Friday 4th August 2017 by THISDAY Newspapers Ltd

NNPC, IOCs Sign $1.78bn Alternative Financing Agreements for JV Projects FG to earn $16 billion Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) on Thursday said it had signed alternative financing agreements on Joint Venture (JV) oil and gas projects with two

International Oil Companies (IOCs), explaining that the projects would boost Nigeria’s reserves and production as well as generate for the federal

government, incremental revenues worth $16 billion. The corporation said in a statement by its Group General Manager, Public Affairs, Mr. Ndu Ughamadu,

in Abuja, that the JV agreements were signed on Monday in London between the NNPC and Chevron Nigeria Limited (CNL); and Shell Petroleum

Development Company (SPDC) for the development of the NNPC/CNL JV Sonam Project (Project Falcon) and NNPC/SPDC JV Project Santolina.

EFCC, AMCON to Reopen Cases of Insider Abuse in Banks… Page 49

The agreements for the funding of the two projects, it explained were signed by its Group Managing Director, Dr. Maikanti Baru; Shell Global Upstream Director, Mr. Andy Brown; and Chairman and Continued on page 49

Friday 4 August, 2017 Vol 22. No 8142. Price: N250

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US Approves Super Tucano Attack Planes for Nigeria Defence College report rues military’s deficient equipment Advises local production of weapons Tobi Soniyi in Lagos and Paul Obi in Abuja with agency report After years of footdragging, the US State Department has finally approved a $593 million sale to Nigeria of A-29 Super Tucano attack planes with associated parts, training, facilities

and weapons. The Defence Security Cooperation Agency (DSCA) delivered its certification of the foreign military sale to Congress, as required by law, on August 2, according to United Press International. Continued on page 10

Finally, FG to Tax First, Business Class Tickets Ndubuisi Francis in Abuja Finance Minister, Mrs. Kemi Adeosun, said yesterday that the federal government would begin to tax first and business class flight tickets in line with the new tax drive aimed at boosting revenue. The move is coming almost three years after the previous administration rolled out the

initiative among a cocktail of measures to boost revenue with the precipitous decline in oil price from mid-June 2014. Adeosun said the new drive followed the signing of a policy to tax first and business class tickets as well as other luxury goods. She made these disclosures Continued on page 10

Quit Notice to Igbos Stands, FOR LAGOS TO BE SAFE… State Governor, Mr. Akinwunmi Ambode (Left), and Inspector General of Police, Mr. Idris Ibrahim, during the IG’s Say Arewa Youths… Page 50 Lagos visit to the governor at the Lagos House, Ikeja… yesterday

T H I S D AY FRIDAY AUGUST 4, 2017

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PAGE TEN FINALLY, FG TO TAX FIRST, BUSINESS CLASS TICKETS in a Facebook interaction with Nigerians, where she was asked whether or not there was a plan to tax both classes of tickets as well as sundry luxury items. She simply responded: "I think yes. We signed something yesterday on luxury goods: champagne, brandy, whiskey, wine, jewellery, high-end jewellery. “We’ve signed something that will bill access charge on first class and business class tickets;

we are just doing the final part of the implementation and we also want to try and amend the tax payer book on high-end cars, luxury cars,” she explained. She assured Nigerians that the proceeds would be deployed into turning Nigeria into what it was in the past. According to her: “If we move our tax-to-GDP ratio up, it means two things: One, we will be able to provide more services to our

people. Many of the things we are not able to do are a function of the fact that we don’t have enough money. “We need to build more schools, we need to build more hospitals, we need to build more roads. This is not rocket science. Every country has challenges, there is nothing we are facing that other countries haven’t faced. “Every poor nation has very poor tax compliance rate and

every rich nation has high compliance rate. So we want to be a prosperous nation. So what is in it for the citizens? If everybody pays, there will be far more money in the pool to be spent on the services that we need. “These things are what we call public goods, and they are funded from taxes. If you have been all around the country, you’ve seen the need, you’ve

seen the number of people that are living in poverty. We can lift people from poverty if we have the right money. “We could do so much more in the economy if we had the money. If our public school system improves, many people who are currently paying school fees will move their children back into the public schools," she reasoned. The minister noted that a

lot of people that were very successful today were educated in public schools because such schools were good, stressing: "We can recreate that; same with the health system. A lot of people die needlessly because we don’t have the right health facilities.” However, she clarified that Nigerians living and working abroad, and paying taxes in those countries do not have to pay taxes in Nigeria.

gains made by the MultiNational Joint Task Force (MNJTF), much of its reported progress was merely duplication of failed efforts carried over from the end of last dry/ fighting season,” adding: “The Nigerian military was unable to hold and rebuild civilian structures and institutions in those areas it had cleared.” It also faulted the decision of the federal government to return internally displaced people to their original places of abode, saying that this was being done without adequate security. “The Nigerian government continued to facilitate the return of internally displaced persons to their home communities, although sometimes without providing adequate security and before appropriate conditions were in place for safe, informed, voluntary returns,” it said. The report also said that Nigeria did not show any evidence that it would implement a coordinated plan to restore civilian security in recaptured territories. Another weakness in Nigeria’s approach to dislodging Boko Haram as shown by the US report is the lack of coordination among intelligence gathering agencies.

of the United States Code, Section 2656f (the “Act”) by the Department of State to Congress. It is aimed at providing a report on those countries and groups that meet the criteria of the Act. The report used to be published as “Patterns of Global Terrorism” up till 2003 but was changed to the present title beginning from 2004. "Thus, against the contrary picture given to Nigerians and the general public on the report in question, it did not cover only Nigeria but covered; Niger, Cameroon and Chad. That is, all the countries affected by Boko Haram Terrorists menace," he stated. He explained: "It is necessary to point out that the USA does not publish this report with the objective of causing restiveness among the populace, but to draw government’s attention to areas that could be improved upon to tackle global terrorism. "Thus, credit must be given to the USA for its strategic global efforts towards ensuring a more secure world. As such, Nigeria and the general public should not believe the misinformants whose intentions are to pitch the Nigerian Military negatively against the USA. "At this point, it is necessary to let Nigerians and the general public know that the USA and other international partners have been supporting the Armed Forces of Nigeria in the fight against insurgency and terrorism in the Lake Chad Basin region. "The report is not being objectively analysed by the misinformers because of their ulterior motive. Thus, it behoves on the Defence Headquarters to clarify the particular sentence that was capitalized upon, which is ‘The Nigerian Military was unable to hold and rebuild civilian Structures and Institutions in those areas it had cleared’. The simple and objective interpretation is as follows: "The report was for 2016 and not January to July 2017. Hence, attributing the assertion to be current is rather wicked and should be disregarded. "To clear an area in this context is a military task while to hold is the task of para-military and other security agencies," he declared. Enenche explained: "After the decimation of the terrorist strongholds in the North-east, other security agencies such as the Nigeria Police, National Security and Civil Defence Corps have been taking hold of areas cleared by the military. That is why Adamawa and Yobe States have virtually little incidents of terrorist acts in the recent past. "Furthermore, the rebuilding of civilian structures and institutions is not a military

task. It is purely the responsibility of the government of which a lot is being done. "The efforts of Borno, Yobe, and Adamawa States are evident in this regard. Equally, are the visible positive deliberate efforts of Presidential Committee on the North-east Initiative (PCNI). "In addition, there are nongovernmental organizations and good spirited individuals and private organizations contributing to rebuilding civilian structures and institutions in the North-east. "The above notwithstanding, the Nigerian Army has all along been involved in the restoration and construction of roads and bridges demolished by the terrorists, to open up transportation routes in the North-east. "As laudable as these efforts amongst other quick impact projects executed by the Nigerian Army and Airforce, even in 2016, they were not captured in the report. Thus, it is educative for Nigerians and the general public to be aware of this corporate social responsibility by the military in the North-east. "It is worthy to let Nigerians know that, the report highly commended Nigerian Government of which the Nigerian military is a part. "Clearly without ambiguity, it stated 'the Nigerian Government actively cooperated with the United States and other international partners to prevent further acts of terrorism in Nigeria against U.S citizens, citizens of third world countries, and Nigerian citizens'. "From this, therefore, is it possible for the report to contradict itself? Obviously no. Thus the misinformers deliberately decided to hide this commendation from Nigerians and the general public, to cause disaffection for the Nigerian Military among the populace, which should not be accepted," Enenche warned.

US APPROVES SUPER TUCANO ATTACK PLANES FOR NIGERIA The military equipment sales approval came just as a Nigerian Defence College report submitted to Acting President Yemi Osinbajo in July admitted that Boko Haram had made much impact in its terrorist activities in the North-east because it had superior fire power. The report, which was the outcome of a research by the college’s Course 25, said the Nigerian military had been hampered in its operations against the terrorists because it lacked the technical equipment necessary to stand up to Boko Haram. The college’s report corroborated another report by the US Bureau of Counterterrorism, released in July 2017 and reported exclusively by THISDAY on Monday, that the military lacked the capacity to hold the grounds conquered by it from Boko Haram due to tactical and strategic challenges. Although the military claimed yesterday that the publication and analyses of the US bureau report were detrimental to national security, the approval of the sale of military equipment to it must be good news to its high command. By the approval, 12 airplanes would be sold to the Nigerian military. The 12 A-29s, equipped with wing-mounted machine guns, weapons integration with advanced surveillance and precision-guided bombs, and even air-to-air missiles will help Nigeria to combat the Boko Haram insurgents and other extremist groups, such as the Islamic State West Africa splinter group. The equipment will also help Nigeria to counter smuggling and other forms of trafficking in Nigeria and the Gulf of Guinea. The DSCA had determined that U.S. security interests would be served by assisting Nigeria in its counterinsurgency operations and that the A-29 sale would not significantly alter the military balance of power in the region. The contract would require U.S. Government or private contractors to provide training and support and would include instructions on rules of engagement and human rights to help prevent civilian casualties. The Embraer A-29 Super Tucano is a turboprop light attack plane in service with countries across the world. It is designed for counterinsurgency operations and close-air support in areas lacking significant air defences. It is also widely used as a training aircraft. It is a contender in the U.S. Air Force’s OA-X light attack aircraft competition for a low-

cost and easy to operate and maintain air support platform. Light planes like the Tucano can fulfil air support and surveillance needs in lowrisk environments at a much lower operational cost than heavier jets like the A-10 or F-16 and require less flight and maintenance training. The attack planes will be a big boost for Nigeria’s military anti-terrorism campaign in the north east of the country. Past attempts to procure the plane under the Obama administration were frustrated by accusations of human rights abuses against Nigeria’s military. According to Defence Industry Daily, the Super Tucano is known as the A-29 or ALX in Brazil, but abroad, it’s the EMB 314 successor to Embraer’s widely-used EMB 312 Tucano trainer. The plane offers better flight performance than the EMB 312 Tucano, plus armouring and wing-mounted machine guns, weapons integration with advanced surveillance and targeting pods, precision-guided bombs, and even air-to-air missiles. This makes it an excellent territorial defence and close support plane for lowbudget air forces, as well as a surveillance asset with armed attack capability. Brazil uses it this way, for instance, alongside very advanced EMB-145 airborne radar and maritime patrol jet platforms. In Africa, Ghana, Angola, Burkina Faso, Angola, Mauritania, either have the Tucano in their air forces, or they had placed orders for new supplies.

Defence College report rues military’s deﬁcient equipment The expected planes would come in handy to redress the pathetic situation of the military which the Nigerian Defence College report painted. Entitled: 'Terrorism and National Security: The Nigerian Experience', a Strategy and Security Policy Paper Presented to the Vice President by the National Defence College Course 25 in July 2017, it stated that the terrorists were staging a come-back because the military did not have the adequate and requisite equipment to stop them. "Most of the units overran by the Boko Haram terrorists was not because of the military's inability to fight, but due to lack of weapons, ammunition and basic fighting equipment," the report said, explaining that most of the units fighting terrorists required specialised technical equipment to be able

to carry out their assigned tasks. "The units lack the full complements of equipment needed to discharge their roles and this hampers the kinetic efforts in the North-east," the report emphasised. To support the assertion that the Nigerian military lacked the superior firepower to stop Boko Haram, the security document stated: "In March 2017, about 30 soldiers fighting Boko Haram terrorists in the North-east revealed details about the mass killings of their colleagues due to poor firepower and inadequate equipment to combat the insurgents," adding that the military had been in short supply of equipment for effective operations since 2013. It stated that inadequate firepower had continued to undermine the efforts of operation 'Lafiya Dole' in completely countering the Boko Haram terrorists. It narrated: "In April 2017, Boko Haram terrorists invaded the military barracks in Sabon Garin in Damboa Local Government Area of Borno State and overwhelmed the troops with superior firepower." To turn the tide of the event, the strategy document advised that Nigeria should invest in arms and ammunition production locally. "With most countries in the West dragging their feet to sell military platforms to Nigeria, there is the need to start looking inwards to be able to sustain the fight against terrorism in the long run," it said. The report said the inability of the military to garner the resources needed to produce these platforms locally was a great obstacle. The US Bureau of Counterterrorism report had similar findings and this was exclusively reported by THISDAY on the day Acting President Osinbajo condemned penultimate Tuesday’s ambush of the Chad Basin oil exploration team by the Boko Haram, leading to the deaths and abduction of members of the ill-fated team. The US report belied the claim by the federal government that it was on top of the situation in the North-east. While directing military chiefs to relocate to the Northeast last week, Osinbajo had said that the government was on top of the crisis despite the resurgence of terrorists’ attacks in the troubled region, the most recent of which was the ambush of the exploration team. But the report by the US Bureau, which tracks terrorism and counter terrorism measures across the world found that Nigeria was not on top of the situation. The report stated: “Despite

Analyses of US Report on Boko Haram Detrimental to National Security' Says DHQ Three clear days after THISDAY publication of the US Bureau report, the Nigerian military finally found its voice, claiming that it was detrimental to national security. A statement by the Director of Defence Information, MajGen John Enenche, in Abuja, said the analyses that had followed the THISDAY report had continued to derail the nation's counter-insurgency plans in many ways, stating that they were eroding the confidence of the public in the military. Enenche said: "It has been observed by the Defence Headquarters that, Nigerians and the general public are being misinformed on the “Country Reports on Terrorism 2016” released by the United States of America (USA) Department of State. "The misinformation cuts across sensational headlines in some print and electronic media to prejudiced comments and analysis of the report among others, which are detrimental to Nigeria’s national security and interest. Therefore, it is instructive to present the report in the right and objective perspective to Nigerians. "Country reports on terrorism are submitted on annual basis in compliance with Title 22

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T H I S D AY ˾ ˜ Ͳ˜ 2017

COMMENT

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

GEOGRAPHIES OF POLITICAL SUCCESSION Political successions are often dictated by varied interests, writes Okello Oculi

n the early 1970s a chief of operations in South America for the United States of America’s Central Intelligence Agency (CIA) published a book on the art of recruiting local informers; ranging from cabinet ministers to junior officers who processed official documents. Official ceremonies and receptions were his hunting grounds at which sharp spies looked out for officials and social notables whose female escorts wore expensive jewelleries; high fashion dresses, shoes, wigs, etc. The cost of these items would be compared to the income of the family. A cabinet minister with a luxury-prone wife was vulnerable to an offer of a bank account in Washington D.C. out of which a wife could spend during shopping trips to the United States and Europe. The volume of funds in the account would depend on the value of official documents passed to the spy by her spouse. A defector from the former Soviet Union’s KGB revealed how he targeted the son of Japan’s Prime Minister. The lad had a raving appetite for fancy cars, including sports vehicles. Each time a new vehicle was advertised, he demanded that it be supplied. The Soviet contact would urge Moscow to oblige with haste. Moscow did so because the prime minister’s son would supply photographs of documents fresh from his father’s desk at home. He was an invaluable asset. The British novelist, John Le Carre, wrote gripping narrations about his country’s spooks and their exploits. In the light of this legacy, the current convulsions about the fingers of Vladimir Putin in American elections carries echoes of his former status as senior officer in the spy machinery of the former Soviet Union. The truth about the possibility that he harvested businessman Donald Trump; guided him through television show to win millions of supporters all across his United States of America, to contesting for, and winning the presidency, sits inside throats of American leaders, and waits. The potentially fanatical support which Trump could ignite among Americans whose incomes had collapsed as multinationals closed factories and relocated them to China to exploit cheap and disciplined workers, had been sketched out by Russian and American analysts for Putin to exploit. Trump’s victory has aroused massive demonstrations and hysterical dismay among leading sections of the American media and politicians. It is a testimony to the depth of the legacy of blindness to suffering inherited from slavery that Trump’s messianic support is still a shock to leading commentators. In Africa, the succession drama in Zimbabwe and South Africa is marked by a combination of a fighting backed by former European settler politicians, security operatives and farmers acting as what Jamaicans would describe as ‘’Sleeping Policemen’’. After decades of ruling Southern Rhodesia and apartheid South Africa, losing power to ‘’black majority rule’’ remains a bitter pill. Those who could not live under rule by Africans fled to Australia, New Zealand, Canada and elsewhere. Resilient political engineers are investing their genius in getting back power by coming in from the fire of discredited incumbency by African politicians.

JOMO KEYANTTA’S OPENLY STATED AIM TO CREATE A BRITISH-TYPE ARISTOCRACY IN KENYA WOULD FUSE INCUMBENCY WITH ETHNO-ECONOMIC PRIVILEGES

Demonising President Robert Mugabe has been combined with plots to topple him. The IMF and the World Bank joined in by recruiting college students and trade unions by threatening their interests with policies of ‘’retrenchment’’ and withdrawal of free education, healthcare and access to fertilisers. The so-called ‘’opposition’’ funded electoral struggles against Mugabe. Zimbabwe’s democracy has benefited by forcing Mugabe to run back to his liberation fighters and the rural majority; while building a combative political party. In South Africa, the African National Congress (ANC) fell into a trap which Basil Davidson once tagged as a plot to blunt and block African use of state-owned corporations to achieve economic development by promoting corruption among new rulers. On July 31, 2017, a former minister in Nelson Mandela’s cabinet told a meeting of ANC party members that they must reclaim Mandela’s legacy of selfless service to the people; a moral leadership which had been muddied by corruption from local to national officialdom. He did not blame former white politicians for broadcasting the virus of corruption. He singled out the effects of transition from united movement with a common enemy while standing outside of governance in politics and business. The leadership of South Africa’s Afrikaners showed far-sightedness by anticipating the imperative of adjusting to black majority rule. The ultra-racists would, however, hit back with sporadic massacres as De Klerk and Mandela negotiated the terms of political succession. They risk falling into the temptation of defending their economic privileges by co-opting traitors to the welfare of the black majority. In Egypt and Algeria, the politics of succession turned into civil wars. In Algeria, the military derailed an electoral arithmetic which showed that the Islamist party would win power; while in Egypt the electoral victory by a coalition between the Muslim Brotherhood and other anti-militarists was thrown out by a military coup while Mohammed Morsi held the presidency. The Islamists were accused of using the rituals of democracy to murder democratic politics once they won power. Economic interests of the military became a key voter. In Kenya, the elderly President Jomo Kenyatta - who struck a secret alliance with European settlers - opted for tagging his rival Oginga Odinga’s call for land redistribution as a tribal anti-Kikuyu drive. Busloads of Kikuyu were made to take oaths to ensure that political power would always stay in the house of ‘’Mumbi’’- the ancestral mother of the Gikuyu people. His openly stated aim to create a British-type aristocracy in Kenya would fuse incumbency with ethno-economic privileges. In 2007, this zero-sum succession formula exploded into desperate spontaneous violence which called into question the existence of the country. Succession became a flame waiting to be ignited with passions of hatred for challengers similar to racist politics in apartheid South Africa. Political desperation replaces dialogue between political leaders in search of consensus as evidence by the murder of the official committed to blocking electoral fraud. Prof. Oculi is a member of THISDAY Editorial Board

AMBODE IN OUR MIDST Bola Ososanya lists Badore community’s charter of demands

y taking the pains to come to the Badore Community in Eti-Osa Local Government Area to hold a Town Hall meeting on August 2, 2017 with the people of this area and environs, rather than rely on reports from government officials, Governor Akinwunmi Ambode of Lagos State has demonstrated unequivocally that he practises in truth and spirit government of the people, by the people and for the people. Mr Ambode is the first governor to hold a town hall meeting in Badore. History will be kind to transformational leaders like Governor Ambode. Other government officials in Nigeria, including those at the federal level, are enjoined to borrow a leaf from Ambode by periodically holding direct conversations with the people, so as to feel the pulse of the people in an honest manner. Just before the governor inaugurated the beautiful Ajah Flyover on May 17, 2017, stakeholders in the Ajah area of Lekki Peninsula sent him a list of our needs as a community. He promised to address them. Here are the needs once again: One, construction of the Okeira-Abraham Adesanya Estate Road to ease the enormous traffic on the Ajah-Addo-Badore Road. Right now, there is only one road serving over the 40 estates in this part of Lagos. Any time a big vehicle breaks down on this road, there will be no movement for several hours. Two, immediate repair of the failed portions of the Ajah-Addo-Badore Road which is almost 10 years old. The repairs should be by a very capable contractor because of the treacherous nature of the road. Much of the road used to be swampy. And the current pressure on the road now is colossal. Three, regular clearing of the heaps of garbage on the Ajah-Addo-Badore Road which have turned our area into an eyesore. The garbage was cleared 24 hours to the governor’s arrival. The governor should not be misled by what our people call “eye service”, as all of a sudden we had steady power supply for the duration Ambode was around. Even the drainage

facilities on this vital road were cleared, the first time in almost a decade. Four, for about 10 years, the streets on this road were not lit. But they began to work efficiently no sooner than Governor Ambode launched the Light Up Lagos programme. We are grateful for not being left out. However, the lights went dead a few months ago, turning the entire area into what has been called the heart of darkness. Last week, the lights came on again, though unfortunately only from Ajah to Addo. The whole of Badore is still in pitch darkness. Five, the whole stretch of Ajah through Addo to First Unity Estate in Badore has been covered by shacks and illegal structures. The kind of environmental impunity which cannot be observed in places like Ikeja, Surulere, Ilupeju, Yaba, Ebutte Meta and other parts of Lagos metropolis is practised on an industrial scale here, which is an integral part of the New Lagos. Not only should the shanties go immediately, officers of Kick Against Indiscipline (KAI), now known as the Lagos State Environmental Sanitation Corps, should be stationed here. This will be in line with the new Cleaner Lagos Initiative. Six, the menace of tippers hauling sand from Ajah waterfronts to all parts of Lagos has been brought to Ambode’s attention more than once. The double lane of the Ajah-Addo-Badore Road from the sand dredging junction to the Ajah Market has been reduced to a single lane. This is because wet sand dropping from the trucks has covered the right lane, making it difficult for vehicles to move on it. We suggest that the truck be surcharged N50 per trip. The money will be used to hire enough persons to sweep the road daily and also maintain the road which is now subjected to enormous pressure from the over 400 big trucks which daily convey sand from the dredging sites to all parts of Lagos. Seven, while serving as Lagos State Governor, Asiwaju Bola Ahmed Tinubu constructed a settlement for fishermen in Badore and built a road linking the settlement to both the Ajah-Addo-Badore

Road and the Tarzan Jetty. Thousands of people use this road daily to go to places like Ikorodu and Ijede as well as Victoria Island and back. The bad news is that this one kilometre, which has been renamed Catholic Mission Road, is in a mess. It is crying for attention. The Lagos State Public Works Department should be able to fix it. Eight, about seven years ago, the Lagos State Ministry of Works and Infrastructure designed a road linking Taiwo Kolawole Road to the Badore Village to serve as an alternative road to Unity Drive in First Unity Estate, Badore. The 1.5 km road was designed in conjunction with PW Ltd because both the Ministry and the construction company which built Unity Drive saw the imperative for the alternative road. Anytime a big vehicle breaks down on the Cooperative Villas Road which leads to big estates here, no vehicle can come in or go out of our area. Besides, construction of the short but critical road will go a long way to reduce the intimidating amount of flood water in these parts any time it rains. Nine, flood is a paralysing problem facing people in Badore and environs. We are glad that flood control in Badore is included in the 2017 annual budget, even though we have been making the request for years. We, however, regret that four months to the end of the 2017 financial year, we have yet to see anything concrete on the ground. We plead Gov. Ambode direct the Ministry of the Environment to get cracking immediately. A number of persons are about to lose their houses to flood. Ten, the Ministry of the Environment has to build a water channel around the small wood market close to the Cooperative Villas junction in Badore. Flood water comes from various parts of Badore, which is below the sea level, and enters First Unity Estate and neighbouring estates, destroying roads and houses. A water discharge point channel by the Wood Market will direct the flood water to the appropriate channels. Eleven, while noise pollution seems to be declining in various parts of the metropolis, on

account of commendable steps taken by the Ambode administration to make Lagos a truly 21st century city, the opposite seems to be the case from the Ajah Bus Stop to Badore. Religious organisations and record sellers turn their sound systems to the highest volume, in flagrant violation of the environmental laws of the state. The extant laws of the Lagos State Government on environmental protection have to be enforced. Twelve, another issue which bothers us very well is the increasing number of beggars and destitute dumped at the Ajah Market. The Ministry of Social Welfare has its job cut out for it. Thirteen, finally, we would like to bring to the attention of the Lagos State Government that a number of people dislodged from around Lekki Phase 1 in the last few months for security reasons have found their way to Badore Waterfront. They have been building all manner of shanties. The security implications are obvious. We do not want our place to serve as a hideout for kidnappers, armed robbers and terrorists. The people dislodged from Lekki Phase 1 and Ikorodu have been able to relocate to this place because of the peculiar location of our place. Our place, because of its geographical configuration, is out of sight. It often escapes the attention of government officials, hence the perennial neglect. Neither the persons representing us in the National Assembly nor our representative in the Lagos State House of Assembly has deemed it fit to visit us even for once. No commissioners have visited us on their own. Only a thorough and meticulous governor could find the need to come here in flesh and blood to listen directly to the people in these parts to pour out their hearts. We are grateful for this privilege. With a few more leaders like Governor Ambode, Nigeria will be transformed sooner than most people would imagine. Excerpts of speech by Ososanya, former CEO of Industrial & General Insurance in East Africa, at the quarterly Town Hall Meeting of Gov Ambode in Badore, Lekki Peninsula, Lagos

T H I S D AY Ëž Ëœ Í˛Ëœ 2017

EDITORIAL DEATHS FROM COLLAPSED BUILDINGS The authorities may do well by enforcing the building codes

hile it is difďŹ cult to keep track of the number of lives that are lost annually to building collapse in Nigeria, it must worry the Lagos authorities that hardly any week passes without such cheap but avoidable deaths in the state. As at the last count by the National Emergency Management Agency (NEMA), no fewer than eight dead bodies had been recovered recently from the debris of a collapsed four-storey building on Lagos Island. Even when it can be argued that such occurrences may not be peculiar to Lagos, it has become so commonplace in the state and the reason is also all too familiar. According to NEMA spokesman for South-west, Mr. Ibrahim Iranloye, the collapsed Lagos Island building was initially a bungalow before it was converted to a fourstorey building with an added penthouse. Reports by the Lagos authorities also indicated that a telecommunication masthead was erected on the building along with a big generator just two weeks before everything came down. Yet, as we have repeatUNLESS DRASTIC STEPS edly argued, unless ARE TAKEN AND BUILDING drastic steps are taken and building codes CODES IMPLEMENTED implemented to the TO THE LETTER, THE letter, the nation will NATION WILL CONTINUE continue to experiTO EXPERIENCE THESE ence these avoidable AVOIDABLE SERIAL serial disasters with DISASTERS the attendant loss of innocent lives. In other climes buildings donâ€™t just collapse every other day. From the architectural design stage to civil and structural engineering, actual construction and completion of a project, efforts are made to ensure that stipulated regulations are strictly adhered to and there are no shortcuts aimed at minimising costs. That unfortunately is not the case in our country. Even when Nigeria is not in lack of professionals in the building industry, the failure of the regulatory agencies to properly perform their supervisory roles has given way to situations where quacks have

Letters to the Editor

taken over with the effect that some land speculators have also become estate developers and construction experts. Therefore, it is very clear that we will continue to witness this unfortunate occurrence on a frequent basis due largely to unethical dealings by project promoters. In many instances, the collapse could be attributed the distortion of original building plans by adding more ďŹ‚oors, regardless of the weight the foundation. To add to all this is the failure of oversight and negligence by the appropriate authorities for supervision and monitoring of physical structure that were prone to collapse due to wear and tear.

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rdinarily, the construction of a building is expected to be managed by qualiďŹ ed professionals, including structural engineers, mechanical engineers, electrical engineers, architects and quantity surveyors, among others. All these professionals are to be supervised by site engineers and inspectors whose duty it is to ensure that everything is done in accordance with approved plans and standards. Apparently because of the failure of the regulating agencies to properly perform their supervisory roles, all manner of quacks have taken over the industry. The greater challenge is that lessons are never learnt after every tragedy. A property development expert, Samod Biobaku, argued recently that buildings hardly collapse without warning signs, some of which he identiďŹ ed as shifting resulting from faulty foundation, water stains on walls and collapsing ceilings, creaking and popping sounds, deteriorating support structure arising from deformed siding and sub-standard materials, gaps between the walls and ďŹ‚oors, major cracks in the walls, etc. While we recommend sanctions for those who may be found guilty of the criminal negligence that led to many of the fatal collapse of buildings in recent years, government should do a complete overhaul of the nationâ€™s building and construction regulations. There should be a policy that makes any professional connected with collapsed buildings to forfeit their licence and face the full weight of the law.

TO OUR READERS Letters in response to speciďŹ c 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 (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

THE APC WORRYING INTRA-PARTY FEUDS

he intra-party feuds within the ranks of the All Progressives Congress are worrying. Ideally, APC connotes aspirations that most Nigerians yearn for in politics namely, progress and unity. Unity amongst members of political parties with clearly defined agenda of development of the society brings about progress and rapid expansion of happiness amongst the greatest percentage of the populace. The Utilitarian philosophers say that the achievement of the greatest happiness of the greatest percentage of the people of a given society is the essence of politics. I agree. But if those who happily voted for President Muhammadu Buhariâ€™s party had hoped to witness tranquility and unity of purpose amongst the top chieftains of the ruling party, they may have to wait for a long time to come. Right from the day President Buhari assumed office on May 29, 2015 till date, his political family has yet to experience peace. His frequent foreign medical tourism has compounded these chains of chaotic infighting and uncertainty. The squabbles going on amongst the APC stakeholders could be likened to the self-destructive fight that occurs when a bunch of hoodlums have retired to their hideout to share their loot and there is a discord regarding the sharing formula. A typical example was the story told by the police about Evans the billionaire kidnapper, that the bullet wound that could be seen in his hand was sustained when on one occasion, a quarrel ensued amongst his gang members on the sharing formula and these armed hoodlums exchanged gun shots to settle their difference; just as it was told that

Evans was about the only survival from that battle for the loot. Although it may be uncharitable to compare the political infighting within the APC to the typical boardroom bulletsâ€™ exchange between quarrelsome members of a crime syndicate, but the genesis of the crisis in the ruling party is known to have started with the selection of leaders of the parliament. So if a conspiracy theorist compare the various squabbles in APC as that of members of an organised crime syndicate, it must be understood from the context of the extent of frustration that Nigerians are feeling because of the apparent inertia in the governance of the country by the quarrelsome politicians belonging to APC. It would be recalled that the partyâ€™s faithful loyal to President Buhari championed by the suspended Secretary to the Federal Government, Mr. Babachir Lawal, wanted some other person but Bukola Saraki to become Senate President. But most senators of the APC supported by those of the Peoples Democratic Party thought otherwise and went for Bukola Saraki and the PDPâ€™s Ike Ekweremadu. The emergence of the opposition PDP senator as Deputy Senate President was taken as a political slap on the face of an â€˜all powerfulâ€™ APC produced president for which both of them in the Senate leadership would be subjected to the bitter pills of federal governmentâ€™s sponsored persecution. The emergence of Dr. Saraki, two terms governor of Kwara State and the eldest son of the Second Republic leader of the Senate did not end the infighting amongst the supporters of the new leadership and the remnants that backed the presidency. That infighting dragged on in form of a legal prosecution of the senate leaders at both the Abuja High Court for alleged forgery of

in-house rule book of the Senate and the recently dismissed prosecution of Bukola Saraki before the Code of Conduct Tribunal. With all these fights going on and threatening the foundation of the ruling party, the national hierarchy appeared very weak and partisan. The national hierarchy has spectacularly failed to provide the needed effective leadership by example by failing to rise to the occasion to resolve conclusively the various contentious supremacy battles that the different state chapters between are engulfed particularly between influential senators and their state governors who feel threatened by the national visibility of these outspoken senators. The national leadership is also at war with itself because of what the Deputy National Publicity Secretary saw as a fraud in the failure to nominate him as substantive spokesman of the ruling party to succeed the National Publicity Secretary, Mr. Lai Mohammed, who went on to become Minister of information. The national chairman isnâ€™t comfortable with the deputy national publicity secretary stepping in as the official mouthpiece of the party. The state chapters have also not fared well due to infighting between influential senators and their governors who feel threatened by the visibility of these outspoken senators especially as 2019 approaches and they arenâ€™t sure of a return tickets. From Kogi, Kwara, Kano, Lagos and even Rivers State, the internal battles for supremacy have threatened the cohesion of the ruling party and these various challenges have affected the implementation of the partyâ€™s manifesto. This is shown by the failure of the APC to even accept a major promise it made in its manifesto on restructuring. Emmanuel Onwubiko, Head, Human Rights Writers Association of Nigeria

T H I S D AY FRIDAY AUGUST 4, 2017

T H I S D AY • FRIDAY, AUGUST 4, 2017

Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY

POLITICS

PERSONALITY FOCUS

Political Empowerment for Youths The ‘Not Too Young to Rule Bill’ recently passed by the National Assembly has the potential to widen the political space, but there are hurdles which the bill must scale before it becomes law, writes Shola Oyeyipo

ith the passage of the ‘Not Too Young to Rule Bill’ by the National Assembly, Nigeria inches closer to giving the youths the opportunity to vie for elective posts at younger ages. At present, the Nigerian political turf is dominated by people within ages 50 and 70 bracket. Whereas France became a reference point earlier this year with the electoral victory of 39 years old President Emmanuel Macron. San Marino has a 29 year old Vanessa D’Ambrosio as its leader. Other countries like North Korea, Qatar, Bhutan, Ireland, Yemen, Estonia, Ukraine and Belgium have some of the youngest leaders around the world. Except Begium where Charles Michel is 41, all the rest are younger than 40. The previous system edged the youths out of seeking elective offices because one must attain the age of 40 before he or she could consider becoming a president. Likewise, you must have attained the age of 30 to be eligible to become a senator but with the alteration of section 131 (b) of the constitution, the age qualification to seek election into the House of Representatives and states’ houses of assembly was changed from 30 to 25 years while a 35 year old person can now seek election into the office of the president and 30 can contest governorship as against 35. The implication of the previous scenario was that youths were relegated to only spectatorship roles in the Nigerian political arena. They can only vote for people, they cannot be voted for. The difference with the new law is that the window of opportunity is opened for youths to come into active politics as a block of people who are determined to takeover leadership because they constitute the most significant proportion of the Nigerian population. So, last week, when the Nigerian lawmakers, in the course of their ongoing constitutional amendment exercise, passed the bill, it generated a lot of excitement and commendations. For instance, the Senate President, Dr. Bukola Srarki, on his twitter handle said: “We have laid a solid foundation for a new Nigeria that will create opportunities for our youths.” The Youth Initiative Against Violence and Human Rights Abuse commended the Senate for passing the bill. It described it as a “giant stride” and one of the greatest achievements in the history of the National Assembly. She said the action taken did not only show that the lawmakers were on the same page with Nigeria’s founding fathers, but in line with global political best practice. “All over the world, people are removing barriers that limit young people from actively participating in governance and Nigeria cannot be left behind. The passage of this bill is timely and essential to the growth of democracy in Nigeria and it will affect the common people on the street. We have hope in the capabilities of young people to move this nation forward,” she said. Many believe that the development is good for the country. In all 86 senators voted in support of the bill while10 voted against it and one lawmaker abstained. In his estimate of the Nigerian population based on the population of 140 million recorded in the last census, on an annual growth rate of 3.5 percent considered against other variables such as rising life expectancy rate and a reduction in infant mortality rate as at 2015, the Director-General of the National Population Commission (NPC), Dr. Ghaji Bello

Speaker of the House of Representatives, Yakubu Dogara

puts the Nigerian population at 182 million. He said of that figure, more than half were under 30 years of age. On the other hand, in an update on the recently concluded nationwide Continuous Voter Registration (CVR) exercise, the chairman, Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu puts the Nigerian voting population at 71, 40,000. Obviously, the youths constituted a significant number in the voting population of the country. Going by Bello’s estimate, of the 182 million Nigerians back then, those under 14 years account for more than 40 percent of Nigerian citizens and as at now, a lot of them have attained the voting age of 18. These above statistics are strong enough for the youths to negotiate politically. For instance, with the affirmative action on women, political parties quickly found ways of accommodating more women in elective

Will 24 states agree to open the political space for the youths? Those who pushed for the bill to pass at the National Assembly must roll up their sleeves and go back to work to make sure the states also pass the bill

positions on their platforms simply to attract feminine sympathy. Same must go for youths immediately. Political parties must begin to readjust their constitutions to deliberately pave way for more younger Nigerians to pick tickets for presidency, governorship, state and National Assemblies on their platforms. Non-compliant parties will bear the consequence. However, the passage of the bill by the National Assembly is just one of the critical steps to making the bill a law. Other hurdles remain. For instance, section 9 of the constitution stipulates that the “National Assembly can only pass an Act to amend the constitution when its proposal to amend the constitution has been supported by two-thirds majority of all the members of each chamber and is approved by the resolution of at least two 24 Houses of Assembly of the States.” Will 24 states agree to open the political space for the youths? Those who pushed for the bill to pass at the National Assembly must roll up their sleeves and go back to work to make sure the states also pass the bill. The other hurdle is whether the youths are ready to take the plunge. The youths will have to reinvent themselves. They will have to convince Nigerians that they will no longer be a willing tool for the political class to use as thugs during election before they can earn voters’ trust. Just like women don’t like voting for one of their own, will the youths vote for one of their own when the time comes? That is another puzzle that will unravel when the bill finally has legal effect. Youths will have to set aside primordial sentiment by giving opportunity to one of their own to

take over leadership position. Those who argued against the bill cited the abysmal performance of youths in students unionism. Many wonder if youths that can not organise themselves at the students union level deserve to be given elective positions. Given this opportunity, the youths must make the best of it. It is only wise to convince Nigerians in general that the future of the country really lies in the hand of the younger generation by exemplifying best practices and eschewing corruption for which the country has become infamous. To take possession of the movement, the group that matched to the National Assembly and other groups that advocated for the bill and worked to give the bill life must not relent. They should form a formidable coalition of youth groups to draw up a template on which the bill can be useful to the people. Youth organisations nationwide must quickly form a working synergy. They should draw up agenda on how to position themselves to take advantage the new law will provide them with. Good as it is, there are those who believe that the amendment did not go far enough. Senate Whip, Senator Olusola Adeyeye, is of the opinion that even younger persons - even those as young as 18 years should not be prevented by age restriction since they enlist in the military at that age and pay the supreme price in some cases. So in his views, “If 18-year-olds can be enlisted in the Army, they should also be able to contest for elective positions. If you are old enough to die for your country, you are not too young to run.” CONT’D ON NEXT PAGE

