing region, which has in the last one year, seen increased acts of militancy disrupt oil production from it.

According to him, militancy in the Niger Delta has deprived the country and the region a lot of benefits from the oil industry. He said his new 20-point agenda would adopt approaches that could reverse these trends and bring back the benefits to all stakeholders in the region.

The minister noted that at the height of the militancy, Nigeria lost billions of dollars in oil revenue as attacks on facilities slashed oil production from 2.2 million barrels per day (mbd) to 1mbd in 2016. This was further made serious by low oil prices.

To tackle the scourge, he said his ministry would in collaboration with relevant stakeholders embark on a fresh campaign focused on periodic micro-based productive engagements with all stakeholders in the Niger Delta, inter-agency collaboration on the development of the region, ring-fenced state approach to security of the communities and production assets, and investments inspired by peaceful conditions.

He also explained that within the agenda, one modular refinery would be built in each of the Niger Delta states, with 100,000 jobs created over the next five years from focused investments in gas for electricity generation.

The minister, however, noted that the success of the agenda would be determined by a peaceful Niger Delta, and that states or communities that balk on providing peaceful conditions for the agenda would be denied its benefits while those with remarkable showings would get more in reward for their constructive cooperation.

Targets Captioned“Oil Sector Militancy Challenges…

Roadmap to Closure,” Kachikwu said in his podcast that with the Niger Delta crisis and a 45 per cent drop in oil production, Nigeria faced a tough financial time in 2016. He stated that the government had very little revenue to work with and that the new agenda would be holistic in addressing issues of revenue drops from acts of militancy.

According to him, the attacks on oil and gas facilities and sub-optimal performance of the refineries meant that Nigeria could not meet its international obligations across board and with oil operators.

He noted that despite several efforts by successive administrations to tackle the militancy in the Niger Delta, a permanent solution was yet to be found. He was thus confident that his 20-point agenda would from its planned consistency in engagements, achieve a final closure on this.

“The problem has been the absence of consistency, even before President Obasanjo’s administration and it went on with other governments – Yar’Adua and Jonathan’s,” he said, while identifying past steps like the setting up of the Niger Delta Development Commission (NDDC) and the 13 per cent derivation for oil producing states, which were taken to end the region’s development crisis.

He said the present administration has also made efforts to end the crisis by launching a seven-point roadmap, engaging the oil-producing communities and sustaining the Amnesty Programme for the repentant militants.

According to him, efforts to sustain the programme were however, being hampered by declining oil revenue as the present admin-

Members of the Military Joint Task Force on inspection of vandalised pipelines in Niger Delta

istration only gets 55 per cent of the revenue that was available to previous administrations.

Insisting that the administration is determined to tackle the militancy and achieve peace in the region, Kachikwu noted that it would be bullish in its focus on remedying the environment of the Niger Delta which he said was also rich enough for aqua tourism for revenue generation.

To clean-up the environment, Kachikwu said Buhari would continue to implement his sevenpoint agenda and other behind-the-scenes engagements of the relevant stakeholders.

The first point on the 20-point agenda he plans to launch, he said, would be for oil companies to engage the state governments and communities on issues affecting a particular state.

The second point he noted would focus on inter-agency collaborations between the Ministries of Petroleum Resources and the Niger Delta, as well as the NDDC on crosscutting development and operational issues of the region.

According to him, the third point would be a ring-fenced approach to ending the militancy. On this, he stressed that the Federal Government would stop dealing with militancy as a national issue and adopt a state-by-state approach to ending it on the ground that each state in the region appeared to have peculiar challenges that prompt militancy in their areas.

Kachikwu also said government would focus on creating 100,000 jobs in each of the oil-producing states in the Niger Delta in the next five years, while the Amnesty Programme would be decentralised because the Federal Government could no longer fund the programme alone as a result of dwindling oil revenue.

Another plan under the agenda Kachikwu said would be adopted was the “Security Holds Hands Approach”, which he said was aimed

at strengthening security in the region through the collaboration of all the relevant agencies.

He also identified peace and investment initiatives as another focus in the new agenda.

He stressed that peace encourages investment, while crisis serves as a disincentive to investment, and that the agenda would encourage states in the region to continue to pursue peace in exchange for improved investment.

The minister equally added that there would be a core business focus wherein the Federal Government will continue to attract business opportunities to the Niger Delta, stressing that at the core of the militancy was the lack of economic opportunities for inhabitants of the region to earn decent lives for themselves and their families.

He said the setting up of cottage industries and business startups in the region will encourage violent agitators to shun militancy and engage in business activities that will earn them good incomes.

Another item on the agenda, he said, would be for the government to focus investments on gas-to-power projects for steady power supply in the Niger Delta.

Kachikwu said that oil companies would be encouraged to embark on revamping oil and gas infrastructure in the Niger Delta, in addition to focusing on the “clean-up of our mess”. He noted, in this respect, that the government had launched the Ogoni clean-up exercise which should restore the environment of Ogoni land.

Other aspects of the 20-point plan included the domestication of oil and gas business opportunities to achieve greater participation of the people of the oil-producing region without excluding other Nigerians.

In addition, he said a development fund will be launched and foreign investors would be attracted to the region.

He said the government would also encourage education programmes in the Niger Delta to make the people embrace education and shun militancy. He stated that the Amnesty Programme would be launched on a state-by-state basis to create opportunities for 5,000 to 10,000 youths in each states of the region.

Further on security and peace, Kachikwu explained that ensuring justice for all the stakeholders in the region would be the major plank of the agenda, while the government would continue to strengthen the military and other security agencies to maintain peace as it would no longer accept instances of militants holding the country to ransom.

Additional Teamwork Also, the Minister of Environment, Amina Mohammed, said the government’s efforts in addressing the Niger Delta challenges would require additional teamwork from stakeholders like International Oil Companies (IOCs) operating in the region.

Mohammed, in an interview with Arise Network, specifically stated that IOCs in the region will have to show reasonable acts of responsibility in the clean-up of the region’s environment.

She noted that the volume of work required to restore the region’s environment was enormous, and could not be done by the government alone.

The minister also disclosed that the Federal Government will update the United Nations Environmental Programme (UNEP) report on the devastation of the environment of Ogoni land which was released in 2011, to enable it to do a detailed clean-up of the environment.

(See concluding part on www.thisdaylive.com)

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

23

BUSINESS/ENERGY

A distribution station

Waiting on Discos to Validate MDAs’ Debts The Federal Government wants the 11 electricity distribution companies (Discos) to submit records of debt owed them for electricity supplied to its ministries, departments and agencies (MDAs) in the past. It said only this would facilitate repayments to them, but only four of the Discos have responded, prompting the issuance of a time limit to the remaining seven. Chineme Okafor writes

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n 2016, the 11 Discos told Nigerians that debts owed them by MDAs of the Federal Government across the country for electricity supplied to them were huge and crippling their operations.

They said through their association the Association of Nigerian Electricity Distributors (ANED) in May 2016- that the total electricity debts owed by the MDAs of the federal, state and local governments totalled N78.7 billion.

Briefing journalists then, ANED gave a breakdown of the debt profile, and noted that the Nigerian Army was the single largest debtor to the Discos with a reported debt figure of N38.75 billion.

Following the Army on the inglorious list which ANED showed was the Nigerian Airforce with N3.09 billion, Navy - 3.3 billion, Police - N4.66 billion, Customs - 528.78 million, Prisons - N895.6 million and Immigration N47.8 million.

The association further said that federal ministries and parastatals owed the Discos N9.98 billion in unpaid electricity bills they accumulated over time, and that state governments owed them N16.21 billion while local government owed N1.16 billion.

The record according to ANED apportioned the Discos’ share of the debt as follows: Abuja Disco - N18.6 billion, Benin - N5.9 billion, Eko - N8.6 billion, Enugu - N7.2 billion, Ibadan - N6.8 billion and Ikeja - N5.9 billion.

Others such as Jos were reportedly owed N6.5 billion, Kaduna, Kano, Port Harcourt and Yola Discos were owed N8.2 billion, N1.2 billion,

N6.88 billion and N2.46 billion respectively.

They, in this regard called on the government, especially the Federal Government to clear its share of the debt, adding that this constituted a huge drawback on their operations and the industry’s overall performance.

Perhaps wary of this and its import on the electricity market, the government picked up the complaints of the Discos on the MDAs debts, and in response requested each of them to submit their claims for verification by it and thereafter payment of the reconciled figures.

The government, in a seeming show of fair play and commitment to address the challenges of the market, said it would allow the Discos some good time to collate, verify and present their individual debt claims to it. It, however, noted that it would not accept a collective figure as debt claims because it would not guarantee the authenticity of such.

Request Taking the Discos to task on transparent settlement of their claims, the government asked them to present their individual claims.

It said it would reimburse every verified claims of the Discos on this ground and then opened a window of collaboration, which it expected them to maximise.

Few months after, it reminded the Discos that the window was still open and claimed that very few of them had leveraged it to claim their entitlements.

Though nothing was said by the Discos on their sudden lack of enthusiasm for this, the government again came out to announce last

Monday that just about four of them – Abuja, Ikeja, Yola, and Ibadan, had submitted their debts records, and they were being verified for payment on first come, first serve basis.

Considering the sort of pressure applied by the Discos in their initial requests and claims of impacts of debts on their operations, experts in electricity market cash flow expected that they would have made the most of the window to claim their unpaid debts, but this has not been the case.

The government, in response to this lethargic approach of the Discos, then issued them a 15-day time limit which should expire by the end of February, to submit their records.

No Verification, No Payment Though it did not state what would be its next line of action if the Discos fail to heed its request, the government however stated that seven of the 11 Discos that are yet to submit accurate records of their alleged MDAs debts would have just 15 days to turn in their records for verification.

It explained that Eko, Enugu, Port Harcourt, Jos, Kaduna, Kano, and Benin Discos have not responded to this call, indicating that they perhaps do not have accurate data to back their claims.

While the 11 Discos consistently claimed that the MDAs were running into billions of naira, they however appeared to have tarried in submitting their records to the government for verification, a development industry experts said was strange.

The communiqué, which contained the

government’s deadline to the Discos was from the 12th edition of the monthly power sector operators’ meeting which was hosted

by Ibadan Disco at its Olorunsogo substation.

The meeting was supervised the Minister of Power, Works and Housing, Mr. Babatunde Fashola, and explained that the call for the debts verification were parts of attempts by the government to solve the sector’s lingering financial struggles.

“The meeting also noted the steps taken to address the liquidity issues (currently limiting the functioning of the sector), through the work currently underway to identify, verify and pay MDA debts to Discos, as well as gas debts and generation debts.

“It was noted that Abuja, Ikeja, Ibadan and Yola Disco have complied with data requirements, and verification of their submission is underway on a first come, first serve basis.

“A deadline of February 28, 2017, was issued to receive submissions on MDA debts from Discos and February 17, 2017, was set as a deadline for submission of audited and management accounts,” the communiqué stated.

While it is not clear if the government would extend the verification window upon the expiration of the current 15-day deadline given to the Discos, what is however certain is that it would not pay Discos’ debts it did not verify.

This therefore suggests that for as long as their claims are unverified by the government, payments would never come to them for electricity supplied to the MDAs in the past.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

24

BUSINESS/MEDIA

A Peep into Akpasubi’s Journalism Literatures Raheem Akingbolu, who witnessed the public presentation of two literary works — “Practical Guide to Public Affairs for Journalists’’ and the “Dictionary of Media Terms’’, written by Jackson Akpasubi, writes on the relevance of the books to today’s practice

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n what looked like a special gift to the industry that nurtured him, a veteran journalist, Jackson Isimeme Akpasubi, recently unveiled his new set of books -“Practical Guide to Public Affairs for Journalists’’ and the “Dictionary of Media Terms’’. Aside the relevance of the books to today’s practice, it is believed that the timing for their introduction is appropriate because a lot is currently being expected from the media in shaping the nation’s political atmosphere. The books were presented at the Nigerian Institute of International Affairs (NIIA) in Lagos.

The author of the book captures what “Practical guide to Public Affairs for journalists,” is out to achieve when he stated in the preface to the book that it is designed to help and guide a journalist questing for information on public issues, covering the vast array of public agencies and issues by enabling him or her learn how government organisations function, how to access documents and sources, and how to make sense of the complex and convoluted bureaucracy.

The ‘Practical Guide’ which is divided into 11 chapters, thus summarises all the necessary tools required from journalists, who want to successfully report public institutions. In clear language, Akpasubi takes journalists through the steps and approaches that can help journalists nuanced in the complexities and even convolutions that define government business.

The reviewer of the book, who is also the Editor-in-Chief of The Niche, Mr. Ikechukwu Amaechi, agreed with the author when he declared that, “Govern-

The reviewer was quick to quote Malcom Dean, former Guardian of London journalist for over 40 years, who said, “Fewer well-informed specialist journalists means fewer awkward questions asked in ministerial briefing,” With such reference, Amaechi aptly painted the essence of this book, which is to ensure that public affairs journalists understand not only the institutions of government but also the inner workings of those institutions and processes that lead to decision making and properly communicate such to their audience to enable them make informed decisions.

The book, which tries to task journalists on the need to look back and involve in investigative journalism, advised journalists, who cover ments all over the world play dominant roles in the lives of their citizens but there is always a communication gap between the two.

It is, therefore, the responsibility of the journalist not only to bridge that gap but also to hold the government accountable,”

war zones.

“Trained to be safe, never fight back or resist when confronted, undertake medical emergency training, don’t take sides in any conflict you cover, be as neutral as possible, ask the right questions, avoid becoming part of the war, be careful in

deciding what images to show and don’t let down your guard, the book admonishes. And since “no story is more valuable than your life,” the book insists that safety of reporters who cover crisis must always be paramount.

Perhaps to drive home his point, he dedicated the book to Dele Giwa, Krees Imodibe, Tayo Awotunsi, Bagauda Kalto, and “all the journalists murdered by enemies of truth in their line of duty.”

However, aside criticisms from various quarters that the ‘Dictionary of Media Terms’ focuses more on electronic media, Amaechi also faulted the author for poor editing in some instances.

This notwithstanding, veteran journalists and friends of Akpasubi, present at the event described him as an excellent reporter who has used his wealth of experience to write many books and contribute to body knowledge of journalism.

His editor at the defunct Concord Newspaper, Mr. Dele Alake, spoke glowingly about how he invited Akpasubi from The Guardian, when he (Alake), was desperate in restructuring the business pages of the then Sunday Concord.

Alake, a former Lagos State Commissioner for Information and Strategy, who recommended the books to journalists that want to excel in public affairs reporting, said investigative journalism would keep the nation and the government on their toes. He also pointed out that that area of journalism would ensure accountability and service delivery to the people.

Akpasubi, who had written about 10 books with the first in 1990, said he would stop at nothing to expand the frontiers of journalism.

Algorithm Media Enters Market with Robust Promise for Brands Raheem Akingbolu

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new media buying agency, Algorithm Media, has entered the market with promise to redefine the Marketing Communications space through adherence to core professional ethics as dictated by Nigeria Advertising code of practice and commitment to international best practice.

At the unveiling of the top-flight media specialist company in Lagos, its Chief Executive Officer, Seni Adetu, also officially announced its affiliation to Group M, a global media agency.

The company was unveiled at a media launch and panel discussion entitled “Connecting with the Nigerian Consumer in a Recession”. The event had a rich collection of senior business leaders, Chief Executive Officers and Marketing Directors of Blue Chip companies in attendance.

In his speech at the occasion, Adetu said “Algorithm Media, our company being formally introduced to you today, offers advertising media selection services that include media planning and buying. We are affiliated to Group M, the world’s largest media services company renowned for innovation, speed and excellence.

“Similar to all Group M affiliated agencies, Algorithm Media runs an independent operation in its own right. We, however, have the leverage and collaborate with Group M on activities that include content creation, digital advertising, finance, proprietary tool development and other business-critical capabilities”.

He added that as a globalised media specialist company, we aim to become the

“go to” media agency for creative media planning and buying. When the client needs reassurances of commercial benefits from their media spend and 110% governance assurance, we would ask they speak to us.

With Algorithm Media open for business in Nigeria, blue chips and global corporations can look forward to speed, innovation and excellence in brand building.”

The Chairman, Fidelity Bank Plc, Ernest Ebi, who was chairman of the panel discussion segment, said the topic of discussion was very relevant against the backdrop of the economic headwinds in the country that had drastically affected consumer behaviours.

He said the high inflationary pressure, dollar shortage, low fiscal activities and accumulation of salary arrears, among others, had taken a toll on the consumers.

“The issues are quite weighty and are bound to affect consumer behaviours in the country,” Ebi stated.

The President, Coca-Cola West Africa, Peter Njonjo, stressed the need for companies to invest more and launch affordable products during tough times, saying, “The company will come out stronger and earn greater loyalty from the consumers. There is a huge population in Nigeria that is spending a lot every day.

“About N390 billion is spent in the country every day. About 130 million Nigerians in the E and D socio-economic class spend N67 billion daily while the C socio-economic class spend N140 billion daily. The question is: how much of that are you going to access?”

The Chief Executive Officer, Jumia, Juliet Anammah, said in good times, brands can do without data but in a recession it is impossible to rely on intuitive data making it important to get deeper insight to know what the consumer is thinking. This

is because consumers would try to avoid impulse consumption in a recession, adding that spending would be mainly on fast-moving consumer goods and communication.

According to Anammah, elements that drive consumer behaviours include pricing, performance and the lifecycle of the product.

“People want help. You need an ecosystem that looks beyond the product,” she noted, stressing the need to connect with consumers.

In her submission, the Chief Executive Officer, Ebony Life TV, Mo Abudu, said, “I happen to think that the recession is actually good for Nigeria. It has made a lot of people to think about how to be creative, innovative and compete for business.

“It is about thinking outside the box and saying, ‘How can we reach the consumers?’

This is the time for creativity to shine through and let’s see who is going to survive the recession.”

A former Chief Executive Officer, MTN Nigeria, Michael Ikpoki, described the period of recession as an interesting time, “because you can see different kinds of behaviours that also throw up opportunities.”

Commending existing industry players as well as regulator for their resilience, Adetu said: “I think there has been a huge improvement in the quality of media services offered by the main media independent players in the last few years. I say that reflecting back on my 30 years working on the client’s side. I think we must thank MIPAN and APCON for the roles they have played in this regard.

“Today, we are seeing more and more agencies having the necessary tools to Adetu enable quality insights for media strategy and planning, we have better and sharper responses to clients’ briefs and we are tracking technology now, taking date coded pictures media placement much more effectively. of flighted campaign on the billboard has If you take the example of outdoor, with been made a lot easier.”

25

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ FEBRUARY 19, 2017

TRAVEL

Edited by Demola Ojo Email demola.ojo@thisdaylive.com

Dubai’s Surreal Global Village With replicas from every part of the world, the Global Village in Dubailand is a family destination with entertainment for adults and kids, cultural attractions and unique souvenirs, writes Demola Ojo

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he pictures alone are worth the visit. It looks too good to be true, because it’s too good to be true. Global Village Dubailand does not exist; for half the year.

Every year, it is constructed from scratch around November and dismantled the following April.

As an outdoor venue, the weather is unbearable in the intervening months.

Summers in Dubai are extremely hot and humid, with an average high around 41 °C. For the period when the Global Village materializes annually though, it is surreal, dreamlike, unbelievable. Especially at night, when it’s illuminated. It is a global village in size too, which is not a surprise considering it’s Dubai.

Global Village is touted to be the world’s largest tourism, leisure and entertainment project. It is the region’s first cultural, entertainment, family and shopping destination with around six million visitors annually.

Just like Dubai, Global Village came from humble beginnings starting out in the form of a number of kiosks in 1996 located on the Creek Side opposite to Dubai Municipality.

It moved to another location before finally settling for its present location in Dubailand.

Now it’s a world famous family entertainment and cultural attraction that offers a variety of dining options from different cuisines, along with thrill rides and children rides at the Fantasy Island.

A great place to visit with the family on a visit to Dubai, there are iconic images from around the world: replicas of the Eiffel Tower, Big Ben, Burj Khalifa and other famous structures. They do well as landmarks for individuals of a group to congregate after splitting up. Global Village is so massive, it is easy to get lost. But meeting up at a landmark like the Taj Mahal for example, which is visible from a distance helps a great deal.

Again because it is outdoors, opens at four in the evenings till midnight, or 1am on designated days. During this time, the activities include stunts (Jetskis and all), street performances, fireworks shows and cultural shows from around the world. A total of over 12,000 shows would have taken place by the time this season ends in April.

A lot of shopping also takes place, with some countries having up to 30 pavilions each. For the first time this season, there’s a Far East pavilion representing the countries of Japan, South Korea, Indonesia, and the Philippines. Also being represented for the first time is the Algeria pavilion, and the Eastern Europe pavilion representing Romania, Serbia, and the Ukraine.

Other participating pavilions include: UAE, Turkey, Jordan, Russia, The Americas, Pakistan, Italy, Lebanon, Palestine, Iran, Morocco, Thailand, Kuwait, Yemen, China, Spain, Afghanistan, Qatar, Bahrain, Germany, France, UK, Saudi Arabia, India, Egypt and Syria.

There’s an African stand with representation from different countries. Kenya is wellrepresented with a lot souvenirs for sale, Egypt especially prominent. No Nigerian stand though.

There are many amazing products available at Global Village. African black soap, shea butter and argan oil are just a few to consider.

In addition, there are many authentic oriental home decoration products you can get from Tunisia Pavilion and the Egyptian Pavilion.

There are also amazing honey varieties in the Yemen pavilion.

Other culturally rooted products include handicrafts and authentic products from different home countries. It’s a great place to buy souvenirs.

There are a few more attractions. The Haunted House is one of the most exciting features at Global Village. Basically you have to walk through a scary maze, covered with all sorts of gruesome objects that are meant to scare you.

An entrance into Global Village

Big Ben and Eiffel Tower replicas at Global Village There is also a Heritage Village with representations of what Bedouin life was like back in the day. You can see accurate details of how they camped, ate, and lived, while also being able to see some of the different animals they kept.

Apart from 19 restaurants that represent international cuisines providing guests with unique culinary experiences, there are also 120 themed food kiosks offering street food experience covering a large variety of cuisines, and providing guests with authentic flavours

and the ultimate street food experience.

With an amusement park known as Fantasy Land with a variety of different rides for kids, families and adults, it is no wonder Global Village attracts about a million visitors every month.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ ͹΁˜ ͺ͸͹Ϳ

26

NIGERIA’S TOP 50 STOCKS BASED ON MARKET FUNDAMENTALS

GlaxoSmithKline Plc: Substantial Foreign Exchange Loss Impacts Profitability

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SK recently released result for third quarter ended, September 2016 records notable decline in top-line earnings while profitability was negative.

GlaxoSmithKline Consumer Nigeria Plc (GSK) is an affiliate of GlaxoSmithKline worldwide commenced operation on the 1st July 1972, under the name Beecham Limited and was subsequently quoted on the Nigerian Stock Exchange (NSE) in 1977 and is currently one of the 30 most capitalised stocks on the exchange.

The Company has constantly advance innovations in products development and branding such as: the recently developed smaller pack sizes of inhaler devices for Asthma patientsVentolin Rotacaps. Ventolin Rotacaps uses a re-engineered version of the established GSK inhaler technology that is five times less expensive to produce. The new inhaler has been made available in four markets –The Philippines, Indonesia, Kenya and Nigeria.

DECLINE IN REVENUE AS HOUSEHOLD CONSUMPTION SHRINKS GSK has continued to face stiff competition from cheap imported healthcare and consumer goods from China and India besides local competition. This is in addition to reduction in sales witnessed in the North Eastern part of the country earlier in the year.

Third quarter 2016 financial results of GlaxoSmithKline Consumer Nigeria Plc recently released shows a 10.85% decline in revenue to N20.54 billion from N23.04 billion in September 2015. The decline in top-line earnings triggered by the cautionary spending by households due to the domestic economic headwinds prevalent in the country has unarguably resulted in reduced general consumption. Hence, the GSK consumer healthcare goods - which deals with oral care, over the counter (OTC) medicine and nutritional healthcare – and pharmaceuticals – which deals in antibacterial, vaccines and prescription drugs - records sharp drop in sales by 12.41% and 7.55% respectively.

Cost of sales also declined by 4.20% to N14.72 billion from N15.37 billion. Due to the lower decline in cost in comparison to revenue, gross profit weakened considerably by 24.18% to N5.82 billion from N7.67 billion recorded in the same period of 2015.

FOREIGN EXCHANGE LOSSES GREATLY ERODES PROFITABILITY Operating profit recorded a loss of N6.29 billion in September 2016,

WE HOLD STRONG OPINION THAT GLAXOSMITHKLINE CONSUMER NIGERIA PLC HAS AN OPPORTUNITY TO DELIVER HIGH LEVEL OF PRODUCT INNOVATIONS, OPERATIONAL EXCELLENCE AND CREATE AN OPPORTUNITY TO DEEPEN ITS MARKET WHICH WOULD SIGNIFICANTLY BOOST PERFORMANCE BEYOND CURRENT RESULTS. HOWEVER, THE COMPANY’S MANAGEMENT MUST REVIEW AND ACTION SOUND STRATEGIC PLAN TOWARDS IMPROVING REVENUE AND EFFECTIVELY MANAGE ITS EXPENSES TO POSITIVELY IMPACT FURTHER EARNINGS AND SHAREHOLDERS RETURN. indicating a substantial decline of 993.64% when compared with September 2015 figure of N704m.

Forming a huge part of operating income is recovery of accrued licence fee of N1.22 billion payable to Glaxo Group Limited which was considered unnecessary. GSK’s profitability is largely eroded by an unanticipated loss recorded in other gains and losses to the tune of N6.47 billion from N653m in September 2016. Other gains and losses declined extensively on the back of unrealised foreign exchange losses totalling N5.85 billion.

The Company’s total expenses figure revealed that administrative expenses, and selling and distribution expenses rose by 4.36% and 10.47% to N2.14 billion and N4.73 billion, from third quarter 2015 record of N2.05 billion and N4.29 billion respectively.

The rise in selling and distribution expenses was incurred due to increased promotional activities by the Company’s management in a bid to further deepen the GSK brand and increase its market share in the highly competitive market in which it operates.

DESPITE INCOME FROM BUSINESS DISPOSAL, PROFITABILITY REMAINS NEGATIVE Pre-tax loss stood at N6.29 billion indicating a decline of 997.09% from

N701m in the corresponding period 2015. The company boast of reduction finance costs to N0.31m for the third quarter ended, September 2016 from N2.68m in the preceding period of 2015 indicating a massive decline of 88.56%.

Net income was boosted by an unexpected income of N2.33 billion received from the disposal of its drink business through the sale of the Company’s two flagship brands; Lucozade and Ribena to Suntory Beverage & Food Nigeria Ltd. Nevertheless, a huge loss was still recorded as net income decline of 762.75% to N4.05 billion loss from N486m billion recorded in September 2015.

KEY FINANCIAL METRICS REFLECTS PERFORMANCE FIGURES Total assets rose by 22.25% to N38.30 billion as at third quarter ended, 30th September 2016 from N31.33 billion as at December 2015.

The growth was driven primarily by the substantial increase in cash and bank balances, trade and other receivables which grew by 543.06% and 19.95% respectively. Total liabilities also increased substantially by 62.65% to N29.51 billion from N18.14 billion as at third quarter ended, 30th September 2016. The growth in total liabilities was due to a massive rise of 71.36% in current liabities, despite a record loss of 7.16% in long-term liabilities.

Shareholders equity decreased on the back of retained earnings by a notable figure of 33.34% in the period under review to N8.79 billion from N13.19 billion recorded in December 2015.

Profitability ratio however dropped significantly. Return on average asset (ROAA) and return on average equity (ROAE) reflects bottom-line earnings as each stood at a negative 11.62% and 36.83% respectively as at third quarter ended, 30th September 2016.

GSK’s quick ratio currently stands at 1.13 compared to 0.58 and 0.62 in September 2015 and December 2015 respectively. Furthermore, price to sales (P/S) positions at 0.64 while price book value (P/BV) at 2.05.

WE PLACE A HOLD RECOMMENDATION The performance of GSK for third quarter of 2016 has not been impressive due to unprecedented foreign exchange losses, and reduction in both Company’s revenue and profitability. GSK still enjoys significant patronage across its product brands and Nigerian economy is an attractive market for consumable goods, largely supported by the growing population size of about 180.1 million people, which provides vast consumer demand.

We hold strong opinion that GlaxoSmithKline Consumer Nigeria Plc has an opportunity to deliver high level

Valuation Metrics 17-Feb-17 Recommendation

HOLD

Target Price (N)

12.55

Current Price (N)

14.75

Market Cap (N'm)

17.84

Outstanding Shares (m)

1,196

EPS (N)

-2.98

P/S

0.63x Source: BGL Research

Third Quarter Results - September 2016 Turnover (N'm)

20,540 6,288

Profit Before Tax (N'm) Profit After Tax (N'm)

4,046

Pre-tax Margin (%)

30.61 Source: BGL Research

Audited Full Year December 2015 Gross Earnings (N'm)

30,634 1,157

Profit Before Tax (N'm) Profit After Tax (N'm)

965

Pre-tax Margin (%)

3.78 Source: BGL Research

Shareholders

Holding (%)

Setfirst Limited

27.31%

SmithKline Beecham Ltd

19.11%

Stanbic Nominees Ltd

10.08%

Public Float

44.67% Source: Company Data, BGL Research

of product innovations, operational excellence and create an opportunity to deepen its market which would significantly boost performance beyond current results. However, the Company’s management must review and action sound strategic plan towards improving revenue and effectively manage its expenses to positively impact further earnings and shareholders return.

