Saturday 27th August 2017 by THISDAY Newspapers Ltd

Despite Rift over ECOWAS, Nigeria, Morocco Taking Steps to Actualise Coastal Gas Pipeline FG may have prioritised project over planned $12bn Trans Sahara gas line Chineme Okafor in Abuja Nigeria and Morocco have entered into an initial feasibility studies agreement to advance the construction of a new coastal pipeline that would

take gas all the way from Escravos to Morocco. THISDAY learnt that following the decision to build a new gas line between the two countries as was reached during the visit of King

Muhammed VI of Morocco to President Muhammadu Buhari in December 2016, funds for the project’s initial feasibility studies have been provided by both countries. THISDAY also learnt that

this was in addition to the assemblage of experts from both countries, with the Nigerian National Petroleum Corporation (NNPC) at the forefront of the studies for Nigeria.

Interestingly, this is coming at a time when the request by Morocco to join the Economic Community of West African States (ECOWAS) has unsettled Nigeria, the region’s economic power. Though, the Nigerian

government has not explicitly or formally expressed its opposition to Morocco’s bid to join the 42-year-old regional body, it is not disposed to the Continued on page 9

NPA Terminates JVA with NGETCL over Violation of Procurement Act .... Page 9 Sunday 27 August, 2017 Vol 22. No 8165

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'SARO THE MUSICAL' IN LONDON… R-L: Corporate Relations Executive, MTN, Mr Tobechukwu Okigbo; MD, Standard Chartered Bank, Mrs Bola Adesola; MD, Eventful, Mrs Yewande Zaccheus; Chairman First Bank, Mrs Ibukun Awosika; Director/Producer, Saro the Musical, Mrs Bolanle Austen Peters; Director, MTN Foundation, Mrs Aishat Sadauki OON; and GM, Regulatory Aﬀairs, MTN Nigeria, Ms. Oyeronke Oyetunde, at the premiere of “Saro the Musical” to London audience at the Shaw Theatre, West End, London ...weekend

Ohanaeze: AGF Biased, Pandering to Arewa Youths Northern elders constitute panel on pressing regional issues Abimbola Akosile in Lagos, Onyebuchi Ezigbo in Abuja, and David-Chyddy Eleke in Awka The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, said yesterday that the attempt by the Attorney General of the Federation and Minister of Justice, Abubakar Malami,

to secure the re-arrest of the leader of Indigenous People of Biafra, Nnamdi Kanu, was an exercise born of prejudice and discrimination. In a statement by its president-general, Chief John Nwodo, Ohanaeze accused Malami of gratifying the treasonable sentiments of the Arewa youths of northern

Nigeria who had issued an ultimatum to Igbos in the region to leave and also demanded Kanu’s return to detention. IPOB reacted yesterday also to the moves to arrest Kanu, calling it one of the several acts of intimidation by the President Muhammadu Buhari government, and vowing to resist

any attempt to return the IPOB leader to custody. In a related development, the Northern Elders Forum yesterday announced the constitution of a special intervention committee to look into some pressing issues affecting the 19 states in the region. A member of the forum, Alhaji Mustapha Wali,

stated this in Makurdi, when the group paid a courtesy visit to Governor Samuel Ortom of Benue State at the start of NEF’s three-day meeting. The AGF had on Friday announced the commencement of processes to secure the revocation of the bail granted Kanu in April by the Federal High Court in

Abuja, alleging that he has broken the bail conditions. Kanu was released from Kuje Prison, Abuja, on April 29, four days after he was granted bail by Justice Binta Nyako, and after nearly two years in detention for alleged treasonable offences. Continued on page 9

T H I S D AY SUNDAY AUGUST 27, 2017

ͺͿ˜ ͺ͸͹Ϳ ˾ T H I S DAY, T H E S U N DAY N E W S PA P E R

PAGE NINE

NPA Terminates JVA with NGETCL over Violation of Procurement Act BPP raised memo in 2015 rendering the contract invalid Eromosele Abiodun The Nigerian Ports Authority (NPA) has terminated the Joint Venture Agreement between the authority and a consortium led by Niger Global Engineering and Technical Company Limited (NGETCL) for not complying with the Public Procurement Act. The NPA stated this in a letter dated August 22, 2017, addressed to the Managing Director of NGETCL handling the Calabar Channel project. By terminating the agreement, the NPA has acted on the recommendation of the Bureau of Public Procurement, which had during the administration of former President Goodluck Jonathan condemned the contract and asked that its implementation should be stopped. The latest letter titled, “Joint Venture Agreement between the Nigerian Ports Authority and the Consortium Led by Niger Global Engineering and Technical Company Limited” was obtained by THISDAY at the weekend. It reads: “Please be informed that the Nigerian Ports Authority, as a statutory corporation, having

established non-compliance with the provisions of the Public Procurement Act 2007 in the selection of the consortium led by your company as a party to the Joint Venture Agreement (JVA), cannot continue to maintain a JVA which is inconsistent with an extant law of Nigeria and therefore in breach of public policy. Accordingly, the authority is constrained to put an end to the JVA.” The NPA, in the letter signed by its Board Secretary/Legal Adviser, E. I. Williams (Mrs), added: “Take note that the Joint Venture Agreement dated July 25, 2013 between the Nigerian Ports Authority and a consortium led by Niger Global Engineering and Technical Company Limited, including the Joint Venture Agreement dated January 25, 2013 between the same parties, is hereby terminated.” NPA, through its subsidiary, Calabar Channel Management (CCM) was reported to have entered into a contract with NGETCL. The contract, meant to dredge the Calabar Channel was awarded to NGETCL, but was allegedly condemned by the

Bureau of Public Procurement for violating all due processes. The issue later degenerated into a crisis, having caused conflict between NPA and the Chairman, Senate Committee on Customs, Excise and Tariff, Senator Hope Uzodinma, a former chairman of the company. Efforts by THISDAY last night to get the reaction of the management of NGETCL was unsuccessful. The recommendation for termination of the Calabar channel contract actually predates the President Muhammadu Buhari administration and the leadership of Ms. Hadiza Bala-Usman at NPA. The former Director-General of BPP, Emeka Ezeh, had in a memo to the former President Goodluck Jonathan, on May 18, 2015, raised issues and made recommendations about the contract at the twilight of the administration. In the memo obtained by THISDAY, Ezeh asked Jonathan to approve the termination of the contract, especially on the grounds that NGETCL hijacked the process of selection of the qualified companies. In fact,

Ezeh alleged that NGETCL was fraudulent and did not follow the due process to get the contract. According to the memo obtained by THISDAY, “At the end of the prequalification exercise, six companies were pre-qualified and submitted their technical and financial bids. Based on the tender evaluation, recommendation was made to the Bureau for Public Procurement for issuance of no objection certificate for the award of contract in favour of Messrs Lagos Channel Management Company in the sum of 120,331,193.47. Over N26 billion. “The Bureau of Public Procurement on September 9, 2011, as a result of protest by Dredging and Reclamation Jan De Nul Limited, declined the issuance of a “NO OBJECTION’ certificate for the award of contract for the Dredging of Calabar Access Channel in favour of Messrs Lagos Channel Management Company Limited. “Consequently, in November 2012, a representation was made to the President by the Bureau for Public Procurement for alternative bid through

selective tendering. This was considered and approval was granted to invite six out of the companies that bidded initially along with Bonny Channel Company (BCC) and a new joint venture to be formed for managing the Calabar Channel under the name Calabar Channel Management Limited (CCML). At the time of the presidential approval for the re-procurement of the dredging contract for the Calabar Channel, CCML had not yet been incorporated as a JV with NPA, but a proposal to that effect was under consideration. “The incorporation of CCML was necessary first to give it the required legal personality to enable it bid for the capital dredging of the Calabar Channel in line with presidential approval. It is expected that it would then proceed to handle the maintenance dredging when the capital dredging is completed. The proposed share structure of the JVC was to be 60 per cent for NPA 40 per cent for the consortium. It was at this stage that Niger Global Engineering Company Limited and its consortium hijacked the process. It signed a questionable Joint

Venture Agreement with NPA and went ahead to CCML at the Corporate Affairs Commission (CAC) altering the share structure arrangement.” “It was discovered that the Joint Venture Agreements curtained terms that were skewed and disadvantageous to the financial interest of the Nigerian Ports Authority (NPA) while some other parts extended the scope of work to include Ibaka Deep Sea Port in Akwa Ibom State, which was not within the Calabar Channel port.” Ezeh therefore submitted: “Having examined the letter ref. T.0160/s.107/IX of June 10, 2014 forwarded to His Excellency by the HMOT, I wish to observe as follows: · That the issue was presented to the President without any input from the Board of Directors of the Nigerian Ports Authority and the NPA had advised severally that any long-term maintenance contract should be after the capital dredging in line with the consultant’s opinion on the matter.

and international lawyers are following the developments closely. “That Nigeria is dangerously close to the brink of collapse today is a direct result of the first illegal arrest and detention of Mazi Nnamdi Kanu, arresting him again will plunge Nigeria into an unimaginable crisis.” Meanwhile, the northern elders meeting in Makurdi

said their special intervention committee was set up to study issues bothering the region and make recommendations on their solution. Wali, who spoke on behalf of the group during their visit to the Benue State governor, said, “Any issue that threatens the peace and unity of the north of Nigeria is our primary concern. Currently, our major concern is the

herdsmen/farmers crisis.” He called for the federal government’s intervention so as to settle the issues and douse all tensions. Wali suggested a uniform policy on grazing and ranching of cattle as part of efforts to address the clashes between farmers and herders, which has led to many deaths and destructions in the North and other parts of the country.

see concluding part on www.thisdaylive.com

O H A N A E Z E : AG F B I AS E D , PA N D E R I N G TO A R E WA YO U T H S The bail conditions, which were criticised as very stringent, included that the IPOB leader should not be seen in a crowd of more than 10 people, he should not grant any interviews, and he must not hold rallies. But barely one month after Kanu’s bail, on June 6, some youth groups in northern Nigeria, under the aegis of Coalition of Northern Groups, met in Kaduna and issued what they called “Kaduna Declaration”, ordering all Igbos residing in the North to leave the region within three months. They also advised northerners in the South-east to leave the area. The groups, which said their action was based on the activities of IPOB, warned that as from October 1, which is also Nigeria’s National Day, they will commence “visible actions” to isolate Igbos from the region and treat them as unwanted foreigners. The security agencies maintained a loud silence over the meeting and declaration of the northern youths, which were widely condemned as seditious, fuelling widespread allegations of sectional bias. Though, the groups withdrew their so-called quit notice to Igbos on August 24, five days after Buhari’s return from medical leave in London, and after his terse national broadcast on August 21 in which he weighed in with some stern warnings on the activities of groups like IPOB, calling them “irresponsible elements”. He also said every Nigerian was free to live in any part of the country, in apparent disapproval of the anti-Igbo moves by the northern groups. Nonetheless, Malami approached the Federal High Court in Abuja last week to seek Kanu’s return to prison custody, saying he has flouted his bail conditions. But Ohanaeze condemned the move as discriminatory and against the oath of fairness to all, which the AGF had sworn. “I am amazed that the

distinguished attorney is prepared to contest the superiority of the provisions of the constitution on fundamental human rights of freedom of movement and freedom of association over an erroneous judicial proclamation violating those rights. I am equally miffed by the audacity with which the Attorney-General displays his bias without regard to his oath of office,” Nwodo stated. Referring to Buhari’s broadcast and the activities of the northern youths, the Ohanaeze leader said, “A few hours ago under the watchful eyes of the chairman of the Northern governors forum and in total defiance of the Head of State’s proclamation of the rights of a citizen of Nigeria to live anywhere in Nigeria and to do business anywhere in Nigeria, the Arewa youths, pretending to withdraw their quit notice, gave qualifications to the Head of State’s proclamation, issuing conditions for enjoyment of citizenship status “These same Arewa youths are supposed to have been arrested on the orders of the governor of Kaduna State and the Inspector General of Police for acts of treason, conversion and sedition. As the chief law officer of the federation, the Attorney-General looks the other way. He does not go to court to seek an order of arrest or prosecution.” Nwodo said though he disagreed with some of Kanu’s views, “Nnamdi, as a citizen of Nigeria, is free to hold any point of view, no matter how displeasing to anyone, so long as they are not inciting or provoking any criminal activities. “I and some Igbo leaders have differences of opinion with Nnamdi on a number of issues. We have been insulted and abused by Radio Biafra, but we concede them their right to differ from us. We concede them their nature to be exuberant as youths, but we cannot be judgmental about their rights. “This is a democracy. In

democracies, leaders are abused, pelted with rotten eggs and booed at, as the former Edo State Governor was booed in Abuja a few days ago. These acts are not necessarily criminal. “I urge the Attorney-General not to exacerbate our already tense nation by commencing a legal action which portrays him as biased, insensitive and misdirected.” Reacting to the attempt to re-arrest Kanu, in a statement by its media and publicity secretary, Mr Emma Powerful, IPOB said, “This dangerous path of intimidation smacks of state sponsored terrorism designed to silence free speech and infringe on our rights to peaceful assembly. Merely asserting that Mazi Nnamdi Kanu is a threat to the Nigerian government is not a crime unless accompanied by legally definable crime or offence.” The group, which had threatened to enforce a total boycott of the November 18 governorship election in the South-east state of Anambra, said, “Should Justice Binta Nyako choose to listen to Buhari and revoke the bail application granted to our leader, Mazi Nnamdi Kanu, during his appearance on the 17th of October 2017, IPOB will ensure 100 per cent compliance with the Anambra elections boycott order." IPOB alleged that Kanu’s bail conditions had been deliberately designed to ensure his continued detention. It said, “As soon as the illegal, unconstitutionally draconian conditions of the bail were spelt out by Justice Binta Nyako, we knew such a day would come when they will use the cover of broken bail condition to launch an attack. “The federal government must also state where it is written in the 1999 Constitution that being in a crowd of more than 10 people, calling for election boycott, and attending rallies is a crime. Our teams of local

D E S P I T E R I F T OV E R E C O WAS , N I G E R I A , M O R O C C O TA K I N G ST E P S TO ACT UA L I S E C OASTA L GAS P I P E L I N E P R O J E CT admission of the North African country into the regional group and its subtly mounting pressure on member states to ensure that the request is turned down. Former senior Nigerian diplomats and civil society organisations (CSOs) have warned Nigeria about the threat to its influence in ECOWAS should Morocco’s membership request be granted, and have therefore called on Nigeria to oppose the admission of the North African nation. The ECOWAS bid by Morocco, which is a member of the Arab Maghreb Union, is also seen as capable of whittling down Nigeria’s influence in the world – an influence substantially derived from its dominant position in the West African region. Despite this brewing diplomatic tension, the Coastal Gas Pipeline project is of great importance to both countries, with reports noting the tacit priority placed on the project by the federal government even to the detriment of the $12 billion Trans Sahara gas pipeline, which from its conception would take gas from Nigeria to Algeria and then Spain. The Trans Saharan pipeline was planned to start from Warri and run up north through Niger to Hassi R'Mel in Algeria, from where it will connect to the existing Trans-Mediterranean, Maghreb-Europe, Medgaz and

Galsi pipelines. The length of the pipeline would be about 4,128 kilometres (2,565 mi), of which 1,037 kilometres (644 mi) will run through Nigeria, 841 kilometres (523 mi) in Niger, and 2,310 kilometres (1,440 mi) in Algeria. Unlike the Coastal Gas Pipeline which will go along the West African coast from Nigeria all the way to Morocco and then into Europe, the Trans Saharan Gas Pipeline project is faced with some challenges because as designed, the project, which is a surface pipeline network, would pass through restive areas in the Niger Delta all the way up, through some states in the North-west, then to Niger and Algeria. It is thus seen as having more risks. Sources close to the new coastal pipeline project informed THISDAY that Morocco was quite determined to get Nigeria to ditch the Trans Sahara gas line and concentrate on the coastal line because of its diplomatic differences with Algeria. Relations between the two North African countries have been dominated by rifts, including the lingering issue of Western Sahara. It was gathered that this development could set off fresh diplomatic spat between Morocco and its neighbour, Algeria. Sources explained that Morocco had expressed its desire to have Nigeria play down its commitment to the

Trans Sahara line, and accord the new coastal gas line top priority. Based on this, the sources explained that Morocco had also made available its share of the funds needed to undertake the feasibility studies as well as continued its supply of urea phosphate to Nigeria for fertiliser blending. When contacted for clarification on this, the Group General Manager Public Affairs of the NNPC, Mr. Ndu Ughamadu, confirmed to THISDAY the commencement of the feasibility studies on the coastal gas line. He, however, stated that it was a federal government project, and that he could not confirm the cost of the studies. Ughamadu, also noted that the project would not affect the execution of the $12 billion Trans Sahara gas pipeline. At a recent meeting with the National Coordinator of the New Partnership for African Development (NEPAD-Nigeria), Ms. Gloria Akobundu, NNPC’s Group Managing Director, Dr. Maikanti Baru, reaffirmed the commitment of the corporation to the $12 billion Trans Saharan gas pipeline. Baru disclosed at the meeting that Morocco’s supply of phosphate to Nigeria to rejuvenate her agriculture sector with the availability of affordable fertiliser was yielding results and had created up to 50,000 jobs.

AUGUST 27, 2017 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

SUNDAY COMMENT

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

FAIL JAMB, GET UNIVERSITY ADMISSION! The Joint Admissions and Matriculation Board has got its sums badly wrong. The nation will pay dearly for the mistake if allowed to stand

e stand with the founder of Afe Babalola University Ado Ekiti, Chief Afe Babalola, SAN, that the reduction of the cut-off mark to 30 per cent for admission into universities and 25 percent for polytechnics, monotechnics and colleges of education for the 2017/2018 academic session in Nigeria is unacceptable. Any environment within which such a policy can be conceived and rationalised as the Joint Admissions and Matriculation Board (JAMB) authorities are doing is in dire need of total overhaul. JAMB had last Tuesday announced the reduction of cut-off marks for candidates seeking admission into Nigerian universities to 120 and 100 for polytechnics and colleges of education in the country. But Babalola has raised several posers: “What is the whole essence of reducing cut-off marks for admission to as low as 120 for universities and 100 for polytechnics, monotechnics and colleges of education? Will such an action enhance or reduce the quality of education? Will it give international recognition to the degrees awarded by the Nigerian universities which, in any case, are already being questioned? Is the reduction a deliberate ploy to make things worse?” There are even more pertinent questions. Against the background that the standards of tertiary education in Nigeria are already abysmally low, why should they be further lowered? What will then happen when the 30 percent entry point graduates enter the labour market? It is a shame that at a time we should be raising the entry level in order to raise standards, the authorities in the sector are bent on imposing mediocrity on the country while further lowering the reputation of Nigerian certificates in foreign universities. It is all the more unfortunate that this is coming at a period countries like India, Japan, China,

It is a shame that at a time we should be raising the entry level in order to raise standards, the authorities in the sector are bent on imposing mediocrity on the country while further lowering the reputation of Nigerian certificates in foreign universities

Singapore, the UnitedKingdom, the United States, Ghana and South Africa, etc., are consciously raising admission requirements to retain competitive edge.

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

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

owever, with critical stakeholders in the education project already kicking against the idea, we hope sanity will prevail, especially when the Academic Staff Union of Universities (ASUU) argues that this is part of the plot by the current administration to destroy public education in Nigeria. “Scoring 120 out of 400 marks is 30 percent. Even in those days, 40 per cent was graded as pass. JAMB has now said with F9, which is scoring 30 per cent, you can be admitted. Even for polytechnics, a mark of 100 is 25 percent. They want to destroy public education at all cost,” said Dr Deji Omole, the ASUU Chairman, University of Ibadan. Today, no Nigerian university is ranked; and that is only half the story. Many of the graduates are barely literate. Many ofthe functionally literate ones are uncreative and unproductive. The corporate labour market shuns them. Therefore, the Minister of Education and the Registrar of JAMB, a body that has outlived its usefulness, should be summoned by the National Assembly to explain the rationale behind this curious policy twist. While serious nations are seeing higher education standards as part of the heated contest for development and leading edge in every discipline, Nigerian authorities are doing the contrary. With a policy that prescribes 30 percent cut off mark for admission into Nigerian Universities, the authorities are merely compounding the problem for these institutions. For instance, in 2011, the United Kingdom General Medical Council (GMC) banned medical graduates from nine universities in Nigeria from obtaining licences to practice in their country because they no longer met the required standards to practice. What this policy will do is to give justification as to why degrees from Nigeria are of low standards. As we have often argued on this page, granting autonomy to universities and other institutions of higher learning in our country is imperative. And it must begin with their powers to be able to admit the best, not the worst as now being prescribed. But to the extent that JAMB has proved to be a clog in that respect, we see no reason why the body should be allowed to continue to make mockery of tertiary education in Nigeria.

SUNDAY PHOTO

R-L: Star of Banana Island Ghost, Akah Nnadi; Head of Corporate Services, Nigerian Stock Exchange, Pai Gamde; Executive Producer, Banana Island Ghost, Micheal Ugwu; Executive Producer, Banana Island Ghost, Biola Alabi; CEO of NSE, Oscar Onyema; and Chief Risk Officer,Tunji Kareem, at the beating of the closing gong by Banana Island Ghost team at NSE on Friday

T H I S D AY SUNDAY AUGUST 27, 2017

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ UGUST 27,2017

SUNDAYNEWS

News Editor ÌÓ×ÌÙÖË ÕÙÝÓÖÏ E-mail: ËÌÓ×ÌÙÖË˛ËÕÙÝÓÖÏ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×˜ ͸΀͸ͺͻ͹͹Ϳ;ͻ΁ ̙Ý×Ý ÙØÖã̚

VISITING THE ANNEX L-R: Chairman, Asue Ighodalo; Executive Director, Corporate & Investment Banking, Kayode Lawal; Executive Director, Commercial and Institutional Banking, Lanre Adesanya; Managing Director/CEO, Yemi Adeola; and Executive Director, Operations and Services, Yemi Odubiyi, all of Sterling Bank, during the visit of the bank’s directors to the new Head Office annex at Ilupeju, Lagos...recently

APC Leadership, Governors to Meet Buhari over Convention t Why presidency hosted PDP Onyebuchi Ezigbo ÓØ ÌßÔË

The National Working Committee of the All Progressives Congress (APC) and governors elected on the party’s platform will hold a crucial meeting with President Muhammadu Buhari to decide when the long-delayed national convention will be held. THISDAY gathered that the meeting with President Buhari, which is to take place immediately after the Sallah festivities in early September, will also have the APC’s National Assembly caucus in attendance. The non-elective convention is considered very significant because it will be first time the ruling party will be holding at the highest level since it took over power from PDP. A source from the presidency, who informed THISDAY about the planned meeting, said the APC leaders has sought for a discussion

with the president shortly after his return from medical leave in the United Kingdom but that President Buhari thought it would better to first receive them along with the opposition People’s Democratic Party (PDP). He said APC’s meeting with President Buhari was however rescheduled to hold after the Muslim festival. The source also revealed that the APC-PDP parley with Buhari was actually at the instance of the President’s handlers, who reasoned that it would help in dousing growing tension in the land. “The Presidency considered the reverberations from President Bukhara’s national broadcast and thought that bringing both political parties to meet the President together will send the right signal that the nation is united,” he said. At the meeting President Buhari sought to reach out to

the main opposition party and to seek its understanding on the tough situation the country is in. Regarding the APC’s move to hold consultations with the president on the way forward for party, the source said the leaders believed that Bukhara’s presence was needed at the national convention and so now that he is back, the process can begin. THISDAY learnt that the quick recovery of the PDP from its crisis and its ability to move on and organise what was regarded as a very successful convention put considerable pressure on the ruling party. Most of the key players in APC are increasingly getting worried that if nothing is done to rally its members though convening of the National Executive Committee meeting and national convention, the PDP may gain an upper hand. Before Buhari’s return last week, APC governors had

met with Acting President Yemi Osinbajo along with the National Chairman of the party, Chief John Odigie Oyegun to ask for his opinion on the plan to hold a national convention but he was said to have referred them back to President Buhari. Although the party gave reasons of poor funding and logistic issues as the excuse for the continued delay in convening the convention, a reliable source within the leadership has confessed that the actual reason was the absence of President Buhari. Osinbajo was said to have declined the suggestion to stand-in for Buhari so that the party can proceed with processes for the convention. However, THISDAY gathered that the excuse over poor finance is no longer seen as tenable as governors elected on the APC platform had pledged to engage with the national leadership to provide funding for the convention.

How Peace Airline Boss Persuaded Arewa Youths to Revoke Quit Notice t Sources say talks underway with IPOB leadership AbimbolaAkosileËØÎ AnayoOkolie

Details have emerged on how the chairman of Peace Airlines, Barrister Allen Onyema, brokered a peace deal with the Coalition of Northern Youths (CNY), paving the way for the withdrawal, last Thursday, of the notice on Igbos to leave the 19 northern states by October 1. This comes amidst indications that Onyema is brokering another peace deal with leadership of the Indigenous People of Biafra (IPOB) that may see the group stop agitating for the creation of a separate Biafran nation. THISDAY gathered that, shortly after CNY handed a three-month ultimatum for Igbo residing in the 19 northern states to quit, Onyema reached out to Mohammed Danjuma,

leader of Arewa Transformation and Empowerment Initiative (ATEI), to open discussions with CNY on how to withdraw the notice. Agreeing to work together, it was gathered, Onyema’s nongovernmental organisation (NGO) Foundation for Ethnic Harmony in Nigeria (FEHN) and Mohammed’s Arewa Transformation and Empowerment Initiative (ATEI), resolved to pursue the peace agenda under the auspices of New Nigeria Project (NNP). FEHN had reportedly successfully brokered the peace deal between the federal government and Niger Delta militants at the outset of the current administration. One leader of CNY, which vacated the quit order told THISDAY on the condition

of anonymity that following several telephone conversations CNY leaders agreed to meet with Onyema and Danjuma in Abuja. According to the source, the first meeting held on Monday July 17 at the Newton Park hotel, Abuja, with over 50 participants including CNY leaders led by spokesman Abdulazeez Suleiman in attendance. He added that representatives of IPOB, National Youth Council of Nigeria (NYCN), National Association of Nigerian Students (NANS), as well as those of Christian Association of Nigeria (CAN) were present. “We met for several hours. Chief Allen Onyema and Alhaji Danjuma Mohammed addressed us. It was a very warm meeting that served as an eye-opener on the need for

peaceful co-existence. “Several other persons from our end, NYCN, NANS, CAN, and IPOB spoke and laid their cards on the table. It was after that meeting that we agreed to rescind the order, even though the information was communicated after a chain of successive meetings,” he offered. “We were particularly impressed with the patriotism of Chief Onyema who, obviously a private businessman, committed tremendous time, human and material resources to making the meeting a huge success. “His decision to singlehandedly fly all participants at the meeting free of cost, and the offer to train over 50 members of ours in the United States, was one gesture which we at CNY could not but take notice. His kindness contributed over 90 per cent to our resolve to revoke the order,” he disclosed.