T H I S D AY • FRIDAY, AUGUST 4, 2017

POLITICS

PERSPECTIVE

Atiku, the North and Restructuring Gideon Dzakwa posits that the North stands to benefit more if it embraces the arguments put forward by former Vice-President Atiku Abubabakar on the need to restructure the country

or some time now, the debate about the restructuring of the country has taken a centre-stage in many political discourse. For many of the protagonists of restructuring, the political economy the country operates currently is convoluted and thus the need to fashion out a new governmental structure that will devolve more responsibilities and resources to the state governments. Proponents of this idea argue that Nigeria had a more functional governmental structure during the first republic in the early 1960s with strong regional governments before the military took over the business of governance. And, since the days the military twisted the country’s federal structure by making the state governments weaker and creating a stronger and domineering central government, agitations have been persistent over the decades about the lopsided nature of the federal arrangement in Nigeria. While some label the agitation on the recourse to true federalism, others call it restructuring and the only difference between the two is merely in nomenclature as true federalism and restructuring essentially talk of the need to restore more strength to the state governments. Indeed, the divergence of opinion between the pro and anti-restructuring elements have remained the distinguishing parameter in the ideological leaning of politicians in Nigeria. The pro-restructuring element are called the progressives and the elements who believe that the current order of lopsidedness should be sustained are known as the conservatives. All along, the agitation for restructuring had been limited in the main to the southern part of the country, and the refusal of the northern political oligarchs to be part of the pro-restructuring dialogue has? largely fed the perception that the north is a principal beneficiary of the status quo. However, the decision of former vicepresident Atiku Abubakar to take a lurch into the restructuring discourse is in itself, paradoxically a restructuring of the political landscape on the topic. This is the first time that a top ranking political figure from the north will be adding a voice to an issue that has remained a southern monologue for almost half a century. So, the question to ask is: what has propelled Atiku to be a party to the musical chairs of restructuring? I have heard quite a number of persons describing his sustained propositions encouraging stronger state or regional governments as being a decoy to appeal to the masses ahead of his interest to contest the 2019 presidential election. Some others even query why he couldn’t champion the cause at the time he served as vice-president of the country. Plausible as these observations might seem, I will

Atiku...a leading voice in the restructuring campaign

prefer to contextualize Atiku’s action on the model of a rational actor participant, instead of reading his action through the lens of some simplistic political reward. As a rational actor, Atiku is probably not unawares of how unpopular the call for restructuring is in the north. He also probably understands that the advocacy of restructuring will seem like undercutting a system of elite patronage across the country for which the elite might choose to bitterly resist and even gang up against him. Being a member of the elite class himself, this is a classic case of class suicide. And it is for this reason that I am tempted to disagree with those who contend that Atiku’s restructuring stance is in view of his likely presidential election politics. In the north where he comes from, restructuring isn’t a political elixir; it’s a poisoned chalice. A rational actor politician wouldn’t

So, if the crude oil receipts that sustain our current political economy is gradually and steadily losing its ﬂavour, isn’t it high time we began to restructure our economy and government?

likely pick on restructuring as a silver bullet. And so, to understand Atiku’s position on restructuring and the chutzpah he has employed to the campaign, we must look beyond politics and see why restructuring actually benefits the north more than the south. It will be an interesting academic research topic, for instance, if we find out the ratio of tax inputs each of the three regional governments in the colonial and postcolonial eras make into the purse of the government at the centre. I strongly contend that if, indeed, agriculture was the mainstay of our national economy before the discovery of crude oil, and it is not improbable that the Northern regional government would be richer than the regional governments in the south combined. And if that is true, it begs the question: why is the north afraid of its golden heritage? In the last half century, Nigeria has expended billions of dollars into building infrastructure aimed at crude oil exploration in the oil producing states of the south. This is in addition to several other MoU and technical support agreements that Nigeria has secured from multinational oil companies to explore crude oil in those states. Fifty years down the line, technology that feeds on crude oil is fast becoming obsolete and so, too, has earnings from crude oil exploration lost its glamour. In fact, it is doubtful if the recorded $30 billion Nigeria makes from crude oil

exploration annually is enough justification for the huge investments the federal government has made through the years as a feasible business model. So, if the crude oil receipts that sustain our current political economy is gradually and steadily losing its flavour, isn’t it high time we began to restructure our economy and government? In the present circumstance, the easiest way out of the impending conundrum is agriculture. And that is where the north is not getting its agenda right viz-a-viz restructuring. In the present circumstance, the north should uncloak itself of the phobia for restructuring, but rather begin to ask questions about restructuring on what terms? By focusing on agriculture, it implies that the tectonic plate of Nigeria’s economy has shifted in a way that favours the northern part of the country. If Netherlands that is not has expansive as Niger State can generate up to $100 billion on agriculture in one year – that is more than three times our annual earnings from crude oil – why then should Niger State not ask the federal government to make sufficient investment in agricultural exploration to the volume of our national investment in oil exploration in, say, Rivers State? The way to go for the north in the emerging reality is to come to terms with the fact that the petro-dollar wealth that had fed our elite is running dry and the situation demands of us to be circumspect to decipher a new frontier for our national wealth. I believe this is the future that Atiku is able to see for the north. As we speak, the bulk of what we consume as food in every part of this country comes from the north. But for the fact that we are a nation that fails to keep reliable statistics, it is very tempting to make the blind conclusion that the cash value of the commodity exchange between the north and the south in respect of food and crude oil, leaves the north with a huge deficit. Truth is that the crux of the dichotomy between restructuring and anti-restructuring forces in the country is the fear of the unknown about what happens when state governments no longer have expectation of cash envelops from Abuja at the end of every month. I do admit that these are very valid fears, and like the saying goes: there is never an easy way out. The challenge is therefore on Atiku and other promoters of the restructuring agenda to espouse a strategy that will give guarantees to states that there survival will not be compromised in a restructured Nigeria. It is a challenge that posterity has placed on us and it is a challenge upon which the north particularly should contemplate on about the way forward. We should not throw away the baby with the bath water. Dzakwa wrote in from Yola, Adamawa State

POLITICAL EMPOWERMENT FOR YOUTHS Governor Ayodele Fayose of Ekiti State would have preferred a complete abolition of age restriction for elective offices. “If a Nigerian, who is 18 years can vote, such a person should also be qualified to be voted for. The electorate, not the law, should determine his fate. Age is not a barrier to intellectual capability. Many countries have been successfully led by young people. General Yakubu Gowon became Head of State at 32,” he recalled, adding that “No nation that can develop without giving its

youths opportunity to serve. There is nothing wrong in a 30-year-old contesting for the presidency. We must give the youths the opportunities early enough because the future belongs to them.” But in a contrary argument, a young Nigerian himself, Dikko Muhammad, in a published opinion titled: ‘The Not Too Young To Run Bill And The Matters Arising’ argued that despite the opportunities the bill offers the Nigerian youth population and the possibilities that it is likely to contribute to

their electoral fortunes in the near future, there are still impediments that may prevent a brilliant young man without a fat purse from maximising the opportunity. “The ordinary young man has no money to spread around even if the forms are given free by the parties. The ordinary ‘nairaless, dollarless’ young man would not get the party nominations because primary elections are up for sales. But the sons and daughters of the same old people he despised would use their parents’

money to get to seats reserved for them by their parents. That would leave us in a Ta-leko-ta-koma situation.” He was also bothered about the fact that most Nigerian youths still have a lot to learn in the area of leadership, saying that most of them are not matured and are not used to criticisms and the kinds of blackmail that come with politicking in the country. However, whatever argument anyone has for or against the proposal, the truth is that younger Nigerians are happy with it.

T H I S D AY Ëž Ëœ Í˛Ëœ 2017

BUSINESSWORLD

Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157

ÍŻ Íś Í° ÍŽ ÍŻ Íľ NIBOR OVERNIGHT 1-MONTH

NIBOR 21.3750% 21.0038 %

3-MONTH 6-MONTH

22.5331% 24.6856%

NITTY 1-MONTH 3-MONTH 3-MONTH

20.1827% 19.3855% 16.2693%

6-MONTH 9-MONTH 12-MONTH

21.3861% 21.5058% 22.4006%

EXCHANGE RATE N305.35//1US DOLLAR* ĚŠ

Quick Takes NDLEA Appoints New Spokesperson

The National Drug Law Enforcement Agency (NDLEA) has appointed Mr. Jonah Achema as its new spokesperson. Until his appointment as Principal StaďŹ€ OďŹƒcer Public AďŹ€airs, Achema was the Assistant CommanderAdministrationandLogisticsattheEnuguStatecommand. He takes over from Ofoyeju Mitchell who has been redeployed to Edo State command. Ofoyeju who headed the Public AďŹ€airs Unit of the NDLEA since 2007 expressed his deep appreciation to the management for giving him the opportunity to serve the country and also thanked members of the media for their overwhelming support. â€œI remain grateful to management for the opportunity to serve this country in the above capacity. I am equally indebted to my colleagues in the media for the immense support I enjoyed during my tenure. I humbly request that you accord my successor full cooperation for him to excel in his new assignmentâ€?. The agency said the posting is in line with established policy of appointments and transfers in the agency. It said the handing and taking over documentation are to be completed on or before August 7, 2017.

Etihad Launches Dreamliner on Soul Route

FRATERNISING WITH OUR CUSTOMERS

L-R: Regional Executive North and Abuja Business Directorate, Mohammed Kawu; Chairman Sub-committee on Finance, Niger State, Hon. Danladi Liman; MD/CEOWema Bank Plc., Segun Oloketuyi; Zonal Manager North Central Zone/North Bank, Aisha Musa; Executive Director Newgate Group of Companies, Hon. Nuhu Alhassan; and Executive Director Retail and Digital Bank, Moruf Oseni, during Wema Bankâ€™s Customer Forum in Minna ... recently

Why Banks Shun Loan Requests from Airlines Chinedu Eze Early collapse of indigenous airlines is the major reason why Nigerian banks refuse to give credit facility to investors in airline operations, Managing Director of Medview Airline, Alhaji Muneer Bankole has said. Bankole, who acknowledged that airline business is precarious, said it has become a policy among Nigerian banks that they would never extend credit facilities to airline operators. The airline operator noted that out of 18 airlines that operated about 10 years ago, only six are still operating today adding, out of that six, two are under threat to go under. He pointed out that there is

AVIATION lack of sincerity among many operators who are not disciplined enough to differentiate between operating funds from personal monies and in the mix they encroach into their capital. This, he said, explains why many airlines find it difficult to offset their loans and when they exhaust their operational funds in frivolous expenses, there are no funds to continue to carry out the airline business. Bankole also said that for an investor into airline business to succeed, he must have passion for the job and sincerity with everyone involved in the business.

â€œWhen I wanted to secure $10 million loan from a major bank in Nigeria, I was refused because they said that they had it as a policy not to give credit facility to airlines because of their precarious situation. They have very short life span. So they refused to give me the loan and I insisted. I had meetings with them and at a time they asked me why Nigerian airlines do not exist for a long time, as obtained in other parts of the world. â€œI explained to them that it is partly due to lack of discipline, lack of determination and inexperience. Some of these operators just come to the industry and decide to establish an airline so they rely on expert

and professional advice from pilots, airline managers and others and most of the time these people are not sincere to these operators. Of course, they will not be as dedicated as you who are committing your money in the business,â€? Bankole said. He said that when these industry professionals are engaged, they most often go into spending spree with the funds made available by the investor and because the investor is inexperienced, he may not know how to adopt cost cutting measures. â€œSo before you know it they Continued on page 20

Africa Seeks Greater Representation in IMO Council Ëž Ă?Ă—Ă‹Ă˜ĂŽĂ? Ă?Ă’Ă‹ĂœĂ? Ă™Ă? Ă‘Ă–Ă™ĂŒĂ‹Ă– Ă—Ă‹ĂœĂ“ĂžĂ“Ă—Ă? ĂžĂœĂ‹ĂŽĂ? The Chairman of the Association of African Maritime Administration (AAMA), Dr. Dakuku Peterside has called for increased representation of the continent in the International Maritime Organisation (IMO) Council and its Secretariat. Peterside made the appeal when he led a delegation of some members of AAMA Executive Committee to meet with the IMO Secretary General, Mr. Kitack Lim at the organisationâ€™s headquarters in London. He stated the need for Africaâ€™s proportionate representation to commensurate with the size of the continentâ€™s membership of IMO. The NIMASA DG also charged

MARITIME African stakeholders in the maritime sector to work together to ensure the continent takes its rightful place in the global maritime community. Africa, he stressed, is a major stakeholder in maritime hence the need to take its rightful place, adding that it can only happen if stakeholders work together. The AAMA chairman said: â€œYou will agree with me that the number of African nations at the council of the IMO is disproportionate to the size of the continentâ€™s representation at the global maritime body, therefore to drive Africaâ€™s maritime sector

development agenda, there is need for a proportionate and effective representation of the continent in council and at the secretariat.â€? Peterside noted the various initiatives embarked upon by the AAMA leadership including cooperation by the member nations in capacity building, to impact on the continentâ€™s maritime sector. While commending the IMO for the technical support so far extended to members on the African continent, Peterside solicited for a Memorandum of Understanding (MoU) between the IMO and AAMA to have an integrated position, adding that this would aid a many African

countries needing technical support. In his response, the IMO Secretary General, Lim lauded the African maritime administrations for their high level organisation and a proactive leadership of AAMA with a drive towards ensuring that Africa maritime sector remains viable. He urged African nations to continue working closely to remain a formidable block that would be of influence in decision making at the IMO. The IMO Scribe pledged to continue to champion greater assistance to developing countries so they will benefit more from Continued on page 20

Etihad Airways has introduced the Boeing B787-9 (Dreamliner) on its scheduled daily service from Abu Dhabi, the capital of the United Arab Emirates (UAE), to Seoul.The aircraft has already started operation to the South Korean capitalâ€™s space-age Incheon International Airport. The airline said the new two-class 787 Dreamliner service replaces the Airbus A340-600 aircraft previously operated on the route, and features Etihad Airwaysâ€™ next-generation Business and Economy Class cabins, conďŹ gured with 299 seats - 28 Business Studios and 271 Economy Smart Seats.Etihad Airways Executive Vice President Commercial, Mohammad Al Bulooki, said, â€œSeoul has been a very successful and popular route for Etihad Airways since it was launched in December 2010 and we are fast approaching our one millionth traveller milestone on the service. â€œThere has been a steady increase in the number of business and leisure travellers ďŹ‚ying to South Korea from Abu Dhabi and the GCC region, and vice versa. The UAE governmentâ€™s initiatives to develop the already strong trade ties between our two countries has allowed many Korean companies to operate successfully here, contributing to the success of Etihad Airwaysâ€™ Seoul Incheon service. Furthermore, many of our customers on the route transit onwards through Abu Dhabi to major destinations on the Etihad network across Europe, the Middle East and Africa.â€œThe addition of more 787 Dreamliners into our ďŹ‚eet has allowed us to upgrade the Seoul service so our customers can enjoy the unique Etihad experience available on this incredible aircraft, and ensuring that we maintain the competitive edge with the innovative cabin and seating designs featured onboard.â€?

Sabre, BA Train Travel Agents

Leading airline distribution solution provider, Sabre Network West Africa and British Airways have collaborated to train the yet to be certiďŹ ed travel agents by the International AirTransport Associationâ€™s (IATA) in the country. The two organisations said the training was necessaryinordertoreduceerrorsandsuspiciousbookingsemanating fromtheagents,whichtheysaidiscostingtheregisteredandcertiďŹ ed IATAtravelagentslossofseveralmillionsofnairamonthly.Ataone-day training held in Lagos with the theme: â€˜Do It Right,â€™ the travel agents were exposed to the latest technologies in the global aviation industry and how they could improve their revenue base especially at a time when most of the airlines have adopted the zero commission policy on it air tickets. Speaking at the training, the Deputy General Manager, SabreNetwork,Mr.OlusojiIsholanotedthat60percentofbusinesses lie in the hands of the uncertiďŹ ed IATAâ€™s agents, stressing that for the sector to grow, such agents should not be shoved aside. He lamented that due to the errors of the unregistered travel agents, airlines give IATAâ€™s registered agents Agency Debit Memo (ADM), which runs into several millions of naira monthly. He explained that Sabre decided to intervene in the situation in order to reduce losses incurred by the airlines, adding that several un-ticketed bookings, duplicated booking of passengers and numerous sharp practices are traced to the yet to be certiďŹ ed agents, saying that these paint the industry in bad light before the travelling public and even the international carriers.

â€œYou will agree with me that the number of African Nations at the council of the IMO is disproportionate to the size of the continentâ€™s representation at the global maritime body, therefore to drive Africaâ€™s maritime sector development Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA)

Dakuku Peterside

T H I S D AY Ëž Ëœ Í˛Ëœ 2017

BUSINESSWORLD WHY BANKS SHUN LOAN REQUESTS FROM AIRLINES

will expend your money but if you are experienced you will know how you will spend your money, what you will spend your money on and you will have the discipline not to deep your hand into the revenues earned from ticket sales. I want to use myself as a test case. I was able to get that $10 million loan and we used it to acquire two aircraft and later paid the loan back. So we demystified the banks,â€? Bankole added. The Medview Airline boss warned that operators to be careful in managing revenues from tickets because those monies are from passengers many of whom might have purchased their ticket in advance and such revenues are warehoused and should not be spent. â€œAviation is safe, fast and secure. The beauty and the success of any airline is discipline. I donâ€™t see the airline money as my money; neither is the revenues generated because customers buy tickets in advance. So what we did was to open account with no cheque book and all revenues go to that account. â€œMost of the success of the airline is based on discipline. We are succeeding because we went into diversification. We operate Hajj, Umrah and we also operate charter. AFRICA SEEKS GREATER REPRESENTATION IN IMO COUNCIL global maritime trade. He promised to liaise with technical staff of IMO and get back to AAMA on the various requests made. Speaking on the need for Africa to have its fair share of global maritime trade, he said: â€œAfrica is a major stakeholder in maritime so we must take our rightful place and that can only happen if we work together, and these cooperation issues would be brought to the front burner during the meeting of the Executive committee of AAMA coming up in September in Egypt .â€? Lim also noted that AAMA has put in place policies that will enhance African maritime administrations working as a block to get a better share of the global maritime trade beginning with representation at the IMO.

Group Business Editor

Ă’Ă“Ă•Ă‹ Ă—Ă‹Ă˜Ă¤Ă?Ě‹ ĂĄĂ‹Ă?Ă’Ă&#x;Ă•Ă&#x; AgriBusiness/Industry Editor

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NEWS

CSJ: Predicating 2018 Budget on 2.3mbpd Shows Nigeriaâ€™s Fixation on Oil Rents Ndubuisi Francis in Abuja The Centre for Social Justice (CSJ) has faulted the proposed 2.3 million barrels per day (mbpd) oil production benchmark for the 2018 budget, saying it is a demonstration of Nigeriaâ€™s continued fixation on oil rents. The frontline civil society group noted that it was an increase from the 2.2 million approved in 2017. â€œHowever, with proposed cuts by the Organisation of Petroleum Exporting Countries (OPEC), this production volume seems ambitious and may not be realistic in the circumstances. â€œEven if we have the capacity to produce this volume, the dynamics of the international oil market may not likely allow us to produce this much. â€œFurther, fixing the oil benchmark price at $45 is overly optimistic. Developments in technology and climate change dynamics point to a progressive reduction in demand for crude oil over the next coming years. The benchmark may not be realised,â€? the group said in its preliminary response to last weekâ€™s unveiling of the parametres contained in the Medium Term Expenditure Framework (MTEF) 2018-2020. The Minister of Budget and National Planning, Senator Udoma Udo Udoma had at a public dialogue on the 2018-2020 MTEF in Abuja, with various stakeholders disclosed that next yearâ€™s proposed aggregate budget of N7.9 trillion would be predicated on a $45 per barrel of oil, 2.3mbpd oil production,

an exchange rate of N305/$, 12.42 inflation rate, and a 4.8 per cent GDP growth rate. Others are a nominal GDP of N133.97 trillion, N81.60 trillion nominal consumption, and fiscal deficit of N2.77 trillion as against N2.35 trillion in 2017. In its response to the 2018 parameters, CSJ also noted that fiscal deficit is expected to rise to N2.77 trillion in 2018 from the current N2.35 trillion in 2017. â€œThe statement credited to

the minister that â€œwe are maintaining our deficit and debts within sustainable limits. Debt financing will be restructured gradually in favour of foreign financing as part of a strategy to lower debt service burden and free up more fiscal space for the private sectorâ€? is a bit contradictory.â€? CSJ argued that more foreign borrowing at a time of currency volatility, when exports are falling, may not be the best option in borrowing.

Citing the Monetary Policy Committee of the Central Bank of Nigeria in its July meeting, CSJ pointed out that the federal government incurred a deficit financing of N2.51trillion in the first half of the year. â€œProrating with this dynamic will create a deficit exceeding N5 trillion at the end of the year 2017. This does not appear sustainable in the short, medium to the long-term. Our debt is growing in geometric propor-

tions without infrastructure and regenerative capital investments to show for it as demanded in the Fiscal Responsibility Act,â€? the group added. On the projected 4.8 per cent growth rate in 2018, CSJ argued that for a country that is still in recession in the third quarter of 2017 to be planning to do 4.8 per cent growth in 2018 would be a dramatic and quantum leap which the economy has not been sufficiently primed to do.

FOR A HITCH-FREE 2017 HAJJ

Kaduna State Governor, Mallam Nasir El-Rufai, (right) being received by Managing Director/Chief Executive OďŹƒcer, Med-View Airline, Alhaji Muneer Bankole, during the ďŹ‚ag oďŹ€ of 2017 Hajj Operations of Med-View Airline at Kaduna International Airport ... recently Abiodun Ajala

IYC Berates FG over Neglect of Nâ€™Delta Ports, StiďŹ‚ing Policies Eromosele Abiodun The National Executive of the Ijaw Youth Council (IYC) has berated the federal government over what it described as deliberate abandonment of sea ports in Port Harcourt, Warri, and Calabar. The IYC also accused the federal government of imposition of high tariffs and implementation of stifling policies aimed at sabotaging the economy and marginalising the good people of the Niger Delta region. The IYC stated this in a statement signed by its National Spokesman, Henry

Iyalla, which was obtained by THISDAY. According to the IYC, â€œIt is quite pathetic to see that the only sea port in operation in the country today is that of Lagos State. According to a newspaper report on the 31st of July, 2017, no fewer than two million containers laden with various cargoes worth over 5trillion are currently stranded at the Lagos Port, with several vessels waiting to berth as if the country lacks sea ports with the capacity to satisfy the demands of the industry. â€œWe therefore condemn, in totality, the huge infrastructural

decay, high disparity on cargo charges and deliberate stifling policies against the Niger delta ports, compared to her Lagos counterpart; regrettably this has brought about sustained underutilization of ports within the region, reduced economic gain and mass unemployment of youths. The Onne port which seems to be the only vibrant port in the region is strictly mandated to focus on oil and gas-related cargo, which makes their charges astronomically high; even when non-oil cargos are charged, they are charged as if they are oil-related which is not good for business in this era of economic recession.â€?

The IYC therefore, called on the federal government and the Minister of Transportation, Rotimi Amaechi, to as a matter of urgency, put in place modalities for the re-habitation and full operational use of all the moribund ports within the Niger Delta region as a show of interest in the overall economic development of the Niger Delta people. Furthermore, the group urged the government in power to call the relevant regulators and agencies to order and mandate them to put seamless policies in place so that importers from Onitsha, Aba, Port Harcourt and environs

will not be made to go through the current stress of passing their goods through Lagos, a situation that shouldnâ€™t be considering the long distance. According to the IYC, the Nigerian Ports Authority (NPA) and Nigeria Shippers Council (NSC), as regulators, should strive to bring down the charges, take a cursory look at the stifling policies. They also called on the regulators to address the infrastructural deficit so that Niger Delta ports can be vibrant to reduce unemployment in the region and provide an alternate route for cargoes, while Lagos port is decongested.

Missing Vessels: NPA Restates Commitment to Anti-corruption War Eromosele Abiodun Following the allegation by the Senate Committee on Customs, Excise and Tariff that 282 vessels got missing under the watch of the Nigerian Ports Authority (NPA) between 2010 and 2016, the management of the NPA has vowed to do everything within its power to support the investigation to get to the root of the matter. The NPA stated this in a statement signed by its Principal Manager, Public Affairs, Ibrahim Nasiru. Specifically, the NPA restated

its commitment to every single effort aimed at sanitising operations at the ports, adding that it will co-operate with all stakeholders and arms of government in the achievement of same. According to the agency, â€œOn Thursday, July 20, 2017, the Senate Committee on Customs, Excise and Tariff handed over documents containing a list of 29 items which are a combination of vessels and details of individual Bill of Ladings of consignments carried by different vessels to representatives of NPA for review. â€œOn July 24, 2017, the NPA

received another set of 10 volumes of items numbering 1-1252 alleged to have been transported by vessels said to have called at the NPA. This was delivered to the Authority by the Nigerian Shippers Council on the instructions of the Senate Committee.â€? It added: â€œThe NPA has reviewed the documents as requested by the Committee and has made the following discoveries: Of the 29 items handed over to the NPA on July 20, 2017, only five vessels were identifiable. We discovered that the other 24 items are repetitions

of the five vessels that were identified. A report to this effect with relevant supporting documents evidencing payment of all charges for the five vessels has been forwarded to the Senate Committee as requested. â€œConcerning the 10 volumes of items numbering 1-1252 handed over to the NPA by the Nigerian Shippers Council, the NPA was unable to conduct a meaningful review as the documents did not provide the data that will enable verification. â€œFor the purpose of clarification, the documents

provided did not have the following: No vessel names were provided, no dates of arrival of the vessels were given (This makes it impossible for us to establish links with the manifest, bill of lading and consignee), no port of call and name of terminal where vessel berthed were provided, no rotation number of vessels was supplied.â€? The authority added that it has conveyed these observations to the Senate Committee and looks forward to receiving the required information to enable full investigation.

T H I S D AY Ëž Ëœ Í˛Ëœ 2017

BUSINESSWORLD

NEWS

MARADs Set to Tackle Piracy, Maritime Crimes Eromosele Abiodun The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has stated that Maritime Administrations (MARADs) in Africa are set to tackle piracy, sea crime and illegal migration on the continent. The NIMASA boss, who disclosed this in a chat with maritime journalists, said the continent through its leaders have put in place the necessary framework to tackle all forms of criminalities, which will guarantee safety and security of lives and property and help harness the benefits of the blue economy. According to him, â€œSome of the instruments being proposed

to tackle crimes include: the Africa Integrated Maritime Strategy (AIMS) 2050, the YaoundĂŠ Code of Conduct, the Djibouti Code of Conduct and the Lome Charter amongst other strategiesâ€?. Speaking further, Peterside hinted that as part of its Medium Term Goals, AAMA as a body intends to partner non-governmental organisations (NGOs), who are involved in rescue operations on the sea and international partners to tackle the challenge of migration by sea. He also added that in order to stem the tide of illegal migration, the association is in the process of empanelling studies in selected African countries on illegal migration to enable them provide empirical data to

the African Union for action. â€œLet me assure you that African Maritime Administrations are determined to tackle the challenges in the maritime sector to maximise the benefits of the blue economy, but Africa and Africans are the ones to lead the search for solution to the problems plaguing African Maritime domain; the support of the International community will only be complimentary to the effort of Africansâ€?, he averred. It may be recalled that the 22nd Ordinary Session of Heads of States and Governments adopted the 2050 AIM Strategy and its Plan of Action, including a roadmap for the incremental implementation of the strategy,â€? he said.

German Medical University to Partner Firm on Healthcare in Akwa Ibom A German based University Clinics, â€œUniversitĂ¤tskrankenhaus Eppendorfâ€? (UKE) has announced it would partner a world class medical university, Thompson & Grace Medical University and hospitals to further enhance medical facilities and healthcare in Akwa Ibom and reduce medical tourism in Nigeria. This partnership was announced recently in a statement made available to THISDAY. According to the statement, a delegation from Germany would sign a Memorandum of Understanding (MoU) with UKE and Thompson & Grace Medical University on August 3. The agreement shall set the frame for a close collaboration between the two signing entities in the planning, building and managing of both the Thompson & Grace Medical University and the Thompson & Grace Hospital. The delegation from Germany slated to attend this MoU consists of Prof. Dr. med.

Uwe Koch-Gromus, Dean of the Medical Faculty of the University of Hamburg; Prof. Dr. med. Ansgar Lohse, Vice-Dean and Director of the University Clinic of Hamburg (UKE); and Prof. Dr. med. Frank Riedel, one of Europeâ€™s most acknowledged Pediatricians and for more than two decades Medical Director of Hamburgâ€™s University Clinicâ€™s Childrenâ€™s Hospital. The three experts are joined by project consultants from Germany and the US. Dr. Isaac Thompson Amos will lead the Thompson & Grace Group team to sign the MoU.On arrival to Nigeria, the team will be welcomed by the Ambassador of the Federal Republic of Germany in Nigeria in Abuja, H.E. Ambassador Bernhard Schlagheck, and on his invitation, will hold a briefing session on both the project of Thompson & Grace Medical City and the bilateral collaboration. The German Government represented by the Federal Ministry for Economic Development and Collaboration

supports the project through technical and organisational advice. In Abuja, Uyo and other region of Akwa Ibom, the delegation is slated to visit several hospitals to witness how healthcare is set up and delivered in Nigeria and to understand issues affecting the advancement of healthcare in Nigeria. Furthermore, during a one-day workshop, the German experts will discuss their assessment with members of the Nigerian and West-African Healthcare Community, Local and Multinational Corporate Representatives, and Community Leaders. This conference will be held in the Niger Delta at Le MĂŠridien Ibom Hotel & Golf Resorts, Uyo in Akwa Ibom State, Nigeria. The delegation will round-up its assignments with courtesy calls on the Hon. Commissioner for Health, Dr. Dominic Ukpong, and the Executive Governor of Akwa Ibom State, Mr. Udom Gabriel Emmanuel.

LCCI Applauds Removal of Customs Check-Points on Highways Jonathan Eze The Lagos Chamber of Commerce and Industry (LCCI) has lauded the recent directive from the Nigeria Customs headquarters removing all customs check-points outside 40 kilometers of the nationâ€™s land borders. The Customs hierarchy had issued a directive that all checkpoints outside the ports areas be removed with effect from 11th August 2017. In a statement signed by LCCI Director General, Mr. Muda Yusuf, the chamber noted that it is a major step towards the realisation of the councilâ€™s

mandate of promoting the ease of doing business in Nigeria. The statement reads in part: â€œMany traders and individual car owners had suffered untold hardship because of the numerous checkpoints on the highways in various parts of the country mounted by operatives of the Nigeria customs service. â€œThe streamlining of their operations is therefore a welcome development. Their activities are many times arbitrary, especially on issues of vehicle valuation and documents certifications on the highways, which often results in extortion. â€˜â€™The development is a

clear demonstration of the responsiveness of the present administration to complaints of the private sector on business environment issues. It is also complements earlier Executive Orders issued by the acting President, Prof Yemi Osinbajo. â€˜â€™The LCCI in collaboration with other private sector bodies will monitor and track the implementation of this directive. It is imperative to ensure compliance, and the cooperation of the private sector is needed to make this happen. This directive to streamline the checkpoints within the country will bring about many advantages.â€™â€™

RISK MANAGEMENT WATCH Robert Mbonu

Enterprise Risk Management Challenges Despite a lot of conversation about Enterprise Risk Management (ERM), business leaders are constantly faced with the challenges of its implementation. Mark S. Beasley, CPA, Ph.D., a professor, thought leader, and well respected writer on ERM, raised some points speaking at an international risk management conference in June, he reminded that the issues most business leaders face as they help lead their organisationâ€™s ERM efforts are similar. Therefore, working together to address these challenges is in our collective best interests. Some of the points noted include the following:The Speed of Information Exchange is Elevating the Need for More Robust Risk Oversight The rapid pace of how information is exchanged and disseminated means news about a particular event can affect an organisationâ€™s reputation and brand at frightening speed. Organisations no longer have the luxury of time to engage in decision-making to craft their strategic response once news about a risk event is released. In many cases a single risk event is attached to other unrelated risk events that when combined rapidly begin to erode the organisationâ€™s reputation and brand. To address this reality, some organisations are working proactively to more robustly consider their organisationâ€™s responses to its top risks allowing them to think through strategies of managing these risks well in advance of an actual event. Developing an inventory of responses to top risks and vetting the effectiveness of those responses may pay significant dividends when immediate action is required. Risk Management Leaders Need to Speak the Language of the Business Like many professions, those who lead an organisationâ€™s risk management efforts often develop their own language that they use to communicate with others. Conversations about likelihood, impact, inherent and residual risks, risk appetite and risk tolerances become commonplace among risk management leaders, but they may not be well understood by others in the business. Risk management leaders should speak the language used by those in their audience. Business leaders are focused on boosting margins, achieving objectives and goals, and advancing the business and that usually affects how they think and the language they use. To address this, some risk management leaders are rethinking the language and jargon they employ to ensure that they are being heard and understood by business unit leaders. The Complexity of Business May Outweigh an Individualâ€™s Capacity to Assess Risks Geopolitical events, cyber threats, disruptive innovation, regulatory shifts, and changing social demographics represent just a sampling of issues that may trigger significant risks for an organisation. Any one of these risk drivers is complex in and of itself, but the emerging reality is that any of these risk drivers may be related to or trigger other risks, only adding to the complexity of the risk management challenge. In many situations, the number of factors that need to be evaluated to accurately assess a riskâ€™s likelihood or impact may outweigh any one individualâ€™s capacity. The value of embracing a more holistic and team-based enterprise-wide approach to risk identification and assessment, is recommended. A collection of minds for varied perspectives on complex risk issues may be needed to face the realities of todayâ€™s

business environment. Risk Oversight and Strategy Need to be Better Integrated A common challenge faced is the apparent disconnect between an organisationâ€™s risk management and strategic planning activities. Unfortunately, in many organisations, risk management is viewed as a compliance or regulatory activity that needs to be done to satisfy some external demand for risk management. Often that means risk management is relegated to a lower-level, non-strategic position that addresses important, but not strategy-defeating issues. For some reason, business leaders continue to struggle to remember the important connection between â€œrisk and return.â€? As a result, the organisationâ€™s risk management efforts are not adequately integrated with strategic planning. Business leaders must understand the importance of risk management, and how it can be positioned to provide strategic value. The solution is to start the conversation with what is strategically important to the organisation, and then asking what might prevent that from being successful. Overlooking Ethical Culture May Lead to an Organisationâ€™s Biggest Risk Business culture varies across organisations and it is important to understand how an organisationâ€™s culture might affect its ERM efforts. Understanding what values are important among the leaders of the organisation may shed insights as to the willingness organisational leaders may have to take certain risks. While most organisations have a set of defined business values, sometimes managementâ€™s behaviors and decisions may not reflect those stated values. Recognising when those differences potentially exist and calling attention to those disconnects may be risk managementâ€™s most important contribution, and will require the support of those in key governance roles, such as the board of directors. Overall, ERM can be complex, the aim should be to make it easier to understand and realise. ERM programs and frameworks are by nature detailed and painstaking, requiring pragmatic and realistic approaches to implementing. One important aspect is to keep it simpleâ€”complex is not necessarily comprehensive or better, as the framework needs to be understood by a wide group of stakeholders. Avoid the tendency to try to replicate the successes of others. While it is important to learn from the successes and failures of others, it is generally unwise to try to replicate an entire framework, wholesale. Institutions are only as good as the people in them. Real capacity building through expert training is the key to a sustainable program. Strong, consistent leadership is the keyâ€” ERM is always driven from the top. ERM implementation takes time and money, if done well. Get good advice. Do not rely entirely on internal staff, no matter how good they are. Get the best, external advice from certified experts. It will save money in the long run. t.CPOV '&31 $*3. 6, )$*# .T3. 4UFSO TUVEJFE &OHJOFFSJOH JT BO FYQFSJFODFE #BOLFS BOE &OUFSQSJTF 3JTL .BOBHFNFOU QSPGFTTJPOBM &BSOFE B QPTU HSBEVBUF EFHSFF JO 3JTL .BOBHFNFOU GSPN /FX :PSL 6OJWFSTJUZ 4UFSO 4DIPPM PG #VTJOFTT BOE JT B NFNCFS PG UIF *OTUJUVUF PG 3JTL .BOBHFNFOU 6, $BO CF SFBDIFE PO 4.4 0OMZ FNBJM SN SJTLNHU!HNBJM DPN

T H I S D AY ˾ ˜ Ͳ˜ 2017

BUSINESSWORLD

AVIATION

AIR WATCH

‘Nigerian Airlines have Capacity to Airlift All Pilgrims’ Stories by Chinedu Eze Managing Director of Medview Airline, Alhaji Muneer Bankole has said that Nigerian airlines have the capacity to airlift over 70, 000 pilgrims for Hajj if given the opportunity. This, he said is because those in that service have become efficient and could deploy aircraft at short notice for the operations. Bankole made this known in an interview recently during the inaugural airlift of pilgrims from the Kaduna International Airport, Kaduna. He explained that the number of pilgrims approved for Nigeria by the Saudi Arabia authorities was 95,000 but due to recession, the pilgrims that could afford this year’s Hajj was about 70, 000 pilgrims. “Today we have strong partners. Max Air, for example, has about three airplanes which carry almost 500 passengers each. Med- View has three which carries about 1000 per day. If you put all these together and multiply by the number of days we have, the number of pilgrims are less for the Nigerian carriers to carry. I repeat; it is less for us

to carry. But we are always open to competition which makes us to believe in our partner, our friend from the Kingdom of Saudi Arabia,” Bankole said. At the flag off of the Hajj operations from Kaduna, Medviewairlifted a total of 1, 140 pilgrims from the Kaduna International Airport. The airline started with the first batch of 460 pilgrims on board its Boeing 747-400 aircraft flight 3110 which took off on Tuesday and later the same day airlifted a batch of 220 on its Boeing 767-200ER flight 3118. The Managing Director who saw the pilgrims off along with the Minister of State, Aviation, Senator Hadi Sirika and the Governor of Kaduna state, Nasri El-Rufai, explained that the airline has done everything to ensure that the pilgrims’ flights would be hitch free and enjoyable from takeoff to landing at Saudi Arabia. Sirika who commended Bankole for his invaluable efforts of operating a successful airline, also met with the pilgrims who prayed for him and the Managing Director of

Medview Airline for making the Hajj airlift possible, The governor wished them well and enjoined them to be good and law-abiding representatives of the state. Also, Speaker of the Kaduna State House of Representatives, Aminu Abdullahi Shagali spoke to the pilgrims during the flag-off of the airlift and explained that the state government has put everything in place to ensure that the hajj was hitch free. He enjoined the pilgrims to comport themselves in dignity in the Holy land while commending their level of understanding during the last time out. “Hajj is for those who are able to physically and financially. The problem of hajj became a thing of the past in Kaduna state as government has put in measures to ensure it is hitch free. Kaduna state provides the best so far; your conduct during last year’s hajj was highly commendable and so let me enjoin you to continue in that trend and be good ambassadors of Kaduna state and Nigeria as a whole,” he said.

NAMA Boss Calls for Synergy among States in Flight Information Region The Managing Director of the Nigerian Airspace Management Agency (NAMA) Capt. Fola Akinkuotu has advocated enhanced synergy among states in the African and Indian Ocean (AFI ) flight information region, noting that this would further improve the safety profile and aeronautical information service within the area. Akinkuotu who made the remark at a five-day Air Traffic System Investigator Workshop hosted by the agency in Lagos, noted that NAMA on its part, would strive towards building regional bridges in order to keep pace with latest trends, especially in air traffic management in a dynamic aviation industry, adding that “such regional cooperation becomes more compelling with the International Civil Aviation Organisation (ICAO) goal of entrenching

harmony and seamlessness in every facet of International Civil Aviation.” While commending ICAO for availing Nigeria the opportunity to host the workshop, Akinkuotu said the benefits of the meeting are enormous as “the workshop would provide participants with knowledge and skills of Air Traffic System (ATS) incident reporting and investigation especially for operational personnel of Air Navigation Service Providers such as NAMA.’’ “The quality of air navigation services, particularly air traffic services has been subjected to integrity tests going by the streams of Air Safety Reports received from our airspace users. The quality of incidents investigation on the other hand should impact positively on the corrective action plan that would

minimise future re-occurrence, in a just culture environment, which is the essence of this workshop.” Akinkuotu said. Also, the Director General of the Nigerian Civil Aviation Authority (NCAA), Capt. Muhtar Usman who was represented by the Director of Aerodrome and Airspace Standards, Mr. Mohammed Odunowo stated that global economic and demographic statistics indicate that Africa would experience significant increase in population, expansion in economic activities, as well as increased demand for air transport services in the near future. He stressed that “while the above trend indicates great potential and opportunities for the African economy as well as aviation sector,.