Considering the foregoing with respect to intense of and other macroeconomic factors, we have valued the GSK’s share using a combined valuation methods of book value, and adjusted price to sales (P/S) which resulted in a 6-month target price of N12.55 per share. Since this represents a downside potential of 14.91% on the current stock price, we place hold recommendation on the Company’s shares.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ ͹΁˜ ͺ͸͹Ϳ

27

NIGERIA’S TOP 50 STOCKS BASED ON MARKET FUNDAMENTALS

FCMB Group PLC: Outstanding Performance Despite Economic

F

ÓÜÝÞ ÓÞã ÙØß×ÏØÞ ËØÕ ÖÍ ̙ ̚ ÓØ ÓÞÝ ÜÏÚÙÜÞÏÎ ÞÒÓÜÎ ÛßËÜÞÏܘ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÓØËØÍÓËÖ ÜÏÝßÖÞ ÜÏÍÙÜÎÏÎ Ë ÑÜÙáÞÒ ÙÐ ͓͙˛͙͚ϯ ÓØ ÞÙÚ̋ÖÓØÏ ÏËÜØÓØÑÝ ÞÙ ͕͒͑˛͓͖ ÌÓÖÖÓÙØ ÐÜÙ× ͙͒͑˛͙͒ ÌÓÖÖÓÙØ ÓØ ÞÒÏ ÍÙÜÜÏÝÚÙØÎÓØÑ ÚÏÜÓÙÎ ÙÐ ͓͖͑͒˛ ÙáÏàÏܘ ÌÙÞÞÙ×̋ÖÓØÏ ÏËÜØÓØÑÝ ÜÙÝÏ ÝßÌÝÞËØÞÓËÖÖã ÙØ ÞÒÏ ÌËÍÕ ÙÐ ÍÙØÝÓÎÏÜËÌÖÏ ÓØÍÜÏËÝÏ ÓØ ÙÞÒÏÜ ÓØÍÙ×Ï˛ ÒÏ ËØÕ áÒÓÍÒ ÖÓÝÞÏÎ ÙØ ÞÒÏ ÓÑÏÜÓËØ ÞÙÍÕ âÍÒËØÑÏ ÓØ ͓͑​͕͑ ËØÎ ÓÝÝßÏÎ ÒÏÜ ÐÓÜÝÞ ÚßÌÖÓÍ ÙÐÐÏÜÓØÑ ̙ ̚ ÓØ ͓͑​͖͑ ØÙá ÒËÝ Ë ÜÏÍÙÜÎ ÙÐ ͓ ×ÓÖÖÓÙØ ÍßÝÞÙ×ÏÜ ÌËÝϘ ÙàÏÜ ͓͑͘ ÌÜËØÍÒÏÝ ÓØ ÓÑÏÜÓË ËØÎ Ë ÖÓÍÏØÝÏÎ ÌËØÕÓØÑ ÝßÌÝÓÎÓËÜã ÓØ ÞÒÏ ØÓÞÏÎ ÓØÑÎÙ× ̙ ̚˛ ÓÜÝÞ ÓÞã ÙØß×ÏØÞ ËØÕ Ó×ÓÞÏÎ ÒËÝ ÍÙØÞÓØßÏÎ ÓÞÝ ÝÞÜÓàÏ ÞÙáËÜÎÝ ÏØÒËØÍÏÎ ÍßÝÞÙ×ÏÜ ÏâÚÏÜÓÏØÍÏ ÞÒÜÙßÑÒ ÓØØÙàËÞÓÙØ ËÍÍÏÖÏÜËÞÓÙؘ ÏØÒËØÍÏ×ÏØÞ ÙÐ ÚÏÜÐÙÜ×ËØÍÏ ËØÎ ÝÏÍßÜÓÞã ÌÙÙÝÞÓØÑ˛ RISE IN TOP-LINE EARNINGS DESPITE TURBULENT BUSINESS TERRAIN ÜÙÝÝ ÏËÜØÓØÑÝ ÑÜÏá Ìã ͓͙˛͙͚ϯ ÞÙ ͕͒͑˛͓͖ ÌÓÖÖÓÙØ ÓØ ÞÒÏ ÞÒÓÜÎ ÛßËÜÞÏÜ ÙÐ ͓͑͒͗ ÐÜÙ× ͙͒͑˛͙͒ ÌÓÖÖÓÙØ ÜÏÚÙÜÞÏÎ ÓØ ÞÒÏ ÝË×Ï ÚÏÜÓÙÎ ͓͖͑͒˛ ÜÙÝÝ ÏËÜØÓØÑÝ ÑÜÙáÞÒ áËÝ Ó×ÚËÍÞÏÎ Ìã Ë ͒​͚͒˛͔͒ϯ ßÚÝßÜÑÏ ÓØ ØÙØ̋ÓØÞÏÜÏÝÞ ÓØÍÙ×Ï ÞÙ ͕͗˛͚͓ ÌÓÖÖÓÙØ ÐÜÙ× ͓͒˛͕͒ ÌÓÖÖÓÙØ ÜÏÍÙÜÎÏÎ ÙàÏÜ ÞÒÏ ÝË×Ï ÚÏÜÓÙÎ ÓØ ͓͖͑͒˛ ÒÏ ÓØÍÜÏËÝÏ áËÝ ×ËÓØÖã ÎÜÓàÏØ Ìã ËØ ÏâÞÜË̋ÙÜÎÓØËÜã ͓͗͒˛͒ϯ ÓØÍÜÏËÝÏ ÓØ ÐÙÜÏÓÑØ ÏâÍÒËØÑÏ ÓØÍÙ×Ï ÞÙ ͔͖˛͔͕ ÌÓÖÖÓÙØ ÐÜÙ× ͕˛͚͗ ÌÓÖÖÓÙØ ÎßÜÓØÑ ÞÒÏ ÚÏÜÓÙÎ ßØÎÏÜ ÜÏàÓÏá˛

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ØÞÏÜÏÝÞ ÏâÚÏØÝÏ ÐÙÜ ÞÒÏ ÚÏÜÓÙÎ ÑÜÏá Ìã ͔˛͖͑ϯ ÞÙ ͕͑˛͕͑ ÌÓÖÖÓÙØ ÐÜÙ× ͔͙˛͚͗ ÌÓÖÖÓÙØ ÜÏÚÙÜÞÏÎ ÓØ ÏÚÞÏ×ÌÏÜ ͓͖͑͒˛ ÏØÍÏ Ë ÜÏ×ËÜÕËÌÖÏ ͚˛͕͑ϯ ÜÓÝÏ ÓØ ØÏÞ ÓØÞÏÜÏÝÞ ÓØÍÙ×Ï ÞÙ ͖͔˛͓͚ ÌÓÖÖÓÙØ ÐÜÙ× ͕͙˛͒͘ ÌÓÖÖÓÙØ ÙàÏÜ ÞÒÏ ÚÏÜÓÙÎ ßØÎÏÜ ÜÏàÓÏᲠÏÏÝ ËØÎ ÍÙ××ÓÝÝÓÙØ ÓØÍÙ×Ï ÎÏÍÜÏËÝÏÎ Ìã ͖˛͖͚ϯ ÞÙ ͔͒˛͔͘ ÌÓÖÖÓÙØ ÐÜÙ× ͕͒˛͒͘ ÌÓÖÖÓÙØ ÎßÜÓØÑ ÞÒÏ ÚÏÜÓÙÎ ßØÎÏÜ ÜÏàÓÏᘠáÒÓÖÏ ÐÏÏÝ ËØÎ ÍÙ××ÓÝÝÓÙØ ÏâÚÏØÝÏ ÓØÍÜÏËÝÏÎ ÝÓÑØÓÐÓÍËØÞÖã Ìã ͙͒˛͖͘ϯ ÞÙ ͓˛͚͗ ÌÓÖÖÓÙØ ÐÜÙ× ͓˛͓͘ ÌÓÖÖÓÙØ ÙàÏÜ ÞÒÏ ÝË×Ï ÚÏÜÓÙβ ÙáÏàÏܘ ÎßÏ Ë ÎÏÍÖÓØÏ ÓØ ÐÏÏÝ ËØÎ ÍÙ××ÓÝÝÓÙØ ÓØÍÙ×Ï ËØÎ Ë ÜÓÝÏ Ë ÐÏÏÝ ËØÎ ÍÙ××ÓÝÝÓÙØ ÏâÚÏØÝϘ ØÏÞ ÐÏÏ ËØÎ ÍÙ××ÓÝÝÓÙØ ÓØÍÙ×Ï ÎÏÍÜÏËÝÏÎ ÞÙ ͒͑˛͙͗ ÌÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÜÙ× ͒​͒˛͙͚ ÌÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͖͑͒˞ ÜÏÐÖÏÍÞÓØÑ Ë ÍÒËØÑÏ ÙÐ ͒͑˛͓͑ϯ˛ SIGNIFICANT CHANGES IN TOTAL OPERATING INCOME AND TAXATION IMPACTS PROFITABILITY ÙÞËÖ ÙÚÏÜËÞÓØÑ ÏâÚÏØÝÏÝ ÓØÍÜÏËÝÏÎ Ìã ͓͘˛͕​͕ϯ ÞÙ ͙͔˛͙͓ ÌÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÜÙ× ͖͗˛͙͘ ÌÓÖÖÓÙØ

BASED UPON THE BANK’S FLEXIBILITY TO THE CURRENT REGULATORY POLICIES AND THE MACROECONOMIC HEADWIND, WE BELIEVE THAT THE BANK’S MANAGEMENT IS EXECUTING ADJUSTMENT PLANS THAT FOCUS ITS EFFORT TOWARDS AN EFFICIENT PERFORMANCE WHICH STRENGTHENS EARNINGS, INCOME GENERATION CAPACITY AND GROWTH IN LIQUIDITY BASE

ÓØ ÏÚÞÏ×ÌÏÜ ͓͖͑͒ ÚÜÓ×ËÜÓÖã ÎßÏ ÞÙ Ë ×ËÝÝÓàÏ ÑÜÙáÞÒ ÙÐ ͓͖͒˛͖͗ϯ ÓØ ØÏÞ Ó×ÚËÓÜ×ÏØÞ ÖÙÝÝ ÙØ ÐÓØËØÍÓËÖ ËÝÝÏÞÝ ÞÙ ͔͕˛͕͚ ÌÓÖÖÓÙØ ÐÜÙ× ͖͒˛͓͚ ÌÓÖÖÓÙØ ÜÏÍÙÜÎÏÎ ÓØ ÏÚÞÏ×ÌÏÜ ͓͖͑͒˛ ÒÏÜÏÐÙÜϘ ÚÜÏ̋ÞËâ ÚÜÙÐÓÞ ÐÙÜ ÞÒÏ ÚÏÜÓÙÎ ÑÜÏá Ìã Ë ÝßÌÝÞËØÞÓËÖ ͕͖͔˛͑͗ϯ ÞÙ ͕͒˛͙͒ ÌÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÜÙ× ͓˛͖͗ ÌÓÖÖÓÙØ ÜÏÍÙÜÎÏÎ ÓØ ÞÒÏ ÞÒÓÜÎ ÛßËÜÞÏÜ ÙÐ ͓͖͑͒ ËÞÞÜÓÌßÞËÌÖÏ ÞÙ Ë ×ËÝÝÓàÏ ͔͓͗˛͚͒ϯ ÓØÍÜÏËÝÏ ÓØ ÙÞÒÏÜ ÓØÍÙ×Ï ÞÙ ͔​͔˛͖​͖ ÌÓÖÖÓÙØ ÜÏÍÙÜÎÏÎ ÓØ ÞÒÏ ÞÒÓÜÎ ÛßËÜÞÏÜ ÙÐ ͓͑͒͗ ÐÜÙ× ͘˛͓͖ ÌÓÖÖÓÙØ ÓØ ÞÒÏ ÍÙÜÜÏÝÚÙØÎÓØÑ ÚÏÜÓÙÎ ÙÐ ͓͖͑͒˛ âÚÏÍÞÏÎÖ㘠ÚÜÙÐÓÞ ËÐÞÏÜ ÞËâ ÐÙÖÖÙáÏÎ ÝßÓÞ áÓÞÒ Ë ×ËÝÝÓàÏ ͖͚͖˛͙͒ϯ ÓØÍÜÏ×ÏØÞ ÞÙ ͓͒˛͚͙ ÌÓÖÖÓÙØ ÓØ ÞÒÓÜÎ ÛßËÜÞÏÜ ÙÐ ͓͑͒͗ ÐÜÙ× ͒˛͙͘ ÌÓÖÖÓÙØ ÜÏÚÙÜÞÏÎ ÓØ ÞÒÏ ØÓØÏ̋×ÙØÞÒ ÚÏÜÓÙÎ ÙÐ ͓͖͑͒˛ ÒÏ ËØÕ˪Ý Ó×ÚÜÏÝÝÓàÏ ÚÏÜÐÙÜ×ËØÍÏ ×Ëã ÌÏ ÍÙØØÏÍÞÏÎ ÞÙ ÞÒÏ ×ËÝÝÓàÏ ÎÏÍÖÓØÏ ÓØ ÞÙÞËÖ ÓØÍÙ×Ï ÞËâ ÏâÚÏØÝÏ Ìã ͓͙͓˛͕͙ϯ ÞÙ Ë STRONG ASSET QUALITY ÒÏ ËØÕ˪Ý ÌËÖËØÍÏ ÝÒÏÏÞ ÜÏÐÖÏÍÞÝ ÝÞÏËÎã ÚÜÙÑÜÏÝÝ ÓØ ÞÒÏ ÌËØÕ˪Ý ÚÏÜÐÙÜ×ËØÍÏ ÙàÏÜ ÞÒÏ ÚÏÜÓÙβ ÒÏ ÜÙßÚ˪Ý ÞÙÞËÖ ËÝÝÏÞ ÑÜÏá Ìã ͘˛͑͗ϯ ÞÙ ͒˛͓͕ ÞÜÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÜÙ× ͒˛͒͗ ÞÜÓÖÖÓÙØ ÐÜÙ× ÏÍÏ×ÌÏÜ ͓͖͑͒˛ ÒÏ

ÑÜÙáÞÒ ÓØ ÞÙÞËÖ ËÝÝÏÞÝ ÓÝ ËÞÞÜÓÌßÞËÌÖÏ ÞÙ ÞÒÏ ÐÙÖÖÙáÓØÑ˝ Ë ×ËÝÝÓàÏ ÜÓÝÏ ÙÐ ͕͔͚˛͓͘ϯ ÓØ ØÙØ̋ÚÖÏÎÑÏÎ ÞÜËÎÓØÑ ËÝÝÏÞÝ ÞÙ ͒͑˛͖͘ ÌÓÖÖÓÙØ ÐÜÙ× ͒˛͚​͚ ÌÓÖÖÓÙؘ Ë ÜÓÝÏ ÙÐ ͙͒˛͔͒ϯ ÓØ ÓØàÏÝÞ×ÏØÞ ÝÏÍßÜÓÞÓÏÝ ÞÙ ͒͗͑˛͚͑ ÌÓÖÖÓÙØ ÐÜÙ× ͔͖͒˛͔͒ ÌÓÖÖÓÙØ ËØÎ Ë ͓​͓˛͕͑ϯ ÓØÍÜÏËÝÏ ÓØ ÙÞÒÏÜ ËÝÝÏÞÝ ÞÙ ͓͗˛͕͚ ÌÓÖÖÓÙØ ÐÜÙ× ͓͒˛͑͘ ÌÓÖÖÓÙØ ÎßÜÓØÑ ÞÒÏ ÚÏÜÓÙÎ ßØÎÏÜ ÜÏàÓÏá˛ Ø ÞÒÏ ÙÞÒÏÜ ÒËØΘ ÞÙÞËÖ ÖÓËÌÓÖÓÞÓÏÝ ÜÙÝÏ Ìã ͗˛͚͗ϯ ÞÙ ͒˛͑͗ ÞÜÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÜÙ× ͚​͚͘˛͕͒ ÌÓÖÖÓÙØ ÓØ ÏÍÏ×ÌÏÜ ͓͖͑͒˛ ÒÏ ÜÓÝÏ ÓØ ÞÙÞËÖ ÖÓËÌÓÖÓÞÓÏÝ ÓÝ ÖËÜÑÏÖã ËÞÞÜÓÌßÞËÌÖÏ ÞÙ Ë ×ËÝÝÓàÏ ÜÓÝÏ ÙÐ ͘​͑͘˛͚͑ϯ ÓØ ÌËØÕ ÎÏÚÙÝÓÞÝ ÞÙ ͕͘˛͖͓ ÌÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ ÐÜÙ× ͖˛͕͗ ÌÓÖÖÓÙØ ÓØ ÏÍÏ×ÌÏÜ ͓͖͑͒˞ ÌÙÜÜÙáÓØÑÝ ËÖÝÙ ÑÜÏá Ìã ͖͑˛͖͑ϯ ÞÙ ͒͑͘˛͗͒ ÌÓÖÖÓÙØ ÐÜÙ× ͒​͔͒˛͑͘ ÌÓÖÖÓÙØ ÙàÏÜ ÞÒÏ ÝË×Ï ÚÏÜÓÙβ ÙáÏàÏܘ ÝÒËÜÏÒÙÖÎÏÜ˪Ý ÏÛßÓÞã ÓØÍÜÏËÝÏÎ Ìã ͘˛͚͗ϯ ÞÙ ͕͒͘˛͙​͙ ÌÓÖÖÓÙØ ÓØ ÏÚÞÏ×ÌÏÜ͓͑͒͗ ÐÜÙ× ͓͒͗˛͔͚ ÌÓÖÖÓÙØ ÓØ ÏÍÏ×ÌÏÜ ͓͖͑͒ ÎßÏ ÞÙ ÑÜÙáÞÒ ÙÐ ͚͖˛͖͚ϯ ÓØ ÜÏÞËÓØÏÎ ÏËÜØÓØÑݲ CAPITAL AND LIQUIDITY RATIOS STILL ABOVE REGULATORY REQUIREMENTS ˪Ý ÖÓÛßÓÎÓÞã ÜËÞÓÙ ÝÞÙÙÎ ËÞ ͔͗˛͙ϯ ËÝ ËÞ ÏÚÞÏ×ÌÏÜ ͔͑ÞÒ˜ ͓͑͒͗ áÒÓÍÒ ÓÝ áÏÖÖ ËÌÙàÏ ÞÒÏ ×ÓØÓ×ß× ÜÏÑßÖËÞÙÜã ÜÏÛßÓÜÏ×ÏØÞ ÙÐ ͔͑ϯ áÒÓÖÏ ÍËÚÓÞËÖ ËÎÏÛßËÍã ÜËÞÓÙ ÝÞÙÙÎ ËÞ ͒͘˛͗ϯ áÒÓÍÒ ËÖÝÙ ÜÏ×ËÓØÏÎ áÏÖÖ ËÌÙàÏ ÞÒÏ ×ÓØÓ×ß× ÝÞËÞßÞÙÜã ÜÏÛßÓÜÏ×ÏØÞ ÙÐ ͒͑ϯ ÐÙÜ ØÙØ̋ ÝãÝÞÏ×ËÞÓÍËÖÖã Ó×ÚÙÜÞËØÞ ÌËØÕÝ áÒÏÜÏ ÌÏÖÙØÑÝ ÞÙ˛ ÒÏ ÜÙßÚ˪Ý ÏÞßÜØ ÙØ àÏÜËÑÏ ÛßÓÞã ̙ ̚ ÝÞÙÙÎ ËÞ ͒͑˛͕ϯ ËÝ ËÞ ÏÚÞÏ×ÌÏÜ ͓͑͒͗ áÒÓÖÏ ÏÞßÜØ ÙØ àÏÜËÑÏ ÝÝÏÞÝ ̙ ̚ ÝÞÙÙÎ ËÞ ͒˛͕ϯ ÙàÏÜ ÞÒÏ ÝË×Ï ÚÏÜÓÙβ ÒÏ ÜÙßÚ˪Ý ÍÙÝÞ̋ÞÙ̋ÓØÍÙ×Ï ÜËÞÓÙ ÎÏÍÖÓØÏÎ ÞÙ ͖͑˛͔ϯ ÍÙ×ÚËÜÏÎ ÞÙ ͔͘˛͚ϯ ÜÏÍÙÜÎÏÎ ÓØ ÞÒÏ ÞÒÓÜÎ ÛßËÜÞÏÜ ÙÐ ͓͑͒͗˛ ÏÞ ÓØÞÏÜÏÝÞ ×ËÜÑÓØ ̙ ̚ ÑÜÏá ×ËÜÑÓØËÖÖã ÞÙ ͙˛͕ϯ ÓØ ÏÚÞÏ×ÌÏÜ͓͑͒͗ ÐÜÙ× ͙˛͔ϯ ÓØ ÏÚÞÏ×ÌÏÜ ͓͖͑͒ áÒÓÖÏ ÚÜÏ̋ ÞËâ ÚÜÙÐÓÞ ×ËÜÑÓØ ËØÎ ØÏÞ ÓØÍÙ×Ï ×ËÜÑÓØ ØÙÞËÌÖã ÞÙ ͒͑˛͒​͒ϯ ÐÜÙ× ͓˛͔͗ϯ ËØÎ ÞÙ ͚˛͓͗ϯ ÐÜÙ× ͒˛͒͘ϯ ÜÏÝÚÏÍÞÓàÏÖã˛

WE RECOMMEND A BUY ÒÏ ×ËÍÜÙ̋ÏÍÙØÙ×ÓÍ ÒÏËÎáÓØÎÝ ÙÐ ͓͑͒͗ ÝËá ÓØÐÖËÞÓÙØ ÜÓÝÏ ÞÙ ͙͒˛͕͙ϯ˜ ËÞ ͕͒ϯ ËØÎ ×ËÓØÞËÓØÝ ÙÐ ÙØ ËÖÖ ÚßÌÖÓÍ ÝÏÍÞÙÜ ÎÏÚÙÝÓÞÝ ÞÙ ͓​͓˛͖͑ϯ ÓØ ÙàÏ×ÌÏÜ ͓͑͒͗˛ ÏàÏÜÞÒÏÖÏÝݘ ÎÏÖÓàÏÜÏÎ ËØ Ó×ÚÜÏÝÝÓàÏ ÚÏÜÐÙÜ×ËØÍÏ ÎÏÝÚÓÞÏ ÒËÜÝÒ ÌßÝÓØÏÝÝ ÏØàÓÜÙØ×ÏØÞ ËØÎ ßØÝÞËÌÖÏ ×ÙØÏÞËÜã ÚÙÖÓÍÓÏݲ ËÝÏÎ ßÚÙØ ÞÒÏ ËØÕ˪Ý ÐÖÏâÓÌÓÖÓÞã ÞÙ ÞÒÏ ÍßÜÜÏØÞ ÜÏÑßÖËÞÙÜã ÚÙÖÓÍÓÏÝ ËØÎ ÞÒÏ ×ËÍÜÙ̋ÏÍÙØÙ×ÓÍ ÒÏËÎáÓØΘ áÏ ÌÏÖÓÏàÏ ÞÒËÞ ÞÒÏ ËØÕ˪Ý ×ËØËÑÏ×ÏØÞ ÓÝ ÏâÏÍßÞÓØÑ ËÎÔßÝÞ×ÏØÞ ÚÖËØÝ ÞÒËÞ ÐÙÍßÝ ÓÞÝ ÏÐÐÙÜÞ ÞÙáËÜÎÝ ËØ ÏÐÐÓÍÓÏØÞ ÚÏÜÐÙÜ×ËØÍÏ áÒÓÍÒ ÝÞÜÏØÑÞÒÏØÝ ÏËÜØÓØÑݘ ÓØÍÙ×Ï ÑÏØÏÜËÞÓÙØ ÍËÚËÍÓÞã ËØÎ ÑÜÙáÞÒ ÓØ ÖÓÛßÓÎÓÞã ÌËÝÏ˛ ßÜÞÒÏÜ×ÙÜϘ ÓØ ÖÓØÏ áÓÞÒ ÓÞÝ ÙØ̋ÑÙÓØÑ ÞËÜÑÏÞ ÞÙ ÞÜËØÝÖËÞÏ ÐÙÜÏÓÑØ ÏâÍÒËØÑÏ ÎÓÐÐÏÜÏØÞÓËÖÝ ÞÙ ÌÏËÜ ÚÙÝÓÞÓàÏÖã ÙØ ÞÒÏ

Valuation Metrics 14-Aug-14 Recommendation

Target Price (N)

Ͱ˛ͯͳ

Current Price (N)

ͯ˛ͱͮ

Market Cap (N'm)

ͰͰ˜ͯ͵ͷ

Outstanding Shares (m)

ͯͷ˜Ͷͮͱ

Rolling EPS (N)

ͮ˛ʹͯ

Rolling PE Ratio

Ͱ˛ͯͰâ

Forward EPS (N)

0.81 1.37x

Forward PE

Unaudited Q3 September 2016 Results Gross Earnings (N'm)

ͯͲͮ˜ͰͲͶ

Profit Before Tax (N'm)

14,175

Profit After Tax (N'm)

ͯͰ˜ͷͶͯ

Pre-tax Margin (%)

10.11 Source: BGL Research

FYE December 2013 Audited Results Gross Earnings (N'm) Profit Before Tax (N'm) Profit After Tax (N'm) Pre-tax Margin (%)

ͯͳͰ˜ͳͮ͵ 7,768 Ͳ˜͵ʹͮ ͳ˛ͮͷ Source: BGL Research

Shareholders

Holding (%)

Capital IRG Trustees Ltd

͵˛Ͷ͵

Stanbic Nominees Ltd

28.80

AMCON Public Float

ʹ˛͵ͱ ͳʹ˛ʹͮ Source: Annual Report 2015, BGL Research

ËØÕ˪Ý ÌßÝÓØÏÝݘ ×ËÓØÞËÓØÓØÑ ÓÞÝ ÍßÜÜÏØÞ ÖÏàÏÖ ÙÐ

ËØÎ ÎÏÝÚÓÞÏ Ë ÍÒËÖÖÏØÑÓØÑ ×ËÍÜÙ̋ÏÍÙØÙ×ÓÍ ÏØàÓÜÙØ×ÏØÞ ÞÒËÞ ÓÝ ÏËÝÓØÑ ßÚ ËÝ áÏÖÖ ËÝ Ë ÑÙÙÎ ÜÏÍÙÜÎ ÙÐ ÏâÚÏØÝÏÝ ×ËØËÑÏ×ÏØÞ˛ ËÝÏÎ ÙØ ÞÒÏ ÍÙ×ÚËØã˪Ý ÚÏÜÐÙÜ×ËØÍϘ ÙßÜ àËÖßËÞÓÙØ ÖÏËÎÝ ÞÙ Ë ÐÙÜáËÜÎ ÙÐ ͑˛͙͒˜ ËØÎ Ë ͗̋×ÙØÞÒ ËàÏÜËÑÏ ÞËÜÑÏÞ ÚÜÓÍÏ ÙÐ ͓˛͖͒˛ ÓØÍÏ ÞÒÓÝ ÜÏÚÜÏÝÏØÞÝ ËØ ßÚÝÓÎÏ ÚÙÞÏØÞÓËÖ ÙÐ ͖͗˛͔͙ϯ ÙØ ÞÒÏ ÍßÜÜÏØÞ ÝÞÙÍÕ ÚÜÓÍÏ ÙÐ ͒˛͔͑˜ áÏ ÞÒÏÜÏÐÙÜÏ ÜÏÍÙ××ÏØÎ Ë ˛

28

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ ͹΁˜ ͺ͸͹Ϳ

MARKET NEWS

FMDQ OTC Admits Sterling Bank CP, FCMB SPV Plc Bond Goddy Egene The FMDQ OTC Securities Exchange has admitted the quotation of the Sterling Bank Plc N2.40 billion Series 1-3 Commercial Paper (CP) Notes, under its N100 billion CP Programme and the listing of the FCMB Financing SPV Plc N5.10 billion 7-year 17.25 per cent Series 3 Fixed Rate Unsecured Bond under its N100 billion Debt Issuance Programme, on its platform.

According to the exchange, the admittance of these securities,

following due approval from the FMDQ Board Listings, Markets and Technology Committee, attests to the highly efficient time to market and uniquely tailored listings and quotations service offered by FMDQ. It said in the coming weeks, respective ceremonies will be held in honour of the issuers, Sterling Bank Plc and FCMB SPV Plc to commemorate these achievements.

FMDQ explained that from the continuous provision of invaluable information, to global visibility, improved secondary market liquidity, efficient price formation

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

and unique transparency, the activities and value-adding services of the OTC exchange continue to be experienced by businesses, corporate and government entities with debt securities listed/quoted on it.

“As part of FMDQ’s commitment to organise, govern and enforce credibility and transparency in the debt capital market space, the OTC Exchange has, through its innovative practices and the concerted efforts of its stakeholders, positively influenced the competitiveness of the Nigerian financial markets. FMDQ shall

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 16-Feb-2017, unless otherwise stated.

continue to validate its operational mandate of aligning the markets within its purview to international standards, striving to ensure they emerge as globally competitive, operationally excellent, liquid and diverse. Through the continued support for institutional growth, the OTC Exchange shall invariably contribute its quota to rejuvenating the vibrancy of the Nigerian economy,” the exchange said.

The exchange last week said it was set to admit the pioneer listing of the $1.00 billion Federal Government of Nigeria (FGN)

Eurobond on its platform. The FGN, on February 9, 2017, announced the pricing of its offering of $1.00 billion Notes (Eurobond) under its $1.00bn Global Medium-Term Note Programme.

The issuance of the $1.00 billion FGN Eurobond is aimed at fostering economic development and will serve to rejuvenate the vibrancy of the nation’s foreign exchange (FX) market.

Remarkably so, this is the firsttime the sovereign’s Eurobond will be considered for listing on a

domestic exchange, following the nation’s first and second outings to the international capital markets in 2011 and 2013 respectively.