Banana Island Ghost Movie Beats Closing Gong at Nigerian Stock Exchange Top grossing movie and cinema blockbuster, Banana Island Ghost beat the Closing Gong at the Nigerian Stock Exchange in Lagos yesterday. In recognition of the movie’s excellence and success in cinemas nationwide, the NSE, after a screening of the movie, invited Banana Island Ghost to beat the closing gong to highlight its remarkable production quality and marketing success so far. The NSE is one of the most developed stock exchanges in Africa and offers a range of instruments for investors in equities, bonds and derivatives market. With about 176 companies listed, the NSE has a market capitalisation of $44 billion and market capitalisation over GDP ratio of 8.83%. Banana Island Ghost joins a notable list of leaders, who have had the honour of beating the closing gong at the NSE. Banana Island Ghost has recorded significant success over the last three weeks of showing in the cinemas, even amidst stiff competition of local and

international productions also showing in the cinemas. At the beating of the gong ceremony, Executive Producer B.I.G., Biola Alabi said, “This is such a huge honour to me and everyone who worked on this project. What we have achieved so far is a testament of possibilities that abound in Nigeria’s movie and media industry. We will continue to work hard to make our investors happy and encouraged to support our upcoming projects.” Indications are rife that Banana Island Ghost will continue to sellout cinema screens and remain number one all through the Sallah holiday in August and well into September. This is expected even as B.I.G. just unveiled its Sallah giveaway promo that will see cinema goers win fantastic gift items for the upcoming holiday. More information about the Sallah Giveaway is available on social media by following @ Banana Island Ghost on Instagram.

Bayelsa Students Associations Apologise to Sen. Murray-Bruce The leadership of the student associations from Nembe, Brass and Ogbia in Bayelsa State have tendered an unreserved apology to Senator Ben Murray-Bruce, following comments and allegations levelled by the associations against the national lawmaker. The apology was contained in a statement titled ‘An Unreserved Apology to Distinguished Senator Ben MurrayBruce’, which was jointly signed by Comrade Samuel Rinah Tari (National Presidents of all Nembe Students); Comrade Ambrose Joseph (National Presidents of all Brass Students), and Comrade Mark John (National Presidents of all Ogbia Students). According to the student groups, “We sincerely apologize for the comments we made regarding Distinguished Senator Ben Murray-Bruce. We did not have our facts correct when we made the statement we did.

We relied on unverified hearsay which have since proved to be wrong and now that we have established the truth we which to state the following: “Senator Ben Murray-Bruce has visited his constituencies multiple times since his election. Senator Ben Murray-Bruce has contributed to the development of Bayelsa East over and beyond his constitutional requirements including influencing the Silverbird Group to invest in the area and employ natives of Bayelsa East, and Senator Ben Murray-Bruce is not an ‘Abuja based’ politician but a man who is intricately connected to his people. “We regret the inconveniences we have caused to Senator Ben Murray-Bruce and his constituents, friends and family and we hereby withdraw our earlier statements with its ultimatum and demands”, the students added.

T H I S D AY SUNDAY AUGUST 27, 2017

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž ÍşÍżËœ ÍşÍ¸ÍšÍż

SUNDAYNEWS Police Arrest Fake Delegates at Anambra APC Primary Poll t Delegates tip Andy Uba for victory, as PDP denies compromise ahead of Monday primary David-Chyddy Eleke in Akwa About 25 persons suspected to be fake delegates of the All Progressives Congress (APC) were arrested yesterday by the police at the venue of the Anambra gubernatorial primary election of the party in Awka. THISDAY gathered that 19 persons were attempting to gain

accreditation at the venue when they were detected by party officials, who alerted the police for their arrest. Six other persons were also later arrested at the venue for finding their way into the venue, even as they were not delegates. Our correspondent gathered that all 25 suspects were youths who were working for various

aspirants of the party as thugs, with the intention of disrupting the conduct of the election to favour their principals. A senior police officer, who spoke to THISDAY on condition of anonymity, confirmed this, saying that despite warnings by the state police commissioner, some aspirants had stubbornly secured the services of political

thugs. The state police commandâ€™s spokesperson, Mrs. Nkeiruka Nwode, could not confirm the arrest as her phone rang without any reply. As at the time of filling this report, voting for the primary election was yet to commence, but some party delegates who spoke to our correspondent fa-

KNOWLEDGE SHARING SESSION L-R: President, CFA Society Nigeria, Banji Fehintola; Chair, Programming Committee, CFA Society Nigeria, Kike Mesubi; Chief Executive Officer, InfraCredit, Chinua Azubike; and General Secretary, CFA Society Nigeria, Chuka Maduabum, at the CFA Society Knowledge Sharing Session in Lagos... recently

Appeal Court Judgement Has Confirmed Police, INEC Collusion in Election Rigging, Says Wike Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, has declared that the outcome of the litigation on the Rivers East Senatorial District Seat has confirmed the alarm he raised that the Independent National Electoral Commission (INEC) and police were in partnership to rig elections in the state. He also stated that the leadership of the All Progressives Congress (APC) only launches campaign of calumny against the Judiciary when they lose

cases, but applaud them each time they emerge victorious. Speaking during a stakeholders meeting with leaders of Okirika and Ogu-Bolo Local Government Areas at the Government House, Port Harcourt, yesterday, Wike said: â€œNow that we have lost, nobody is saying that the Judiciary is corrupt. They are not saying that the Judiciary is corrupt because they have won. â€œTomorrow if we win, they will say Judiciary is corrupt. Then they will send security operatives to arrest the judges.

Nobody will bother to go now and arrest the judges to find out what happenedâ€?. The governor expressed regret that when the Chief Justice of Nigeria visited the state to flag off the construction of the State Judges Quarters, the APC went to town, claiming that the PDP would procure all judgments at the courts. He noted: â€œBut now, you will not see them claiming that the judgment was procured. I urge you to continue to have confidence in the Judiciaryâ€?. Wike asserted that police

colluded with APC to tender concocted results at the tribunal, which were relied upon to sack Senator George Thompson Sekibo. He said: â€œRemember, last year, I raised an alarm that INEC and Police were planning to rig the rerun elections. We caught people printing INEC result sheets and reported the matter. Somebody was arrested. They sent the person to Zone 6 Calabar and granted him bail. Till now, they are yet to complete investigations into that critical matter.

Crisis in Imo over Forceful Relocation of Market, HURIWA Kicks t 12-year-old shot dead, eight persons injured, citizens react

Amby Uneze in Owerri The forceful relocation of Eke Ukwu market - popularly known as Eke Onunwa, the ancestral market of Owere indigenes - by the government of Imo State yesterday ignited crisis and confusion in the state, leading to the death of a 12-yearold boy. Over eight people were seriously injured in shooting by security agencies drafted to quell the crisis. Among those injured were a

youth leader of Owerri Municipality, Mr. Leonard Ebubeagu, and seven others who sustained bullet wounds; as the State Governor, Owelle Rochas Okorocha kept his promise of forcefully ejecting the people of Owere ancestral market and part of the popular Ama Hausa quarters also along the Douglas Road. The state government defended its action by stating that government took the action to recover Douglas Road that connects the state with other

neighbouring States, which, according to her, had remained a refuse dump for the traders in the market, and to deal once and for all, with the prevalent criminal activities in the area like robbery, cultism and kidnapping. However, prominent citizens of the State condemned the action. It was also gathered that the youths of Ohaji/Egbema local government, who were allegedly hired by the Deputy Chief of Staff (Operations), Engr. Kingsley Uju to thwart the re-

sistance of the youths of Owere from stopping the demolition of the market, had themselves allegedly looted the wares of the traders who could not remove their goods from their shops before the commencement of the demolition exercise. The governor had on Thursday issued a 24-hours quit order to the traders of Owere market popularly known as Ekeukwu Owere to vacate the market or risk their wares being destroyed alongside the market.

voured the candidacy of Senator Andy Uba. One of the delegates, who simply identified himself as Arinze said, â€œI think the powersthat-be in the party are not favourably disposed to Andy Uba picking the ticket, but the truth is that he has â€˜settledâ€™ every one of the delegates, and I think he will emerge by the time elections are declared.â€? Meanwhile, the Peoplesâ€™ Democratic Party (PDP) in Anambra State has denied allegation of compromise in Mondayâ€™s primary election of the party, saying that anyone peddling such rumour was merely playing politics. This is coming on the heels of allegations by some members of the party that the process has been compromised as the delegatesâ€™ list has been doctored to favour some aspirants. Caretaker chairman of the party in Anambra, Prof. ABC Nwosu, who briefed journalists on the plans of the party, said adequate arrangements have been made to ensure that the election is hitch free. He said, â€œWe are in detailed preparation for our primary which comes up on Monday. We have arranged two venues for ac-

creditation and voting. We have made adequate arrangement for security to ensure no breach of peace even though we donâ€™t anticipate there will be breach of peace.â€? Nwosu said the Chairman of the panel for the conduct of the primary, Governor Dave Umahi, was expected Saturday in the state with three of his members and the Zonal Chairman to hold a meeting with Caretaker Committee for a review of the arrangement for a transparent primary. He said arrangement for identification, accreditation and voting are being undertaken under cover to ensure there is no leakage and emergence of an acceptable candidate that will be pleasing to the people of the state. â€œThe process has so far been fair, and we are not anticipating any trouble. We have heard of several rumours of people being bought, but I want to assure you that it is not true. It is impossible. I am not saying it for anyone to agree or not, but I am saying it because I know that it cannot happen. I did not collect money from anybody to favour a particular candidate. I am a decent person and wouldnâ€™t want to stain my name,â€? Nwosu said.

Ladoja, Olubadan, Makinde Taunt Ajimobi, Say Obasâ€™ Coronation Diversionary Ademola Babalola in Ibadan As criticisms continue to trail Governor Abiola Ajimobiâ€™s move to install 32 new kings for Ibadan, the Oyo state capital today, a development largely seen as unprecedented, one of the newly appointed kings and former Governor of the state, Chief Rashidi Ladoja has described the gesture as â€˜a Greek gift, unsolicited and self-servingâ€™; one intended to distract the people of the state from the â€œmany misdeeds of the current administration.â€? Ladoja, who was the Osi Olubadan of Ibadan land before Friday eveningâ€™s elevation to the position of His Royal Majesty Oba Rashidi Ladoja told newsmen yesterday that the presentation of letters of conferment as kingship to some of the high chiefs and others numbering about 30, was the height of illegality and desecration of the stool of Olubadan of Ibadan land. Penultimate Friday, the committee on the review of the chieftaincy matters in

Ibadan had submitted its report to the Governor, who in turn vowed to implement same by as early as next month. Those who spoke against todayâ€™s coronation billed for the Mapo Hall Ibadan also included the Olubadan of Ibadan land, Oba Saliu Adetunji, who has again distanced himself from the move to install new kings. Another speaker was a frontline politician in the state, Mr. Seyi Makinde who pledged allegiance to the monarch when he paid a courtesy visit on him as he clocked another year on earth. Ladoja said, â€œWhat the governor is doing is to create distraction for the people in order to take their minds off the misdeed of his government. Since the issue of Olubadan came up, is anybody talking about poor education in the state, the closure of Ladoke Akintola University of Technology for two years, bad roads in the state or poor state of health?

Olowu to Speak at 13th Akwaaba

Ă’Ă? ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ëš Ëœ Ă‹ĂŒĂœĂ? Ă?ĂžĂĄĂ™ĂœĂ• Ëœ Ă?Ă?Ăž Ă?ĂœĂ“Ă?Ă‹Ëœ ĂœË› ĂŒĂ?Ă˜Ă‘Ă‹ Ă–Ă™ĂĄĂ™ Ă’Ă‹Ă? Ă?Ă™Ă˜Ă?Ă“ĂœĂ—Ă?ĂŽ Ă’Ă“Ă? ĂšĂ‹ĂœĂžĂ“Ă?Ă“ĂšĂ‹ĂžĂ“Ă™Ă˜ ĂžĂ™ Ă?ĂšĂ?Ă‹Ă• Ă‹Ăž ĂžĂ’Ă? Ă?Ă?Ă?Ă™Ă˜ĂŽ Ă?ĂŽĂ“ĂžĂ“Ă™Ă˜ Ă™Ă? Ă•ĂĄĂ‹Ă‹ĂŒĂ‹ ĂœĂ‹Ă Ă?Ă– Ă‹ĂœĂ•Ă?Ăž Ă Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă‹ĂŁ Ă?Ă?Ă’Ă?ĂŽĂ&#x;Ă–Ă?ĂŽ ĂžĂ™ Ă’Ă™Ă–ĂŽ Ă“Ă˜ Ă‹Ă‘Ă™Ă? Ă?ĂœĂ™Ă— Ă?ĂšĂžË› ÍŻÍŽĚ‹ÍŻÍ°Ë› Ă–Ă™ĂĄĂ™Ëœ ĂĄĂ’Ă™ Ă“Ă? Ă‹Ă–Ă?Ă™ ĂžĂ’Ă? ĂœĂ?Ă?Ă“ĂŽĂ?Ă˜Ăž Ă™Ă? Ă Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă&#x;Ă˜ĂŽ Ă‹ĂŒĂ–Ă? Ě™ Ěš Ă‹Ă˜ĂŽ ĂžĂ’Ă? Ă‘Ă&#x;Ă?Ă?Ăž Ă?ĂšĂ?Ă‹Ă•Ă?Ăœ Ă‹Ăž ĂžĂ’Ă? Ă?Ă Ă?Ă˜Ăž ĂĄĂ“Ă–Ă– ĂŒĂ? Ă?ĂšĂ?Ă‹Ă•Ă“Ă˜Ă‘ Ă™Ă˜ ĂžĂ’Ă? ĂžĂ™ĂšĂ“Ă?Ë? ËŤÍ°ÍŽÍŻÍ´Ë? Ă™Ă—Ă—Ă?ĂœĂ?Ă“Ă‹Ă– Ă Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă?Ă“ĂŽĂ?Ă˜Ăž ĂœĂ?Ă? Ă?Ă‹ĂœË› Ă’Ă‹Ăž Ă“ĂŽ Ă?ĂœĂ“Ă?Ă‹ Ă™ Ă“Ă‘Ă’ĂžËŹËœ Ă‹ ĂžĂ™ĂšĂ“Ă? ĂžĂ’Ă‹Ăž Ă“Ă? Ă‘Ă?ĂœĂ—Ă‹Ă˜Ă? ĂžĂ™ ĂžĂ’Ă? Ă?ĂœĂ“Ă?Ă‹Ă˜ Ă‹Ă Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă?Ă?ĂžĂ™ĂœË› Ă–Ă™ĂĄĂ™ Ă“Ă? Ă‹Ă˜ Ă?Ă™Ă˜Ă™Ă—Ă“Ă?Ăž Ă‹Ă˜ĂŽ Ă&#x;Ă?Ă“Ă˜Ă?Ă?Ă? ĂŽĂ—Ă“Ă˜Ă“Ă?ĂžĂœĂ‹ĂžĂ™Ăœ ĂĄĂ“ĂžĂ’ Ă&#x;Ă˜Ă“Ă˜ĂžĂ?ĂœĂœĂ&#x;ĂšĂžĂ?ĂŽ Ă?Ă™Ă‘Ă˜Ă‹ĂžĂ? Ă?Ă˘ĂšĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă?Ă?ĂžĂ™ĂœË› Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ĂžĂ™ Ëœ ËŤ Ă‹Ă?Ăž ĂŁĂ?Ă‹Ăœ Ă?Ă™Ă—Ă? ÍąË›Íś ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ ĂžĂœĂ‹Ă Ă?Ă–Ă?ĂœĂ? Ă?Ă–Ă?ĂĄ Ă?Ă‹Ă?Ă?Ă–ĂŁ Ă™Ă˜ Í˛ÍŽË›Í˛ Ă—Ă“Ă–Ă–Ă“Ă™Ă˜ Ă?Ă–Ă“Ă‘Ă’ĂžĂ?Ë› Ă’Ă? Ă˜Ă&#x;Ă—ĂŒĂ?Ăœ Ă™Ă? ĂžĂ™ĂžĂ‹Ă– Ă‹Ă?Ă?Ă“ĂŽĂ?Ă˜ĂžĂ?Ëœ Ă?Ă‹ĂžĂ‹Ă– Ă‹Ă?Ă?Ă“ĂŽĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ Ă?Ă‹ĂžĂ‹Ă–Ă“ĂžĂ“Ă?Ă? Ă‹Ă–Ă– ĂŽĂ?Ă?Ă–Ă“Ă˜Ă?ĂŽ Ă Ă?ĂœĂ?Ă&#x;Ă? ĂžĂ’Ă? Ă?Ă“Ă Ă?Ě‹ĂŁĂ?Ă‹Ăœ Ă‹Ă Ă?ĂœĂ‹Ă‘Ă?Ëœ Ă?Ă’Ă™ĂĄĂ“Ă˜Ă‘ ĂžĂ’Ă‹Ăž Ă‹Ă Ă“Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă?Ă? ĂžĂ™ ĂŒĂ?Ă?Ă™Ă—Ă? Ă?Ă‹Ă?Ă?ĂœË› Ă’Ă? Ă‘Ă™Ă™ĂŽ Ă˜Ă?ĂĄĂ? Ă“Ă? ĂžĂ’Ă‹Ăž Ă“Ă˜ Í°ÍŽÍŻÍ´ Ă?ĂœĂ“Ă?Ă‹ Ă’Ă‹ĂŽ Ă˜Ă™ Ă‹Ă“Ăœ Ă?ĂœĂ‹Ă?Ă’Ë› Ă’Ă“Ă? Ă“Ă? Ă‹Ă‘Ă‹Ă“Ă˜Ă?Ăž ĂžĂ’Ă? ĂŒĂ‹Ă?Ă•ĂŽĂœĂ™Ăš Ă™Ă? ĂŽĂ?Ă?Ă‹ĂŽĂ?Ă? Ă™Ă? ĂšĂœĂ™ĂŒĂ–Ă?Ă—Ă‹ĂžĂ“Ă? Ă?Ă‹Ă?Ă?ĂžĂŁ Ă–Ă?Ă Ă?Ă– Ă“Ă˜ Ă?ĂœĂ“Ă?Ă‹Ë›ËŹË›

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

NEWS Saro the Musical Premieres in

London, Gets Standing Ovation Funke Olaode in London

After thrilling Nigerian audiences through its electrifying stage theatre performance in Lagos and across the country, Nigerian entertainment industry got international boost this weekend in London, when it staged Nigeria’s Biggest Broadway Theater, ‘Saro the Musical,’ to the London audience at the Shaw Theatre, West End, London. Determined to revolutionise the Nigerian art and creative industry, frontline culture production company, Bolanle Austen-Peters Productions (BAP), in collaboration with the MTN Foundation brought London to a standstill with the stage play, which kicked off on Thursday August 24 and would run through Tuesday August 29. Led by three Nigerian renowned actors, Bimbo Manuel, Kunle Afolayan and Gideon Okeke, the highly anticipated award-winning Nigerian musical play premiered to a rapturous audience saw Lagos crowd and their Diaspora counterparts turned out in large number, donning various traditional attires to support one of their own.

Set in modern Lagos, ‘Saro’ is a celebration of migrants to the economic hub from other parts of Nigeria, with a focus on four talented young men who face a series of challenges as they chase better fortunes in the ‘city of dreams.’ Boasting over 70 cast performing on a one-of-its-kind custom-built stage, Saro traces and pays homage to Nigeria’s rich musical history by beautifully rendering some of the country’s greatest hits over the years, while it also delivered its own ingeniously composed original music. Dressed in lovely, colourful costumes that showcased the best of Nigerian fashion, the cast and crew provided a thrilling spectacle, giving life to the musical with well-choreographed dance steps and songs which incorporated a mesmerising fusion of African and Western sounds such as Afro-beat, Highlife, Juju, Apala, hip-hop and jazz. The show closed to a standing ovation and delighted calls for an encore. The play drew many notable Nigerians among whom were Chairperson, First Bank, Nigeria Plc., Mrs. Ibukun Awosika, Managing Director, Standard Chartered Bank,

Mrs. Bola Adesola, Managing Director, NLNG, Mr. Tony Attah, First Minister, Nigerian High Commission in London, Mrs. Olufolakemi Abudurasaq, directors, MTN Foundation, Mrs. Aishatu Sadauki and Hon. Reginald Chukwuemeka Okeya, Mr. Tobe Okigbo, Mrs. Yewande Zaccheaus, Mrs. Nimi Akinkugbe, Mrs. Ekua Abudu, Mr. Toyin Subair amongst others. For MTN, supporting the indigenous production is part of the Foundation’s strategy of facilitating the renaissance of Arts and Culture in Nigeria,

exporting local productions of international standards. The company said that was why it partnered Bolanle AustenPeters of BAP Productions and Terra Kulture to bring ‘Saro the musical’, a stage play to audience in the United Kingdom because it’s very rich in promoting Nigerian culture, music, and the arts. Basking in the euphoria of a successful outing, Corporate Relations Executive of MTN, Tobe Okigbo, said MTN as a Nigeria company was desirous of promoting Nigerian culture essentially. “If you look at what Saro,

Waka and Kakadu is doing to the Nigerian image internationally, it is impressive. If you look at acting and Nollywood generally in terms of its ingenuity, the strength, promoting Nigerian arts and culture positively is applauding. This is not about ‘Nigeria is the most corrupt country or insurgency.’ “Wakaa! The Musical was the first Nigerian musical to ever grace the stage of the major theatre district after thrilling Nigerians at home. This is saying ‘this is who we are and that beyond what you hear about the country, Nigeria is rich in

culture and this is what we are showcasing. As a Nigerian brand MTN is saying this is who we are,” Okigbo said Excited to break another new ground, the executive producer and director, ‘Saro, the Musical,’ Austen-Peters, expressed confidence that audiences in the UK, Nigeria and across the world would continue to enjoy a fantastic time. “Our experience clearly shows that Nigerian stories resonate. People want to see and hear tales about our beautiful culture. For a long time, our stories were told by others. Now, with productions like ‘Saro’, The Musical - written and produced by us and executed by a 70 member cast and crew; we are taking ownership and telling our own stories in a way that only we can.’

Ambode to Host EON Executives Abimbola Akosile Lagos State Governor, Akinwunmi Ambode, will between August 28 and 29 receive the executives of EON Reality Incorporated in Lagos as the global leader in virtual reality is set to collaborate with the state government to establish the second of its institution in Africa in Nigeria. The only one of such is located in South Africa. Lagos has been identified as potential host of IDC hub for West Africa region to ben-

efit from the EON’s $50 million investment. The technology is already shaping knowledge transfer in education, industry and edutainment and clearly essential to future of development across the world. According to a statement in Abuja at the weekend by Media Consultant to the project, Mr. Tony Olutomiwa, “the leadership of EON Reality Inc. headquartered in Irvine, California, USA would be visiting Nigeria from August 27 to September 1. The organisation will meet with the

Vice President, Professor Yemi Osinbajo on August 30 following the Lagos visit. “The EON’s official visit to Nigeria was based on WorldSkills Nigeria’s recent engagement in the global nomination process, presenting a strong case for Nigeria, which led EON Reality selecting the most valuable and responsive Governments in West Africa region to host and convest in EON IDC Hub. The outcome led to Nigeria being selected among the beneficiary countries in Africa, and as the subregional

hub for Virtual Reality and Augmented Reality (VR/AR) Technology based knowledge transfer in Education, Industry and Edutainment”. The release noted that 30 forward thinking governments, academic institutions, and corporations in France, South Africa, China, United Kingdom, United States, India, Singapore, and other locations have already joined the EON Human 2.0 initiative that targets to empower 3.8 billion people to grow beyond current human constraints.

Ͱ͵˜ Ͱͮ͹Ϳ ˾ THISDAY, THE SUNDAY NEWSPAPER

OPINION The Return of The Diaspora King Oludayo Tade writes that the country expects more from their president

rom Nigeria House in the United Kingdom to ‘Home office’ in Abuja, President Muhammadu Buhari (PMB) returned after 104 days in the diaspora. Even those afflicted with socio-economic quagmire were mobilised to the streets to welcome the Daura born ‘Messiah’. Sai Baba who was described by his media aide, Femi Adesina as ‘king’ in a piece he wrote after he returned from UK attests to the royal treatment coupled with several homage visitations to PMB by state officials who utilised tax payers’ money for their visitations. Kudos must go to all (Ayodele Fayose, the Mumudondo group and the protesters in London) those who deviated from the norm of culturalising/spiritualising the ill-health of the president. At his return, so much was expected but the opening did not show that the president brought back any lessons from his health tourism. Buhari and those sympathetic to him should know that several Nigerians have died of the same health condition that made the president find solace in the UK owing to his refusal to replicate what he enjoyed in the UK at home. The president has broken his promise to stop health tourism by leading health tourists outside the country while our health system begs for attention. This pathetic situation was not even touched in that watery presidential address which implicates disconnection of the ‘king’ to social realities. Next time Nigerians should beware of a naked man offering them a shirt. Since being in the diaspora is associated with abundance, ‘the return’ of the ‘king’ ought to feature unpacking the luggage of goods bought for sharing to the expectant men and women. When a responsible father or mother has been away from home, the children anticipate the ‘significant’ return because of the succour it brings to their livelihood. On the flip side, children pray for delayed return of a parent whose presence threatens their survival or brings no such thing as hope. The ‘weak animals’ had thought that the return of the ‘Lion King’ will not only send the Hyenas and Jackals away but rekindle hope and better their conditions. However, nothing came to them other than threats that they have no right to discuss what affects them. His position was predicated on a discussion he had with a late warlord (Emeka Ojukwu) that Nigeria must remain one and united but is it without satisfying the yearnings of those living? What moral ground does the ‘king’ who has failed to grow the economy, ‘settle’ the army of unemployed, and check kidnapping and terrorism but govern on comatose education (which is why ASUU is on strike) and health systems

ask the people to shut up?. The dead cannot discuss for the living their terms and conditions for staying together. The king ought to know that the kingdom’s existence is threatened with an implosion and the emergence of insurgent citizenships. Only the people, not the saggy legislators or Sai Baba group in the FEC can discuss what the common man suffers since they never have such experience. Using the marriage analogy may be useful because divorce is on the rise in the country too. All the trappings (infidelity, mistrust, misunderstanding, financial problems, adultery, infidelity, lack of care, denial of sex) birthing and turning holy to unholy matrimony characterised contemporary experiences in Nigeria. Infidelity which is cheating characterised modern agitations. People feel the execution of the contract in the unity of Nigeria is biased in favour of certain ethnic group. Irresponsibility, another factor that makes divorce possible needs to elucidation as it is apparent that the leadership of the country has been irresponsible and irresponsive to the needs of her peoples. Denial (of sex) remains a fertile tool for divorce. Till date, the ‘king’ denies the need to engage the people. He believes only him and a few ‘class mates’ must dictate the path to follow. Denial of rights (security of lives and properties, freedom of association, freedom of speech, subversion of rule of law, inequality before the law) constitute unpleasant daily experiences of Nigerians. Although love is claimed to bring two persons together in a holy matrimony, marriage is however an eye opener where people stop acting and negotiate on a daily basis

Buhari and those sympathetic to him should know that several Nigerians have died of the same health condition that made the president find solace in the UK owing to his refusal to replicate what he enjoyed in the UK at home

conditions of living together. Domestic violence is a common factor for marital breakdown and dissolution. When the husband violates the wife constantly and we plead with her to stay because of her children, when she dies owing to the same factor, the children become internally displaced with an uncertain future. This is why the rational women or men experiencing violence in their relationships opt for separation or divorce. We are all experiencing violence which is threatening our collective existence with no action taken by the ruling ‘king’. In the address he (Buhari) said “This is not to deny that there are legitimate concerns. Every group has a grievance. But the beauty and attraction of a federation is that it allows different groups to air their grievances and work out a mode of co-existence”. Why will you then not allow people to negotiate their collective living when herdsmen attacks threaten our food security? They have killed several people but the kings’ noble men have framed them as ‘outsiders’ yet they allowed ‘soft targets or weaker animals’ to be killed. And they are expected to continue without asking questions? I say such relationship “Kolewerk” (It cannot work) as ‘ourmumudondo’ to use Charley Boy’s group name. Nigerians have not crossed any red line yet in their show of discontent with current happenings. Nigerians want their future to be greater than today no matter what they are facing at the moment. They want the converted democrat they voted for and not an autocrat who does not listen. They want a king whose eyes are not blind to the cries of the people and whose ears are not deaf to their agitations. Had Vice-President Yemi Osinbajo not gone to negotiate the unity of Nigeria with those bombing oil installations, would we have anything left for the ‘king’ to preside over? Nigerians are experiencing varying internal displacement and wants empathy from PMB to chart a desirable future. Funny enough, rodents invaded the palace of our ‘king’ before his return and now the ‘king’ is internally displaced to the ‘inner chambers’ to attend to kingdom’s affairs. If rodents will take three months to chase away, then weaker animals should wait even longer because the Messiah is praying for restoration. But let the ‘king’ know that only those agitating wants the country together while those in his cabinet opposing it are the enemies of unity (Micah 7:6). ––Dr Tade, a criminologist, wrote in via dotad2003@ yahoo.com.