FG, KSG Commend Ethiopia Airlines Operation to Kaduna The Minister of State, Aviation, Senator Hadi Sirika and the Governor of Kaduna state, Nasir El-Rufai have commended Africa’s most profitable airline, Ethiopia Airlines for choosing Kaduna as its fifth destination in Nigeria. They spoke on Tuesday during the inaugural flight of the airline to the Kaduna International Airport, Kaduna, which recently witnessed improved facilities, as it served as alternate airport for the Nnamdi Azikiwe International Airport, Abuja when the later was shut down for six weeks for the rehabilitation of its runway. The duo assured the airline

of federal government and state government support as the airline fulfilled its promise to operate to the capital of the North West Nigeria. THISDAY learnt that the Ethiopian Group, which is a member of Star Alliance colourfully marked the 20th anniversary of Star Alliance, the largest global airline network, while also inaugurating its maiden flight to Kaduna, at a reception held at Ethiopian main hub Addis Ababa Bole International Airport. Ethiopian Group CEO, Mr. Tewolde GebreMariam and Star Alliance CEO, Mr. Jeffrey Goh had graced the event; discussing on-going developments and

the Alliance’s strategy for the next decade with Ethiopian employees. While addressing attendees of the celebration, Group CEO Ethiopian Airlines, Mr. Tewolde GebreMariam remarked, “We are glad to celebrate this momentous occasion at Ethiopian and wish all members of the Alliance a Happy 20th Anniversary. We are sincerely honoured and are very thankful for Mr. Jeffrey for joining us here today. Dedicated to innovation for a thriving customer experience across the Alliance’s network, Star Alliance has benefited member airlines and customers with its worldwide reach.

Sustaining Facility Upgrades at Airports

t is expected that soon the new airport ÞÏÜ×ÓØËÖ ËÞ ÌßÔË˜ ËÑÙÝ ËØÎ ËØÙ ËÓÜÚÙÜÞÝ would be put to use as the projects are ØÏËÜÓØÑ ÍÙ×ÚÖÏÞÓÙØ˛

Ø ÞÒÏ ÚËÝÞ ÞáÙ ãÏËÜÝ˜ ÞÒÏ ÏÎÏÜËÖ ÓÜÚÙÜÞÝ ßÞÒÙÜÓÞã ÙÐ ÓÑÏÜÓË ̙ ̚ ÒËÎ ÝÞÜÓàÏØ ÞÙ meet international standard practices in airport ÝÏÍßÜÓÞã˜ ÐËÍÓÖÓÞËÞÓÙØ ËØÎ ÚÏÜÝÙØØÏÖ ÎÏàÏÖÙÚ×ÏØÞ in order to see the major airports in the country ÍÏÜÞÓʨÏÎ˛ ÒÏÝÏ ÏʥÙÜÞÝ ÜÏÍÏÓàÏÎ Ó×ÚÏÞßÝ áÓÞÒ ÞÒÏ ÏâÏÍßÞÓàÏ ÙÜÎÏÜ ÐÜÙ× ÞÒÏ ÐÏÎÏÜËÖ ÑÙàÏÜØ×ÏØÞ ÞÙ ÏØÒËØÍÏ ÞÒÏ ÏËÝÏ ÙÐ ÎÙÓØÑ ÌßÝÓØÏÝÝ˛ ÓØÍÏ ÞÒÏ ËÎÙÚÞÓÙØ ÙÐ ÞÒÓÝ ØÏá ÚÙÖÓÍã˜ ÞÒÏÜÏ ÒËÝ ÌÏÏØ Ë ÞßÜØËÜÙßØÎ ÓØ ÝÏÍßÜÓÞã ×ËØËÑÏ×ÏØÞ ËÝ áÏÖÖ ËÝ ÓØ ËʵÓÞßÎÏ ÞÙ áÙÜÕ Ìã ÞÒÏ ÝÞËʥ ÙÐ ÞÒÏ ËÑÏØÍã˛ ÖÝÙ˜ ÓØ ÙÜÎÏÜ ÞÙ ÏØÝßÜÏ ÞÒËÞ ×ÙÜÏ ÓØÞÏÜØËÞÓÙØËÖ ËÓÜÖÓØÏÝ ÍÙ×Ï ÞÙ ÓÑÏÜÓË ËØÎ ÞÙ ÙàÏÜÍÙ×Ï ÞÒÏ ÍÙ×ÚÏÞÓÞÓÙØ ÐÜÙ× ÝÓÝÞÏÜ ÍÙßØÞÜÓÏÝ˜ ÎÏÍÓÎÏÎ ÞÙ ßÚÑÜËÎÏ ÞÒÏ ×ËÔÙÜ ËÓÜÚÙÜÞÝ ÓØ ÞÒÏ ÍÙßØÞÜã ÞÙ ×ÏÏÞ ÞÒÏ ÑÓàÏØ ÍÜÓÞÏÜÓË ÓØ ÙÜÎÏÜ ÞÙ ÍÏÜÞÓÐã ÞÒÏ ËÓÜÚÙÜÞÝ Ìã ÞÒÏ ØÞÏÜØËÞÓÙØËÖ ÓàÓÖ àÓËÞÓÙØ ÜÑËØÓÝËÞÓÙØ ̙ ̚˛ ËÜÖÓÏÜ ÞÒÓÝ ãÏËÜ ÌÏÐÙÜÏ ÞÒÏ ÏâÏÍßÞÓàÏ ÙÜÎÏÜ áËÝ ÓØÞÜÙÎßÍÏÎ˜ ÞÒÏ ËÍÞÓØÑ ÜÏÝÓÎÏØÞ˜ ÜÙÐ˛ Ï×Ó ÝÓØÌËÔÙ àÓÝÓÞÏÎ ÞÒÏ ßÜÞËÖË ÙÒË××ÏÎ ØÞÏÜØËÞÓÙØËÖ ÓÜÚÙÜÞ ̙ ̚ ÓØ ËØ ßØÝÍÒÏÎßÖÏÎ ÓØÝÚÏÍÞÓÙØ áÒÏÜÏ ÒÏ ÏØÛßÓÜÏÎ ËÌÙßÞ ÞÒÏ ÚÜÏÚËÜÏÎØÏÝÝ ÙÐ ÞÒÏ ÓÑÏÜÓËØ

××ÓÑÜËÞÓÙØ ÏÜàÓÍÏ ÞÙ ÓÝÝßÏ àÓÝË ÙØ ËÜÜÓàËÖ ÐÙÜ ÐÙÜÏÓÑØ ÓØàÏÝÞÙÜÝ áÒÙ áÓÝÒ ÞÙ ÎÙ ÌßÝÓØÏÝÝ ÓØ ÓÑÏÜÓË˛ ÓØàÏÝÞÓÑËÞÓÙØ ÒËÝ ÜÏàÏËÖÏÎ ÞÒËÞ ÞÒÏ ËÓÜÚÙÜÞ ÒËÝ ÝÞËÜÞÏÎ ÓÝÝßÓØÑ àÓÝË ÙØ ËÜÜÓàËÖ ËØÎ ÞÒÓÝ ÒËÝ ÝÓÑØÓʨÍËØÞÖã ÜÏ×ÙàÏÎ ÞÒÏ ÎÓʩÍßÖÞÓÏÝ ÐÙÜÏÓÑØÏÜÝ ÒÓÞÒÏÜÞÙ ÏâÚÏÜÓÏØÍÏÎ ÌÏÐÙÜÏ ÙÌÞËÓØÓØÑ ÓÑÏÜÓË˪Ý àÓÝË˛ ÖÝÙ Ìã ÎÙÓØÑ ÞÒËÞ ÓÑÏÜÓË ÓÝ ÐÙÖÖÙáÓØÑ ÞÒÏ ÐÙÙÞÝÞÏÚÝ ÙÐ ÒËØË˜ áËØÎË˜ ÏØãË ËØÎ ÞÒÓÙÚÓË áÒÓÍÒ ÒËàÏ ÌÏÏØ ÓÝÝßÓØÑ àÓÝË ÞÙ ÓØÎÓàÓÎßËÖÝ áÒÙ áÓÝÒ ÞÙ ÎÙ ÌßÝÓØÏÝÝ ÓØ ÞÒÙÝÏ ÍÙßØÞÜÓÏÝ ËÝ ÞÒÏã ÒËàÏ ÜÏËÖÓÝÏÎ ÞÒËÞ ÞÒÏã ÒËàÏ ÞÙ ÙÚÏØ ßÚ ÞÙ ÌÏØÏʨÞ ÐÜÙ× ÓØÞÏÜØËÞÓÙØËÖ ÓØàÏÝÞ×ÏØÞ áÒÓÍÒ ÒÏÖÚÝ ÞÙ ÎÏàÏÖÙÚ ËØã ØËÞÓÙØ˛ ˫ ÒÏ ËÍÞÓØÑ ÜÏÝÓÎÏØÞ áËÝ ÎÏÞÏÜ×ÓØÏÎ ÞÙ ÌÜÓØÑ ÍÒËØÑÏÝ ÓØ ÞÒÏ àÓÝË ÚÜÙÍÏÝÝ ËØÎ ÒÏ ×ËÎÏ ÝßÜÏ ÞÒËÞ ÏàÏÜã ÒßÎÎÖÏ áËÝ ÜÏ×ÙàÏÎ ÐÙÜ ÑÏØßÓØÏ ÌßÝÓØÏÝÝ×ÏØ ËØÎ áÙ×ÏØ áÒÙ áÓÝÒÏÎ ÞÙ ÎÙ ÌßÝÓØÏÝÝ ÓØ ÓÑÏÜÓË˜ˬ Ë ÝÙßÜÍÏ ÞÙÖÎ ˛ ÓØàÏÝÞÓÑËÞÓÙØ ËÖÝÙ ÜÏàÏËÖÏÎ ÞÒËÞ ÞÒÏ ÓØÞÏÜØËÞÓÙØËÖ ÞÏÜ×ÓØËÖ ÙÐ ÞÒÏ ËÑÙÝ ËÓÜÚÙÜÞ ÓÝ ØÙ ×ÙÜÏ ÍÜÙáÎÏÎ˜ Ë ÎÏàÏÖÙÚ×ÏØÞ˜ áÒÓÍÒ ÞÒÏ ÝÚÙÕÏÝÚÏÜÝÙØ˜ ÜÝ˛ ÏØÜÓÏʵË ËÕßÌß ÍÙØʨÜ×ÏÎ˜ ØÙÞÓØÑ ÞÒËÞ ÞÒÏ ËÑÏØÍã ÒËÝ ÍËÜÏÐßÖÖã ÎÜÓàÏØ ËáËã ÞÙßÞÝ ËØÎ ÙÞÒÏÜ ÚÏÙÚÖÏ áÒÙ ÎÙ ØÙÞ ÒËàÏ ËØãÞÒÓØÑ ÞÙ ÎÙ ËÞ ÞÒÏ ËÓÜÚÙÜÞ˛ ˫ Ð ãÙß ÑÙ ÞÙ áÓÞÒÙßÞ ÌÙËÜÎÓØÑ ÚËÝÝ˜ ÙØ ÎßÞã ÍËÜÎ ãÙß áÙØ˪Þ ÌÏ ËÖÖÙáÏÎ ÞÙ ÏØÞÏÜ ÞÒÏ ÞÏÜ×ÓØËÖ˛ Ù ÞÒÏÜÏ ÓÝ ØÙ ×ÙÜÏ ÞÙßÞÝ ËÞ ÞÒÏ ËÑÙÝ ËØÎ ÌßÔË ËÓÜÚÙÜÞÝ˛ Ø ÐËÍÞ˜ áËØÞÝ ÞÙ ÏÝÞËÌÖÓÝÒ Ë ÍÙßÜÞ at these two major airports where touts would be ÞÜÓÏÎ Ó××ÏÎÓËÞÏÖã ÞÒÏã ËÜÏ ÍËßÑÒÞ˛ ˫ àÏÜãÞÒÓØÑ ËÌÙßÞ ÞÒÏ ÞáÙ ËÓÜÚÙÜÞÝ ÒËÝ ÍÒËØÑÏÎ˛

Ø ËÑÙÝ áÏ ÒËàÏ ÍÒËØÑÏÎ ÞÒÏ ÍÒÓÖÖÏÜÝ ËØÎ áÏ ËÜÏ ÝßÚÚÙÜÞÓØÑ ÞÒÏ ÍÒÓÖÖÏÜÝ áÓÞÒ ÚÙÍÕÏÞÝ ÙÐ ËÓÜ ÍÙØÎÓ-

ÞÓÙØÏÜÝ ËØÎ ãÙß ÍÙßÖÎ ÝÏÏ ÞÒËÞ Ë ÖÙÞ ÙÐ ÜÏØÙàËÞÓÙØ ÓÝ ÑÙÓØÑ ÙØ˛ Ï ËÜÏ ÜÏÚÖËÍÓØÑ ÞÒÏ ÍÏÓÖÓØÑ ÌÙËÜÎÝ ÓØ ÞÒÏ ÚßÌÖÓÍ ÍÙØÍÙßÜÝÏ ËØÎ áÏ ËÜÏ ÜÏÚËÓØÞÓØÑ ËØÎ ÜÏÖË×ÚÓØÑ ÞÒÏ ÞÏÜ×ÓØËÖ ÝÙ ÞÒËÞ áÒÏØ ãÙß ÍÙ×Ï ÓØ ÞÒÏ ØÓÑÒÞ ÏàÏÜãáÒÏÜÏ áÓÖÖ ÌÏ áÏÖÖ ÓÖÖß×ÓØËÞÏÎ˜ˬ ËÕßÌß ÝËÓÎ˛ ÒÏ ÝËÓÎ ÞÒËÞ ÞÒÏ ÍËÜÙßÝÏÖÝ ̙ÍÙØàÏãÙÜ ÌÏÖÞÝ̚˜ áÒÓÍÒ ÞÏØÎ ÞÙ ÎÏÖËã ÞÒÏ ÌËÑÑËÑÏ ×ÙàÏ×ÏØÞ ËÜÏ ÌÏÓØÑ ÜÏÚÖËÍÏÎ ËØÎ Ìã ÞÒÏ ÞÓ×Ï ÞÒÏ ÍËÜÙßÝÏÖÝ ËÜÏ ÐßÖÖã ÐßØÍÞÓÙØËÖ˜ ÓÞ áÙßÖÎ ÞËÕÏ ÚËÝÝÏØÑÏÜÝ ËÌÙßÞ ͯͮ ×ÓØßÞÏÝ ÙÜ ÖÏÝÝ ÞÙ ÍÙÖÖÏÍÞ ÞÒÏÓÜ ÖßÑÑËÑÏ˛ ËÕßÌß ËÎÎÏÎ ÞÒËÞ ÞÒÏ ÏâÏÍßÞÓàÏ ÙÜÎÏÜ ÙÐ ÞÒÏ ÐÏÎÏÜËÖ ÑÙàÏÜØ×ÏØÞ ÒÏÖÚÏÎ ÞÙ ÌÏÏÐ ßÚ ÝÏÍßÜÓÞã ËÞ ÞÒÏ ËÓÜÚÙÜÞÝ ÎÏÝÚÓÞÏ ÞÒÏ ÐËÍÞ ÞÒËÞ ÞÒÏ ÝÏÍßÜÓÞã ÚÙÓØÞÝ ÒËàÏ ÌÏÏØ reduced for easy facilitation and to ensure that ÚËÝÝÏØÑÏÜÝ ÝÚÏØÎ ÖÏÝÝ ÞÓ×Ï ÑÙÓØÑ ÞÒÜÙßÑÒ ËÓÜÚÙÜÞ ÝÏÍßÜÓÞã ÝÍÜÏÏØÓØÑ˛ ÏÝÓÎÏÝ ÞÒÏ ÏËÝÏ ÙÐ ÎÙÓØÑ ÌßÝÓØÏÝÝ˜ ÒËÝ Ó×ÚÜÙàÏÎ ÞÒÏ ËÓÜÚÙÜÞÝ ÓØ ÙÜÎÏÜ ÞÙ ×ÏÏÞ ÞÒÏ ÞËØÎËÜÎÝ ËØÎ ÏÍÙ××ÏØÎÏÎ ÜËÍÞÓÍÏÝ ̙ ̚ for the certiﬁcation of the aforementioned major ËÓÜÚÙÜÞÝ˛ ßÞ ÞÒÏ ÛßÏÝÞÓÙØ ÓØÎßÝÞÜã ÙÌÝÏÜàÏÜÝ ËÝÕ ÓÝ˜ áÓÖÖ be able to sustain the standard in order to continue to retain the certiﬁcate status and also meet the ÏâÏÍßÞÓàÏ ÙÜÎÏÜ ÙÐ ÞÒÏ ÐÏÎÏÜËÖ ÑÙàÏÜØ×ÏØÞˣ ÝÚÙÕÏ ÞÙ ÞÒÏ ËØËÑÓØÑ ÓÜÏÍÞÙÜ ÙÐ ÞÒÏ ËÑÏØÍã˜ ËÖÏÒ ßØÙ×Ë ÙØ ßÏÝÎËã ÓØ ËÎßØË ÙØ ÒÙá ÓØÞÏØÎÝ ÞÙ ÝßÝÞËÓØ ÞÒÏ ÚÜÏÝÏØÞ ÏʥÙÜÞÝ ÞÒËÞ ÒËàÏ ÝÓÑØÓʨÍËØÞÖã Ó×ÚÜÙàÏÎ ÞÒÏ ËÓÜÚÙÜÞÝ˛ Ï ÝËÓÎ˝ ˫ Ï áÏØÞ ÞÒÜÙßÑÒ ÞÒÏ ÚÜÙÍÏÝÝ ÙÐ ÍÏÜÞÓʨÍËÞÓÙØ ËØÎ áÏ ÒËàÏ ÖÏËÜØÞ Ë ÖÙÞ ÙÐ ÖÏÝÝÙØÝ ÐÜÙ× ÓÞ ÙØ áÒËÞ áÏ ØÏÏÎ ÞÙ ÎÙ˜ áÒËÞ áÏ ØÏÏÎ ÞÙ ÚßÞ ÓØ ÚÖËÍÏ˛ Ï ÒËàÏ ËÖÝÙ ËÖÙØÑ ÞÒËÞ ÖÓØÏ ÚÖËØØÏÎ ÙØ ÒÙá ÞÙ ÝßÝÞËÓØ ÓÞ Ìã ×ËÕÓØÑ ËÎÏÛßËÞÏ ÚÜÙàÓÝÓÙØÝ ÞÙ ×ËÕÏ ÝßÜÏ ÞÒËÞ ËÖÖ ÞÒÏ ÓÞÏ×Ý ÞÒËÞ áÏÜÏ ÍÖÙÝÏÎ˜ ËÝ ÎÓÜÏÍÞÏÎ Ìã ˜ ËÜÏ ÕÏÚÞ ÍÖÙÝÏÎ ËØÎ ËØã ÙÞÒÏÜ ÓÞÏ× ÞÒËÞ ×Ëã ÌÏ ÙÚÏØÏÎ ËÝ Ë ÜÏÝßÖÞ ÙÐ ÙÚÏÜËÞÓÙØÝ ÓÝ ÍÖÙÝÏÎ˛ ˫ Ù áÏ ËÜÏ ÑÙÓØÑ ÞÙ ÝÏÞ ËÝÓÎÏ ÝÚÏÍÓËÖ ÐßØÎÝ ÞÙ ×ËÕÏ ÝßÜÏ ÞÒËÞ áÏ ÝßÝÞËÓØ ÞÒÏ ÍÏÜÞÓʨÍËÞÓÙØ˜ ÞÙ ×ËÕÏ ÝßÜÏ ÞÒËÞ áÏ ÞÜËÓØ ÙßÜ ÝÞËʥ˜ ÞÙ ×ËÕÏ ÝßÜÏ ÞÒËÞ áÏ ßÚÎËÞÏ ÙßÜ ÎÙÍß×ÏØÞËÞÓÙØÝ˜ ÞÙ ×ËÕÏ ÝßÜÏ ÞÒËÞ ËÖÖ ×ËÓØÞÏØËØÍÏ ÚÜÙÑÜË××ÏÝ ËÜÏ ËÎÒÏÜÏÎ ÞÙ˛ Ù ÞÒÓÝ ÓÝ ÞÒÏ ÙØÖã áËã áÏ ÍËØ ÝßÝÞËÓØ áÒËÞ áÏ ÒËàÏ ÎÙØÏ˛ˬ Ø ÞÒÏ ÍÒËØÑÏÝ ÞÒËÞ ÒËàÏ ÞËÕÏØ ÚÖËÍÏ ËÞ ÞÒÏÝÏ ËÓÜÚÙÜÞÝ˜ ÞÒÏ ÌÙÝÝ ÝËÓÎ ÞÒËÞ Ë ÖÙÞ ÙÐ ÍÒËØÑÏÝ ÒËàÏ ÞËÕÏØ ÚÖËÍÏ ˫ÌÏÍËßÝÏ ËÖÖ ÞÒÏ ÞÒÓØÑÝ áÏ ÞÒÙßÑÒÞ áÏÜÏ ÍÜÓÞÓÍËÖ ÓØ ÞÏÜ×Ý ÙÐ ÙßÜ ÙÚÏÜËÞÓÙØÝ ÒËàÏ ÌÏÏØ Ó×ÚÜÙàÏÎ ßÚÙØ ËØÎ ÞÒÏ ÚËÝÝÏØÑÏÜÝ ÏàÏÜãÎËã ÍÙ××ÏØÎ ÞÒÏ ÏʥÙÜÞÝ ÙÐ ÞÒÏ ßÞÒÙÜÓÞã˛ˬ Ï ËÎÎÏÎ˝ ˫ Ï ÒËàÏ ÖÏËÜØÏÎ ÞÒËÞ áÒÏØ ãÙß ËÖÖÙá ÖÓʵÖÏ˜ ÖÓʵÖÏ ÞÒÓØÑÝ ÞÙ ÓØÐÜÓØÑÏ ÙØ ãÙßÜ ÙÚÏÜËÞÓÙØÝ ÖÓÕÏ ÝÓ×ÚÖÏ ÎÙÍß×ÏØÞËÞÓÙØ˜ ÓØÍÖßÎÓØÑ ØÙÞ ÑÏʵÓØÑ ÞÒÏ ÜÓÑÒÞ ÚÒÙØÏ Øß×ÌÏÜ ÍÙßÖÎ ÌÏ ÍÜÓÞÓÍËÖ ÞÙ ÝËÐÏÞã ÌÏÍËßÝÏ ÎßÜÓØÑ Ï×ÏÜÑÏØÍã ËØÎ ãÙß áËØÞ ÞÙ ÍÙØÞËÍÞ ÝÙ×ÏÌÙÎã ÞÙ ÝÙÖàÏ ÞÒÏ ÚÜÙÌÖÏ× ÌßÞ ãÙß ÎÙØ˪Þ ÒËàÏ ÞÒÏ ÜÓÑÒÞ Øß×ÌÏÜ˜ Ó×ËÑÓØÏ áÒËÞ áÓÖÖ ÒËÚÚÏØˣˬ ÓÞÒ ÞÒÏ ÍÏÜÞÓʨÍËÞÓÙØ ÙÐ ÞÒÏ ËÑÙÝ ËÓÜÚÙÜÞ ËØÎ ÝßÌsequently the other major airports in the country and áÓÞÒ ÞÒÏ ÓØÞÜÙÎßÍÞÓÙØ ÙÐ ÞÒÏ ÏËÝÏ ÙÐ ÎÙÓØÑ ÌßÝÓØÏÝÝ˜ ÓÑÏÜÓË áÓÖÖ ÝÙÙØ ÏØÔÙã ÞÒÏ ÌÙÙ× ÙÐ ÒÓÑÒ ʮÓÑÒÞ ÞÜËʩÍ ËÞ ÓÞÝ ËÓÜÚÙÜÞÝ˛

T H I S D AY ˾ ˜ Ͳ˜ 2017

BUSINESSWORLD

AVIATION

How African Airlines Took Advantage of Nigeria’s Recession Whereas many international carriers scaled down their operations to Nigeria due to the recession that adversely affected the value of the naira, African airlines defiantly maintained their services and made significant inroads into the market, writes Chinedu Eze As at May last year, about $575 million revenues earned by foreign airlines was trapped in Nigeria. But the Central Bank of Nigeria (CBN) has significantly liquidated the said sum now. The inability of the airlines to repatriate their funds from 2015 prompted them to take critical decisions about their operations in Nigeria. Similar thing happened in Venezuela, Angola and Egypt. Some of these countries depend on oil export for their GDP and so were hit by the collapse of oil prices in the international market. The economic recession in Nigeria forced Iberia and United Airlines to abort their operations to Nigeria while the likes of Emirates, British Airways, Delta Air Lines and others to scale down their operations. While Emirates reduced its three flights a day to Nigeria to one, BA, Delta and others changed the aircraft type to that of lower capacity, as the economic crunch inflicted hardship on Nigerians and many stopped travelling overseas. So with limited passenger traffic, crash in the value of the Naira and uncertainty about Nigeria’s economic recovery, many of these mega carriers became ensconced on how to recover their trapped funds and also on how to stop more of their revenues from being trapped. They vainly searched for loopholes to directly sell their tickets in dollars, against the policy that passengers that wish to buy tickets in the local currency must be attended to. Sometimes they went as far as declaring a flight fully booked to those who wished to pay in the local currency. For whatever reasons, there was a time Emirates refunded passengers billed to travel to Brazil with the airline and cancelled their tickets because they bought the tickets with local currency. African Carriers Except Kenya Airways which stopped operations to Abuja due to the economic recession in 2016, other African airlines continued to operate to Nigeria and even introduced new planes on the route. They continued to promote their flights and continued to entice the travelling public with new products. In fact, it was at this time that African World Airlines (AWA) broke fully into the Nigerian market, increasing its frequency to Lagos and recently started operations to Abuja, as Asky increased its frequency to the nation’s capital. So while international mega carriers reduced their frequencies and capacities to Nigeria; Africa airlines upped the ante and continued to operate despite the economic crunch. This has attracted more customers to these regional airlines that now it has become obvious that the international carriers are losing their customers to them. They have lost them in Abuja where some have stopped operating to and in Lagos where they have cut down their operations. In addition to their inconsistency, these airlines also charge relatively outrageous fares that are sometimes over 50 percent higher than the fares charges by African carriers. Hostility Travel expert, Ikechi Uko told THISDAY that more Nigerians are attracted to African airlines now because of the way the mega carriers treated the market during the recession, noting that while these international carriers showed hostility to the market, the African airlines responded positively to the recession. “The behaviour of the international airlines seemed to indicate that they felt the Nigerian economy would not rebound. That attitude helped the African airlines. Ethiopia Airlines, South Africa Airways and Rwand Air introduced new aircraft on the Nigerian route. Ethiopian introduced the Dreamliner, Boeing 787 to the Nigerian market in 2015 and it also introduced the latest Airbus, A350 XWB to Nigeria earlier this year; Rwand Air introduced new Airbus

A330-200 immediately after delivery to Nigeria and South Africa Airways also introduced a new aircraft, A330-200. “While the international carriers pulled out during the period Abuja airport was closed; it was Ethiopia Airlines that landed first in the alternative airport in Kaduna at huge cost on logistics, but that showed the commitment of the airline to its Nigerian operation. And when the Abuja airport was reopened, Ethiopia was the first commercial flight that landed at the airport with A350XWB,” Ikechi recalled. He confirmed that African airlines charge relatively lower fares compared to the international carriers and while these mega carrier were obsessed with recovering their trapped funds and cutting losses, Ethiopia Airlines, which had so much of its revenues also trapped in Nigeria, remained unfazed and continued to do business in the country. It was the same with South Africa Airways. He also observed that international airlines adjusted the classes of their tickets as part of recovering their funds and concentrated on premium fares and subtly insisting on selling in dollars, at a time the African airlines still accepted local currency from passengers and also offered relatively cheaper fares. But a source also told THISDAY that the mega carriers like BA, Air France, KLM, Virgin Atlantic, Delta Air Lines, Emirates and others have traditional customers from Nigeria who stick to them. The source observed that most of these airlines operate old equipment but they have built invaluable reputation on safety and service standard that is a permanent attraction to a cross section of Nigerian travellers. “They operate mainly classics (old aircraft) but the older Nigerians prefer to travel with them because theirs is a very, very experienced system. They manage the minds, not the passengers,” the source said. Speaking on Emirates, an insider told THISDAY that the Middle East airline is yet to figure out what to do with the Nigerian market, “which they invested a lot of resources in but they scaled down their operations and now the market forces has almost eliminated them. They are no more where they were few years ago. The airline does not have patience with countries suffering recession because I gathered it also scaled down its operation in Angola,” the source said.

US Routes With the departure of United Airlines and later the withdrawal of Arik Air from New York route, African airlines made inroad to the US market from West Africa. While South Africa Airways uses Accra to operate to Washington, Ethiopia operates to the same city through Lome and Nigeria is the target market. In fact, Uko said that Ethiopia got extra opportunity with the exit of United Airlines, noting that Washington has become the most profitable route from West Africa for these airlines, remarking that “passengers from Nigeria fly to Accra and Lome to travel to the US with these airlines,” adding that although these airlines operate to the US from outside Nigeria “but Nigeria cannot be ignored because it has the largest market in West and Central Africa.” The travel expert who regretted that while Nigerian passengers air airlifted to international destinations from outside the shores of the country; however, expressed hope that a Nigerian leadership may in future do the right thing by creating good operational environment for these airlines. Operational Environment Many Nigerians who travel regularly have excoriated the nation’s airports, saying that they are not conducive for flight operations. However, they acknowledged that the security arrangement made recently has reduced the time spent on passenger screening. Uko spoke in the same vein, saying the operational environment was not conductive “but there is improvement with the reduction of screening points, but the truth is that the airport is tired.” Improving Safety It is now well known that African airlines have improved their safety standards as safety records in air transport in the continent have significantly improved. In fact, passengers who travel with the airlines in the region have become more confident and assured, thus pushing away the old fears and anxiety that becloud travelling with many African airlines. Few years ago, the continent has the worst records in terms of safety but this has been changing as many of the operators embrace the highest safety standards. The Vice-President, International Air Transport

Association (IATA), African Region, Raphael Kuchi told THISDAY during the recent IATA AGM in Cancun, Mexico that many African airlines have embraced the IATA Operational Safety Audit, which is a very high safety certification. “The good news is that throughout the conference, probably for the first time in many, many years you haven’t heard Africa mentioned in relation to air accidents, which shows that a lot of things are happening positively in Africa. To start with, traffic is continuing to grow and IATA 20 year forecast indicates that Africa is going to be the fastest growing region in the next 20-35 years and about 5.1 percent growth year in year out. In addition to that, I am sure you all read the media release of IATA about our safety record in Africa which is unprecedented with zero loses for last year (2016). “That is also very impressive. We have also got a number of African airlines which now come onboard IATA Operational Safety Audit (IOSA). And I will be taking the message to the government that much as we have seen safety improve since the Abuja Declaration (which made IATA Safety Audit mandatory for African airlines) targets to be met were announced in 2012,” Kuchi said. He urged African states to help the region’s airlines to continue to improve and expand capacity and advised that states should stop introducing multiple taxes on airlines; rather, they should support the airlines because without their support the airlines would not prosper as envisaged. “One of the provisions of the Abuja declaration (that African airlines must obtain IOSA citification to enable them to operate) was that states should make the Abuja Declaration an integral part of AOC (Air Operator Certificate) renewal for airlines. We haven’t seen that in many countries, so we will want African governments to ensure that when you are renewing airlines’ AOC, you ensure that they have IOSA and that the IOSA is valid. Now if we do that, then we are going to ensure that once you are on the IOSA registry you must keep on it otherwise you will not get your next AOC registration,” Kuchi said. Many industry operators believe that when this is achieved and with the planned open skies for Africa, the regional carriers will effectively compete and wrest the African market from European, Middle East and US carriers.

T H I S D AY Ëž Ëœ Í˛Ëœ 2017

X-raying Bala Usmanâ€™s First Year at NPA Eromosele Abiodun posits that the Managing Director of the Nigerian Ports Authority, Ms. Hadiza Bala Usman has performed creditably well since her appointment a year ago, but stresses that the port access roads remain an eyesore On July 12 last year, THISDAY exclusively reported that in a bid to inject a fresh pair of hands to run the Nigerian Ports Authority (NPA), the Minister of Transportation, Mr. Chibuike Amaechi, had submitted Ms. Hadiza Bala Usmanâ€™s name to President Muhammadu Buhari to take over as the new managing director (MD)of NPA. A few days after, THISDAYâ€™s report was confirmed as Buhari appointed Bala Usman the MD of the NPA. With her appointment, Bala Usman, only 40 then, became the first female chief executive of a top tier federal government agency and of the NPA. She took over from Alhaji Habib Abdullahi, who was reinstated by Buhari in August 2015 as the MD of NPA, after he had been shown the exit by former President Goodluck Jonathan in April 2015. However, the news of her appointment rattled the maritime sector as many feared the radical change the co founder of the Bring Back Our Girls (BBOG) would bring to the industry. Some critics had argued that she did not have the experience to run such a huge enterprise having only worked at the Bureau of Public Enterprise (BPE) before being appointed chief of staff to the Kaduna state governor. Some critics were not convinced that Bala Usman possesses the required skill and experience to pilot the affairs of such extensive and multi-faceted organisation. However, all the doubts now appeared to have been put to rest as the NPA boss has, in her first year, in office recorded significant achievements. Top industry players in the maritime sector believe she has performed well, stressing that the maritime sector will never be the same again given the reform embarked upon by Bala-Usman. That is not all, Nigerian ports said to be one of the most expensive in the world and have frustrated stakeholders and businesses over the years, are now changing as those issues are being addressed. Implementing Executive Orders In line with the executive order issued by acting President Yemi Osinbajo, Bala-Usman has taken steps to make doing business easier and cheaper across the nationâ€™s seaports. In an interview with newsmen recently, she said the NPA, under her leadership, would review the tariffs charged by terminal operators in order to reduce the cost of doing business at the ports. The NPA, she revealed, was working on a review of the concession agreements entered with terminal operators about 11 years ago, to align the agreements with global best practices. According to her, â€œOur port concessions have been a success story, we need to acknowledge that the Landlord Model that has been in place over the last 11 years has been successful. But we are working to review the concession agreements, as we have said. There are various sections of the agreements that are not being adhered to. â€œThere are various areas of obligations that both parties have not adhered to. To the extent that the NPA has critical obligations within the concession agreements that we need to abide by,â€? she said. NPA boss added that the concessionaires also have critical obligations, which in certain instances, they have not complied with. Anti Corruption Fight One of the key mandates given to the NPA boss was to rid the agency of corruption and restore sanity. She has been doing so. The MD disclosed that some of its technical partners in its joint venture companies recently sanctioned in a Swiss Court for bribing NPA officials to defraud the federal government would be investigated and prosecuted by the Economic and Financial Crimes Commission (EFCC). Bala-Usman said NPA had asked for guidance from the Attorney General of the Federation on its continued relationship with the entities in view of their sanctioning in the Swiss Court for corruption. Swiss prosecutors had recently named four former Nigerian government officials in a multinational bribe scandal relating to contract awards at NPA. The former Nigerian government officials were indicted alongside Dredging

strong factor in the need for port investment to boost efficiency, build robust, responsive and competitive port economy in tune with global best practices. She said development and upgrading existing port infrastructure as well as improvement in performance had become imperative. In countries like North America, Europe and Asia Pacific, she said, growing container market has led to incremental upgrade of the existing port infrastructure with container handling automation already put in place to handle large carriers with up to 18,000 TEU. To achieve this, the NPA has partnered the Port of Miami, United States, to boost export and trade facilitation programme of the federal government.

Bala-Usman

International, one of the technical partners that was sentenced to a fine of one million Swiss Francs and directed to refund 36 million Swiss Francs in illegal profits for allegedly making the illicit payments to the Nigerian officials. Dredging International Services is one of the technical partners of Bonny Channel Management Limited (BCML) that runs the Bonny Channel Company (BCC) with the NPA in a joint-venture â€“ public-private partnership. Speaking on the issue, Bala-Usman said: â€œRecently we had a situation where one of our technical partners in our joint venture companies was sanctioned in a Switzerland court for being said to have bribed officials of the NPA over a period. We have obtained the Swiss court sanctioning and forwarded same to the EFCC for further investigation on the persons and the entities that were said to have benefited from the graft. We have also forwarded the Swiss court documents to the AGF office for them to guide us on our continued relation with this entity in view of the sanctioning that it has gotten from the Swiss court for corrupt practices with NPA officials.â€? On the measures put in place to fight corruption at the nationâ€™s ports, she stated that, â€œFor every corrupt practice that we identify, we forward to the EFCC to investigate and determine what prosecution process they will embark upon. When we identify a legal concern whereby there is a lack of clarity on the role of government or there is a seeming disadvantage that has been provided to the Nigerian people, we have forwarded to the Antony General to provide legal guidance on how we can exit some of these relationships. â€œA lot of the corruption practices that we have identified within the port operation are attributable to certain contractual obligations the NPA has entered with entities whereby the federal government is short-changed. We are working at reviewing such agreements and we are working on terminating some of the agreements. We have reached out to the relevant agencies and communicated our position on this.â€? Open Budget System Another major achievement recorded by BalaUsman is the implementation of open budget system and implementation of a public data dissemination programme. In a bid to rid the agency of corruption, the NPA, had signed a Memorandum of Understanding (MoU) with BudgIT, an information technology network firm to provide Nigerians with all the necessary information during its budget preparation and implementation. The MoU, which was signed not too long ago by the management of the NPA and BudgiT, will assist NPA in promoting transparency and accountability in all its operations. Speaking at the occasion, Bala- Usman said that the partnership became necessary for the development of an open budget system platform and implementation of a public data dissemination programme that would help the agency in blocking revenue leakages. BudgiT, she said, had achieved feats in the space of socio-technological advocacy towards opening up of public budgets for citizensâ€™ comprehension.