According to FMDQ, this most commendable consideration follows the decision of the Debt Management Office (DMO), Nigeria, (the authority under which the FGN issues Bonds and Treasury Bills) and the Ministry of Finance to list the Eurobond on an efficient domestic securities exchange such as FMDQ to deepen and support the development of the local DCM.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 126.08 126.32 -0.83% Nigeria International Debt Fund 216.75 217.11 0.62% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.69 0.70 -1.63% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 17.73% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 11.96 12.32 -3.11% ARM Discovery Fund 282.58 291.10 -1.60% ARM Ethical Fund 21.81 22.46 -2.39% ARM Money Market Fund 1.00 1.00 17.43% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 106.67 107.42 1.51% AXA Mansard Money Market Fund 1.00 1.00 16.82% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Nigeria Global Investment Fund 2.18 2.23 0.23% Paramount Equity Fund 9.46 9.70 1.05% Women's Investment Fund 86.25 88.46 1.95% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 17.27% FBN CAPITAL ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,112.90 1,113.96 2.06% FBN Heritage Fund 108.79 109.50 -2.51% FBN Money Market Fund 100.00 100.00 15.79% FBN Nigeria Eurobond (USD) Fund - Institutional $105.76 $106.63 1.73% FBN Nigeria Eurobond (USD) Fund - Retail $105.50 $106.27 2.13% FBN Nigeria Smart Beta Equity Fund 111.17 112.72 -1.29% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 0.93 0.95 0.00% Legacy Short Maturity (NGN) Fund 2.62 2.62 1.78% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,159.55 2,184.50 -2.26% Coral Income Fund 2,154.28 2,154.28 2.38% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 17.37% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 16.50% Vantage Balanced Fund 1.68 1.69 -0.22% Vantage Guaranteed Income Fund 1.00 1.00 15.41%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 0.99 1.01 0.33% Lotus Halal Fixed Income Fund 1,015.93 1,015.93 1.31% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.59 9.67 -0.77% Meristem Money Market Fund 10.00 10.00 14.70% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.06 1.08 1.09% PACAM Fixed Income Fund 10.41 10.44 0.02% PACAM Money Market Fund 10.00 10.00 15.10% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 111.00 111.72 8.93% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.26 1.26 1.05% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 1,805.51 1,815.08 -1.42% Stanbic IBTC Bond Fund 152.78 152.78 -0.77% Stanbic IBTC Ethical Fund 0.75 0.76 -1.95% Stanbic IBTC Guaranteed Investment Fund 189.34 189.34 1.31% Stanbic IBTC Iman Fund 127.16 128.77 -2.07% Stanbic IBTC Money Market Fund 100.00 100.00 17.66% Stanbic IBTC Nigerian Equity Fund 7,165.65 7,251.46 -5.49% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.13 1.15 9.04% United Capital Bond Fund 1.25 1.25 16.11% United Capital Equity Fund 0.65 0.66 0.14% United Capital Money Market Fund 1.00 1.00 13.00% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 9.56 9.73 -0.62% Zenith Ethical Fund 11.09 11.19 1.66% Zenith Income Fund 17.06 17.06 3.26%

REITS NAV Per Share

Yield / T-Rtn

11.41 124.56

1.01% 0.48%

Bid Price

Offer Price

Yield / T-Rtn

7.84 69.55

7.94 70.86

-10.65% -8.22%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.36 4.74 11.21 14.10 138.14

2.40 4.82 11.31 14.30 140.14

-13.93% -32.39% -6.48% -11.53% 6.31%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

A

WEEKLY PULL-OUT

19.02.2017

SEUN OLOTA

THE SAXOPHONIST AT FREEDOM PARK

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T H I S DAY, T H E S U N DAY N E W S PA P E R ˾ ͯͷ, Ͱͮͯ͵

COVER

SEUN OLOTA

THE SAXOPHONIST AT FREEDOM PARK As live performance finds a thriving hub for the expression of conscious and alternative music at the Freedom Park in Lagos, Wednesdays attract a peculiar gathering drawn by the antics of a skilled saxophonist and songwriter, Seun Olota. Nseobong Okon-Ekong writes

W

ith each change of name, the band assumed a new direction in the sound of its music.

Today, Oluwaseun Ayomide Olota or Seun Olota to his friends and acquaintances has woven several layers of music from different cultures that he has interfaced with into a distinct sound which he would rather not put a label on. This liberty, however, does not discourage the teeming number of enthusiasts who enjoy his regular show Wednesdays at Freedom Pak in Lagos.

The ExTasI Band which he leads was not always known by the name. In the late 1990s when he started out, it was known as Janvier Band. It transmuted to the Dotcom Band at the turn of the new millennium in 2001. With Janvier, it was strictly African Jazz. His original compositions started with Dotcom.

The last few years brought seasons of excellence for Seun. With a sizeable number of band members working with him for over 10 years, his sound reached a level of maturity that is not easy to ignore.

Every music pundit agrees Seun Olota and the ExTasI Band have been able to forge a stage craft they can be proud of.

That Wednesday night at Freedom Park, at his weekly gig called the Free Spot Show, beautiful sounds floated from his saxophone. It mixed beautifully with reverberations from instruments played by other members of the band in a sweet and soothing harmony. As the leader and singer in the band, he was often in the front, but team spirit and; perhaps, showmanship took him all over the stage.

He could be with the other horns men to back an instrumentalist who had moved from his place to the front to take a solo spot. At other times, he ran back like a concerned striker in a football team, eager to halt an invasion from the opposing team, to play a percussive instrument. He was everywhere, even jumping into the crowd to encourage a familiar face or to urge greater participation from an already inspired and excited audience. The show has become a hub for the expression of conscious and alternative music.

The performance may as well be called ‘Seun Olota and Friends’ for its free flowing nature. Often packing a lot of surprises with appearance of guest artistes - the regular suspect being another ubiquitous persona at Freedom Park, Edaoto - a member of the band may also take the spotlight for sometime as Seun retreats to the back row. At the Free Spot Show, an audience member could be catapulted to the star attraction for the night, if he is courageous to take the microphone and go on stage. On this particular night, the revelation was guitarist and songwriter, Ubong Edem Ukor who is known to the inner circle of the music industry in Nigeria as the man who produced, Zule-Zoo’s first album. He grabbed everyone’s attention with his rendition of Bobby McFerrin’s hit, ‘Don’t Worry Be Happy’. Playing on the guitar and giving the song his own unique arrangement, Ubong got more than a passing notice before launching into his self-penned songs some of which

FEBRUARY 19, 2017 ˾ T H I S DAY, T H E S U N DAY N E W S PA P E R

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COVER eulogized his home state, Akwa Ibom.

From years of playing together, the 10 consistent members of ExTasI Band have become so closely knit; so much that even if a member should be absent, his place would be taken by another and the dexterity of his colleagues would cover the lapse. On the night of our visit, the regular drummer was not on duty, but if Seun had not disclosed this, we wouldn’t know. To the audience, it was a smooth performance.

With this set of musicians, Seun has recorded three body of works at different times. The first album ‘Home Made’ was released in 2006. His second album, ‘Home Brew’ went public in 2013. Two years after in 2015, he recorded ‘Free Spot Show-Live’.

The direction of Seun’s music is the result of a combination of his exposure, pedigree and background. What has emerged as Seun’s unique sound gives credence to his parents, particularly his father, a medical doctor who used to play the piano in church, a brother, “as well as the result of rubbing minds with like minds.”

A highly opinionated individual, the saxophonist and songwriter was introduced to the benefits of reading widely, early in life. Therefore, his character has become formed from engaging with many great people, even if vicariously through their works. One of the issues he feels strongly about in show business is objectifying women.

While he has a couple of women, who play different roles in his band, they are not there to excite or to create sexual fantasy. “I am not just in the music industry for the showmanship. This is very serious business. I do not subscribe to derogatory representation of women. I am an advocate of dignity of womanhood.

Why should the men be fully and decently dressed, while women are left in something as little as a scarf which barely covers the sensitive zone of their bodies?

That is not right! I don’t want anybody to tell me that my daughter is less intelligent than my son. When we think in that line, some men may start to start to restructure their mind.”

For Seun, music is a means to an end.

His father wanted him to take after him as a medical doctor. And he was well on his way, studying the sciences until he bowed to the compelling desire to operate in the arts and culture sphere. He began his studies at the University of Lagos, gunning for a certificate in Creative Arts.

He would later earn a BA in Creative Arts and a MSc in Mass Communications from the same university. An attempt to study Music for one year at the Obafemi Awolowo University at Ile Ife did not quite end well as he couldn’t pursue the course to a logical conclusion. Nonetheless, he is thankful for what he could learn during the sojourn at Ife where he found the haven for tranquility and the academic environment he always wanted. “At Ife, I discovered everything my father always encouraged me to do - read a lot of literature Bible, about the Nigerian civil war, books on Egypt and lots more.

My course of study would have been an issue with my father. He had no problem as long as the music was restricted to the church (like he did, playing piano in church). But over time, he discovered that the people who came looking for me were all respected. I was earning money

and I never got into trouble. So, they left me alone. I have led a band since I was in primary school. From home, my father exposed me to the basic theory of classical music. When I finished secondary school my brother brought me into a studio and showed me something on the piano. I continued with the classical for a brief period at the MUSON School of Music. It was quite expensive at that time, between 1994 and 1995. I became a street musician. I went to Mount Camel College in Ilorin, Kwara State because my father wanted me to go out of Lagos. It was a bit of punishment too. I have certificates in Copyright Law and Business Administration. I want to be an intellectual. I have discovered that all disciplines are related.”

He is involved in advocacy and sensitization initiatives which include surrogate schemes, campaign projects, and awareness programs for and with agencies on breast-feeding, immunization, downsyndrome, marital issues, polity, and gender related issues. Our conversation had started on a somewhat weird note, with Seun insisting that we may not all be

indigenes of the places we lay claims to, all in an attempt why he would not like his music or himself to be boxed into a corner.

“I just want to play whatever that comes to my mind. I am exposed to other world cultures.

Cultures are similar. You may be in Brazil and hear sounds that transport you to Isale Eko. Do you wonder why northerners in Nigeria are in love with Indian music? We have all migrated from one place or another. I am from Kwara State. I am a student of history. Through my journey in music, I have been exposed to different world cultures. You do not have one type of music that you can call African music. There are so many ethnic nationalities in Africa. It is the tribe that describes the music, not the language. It is the environment that describes the music.” These views amalgamate his fusion flick of tradourban music styles and sound shapes.

Even if he is not totally satisfied with the feedback, he needs people who can look him in the face and say, ‘you messed up.’ This is particularly important to him as music is the principal thing that puts food on his table. On the side, he teaches music, buys, sells and hires musical instruments.

Seun was in his elements on this particular night. Earlier, he had demonstrated the unique dance that he has evolved and he’s being identified with. He said body movement is due to his understanding of the tools of drama that he was exposed to while studying Creative Arts.

He has since left the atmosphere of formal of studies to practicalise his training. “Along the line, you find your own interest and develop your own movement.”

THE DIRECTION OF SEUN’S MUSIC IS THE RESULT OF A COMBINATION OF HIS EXPOSURE, PEDIGREE AND BACKGROUND. WHAT HAS EMERGED AS SEUN’S UNIQUE SOUND GIVES CREDENCE TO HIS PARENTS, PARTICULARLY HIS FATHER, A MEDICAL DOCTOR WHO USED TO PLAY THE PIANO IN CHURCH, A BROTHER, “AS WELL AS THE RESULT OF RUBBING MINDS WITH LIKE MINDS

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T H I S D AY SUNDAY FEBRUARY 19, 2017

57

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ ͯͷ˜ Ͱͮͯ͵

ON THE COUCH

OLANREWAJU ADEPOJU (POET)

I Have Never Been to a Classroom Interviewed by Funke Olaode Can you tell us about your background?

I was born in a village called Oke Pupa in Akuffo area of Ido Local Government Area of Oyo State. My late father, Pa Gbadamosi Olajide Adepoju was a farmer. I grew up learning the names of various creation of God like plants, trees, animals, rivers, mountains and so on.

Did you have formal education as a poet?

I have never experienced classroom education and have no certificate from any institution.One thing that may sound incredible about my life is that I never went to school. I braved the odds to learn when my cousins came for holidays to our village. While they were talking, they would suddenly switch to English language, and it pained me a lot that I did not understand the language. So I started saving money from firewood sales. One of my cousins Muyideen Oyedele (now deceased) started teaching me. I had already passed school age when I started learning Yoruba alphabets and it took me one week or two to finish the entire contents and started learning to read and write effectively in Yoruba Language.

It was when I moved to Ibadan that I started learning English.

My organization (WNTV and WNBS) wanted to publish my works.

The copyright issues arising from that proposed venture generated controversies which led to my sudden disappearance from television. At a point, I was producing ‘Gbele Gbo’ and ‘Tiwa Nti Wa,’ Yoruba programmes, I was also manning the continuity as an announcer. Suddenly, my organization gave me an ultimatum to submit the scripts of my past Ewi broadcast on radio and television or face the consequences. When it was getting out of hand, I handed in my resignation letter.

What inspires your poetry?

My family is the greatest school, where I was first taught the use of language. I can say I got my poetic inspirations came from my father, my grandfather and other knowledgeable members of my family, whose usage of deep Yoruba words shaped my early exposure. I also invested in several books that cover politics, religion and other disciplines. You know as a poet, I needed to research to keep abreast of happenings. I belong to top associations like Egbe Olukotan Yoruba, an association that parades professors. At a time, I was an executive member.

leadership. During the military era, especially during the Babangida era, I waxed some records, which did not go down well with the administration. I was arrested and prosecuted over an album I released. I was in detention for a while before being arraigned at a High Court in Ibadan, where they made a lot of unfounded allegations. I was discharged and acquitted because they couldn’t prove their allegations. On another occasion, I released another Ewi hit and the then Commissioner of Police invited me for questioning. I told him that the album had nothing to do with the government and they eventually let me go. I had so many nasty experiences like that in the course of performing my profession as a talking poet.

You were once a thorn in the flesh of the military, were you not afraid for your life?

You take life as it comes. As a powerless citizen, in my days in broadcasting, I never tolerated any bad

Where did you get your penchant for advocacy?

I am a product of my society. I have all along been living among indigenous people, but the abnormality of the Nigerian situation makes me unhappy. It

is natural for anybody that had the kind of orientation I have to take the path I have taken if the platform is available.

But you veered into journalism/ broadcasting at a stage…

Back then it provided a platform for me to ask questions on accountability from leaders. I was once a proof-reader in a newspaper organization called People’s Star Press Limited, founded by the late Ladoke Akintola. I also played other roles in that newspaper organisation which shaped me until I became a broadcaster in the late 60s, 70s. In my broadcasting days, I introduced a programme called ‘Ijinji Akewi’. I used to comment on happenings in the country, which did not go down well with my bosses at WNTV and WNBS; but because of my poetic effusions, I became the darling of every Yoruba listener and my talent began to show.

Why did you suddenly disappear from television?

Which of your albums Shot You to fame?

There was an album I did after the assassination of General Murtala Mohammed; it was a bilingual record waxed in Yoruba and Hausa. However, I think my most popular album is ‘Obafemi Awolowo’ which was released in 1979. It was accepted everywhere and it brought me to limelight. Thereafter, I followed with several other records that also received widespread acceptance everywhere in Nigeria. After the death of Chief Obafemi Awolowo, I waxed another record ‘Iku Obafemi Awolowo’; the flip side was ‘Nibo La Nlo.’ When was your best moment?

I was excited when I had my first child.

My happiest moment was when I visited Saudi Arabia and saw the Holy Mosque.

I wept at its architectural; same with when I saw the Holy Prophet’s Mosque in Medina. Another occasion was my first visit to London in 1985.

Why the sudden change in your lifestyle?

My total acceptability of Islam affected my music and my world view on religion. I bought a biography of Prophet Muhammed at a bookshop in London written by one Muhammed Hyka. I took it to my hotel and started reading it and was touched. I have always been a Muslim but I didn’t have a clear understanding of Islam until I got the book. It changed a lot of things. I had to remove some things from my music.

FOCUS

Tale of Love versus Family in Brand New Movie

A

old-school lawyer ’s daughter is set to marry a retired policeman’s son. However, their parents’ deep suspicion and disapproval turn the lovebirds into strange bedfellows.

Tobi Balogun, a 35 year-old Doctor, and son to a retired Police Sergeant, Abu Balogun, is in love, and ready to marry Nancy Okezie, daughter of Donald Okezie, a retired magistrate. However, trouble starts after they secretly get engaged, and introduce each other to their families.

Directed by Charles Uwagbai and produced by Bola Oba, the movie features Toyin Abraham, Chris Attoh, Dele Odule, Ayo Mogaji, Charles Inojie, Ngozi Nwosu and others.

Ngozi Nwosu and Toyin Abraham

58

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž ÍŻÍˇËœ Í°ÍŽÍŻÍľ

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ÍŽÍśÍŻÍŻÍ˛Í˛ÍˇÍłÍąÍ°Í˛Ëœ nseobong.okonekong@thisdaylive.com

Temple Management Company Signs New Deal with 9ice, Jeff Akoh Nseobong Okon-Ekong

T

he Temple Management Company Limited, TMC, the creative talent and event management company that created a storm last year by entering a rewarding working relationship with Don Jazzy’s Mavins Group, signing on Iyanya, as well as staging a world class concert to honour King Sunny Ade at which one of his guitars was auctioned have started the year with a bang by signing Gongo Aso crooner, Abolore Akande, popularly known as 9ice and ex-Project Fame Winner, Je Akoh who is an acknowledged R&B starlet.

9ice’s arrival to TMC is primed to chart a new direction for his career, while Je is viewed to have made a positive career move by joining TMC. While receiving 9ice, Idris Olorunnimbe, CEO/ Founder, TMC noted that 9ice still commands a strong place in Nigerian music. “We recognize the foundation that 9ice has built and established, together we can build on and take it to newer heights,â€?

Olorunnimbe said. “At Temple Management Company, we donot gamble but believe in strategy and pinpoint execution,� he added.

He explained further, “With our team and structure, we are here to support 9ice to actualize his career goals. In 9ice, we see a brand that has an important and strategic core that we can expand.�

Using a 360 approach to management, the company oversees the day to day business/aairs of creative talents and ensures that they maintain sustainable competitive advantage over the rest. TMC prides itself in its ability to operate on a global scale.

The company’s mission is to continually improve on African content, bridge the gulf between talents and their foreign counterparts, and guarantee that processes are in line with international best practices.

Primed to chart a new direction for his career, Gongo Aso crooner, Abolore Akande, popularly known as 9ice, has joined the likes of Mavins Records and

ZMIRAGE TAKES MAMA AFRICA TO CAPE TOWN By popular demand, Miriam Makeba: Mama Africa the Musical returns to its home base -Cape Town - this week courtesy of the United Kingdom office of the Lagos-based ZMirage Multimedia Company led by the ace theatre technician and producer, TejuWasee Kareem.

The production, which premiered in Cape Town mid last year, is coming up at the The Artscape Theatre Centre after its intensive tour of Missouri and New York last October.

The story of the life and career of the Grammy-award winning singer and civil rights activist, is delightfully told in the musical, written/directed by Niyi Coker Jnr, winner of Washington DC Kennedy Centre Award for directing.

Coker is the E. Desmond Lee Distinguished Professor of African/AfricanAmerican Studies, Theatre & Cinema Arts at the University of Missouri, Saint Louis.

The cross-continental cultural project, Mama Africa TheMusical, started three years ago as a collaboration between the University of Missouri, St. Louis USA,

9ice (signing) surrounded by The Temple Management team at the signing ceremony

Iyanya by signing a deal with Temple Management Company.

The deal was consummated on Thursday, February 16, 2017 at the corporate oďŹƒce of the company in Victoria Island, Lagos and witnessed by representatives of both parties.

While receiving 9ice, Idris Olorunnimbe, CEO/ Founder, TMC noted that 9ice still commands a strong place in Nigerian music. “We recognize the foundation that 9ice has built and established, together we can build on and take it to newer heights,�

Olorunnimbe said. “At Temple Management Company, we do not gamble but believe in strategy and pinpoint execution,� he added.

Je, a gifted singer, the youngest winner of Project Fame in 2015, signed the dotted lines in the company of his mother, Betty Akoh, at the corporate oďŹƒces of the

company in Victoria Island, Lagos.

Je impressed a high-octane audience holding his own among established acts like Awilo Longomba, Sir Shina Peters and OnyekaOnwenu at the recently held ‘Sunny On Sunday Concert’ in honour of King Sunny Ade. According to Mark Redguard, Head of Entertainment, “Temple Management is not only about A-list artistes, we are also focused on artist development by nurturing young stars who will take the reins. In Je Akoh, we at TMC see this lofty vision is actualised and we hope to do some wonderful things together.â€?

An excited Je said, “It is the joy of every artist is to have a solid backend and I am happy that TMC brings that and a lot more with strong aďŹƒliations with global players in the entertainment industry. After I won Project Fame, there has been a lot of

Mercy Johnson and Nuella Njubigbo Chikere at the premiere of Light Will Come

and the University of Cape Town, South Africa with the collaboration of the ZM Makeba Trust.

INTRODUCING GWILZ He is hot, fresh and daring. He is the one-man riot squad who cannot wait to give all the major rappers in Nigeria a run for their money.

Not caring whose ox is gored, he says

to everyone’s hearing “I am Gwilz. I am the King of the Word, the ToastmasterGeneral and the Minister of Rap. I am lyrically licensed to kill!�

Hopefully, Gwilz will soon get girls everywhere swoon his music of Gwilz and recite his lines. Gwilz is an exceptional talent. He knows how to weave words together and create unique impressions. Gwilz has the uncanny ability

expectations from Nigerians, rightly so.

I am more conďŹ dent than ever that I can do some fantastic music. As they say, when preparation meets opportunity, the inevitable result is success.â€?

In his remarks, 9ice said, “For me, this is the right thing to do at this stage in my career and indeed for any forward thinking artiste. When we started music, we grew with the knowledge that everything was all about the artiste; you are the manager, owner of the record label etc. We did this to the best of our ability.� “This is the time to give experienced professionals the chance to take care of you because one will become the better for it. Temple Management are like our own Sony or BMG in Nigeria. Any artiste who plans to grow needs to work with the right people such as Temple Management Company.�

to start a rap line in uppity English, swing to Igbo, pivot to Yoruba, come back to pidgin while keeping the beat pumping.

Gwilz is an original street boy and he has the scars to prove it. Not too long ago, he was a barber, cutting fancy hairstyles in the Egbeda area of Lagos. “I do what I have to do and say what I have to say. I grew up wanting to be a very good dancer but dancing in Egbeda was highly discouraging, so I gave all to music, irrespective of what everyone said to me. I am the third child of my parents and I have strived hard to become somebody in order to avoid mediocrity. At this point, I don’t think there is any amount of discouragement that can break this wedlock of my music and me,� said Gwilz For several months, the unique sound of Gwilz, a Libra born on October 1, Nigeria’s Independence Day, has been cooked in the TOPS kitchen.

LIGHT WILL COME PREMIERES It was indeed a parade of who-is-who in Nollywood as celebrities and top notch actors stormed the exquisite Silverbird Galleria, Victoria Island, Lagos for the premiere of a new movie,

FEBRUARY 19, 2017 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

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ENTERTAINMENT internet on a melt-down.

So far, the game has been exciting and keeping viewers glued to their TV screens. When you think it is becoming predictable, Biggie throws in a twist and creates more suspense for viewers. After the eviction of CoCoIce, the female rapper in the house, two new housemates, Jon, an artist and Ese, an actress/comedienne were introduced to the amazement of housemates. Ese and Jon’s mission is to create even more drama and give housemates a run for the N25 million prize money.

Unbeknownst to the other housemates, the new guys are not in the game for the ultimate prize; they are there to infuse confusion and possibly evoke deeper emotions from other housemates and hey, who says winning N25 million is going to be an easy task?

During the diary session with housemates, Biggie asked what they thought about the new housemates. It was a unanimous view that Ese is giving Bisola a run for her money on who the loudest housemate is. Winning the task of the week and getting the Head of House title made it an arduous task for anyone to relegate Ese, who is beginning to hold sway. Ese herself has been quite assertive and playing the game with gusto. She is surely one of the ladies to look out for.

As for the guys, it is obvious that cute Jon is a threat. Although he assured Ebuka he was not going to be another ‘Miyonse’, he is already very close to TBoss. It is the general opinion that she may be missing Miyonse very much, which is why she is attracted to the light-skinned Jon. Jon says his sight is set on Bally who has been very quiet and coasting slowly to the finish line.

Bally is confident so much so that he has not put his Green Card to use. This gives credence to Jon’s observations.

With the current chemistry between him and TBoss, one wonders if Jon will be focused on his mission or if he will be distracted by a pretty lady.

Jeff

Light Will Come.

Leading the pack of the cast was screen diva, Mercy Johnson-Okojie, who plays Viola, a hooker with a tough exterior and heart of gold. Resplendent in her black shimmering dress, she looked gorgeous on the red carpet.

Also, Nuella Njubigbo, Eniola Badmus, Shaffy Bello, Ada Ameh, Rahama Sadau, and Hafiz Oyetoro (Saka) all cast members brilliantly at the event.

Ashawo singer, Flavour, was not left behind as he breezed in half way to the premiere. Other guests at the occasion include star actress, Princess, Roy Murray Bruce, Jonathan Murray Bruce, and Gabosky to mention a few.

Written, directed and produced by Tchidi Chikere, Light Will Come is distributed by Silverbird Film Distribution Limited.

The movie tells the story of Lukas (Hafiz Oyetoro), a bumbling and comical Personal Assistant to his chronic bachelor boss, Raymond (Majid Michel). Raymond’s parents mandated him to get married and the desperate search together with Lukas to find the ideal woman his elite parents would approve of goes wrong repeatedly.

Time is running out on Raymond and he secretly engages the services of an escort agency that presents Jessica (Nuella Njubigbo) to pose as his fiancée, but the plan ends in disaster. There comes Viola (Mercy Johnson) who agrees to the plan but there’s a snag, as they are both from different worlds. The web of deceit is continuously spun before Raymond’s parents until something finally goes wrong… And add to all these, is Lukas, who has to contend with his domineering and abusive wife, Aisha (Eniola Badmus), who takes delight in physically assaulting him at home.

FAKE HOUSEMATES BRING INTRIGUES TO BBN HOUSE Not a few ardent followers of the reality show, Big Brother Naija believed the two new housemates; Debbie Rise and Bassey would be the last the surprise in the Big Brother Naija house.

No one knew Biggie had so much up his sleeves. During the live eviction show; Big Brother again introduced two new housemates Jon and Ese. But they are both fake housemates.

Now in its fourth week, the tempo has not slowed down. Viewers are excited over the new twists. Social media platforms are on fire, regardless of the fact that the new housemates are there solely to spice up the drama and possibly break up the cliques and alliances and perhaps forge new ones.

It is the general opinion that the game is beginning to take a more intriguing dimension and only those who know how to turn with the tide will survive it.

At last Saturday’s party, housemates may have been a little tipsy from all the alcohol supplied by Biggie. This emboldened them to again embark on the ‘Truth or Dare’ game that require them to tell that truth about a question asked or dare them to do something crazy. This time around, CoCoIce who was eventually evicted was dared and without wasting much time, she unzipped her dress and proceeded to respond to the dare which sent the

Niyola Eargasm Concert 3

Niyola Gives Lucky Fan Sexy Lap Dance at Eargasm Concert R ‘n’ B singer Niyola made a daring move that caused several men to drool and go green with envy at the recently concluded ‘Eargasm’ concert which held on the 11th of February, 2017 at EKO Hotel Convention Centre, Victoria Island, Lagos.

Niyola opened her performance with a number of songs; singing with a live band and showing off her vocal deftness; to which the audience continuously applauded in glee. During her performance, the singer asked the band to mute; before going on to request for a male volunteer among the audience for her next performance.

Trying to randomly pick a lucky guy from the excited volunteers who frantically raised and waved their hands, a random guy; about 6’5ft with a husky physical appearance boldly strode towards the stage; causing Niyola to exclaim excitedly before taking his hand to help him ascend the stage.

The singer then told the guy to sit on a chair, which had been on the stage prior to her own performance. She moves on to bellow at the audience “This is how you treat a man!”

Slowly, with a suggestive gaze at the audience; Niyola sat on the lucky guy’s lap; rotating and wining her waist back and forth; inducing a frenzied loud roar from the entire audience.

After a few titillating minutes, the ‘Toh Bad’ songstress thanked the lucky fan before ushering him off the stage.

It was an unforgettable evening as legendary singer Sir Shina Peters alongside 2face, Tekno, Adekunle Gold, Acetune and others graced the stage.

Hosted by popular comedian Bovi who

continuously sent the audience into gales of unending laughter, Eargasm was beyond the average Nigerian concert as it was held in a cozy setting, ensconcing the audience in an atmosphere filled with affection and love.

The concert was held to celebrate the season of love; Valentine, as well as sate the desires of music lovers for smooth, classic music.

The night witnessed ecstatic performances from an eclectic line-up of revered musicians, which included Yinka Davies who harnessed her electrifying vocals; spurring the audience to bellow in excitement. Afro Juju legend Sir Shina Peters also induced hysteria from the audience with his surprisingly energetic performance, as well as erratic dance moves from his dancers on stage.

Urban Highlife sensation Adekunle Gold performed some of his biggest songs like ‘Orente’, ‘My Life’, ‘Sade’ and a few others.

Pop Group Styl-Plus made a surprise appearance; taking the exuberance of the atmosphere a notch higher with their surprise appearance; performing their biggest hits like “Run Away”, ‘Imagine That’, ‘Call My Name’, ‘Olufunmi’ and more.

Rapper-singer Kelly Hansome thrilled the audience; performing his early smash hits like ‘True Love’ and ‘Like Play Like Play’.

Widely celebrated singer 2face took fans down memory lane; performing some nostalgia-inducing songs from his early albums like ‘True Love’ and ‘My Love’ before highly sought-after Afro-pop sensation Tekno went on to close the concert; performing ‘Diana’, ‘No Be Wash’, ‘Duro’, and ‘Pana’.

#BREAKFREEFLASHMOB SURPRISES SHOPPERS It was such a spectacle at the Ikeja City Mall on Friday, when dozens of young people orchestrated a flash mob with a ‘BreakFree’message, urging shoppers to break free from situations that limit them from actualizing their full potential.

The campaigners who wore shirts with the inscription: #BreakFree, held manypeople spellbound as shoppers stood to watch in amazement. There was dancing, singing, and some comic display whilethe spectators, who were thoroughly entertained, took photographs and recorded video clips with their mobile devices.

It remains unknown what the #BreakFree campaign is all about, many who witnessed the show said they believed it must be associated with something revolutionary, which they look forward to.

“This is very inspirational. They are motivating us to break free from things that hold us bound. So it’s a good message. I just don’t know who is behind this and what they want to achieve but they have entertained us and challenged us to break free. I’m going to sit down and think deeply to identify the things I need to break free from in order to live a life fulfilling life,” Deborah Adetutu, who came to shop at the mall, said.

When asked, one of the campaigners, Collins Abudu, said the #BreakFree campaign is aimed at empowering Nigerians to live in freedom, having the power to make their choices in life.

“This is about encouraging Nigerians to live outside the box and explore the various opportunities that they have in life.” he said.

The unique flashmob has since gone viral after it was published on social media.

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ENTERTAINMENT NEWS

Beyonce

From #OscarsSoWhite to #GrammySoWhite Vanessa Obioha To say that Beyonce fans were stunned by the outcome of the 2017 Grammys last Sunday at the Staples Centre, Los Angeles is an understatement. They were clearly gobsmacked. No one anticipated that the award-winning artiste who dominated the Grammys with nine nominations will leave with just two awards (Best Music Video and Best Urban Contemporary Album).

Beyonce failed to win in any of the major categories, that is, the ‘Album of the Year’, ‘Record of the Year’,’ Song of the Year’. Adele, the British pop singer clinched the awards in these categories, setting a record in Grammys as the only artiste who has won all three categories twice. Also, she continued in her winning streak by winning every category that she was nominated.