As Yoruba Convoke in Ibadan It is time to restructure Nigeria, writes Folu Olamiti

ne of the most debated issues in the Nigerian public space at the moment is the clamour for the political restructuring of the country. It has now become a singsong across the length and breadth of the country. But the debate has attracted diverse views and demands such that there appears to be no clearly defined understanding among Nigerians on what restructuring means and whether it will move the nation forward or disintegrate it. Among the various views and demands anchored on restructuring is the agitation by some people for a return to regionalism as in the first republic arrangement of the federation. Others say what is needed is the devolution of some of the powers and roles of the federal government to the states, to shed the current unitary-like political structure and return to the practice of true federalism. Yet, for some, it is about a restructuring that would allow communities greater control over the resources in their domains. The issue has been further complicated by the rise of separatist groups agitating for a reconfiguration that will allow the breakaway of any part of the country desiring to do so, to chart its own destiny. Against this background and the resultant mounting tension in the land, a policy advocacy group known as the Yoruba Leadership and Peace Initiative (YLPI), organised a non partisan retreat of Yoruba leaders from the South-West region of the country in Ibadan on Thursday, June 29 at the Lead City University Conference Centre to brainstorm on the issue and proffer the way forward for the nation. Tagged the Yoruba Unity Retreat, the forum was attended by distinguished and experienced statesmen, leaders of thought and eminent professionals from the South-West. At the retreat, the state of the nation address of the group delivered by its convener, Otunba Deji Osibogun, gave an insightful background to the deliberations. In the address, he noted that the struggle for restructuring had come a long way, from the days when Nigerians wrangled over how to convene a national dialogue on it, whether sovereign or non sovereign conference, to the actual bold steps taken by the Obasanjo as well as Jonathan administrations to bring the people together to dialogue and fashion the way forward. He noted that the 2014 National Conference convened by Jonathan was a major breakthrough in the struggle as it was in that conference that participants representing various ethnic nationalities, groups and institutions, agreed on the major outcomes expected from the proposed restructuring. Among the agreed expectations are the return of the nation to the practice of true federalism with the states as federating units and

the concomitant devolution of powers, roles and resources from the centre accordingly. Otunba Osibogun therefore called for the implementation of the 2014 National Conference recommendations before the next general elections in 2019. After a serious brainstorming session by participants, a communique was issued on the resolutions and decisions of the retreat. The communique affirmed the unity of the Yoruba people in the South-West states namely Oyo, Ogun, Lagos, Osun, Ondo and Ekiti as well as Kogi, Kwara, Edo and Delta States and pledged the commitment of the Yoruba Leadership and Peace Initiative and the Yoruba race in general to the unity and continued territorial integrity of Nigeria. The communique, however, strongly stated that the Yoruba people insist that in view of the economic and political challenges facing the Nigerian nation, the political restructuring of the nation had become imperative and overdue, requiring a return to the practice of true federalism, devolution of power, more resources to states and local governments with a view to maximising the advantages of each constituent unit of the federation. It is significant that the position adopted by Yoruba leaders at the retreat has become the popular stance of numerous leaders and groups across the country including the Afenifere from the South-West, Ohanaeze Ndigbo leaders from the South-East, leaders from the South-South as well as the Southern Leaders Forum and also the Southern and Middle Belt Forum. Although the whole of the north is yet to take a formal position as it awaits the report of an advisory committee, some of its notable leaders such as former President Ibrahim Babangida and former Vice President Abubakar Atiku have strongly endorsed restructuring. In fact, Atiku insists that not only is restructuring necessary, it is feasible and some aspects of it such as the devolution of some roles and responsibilities of the federal government to the state governments can be achieved without constitutional amendments. From all indications, a national consensus already points to the necessity for a political restructuring of the country and it appears that the easiest way to go about it is to implement the recommendations of the 2014 National Conference. But as of now, that option is still elusive given the reluctance or cautious approach of the present Buhari administration to the issue. Another setback is the rejection of devolution of power by the upper chamber of the national assembly while voting recently on constitutional amendments. It is not yet clear whether the committee set up by the ruling All Progressives Congress on restructuring will be able to

recognise the demand as a very serious concern of the people of Nigeria at the m oment and therefore convince the administration to address it accordingly. What is however clear is that the struggle for restructuring can no longer be wished away, nor suppressed nor ignored. The earlier it was addressed, the better. Ahead of the proposed restructuring, Yoruba leaders, in the communique released, also urged the states of the federation to realise that for the devolution of power and resources to translate to positive change in the lives of the people, state governors must invent new initiatives of providing better governance, management of resources and service delivery. In this regard, the leaders urged the governors of the South-West states to set up think-tanks and develop achievable programmes tailored to the developmental needs of their states while also integrating with their counterparts within the region to effectively address matters of common interest and concern. The governors of the South-West states were also advised to begin to harness the various potential of their states, especially in agriculture, including reviving the Awolowo - era Farm Settlements, to boost food and cash crop production towards achieving food sufficiency, sustainable foreign earnings from cash crop produce and mass employment opportunities for the youths. It will be recalled that agriculture was once the major sustainer of the economy of the region during the first republic. As of today, agriculture is still a major sustainer of the economies of many countries, including the United States despite its technological advancement. For example, Ohio state in the United States accounts for a large volume of trade between the country and China with a single crop soybeans, which it exports in millions of tonnes to the hugely populated Asian country for the production of animal feed. It is the belief of the Yoruba Leadership and Peace Initiative that the South-West states do not need to depend on federal allocations for their sustenance. For instance, they can develop their vast agricultural potential such as cocoa, rice, cassava and even yam (which is used to produce pharmaceutical starch) as well as natural and other resources to sustainably develop their states. In actual fact , no part of the country is poor. Every part has various agricultural, natural and other potential that can be exploited to sustain its development. The practice of true federalism empowers the federating states to harness these resources and apply them to the areas of need which may vary from state to state. This is what the nation needs now. ––Olamiti, Media Consultant, wrote from Abuja

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27,2017

LETTERS An Open Letter to President Buhari

elcome back! We are all relieved to see that you looked better than the last time you returned. Nigerians believe God is working in your life and for a purpose. Of course, many of us may interpret that purpose differently, but I think we are all united in believing that whatever the purpose, it can only be good for you and our country. I urge you to think deeply about yourself as a human being, your feelings for our nation, your love for the people and your belief in its great future. If you reflect on these deeply enough, I think you will reach the same conclusions I have reached about your leadership of the country and what you should do next. You are a man who has set a worthy paradigm; no matter what some of us who oppose your government say, you have made history. Being the man who spearheaded the removal of a sitting democratic government through a democratic election the first time in our history is a huge achievement that can never be overemphasised because, if anything, it opened up the country to further positive developments in terms of governance. The fact that Nigerians are beginning to feel confident about the idea that a failed and failing

Buhari

government can be successfully removed via the ballot box without any shedding of blood means that democracy has taken another giant step in its growth and development in Nigeria. You helped open that door of possibilities and so, thank you, Mr President. But now is the hard part. The governance. Even the most ardent of your supporters, if they’re sincere, will tell you that your government’s achievements have been seriously underwhelming. This is because your government has failed so far to deliver on the promise of your election

and we are way over the halfway mark in your mandate period of four years. That is why what I want to suggest to you now is important. I am making this suggestion because I believe the failure of the government is directly linked to you as a person, not because you deliberately want to fail, but because you are not physically and intellectually in a position to deliver on the promise of your election. What do I mean? You did warn us about your age and how we should not expect miracles. We accept that. But we expect more than you have given so far. Of course,

if you had the right people in government, people who know how to support you and get the best out of you as a leader, people who aren’t just focused on politics at the expense of good public policy, things would have been different. Unfortunately, those you have around you now are mostly the typical uninspiring politicians and political appointees only interested in themselves and what is in it for them. They all rode on your coat tail to power, but they don’t have the foggiest idea what to do with that power for the benefit of the people. The way I honestly see it, the problem is principally your failing health. If not for that, I have no doubt that you would have revamped your administration and purposed it to deliver on your electoral promises. However, when a man has to contend with what you have had to contend with heath-wise in the past two years, every other thing, including governance, becomes secondary and necessarily so. The Almighty has now given you another chance. I know you are hearing all the hoopla, celebrations and the deafening lionisation going on, all of which I believe is genuine and heartfelt because it’s a great thing God has done to return you to your people. But I don’t think God has given you this fresh chance

TACKLING THE MENACE OF UNEMPLOYMENT

he persistent quest for white collar jobs has turned the minds of many graduates away from embarking on entrepreneurial ventures which are capable of transforming them into employers of labour instead of job seekers. Everyone wants to sit in an office well furnished with air conditioners, and giving out commands. But sadly, the government cannot possibly provide the whole number of employable youths in the country with job opportunities. Not even now when mediocrity has taken the place of meritocracy as basis for employment. It is now a question of who you know rather than what you know. The issue of unemployment has become a source of great worry. On the streets each day, you find a significant number of employable youths, many of whom have spent a number of years in the university all in the bid to acquire education. After graduation, there are no jobs to show for the years spent. According to a report by Quartz Africa, Nigerian tertiary institutions produce as many as 500,000 graduates every year, many of whom throng the labour market in search of white collar jobs. This did not including those who studied abroad who later returned home to compete for jobs. It is such an alarming figure. According to a recent report by the National Bureau of Statistics, there were a total of

28.58 million persons in the Nigerian labour force that were either unemployed or underemployed in the fourth quarter of 2016 compared to 27.12 million in the third quarter; 26.06 million in the second quarter and 24.5 million in the first quarter of the year under review. From the report by the National Bureau of Statistics, it is clear that there has been a steady rise in the number of unemployed youths, from 12.1% in the first quarter to 13.3% in the second quarter and from 13.9% in the third quarter to 14.2 % in the fourth quarter which is 4.2% higher than the rate recorded in the fourth quarter of 2015. The report further revealed that there was a reduction of 977,876, representing 1.8% in the number of persons in full time employment in the fourth quarter of 2016. The series of statistics presented are a clear testament to the fact that unemployment in Nigeria has really become a thorny issue. It therefore underscores the need for the youth to seek alternative means of livelihood. Speaking during the first annual youth conference organised by The Great Minds in collaboration with the National Youth Assembly of Nigeria, Enugu State chapter recently, the founder, Women Aid Collective, Prof. Joy Ezeilo said that unemployment has increased the rate of poverty, inequality, social exclusion and intimidation and has led young people into drug trafficking,

migration and human trafficking”. Prof. Ezeilo who spoke on the topic: Youth, Self Reliance and Livelihood Sustainability, rightly observed that the economy of the country has not been able to integrate the survival and future of the youths and it continues to be a source of great concern. The theme for the conference was: The Restoration of Self-Help Among Nigerian Youths. It would not have come at a better time than now when there is an ever increasing rate of social vices all of which have been blamed on the youths. The question therefore is: what must be done? First of all, we must get rid of the notion that whoever is not gainfully employed after school has practically wasted his life in the university or polytechnic. Everyone must not be a doctor, a lawyer, an engineer or a politician. It is important to note that economies around the world today are private-driven. A perfect example is China where the private sector is the main driver of growth and employment. Between 2010 and 2012, private sector firms produced between two-thirds and three-quarters of China’s GDP and also accounted for 90% if its exports according to a report by World Economic Forum. The WEC report also revealed that China has the world’s largest foreign exchange reserves of $3.21 trillion. Between 2005 and 2016, its total global investment and con-

struction activities amounted to a value of about $1.2 trillion. It is the world’s largest exporter and the second largest importer of merchandise goods. There is therefore the need for paradigm shift in the education curriculum at all levels. Much Emphasis should be placed on producing graduates who are creative and innovative, rather than merely focusing on bringing forth graduates whose heads are filled with theoretical teachings on professional vocations. The youth must strive to free their heads and their hearts from stereotypes of the imperial world of globalisation which merely favour western culture and lifestyle and try to be themselves. They must always engage their minds with good reasoning. Today, such skills as carpentry, tailoring, wielding and livestock farming have been left for the uneducated. If the educated youths embrace these activities, the result will be immeasurable economic revolution in Nigeria as everything the world applauds today in science and technology are outgrowths of little activities that were advanced to admirable products. The issue of self reliance should occupy the front burner of our national discourse because when achieved, it can pave the way for robust economic growth and creation of sustainable wealth in the country. ––Arinze Gideon, gideonarinze0@gmail.com

to continue to be President of Nigeria with all the work that this entails. Yet, I know He’s giving you this chance to once again make history, to give our nation the breath of fresh air it deserves, to set another worthy paradigm. He’s giving you this opportunity to quietly step aside, so you can go take care of your health away from public glare and demands; He’s giving you this opportunity to spend the rest of your days appreciating the good work you have engendered from the elevated sidelines. Yes, that is why He’s given you this new lease of life. As you can see, the country is a young country. We have over 70 percent of our citizens at the age of 30 and below. The country is in a hurry and it needs the vigour and dynamism of youth in government to match its people’s ambition. It needs that to take us forward as quickly as we deserve. Of course, if you were younger and healthier, there would be no question that you would be taking us there, but you are not. Yet, even if you cannot take

us there, you should set us on the way with this singular act of handing over to Professor Yemi Osinbajo, so he can have the free hand to take the nation forward and to do you and Nigerians proud. Mr President, do not get into this stop-start-stop business of governance anymore because your health situation does not allow it. As it is, God forbid, you will not have any justification to go abroad for further medical treatment or spend time cocooned in Aso Rock because of your illness. Even your most ardent supporters, especially those who truly love you and desire your wellbeing, will tell you then to resign. But my advice is that you shouldn’t wait for that to happen or for any of them to tell you. You just do it now. You have an able lieutenant in Yemi Osinbajo. Maybe there are matters of geopolitics in power and succession at play in your party or in your political circle, but whatever these are, Nigeria is bigger. –--Kennedy Emetulu, Lagos

T HE M ILITARY AND OUR LOVED ONES

while back, a close friend of mine and neighbour decided to pursue his dream of joining the Nigerian Army. Was it a good decision for his friends and family? Yes. Were we expecting him to preserve a chunk of his admirable gentle nature—which we all loved him for, despite the rigour of military training? I didn’t see why not! Anyway, he successfully scaled through selection and began active service. He visited home whenever he could, but everyone could tell he obviously wasn’t the same person. His first strange behaviour as a soldier started when he aggressively threatened to beat up an elder sibling—whom he once revered, for ‘crazily thinking’ he was the same ‘old submissive civilian.’ On one of his visits, we had planned a weekend getaway, so we joined a local bus headed for our hangout location. While in the bus, we chatted away, and had a few laughs until he began narrating the torrid experiences he had gone through as a recruit, and how some of his friends didn’t make it because they either lost their lives or sustained severe injuries. Soon enough, it was time to pay our fare, and of course, the rock-faced bus conductor didn’t dare request payment from my soldier-friend who was partly kitted out in his uniform. I stretched out to pay for mine, but was immediately rebuked by my friend who ordered the conductor not to collect any money from me. That seemed rather awkward, but the bus conductor—who was far much older, persisted, (after all, I was just a mere civilian passenger who was privileged to sit next to a soldier). My soldier-friend didn’t speak any further and

remained silent until the bus stopped. He hastily jumped down, and seized the conductor by his pants, while he pulled out the scary- looking belt attached to his uniform. It was stunning how he tirelessly whipped the bus conductor who kept screaming out in pain, and only stopped when other drivers at the park strongly pleaded with him to forgive their poor colleague. We slowly left the crowded scene in a walk of shame (well at least, for me who couldn’t bear the eyes of bystanders staring at me in a weird way). I couldn’t help but wonder... What engineered my soldier-friend’s strange and aggressive behaviour? Was he trying to protect me by denying someone else of his rights and money? Or was he more concerned about a mere ‘civilian’ bus conductor who hurt his army ego by demanding bus fare from his friend who was sitting right next to him? I pondered real hard and made a solid resolution to confront him head-on. Well, I really did try to break the awkward silence that had ensued between us, but on a second thought, I wouldn’t hurriedly advise a man who just mercilessly whipped a bus conductor with a monster belt and was obviously still fuming in rage. I wasn’t prepared to be at the receiving end of that belt just yet! I never had a second chance to advise my soldier-friend who later relocated, and we lost contact. Now, I’m asking: Do our soldiers lose a bit of their conscience and humanity at the academy? Is there a radical or monstrous anti-civilian ideology which makes it difficult for our soldiers to perfectly fit into society? What does the military do to these men? ––Nimi Princewill, princewill.nimi@yahoo.com

THISDAY, THE SUNDAY NEWSPAPER ˾ Ͱ͵˜ Ͱͮͯ͵

INTERNATIONAL

Limitations of National Unity by Manu Militari: An Open Letter to President Buhari

ur Dear President Muhammadu Buhari, GCFR, the uncertainty that has come to characterise the future of our country, and particularly the way you want to address it, not only has the potential to have an unintended effect, but also largely explains the rationale for this open letter to you. I am writing to you in my capacity as a Nigerian by ius sanguinis, as a compatriot, who believes in a more united, virile, and strong Nigeria that should be completely free from political chicanery, institutional corruption and ethnic chauvinism. Excellency, no one disputes your integrity and wish to stamp out societal ills in Nigeria. In good health and sickness, your wishes for a great and functionally independent Nigeria have always been patriotic. When you were Head of State of Nigeria, your policies on WarAgainst Indiscipline spoke for themselves. You should not also quickly forget your policies adopted to confront some exploitative European policies. For instance, you did introduce the policy of barter, exchanging crude oil in settlement for Nigeria’s needs. Your policies offended Nigeria’s economic partners but the policies were national interest-induced. Again, as President of Nigeria, you have declared a new war on corruption in addition to the inherited war on terror. The war on terror is a special national, regional and international problem that cannot be easily contained by a single country for various reasons. Terrorism, as defined from its etymological perspective in 1789 during the French Revolution, is the use of cruel method to seek political objectives. Thus, one major criterion for defining terrorism is cruelty in design, violence in operation, and political in outcome. Aterrorist act can be conceived in one country but executed in another country. The terrorists may not be of the same nationality. The sponsors may also not be from the same place.And true enough the victims of terrorism could be the president of a country.An act of terrorism does not distinguish between ages, religion, nationality and place. Terrorism is simply to destroy without any due regard to human rights. These factors make terrorism difficult to be nipped in the bud by one country acting alone. Excellency, if we take a look at the Boko Haram within the framework of the foregoing, it is a terrorist organisation per excellence. Its operational method is cruel and very barbaric. Operationally, it is always violent. Kidnapping, suicide, bombings, and unlawful activities are always its modus operandi. In terms of political outcome, the Boko Haram does not accept the constitutionality of Nigeria as it is today. It is, in fact, seeking the dismantlement of Nigeria and the establishment of an Islamic State of Nigeria in the long run. Thus, while the proponents of boko haramism want to disunite Nigeria, restructure it for Islamic purposes; they should be differentiated from other Nigerians calling for political restructuring of the polity for purposes of greater effectiveness and fairness.Anon-differentiation between the two cannot but be another way of saying that those calling for restructuring of Nigeria are also terrorists. This interpretation cannot be your intention. Consequently, while the approach to the containment of boko haramism can be violent or belligerent without offending international law, the approach to dealing with the agents of restructuring cannot, and should not, be by manu militari.Amanu militari method has limitations that have the great potential of leading to unintended policy outcomes. Your Excellency may wish to quickly recall the story of Japan’s attack on United States Pearl Harbour during World War II. The Japanese decided to launch the attack with the immediate objective of neutralising the naval capacity and capability of the United States with the ultimate objective of preventing the United States from entering into the war on the side of theAllied Countries. Most unfortunately, however, the Japanese were quite myopic in their strategic calculations. They underestimated the reactive capacity of the US. They did not know that the United States had already developed atomic weapons that needed to be tested.Annoyingly, especially that the Japanese attack was unprovoked and the United States had not even contemplated entering into the war, the Washingtonian government simply decided to test its atomic bombs on Hiroshima and Nagasaki. The rest of the story is well known. What is noteworthy, Your Excellency, is not the military capacity of the United States per se. It is the political will to act, to retaliate, and to retaliate using a much cruel means, but within the framework of the principle of legitimate self-defence. Even though the Japanese, without doubt, have learnt their lessons with much bitterness, they

VIE INTERNATIONALE with

Bola A. Akinterinwa Telephone : 0807-688-2846

e-mail: bolyttag@yahoo.com

Buhari again are currently discussing the review of their constitution with the objective of removing the limitations placed on their military formation by theAllied forces. When the Japanese scenario is compared with the situation in Nigeria, it is not the question of military capacity or measure of strength that is the issue, but similarly, the issue of political will. Japanese attack was a resultant of voluntary political will. The US reaction was also a resultant from political will. In Nigeria, many, for the same patriotic reasons that Your Excellency do have, are showing their political will to have Nigeria restructured. What is happening in Nigeria of today is the conflict of political will, that is, conflict between order and counter order. It is how the management of the resultant encounter that will eventually determine whether there will be a situation of disorder or orderliness in the long run. This is why Your Excellency will need to make haste slowly and thread with much caution, as well as refrain from speeches that have the potential for negative interpretative consequences for the people of Nigeria. For instance, in your address to the nation following your return home last week, you said, and I quote, ‘Nigeria’s unity is settled and not negotiable. We shall not allow irresponsible elements to start trouble and when things get bad they run away and saddle others with the responsibility of bringing back order, if necessary with their blood.’ This particular quotation cannot enable Nigerians ‘to come together to face common challenges of economic security, political evolution and integration, as well as lasting peace among all Nigerians,’ as you wanted in your concluding plea to all compatriots. In this regard, it is quite arguable to suggest that ‘Nigeria’s unity is settled.’ Since Nigeria acceded to national sovereignty in 1960, national unity has always remained a controversial issue. National unity has never naturally emerged but enforced. When the civil war broke out in 1967, the slogan was ‘to keep Nigeria one, is a task that must be done.’ When the secessionists unconditionally surrendered in 1970, the issue of national unity still remained a challenge, along with the chal-

The import of the foregoing narration is simply to let you know that your administration has kept quiet about various acts of indiscipline at the NIIA to which attention has been drawn.Your Government punishes sincerity of purpose, patriotism and hard work based on my unique experience. Many Nigerians are facing this type of injustice and unfairness in the country.This is precisely why there are several agitations for restructuring.There is no policy of fairness and justice for all. I therefore strongly believe that, in dealing with injustice and unfairness, the use of force cannot but be an aberration

lenges of policies of reconciliation, reconstruction and rehabilitation. General Yakubu’s policy stand of ‘no victor, no vanquished’ did not address the requirements of national unity beyond the restructuring of the four regions into twelve constitutive states. The notion of a region or regionalism was changed to state or statism. The truth of the matter, however, is that the war never came to an end on January 12, 1970 with the surrender by Philip Effiong. It was the battle that actually came to an end. The current agitations being witnessed by everyone now are nothing more than the continued manifestations of the July 1967 to January 1970 war of national unity. Even when the 1999 constitution was promulgated, the opening preamble, ‘we the people of Nigeria,’ has been generally criticised on the basis that it was not actually the people, but the military, that made the constitution. In the eyes of many observers, it was a ‘military’ fraud. Consequently, it is not possible for ‘national unity’ that has not been allowed to exist, to be settled in terms of objectivity of purpose. More important on this issue of national unity, there is the need to differentiate between ‘Nigeria is united,’ and ‘debate on Nigeria is united.’ Regarding ‘Nigeria is united,’ a fait accompli is implied. It is already a reality that is no longer possible to change, and therefore not negotiable.As for ‘debate on Nigeria is united,’ they necessarily raise the extent to which the fait accompli is still relevant in the scheme of national survival strategies. Put differently, even if we admit that Nigeria is united, the debates on national unity are raising new questions on its functional usefulness. If our dear President says Nigeria’s unity is settled and not negotiable, he is also at the same time admitting that the societal ills and complaints should remain as they are. This point is not unaware of your admission in your address that ‘there are legitimate concerns. Every group has a grievance.’ If Your Excellency recognises that there are not only legitimate concerns but that various groups also have their peculiar grievances, what happens if and when the grievances of a group are about the conduct and management of national unity? This is the first point in the continuum of limitations to national unity by manu militari that should be addressed. National unity is a priori – a function of the heart. It must first be desired. Even when it is desired ab initio, the initial dynamics of the desire may fade away later, thus making it unwanted. Perhaps more interestingly, national unity has never been enabled by use of force in international relations. Even when former colonial masters united people by force, the larger international community still came up with the principle of self-determination, which is also considered one of the peremptory norms of international law by many scholars. Another point raised in your address is about ‘irresponsible elements. I re-quote you again: ‘We shall not allow irresponsible elements to start trouble and when things get bad they run away and saddle others with the responsibility of bringing back order, if necessary with their blood.’ This statement is unnecessarily indicting. It acknowledges the existence of some irresponsible elements, not to say Nigerians. What is the dynamic of the irresponsibility? It is simply that they will ‘start trouble’ and ‘run away’ when things get bad. The main problem with this statement is that, even before the ‘elements’ would begin to foment troubles, they are perceived as irresponsible. Your Excellency, no one should be adjudged as irresponsible before they act responsible for the irresponsibility is first established. It is the evaluation of an act that can lead to the determination of responsibility or irresponsibility. Without any scintilla of doubt, by talking about irresponsibility of some Nigerians before their acts of irresponsibility are first established, you are also admitting that you are the president of irresponsible people, but of which you are not. You are certainly not, because Nigerians are generally known not to be irresponsible. More so, those calling for a more functional national unity and progressive Nigeria through a revisit of the current political structure cannot be irresponsible. They have patriotic large hearts like you. No Nigerian, regardless of political status, can lay claim to a monopoly of knowledge of how to grow Nigeria or resolve her problems.At best, when a government listens to other views, it not only learns but also uses the learning for self-readjustment. Consequently, I am of the considered view that talking about non-negotiability of Nigeria’s settled national unity is absolutist in strategy, faulty and erroneous in tactic, as well as self-defeating in the long run because of the intrinsic factors. One more important point, Your Excellency, is the relevance of one Yoruba idiom according to which ‘one should begin to recognise medicine/local juju from the level of a stick of match’ (e jeka kiyesi ogun lati ibi isana). Your anti-corruption war is elitist in design and therefore, it is not likely to succeed in the long run simply because it is focusing on corruption at the high level but not at the low levels of society. And true enough, the pattern of growth of corruption and indiscipline is bottom-up in Nigeria. In many parts of major cities in Nigeria, motorcyclists drive against traffic lights without arrest or molestation. Commercial vehicles do not obey traffic laws in the presence of law enforcement agents. Thus, government unnecessarily condones and abets indiscipline and by so doing, it also encourages it and gives wrong signals. You may not be unaware, Your Excellency, that political governance in Nigeria of today is largely predicated on self-deceit and insincerity of purpose. (See concluding part on www.thisdaylive.com)

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS

Editor Vincent Obia Email vincent.obia@thisdaylive.com (08054681757)

LAST WEEK WEEK

CBN The Central Bank of Nigeria on Monday oﬀered $195 million in three segments of the Foreign Exchange Market to boost liquidity in the operation. CBN’s acting director, Corporate Communications Department, Isaac Okorafor, said this in a statement in Abuja. Okorafor said in the wholesale segment of the inter-bank foreign exchange market, the bank auctioned $100 million and also intervened in the Small and Medium Enterprises with $50 million. He said the bank also oﬀered $45 million in the invisible segments.