With the MoU, she said, NPA would be able to deliver on its mandate and create more wealth for Nigerians. The MoU, Usman added, would also assist the NPA as a critical organ in the economic artery of the nation to promote effective and efficient management of all its 24 terminals across the country. Standard Operating Procedure In a move that stakeholders believe will transform the industry, Bala Usman championed and launched the harmonised Standard Operating Procedures (SOP) and Port Service Support Portal (PSSP) designed to stem corrupt practices and ensure a user-friendly port. The SOP is a collation of operational procedures of all maritime government agencies, shipping companies, terminal operators, freight forwarders, associations and other stakeholders. The PSSP, on the other hand, is a complaint management portal for operators to lodge complaints if any agency fails to follow the SOP. This is anchored by the Nigerian Shippersâ€™ Council. Minister of Transportation, Mr. Rotimi Amaechi flagged off the open air launch of the SOP Amaechi who was represented at the launch by the Bala Usman noted that this project was a follow-up to the initial launch of the project in Abuja on June 2016. He said that the SOP and the PSSP were a direct response to a Corruption Risk Assessment (CRA) report on Nigerian seaports released in 2013 by the Independent Corrupt Practices and other Related Offences Commission (ICPC) labelling Nigeria the most corrupt port in the world. The report had alleged that it takes over 79 signatures of government officials to clear a consignment from Nigeriaâ€™s seaports. The report was the outcome of a four-month corruption assessment study carried out by the ICPC in conjunction with the Technical Unit on Governance and Anti-Corruption (TUGAR) and the Bureau of Public Procurement (BPP) with the support of United Nations Development Programme (UNDP). The CRA was carried out at the six ports in Nigeria: Tin Can, Apapa, Warri, Calabar, Onne and Port Harcourt. The report, however, recommended that stakeholders should jointly implement integrity plans to strengthen transparency and accountability towards enhanced service delivery. Ports Infrastructure For regular visitors to the ports across the country, it is no longer news that decaying ports infrastructure has become worrisome. However, the NPA, under Bala-Usman, has also embarked on efforts to boost revenue generation through the provision of infrastructure and technologically up-to-date equipment at the ports. Part of her plan is to reposition the ports industry to play its key role as the gateway to the nationâ€™s economy. Speaking at the Executive Business Networking Seminar organised by NIMPORT in Lagos, she said the federal government was making efforts to reposition the ports in line with global trends. Growth in trade volumes, she said, was a

Revamping the Railway In addition, the NPA has taken steps to ensure that goods are moved in and out of the ports through the railway line that stopped operating several years ago. To achieve this, the agency has partnered the Nigerian Railway Corporation (NRC) to improve rail facilities from the Lagos ports to the hinterlands. During her tour of terminals in the Apapa Port, she said that the effort would necessarily improve the trade chain as the railway can be used to move large quantities of consignments real time.â€œRegarding infrastructure, we are keen on ensuring that our rail lines from the ports to the hinterlands function. We want to prioritise the evacuation of cargo using rail. We have had discussions with the Nigerian railway corporation. We are going to continue on that, and we believe that a percentage of our cargo should be evacuated using the rail lines,â€? the NPA MD said. Stakeholdersâ€™ View Major stakeholders in the maritime sector unanimously agreed that Bala-Usman has performed well but stressed the need to fix port access roads. For instance, the Executive Vice Chairman/Chief Executive Officer of ENL Consortium Limited, operators of Terminals C and D of the Lagos Port Complex, Apapa and Chairman of Seaport Terminal Operators Association of Nigeria (STOAN), Vicky Haastrup told THISDAY that Bala-Usman has effectively changed the sector for good. She said: â€œI not surprised that she has done well in just a few days. I have checked her record and she is an exceptionally intelligent woman right from when she was at the BPE. I have asked people who had working relationship with her and they have all spoken well of her. From what she has done within the short time she has spent and from what I have heard her said, I think she will do well. She is a woman of due process, she believes in the rule of law, in doing things well and she is not biased. I want to give her the benefit of doubt. I went somewhere to lobby about the ban on certain items and I was told she has been there to do the same thing.â€? Haastrup added: â€œI never met her, we never compared records but she is making the same effort to turn around our sector. What I want her to do is ensure that the NPA fulfills its own part of the concession agreement. Pilottage is key to our operation, enabling environment is key. All the things that the NPA needs to do as our counterpart in the concession, she should see to it that the NPA does them. â€œI was told she has informed them in house to seat up and stop blaming the operators for everything, comments like that gladdens my heart. I think she wants to come and make an impact. Men have done it in the past but we have a woman now and I can tell you that she will do well.â€? Also, the National President of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Lucky Amiwero hailed her for entrenching due process in ports operations. He, however, called on the NPA boss to pursue the passage of the port and harbour bill currently before the national assembly. He also commended her for making effort to address port concession crisis and putting an end to monopoly in the industry.

T H I S D AY FRIDAY AUGUST 4, 2017

WEEKLY PULLOUT

WEEKEND Acting Features Editor: Charles Ajunwa Email: charles.ajunwa@thisdaylive.com

LIVING | P31

COLLAGE | P36

THISLIFE | P37

FILE

OWUâ€™S GOLDEN SON ACTING EDITOR CHARLES AJUNWA / charles.ajunwa@thisdaylive.com

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Owu’s Golden Son Solomon Elusoji writes wri about the journey of one man to royal stardom On the first of July, in Owu-Ijebu, Ogun State, three men stood before the Olowu of Owu-Ijebu, Oba Segun Adesina, to be b conferred as chiefs of the kingdom. One of the men was Femi Adewunmi, A who was to be named Otunba Atunluse of Owu-Ijeb Owu-Ijebu. Dressed in white flowing garment, he looked resplendent at the th ceremony amid chants of adulation and glory. The Owus have a rich history. It is said that they descended from Ile-Ife, the ancestral home of the Yoruba tribe. The first Olowu was a grandchild to Oduduwa, the progenitor of Y Yoruba-land. When his mother, who was Oduduwa’s first daugh daughter, would bring Olowu to the palace, the child would pull the ccrown from his grandfather’s head. And each time Oduduwa oblige obliged and place the crown on his head, the little boy would start to chuckle. chu So the elders reasoned that the child could not live together in the same town with Oduduwa and the latter created a separat separate kingdom for his grand-son, beginning the Owu lineage. But, at a point in time, there was a quarrel between Owu and its neighbours and they had to scatter all over to place places as diverse as what is now known today as Kwara State, Lago Lagos State and Ogun State. At the annual Owu convention, at least 40 to 50 crowned Owu Ow Obas are usually in attendance. The Owu Owu-Ijebu community happens to be one of those Owu settlements. They’ve been there since 1836. Adewunmi is a descen descendant of one of the former kings of th the Kingdom, Oba Olugboyega II, w who reigned from 1921 to 1956 an and who was the first educated Oba O in Ijebuland. His grandfa grandfather was the first son of Oba Olugboyega and was renow renowned for his uncommon g generosity, a trait many who were interviewe interviewed for this article asc ascribed to the young A Adewunmi. His late father was an elder eld brother to the p present father o th of the kingdom, Ob Oba Adesina. “ W h e n th their father (A (Adewunmi’s g grandfather) d died, as far b back as 1934, th their mother rere-married and gav gave birth to me,” O Oba Adesina told THISDA THISDAY. “So we’ve been very close. But the man was so nice, so good. And since he didn didn’t live long enough for him to be given all tthis honour, his first son ought to be recog recognised. And Femi has similar behaviour to his father: very generous, anytime you ask him to do something that has to d do with the development of the commun community, he will eexcel ex cel in it, even more than you expect him to. We are just paying a little bit back of what his father has done d for the community.” “My dad had a lot of passion for tthee town, and I want to continue th con from tthat th hat place and see how I can add value,” A dewunmi said. “I want to give back Adewunmi

and put Owu on the map.” The Otunba-ship will provide him a platform to do just that, as he would be expected, as Atunluse, to contribute generously to community projects and anything that has to do with the progress of the society. Turning point Adewunmi’s journey to becoming an Otunba, and a distinguished gentleman, was not straightforward. He grew up privileged, born into opulence. But he was restless as a child, exhibiting traits he, himself, described as “rascally”. One of his childhood friends, a gentleman who also has blue blood running in his veins and who is into state government consultancy, Bode Oki, confirmed this to THISDAY. “When we were young, he was probably the most rascally,” he said. “if we were a group, he had to lead. While we were in the scout, he was always asking questions and running around. Amongst us, he was the first that started driving, earlier than the most of us. He must have been about 12. While he was in school, he was nicknamed ‘Palaver’.” This ‘rascality’ affected his education, but it did not stop him. Although he was born in the United Kingdom, he attended Maryland Convent and Comprehensive High School, Aiyetoro, before attending Kaduna State Polytechnic in the late eighties. After Kaduna, he attended Staffordshire University, studying Marketing, before moving to Switzerland, where he acquired a Masters in Business Administration from Geneva University, specialising in Procurement and Logistics. After his MBA, he worked all over the United Kingdom – Heinze, National Express, First Group, Western House – before returning to Nigeria, after being recruited by Notore Chemicals to handle the company’s procurement division. The turning point of his life, he told THISDAY, was the death of his mother, which shifted his focus. “Losing my mum when I was in my early 20s was very painful,” he said. “I was very close to her. Even though I was a bit playful, she had a lot of confidence and trust in me. She knew I would turn around one day. It was a tough time for me. But I also used it as an inspiration. The things she had always wanted me to do while she was there, I started doing them. Things like being more serious academically and being more focused with my career. It was like my payback to her.” A tenacious dreamer After working at Notore Chemicals for about six years, Adewunmi saw a gap in the logistic chain. Notore was based in Onne, so they usually experienced a lot of logistics challenges because all the deliverables had to be routed through Lagos, before being hauled to the riverine community. “We felt like we didn’t have control over the process, because it was in remote Lagos,” Adewunmi said. “So, in 2014, I insisted that they had to bring it in through Port Harcourt Airport. They told me they could bring it into Port Harcourt Airport, but couldn’t bring it into Onne, because they don’t have a structure on ground. So I thought ‘if I put a structure, you guys will come’.” So he decided to build a structure, which morphed into a full-fledged company called PrimePort Logistics. When he started the company, sometime in 2014, he didn’t have huge amounts of money and a lot of people told him that it was an idea that could not work, since logistics was an industry dominated by cartels. But Adewunmi, who had ran a bar business while he was in the United Kingdom, is a tenacious dreamer. “I never think about obstacles or barriers or why you can’t do things, because those things are always going to be there; the money will never be enough,” he said. “A lot of the things I have achieved were done through this mentality. During my time in the UK, I never used to think because I was a black person I could not succeed; and it was at a time when Nigeria had huge reputational challenges due to our fraud activities that I was progressing rapidly in procurement, which is a position where you have to be trusted with money and resources. I never looked at the barriers. Everyone is always looking at why things are not going to happen, but I look at the opportunities. “Even when I had my bar business, I never thought I couldn’t do it. It required a lot of financial resources that I didn’t have; but I had a plan, started from scratch, applied for a drinks license rather than buy a licensed premises. And when I came back, I brought the same attitude to Notore and PrimePort.” And it worked for him. “We’ve been doing very well,” he said, of PrimePort’s state three years after it was started. “We’ve been doubling our volumes and revenue year in, year out, even during the recession. The recession didn’t affect us, because we are offering a unique service and we anticipated all the challenges. The easiest way to stand out, which we have done at PrimePort, is to not be like the typical Nigerian. If majority of people are short-sighted, greedy, inconsistent and dishonest, the easiest way to stand out is not to be those things and people will notice.”

L-R: Senator Lanre Tejuosho,Femi Shittabey and Otunba Femi Adewunmi

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‘My Romance with the Oil Industry’ Oluomo Oluwole Oluleye, an accomplished technocrat who served as pioneer Executive Secretary of the Petroleum Products Pricing Regulatory Agency as well as a former Executive Secretary the of Petroleum Technology Development Fund, in this interview with Mary Ekah, recalls his early life, career and the journey so far Can we have a peep into your growing up days? I hail from Efon Alaaye in Ekiti State but had my early education in several schools as an itinerant student moving along with my late father, Major General James Oluleye (rtd) who was a military personnel who got numerous transfers. My first taste of primary education was at the Christ’s Church, Mapo 2 in Bere, Ibadan. Then to Apaukwa Municipal School, Army Barracks, Enugu, 1st Reece Squadron School in Kaduna and back to Apaukwa again in 1965. Unlike my mates, I took only one entrance examination, to Government College, Umuahia owing to the fact that my uncle, Supo Abidakun, had his secondary education there. I passed the entrance examination and my father, who incidentally had an official function in Port Harcourt, took me along and dropped me off at Umuahia for the interview. Seeing my uncle’s photographs with other students in his dormitory further reinforced my desire to attend the school, acclaimed to be the best in the then Eastern Region. On the last day of the interview, the principal was very nice but finally said no one was sure where the country was going with the crisis in the Western Region, the Tiv riots and others and that I should try and go to the West to attend Government College, Ibadan. I left the interview crying and that put paid to the hope of attending my dream college. So what did you do after you couldn’t get into Government College, Umuahia? I reported to another school, Igbo Etiti Grammar School early January 1966 but shortly after, the first coup occurred. I must say that most of the senior army officers one had come in contact with lost their lives during this period. I was in the school when the counter-coup happened in July 1966. My father was then in Kano as the second in command to late General Muhammad Shuwa. The Nigerian Outlook had a publication that my father and Shuwa were responsible for the Kano killings. The picture in the paper was not that of my father. Of three Yorubas in my school, two had scrambled off. I was no longer safe and had to disappear with the help of Oforbuike Nwobodo, who later became a top official of the Nigerian Red Cross and the international arm in Geneva. On getting to Enugu, I discovered God had a hand in my leaving as the 1st Battalion Nigerian Army was directed to move to Kaduna. I tried to get into the train and was rebuffed until Warrant Officer 1, Atanda and his wife saw me and forcefully took me into their coach as their child to beat the tight security as events and hostilities thereafter rapidly escalated. Most people who grew under military fathers have some unpleasant stories to tell. What’s yours? I must confess that for most part of my growing up, I thought my father hated me as a child as I was constantly whipped and he would say that if I got it wrong, it may be worse for my other siblings. My father wanted me to study Law whereas my interest was in Agriculture and specifically, Animal Husbandry. It was difficult to approach my father, being a stern disciplinarian. He commanded and you obeyed, we never saw the loving and caring side until he retired. But Mrs. Omololu, a family friend, obtained the admission forms of the School of Agriculture Akure and that of the Animal Health School, Moor Plantation, Ibadan for me; all in a bid to ensure that I did not stay at home. I took the entrance examination and passed and my career in Animal Agriculture began. While at the Moor Plantation, my Principal was the late Dr. Elizabeth Crockett DVM, Ph.D and she had a profound influence on me teaching Animal Parasitology and Pathology. Asking what my future plans were in my second year, I told her I liked the way she taught us effortlessly and she encouraged me to go to the USA. I applied and got a visa through her assistance but I couldn’t approach my father who wouldn’t consider any of his children going abroad to study, partly due to financial reasons, as he was training about six other children apart from his biological children. Dr. Crockett wrote a passionate letter urging him

Oluleye

to let me go as I would be able to realise my potentials and become an agriculture entrepreneur on my return. He agreed and rent for his house being paid by Premier Hotel Ibadan at the time was timely and I had also gradually saved over about $3,000 a two-year period from stipend paid in school (exchange rate then was almost one Naira to two Dollars). My father reminded me he had nothing to offer me other than education and I took this to mean that I should go and achieve on my own and be of the best behaviour. I found this to be useful advice on arriving in America where I had unfettered freedom but a lot of responsibility. I think it is only fitting to say I only came to idolise my father at the latter years of his earthly sojourn. I make bold to say that I never got so close to him early enough as I found him to be too stern and impregnable. It was much later that I came to appreciate him as a soft-spoken, committed family man behind the facade of a strict, fire-spitting soldier. Nothing has given a clue on how you became involved in the petroleum sector. How did that happen? My late father piled so much pressure on me after my Ph.D graduation in Animal Science that I eventually returned home in February 1983. I had my NYSC at the Veterinary Medicine Department of the University of Ibadan and got an appointment with the Department of Veterinary Parasitology after the one-year service there but I preferred the University of Ife (now Obafemi Awolowo University). A parastatal was being set up under the Ministry of Labour and Productivity which is the National Productivity Centre that would have a Department of Agriculture and Rural Productivity as part of the set up. The Centre had only room for Doctorate holders as professionals as envisaged by the UNDP/ILO blue print setting up the place. I attended an interview with some others who went to the

University in the UK, USA, and Italy and so on and who had also applied to the Federal Civil Service Commission. After the interviews we later got employed and had designations as Consultants or Senior Consultants. The centre was set up under the auspices of the International Labour Organisation and the United Nations Development Programme. I worked as much as I could at the National Productivity Centre but gradually the entire pioneer staff began to leave for greener pastures in their droves. As I rose through the ranks, I continued to have this strange feeling that I was going to either lead the Centre, or at least get so close to the very top, as I was the only remaining trained pioneer staff. I sought additional work outside the centre and spoke to a colleague who had also been sidelined in his earlier place of work for speaking the truth about some adulterated fuel imported into the country, then the Special Assistant to the Secretary to the Government of the Federation. I told him in addition to my current work, I wanted to work with committees being set up for various assignments. Within two weeks, he called to inform me of the setting up of a high-powered Presidential Committee to be known as the Special Committee on the Review of Supply and Distribution of Petroleum Products. I was to work under the Secretary to the committee Mr. O.O.O Ogunkua, with late Chief Rasheed Gbadamosi, who as chairman had the unenviable task of guiding the motley crowd of technocrats to make a meaningful headway in achieving the committee’s terms of references. The other key person guiding the committee was Engineer Funso Kupolokun, who was Presidential Adviser on Petroleum. It was at the feet of these highly cerebral personalities that I equipped myself with the technical nuances of the black gold. This marked the beginning of my divine romance with the oil industry. I would say my Petroleum Products Pricing Regulatory

Agency (PPPRA) experience paved way for my appointment as Executive Secretary, Petroleum Technology Development Fund (PTDF). How will you describe your brief stint at Petroleum Technology Development Fund as Executive Secretary? It was short but eventful and impactful. I was able to make the difference both in human capital and infrastructural development. We left legacies that those coming behind will talk about for a long time. I have also been lucky to have brilliant officers whose skills were properly harnessed for optimum performance. The records are there. As a public servant and technocrat, after retirement what next? As a public servant and technocrat, I have a fulfilled career. A career spanning over 33 years, starting from the National Productivity Centre, to the Petroleum Products Pricing Regulatory Agency as the Pioneer Executive Secretary and to being Executive Secretary Petroleum Technology Development Fund (PTDF), among other national assignments. God has always been my guide and guard throughout my path to the top. He has been sending the right people my way and such positions also afforded me the opportunity to learn how to manage men and resources. I set up a poultry farm in Efon Alaaye here over 10 years ago as a hobby and the business has grown geometrically and is now able to provide income for over five hundred Efon Alaaye and Ekiti State indigenes, by extension in terms of sales of outputs and proceeds from the farm. On the social and political front, I’m very much at home in Ekiti now, doing my best to impact positively on the lives of my people. We are not poor in Ekiti as many people erroneously believe. They call us a “civil service state” and that we are not viable. But very soon, Ekiti people will realise the enormous potentials at our disposal.

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Murray-Bruce Tackles Gender Based Violence as MBGN Marks 30

GEC Academy Holds 6th Graduation Ceremony

Mary Ekah As the search for the next Most Beautiful Girl in Nigeria (MBGN) takes off this year, with the first screenings scheduled to hold on August 8 in Enugu, the emphasis will be on the need to tackle gender based violence, which has been an uprising scourge in the nation and world at large. This is particularly to commemorate the 30th anniversary of the prestigious MBGN pageant. The Vice President, Silverbird Group, Mr. Guy Murray-Bruce, during a press briefing to announce the 30th edition of the pageant in Lagos, said that the pageant would be epoch making as it rides on the hair raising sub theme ‘Gender Based Violence - The Plight of the Nigerian Woman’, in addition to the pageant’s main theme ‘The True Essence of Beauty -Timeless’. He said this year's pageant comes with lots of surprises plus much more mouth-watering prizes for the winners and assured everyone of a world class event in line with the best of Silverbird's tradition. Murray-Bruce who was visibly excited over the announcement for the 30th edition of the pageant further called on corporate organisations and the media to be a part of the show as sponsors and partners. Screenings have been scheduled to hold on August 8 in Enugu, August 10 in Port Harcourt and in Abuja on August 12 while the final screening to select the 35 contestants will hold on August 14 at Best Western

L-R: Actor, model and former Mr. Nigeria Bryan Okwara, VP Silverbird Group, Guy Murray-Bruce, outgoing MBGN, Unoaku Anyadike and current Mr Nigeria, Emmanuel Ikubese,

Hotel in Victoria Island, Lagos. Winner of the anniversary competition, which holds on September 15 at the Eko Hotel in Lagos, will represent Nigeria at Miss World pageant in Sanya, China on November 18, 2017, while the first runner up will represent Nigeria at the Miss Universe pageant. Speaking during the press briefing, outgoing MBGN, Unoaku Anyadike made a passionate appeal to government at all levels to take the fight against gender based violence more seriously. Unoaku, in a very moving speech said, “It is sobering to realise that behind the closed doors of homes everywhere, in the place where women have the right to feel most safe, horrific abuse is a daily reality.” Unoaku, like many

other campaigners before her, is shocked by the statistics which show that nearly 50 per cent of all sexual assaults worldwide are against girls 15 years or younger." Past winners of the MBGN have made huge imprints globally with Agbani Darego now an international super model and fashion entrepreneur, becoming the very first Black African Miss World in 2001. Others are Mary Ngozi Bienoseh, Chinenye Ochuba and Anita Uwagbale named African Continental Queen of beauty, reaching the top 10 at Miss World 1987, 2002 and 2004 respectively. Bianca Onoh was crowned Miss Intercontinental in 1989, and Sabina Umeh was the first Nigerian to win the Personality prize at Miss World 1990. Toyin

YEDI to Empower 4,000 Youths at Summer All is now set for the 5th annual summer holiday camp organised by Youth Empowerment and Development Initiative (YEDI), a Non-Governmental Organisation. Tagged Skillz Holiday Camp, the youth-focused non-residential free camp sponsored by global energy giant, ExxonMobil and M.A.C AIDS Fund, will meaningfully engage 4,000 young people between the ages of 10 and 19 in disadvantaged communities in Lagos, Akwa Ibom and Ogun State through a blend of fun and actionable learning activities on healthy living. YEDI’s Executive Director, Oje Ivagba, said participants would be provided safe spaces to learn healthy habits, important life skills and prevention tips for diseases like Malaria and HIV/AIDS; along with other sexual and reproductive health instructions, using football, games, and other fun activities in an interactive environment. Ivagba stressed the importance of positively engaging young people during the long holiday, a period where youths are most ‘vulnerable’. “This is a period where youths are most vulnerable; because they have a lot of idle time and are exposed to negative peer pressure that increases their likelihood of engaging in risky activities. Our approach,

participants during the health awareness walk

therefore, is the introduction of Grassroot Soccer curriculum which combines football drills, games and other physical activities, with health education curriculum delivery, vital discussions and biomedical interventions, like HIV testing in a safe, fun and interactive environment,” he noted. YEDI’s Programmes Director, Tomisin Adeoye, said the camps would run for eight hours per day over five days. Participants will experience series of exciting activities

that will engage them for the whole day handled by trained volunteers who will serve as Coaches. “Some of the activities include registration, orientation, physical exercise breakfast, lunch, bed-net demonstration; talent hunt and exhibition where they are all given an opportunity to showcase and hone their skills; Quiz competition; and several other activities,” she explained, adding that locations and specific dates are available on YEDI’s website: www.yedi.ng.

Group Stages Health Awareness Walk The issues plaguing the development of science in Africa took centre stage as Nigeria joined 12 other countries for the first edition of the Africa Science Week held recently. The deliberations at the inaugural edition of the event centred on innovation and health awareness, amongst other issues. As part of activities marking this event, a cancer/hepatitis awareness walk was held in Ikeja, Lagos. The cancer/ hepatitis awareness featured a procession which saw the participants staging a walk to the General Hospital in Ikeja, as well as through the busy Computer Village and Bank Anthony Road, both in Ikeja. During the walk, the participants engaged in spreading awareness about the need, and how, to prevent the spread of cancer and hepatitis amongst Nigerians. Speaking on the health awareness initiative, Dr. Samuel Sojinu, Team Lead for the Nigeria leg of the Africa Science Week and also a lecturer with the Federal University of Agriculture, Abeokuta, stated that it was necessary to bring attention to the increasing cases of cancer and hepatitis. He advised individuals to go for regular

participants during the health awareness walk

medical check-up and quit habits such as smoking and the intake of hard drugs which may trigger unwanted diseases. Nigeria’s edition of the Africa Science Week is the first of a 13-country series. Looking to the future, the NEF will expand the reach of its Africa Science Week to 30 countries in 2018 and all 54 by 2020. The Africa Science Week initiative is the result of a partnership between the Next Einstein Forum (NEF) and Robert Bosch Stiftung.

Beyond numbers, the NEF hopes that Africa Science Week will grow to include major activities in schools and universities, and result in concrete collaborations between the research community and private sector. In line with the NEF’s Dakar Declaration, issued at the first biennial NEF Global Gathering, held in Dakar, Senegal in March 2016, Africa Science Week will place public engagement at the heart of advancing Africa’s scientific agenda.

GEC Academy International Executive Director, Mrs Josephine Peters (Middle) with Staﬀ and graduating students at the event

It was an exciting moment for students, parents and management of GEC Academy International as the school held its 6th graduation/prize-giving ceremony recently. The colourful event, which took place in Victoria Island, Lagos, brought together parents, friends and well-wishers as well as the representative of Lagos State Ministry of Education. In her address, the Executive Director of the School, Mrs Josephine Peters described graduating students as knowledgeable, great thinkers, researchers, principled, open minded and balanced. She said: "It is important for everyone to recognise and appreciate these traits as universal and enviable in nature because these have become inherent in all GEC Academy International students. “It is my most humble belief that all our students will make use of the opportunities and exposure this school has provided them as a platform to excel in their various disciplines of studies in Nigeria and abroad." In addition, the Director of Studies, Dr. Ghalib Fahad, said the pace of work has been tremendous, adding, “This is a period of assessing the extent to which our educational methodology has been right and the method of conditioning our educational process from slow to very fast mode." He acknowledged that without fear of contradiction the school have got the right formula. "Our last year's entire student cohort is excelling in international universities across the world,” Fahad noted. The Head of Administration, Mr Angus Onuoha, while congratulating the students, noted that the management had embarked on training and retraining of staff to keep them updated with current trend of events. He encouraged the graduating students who will be studying abroad to always remember that Nigeria is their only country." We should contribute positively in building and transforming it for the benefit of all"

Market Union Inaugurates New Executive Peace Obi The Coker Building Materials and Allied Products Dealers recently inaugurated its new executives after a successful election that marked an end to a-four-year tenure of Nze Sam Okpala-led executive. Speaking at the event, the Union's outgoing president, Nze Sam Okpala thanked God for a successful completion of his tenure. Appreciating the Union members for confidence reposed in him and his team, Okpala said it was an opportunity to contribute to the growth and development of the Union. The outgoing president who noted that though he inherited a Union with so many challenges, noted that having carefully waded through the various storms, addressed several issues and challenges inherited by his team that he was happy to handover to his successor a transformed union as well as a repositioned organisation. "We promised on assumption of office that our administration will be hinged on three cardinal points - transparency, accountability and improved welfare of members. We pursued these policies with every sense of responsibility and today, I am elated to say that we got it rights." Enumerating some of the team's achievement, Okplala said, "We entrenched the culture of due process in the management of the union's finances. My administration revived the association's annual football league competition for our sports-loving youths. We encouraged members who have financial need to apply for soft loan as enshrined in our constitution. I am happy to announce that as at date, over 70 members have benefited from the scheme. We have maintained cordial relationship with our host community and neighbouring unions alike, discharging our corporate social responsibility.” Congratulating the new executives, Okpala urged them to sustain the tempo of good governance. Speaking also, the incoming President, Mazi Justin Okpani thanked the members of the association for their sacrifice of time and confidence reposed in him to pilot the affairs of the Union for the next four years.

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Nordica Boss Gets Award for Leadership in Medical Field Mary Ekah An Alumnus of the Faculty of Clinical Sciences, College of Medicine, University of Lagos and Managing Director/Chief Executive officer of Nordica Fertility Centre, Dr. Abayomi Ajayi, was recently honoured with the Icon of Health Promotion Award, by the Faculty, for carving out a niche for himself as a leading scholar in his field of endeavour. Presenting the award of excellence in medical leadership to the Nordica boss at the 14th annual scientific conference and gathering of the Faculty of Clinical Sciences, College of Medicine, University of Lagos, the Dean, Faculty of Clinical Sciences, Professor Joseph Adeyemi, stressed that it was in recognition of Ajayi’s ability to ease the pains of families with infertility issues in Nigeria for close to two decades. Expressing gratitude to the College for such a significant award, Ajayi said it meant a lot to him especially as it was coming from the medical arena. He said: “Like every award, it is a wakeup call because if people award you for doing something right, then you better persist in doing it and then probably do it better so that it is not just them alone that are going to give you such awards but that that

Nordica Boss , Dr. Ajayi

you would even go ahead to get even more awards at the national level and even at the worldwide level.” Ajayi, who said he was not expecting the award, noted, “I was not really privy to this award until few weeks ago and I’m really impressed, especially when it is coming from my constituency and when your own constituency says that you are doing something right, then you must be doing it really right.” As the special guest of honour at the event,

the Nordica boss spoke on a topic that revolved around Mental Health and Fertility, explaining that infertile people are stressed and this could lead to depression, a mental condition that can transgress into other things. He said that there was an intersection between infertility and mental health, adding, “because of the high premium we place on childbearing in this part of the world, people who don’t have children feel that there is something missing and that leads to a lot of mental disturbance. The World Health Organisation (WHO), says that health is not just absent of infirmity but it is a state of well-being, so we can rightfully say that there is an element of connection between infertility and mental health.” On how couples should avoid mental conditions from affecting their fertility, he said, “There is treatment for infertility like any other medical disorder, and the only thing is for people to go to the right place. While we are not saying that couple should not go to prayer houses or whatever, we are saying that they should do the appropriate thing when they find themselves in such situation and at the right time so that this does not result into other things like mental health issues.” Emphasising on the need for couples to be in the right condition of mental health in

order to aid fertility, he said, “Every society determines what is important to it and in this part of the world, one of the things that is very important to us is procreation – that we must replace ourselves and in this part of the world, it is more important than some other parts of the world and the reason a lot of couples get so disturbed emotionally when they are shortcoming in this area and consequently get depressed.” The Dean, Faculty of Clinical Sciences, Professor Joseph Adeyemi said the annual event is usually an opportunity for researchers in the faculty and others to showcase their work from their diverse tendencies for scientific discuss. He explained that the main objective of the programme is to make research driven evidence public knowledge with the intention to influence policy formulation aimed at addressing health related problems in our country and contribute to world literature. The guest speaker at the event, Prof Jude Ohaeri, a professor of Psychiatry at the University of Nigeria, Nsukka, spoke on the topic, ‘Mental Health in a Recessed Economy’. He stressed that mental health advancement was a needed tactic for national development especially at this period when the nation’s economy was downtrodden.

Celebrities Get Endorsements as Stanel Ultramodern Centre Opens in Awka The inauguration of the Stanel Group ultramodern luxury mega centre (Stanel World) for official take-off of business activities in Awka, Anambra State recently witnessed the endorsement of Nigerian popular celebrities, Chiwetalu Agu, Chioma Chukwuka and Uti Nwachukwu as Stanel Group brand ambassadors. The Chairman/CEO of Stanel Group, Mr. Stanley Uzochukwu penultimate week, flagged off the long awaited Stanel Group ultra-modern luxury mega centre (Stanel World) with a 72-hour non-stop praise in its chapel on July 3, which was crowned with a widows' programme where the philanthropist reached out to over 1,000 widows with cash and material gifts. The 1.5 million litres gas capacity plant strategically located between the state owned university, Nnamdi Azikiwe University (UNIZIK) and Anambra State Women Development Centre along Enugu – Onitsha expressway was inaugurated by the executive governor of Anambra State, Chief Willie Obiano. In his remarks, Anambra State Governor, Willie

Celebrities signing endorsement agreements with Stanel Group

Obiano thanked the Chairman, Stanel Group, Mr. Stanley Uzochukwu for coming home to put Anambra on the path of development while assuring him and other investors enabling business environment in the state throughout his tenure as the executive governor of the state. Obiano commended Uzochukwu for the giant

strides to have acquired Chicken Republic franchise in the entire South-east region and employed over 700 youths before the take-off of what he described as “first to none mega complex,” where everything is available. Like never before, Awka was crowded with eminent personalities from all walks of life to

witness the inauguration of the mega centre. Delivering his opening speech, the Chairman/ CEO of Stanel Group, Mr. Stanley Uzochukwu thanked the governor for the opportunity accorded him to invest in the state while disclosing that he has similar investment in Jos, Plateau State, Suleja, Niger State and about to start the same project in Benue State, adding that Benue State Government has already allocated a place for the investment. The Stanel Boss further disclosed the giant move by Stanel Group which recently acquired Chicken Republic franchise for the entire South-east region, saying, he has “built the best and biggest Chicken Republic store with a drive through in the Mega Centre, Awka.”He disclosed further that, “also available in the luxury mega centre include a big farmers’ market with standby home delivery vehicles, French bakery, pharmacy store, automated car maintenance centre, car wash, 1000 sitters capacity chapel, warehouse, supermarket, staff quarters, laundry, spa, event centre and whole lot of other products/services.”

Group Urges Women to be Proactive Oluwafunke Lasisi A group, JoinValue initiative has urged women at all level across the world to be responsible in whatever situation they find themselves in order to promote the society in a meaningful and impactful ways that will lay good foundation as they have major and important roles God has accorded to them. The call was made at a programme held by the initiative with the experience of the founder, Chichi Ogbonnaya in the premises of University of Lagos, faculty of Environmental Sciences Auditorium titled ‘The Total Woman’ with the

theme ‘What’s your Excuse?’ recently in Lagos. Speaking at the event, the publisher, Today’s Women, Mrs. Adesuwa Oyenokwe said women have no excuse from being total women by knowing who they are and what they want to do on earth, stressing that whatever one maybe going through does not stop one from being what he or she is determined to be in life. She explained that total woman is a woman who continue working in progress of infinity, transformation of oneself in good willing that will give something better back to the society and determine to continue keep changing in

the process as it is the backbone of progress. She stressed that women need to learn to reinvest, discover their potential, create awareness, read books and related issues, develop great habits which enable their development. Oyenokwe noted that women should also think of the skills or trade they can acquired with best of knowledge and wisdom to help the household and the society in order not to be a liability or rendered useless out there where she may indulge in unlawful acts turning her into miserable being. In addition, the CEO, Sixth Sense Interiors, Mrs. Temitope Olagbegi, advised women to be

courageous, determined, skillful among others relative irrespective of their background to make a unique story of life in the society. Other guests at the event include Executive Director, Royal Communication Network, Deboral Odutayo; CEO, Mumpreneur.ng, Mofolusade Sonaike; Executive Director, Discover Your Potential Ltd, Dr. Kunbi Wuraola; CEO, Mother’s Delivery Kit, Adepeju Jaiyeola; Brand Strategist October Consult Limited, Jumoke Awe; Author Fitness Coach Mentor, Eziaha Bolaji-Olojo who all shared their personal experiences and advised that women should look out for good achievement in their life.

INEC's Continuous Voters’ Registration Exercise: Group Canvasses for Disability Audit Mary Ekah The Centre for Citizens with Disabilities has called on the Independent National Electoral Commission (INEC) to conduct an audit of its processes to identify disability gaps and ensure that Persons with Disabilities (PWDs) are not marginalised in the electoral process. The Executive Director, CCD, David Anyaele, made the call while briefing newsmen in his office on the outcome of a survey carried out by the organisation to identify the militating and facilitating factors around the ongoing INEC’s Continuous Voters’ Registration (CVR) exercise and eligible Nigerians with Disabilities, across the 20 local government areas in Lagos State. According to David Anyaele, the disability audit of the processes of the electoral body will help INEC in its planning and budgeting for the just concluded local government election in Lagos State, gubernatorial election in Anambra

State, and subsequent elections in the country. CCD observers reported that INEC registration centres across the 18 local government areas had no sign language interpreters or special attendants for PWD’s coming for the CVR exercise. It was also observed that INEC officials in 14 L.G.A (70 per cent of 20 LGAs visited), were not capturing PWDs data according to their disability types. Eighteen (18) of the INEC-CRV registration centres visited were located outside INEC offices at Local Government Areas in Lagos, hence, making it difficult for PWDs and even those without disabilities to locate the designated centres. The assessment shows that 11 out of 20 LGAs ( 55 per cent of the registration centre visited) were characterised by barriers that hinder PWDs access to the centres. These barriers include gutters, high slabs, unlevelled floors, steps/ stairs and heaps of sand. The electoral body has also failed to fully

comply with the Lagos State Special Peoples Law (2010) that provides that special queues be provided for PWDs, as 6 LGAs (30 per cent) did not have separate queues for PWDs at the Centre. Anyaele tasked INEC to organise more sensitisation programmes for Nigerians about the on-going exercise. He also called on INEC to train and re-train its officials on ways to capture and attend to PWDs of different clusters, disability friendly environments as registration centres, as well as to deploy sign language interpreters to the designated centres. It would be recalled that INEC launched the nationwide Continuous Voters’ Registration exercise on April 27, 2017, aimed at capturing the data of persons who were unable to register during the last voters’ registration exercise and that of individuals that have attained the age of 18; individuals that registered during the last exercise but could not collect the Permanent Voter Card before the 2015 polls are also receiving attention.

L-R: Miss. Linda Uche, Program Assistant (CCD) and Mr. David Anyaele, Executive Director (CCD) at a press brieﬁng

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‘Uniqueness of Our Products Makes Us Stand Out in the Industry’ She epitomises industry and has a promising entrepreneurial acumen complemented with her ravishing beauty. There is always a touch of class in all she does which is driven by her love for good taste. Mrs. Chinenyenwa Anene is the Chief Executive Officer of Apha Beddings, an interior decoration outfit based in Onitsha, Anambra State. In this interview with Peter Uzoho, she speaks about her business and sundry issues a comprehensive total package interior- house, hotel, office interiors, thereby making us to import some products like curtains, blinds, figurines, beddings etc.

What inspired you to go into this line of business? I am inspired every day. Beautiful objects are an endless supply of inspiration; because I’m a visual person, images often give me the map to my final design. I love playing with colours too; you can give me a pass mark on that. I often flip through my favourite shelter mags – Veranda, Elle Decor, and Architectural Digest – to catch an interesting detail and to see what my eye is naturally drawn to. I like to break the interiors down, identifying how the room is pulled together. I would never copy a look but I like to decode the designer’s process. I often draw on historical references and reinterpret them with today’s materials in a timeless, elegant way. And when I am in need of more inspiration, I dig so deep in the internet.

Your business is located at Onitsha; is that area a fertile ground for the business? It depends on what we offer the public. We have brought a touch of class and something different closer home and, so far so good, it's not been a bad journey, although every business comes with its own challenges. However, I am so dogged in spirit that I don't let my environment dim my light. My background can never keep me on the ground. Onitsha is like my take off point, I have my mini furniture factory here, but our intentions are to spread out tentacles for a wider coverage. We hope to have branches in key developing states in the nearest future by His Amazing Grace.

Who are the services of Apha Beddings targeted at? Our company is out to satisfy everyone that is truly able to identify quality, taste, uniqueness and professionalism.

What is your source of confidence in the business? My whole confidence is from God, the way maker. I know by His grace, we will be a household name in Nigeria.