These series of wins by a supposedly white woman sparked another racial

MEL GIBSON’S TURNING POINT Fate seemed to give Mel Gibson a new lease. Recently, Warner Bros initiated a meeting with the Oscar-nominated ‘Hacksaw Ridge’ director, for a possibility to direct the sequel to its super villain story, ‘Suicide Squad’. Director David Ayer directed the first outing. It is a turnaround for Gibson whose image suffered a setback after his drunk driving arrest in the 2000s. Since his recent flick got nominated in the Oscars, Gibson found himself offered a slew of jobs.

Before Warner Bros approached him, Paramount invited him to join Will Ferrell and Mark Wahlberg in ‘Daddy’s Home 2’. He will also likely join Vince Vaughn for the gritty crime indie ‘Dragged Across Concrete’.

2016 US ELECTION IS THE NEW AMERICAN HORROR STORY Ryan Murphy is bringing the dramatic 2016 US elections to the next season of the anthology series: ‘American Horror Story’. He made this revelation during

backlash on the Recording Academy, the organisation responsible for the Grammys. The protesters’ anger stemmed from Beyonce’s inability to clinch the ‘Album of the Year’ award which she had lost three times; first to Beck, then to Taylor Swift and now, Adele. It is generally believed that The Recording Academy deliberately rewards the white race with the major awards. The last black artiste to win the ‘Album of the Year’ was Herbie Hancock in 2008. Although, Beyonce had won 22 times in the Grammys, she would have made history with her ‘Lemonade’ album if she had won in the major categories this year.

While accepting the award, Adele declared that she didn’t deserve the it.

She said the award should have gone to Beyonce because Lemonade was more than an album.

Racial commentaries on the Grammys have been in muted tones in the past.

Only few artistes like Kanye West spoke

boldly about the wide chasm between the whites and the blacks in the music award. He had continuously argued that Beyonce was robbed in the Grammys.

Then, Kanye was hardly taken seriously due to his controversial mien. Last year, Frank Ocean’s decision not to submit his work for this year’s awards raised some dust, but it was quickly swept away.

Both artistes didn’t show up at the event.

It took Beyonce’s loss on Sunday to get the Black race to finally speak out.

To be sure, Beyonce is not the only black artiste who has been snubbed by the Grammys. Queen of Soul music, Aretha Franklin despite winning the Grammy 11 times, never won the ‘Album of the Year’.

In his defence, Neil Portnow, the President of the Recording Academy argued that the Grammys is in no way racial.

He said that the Grammy is a peer-voted award and not a corporate entity.

“We don’t as musicians, in my humble

opinion, listen to music based on gender or race or ethnicity. Which is what our 14, 000 voters did. It’s a democratic vote by majority....At the end of the day we just went through a popular election, but you had the overlay of an electoral college. And so the popular vote doesn’t necessarily, in and of itself create the recipient of the election.”

He however said that the organisation is working on increasing its diversity just like the Motion Picture Academy did last year after the #OscarsSoWhite campaign.

With this new development, critics argue that the Grammys may suffer a boycott if it fails to adjust its voting parameters to reflect more black winners in the major categories. Chance The Rapper was the only black artiste who won in the general genre category (Best New Artiste).

an interview. According to Murphy, Season Seven of the Fox series will tackle the dramatic defeat of former First Lady and Secretary of State, Hillary Clinton by business mogul, Donald Trump. He said the storyline will be something his audience will be interested in. He also hinted a possibility of having a character based on the President. Shooting will kick off in June.

KATHERINE MCKEE LOSES DEFAMATION SUIT AGAINST BILL COSBY Katherine McKee who joined several women to accuse the comedian, Bill Cosby of sexual harassment lost her case recently. She had earlier alleged that Cosby raped her in a Detroit Hotel in 1974.

However, a federal judge in Massachusetts dismissed her case citing inadequate evidence that the accused committed the crime. Cosby still faces a criminal charge in Pennsylvania from a sexual allegation from a former employee at Temple University.

Bill Cosby

Mel Gibson

Ryan Murphy

ARTS & REVIEW A

PUBLICATION

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19.02.2017

FOR BEN ENWONWU, AIG-IMOUKHUEDE GOES TO LONDON Ben Enwonwu’s masterpiece Anyanwu on display at the centenary event (details

EDITOR OKECHUKWU UWAEZUOKE/ okechukwu.uwaezuoke@thisdaylive.com

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FEB ͯͷ˜ Ͱͮͯ͵ ˾ THISDAY, THE SUNDAY NEWSPAPER

ARTS & REVIEW\\VISUAL ARTS

FOR BEN ENWONWU, AIGIMOUKHUEDE GOES TO LO

Better known in the finance sector as the former group managing director and CEO of Access Bank PLC a Stock Exchange, Aigboje Aig-Imoukhuede, has other passions. Born to parents who earned a living through appreciate art at the tender age of five. Agha Ibiam, who met him at Bonhams auctioneers of fine art and ant

L

ike Pussy Cat, Aigboje Aig-Imoukhuede and wife, Ofovwe, were in London to see the queen. Of course, not literally! Really, the couple’s last Monday’s visit also had little or nothing to do with business meetings, holidays or even shopping. They were in London for the centenary dinner in honour of the late Nigerian modernist, Benedict Chukwukadibia Enwonwu, simply known in art circles as Ben Enwonwu.

Enwonwu, a renowned and respected artist, was the first Nigerian professor of art. His international recognition dated as far back as 1956. This was when he became the first African artist to be commissioned by the colonial British Government to produce a portrait sculpture of England’s Queen Elizabeth II. The successful execution of that sculpture projected him up the ladderrungs of fame.

It was on the premise of the late icon’s renown that Aig-Imoukhuede and family base their interest in his work.

At the centenary dinner hosted by him, his wife and the directors of Bonhams, Aig-Imuokhuede, proudly told a coterie of aficionados at the gathering that the artist’s works are not only cherished in Nigeria but also in renowned galleries worldwide. Without mincing words, he said Enwonwu’s works not only command premium prices in the international art market but also set the standards for the contemporary African art.

The venue for this event was at a posh location along London’s fashionable New Bond Street. It was precisely at Bonhams, a privately-owned British auction house and one of the world’s oldest and largest auctioneers of fine arts and antiques, including modern and contemporary African art in London.

“Ben Enwonwu is indeed the pride of Nigeria and Africa,” Aig-Imokhuede told the gathering at the event. “And he will be celebrated, which is the reason we are here tonight at Bonhams.”

This really wasn’t a night for long speeches. Guests milled around the hall, ogling Ben Enwonwu’s classics, including his bronze sculpture “Anyanwu” which was produced in 1956. Positioned at a corner of the hall, this Enwonwu’s masterpiece valued at £150,000-£200,000

by Bonhams.

This could be why Aig-Imoukhuede, at a media briefing, said that he would have chosen to work in the art industry rather than in baking had he known the value of art. But even these figures seemed modest when compared to Ben Enwonwu’s other works recently sold by the auction house.

Bonhams’ Director of Modern Arts, Gilles Peppiatt enthused about the value of Ben Enwonwu’s works. “His sculpture has sold for £380,000 and his painting £260,000 last year. His work made a lot of improvements. And if you don’t create work, people will not notice, but Ben has done that through his work,” Peppiatt said.

Enwonwu’s works are not only

Other works by Enwonwu on display at the event celebrated for their monetary value, but also for their influence on the younger generation of artists. The renowned British artist of Nigerian descent Yinka Shonibare, who grew up as a young child in Nigeria, told the audience that he embraced Enwonwu’s work with an indescribable love.

“No doubt, he is certainly one of the artists that inspired me to go into art when I came to London to study,” Shonibare said. “But everything began when I was in Nigeria by people like him and his works.

He stimulated my interest into the arts and I feel very honoured celebrating his centenary work today.”

Indeed, his desire to study art almost set him on a collision course with his parents.

He had left Nigeria in 1980 to England and was advised to study law by his parents.

But his predilection for art trumped his parents’ wish. Yet, even that was not easy, as he put it: “Though my parents wanted

me to study law, I wanted to study arts.

I was so determined to study art that my parents later had to allow me. But it was quite a battle.”

Admiring Enwonwu’s paintings which adorned Bonhams main hall during the centenary dinner night, Shonibare extolled the fine arts as a good profession to pursue provided that young Nigerians are focused and hardworking. He also added that they must be ready to study the work of other artists. Education for the arts in London is very good, he conceded. But he also believes that studying arts in Nigeria could also be profitable, especially in Yaba College of Technology and University of Ife. The artist, Shonibare continued, is like a story-teller. Hence, if people could watch films and understand them, there is no reason why they cannot understand and enjoy the visual arts. Shonibare’s works, like Ben Enwonwu’s, will be on display

in March at James Coham Gallery, New York. But in Piccadilly London, there is a permanent exhibition of his works at the Royal Academy.

For Aig-Imoukhuede, love for Enwonwu’s works affected him differently. Unlike Shonibare, he didn’t have to abandon law and banking for art. He rather chose to become a connoisseur. He got his first Enwonwu at the tender age of five. It was a piece about a Biafran soldier who fought during the Nigeria-Biafra war.

And his second work was the portrait of the Queen of England.

“Ben was a multitalented artist,” the banker said. “He was someone I grew up with and I admired him. Most of my family members are very much embedded in the arts and I have a large collection of Ben’s work. If my parents were not as generous as they were when I was growing up, perhaps we could not have been here to honour him[Enwonwu].”

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THISDAY, THE SUNDAY NEWSPAPER Ëž RUARY 19, 2017

ʜ ˺˺

ONDON

Ă‹Ă˜ĂŽ ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ă™Ă? ÞÒĂ? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă’ ÞÒĂ? Ă Ă“Ă?Ă&#x;Ă‹Ă– Ă‹ĂœĂžĂ?Ëœ Ă’Ă? Ă?ĂžĂ‹ĂœĂžĂ?ĂŽ ÞÙ ÞÓÛĂ&#x;Ă?Ă? Ă“Ă˜ Ă™Ă˜ĂŽĂ™Ă˜Ëœ ĂĄĂœĂ“ĂžĂ?Ă?

Aig-Imoukhuede had good reasons to reach out to Bonhams when the auction house first began to project Africa Now: Modern Africa. One of the reasons, he said, was that it something he needed and desired.

Perhaps, proper valuation was another reason, otherwise there would have been no justification for the Monday event.

Enwonwu’s pedigree, he opined, has projected the Nigerian modern art to a very high pedestal, making him a great bequest to humanity. He argued that if a work of art could not be valued in monetary terms, it would ultimately have no value.

Making a side allusion to football, he again argued that a footballer must command a value.

But without a shadow of a doubt, Aig-Imoukhuede’s love for the visual arts must have stemmed up from his parents. His mother, according to him, was the first African curator at National Museum, while his father was the producer and director of films and had also worked at the Federal Ministry of Information.

Aig-Imoukhuede grew up as a child knowing about the masters like Ben Enwonwu or Bruce Onobrakpeya, whose works he also had. “Maybe my own involvement in this gives the opportunity for others to discover what ordinarily they would not have discovered,� he said.

Aig-Imoukhuede professes an undying love for other Enwonwu offerings like “Tutu� and “Ogolo� (which were not on display at Bonhams). “I know Nigerian culture which is vibrant and artistic, but I don’t know how Professor Ben Enwonwu captures it because it comes alive,� he said.

The well-attended event was also graced by some dignitaries like the acting Nigerian High Commissioner to the United Kingdom, Simon Ogah and another great artist of Nigerian descent Mrs Sokari Douglas, among others.

The Inverted Pyramid; Adapted from a novel by Emeka Dike

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ARTS & REVIEW\\LITERARY CAFÉ

ELECTION AS WAR: HOW DICKSON DEFEATED SYLVA Reuben Abati Daniel Iworiso-Markson, Bayelsa’s Landmark Election: How Dickson Deployed People Power to Defeat Federal Might. Abuja: Image Heart Concept Ltd., 2017, xxiv+ 330 pp.

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sobering reality of the Nigerian democratic experience, despite the more than 16 years of return to democracy, has been sadly the continued treatment of elections as war, with politicians threatening to make an election a “do-or-die” affair, or a “shoot-on-sight” phenomenon. Oftentimes, political opponents therefore boast about “conquering” the incumbent’s seat, or that they will “take over” power by any means possible. If the contest is between a candidate who belongs to the ruling party at the centre, and another, the Manichean division is more pronounced, and it is not unusual to hear such phrases as “Federal might”, or the power of “Abuja forces” determining even local council elections.

This desperation for political power and the break-down of elite consensus invariably results in violence before, during and after elections, with hired thugs playing a major role, with so much psychological and physical violence inflicted on the people and perceived opponents. In many cases, institutions of state, which are supposed to be impartial umpires, are sucked into this organized assault on the people’s sovereign right to choose their leaders. There is a certain gradation involved from one election to the other, and from one administration to the other, but so much would seem to depend on the leadership that is provided

by Abuja, where given Nigeria’s skewed Federal system, there is an over-concentration of power and authority, which can either be deployed for good or ill.

The extent to which the foregoing affirmations are true was clearly demonstrated during the December 5, 2015, Bayelsa state Gubernatorial election, following the completion of the first term of the incumbent Governor, Hon. Seriake Dickson of the People’s Democratic Party (PDP). Although there were other candidates seeking the position, Dickson’s main challenger in that election was Timipre Sylva, a former PDP Governor of Bayelsa state, for five years, who was running on the platform of the All Progressives Congress (APC). In the 2015 general elections in Nigeria, the PDP had lost its control of the power-centre in Abuja. The Presidential candidate of the APC, Muhammadu Buhari defeated the then incumbent President Goodluck Jonathan of the PDP. This changed the power dynamics and the tone of electoral politics.

Once the PDP thus lost its pre-eminence, which it had enjoyed for 16 unbroken years, the party became embattled as many of its members defected to the new ruling party whose members boasted about their determination to crush the PDP completely. With a population of about 3 million, eight local governments, 663, 748 registered voters, 1, 806 polling units and 105 wards, Bayelsa state, a PDP state since 1999, was confronted with an opposition and an election like no other in its history.

The Nigeria Police deployed 14, 000 policemen, and for the re-run that took place in Southern Ijaw and 101 polling units on January 9, 2016, 5, 000 policemen were again deployed. Helicopters were sent to the state to conduct aerial security surveillance. More soldiers than were required relocated to Bayelsa state. The APC candidate, Timipre Sylva, allegedly reminded everyone that he had the support of the Federal Government; his campaign was codenamed “Operation Take over Bayelsa.”

What followed was a bitter, and acrimonious drawn out fight between the APC and the PDP, and the break out of violence in parts of the state. It all ended with Seriake Dickson being declared winner with an overwhelming margin, but the APC candidate Timipre Sylva did not accept the results.

He went to the Election Petitions Tribunal. He lost.

He went to the Appeal Court. He lost. He headed for the Supreme Court. He lost, with Dickson’s victory affirmed at every level.

When the entire process was all over, Dickson’s comment on his experience was however, telling: “This election that brought me back for the second term was not just an election. It was more than an election and more like warfare. Getting through it was actually like surviving a war.” In his acceptance speech, Dickson further noted that although the election had been won and lost, “we can’t celebrate because people have died.”

Daniel Iworiso-Markson has now offered us in a book titled Bayelsa’s Landmark Election: How Dickson Deployed People Power to Defeat Federal Might, a detailed even if impassioned account of the nature of that warfare of 2015, the challenges and the travails that Governor Seriake Dickson faced, and how the election was determined.

Abati Iworiso-Markson is Governor Dickson’s Chief Press Secretary. It is understandable that he is unapologetically partisan since, in any case, even with the writing of this book, he is, as they say, doing his job.

It is part of his loyal duty to defend his employer’s interest and promote his political agenda, and for this reason, the book comes across in many parts as an attempt to settle scores with everyone who tried to stand in the way of the PDP and Governor Seriake Dickson, by seeking to seize power through “crude means.”

Nevertheless, the author offers an excellent case study of the nature of politics in a developing context such as Nigeria’s, focusing extensively on the reckless abuse of state institutions. This is the account of an insider-participant, with a privileged ringside view, and Iworiso-Markson uses this advantage to maximum effect. He has produced a reporter and an analyst’s account with a multi-perspective depth - herein lies the value of this book as a field-report on the challenges involved in the Nigerian electoral process.

Ironically, Iworiso-Markson begins his narrative with the intrigues within the PDP authored by those who opposed Dickson’s interest in having a second term in office, and as it turned out the dramatis personae were persons either based in Abuja or with strong Abuja connections. Other aggrieved Bayelsa politicians who felt that the Governor was opposed to their own political interests also championed the “Change Dickson campaign.”

Some of these politicians left the PDP to join the APC. But Dickson whose expression of interest was unshaken, despite the conspiracy, eventually won the party’s nomination, with overwhelming support from not just the Bayelsa PDP, but also the national PDP establishment - whatever remained of that establishment by September 2015.

Iworiso-Markson attributes this for the most part to Dickson’s grassroots popularity wi, h the people, and his achievements under the umbrella of his spelled out Restoration Agenda. What the author overlooks is the fact that the PDP’s loss of the March 2015 general elections, and the eventual departure of the PDP from power at the centre, automatically turned surviving Governors like Seriake-Dickson into the cornerstones of the party. The PDP could not afford to sabotage its chances of retaining Bayelsa state, especially in the face of threats by the triumphant APC to “take over” every possible position occupied by PDP members. The December 5, 2015 Governorship election in Bayelsa state was therefore a kind of national election for both the PDP, seeking to remain relevant, and the APC, wielding Federal might.

There was another side to this dynamics.

Bayelsa being the home state of former President Jonathan, looked like a state that the APC needed to win at all costs, in order to humiliate the former President, and the new power-brokers made no bones about this. In addition, Timipre Sylva who had been removed from office by a Supreme Court Order in 2012, had an axe to grind with the Jonathans and also particularly with his successor, Seriake Dickson. By winning, and shutting out Sylva and the invasive Federal Government machinery, Dickson saved the face of the PDP. His victory also prevented the APC from marginalizing the former President in his home state.

Iworiso-Markson prefers however to focus more extensively on the persona and the legacy of Governor Dickson in his first term. This book offers a detailed portrait of the Restoration Agenda and the achievements of the Dickson administration particularly in education, public health, tourism, provision of infrastructure, human capital development and community empowerment, the Governor’s charismatic politics as well as his deep connection with the people of Bayelsa who refer to him affectionately as the “talk na do Governor”, “the countryman Governor,’” the “Ofurumapepe” (The great white shark) and “the Valentine Governor.”

Special attention is also paid to Dickson’s

campaign strategy for his re-election. Although he was convinced that he had achieved a lot for the people’s benefits, he nevertheless did not take the election or the people for granted. Apart from the threat of the APC Federal might, this was also about the first time, a real, competitive election would take place in Bayelsa since 1999. The Governor therefore adopted a “country-man approach”, going from one community to another, visiting every part of the state, re-selling his candidacy to the people, mobilizing them afresh.

Iworiso-Markson contrasts Dickson’s persona, record and campaign strategy to that of Timipre Sylva, and the politics of other key players in the 2015 election. He dismisses Sylva as an unfit, ill-prepared, unorganized power-seeker who had nothing to show for his claim to power other than his association with the ruling party, a former Governor without a legacy and a candidate with no strategy other than propaganda, Federal Government support, bully tactics, and a mastery of the art of violence and deception. Sylva is thus portrayed in this book as a villain, seeking power opportunistically. But he is not the only one. Timi Alaibe is dismissed as a “serial governorship aspirant” and an overrated Bayelsa politician. Moses Siasia is said to be a young man just seeking attention; Heineken Lokpobiri is put down as a mere Assistant Minister.

The late Chief Sam Inokoba, the former state Chairman of the PDP who defected to the APC, the author tells us, collected money from Governor Dickson for a medical trip abroad, but rather than attend to his health, he probably saved the money “to obtain Governorship candidacy form in the APC.” I consider this the unkindest cut in the book.

But Iworiso-Markson in writing this book prefers to wield a whip against the opposition. Nobody escapes, not even security officers like Major Sanni who ordered Governor Dickson, the state’s Chief Security officer, out of Oporoma based on “orders from above”, and Police DIG Hashimu Argungu who is accused of using the police to help the APC. APC chieftain Orunimigbe Tiwei also receives some lashes of Iworiso-Markson’s whip.

Partisan as this author maybe, he is however honest enough to admit that the media was a major theatre of the war that occurred in Bayelsa and that the Dickson team also endeavoured to match the Sylva team, propaganda for propaganda, doing their best to paint Sylva and the APC with a dark brush. The Governor himself was in the forefront, constantly engaging the media and speaking up as part of a calculated strategy to stop the subterfuge of “Federal Might.”

There is no doubt that the publication of this book rather than put an end to this battle for the mind of the Bayelsa people may well deepen it. The book may also end up being controversial. It is after all, one of the first full-length assessments of the management of Nigeria’s electoral process under the watch of the APC and President Buhari and the conclusions here, are unflattering, a tone that is set even more graphically in Governor Peter Ayo Fayose’s scathing foreword.

Afew final points: Iworiso-Markson enthusiastically says the 2015 Bayelsa Gubernatorial election witnessed the “worst violence in the nation’s history.” He exaggerates. Where would he place the 1964/65 Federal election crisis and the 1983 Ajasin-Omoboriowo imbroglio in Ondo State? In his acceptance speech, Governor Dickson also promised that the culprits responsible for the killings during the 2015 election “will be identified and brought to justice…The government will be undertaking”, he says, “a full account of what happened.”

This book probably serves the latter purpose but how many of the culprits have faced justice, one year later? Was there a formal report asking for the investigation and indictment of Major Sanni, DIG Argungu and all such umpires who tried to impose the “Federal might”? Or the Governor simply chose to forgive and forget? Point is: until Nigeria begins to bring electoral offenders to book, the reign of impunity during elections will continue.

There are many important takeaways, however: one, the underdeveloped nature of Nigerian politics and electoral process; two, the further need for electoral reform; three, the failure and complicity of state institutions; four, the opportunism of the power elite, five, the need for greater emphasis on service delivery and performance; six, the power of the people and the determination of the Bayelsa people to be masters of their own political destiny; and seven, the need for the leadership in Abuja to commit to the integrity of the electoral process. All things considered, students of Nigerian politics, professional politicians as well as researchers will find this book useful as a primary source of information and as a campaign strategy source book. I recommend it.

––Dr Abati originally read this review at the presentation of the book, Bayelsa’s Landmark Election: How Dickson Deployed People Power to Defeat Federal Might by Daniel Iworiso-Markson lastTuesday inYenagoa, Bayelsa State

THISDAY, THE SUNDAY NEWSPAPER ˾ BRUARY 19, 2017

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A TRIBE CALLED YOUNG Yinka Olatunbosun

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atching techniques to theme, these dynamic artists, all five in number, had their works selected around the theme of young contemporaries. Arriving at a fast-paced city with human subjects is naturally intended to slow you down to ponder over the everyday sights that give profound meanings to our human existence.

Beginning with Marcellina Akpojortor, his collection naturally catches the eye of the viewer right from the entrance owing to the imposing size of each piece and the playful colours that complement the subject of children. Mostly toddlers at play, the portraits vary in mood, titles and projections. Akpojortor’s mixed media effort was seen in his 2016 pieces such as “Ah-Da-Tha”, “Ma Ma, Da Da” and “Kesiena for President”.

The toddlers in his paintings are fascinating, contemplative and cheering”.

It’s the artist’s unspoken words on future leaders, a hint at how and why they are precious.

Rewa used his works as the conduit pipe for a visual journey from city to city.

His subjects are urban women, wired with different temperament. What you get in London is different from what you get in Lagos or Johannesburg. His pieces capture some emotional elements, ranging from depression to self-incursion.

One central discovery with all the urban ladies is their style. Their individual style is a function of their prevalent cultural context. No doubt, the fresh paintings provided a clean break from the world of selfies on social media platforms.

For Ezekiel Osifeso, his poetic disposition shone through all his works especially in titles. In his “Allegory of The Herald” and “Reggae and Blues”, his women provided such emotional surge on canvas. Once, a gloomy-looking one bears a tell-tale of sadness that washes over days of joy. The multi-coloured texture of these paintings says a lot about their mood, tone and appeal. Sparking curiosity, Ezekiel’s collection initiates a rare artistic fluidity in the pieces which have detailed hues as well as the force of igniting empathy in the viewer. To strike a gender balance, the artist takes on a male subject in “Maturity’s Fiction”.

Here, a young man, bare-chested with an umbrella in hand shows off his six-pack abdomen. The artists question the idea of maturity in his exploration of physical growth in a young African male.

In many traditional African cultures, the male child transits into manhood with a series of rites, usually ceremonious. A painful circumcision process is one of the landmark cultural events that boys look forward to in fear and sheer anticipation.

When that episode of their lives is over, the world belongs to them to understand and plunder. That African worldview is echoed in this colourful piece.

Those brilliant miniatures from Avoseh Sejiro provide a futuristic perspective on the central idea for the exhibition.

His works are a fusion of human forms and machines to explain contemporary

phenomenon around the subject matter of man and his society. In “Physiognomical Distinction I”, a young lady’s head is replaced by a motor car with human eyes as headlamps. The following work in the sequence has a distorted human face and the piece is a mix of paintings, cut-outs from magazines or pictures. Flashing teeth and. colourful lips are also predominantly featured in this series. The subjects are largely young, their ages range from teen to early 20s. The use of machines in these pieces is an artist’s expression of the concern on how modern technology has shaped our contemporary lives.

In developed societies, robot scientists have fashioned ways in which robots can replace man at work since they are found to be faster and more efficient than humans. In response to the famed criticism against robots as being incapable of expressing emotions, recent scientific breakthroughs have suggested that robots which are capable of providing coital satisfaction are being designed. In more ways than one, technological discoveries are altering our cultural and natural lives.

Robots are potential threats to global labour force and even marriages.

In another work titled, “Automobile

Usman Bags Hausa Literature Award Yinka Olatunbosun

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enowned septuagenarian author Dr. Bukar Usman has been selected as one of the four recipients of the inaugural Alkalam Kungiyar Marabuta Hausa’s annual award on Hausa Literature. He will be presented with Dr Abubakar Imam

Merit Award on Hausa Literature during the event that will hold from March 3 and March 4 at the Banquet Hall of Arewa House in Maitama, Abuja, according to a letter signed by its patron Mahmoon BabaAhmed.

The Alkalam, an association of Hausa Book authors, instituted the award as an annual event.

This year, the event will be part of the activities commemorating the International Writers Day. In his acceptance letter, Dr. Usman expressed his appreciation for the honour and recognition accorded him as one of the maiden award’s worthy recipients and thanked Alkalam Kungiyar Marabuta Hausa for the gesture.

Installation”, the artist assembled a metallic piece from the fender of a commercial tricycle whrich is a major feature of densely-populated cities of the world.

In this piece, one headlamp is retained and so are a few tires. The installation juts out of the gallery wall and grabs the attention of the viewer for a few seconds before allowing the eyes to roam around and beyond the visual aesthetics.

Dimeji’s photography treats existentialist theme of survival using biblical references as texts that served as captions for the exhibits. The allmonochrome collection is feminist; emphasising the strength of women irrespective of their cultural background.

Though the biblical history of man places woman in a role of submission to his male counterpart, this photography shifts attention to the power bequeathed on all humans to subdue the earth. Both women in the pictures represent the subduer and the preserver and how their roles are complementary and necessary for survival. These works may also have strong environmental subject matter of preserving nature in very subdued tone. It is one subject at the heart of global conversations on climate change.

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T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž FEBRUARY 19, 2017

IMAGES

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he Harvard University Alumni Club of Nigeria held its annual Christmas cocktail party at the Lagos Motor Boat Club Awolowo Road Ikoyi, Lagos on Thursday, December 8. The club (a.k.a. Harvard Club of Nigeria) represents all Harvard alumni irrespective of whether they are undergraduates or graduates and is the umbrella organisation for all the alumni of the Ivy-League institution’s schools. The cocktail party, an informal setting where all its graduates (young or old) meet, network and swap experiences, was hosted by the club president, Emeka Dike.

A group photograph of the Havard Alumni with the Christmas cake

L-R: A lady member, Nneka Ezigwe and Oluchi Enuha

L-R: Adimabua Enuha, Nana Kankam and Prisca Ndu and Charles Emelogu

L-R: Ben Nwaroh, Yemi Cardoso and Omar Lababidi

L-R: Emeka Dike, Patricia Ojora , Mrs Martina Dike and Emeka Dike Jr.

L-R: Mipe Okunseinde, Adimabua Enuha, Simone Bartlett and Orinola Gbadebo-Smith

L-R: Nnamdi Agbim, Timi Soleye, Ben Nwaroh and David Ashaolu

L-R: Tara Ojora, Martina Dike, Patricia Ojora and Polly Alakija

L-R: Nneka Ezeigwe,a lady member, Dike Tolagbe Martins and Onyinye Dike

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T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž FEBRUARY 19, 2017

CICERO

Editor Vincent Obia Email vincent.obia@thisdaylive.com, SMS: 08054681757

IN THE ARENA

Nigerian Prisons Service and the Farm-to-feed Strategy for Inmates Comptroller-general of Nigerian Prisons Service, Jaaru Ahmed, says the authorities have issued a plan for inmates to farm to feed themselves due to high feeding costs and inadequacy of funds. But this strategy would be at the expense of the prisoners’ rights. Vincent Obia writes

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omptroller-general of Nigerian Prisons Service, Jaffaru Ahmed, said on Monday in Abuja that the service planned to set up specialised farm centres across the country to enable prisoners farm to feed themselves.

Ahmed said this when he appeared before the House of Representatives committee on interior to defend the NPS’s N72 billion budget for this year. He spoke against the backdrop of the high cost of feeding the over 72, 000 inmates of the country’s prisons, saying N19.8 billion is required to feed the inmates this year.

Minister of Interior, General Abdulrahman Dambazau, had also hinted on the need for prisoners to farm to feed themselves.

As the economic crunch bites, departments and organisations would be devising ways to cut cost and become more self-sustaining – which is okay.

But the idea of mandating prisoners to farm in order to feed themselves while in state custody infringes on their personal rights. It also does not promote the corrective or reformatory role of the prisons. Once someone is in prison or state custody, the federal government, which exclusively owns and runs the prisons, should accept the moral and legal consequences of holding the person. Feeding the inmate is a cost the government must bear, among other services required to keep him alive while in custody.

The International Covenant on Civil and Political Rights, which Nigeria ratiďŹ ed and brought into force in 1993, provides that people deprived of their liberty should be treated with humanity and dignity. The treaty provides that prisoners should not be subjected to inhumane or degrading treatments, and they should be guaranteed the same conditions as free persons. It says that the central purpose of prisons should be reform and rehabilitation, not punishment.