A view of Marina in the central business district of Lagos

Analysts: Investor Confidence Improved, Not Restored Seek significant increase in FDI Kunle Aderinokun Efforts by the federal government to attract foreign investment may be yielding fruit given the figures from the latest Nigerian Capital Importation report of the National Bureau of Statistics (NBS), which shows tremendous improvement in capital imported into Nigeria. In fact, if for nothing else, the development might have signified improvement in investor confidence in the economy. According to NBS, the total value of capital importation in the second quarter of 2017 was estimated at $1.792 billion. The amount represented some $884.1 million increase over the level in the first quarter of the year and in percentage terms, showed a growth of 95.02 per cent. This, analysts pointed out, might be a sign of good things to come and an indication of early recovery from the quagmire the economy had been enmeshed for several months. Specifically, the development signaled that Nigeria would be out of recession before the end of the year. When compared with the year-on-year data, the figures show an increase of 43.6per cent from the $1.042 billion recorded in the Q2 of 2016. Also, a month-on-month analysis of the capital importation in the second quarter revealed that at $616.5 million, the month of May recorded the highest amount of capital importation, followed by June with $612.6million and May with $563.3 million. The statistics agency pointed out that the main driver of the quarterly growth in capital importation in the second quarter was portfolio Investments, which increased by 145.7 percent, followed by other Investments, which grew by 95.02 percent, and then FDI, which increased by 29.8 percent over the previous quarter. Further analysis showed that the capital

ECONOMY importation comprised three types, namely FDI, portfolio investment and other investments with each comprising various sub-categories. According to NBS, portfolio investment was the largest component of imported capital in the second quarter, accounting for $770.5 million or 43 per cent of the total, followed by other investments, which accounted for $747.5 million or 41.7 per cent, and then FDI, which accounted for $274.4 or 15.3 per cent during the quarter. A year-on-year comparison of the three investment types indicated that portfolio investments increased by 128.4 per cent from the $337.3 million recorded in the second quarter of 206. Other investments also increased by 43.6 per cent from $520.6 million reported in the corresponding quarter of 2016, while FDI grew by 48.9 per cent from $184.3 million. Describing the improvement as a welcome development, some of the analysts were, however, not pleased that the portfolio investors were the major contributors to the growth in the capital imported into the country. They believed the growth could have been more tangible and impactful if the capital came as FDIs. Executive Director, BGL Capital Ltd, Femi Ademola, noted that, “The increase in capital importation into Nigeria over the second quarter of 2017 compared to the first quarter and the corresponding period of 2016 is a very good sign that we might have exited the economic recession and now in the early recovery period.” Ademola stated that, “The economic contraction by only 0.52 per cent in the first quarter of 2017 compared to growths of -1.73 per cent and -2.54 per cent in the fourth and third quarters of 2016 indicates that we might have reached

an inflexion point and may even experience a positive growth in the second or third quarter of 2017.” “The consistent decline in inflation for about 6 months now (although significantly due to the base effect) is also a sign of good turn for the economy. We have also been experiencing a stable exchange rate over the past months arguably due to the improved oil production and the higher and stable oil price. Yield on fixed income instruments are slightly moderating and stock prices are experiencing strong upticks. “Discerning portfolio investors therefore saw opportunities in early investments so as to partake in the early economic upswing that is expected to follow the economic With these developments, it is likely that the country will be officially out of recession at the beginning of the fourth quarter with strong possibility of attracting further capital investments

recovery. Strategic investors too saw the stable exchange rate as a sign of a probable long term economic stability; hence the increase in foreign direct investments,” he added Ademola believed that, “With these developments, it is likely that the country will be officially out of recession at the beginning of the fourth quarter with strong possibility of attracting further capital investments.” This, he explained, was due to the lower capacity for imported goods and the need to substitute them for locally made goods. “This will attract some foreign investors to locate their production bases in Nigeria so as to benefit from the large market here. We would be able to more than double the capital importation for the first half of

the year if these happen.” He, however, pointed out that there was the need to support the situation with attractive fiscal policies to encourage these investments. Likewise, Director, Union Capital Ltd, Egie Akpata, believed the NBS data clearly showed improved investor confidence in some parts of the economy. Akpata, however, cautioned that, “Until we start to see very significant long term foreign investment coming in as FDI, we cannot conclude that investor confidence has returned.” “There could easily be a slowdown in FPI in Q4 as foreign portfolio managers rebalance their portfolios and realise significant gains made in the Nigerian equity market earlier in the year.” Holding a contrary view, CEO, The CFG Advisory Ltd, Adetilewa Adebajo, argued that, “The capital importation increase is strictly for portfolio investor as a result of the Nigerian Autonomous Foreign Exchange; no significant meaningful FDI flows.” Also, analysing the issues, CEO, Nigeria Competitivessness Council of Nigeria (NCCN), Matthias Chika Mordi, noted that, “We are still validating the data. Preliminary figures point to the preponderance of portfolio investment. In my opinion, three factors are at play here: Valuation, Nigerian equities are significantly undervalued relative to earnings; Reduced volatility in the forex markets; The CBN window introduced earlier this year.” However, CEO, Global Analytics Consulting, Tope Fasua, has cautioned against the danger of being confused by statistics. “Nasseem Nicholas Taleb advised us in his aptly titled book not to be Fooled By Randomness. That is the danger in getting confused with statistics,” he said.

Crude Oil prices yet again rose after U.S. crude inventories declined for the eighth straight week and a storm approached the Gulf Coast with the potential to disrupt oil and refined products output. Brent crude futures climbed 58 cents to $52.45 a barrel while United States West Texas Intermediate crude futures were trading at $48.34, up 51 cents. U.S. crude inventories fell 3.3 million barrels last week, compared with analysts’ expectations for a decrease of 3.5 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell 503,000 barrels, the Energy Information Administration said. “Oil inventories continue their downward trend in spite of a significant increase in crude oil imports this week,” Andrew Lipow, President of Lipow Oil Associates in Houston, said. Equity The African Export-Import Bank (Afreximbank) met with leading Nigerian investors to push for strong participation in the bank’s $300 million equity offering. President ofAfreximbank,DrBenedictOramah, told the investors that the equity offering would be issued through depository receipts backed by its Class “D” shares for new and old investors in the bank. Oramah said that the aim was to generate between $100 million and $300 million as part of the bank’s target to mobilise up to $1 billion to boost African trade over the next five years. Capital The value of capital imported into Nigeria in the second quarter of 2017 rose by $884.1 million to stand at $1.79 billion, the National Bureau of Statistics, said. According to the NBS, the figure represents 95.02 per cent increase. The report, showed that the main facilitator of the quarterly growth in capital importation in the second quarter was portfolio investments, which increased by 145.7 per cent. It was followed by other investments, which grew by 95.02 per cent, and the Foreign Direct Investment, which increased by 29.8 per cent over the previous quarter. NACCIMA Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture called on the federal government and the Central Bank of Nigeria to take urgent steps to bring down interest rates and further stabilise the exchange rate of the Naira to US Dollar, saying such measures will strengthen the economy and attract foreign direct investments. The Chamber’s President, Iyalode Alaba Lawson, said government should come up with more friendly policies, interventions and measures to bring down interest rates to single digit and also make firmer commitment to the micro, small and medium enterprises sector.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS/MONEY

Customers transacting in a banking hall

For Banks, a Moment of Relief After weathering the challenges posed by the economic recession, banks appear to be experiencing relief, with improving foreign exchange system and positive macro-economic environment. Obinna Chima writes

fter withstanding the challenges that came with the slump of Nigeria’s Gross Domestic Product into a negative territory last year, banks in the country appear to be opening up to a lot of possibilities in the period ahead. The latest report by Business Monitor International, a member of the Fitch Group, which reflected this, showed that the outlook for the Nigerian banking sector remained positive mid-way through 2017. The report brings an element of optimism and cheer into the banking system. Optimism The report hinged its assessment of the industry on rising oil receipts and greater liquidity in the economy following the introduction of a new, tradable exchange rate in April. It stressed that the changes would continue to support the recovery of the banking sector. Furthermore, it pointed out that systemically important top five banks, which together account for over half of the total banking sector’s assets, were financially sound and would remain so through the course of 2018. But the report showed that greater concerns remained over smaller banks, where capital adequacy ratios (CARs) are being tested, especially when rising non-performing loans (NPLs) are taken into account. “Nevertheless, with rising oil prices and production, and diminishing liquidity constraints, we are confident the Nigerian banking sector will remain stable,” the report added. The report anticipated that the new exchange rate policy being implemented by the Central Bank of Nigeria would see a general uptick in the Nigerian economy, which would drive profit growth for most banks. According to BMI, “The greater liquidity in the economy will see increased activity in the banking sector. There is already an improvement in the number of letters of credit, bills being settled and remittances being allowed. With the new tradable window now active, this trend will increase. “We are confident that the banking sector will remain resilient in 2017, and that a repeat of the 2009 crisis is off the cards. The CBN put in a series of measures regarding capital ratios, following the banking crisis, which makes the sector far more stable than it was previously.

“However, another shock to the oil sector in the form of further pipeline attacks or structurally lower prices would notably increase these risks.” The International Monetary Fund recently affirmed that Nigeria would recover from economic recession this year, projecting that the country’s economy would grow by 0.8 per cent in 2017. Citing increased crude oil production due to security improvement, the IMF stated that Nigeria’s GDP would grow by 0.8 per cent in 2017 and 2.3 per cent in 2018. Customers Loans The audited results of 2016 for 14 banks quoted on the Nigerian Stock Exchange had shown a 22 per cent increase in total loans and advances to their customers, from N13.315 trillion in 2015, to N16.372 trillion in the year under review. The financial results of the banks reviewed by THISDAY showed deliberate efforts by the banks to support operators in the real sector of the economy. Similarly, the total profit after tax (PAT) of the 14 banks rose marginally to N452 billion in 2016, up from the N442.451 billion recorded the previous year; just as their total gross earnings climbed to N4.007 trillion in the reviewed year, as against the N3.441 trillion recorded in 2015. The banks’ results reviewed were those of Zenith Bank Plc, Access Bank, FBN Holdings, United Bank for Africa Plc, Guaranty Trust Bank Plc, First City Monument Bank, Unity Bank, Wema Bank, and Union Bank. Others included Fidelity Bank, Sterling Bank, Stanbic IBTC Holdings, Diamond Bank, and Ecobank Transnational Incorporated. A breakdown of the figures showed that while FBN Holdings’ loans and advances increased to N2.084 trillion in the reviewed year, up from N1.817 trillion the previous year; Zenith Bank Plc’s financial statement also showed the bank gave out N2.289 trillion as loans and advances to its customers, compared with the N1.989 trillion recorded the previous year. Similarly, while UBA loaned customers N1.505 trillion in 2016, up from N1.037 trillion the previous year, Access Bank recorded N1.809 trillion in 2016, from N1.368 trillion in 2015. GT Bank recorded N1.589 trillion in 2016, up from N1.372 trillion in 2015; ETI also posted N2.824 trillion in 2016, from N2.232 trillion in 2015. Diamond Bank Plc posted N995.334 billion as customer loans and advances in 2016, up from N763.635

billion the previous year, while Fidelity Bank posted customer loans and advances of N718 billion in 2016, higher than the N578 billion it gave out in the previous year. Proﬁt In terms of profit after tax, the breakdown showed that while GT Bank recorded N132.281 billion in 2016, higher than the N99.437 billion posted the previous year; Zenith Bank earned PAT of N129.652 billion in 2016, from N105.663 billion in the previous year; UBA’s PAT was N72.264 billion in 2016, from N59.654 billion the previous year; Access Bank’s PAT increased to N71.439 billion in 2016, from N65.869 billion; while FBN Holdings’ posted PAT of N17.141 billion, from N15.539 billion. Group Managing Director/Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe, had expressed optimism that developments in the macro economy would be positive. Also, Managing Director, FBN Holdings, Mr. U.K Eke, had described 2016 as a year characterised by significant uncertainty in the operating environment. “We expect an improved economic environment through 2017 and are confident that the foundations we have put in place will drive improved financial performance and consequently enhance shareholders’ returns,” Eke said. Chief Executive Officer, Diamond Bank, Mr. Uzoma Dozie, said in the months ahead, the bank would continue to deploy new technologies and digital applications to drive financial inclusion and convenient banking amid a decline in the pace of economic activities and weak economic fundamentals. The bank will also continue to deepen its retail strategy to mop up low cost funds, expand its credit creation structure, and increase market share in all market segments, Dozie added. Aggressive Deposit Mobilisation The full year 2016 audited results of 11 Nigerian banks had shown a significant shift towards savings deposit mobilisation by the financial institutions, reflecting the adjustment in their business strategies following the withdrawal of public sector deposits to the Treasury Single Account with the CBN. The results of the banks reviewed by THISDAY had showed that their savings account deposits increased by 31 per cent, to N2.164 trillion in 2016, compared to

N1.649 trillion in 2015. The banks included Zenith Bank, United Bank for Africa Plc, Guaranty Trust Bank, First City Monument Bank, Access Bank, Fidelity Bank, Unity Bank, Union Bank, Sterling Bank, Stanbic IBTC, and Wema Bank. A breakdown of the amount reported by the banks had shown that UBA’s customers’ savings deposits rose to N524.751 billion in 2016, higher than N407.036 billion it recorded in 2015, GTBank’s savings deposits also increased to N454.436 billion in 2016, higher than N332.781 billion recorded in 2015, just as Zenith Bank’s savings deposits increased to N358.951 billion in 2016, higher than N246.113 billion it posted in the previous year. Access Bank’s customers’ savings deposits similarly improved to N179.070 billion in 2016, from N137.963 billion in 2015, Union Bank also reported a growth in savings deposits from N146.433 billion in 2015 to N169.597 billion last year, while Fidelity Bank’s savings deposits climbed to N155.019 billion in 2016, from N119.140 billion recorded in the previous year. Also, FCMB’s savings deposits rose to N139.771 billion in 2016, from N112.728 billion in 2015, while Sterling Bank realised N52.357 billion through savings deposit mobilisation in 2016, up from N41.728 billion in 2015. Other banks that reported growth in savings deposits included Unity Bank, N46 billion in 2016, from N41.962 billion in 2015; Wema Bank, N45.339 billion in 2016, from N35.580 billion in 2015; and Stanbic IBTC, N38.630 billion in 2016, from N27.301 billion in 2015. The growth in savings deposit mobilisation was a reflection of the structural shift in the banks’ business model in Nigeria following the federal government’s enforcement of the TSA in 2015. This development was evident in the aggressive campaigns and reward schemes churned out by the industry since the withdrawal of public sector deposits. Across the industry, banks in 2016 intensified strategies to remain dominant in the retail segment of the market. A lot of banks also refreshed their retail products to make them attractive to customers. As part of their campaign drive, several banks offered rewards to customers willing to deposit more cash with them through promotions where prizes such as cash, cars, generators, refrigerators, and other electronic gadgets were won through electronic draws.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS/ENERGY

A view of NLNG plant complex

PHOTO CREDIT: Gettty Images

Unending Controversy over NLNG Act Amendment The National Assembly has continued to receive knocks from oil industry stakeholders for the on-going attempt to amend the Nigerian LNG Fiscal incentive law, to compel the company to pay an NDDC levy. Ejiofor Alike reports

Supreme Court ruling in 2011 exempted Nigeria LNG Limited from the payment of a levy amounting to three per cent of its total annual budget to the Niger Delta Development Commission, in accordance with the provisions of the NLNG Act of 2004. But following this ruling, there was pressure on the National Assembly to amend the NLNG Act to compel the company to pay the levy. Amendment The campaign to amend the NLNG Act came to a peak recently when the House of Representatives passed “a bill for an Act to amend the Nigerian LNG (Fiscal incentive, Guarantees and Assurances) cap. N87, Laws of the Federal Republic of Nigeria 2004 to empower NLNG Limited, to make its statutory contribution to the NDDC fund and for other matters connected therewith.”This was contrary to the position of the Nigerian National Petroleum Corporation and other stakeholders in Nigeria’s oil and gas sector. The bill, which seeks to ensure that NLNG pays three per cent of its annual budget to the NDDC, will also remove the NLNG’s status as dollar-denominated, which was part of the incentives to protect the company and its shareholders against the Naira’s flip-flop. The contentious bill, sponsored by House Minority Leader, Leo Ogor, will also force NLNG’s subsidiary, Bonny Gas Transport Company, to pay tax in Nigeria, while the NLNG itself will equally pay three per cent of its gross freight on international inbound and outbound cargo to the Nigerian Maritime Administration and Safety Agency (NIMASA). A new provision – Section 7(b) – added to the original NLNG Act says,“Notwithstanding Section 7, or any other provisions of this Act, the Nigerian Liquefied Natural Gas Limited shall pay three per cent of its total annual budget to the Niger Delta Development Commission Fund as required by

Section 14, Subsection 1 and 2 (b) of the NDDC Establishment Act, 2000.” Criticism A former Managing Director of NLNG, Mr. Babs Omotowa, had said the attempt to remove the assurances and guarantees in the NLNG Act, which incentivised the investors to commit $6 billion to build the plant, would backfire and scare investors from Nigeria. Omotowa said it took more than 30 years for NLNG to come to fruition, as the investors had doubts about whether Nigeria was a suitable place to put so much money. Minister of State for Petroleum, Dr. Ibe Kachikwu, said NLNG’s ability to attract future investments to maintain and grow the plant was being put in jeopardy by attempts to renege on promises that Nigeria gave to foreign investors that had enabled the country attract $15 billion in foreign investment, and grow LNG capacity from a two- Train complex to a six- Train plant. Group Managing Director of NNPC, Dr. Maikanti Baru, had reportedly said the review of the NLNG Act was causing a challenge for the federal government and the majors, adding that it is sending wrong signals to the international community about how business is done in the country.” The Trade Union Congress (TUC) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) had also opposed the amendment, saying it is not in the interest of Nigeria. Defence At the 2017 conference of the Association of Energy Correspondents of Nigeria (NAEC), held recently, stakeholders in Nigeria’s oil and gas sector urged the Senate to reject the amendment, saying it would threaten the proposed $25 billion investments in LNG Trains 7 and 8. They argued that it would also lead to loss of investor confidence in Nigeria and cause a reputational risk for the country. However, a member of the House of Representatives from Kaduna State, who is also a member of the House Committee on Gas, Hon. Simon Yakubu Arabo, in his presentation, told the stakeholders

that the assurances and guarantees in the Nigerian LNG Fiscal incentive, Guarantees and Assurances cap. N87 was not given in perpetuity as all laws in all parts of the world are subject to amendment. Arabo argued that the National Assembly had the powers to amend any law in Nigeria, including the Nigerian constitution. He stated,“NLNG, with all its pretentions, is a gas producing company and the National Assembly has a duty to bring it in conformity to the constitution. “Those that have been saying we should not tamper with the NLNG Act, which basically is saying this law is here forever, we cannot allow that. There is nothing like a law in perpetuity, it does not happen anywhere in the world. You cannot have an act and say no one can touch it; we are a sovereign nation and we are duty-bound

The bill, which seeks to ensure that NLNG pays three per cent of its annual budget to the NDDC, will also remove the NLNG’s status as dollar-denominated, which was part of the incentives to protect the company and its shareholders against the Naira’s ﬂip-ﬂop

to review agreements that appear to short-change our common patrimony. “If we can amend the constitution of the country, what is so special about an act setting up an entity? They have had tax holidays for more than 16 years, what more are they looking for?” But General Manager in charge of External Relations at NLNG, Dr. Kudo Eresia-Eke, said NLNG had been paying taxes for the past six years. Many stakeholders at the meeting acknowledged the powers of the National Assembly to amend any law, but they stressed the need for the country to respect the sanctity of contracts. “The first issue in this amendment is the timing.The Nigeria National Petroleum Corporation is currently negotiating Train 7 of the NLNG with various parties and when this started going round in the media, it put the NNPC on the defensive,” said Head of Energy Research at Eco Bank, Mr. Dolapo Oni.“A bigger picture is that Nigeria needs to monetise its gas and the NLNG has proven to be the best vehicle to do so. Trains 7 and 8 are meant to provide at least 18,000 jobs, so the question is: what is the trade-off we are getting from here if paying the three per cent annual budget to NDDC means that these investments won’t happen? Would paying (three per cent of NLNG’s budget to NDDC have created the same amount of jobs and investments?” A former chief financial officer of NLNG, Mr.Victor Eromosele, argued, “Rather than squabbling over this pie, why not bake a bigger pie? What signal does this decision by legislators send to investors? It simply says Nigeria cannot keep its word. We are talking about ease of doing business and this amendment is certainly against the spirit.” Executive Director, Socio-Economic Rights and Accountability Project, Tokunbo Mumuni, queried the impact of NDDC operations on the citizens. “Previous contributions to the NDDC, where are they and what has been the impact on the people? We should not just be concerned about companies paying levies, but judicious use of the funds collected from the companies is what is most prominent,”said Mumuni, who was represented by Timothy Afolabi.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS/AVIATION

Anxiety as FAA Audits Nigeria’s Aviation Sector The United States Federal Aviation Administration conducted a five-day audit of the Nigerian aviation industry last week to check if the country had complied well enough with safety standards to justify renewal of its Category 1 Safety Status. Chinedu Eze writes that despite anxiety among industry observers, the aviation sector has tried to maintain a good safety record

team of inspectors from the United States Federal Aviation Administration arrived Nigeria last week to re-evaluate the country’s aviation sector to try to find out whether it had maintained specified safety standards and closed safety gaps observed in the last audit. The aim of the exercise, which ran from Monday, August 21, to Friday, August 25, was to confirm if the country’s aviation industry qualified for the renewal of its Category 1 Safety Status. IASA Rating On August 23, 2010, the US Department of Transportation’s Federal Aviation Administration announced that Nigeria had achieved a Category 1 rating under the FAA’s International Aviation Safety Assessment programme. This meant that Nigeria had complied with international safety standards set by the International Civil Aviation Organisation. ICAO is the United Nations’ technical agency for aviation, which establishes international standards and recommends practices for aircraft operations and maintenance. The IASA Category 1 rating was based on the result of a July 2010 FAA review of the Nigerian Civil Aviation Authority. With the IASA Category 1 rating, Nigerian air carriers were allowed to operate to the United States with their own registered aircraft. Before the award of the status to Nigeria, Arik Air, which started operating to New York two years before, used wet leased aircraft with foreign cabin and cockpit crew. It was after the award of Category 1 safety rating that the airline was allowed to use Nigerian registered aircraft and crew. An IASA Category 1 rating means a country has the laws and regulations necessary to oversee air carriers in accordance with minimum international standards, and that its civil aviation authorities – equivalent to the FAA for aviation safety matters – meets international standards for technical expertise, trained personnel, record keeping, and inspection procedures. The rating was renewed for Nigeria in 2014 after an FAA team audited NCAA to ensure that Nigeria maintained the safety standard that had qualified it for the status. If Nigeria passes the current audit, the rating would be renewed for the second time, which would indicate that Nigeria has continued to improve its aviation industry. Cynicism Industry watchers have observed that whenever the FAA and ICAO come to audit the Nigerian aviation industry to know whether the sector has maintained operational safety standards and international practices, there are always cynics who seem to wish that Nigeria failed the audit. They have attributed this to ego trip. But over the years, Nigeria has defied the cynics and progressively continued to pass the audit, indicating that the country has continued to improve its safety status. Such cynicism seemed to be expressed recently by the National Association of Aircraft Pilots and Engineers, which in a communiqué warned that Nigeria might lose the Category 1 safety rating. NAAPE alleged that the aviation agencies were not able to attract, hire or retain qualified and experienced pilots and engineers due to poor remuneration and conditions of service for the aviation professionals, whereas “Availability of adequate qualified technical personnel is Critical Element 4 of the International Civil Aviation Organisation Eight Critical Elements of a State’s Safety Oversight System.” NAAPE quoted ICAO document 9734 on the

Murtala Mohammed International Airport, Lagos Staffing Requirements in a State Civil Aviation System, which states, “To effectively fulfil its responsibilities, the state civil aviation system must be properly organised and staffed with qualified personnel capable of accomplishing the required wide range of technical duties involved in safety oversight. Furthermore, they should also enjoy conditions of service and remuneration consistent with their education, technical knowledge and experience and comparable to the operator’s staff whose activities they will inspect and supervise.” NAAPE also stated that ICAO document 9756 Part 1 Manual of Aircraft Accident and Incident Investigation, Chapter 2 section 2.4, reiterated the need for qualified, well trained and motivated personnel. “The worldwide standard is for the CAA’s Inspector and Air Safety Investigator to earn more or, at the least, be at par in earning with the aviation technical staff in their states,” it stated. Reaction Reacting to the NAAPE’s argument, an industry unionist and senior official in NCAA carpeted the association, saying that in comparative analysis the welfare of the aforementioned personnel is not behind those in other countries in the African and Indian (AFI) region. Besides, he said the agencies in the industry had adequate personnel, as required by ICAO and FAA, “which this on-going audit will reveal.” He said if NAAPE really meant well for Nigeria, why should it issue a statement when the FAA officials were coming to audit the industry? Similarly, Director-General of NCAA, Captain Muhtar Usman, said Nigeria had not only met all the conditions for the renewal of the audit, but the country has continued to improve on

its safety record. Assessment The members of the FAA team that arrived Nigeria to audit the aviation industry included Louis A. Alvarez, Team leader; L.P. Vanstory, Operations Specialist; Benjamin Garrido, Airworthiness Specialist; and Jeffrey Klang, Attorney. NCAA said the FAA officials would assess the country’s aviation law, regulations, and oversight capability in accordance with the eight critical elements as defined in ICAO document 9734. In addition, during the assessment, the team would need to visit the facilities of an Airline Operators Certificate (AOC) holder, which was likely to be Medview Airline, which has been operating international routes after Arik Air withdrew in March this year after it was taken over by the Asset Management Corporation of Nigeria. They would also look at the operations and maintenance organisations in the country. If certified, FAA would renew the Category One Safety Status, which it awarded to Nigeria in August 2010, when the country was able to meet its stringent safety standards. FAA Category I Safety Status is important in the air transport sector because other international carriers and aviation institutions use it along with the ICAO certification to take decisions on the safety status of every country on airline operation. With the certification, any airline in the world can fly to Nigeria if the country meets its commercial objective. Optimism On Monday, when the team started the review of the safety status, the director-general

of NCAA confirmed the team had commenced the re-assessment of the safety status of Nigeria’s aviation industry and the level of compliance with international practices. Usman expressed optimism that the country would once again scale the hurdle, stressing that the regulatory agency is prepared to retain the Category One Status it attained in 2010. He recalled that Nigeria attained the new status in 2010 and retained it in 2014 after a comprehensive audit of the industry. Usman said the FAA team would focus its audit on Personnel Licensing, International Operations and Airworthiness, which he assured that the agency was fully prepared for. He stressed that the FAA team would be in the country for five days after which they would make their observations known through a report that would be sent to the authority after the exercise. Optimism According to Usman, “NCAA has done a lot in the areas that we are expected to cover and not only for this audit, in our statutory responsibilities: safety, aviation security and also regulations. We have the new civil aviation bill, which is on its way to the National Assembly. The bill is to enhance the current Act of 2006 and it is supposed to be in line with the new annexes of the International Civil Aviation Organisation Convention. We also amended our regulation, which is the 2015 Civil Aviation Regulation. “Re-organisation has also been going on to make sure the organisation continues to discharge its responsibilities as it should be, which is to be in line with ICAO. We want to continue to attract and retain qualified personnel in the industry in sufficient numbers to make sure we carry out the safety as required by ICAO.”