How do you get your products? Most of the materials we use are manufactured locally. We deal majorly with made-inNigeria furniture since we have more solid woods here, but for the ones that we can't produce, we import from Turkey, London, America (e.g. reed diffusers, flowers and flower vases, throw pillows, figurines, chandeliers, antique console mirrors, American beddings, etc). Looking at when you started and where you are now as a businesswoman, how would you say you have fared? I started my first showroom officially in 2013, and it's been amazing all these years. I have had my highs, my lows, and the lowest ebb in this business. Sometimes I feel like quitting because my staff are mostly men and working with them needs extra patience and wisdom. But then, God has indeed been great to me. I am not where I want to be yet but where I am now is better than where I was when I started it about four years ago. What else would you have loved to do apart from interior decoration? I would have been an Event Manager, because it's still a creative business. I tried it years back before delving into interior decoration, but because I was naive and younger then, I couldn't move on after my first year in it. Hopefully, in future I will still go back to it because its services are almost similar to interior designing. It still boils down to working with objects, spaces, images and colours. In your service provision, what do you do different from your contemporaries? I try to be myself. I try not to be intimidated by those that have really made name in the industry. I always call the big sisters in the business for one idea or the other, and I give them the kudos. I try to take it little by little; one step at a time. We will all get to our divine destinations in different times. I try to be creative and also check blogs to see new designs and try to infuse it in any job I am handling. We all have different aesthetic gifts; I know with time and with God by my side, my small company will be a household name in the industry. You are operating in a saturated industry, how do you manage to survive? The key to success in a saturated market is change. Change is a synonym for op-

Starting up an interior decoration outfit, what does it entail? You talk about space, location, design and budget. How did you come about the name ‘Alpha Beddings?’ The name is a Biblical name. I had wanted my business name to have a biblical connotation to it, hence the origin of the name, “Alpha (meaning the beginning)". Anene

portunity. If you don't know what's changing with your customers and competitors, your customers will buy from those who do. And that’s precisely where new businesses have an edge. If you’re really good at keeping your finger on the pulse of the industry and the waves of change, that often sets you apart from the competition. Small businesses that differentiate themselves are able to thrive in the most competitive environments. My advice is to do your homework, define what makes you different and embrace that difference wholeheartedly. No matter how crowded the industry is, even if it's full of major brands, you can achieve success by setting yourself apart. Whether that means reinventing industry standards, taking a new approach to the business model or offering something customers can’t refuse, carving a niche in the most saturated market is possible with commitment and creativity. What are the challenges confronting operators in the business? It has not been easy running a furniture business. You will agree with me that as you are expanding the business, the challenges and successes are also expanding. We encounter a lot of challenges as the business is growing, but we have developed a mindset of seeing challenges as opportunities for further growth. As a manufacturer, the biggest challenge we are facing today is that we have to import all the needed raw materials for production. There is no single company that produces MDF, HDF and MFC boards in the country up till date. The other challenge is the nonavailability of power supply; it eats so deep in our finances. We are living in a modern society where people almost on a daily basis are becoming

more and more sophisticated and this affects their taste in interior design. So how do you satisfy their ever changing taste? We are simply different in style and in taste. We tune in to the personality and considerations of our clients. Our business has grown simply by the testimonials and referrals from our existing clients. In my opinion, that is the best measure of satisfaction. Before you ventured into interior decoration, did you identify a need you wanted to solve? Our focus is to build our capacity to be able to export our products beyond the shores of this country after satisfying the local demand. It is going to take us time and it will be capital intensive, but we are committed to generate foreign exchange by exporting our products with God by our side. Our focus will be to serve the Nigerian market, then move to neighbouring African countries before taking the global market, ranging from home, office, school and hotel furniture. Alpha Beddings 'n' Interiors guarantees not only quality but durable and pocket friendly products. The uniqueness of our products makes us stand out in the industry. In what ways is your business impacting on Nigeria’s economy? Remember we do more of made-in-Nigeria furniture, we source our raw materials locally and internationally, our furniture makers are all Nigerians and by that we have offered employment to certain people. The company has a staff strength of about 10 people, and we buy Nigerian products to grow naira strength. I source my products internationally and locally but 70 per cent are locally sourced, because we do more of furniture, i.e. living room sofas, wardrobes, kitchen cabinets, beds, shelves and racks. But because of my versatility in the business, I do

You are married with children, how do you juggle between your roles as a mother and wife and as the CEO of Alpha Beddings? The mode of running my home and that of my business are both on parallel lines; my family stands first in my life. The nature of my business is so family friendly that I work mostly from home when my kids are on holidays. It’s not really time consuming except when we are working on a particular site(s). I have trusted hands working with me; my role is basically the aesthetic and designing aspect. I can run my interior showroom and my online business from anywhere. Besides, my kids are all grown; they are in the universities and high schools and, I am just left in the house with my husband and it makes the whole journey a smooth one. Finally, how would you describe yourself? I am an industrious and entrepreneurial woman; a great motivator, God-fearing and down-to-earth. I love God and I aspire to live a life worthy of emulation. I am averagely nice and respectful. Most importantly, I am a very good wife to my husband and good mother to my kids. By God’s grace I am the CEO of Alpha Beddings 'n' Interiors, Alpha Hair and Alpha Feets 'n' Bags. I am from Anambra State and, the first child of my parents. I studied Psychology at the Nnamdi Azikiwe University Awka, and did my MBA in Business Administration at the National Open University of Nigeria. I am multi-tasking in nature and have my hands on so many things. I ventured into interiors in 2013. It was borne out of my love and penchant for colours and space arrangements. Beside interior decoration, we also deal in ladies designers bags and so many other things. Other things we deal on can be seen in our website www.alphabeddingsninteriors.com I strive to be the best in everything I do.

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04.08.2017

Nigerian Family in Crisis, Says Obiakalusi Solomon Elusoji National Bureau of Statistics says that 0.2 per cent of men and 0.3 per cent of women in Nigeria are legally divorced, while under 1 per cent of couples admit to being separated. But this does not necessarily mean that Nigerian families are healthy, since the data does not take into cognisance traditional marriages. Besides, divorce rates is only one criteria for measuring a healthy family system; dysfunctional families, like Tolstoy suggested, manifest themselves in a plethora of forms. But one woman, Mrs. Lovett Obiakalusi, is confident that the Nigerian family system is in crisis, with rising trends like same sex marriage and cohabitation of unmarried people. She is the founder of the Valiant Women Awards (VWA), a reward system that celebrates women who are upholding Christian values in their families. “God has a design for the family system and abandoning it is abandoning God, causing chaos all over the place,” she told THISDAY. In 1999, she had started a non-profit, Women of Valour Global Mission, geared towards promoting Christian values in women, but only instituted VWA in 2016, when the Golden Woman of the Year Award was given to Mrs. Faith Nebechukwu

Obiakalusi

Debekeme, an 86-year-old retired nurse who has been married for 58 years through “submission and unflinching love for her husband despite having just one female child.” In July, VWA organised a seminar titled ‘Naked Truth’, hosting several speakers – Immanuel Okezie, George Ashiru, Orbby Agwuncha, and others – who spoke on topics ranging from sexual compatibility in marriage to how women should

actively choose their spouses. “You find out that people are still living in the old life, so it is necessary for us to begin to create awareness of our redemptive rights in Christ, which is why we came up with activities and programmes like this for families, because we needed to do something that will revive the family system,” Obiakalusi said. “We understand that the family is the bedrock of the society and you can’t have a viable family without a viable marriage.” Stressing why the seminar was important, she added: “We are being fed too many lies. The young generation are being confused; they don’t know what the truth is anymore. So we need to begin to tell them that there are principles that you just can’t abandon because you feel you are in the modern age, especially when it comes to marriage and family. So we needed to tell them what the whole truth is and nothing but the truth.” One of the seminar’s participants, Mary Chinda, told THISDAY: “I have had my mind shifted. I’ve realised that it’s not wrong for me to not want to rush into marriage and that building my capacity while waiting is the best thing to do. I’ve also learnt that divorce is not the end of it, that pain helps us to grow.”

Proper Utilisation of Modern Technology in Nation's Healthcare Delivery will Engender Eﬃcient and Timely Services, Says Vodacom MD Peace Obi To realise an improved healthcare system that will enable increased access to people seeking healthcare services amidst rising costs and inequitable distribution of health workers, the Managing Director, Vodacom Business Nigeria, Mr. Lanre Kolade has said that adoption and proper utilisation of modern technology in the nation's healthcare delivery will definitely engender efficient and timely services. Speaking during the Information Communications Technology and Telecommunications (ICTEL) Expo, 2017 organised by the Lagos Chamber of Commerce and Industry in Lagos recently, Kolade said that Nigeria needs to adopt the Internet of Things (IoT) as part of the solutions towards improving the current healthcare delivery in the country. According to him, with a healthcare budget of N1,688 per person, the adoption of IoT has become pertinent in addressing various healthcare needs of the people. Stressing that it paves way for the optimum use of the available scarce resources in achieving maximum result. Referring to a recent report by the World Health Organisation’s Global Healthcare Workforce Alliance which highlighted inadequate production and inequitable distribution of health workers as some of the major challenges facing the sector, the Vodacom boss hinted that with the ratio of health workers per 10,000 citizens sitting at 1.95, "this means that citizens seeking healthcare services outstrips the available trained staff and those in need may be far from the nearest hospital or clinic. "The Internet of Things is a powerful tool for us to successfully address Nigeria’s healthcare challenges. IoT can be used to increase access to healthcare by extending the scope of care services to rural and hard-to-reach areas and ensuring that essential medicines are available where

R-L: Managing Director, Vodacom Business Nigeria, Mr. Lanre Kolade, Honorable Minister of Science and Technology, Barrister Abdul-Raheem Shittu, President, Lagos Chamber of Commerce and Industry, Dr. Nike Akande, and Chairman, Trade Promotion Board, Lagos Chamber of Commerce and Industry, (LCCI), Mr. Sola Oyetayo, at the event

and when they are needed. This technology is powering connected medical services that enable healthcare professionals to diagnose and consult with patients and first responders remotely, no matter where they are.” Adding that IoT is significant to realising a digital healthcare system in Nigeria, Kolade said, "Technology makes it possible to connect assets of all kinds - everything from heart monitors to chiller cabinets. These assets are equipped with sensors that monitor their environments, and with a network connection, so they can communicate,” he said. Enumerating on some of the IoT initiatives, the IT company has adopted in healthcare delivery across the country, Kolade said "Vodacom recently partnered with Kaduna State Government to launch a mobile technology-based healthcare programme, SMS for Life 2.0, in the state. It aims to increase the availability of essential medication by monitoring drug stock levels, improving the

delivery of healthcare for citizens who access public health services. "Vodacom is the technology partner for the initiative, which is a public-private partnership with Novartis and the Kaduna State Ministry of Health. Vodacom has concluded the training and deployment of SMS for Life 2.0 in Kaduna, with over 250 facilities using the platform to date. This initiative is planned to be implemented in all thirty six states,” Kolade said. Also speaking on how technology has impact its services, the Founder, Flying Doctors Nigeria, Dr. Ola Brown said that through some technological innovations, its services have been made a lot easier with the attendant cut in cost. "With the help of technology, we have changed our practice from using private jet to constructing a structure in a commercial airline to make the service cheaper. For our doctors training, we used to bring in air ambulance doctors from different parts of the world to train our doctors.

Ambitious Teenager Launches Maiden Book Sarah Agbamuche A 16-year-old graduating student of High Grade Secondary Schools, Lagos, Miss Aisha Ibrahim Kaoje, has launched her first published book ‘The Girl Who Loves Her City’. Speaking during the book launch, at the valedictory ceremony organised for the class of 2017 of the school recently in Lagos, Kaoje who aspires to be a Pharmacist, said she was inspired by series of events happening in Nigeria. The book according to her, teaches how to curb corruption from the grassroots level, build self-respect and discipline to become a better leader of tomorrow. Through the book, she advised people to strive to achieve greatness by building love, enthusiasm, honour, and selfrespect, urging children, youths, young adults and parents to work together and never give up in whatever situation.

Author of the book ‘The Girl Who Loves Her City’, Aisha Ibrahim delivering her speech

“In our society, some people are on the high side while some are suffering. I want to encourage

those who are on the verge of giving up not to do so. I get inspirations from everywhere for example when the Ebola disease struck in Nigeria, medical practitioners came together to see that it was put to an end. Also when the Chibok Girls went missing, many concerned Nigerians came together to rescue them,” Kaoje said. Mother of the young author, Hajiya Saadatu Kaoje, said the family inspired her to do more by giving her all the support she needed to write, advising other children with talent in writing to always respect their parents and feel free to share their dreams with them without fear. First printed in 2015 and formally published in 2016 by Grandeur International Communication Ventures, the book has been approved by the National Library of Nigeria where copies of the book can also be accessed. It is currently waiting for approval by the Lagos State Ministry of Education to be used in schools throughout the state and included in its curriculum.

AEA Commences Commercial Fish Farming Olawale Ajimotokan in Abuja The Abuja Enterprise Agency (AEA) has embarked on commercial fish farming in Guito, Bwari Area Council under its One Village One Product (OVOP) initiative. The Managing Director of the agency, Muhammed Tukur Arabi announced at the recent Nationwide Micro, Small and Medium Enterprises (MSME) Clinic held in Abuja that the initiative though a pilot project, has built capacities of fish farmers in the local community. Arabi said that in addition to the fish farm in Guito, AEA has also successfully completed a 12 tonne Cassava centre in Chikuku, in Kwali Council Area. He said the agency has created capacities for 310 farmers and 248 direct jobs, in addition to the provision of outreach services to 1086 individuals with advisory services, capacity building and other business development services. He stressed that AEA recorded another milestone in youth development having successfully concluded the 3rd Abuja Business Plan Competition (APBC), Youth ICT Training Programme, Youth Entrepreneurs Programme (YEP) and the FCT Skills Acquisition training programme among others. He said that through the support for ABPC, the FCT Administration built the capacity of 1200 youths and advanced credit facility of N20 million and grants worth N6.7m to the top 21 performers in the competition. Arabi added that last year, 200 FCT indigenes were trained on business management and vocation skills. He said that the participants from the scheme have trained 120 people living with disabilities to start their own businesses. He said AEA entered into partnership with UK Department for International Development (DFID) and Korean International Corporation Agency (KOICA) towards facilitating of technical supports to strengthen its capacities and deliver its mandate. Over 7,000 participants and 1,000 exhibitors attended the MSMEs Clinic organised by the Office of the Vice-President to support production of Made-in-Nigeria goods by local entrepreneurs.

Guinness Issues New Shares to Reduce Debt Proﬁle Solomon Elusoji Guinness Nigeria is currently at the Nigerian Stock Exchange (NSE) issuing new shares to address its significant gearing ratio, which represents a high proportion of debt to equity. Between 2015 and 2016, the company obtained loan facilities from various financial institutions to fund working capital requirements and expansion of its operations. Also in 2016, it obtained a $95 million loan from one of its major stakeholders, Diageo, to manage foreign exchange related obligations. According to a statement from the company, “the net proceeds of the Rights Issue will be used to repay a significant portion of the related party loan and some of the other outstanding obligations to financial institutions, while helping to optimise the company’s balance sheet and strategically position it for future growth.” The size of the Issue is 39,700,688,598 at an Issue Price of 58.00 and a Rights Ratio of five new ordinary shares for every 11 ordinary shares held as at the close of business on Wednesday, 15 March, 2017. The opening date of the Issue was July 24 and it will close on August 30. Guinness Nigeria, recently, has been undergoing some tough times financially, with gross margin declining from 43 per cent to 36 per cent between the first nine months of 2016 and 2017. But the company has put confidence in “its strong strategy of expanding its portfolio, leveraging the route to consumer and productive assets, as well as driving down costs and reducing the debt burden.

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04.08.2017

Tandon

‘This Year We will be Embarking on Six Blood Donation Camps’ The newly elected President of Rotary Club of Lagos Island, Rotarian Sanjeev Tandon in this interview with Ugo Aliogo, spoke about the new position and plans to build on the legacies of his predecessors What are your plans for this new position? We are having a couple of projects which we are going to take up this year. The first project is the project Ishk. The focus of this project is to provide artificial limb projects (global grant project). The project is being carried out in joint partnership with Rotary Club of Singapore and Tolaram Foundation. The project is expected to provide 1,500 artificial limbs at free cost. We will also embark on the adoption of Teslim Elias and Union Baptist School, Adeniji Adele Road, Isale Eko, Lagos. There is also the project for the mission. Here, the focus is on two dimensions. First, we will partner with Rotary Club Palmgroove to carry out a minimum of 1,000 cataract surgeries at no cost. The second part will be our partnership with Geeta Ashram to carry out a minimum of 500 cataract surgeries at no cost. The club will also organise blood donation camps in collaboration with ‘Kewalrm Chanrai foundation’ ‘Tolaram foundation’ and other corporate houses. There will also project Haryali (Green). It is a mega tree planting initiative where we plant a tree to save a life. There will be diabetic camp, clean water facilities, polio awareness rally/programme and cancer awareness programme- breast cancer and prostate cancer. How do you assess the growth of Rotary in Lagos Island? The growth of the Rotary in Lagos Island is amazing. In the Lagos District 9110, the club

is the best. We started the club in June 2016 with 30 members. Within one year we have increased to 14 members. The moment you surpass 100 you call it a mega club. It is the first mega club in Lagos and Ogun Rotary districts. In the Lagos and Ogun districts, they are about 90 clubs, amongst these clubs, our membership is the highest. In terms of helping the society we participated in the mission for vision alongside Rotary Club of Palmgroove. Also, in 2016 we conducted three blood donation camps; this year we are doing six blood donation camps. This is aimed at supporting the Lagos Blood Transfusion Unit. In 2016, we signed an agreement with the Rotary Club of Singapore for financial support to procure artificial limbs. We are going to launch the project this year. What is the amount of support you received from Lagos State Government and Private Individuals? The Lagos State Government has supported us in projects such as blood donation. Government doesn’t come to us to ask for where they can support. We go to them to seek for support. For instance in Sagamu, Ogun State, we carried out free surgeries. We approached the Commissioner of Health in the state who decided to support us after seeing what we are doing. In the areas of education and immunisation. How far has the club fared? We did polio awareness rally along with

the district last year. Our attraction on the polio side is limited also. Our attraction on the polio side is limited to the rally zones. We advertise and make sure that the awareness rally is done by our club. The rally was successful, but more problems are still in the Northern part of the country. We were able to measure the success of the rally through the feedback from the community. Also, we get the results from the Coordinator of the Polio Plus side; they send the result to us. What were the things that the last administration could not do that you want to achieve in your tenure? Every President comes with his or her own plan. There is a strategy plan for Rotary clubs by the international body for the next five years. In that plan, they give the broad guidelines. Based on those guidelines we decide our own strategy, and we prepare how to achieve our strategy plan based on the guidelines given by the international body. The guidelines by the international body are they drawn to meet society needs? These guidelines are definitively linked with the society. The international body gives the broad guidelines. For the community, the Rotary Club has to select the project they are interested in. The international body will not decide the project that you will do. Every club has their area of jurisdiction. But it must be in line with the guidelines of the international body. In our Lagos Island club,

we have youth wing where we help youths develop leadership skills and build themselves. Through the training, we help them build the spirit of discipline. They will be given some chance to develop their own projects and their leadership skills. The district governor will decide their own guidelines and come to the club president. For the cancer awareness programme, what has been the progress? Well, I cannot quantify who has benefitted or not. On our path, we aim to organise the rally for people to see what we are doing. We distribute the pamphlets so that it will reach thousands of people. This will help keep them inform about our activities. After that, the second step is having the facility. Our job is to create awareness through radio talks, camps and rallies. We are here for social community service, not for the name. We have by-laws which governs the leadership of Rotary. The by-laws might differ from one Rotary Club to another. The reason is because the schedules of the different Rotary clubs are different. But the constitution doesn’t change. The international body provides what is to be done. For instance in my club, I might want three vice-presidents, while in another they might want one vice-president. We are bringing in women into Rotary. We want members to come with their spouses so that they become Rotarians. We are also looking for young leaders also because very soon the old will leave.

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04.08.2017

‘We Differentiate Brands through Superior Positioning’ We Differentiate Brands through Superior Positioning’ Ellae Branding Agency Limited is an energetic and talented creative firm that has taken centre stage in Lagos, blending intelligent creativity with a sincere collaborative approach as it consistently deliver powerful results to its clients with a team of creative and strategic professionals. Its Founder and Creative Director, Mrs. Noella Ekezie in this interview with Mary Ekah, explains how her company’s dedication to helping clients develop more meaningful relationships with their customers through brand, communication, creative and the digital channels, is of utmost importance What would you describe as your greatest achievement as a branding company? Ellae is an award-winning, full-service agency with demonstrated expertise and experience in brand, digital, web, communications, marketing and advertising services. We have been in the business of creating, growing, building and reviving both Nigerian and international brands and delivering mouth-watering marketing results. Ellae’s brand building and design expertise have seen us execute multimillion dollar projects for both Fortune 500 companies and challenger brands including organisations such as the USAID, BASF Germany, the Nike Foundation, Google Inc, Exxon Mobil, Citi Bank, Cognizant, and many others. Our excellence in rebranding and brand development has also been recognised on a global scale as we recently became the only Nigerian branding agency to concurrently win GOLD awards at the 2016 and 2017 editions of the annual Transform Awards MENA (Middle East and Africa) held yearly in Dubai, UAE. Established in 2009 in Europe, the Transform Awards is a celebration of the indispensable talent that exists within the branding sphere. Covering Asia-Pacific, the Middle East, North America and Europe, the Transform brand itself is truly global, with no other outlet as committed to providing such comprehensive coverage of the brand environment. Who are your potential clients? Our potential clients are all companies who would like to define the benefits and experiences that make their brands relevant, distinctive, and credible to customers, and develop strategies to differentiate their brands through superior positioning relative to their competitors. Tell us a bit about yourself and what you were doing before Ellae? I was born and raised in Lagos and obtained a B.SC degree in Chemical Engineering at the University of Lagos before moving on to study Design at the prestigious Parsons School of Design, the New School, Manhattan, New York. Prior to founding Ellae Creative, I worked as an associate designer at a brand consultancy firm based in Lagos, Nigeria. I am also currently a Cherie Blair Foundation for Women Mentor in the Cherie Blair Mentoring Women in Business Programme, a charity organisation set up to develop sustainable solutions to the challenges women entrepreneurs face worldwide. I am a married mother of four wonderful children and my hobbies include travelling and public speaking.

With the current economic situation, how has Ellae been able to find leverage? Working in Nigeria means we need to be brave and bold with our decision making. By finding new and innovative ways to serve our clients and keeping right on the curve with the latest brand, digital and communications methods, we have managed to develop an excellent reputation across the country. Are there peculiar challenges you face as a woman entrepreneur? I would say that being a mother of four kids all under the age of 10 while running a business is very challenging. I have dual responsibilities to my family and to my business, and finding ways to devote time to both is key to truly achieving that elusive work-life balance. How do you stand ahead of your competitors? Our focus is on our credibility as a company and our positioning as a world-class brand. Also, if you’re ready to grow your business, relationship building is the most logical-and profitable-strategy to pursue. It is the one strategy that we have implemented that has clearly differentiated our firm from the competition, and overcome indifference. What does it take to build a business like yours? To be really successful in branding/brand management, you need to have a passion for the consumer. You need to want to understand them, what they want and how you can satisfy it. You must be interested in all facets of general management, as you're involved in running all parts of a business.

Ekezie

media, display advertising and e-commerce. The real-time conversations brands have with people as they interact with websites and mobile apps has changed the nature of branding and communications. Today’s brand and communications department needs to combine the creative side of the discipline – using powerful narratives to tap into people’s wishes and aspirations – with the technical side of data, digital marketing and analytics.

How exactly is branding important to individuals and organisations? The purpose of branding is to simply and easily help consumers understand what you offer and how you are different. It is the combination of all the ways you communicate what you stand for. The implementation, positioning and creativity of the corporate brand are becoming increasingly treasured business asset as the consumer's ability to recognise or recall a brand is central to purchasing decision-making.

Why in the first place did you decide to go into branding? After embarking on my own journey as a designer, I had briefly worked for a brand consulting company which introduced me, for the first time, to the world of branding and communications, which is when I realised that this was the line of work that interested me the most. What was it like when you started compared to where you are today? The industry is ever-evolving as consumers are now spending more time on mobiles, tablets and laptops. The challenge for brands today is to connect with these consumers through all these devices in real time and create campaigns that work across social

Ekezie (standing at the extreme left) proudly displaying her GOLD awards at the 2016 - 2017 TransformMENA Awards

What has your contribution been in encouraging young entrepreneurs to establish your kind of business? We have established various initiatives as a company to provide SMEs and entrepreneurs with resources they require to build and grow their businesses. These include our SME Marketing Toolkit service; our free Ellae Brand Web Series on our Youtube channel which was launched to help SME’s achieve their brand marketing and communication goals. We also have a feature blog, the IdeaPress (www.ideapress.com) which was developed as a platform for sharing business development ideas, branding, marketing, communications, digital marketing and career-related tips with the thousands of entrepreneurs and owners of SMEs on our company’s mailing list. Finally, we also currently offer a Brand Building course on our Ellae Training platform, an arm of Ellae Creative Agency. The course is practical, intensive and targets young entrepreneurs and small business owners who require brand building coaching for their businesses. Where do we hope to see your company in five years to come? That's a great question. I see Ellae established with offices all over the world. We are already shaking things up globally and our journey is far from over and we will continue to grow. We are now in the process of expansion with an aim to double in size in two years. The goal for five years is to create Africa’s largest brand consultancy servicing all aspects of the business world and acting as a partner for companies seeking branding and communications services.

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04.08.2017

L-R: Engr. Oluwasegun Alegbeleye, MD/CEO, Lexy Crafts & Trading Solutions, Engr. Olatunji Alegbeleye, Mr. Babatunde Alegbeleye, US based Medical Practitioner and Mr. Olanrewaju Alegbeleye, Country Director, Sales & Commercial, Dogan Sugar during the Service of Songs for their father, Pastor Philip Alegbeleye in Lagos...recently Photo: Lexy & Crafts

The Couple,. Olalekan Oyewande and his wife Maggie Moromoke at their traditional marriage in Lagos...recently

L-R; Special Guest of Honor, Mr. Laurence Anirejuoritse Wilbert; Alumni President, Federal Government Girl's College Akure, Orie Mong Vann; Principal, Mrs. Rose Idehen; and Chairperson, planning committee, Osayemi Fagbamigbe at the 40TH Anniverssary reunion of the FEGGICOLA's Alumni in Lagos...recently FAITH OBOSI

R-L: Former Secretary/ Supervisory Education, Ajeromi Local Government Council, Hon. Afolayan Modashiru; Baale of Ayetoro, Chief Saheed Fakunle; Proprietress, Ikpe Private School, Mrs. Racheal Ikpeku; Director of Studies, Pastor Daniel Ikpeku; Chairman of the Occasion, Mr. Ugbome Alphaeus; and Baale of Apapa/ Alayabiagba, Chief Yaya Adeshina- Ojora, during the School 2017 graduation celebration in Ajejunle, Lagos, recently

The Celebrant, Mrs. Jumoke Moriike Enduku, (4TH Right), her husband, Mr. Segun Priye Enduku,being supported by friends to celebrate her 50TH birthday in Lagos...recently

L-R Glo Subscribers, Jane Okehie, Aderemi Adeyemo, International comedian from Uganda, Patrick Idringi, popularly called Salvador, his wife, Daphine Idringi, Glo subscribers Nnamdi Angus and Kelechi Angus, at the Glo Laffta Fest, comedy show in lkeja, Lagos...recently

DAN UKANA.

L-R: Executive Director, Elmarine Pharmaceutical Ltd, Mrs. Yetunde Babatunde;Managing Director, Elmarine Pharmceutical Ltd, Otunba Isaac Babatunde;The Awuse of Onigbongbo Land, Ikeja, Lagos, Oba Muriudeen Olatunji Yusuf; and Olu of Iju Ishaja, Lagos,Chief Abass Ajibode, during the installation of Bababtunde Isaac as Otunba Taiyese of Onigbongbo Land to mark the 10th coronation anniversary of the Oba Yusuf, in Onigbongbo, Lagos... recently ETOP UKUTT

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04.08.2017

Celebrating Kosoko, the New King of Awori Kingdom Peter Uzoho writes on the installation of Oba Oladele Idris Friday Kosoko as the new king of Awori Kingdom in Badagry

Oba Kosoko and his wife, Ruth

Oba Kosoko

The three months installation and majestic outing of HRM Oladele Idris Friday Kosoko (JP), the Ogundeyi 11, Oniworo of Awori Kingdom which held on Saturday, July 15, 2017, was full of pomp and pageantry. It was an occasion in which the ancient city of Awori in Badagry stood still to honour Kosoko. The weather was also clement. Kosoko, who represented Badagry federal constituency at the House of Representatives and was Chairman, Committee on Science and Technology, is the 24th Oba on the throne of his fore-fathers.His predecessor reigned for 50 years. It was indeed a spectacle to behold as there was a display of culture, royalty and tradition at the auspicious occasion. The occasion attracted the crème de la crème not only from Lagos State but from other states as well as outside the country. The venue of the occasion, Ajaye Compound Playground, was fully packed with kinsmen, friends, acquaintances, admirers and visitors who were on ground to rejoice with the celebrant and his elegant wife Oluwaseun Ruth. The venue was well secured as soldiers, Mobile Police, LNSC and other local community security outfits like the VGN were on duty to keep vigilance. Lagos Chairman of All Progressives Congress (APC), Otunba Henry Ajomale was chair-

man of the occasion, HRM, Oba Babatunde Ogunlaja (The Aladeshiyan of Odo-Noforija Epe division) was Royal father of the day, while Oba Oyekan Adekanmi (Alapa of Apa Egun-Awori Kingdom) was among the guests of honour including Oba Kabiru Agbabiaka (Osolo of Isolo-Kingdom. All the chiefs from Iworo-Awori kingdom, Igba kingdom, Badagry kingdom and beyond the shores of Lagos State were in attendance. Expectedly, Oba Akran of Badagry was in attendance. Yomi Amoye, Director, Chieftaincy Affairs in the Ministry of Chieftaincy Matters and Community Affairs represented Lagos State Governor, Akinwunmi Ambode. APC national leader, Chief Bola Tinubu, sent representatives as well as HRM, Oba Rilwan Akiolu (Oba of Lagos). All relevant groups for the occasion were represented and these included the: Kosoko Royal Family, Lagos, Egbe Oni yepe, women wing Ojo, Alapese, Odofin, Alaruwe, Aro, Asalu, Olisa, Aremo and the Adeniran Ogunsanya College of Education (AOCOED) among others. Ace actor, Jide Kosoko, was gracefully seated on the Kosoko Royal Family seat. He told THISDAY that he was delighted to be present at the occasion. Ambode in his goodwill message wished Kosoko peaceful reign, just as he promised

to support his tenure to be successful. “The government of Lagos State is wishing you a peaceful reign and we will provide all the needed support for you to succeed,” he noted. He also pledged to stop at nothing to ensure the quality of life of the people are improved. Hon. Bolaji Solomon, Sole Administrator, Olorunda LCDA, extolled the virtues of Kosoko as a vibrant, energetic and intelligent person who has served his people well and deserves his new position. In his speech, Chairman Central Planning Committee, for the installation project, Hon. Isola Hassan commended Kosoko for all his achievements for his people, while using the platform to appreciate the state governor, Ambode. But like Oliver Twist, he asked for more from government. “we are aware of the state government efforts at making life easier for his inhabitants, we believe that creation of more jobs, construction of skills acquisition centres, upgrading of the only secondary school along this axis, completion of the on-going water project at Imeke, construction of a primary healthcare centre at Iworo among others, will further enhance the growth of the community,” he noted. Seun Aransi Ola band popularly known

as De Honey Voices were also on ground to provide danceable music. A lot of catering outfits were contracted to provide eatery services and they included the Orosun Catering Services and Vocational Training Centre, No be me na God Services. Their mandate was to make sure there was enough to eat and drink and they lived to its billing. Kosoko, who danced to the admiration of the crowed with his beautiful wife during the ceremony, promised to rule with the fear of God and to be fair and just to all. The Oniworo urged his people to be lawabiding and to maintain sanity and clean environment. He read riot act to men that beat their wives and to those caught stealing. His words: “If you are caught stealing, you pay for it and we will deal with you by our law. If you know that you beat your wife, be warned as my leadership will not tolerate wife battering.” From all indication, the Oniworo of Aworo Kingdom is loved by his people given the massive turnout and the pleasant comments made on him. In all, the occasion was peaceful and worth-enjoying as the people had a filled day celebrating their Oba, who they say is the man of the people.

38/OPINION

04.08.2017

ADEOLAAKINREMI HOME TRUTHS

Email: adeola.akinremi@thisdaylive.com

Tel 08116759785(sms only)

An African Union summit

Wanted! Better Healthcare Financing for Africa Two unrelated recent events with discernible pattern in sub-Saharan Africa gave me hope and despair. In Mombasa, Kenya, a kindergarten boy from a poor home died in a horrific accident. He fell through a hole on the floor of a moving school bus in which he was riding. The bus crushed him to death. Despair. The floor of the school bus had become weak and dangerous–probably due to wear and tear—with a big size hole in square form that was covered with a plastic carpet to conceal the defect according to Kenya’s transport and safety authority, who investigated the accident. Indeed, the wobbly picture of the school bus that I saw truly forced tears out of my eyes. Sadly, the 7-year-old schoolboy will no longer realise whatever ambition he had for the world to be a better place due to negligence and poor planning by Kenya Government. In Sierra Leone, healthcare services had become penurious that the CNN’s anchorwoman, Isha Sesay, cried out last month with a tweet. Sesay wrote: “when my mother took ill in Sierra Leone last December I had to take her to Nigeria. I'm so grateful for Nigerian nurses and doctors who saved her life… I am thankful there were medical options in Nigeria for my mother because I had none available in Sierra Leone.” Hope. But Sesay’s experience with healthcare service in Nigeria is debatable, because the out of pocket medical treatment for her mother happened in Nigeria’s most expensive private hospital, and in the highbrow of Lagos—a kind of place that could boast of such well-

equipped private hospital. So, the experience Sesay had is at best for a limited number of people with such affordability. In Nigeria, healthcare financing is not advancing as expected, leaving millions of citizens with roadblocks to freedom as access to quality healthcare becomes a bottleneck. It is the same everywhere in Africa. Last year, when Uganda’s only cobalt-60 radiation machine broke down, the Uganda Government passed the burden to Kenya, sending thousands of patients affected by cancer to Nairobi, and delaying replacement of the radiation machine for one year. Corruption, cronyism, record unemployment, slowing growth and stubborn inequality have dogged governance in Africa for decades. But the African heads of states added one more problem: nonchallant attitude to healthcare financing for their citizens. For instance, despite the progress made on policy initiatives in several African countries, mechanism for financing the implementation of the policies has been the elephant in the room. In Ghana, where appreciable progress has been made toward universal health coverage, the inability of the country’s national health insurance scheme to pay claims submitted by healthcare service providers has resulted in high indebtedness to the health facilities, placing the scheme in jeopardy. Surely, in Africa people live with chronic diseases for years without medical history—an important tool in management of patient’s health condition. I started thinking: May be people are not falling sick. But the reality is that the out of pocket treatment has hindered

many from going to hospitals for even the basic preventive medicine like doing periodic medical check-up. Of course, when people come down with terminal disease we all know that early detection system failed either because the individual didn’t have access or due to nonchalant attitude. In most cases it is the former. Really, it is regressive to continue out of pocket medical treatment in Africa as global healthcare cost rise through the roof. Evidently, the long-term solution to such problems is for political leaders to turn the commitment to a common cause, uniting their interest with that of others such as people with vested interest to remove the roadblocks. For advocates, it means the healthcare services can reach the poorest and affordable, making universal health coverage a “hyperloop”: a word coined by Elon Musk to describe his new plan to reinvent transportation to eliminate the barriers of distance and time in the United States. Taken together, Africa will need to improve health system to a level where health facilities are nearby, high quality and affordable, even for the most vulnerable. But think about this: Africa is projected to see a 24 per cent increase in the number of births by 2030, yet the maternal deaths in the region is higher compared to others. True, if you look at the graph, some of the highest mortality rates in the world are all countries on the African continent. In fact, in world Atlas, approximately 62 per cent of all maternal deaths worldwide happens in Africa, with Sierra Leone leading the pack.

Another thing to think about is Africa’s population. By 2050, Africa would have increased the world’s population scope with additional 1.3 billion people, a time when Nigeria for example would have successfully defeated the United States in population contest. Now, shouldn’t African leaders accelerate progress in healthcare financing to meet today’s needs of its citizens and prepare for the future? Perhaps, it drives home the point that in Africa the rich also cry, when it comes to healthcare service. Do not go too far in your thought: think of how many African presidents and cabinet ministers have left home to become patients in hospitals abroad. Think of those who returned home in a coffin. Now is the time to act and one good news is that a number of actors are harmonising strategies to remove the obstacles and breakdown barriers in the process of translating known solutions to action. So when I learned of USAID’s commitment from the American people through African Collaborative for Health Financing Solutions, and partnership being forged by international nonprofit like Results for Development, Duke University and Free the Children, I feel some excitement for the future of a typical African child—the one who offers reed to snake, listens to the sounds of anvils and customers in Camara Laye’s words. Yes, I agree that the African Collaborative for Health Financing Solutions definitely presents an opportunity to national governments in Africa to mobilise multisectoral action behind a good cause. Follow me on Twitter: @adeolaakinremi1

T H I S D AY ˾ ˜ Ͳ˜ 2017

BUSINESSWORLD

ANALYSIS

Halting the Controversial FG, Agip-Oando Refinery Deal Damilola Oyedele takes a look at the recent decision of the Senate to halt further talks between the federal government and Agip-Oando Plc on the planned concession of the Port Harcourt Refinery News of the planned concession of Port Harcourt Refinery to AGIP/Eni and Oando Plc for its rehabilitation, caused some discomfiture in the sector. Not just because of the planned concession, but because of the non-transparent manner in which the deal was allegedly brokered, particularly under an administration that sold itself on the promise of transparency, openness and anti-corruption to Nigerians. The planned concession was further confirmed when the Group Chief Executive of Oando Plc, Mr. Wale Tinubu while speaking at the Nigerian Stock Exchange in Lagos on May 11,2017, disclosed that his company had signed an MoU with the federal government, to manage the refinery under a ‘repair, operate and maintain’ arrangement. “We also got approval from the president to repair, operate and maintain the Port Harcourt Refinery together with our partner, Agip. We plan to increase the refinery’s capacity from 30 per cent to 100 per cent, subsequently to 120 per cent,” Tinubu was quoted to have said. Tinubu also reportedly said that details of the arrangement were being fine-tuned, and would be concluded by the end of July 2017 (last month). It was therefore a relief when the Senate in May, 2017 ordered that any planned concession of one of the country’s three refineries be put on hold, until its investigations into the allegations of non transparency in the deal, are concluded. The Senate, therefore on May 30, 2017 constituted a seven member adhoc committee to probe the alleged deal, with the mandate to carry out a holistic investigation to determine how and why such a deal was sealed, and the criteria used to select AGIP/Eni and Oando Plc to maintain the refinery, and at what cost and time frame. The committee had summoned the several stakeholders including the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and officials of the oil companies involved in the deal. Controversies at Investigative Hearing At the hearing, which took placed on July 13, 2017, Kachikwu denied there was no plan or intention to concession or privatise the refinery. He also practically disowned Tinubu, when he declared that he did not know what informed the statement by the Oando boss. “Oando seems to have jumped the gun in announcing something that isn’t happening. No planned concession, nothing like that in the works, so I do not know where that information is coming from. There has never been any approval from anybody including President Muhammadu Buhari, to concession any refinery. There has never been any memo that I did, to ask for concession of any refinery,” the minister told the committee. Kachikwu also faulted publications quoting him as speaking about a plan to concession the refinery and denied making any statement that indicated that the government would privatise or sell the Port Harcourt Refinery, or other state owned refineries. He also disclosed that an estimated $300 million would be required for the repair of the refinery to get it to function optimally at its full capacity. His position was corroborated by the Chief Operating Officer (Refineries) of the Nigerian National Petroleum Corporation (NNPC), Mr. Anigho Kragha, who also said there was no plan for the concession. “At no time has there been any plan for any privatisation of any of NNPC’s refineries. So let me just reiterate that there is no plan to privatise the Port Harcourt refinery,” he said. Tinubu, in his presentation to the committee, said his statement regarding the rehabilitation of the refinery was taken out of context with some media stating ‘Oando Takes Over Port Harcourt Refinery’. Tinubu stated that Oando placed some advertorials to clarify his statement at the NSE, adding that the controversy started as a result of

Kachikwu

a misconception that there is a concession plan. “I think parties in the industry must be allowed to engage the regulators to discuss solutions and possibilities and they must be negotiated and crafted into something worthy of being taken to the regulators, to consider whether or not it will lead to concession or transactions worthy of regulators’ approval,” he said. He added: “The truth of the matter is that we do need to be allowed as professionals to carve out our position before we can present it. Along the line, as corporates, we do meet with our regulators and many times expressions of interests have been submitted regarding how the refineries can be revamped. We call it memorandum of understanding.” Tinubu told the committee that in the course of his career spanning over 25 years in the oil sector, he has signed over 100 MoUs with the NNPC, which were derived from meetings. Memoranda submitted to the committee by Agip/Eni and Oando, as quoted in the committee’s report, stated that no mandate of agreement was signed for the sale, equity transfer

The Committee led by Senator Abba Kyari however maintained that there have been several statements by Kachikwu himself which pointed to plans that the reﬁneries may be, or should be concessioned. Kyari also noted that the advertorials, which were intended to clarify Tinubu’s statement, also lent credence to the impression that the reﬁnery was being concessioned

Tinubu

or privatisation of the Port Harcourt refinery. The committee had noted that the NNPC publicly disclosed that it was evaluating the current state of its refineries and the cost implications for rehabilitation, for which it was holding preliminary discussions with private sector organisations to aid the development of a technical and financial structure that will support the rehabilitations. “ENI has proposed to support the refinery rehabilitation programme, specifically Port Harcourt Refining Company, in which it has a long history of technical involvement. In addition, ENI’s credentials and track record showcase extensive experience necessary for a successful rehabilitation programme,” “ENI/NAOC have selected Oando PLC as local partner to support FG’s refinery rehabilitation efforts since Oando plc and ENI/NAOC share a long standing and successful working relationship,” the memo added. The Committee’s Position/Report The Committee led by Senator Abba Kyari however maintained that there have been several statements by Kachikwu himself which pointed to plans that the refineries may be, or should be concessioned. Kyari also noted that the advertorials, which were intended to clarify Tinubu’s statement, also lent credence to the impression that the refinery was being concessioned. In the final report of the committee which was adopted at Senate plenary last week, the committee said the process of the concession was not transparent. The Senate therefore ordered a discontinuance to talks between the Federal Ministry of Petroleum Resources, Agip/ENI and Oando Plc, on the rehabilitation of the Refinery. It condemned what it described as the nontransparent process that was seemingly being adopted by the ministry and the NNPC, to engage the companies, to rehabilitate and improve the performance of the refinery. The Senate further stated that it is ‘highly unlikely’ that the proposed agreement to handover the rehabilitation of the refinery to ENI/Oando, is false, following a separate deal of $6 billion contracts for Crude -for- Products swaps of Direct Sale-Direct Purchase (DSDP) by the Ministry to 10 groups or consortia which included ENI/ Oando Plc.