Mandating prisoners to work and provide their own food gives the impression that the prisoners are not a legitimate part of the government’s responsibility. It appears too punitive to be considered restorative for the inmates, and calls the reformative role of the prisons into question. Such a policy may end up sowing the seeds of more alienation among the inmates and fanning the ames of a new hostile relationship with the outside world, when the state should be taking steps to encourage the inclusion and integration of the prisoners into society. More serious, perhaps, is the fact that the policy would aggravate the dismal life of prisoners by increasing their labour.

The International Covenant on Civil and Political Rights also requires the separation of prisoners in awaiting trial detention from those already convicted of crimes. However, that distinction is very blurred in Nigerian prisons, as most inmates are not serving their sentences, but are in pre-trial detention. About 70 per cent of prisoners in the country are said to be awaiting trial. That places even further limitation on the extent to which the inmates’ labour can be engaged by the state.

Though, it would be a welcome idea if the prison farms initiative is introduced as part of the skills acquisition mechanism for inmates. This would be in line with the prison’s statutory reformative function. Through practical experience, inmates can be taught necessary farming skills while in custody and those who want to take up farming as an occupation can be assisted with funds and tools when they regain their freedom.

Nonetheless, there is no denying the enormous cost of feeding the over 72, 000 prisoners in the country. The feeding allowance for an inmate is

N450 per day. Though, the amount is the rate approved by the federal government, prison authorities allege that adequate provisions are hardly made for it in the budgetary allocations to the service.

The prison authorities should insist on adequate funding of the prisons. They should transparently advocate transformation of Nigeria’s overcrowded prisons, which have become scenes of despair and squalor. Such transformation is even more urgent now that the country is in dire need of reorientation.

The federal government can also try to relieve itself of the unwieldy exclusive responsibility for the prisons by sharing such burden with the federating units through constitutional transfer of prisons from the Exclusive List to the Concurrent List.

Exploiting prisoners’ labour to make up for government inadequacies in the funding of the prisons is a sort of shortcut that would defeat the purpose of the prison and do inadvertent harm to society. It should be frowned upon by all Nigerians.

P O L I T I CA L N OT E S

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As NPC Faces the Realities of the Nigerian Society

hairman of the National Population Commission, Chief Eze Duruiheoma, SAN, said on Thursday that religion and ethnicity will be included in the 2018 national census. This is a commendable attempt to face the realities of the Nigerian society. Nigerians are a people of culture, whose devotion to faith and tradition is unwavering.

The Nigerian people have a natural history of positive segregation and healthy competition.

That is why federalism has remained the best political system for the country, and the most prosperous period in the country’s history was when it adhered most to the principles of federalism. Conversely, quasi-federalism – the current political contrivance – has offered the country the worst experience in social, eco-

nomic, and political progress.

Unfortunately, some Nigerian leaders have tried to hide behind their ďŹ nger, particularly, in the area of national census. But the more they try to supress the truth and hope to keep all in the dark, the more palpable and poignant the truth emerges.

It is curious how a country that is organised on the basis of federal character and sponsors religious events with public funds would shy away from an ofďŹ cial knowledge of its ethnic and religious composition.

Now that the NPC is set to confront the fantastic notions of yesteryear, Nigerians only hope that the federal government would give the commission the necessary legal and ďŹ nancial backing to do a nice job. – Vincent Obia

Duruiheoma

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Southern Kaduna Killings: Military to the Rescue After years of bloodbath and destruction of property in southern Kaduna, the federal government has decided to establish a military base in the area to try to put the situation under control, but how far can this go? John Shiklam, in Kaduna, writes

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fter several years of killings and destruction in the southern part of Kaduna State, as well as agitation by the people for military and mobile police formations to end the carnage, the federal government has finally decided to establish military battalions in the area.

On February 4, Chief of Army Staff, Lt. Gen. Tukur Buratai, laid the foundation stone of the military base in Ungwan Yashi, at the outskirts of Kafanchan town.

The Kaduna State governor, Mallam Nasir El-Rufai, said the federal government approved the establishment of two military battalions in southern Kaduna, stressing that the second one will be located in Kachia.

Agitation For several years, the southern Kaduna people had demanded the establishment of a military base in the area to check the activities of rampaging Fulani herdsmen, who invade villages, kill and destroy property. But such agitations had fallen on deaf ears.

The marauders have for long exploited the fact that it takes hours for security agents, who are always deployed from Kaduna, the state capital, to reach the affected communities to perpetrate their evil act.

El-Rufai described the setting up of the military base in southern Kaduna as a dream come true.

“This foundation laying ceremony is a promise fulfiled because when we were campaigning for the governorship of Kaduna State, we promised whatever we can do to persuade the federal government to establish a military and mobile police formation in southern Kaduna,” El-Rufai said during the foundation laying ceremony.

He added that President Muhammadu Buhari had based on the recommendation of the COAS approved the establishment of a second military base in Kachia. “We are grateful to the president and the Chief of Army Staff for the military formations because it will enhance the security of lives and property in our state, particularly, in this part of our state. This is a promise fulfilled and for that, I am a happy man. The construction of the barracks will take a little longer.”

The governor added, “We cannot wait for a little longer. We need to provide the Nigerian Army facilities so that they can deploy as many officers and men as needed to keep peace in southern Kaduna.” He denied allegations that his administration was not doing enough to address the southern Kaduna crisis, urging his critics to look beyond rhetoric.

El-Rufai said his administration had done more in terms of security in that part of the state than any other government in the last 20 years.

Optimism The governor stressed that the military units would help to end the impunity that had gone on in southern Kaduna for years.

According to him, “We have had 11 crises in the past. By God’s grace, this will be the last one. It will not only be the last one because we are investing in security and establishing military bases, but because we are going to prosecute those that caused this mayhem.

“Each and every one that we can get our hand on will be brought to justice. Gone are the days that there would be crisis like this, there will be commission of inquiry, white paper and nothing comes out of it. This people will go to prison for what has happened in southern Kaduna.

“This, I promised you. We will do whatever we can to ensure that those behind this and those that participated in this are brought to justice.”

Threat Assessment Buratai, in his remarks, at the ceremony explained that the decision to establish the military unit was based on a threat assessment carried by both the Army Headquarters and the Defence Headquarters. He said, “We have been tasked to defend the territorial integrity of our country and to defend it also from any external aggression and, indeed, to support the civil authority in the area of internal security.

“The unit has the primary responsibility of providing internal security to the area.”

Buratai maintained that the Nigerian Army was committed to the peace and security of all parts of the country and urged the people of southern Kaduna to be peaceful.

Before the foundation laying ceremony money, Buratai visited the Chief of Kagoro, Dr. Ufuwai Bonnet, and the Emir of Jama’a, Alhaji Muhammadu Isah Muhammadu II, where he appealed to the royal fathers to encourage their subjects to embrace peace.

Buratai stated, “Peaceful coexistence is key to our development.

We have lived together for a long time in peace and harmony and we must continue to live together. We are here to maintain peace and we will do that through the application of rules of engagement.

Our troops are under instruction to strictly adhere to the rules

El-Rufai at the foundation laying ceremony of the military base in Southern Kaduna of engagement. We are here to protect everybody doing our job professionally.

“People have started returning to their homes. While there are some isolated cases of killings, we want to assure that we are ever determined to move into the bushes and other hideouts to fish out the perpetrators of these heinous crimes.”

Appreciation Many people welcomed the establishment of the army battalion, saying it will ensure quick response to any security threat in the area.

National assistant secretary of Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN), Dr. Ibrahim Abdullahi, said a military formation in the southern part of Kaduna was long overdue, nothing however that the key to peace is in the hands of the people.

Abdullahi said, “It is something that we have been calling for, for so many years. If you look at commissions and panels that were set up by previous administrations (to investigate the crises in the area), their recommendations contained requests for the establishment of military and mobile posts in the southern part of Kaduna.

“So we commend the federal and the Kaduna State governments for responding to this very important need of our people even though people must have the will to live in peace with one another.

“I think the military presence there will help a lot in solving the problem. But the most important thing is for people to agree to live in peace.”

He stressed the need for dialogue among the people as a tool for resolving issues.

Doubt However, a former Attorney General and Commissioner for Justice in state, Mr. Mark Jacob Nzama, maintained that the military formation was not the immediate solution to the current problem.

According to him, the military unit may be a long term approach to the issues.

“It is not a solution to the current challenges. The current challenge has to do with a gang of marauders hiding in the bushes, who come out intermittently and attack people and withdraw back to the bushes.”

“Government had admitted similar situations in Kaduna State where criminals chose choice locations and from there launch attacks on communities. Government had demonstrated in those instances, for instance, the Kamuku forest in Birnin Gwari, we also have the Zamfara experience.

“Government in those instances exhibited interest in solving the problem. What government did was not to go and build a barracks in those places; government moved in with speed and force into the forest and confronted the criminals.

“The result was apparent, the criminal elements were routed out

of the bushes and the criminality was checked. I can say it very clearly that when government is interested in solving a problem, it knows exactly what to do.

“We saw the prompt action of government in the Zamfara matter. The president personally flew in there and was in a military fatigue for the first time since his retirement to demonstrate the seriousness with which they were handling the issue and set up a taskforce.

“The same way the Kaduna State governor went to Birnin Gwari and set up a taskforce made up of the army, the air force and the police. They didn’t wait for any barracks. So for me, it is welcome, but this is not what is needed in an emergency.”

Belated Development Bishop of Anglican Diocese of Kafanchan, Rt. Rev. Markus Dogo, said the military formation for southern Kaduna was belated, though, it was a welcome development.

Dogo stated, “It is a welcome development even though it is coming late. We are hoping that the military and the police will be more proactive. The only thing we are waiting to see is if they will enter the bushes and flush out the criminals from their hideout. I must confess that there is some knifing here and there in some of the villages.

“In some villages, people cannot go the farms because of fear of being attacked. We hope that it will bring about the needed peace.”

Many, however, are of the opinion that even if the entire Nigerian Army deploys to southern Kaduna, there will not be peace unless the people embrace peace.

Vandalism However, barely a week after Buratai and El-Rufai laid the foundation stone of the barracks, unknown persons went to the site in the night and damaged it.

El-Rufai, while condemning the demolition in a statement by his spokesman, Samuel Aruwan, said the action “further confirms that the conflict entrepreneurs are determined to continue to create obstacles and setback to our stabilisation and peace building efforts.” The governor said, “I received the news with shock over the unfortunate destruction of the foundation laying structure of the proposed Nigerian Army battalion in southern Kaduna.

The situation is unfortunate, condemnable and a setback to the government’s communal stabilisation and peace building efforts, but we will not be deterred.

“We urge our people that cherish peaceful coexistence to continue to be resilient, focused and resolute in overcoming antics of forces of darkness and evil.”

According to him, those behind the demolition are determined to derail the contributions of the security agencies to the peace effort, having failed to spread their tentacles of hate, bigotry and penchant for divisiveness.

THISDAY, THE SUNDAY NEWSPAPER ˾ FEBRUARY 19, 2017

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Buhari

Odigie-Oyegun

Tinubu

2019 and APC’s None-elective Convention Onyebuchi Ezigbo examines the implications of the ruling party’s coming convention on the next general election

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ast month, the All Progressives Congress announced that it would hold its national convention in April. It would be the first convention by the party since it won the 2015 presidential election. The announcement of the convention plan came amid brewing internal wrangling within the party, which led to calls for restructuring of the leadership of the party by some stakeholders. Some decisions of the APC leadership under the national chairman, Chief John Odigie-Oyegun, with regard to the candidacy of the party in the last governorship election in Ondo State had caused hot exchanges between the chairman and the national leader of the party, Asiwaju Ahmed Tinubu.

Although the APC later emerged victorious in the hard-fought election with its governorship candidate, Chief Rotimi Akeredolu, a lot of bad blood was generated when the party chose to uphold his primary election victory. This was despite serious protest from other contestants, one of whom was believed to have been sponsored by Tinubu.

Before the Ondo election disagreements, there was also the crisis generated by the election of the leadership of the National Assembly. The nominees of the APC were rejected by revolting members who saw the party’s action as undue meddlesomeness. The lawmakers who had been chosen by the party for the National Assembly leadership protested the development and expected the party to intervene and possibly mete out sanctions to their recalcitrant colleagues. But that never happened. So with all the crisis of confidence and political intrigues going on, it is being speculated that the party may be in for a turbulent national convention whenever it is convened.

Concerns Part of the concerns is that those itching to contest for the party’s presidential ticket in the event of the incumbent, President Muhammadu Buhari, deciding not to run again, would attempt to use the convention as a test ground to plant their own men in the leadership structure of the party. In fact, it got to a stage when there were speculations that some powerful stakeholders, including some of the governors, were pushing to replace members of the National Working Committee from their states during the convention. This created apprehension among the affected NWC members.

The seat of the national chairman of the ruling party

was not spared, as there were speculations that the former governor of Edo State, Adama Oshiomhole, was being drafted to take over the chairmanship seat by President Muhammadu Buhari.

Non-elective Convention However, odigie-Oyegun dismissed the fears about change in the party’s leadership while inaugurating a 10man constitution review committee headed by the national legal adviser, Muiz Banire. The chairman said what will take place in April was a non-elective convention. Also in a statement issued by the national publicity secretary of APC, Mallam Bolaji Abdullahi, the party said the processes leading to the national convention will commence with the congress to fill vacancies in the state party structures across the country.

Abdullahi stated, “The vacancies to be filled occurred principally from political appointments, deaths and resignations. The congress to fill the vacancies would be followed closely by another congress to nominate delegates into the mid-term non-elective convention of the party.”

According to the spokesman, the APC constitution provides that the party’s convention must be held once in every two years. By the constitution of the party, a midterm convention is only used to adopt and ratify decisions taken during the National Executive Committee meeting and issues relating to constitution amendment. It is not meant to elect national officers of the party.

When asked to explain the nature of the non-elective convention being planned by his party, Abdullahi said, “If your thinking is that it would lead to some NWC members leaving their positions, I can tell you that that is not one of the outcomes we are looking at. I believe there is no basis for all the speculations about the convention. This is a normal party process in accordance with our constitution, which states that the convention must be held once in two years. And that’s all, nothing more. However, if anyone has an agenda they want to canvass they can bring it to the NEC meeting.”

Abdulahi said it was the belief of the party that the convention would help to “strengthen us and provide opportunities to resolve all issues before 2019”, rather than the speculations that it would lead to crisis.

Ominous Sign There is yet another sign of brewing conflict of interest arising from the move to restructure the APC Board of Trustees by renaming it “Elders Forum” and pruning it down to about half its current size. When the matter was brought up during the meeting of the NWC, it generated a heated debate that dragged on for two days without a definite agreement and decision. It was, thus, dropped further consultation.

According to a top party source at the meeting, lack of consensus by the NWC forced the meeting to defer definite action on most of the issues, pending further consultation

with stakeholders of the party.

Discipline Just as the move to hold a non-elective mid-term national convention is seen by some observers as a smart way to maintain the status quo in the national leadership, the Odigie-Oyegun NWC is also taking measures to curb the excesses of those regarded as troublesome members of the party. Hence, the Banire-led constitution review committee was mandated to take a look at the current regulations in the party, especially as it affects membership requirements.

This is with a view to strengthening the powers of the party to discipline erring members. The national chairman said while listing the terms of reference of the committee, “Events in the last few months have made me read very carefully the provisions that we have and to my mind, they are so weighted in favour of the problem of people within the party that it becomes extremely difficult to institute disciplinary procedures. I want you to take a very close look at that to make it possible for those who don’t wish the party well but dwell within the party to be speedily neutralised while the details of the cases are being looked into.”

As expected, one of those considered as immediate targets of the disciplinary measures, the estranged deputy national publicity secretary of APC, Comrade Timi Frank, has criticised the move. He warned that the leadership of the party was seeking to assume dictatorial powers.

Frank said the plan by the national chairman and the NWC to review the party’s constitution “is a grand plot to move against the national leader of the party, Bola Tinubu,” himself and other leaders who oppose Odigie-Oyegun’s leadership style.

But Odigie-Oyegun has dismissed the assertion, saying the review exercise is meant to update the constitution of the party and bring it in tune with current realities.

According to him, the party has operated for almost three years and there is need to take steps aimed at cementing the processes and institutionalising internal democracy.

Wrangling Until recently, the APC had pretended that its house was in order, despite signs to the contrary. Presently, there is serious tussle for control of party structures in some state chapters of the APC. At the national level, there are many issues, ranging from poor distribution of political offices, side-lining of interest groups to the furore caused by some defectors presumed to be getting more than their deserved attention. No one in the party could openly accept the fact that political gladiators in the party were beginning to warm up for the 2019 presidential election and that part of the silent intrigues and power tussle raging in the party could be traced to the 2019 ambitions of these party men.

But no matter how the APC tries to conceal the ambitions of its key leaders, unfolding events ahead of the April national convention will definitely make the issues clearer.

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In Benin, Osinbajo Preaches Religious Tolerance, National Unity Adibe Emenyonu, in Benin City, writes on the acting president, Professor Yemi Osinbajo’s message to the Pentecostal Fellowship of Nigeria during its recent meeting in Edo State

O

ne clear principle of Christianity is religious tolerance, as exemplified

by Jesus Christ. Even at the point of crucifixion, Jesus lived up to this injunction. This same precept echoed in Benin City, the Edo State capital, recently when the acting president, Professor Yemi Osinbajo, who is also a pastor of the Redeemed Christian Church of God, addressed fellow Christians. The event was the opening ceremony of the 14th National Biennial Conference of the Pentecostal Fellowship of Nigeria, an arm of Christian Association of Nigeria.

When he mounted the podium at the playground of the University of Benin Teaching Hospital, along the Benin-Ore-Lagos highway, some might have expected to hear s doublespeak. But Osinbajo lived up to his calling, irrespective of political office and affiliation. He was joined by the national president of PFN, Reverend Felix Omobude, and the governor of Edo State, Mr. Godwin Obaseki.

Admonition Osinbajo admonished Christians to continuously preach the love of Jesus Christ, despite religious killings in the country. He spoke on the topic “Our Greatest Enemy is Hate.”

Osinbajo reflected on the origin of religious and ethnic crises in the country in the 1970s and attributed them to hatred. He added that the answer to the crisis could only be found in the gospel of peace.

He said religious crisis was not peculiar to the government of President Muhammadu Buhari or the All Progressives Congress era. According to the acting president, “In the past few years, we have seen the most brutal killing of men and women. The history of blood and religious conflict extend to every Nigeria government.”

He traced religious crisis in the country to 1979, during the Meitasina clash, which left many dead, noting that for Christians to live eternally, they must die for the gospel.

Osinbajo urged Christians to embrace love, saying “hate is the device of the devil” and will not ensure the prosperity of Christendom. He said Christians should not be discouraged when they are being despised by others, explaining that such is the burden of the Gospel.

Osinbajo (left) and Obaseki

Southern Kaduna Killings

Message of Peace

On the southern Kaduna killings, the acting president stated, “Since investigations are still going on, I can’t make any categorical statement. The federal government has taken steps by first aligning with the state government and working with the police to be the first responders.

“It is not true to say that the federal government was silent, it is not true. Troops were sent in after a security council briefing was received from the state and police, after they found themselves not been able to curtail the killings.

“However, from the foregoing it is obvious that every Nigeria leader, whether Christian or Muslim, has tried to solve the problem of the age long killing and none has succeeded. Indeed, the killing has increased in intensity.”

He blamed the judicial system for its failure to rise up to the occasion to prosecute perpetrators of religious violence. According to him, “In many respects, the failure of our criminal justice system to punish culprits has not helped matters. Meanwhile the suicide bombers and those ready to die along with their victims have added a more satanic dimension to the public.

“Why is it that no government has succeeded in stopping these age killings? Let me say that it is because the answer to it, the response to gross wickedness, lies with the church.

“Everything about the gospel contradicts our flesh. As far as the gospel is concerned, the way to live and be fruitful is to die.”

There was noticeable rowdiness at the moment when the acting president urged Christians to love and forgive their enemies irrespective of the harm done to them. This is the age-old admonition to Christians as propagated by Christ Himself. But in the face of the brazen wickedness and killings committed against Christians in Nigeria, the Christians are becoming increasingly exasperated.

In his opening address, the PFN president, Omobude, who is also the General Overseer, Covenant Church, urged Christians to embrace peace and work for the unity of the country.

Earlier in his keynote address, Obaseki said he was happy to host the conference. He urged Nigerians to see religion as a life changing tool. According to him, “As the present economic situation takes full toll on the social system, causing ethnic and religious conflict, as Christian, we must not allow emotions to take a better part of us but rather we should deploy religion as a tool for peace, national unity and development.

“I look forward to the Nigeria of our dream, where Christians, Muslims and all adherents of different religions will live together in peace and unity.

“I thank you for the opportunity of affording our state the privilege to host this year’s conference. The relationship between Edo State and the Pentecostal Fellowship of Nigeria goes back to the pioneering era of Archbishop Benson Idahosa, of blessed memory, the first president of the Pentecostal Fellowship of Nigeria. So, for us in Edo State, this is home coming.”

Obaseki acknowledge PFN’s overwhelming support and prayers for Nigeria in general and the people and government of Edo State, in particular, especially in this season of economic challenges. He said, “By the abiding grace of Almighty God and the indomitable power of the Holy Spirit, may we achieve the economic prosperity that we all pray for.”

The governor said the title of this year’s conference, “From Glory to Glory,” emphasised the goodness, fullness and continuity of God’s thoughts and plans for His children. He added, “The conference once again affords us an opportunity for a sober reflection on some critical aspects of our national development. We are challenged daily by the hydra-headed evil of socio-economic and

political avarice, lack of respect for private and public property as well as the sanctity of human life.

“We are confronted with the failure of institutions charged with the preservation of law and order because the hearts of men have become more desperately wicked.

Laws alone are, therefore, not sufficient without a deeper appeal to the minds of people through authentic religion.

“Therefore, this is an appropriate time to remind us that religion holds the key to the hearts of people and that to change society, we must deploy true religion as a life changing tool. Hence, Albert Einstein, a great philosopher and scientist, exhorts us to combine insights from religion with scientific discoveries to advance humanity.

“My meeting last weekend with religious leaders across the state has revealed that many social scourges can be curbed and eliminated if we express our faiths responsibly and if government actively partners with religious bodies. I assure you that my government is committed to this ideal.”

The governor added, “It is just and Christianly for men of God to guide political leaders in the right direction without necessarily playing partisan politics. I urge all Nigerians not to allow religion tear us apart.

“On behalf of the people and government of Edo State, I welcome you all to this conference. I look forward to the true Nigeria of our dream in which Christians, Muslims and adherents of other faiths will live together peacefully and united. I wish us a successful conference and a great outpouring of the Holy Spirit. May God’s blessings for Nigeria, Edo State and everyone in attendance be from ‘glory to glory.’”

Attendance There were many prominent men of God at the conference, including Pastor Enoch Adeboye of the Redeem Christian Church of God, Bishop Mike Okonkwo of The Redeem Evangelical Mission.

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Odumakin: Why Nigeria Should Be Restructured An activist and Secretary of pan Yoruba socio-political group, Afenifere, Mr. Yinka Odumakin, in this interview with Oladipupo Awojobi, posits that only restructuring can solve the numerous problems facing the country. The Afenifere chieftain also berates the administration of President Muhammadu Buhari for not having a clear cut economic policy, adding that the issue of security has yet to be properly addressed

I

t is now almost two years that President Muhammadu Buhari got to office, of course, we are in recession, would you say the government has improved on its performances on the political and economic front?

I feel the administration is still on the same template as at when it came in 2015. Up till now, we are yet to see a robust economic agenda of the government. They have no economic team, and no coherent policy thrust. All we have been having are episodic reactions, Treasury Single Account (TSA) today, and tomorrow it is something else. We have multiple exchange rates in one economy, and you should expect a free fall of the naira at the moment. You just woke up and banned importation of cars through land border and instead of making money for the government, the customs men are making money for themselves. The government said they were giving N5,0000 to one million poor people, and I wonder, where is common sense in governance. N5,000 today does not cook a pot of soup for an average family in Nigeria. When you give N5,000 to poor people, this money would be used to consume alcohol, some would use it for marijuana. It would not add value to their lives. In any case, you could even see some politicians sharing some of that money, they would just write fictitious names as the beneficiaries of the money. The total of that money is N5 billion in a month and that is N60 billion in a year. If you take that money, and you ask people to come up with Small and Medium Enterprises (SMEs), you would have almost 200 SMEs per state of the federation. Let us say each of the SMEs employs an average of 10 people and they are gainfully employed, then they would have put their feet in the first ladder of prosperity rather than just giving N5,000 to one million people each. Since there is no economic team, it is affecting the system.

On the political scene, we are yet to improve from where we were. Look at the elections that have been held so far under this administration, it is like warfare. You see people disappearing, people being beheaded and all that.

All these things we are saying add to the mood of the political situations in the country. In a situation, where up till today, the President has not congratulated Governor Seriake Dickson of Bayelsa State after he won his election is not good enough. Yes, the President belongs to a political party, but once election has been held, you should put political party apart and accept the will of the people. Those who vote for your party and those who did not vote for it are all under you as the President. The moment you become the President, you should forget about political party. When elections are being held, you could hide under your party, but after that you should embrace all the parties. You must show that the system is much more important than your political party.

It seems the government is achieving a lot in the area of security, don’t you think they should be commended?

The University of Maiduguri was bombed this morning and a Professor and many students lost their lives. A philosopher said, “tell no lies, claim no easy victory.’ We said people are insurgent, so you can never know where they would be. They could be in Sambisa Forest today and Yankari Games Reserve tomorrow. So, it is empty and noisy propaganda for the government to say they have taken over Sambisa Forest. Sambisa is more than the entire South East of Nigeria. Anytime they claim that they have conquered them, Boko Haram would start bombing. What kind of deception is that? You are no longer contesting elections, so you must be responsible to all rather than engaging in propaganda. Everybody knows that the greatest challenge in the world is fighting terrorists. Today they would be in Sambisa Forest, tomorrow they would be in another place entirely. You don’t know where they are.

On corruption, people have commended the President for arresting some judges and prosecuting them. People feel he has thread where nobody dares The President has been going all over the world, telling them where we are. Well, some bold moves have been taken, Also, some people are being prosecuted. But you should know that there is a root of corruption, and we have not dealt with the act of corruption. Unfortunately, the government is only fighting the effect of corruption.

But, the root of corruption is still there and some corrupt people are around him. You could see that there are

television station in the country and all that. He ruled all the entire South West up till Asaba in Delta State with just 11 commissioners. Now, we have several states with several commissioners and advisers. But, now we have several states with several commissioners, advisers and others. When we are talking about restructuring, we are not talking of abstracts, we are talking about something that is real, something that is practicable. We have a lot of thefts, and people are busy stealing money. The Minister of Works is in Abuja, he does not even know some of these roads. So, we need a new model for our government. We need to practice federalism in this country, our growth has been stunted.

We must unbundle this country. Go to Benin Republic, Togo and Accra, you would not see a single pothole there. These small countries, see what they have done. If those countries can do well, what of us? The country is overweight.

You could see that the word; ‘change’ has been bastardized in the country.

People are praising Buhari today, they are condemning Jonathan. Somebody once commended the government of the late General Sanni Abacha. That is what we have been having, you praise the past government. If not that former president Ibrahim Babangida is not well now, he would have been warming up.

Odumakin

corruption scandals amongst the people working with the President. Corruption is not an animate thing that you can arrest, jail or shoot and kill. It is something we need to root out, but we have done nothing in terms of a serious effort to combat corruption. He has done it before, when he came in as a military head of state in 1984, many were jailed up to 200 years, 300 years. Unfortunately, since the last two years, they not sent anybody to jail. Some of the arrests and probes they are doing now have they jailed anybody? If they jail four or five persons throughout their tenure, then we are very lucky. There are exposures everywhere. Even the late Gen. Sanni Abacha, whose loot is being recovered till today, fought corruption.

Look at the 2017 budget, all those that were accused of padding the budget have been transferred to the cash office of the Ministry of Finance. Not one person has been punished. Since the last seven years, the highest of the budget has been recurrent. Look at the money budgeted for electricity last year and the one budgeted for it this year. When people were talking about former President Goodluck Jonathan and they were saying all sorts of things, I told them that the problem of this country is beyond Jonathan or Buhari and that our problem is the structure. Any leader you put there today would not perform.

Let us talk about restructuring of the country The late Chief Obafemi Awolowo said it as far back as 1967 in his book entitled; ‘Thought on Nigerian Constitution,” that any attempt to continue with the structure of the country would lead to disharmony and that the administration of the country would collapse.

We cannot continue like this, where every state governor goes to Abuja monthly for handouts. For as long as we depend on going to Abuja, we would continue to have problems. That has also assisted a lot of indolence all over the country, that is why people are falling victims of MMM. They don’t want to do anything again, just investing and making more money. Whatever you say, it is Ponzi scheme. People just want to get their own part of the national cake.

We must allow every section of the country to develop.

We also need a state police. We must allow every unit to develop on their own. They made the laws and they must be able to enforce the law. Chief Obafemi Awolowo did many things as building of Cocoa House, the first

It seems the PDP has been silenced and someone like you ought to be in government by now?

I am not keen about public office. I am not in any political party, the last party I joined was the Alliance for Democracy (AD) then. Since then, I have not been in any political party. Even, when I worked with President Muhammadu Buhari in 2011, I was not in any party. I am still the Secretary of Afenifere, which is not a political party. I would like to say that there is no party in Nigeria, now even the APC, is it a party? People are just interacting, we don’t even have one political party. The PDP have their own internal crisis. My plan is not to be in any government, especially with the current arrangement.

When I supported Buhari in 2011, it was on the basis of the promise he made that he would restructure the country. If you look at the manifestoes of Pastor Tunde Bakare then, the first thing there is the restructuring of the country, and that is not happening now.

Would you have taken any appointment if Buhari had won the presidential election in 2011?

If he won on the basis of our agenda and he is ready to implement them, I would take it. But, I didn’t make any demand from him, he is still alive, they can ask him.

In 2015, I supported former President Goodluck Jonathan because he organised a constitutional conference in 2014 and I was part of it. He made a pledge and we passed a resolution that he would implement the reports of the constitutional conference. We had over 600 resolutions, if we implement half of the resolutions, the problems of this country would be over. No other thing made me supported them. Even the Vice President recommended restructuring.

Don’t you think the former government mismanaged our economy, which is why we are here?