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS/ECONOMY

ICAN Economic Discourse Revisits 2017 Budget Olaseni Durojaiye reports on the discourse series recently held by the foremost body of professional accountants in the country, which brought together ﬁnancial experts to appraise the 2017 budget

hough, the 2017 budget of the federal government has since been signed into law and is being implemented by the various ministries and government agencies, the document has continued to generate discourse among stakeholders and experts. One of such sessions was hosted recently by the Institute of Chartered Accountants of Nigeria, with the theme, “2017 Budget: Tool for Economic Recovery and Growth.” Participants appraised the document in relation to the Economic Recovery and Growth Plan, 2017-2020. They also looked at how to make the budgeting process more timely and effective, with the ultimate goal of increasing budgeting efficiency and execution rate. ‘Trusted Partner’ In his welcome address, President of the institute, Malam Zakari, stated that the session was premised on ICAN’s role as a defender of the public interest and a trusted partner of governments, businesses, and society in a complex and challenging economic climate. According to Zakari,“Professional accountants are always expected and relied upon to play a critical and strategic role in bringing the much-needed stability to business and society. It is not surprising, therefore, that there is very high expectation by employers, clients, regulators, other enlightened stakeholders and, indeed, even ordinary,‘less informed’ Nigerian citizens, on all of us, Chartered Accountants, and the Institute of Chartered Accountants of Nigeria to contribute our knowledge and skills in getting Nigeria out of the woods. “It is against this backdrop that the institute organised this ICAN Economic Discourse Series with the theme: 2017 FGN Budget: Tool for Economic Recovery and Growth to explore the 2017 Federal Government Budget aimed at analysing it and Minister of Budget and National Planning, Senator Udoma Udo Udoma determining if its objectives of promoting recovery and growth of the Nigerian economy are achievable.” five budgets to be implemented during that period conditions. (2017-2021). These include the need to stabilise Sessions the macroeconomic environment, agriculture and Focus The technical session was chaired by former The government paid more attention to the food security, improve transportation infrastructure, finance minister, Chief Anthony Ani, FCA, while the guest speaker was chief consultant, B. Adedipe following sectors: infrastructure, agriculture, manu- energy sufficiency – power and petroleum products, Associates Limited, Dr. Biodun Adedipe. The facturing, solid minerals, real estate, medium and and industrialisation with focus on SMEs.” He observed that the seven specific objectives panellists were Professor Ndubuisi Nwokoma small enterprises, domestic refining of petroleum of the 2017 budget were to“expand partnership of the Department of Economics, University of products, and gas. with the private sector; focus on critical on-going Lagos; Professor Istifanus Zabadi of the Bingham infrastructure projects; build special economic zones Perspectives University, Karu, Abuja; and General Manager of Participants at the ICAN discourse offered different and industrial parks to accelerate innovation and DEAP Capital Management and Trust Plc, Mr. perspectives on the economic issues, including wealth creation. Implement the agriculture Green James Egbe. the need to revisit the budgeting process with a Alternative Plan; deepen the mortgage system with Social Housing Fund; stimulate growth of It would be recalled that the country’s economy view to making it timelier. Adedipe said,“There is evidence that the Nigerian SMEs; and provide social safety nets for the poor dipped into recession in 2016 and the business environment faced series of shocks arising largely economy is diversified.” He explained, “There is and vulnerable.” In his observations, Adedipe noted,“Recurrent from foreign exchange crisis, which severely af- a large variety of economic activities that go on fected operating cost, inflation and overall output. in Nigeria, each making tangible contributions expenditure represents a chunk of spending at Following the fall in crude oil prices, FX shortage to the GDP by the values they create. Non-oil 40.15%, dominated by personnel cost at (65%); became a major headline as the country could sector contributed 91.1% to GDP in Q1 2017, capital follows with 29.3%”of budget. He conceded that it was an improvement on previous budgets, not finance its rising import bills, while non-oil while the oil sector did only 8.9%.” According to him, “The six key contributors with debt service and provisions for payment of exports declined. Against the backdrop, many discussions were (totalling 76.55%) are: agriculture (21.35%); trade arrears to local contractors at N1.84 trillion is 24.74% held to examine how the Nigerian economy could (17.78%); Information Communication Technology of total expenditure, but 36.22% of FGN revenue. Speaking on the country’s rising debt profile, recover from the recession and return to the path (11.56%); manufacturing (9.74%); mining and of growth. Strategies were proffered by experts. quarrying (8.95%); real estate (6.32%). Summary a topic that had generated significant debate A common position that ran through many of puts agric at 21.35%, industries at 23.21% and among financial experts in the weeks preceding the submissions at the different forums was the services 55.44%. Agriculture and manufacturing the discourse, Adedipe said,“All debt ratios point at rising debt service and repayment burden. Not are strengthening.” need for fiscal stimulus. Adedipe stressed,“The real problem of the Nigerian worrisome now, but borrowings must be tied to On its part, among other responses, the federal government responded to this and other challenges economy is not diversification of economic activities. projects, long-term, at concessional rates and facing the country by putting together an Economic Rather, it is the fact that her foreign earnings are utilisation strictly monitored.” Adedipe also expressed concerns about the Recovery and Growth Plan, ERGP (2017-2020) not diversified, yet the country has persistently with the conviction that its implementation would remained a net importer of non-oil goods and budget act and implementation scheduling and change the story of Nigeria. Besides, the federal services, which has been added in recent years argued that the delay in the conversion of the government contended that the ERGP will move to the net importation of petroleum oil (excess Appropriation Bill into an Act was counter-productive the country from import dependency to increased of value of refined petroleum products over that and could hurt the efficiency and implementation non-oil exports, greater youth employment, im- of crude oil exported). The situation has been of the eventual budget. He added,“The promise proved business climate amenable to international compounded by low confidence in the system.” made during the presentation of budget 2017 Adedipe insisted in his presentation,“There are five to conclude the process at the beginning of the competitiveness, increased national and sectoral productivity, and significant improvement in living execution priorities that we should see reflect in the year, rather than half-year, should be sorted out

between the executive and legislature.” In his end notes, Adedipe stressed, “There is seeming correlation between investment in new/ renewed infrastructure, economic activities, government, especially tax revenue and tax compliance… “Underscoring all these is value-based budgeting as well as transparency and accountability in budget implementation.” He maintained, “This is how to ensure that the 2017 budget of the Federal Government of Nigeria truly serves as implementation tool for the ERGP and drives the turnaround of the Nigerian economy to avoid a ‘double-dip’ i.e. reverse into a second recession. Again, the government has been engaging with the private sector and other stakeholders on its fiscal operations, and this should be continued. Whatever will strengthen stakeholder engagement and feedback should be actively encouraged. “Real implementation resides with those entities that are impacted, and largely on how they respond to those policies. If they comply, the policy succeeds. If they cut corners, the policy fails! Only transparency can strengthen this.” He emphasised the need for country to continue to push for performance-based budgeting, and reiterated that the major benefits of doing so were improved achievement of public programme objectives, better alignment between programmes and policies, and emphasis on holding senior officials accountable for deliverables in their line ministries. Monetary/Fiscal Policy Breakdown In his paper, Ani stated,“Recession is essentially caused by severe breakdown to fiscal or monetary policy. In 1995 it was caused by the breakdown of fiscal policy and in 2017 it was caused by a breakdown of monetary policy and in both cases lack of coordination between fiscal policies (Ministry of Finance and Ministry of Planning) and monetary policies (CBN) both of which must work in tandem.” He maintained that the latest recession was caused chiefly by, “Breakdown of our monetary policy, indiscipline and ineffective banking supervision. An attempt to implement monetary policy without correlation with sound fiscal policy led to profligacy in foreign exchange spending. Our policy makers were carried away to trade our naira denominated bonds in international market, thus, leading to volatility and instability in our exchange rate management. We were forced by J.P Moagan, United States President and IMF to devalue and thereafter IMF insisted on a further devaluation by way of flexibility. Thus, our currency was over devalued. The IMF flexibility chorus was orchestrated by the ‘There is no alternative (TINA)’ Yesmen in Nigeria.” Drawing from his experience in government, the former finance minister stated,“In view of my experience of the revenue budget of the Babangida years, I always like to review all budgets starting with the composition of revenue.” While lamenting the non-availability of correct oil revenue for 2017 “because no information as regards Nigeria’s Joint Venture Contribution (JVC) towards our equity oil is available,”he stated,“The key assumptions for the 2017 budget shows an oil production of 2.2 mbpd at a benchmark price of USD 42.5/b with an exchange rate of N305/US$. “There was no mention of gas revenue in the assumption, even though Nigeria is the world’s sixth biggest producer of LNG. In 2013, we produced and exported 25 billion cubic meters of LNG. Other major producers of LNG are Qartar, Trinidad, Malaysia Australia, Russia, Indonesia and Oman. I am sure the gas revenues are part of the national budgets of these countries. By calculations, if our LNG exports, were converted to oil, our revenue from gas would be about $8 billion (N3 trillion) in terms of PPT and royalties. I have only seen a paltry N30 billion as LNG revenue in the 2017 budget. “At least we should properly account for LNG revenue after the heavy investment we have made in the project.”

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS/ECONOMY

Gains of Niger State Investment Summit Laleye Dipo looks at the first Niger State economic summit held recently in Minna, which drew prominent entrepreneurs and political leaders from across the country to the North-central state with the theme: ‘Impact Investing for Advancing Agricultural Economy and Innovation’

or two days, prominent political leaders, captains of industry, members of the organised private sector, top civil servants, especially those that manage the economies of the states, and people from all walks of life brainstormed at the Justice Idris Legbo Kutigi International Conference Centre in Minna. Their focus was how to move Niger State forward, transform it economically, and make it less dependent on monthly hand-outs from Abuja. Who’s Who The attendance was like a roll-call of Nigeria’s most prominent business, political, and traditional elite.They included Vice President Yemi Osinbajo, then acting president, who declared the summit open; former President Olusegun Obasanjo; former military Head of State, General Abdulsalami Abubakar; Minister of Agriculture, Chief Audi Ogbeh; former Chief of Army Staff, Lieutenant General Mohammad Inuwa Wushishi (rtd); and the governors of Sokoto and Adamawa states, Aminu Tambwal and Bindo Jubrilla, respectively. The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, and the Etsu Nupe, Alhaji Yahaya Abubakar, led prominent traditional rulers from across the country to the summit. Focus on Agriculture Niger State has about 10 per cent of the total landmass of Nigeria, which is arable and believed to be suitable for the cultivation of virtually all food and cash crops. How to use this God-given resource to transform the economy of the state and take it to a level where it can provide employment for the huge youth population in the state was the centre of discussion at the summit. “At last the hen has come home to roost in the sense that agriculture is taking a centre stage in Nigeria,”Abubakar declared in his address. He said in the next 33 years the global population will hit nine billion mark, with Nigeria having at least 5 per cent of the population, a development that will make food“a serious challenge… “This is why this summit is coming at a right time in our national history.” In his own speech, Obasanjo said, “If there is anything that will take Nigeria out of recession it is agriculture.” Interest Rate The two former leaders were unanimous that commercial banks in the country should join in the crusade to transform agriculture by reducing the interest rates charged on agricultural loans, which currently stand between 18 per cent and 25 per cent. They agreed that commercial banks were out to make profit but for agriculture to witness the type of change that will impact positively on the state and national economies, the interest rate on agricultural loan should not exceed 2.5 per cent. “Double digit interest rate is to promote failure, Obasanjo declared. He went further to challenge the commercial banks that co-sponsored the summit to go beyond mere rhetoric and make categorical promises that they could be held accountable for at the next summit. Power Uninterrupted electricity supply and good rural and urban roads are critical in the economic and industrial developments of the agricultural sector, Obasanjo and Abubakar also said. Obasanjo advised members of the National Assembly to stop diverting funds meant for road construction to constituency projects while carrying out their constitutional duties of approving the national budgets. Chairman of the North South Electricity Company, Alhaji Ibrahim Aliyu, speaking in a similar vein, said the problem with electricity supply in the country was distribution, not generation of electricity. “We can generate enough electricity for Niger State and Abuja 24 hours a day and for seven days a week,

Osinbajo and Bello at an exhibition stand during the summit

the problem is distribution,”Aliyu stated. He said the Distribution Companies and Generation Companies – Discos and Gencos, respectively – in the country recently met with the federal government on how to improve electricity supply nationwide. “The meeting was fruitful, all the grey areas were identified and steps are already being taken to correct identified problems,”he said. Gains Perhaps, the first gain to be recorded by Niger State as a result of the summit is the decision of the federal government to collaborate with the state government in agriculture. Osinbajo, who announced the collaboration, said the federal and Niger State governments will cooperate and execute a plan that will make the state the hub for the cultivation and export of food to at least 50 per cent of Africa countries. The vice president said Niger State could feed the whole of Africa because of its vast arable land. “Agriculture is the surest way of diversifying our economy. Our development is not in hydrocarbon; our problem is how to translate our vast agricultural resources to wealth.”Osinbajo stated. Roads The vice president said the Minna- Suleja road, which has become a nightmare to motorists and continues to hinder free movement of agricultural goods and other services, was receiving serious attention. Completion of the dual-carriage road, which the federal government has promised, will enable small and big-time farmers and other investors to move their goods to“the readymade market in Abuja and other cities in the country,”he said.This will also make potential investors to tap the favourable investment climate already created by the state government. Ease of Doing Business As part of the steps taken to open up the state to investors, the government has reduced the cost

of obtaining land titles for both local and foreign investors and other land owners by about 95 per cent. Obtaining Certificate of Occupancy in the state capital for any type of land now costs just N15, 000 while in the local government areas it costs only N5, 000. Besides, developers and other entrepreneurs would wait for only three weeks to obtain this vital document. The new policy will also rub off on local farmers as well as small and medium scale business men and women in that with the C of O they will be in a position to access government loans to boost their businesses. Similarly, the Niger State government is creating well serviced industrial parks in Minna, Suleja, Kontagora, and Bida to make the establishment of industries easier. All this, coupled with the fact that the state is a major link between the southern and northern parts of Nigeria, and is among the most peaceful states in the country, have made it a major attraction for investors. The governor, Abubakar Sani Bello, stated at the summit, “Niger State being a pioneer member of the Global City Indicator Facility (GCIF) programme and foundation member of the World Council of City Data (WCCD), our urban renewal policy is on course in all major towns of the state. “Similarly, we are fixing some critical infrastructure in the state: we have carried out massive township, inter and intra city/rural roads “As part of efforts to reposition the state for investment, we have expanded access to good quality healthcare service.” The state government, according to Bello, has “reinvigorated the activities of micro, small and medium scale enterprises to promote private sector development in the state’s economy.”He said 5, 000 youths had been trained to be self-employed. As a result of the favourable investment climate created by the Niger State government over the years, the state is now rated sixth in the World Bank Doing Business Report. “Our target is to be rated among the first three

states in the next World Bank Doing Business Report expected to come out next year,”Bello said. Investment The Dangote Group has acquired 116,000 hectares of land in two local government areas of the state for the cultivation of rice and sugarcane. Executive Director of the group, Alhaji Mansur Ahmed, who disclosed this at the summit, said 16,000 hectares of land in Lavun Local Government Area would be for the planting of rice while sugarcane would be cultivated on the remaining 100,000 hectares in Lapai Local Government Area. Not less than 27,000 workers, including out growers, would be engaged in the next 15 weeks when the scheme will take off, Ahmed revealed. He said not less than 160,000 metric tonnes of sugar will be produced by the sugar factory to be established near the sugarcane plantation, adding that $450 million would be invested in the state before the end of the year. Agri-city Another benefit of the summit is the signing of a memorandum of understanding between the state and Afro- Investment Consortium for the construction of an agri-city at Tegina in Rafi Local Government Area. Under the MoU, 42,000 hectares of land has been allotted to the consortium for the construction of not less than 4, 200 housing units, apart from the establishment of farms. Executive Chairman of the consortium, Mr Chinedu Nbakwe Obi, signed the agreement for his firm while the Secretary to the Government of Niger State, Alhaji Isa Ladan, signed for the state government. Obi said after signing the agreement that about $3.2 billion would be spent on the project and that the ground breaking will take place in six months’time. The signing of another MouU with Dangote Group was put off as a result of the absence of the Chairman and Chief Executive of the Group, Alhaji Aliko Dangote. The MoU is expected to be signed soon, according to the organisers of the summit.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BUSINESS/LABOUR

Slaves in their Country: Exodus of Nigerians from StarTimes Sparks Debate In what they attributed to racial discrimination, ﬁve top Nigerian staff and others have in recent times resigned from the Chinese-owned pay-television company, StarTimes. In this report, Raheem Akingbolu digs into the issues behind their resignation

Some of the aﬀected staﬀ and members of Team StarTimes before a novelty match against journalists in Lagos last year…when the going was good

n July 29, 2010, StarTimes entered the Nigerian broadcasting industry through a joint venture between StarTimes, a China pay TV company, and NTA-Star TV Network Ltd. The brand promise at the inception was that the new platform would democratise the pay TV industry and give Nigerians, who had been denied affordable entertainment, an unlimited access to enjoyable and affordable pay TV. It was cheering news. Nigerians were excited. They celebrated the arrival of what they thought would change their entertainment world in their various homes and places of work. Discrimination But for some Nigerians, who were perhaps privy to the relationship between some Chinese firms in Nigeria and their workers, the offering was seen as a Greek gift. Those who nursed this sentiment were always quick to refer to what was tagged“voluntary slavery”in Chinese companies, where Nigerians earn between N10, 000 to N15, 000, monthly. Seven years down the line, those who expressed the fear appear to have been vindicated. Barely a year after the company was established, some Nigerians within complained that they were not accorded the same respect as their Chinese counterparts. Among other things, they claimed that Nigerian top engineers, regardless of their positions, didn’t have access to some places in the company, especially the server room. Among stakeholders in the broadcast industry, there was also a campaign in the early days of the company to highlight an allegation that the joint ownership of the company was a mere smokescreen. Even though the company’s DTT/ antennal Pay TV model runs on transmitter based stations available in NTA offices nationwide, Nigeria is believed not to be getting much in return. Mass Resignation Recently, the bubble finally burst at the Chinese-

owned pay television company following the resignation of many Nigerian staff over alleged racial discrimination and anti-labour policies. Sources in the company disclosed that no fewer than five Nigerians in senior management positions and many middle-level managers recently resigned from the company over complaints of ill-treatment by their Chinese bosses, especially the chief executive officer, Mr. Justin Zhang. Among those who have resigned, sources disclosed, are former National Sales Director, Mr. John Esoimeme; Marketing Director, Dare Kafar, and Head of Public Relations, Israel Bolaji. Others are Marketing Manager, Habeeb Somoye, and Content Marketing Manager, Ayokunle Idowu. Bolaji has since joined Caritas Communication Limited, a public relations firm, while Somoye has moved to Gionee, a mobile company. A major complaint of Nigerians in the company is the disparity in the conditions of service, including remunerations. A Nigerian, who joined the company as a university graduate seven years ago said 80 per cent of Nigerians in the company had not benefited from any significant promotions and pay rises in the last five years. The staff, who did not want to be named, said beneficiaries of significant promotions and pay rises were those in the habit of spying on their colleagues and passing on information to their Chinese bosses. She said,“These are issues we have been battling for years. Even the Nigeria Labour Congress once picketed StarTimes office in Lagos over anti-labour practices. Nigerians are really treated poorly here compared to their Chinese counterparts. There are sharp differences in salaries, working conditions, and benefits, such as insurance policy and promotions. Arbitrary demotion of Nigerians is also a common practice. The company is simply bereft of corporate governance.” Intolerance Aside from the gulf in service conditions/ remunerations, Nigerian staff of the company also complained that their compatriots in senior management positions were treated with contempt by the CEO, the reason they have been resigning

one after the other. Zhang, the CEO, is said to be intolerant of opposing views and in the habit of sacking Nigerians on the spot whenever they offer a dissenting position. A major victim of Zhang’s intolerance was said to be Mr. Olumide Olawuyi-Oke, described as a brilliant sales manager. He was relieved of his appointment on September 18, 2016 after disagreeing with Zhang during a management meeting. The CEO was said to have summoned him to his office after the meeting and announced to him that his services were no longer required. A female employee in the Dealer Sales Department said the Chinese bosses had a very low opinion of Nigerians in the company and were always boasting that if they resigned, other Nigerians will happily replace them, as the country’s unemployment situation made the company attractive. She equally claimed that most of the Chinese bosses were less qualified and experienced than Nigerians, who work under them. According to her, it takes as few as three months after employment for a Chinese to be appointed a director overseeing better qualified and more experienced Nigerians. Esoimeme, the former National Sales Director, was said to have resigned because he was demoted to the position of Regional Sales Director and transferred to Kaduna to create space for two Chinese employees, Mr. Thunder Lei and Mr. Boby Wang, both of whom joined the company less than a year before. Lei and Wang, both appointed National Sales Directors, reported to Esoimeme before his demotion-induced resignation. The demotion was said to have had the full blessings of the CEO who, as Vice President, Marketing/General Manager of the Lagos office, was considered better for the top job than his predecessor, Mr. Jack Liu, who was viewed as too soft. A former employee said the company was akin to an ethical free trade zone complete with fraud and deep-seated racism. Many Chinese employees of the company, he said, had neither the required immigration papers for residence nor professional licences/locally required certificates to perform their local roles in Nigeria. Zhang, he said, was

Vice President (Marketing) for over three years without Advertising Practitioners Council of Nigeria certification, licence or membership, a reason for which he was queried by the body. The former employee, who worked with StarTimes for five years, said Chinese employees, fresh from the university, enjoyed meteoric rise, while Nigerians were left to stagnate. Those who get promoted to top positions, he explained, had neither power nor influence, as only Chinese call the shots. “For instance, every January, the Chinese bosses travel to China for their New Year festivities,” he alleged.“Before they travel, they would announce a junior Chinese staff to run the company in their absence, despite having Nigerian directors. No structure, no hierarchy.” In December 2015, Mr. Berlin, the Logistics Manager in Lagos, was announced as the acting General Manager of the Lagos office by Mr. Zhang, then Vice President of Marketing, placing him above two Nigerian directors, Kafar and Esoimeme. StarTimes’ Reaction But in a statement titled “StarTimes remains a responsible organisation, best place to work,” the company denied the allegations. The statement, which was issued by its public relations manager, Kunmi Balogun, stated that at no time had there been racism or tension among staff of the organisation. The statement said those who claimed to have left due to discrimination voluntarily resigned their positions in line with the exit procedure as encapsulated in their letters of employments. Balogun stated, ‘’We would like to reaffirm that, as responsible corporate citizens, we remain committed to growing and developing our people in line with our core values while delivering impeccable entertainment at unmatchable rates to our customers.” Many feel that the Federal Ministry of Labour and Employment and the Federal Ministry of Information and Culture should intervene to determine the true position of things in StarTimes with a view to ensuring compliance with all ethical and labour standards.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