Adopting the report of the committee, the lawmakers directed that the process must be open and competitive, to allow participation of all relevant stakeholders. “Otherwise, it would be misconstrued as backdoor transfer of the asset to the preferred investor”, the Senate said, adding that the public invitation for bids under clearly spelt out terms and conditions should be re-advertised. The committee’s report noted that the parties involved denied that there were plans for concession of the refinery; it however cited several pointers indicating that the plans existed, to include reported comments by Kachikwu and Tinubu. “There have been various contradictions in the Hon. Minister of State for Petroleum Resources public statements and media briefings on the true position of the subject matter culminating in his statement at the public hearing that there is no planned concession on the refinery, no concession has been embarked upon and none is in the pipeline,” the committee added. The statement did not correspond with the alleged earlier press briefings including one at Vienna, Austria by Kachikwu, the committee observed. It also stated that there had been advertisements for Expression of Interest in April 2016 seeking financiers to fund, rehabilitate and jointly operate NNPC refineries, whose tender process was truncated in May 2016 following concerns raised by other relevant stakeholders. “That competent independent technical consultant should be engaged to review the diagnostic report (under preparation) on the refinery, and recommend a suitable strategy for attracting private sector investment, taking into consideration re-appraised rehabilitation cost estimates, environmental concerns of host communities and labour issues,” the report noted. “Based on international best practice, it is more likely that a credible financier will cause an independent diagnostic review to be undertaken that would be the basis for determining cost estimates for rehabilitation,” it added. As observed by Senate President Bukola Saraki when he declared the investigative hearing open, it is important that Nigeria does things in the right manner in order not to send wrong signals to investors and international development partners. “As a country, for us to move forward, we should be seen to be doing right things in line with the change agenda of the present administration,” he said.

T H I S D AY â€˘ FRIDAY, AUGUST 4, 2017

CITYSTRINGS

Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com

Reesidents of Okellele area of Ilorin in search of potable water

Water Scarcity Bites Hard in Ilorin Hammed Shittu writes that water scarcity in Ilorin is hitting hard on the residents of the city and its environs

he World Water Day was marked recently across the globe. This shows the importance of water in the socio-economic life of mankind. Water can be used for washing, bathing, drinking among others. And this has made many households, government and individuals in the society to always strive harder to ensure the availability of water in their various homes, offices, among others so as to make life worth living. However, the pitiable situation of lack of potable water in the ancient town of Ilorin, and other major towns in Kwara State has continued to give the residents of the State of Harmony, sleepless nights. Worst hit is the ancient town of Ilorin that happens to be the state capital which had been in dire need of potable water for almost 40 years and without any water supply running across the pipes in different homes in the town. The successive administrations in the state either military or civilian had tried all their possible best to ensure water is available at the doorsteps of the people of the ancient town despite the availability of two major dams, Asa and Agba in the ancient town of Ilorin but alas the situation remained the same. This ugly development has continued to portray the state in bad light. The hope of the community to get potable water was brighten between 1999 and 2003

when the former military governor of Ogun State, Vice Admiral Muhammed Alabi Lawal (rtd) who happened to be an indigene of Ilorin was elected as the civilian governor of the state in 1999 but his reign was shortlived when he could not get reelected for second

The pitiable situation of lack of potable water in the ancient town of Ilorin, and other major towns in Kwara State has continued to give the residents of the State of Harmony, sleepless nights. Worst hit is the ancient town of Ilorin that happens to be the state capital which had been in dire need of potable water for almost 40 years and without any water supply running across the pipes in different homes in the town

term during the 2003 governorship elections in the state. Lawal actually began the expansion of Asa Dam River and Agba Dam River with the intention of pumping more potable water to the people of the state. This followed the erection of bigger reservoirs across the Ilorin metropolis in order to ensure that the water that is pumped from both dams gets to the erected reservoirs in earnest so as to allow the residents of the state get potable water in the ancient town. This was the situation of the water supply in the Ilorin metropolis until the former governor of the state, Bukola Saraki, son of Kwara political godfather, late Olusola Saraki, took over the mantle of leadership of the state in 2003. Upon assumption of office, Saraki who is the incumbent Senate President took up another challenge of ensuring that potable water was made available at the doorsteps of residents of Ilorin and environs. A new design of expansion of Ilorin water project was made and the contract was awarded at the cost of N2.3 billion. The contractors commenced work on the Ilorin water reticulation project. Pipes were sunk across the length and breadth of Ilorin metropolis. The project also ensured the replacement of old pipes that had been laid in Ilorin for almost 40 years ago. The administration of Saraki could not

ensure the completion and inauguration of the Ilorin water project before the completion of his two terms of eight years in office. The new administration of governor Abdulfatah Ahmed took over the reins of governance of the state under the political platform of â€œLegacy Continuesâ€?. The administration therefore inherited all the ongoing projects including that of Ilorin water project. The Ilorin water project contract was also reviewed making it up to over N5 billion so far committed to the project. But up till now, the project is still ongoing and yet to see the light of the day when it is only two years left for Ahmed to complete his two terms of eight years in office. This ugly development in the ancient town of Ilorin has led many residents to trek long distance before they can get potable water. Some of the donor agencies and wealthy individuals have sunk deep boreholes across the Ilorin metropolis for the residents of the ancient town but yet it has not met their expectations as non constant power supply has affected the positive use of the boreholes that were sunk in some areas in Ilorin town. The situation is however compounded with the ongoing dry season as many of residents could not sleep with their two eyes closed again as they normally wake up between the 4a.m. and 5a.m. in search of potable water across the Ilorin metropolis.

T H I S D AY • FRIDAY, AUGUST 4, 2017

CITYSTRINGS

Ahmed...when will residents of Ilorin get potable water? Residents of Oloje area of Ilorin in search of potable water

A resident, Alhaja Iyabo Bello expressed disappointment over the insensitivity of the government to the problem of water scarcity in Ilorin, the state capital. She said that, it was painful that the government that had promised the people of the state a new lease of life could now abandon the residents Residents of Abayawo area of Ilorin in search of potable water

To make matters worse, most of the rivers have dried up due to the dry season while some have been infected with diseases such that if urgent step is not taken, it may lead to epidemic in the ancient town. When THISDAY visited some parts of Ilorin, some residents have no access to potable water neither for cooking nor bathing. THISDAY investigations revealed that, residents were seen across the nooks and crannies of the state capital carrying buckets and kegs around looking for water without success. Even some of them abandoned their shops because they have to look for water either for cooking or washing their household clothes. Some of the affected areas include, Gaa Akanbi, Kuntu, Okelele, Okekere, Oloje, Danialu, Offa Garage, Olunlade, Opo Maalu, Omoda, Oja Oba, Adeita, Balogun Gambari, Emirs road, Unity, Murtala, ITC, Gaa Imam among others. Residents were seen lamenting the agony they were going through before getting water. The development according to THISDAY checks had led to the increase in the prices of pure water sachet in the town. A sachet of pure water that used to sell for N5 per one is now two for N15 in some places while a bag of pure water is now between N150 and N180 depending on the producer of such pure water in the town. A resident, Alhaja Iyabo Bello expressed disappointment over the insensitivity of the government to the problem of water scarcity in Ilorin, the state capital. She said that, it was painful that the government that had promised the people of the state a new lease of life could now abandon the residents. Bello, therefore, appealed to the state government to rise up to the ugly situation saying that, “if care is not taken, it may lead to outbreak of epidemic in Ilorin, the state capital.”

Residents of Anifowose area of Ilorin in search of water

A community association in Ilorin, Alore Central Youths Development Association has decried non availability of water supply in the community. It has drawn government’s attention to the plight of the residents over the water scarcity in Ilorin, These formed parts of the resolutions reached during the one year anniversary prayer of the creation of Alore Central Youth Development Association held at the community’s Mosque, Alore, Ilorin. Speaking at the prayer session of the association recently in Ilorin, the chairman of the Alore Joint Community Development Association, Engineer Yusuf Salman, said the

31 communities that made up the community must come together and rise against all forms of social vices pervasive in the community. He called on the state government to live up to its responsibility of providing potable water to the residents, lamenting that a situation where residents of the community would have to pay N2,500 rate for water not supplied to them was unacceptable. The president also said the community had declared a “no light, no distribution of bills, no payment’’ campaign against the Ibadan Electricity Distribution Company IBEDEC over continued poor power supply to the community for which they have complained

several times. Chairman, Alore Central Development Association, Alhaji Abdulrahaman Olowookere had earlier in his speech expressed the association’s commitment to mould youth that will make the community proud. Olowookere said that the community in the last one year had facilitated admission of many qualified youths into various higher institutions of learning in the state. While residents of Ilorin in Kwara earnestly pray for the rainy season to come, the acute shortage of water supply remains constant and they still wonder and ask when will water run through their pipes?

T H I S D AY Ëž , AUGUST 4, 2017

BUSINESS/MONEYGUIDE

NDIC: Banking Industry Fraud Drops by 48.12% in 2016 Obinna Chima The banking industry recorded a decline in the rate of successful fraud incidences and extent of amount of losses in 2016, compared to 2015. The NDIC Managing Director/ Chief Executive, Alh. Umaru Ibrahim, disclosed this while delivering a lecture: â€˜The Role of NDIC in Mitigating Corruption in the Nigerian Banksâ€™ at the general meeting of the Abuja Chapter of the Alumni Association of the National Institute (AANI). According to Ibrahim who was represented by a Deputy Director in Research, Policy and International Relations Department, Mr. Hashim Ahmad, the reported cases of frauds, forgeries and outright theft involving bank staff recorded a huge decline of 48.12 per cent from N18.02 billion in 2015 to N8.68 billion in 2016, while the actual losses to the nationâ€™s banking industry dropped by 24.29 per cent from N3.17 billion in 2015 to N2.40 billion in 2016. Also, the level of attempted

cases of frauds and forgeries declined by N0.329 billion or 11.94 percent from N2.756 billion in March 2017 to N2.427 billion in June 2017. The NDIC boss also stated that although reported cases of fraud and forgeries rose by 36.42 per cent from 12,279 cases in 2015 to 16,751 cases in 2016, the reduction in the rate of successful fraud incidences and actual losses was an indication of improved regulatory/supervisory oversight, increased vigilance by banks and the deployment of improved security architecture in the banking industry. He attributed the factors breeding corruption in Nigerian banks to poor corporate governance, infractions in foreign exchange operations, cumbersome legal process and lack of effective sanctions of offenders, amongst others. Ibrahim reiterated that the NDIC in conjunction with the Central Bank of Nigeria (CBN) continuously supervise the banks to ensure their strict adherence to sound corporate governance practices. He added that issues

bordering on unethical financial practices and the resolution of conflicts between customers and their banks were being addressed by the Bankers Committee. The NDIC boss also noted the rising trend in the level of banksâ€™ non-performing loans (NPLs) and stated that the NDIC had recommended the prohibition of Directors of licensed banks, including microfinance banks (MFBs) and primary mortgage banks (PMBs) from obtaining credit facilities from their respective banks. Ibrahim, in a statement, pointed out that the NDIC collaborated with other stakeholders such as the Economic and Financial Crimes Commission (EFCC), Police Special Fraud Unit (PSFU) and the Financial Malpractices Investigation Unit (FMIU) to conduct investigations into banking malpractices. He also stated that the NDIC provided capacity building programmes for the agencies in addition to seconding some NDIC Staff to the institutions to assist them in investigating financial crimes.

Banks Now Offer Naira Quotes on Screens to Attract Dollar Holders Nume Ekeghe with agency report Nigerian banks have started showing investors price quotes for the naira on their screens instead of giving them by phone, traders said. The move is part of an effort to draw dollars back to the Nigerian economy, which has been short of dollars since the price of crude oil, the main source of hard currency, plunged three years ago, Reuters reported. The central bank hopes the move would further narrow the spread between the official and black market rates by attracting more investment with higher transparency, traders said. Market operator FMDQ Securities Exchange initiated the change with an email on Monday, citing the need to improve liquidity. Trading by phone will also continue, traders said.

â€œThis will ensure rates distortion on the FX market are considerably minimised, serving to improve and maintain the credibility of the Nigerian FX market,â€? FMDQ said in the e-mail, adding that the move would start immediately. A central bank official sits on the board of FMDQ. Banks quoted the naira as weak as N371 to the dollar on the investor window on Thursday, Thomson Reuters data showed, but some were exchanging the dollar at N315 naira among themselves, traders said. Investors exchanged the naira at N400 to the dollar in May. The naira has recovered some ground in recent months as oil revenues improved, after reaching a record low to N520 to a dollar. On the official market, the naira ended Thursday at N305.55 to a dollar, the rate where the central bank has kept

it through regular dollar sales since last August. The central bank has been working to converge the rates through interventions, but the dollar sales are burning through its reserves. In April it allowed investors to trade the naira at rates determined by the market, a move intended to improve dollar supply, but one that introduced yet another exchange rate. The bank has said the investor window had handled $2.2 billion of trade since April. However, it accounted for almost 30 per cent of that trade itself as it worked to keep the window operating. The central bank last year lifted a temporary peg on the currency, but to protect its precariously low foreign reserves it introduced a convoluted exchange rate system that sees different buyers paying various rates for dollars

FMBN Orders Non-subscribers from Own Estates, to Sanction Developers James Sowole Ă“Ă˜ Ă•Ă&#x;ĂœĂ? The Federal Mortgage Bank of Nigeria (FMBN) has read riot act to developers of its estates in Ondo State, directing those handling its estates to eject non -subscribers occupying buildings in its estates or face the wrath of the institution. The FMBN Managing Director, Mr Ahmed Dangiwa issued the warning in Akure, Ondo State capital, when he led the management of the bank on inspection of the institutionâ€™s estates in the state. Dangiwaâ€™s team visited the Rabatel Estate on Akure-Owo Road, Afro Stuff Estate, HOB Estate behind Federal Secretariat and Alpha 3D Estate on Irese Road all in Akure, the state capital. The managing director fumed that rather than giving the houses to off-takers, they rent them out to tenants and collect rents to the detriment

of the federal governmentâ€™s purpose for the project. He said that the affected developers would be made to pay all the monies collected from tenants or risked revocation of the estate development contract. â€œAs a developer, once you complete an estate, you are supposed to hand it over to the off-takers who will mortgage it. Most of the developer after completing the estate they will prefer renting the estate and start collecting money. â€œThat is wrong and that is why we have to summon both the developers overseeing the mortgaging of these houses. â€œThere will be punishment for them. They have to pay back the money they have collected because it is not meant for them. They have to start getting the off takers to mortgage the estate,â€? Dangiwa said. The managing director, who

expressed disappointment at the sharp differences between the amount disbursed and the level of work done, said the bank had summoned the concerned developers. â€œThere are issues of non-performance and, that is why we have to summon some developers. The money that has been disbursed to them is not commensurate with the work on ground as to which most of this developers are facing and we have to address it immediately. â€œThe threatening to take over the estate is to the fact that some of the houses are completed but they prefer to lease out as a rent than mortgage it. â€œThat is why we threatened to take over it even from the primary institution that is supposed to mortgage these houses. Weâ€™ve summoned both the developer and the primary mortgage institution to our office for explanations,â€? he said.

Umaru Ibrahim

MARKET INDICATORS MONEY AND CREDIT STATISTICS

Ě™ Ěš

DECEMBER 2016 Broad Money (M2)

23,840,392.42

Ě‹Ě‹ Ă‹ĂœĂœĂ™ĂĄ Ă™Ă˜Ă?ĂŁ Ě™ ÍŻĚš

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

Ě‹Ě‹ Ă?Ăž Ă™Ă—Ă?Ă?ĂžĂ“Ă? ĂœĂ?ĂŽĂ“Ăž Ě™ Ěš

26,970,297.97

Ě‹Ě‹Ě‹Ě‹ ĂœĂ?ĂŽĂ“Ăž ĂžĂ™ Ă™Ă Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ě™ Ă?ĂžĚš

4,595,579.89

Ě‹Ě‹Ě‹Ě‹ Ă?Ă—Ă™Ë? ĂœĂ?ĂŽĂ“Ăž ĂžĂ™ Ă™Ă ĂžË› Ě™ Ă?ĂžĚš Ă–Ă?Ă?Ă?

7,436,917.79

Ě‹Ě‹Ě‹Ě‹ Ă?Ă—Ă™Ë? Ă?ĂŽË› Ă‹Ă˜ĂŽ Ă“ĂœĂœĂ™Ăœ Ă?Ă?Ă™Ă&#x;Ă˜ĂžĂ? Ě™ Ěš

-2,841,337.90

Ě‹Ě‹Ě‹Ě‹ ĂœĂ?ĂŽĂ“Ăž ĂžĂ™ ĂœĂ“Ă Ă‹ĂžĂ? Ă?Ă?ĂžĂ™Ăœ Ě™ Ěš

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

Ě‹Ě‹ Ă&#x;ĂœĂœĂ?Ă˜Ă?ĂŁ Ă“Ă˜ Ă“ĂœĂ?Ă&#x;Ă–Ă‹ĂžĂ“Ă™Ă˜

2,179,174.28

Ě‹Ě‹ Ă‹Ă˜Ă•Ă? Ă?Ă?Ă?ĂœĂ Ă?Ă?

3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

MANAGED FUNDS Month Inter-Bank Call Rate

December 2016 10.39

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT, WED, 2 AUGUST 2017 The price of OPEC basket of fourteen crudes stood at $49.73 a barrel on Wednesday, compared with $49.59 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

˾ FRIDAY, AUGUST 4, 2017

Nigeria’s top 50 stocks based on market fundamentals

3-Aug-17

2-Aug-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

Open 2-Aug-17

NSE All Share Index NSE Market Cap (N'Trillion)

36,905.06 12.72

37,135.23 12.80

0.62% 0.62%

156.20 12.16

157.21 12.24

0.65% 0.65%

01 Dangote Cement Plc

240.00

239.99

0.00%

4,089,721,777,200.00

10.95

21.91

6.65

3.33%

5.13

02 Nigerian Breweries Plc

172.40

171.25

0.67%

1,366,976,993,091.20

3.58

48.10

4.36

2.09%

8.24

03 Guaranty Trust Bank Plc

40.01

39.00

2.59%

1,177,541,480,752.24

4.49

8.90

2.84

4.42%

2.33

1,026.42

0.00%

813,598,230,177.84

10.00

102.66

4.47

2.83%

26.35

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

05 Zenith Bank Plc

25.40

25.00

1.60%

797,470,942,164.40

4.13

6.15

1.57

7.09%

1.13

Table 3 Top 5 Gainers

06 Stanbic IBTC Holdings Plc

37.55

0.00%

375,500,000,000.00

2.85

13.17

2.40

0.27%

2.67

Stock

07 United Bank for Africa Plc

9.90

9.97

-0.70%

359,167,310,587.80

1.99

4.97

0.94

6.06%

0.80

08 Ecobank Transnational Incorporated

17.00

16.50

3.03%

311,942,370,655.00

0.68

25.13

0.53

3.65%

0.50

09 Presco Plc

74.50

0.00%

295,800,539,852.50

0.03

2,547.90

4.15

1.74%

7.07

10 Access Bank Plc

10.00

9.99

0.10%

289,279,716,310.00

13.18

0.76

5.50%

0.64

11 Lafarge Africa Plc

58.00

57.75

0.43%

264,184,304,980.00

3.71

15.63

1.20

5.17%

1.06

470.10

0.00%

260,111,178,141.30 -82.02

-5.73

4.10

3.39%

0.69

04 Nestle Nigeria Plc

12 Seplat Petroleum Dev. Co. Ltd 13 FBN Holdings Plc

6.01

0.00%

215,730,709,679.92

0.21

28.96

0.41

2.50%

0.35

14 Dangote Sugar Reﬁnery Plc

14.00

12.75

9.80%

168,000,000,000.00

1.20

11.67

0.99

3.57%

2.54

15 Unilever Nigeria Plc

40.00

0.00%

151,331,850,000.00

0.81

49.26

2.17

0.13%

12.95

16 International Breweries Plc

34.00

0.00%

112,004,475,520.00

0.02

1,508.97

4.21

0.74%

10.21

17 Guinness Nig Plc

72.00

69.87

3.05%

108,423,949,536.00

-3.06

-23.54

1.05

4.44%

2.75

8.00

7.85

1.91%

96,276,951,152.00

0.29

27.55

0.21

9.38%

0.50

19 Total Nigeria Plc

261.50

0.00%

88,784,960,375.50

43.58

6.00

0.31

5.35%

3.77

20 Mobil Oil Nig Plc

232.00

240.65

-3.59%

83,658,100,784.00

22.61

10.26

0.89

3.10%

3.90

21 Flour Mills Nig. Plc

30.00

29.20

2.74%

78,727,115,610.00

-1.19

-25.14

0.19

6.67%

0.79

22 Forte Oil Plc.

57.50

0.00%

74,892,663,422.50

2.22

25.91

0.50

6.00%

1.73

23 Okomu Oil Palm Plc

72.23

0.00%

68,900,919,300.00

5.15

14.03

4.80

0.14%

4.05

24 7-Up Bottling Comp. Plc

90.25

0.00%

57,813,280,260.75

-0.05 -1,975.91

0.62

2.44%

2.60

1.43

1.41

1.42%

55,371,026,317.75

-0.03

-49.13

0.93

0.00%

0.64

34.20

0.00%

45,144,000,000.00

-2.89

-11.83

0.32

4.39%

0.64

1.28

1.30

-1.54%

37,072,109,685.76

0.39

3.31

0.25

12.50%

0.20

28 U A C N Plc

17.50

17.21

1.69%

33,615,126,772.50

3.37

5.19

0.44

5.71%

0.44

29 National Salt Co. Nig. Plc

11.50

11.59

-0.78%

30,468,541,347.00

0.91

12.62

1.67

4.78%

3.79

30 Sterling Bank Plc

1.03

1.02

0.98%

29,654,130,669.78

0.18

5.74

0.27

8.74%

0.35

31 Diamond Bank Plc

1.28

0.00%

29,645,297,879.04

-0.29

-4.36

0.14

0.00%

0.13

32 PZ Cussons Nigeria Plc

24.98

0.00%

24,980,000,000.00

5.69

4.39

1.74

0.40%

0.67

33 Cap Plc

34.99

0.00%

24,493,000,000.00

2.29

15.28

3.59

3.29%

10.73

1.22

1.25

-2.40%

24,159,307,152.82

0.72

1.68

0.14

8.20%

0.14

20.00

0.00%

23,917,529,760.00

3.51

5.69

1.66

1.50%

1.40

2.20

0.00%

23,100,000,000.00

0.25

8.77

1.12

2.27%

1.14

11.51

0.00%

21,618,105,480.40

-0.16

-72.94

0.72

11.29%

1.96

38 Wema Bank Plc

0.55

0.56

-1.79%

21,215,956,344.55

0.07

8.19

0.39

0.00%

0.44

39 Custodian And Allied Insurance Plc

3.50

0.00%

20,586,524,682.50

0.91

3.86

0.53

4.00%

0.68

40 Honeywell Flour Mill Plc

2.21

2.27

-2.64%

17,525,736,824.18

-0.40

-5.47

0.36

7.24%

0.53

41 Continental Reinsurance Plc

1.35

0.00%

14,003,204,821.20

0.42

3.21

0.63

8.89%

0.75

42 Cement Co. Of North.Nig. Plc

8.94

8.52

4.93%

11,234,699,228.04

0.22

40.84

1.01

1.12%

1.05

43 Skye Bank Plc

0.71

0.68

4.41%

9,855,014,001.10

-2.93

-0.24

0.06

42.25%

0.09

44 Unity Bank Plc

0.60

0.00%

7,013,602,765.20

0.19

3.21

0.08

0.00%

0.08

45 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

46 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

47 UACN Property Development Co. Limited

2.91

0.00%

5,001,562,485.45

-0.90

-3.23

0.79

24.05%

0.15

48 Nigerian Aviation Handling Company Plc

2.90

2.77

4.69%

4,710,234,375.00

0.36

8.11

0.59

6.90%

0.73

49 Fidson Healthcare Plc

3.00

3.09

-2.91%

4,500,000,000.00

0.21

14.21

0.59

1.67%

0.68

50 AIICO Insurance Plc

0.57

0.59

-3.39%

3,950,216,553.60

1.48

0.39

0.15

8.77%

0.45

18 Oando Plc

25 Transnational Corporation Of Nigeria Plc 26 Julius Berger Nig. Plc 27 Fidelity Bank Plc

34 FCMB Group Plc 35 Glaxo Smithkline Consumer Nig. Plc 36 Mansard Insurance Plc 37 Cadbury Nigeria Plc

TOTAL

12,241,030,982,026.80

TOTAL MARKET CAP

12,799,503,280,652.30

% OF MARKET CAP Annotation - MA* = Simple Moving Average

95.64%

Close 3-Aug-17

Open 2-Aug-17

Dangote Sugar Reﬁnery Plc Cement Co. Of North.Nig. Plc Nigerian Aviation Handling Company Plc Skye Bank Plc Guinness Nig Plc

Change %

Close Change 3-Aug-17 %

12.75 8.52 2.77

14.00 8.94 2.90

9.80% 4.93% 4.69%

0.68 69.87

0.71 72.00

4.41% 3.05%

Table 4 Top 5 Losers Stock

Open 2-Aug-17

Mobil Oil Nig Plc AIICO Insurance Plc Fidson Healthcare Plc Honeywell Flour Mill Plc FCMB Group Plc

240.65 0.59 3.09 2.27 1.25

Close Change 3-Aug-17 % 232.00 0.57 3.00 2.21 1.22

-3.59% -3.39% -2.91% -2.64% -2.40%

Market sustains bullish trend with 0.62% gain Market pulse on the Nigerian Stock Exchange (NSE) today- Wednesday, August 3st, 2017 ended bullish as the market record positive changes. The equity market closed green due to positive performances from the NSE Subsectors: Banking, Insurance and Consumer Goods (Save Oil & Gas). Correspondingly, trading activities increased in volume as 412.12 million shares worth N4.72 billion in 4,207 deals exchanged hands today. This is an increase from the 251.01 million shares worth N4.05 billion in 4,047 trades carried out on Wednesday. Topping in volume terms are: Access Bank Plc, Guaranty Trust Bank Plc and Transnational Corporation Of Nigeria Plc; while Guaranty Trust Bank Plc and Access Bank ended trading as the most active stocks in value terms. Brent crude oil price today shows downward signal as it dips to US$52.68per barrel while it drop to $52.36 per barrel at its previous closing. The All Share Index (NSEASI) closed positive with 0.62% (+230.17) increase to close at 37,135.23 from 36,905.06 the previous trading day. Market capitalization appreciated in tandem to N12.80 trillion from N12.72 trillion of prior trading day. However, the Thisday BGL 50 Index closes with an increase of 0.65% to 157.21 from 156.20 recorded at the end of the previous trading day, while its market capitalization stood at N12.24 trillion from N12.16 trillion of the previous trading day. A total number of 25 stocks gained on the bourse today while 17 stocks declined, leaving 54 stocks unchanged. Leading the pack was Dangote Sugar Refinery Plc with a gain of 9.80% to close at N14.00 per share. It was followed by C&I Leasing Plc with a gain of 9.09% to close at N0.96 per share. Others on the gainers’ list include: Newrest Asl Nigeria Plc, Livestock Feeds Plc and CCNN Plc. On the decliners’ list, Cutix Plc led with a loss of 5.00% to close at N2.09 share. It was followed by NPF Microfinance Bank Plc with a loss of 4.76% to close at N1.20 per share. Others on the decliners list include: May & Baker Nigeria Plc, Mobil Oil Nig Plc and AIICO Insurance Plc. Dangote Sugar Refinery Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 9.80% to close at N14.00 per share. It was followed by CCNN Plc with a gain of 4.93% to close at N8.94 per share. Others on the gainers chart include: Nigerian Aviation Handling Company Plc, Skye Bank Plc and Guinness Nig. Plc. On the decliners’ list, Mobil Oil Nig Plc led with a loss of 3.59% to close at N232.00 per share. It was followed by AIICO Insurance Plc with a loss of 3.39% to close at N0.57 per share. Others on the decliners’ list are: Fidson Healthcare Plc, Honeywell Flour Mill Plc and FCMB Group Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the ﬁrm may have a conﬂict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY ˾ , AUGUST 4, 2017

MARKET NEWS

Presco Grows Half-year Profit by 84% to N5.6 Billion Goddy Egene and Nosa Alekhuogie Presco Plc has raised shareholders hope for another bountiful harvest at the end of the current financial year following improved half year financial performance to June 30, 2017. The fully integrated palm oil company, paid a dividend of 150 kobo per share for 2016 financial

year following an impressive performance that saw profit after tax (PAT) soared by 772 per cent. Presco on Wednesday released its results for H1 of 2017, showing a revenue of N12.825 billion, from N7.518 billion in the corresponding period of 2016. Cost of sales rose from N2.757 billion to N3.139 billion, while gross profit stood

T H E MAIN BOARD

DEALS

MARKET PRICE

at N9.686 billion, showing an increase of 103 per cent from N4.761 billion in 2016. Selling, general and administrative expenses jumped by 205 per cent from N772 million to N2.362 billion, while distribution expenses rose from N108 million to N148 million. However, fair value of biological assets rose by 67 per cent from N658 million to N1.102 billion.

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

6 6 12

30.00 34.00

19 19 31

The company, therefore ended the H1 of2017with a PAT of N5.555 billion, up 84 per cent from N3.012 billion in the corresponding period of 2016. Gains on biological assets of N24.7 billion recorded in 2016, compared with N1.1 billion in 2015, had shot the PAT of the company from N2.5 billion to N21.7 billion. Hence, the directors recommended a

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

2.69

614,065

1,572,223.05

dividend of 150 kobo per share for 2016, up from 100 kobo in 2015. The Chairman of Presco Plc, Mr. Pierre Vandebeeck last month told shareholders of the company that for three years running there has been increasing challenges in the Nigerian business environment and the economy contracted in 2016 for the first time in

two decades. “In 2016, inflation rose to an 11-year high of 18.55 per cent in the last quarter of the year. There was no improvement in government revenue and monetary liquidity deteriorated. Forex availability worsened both in terms of scarcity and depreciation of the naira against major international currencies,” Vandebeeck said.

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

˾ FRIDAY, AUGUST 4, 2017

MARKET NEWS

AXA Mansard Declares N17.95bn Gross Premium, Margin Fall in Profit Ebere Nwoji AXA Mansard Insurance Plc, has announced N17.95 billion gross written premium for the half year (H1) ended June 30,2017. This represents 36 per cent rise from N13.22 billion gross written premium achieved by the company in the corresponding period in 2016. According to the company, net premium income for the period stood at N6.46 billion, showing 18 per cent growth from N5.48

billion in 2016 , while investment and other income showed slight growth from N4.125 billion in 2016 to N4.134 billion in 2017. Operating expenses for the period showed five per cent increase from N2.82 billion in 2016 to N2.96 billion. Profit before tax, however, showed five per cent slide, from N2.44 billion in 2016 to N2.32 billion in the period under review. Similarly, Profit After Tax, also showed six per cent decrease from N2.26 billion in 2016 to N2.12bn.

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

The AXA Mansard H1 year report, however, showed that the company’s total assets grew by 20 per cent to N65.81 billion from N54.96 billion as at December 2016, just as insurance liabilities went up by 78per cent from N14.43 billion to N25.71 billion as at December 2016. Shareholders’ funds also grew by six per cent from N17.4 billion in 2016 to N18.38 billion in 2017. Some of the performance

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 02-Aug-2017, unless otherwise stated.

ratio showed that operating expenses ratio improved from 22 per cent in 2016 to 18 per cent, while accounting loss ratio stood at 78 per cent, compared with 80 per cent in 2016. Commenting on the results, AXA Mansard Chef Financial Officer Mrs, Rashidat Adebsi said: “One of our key goals going into this year was to improve the efficiency of our reinsurance strategy as a way of managing the anticipated

growth in our portfolios. The improvement in our accounting loss ratio from 80 percent to 78 percent in 2017 validates our efforts in this regard.” Also commenting on the results, Chief Executive Officer of the company, Mr Kunle Ahmed said: “Our focus on identifying new growth areas in our markets continue to pay off as we grew revenues by 36 percent despite the challenging

operating environment. We also strengthened the bottomline through cost optimisation and efficient resource utilisation as demonstrated by the four per cent improvement in our operating expenses ratio”. AXA Mansard Insurance, is a member of the AXA Group ,a worldwide leader in insurance and asset management, with 166,000 employees serving 107 million clients in 64 countries.

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 175.28 175.61 37.87% Nigeria International Debt Fund 231.85 232.19 9.04% 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 0.80 0.81 14.38% 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 18.43% 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 17.24 17.76 39.65% ARM Discovery Fund 363.24 374.19 26.49% ARM Ethical Fund 25.95 26.73 16.13% ARM Money Market Fund 1.00 1.00 18.15% 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 142.77 141.92 34.86% AXA Mansard Money Market Fund 1.00 1.00 18.36% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 18.81% Paramount Equity Fund 11.34 11.63 21.15% Women's Investment Fund 93.53 95.92 10.56% 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 18.61% 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 1,104.27 1,105.37 9.05% FBN Heritage Fund 139.76 140.98 25.38% FBN Money Market Fund 100.00 100.00 18.12% FBN Nigeria Eurobond (USD) Fund - Institutional $109.31 $110.26 6.29% FBN Nigeria Eurobond (USD) Fund - Retail $108.61 $109.56 6.34% FBN Nigeria Smart Beta Equity Fund 155.07 157.24 37.69% 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 1.33 1.36 43.09% Legacy Short Maturity (NGN) Fund 2.81 2.81 9.47% 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 2,757.63 2,805.80 25.18% Coral Income Fund 2,305.53 2,305.53 9.56% 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 14.40% 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 18.31% Vantage Balanced Fund 2.06 2.09 22.70% Vantage Guaranteed Income Fund 1.00 1.00 18.50%

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 1.11 1.13 11.97% Lotus Halal Fixed Income Fund 1,028.21 1,028.21 7.00% 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 13.28 13.37 37.33% Meristem Money Market Fund 10.00 10.00 19.10% 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 1.14 1.16 15.18% PACAM Fixed Income Fund 10.70 10.76 2.90% PACAM Money Market Fund 10.00 10.00 15.30% 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 123.65 125.97 22.09% 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 1.34 1.34 7.60% 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 2,156.66 2,169.12 17.78% Stanbic IBTC Bond Fund 161.25 161.25 4.73% Stanbic IBTC Ethical Fund 0.98 1.00 28.57% Stanbic IBTC Guaranteed Investment Fund 204.76 204.76 9.56% Stanbic IBTC Iman Fund 174.73 177.15 34.64% Stanbic IBTC Money Market Fund 100.00 100.00 18.48% Stanbic IBTC Nigerian Equity Fund 9,489.16 9,597.99 25.12% 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 1.28 1.30 14.83% United Capital Bond Fund 1.37 1.37 12.26% United Capital Equity Fund 0.81 0.83 20.94% United Capital Money Market Fund 1.14 1.14 3.51% 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 12.33 12.54 27.08% Zenith Ethical Fund 13.04 13.20 19.17% Zenith Income Fund 18.41 18.41 11.35%

REITS NAV Per Share

Yield / T-Rtn

11.41 128.78

1.01% 3.88%

Bid Price

Offer Price

Yield / T-Rtn

10.81 104.56

10.91 106.54

25.25% 37.99%

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

4.44 8.54 17.03 21.79 131.64

4.48 8.62 17.13 21.99 133.64

60.36% 21.36% 42.46% 36.39% 2.11%

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.

T H I S D AY FRIDAY AUGUST 4, 2017

FRIDAY, AUGUST 4 2017 ˾ T H I S D AY

WORLD OF ISLAM INTERNATIONAL

email:foreigndesk@thisdaylive.com

Edited by: MJO Mustapha Email deji.mustapha@thisdaylive.com

Preparations Before Leaving for Hajj –1 IslamiCity

ajj is one of the five pillars of Islam. All Muslims who fulfill certain conditions must perform Hajj at least once in their lifetime. What are these conditions? Are there any prerequisites of Hajj? The answers to these and many other similar questions can help you in making decisions, and in planning for Hajj in a better and more efficient fashion.

Who Must Perform Hajj Every Muslim who fulfills the following conditions must perform Hajj at least once in his lifetime: 1. He must be of sound mind, and in full control of his mental faculties. 2. He must be old enough, and mature enough to understand the full import, and significance of what he is setting out to do. 3. He must be financially sound enough to be able not only to bear all of his expenses for Hajj but also to provide adequately for his dependents during his absence and until his return.