Don’t look at government from the angle of Jonathan, Buhari and what have you. It is a continuum, Awolowo warned us in one of his columns. It is a progressive regeneration. Somebody said that if you make the Lord Jesus Christ the President of Nigeria and Mohammed the Vice President, or vice versa, we would still have the kind of problems we are having. They would fail under this structure.

Would you support the government interfering with religion?

The state should not interfere in religion. But, if you are a religious body and you engage in commercial activities, you would pay tax on the business. Even, Jesus Christ, our Lord, he was going about preaching and they asked him to pay tax with his disciples. He then called Peter to go and get money from the mouth of the fish and give it to them.

I don’t think the government should interfere in religion. On the stepping down of Pastor Adeboye, I think he decided to effect what Federal Financial Code (FRC) was saying. There are two positions; there are those who said people must leave office after serving for some years, while other people disagree.

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Okechukwu: Our Best Bet on Igbo Presidency is to Support Buhari Osita Okechukwu is Director-general of Voice of Nigeria and a chieftain of All Progressives Congress. Okechukwu says the new leadership of Ohanaeze Ndigbo headed by its president-general, Chief John Nwodo (junior), presents a unique opportunity to douse agitations by IPOB and MASSOB, and make the dream of a Nigerian president of Igbo extraction come true. The former spokesman of APC in the South-east also talks about the President Muhammadu Buhari government, in this interview with Onyebuchi Ezigbo. Excerpts:

W

hat is your take on the emergence of a new leadership for Ohanaeze Ndigbo led

by Chief John Nwodo?

I am one of those who did his little best to campaign for the newly elected president-general of Ohanaeze, Chief John Nnia Nwodo, (Ike Ukehe) who has apparently now become Ike Ndigbo and the Ohanaeze Ndigbo worldwide. So I am one of those who supported him and one of those who believe that it is high time the Igbo branch out of rhetoric and do an introspection, count our blessing and losses in Nigeria, put them side by side like the old Igbo proverb that says if you don’t know when the rain started beating you, you might not know when it ends but if you are aware when it started it might help you. Just like the chairman of the electoral committee, Prof. Osai said before the commencement of voting in his opening remarks, it is high time the Igbo ask themselves that before the civil war there was a conflict between the Western Region and the North not between Western Region and the east and not between the North and the East, how come the war ended up in our own quarters? These are issues we have to review at this strategic point in time. The little I can say is that I am one of those who believe sincerely that Igbos are welcomed all over Nigeria and that our hard work, our industrious enterprising hard work is welcoming and that is why we are investing in every corner of Nigeria. I can say that by my little assessment when you count each of the major towns in the country, if you say the indigenes of the place should step aside, the next indigenes in line would be Igbos to the extent that we go to the federal houses in Lagos State. If we organise we can get a seat in Abuja, if we organise we can get a seat in Kano either in the House of Assembly or the federal house. So that is our level of acceptability.

What is your reaction to the agitations by groups like the Independent People of Biafra and Movement for the Actualisation of the Sovereign State of Biafra?

I said the Ohaneze should find a way to tame the agitation because it isn’t getting us anywhere. When you look back and if you can assess the position of Ndigbo during the 1996 Abacha constitutional conference, different parts of the country voted against region and even the Jonathan’s constitutional conference in 2014 different parts of the country voted against region. Enugu and Ebonyi states voted against region. So if that is a yardstick, unless there is any other person that finds a way of measuring the opinion of the people, it means that people are saying let us have more states than regions, which means the unity of the country becomes paramount than the agitation, though it might not be as noisy as those that are saying let’s go. So I would have preferred Ohaneze to project towards that way and there are advantages if we look at the collective because since we returned

Okechukwu

to democracy in 1999, there have been a position taken in terms of and in contention with the rotation of presidency between North and South. In 1999 the northern elite said for us to stop all the problem, let’s insist that the president should come from the South and I am a witness to when Abubakar Rimi of blessed memory insisted on contesting under the PDP platform and they stopped him. His name didn’t appear on the ballot. The same thing happened

The best our people could do is to support President Muhammadu Buhari for eight years tenure after which we can persuade them on how best we can harness the zoning during the convention, because in the pubic discourse, there are two paradigms; the law which is legal and the second is convention which is moral weight and most of the time we have everything in the convention to favour us in the rotation of the presidency

to Olusola Saraki of blessed memory in the ANPP/AD ticket. That was why Obasanjo did eight years and in spite of the unfortunate death of President Yar’dua, the North said Jonathan’s one term should be and you can’t come back again. They went and united themselves and I say the best our people could do is to support President Muhammadu Buhari for eight years tenure after which we can persuade them on how best we can harness the zoning during the convention, because in the pubic discourse, there are two paradigms; the law which is legal and the second is convention which is moral weight and most of the time we have everything in the convention to favour us in the rotation of the presidency. If Buhari finishes his tenure, it is going South and if it is going South, we can tell the North that we have supported them. Even when the Yoruba didn’t support Obasanjo we voted for him in the second term. When it came to Jonathan we voted for him in the first term and we even voted for him in the one he lost. Then the only thing that can deny us that persuasion is if we are opposed to President Buhari. When we supported Obasanjo, we also supported Jonathan why can’t we support this man? More so when all the federal roads that were abandoned, with the little resources on his table he is trying to revamp them and trying to perform more than those who actually led when Nigeria was awash with the dollars. My own position is that Ohaneze should be strategic in thinking not going to the press to castigate Mr. President which won’t take us anywhere.

Don’t you think the MASSOB and IPOB agitations have become so

popular that Ohanaeze would have no option than to warm to those behind the agitations?

It is very easy to call the mob out but it is also difficult to tame them. The fact is that the boys should be told the truth that across the board if the resources we had were well deployed, there won’t be hunger in the land. Nigeria has fertile lands. If you say under democratic rule the agitation in the east is for more states not for balkanisation that is the majority opinion. The boys should be told the truth. If you say you want to go to war, please, show us the logistics. Where are the trucks that would supply water and medicals? Where are the tankers and armoured tanks because it is very easy for Nnamdi to come from abroad and call Nigeria his home and say he wants to remove Igbos from there. He should be told the truth that we like the major ethnic groups in Nigeria and the minority, that this is our own country, that we are not different even from the United Kingdom he is coming from, which accommodates different tribes, different races. We are not as great as the United States but they manage to accommodate themselves because they are all focusing on the development of the public place. Yes, we are marginalised I agree.

Between now and 2023 if we should support President Buhari, we stand a good chance in goodness and equity, justice and fairness that we will get the presidency. Since 1999 that power came to the South, in three geopolitical zones in the South it has gone to our two brothers, it hasn’t come to us.

The unemployment of youths is across the board; it is the same thing in Kano, in Lagos, in Enugu, it is the same thing in Owerri, in Aba it is across the board. The infant mortality spread, the low quality of education is spread, all development defects are spread equally across the board. So nobody should take it that because he is unemployed that it is peculiar in the region. It is not true. That is my assessment. If you are saying President Buhari didn’t do a fair appointment, let’s say it is a fact. But there is also the other arm. There was a time we were serving in government; our brother, Senator Pius Anyim, was serving in government as the Secretary to the Government of the Federation, our dear sister Ngozi Okonji Iweala was Minister of Finance and coordinating the whole economy, our brother Senator Ike Ekweremadu is the Deputy Senate president, our brother Hon. Emeka Ihedioha, was Deputy Speaker of the House of Representatives and we were chairing the works committee in the House and the Senate but what did we take away? Nothing! Did we agitate that time? So why wasn’t there an IPOB then? We voted for Jonathan in 2011 and supported him, there wasn’t any IPOB and nothing was done. That is the truth of the matter. We supported Obasanjo in 1999, he didn’t do anything, he didn’t develop Enugu coal, he didn’t do second Niger Bridge, he didn’t improve universities in Nigeria and there wasn’t any IPOB. The MASSOB that came then was more moderate than IPOB so when did Buhari step into the shoes?

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Princewill: Lack of Internal Party Democracy Hampering Our Politics This revealing interview exposes the current plans of businessman turned film maker and former governorship candidate of the Labour Party in Rivers State, Prince Tonye Princewill, who fielded questions from journalists on politics, his relationship with Minister of Transport and former Rivers State Governor, Rotimi Amaechi, his political mentor, Atiku Abubakar, and Governor Nyesom Wike of Rivers State. He also speaks on President Buhari’s administration and the direction he thinks the country should go. Nseobong Okon-Ekong brings excerpts

Y

ou have been quiet. No press interviews except for occasional press releases and even then, they were more about your new blockbuster film ‘76, instead of your usual insightful comments on germane national issues. Are you no longer a member of the Labour Party?

I am. But the Labour Party is not without sin. However, their own sin can still be managed. Besides in Rivers State, I take pride in not being part of the problem. I am glad you acknowledge that I have been talking. Life is not only about politics. But even then I still talked about it. The biggest problem in Nigeria today is politics and the lack of internal party democracy. In the bigger parties, good candidates hardly get party tickets. Rather, confirmed thugs, touts, thieves and looters carry the party flag, leaving the poor voters with no real choice. The reason is simple, the party leaders and electoral bodies prefer their own personal interests to the interest of the people. So, we await the day the people will fight back. That day will soon come. Let me be where I am until I have a compelling reason to find a new home. I am not desperate for power.

I am desperate for results. Those who lead the fight may not benefit from it.

The truth is bitter. If it is my portion to fight, then it may not be my portion to also benefit from the successes of that very fight. That is why I’ve removed myself from any future electoral contest.

I’ll simply rededicate myself to helping good people hold public office. It does not have to be me. I find it difficult to understand why intelligent people still struggle to understand that being in politics does not automatically equate to contesting in an election. I no longer want to be governor, I am not looking for an appointment, but I still want to improve my state, my region and my country. My ambition should not get in my way.

How is your relationship with Amaechi? Are you still communicating?

We parted ways before the election because of how my team was treated and his decision not to support Jonathan, but we have since gone past that. Amaechi is not a vindictive person. I am not either.

He goes with his conviction and so do I. His message to me was ‘PDP had no love for either me or my people’ and he was right. My message to him was that there is a consequence for fighting Jonathan. And I was right too. When we parted ways, he and his team said some very unsavory things about me and I about them, but that is fair in war. The war is long over. I extended my hand of friendship to both APC and PDP after the elections. Only Amaechi as minister took my offer. He visited me in my house and we ended up flying that same day to Kano together. I went on instinct.

He came to me in peace. I consider him a “good friend” and a fighter. Politics is not do-or-die for me. That was over a year ago. We still talk from time to time and when I needed the high military authorities to see my film ‘76, he did not

who actually voted for either of them, I’m ready to give both of them their two years before I take a formal position. So far, their records speak for themselves.

But my position in society requires more from me than just my gut feeling. I am not the man in the street so even though I feel their pain, when I talk, it must be without sentiment and constructive, so even the government cannot deny. Good governance is not an emotional exercise.

For now, I pray for both of them, especially Mr. President, now that he is not feeling too well. Health is the priority. Running this country requires a lot of wisdom, strength and grace. From what is at play now, it is clear he has not been operating at full strength. I am sure even he is reflecting on the journey so far. It is not too late to turn things around for either Buhari or Wike. But time is not on their side. Do they have a plan?

Princewill

hesitate to make some calls for me. Very helpful. Everything is not about money.

Do you have that kind of relationship with your Governor, Nyesom Wike?

In spite of the rigged election, I extended my hand of friendship to him too. I did not go to court. I left him to proceed as ordained by INEC. When the Supreme Court judgement was dropped on us, just like it was in 2007, we accepted it again. No fuss. I offered my congratulations and help to Wike in any way he wanted, but not a word from him - no response, no invitation. Except during a radio interview when I advised him to resist the need to respond to every APC comment and instead focus on developing the state. It was then he responded, pointing out that I had no idea what I was talking about because I was not even in the state. My counter advice is if you know so much about my whereabouts, divert some of the state resources used to tracking me to track down the kidnappers and armed robbers in the state. That would qualify as progress. You see Wike is the ruler type, not the consultative leader. He doesn’t need anyone. Let us see where we are by the end of May before we speak further. Even rulers can deliver. Look at Gaddafi and Mubarak. Or even Abacha.

As long as they use the power well. I am a fan of allowing people to lead. No distraction. Until they fail. My own is to wish him well and offer advice, even if he refuses to take it. My agenda is not personal. It’s issue based. The problem with politicians with a warrior mentality is that they are disillusioned when there is no war. Many governors are hiding behind Buhari to explain their poor

performance. It’s smart. But black soot, insecurity, a lack of investment and no jobs for the youths is not a transferable responsibility. I pray for him.

Is Atiku still your political mentor?

Of course. What Turaki can do in his sleep politically, most top politicians cannot do it even if they tried in a lifetime. He knows too many people, is not arrogant and knows too much about how to move this great country forward.

Like Amaechi, he is not at all vindictive, but they are both very stubborn. Like Tinubu. That is what I admire in the three of them. Put them on the same page and you have a force of nature.

PDP felt it in 2015. Also in 2007 in Rivers State. If not for Atiku and Tinubu, Amaechi’s first tenure would not have been as smooth.

Divide the three and the cause is weakened. Seeing them all in APC makes the platform quite tempting if not for the recession mood and their seeming divisions. The two symptoms are indicative of a bigger problem I am yet to understand. That is why I have dusted off all my political robes. I see both the APC and the PDP as presently constituted unable to deliver Nigeria.

They are very similar. The real change has to start within them. No third force is ready to challenge them yet, instead it looks like the smaller parties are merging into even bigger ones. Since I cannot speculate on my children’s future, before May is over, I too will take my stand.

What’s your take on the Buhari administration?

I didn’t vote for him. Neither did I vote for Wike. But unlike some people

What about the Buhari anticorruption drive?

Some people think it is selective.

Maybe. My question is did the people caught steal? If yes then let’s congratulate the EFCC and the ICPC first. They should continue to catch thieves. Even faster. Those enjoying APC immunity today should not be surprised if tomorrow they are victims too of this same Buhari government. I don’t see Buhari as someone who cannot jail his party member or his friend. I suspect the stealing in Nigeria has been significantly reduced, but it has not been stopped.

Nobody is fooled. My plea is catch thieves but grow the economy too. It is not one or the other.

What is the way forward?

Beware of people who pose like they have all the answers. Leadership is teamwork. To solve a problem this big, you really have to understand it. Let me not prescribe for you a prescription to an ailment I’m yet to properly diagnose.

However, I can say this; based on feelers I’ve received and our recent history, Nigerians are still deceiving themselves.

The same politicians they are fighting over call them ‘fantastically foolish’ and here is why: They worship wealth and corruption more than they worship hard work and sacrifice. That which matters most - their children’s future is easily sacrificed at the altar of that which matters least - their stomach. The bad news is this: it is the Nigerian way. The good news is that every day, more and more Nigerians are becoming wise to the ways of politicians and are prepared to confront them.

One day all these nonsense will stop.

Without electoral reform, a consequence for electoral violence, justice being seen to be done and proper patriots, a new breed of rebels will continue to multiply in Nigeria. When I see diehard APC and PDP apologists, I laugh. Neither of them is without sin. Both good people and bad people exist in both or all parties. The answer is not in just one or the other. It’s in good people from all sides of the political spectrum working together, joined by good people outside politics. Period. Politics is too important simply to be left to just politicians, including me.

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Makarfi

Sheriff

Appeal Court Brings PDP to Another Crossroads Onyebuchi Ezigbo looks at the implications of the latest ruling of the Court of Appeal on the PDP leadership crisis

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hen the Court of Appeal, Port Harcourt Division, fixed February 17 for ruling on an appeal by the Senator Ali Modu Sheriff faction of the Peoples Democratic Party, members might have expected a verdict that would tone down the leadership crisis that has engulfed the party since last year. But the majority decision of the court’s three-man panel on Friday stoked a flare-up in the party’s internal squabbles, when it restated Sheriff as the PDP national chairman.

The judgement has left the party further divided.

Rather closing the gap between the two feuding sections of the party, it has widened the gulf between the proSheriff elements and those loyal to the head of the PDP national caretaker committee, Senator Ahmed Makarfi.

The appeal court judgement annulled the sack of Sheriff as the national chairman of PDP, which was the major outcome of the party’s controversial national convention in Port Harcourt on May 21 last year. Since that convention, the party has been embroiled in a bitter power struggle between the remnants of the National Working Committee led by Sheriff and another faction led Makarfi, leading to several litigations and verbal exchanges.

Failed Settlement

Before last Friday’s ruling by the appeal court sitting in Port Harcourt, both the Makarfi and Sheriff groups had initiated efforts to try reach a peaceful settlement of the conflict. Makarfi had made a surprise concession by leading a team of the caretaker committee members on a visit to Sheriff’s office at Maitama, in Abuja, where both groups agreed to work together in order restore peace and stability in the PDP. After the meeting, the two party leaders jointly issued a statement where they gave an undertaking to constitute a peace and reconciliation committee made up of equal number of members from the two parties.

But unfortunately, this peace effort was aborted, even before it got off the ground, by the same people that began it. First, it was the disagreement over the number of members to represent each group in the reconciliation committee. Later, the matter became an issue of supremacy tussle in which Makarfi and Sheriff were locked in a battle over who should be allowed to preside

over the affairs of the PDP pending the outcome of the reconciliation talks. The same argument that led to the litany of litigations also cropped up, with Sheriff claiming that he remains the authentic chairman of the party, and Makarfi standing his ground that the convention that appointed his committee is sacrosanct and if there is anyone who should give way, it should be Sheriff and his team.

Not even the interventions by the PDP Governors Forum and the party’s Board of Trustees could resolve the dispute. At a point, Sheriff dismissed the BoT peace committee as biased in favour of Makarfi rather than brokering a peaceful resolution based on justice and respect for the existing rules. Besides, Sheriff and his NWC did not consider the governors’ forum as an impartial umpire that could resolve the crisis, reason being that two of its members, Rivers state Governor Nyesom Wike and Ekiti State Governor Ayo Fayose, were deeply involved in the conflict.

Sheriff openly stated his readiness to back down and end the struggle if Makarfi would also agree to do same. Worried by aspersions being cast on him by many stakeholders of the party, most of whom saw him as an obstacle to lasting peace, the former Borno State governor also offered to throw in the towel on the condition that he would be allowed to bow out honourably after organising a national convention to elect new national officers of the party.

Makarfi had also exhibited a level of dedication to the cause of rebuilding the party and getting it to move ahead irrespective of the obstacles being created by the leadership crisis.

It was at this stage that all the reconciliatory efforts broke down. Since then, the warring parties have returned to their trenches and continued the legal fireworks.

Determined Struggle

From reactions to the ruling of the appeal court last Friday, it is unlikely that the feuding parties will agree to sit down again on a roundtable to negotiate a peaceful settlement. The Makarfi-led national caretaker committee, which prides itself on having the backing of an overwhelming majority of PDP members nationwide, has rejected the Judgement. It has indicated that it would appeal the ruling at the Supreme Court.

The fight for the soul of the party has been taken

beyond the normal jostle for office. What is happening now has a lot to do with the 2019 presidential race. It has a lot to do with the interests of political gladiators who see the PDP either as a potentially good platform to contest the election or as a threat to their interest to hang on to power at all costs. Many persons have been hurt in the process, promises have been broken and trusts betrayed. In fact, the man at the centre of the storm, Sheriff, is seen by many members of PDP as an agent of the ruling All Progressives Congress whose main goal is to destroy the PDP in an effort to give APC easy electoral victories.

In a statement issued in response to the unfavourable judgement, Makarfi was quoted as insinuating that the ruling APC was behind the turn of events in PDP as part of a plot to make Nigeria a one-party state. He vowed to go ahead and challenge the judgement at the apex court where he said justice will be obtained.

Another statement signed by spokesman of the Makarfi-led caretaker committee, Dayo Adeyeye, said, “The judgement is a big disappointment. It is a travesty of justice; a miscarriage of justice and an invidious attempt to destroy the PDP. The minority judgement is very sound in law, logic and fact. It gives us hope that we will have our day in the Supreme Court.”

According to Adeyeye, whereas the lead judgement by Justice B. G. Sanga and Justice A.A, Gumel left out the main issues and laboured unconvincingly to work to a preconceived answer, the minority judgement by Justice T.S. Orji-Abadua thrashed all the issues and upheld the judgement of the High Court, Port Harcourt, delivered by Justice Liman on July 4, 2016.

Adeyeye stated, “We will certainly appeal to the Supreme Court. No reconciliatory effort will stop it. We need the Supreme Court to make a pronouncement on the issue once and for all.

“We maintain that this is a continuation of the attempt to kill the PDP and thereby destroy all opposition in Nigeria. The rebels in the party, who were favoured by the two justices of the appeal court today, are snakes within the house working for the ruling party. The great conspiracy to silence the PDP is an assault on the Nigerian democracy. We are, however, determined to resist this onslaught to the very last. The struggle continues.

“Similarly, the chairman of the PDP’s Governors Forum Continued on Page 75

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CICERO/INTERVIEW t "11&"- $0635 #3*/(4 1%1 50 "/05)&3 $304430"%4 Continued from Pg. 74 and Ekiti Governor, Ayodele Fayose, has said that the party will challenge the appeal court ruling, which he described as nothing but a rape on our democracy.”

Despair

Adeyeye ended the statement on a note of despair, when he said, “As it is now, it is difficult to see how the party can get out of this mess it finds itself. For any peace effort to succeed, it has to be initiated through a credible process that can command the trust and confidence of the factions.

“But at present, there appears to be an absence of such organ or personality that can serve as a rallying point to broker fresh peace moves in the PDP. The only possible bet would have been the former president, Goodluck Jonathan, but he has not shown readiness to play such roles, at least for now.

In the same vein, two of the most respected organs of the party, the PDP Governors Forum and the party’s Board of Trustees, which would have served as a moderating instrument to intervene and resolve the raging leadership crisis, are themselves neck-deep in the conflict. For instance, there is no love lost between the current chairman of the PDP governor’s forum, Governor Ayodele Fayose, and Senator Sheriff. The same goes for the leadership of the BoT and majority of its members whom Sheriff had accused of taking sides in the conflict. Although, the leadership of the BoT has said that a meeting of key organs of the PDP will take place this week to chat a way forward, from all indications a veil of uncertainty has further enveloped the once vibrant largest party in Africa and is threatening to dismember it.”

A cross section of delegates during the PDP national convention in Port Harcourt last year...the convention has continued to be a subject of litigation

Approval

However, the Sheriff faction described the Court of Appeal judgement in its favour as the confirmation of the people’s will. Deputy National Chairman to Sheriff, Mr. Cairo Ojougboh, was quoted as saying that despite the favourable verdict, the group was open to negotiation with Makarfi Ojougboh said, “To us the judgement is no victory, no vanquish. Irrespective of the judgement, our door is open to our brothers who, unfortunately, are in the other group. We promised not to victimise anybody but work together to reunite the party.”

He said Sheriff was ready to organise a

credible national convention of the party.

“The will of the masses is that the party should be handed over to the people and that is what Sheriff has come to do and he will never be distracted in achieving that,” Ojougboh stated, adding, “The PDP chairman, Sheriff, has directed me to assure our party members that the PDP National Working Committee would as soon as possible organise a national convention that would lead to the election of credible leaders of the party.”

Ojougboh also said that the Sheriff faction was prepared to meet Makarfi and his group at the Supreme Court if they chose to appeal. “All of us had earlier pledged to accept whatever is the outcome

of the court judgement and I hope the Makarfi-led group will still respect that.

“Should they say they will proceed to the Supreme court to appeal the judgement, we are also ready to meet at the apex court, but I expect them to respect their promise,” Ojougboh said.

The Supreme Court, it does seem, would be the final decider on the way forward for the erstwhile ruling party. From all indications, the choice for the Makarfi group would be either to remain in the PDP or roll out the much-talked-about alternative action plan, which is the announcement of a new party into which the structures of the PDP would be collapsed ahead of the 2019 election.

The Toddler Governor

Gideon Chibuike Amalaha

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his story is about the latest political odyssey of a certain clan in South-east of Nigeria. They are reputed to be the biggest autochthonous clan in Igbo land covering nine local government areas of their state. Before the 29th day of May 2015, they had never produced a governor in all of their history. So imagine the joy, celebration and collective hurrah when one of their own was sworn in as governor of their state on the 29th of May 2015. The future looked bright. Those who had fought in the ditches and trenches for many years for such a day to come were delirious with excitement. Many recalled with nostalgia, wistfulness and regret many of their heroes of the past who had fought tooth and nail to liberate their people but were not alive to witness the historic occasion. Many offered thanks to God for keeping them alive to see with their korokoro eyes, one of their sons taking the oath of office as governor of their state.

This delirium is now short-lived. Elders of the clan are now questioning the gods of the land and asking where they have gone wrong and why they are so cursed. But shame will not let them complain openly. They are putting up a brave face to the reality that they have been sold a dummy.

They cannot complain because God actually answered their prayers and gave them their wish. In their anxiety to have one of their own become governor for the first time in their history, they prayed to God that He could anoint a dog, a pig, onye ukwu aru, etc. as governor, provided it was a dog, pig or onye ukwu aru of their extraction.

Initially, it appeared that God in answering their prayers looked past their foibles and instead anointed a person of substance. This fellow has wonderful oratorical gifts and is such a powerful public speaker that even the greatest speakers ever known by mankind like the Barrack Obamas, Abraham Lincolns, Martin Luther Kings, John F. Kennedy’s, etc. look like green-horns compared to him. He knows how to say all the right things and can hold even the most hostile audience spell-bound and eating out of his hands: provided he manages to remain sober.

Unfortunately, it is now apparent that beautiful speeches are all there is to him and his people are gradually getting wise to that. The evidence is that he is a sniffling puppet and coward, unwilling to fight to extricate himself from the cabal which holds the fortunes of the state hostage. He is very happy to remain enslaved to the cabal which ensures he gets his monthly security votes so he can afford his choice drinks and little girls. With security votes of over half a billion naira per month, he has upgraded from his beloved Hennessy

V.S. brandy, which was what he could afford in his days as deputy general manager of a state agency to Hennessy Paradis Imperial, which cost N800, 000 a bottle and, of course, buy it in lorry loads. Drinking sprees and orgies with little polytechnic girls is the norm at his Government House Lodge. He has become insulated and no longer answers or returns calls/text messages, even of those who were his betters just a few short months ago. The itch for the fast life, bright lights, women and booze makes it difficult for him to plant his butt on his seat and attend to official government business for two days running. It is rare for him to spend a total of up to 10 days in any given month within his state, as he is constantly on the move. The serious business of governance irks him and files pile up unattended to. Even commissioners and heads of parastatals are blocked from having access to him to discuss important matters of state.

Within six months of taking office, our governor’s loveaffair with the elders, intellectuals and progressive elements of his clan has ended. He has deliberately kept them at arm’s length. The elite of his clan are nonplussed by this. When the cabal in charge of the state picked him from nowhere as their anointed successor to the office of governor, the elite of his clan found themselves between a rock and a hard place. His clan had many more qualified persons to be governor and who had expressed an interest to run. These were persons of the highest pedigree whose backgrounds and records of public service were exceptional. But insisting on any of them could mean losing out altogether and so presented with a historic opportunity, the elite of the clan came together, viciously suppressed the ambitions of all other members of their clan and created a massive political movement on the crest of which our governor rode to power, even though he had never been a part of his people’s historic struggles to attain the governorship of the state; he had never identified with his people’s ambitions. He was always choosing to accept appointments and crumbs from the tables of the lords of the other divide. He therefore rode to power on the crest of a wave he never helped create and did not understand.

Like all opportunists are wont to, he is now irritated by any reminders of his people’s struggles or indeed all those who represent such struggles. All those who laid the ground work for his journey to Government House have been brushed off.

Those who laid the foundation for his candidacy, contributed the take-off funds and other assets, have been cast aside. This is a man with deadened or absolutely no conscience. Indeed, his reputation for treachery, rewarding loyalty and support with hatred and traitorous plots is now cemented in the consciousness of citizens of his state.

He plays God. No atom of criticism or dissent is tolerated.

He is surrounded constantly and shielded by little minions

from his kindred who have reduced the serious business of governing a state to a childish affair. This motley group of little-men, who before now were mostly small-time 419ers, rabble-rousers, political jobbers and nonentities, are now his inner caucus and war-council. Important matters of state, particularly contracts, must pass through these minions who then take such proposals and memos along for the regular nightly drinking binge and once Mr. Governor is sufficiently inebriated, he is persuaded to append his signature. These minions, thus, bestride the state with impunity. Our character deficient and morally challenged governor holds court like a mere councillor and is always surrounded by men whose qualities are of that level. Mr. Governor is held hostage by three powerful forces from which he is unable to extricate himself: the clutches of the cabal who continue to hold the state in bondage; the cohort of minions from his kindred/local government area that form his inner circle and, of course, the almighty bottle.

His people bleed in their hearts as they look at what has become of the person on whose account they sacrificed more deserving and worthy candidates. These days when he arrives at public functions, the whispers, giggles and smirks in the audience are all about the salacious tales of his drunken escapades, even openly recounted by his inner staff who describe constant vomiting in his official cars and episodes of passing-out from too much booze. His actions have caused deep divisions and his once united and resolute clan is torn asunder ahead of the 2019 elections. His minions keep deceiving him that there is no cause for alarm and that at the appropriate time, his considerable powers as governor will whip everyone into line. How shocked he will be when the time comes and he discovers that the horse has already bolted from the barn.

There is now no clear pathway for a second term for him, as the political leaders who are on ground and who call the shots, deliver the votes and make things happen in his clan are highly aggrieved and just waiting to teach him a political lesson as soon as the opportunity arises. Other parts of the state outside his clan are no-go areas and already in the firm grip of the opposition parties. His trump-card to join the ruling party will turn to ash in his mouth as the leaders of that party view him with contempt; they will allow him join but will deny him control of the party structures and eventually the ticket of the party in 2019.

In many quarters, particularly in the presidency where intelligence and security apparatchik have videos and pictures of this governor in drunken, compromising and even nude states, he is a laughing stock, popularly called and derisively dismissed as the toddler governor.

––Amalaha, a public affairs analyst, writes from Aba.

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SPECIALREPORT

Can the Economic Recovery Plan Succeed?

David Edevbie

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he Federal Government through the Ministry of Budget and National Planning is currently in the process of developing a National Economic Recovery and Growth Plan (NERGP). The plan targets key economic and social issues for the coming three years. The plan sets out a comprehensive agenda on monetary and fiscal policies, economic diversification, competitiveness and growth, as well as social cohesion, job creation, improved governance and combating corruption. The plan presented to the state governors on 15th December 2016 sets out an ambitious GDP growth target of 7% by 2020. This comes against the backdrop of the Nigerian economic downturn in 2015 and subsequent recession in 2016 for the first time in over 20 years.