NIGERIA’S TOP 50 STOCKS BASED ON MARKET FUNDAMENTALS

CUSTODIAN AND ALLIED PLC: Impressive performance as economy stabilises

ustodianandAlliedPlc (Custodian)recentlyreleasedits financialstatementforperiod ended,30thJune,2017which showsan impressivegrowthin grossrevenueandprofitability fortheperiod. CustodianandAlliedPlcisthe ultimateholdingcompanythatresultedfrom thesuccessfulmergerofCustodianandAllied InsurancePlcandCrusader(Nigeria)Plcin2012. CustodianandAlliedPlcwasincorporatedin 1991as aPrivateLimitedLiabilityCompany underthename,AccidentandGeneralInsurance CompanyLimitedwhichwaschangedto CustodianandAlliedInsuranceLimitedin1993, andlaterconvertedtoaPublicLimitedLiability Company(PLC)in2006.Again,byaSpecial ResolutiontheCompany’snamewasnow changedtoCustodianandAlliedPlc,approved by theCorporateAffairsCommission(CAC)on March20,2013. Custodiandelightsitsinvestorsbyconsistently payingdividendeveryyear;usuallypaidatthe endof thefinancialyear.Forthefullyearended, December2016,Custodianpaidatotaldividend per share(DPS)ofN1.47billion(onthebasisof N0.25pershare)forevery50koboshare. NOTABLE GROWTH IN GROSS REVENUE For theperiodended,June30th2017,Custodian grewgrossrevenuebyanimpressive15.60% toN19.80billionfromN17.13billioninthe correspondingperiodof2016.Therisein revenuewaslargelyonthebackof5.35%rise ingrosspremiumincometoN14.19billionfrom N13.47billionrecordedintheprecedingperiod ended,June2016.Grossrevenuealsoreflects massiveriseof93.14%riseininvestment incometoN3.11billionfromN1.61billionoverthe sameperiod;whilefeesandcommissionwhich grewby27.73%toN1.61billionfromN1.25billion duringtheperiodunderreview. Thecompany’sstrictadherencetoprudent underwritingguidelinesledtosuccessful bolsteredrelationshipswithexistingandnew clients whichdrovethegrowthinpremium incomeovertheperiod.Theinsurancecompany continuestoleverageonitstrustedbrand, responsiveservicetoclients,anddevelopment ofmutuallybeneficialpartnershipstodeliver qualityinsuranceservicestoclients. TheCompany’searningswasfurtherbuoyed by anincreaseof38.58%innetfairvaluegains/ (losses)fromfinancialassetswhichclimbedon thebackedofpositivechangesinfairvalueof quotedinvestments.Also,disposalofequity securitiesreversesitsN25mcomparedtothe correspondingperiodof2016.Withrespect toinsurancebenefitsandclaimspaidout,the reinsurer’sinsuranceclaims,netclaimsandunde CUSTODIAN AND ALLIED PLC (Custodian)recentlyreleaseditsfinancial statementforperiodended,30thJune,2017 whichshowsanimpressivegrowthingross revenueandprofitabilityfortheperiod. CustodianandAlliedPlcistheultimateholding companythatresultedfromthesuccessful mergerofCustodianandAlliedInsurancePlc andCrusader(Nigeria)Plcin2012.Custodian

WE EXPECT THAT CUSTODIAN AND ALLIED PLC AS A HOLDING COMPANY HAS AN OPPORTUNITY TO DELIVER HIGH LEVEL OF PRODUCT INNOVATIONS, OPERATIONAL EXCELLENCE AND CREATE AN OPPORTUNITY FOR EXPANSION TO DEEPEN ITS MARKET WHICH WOULD SIGNIFICANTLY BOOST PERFORMANCE BEYOND CURRENT RESULTS

andAllied Plcwasincorporated in1991as aPrivate Limited LiabilityCompanyunder thename,Accident and General Insurance CompanyLimited whichwaschanged to Custodianand Allied Insurance Limited in1993, andlater converted to a PublicLimited Liability Company(PLC) in2006.Again,bya Special Resolutionthe Company’sname wasnow changed to Custodianand Allied Plc,approved bytheCorporate AffairsCommission(CAC) on March20,2013. Custodiandelightsitsinvestorsbyconsistently payingdividend everyyear;usuallypaid at the endofthe financial year.For the full year ended, December 2016,Custodianpaid a total dividend pershare (DPS) of N1.47 billion(onthe basisof N0.25per share) for every50 kobo share. NOTABLE GROWTH IN GROSS REVENUE Fortheperiod ended,June 30th2017,Custodian grewgrossrevenue byanimpressive 15.60% toN19.80 billionfrom N17.13billioninthe corresponding period of 2016.The rise in revenue waslargelyonthe backof 5.35%rise ingrosspremium income to N14.19 billionfrom N13.47billionrecorded inthe preceding period ended,June 2016.Grossrevenue also reflects massiverise of 93.14%rise ininvestment incometo N3.11billionfrom N1.61billionover the sameperiod;while feesand commissionwhich grewby27.73%to N1.61billionfrom N1.25billion duringthe period under review. Thecompany’sstrict adherence to prudent underwriting guidelinesled to successful bolstered relationshipswithexisting and new clientswhichdrove the growthinpremium incomeover the period.The insurance company continuesto leverage onitstrusted brand, responsive service to clients,and development

of mutuallybeneficial partnerships to deliver qualityinsurance services to clients. The Company’searnings was further buoyed byanincrease of 38.58% in net fair value gains/(losses) from financial assets which climbed onthe backed of positive changes infair value of quoted investments. Also, disposal of equitysecurities reverses its N25m compared to the corresponding period of 2016.Withrespect to insurance benefitsand claimspaid out, the reinsurer’s insurance claims,net claims and underwriting expensesfor the period form the operating expenseswhichincreased by 14.69% to N12.80 billionfrom N11.16 billion reported in the corresponding period of 2016. PROFITABILITYSURGES ONTHE BACK OF OPERATIONAL EFFICIENCY Finance cost for the period ended, June 2017 increased erodesitsN71m loss recorded in the corresponding period of 2016. Impressive growthingrossearnings and other assets over general cost upsurge led to rise in the Company’sprofitability as pre-tax profit rose by30.15%to N4.73billion in June 2017 from N3.63billioninJune 2016. Income tax deductionfor the period ended rose moderatelyby23.67%,to N920m from N744m inthe corresponding period of 2016. Hence,a spike innet income as it records 31.82%growthto N3.81billion from N2.89 billionover the same period. ASSETQUALITYREFLECTS PROFITABILITYGROWTH The Company’sbalance sheet shows sizable positive changesintotal assets, net assets and total liabilitiesasat June 2017, when compared to year ended December 2016. Total assetsgrewby11.54% to N75.62 billion from N67.79 billioninDecember 2017.The key driversof the Company’s total assets includes anextraordinary2863.86% increase in trade receivablesto N1.83 billion from N62m; 66.60%increase indeferred acquisition costs to N741m from N444m and a 49.23% rise in other receivablesand prepayments to N1.09 billionfrom N730m asat December 2016. Intermsof obligations,the Company’s total liabilitiesrecorded a notable growth of 13.133%to N42.65billion for the period ended, June 2017 from N37.70 billion as at December 2016.Liabilitieskeydrivers entails insurance contract liabilitieswhichincreased by 14.69% to N30.51billionfrom N26.60 billion and trades payable whichrose bya significant 39.85% to N3.89 billionfrom N2.79. Expectedly, the company’snet assetsgrew by moderately 9.55%to N32.97 billionfrom N30.09 billion during the peiod under review. Moreover,withrespect to returns, the company’sreturnonaverage equity (ROAE) stood at 12.07%while return on average assets(ROAA) followed suit as it rose slightly to 1.33%. WE PLACE A BUYRECOMMENDATION AS POTENTIAL REMAINSVAST We expect that Custodian and Allied Plc as a holding companyhasanopportunity to deliver

Valuation Metrics 25-Aug-17 Recommendation

BUY

Target Price

4.29

Current Price (N)

3.42

Outstanding Shares (m)

5,881.86

Market Cap (N'm)

20,586.52

Rolling EPS (N)

1.09

Rolling PE Ratio

3.13x

Forward EPS

1.52

Forward PE Ratio

2.25x Source: BGL Research, NSE Data

Half-Year June 2017 Unaudited Results Turnover (N’m)

19,798

Proﬁt Before Tax (N’m)

4,726

Proﬁt After Tax (N’m)

3,806

Pre-tax Margin (%)

23.87% Source: Company Data 2017, BGL Research

FYE December 2016 Audited Results Turnover (N’m)

38,554

Proﬁt Before Tax (N’m)

7,390

Proﬁt After Tax (N’m)

5,331

Pre-tax Margin (%)

19.17%

Source: Company Report 2017, BGL Research

Shareholding Information Shareholders

% Holding

Mikeade Investment Limited

15.72%

Rocknet Nigeria Limited

6.51%

Abraaj Nig. Advisers Limited

5.92%

Stanbic Nominees Nigeria Ltd

6.59%

Free Float

65.26% Source: Company Report 2017, BGL Research

high level of product innovations, operational excellence and create an opportunity for expansion to deepen its market which would significantly boost performance beyond current results. Also, the Company’s management has shown effectiveness in managing its expenses to curtail such impact on further earnings towards a better shareholders return. Based on our review of the Company’s financials, we revise both our projected gross earnings to N53.94 billion and net earnings to N7.41 billion for financial year end, December 2017.This leads to a forward EPS of N1.52. Using a relative Price to EarningsValuation (PE) and Net AssetsValuation method, we arrive at a 6-month target price of N4.06. Since this represents an upside potential of 25.44% on the current price, we therefore place a BUY recommendation on the shares of Custodian and Allied Insurance Plc.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

NIGERIA’S TOP 50 STOCKS BASED ON MARKET FUNDAMENTALS

GuarantyTrust Bank Plc: Remarkable half-year performance points ahead

uarantyTrust Bank Plc (GTBank) is an internationally focused commercial bank providing a range of banking products and services to corporate, commercial, and retail customers in Nigeria, West Africa, and Europe.The company focuses on acquiring and managing strategic businesses that create long term shareholders’ returns and socioeconomic impact. The Bank’s management recently released its audited half-year result for the period ended June 30th 2017. The performance metrics shows substantial positive growth in revenue and profitability compared to the corresponding period of 2016 as the economy finds a stable business terrain through the CBN intervention in meeting the high foreign exchange demand. Also, Nigerian Bureau of statistics shows a declining inflation. The Directors recommend the payment of interim dividend of N0.30k per ordinary share of 50 Kobo in the current financial year, 2017. TOP-LINE EARNINGS ROSE MODESTLY

GuarantyTrust Bank Plc posted an increase of 2.01% in gross earnings to N214.10 billion in June 2017 from N209.87 billion in the corresponding period of 2016.This is a deviation from the Bank’s regular growth believed to arise from non-interest income which reflects a massive drop of 76.45% in other income. Interest income grew by a significant figure of 51.11% to N165.88 billion compared to N109.78 billion recorded over the same period of 2016. Interest expense on the other hand grew by 18.54% to N36.35 billion in June 2017 from N30.66 billion recorded in June 2016.The high and constant interest rate environment throughout the period and an unchanging Banks’ Cash Reserve Ratio (CRR) resulted in increase in competition for deposits amongst banks but GTBank was able to manage its interest expense. Expectedly the bank’s net interest income grew notably by 16.60% to N83.68 billion in June 2017 from N71.77 billion in the corresponding period of 2016. OTHER INCOME AND FEES EARNED LEADS TO SIGNIFICANTDECLINE IN NON-INTEREST INCOME

The Bank reported non-interest income of N48.21 billion for the halfyear ended, June 2017 from N100.09 billion recorded in the corresponding period of 2016; reflecting a substantial decline of 51.83%.The performance indicates that fee and commission

WHILE THIS POLICY AIMED AT CONTROLLING MONETARY LIQUIDITY IN THE ECONOMY FORESHADOWS NEGATIVE IMPACT ON THE BANKS’ OPERATIONS, THE BANK’S MANAGEMENT IS CAPABLE OF INCREASING PERFORMANCE THAT WILL FURTHER STRENGTHEN EARNINGS, INCOME GENERATION CAPACITY WHICH INCLUDES NONINTEREST INCOME AND GROWTH IN LIQUIDITY BASE

dropped by 22.26% on the back of substantive decrease in income generated from e-business products and services - which suitably replace the phased out Commission on Turnover (COT) by the CBN – and transfer related charges which decreased by 61.37% and 46.35% respectively. Also, other income decreased by 76.45% to N14.52 billion from N61.67 billion. Boosting profitability is increase in net gains on financial instruments classified as held for trading which rose by 141.38% to N5.66 billion from N2.35 billion over the period reviewed. NOTABLYGROWTH IN PROFITABILITY

The Bank’s well venerated operational efficiency is a tradition that GTBank strongly upholds.The Bank has been able to consistently sustain its effective cost management strategies

and hence profitability. Despite running a leaner branch network compared to its peers, the Bank conveniently generates more competitive profit year after year.This renowned efficiency is also sustained in the period under review as the Bank grew operating expenses by a 23.98% to N67.83 billion from N54.71 billion recorded in 2016. The growth in non-interest income steered profitability higher.Thus, pretax profit grew notably by 17.99% to N101.10 billion in June 2017 from N85.69 billion in in the corresponding period, June 2016, while net income grew by 16.60% to N83.68 billion from N71.77 billion over the same period. IMPROVEMENTIN ASSETQUALITYAND KEYFINANCIAL METRICS

GTBank maintained its leading position in terms of margin and cost efficiency. Pre-tax profit margin rose to 47.22% from 40.83% over the period while net income margin also followed suit with an increase to 39.08% from 34.20% during the same period. In addition, the Bank’s cost to income ratio also rose marginally to 40.00% in June 2017 from 39.00% in June 2016. At 48.52%, the Bank’s liquidity ratio remains above the minimum regulatory requirements of 30% while capital adequacy ratio becomes stronger at 23.10%, well above the regulatory requirement of 15%. In relation to assets quality, nonperforming loan (NPL) ratio drop to 3.71% in June 2017. Furthermore, the Bank shareholder’s fund improved by 6.55% to N538 billion in June 2017 from N504.90 billion as at December 2016.The Bank’s return on assets and shareholders’ equity rose remarkably. Return on average asset (ROA) stood at 2.59% in June 2017 while return on equity (ROE) stood at 15.55% over the period under review.

Valuation Metrics 18-Aug-1730.57 Rating

BUY

Target Price (N)

45.49

Current Price (N)

37.01

Market Cap (N'm)

1,091,896

Outstanding Shares (m)

29,431

Rolling EPS (N)

4.90

Rolling PE Ratio

7.57x

Forward EPS

5.91

Forward PE

6.28x Source: NSE Data, BGL Research

Audited Half-Year Results 2017 Gross Earnings (N'm) Proﬁt Before Tax (N'm) Proﬁt After Tax (N'm) Pre-tax Margin (%)

214,098 101,101 83,679 47.22%

Source: Company Report 2017, BGL Research

FYE December 2016 Audited Results Gross Earnings (N'm) Proﬁt Before Tax (N'm)

414,616 165,136

Proﬁt After Tax (N'm)

132,281

Pre-tax Margin (%)

39.83% Source: Annual Report 2016, BGL Research

Shareholding Information Shareholders

% Holding

Citibank Nigeria (GDR) Stanbic Nominees

10.07% 30.64%

Public Float

59.29%

Outstanding Shares (m)

29,431.17

Source: Company Report 2017, BGL Research

BRIGHTOUTLOOK LEADSTO BUY RECOMMENDATION

The CBN’s foreign exchange policies have resulted in stabilizing the economy as foreign exchange currencies become readily available and predictable. Hence, inflation has dropped for five months consecutively to a rate of 16.01% in June 2017.The CBN has maintained the CRR at a high level with a view to maintaining price stability. Despite the regulatory headwinds prevalent in the previous year which saw inflation soar to 17.70% as at September 2016 from 9.4% a year ago, MPR holds stance at 14% and the CRR on all public sector deposits at 22.5%.While this policy aimed at controlling monetary liquidity in the economy foreshadows negative impact on the banks’ operations,

the Bank’s management is capable of increasing performance that will further strengthen earnings, income generation capacity which includes non-interest income and growth in liquidity base. We maintain our projection of N469.34 billion for gross earnings and net income of N159.60 billion for the financial year ending December 2017, leading to a forward EPS of N5.91. Using an adjusted industry price to earnings multiple (PE) of 10.06x, we arrive at a six-month average target price of N45.49. Since this represents an upside potential of 22.60% on the current stock price of N37.01, we therefore recommend a BUY.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

TRAVEL

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

NTDC Amendment: Funding, Standalone Tourism Ministry and other Matters Demola Ojo

there (upon assumption of ofﬁce),” he said. Reacting to the concerns surrounding the proposal for a Tourism Development Fund from a Tourism Development Levy he said, “It is not a new tax. The proposal is for a percentage of the 50 USD already being charged on airline tickets to be set aside for the fund.” He also threw more light on the proposed tour company which he says is already in existence as the National Tourism Bureau. “The Bureau has been in existence since 1992. It is a small department of between 15-20 people and they already conduct tours. They take visitors of the foreign ministry for example, around Abuja.” According to THISDAY checks, Section 5 of the NTDC Act of 1992 states: (1) The Corporation may set up a tour operating company to be known as the National Travel Bureau (in this Act referred to as “the Bureau”) to operate tour services within and outside Nigeria. (2) The Corporation shall operate the Bureau on a commercial basis that is to say, it shall ensure that the revenue accruing to the Bureau from services provided by the Bureau are not less than sufﬁcient to meet the total cost of providing these services.

enultimate Thursday, the Senate Committee on Culture and Tourism held a one-day public hearing on a bill to amend the Nigerian Tourism Development Corporation Act which was enacted in 1992. Before getting into the nitty-gritty, it is important to note that this is the second time in a few weeks that the Senate has proposed an amendment to an Act setting up an agency in the tourism sector, the ﬁrst being the NIHOTOUR Bill. So in spite of the unfortunate act of bundling the tourism ministry with (or more accurately, under) the Information ministry, there are ongoing efforts to make it count and pull its weight as an alternative source of revenue for the Federation’s coffers. Chairman, Senate Committee on Culture and Tourism, Senator Matthew Urhoghide, sponsor of the Nigerian Tourism Development Authority, (NTDA) Act N137 LFN, 2004 (Repeal and Enactment) Bill 2017 (SB 429), pointed out in his speech that “…the act which established some of these agencies under our purview exist without any law to back their existence. All we are doing is to provide for those that do not have and amend those acts which do not allow such agencies to operate to meet with set objectives and to generate revenue to do so.” He continued that since the enactment of the NTDC Act of 1992, it has not gone through any form of review or amendment despite several years of socio-political and economic changes in the country. “The Act like most laws made under the military regime is characterised by so many inadequacies and shortcomings and we will be doing the country evil if we do not review, amend and enact a new set of laws which are in consonance with global trends,” he posited. A few parts of the Bill have been highlighted and debated among various bodies and stakeholders in the tourism industry. A few of them include regulation, source of funding for the Corporation/Authority and its operation of a tour company. The Federation of Tourism Association of Nigeria (FTAN) presented its own dissenting views right there on the ﬂoor of the senate.

Urhoghide

Some of its reservations have been reechoed. In relation to funding, FTAN kicked against the sections on Tourism Development Fund (TDF) and Tourism Development Levy (TDL). “These two put together, clearly shows that NTDC wants to muzzle everyone in the country, including corporate businesses and tourists, which among others it is proposing to pull money from.” There has also been opposition to the “establishment” of a tour company which some of the players have described as the

NTDC setting itself up in competition against the bodies it should be protecting. “We’re fortunate to have a forward-looking senate,” said NTDC Director General, Folorunsho Folarin-Coker during a chat with THISDAY. Reiterating that the Bill is at the instance of the Senate Committee on Tourism, he encouraged those with reservations to research more and ask questions concerning any grey areas, rather than denounce it in totality. For him, there are no personal beneﬁts but rather, institutional ones. “I met the Bill

Standalone Ministry Despite not being one of the issues up for discussion at the Senate hearing, the call for a standalone Tourism and Culture ministry was again deafening due to an act of omission by the current Minister of Information and Culture, Alhaji Lai Mohammed, who was conspicuously absent. Expressing his frustration, Senator Urhoghide said: “There is no recognition given to the culture arm of this ministry.”According to the committee, the Minister’s non-appearance (and the fact he didn’t send a representative) speaks volumes of the ministry’s disposition to culture and tourism matters. Worried by the attitude, Senate President Bukola Saraki, represented by Deputy Senate Leader Senator BalaNa’Allah, called for the separation of tourism from the Information Ministry. With the robust debate from all sides on the ﬂoor of the senate as well as the subsequent public scrutiny, the next hearing of the NTDA Amendment Act can’t come soon enough. Along with it, those pushing for progress within the industry as well as proponents of a tourism ministry might all get their wish.

Nigeria to Host World Design Congress In recognition of its remarkable growth in recent years, the Interior Designers Association of Nigeria (IDAN) has been saddled with the task of organising the 2017 edition of the prestigious World Design Congress/ General Assembly by the International Federation of Interior Architects/Designs (IFI). The Congress, which will hold in November, will see hundreds of design professionals from about 110 countries converging on Nigeria to discuss the theme of ‘’World-Class Design in Regional Markets: Interior Architecture/Design into the Future.” Titi Ogufere, President of IDAN, who also doubles as an executive board member of IFI representing Africa and the Middle East, says Nigeria is excited and prepared to host design professionals from other parts of the world. According to Ogufere, hosting of the congress represents an incredible opportunity for Nigeria to showcase its cultural heritage and indigenous designs to the rest of the world. She adds that the event, being one of the biggest design events in the world, is expected to bring together

major industry players from across the globe that will be looking to Nigeria for opportunities and inspiration. The event is endorsed by Lagos State Government as co-partner and host, Ministry of Trade, Industry and Investment, Ministry of Information and Culture and Ministry of Foreign Affairs. Recognized as a key event for promoting dialogue between designers and designrelated stakeholders, including government, business, technology providers and educators, the IFI World Design Congress aims to foster collaboration among various design disciplines, highlight the value of design-based collaboration in other ﬁelds and serve as the global voice of design innovation. “As Director of the exhibition and curator of the Design Pavilion, we will showcase the very best of contemporary designs from Africa to some respected and established designers and architects. The pavilion will include original pieces of furniture, installations, design objects, lighting and textile’’. “The Modern & Contemporary African Arts Pavilion will showcase paintings,

photographs, video art, installations and sculpture from some of Africa’s leading modern and contemporary artists and will be curated by world acclaimed curator Bisi Silva”. ‘’The Traditional African Art Pavilion will also showcase bronze works, head dresses, beaded bags, sculpture, masks as well as doors sourced from the National Museum, including the celebrated Femi Akinsanya Collections and will be curated by the past curator from the National Museum, Ronke Ashaye’’, Ogufere enthused. Founded in 2007, the Interior Designers Association of Nigeria is the national association for the interior design profession. As the national body, IDAN represents members including fully qualiﬁed interior designers, interior decorators, suppliers of interior design products and ﬁnishing companies. IFI was founded in 1963 as the sole global voice and authority for the interiors profession and is regarded as the“UN of Interiors.”The federation, which represents and reaches out to members in some 120 countries is strategically located close to the United Nations in New York City.

Ogufere

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

MARKET NEWS

Dangote Signs N166bn Sugar Production Pact with Niger State Dangote Group last week signed a Memorandum of Understanding (MoU) with the Niger State Government for the establishment of a N166 billion state-of–art and fully integrated sugar complex. The pact, which was signed in the government house in Minna, will see the company producing raw sugarcane on 16,000 hectares of land at Lavun Local Government through an out-grower scheme. The company, which is

currently operating out-grower scheme in rice production in a number of states, has the Africa’s largest sugar refinery in Lagos and a sugar cane plantation in Numan, Adamawa State. According to the President of Dangote Group, Aliko Dangote, the investment was informed by his company’s firm belief in the potential of the Nigerian economy, adding that the new outlay will add value and create jobs for Nigerians.

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

He commended the state governor, Abubakar Sani Bello for his foresight and efforts to woo investors to Niger State noting “the Dangote’s Integrated Sugar Project in Niger State will also include the establishment of integrated sugar mills, generate power, produce molasses, ethanol fuel, biomass and produce animal feeds. In his remarks, Governor Bello said the deal would revolutionise agriculture in his state and Nigeria. The governor

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 23-Aug-2017, unless otherwise stated.

then urged Dangote Group to explore other investment opportunities available in the state, just as he announced that the state was opened for multi-sectoral investments. Niger State Commissioner for Investment, Commerce and Industry, Rahmatu Muhammad Yar’adua said that the deal with Dangote Group would help grow the agricultural sector and create direct and indirect jobs in the state. Group Managing Director of Dangote Sugar

Plc, Abdullahi Sule stated that the MoU would be a game changer for Niger State economy and Nigeria as a whole. He said the integrated sugar mills will have the capacity to produce 160,000 metric tonnes of raw sugar, noting that the company has been in the fore front of support for government industrialisation programmes through backward integration policy in agriculture. According to Abdullahi, Dangote Sugar Refinery is developing a

sugar backward integration plan through the production of 1.5MT per annum in 10 years in: Nasarawa, Adamawa, Kogi, Kwara, Taraba and Niger states respectively. The Group’s Executive Director Stakeholders’ Management and Corporate Communication, Ahmed Mansur had also announced that the group was investing over $1billion in the agricultural sector in the country, specifically in rice, sugar, tomato and dairy productions.