Prerequisites of Hajj Since Hajj is an act of worship, it must be performed in peace, and with single minded devotion. There are a number of simple, yet important, things you can do to get in the right frame of mind for this unique experience. All of these are self-evident and are based on common sense. They are reiterated below for completeness of the discussion and as a reminder: 1. Your intention must be to perform Hajj solely for the sake of Allah. Considerations of pleasing or impressing others with your show of piety should never be a factor. 2. All Hajj expenses must be paid out of money obtained through legitimate (Halal) means. Money obtained through illegitimate or doubtful means is not acceptable. 3. All of your debts and financial obligations must be fully discharged before you start your journey and, where necessary, a written acknowledgement of the transaction obtained for future use. 4. You must make an honest effort to resolve your outstanding differences with others and seek forgiveness from those you may have hurt in any way in the past. This is based on specific instructions of Prophet Muhammad (pbuh) and must be followed for the Hajj to be meaningful.

Preparations for Hajj Since Hajj is a once-in-a-lifetime experience for most people, the importance of early and adequate preparation cannot be over-emphasized. There is a considerable investment of money, time, and physical effort required for the Pilgrimage to be fulfilling and meaningful. Information has to be collected, itineraries must be worked out, and documents have to be readied. The purpose of these preparations is not only to minimize physical discomfort, emotional aggravation and monetary expenses, but also to enable you to perform Hajj in relative peace of heart and mind. Therefore, it makes sense to be as ready as possible for this momentous journey of self-discovery, self-appraisal, and spiritual enlightenment. Arrangements must be started early enough so that you are not rushed for time in the few days before your voyage commences. The paperwork, shopping, finalizing your travel and residential arrangements inside Saudi Arabia etc., consume a great deal of time. Three to four months ahead of your actual date of departure is a good estimate for starting your preparations. Your travel agent, or a knowledgeable friend who has performed Hajj recently, can also guide you in your preparations. Be sure to apply a “factor of safety” to their recommendations and allow yourself a somewhat greater period of preparation than they advise! The following guidelines are intended to get you started in the right direction. Since individual needs and preferences vary widely you will, in all probability, add to the list as you prepare for the journey:

Travel Agent Choose a travel agent who offers a wide selection of “packages” for Hajj. There are a large number of travel agencies all over the country that offer Hajj services, and not all of their products are of equal quality and value. Choosing the right agent is of crucial importance. Hopefully, a representative of your travel agent will be your constant guide and trouble shooter during Hajj. Invest time and effort in this essential phase of your preparation. Talk to friends and acquaintances who may have recently used the services of various companies and ask them for recommendations. The quality of service and commitment to the comfort and well-being of the pilgrims vary significantly among travel agents. Whereas a good and responsible agent can “make” your Hajj, a bad one can just as easily “break” it. Be sure to ask the travel agent specific questions and have him give you specific answers: 1. What will be the duration of your stay in Mecca and Medina? What dates? Is the program flexible or will it allow no

changes once it is made? Is there any additional cost to such changes? If so, what is it? 2. How far away will you be staying from Haram ash Shareef, both in Mecca and in Medina? If your place of residence is not within easy walking distance (10-15 minutes), what type of transportation to and from Haram ash Shareef will be made available? How often during the day will it be available? 3. Will a representative of the travel agent who is fully conversant with the rites of Hajj, and Saudi rules and procedures for customs, immigration, and travel be with you at all times? Will he stay in Saudi Arabia for the duration of your visit? You do not want to be left in Saudi Arabia without adequate guidance and assistance. The laws and procedures there can be very difficult, frustrating, and time-consuming. 4. Will the representative of the agent be conversant with the Arabic language? If not, will an interpreter be provided in Saudi Arabia? Most Saudi authorities do not speak English, and your command of Arabic is likely to be limited. 5. Will you have the option of travelling within Saudi Arabia, (for example from Mecca to Medina), in a taxi hired by you at your own expense instead of the prepaid bus provided by your muallim? How about possible return by air from Medina to Jeddah on your way out of the country instead of the usual prepaid bus? Get a good idea of this additional expense. You may want to use the above options in view of the fact that the bus journeys during Hajj season can be nerve-racking. For example, a bus journey from Mecca to Medina (approximately 400 km or 250 miles) can take as long as twenty to thirty hours, whereas a taxi will cover the same distance in three to four hours. The small additional cost you will incur is well worth the money in terms of time saved and physical discomfort avoided. If you choose to use any of the alternate travel options (and it is highly recommend that you give them very serious consideration), be sure to redeem your unused bus coupons at Jeddah airport on your way out. Your travel agent should be able to help you in this. 1. What kind of arrangements will be made for your stay in Mina and Arafat? How about the food arrangements in Mina, Arafat, and Muzdalifah? 2. Does the price of your package include meals? See if the agents make an effort to vary the menu. You may have to supplement your meals with milk, fruits etc. Food supplied by the agents tends to be monotonous, and the lack of variety is likely to kill your appetite after a couple of days! 3. Will the agent arrange for a sacrifice on your behalf on the 10th of Zul Hijjah? This is a common service agents often provide for a small fee. They will inform you of the time of the sacrifice so that you may perform other rites accordingly.

Vaccinations You will need certain vaccinations for the issuance of a Hajj visa. The World Health Organization (WHO) issues annual guidelines and requirements concerning vaccinations for travel to various countries including Saudi Arabia. Your physician will have the necessary information or will be able to access it readily. Check either with your travel agent or the Saudi Arabian Embassy for additional requirements. The Saudi Government requirements are usually stricter than the WHO recommendations. For instance, whereas the WHO recommended immunization against only meningococcal meningitis for travel to Saudi Arabia in 1997, the Saudi authorities required immunization against cholera also. Your doctor may recommend additional vaccinations in the light of his knowledge and experience. The writer’s doctor (a specialist in infectious diseases) recommended and administered immunization against typhoid fever, polio, pneumonia, diphtheria/ tetanus (D/T) and malaria. This may sound like “over-kill” and it probably is in most cases. However, it can also save you a lot of worry and misery in those unfortunate instances where extra care is needed. To cite an example : in 1997 there was an outbreak of typhoid in India and some of the pilgrims in the writer’s group, who travelled to India after Hajj, became seriously ill with the illness while there. It is possible that they contracted the disease from carriers among the Indian pilgrims in Saudi Arabia, or they may have contracted the disease in India itself. In any case, earlier vaccination against the disease would have saved them from much suffering and anxiety. Had they contracted typhoid in Saudi Arabia itself from the Indian pilgrims, they would have had serious problems completing their Hajj. Be sure to obtain an official Vaccination Record Book (the “Yellow Book”) from your County or State Health Department. Have your physician fill it out, sign it, and stamp it. Anything less may be unacceptable to the Saudi visa authorities, and you don’t want your visa application rejected for a small detail like this. Keep the vaccination record book with your other important documents and take it with you to Saudi Arabia. You never know when you may need it.

Shinzo Abe May Be Open to ‘Political Adventure’ of North Korea Visit Speculation is rising in Japan that Prime Minister Shinzo Abe may visit North Korea in September, following an interview during which he expressed interest in undertaking the “political adventure of a lifetime.” Abe, 62, is dealing with a rapid decline in his popularity in recent months, owing to a number of school-related scandals involving a friend

and a grant of governmentowned land. During a meeting with well-known local journalist Soichiro Tahara on Friday, Abe said he ought to take on a “political adventure,” according to Japanese press reports. Political pundits have taken the statement to mean Abe would be willing to travel to Pyongyang and meet with

North Korean leader Kim Jong Un, who has been widely condemned for carrying on with missile provocations. Japanese television networks have also been adding to speculation Abe is not ruling out face-to-face talks with the North Korean leadership. On Thursday, Abe reshuffled his cabinet in response to his decline in the polls and a 20 percent approval rating.

Brazil’s Temer Defeats Corruption Rap, Pushes Reforms Brazilian President Michel Temer hoped Thursday to turn a surprisingly easy victory in blocking his corruption trial into momentum for austerity reforms, but more turmoil could await the unpopular leader. Temer needed a third of the lower house of Congress’ sup-

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I, formerly known and addressed as DANIEL HENRY, now wish to be known and addressed as EDURUKE HENRY EJIRO. All former documents remain valid. The general public should take note. I, formerly known and addressed as ASUNI BASIRAT OLUWAKEMI, now wish to be known and addressed as TIJANI-ASUNI BASIRAT OLUWAKEMI. All former documents remain valid. The general public should take note. I, formerly known and addressed as ABDULLAHI ISHIAKA, now wish to be known and addressed as ABDULLAHI ISHAQ ADAMU. All former documents remain valid. The general public should take note. I, formerly known and addressed as AMBALI WASIU AYINLA, now wish to be known and addressed as SULAIMON WASIU ABIODUN. All former documents remain valid. The general public should take note. I formerly known and addressed as MISS OKORIE BLESSING NNENWOGO now wish to be known and addressed as MRS NWAGU BLESSING NNENWOGO. All former documents remain valid,NYSC and the general public should please note. I,formerly known and addressed as NYONG VICTORIA JOSEPH and now I wish to be addressed as NYONG VICTORIA AFFIONG. All former documents remain valid. The general Public please take note. CORRECTION OF NAME dŚŝƐ ŝƐ ƚŽ ĐŽŶĮƌŵ ƚŚĂƚ EGWAKIHIDA DORIS ROSELINE instead of EGWAIKIHIDE DORIS ROSELINE . The correct spelling is EGWAIKIHIDE DORIS ROSELINE. All former documents remain valid. The general public should please take note. CONFIRMATION OF NAME

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port to avoid being suspended from office and put on trial in the Supreme Court. After hours of angry, often raucous debates he got 263 votes -- more than half of the chamber. Another 21 deputies were either absent or abstained, deepening the defeat for anti-corruption prosecutors. Accused of agreeing to take millions of dollars in bribes, Temer was the first Brazilian president to face a criminal charge while in office. Revelations from the “Car Wash” anti-graft operation -- which has recently targeted Temer, eight of his ministers, a

CHANGE OF NAME

I formerly known and addressed as OBODOECHIMA CHINEDU VICTOR, now wish to be known and addressed as OBODOECHIMA CHINEDU RAPHAEL. All former documents remain valid. The general public should take note. I formerly known and addressed as MISS EKWUNIFE AMAKA STEPHANIE, now wish to be known and addressed as MRS ILOH AMAKA STEPHANIE. All former documents remain valid. The general public should take note. I, formerly known and addressed as OSAMMOR SOPHIE CHUKWUGOZIEM, now wish to be known and addressed as AGUELE SOPHIE CHUKWUGOZIEM. All former documents remain valid. The general public should take note. I, formerly known and addressed as LAWRENCIA JOHN SANKE, now wish to be known and addressed as LAWRENCIA JEOFFREY DYAWAI. All former documents remain valid. The general public should take note. I, formerly known and addressed as MISS ADIA VICTORY AISABOSE, now wish to be known and addressed as MRS EKIENABOR VICTORY AISABOSE. All former documents remain valid. The general public should take note. I, formerly known and addressed as MISS IBEJIAKO SILVER CHINWENDU, now wish to be known and addressed as MISS OBIOHA SILVER CHINWENDU. All former documents remain valid. The general public should take note. I, formerly known and addressed as EBUKA FRANK FRIDAY, now wish to be known and addressed as EBUKA FRIDAY. All former documents remain valid. The general public should take note.

third of lower house lawmakers and many other senior politicians -- have prompted disgust among Brazilians. But Temer portrayed the “clear, indisputable” rejection of his trial as amounting to a fresh mandate. Ever since coming to power a year ago following the impeachment of leftist president Dilma Rousseff, the center-right Temer has pursued austerity reforms which he says will revive Brazil after two years of deep recession. The reforms are opposed by many ordinary Brazilians, but welcomed by the business community, which has seen Brazil fall from emerging market poster child to regional basket case. Now Temer says he has new wind in his sails.

CHANGE OF NAME I, formerly known and addressed as MISS TUEDOR STELLA OGHENERO, now wish to be known and addressed as MRS OKAFOR OGHENERO STELLA FAVOUR. All former documents remain valid. The general public should take note. I, formerly known and addressed as MISS ISHOLA ZAINAB ABIMBOLA, now wish to be known and addressed as MRS ADENIJI ZAINAB ABIMBOLA. All former documents remain valid. The general public should take note. I, formerly known and addressed as OBIORA EMMANUELIA MAUREEN, now wish to be known and addressed as ONYIBE EMMANUELIA MAUREEN. All former documents remain valid. The general public should take note. I, formerly known and addressed as OLUWAFUNMILAYO OGUNDOKUN, now wish to be known and addressed as OLUWAFUNMILAYO OLOKUNOLA. All former documents remain valid. The general public should take note. I, formerly known and addressed as MOSES BENJAMIN, now wish to be known and addressed as MOSES EFE BENJAMIN. All former documents remain valid. The general public should take note. I, formerly known and addressed as LENDA BABA BET-SO and LINDA BABA BUBA, now wish to be known and addressed as LINDA PUWU. All former documents remain valid. The general public should take note.

T H I S D AY FRIDAY AUGUST 4, 2017

˾ FRIDAY, AUGUST 4, 2017

PAGE FORTY-NINE

EFCC, AMCON to Reopen Cases of Insider Abuse in Banks Obinna Chima As part of efforts to recover the over N4.6 trillion owed the Asset Management Corporation of Nigeria (AMCON) by recalcitrant debtors across the country, the corporation yesterday held a meeting with the Economic and Financial Crimes Commission (EFCC) in Abuja and agreed that cases of insider abuses by banks executive would be reopened for prosecution. Subsequently, both institutions are reviewing details of some banks and their officials that were instrumental to the abuse and violation of internal processes that led to the huge non-performing loans in AMCON’s portfolio. According to a statement by AMCON’s Head of Corporate Communications, Jude Nwauzor, the meeting was held to enable both agencies

to consolidate on the gains of their relationship especially in the areas of investigating, prosecuting and compelling all obligors of AMCON in accordance with the relevant statutes. It said AMCON Managing Director/Chief Executive Officer, Mr. Ahmed Kuru; and EFCC’s Acting Chairman, Mr. Ibrahim Mustafa Magu; attended the meeting. Condemning the impunity with which those transactions were done, the EFCC boss affirmed that some of the obligors purportedly took the loans without the intention of paying back, saying they did not envisage that someday an agency like AMCON would come knocking on their doors seeking to recover the loans. According to him, given the similarity in the objectives of both agencies, there was a need for joint training towards fostering better understanding between

AMCON and the EFCC. While reaffirming the commitment of the EFCC to cooperate and provide the much needed support to AMCON, Magu urged AMCON to ensure justice was done in all cases because most of the obligors might not have acted alone in their unwillingness to repay, but might involve the connivance of some of the bank officials whose motive was to cheat the banks ab-initio. He said: “In appropriate circumstances, these bankers would also be called upon to account for their roles in granting these questionable facilities.” The EFCC acting chairman, who welcomed the AMCON boss and his team, described the assignments of both agencies of government as very tough, overwhelming and challenging. He, however, added that he was happy that AMCON

under Kuru was doing everything within its mandate to confront the obligors with all the risks involved in the process of doing so. He said it was for that reason that EFCC established AMCON Desk with dedicated EFCC officials that ensured that all AMCON related cases in EFCC received speedy attention. Magu assured Kuru that the AMCON Desk at EFCC would continue to be functional, adding that the EFCC was willing to increase the number of personnel on the desk if so required and would be willing to establish a Lagos branch if necessary to make sure the huge loans were recovered in the interest of the Nigerian economy. Kuru thanked Magu for receiving the AMCON delegation, expressing appreciation for the anti-graft boss’ passion and cooperation in the collaboration with

AMCON towards recovering the enormous bad debts from recalcitrant obligors. While appreciating the immense contribution of the AMCON Desk at the EFCC, Kuru who thanked the Acting Chairman for creating that unit that had led to several recoveries, added that AMCON was willing to provide the required support to the AMCON Desk at EFCC by providing information, logistics and training to the team to enable them carry out their assignment without hitches. Recounting AMCON’s role in the economy especially in the banking sector, he also stated that since its establishment, AMCON acquired debts from 22 banks worth N3.7 trillion and provided financial accommodation to 10 banks of about N2.2 trillion. He observed that despite AMCON’s recovery

efforts, the Corporation still holds unresolved loans in excess of N4.6trillion which represents about 75% of the total national budget. The MD expressed concern that failure on the part of AMCON to resolve the debts will have far reaching implications for the nation at large. The AMCON boss who stated that the EFCC and AMCON have similar mandates of ensuring economic stability, which provides another reason for AMCON to collaborate with EFCC and take advantage of the enormous powers of the EFCC; also highlighted some of the challenges militating against AMCON's recovery efforts to include the slow judicial process, concealment of assets by the obligors, forged documents, and in some instances, collusion between the bankers and the obligors among others.

NOIPolls: 88% of Nigerian Doctors Seek Job Opportunities Abroad 2,500 set to leave within one month Ndubuisi Francis in Abuja A hostile working environment, poor reward system, the dearth of needed equipment and huge funding gaps, among others, are pushing Nigerian doctors out of the country in search of jobs abroad. A new survey conducted by Nigerian polling organisation, NOIPolls, in partnership with Nigeria Health Watch, has revealed that about eight out of every 10 (88 per cent) of medical doctors in Nigeria are currently seeking work opportunities abroad. The survey report was unveiled in Abuja yesterday by the Chief Executive Officer of NOIPolls, Dr. Bell Ihua. The findings cut across junior, mid and senior level doctors in both public and private medical institutions such as house officers, corps members, medical and senior

medical officers, residents, registrars, consultants and medical directors. The United Kingdom and the United States of America are the top destinations where Nigerian medical doctors seek work opportunities, according to the survey. Consequently, many Nigerian doctors are currently registered to write foreign medical exams such as PLAB for the UK (30 per cent), USMLE for the United States (30 per cent), MCCE for Canada (15 per cent), AMC for Australia (15 per cent) and DHA for Dubai (10 per cent), among others. In fact, an official of the National Association of Resident Doctors (NARD), Dr. Abimbola Olajide, revealed that facts at the disposal of his association show that no fewer than 2,500 doctors were due to leave the country in

the next one month, in search of greener pasture. Further findings from the NOIPolls survey revealed that the reasons for the looming brain drain in the health sector included challenges such as high taxes and deductions from salary (98 per cent), low work satisfaction (92 per cent), poor salaries and emoluments (91 per cent) and the huge knowledge gap that exists in the medical practice abroad (47 per cent), among others. The report said: "These were some of the key findings from the survey and we hope these findings would help stimulate conversations amongst stakeholders in the country’s health sector and trigger the much-needed reforms to redesign of a health system that is responsive to the healthcare needs of the nation. "This survey also seeks to

sound an alarm of a looming brain drain in the country’s health sector if nothing is done urgently to curb this rising trend of emigration of healthcare practitioners – physicians, nurses, pharmacist, and laboratory scientists amongst others," the report said. Various stakeholders, who spoke at the unveiling of the report said the government at federal and state levels needed to urgently address what had become a national emergency and embarrassment. Nigeria has about 72,000 medical doctors registered with the Medical and Dental Council of Nigeria, with only approximately 35,000 practising in Nigeria. The emigration of the Nigerian healthcare workforce, particularly medical doctors has been a lingering problem in the country.

Health Minister, Prof. Isaac Adewole

NNPC, IOCS SIGN $1.78BN ALTERNATIVE FINANCING AGREEMENTS FOR JV PROJECTS Managing Director of CNL, Mr. Jeffrey Ewing. According to the NNPC, the agreement with Chevron would see to the development of the NNPC/CNL JV Sonam Project (Project Falcon), hitherto financed through cash calls, to incremental proven and probable oil/ liquids reserves of 211 million barrels, as well as, proven and probable gas reserves of 1.9 trillion cubic feet within in Oil Mining Licences (OMLs) 90 and 91. The project, it added, was expected to begin to bear fruits in the next three to six months. Baru, according to the NNPC statement, said the project was envisaged to achieve an incremental peak production of about 39,000 barrels per day of liquids and 283 million standard cubic feet of gas per day

(mmscf/d) respectively over the life cycle of the asset. He added that the JV partners had already expended $1.5 billion representing 97 per cent of project completion costs and that the agreement would cover the remaining $780 million to complete the project’s scope. Providing a breakdown of the expected funding requirements of the Sonam Project, Baru said $400 million would be used to fund the development of seven wells in the Sonam field (OML 91); the Okan 30E Non-Associated Gas (NAG) well (OML 90); and associated facilities including completion of Sonam NAG Well Platform. He further explained that $380 million would be required to reimburse the JV partners for the 2016 portion of the funds

committed to lenders that had been cashed and paid for. According to him, the Sonam project alone, on fruition, would net the federal government cumulative incremental earnings of $7.3 billion over its life cycle. He also said it would be carried out in two phases, with the first phase focused on short term activities involving Oil and Gas Generation (STOGG) programme comprising 128 rigless activities and 10 workovers, while the second phase would focus on medium term activities that would involve further development of EA/EJA fields by drilling 14 new wells and three workover ones. On the other hand, he said the agreement with SPDC would facilitate the

development of the NNPC/ SPDC JV Project Santolina, which comprised of 156 development activities across 12 OMLs (OMLs 11, 17, 23, 25, 27, 28, 32, 35, 43, 45, 46 and 79) and 30 different fields in the Niger Delta. Baru stated that the first phase of the project was estimated to deliver incremental liquid reserves of about 202.9 million barrels of oil and 161.8 billion cubic feet on proven and probable (2P) basis. He put the total thirdparty financing for Project Santolina at $1 billion, inclusive of financing cost of which, he said, co-lending amounted to $420 million with the NNPC’s portion being $850 million. Project Santolina, he added would generate about $9 billion of incremental revenue to

the government over its life cycle and a Net Profit Value (NPV) of $5.2 billion over the loan life at eight per cent discount rate. Baru explained that NNPC’s objectives in securing third-party financing for the two sets of projects aligned with the government’s aspiration to increase reserves and crude oil and gas production as well as monetise the nation’s enormous gas resources. He emphasised that the financing option underscored the realisation of one of NNPC’s 12 Business Focus Areas (BUFAs) which is to increase crude oil and gas reserves and production to support government’s 'Seven Big Wins' aspiration. The statement quoted Brown, to have stated in his presentation that

the alternative funding arrangement was an innovative financing plan that would enable SPDC to commence exploration activities hitherto stalled due to funding challenges. Also, Ewing said in the statement that Chevron Nigeria Limited was committed to supporting Nigeria’s aspirations of sustaining oil and gas production through innovative strategies as typified by the alternative financing arrangements over which the agreement was executed. It noted that Nigerian banks comprising Access Bank; Standard Chartered Bank; Union Bank; and United Bank for Africa (UBA) and some foreign financial institutions, were part of the consortium of banks involved in the project.

T H I S D AY FRIDAY AUGUST 4, 2017

FRIDAY, AUGUST 4, 2017Ëž T H I S D AY

NEWS

Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081

Our Quit Notice to Igbos Stands, Say Arewa Youths Aisha Buhari, Igbo women say Nigeriaâ€™s unity sacrosanct

Ibrahim Shuaibu Ă“Ă˜ Ă‹Ă˜Ă™ Ă‹Ă˜ĂŽ Amby Uneze Ă“Ă˜ ĂĄĂ?ĂœĂœĂ“ Despite the intervention of Northern State Governorsâ€™ Forum and some notable leaders from the Southeast, the Arewa Youths Consultative Forum (AYCF) yesterday restated its position on the quit notice given to Igbos residing in the North.Â The Chairman of the forum, Mr. Shettima Yerima, told journalists in Kano during a North-west consultative forum organised by the Coalition of Northern Groups. Yerima said: â€œWe stand by our notice to the Igbos, but those who are interested in Nigeria can stay, those who are not interested can go. Â â€œOur mission is for peace because the unity of Nigeria is being threatened by the current agitation from some Igbos, and we want to make sure that those who are interested in Nigeria should stay, but those who are not interested should go. â€œThe purpose of the town hall meeting in Kano is to review the earlier stand we took and we are collecting views of the people from the North-west region. We will also move to the North central and North-east on whether to maintain our position or reconsider it.â€? According to him, Because we donâ€™t have the right to force the people to go, we are using peaceful means. We donâ€™t have police and army.â€? When asked whether the Kano town hall meeting would give an insight on their mission, Yerima stated: â€œWe cannot summarise our position until we consult other zones.â€? In his address at the meeting, the Chairman of Coalition of Northern Groups, Mr. Nastura Ashir Sheriff, said the northern youths had written to United Nations on their mission for

a united Nigeria and copied all evidence of the Indigenous People of Biafra (IPOB) leader atrocities. Sheriff emphasised that the coalition of northern groups embarked on awareness to get the peopleâ€™s position. â€œThe attitude of IPOB leader is worrisome because the future of the nation is at the brink. He has created serious disaffection for northerners,â€? he added. In his goodwill message, a university lecturer, Professor Aliyu Jibia, announced plan by his Arewa Sumit Development Initiative to organise a one-million-man march by October 1 to draw attention to the multifaceted challenges bedeviling the region.Â The delegate conference is expected to attract patriotic northerner to the march which would be held in Kano. Meanwhile, against the backdrop of agitation for the disintegration of the country by some secessionist groups, the First Lady, Mrs. Aisha Buhari, and some Igbo women yesterday in Owerri, the Imo State capital, said the unity of the country was sacrosanct and cannot be separated for whatever reason. This is even as the state Governor, Chief Rochas Okorocha, affirmed that even though Nigeria was currently going through trying moment, such difficult times would soon end. He however, disassociated Imo State from such agitation, stressing: â€œImo State is wholly committed to the unity of Nigeria. Those talking about secession are on their own.â€? The women resolved to mobilise themselves to preach against hate and tribal speeches and promote unity of the country. Speaking at the 2017 Imo woman annual August meeting organised by

Buhari Calls Aregbesola, Condoles with Governor over Motherâ€™s Death Omololu Ogunmade Ă“Ă˜ Abuja President Muhammadu Buhari yesterday called the Governor of Osun State, Rauf Aregbesola, and commiserated with him over the passage of his mother, Saratu Aregbesola. According to a statement by his Special Adviser, Media and Publicity, Mr. Femi Adesina, Buhari who is currently receiving treatment in London, expressed sympathy with the governor, describing his mother â€œas a great woman who was a pillar of discipline to her children.â€™â€™ Adesina also said the President noted that

Aregbesolaâ€™s family deserved great honour for â€œthe sacrifices she made to bring up her children on the path of sound moral character and commitment to good reputation.â€™â€™ He added: â€œPresident Buhari said the governorâ€™s mother contributed immeasurably to the building of a respectable pedigree for her family by raising disciplined and humble children like Aregbesola. â€œHe prayed that Allah would bless her soul and reward all her good deeds with paradise, and also comfort the family she left behind.â€?

wife of the state governor, Nneoma Nkechi Okorocha, with the theme: â€˜Women: Building Bridge of Friendship Across the Nigerâ€™, Mrs. Buhari charged women to assiduously work together towards conflict resolution andÂ be at the vanguard of championing peaceful coexistence in various communities of the country. She said: â€œThis gathering is a celebration of the resourcefulness of womanhood. It is important because at meetings like this, Igbo women gather to discuss developmental issues and peaceful coexistence at the community level. The first lady who retuned from London yesterday where she had been with

her ailing husband, President Muhammadu Buhari, said her pet project, â€˜Future Assuredâ€™, would continue to preach societal peace and support the welfare of less privileged women and children. She noted that the zeal to create a forum for women to come together to discuss peaceful co-existence is highly commendable, adding that the annual â€˜August Meetingâ€™ affords women in the Southeast the opportunity to come together and deliberate on how to work for the unity of the nation. She commended Governor Okorocha for giving women a sense of belonging in his administration, which she said was responsible for the visible roles of the women in

nation building. Okorochaâ€™s wife, Nkechi, who is also the Chairman of the Southern Governorsâ€™ Wives Forum, disclosed that the idea of the South-east women to hold a combined August meeting as a platform to address national issues as it affect women in the zone started with last yearâ€™s edition. Emphasising on the need for friendship, the governorâ€™s wife described it as the gateway to tolerance, love, unity and peaceful coexistence, adding that Southeast women will continue to work for the unity of the nation. Governor Okorocha, while expressing happiness for the visit of the first lady, also

prayed for the quick recovery of President Muhammadu Buhari, noting that the unity of the nation must stand as those fanning the embers of disunity and threatening the sovereignty of the country were on their own. The meeting had in attendance the Chairman of the Nigerian Governors Forum and Governor of Zamfara State, Abdulaziz Yari; the spouse of the Senate President, Toyin Saraki, as well as wives of the governors of Edo, Cross River, Oyo, Ondo, Borno, Sokoto, Ebonyi, Abia, Enugu, Ogun, Kebbi and Kwarra States. Others were former Minister of Women Affairs, Mrs. Josephine Anenih.

WARM WELCOME

L-R: Imo State Governor, Mr. Rochas Okorocha, his wife, Nneoma and First Lady, Hajia Aisha Muhammadu Buhari, at the state annual meeting at the Heros Square in Owerri....yesterday

Constitution Review: Presidential Assent Unnecessary, Says Saraki The Senate President, Dr. Bukola Saraki, has said presidential assent is an unnecessary addition to the process of amendment of the constitution. He told the News Agency of Nigeria (NAN) in Abuja that it was with conviction on that that the eighth National Assembly approved the removal of presidential assent to an amended constitution. The seventh assembly had in 2015, while reviewing the 1999 Constitution, approved the removal of presidential assent from the process of the amendment. But, the then president, Dr Goodluck Jonathan, refused assent to the amendment because of the removal of the clause contained in Section 9 of

the 1999 Constitution. Jonathan had insisted that the amendment would have been valid if supported by votes of not less than four-fifth majority of all the members of each chamber of the National Assembly. In addition, he said that it also ought to have been approved by a resolution of the House of Assembly of not less than two-thirds of all the states as provided by Section 9 (3) of the 1999 Constitution. However, Saraki said going by the process of amending the Constitution, the final decision of federal and state legislatures should be seen as the decision of the people. â€œWell, to me, if two-thirds of the National Assembly agrees to something and

two-thirds of the state assemblies also agree, in my view, the president should accept that as the wish of the people. â€œDoes he really need to assent? Personally, I donâ€™t think so; that is my personal view, because with two-third of National Assembly, two-third of statesâ€™ assemblies, the people have spoken,â€? he said. Saraki added that the senate would follow up on the amendment process in the states to ensure that there was wide consultation and sensitisation. Saraki said the eighth Senate surmounted the turbulence that characterised its affairs due to cooperation and unity among the members.

He recalled that the crisis in the red chamber began immediately after its inauguration, with his emergence as president of the senate, and Ike Ekweremadu, a Peoples Democratic Party (PDP) member, as his deputy. He said in spite of the crisis, the senate had recorded unprecedented success. He added that though president, he was only â€œfirst among equalsâ€™â€™ and as such, he ensured that every member of the chamber was carried along in all the plans of the senate. He said in spite of the distractions from court cases and wanton allegations, the senate ensured that it remained focused on the agenda it drafted and prepared for itself.

FRIDAY, AUGUST 4, 2017˾ T H I S D AY

NEWSXRA

PANDEF, Osinbajo Meet on Niger Delta Clark says group satisfied with resolutions Omololu Ogunmade ÓØ ÌßÔË Forty-eight hours after the Pan-Niger Delta Elders Forum (PANDEF) gave the federal government an ultimatum to implement its 16-point demand for the region or lose its co-operation, acting President Yemi Osinbajo last night met with the group behind closed-door in the Presidential Villa, Abuja and resolved to henceforth, work together. The meeting which started at about 7p.m. was attended by notable Niger Delta leaders and traditional rulers including Chief Edwin Clark, former governor of Akwa Ibom State, Obong Victor Attah, former Minister of Transport, Alabo Graham-Douglas, His Royal Majesty, King Alfred Diette-Spiff, former Chairman of Niger Delta Development Commission (NDDC), Senator Bassey Ewa Henshaw, his successor, Senator Victor Ndoma-Egba, former Managing Director of NDDC, Chief Timi Alaibe and Chief Tony Uranta, among others. Answering questions from journalists after the meeting, Clark said the group was satisfied with the outcome of the meeting. He praised the acting president, describing him as forthright, truthful and sincere adding that

they had all resolved to work together including the militants who had earlier threatened to resume unrest on September 30. He withdrew the ultimatum the group issued the federal government on some of the contentious issues. “The meeting was excellent. We met with Mr. Acting President. He was very forthright, truthful. We were very satisfied. There is no ultimatum. We agreed on many things and we came in with our own address, presented it; the ministers presented their cases. Mr. Acting President rounded it off and we saw in him the genuineness, truthfulness and forthrightness. He’s a gentleman and we support him. We are satisfied. We did not use the word ultimatum. We only.said we would withdraw. But we have agreed to work together. “The message is that we had the opportunity to meet the acting president and we discussed various things - our 16-point agenda and the government’s 20-point agenda and we are all satisfied. The message is that everybody should maintain peace. “We have agreed to work together. MEND is here. MEND was in the meeting. Jomo Gbomo does not exist as a human being. That’s a ghost name. MEND was here. Other organisations were

here. I’m the leader of Niger Delta and every leader you can think of from Cross River to Edo State were here,” Clark said. Also speaking on behalf of the government, the Minister of State for Petroleum, Dr. Ibe Kachikwu, described the meeting as a collaborative efforts towards finding a lasting solution to the crisis plaguing the Niger Delta region. He said the meeting explored issues bordering on the development of the Niger Delta, pointing out that the atmosphere was peaceful and friendly. “The meeting was a collaborative effort to find solution to Niger Delta issues. The acting president was visited by PANDEF led by Clark. The meeting explored how far we had gone with the fulfilment of our undertakings on the 16-point agenda. “Several issues were discussed issues relating to the development of Niger Delta generally, issues relating to amnesty programme and how well it is working. Issues relating to NDDC operations generally. It was exhaustive. We

Withdraws ultimatum to FG

looked at the 16-point agenda... Today was an environment of peace, calmness, friendliness and mutual dialoguing on issues, to understand where we are coming from,” the minister said. The meeting was meant to strike a deal between the federal government and the agitating people of Niger Delta over the region’s development. The height of its success was conveyed in tweet last night by the media aide to the acting president, Mr. Laolu Akande, that PANDEF had joined the inter-ministerial group of the federal government with a view to actively working with the government on Niger Delta development. PANDEF’s ultimatum on Monday was followed by that of Niger Delta militants who had threatened to resume the destruction of oil installations from September 30, following the perceived failure of the government to fulfill its promise to implement a developmental agenda in the region. PANDEF had on its path, threatened to pull out of further co-operation with the federal

government if it failed to reach a consensus with it on the 16-point demand it submitted to President Muhammadu Buhari in November, last year. Ahead of the meeting, there had also been rumblings in the Niger Delta as militants withdrew their collaboration with PANDEF led by Clarke. The militants had in a statement by their spokesman, Jomo Gbomo, said PANDEF lacked the moral right to issue an ultimatum to the government. While discrediting PANDEF, Gbomo, the spokesman for Movement for the Emancipation of Niger Delta (MEND), said: “In view of our irreconcilable differences, MEND hereby recalls its representatives in PANDEF for consultation with immediate effect. “PANDEF, led by elder statesmen, Clark and King Diette -Spiff, lacks the moral justification in giving an ultimatum to the federal government and making demands they never made from Goodluck Jonathan when he was at the helm for six wasted years. “Instead of listening to the so-

called Niger Delta activists and the compromised Ijaw Youth Council (IYC), who have miraculously regained the voices they lost when Jonathan was President, and instead of issuing threats through fake internet-based militant groups, PANDEF ought to have used the forum and opportunity to commend the federal government for exposing the monumental looting of our commonwealth by some sons and daughters of the soil, starting from the former President, his wife Patience, cousins, relatives and cronies and so many other traitors; down to the mind boggling theft by Diezani Allison-Madueke, who empowered others while her people lived in squalor and abject poverty. “PANDEF is also pretending not to notice that the Amnesty Programme is still operating on the corrupt template that still pays ghost militants after it hoodwinked the government into believing in the fraud. A program that has neglected the children of the dead freedom fighters

Cont’d on Pg 53

Seek Your Relevance Elsewhere, Army Warns Fayose The Nigerian Army has advised the Ekiti State Governor, Ayodele Fayose, to seek relevance elsewhere. The army, according to The Cable, said this in response to an allegation which Fayose levelled against it. On Wednesday, Fayose accused the military of taking advantage of the anti-insurgency war to create “fake defence contracts” for personal interest. Fayose is a fierce critic of the government of President Muhammadu Buhari, also called for a periodic change in the military, saying that without the reshuffle of officers, they would become “institutions to themselves”. “As revealed by Transparency International, fight against Boko

Haram has become a cash cow for some top military officers and corrupt politicians in the Buhari’s government, with the creation of fake defence contracts and laundering the proceeds often laundered abroad in the UK, US and elsewhere,” Fayose had said in a statement. His accusations came two days after he said the war against Boko Haram is far from over. But in a tweet yesterday, the army denied the allegations and warned the governor against politicising the military. It also asked the governor to seek “other avenues for his relevance. Fayose should stop politicising the military andmilitary operations, seek other avenues for your relevance. The army today is not corrupt,” it wrote.

WEALTH CREATION

L-R: Honorary Adviser to the President/Chief Executive, Dangote Industries Limited, Mr. Joseph Makoju, representing the Special Guest of Honour, Mr. Aliko Dangote; former Governor of Anambra State, Mr. Peter Obi; Minister of Science and Technology, Dr. Ogbonnaya Onu; Abia State Governor, Dr. Okezie Ikpeazu ;and Minister of Labour and Employment, Dr. Chris Nwabueze Ngige, at the launch of the Abia State Job Centre Portal and graduation ceremony of Education for Employment #E4E Pilot Project in Umuahia, Abia State....yesterday

PDP: No Special Treatment for New Entrants, INEC Registers 1.8m New Returnees, Says Makarﬁ Voters in CVR “That’s how APC got it politicians. We have many must emerge by merit. Onyebuchi Ezigbo ÓØ ÌßÔË Lagos, Rivers lead other states Onyebuchi Ezigbo ÓØ ÌßÔË As part of preparations for the 2019 general election, the Independent National Electoral Commission (INEC) said it has recorded a total of 1,810,153 new voters in its ongoing nationwide Continuous Voter Registration (CVR) exercise which commenced last April. The commission also said the number of Permanent Voter’s Cards (PVCs) collection has reached 65001 nation wide. According to figures released yesterday evening by the commission, Lagos State ranks first in PVCs collected so far with 9,982, while Zamfara recorded the least collection of only 22.

The National Chairman of Similarly, Lagos State has the Peoples Democratic Party the highest number of CVR (PDP) Senator Ahmed Makarfi, participation with 109,040, followed yesterday declared that new by Rivers State with 103,919. entrants and returning members However, the Federal Capital would not enjoy any special Territory (FCT) has the least privilege. registration number with 14,857. He said the decision was in According to a breakdown order to avoid the mistakes made by the commission released by the ruling All Progressives yesterday night, a total of 1,810,153 Congress (APC). participated in the CVR in the Makarfi who stated this while recent exercise. receiving the PDP Rescue Group The breakdown by INEC also at the party’s national secretariat revealed that 76,256 persons have in Abuja led by former governor requested for transfer of their of old Gongola State, Wilberforce PVCs, while 155,471 PVCs, have Jutta, who pledged loyalty to been defaced. the Makarfi-led leadership. With regards to defaced PVCs The loyalty visit to Makarfi Rivers State ranks the highest came just as former ministers of with 14,176 while Bayelsa State the party also vowed to ensure has the least by 88. that new a chairman of the PDP

The former PDP ministers said the era of impunity and exclusivity was over. They also said they would financially support the current national leadership of the party ahead of its non-conventions. While addressing the party leaders, Makarfi said the PDP was open to reconciliation with all interested parties but cautioned that nobody should expect any special concession. “We are open to reconciling with everybody. We are open to accepting new entrants into the party but no special privileges for anybody coming into the party. That is not an issue to be contemplated. No exclusivity. It will be inclusive without any special privilege to anybody or group of individuals.

wrong. We should learn from how APC got it wrong. What we need to do is that we will create a level-playing field. And that we don’t lord it over those who have slaved for the party. “The party must evolve mechanism for dedicated and loyal party men and women. That’s how people can remain committed. But if there is none, people can question themselves why do you have to continue exhibiting such loyalty and commitment to the party. “People can as well also be nomadic politicians and migrate to where the pasture is more green for whatever reasons. In some African countries, we didn’t hear of this kind of mobility. But in Nigeria, we are nomadic

nomadic politicians and they should behave well. They will be welcomed but I stand by what I have said earlier.” The former PDP ministers, noted that the new leadership of the party that is expected to emerge from the anticipated elective convention must be by merit. Chairman of the forum and former Minister of Special Duties, Tanimu Turaki, while briefing journalists after their meeting, said their conviction is that the best candidate should emerge as candidate. He stated that the era of impunity and lack of exclusivity in the party is over, noting that it is now open for all members of credible standing to participate.