The questions are: Will the plan succeed? What will the implementation of the plan portend for the Nigerian economy and its people?

Whilst a welcome development, many would argue that it should have been in place much sooner. The NERGP proposes several initiatives to identify and harness potential revenue sources that will address the growing fiscal budget deficit. It sets out goals to reform varying economic sectors that will not only take the country out of recession but that will foster long term sustainable growth.

Other goals such as the desire to achieve better governance are of great significance and should be pursued aggressively. A related goal, is the reduction of public expenditures on what is considered a bloated and inefficient civil service. It is no secret, that many government ministries, departments and agencies (MDA’S) are over-staffed and that a process of staff rationalization is needed to reform and improve efficiencies within the civil service.

Equally important are the overdue plans to improve the management of the MDAs, the eradication of ghost workers and the implementation of e-government initiatives. Over time, these changes should lead to a much-needed redirection of funds away from recurrent to capital expenditure which is required at all levels of governance.

The NERGP anti-corruption and transparency plans are also encouraging. Amongst other measures, the NERGP envisages the establishment of whistle-blower hotlines, incentivizing the reporting of corrupt officials and enhancing centralized identity management. If implemented successfully, these initiatives will be incredibly beneficial. However, the Federal Government must also show a real commitment to addressing corruption issues in an unbiased and non-partisan manner with clearly defined and measurable targets.

An effective whistle-blowing policy can only be sustained when protection of whistle blowers is institutionalized by enactment of relevant laws. The US had a Whistle-Blower Protection Act, enacted in 1989 with similar laws enforced in Japan, South Korea, Iceland, South Africa, Brazil, and most recently, India.

Therefore, a bill to this effect must be submitted to the National Assembly and given expeditious priority in hearings, debates and eventual passage into an Act. Another positive objective of the NERGP is the desire to take a decision to move from the current fixed exchange rate regime to a regime of flexible exchange rates. While this is likely to improve Nigeria’s export competitiveness, it will not be without significant costs. In the short and medium term, it is likely to lead to a further significant devaluation of the Naira, which will worsen the already rampant inflation and place further stress on the import-dependent and consumption-oriented Nigerian economy.

Low productivity in much of Nigeria’s non-oil export sectors makes it difficult for Nigeria to benefit from a further devaluation of its national currency at this time, so any move to a flexible exchange rate regime must be carefully managed. Undoubtedly, this is an inevitable outcome of the faulty foreign exchange management policies pursued over the last 18 months.

The earlier decision to delay devaluing the naira coupled with an opaque foreign exchange rationing system made a bad economic situation even worse. Over the period in question, many businesses struggled to secure foreign exchange to pay for essential imports, leading to a cooling effect on the entire economy that ultimately led to its contraction. This was further exacerbated by uncertainties in the market that impacted

Edevbie

negatively on foreign investment flows resulting in net outflows.

In the light of current macroeconomic instability, the planned adjustment of the foreign exchange policy needs to be supported with the elimination of the rationing system that distorts the market while fiscal and monetary policies must be synchronized to rein in inflation that hit 18.72 per cent (year-on-year) in January 2017. Monetary tightening and bringing inflation under control are now absolute prerequisites to sending the exchange rate into full float. In addition, the current strategy adopted by CBN to rebuild the country’s foreign exchange reserves to $40bn is a step in the right direction as this will undoubtedly further boost investors’ confidence in the Nigerian economy and the country’s ability to meet its foreign obligations.

A worthy initiative is the proposal to establish a Delivery Unit to drive implementation of the NERGP. Historical evidence suggests that implementation of major reforms is better served with a small and efficient task force, staffed with the best professionals in their fields. It is important that staffing of the task force should be established on merit and not on a “job for the boys” basis.

The unit should submit regular reports to the President and spearhead the reform process by streamlining the implementation of the plan initiatives by the MDAs. Mishandling of this critical step could stall and even derail the entire reform process.

The NERGP proposes the expansion of social safety net programs. As Nigeria currently ranks low on poverty and inequality, expanding the social safety net is an important goal in addressing this problem. The plan proposes conditional cash transfers (CCT’s) as a major tool of achieving this goal. CCTs have worked well in countries in Latin America, Asia and even in Africa (Ghana, Malawi, Uganda etc.). However, the peculiarities of Nigeria’s demography, the determination of a meaningful amount derived from empirical study rather than political rhetoric and the costs of these transfers need to be taken into consideration and weighed against the possible benefits of the program.

Another positive objective of the NERGP is the desire to take a decision to move from the current fixed exchange rate regime to a regime of flexible exchange rates. While this is likely to improve Nigeria’s export competitiveness, it will not be without significant costs. In the short and medium term, it is likely to lead to a further significant devaluation of the Naira, which will worsen the already rampant inflation and place further stress on the import-dependent and consumption-oriented Nigerian economy

The NERGP goal of increasing customs and excise revenues by reducing leakages is desirable. The introduction of a single window for duty collection has proved effective in neighboring countries such as Ghana. However, implementing this reform will require strong political will should it be met with resistance from devious importers and colluding customs officials trying to circumvent payment of full and accurate duties. The policy may also have the unintended effect of raising the costs of customs clearance, which will affect the competitiveness of Nigerian ports.

It is therefore critical that the government keeps track of achievements in the reduction in known leakages such as importation of vehicles through land borders. In these circumstances, if the Nigerian Customs Service is able to indicate and make comparison in their volume of car imports and revenue collection on the imports through the ports alone in Q1 2017 as compared with Q1 2016, this could provide a good indication on the policy’s ability to address revenue leakage in duty collection. In this regard, this can then serve as a template for further policy direction, especially in clearly identifying that all possible revenue leakages in duty collection are clearly identified, plugged and documented through appropriate policies and processes.

The NERGP also targets agricultural transformation and the acceleration of the Nigeria Industrial Revolution Plan (NIRP) with a focus on agro-processing and industrial hubs. Nigeria has a high potential for agricultural output but current agricultural productivity is very low. Intensification of agricultural output through increased early and effective distribution of farm inputs such as fertilizers and provision of better extension programs should be the key to boosting productivity.

However, there should be major reforms in land and property rights that are critical to boosting the low agricultural productivity.

Experts at the 11th African Economic Conference held in Abuja in December 2016, identified how improvements could be made in this area by providing improved land rights to women since they contribute massively to agricultural productivity in many nations such as Nigeria. Land reforms should also move towards enabling land owned by smallholder farmers to be used as assets that can be collateralized in securing credit.

Similarly, the plan to further boost agricultural output via construction of major agri-processing hubs should lead to improvement in the agriculture value chain and give more value for farm produce to the farmers. However, recent studies show that it is far more difficult to promote clusters in developing countries than in developed ones. In addition, establishing more export-processing zones may not be a desirable pathway (see http://www.fao.org/docrep/012/i1560e/i1560e.pdf).

In addition to significantly eroding tax revenues derived from agri-business, they may block the advancement of a sizeable local market for processed agricultural products. It should be recognized that there is a significant local market for processed agricultural products in Nigeria. So, the focus for creation of these agro-processing and industrial hubs should be not only for the

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SPECIALREPORT t $"/ 5)& &$0/0.*$ 3&$07&3: 1-"/ 46$$&&% export market but the local market as well.

When it comes to policy initiatives, the trend in Nigeria has been for new governments to jettison the initiatives of previous administrations, be they good or bad. This plan to improve agricultural output is one example where a departure from this practice must be made. The Federal Government should be able to harness the positive aspects of the truncated land reform program of the Yar’Adua administration and the agricultural transformation program of the Goodluck Jonathan administration and include these as part of the agricultural growth plan of the NERGP. There are aspects of the NERGP that have good intentions but lack specifics and in my opinion, require further work before implementation. For example, the plan to improve Nigeria’s rank in Ease of Doing Business from 169 (2017) to the top 100 by 2020 needs to be articulated with better clarity. Though Nigeria needs to improve its attractiveness to investors, the plan is devoid of specifics on how it intends to achieve this goal. Ease of Doing Business initiatives have been implemented in Lagos and Delta States with encouraging results and these programs can provide a template, with specific targets and measurable milestones, on which the Federal Government can articulate its Ease of Doing Business initiative to investors, policy makers, development partners and the Nigerian public.

An aeriel view of Lagos Central Business District Another good NERGP goal that currently appears to lack specifics is the desire to leverage investors’ property rights are protected. public-private partnerships (PPPs) to invest in infrastructure Previous privatization rounds in Nigeria have been plagued projects. Attracting private capital to finance critical infrastructure by allegations of corruption, asset undervaluation, questionable projects is important to stabilize the country’s budget and sales, and lack of due process. Not surprisingly, the last attempt to improve economic growth. However, the plan needs to elaborate sell the refineries was met with stiff resistance from the oil sector clearly how this will be done to stimulate private interest in PPP labor unions ironically supported by the current ruling party APC infrastructure investment. There must be a demonstrable will when it was in opposition. If the Federal government is serious to respect the sanctity of contracts entered into by government. about privatization of the refineries this time around, it must Unguarded statements from public officers in both the executive convince Nigerians of its merits with clear facts. In addition, the and legislative arms threatening to revise or cancel the privatizaFederal Government must provide timelines for the passage of tion programme of the power sector concluded by the previous the Petroleum Industry Bill as a major reform tool for the oil and government send the wrong messages to potential investors, gas industry as a foundation for assets sales in that sector. making the PPP initiatives risky and uncertain.

The NERGP failure to fully address the growing fiscal The plans to improve capital expenditure spend through deficit and the fact that its implementation is likely to lead to an portfolio and project optimization is a worthy goal, but is not accumulation of foreign debt is cause for concern. The plan itself clearly explained. Optimizing capital expenditures by prioritizing relies heavily on revenues from increased oil production as a key projects, balancing risk and return, and optimizing the design of means of funding a projected rising budget deficit in 2017 – 2020. projects is not unreasonable, but requires more specificity. It is also This could work if oil prices rise over the period and the security not clear whether prioritization of capital expenditure projects will situation in the Niger Delta improves-both are big IF’s at the be based on a set of objective and transparent criteria or as usual moment. be based on opaque political considerations. For instance, when The acting President’s recent visits to the Niger Delta States is considering the cry of marginalization by certain geo-political an encouraging start but is not a replacement for a comprehensive zones when it comes to capital expenditure projects, how does plan. Even if the Niger Delta crisis is resolved and increased the Federal government intend to achieve a geo-political balance crude oil production is achieved, there is always the possibility of in the implementation of its capital expenditure spending? another global crash in crude prices, which will erode any gains Another goal that could be difficult to realize is the promotion realized. Oil prices are notoriously volatile and the fundamentals of the ICT sector and creative industries. ICT has produced the driving crude oil prices have been altered significantly in recent most significant productivity gains over the last half century times. The United States is currently pumping nine million and is rightly viewed as one of the engines of growth for many barrels of crude oil into the international market and the new now-developed economies. To showcase the value of ICT to a US President Donald Trump has not hidden his desire to see country’s GDP, I take the case of India where ICT contribution key pipeline and exploration projects such as the Dakota Access to GDP has increased from 1.2% in 1998 to 7.5% as at 2012.

Pipeline project implemented. In a world where the dynamics According to NASSCOM, sector aggregated revenues from and fundamentals of the crude oil market have changed and ICT in India stood at $147billion in 2015, with $99billion of this where Nigeria does not assert control on global crude oil prices, amount coming from ICT exports. Strengthening the ICT sector the crude oil production and revenue targets on which the in Nigeria can kick-start the economy. The idea of investing in the NERGP is based might be challenging to achieve. development and deepening of broadband Internet in Nigeria is The NERGP does propose a few good initiatives to part fund commendable. the fiscal gap. For example, an increase in the value added tax However, this policy requires major investment in human (VAT) rate to 10% for consumer goods and 15% for luxury goods capital (IT experts) and significant reforms in the education sector is envisaged from 2018. VAT remains one of the easiest types of to increase aggregate investments in the sector. This may be taxes to collect and is less prone to evasion. The negative aspect difficult to implement over the short to medium term and it will of this measure is that it will disproportionally hit the poor and require proper consultation with industry experts to move this this is problematic given that Nigeria ranks quite low on income initiative forward. equality indices. The Federal Government will struggle to explain Other goals that appear to be either unclear, overly optimistic a doubling/tripling of VAT to a Nigerian populace already or require specifics, include the plans to (i) increase independent groaning under the current inflation and economic recession. Yet, revenues of MDAs (ii) boost direct job creation through the the government has no choice but to engage the public on any public works programs (iii) reduce the skills gap to improve the VAT increases in order to avoid provoking unrest. employability of labor (iv) implement key environmental projects The NERGP measures to optimize Nigeria’s debt strategy and (v) accelerate progress on the Presidential Committee on may need a rethink. The proposed debt management initiatives the North East initiative (PCNI) and the implementation of Post could backfire and lead to an accumulation of significant debt Niger Delta Amnesty programs. while poorly managing existing debt obligations. For example, A welcome though arguably contentious NERGP initiative the NERGP proposes optimizing the country’s debt strategy is the goal of reducing government ownership stakes in oil by rebalancing its external debt portfolio and issuing N2 trillion and non-oil assets. A key objective of the plan is to reduce bonds for contractors’ debts. However, the country’s ability to borgovernment share in joint ventures by 5 percent and divesting row on the international markets may be hampered by Nigeria’s other Federal Government owned assets such as refineries and declining ratings from international credit agencies, although the pipelines. Though privatization of state assets is an economiprospects look brighter following the apparently successful but cally sound goal for many countries, it is important that the relatively small $1bn Eurobond fund raising and the gradual rise privatization process is perceived to be clear and transparent. It is in the country’s foreign reserves. also important to set realistic privatization goals and ensure that The NERGP proposals to fix the power problem once and for

all by increasing supply to 10GW by 2019 appears to be almost as comically optimistic as President Buhari’s campaign pledge regarding the exchange rate made in the run-up to the 2015 elections. The problems bedeviling power supply in Nigeria include inefficient and financially unviable electric utilities, inadequate transmission capacity, tariffs that do not reflect generation, transmission and distribution costs, massive electricity technical and commercial losses and theft.

While the NERGP does propose some good steps towards improving the quality of electric power supply, such as introducing cost-reflective electricity tariffs for electricity and restructuring utilities’ debt, it is hard to see how it will achieve a complete turn around in the power sector in just two to three years without addressing transmission capacity limitations!

The Federal Government should resist the urge to engage in spending on potentially wasteful projects such as operationalizing the Family Home Fund with N1 trillion to stimulate rapid expansion of the construction industry. While improved access to housing is a desirable goal, establishing a multimillion-dollar housing fund, in a country where the construction industry is notoriously inefficient may result in a waste of public resources.

The housing and construction industry employs at least 22 different professions and industry stakeholders have been seeking government attention to implement strategies already prepared to grow Nigeria’s construction industry.

Rather than try to solve the housing problem by throwing money at it, engagement with relevant stakeholders and steadfast implementation of resolutions of such engagements may prove more productive. There is also little need to create a Development Bank of Nigeria (DBN), as there are already several development finance institutions (DFIs) in place. Instead, the existing DFIs should be restructured for greater efficiency and service delivery.

The rationalized DFIs should also work better with micro-finance institutions to improve access to finance at the local level.

In conclusion, there has been a groundswell of criticism both at home and abroad of the APC led government’s slow response to the prevailing economic crisis which has led to a massive devaluation of the Naira, increase in inflation, massive job losses, growing unemployment, and until recently, non-payment of salaries in both the public and private sectors. The lack of clarity about the vision and direction of the Federal Government’s economic policy has not been good for Nigeria. The Federal Government should be applauded for at last signaling through the NERGP, its determination to take the economy out of recession and place it on a growth trajectory by committing to a clearly defined economic reform process.

The plan seeks to reset expectations and it should be praised for seeking to combat corruption directly and strengthen public services – both of which are major obstacles to sustainable growth.

While the plan contains many good goals, it contains a few elements that are either of uncertain quality, overly ambitious or devoid of specifics. The NERGP also relies heavily on oil revenue as a major driver and though this is risky, it is probably inevitable.

Unarguably, it will lead to an increase in foreign debt and though this is not necessarily harmful because it is mainly directed towards much needed infrastructure development, it is still a major concern for Nigerians given past experiences and previous chronic inefficiency in public sector management of expenditures.

––Edevbie is the Commissioner for Finance Delta State and former Principal Secretary to the late President Umaru Musa Yar’Adua.

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PERSPECTIVE

As Senate, Sultan, Adeboye Score Ugwuanyi High Louis Amoke

R

ecently, members of the Senate Committee on State and Local Government Administration led by its chairman, Senator Abdullahi Gumel, were in Enugu State on an oversight function on the utilisation of bailout funds released to states by the federal government. The committee, after scrutinising the Enugu State’s record on the above subject matter, rated Governor Ifeanyi Ugwuanyi as the best governor in the utilisation of the federal government’s bailout funds in the country.

The committee chairman applauded the administrative ingenuity of the governor in managing the funds, describing it as “impressive and in line with the principles of accountability.”

He noted that Ugwuanyi was “transparent and prudent in the use of the funds in a way the committee had not experienced anywhere else.”

While appreciating the peaceful atmosphere in the state and the innovation applied by the state government in the management of the funds, Gumel urged other states to take a cue from Enugu. According to him, “We have gone through the books. And as far as the bailout funds are concerned, everything is in order. In fact, Enugu State has even gone further because we haven’t seen this in any other state.

“They gave us the list of all the beneficiaries as it was prepared by the banks. This is an innovation and we are reflecting it in our report. We are not doing it because Governor Ugwuanyi was our colleague; we are doing it because we have seen with our eyes.”

Prior to the presentation of the report, the committee had earlier on arrival paid a courtesy visit to the governor at Government House, Enugu. Addressing the senators, Ugwuanyi noted that their legislative function was a very important assignment that promoted accountability and transparency in the management of public funds. He informed them that the N4.207 billion bailout fund his administration received was judiciously deployed for the purposes of liquidating the outstanding pensions and subvention to parastatals, agencies and departments.

Ugwuanyi stated, “Distinguished senators, I am happy to announce that we successfully utilised the funds for the stated purposes, as you would confirm from the records (to be) made available to you by the state Ministry of Finance.

You will also be furnished with the details of how we applied other funds released to the state by the federal government within the life of this administration.”

He commended the federal government for the “bold and timely initiative” in providing states with bailout funds for use in addressing critical issues of development. He equally used the opportunity to further appeal for the refund of over N22 billion the state government had spent on the reconstruction and rehabilitation of some federal roads in the state.

The senate committee thanked the governor for receiving them and applauded his administration’s achievements, especially in the areas of good governance, infrastructural development and payment of workers’ salaries. They said the visit was in furtherance of their legislative oversight duties to ensure transparency and accountability.

Ugwuanyi has, undoubtedly, exceeded all expectations in the face of the daunting economic challenges in the country. He remains committed to fulfilling his promises to the people of the state in line with the manifesto of the Peoples Democratic Party. Against all odds, the governor has through his administration’s peace and grassroots development initiatives brought good governance and massive infrastructural development to the doorsteps of the people of the state, especially the rural dwellers.

With the regular payment of workers’ salaries, display of commitment to accountability, transparency and prudent management of the state’s lean resources, simultaneous execution of 35 development projects across the 17 local government areas, among other critical infrastructure in the state, it is obvious that the senate’s verdict on the governor is a valid endorsement of his visionary leadership and managerial prowess.

Ugwuanyi It is noteworthy that the verdict coincides with the recent award conferred on the governor by The Authority Newspapers as “The Outstanding Governor of the Year 2016 on Economic Development and Infrastructure.”

While presenting the notification letter for the award to the governor at the Government House, Enugu, the managing director of the Authority Newspapers, Mr. Madu Onuorah, noted, “The rate of development is outstanding, especially with regards to infrastructure, in spite of the fact that Enugu State is not an oil producing state and, therefore, gets little from the Federation Account. And you don’t have cluster of businesses and major urban centres, like some surrounding states, to tax in order to lift up the state’s internally generated revenue.

It is still a surprise that with the development going on here, Enugu is one of the few states in the Nigeria to pay workers’ salaries as and when due, and as I understand, by the 25th of every month.

“A trip round Enugu State shows your indelible imprints. It is all too glaring to be ignored. You’re not a man who goes for half measures. You’re a man whom Nigeria needs at a time like this as you are the new face of the Nigerian spirit that won’t give up even in the face of challenges but opt for a noiseless but massive development of the state’s infrastructure.”

Ugwuanyi has also in recent times received accolades from other notable personalities in the country, including Christian and Muslim leaders, in recognition of his sterling performance and uncommon approach to governance.

For instance, the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, during his official visit to Enugu State described Ugwuanyi as a populist leader, noting that the level of popularity he enjoys from the people of the state, including non-indigenes, is outstanding and commendable.

According to the Sultan, “I am excited that 95 per cent of Muslims in Enugu State are in support of Governor Ugwuanyi and what he is doing to promote peace, unity, security and good governance in the state. My observation since I visited this state shows that Governor Ugwuanyi is so much liked by the people because of his humble disposition and commitment to their wellbeing and good governance.”

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, also applauded the governor’s vision, humility and commitment to God in coming to the University of Nigeria Nsukka to welcome him back to the university to receive an honorary degree of Doctor of Divinity (Hon. DD).

According to Adeboye, “I was delighted to notice during our procession to this venue that the governor who has come to welcome me is a very popular one.”

Ugwuanyi is treading on the path of vision and greatness. He should be encouraged to take Enugu State even higher. Enugu State is truly in the hands of God! ––Amoke writes from Enugu.

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INFOGRAPHIC

FEBRUARY 19, 2017 ˾ THISDAY, THE SUNDAY NEWSPAPER ADVERTISEMENT

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ ͹΁˜ ͺ͸͹Ϳ

NEWSXTRA

PROMOTING LITERACY R-L: Deputy Director, Central Bank of Nigeria (CBN) and Head, Project Administration Team,

National Housing Finance Programme (NHFP), Mr. Adedeji Adesemoye; Director, Other Financial Institutions Supervision, CBN representing the Central Bank Governor, Mrs. Tokunbo Martins, and Managing Director, Blake & Harper Nigeria Limited, Media Consultants, Daniel Kure at the contract signing of the World Bank supported national mass literacy campaign of the NHFP in Abuja...recently

SUSTAINABILITY FORUM L-R: Head of Governance, WaterAid Nigeria, Tolani Busari; Corporate Relations Director, Guinness Nigeria

Plc, Sesan Sobowale; Head, Sustainability Centre, Lagos Business School, Dr. Ijeoma Nwagwu, and Global Sustainable Development Director, Diageo Plc, David Croft at the launch of Guinness Nigeria 2016 Sustainability Report at the Ikeja Brewery in Lagos...recently PHOTO: Abiiodun Ajala

50 Senators Brainstorm in A’Ibom on Problems Facing Petroleum Sector t PIB to become law within first quarter of 2017 Okon Bassey in Uyo

No fewer than 50 Senators weekend gathered in Uyo, Akwa Ibom State capital on a four-day retreat to brain-storm on the problems rocking the petroleum sector of the nation’s economy.

The Senators are meeting at Le-Meridien and Golf Resort, Uyo with participants drawn from the National Assembly Joint Committees on Petroleum Upstream, Downstream as well as Gas. Speaking at the retreat, the Chairman Senate Committee

on Gas, Senator Bassey Albert Akpan raised Nigerians’ hope that the Petroleum Industry Bill (PIB) will be passed into law by the national assembly within the first quarter of this year Senator Akpan who represents Akwa Ibom North-east senatorial district in the Senate maintained that the PIB would lay a stronger foundation of a greater economic template for the country.

According to him, the Eighth Senate would continue to ensure that the welfare of Nigerians remains paramount in the leg-

islative strides of the lawmakers.

He explained that the retreat in Uyo was timely and in line with the projections of the benefits of the 2017 Budget and urged Nigerians to remain steadfast in the strides of the Senate.

The retreat, he said, is again coming on the heels of recommendations made by the National Assembly Technical Consultant on several challenges facing the oil sector, stressing that the committee was in the state to discuss issues that will focus on effective and institutional governance of the Nigerian petroleum

industry.

Furthermore, he said with the retreat all issues that have impeded the passage of the PIB

by National Assembly would be resolved to ensure its quick passage into law.

The Akwa Ibom State Governor, Mr. Udom Emmanuel who declared the retreat open acknowledged the significance of the gathering, saying the Senators coming together to brainstorm on the numerous challenges confronting the petroleum sector was timely.

Boko Haram: Madagali Youths Blame Stakeholders’ Influence on Military for Persistent Insurgency Daji Sani in Yola

Youths of Madagali Local Government Area in Adamawa state have ascribed the persistence Boko Haram attacks in their areas to the undue influence exerted by some stakeholders on the military authorities to release some members of the terrorist group who were identified by their victims.

The youth leader, Alhaji Dauda Usman, who spoke on behalf of the youths at the flag-off distribution of relief materials by the Presidential Committee On

the North-east Initiative (PCNI) in Gulak town of Madagali LGA yesterday, lamented that if the activities of these stakeholders are not curtailed, the Boko Haram insurgency will continue to persist in the area.

According to him, the insurgents have continued to enjoy cover from prominent personalities because whenever they are identified by their victims and were arrested and handed over to the military after some time they are released and sent back into society.

“You will see them walking

freely, we know these people but we are afraid to mention names because they might come after you” he said.

He also revealed that the hunters manning the areas complained that sometimes when they go into the bush they always bring back empty bags used to bring relief materials to Madagali.

He said the development is pathetic and called on all sons and daughters of Madagali and government to come together and fight the insurgency to finish, adding that the insurgents have left the

dreaded Sambisa forest and have their enclaves in Madagali.

Also speaking at the event, the Chairman of Madagali, Alhaji Mohammed Yusuf, appreciated PCNI for the relief materials and promised that distribution would be done judiciously without religious, political or tribal sentiments.

Yusuf said the relief materials would go a long way to cushion the hardship faced by the citizens due to the persistence of insecurity challenges that had disallowed his people from farming for more than three years now.

Carter Centre Project on Eliminating River Blindness in Nigeria Makes Shortlist for MacArthur $100m Grant Abimbola Akosile

Eight bold solutions to critical social problems were recently named semi-finalists in 100&Change, a global competition for a single $100 million grant from the John D. and Catherine T. MacArthur Foundation.

The proposals address challenges ranging from eliminating needless blindness to educating children displaced by conflict, in places from Nigeria to Nepal to the United States.

“These eight ambitious proposals exemplify the passion, range, and creativity of the hundreds of applications,” said MacArthur President Julia Stasch. “We hope that the competition inspires individuals and organisations to be bold and think big, because solutions are possible.”

The eight proposals include Catholic Relief Services: Changing how society cares for children in orphanages; Himalayan Cataract: Eliminating needless

blindness in Nepal, Ethiopia, and Ghana; Human Diagnosis Project: Providing virtual access to specialist medical care for underserved U.S. patients; HarvestPlus: Eliminating hidden hunger in Africa by fortifying staple crops, and The Carter Center: Eliminating river blindness in Nigeria.

Others include Internet Archive: Providing libraries and learners free digital access to four million books; Sesame Workshop and International Rescue Committee: Educating children

displaced by conflict and persecution, and Rice University: Improving newborn survival in Africa.

According to a release issued

by MacArthur, “100&Change is a unique competition for organisations worldwide to submit proposals promising real progress toward solving a critical problem of our time in any field or any location. There was robust participation: 7,069 competition registrants submitted 1,904 proposals.

Nigerian Breweries Lauds Ugwuanyi on 9th Mile Rehabilitation The outgoing manager of Nigerian Breweries Plc plant at Ama, Enugu, Mrs. Ethel Emma Uche, has described Governor Ifeanyi Ugwuanyi’s infrastructural upgrade across Enugu State as commendable.

Uche, who made the remark during a courtesy call at Government House, Enugu, praised the governor for his vision behind the rehabilitation of existing roads and construction of multiple byepass in the area which, she noted, have both helped in decongesting the traffic gridlock at the popular 9th Mile axis.

The former manager who used the opportunity to introduce her successor, Mr. Peter Ani, and other management team of the company, also congratulated the governor on the Court of Appeal’s affirmation of his victory in the Peoples’ Democratic Party gubernatorial primary, saying it’s an indication that he is a man of the people who governs with the fear of God. “I will also like to thank you for creating an enabling environment for Ama Breweries to thrive which

shows that you have the interest of the company at heart,” she noted.

Uche explained that the company in return would continue to support the state via its numerous corporate and social responsibility projects as well as in the immediate host community.

Responding, Governor Ugwuanyi re-assured his guests of his administration’s desire to strengthen the cordial relationship existing between the company and the state government, reiterating his government’s willingness to partner the company in any area that will bring further development in the state.

The governor observed that since the company’s establishment in 2003, it had remained a close ally of the state government in areas of economic development, employment creation as well as corporate social responsibility.

“Wearegratefulforthesegestures andusethisgreatoccasiontoreassure you of our desire to strengthen the very cordial relationship that exists between the company and the state government”,hesaid.

50,000 Youths March, Pray for Buhari in Daura No fewer than 50,000 youths in Daura, Daura Local Government Area in Katsina state yesterday held a rally in solidarity with the administration of President Muhammadu Buhari.

The youths did the rally under the auspices of an NGO, “Buhari Youth Congress for Change.”

Daura is the hometown of the Nigerian leader.

Alhaji Musa Badamasi, the secretary of the NGO, told the News Agency of Nigeria (NAN) that the rally was accompanied with marathon prayer. He said the youth found it necessary to organise the rally to make their position known on the style of governance

by Buhari.

Badamasi described most of the speculations regarding the health of Buhari as nothing but calculated attempts to tarnish the image of his administration. He assured that the NGOwouldcontinuetorallyround Buhari to enable him continue the good work he had been doing for the nation.

Chairman of the All Progressives Congress (APC) chapter in the local government, Alhaji Sani Altine, commended the youths for organising the rally and prayed for the safe return of the president.

He said the chapter would continue to support the policies and programmes of the Federal Government.

Alhaji Rabiu Fada, described Buhari as a God-sent, especially considering the effort of his administration to arrest the security challenges in the North-east. He said the unnecessary displacement and destruction of lives and property in the North-east had drastically reduced, stressing that the president deserves commendation.

AlhajiMusaAbdullahi,theDaura Zonal Vice-Chairman of APC also commended the youth and assuredthem of supportof theparty whenever the need arose. He said Buhari was in good health, stressing that “last week, we were in contact with him through telephone.”