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 174.54 169.76 35.28% Nigeria International Debt Fund 230.19 230.69 8.80% 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 0.81 0.82 15.73% 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 18.68% 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 17.33 17.85 40.33% ARM Discovery Fund 364.11 375.09 26.79% ARM Ethical Fund 25.88 26.66 15.84% ARM Money Market Fund 1.00 1.00 18.07% 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 141.80 142.79 34.81% AXA Mansard Money Market Fund 1.00 1.00 18.54% 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 19.60% Paramount Equity Fund 11.50 11.80 22.89% Women's Investment Fund 93.23 95.62 10.21% 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 19.17% 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 1,115.71 1,116.80 10.10% FBN Heritage Fund 141.43 142.69 26.88% FBN Money Market Fund 100.00 100.00 18.32% FBN Nigeria Eurobond (USD) Fund - Institutional $109.80 $110.78 6.77% FBN Nigeria Eurobond (USD) Fund - Retail $109.15 $110.13 6.88% FBN Nigeria Smart Beta Equity Fund 153.23 155.44 36.09% 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 2.84 2.84 10.46% 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 2,853.66 2,897.24 29.40% Coral Income Fund 2,328.48 2,328.48 10.66% 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 14.60% 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 18.39% Vantage Balanced Fund 2.08 2.10 23.65% Vantage Guaranteed Income Fund 1.00 1.00 17.93%

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 1.12 1.14 13.04% Lotus Halal Fixed Income Fund 1,034.15 1,034.15 7.59% 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 13.00 13.10 34.49% 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 1.13 1.16 14.44% PACAM Fixed Income Fund 10.74 10.79 3.28% PACAM Money Market Fund 10.00 10.00 17.42% 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 120.26 122.27 18.62% 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 1.35 1.35 8.69% 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 2,151.72 2,163.27 17.49% Stanbic IBTC Bond Fund 162.52 162.52 5.56% Stanbic IBTC Ethical Fund 0.96 0.97 25.32% Stanbic IBTC Guaranteed Investment Fund 207.16 207.16 10.85% Stanbic IBTC Iman Fund 172.70 174.91 33.01% Stanbic IBTC Money Market Fund 100.00 100.00 18.57% Stanbic IBTC Nigerian Equity Fund 9,383.06 9,484.98 23.69% 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 1.30 1.29 15.14% United Capital Bond Fund 1.38 1.38 13.30% United Capital Equity Fund 0.86 0.84 25.17% United Capital Money Market Fund 1.10 1.10 16.39% 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 12.43 12.61 27.91% Zenith Ethical Fund 13.06 13.21 19.29% Zenith Income Fund 18.54 18.54 12.12%

REITS NAV Per Share

Yield / T-Rtn

11.41 129.51

1.01% 4.54%

Bid Price

Offer Price

Yield / T-Rtn

10.77 106.03

10.87 108.03

24.80% 39.93%

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

4.43 9.36 17.41 21.14 132.23

4.47 9.44 17.51 21.34 134.23

60.00% 32.96% 45.57% 32.34% 2.56%

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, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

LESSON TR

UT H

& RE A SO

LIFE LESSONS WITH AYO AROWOLO

ayo.arowolo@thisdaylive.com

09067059433 (SMS only)

PEOPLE MAKE THEIR RULERS MONSTERS

–Niyi Adebayo When Otunba Niyi Adebayo won the election to be the Governor of Ekiti State, in 1999, not many people gave him a chance of making any meaningful impact because he was considered a greenhorn. What people, however, did not know was that the young man watching his father, late General Robert Adeyinka Adebayo, former Military Governor of the old Western Region of Nigeria, had gained a lot of insights even without being an active participant. Niyi, a lawyer by profession, shares notes on his life in the Government House in Ekiti, and lessons for other professionals who want to venture into politics. Enjoy the reading. LESSON

Politics is not dirty. People use statements like ‘politics is a dirty game’ to drive good people away from politics. For me, what I have come to discover is that the more good people go into politics, the cleaner it will become. If you have clean people going into politics, they will clean up the system. Interestingly people who are insider want to prevent other people from coming in because they don’t want competition, they tell you it is a dirty game, don’t come. No, it is not. That is what I found out. What is politics about? It is about the people who will be in charge of the country. If you don’t have good people in charge of the country, you do not have a good country. So, the cleaner the people that come in, the better it would be for the country. My advice to professionals, Christians, Muslims, and religious people is that the more good people we have in politics, the better for our country. Once you have something good to offer, give it a shot. You never can know what impact you can make.

LESSON

You need to create your own identity For me, going into politics was not to make money; it was about making a name. When you are the child of a successful man, you are always in his shadow. I wanted to come out from under that shadow and make my own name, so that people would not refer to me as General Adebayo’s son, but rather as Niyi Adebayo. I believe I was able to achieve that because my going into politics was not self-serving. It was about service to my people and I saw it as stepping stone to greater things. I do not believe my political life has ended yet. I believe there is still more on the horizon for me politically which I am working towards.

LESSON

People turn their rulers into monsters. One lesson I learnt while in government is that it is people that make governors

or presidents to misbehave when they get into office. It is the people that you are governing that turn you into a monster. As a governor, people believe that their whole lives are dependent on you. That is, if they get into your right hand, they can become billionaires tomorrow, even without doing anything. To a large extent, that is true. It will only take one contract and you are made. Consequently, people do not tell their rulers the truth because they want to be in their good books. They elevate them to a god-like status. Even when you are doing foolish things, they will tell you ‘brilliant’, and because everybody is praising you, after a while you too will begin to believe that you are doing the right thing and you begin to question your judgment. And as you keep imbibing their praisesinging, you may lose control of yourself. So, to be a good governor or administrator and not lose control, this is where a good wife comes in handy because when you are losing control, she will tell you things as they are -frankly. But if you don’t have that kind of wife, you will lose control and start to believe everything they tell you even when you know they are not accurate. You start fighting real critics that are criticising you for the good of all. The sycophants will be telling you ‘what do they know, don’t mind them, they are only seeking attention.’ You know as you keep listening to them after a while, you begin to believe the sycophants and everybody that disagrees with you becomes an enemy. I experienced this first hand. It was my wife who helped me to keep my focus.

So, you need a good wife and good old friends, preferably those you grew up together with. Make sure you give them access to you because they will tell you the truth because they know where you are coming from. I had my father’s experience to teach me. I saw my father as a governor. I saw him after office; I saw how people were with him when he was the governor, I saw how fewer people were with him afterwards. I was able to come to terms with the fact that this thing is temporary; it is not forever. Another luck I had was that I grew up in Lagos; I lived in Lagos. I went to be the governor in Ekiti. When I ended up being governor I came back to Lagos and what I did whenever I was in Lagos as governor, and I want to go out to the polo club or any other such places to relax. I would drive myself; I would take along a security man in mufti. He would wait for me in the car; I would move normal like before. So, I tried as much as possible to be my normal self.

LESSON

Give access to as many people as you can As the governor then, I saw that you could be imprisoned and shut away from good people. But if worked against that by ensuring that as many people that needed to see me had access to me. I would read any letter somebody wrote to me. If it is something I should pass to someone else, I would minute on it. If I needed to reply, I would reply. I was doing that because that was the only way I could get a feel of what was going on in the state. You knew how people were feeling about you. That way, I knew what was happening in the state. Sometimes even before I get security report from the security agencies, I already knew what happened because somebody had already written and told me about it. I got very useful information this way including an experience where I learnt that my associates were using my name to collect money from those who wanted to get Cof O. I was able to address that by information by an ordinary person who I allowed to see me on a Sunday.

You need a good home to achieve your dreams. First of all, I would say that I have been blessed by God because I married a very wonderful woman. My wife is a very wonderful, brilliant and very supportive woman. At a time when I was a struggling lawyer, she was in employment. She had a salary, but I didn’t have. Well, I started with a salary but after working for two years, I set up my own practice. So for quite a while it was a bit of a struggle. But she was there very supportive; she had her salary. If she had not been supportive at the time, life would have been difficult. As a politician, you need a supportive wife. If your wife is harassing you at home, you won’t concentrate in the office. As a matter of fact, as a governor, if your wife is not supportive, you just wouldn’t have the mental wherewithal to perform your duties as a governor. I must say the women in my life have been supportive because to a large extent I was brought up by my mother.

LESSON

God is number one. I am a practising Anglican; I try as much as possible to go to church every Sunday. I say my prayers every morning before I leave my house. I try to do my duty to God because He has been very good to me and my family. I will continue to praise and glorify his name.

LESSON

Friendship is important. Making and keeping friends has been an important aspect of my journey. I don’t have problems making friends. I have lots of friends. I always tell people that you will not encounter a problem with your friends if you know who they are. So, I always try to know and understand what people are, so that we don’t have problems. If I know you to behave in a certain way and you behave that way to me, it doesn’t create a problem for me because that is what I expect. You hardly ever hear that Otunba Adebayo and somebody are fighting. Friendship is important to me. I am faithful to my friends and my friends are faithful to me.

FUN TIME I like to have fun. I like to hang out with my friends, sit down have drinks, gist, play. Now and then I go to parties. It is important to enjoy the day as it comes and as you are allowed by God to experience it.

BEST ADVICE One thing my father used to say to all his children while we were growing up was to remember your name. It is not only for you; it is for everybody. If you spoil it, it aﬀects everybody not only you. So, whatever you do in this life, make sure you have a good name. I hold unto that and I have passed it unto my children.

BOOKS I enjoy reading history. I can’t think of any book that was written on Nigerian Civil War that I have not read. I like biographies. I love reading John F. Kennedy. The other one that has impacted on me greatly was the biography of Abraham Lincoln.

REGRET I started the medical school for the University in Ado-Ekiti. When we collected money from the bond, there was a certain amount of money I was supposed to release to them for the takeoff of the college. Unfortunately, because of administrative lapses I wasn’t able to release that money to them before I left office: that is regret. Other people have tried to take credit for starting the College of Medicine, but I refuse to accept that. I started it; I appointed the first provost; but unfortunately, we were not able to release funds to them for the takeoff before we left office. To a large extent, I have that regret.

WEEKLY PULL-OUT

27.08.2017

THE CREATIVE INDUSTRY: ON THE VERGE OF BIG BREAK

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

COVER

Scene from the Wedding Party...highest grossing ﬁlm from Nigeria with record of over N450 million in 2016

THE CREATIVE INDUSTRY ON THE VERGE OF BIG BREAK With the inclusion of the creative industry on the list of sectors granted pioneer status and tax holidays, Nseobong Okon-Ekong predicts that there are more promising days ahead as financial experts now take a keen interest in entertainment and ancillary areas.

t’s well past 8 O’clock at night. Ayeni Adekunle, CEO of Blackhouse Media, a Lagos-based public relations and digital marketing company has just emerged from a meeting. He needs a little time to relax his nerves before another round of consultation. His office is designed to accommodate a few nap rooms. Staff who need to clear their head can snooze for a couple of minutes to regain composure. Generous lunch is served on the house every work day. There are a few board games and a snooker table. A well-stocked bar complete accessories of a modern work environment. The staff are expected to put in long hours at work; so the employer meets this anticipation with a bouquet of offers that makes coming to work a pleasure. But that is not the reason Ayeni and his team are not particularly in a hurry to go home tonight. Coming from a newsroom background where the assignment at hand determines the closing time, he is used to task-driven duties. The Nigeria Entertainment Conference which he founded four years ago is just a few hours away. Last minute business must be taken care of to ensure everything goes well. The conference has not failed since it began in 2013. This year, it ran on the theme, ‘It’s Time for Africa’. That could only mean one thing to practitioners in the Nigerian entertainment space, having conquered Africa, move the continent to the world stage. This understanding is captured in Ayeni’s statement: “As the entertainment business in the world over continues to see rapid, shocking changes, with the future of the industry increasingly relying on information technology and new ideas, Nigerian Entertainment Today is bringing practitioners in Nigeria together, to put our house in order, while taking concrete steps to study global trends, understand them, master them, and put them to use – for the benefit of practitioners, consumers, corporates and society.” The year after the NEC began, Nigeria

rebased her gross domestic products (GDP). The country immediately became the largest economy in Africa. Experts say this exercise is supposed to be done every five years. But it took Nigeria 24 years to conduct one. Although, entertainment was said to contribute 1.2 per cent of the USD510; a tiny drop compared to agriculture at 22 per cent or oil and gas at 15.9 per cent, nonetheless, it received the largest celebration not necessarily because entertainers are given to loquaciousness, the merriment was ignited because it was a novelty.

Ayeni

It was the first official acknowledgement of a thriving sector that absorbs the creative energy of the country’s large youth population. With rebasing, Nigeria’s per capita income rose from USD1,555 to USD2,688. This pushed its world ranking up to 121st from 135th. Every player in the Nigerian entertainment industry agrees that the 1.2 per cent assumed contribution from that sector is far from the true position. The general belief is that the impact of the sector is more than what has been captured. The blurred lines have been lost to widespread infringement of rights and lack of organised framework. Since 2011, Tony Okoroji, Chairman of the Copyright Society of Nigeria (COSON), has embarked on sensitisation programme every September 1. It is known as ‘No Music Day’, a day the music industry dedicates to bringing attention to the widespread infringement of the rights of song writers, composers, performers, music publishers, record labels and other stakeholders in the music industry in Nigeria. This has been a long walk from the days when artistes like Fela Anikulapo-Kuti, Charly Boy, Eedris Abdulkareem, Orlando Owoh and Onyeka Onwenu led protests that sometimes degenerated to physical assault against perceived or real infringers of copyright. Till today, even government institutions like the Nigerian Film and Video Censors Board still carry out Gestapo-style raid to seize pirated products and bring offenders to book. Deployment of crude force has not always been the only option. The Nigerian creative workforce has continued to explore imaginative methods of getting out of the quagmire. For instance, Nigeria became the first country in Africa to provide for the Private Copy Levy Scheme, a stream of revenue from the levy of gadgets like MP3s, MP4s, cell-phones, memory cards and flash drives which is paid through the collective management system to the artistes, writers and producers whose music, movies and books are stolen. However, this important scheme has not been imple-

mented 22 years after. A protracted war between various interest groups in the creative industry sphere has given room to more devastating exploitation of rights. COSON believes it should be the only rights collecting manager in the country, but the Musical Copyright Society of Nigeria headed by Mayo Ayilaran has continued to resist this notion. The two bodies are locked in a prolonged legal battle. Not too long ago, the MCSN went to town celebrating a victory of sorts. According to the body, both the Attorney General of the Federation and Minister of Justice and the National Assembly directed the Nigerian Copyright Commission (NCC), to “issue with immediate effect, an approval by way of license to the Musical Copyright Society of Nigeria Ltd/Gte (MCSN) to operate as a collecting society for the purpose of the Copyright Act.” The current leadership of the Performing Musicians Employers Association of Nigeria (PMAN) led by Pretty Okafor has been canvassing a scheme known as ‘Bar Coding Technology for the Creative Industry in Nigeria.’ With Okafor’s wealth creation and welfare campaign, even a dead artiste is assured his due. Okafor may well be on the verge of unlocking a gold mine of wealth for Nigerian musicians; and indeed anyone in the creative industry, through a scheme that ensures automatic payment when their work is used. From a study that he commissioned a consortium of Nigerian companies to carry out, it was discovered that Nigerian music is number one in Africa and number three in the world. According to him, “the Nigerian entertainment industry is worth about N9 billion. The statistics and the research we did are accurate. We can actually raise between N15 and 16 billion every year. There will be a lot of tax coming to the federal and state governments. The only way that the country can get out of recession is to put in place and operate a credible structure that promotes and sustains the creative economy.”

AUGUST 27, 2017 ˾ T H I S DAY, T H E S U N DAY N E W S PA P E R

COVER ALTHOUGH, ENTERTAINMENT WAS SAID TO CONTRIBUTE 1.2 PER CENT OF THE USD510; A TINY DROP COMPARED TO AGRICULTURE AT 22 PER CENT OR OIL AND GAS AT 15.9 PER CENT, NONETHELESS, IT RECEIVED THE LARGEST CELEBRATION NOT NECESSARILY BECAUSE ENTERTAINERS ARE GIVEN TO LOQUACIOUSNESS, THE MERRIMENT WAS IGNITED BECAUSE IT WAS A NOVELTY

Scene from Banana Island Ghost...Grossed N35 million in its opening week

Nigeria is not ranked among the world’s top 20 biggest music markets by the International Federation of the Phonographic Industry, IFPI. While the counter-claim may not be supported by statistics, it is a common fact that the Nigerian entertainment industry, particularly music and film, dominate Africa, far above South Africa whose music economy was ranked 18th by the IFPI. The Nigerian market remains the dream that many African artistes hope to break into in order to find fulfilment and financial success. At various times, the Nigerian Government has supported the film industry. In 2006, “Project Nollywood” was launched in conjunction with Ecobank. The project provided N100 million (US$781,000) to Nigerian filmmakers. In 2010, President Goodluck Jonathan launched a N30 billion (US$200 million) “Creative and Entertainment Industry” Intervention Fund, financed by Bank of Industry (BOI), in conjunction with Nigerian Export and Import (NEXIM) Bank. In 2013, N3 billion (US$20 million) solely for Nollywood, and specifically for the production of high quality films, and to sponsor filmmakers for formal training in film schools. In 2015, Bank of Industry launched another “NollyFund” for loans to film producers. The late adviser to former President Goodluck Jonathan, Dr. Oronto Douglas, was widely believed to have worked in concert with the founder of the Africa Movies Academy Awards, Peace Anyiam-Osigwe and the late Film Producer and Director, Amaka Igwe, to make these interventions possible. The Nigerian film industry was reportedly worth N853.9 billion (US$5.1 billion) in 2014, making it the third most valuable film industry in the world, after the United States and India. The investment clime for the Nigerian creative community keeps getting better as finance professionals become more interested and attracted to it. Recently, the Securities and Exchange Commission approved the initial public offering of Nigeria’s first mutual fund that focuses on promoting investment culture

especially among practitioners in the entertainment industry. The Fund is sponsored and managed by Greenwich Asset Management Limited (GAML). It is a balanced fund which will invest in various asset classes and targets to raise N1billion through the issuance of 10,000,000 units of the fund at N100 per unit from investors within and outside the entertainment industry at its initial offering. A landmark novelty was recorded in 2012 when Ali Baba became the first Nigerian Comedian given the privilege of ringing the Year End Closing Bell of the Nigerian Stock Exchange. The following year, his compatriot, the renowned Nigerian musician, Innocent Idibia, better known as 2Baba, was at the Nigerian Stock Exchange office to close the 2013 capital market, which ended on a high note. Nigeria’s largest private art collector, Prince Yemisi Shyllon, has witnessed the monetary value of Nigerian art rise to millions. Ben Enweonwu’s sculpture ‘Anyanwu’ fetched a staggering £74,500. His ‘Africa Dances’ painting sold for £68,500 in Bonhams, London, Yusuf Grillo’s pieces also did well at the auction. ArtHouse Contemporary Auction, Nigeria’s leading art auction platform founded by Kavita Chellaram supervised the sale of El Anatsui’s 2015 composition – Zata- at $77,000. Bruce Onobrakpeya’s ‘Images’ was sold for $13,750 at the ArtHouse auction. A leading Nigerian artist, Victor Ehikhamenor summed up the increasing demand for Nigerian art. “Serious value is coming to the Nigerian market right now.” Notwithstanding the challenges of epileptic public power supply, the Nigerian fashion industry is estimated to be worth USD10 billion (about N1.55 trillion), according to Kuddus Kolawole, Lagos State Coordinator of the Fashion Designers Association of Nigeria (FADAN). The News Agency of Nigeria notes that the Textile, Garment and Footwear sub-sector currently accounts for 0.47 per cent (N380 billion) of Nigeria’s rebased Gross Domestic Product (GDP). This view is shared by African Development Bank’s Vice President and Special Envoy on Gender, Geraldine

Anyiam-Osigwe

Shyllon

Fraser-Moleketi, who described the fashion industry in Nigeria as a multi-billion dollar industry if well harnessed. The recent Creative Industry Financing Conference in Lagos which was opened by Vice President Yemi Osinbajo (SAN) highlighted government’s resolve to diversify the economy through strategic empowerment of critical sectors. With ‘Financing the Film, Television and Music Industries,’ as its theme, the conference organised by the Federal Ministry of Information and Culture, in conjunction with Think Tank Media and Advertising headed by Dr. Muyiwa Gbadegesin aimed to take the industry into a golden era of smooth access to short and long term financing, world class management as well as local and international distribution. This challenge is what a company like The Temple Management Company Limited (“TMC”) has taken up. It is a full-service creative talent and event management company operating in the entertainment, sports, media and art sectors. Using a 360 approach to management, the company oversees the day-to-day business/affairs of creative talents and ensures that they maintain sustainable competitive advantage over the rest. TMC prides itself in its ability to operate on a global scale. The company’s mission is to continually improve on African content, bridge the gulf between talents and their foreign counterparts, and guarantee that processes are in line with international best practices. Emeka Mba, a former director general of the National Broadcasting Commission, NCC, pointed the way to what many have canvassed as the way forward; more collaboration, better integration and more cooperation to support the widely held notion that the Nigerian entertainment cake is big enough to share among all the players. Mba’s proposition seeks to drive all industry players to establish a Joint Industry Committee (JIC) which shall work with all relevant stakeholders to set up a Broadcast Audience Research Board, which shall provide reliable data on estimates of the number of people watching TV, including which channels and programmes are being watched, when they are and the type of people who are viewing at any one time; fair, reasonable, and non-discriminatory access to the Electronic Programme Guide, EPG. Beyond simply having data about the most watched television shows, reliable audience measurement is also critical to the development of a strong broadcast advertising market. A weakened advertising market tends to weaken the incentive for investment in television and broadcasting generally. Our broadcasting market structure is characterized by TV and radio stations renting out blocks of airtime to highest bidder instead of commissioning/acquiring own content; the only type of available quality content on air these days are those produced and packaged by independent producers in collaboration with certain brands.” With poor or non-reliable and generally acceptable audience measurement, it helps to fester a vicious circle, as low audience measurement leads to low advertising revenue and thereby low investment in quality original content, and affecting viewers confidence.” For over 10 years, Ayoola Sadare, CEO of Inspiro Productions has promoted the live concert culture with his Lagos International Jazz Festival which has experimented with multiple stages while featuring between 30 and 40 artistes in two or three days.

According to PwC’s Global entertainment and media outlook 2017 -2021. Nigeria with a 12.1 per cent CAGR (albeit strongly influenced by surging spending on mobile Internet access), will be the world’s fastestgrowing Entertainment and Media market over the coming five years. One of the most resounding examples of the profitability businesses in the creative industry was the recent ceding of the franchise of a stand-up comedy brand, ‘Nite of a Thousand Laughs’ developed 20 years ago by Opa Williams to Kehinde Adegbite of Yankee Entertainment. The deal is believed to be worth undisclosed hundreds of millions of Naira. To demonstrate its commitment to diversification of the Nigerian economy, the Federal Executive Council included sectors in the entertainment and ancillary industries among 27 new industries and products to enter into the pioneer status to give tax holidays to them for three years, to enable them grow and expand investments. The industries include tanning and dressing of leather, manufacture of leather footwear, luggage and handbags; manufacture of household and personal hygiene paper products and manufacture of paints, vanishes and printing ink. Others included manufacture of plastic products (builders’ plastic ware) and moulds; manufacture of batteries and accumulators; manufacture of steam generators; manufacture of railway locomotives, wagons and rolling stock; manufacture of metal-forming machinery and machine tools, manufacture of machinery for metallurgy, manufacture of machinery for food and beverage processing; manufacture of machinery for textile, apparel and leather production; and manufacture of machinery for paper paperboard production. Also included were, manufacture of plastics and rubber machinery; waste treatment, disposal and material recovery; e-commerce services; software development and publishing; motion picture, video and television programme production, distribution, exhibition and photography; music production, publishing and distribution; real estate investment vehicles under the Investments and Securities Act; mortgage backed securities under the Investments and Securities Act; and business process outsourcing.

Williams

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

Can Nigeria Win AFRIMA Hosting Right Again?

igeria may have hosted the All Africa Music Awards, AFRIMA for one term of three years since 2014, but the countryâ€™s Information and Culture Minister, Alhaji Lai Mohammed has made it clear that it will enter a fresh bid for another term of three years. Mohammed advanced reasons for Nigeriaâ€™s interest in the continentsâ€™s biggest music event. â€œWe have also witnessed increased unity and collaborations among young African music professionals as they congregate each year in Africaâ€™s most vibrant entertainment capital for the awards ceremony held in Lagos.â€? He further noted that Nigeria has beneďŹ ted immensely from serial hosting AFRIMA via; enhancing Nigeriaâ€™s image and tourism opportunities, promoting Nigeriaâ€™s culture and tourist attractions, positioning Nigeria as a safe and hospitable destination among others.â€? Nigeria is Africaâ€™s biggest economy and her entertainment industry stands head and shoulders above other African countries. The ambition of many African artistes is to make a mark in Nigeria, which they consider a very strategic and tactical market. Morocco, South Africa and Ghana have shown strong interest in hosting the Africaâ€™s biggest music event, All African Music Awards, AFRIMA 2017-2019 editions as announced by the international Committee of AFRIMA. These countries have shown their interest through a competitive overture made available to the African Union Commission, AUC which is saddled with the role of deciding on the host in partnership

FELABRATION GOES TO NOTTING HILL Femi Anikulapo-Kuti has departed Lagos, Nigeria to London where, alongside Seun, his younger brother, to

Felabration dancers

From Top L-R AFRIMA Juror, Central Africa region,Charles Tabu, Head, Culture Division,the African Union Commission,Ms. Angela Martins,President/Executive Producer, All Africa Music Awards,(AFRIMA), Mr Mike Dada, AFRIMA juror,Africa-In-Diaspora, Hadja Kobele, AFRIMAJuror,East Africa, Mr Joett Tony Namata, AFRIMAJuror,West Africa,David Tayorault,AFRIMA Juror,Northern Africa, Omar El Saidi,AFRIMA juror ,West Africa, Olisa Adibua, AFRIMA juror,Central Africa,Mr.Rob Ekukole,AFRIMA juror,Southern Africa,Chris Syren, at the 2017 All Africa Music Awards,AFRIMA was held at the Renaissance Hotel, Ikeja,Lagos.

with the International Committee of AFRIMA. Some of the parameters that the AUC-AFRIMA will consider in deciding on the hosting right of the all Africa Music Awards events are immigration and visa application management, availability of functional airport and good land transportation system, venue infrastructure, hotels and hospitality facilities as well as adequate provision of security for guests and oďŹƒcials. In Partnership with the African Union Commission,

AFRIMA celebrates the rich musical heritage of the African continent by fostering unity, cooperation, interaction, partnerships and progress in the continent through the instrumentality of music. The 2017 AFRIMA will hold from November 10 to 12. It is scheduled to present to the continent a world class programme of events such as the Africa Music Business Roundtable (November 10), which brings together big music brands, music producers and intellectual property persons to

participate in this yearâ€™s Felabration at the Notting Hill Carnival. This event is scheduled for Monday August 28, 2017 between 10am-8pm at the Emsile Horniman Pleasance Park

on 12, Golborne Gardens, Kensal Road, London,W10 5DH. The appearance of the two brothers will definitely be the main attraction at this yearâ€™s carnival even beyond the Felabration Park of the event. This is the first time the almost two decades old FELABRATION is showcasing at the London Carnival. This World rated annual Festival for the celebration of the Life, Times and Music of Fela, comes alive at the 2017 Notting Hill Carnival to commemorate the 20th Anniversary of the passing away of Fela. The Felabration at Notting Hill, will also parade the famous Femi Kutiâ€™s Positive Force Dancers and a host of renowned Afrobeat Dancers worldwide, all choreographed by dance star and founder/executive producer of Felabration, Yeni Kuti. Some Afrobeat bands from across the globe are also expected to appear at the Felabration Park of the event. The Felabration 2017 promises to be the biggest and the best so far. Plans have been concluded by members of the Organising Committee, to introduce new awesome contents to this yearâ€™s event. â€œA Life In a Dayâ€?, a Tourists walk through Felaâ€™s life route, is one of the unprecedented addition to this yearâ€™s festival. There is also an Afrobeat Dancing Competition as well as A Fela Arts Competition. The artistes line up for the Felabration this year reads like a who is who in world music. Preparations are in top gear to make this historic event a memorable one. The Carnival at Notting Hill, is indeed the beginning of what promises to be an unforgettable Felabration 2017 Festival.

start proďŹ table conversations on the needed networks and infrastructure for an expanding youth-based industry. Other events are the AFRIMA Music Village (November 10), an evening of a non-stop open music festival of live performances from the African stars and nominees, with an expected audience of 40,000 people; The Main Awards Ceremony (November 12); a star-studded and world-class event with live performances and television broadcast to 84 countries on 109 television stations around the world.