FRIDAY, AUGUST 4, 2017˾ T H I S D AY

NEWSXTRA

IG: Lack of Funds Bane of Police Ambode demands additional area commands

Gboyega Akinsanmi ËØÎ Chiemelie Ezeobi The Inspector General of Police (IG), Mr. Idris Ibrahim, yesterday admitted the challenges undermining national security, noting that lack of funds was hampering the Nigeria Police from discharging its responsibilities as enshrined in Sections 214 and 215 of the 1999 Constitution. Conversant with the challenges facing the Force, Lagos State Governor, Mr. Akinwunmi Ambode, requested for two additional area commands, which he said, would help tackle the nefarious activities of criminally minded persons once and for all. The IG reeled out the bane of the Force yesterday at a meeting with Ambode at the State House, Alausa where he attributed the on-going police reform to the paucity of fund. Ibrahim visited the State House alongside the Deputy Inspector-General of Police, Operations, Mr. Habila Joshak, Assistant InspectorGeneral of Police, Zone II, Mr. Adamu Ibrahim and Commissioner of Police, Lagos State, Mr. Fatai Owoseni, among others. Since it established Lagos State Security Trust Fund, a public-private partnership on September 3, 2007, the state government had spent more than N20 billion in cash and equipment to support the state police command and other security agencies domiciled

in the state. Under the Ambode administration alone, the LSSTF had invested at least N4.756 billion to procure the security equipment, which President Muhammadu Buhari inaugurated on November 27, 2015, apart from the subsequent intervention, the state government had provided the police command. While acknowledging strategic support the Ambode administration had been providing the state police command in the last 27 months, the inspector-general admitted that paucity of funds had hampered security in the country, which he said, was the reason the force “often seeks assistance from the state government.” He, therefore, said policing “is fund-intensive. We have to conduct investigation and other activities. These activities are all centered on funding. Due to lack of funding, we are often compelled to solicit for fund from state and local government to carry out our activities.” The inspector-general acknowledged that Lagos State “has been a pace setter because this is the first state to introduce security trust fund. That is one thing we are trying to introduce at the federal level. Presently, we have a bill before the National Assembly centered on police reform. He frowned at the recent acts of romance with the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, by some

Lagos Arraigns 28 Adults, 12 Minors for Engaging in Homosexuality The Lagos State Government yesterday arraigned 28 adults and 12 minors before a Lagos Magistrate Court for allegedly engaging in homosexuality contrary to the laws of the land. The minors were arraigned before Ebute-Metta Magistrate Court, while the adults were arraigned before Yaba Magistrate Court. The defendants, who are all males, were arraigned separately on a one-count charge. They were all arrested last Saturday by men of the state police command in Owode Onirin area of the state. The defendants were said to have been caught in the act of homosexuality at a popular hotel in the area simply known as Vintage Hotel. According to the criminal charge, the defendants were said to have “On or about July 29, 2017, at Vintage Hotel, No. 999 Ikorodu Road/Toyin Close, Weigh Bridge, Owode Onirin, Lagos, in the Lagos Magisterial District, did engage in gay activities by permitting male persons to have canal knowledge of themselves against the order of nature and thereby committed an offence punishable under Section 261 of the Criminal Law of Lagos State, 2015.” The adults are Adedayo Kamadupe (27), Abiodun Pedro (22), Ikechukwu Onyebuchi (32),

Dike Stanley (19), Oji Charles Isioma (28), Garuba Ibrahim (21), Monday Favour (20), Ayo Marcus Ayobamidele (26), Stanley Adeasbo (25), Victor Isaac (18), Godwin Williams (19), Kashimawo Oluwatosin (25), Abass Tajudeen (24), Olamigoke Adeola (19) and Yussuf Fawaz (19). Others are Johnson Michael (19), Francis Michael (22), Samuel Adeyinka (25), Samuel Collins (25), Kazeem Akorede (25), Adebayo Bukola (23), Ochiagha Ifeanyi (19), Babatunde Taiwo (26), Raphael Dugh (30), Kenneth Ubaji (19), Alisi Ferdinand Okechukwu (30), Malik Ahmed (18) and Olamide Adeola (18). After the charge was read to the defendants, they all pleaded not guilty, while their lawyers - Ehiko Onoche, S.M Oladele urged the court to admit them to bail. The prosecution team led by Ms Adetutu Oshinusi from the Directorate of Public Prosecution (DPP), state Ministry of Justice, did not oppose their bail application but urged the court to direct the defendants to submit themselves to the state Aids Control Agency (LSACA) for monitoring and Lagos State Domestic and Sexual Violence Response Team (DSVRT) for rehabilitation.

policemen. This is just as he said the force would soon establish 88 new area commands across the country, adding that over 1,000 kidnappers have been arrested nationwide in recent times. “Public hearing has been heard on this bill and we believe it will be one of those instruments to change the face of policing in Nigeria. What often hamper security in the country is funding. “With the fund, we will have enough money to carry out our investigations. We will also have money to conduct other activities that will ensure adequate security. I thank the state government for the support it had been giving us in the area

of equipment and allowance to our officers. “We are trying to enhance our ability to check criminal activities at the coastal areas. We are trying to get more gun boat. We need to procure at least 10 more gun boats. I believe with the support of the governor, we will get more gunboats. “We are trying to enhance the Nigeria Marine Police to be able to use the facility effectively. We are happy that the Nigerian navy has accepted to train our officers on how they could use the facility better. With the gunboats, we will effectively check some of these criminal activities. “We believe that in conjunction with the state

government, we would be able to intensify security within the stretch of the road from Lagos to Port Harcourt. We believe that if we adopt the fund strategy at the federal level, challenges on funding would be resolved,” Ibrahim said. Also at the meeting, Ambode requested for two additional police area commands, noting that it would go a long way in tackling the nefarious activities of criminally minded persons once and for all. If eventually granted, Ambode said the additional commands would be set up in Ikorodu and Badagry, assuring that the state government was ready to provide the funds to set up the commands.

He said: “Funding is key to security. Security is fundamental to the growth of Lagos. It is central to the prosperity of Lagos. So, we are ready and we are committed to support all our security agencies – the Nigerian Navy and the Nigeria Police to make sure that we have a safe city where we can be investor friendly and also grow the economy of Nigeria. “I am ready to fund additional area commands in Lagos. We need two additional commands in Lagos, one in Ikorodu and another one in Badagry. There is a need for us to pay more attention to the Ikorodu axis because of the kind of reports that we are getting from there.”

Police Dismiss Four Ofﬁcers for Burgling Jonathan’s Abuja Residence Paul Obi ÓØ ÌßÔË

The Nigerian Police yesterday dismissed four of its officers involved in the burgling of former President Goodluck Jonathan’s residence located at Gwarinpa Estate, Abuja. The Federal Capital Territory’s Commissioner of Police, Musa Kimo, who gave approval for the dismissal of the four policemen over their criminal act, said the punishment would serve as a warning to other officers. The officers involved were all sergeants and include Musa Musa, F/No. 436691; John Nanpak, F/No. 235422; Ogah Audu, F/No.261898 and Gabriel Ugah, F/No. 425210. Spokesperson of the FCT Police Command, Anjuguri Manzah, explained that “the officers were guarding the residence of the former president when they suddenly turned round to rob the property, stealing everything of value therein. Manzah said: “Sequel to the outcome of the orderly room proceeding, the Commissioner of Police FCT, Kimo, has approved the immediate dismissal of the following police rank and files from the Nigeria Police Force,” he said. The spokesperson maintained that “the main culprit, Musa, would be charged to court, while efforts had been intensified to arrest his alleged accomplice, Malam Shuaibu, now at large. He further added that “their dismissal was in line with the First Schedule of Police Act and Regulation 370 Cap 19. “This action is in compliance with the vision of the IG to rid the Nigeria Police Force of criminal elements,” Manzah stated. Also, the deployment of the Operation Absolute Sanity personnel by the IG Idris to tackle the cases of kidnappings in the recent times on Abuja-Kaduna Highway have resulted to the arrest of additional 40 kidnappers. Police PRO, CSP Jimoh Moshood said: “The operations, comprises Special Police Force, Police Mobile Force, Counter Terrorism Squad, AntiKidnapping Units, Intelligence Response Team, Special Tactical Squad, the Force Intelligence Branch with Headquarters at Rijanah, Kaduna State. “The Joint Police Team are

under strict mandate to rout out the kidnap for ransom gangs and armed robbery gangs that have been terrorising the Abuja-Kaduna Highway in the recent times. “The operation is to complement and augment the on-going Joint Police and Military operations on the ground.” Moshood explained that “after the arrest and parade of thirty two (32) suspected kidnappers and their caches of

Arms and ammunition on the 31st of July, 2017 at kateri on Abuja-Kaduna Highway, further efforts intensified by the Police personnel of Operation Absolute Sanity in the last few days resulted in the arrest of additional forty (40) suspects and recovery of large caches of arms and ammunition, and other exhibits listed above in Rijanah area and other locations along Abuja-Kaduna Highway. “The identified kidnappers’ dens, hideouts, camps and

other black spots in the forest along Abuja-Kaduna Highway were stormed and raided by the personnel of Operation Absolute Sanity within the last few days and in the process three (3) victims (names withheld) were rescued unhurt from the gangs without payment of any ransom, and they have been reunited with their families. Some of the victims have identified most of the suspects as the people that kidnapped them.

FRIDAY, AUGUST 4, 2017˾ T H I S D AY

NEWSXTRA

APC to Probe Infractions during State Congresses Party’s crisis in Rivers deepens, leaders call for cancellation of poll Ernest Chinwo ÓØ ÙÜÞ ËÜÍÙßÜÞ ËØÎ Onyebuchi Ezigbo ÓØ ÌßÔË The All Progressives Congress (APC) has condemned cases of violence at its state congresses held last Saturday to elect delegates for the planned national non-elective convention. The party also said it would investigate the reported cases and take necessary action in line with the party’s constitution against whoever is found culpable. In a statement issued yesterday by its National Publicity Secretary, Mallam Bolaji Abdulahi, the party said it finds cases of violence in Rivers and Kaduna States quite disturbing. The statement read: “While noting that most of the state congresses were peaceful and conducted in compliance with guidelines and directives given by the party to the appointed congress committees, the APC finds cases of violence in Rivers and Kaduna States quite disturbing. “The party equally regrets and condemns the attack on the National Union of Journalists (NUJ) secretariat in Kaduna which resulted in injuries on two journalists. “The party will investigate the reported cases and take necessary action in line with the party’s constitution against whoever is

found culpable. However, the party commended all the states whose exercise went peacefully, promising that where grievances have been reported, the party shall examine such cases and address them accordingly. Meanwhile, the crisis rocking the Rivers State chapter of the party has deepened with notable leaders of the party calling for the cancellation of last Saturday’s non-elective congress of the party in the state. This is as the appeal panel set up by the party called on all stakeholders to be patient while the (NWC) National Working Committee of the party takes steps to address the issues of concern. The state chapter of the APC has been in turmoil since last Saturday as major stakeholders accuse Minister of Transportation, Chibuike Amaechi, of writing results to ensure that Senator Magnus Abe, who is nursing a gubernatorial ambition, does not have a foothold in the party’s list of delegates to the national convention. The state Deputy Chairman of the party, Chief Peter Dike, and the Legal Adviser of the party, Chieme Chienweikpe, have jointly called for the total cancellation of the local government congress that was purportedly held in

the 23 local government areas on July 29. Dike declared that no election took place in any of 23 local government area of the State. He pointed out that in his position, he is capable of saying what actually took place. “The purported congress never held in any of the 23 local government Areas. There was no time the state working committee of the party held a formal meeting to discuss the holding of local government congress in the state. “The flagrant imposition of delegates has severely divided the party. We in the APC left the Peoples Democratic Party (PDP), in protest against impunity and lack of internal democracy. There was nothing to show that election took place in any local government areas in the state,” he said. The deputy chairman spoke while addressing the National Appeal Committee which visited Rivers State to ascertain if the local government congress actually held in the 23 local government

areas last Saturday. In his presentation, Chienweikpe stated that there was no time that the state working committee met to deliberate on the congress. He insisted: “As the legal adviser of the party in Rivers State, I can affirm that no local government congress took place in the state. So, the names of those being released to the media are fake designed to give credence to an election that never took place.” Former State Commissioner for Labour in the last administration, Dr. Ipalibo Harry, also said the local government congress did not hold because the Minister of Transportation, Amaechi, allegedly wants to hijack the party. He declared: “The cause of the crisis in the party is because the Minister of Transportation does not want Senator Magnus Abe to be governor of Rivers State. “Let me say it now that representatives of the national leadership are here: any attempt to deprive Senator Abe from contesting for the party’s ticket for the 2019 governorship election

will decimate the party in Rivers State.” Former State Attorney General and Commissioner of Justice, Worgu Boms, said something must be wrong with the party leadership if in his capacity, he did not know anything about local congress in the state. “Some people came from Abuja and checked into a hotel for two days. I was informed by a reliable source that all the voting materials were locked up at Amaechi’s residence in Abuja,” he said. He asked: “If the electoral materials were locked up at Amaechi’s residence at Abuja, then what materials did they use to conduct the purported election?” A member of the House of Representatives, Barry Mpigi, told the appeal committee that no federal legislator was informed of the purported local government congress. “The problem is because Senator Abe wants to be governor of Rivers State on the platform of the APC. Amaechi says Abe

cannot be governor in APC. Why then is Amaechi unprepared to place the contest on who is most preferred by the people to a free, fair and credibly electoral contest?” He queried. Also, the member representing Ikwerre/ Emohua constituency in the House of Representatives, Elder Chidi Wihioka, called for outright cancellation of the result from what he dubbed a fake congress, insisting that no congress held last Saturday in any ward of the party in the 23 local government areas of the state. “Our position is that there was no congress, no election held in any part of the state. Whatever result was released as coming from the congress should be cancelled and a fresh congress slated,” Wihioka said Reacting to the barrage of complaints, the three-man Appeal committee of the APC assured members of the party dissatisfied with the last local government congress of the party in Rivers state that their grievances would be communicated to the appropriate level of the party for action.

PANDEF, OSINBAJO MEET ON NIGER DELTA and those in prison, for those that never made any sacrifice is curse,” MEND said. Another group, Reformed Egbesu Fraternity (REF), also castigated both PANDEF and federal government, saying it had withdrawn from its peace pact with the government. “At age 90, Papa Clark should step aside for younger people if at all, there is the likelihood of further engagement with the federal government, but we equally dissociate ourselves from the antics of the federal government in the peace process and call for outright destruction of the oil economy in our territories and communities to teach the Federal Government a hard lesson. “By this resolution, we have withdrawn from the peace process and warn that the Niger Delta ethnic nationalities were never conquered and that we would match fire for fire with the Hausa-Fulani military. We have always spared their lives even when their excesses were glaring but in the next ground of confrontation they would learn in a bitter way,” the group threatened. However, as the meeting continued late into the night, the presidency released a list of moves it had made since the visit of Osinbajo to Niger Delta earlier in the year. According to a release by the acting president’s spokesman, Akande, the government had commenced the process of replacing illegal refineries with modular refineries. He also said the government had put the machinery in place towards the opening of Maritime

University in Okerenkoko, Delta State. Akande also said the federal government had released N35 billion to sustain the amnesty programme in the region adding that another N70 billion had been allocated to fund amnesty programme in 2017 budget, among others. “The Federal Government has started the process of replacing illegal refineries in the region with modular ones, including options on how to involve the communities as shareholders in the proposed Modular Refineries. Ground-breaking of the first set of such refineries are expected in the fourth quarter of the year. In its operations, FG will supply crude to the local refineries at reasonably considered price, as an incentive to stop the current practice whereby illegal refiners vandalise and steal the crude. Each Niger Delta is expected to host 2 modular refineries each. “Similarly, FG has commenced the process for the opening of the Maritime University at Okerenkoko in Gbaramatu Kingdom, Delta state. Already, a 5-man interagency committee headed by the Minister of Education is in the final stages for the official opening of the university in the 2017/2018 academic session. “FG has released additional N35 billion to step up the Amnesty Programme in the Delta region, which is a specific and significant raise to the 2016 budgetary allocation to the office. This significant increase is already reflected in the 2017 budget with N70billion allocation,” Akande said.

IMPROVED HEALTH CARE IN FOCUS

L-R: Minister of Health, Professor Isaac Adewole; Director, National Board of Technical Education (NBTE), Mrs. Helen Oduntan; Education Leader, GE Healthcare, West and Central Africa, GE Foundation, Lilian Okoye; and Technical Partner, Engineering World Health, Professor Carmen Walker, during the inauguration of the Lagos University Teaching Hospital (LUTH) School of Biomedical Engineering in Lagos.... Tuesday

FG Grants Creative Industry Tax Holiday Olawale Ajimotokan ÓØ ÌßÔË The creative industry has been accorded a pioneer status in a landmark move that will transform the industry into a creative economy, Information and Culture Minister, Lai Mohammed, said in a statement yesterday. Mohammed said the decision to grant the industry ‘Pioneer Status’ was in fulfillment of the promise made by acting President Yemi Osinbajo, represented by the Minister of Finance, Kemi Adeosun, at the opening of the Creative Industry Financing Conference on Lagos in July 17 to 18, 2017. The ‘Pioneer Status’ is granted to companies making investments in qualifying industries and products as

tax holiday from the payment of corporate income tax and withholding tax on dividend from pioneer profits for an initial period of three years, extendable for one or two additional years. The status for the creative industry covers music production, publishing and distribution (including online digital distribution); photography; production and post-production of digital content for motion pictures, videos, television programmes, commercials, distribution and exhibition (digital movies, animation, videos, television programmes and commercials); publishing of books (copyrighted books) and development and Publishing of ready-made software (operating systems, software applications and computer games). ‘’This is a shot in the arm for

the creative industry, and it will definitely catalyse investments in the industry. It is also the answer to our quest to spur the establishment of world class studios in Nigeria for production and post-production of movies and music videos,’’ Mohammed said. He said the need to grant ‘Pioneer Status’ to the creative industry as well as tackle the piracy of creative works were among the key issues raised by participants at the Creative Industry Financing Conference. ‘’It is a measure of the increasing importance attached to the industry by the federal government that these issues are now being handled with utmost urgency. First, the ‘Pioneer Status’ has been granted within three weeks of the conclusion of the conference.

Secondly, an Anti-Piracy Committee, comprising representatives of the Federal Ministry of Information and Culture, industry stakeholders and the police, has been set up to work out the modality for tackling piracy in a lasting and sustainable manner,’’ he said. He thanked the stakeholders in the creative industry for supporting the federal government in its efforts that have succeeded in putting the industry in the front burner of the economy and made it a key plank of the government’s economic diversification policy. ‘’We are determined to do more for the creative industry in order to allow the creative talents of our youths to blossom, create massive jobs and position Nigeria as a global hub for the industry,’’ the minister said.

T H I S D AY FRIDAY AUGUST 4, 2017

T H I S D AY ˾ FRIDAY, AUGUST 4, 2017

FRIDAYSPORTS ‘Unbeatable’ Bolt Set to Draw Curtain on Illustrious Career

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

1 6 T H I A A F W O R L D C H A M P I O N S H I P S B E G I N I N LO N D O N

Okagbare on cusp of history with Team Nigeria

Duro Ikhazuagbe with agency report Beginning from this morning, global attention will shift to the Olympic Stadium in London as the 16th IAAF World Championships begin. Jamaican Usain Bolt who has remained a phenomenon since becoming the poster-boy of global athletics way back in 2008 will be the focus of everyone to see if he is capable of drawing curtain on his illustrious career unbeaten. Asked in a pre-championships briefing on Sunday what the 30-year old sprinter wants to be remembered as a legacy, bolt spelt it out thus: “Unbeatable! Unstoppable!” Yet, this is that same starryeyed 15-year old who shot into global attention winning the 200m event of the IAAF World Junior Championship inside the National Stadium in Kingston in 2002 to kick-start his ride to stardom. Winning his first sprint double at Beijing 2008 Olympic Games and following it up with two world records of 100m (9.58secs) and 200m (19.19) at the World Championships in Berlin, Germany a year later, really shot lightning Bolt to the summit of global athletics. Between then and now, the Jamaican has shown to all and sundry that there is nothing more to prove. However, it remains to be seen how Bolt can actualize his dream of leaving the sport unbeaten at this last outing in London. After the 100m final tomorrow night and the 4x100m relay final on August 12, the world will know whether Bolt was merely grandstanding. To Nigerians who have tasted the coolness of winning silver and bronze medals in the past, focus will be on reigning Commonwealth double gold medalist, Blessing Okagbare-Ighoteguonor. Nigerians will be looking forward to see if the Sapele-born sprinter is capable of stepping higher to become the first Nigerian to win a blue ribband medal after the silver and bronze at the 14th edition of the Championships in Moscow, Russia four years ago. The closest Nigeria came was Olusoji Fasuba’s fourth place finish in 2007 at the Naggai Stadium in Osaka, Japan but Okagbare will relish her chances of surpassing that feat following her late return to form. The six-time Nigeria 100m champion ran her first sub-11 seconds 100m race (10.99 seconds) last month at the IAAF Diamond League meeting at the Olympic stadium in London, venue of the championships. It was the first time since September 2015 she would break 11 seconds in the event and she will be confident she has got the momentum going for her. Okagbare will also be banking on the fast track at the Olympic stadium which has proved to be a good ground for her as it was at the same track in 2013 that she became the first Nigerian nay African woman to run a sub-10.80 seconds (10.79 seconds) in the 100m.

So, can Nigerians and indeed Africans start counting their chickens? Can she achieve what the great Mary Onyali who ran in three consecutive 100m finals at the championships between 1991 and 1995 failed to achieve? On the surface it looks a very herculean task as she will not only have to think about the duo of Elaine Thompson, the Jamaican who won the world title two years ago and added the Olympic crown just last year in Rio and the flying Dutch woman, Dafne Schippers who won the silver medal behind Thompson two years ago in Beijing but also add the two Ivorians, Muriel Ahoure who broke her African record by one hundreth of a second (10.78 seconds) last year and the more impressive Marie-Jose Ta Lou. Okagbare will also have to spare some thoughts for the dark but talented American, Torie Bowie who won a surprise bronze medal in Beijing. If the track gets congested for the Nigerian, she could seek redemption in the long jump where she will only require one long leap to achieve another slice of history: become the first Nigerian to be crowned a world champion. Only three athletes have come closest to making the mark. Innocent Egbunike was the odds-on-favourite to win the 400m title in 1987 after his impressive, pre-championships performance in the circuit and came to the event in Rome as the fastest man in the world in the event. When the chips came down, he settled for a silver medal. Fast forward to 1999.Two athletes, Francis Obikwelu in the men’s 200m and Glory Alozie in the women’s 100m hurdles looked sure bets to be crowned world champions. While Alozie’s prechampionships’ feats made her look one of the sure favourites alongside Gail Devers, Olga Shishigina and the Swede, Ludmila Enquist. Obikwelu’s 19.84 seconds run in the 200m at the semi-final of the event got the reigning 100m king, Maurice Green who was gunning for a sprints double scared. Both Nigerians failed to fulfill expectations. While Alozie (12.44 seconds) raced to a silver medal finish behind Devers (12.37 seconds), Obikwelu settled for a bronze medal behind Green (19.90 seconds) and Brazil’s Claudinei da Silva (20.20 seconds). Interestingly, Obikwelu’s 19.84 seconds run was the fastest time in the world that year. For Okagbare, the task may look less herculean unlike in the 100m but she will have to leap farther than the 6.77m persona season’s best she jumped last month in Hungary or even the 6.99m that fetched her the silver medal behind Britney Reese four years ago in Moscow where she lost the gold by 2cm. While all attention will be on Okagbare, petite sprint hurdler, Tobiloba Amusan could prove to be the joker in the pack of the 18 athletes that will dorn Nigeria’s

green and white colours at the championships. Amusan, the University of Texas in El Paso (UTEP) undergraduate student is the hottest sprint hurdler in Africa this year and one of the seven fastest in the world following the 12.57 seconds she ran last June to win the American collegiate title. She is also the second fastest African of all time in the event after compatriot Glory Alozie and

looks a good bet for a place in the final in her first trip to the championships. The gold may be far from her reach unless reigning world record holder (12.20 seconds) in the event Kendra Harrison hits the hurdle and crashes, she can make the podium if she runs faster than her personal best of 12.57 seconds. While podium appearances by Okagbare and Amusan may not come much as a

surprise to Nigerians, shot putter, Chukwuebuka Enekwechi’s will need a miracle to throw his way to the podium. The best the USA-based Nigerian who changed his allegiance to represent his parents’ country just before the championships should be hoping for should be to throw farther than the 21.07m that secured his qualification for the event and see if it could land him

in the final. A place in the final will be historic for Enekwechi as no Nigerian shot putter had made it that far. The women’s 4x400m relay team will also be hoping to emulate the feat performed by the Sunday Bada-led male team in 1995 in Gothenburg, Sweden where the team finished third after a spirited anchor-leg run by the late Bada.

Bolt… eyes on ‘unbeatable’, ‘unstoppable’ record

TRANSFER NEWS…

PSG Signs Neymar as Barcelona Accepts £200m Buy out Fee Paris St-Germain has signed Brazil forward Neymar for a world record fee of 222m euros (£200m) from Barcelona. The deal for the 25-year-old smashes the previous record set when Paul Pogba returned to Manchester United from Juventus for £89m in August 2016. Neymar will earn 45m euros (£40.7m) a year - 865,000 euros (£782,000) a week - before tax from the initial five-year deal, a total outlay of £400m. Barcelona told the French club PSG it must pay the transfer fee “in full”. After weeks of speculation, Neymar arrived for training with Barcelona on Wednesday with his father and representative, and told the Spanish club he wanted to leave. He was then given permission by Barca manager Ernesto Valverde

to leave to “sort out his future”. In Spain, a release clause can only be activated by a player buying himself out of his contract. But when Neymar’s lawyers attempted to make the deposit yesterday, La Liga officials rejected the payment. Further statements followed from all sides as the negotiations continued. La Liga believes PSG are violating UEFA’s Financial Fair Play (FFP) rules and Barcelona previously said they would report PSG to European football’s governing body UEFA for a FFP breach. PSG believes La Liga was acting unlawfully, while the French league (LFP) said it was “surprised” and urged its Spanish counterpart to “abide by the FIFA rules”.

So later on Thursday, Neymar’s representatives paid the 222m euros (£200m) fee at Barca’s offices instead FFP rules, first implemented during the 2011-12 season, stipulate that European clubs cannot outspend what they earn by more than 30m euros. PSG is backed by money from Gulf state Qatar and La Liga President Javier Tebas has accused the French club of “financial doping”. Neymar joined Spanish giants Barca in 2013 and has won two La Liga titles and one Champions League. On Thursday, Messi posted on Instagram: “It was a great pleasure to have shared all these years with you my friend Neymar. I wish you good luck in this new stage of your life.” To which Neymar replied: “Thank

you brother. I will miss you.” NEYMAR’S PROFILE r Born in Mogi das Cruzes, a suburb of Sao Paulo, on February 5, 1992 r Started his career at Santos after signing a professional contract in January 2009 r Remains Santos’ leading goalscorer in the post-Pele era with 138 goals in 229 matches r Real Madrid, Chelsea and Manchester United were all linked before he eventually signed for Barcelona in June 2013 at the age of 21 r He made his Barca debut against Levante in August 2013 and went on to score 105 goals and provide 80 assists in 186 games for the Catalan club r Made his international debut aged 18 and he has scored 52 goals in 77 games for Brazil.

Babalola, Imeh Take their Rivalry to NCC Tennis League Opener The Nigerian Communications Commission (NCC) 2017 Tennis League opener taking place at the Abuja National Stadium on Saturday, August 5 and Sunday August 6 will further highlight the emerging rivalry between fast rising Joseph Imeh of Team Muller and former national champion, Abdulmumuni Babalola, of Team Civil Defence. Babalola and Imeh met in the

finals of the prestigious CBN Senior Open Championships a couple of months ago with the ‘veteran’ winning 6-3, 6-4 in a match the youngster, playing his first ever senior finals, failed to find the form that took him to the championship match. “I think it is going to be different this time around” said Imeh, dripping sweat from a heavy workout. “The team

championship is usually different for me because I tend to play my best game. Last year I beat Sylvester Emmanuel in Kaduna and won all my singles matches. Team Civil Defence, winners of the 2015 edition also have in their ranks Clifford Enosoregbe, another former national No.1 who has rediscovered his form and Christie Agugbom, the leading

female player in Nigeria who will be seeking to avenge her upset loss to Ronke Akingbade at the CBN Senior Championships. The tie will feature two men’s singles matches with reverses, one ladies’ singles, one men’s doubles and a mixed doubles. The league, the first of its kind in Africa, is offering a consolidated prize money of N23m with the champion team bagging N7m.

Friday, August 4, 2017

UT H

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Price: N250

MISSILE Osinbajo to Agitators â€œIt is also not true that those who make marginalisation charges are altruistic. Often what they are saying is: I am marginalised, appoint me.â€? â€“ Acting President Yemi Osinbajo accusing agitators of restructuring and those alleging marginalization of pursuing puerile selďŹ sh agenda.

OKEYANUEYIAGU GUEST COLUMNIST

The Economics of Tax, Taxes and Death

ne of the many issues that has agitated my mind in recent times, is the issue of tax, tax collection, tax administration and tax enforcement in Nigeria. This issue has become even more agitating with the many counterproductive strategies and plots deployed by government agencies and their agents in the administration of the various tax regimes. The general argument by taxpayers is that government has consistently and serially failed and abdicated its role in fulfilling its socioeconomic obligations which accounts for low tax compliance. During one of my many trips to the United States, I sat next to an American who appeared from his drawly accent to be from Texas or from one of the Southern Belt states. During our very long 14-hour flight, we had ample time to chat about various issues ranging from race to weather, and from food to wars. After what appeared to be a flight to eternity, our discussion arrived at why he would leave America, a country that was developed and planned to cater to all the needs of most of its citizens; a country that provides its citizens with protection, social welfare cushions and other amenities, to move to Nigeria to seek employment. In that peculiar Southern drawl he said... â€œMann, taxes and taxes and taxes... Uncle Sam will tax your asses off... goddamn it...â€? From that moment, I began to reflect on the power of government over its citizens, and the natural responsibilities between government and the governed. My American co-traveler who, by the time we were halfway into the flight, was on his 10th, or so can of Budweiser beer and was by now loosened and more loquacious. Without prompting, he volunteered his reason for choosing to ply his trade in Nigeria. He said to me, this time, in less measured tone, as the Budweiser had started working, that; â€œ... Mann the only things assured in life for any American is Tax, Taxes and Death... the fucking government will take everything you sweat for... and what do they give back?...â€? he thundered â€œ...freaking shit, and they call it services and protection... fuck them all... I hate paying them freaking taxes... that is why I am here, where I make my sweat, tears and blood pay,... and I can keep what I want to keep for me and my family and whatever I want to give to the freaking government and the evil politicians I do... ainâ€™t nobody gonna exploit me no more...â€?. He continued, this time more agitated; â€œ... you Nigerians are fucking stupid and ignorant ... why do you pay taxes to a government that does not care for your welfare, a government that does not provide simple comfort and amenities like power, good motorable roads and protection from criminals and even mosquitoes... a government made up of thieves and criminals who turn around and steal the monies they force out from the rich and the poor as taxes...â€? Now, looking me directly in my eyes with visible anger and condescending stare, he continued... â€œyour people are idiots and docile fools... how can you allow this to happen? ... with all the endowment bestowed on your country, human and natural, you allow yourselves to be exploited like slaves...â€? Although intentional, I apologise for replicating the expletive and unprintable tirades of my American co-traveler. It was done for the sole reason of showing his utter disdain for the

Federal Inland Revenue Service (FIRS) Chairman, Babatunde Fowler exploitation of humanity by those in government. At that point, I was covered in shame and was lost for words in response. All I could muster, was that our politicians were no different from the American politicians and that the American people were equally as docile as we Nigerians. This encounter that took place over 20 years ago, may have been proven right today with the current trend in America, where certain political leaders will not disclose their tax status and yet were voted in to lead that nation. Today, I wish I could run into that American, so that I can tell him how idiotic and docile his people have also become. Upon arrival at my destination in America, I was invited to a Super Bowl party by a bunch of my old schoolmates mostly doctors from the University of Nigeria, who, long after our graduation in the 1970s, had all taken flight to the US in search of greener pastures. The host was an old schoolmate, a general practitioner of medicine, whose million-dollar mansion in the exclusive Buckhead area of the city of Atlanta, was a clear testimony of his monumental achievement and success in America. The last time I checked, his classmates and contemporaries who stayed back in Nigeria, were still battling to pay their rents in Surulere and are still struggling to manage with their childrenâ€™s school fees in our dilapidated, rundown and poorly run schools. The moment I entered my friendâ€™s home I was greeted with warm welcome and naturally, as I had just arrived from Nigeria, was bombarded with questions about home. The firework of questions was intense, probing and nostalgic. I was not prepared and ready to provide answers to their inquisition, as I had just escaped from the hardship of living in Nigeria and was looking for a place to lay my weary head and enjoy the comfort of being in a country and a society that cater for its citizens and whosoever may have the opportunity to obtain a permit or visa to visit. My friends will have none of that. They peppered me with more probing questions about home, relentlessly accusing me and other home-based Nigerians, who live there, of destroying and squandering the fortunes of our country. Another friend and schoolmate who is a very successful cardiologist, in fact rated one of the best in the state of Georgia, joined in the fray of accusers and with a frenzy accused Nigerians at home of being tax dodgers, thundering that the underdevelopment in Nigeria was largely occasioned by the generality

of Nigerians not being responsible tax payers. The salvo of attack was coming from all corners and was articulated with brilliance by these â€œdesertersâ€? of our country. I was boxed in, and, like Mohammed Ali, I started plotting my way out of the dangerous corners by jabbing, weaving and floating all around the ring surrounded by angry Nigerian intellectual immigrants whose souls were still left at home, and whose concerns were laced with nostalgia and genuineness. I rose up, cleared my throat and at once got everyoneâ€™s attention. I began to ask them questions that appeared mundane but required answers. I asked our host where he mounted his generators and huge diesel tanks, his high fence and steel gates, his maigadis (guards), his water borehole. To the cardiologist who drove in, in a large luxurious SUV, I asked when last he changed his shock absorbers and fuel and oil pumps, and other parts of automobile that are constantly destroyed by bad roads and imported fake and low quality petroleum products in Nigeria. They all stared at me in bewilderment. I proceeded to remind them that for as little or no taxes they claim we pay in Nigeria, we get nothing in return. That if someone were to have a medical emergency right there in Atlanta, an ambulance and medical help would be there in less than five minutes, and that if our hostâ€™s house were to go up in flames, the fire service would be there in no time. I narrated to them the experiences of a neighbor who watched his house burn down to the ground and when he attempted to call the fire services, their phone lines were dead, and when they finally were dragged down by someone who drove to their station, they came with fire trucks that had no water. With dead silence in the TV room of our host, I narrated another experience of another neighbor whose house was raided in the dead of the night by armed robbers. During that harrowing incident, I told them how I was woken up by loud booms of gun shots and the repeated wailing of our neighbourâ€™s wife and children pleading for their lives. That I peered through my window and roughly counted over ten or so hefty men carting away properties belonging to our neighbour while inflicting bodily harm on them. We and other neighbors called the Police for help. Needless to say that the Police came one hour after the night marauders who spent over an hour at this location had long left. My host and friends were stunned. But I was not done yet. I proceeded to narrate a personal experience that occurred to me while taking a trip by road with my then young family to visit my parents in Awka, Eastern Nigeria. Driving through the death trap called the expressway filled up with potholes and dangerous gullies populated by dare devil drivers racing at speeds reminiscent of the Indy 500 motorway races with no speed limits, no police speed and traffic administrators and control, we were stopped within the vicinity of Benin City by thugs claiming to be agents of Edo State Government, who mounted road blocks with spiked thorns of iron. Before we could blink, these smelly thugs with bloodshot eyes, indicative of illegal substance inducement, had jumped into our vehicle demanding to see our radio tax document. I explained to them that my car had no radio and that even if it did, we had no interest in listening to Radio Benin or radio whatever, simply because

these radio stations offered nothing of interest to us, but mere rubbish that disturbs the tympanic membrane and pollutes the minds of discerning listeners. Needless to say, we were talking to dead horses. They â€œdetainedâ€? us on the road for hours and forced us to part with non-receipted payment for â€œradio taxâ€?. Many travelers suffered and are still suffering from similar incidents on our highways. Today the Police, Customs and even Immigration agents are all lined up on our deprecated deathtrap highways collecting â€œtaxesâ€? from Nigerian travellers. Only recently, three neighbours of mine and myself came together to discuss the state of the road on our street which is located in a high brow Ikoyi residence area. Our street, a stretch of less than 200 meters, in about 20 years that I have lived on it, has not received a cup of asphalt or any type or form of pavement or maintenance. Our street, housing some of the most beautiful houses in Nigeria, on the average, may be conversely considered to be the most expensive real estate in the entire world. Yet the road is all broken and dilapidated with smelly overflooded gutters housing the most vicious mosquitoes and rodents. Whenever it rained, we and our cars swam through the streets in manic ways that will make the Olympic Swimming Champion Michael Phelps green with envy. Yet again, every other minute, the Lagos State Government agencies in charge of tax collection for various multiple taxes: tenement, refuse, water, mast, environmental and even the air that we breath, parade our street demanding for tax payments. We have waited in vain for our road to get fixed and for other essential needs to be fulfilled by this same government. Feeling that our living conditions have been seriously degraded and our real estate grossly devalued, the four of us, after being unable to persuade the government to take up their responsibilities and also unable to engage our other neighbours to join us in repairing the road, contributed millions of naira and contracted a private road repair company to apply palliative measures to make our street road motorable. It did not stop the tax man from making his more than frequent visits to collect where he did not sow. Taxes are as old as the universe. The Bible is replete with various forms of taxation instances, most of them demonizing tax collectors as wicked and evil people who were not expected to be pure and were not expected to inherit the Kingdom of God. However, taxation has come to become, in modern times, an essential catalyst and an inevitable instrument of generating revenue for governments and, in turn, for providing essential services to the citizens of the state. While government and its method of taxing and its taxation policies, orientation, implementation, can be problematic, a wise and conscientous leader, who understands the algebra of economics and feels the pulse and instincts of the people he leads, would use his wisdom to institute tax policies and methods that utilize his/her power to tax and spend in a way that can be harnessed to make the economy grow, especially in the private sector and to ameliorate the suffering of the taxed. r %S 0LFZ "OVFZJBHV " 1PMJUJDBM &DPOPNJTU XSPUF GSPN *LPZJ -BHPT

NOTE: This piece is concluded in the online edition at www.thisdaylive.com

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