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SUNDAYSPORTS

Edited by Demola Ojo Email demola.ojo@thisdaylive.com

Super Eagles to Play Senegal, Burkina Faso in London

T

he Nigeria Football Federation has concluded plans for friendly games for the Super Eagles as they prepare for the 2019 Africa Cup of Nations qualifiers in June and the resumption of the 2018 Fifa World Cup qualifiers in

August.

The Eagles will plat the Teranga Lions of Senegal in London on March 23 and then take on Burkina Faso four days later as they maximise the Fifa window next month.

Senegal, who lost in the quarterfinal at the 2017 Africa Cup of Nations and Burkina Faso who made the semifinals will provide a stern test for Gernot Rohr’s men who failed to qualify for the competition. To date, Nigeria haven’t played any games in 2017.

Super Eagles Media Officer Toyin Ibitoye told supersport.com that the friendly games in the March window have been finalised after a bit of concern on which teams the Eagles will face. “Both games will be in London and it will provide us with a stern test as we prepare for the Africa Cup of Nations and World Cup qualifiers. We had a few teams in mind but we have finally received confirmation for Senegal and Burkina Faso.

The Ghana deal didn’t work presumably because they don’t have a coach now after Avram Grant resigned. “But all has been settled now, Senegal

Nigeria will face stern tests during thr next international break in March and Burkina Faso will be the two teams the Eagles will face in the March Fifa window,� he added.

Nigeria are top of Group B of the 2018 Fifa World Cup qualifiers with six points from two matches. The Super Eagles will

also do battle with South Africa, Libya and Seychelles for a spot at the 2019 Africa Cup of Nations.

CAF Confederation Cup: Ubah Urges Anambra Warriors to Beat Al-Masry Anayo Okolie

Pedro celebrates after scoring the opener for Chelsea against Wolves

Dr. Patrick Ifeanyi Ubah has urged his club FC Ifeanyi Ubah to beat their opponent Al-Masry Sc in their second leg CAF Confederation Cup match taking place today.

Ubah, in a statement made available by his Special Adviser on Media, challenged the team to repeat their dominance over Al-Masry Sc even in their home like they did during their first leg at FC Ifeanyi Ubah Stadium Nnewi/Ozubulu in Anambra State, Nigeria.

According to him, “If they can come to our home and play under our hot weather condition, we can also play in their cold region and defeat them. Everybody knows that from the first leg, you are a better side and we expect you to beat them here.�

Ubah went on to remind the team that he denied himself luxury just to be

Lincoln, Millwall Claim Famous FA Cup Upsets Non-league Lincoln City and third-tier Millwall struck late winners as Burnley and Premier League champions Leicester City were humbled on a historic day in the FA Cup yesterday.

Sean Raggett scored an 89th-minute header as Lincoln, who reside in the fifth-tier National League, stunned Burnley 1-0 in the fifth round in one of the competition’s biggest upsets.

Ten-man Millwall, seventh in League One, claimed a third top-flight scalp in this season’s tournament by dramatically sinking ailing Leicester 1-0 via a 90th-minute goal by Shaun Cummings. “I’m lost for words. It’s mad. I can’t believe it!� Lincoln’s match-winner Raggett, 23, told BT Sport. “Crazy. A non-league side in the quarterfinals, in modern football. It’s unheard of.�Second-half goals by Pedro and Diego Costa earned Premier League leaders Chelsea a 2-0 win at second-tier Wolverhampton Wanderers, conquerors of Liverpool in the previous round.

But Pep Guardiola’s Manchester City face an unwanted replay after drawing 0-0 at Championship high-fliers Huddersfield Town, three days out from their Champions League

last 16 showdown with Monaco. “It is not frustrating,� Guardiola said. “It was a tough game against one of the best teams in the Championship.� Eighty-one places below Burnley in the English football pyramid, Lincoln prevailed at Turf Moor when centreback Raggett squeezed a header over the line following a late corner.

East Midlands club Lincoln, nicknamed ‘The Imps’, become the first non-league team to reach the FA Cup’s last eight since Queens Park Rangers in 1914.They are the eighth side from below England’s four fully professional divisions to have beaten top-flight opposition since World War II and only the second to have done so since 1989. “We said it was a one-in-a-100 chance and thankfully we got that opportunity,� said Lincoln manager Danny Cowley. “The last eight of the FA Cup sounds pretty good. We work hard on our corners and our free-kicks and we are mightily proud of the players.�

Burnley drew 1-1 at home to Chelsea

last weekend and have beaten Liverpool and Leicester on home turf this season.

Lincoln join Hereford United, who toppled Newcastle United in 1972, and Sutton United, conquerors of Coventry City in 1989, among the ranks of the FA Cup’s non-league giant-killers.

Sutton, also of the National League, will hope to pull off another famous upset when they host Arsenal tomorrow.

Burnley manager Sean Dyche made six changes and it was quickly clear that his side were in for a scrap as Lincoln’s Nathan Arnold squared for Jack Muldoon to sweep a first-time shot over the bar.

The home side procured the clearer chances thereafter, but could not take them, and with a replay beckoning Lincoln’s moment of history arrived.

Sam Habergham’s deep corner from the right was headed back across goal by Lincoln captain Luke Waterfall and Raggett met it with a header that Burnley goalkeeper Tom Heaton could not keep out. “They used everything they needed to use,� Dyche told the BBC.

with them in Cairo, challenging them to ensure a win in today’s match. “I have denied myself all luxury just to be with you people, I am here to turbocharge you guys to glory so go and do us proud by defeating Al-Masry at Ismaila.�

Sundowns Defeat Mazembe, Win CAF Super Cup A late penalty from Ricardo Nascimento saw Mamelodi Sundowns defeat TP Mazembe 1-0 in Pretoria yesterday evening to win the CAF Super Cup. The South Africans dominated the majority of the annual exhibition match and were worthy winners, adding the Super Cup trophy to the Champions League they won in 2016 and establishing themselves as the preeminent club on the continent right now.

Sundowns generally enjoyed the majority of ball possession in the first half, but it was only in the final minutes before the break that they really looked like capitalising on their dominance. From the start of the second half, the Brazilians were even more dominant and created a string of openings from which they should have broken the deadlock. However, the likes of Hlompho Kekana, Laffor and Tiyani Mabunda were all guilty of spurning good opportunities.

It seemed only a matter of time until ‘Downs broke through and the Ravens’ defence finally cracked with just under 10 minutes to play, as Kekana was clumsily brought down in the box to win a penalty. Defender Ricardo Nascimento coolly converted from the spot to claim the game’s decisive goal in the 83rd minute.

EMIRATES FA CUP RESULTS Burnley Huddersfield Middlesbrough Millwall Wolves

0–1 0–0 3–2 1–0 0–2

Lincoln Man City Oxford United Leicester City Chelsea

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T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž ÍŻÍˇËœ Í°ÍŽÍŻÍľ

High Life

͎͎͜;ʹ͜͜ͳ;ͳͰ

...Amazing lifestyles of Nigeria’s rich and famous

True Love Actually ...As Wife Celebrates Former Taraba Governor, Danbaba Suntai, on Valentine’s Day

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any a woman would love to peel, and then crush the shell of her love like a garlic clove. That shell is her man. Some would love to grate o their high heels using their matrimony as a pumice stone, and then prance at-footed on the smithereens of wedlock like an infant troll or the belle of an ape.

To these colourful characters, marriage manifests as a prison house from which they can hardly wait to break out; more often than not, they consider their husbands worst personiďŹ cation of the hateful jailer. But that is one class of women.

Through the maze and matrix of matrimony subsists a more pleasant class and breed of women characterized by dashing womanhood and legendary character reminiscent of the nurturer women of ancient Africa and Rome.

These women like the medieval vestal virgins cater to the spiritual, emotional and mannish needs and insecurities of their men in deliberate bid to bring about the best fortune and chances for them. And they never rest on their oars, inspiring, supporting and wishing the best chances on their husbands till the latter evolve fully into the best that they could ever become.

Hauwa, the beautiful wife of Danbaba Suntai, former Taraba governor, is one of them. She’s always there for her husband. The former governor was seriously injured when his self-piloted plane crashed in Yola, Adamawa State on October 25, 2012.

Since then he has been in and out of hospital. Even though he won the battle for survival, he is still battling to be fully restored to his pre-accident state. But in all these battles, Hauwa has remained solidly by his side.

In fact, at a point, some of his old friends shunned him, leaving him to his fate, consigning all memories of the good times spent with him to the trashcan.

There was a time when Suntai fared pretty well in the political ďŹ rmament. In the truest sense, he had such a ďŹ rm grip on Taraba State as the governor; his name rang so reverberatingly in the socio-political milieu that the dilettantes would have mistaken him for a hip-hop star. His contributions were however, not limited to the political sector as he also had a swell time in the city’s social circle. He was always invited as a special guest at many social events and he honoured almost all. He maintained more than a conspicuous presence at high-octane social events and political functions. But all that seems to be history now.

VALENTINE BLUES...LOVE SEIZES TUNJI OLOWOLAFE Ëž

͹͎

While many a man subjects his wife to ignominy and scorn, Tunji Olowolafe knows that nothing, other than the love and virtue of his ravishing wife, is more beautiful and worth treasuring. Curiously,

Tunji Olowolafe

Danbaba Suntai and wife, Hauwa

He is no longer visible on the social radar.

Days ago, he celebrated Valentine in the United

however, where there is no love, there is no ardor. But where love exists, passion becomes a given and even the most wretched homestead becomes Eden. There is love in the heart and home of Tunji Olowolafe; unbeknownst to many a woman. The bosom friend of two-time Lagos governor and incumbent Minister of Power, Works and Housing, Babatunde Fashola, is extremely joyous at the moment; he is swaddled in the ecstasy of requited love, like a newborn cradling in his mother ’s warmth. Olowolafe, who is Nike Animasahun’s best friend, is very much in love with his wife. And he is never too shy to express his heartfelt adoration of his heartthrob.

At the backdrop of rumours of a controversial transaction with the nation’s government, Olowolafe, the boss of Deux Projects, an engineering firm, shunned his worries to celebrate his unflagging love for his wife of many years.

Last Valentine’s day, Olowolafe and his wife celebrated their 30th wedding anniversary.

Predictably, friends and family

States where he’s presently receiving proper medical attention. And conspicuously by his side was Hauwa - a

proof that their love is purely made in heaven and she’s ready to be with him for better or worse.

celebrated the couple on the social media on Valentine’s day. For the 30th wedding anniversary, social barometer is flailing wildly. In twos and threes and more, it is being discussed in hushed tones and sometimes openly that their marriage is made in heaven.

You couldn’t have forgotten so soon when Olowolafe’s daughter, Olanike, married in London few years ago. It was indeed a classy wedding that attracted the creme of London and Nigeria’s high society.

SALAMOTU LAFIAJI TAKES A WIDE BERTH FROM MARRIAGE Ëž Ě“ Ëœ

˜

There is no gainsaying Salamatu Lafiaji was a misfit in marriage. Marriage hurt her soul as undersized shoes torment the toes on a mismatched feet. However, the daughter of Senator Shaaba Lafiaji, a former governor of Kwara State, remains undaunted in the midst of life’s challenges. While the beautiful woman eschews the allure of romantic entanglement at the

Salamotu LaďŹ aji and Ibrahim Chatta

moment, she is open to trying her luck with a promising suitor in the nearest future.

Thus she is taking her time and scorning the advances of the long queue of eligible bachelors who have been knocking on the door of her heart without success since her tragic marital experience.

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T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž ÍŻÍˇËœ Í°ÍŽÍŻÍľ

Old Wine Tastes Better! How Susan Hart-Kuku Tames and Titillates Hubby, Olorogun Sunny Kuku Ëž Ă’Ă? Ă?Ă˜Ă Ă“Ă‹ĂŒĂ–Ă? Ă?ĂžĂ“ĂœĂœĂ“Ă˜Ă‘Ă? Ă™Ă? ÞÒĂ?Ă“Ăœ Ă?ĂœĂ“Ă?Ă˜ĂŽĂ?Ă’Ă“Ăš Ă‹Ă˜ĂŽ ÖÙà Ă?

S

usan Hart-Kuku is gifted in love.

Like the fabled enchanteur from the renaissance era, she has got Olorogun Sunny Kuku forever pacing the Hadrian’s wall of her shoulder and dreaming of her maiden castle. In the same breadth, she has got him perpetually hooked on her cocktail of love. Since his eyes held with hers and they experienced their first touch, she sent shock waves of love through his veins like radiant energy. Thus Olorogun Kuku became a string to be played by the nimble fingers of Susan, his beloved wife.

Very few women are capable of such feat.

Indeed, very few wives are able to keep their husbands fulfilled and perpetually devoted to their wedlock.

Susan is capable of such deed. As you

read, the ravishing beauty savours blissful matrimony with her husband. She relishes every minute of her garden-fresh union, basking in the glory of being an elegant consort of the renowned Olorogun Sunny Kuku.

The stunning winner of the MBGN 1994 is currently glowing and carrying on with a contagious glow found only among fulfilled society ladies, having found love in the hands of her heartthrob, Olorogun Kuku.

Ever since the couple announced their union as husband and wife, they have stuck together like Siamese twins. To prove their pliable and unshakeable love for each other, they have been touring the world together, enjoying every moment of their marriage as if every day is honeymoon.

Lafiaji was once married to Nollywood high flier, Ibrahim Chatta, but the union could not survive the first few challenges that came its way and it crashed down to earth faster than a malfunctioning rocket, leaving unpleasant memories in the minds of everyone involved. While Ibrahim has since rediscovered love and happiness in the arms of another woman, Salamatu has temporarily turned her back on romance, taking solace in her business endeavours. She has even reverted to her maiden name.

AFTER THE STORM...SEE WHAT TOYIN SUBAIR WAS CAUGHT DOING IN LONDON Ëž

Like a moment’s apparition meant to be an everlasting ornament, Toyin Subair, the owner of defunct pay television station, HITV, provoked a debate in social circles by his sudden disappearance from the social scene. Not a few people had been wondering about his whereabouts. But Highlife has it on good authority that the popular socialite deserted the shores of the country and relocated to London, United Kingdom, soon after his private cable television business collapsed. But he is gradually staging a comeback.

He was recently sighted at the Steam Bar of Paddington Hilton Hotel in London with a beautiful lady penultimate Friday. They had an interesting time in each other ’s company until the wee hours of that day. Contrary to the popular belief that things are not really looking up for him, we have it on good authority that the wellconnected dude is doing very fine.

OUR GRANNY IS A TITAN... HOW DEJARE ADEGBENRO, SIBLINGS CELEBRATED GRANNY IYABO REWANE AT 80 Ëž

Tony Subair

She has gone through the motions of life with equanimity and grace. Through the shrill clang of trials and pain, she emerged victorious as the rough hewn ore returns finer, like burnished steel from a steel forge. Thus as you read, Madam Iyabo Rewane, the wife of late Pa Alfred Rewane and grandma of Lagos big

Susan and Sunny Kuku

lot of positive influence on Dejare in particular; thus his relentless bid to treat her to the best of celebrations. It was an unforgettable birthday party at Queens Park Events center Victoria Island, Lagos, last Saturday. Trust Dejare, he’s well connected in Nigeria socio-political circuits hence the event attracted the crème of Nigeria’s high society.

Adejare Adegbenro

boy, Dejare Adegbenro, evolves as worthy inspiration to generations of family and friends alike. Little wonder her grandson, Dejare and his siblings pulled all stops to celebrate her as she clocks 80 last Monday. Mama Rewane who happens to be the mother of Dejare’s late mum is no doubt a pillar of trust, hope, compassion and support to everyone around her, particularly her family members. She never shies from giving them crucial and beneficial moral support in the most trying and pleasant moments. She is undoubtedly their guiding light through the wilderness of life and their interminable gust of calming wind on life’s stormy seas.

Mama Rewane has been a

BEAR YOUR CROSS‌ WHY TURAI YAR’ ADUA COULDN’T SAVE HER SON-IN-LAW, YUGUDA, FROM EFCC Justice is the means by which established injustices are sanctioned. To disarm the rich and covetous of illegal acquisitions is to change the

Isa Yuguda

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˜ ˞ FEBRUARY 19, 2017

HIGHLIFE

This is What Nkechi Okocha Learnt About Honour Ëž Ă’ĂŁ Ă&#x;Ă?ĂžĂ“Ă˜ Ă‹ĂŁĚ‹ Ă‹ĂŁËŞĂ? ĂĄĂ“Ă?Ă? Ă•Ă?Ă?ĂšĂ? Ă‹ ÖÙå ĂšĂœĂ™Ę¨Ă–Ă?

H

onor is like a match, you can only use it once. Then you kindle its fickle flame to sustain it.

However, without money and native intelligence, honour manifests like a disease, driving its affecter to commit great acts of folly.

But Nkechi, wife of Nigerian exsoccer star, Austin Jay-Jay Okocha, understands the twisted indices of honour. That is why she carries on with the wisdom of the ancients in world corrupted by ego and vulgar affluence. Nkechi understands that to keep your cherished spot on the social ladder, you must know

when to consciously raise your profile and when to lower it. After years of gracing the Nigerian social scene with her elegance and beauty, Nkechi has adopted a low profile. Nkechi and her husband, Okocha, are without doubt one of the most admired couples on the social scene. The duo, who exchanged marital vows more than 15 years ago, have made strong, enviable impressions on the scene, especially after Okocha quit active football.

Their astuteness is reflected in their humility, enviable character, choice apparels and matching accessories.

social order in the interest of the citizenry. Thus the Economic and Financial Crimes Commission’s recent seizure of a choice property belonging to the immediate past governor of Bauchi State, Mallam Isa Yuguda, is considered to be in consonance with the Rule of Law. The confiscation of the property which is located at No 184 Attahiru Bafarawa Close old GRA, Bauchi, is on the strength of an order of the Federal High Court, Abuja. It said the seizure will be in force pending the conclusion of investigations against him bordering on abuse of office, money laundering and diversion of public funds.

Interestingly, his motherin-law, Turai Yar ’Adua, and Nigeria’s former first lady, is not doing anything to help him out. She is not pleading with President Muhammadu Buhari, on his behalf because she has her own issues to deal with. Yes, it is true that Nafisat was allegedly ‘begged’ by her mother, Hajia Turai Yar ’ Adua, to marry Yuguda sometime back. No sooner was the union consummated than Nafisat discovered her rite of passage into motherhood, which has been a natural occurrence in every conjugal affinity between a man and a woman; a situation that necessitated her sojourn in America where she gave birth to baby boy.

REVEALED! HOW GOV. SERIAKE DICKSON BECAME AN IDOL TO HIS WIFE ˞ ˜

Governor Seriake Dickson is an unusual man. Like an ageless oak, he stood strong and unbending against the tide of scorn and condemnations

Seriake Dickson

that trailed his wife’s inability to bear him a child after several years of marriage.

The Governor of Bayelsa State never dithered in his resolve nor did dream of taking a trophy wife to fulfill the yearning of his loins. His long wait and loyalty finally paid off as his wife, Rachel, got pregnant with his kids when he least expected. When preliminary scan revealed that she was pregnant with his triplets, Dickson was overjoyed. Little wonder he took extra measures to guarantee the safety of his wife and kids. By the time she was to put to bed, he flew her out of the country to the United States where she received ultimate care and treatment until she put to bed in October last year. At her return, Rachel was received by her husband and women of the state in joy and fanfare

Austin Okocha and wife, Nkechi

some days ago. It’s delightful to see her glow with pride and contentment over her latest feat. Her heartfelt wish has been granted and unlike so many of her peers, she never had to endure heartache or abuse from her husband before she bore him children.

But while friends, family and political associates rejoice with the Dicksons, sources close to the family commended the couple for setting a good example by treating each other like special, heavenly gifts all along.

Dickson has been particularly commended for exhibiting enviable maturity and tact. While so many other men would have taken mistresses outside wedlock and subjected their wives to emotional and physical torture for failing to bear them children, he lovingly and dutifully stood by his wife. He is indeed a real man, so argued a close relative of the family.

MEDICAL VACATION‌NNPC HEAD HONCHO, BARU MAIKANTI, BACK ON HIS FEET In many ways, Baru Maikanti epitomizes the nature of positive revolt: always at odd with the present, forever evolving. But wait a minute, decay and disease are never beautiful, they bring perfect misery to the fairest of mortals’ imperfect body and soul, like the translucent tear of the shellfish and the hectic glow of high fever.

Ask NNPC head honcho, he knows better now. The news of his sickness and his trip to India for proper medical attention some days ago resonated like murderous of a mad mob hounding its prey to sad death. The story caused

panic within Nigeria’s socioeconomic space. However, like random malevolent news at the end of its spell, news of his sickness dissipated into thin air to make room for the reality of his existence. Yes, Baru travelled to India for a minor surgery. As you read, he is back on his feet. He is reportedly hale and hearty, would return to the country soon to shame his critics and political detractors. Until his appointment, he was Special Adviser (Upstream) to the Minister of State for Petroleum and was NNPC’s Group Executive Director, Exploration and Production.

The Chief Operating Officer, Gas and Power, Mr. Saidu Muhammad, is currently running the NNPC in Baru’s absence.

Baru Maikanti

Sunday February 19, 2017

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& RE A S O

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Price: N400

MISSILE George to Judiciary “Democracy has been murdered. I was shocked. Shocked is the minimum I could say.

It is worse than being shocked. My immediate conclusion was that this is the voice of Jacob and the hand of Esau.”

– Former Deputy National Chairman of the Peoples Democratic Party (PDP), Bode George, reacting to the Court of Appeal judgement in Port Harcourt, which affirmed Senator Ali Modu Sheriff as the authentic chairman of the PDP.

SIMONKOLAWOLE SIMONKOLAWOLELIVE!

simon.kolawole@thisdaylive.com, sms: 0805 500 1961

Is Fake News the New Normal?

H

eard the latest? The Central Bank of Nigeria has been selling the elusive dollar to some end users at 61 kobo/US$1, while the rest of us are busy buying the stuff at over N500/$1 in the parallel market. Goodness Gracious! It is time to fire Mr. Godwin Emefiele as the CBN governor.

He should not only be sacked, he should be jailed. This is simply getting too much.

Since President Muhammadu Buhari assumed office, Emefiele has not only conspired with himself to destroy the naira — singlehanded and cold-hearted — he has even gone to the extent of selling the almighty dollar to his cronies at 61 kobo! The information is right there on the CBN website! Emefiele must go!

Now, I don’t need to do any research to know that what you just read is an excellent piece of fake news. Terrific fake news. I will give just three reasons on the spot. One, the CBN does not sell forex directly to bank customers. Anyone with the faintest idea of how the financial system works knows this for a fact. When you request for forex from your bank, the bank bids at the central bank. If it sails through, your bank debits the naira equivalent from your account and transfers the forex to your designated beneficiary. These transactions, as recorded by the bank and approved by the CBN, are then published in the newspapers and on central bank’s website.

Two, since the CBN does not deal directly with bank customers, will a bank buy $1 at N305 from the CBN and then sell to customers at 61 kobo, thereby making a loss of N304.39 on every dollar? Is that the new attribute of Father Christmas? Even Father Christmas charges a gate fee! Let’s even say the CBN sells directly to end users. Why would it sell at 61 kobo to one customer and at N315 to another and have the audacity to publish the information on its website? Are they that dumb at the central bank? Something like: “Dear Nigerians, we sold $1 at 61 kobo to Chief Kudi and another $1 at N497 to Eze Ekeshi.

If you doubt us, check our website. Thanks for your understanding.”

Three, when we started using the naira as national currency on January 1, 1973, it exchanged at 65 kobo/$1. From then, the best rate has been 61 kobo. In fact, only in one year did the naira average 61 kobo to the dollar — and that was as far back as 1981.

Are we now saying 36 years after, the dollar would still be sold for 61 kobo? Even when our foreign reserves, including excess crude earnings, hit $65 billion, dollar did not exchange for 61 kobo. Even when crude old sold for $147 per barrel, dollar did not exchange for 61 kobo. Even the generous Hajj rate, Jerusalem rate and DSS rate are more than 61 kobo.

On what economic or political basis would it now be 61 kobo?

I did not pay attention to the allegation until I read that Mr. Abubakar Malami, the attorney-general of the federation, had couriered a query to Emefiele based on a petition that a dollar was sold for 61 kobo. The CBN issued a statement dismissing the allegation, insisting that the transactions in question were not conducted in dollars but “in a third currency”. Let us say, for instance, that the bank transaction is in South African rand. Since $1 goes for R13, someone will just take a look at the rate and conclude that $1 was sold for N13. It becomes a scandal, goes viral on the social media and produces a query from the attorney-general.

And Emefiele must go!

Nevertheless, I would conclude that there is

Emefiele always a basis for fake news, no matter how tenuous. There is a vacuum that fake news seeks to fill — or create. Since Buhari went on “medical leave”, the fake news industry has been very buoyant. He said he was going away for 10 working days. He, curiously, extended it. The wife, Aisha, went to UK, headed for Saudi Arabia for lesser hajj and then returned to Nigeria. This was a very good tonic for fake news: Buhari has been moved to Saudi Arabia for further treatment. After all, President Umaru Musa Yar’Adua swapped Germany for Saudi Arabia in 2009 in his last days. In the final analysis, fake news feeds on something.

I did not buy the Saudi Arabia story in Buhari’s case because if indeed he is critically ill (or bedridden), his wife would not leave for Nigeria. To come and do what? Pack some clothing and toiletries? It doesn’t make sense.

When Yar’Adua was terminally ill in 2009, his wife, Turai, was there from the beginning to the end, till her husband was flown back to Nigeria, under controversial circumstances, in February 2010. She never left his side. I don’t

Nevertheless, I would conclude that there is always a basis for fake news, no matter how tenuous. There is a vacuum that fake news seeks to fill — or create

know how many women would leave the bedside of their dying husbands and return to Nigeria, no matter what. But in the world of make-believe, the deal is to make you believe everything.

There is a sense in which we can say the Yar’Adua experience influenced perception in the ongoing Buhari saga. Yar’Adau was critically ill in Saudi Arabia. It was reported that he was brain dead. He then granted the BBC an interview to prove that he was still awake. He even wished the Super Eagles success in the Africa Cup of Nations in Equatorial Guinea.

But many believed his voice was cloned. It was believed that a “cabal” wanted to create the impression that Yar’Adua was healthy enough to be issuing orders from his sick bed.

The attorney-general at the time, Mr Mike Aondoakaa, famously said the president could rule from anywhere.

As a result of this experience, Nigerians have become very sceptical of any bit of information from government. This scepticism provides the perfect setting for fake news. When Asiwaju Bola Tinubu and Chief Bisi Akande visited Buhari in London and the pictures were released, a fake news manufacturer grabbed his phone and started typing a “denial” by Tinubu, claiming Tinubu said he was in Ibadan and could not have visited the president. It soon went, as they say, viral. Some still insist Buhari did not speak with US President Donald Trump, that Buhari is unconscious and cannot talk to anybody. All pictures taken with Buhari so far have been declared as “photoshopped”.

Fake news — that art of concocting stories from your bedroom because you have a smart phone with cheap data — is becoming the biggest thing in town. No, it is not new. It was not invented in this generation of social media. We have been living with fake news most of our lives. The SAP riots of 1989, for instance, were sparked off by fake news. Some highly talented rumour mongers printed leaflets claiming that the military president, General Ibrahim Babangida, and his wife, Mariam, had the biggest wristwatch company in Switzerland, the best fashion house in Paris, etc. It was spuriously attributed to Ebony magazine. Riots broke out and several people lost their lives.

Can we do anything about fake news? It is a global phenomenon, as we saw in America last year during the presidential electioneering.

Last year, an attempt by Nigerian lawmakers to hold fake news purveyors responsible through legislation was soundly rejected. There was an outcry, with some merit, that the law could be used for censorship. Yet we know that mischief makers who propagate fake news need to be held responsible at some point. But as I have argued before: ultimately, consumers of rumours and fake news will have to determine for themselves what is believable, what is speculative, what is fable and what is mischief designed to mislead the gullible.

My conclusion, though, is that fake news will continue to blossom. Information has never been this free in the history of mankind. It is free as a right — social media is a lawless society. It is virtually free in terms of cost — since your data subscription is for all purposes. Anybody who dreams of a world free of fake news needs to quickly wake up. Every mischief maker with a mobile phone and data subscription can set off a fake story anytime. There are thousands of eager sharers waiting to rebroadcast with the obligatory caveat, “shared as received”.

Fake news is going to be very normal in the years ahead. Authentic news will become an endangered species. Quote me.

And Four Other Things...

GOD BLESS DICKSON The people I admire the most are not those who say there are problems. Identifying a problem may be a good attribute on its own, but I prefer those who proffer solutions.

Even more to be admired are those who take practical steps to solve the problems.

Thumbs up for Governor Seriake Dickson of Bayelsa state for creating 1,200 hectares of land at Pame, in Yenagoa, for the Fulani herders. It may solve a political problem, who knows, and contain the farmers/herders conflict. But it is certainly also an economic masterstroke. The livestock will be healthier and yield more beef and milk both in quality and quantity.

The herders, after all, produce the beef we eat in Nigeria. Win-win.

HOPE RISING With oil production returning to 2 million barrels per day, price hovering around $54 per barrel, and an expected inflow of $1 billion from the eurobond issue (plus a rumoured $2.5 billion World Bank facility in the works), the cup is suddenly looking more like half-full than half-empty for Nigeria. But the dollar at $510, in spite of these positive signals, is no good news at all. The naira has lost too much weight in two years. Nevertheless, what we should all crave at this time is stability. If the naira will fall to N550 and stay there for the next four years, I can live with that more than it falling by N5 every day. With stability, we can plan much better. Hope.

IN MEMORY OF WALI Today, at the Shehu Musa Yar’Adua Centre, Abuja, Ambassador Isa Wali will be remembered on the 50th anniversary of his death. He was at various times Nigeria’s high commissioner to Ghana and permanent representative to the UN. A progressive politician of the Aminu Kano school, Wali was a known critic of religious and political suppression, and a campaigner for the underprivileged. His family, in collaboration with the Isa Wali Empowerment Initiative, will hold a lecture and fundraiser in his memory today, with the minister of environment, Hajia Amina Mohamed, delivering the keynote. The memory of the upright is always blessed.

Remarkable.

CORRINGENDUM In my article, “The Drama Republic of Nigeria” (February 12, 2017), I wrote that even if President Buhari had not written to the national assembly that he was going away, “Osinbajo would still have legally started acting as president after 21 days”.

I attributed this to the amendment of the 1999 constitution to correct the Yar’Adua scenario when Vice-President Goodluck Jonathan could not act because there was no letter to that effect from the president.

In fact, the proposed amendment did not sail through. The position of the constitution remains that the president has to write become the VP can be acting president. Apologies.

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