AUDIENCE MEASUREMENT CONFERENCE TO CATALYSE BROADCAST INDUSTRY GROWTH Yinka Olatunbosun The Federal Government is set for an Audience Measurement Conference to provide broadcast industry stakeholders the opportunity to establish a scientific Audience Measurement System for radio and television broadcasting in the country. The Minister of Information and Culture, Alhaji Lai Mohammed, disclosed this in Lagos recently during the Broadcasting Organisation of Nigeria (BON) 3rd International Summit on Digital Broadcasting in Nigeria. The event will hold on October 3, 2017. â€œIt is imperative that we urgently put in place an industry framework that will ensure that content Producers receive their just due for the value of the content they create, as well as provide objective guarantees to the Advertising community on their Return-OnInvestment on media placements. This will then have the overall effect of guaranteeing greater spending by the Advertisers, who are all seeking to grow their market share. â€œThis industry framework can only happen if the Ministry of Information and Culture, which fortunately supervises both the Broadcasting and Advertising industries, serves as a catalyst for putting in place a robust Audience Measurement System that is in line with global standards and supports the realization of the immense potential that the Nigerian Creative and Entertainment industry holds,â€? he

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ENTERTAINMENT

O’GOODNESS! KENNY SAINT BEST’S CULINARY DREAMS COME TRUE By Vanessa Obioha

f you ask anyone who is close to the gospel musician cum politician, now restaurateur about her passion for food, they will probably tell you the same thing: It is strong and unquenchable. From that age of 12 when she was introduced to the culinary world by her older sister Moji Dokpesi who is a greater cook, her culinary ﬂame has never died. She continued to sit at her feet. Over the years, Kenny Saint Best has meticulously nurtured her proclivity towards culinary business. Her ﬁrst baby steps was to launch a food delivery business known as KSB’s Foodies. It was a bold step but as she continued, her dream expanded. That expansion required more training which she did and today, she is the proud said. Alhaji Mohammed added that for the Digital Switch Over from analogue to digital television to be sustainable for Signal Distributors, Channel owners, TV Content Producers and Advertisers, the scientific Audience Measurement System is critical to articulate the value of the content to Consumers, as well as the value of the Audience to Advertisers, particularly in the Television sector. He said also that lack of a scientific Audience Measurement System has resulted in under-investment in the sector, which is necessary to foster the growth of the industry, as the Advertising community continues to rely on subjective factors when making decisions on the Content they want, as opposed to how many viewers the Content truly attracts. The Minister said as a consequence, television platforms are subjected to renting out space on their Channels to sustain their businesses and content producers have relied too much on sponsorship which, unfortunately, skews the authenticity of their creative output in favor of a few decision makers and not the millions of TV viewers. “Further, the value of Nigeria’s Broadcasting Advertising Market is not proportionate with its population when compared to the Top 3 Markets in the Sub-Saharan Africa region. He remarked that bringing Nigerian TV advertisement market into line with benchmarks that is 2 to 3 times the current size could result in additional $200-$400m of revenue to the industry, based on current comparisons with other African countries. The Minister said the Federal Government had already taken a critical long-term decision to support the Nigeria Creative and Entertainment Industry by ensuring and funding the inclusion of a middle-ware that is capable of scientific Audience Measurement on Set-Top Boxes, hence the need to develop the framework. “The existing model will never enable the Nigeria’s Creative and Entertainment Industry to reach its full potential. It stunts the quality of the content that can be created and it also limits the capacity of television platforms to invest in dynamic offerings that consumers will be attracted to,” he

owner of O’Goodness Food Court. Indeed, it is a dream come true for her as she radiated with beautiful smiles at the unveiling of the food court. Her siblings Moji and Kenny Ogungbe, alongside her children, long-time friend Essence and other well-wishers were present at Olowu street, Ikeja where the food court is located. With delicacies named after entertainers like Don Jazzy, including her brother Kenny, KSB is poised to give unforgettable palate delight to foodies. For her, the proof of the pudding is in the eating. “I want people to eat my meal and exclaim ‘Oh goodness! What a meal’. Thus the name O’Goodness,” Her siblings were only too overjoyed to see the 49 year-old celebrity add another feather to her cap. O’Goodness oﬀers local cuisines done with panache and are also available online. said.

LEGEND REAL DEAL EXPERIENCE KICKS OFF SECOND LEG IN ABUJA The music concert is returning this weekend with M.I. Abaga and other billed artistes in Abuja. Having thrilled music lovers with undiluted entertain-

Kenny Saint -Best

music tour has over the years seen some of Nigeria’s entertainers like Timaya, 9ice, Kcee, Oritsefemi among others entertain Nigerians across different cities including Lagos, Ibadan, Onitsha, Umuahia, Abuja, Port Harcourt, Abakaliki, and Owerri to name a few. The concert will visit other major cities in Nigeria in the coming weeks.

THE LUXURY LIFESTYLE SUMMIT RECORDS HUGE PATRONAGE FROM TOP LUXURY BRANDS

M. I. Abaga ment in cities like Nnewi, Enugu, Uyo and Aba earlier this year, the Legend Real Deal Experience is geared to give music fans a big dose of entertainment as well as great consumer experience on Saturday, September 2 at The Palms, Galadimawa, Abuja. While M.I.’s electrifying performance is already guaranteed, other lined-up activities for the event include an online talent competition on Legend Extra Stout’s social media pages that will reward the winner with N50, 000. Consumers will also be rewarded with exciting gifts such as flat screen TVs, generators and refrigerators, among other high-end household items. “In our usual tradition of giving the best to Nigerians, we are glad to bring the thrills, fun and excitement of the Legend Real Deal Experience to the Federal Capital Territory,” says Portfolio Manager - Mainstream, Lager and Stout brands, Nigerian Breweries, Emmanuel Agu. “Besides giving the residents of Abuja an unforgettable experience, we will also be interacting with our consumers in this beautiful city and rewarding them with a great experience.” The Real Deal Experience nationwide

By Vanessa Obioha With less than two weeks to the anticipated inaugural edition of The Luxury Lifestyle Summit, more top luxury brands are signing up to be part of it. The organisers revealed this recently in a press briefing. So far, over 30 exhibitors have come on board while 300 stakeholdera have registered for the conference which will hold on the first day of the two-day event. The organisers: TOPCOMM PR and The Luxury Reporter are optimistic that attendance will surpass its 1,500 guests benchmark. The leading brands which have indicated interest according to the organisers include Sun International’s SunLux Collection of luxury hotels. They will be showcasing The Maslow; Table Bay, Palace of the Lost City and Boardwalk hotels. In the airline industry, American carrier, Delta Air Lines and South African Airways, national carrier of South Africa will be exhibiting at the event as well as GHI Assets, parents company of Skylogistics, HRG Nigeria, alongside Balmoral event who are the exclusive venue sponsor of the summit. Bespoke luxury brands, Julian’s Luxury and the Coscharis group, leading luxury automobile brands dealer is expected to showcase their wares at the event. South African Tourism, destination marketing agency of South Africa has also shown interest to promote the country’s exquisite lap of luxury at The Luxury Lifestyle Summit. Exhibition guests will have the opportunity to engage the services of luxury travel management companies with Tour Brokers International and Wontra signing up to present luxury travel packages at the Summit. In the financial sector, United Bank for Africa; Access Bank and First Bank will

be providing timeless information on their convenient private banking bouquet while telecommunication company, ntel, will also be on ground with its superfast internet service. This maiden edition of The Luxury Lifestyle Summit will also see about 20 emerging indigenous brands in the arts, fashion, perfumery and other sector exhibit their products in line with the idea of the summit to expose hidden gems Nigerian luxury market to the world. Some of them include: E’sorae Luxury, Abela, Scentify, Regalo African Luxury, Nsaata, TPS Luxury bags, Oud Majestic, Adire Lounge, Pere Lei, Muji Lagos, foremost designer, Lanre Da Silva Ajayi (LDA) among others. Blackpace Group, Swiss and Nigerian based company; Weathinsight based in United Kingdom; Lions&Gazelles based in Dubai and Nigerian Based African luxury brand, Regalo Luxury forms the quartet brands providing lead support for The Luxury Lifestyle Summit. Megalectrics Limited, owners of the wave making radio stations; Beat FM, Classic FM and Lagos Talks FM is exclusive radio partner for the summit alongside BusinessDay, The Guardian and other media as partners. The two-day conference and exhibition themed ‘Digital Inside - Get Wired to Deliver the Ultimate Luxury Experience’ will hold on September 6 and 7 at the Balmoral Convention Centre, Federal Palace Hotel & Casino, Lagos.

Funke Osae-Brown

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INTERNATIONAL ENTERTAINMENT

Michael Jackson: Still in My Heart Vanessa Obioha

n Tuesday, August 29, Michael Jackson would have been 59 years old. I often wonder how he would have celebrated his birthday. Would there have been a concert parading the best of music stars in honour of the legend? Or would he have come to north-east Nigeria and celebrated it with the children at the IDPs camps? Certainly, he would not be watching cartoons with his children like he did in his last birthday on earth for they are now adults. Perhaps, he would have spent it alone, reminiscing or enjoying the solitude? As a young rising star, birthday celebrations were not entirely euphoric for him. The reason is not far-fetched. His religion Jehovah Witnesses at the time forbade such celebrations. So it was with an avalanche of mixed feelings that the King of Pop marked his birthdays. According to his close pal and make-up artiste Karen Faye, Michael was uncomfortable with his birthdays. Her memories of Michael’s birthday celebrations were cited on www.truemichaeljackson.com. She recalled the first time he revealed to her that birthdays and Christmas celebrations were not allowed in his household due to their religious beliefs. Then she witnessed it during one of his birthdays they spent together working. “One August 29th, we ended up working. Everyone was wishing him Happy Birthday and giving him little presents. He smiled and graciously accepted them. Once we were in the privacy of the trailer, he puts the gifts down on the seat and looked down at them: ‘I wish people wouldn’t do that. Please promise me, Turkle, don’t ever say happy birthday to me.’ Faye kept to his wish but she was just one of a million fans who wished the legend well on his birthday. He would later disconnect with the religious group but by then that hard principle had taken its toll on him. His birthday celebrations were mostly on low key like his last. Although part of his reason to mark the day with his children Prince, Paris and Blanket was due to the recent sexual allegation against him. The accusations started in 1993 when a 13 year-old boy Jordan Chandler and his father Evan accused the singer of sexually abusing him. An investigation was carried out but was inconclusive. On January 1, 1994, Michael settled with the Chandlers out of court for $22 million. In 2003, Michael faced another child abuse allegations. This time from a documentary about him ‘Living with Michael Jackson’ which showed a controversial scene where Jackson was seen holding hands and discussing sleeping arrangements with a young boy. Another bout of probing were carried out and Michael was arrested in November 2003 and charged with seven counts of child molestation and two counts of administering an intoxicating agent in relation to the 13 year-old boy shown in the film. He denied the allegations and was finally acquitted on all counts on June 13, 2005. He moved to the Persian Gulf of Bahrain after the trial. These public scandals were part of what made Michael’s life an interesting one. His adoration for children was no secret, part of which was due to his lost childhood. No one could have sang for the ‘Lost Children’ like he did. To further prove his love for the little ones, he founded the Heal the World Foundation in 1992, named after the most successful song of his 1991’s album ‘Dangerous’. The charity brought underprivileged children to his Neverland ranch to enjoy park rides and sent millions of dollars around the globe to help children threatened by war, poverty, and disease. Now tell me, didn’t he ‘Heal the World’ with this act of altruism. No doubt, he was every child’s idol and adults too in the 80s and 90s. With hits like ‘Thriller’, ‘Bad’, ‘Black or White’, ‘They Don’t Really Care About Us’, ‘Dirty Diana’, ‘Smooth Criminal’, he became the idyllic superhero of all times. His Moonwalk moves were practised by children back then who wanted so badly to learn how to keep one leg straight while gliding and the other bent as if walking. Then there was the popular crotch grabbing which have been made popular by contemporary artistes like Usher and our own P-Square. Again, I still wonder the magic the King of Pop would have brought in

this age of advanced technology. He was credited for transforming the music video to an art form. Before him, music videos were kinda dull until the inventor introduced the use of complex story lines, dance routines, special effects and famous cameo appearances. Soon, the music video became a promotional tool. Till date, his ‘Thriller’ music video is the best-selling album of the year. This is also the album that severed his relationship with Jehovah Witnesses. Imagine the wonders he would have done with sounds and graphics. Perhaps, he would have come up with a unique sound of afrobeat. Michael was known for his exploration of sounds. His music genres was a plethora of sounds: pop, funk, RnB, soul, disco, dance pop and others. Or maybe collaborated with some of our artistes and pay a well deserving tribute to the originator of afrobeat sounds, Fela Anikulapo-Kuti. But he may also have retired, tutoring upcoming ones or making cameo appearances in movies. He hinted on retirement during the announcement of ‘This is it’ tour before his untimely death on June 25, 2009. Despite the various child molestation accusations levelled against him, Michael was a lover. His intimate part was seen in some of his songs like ‘Remember the time’, ‘You are not Alone’, ‘Speechless’, ‘You Rock My World’,’The Girl is Mine’ (Featuring Paul McCartney), ‘The Way You Make Me Feel’, ‘Liberian Girl’, and others. In all of his fame, the legend never forgot the ‘Man in the Mirror’. He kept reminding world leaders to pay heed to the suffering of the poor and needy. Remember his ‘We are the World’ project? He took a great swipe at corrupt leaders with his ‘They Don’t Care About Us’ and to those who attacked him for bleaching his skin, he gave them an apt reply in ‘Black or White’. Michael’s deeds are endless and I really pity children of today who will only be regaled with stories of this myth, man and legend. I secretly harboured a wish to be at one of his concerts or even have my children meet him. But those wishes died that fateful evening when I heard Vickie of Cool FM announced his death. I have never felt so much pain the way I felt at the news of Michael’s demise. I had sworn never to cry for the dead having lost my father at a young age. But Michael broke that resolve. I waited till morning, hoping that it was a hoax, but it wasn’t. Truly, the legend had passed on from an overdose of painkillers. I may not have met him during his lifetime, but he is still in my heart. Though he may not have enjoyed his birthdays, I join the rest of the world to light 59 candles for the man who lightened the world with his creativity and endearing ‘Human Nature’ but ‘Gone Too Soon’.

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EVENT

Elfreeda Plans Big for the Homeless The official unveiling of a frontline initiative, Elfreeda Foundation has brought the world to her feet for what it is set to achieve. With the target to create a general rehabilitation to homeless women and children in the society is on its own a noble gesture to tackle humanities’ major obstacle to decent living. AMBY UNEZE captures the event

ature has a very unique way of bringing a man’s genuine effort to fruition, especially when such are geared towards uplifting humanity. It was indeed a divine design that Owerri, capital of Imo State experience an uncommon clement weather which has largely eluded the area this month. Therefore, it was under this fine weather that guests gathered at the Imo State Trade and Investment Complex along new Owerri city. It woud have been a sore point to have an inclement weather blight the painstaking preparations that preceded the official opening of Elfreeda Foundation, a basic need initiative of the first daughter of the governor of Imo State, Mrs. Uloma Rochas-Nwosu and the wife of the Chief of Staff, Government House, Owerri, Chief Uche Nwosu. The Foundation which is meant for the provision of shelter to homeless women and children in the society captured the eyes and ears of the people as all the major streets of the state capital were adorned with billboards, creating the desired awareness that something good had come to the state. Since the world has become a global village coupled with the spaces given to the unveiling of the Foundation on the Cable Network News (CNN) and other national and international media channels in print and the electronic media, there was no doubt that the foundation was indeed a world class facility to set an agenda for humanity. More so, the electrifying presence of the wife of the Vice President, Her Excellency, Mrs. Dolapo Osinbajo as the Chief Guest of Honour and the Mother of the Day who also performed the unveiling ceremony was a delight to behold. The simplicity of the acting President’s wife depicted the mien of a compassionate mother who actually wanted to see the less privileged in the society elevated to the next level of comfort. Her candour made the event conducive for both the high and low that graced it. While food and drinks were enough for guests, entertainers notably the Nollywood artistes, musicians and fashion designers featured prominently in the fun-packed event, all in honour of the less privileged in the

Wife of the Vice President, Mrs. Dolapo Osibanjo, Governor Rochas Okorocha and Nneoma Nkechi Okorocha when Mrs. Osibanjo came for the Official Opening of Elfreeda Foundation, a non-governmental organization owned by Mrs. Uloma Nwosu, the governor’s daughter to Cater for the less-privileged at the Trade & Investment Centre Owerri

society as the occasion was staged to give them a sense of belonging. Mrs. Osibanjo while unveiling the Foundation harped on an important factor. “Our nation needs love now more than anything else. I, therefore, encourage the people of Imo State to show example of this love which I see in them to the rest of the country. This is not my first time in Imo State and each time I come I see peace everywhere. This state is like a house full of many people and I say to this house, peace be upon it”. She added, “Love never fails, I have a request that is deeply rooted in the Bible, love your neighbour as you love yourself. It is a selfish request because it entails loving everybody irrespective of religion or tribe. And this is what Nigerians should be doing now”. She remarked “It is a great joy to be in this beautiful hall and to see all the great talents that are here. I could only imagine that Elfreeda Foundation was a dream, but now, it

has become a reality. The hand of the Lord is very strong to make dreams come true. I am not surprised at what I see today and all I can whisper is I’m so proud of you my junior sister and daughter, Uloma. “I know the parents of Mrs. Nwosu who themselves are deeply involved in humanitarian organizations that have been helping the less privileged in the society, so I am not surprised that their first daughter has also followed in their footsteps,” she stated, adding that this act of generosity should also be passed on to their next generation. With exceeding excitement, Governor Rochas Okorocha described Mrs. Osibanjo as a mother whose love knows no bound irrespective of class, religion or tribe. According to him, “just recently, the First Ladies of Nigeria were gathered in Imo State including the wife of Mr. President, Hajia Aisha Buhari to attend my wife’s August Meeting. Today again, the wife of the Vice

President of the Federal Republic of Nigeria, Mrs. Dolapo Osibanjo is here, we are really grateful”. Okorocha while eulogizing the virtues of the Vice President, described President Muhammadu Buahri as a lucky person for having Prof. Yemi Osinbajo as his vice. He however, opened up on his relation with his children over the years, saying “Over the years of my struggles in life, I have not so much been at home or stayed with my children for long, but we have always been there to impart the necessary discipline in our children. Today, Uloma, you have made us proud”. Expressing joy at having her first public presentation, the founder of the Foundation Mrs. Uloma Nwosu disclosed that the purpose of the foundation was primarily to provide temporary shelter for homeless women and children as well as provide them with clothing and food, adding “the foundation is to help the less-privileged, and not to dramatize wealth but the dramatization of concern for the widows, orphans, disabled and others in the society”. According to her, “we already have a 100-bed facility where homeless women and children are welcome to stay, for at least, for a maximum of 30 days. We also have a counselling centre, food bank and thrift store to enable us to adequately care for the people”. She said, “as a child, I was always deeply saddened when I saw homeless people on the streets. It was difficult to imagine how hard the life of these women and children must have been without food and shelter. From that moment, I realized that the essence of life is devoting yourself to loving others. “At Elfreeda Foundation, we strongly believe that every human being deserves access to food, clean drinking water, clothing and shelter. Our aim is to help them build stable and independent lives for themselves and their families”, she stated. The Governor’s wife, Ugo Nneoma Nkechi Okorocha stated with optimism her delight and success at the ceremony. She added that the only way the society could be better was to show love to one another, even as she noted “it is our prayer that one’s child will succeed him/ her that is what Uloma’s action today depicts.”

Rains Welcome Tweens and Teens Summer Collections Vanessa Obioha

he light showers that fateful Saturday afternoon nearly dousedAtinukeAdelakun’s spirit. She wondered if her event would still hold with the threatening rain, but her fears were allayed when guests turned in earlier than expected for her maiden open house collections.Although they did not arrive in droves, their presence however lifted her spirits. Happily, they feasted their eyes on the apparels and furnishings on display. For first-time guests, the event was an opportunity to familiarize withAdelakun’s iconic pieces. It was three years ago that Adelakun, a former business consultant and media strategist decided to expand her creative skills in the needle and thread business. Her late mother, a textile merchant

had passed on her aso-oke business to Adelakun. Adelakun recalled golden moments of her childhood when she assisted her mother in creating designs and making outfits. From handling the business, she discovered that she has an uncanny knack for creating designs. All she had to do was turn on her creative tap and the juice flowed endlessly. At first, she ignored the nudge, even when her husband pointed it out to her that her true calling was in the fashion business. However, it was just a matter of time before she realized that her restraints were in vain. She was born to do this. Gradually, she began to try her hands on a few designs. Her first attempt was to make delicate pieces from aso-oke. “I thought to myself that there are many people who like aso-oke fabric but they can’t take the pieces away in the forms that we do them presently. So I started to look for ways to put aso-oke fabrics

Mrs. Atinuke Adelakun, CEO, Patterns&stitches into use such that people can then take it away. They can use our stuff abroad in contemporary pieces.” The end product was soft furnishings such as throw pillows, table runners, etc. most of these furnishings were on

display at her event. Her friends were impressed by her work and patronage grew. Before she knew it, she was taking orders in bulk. From that humble beginning, Adelakun launched her fashion label known as Patterns&Stitches, a garment manufacturing company that produces adult wear, children’s wear and soft furnishings. Its production services cover the entire process from patterns making through to the finished product. To mark this giant stride, she held her maiden Open House at Playhouse, GRA, Ikeja, Lagos recently. Themed ‘Tweens & Teens Summer Collections’, the event was a display of unique fashion collections for teens and pre-teens, and featured teen models donning pieces on the runway. The collections varied from casual to trendy outfits for the holiday season. There was also on display unique fabrics such as the aso-oke, tie&dye and cor-

porate souvenirs such as diaries made from these fabrics. But it wasn’t all about the runway. There were vendors like as Zeeeight12, SJPJewelery, Buttermilk Confectioneries and Hally Henna art, who added flair to the event. Atinuke who is the creative lead of her company has a large clientele but for this event, she decided to focus on the unique fashion sense of teens and pre-teens. “The teens and pre-teens today want to look good, funky but they are particular about what they wear. It matters to them. We ensure that we do a lot of casuals for them, shorts, dresses, tops in all sorts of fabrics like tie&dye, ankara, chiffon, denim.” Atinuke prides her brand for its matchless patterns. Together with her team of creatives, tailors and other professionals, the company is able to meet the bespoke fashion needs of the individual and branding for corporate organisations.

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

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Healing the World In line with its core mandate of delivering humanitarian services to the society, the Rotary Club of Lagos (RCL) under the past administration recently embarked on several initiatives that bring succour to the needy in the society needs. Ugo Aliogo reports

yabo Ojo sat on a small wooden chair cracking palm kernel nuts with pebbles. The muscles of her neck had tightened in painful revolt. Her palm had lost its softness and become hardened. She looked tired and weak. She had been cracking palm kernel for about six hours without food or water. She usually eats once daily to save money for feeding for the remaining days of the week. Ojo and other women spend 10 weeks to crack a drum full of palm kernel. The process is crude, time-consuming and stressful. Each day, she goes through a long strain of stress and pain, because of the amount of time given to the job. Whenever the thought of quitting arises, she is overcome by the fear of the many mouths to feed. This is the harsh reality that confronts her daily. She uses the meagre proceeds realised after sales to support her family. Ojo and her children live in the sleepy village of Itamarun in Ibeju-Lekki Local Council Development Area (LCDA) of Lagos State. These women have become accustomed to cracking palm kernel with pebbles and stones for years. None of them has been exposed to the use of machines to make the process faster and more efficient. They have always nurtured the hope that something would be developed to improve the process someday. However, in 2015, when Rotary Club of Lagos (RCL) visited the community, their hearts were moved with pity. They saw firsthand the strenuous process women have to go through to crack a drum full of palm kernel. To reduce their sufferings, RCL decided to provide the women with modernised cracking machine. This has helped to bring efficiency in their job and reduced stress. What took them 10 weeks, now takes few hours to crack. Through this gesture, they have succeeded in bringing restoration and healing to a community broken down by poverty. The palm kernel business is a striving trade for women in the community. It is fully organised, though the operational process is still very crude and strenuous. Many have made fortunes from it, while others are still struggling to make a living with it. The community is home to peasant farmers, traders, artisans and crafts men. For 10 years, the community has been without electricity. Like a forgotten city, the community has been through many years of neglect. There is palpable absence of basic social amenities. In the face of all these, the indigenes have always found a way to live happily and breakthrough the odds of life. In a socio-centric initiative, RCL under the leadership of the immediate past president, Mrs. Modupe Sasore, embarked on several initiatives to improve the living standard of the community. RCL adopted the community and carried out some service projects to enhance its economic and social development as well as create opportunities for the productive workforce. They also strengthened local entrepreneurs and community leaders, particularly women. On March 22, the Club supplied and inaugurated solar energy street lights in the village. The expectation is that the solar light would improve the quality of life of the villagers especially, the students. On the day of inauguration, the overjoyed students carried placards with some of the inscriptions reading: ‘It will enable us read at night’; ‘RCL we love

The President of RCL, Mrs. Modupe Sasore, turning on the tap for the people of Itamarun community

you’ and others. RCL shared expertise with the community leaders to make sure the project not only succeeded, but sustainable. They also extended the micro-credit loans to the cooperative traders of the village to support their businesses. They disbursed micro-credit loans to 30 women on this day, March 22, 2017. The RCL also executed mini-water projects in the community. The borehole is accompanied with water treatment and was piped to five locations in the community. This project provides clean and drinkable water required for healthy and hygienic people in the community. As part of its drive to improve the reading culture amongst primary school pupils in public schools, RCL also embarked on the Reading Programme (READ Project), which is the Star Project for the Rotary Year. The objective was to highlight and direct awareness to the decline, which they observed in the reading culture in school pupils especially, in public schools, and address the challenge. Consequent upon this, RCL partnered Quramo Publishing Company, which contributed immensely to the project. The programme was directed at primary schools to advocate the importance of reading and promoting a reading culture that should not be limited to school textbooks only. The concept adopted was 10 weeks, 10 schools and 10 Local Government Areas. Through this method, they worked with Local Government Education Authorities, the teachers, pupils and the different categories of readers to drive home their objective. In her remarks, Sasore said: “We faced some challenges of logistics, obtaining approvals from schools, because many of the schools were public and also private. We didn’t just want to do it in private schools only. Though we got their cooperation, things were delayed. “The project was well applauded at every school they visited. What was more

comforting, were the remarks from the education authorities, which acknowledged that there was a decline in reading culture. Both the education authorities and school managers appealed for continuity and expansion of the programme to every school in the state. Presently, the programme has been carried out in 11 schools, seven of which are public primary schools, and the grand finale of the project was held on 29, June 2017.” Another academic project which the club embarked on was the Janyaa-Lab-in-a-Box project. The project was aimed at improving students in Junior Secondary School in science and mathematics. It was introduced to RCL by Rtn. Potluri from a Rotary Club in India, but currently working in Nigeria. He linked RCL to Janyaa Organisation, a Non-Governmental Organisation (NGO) in India that is promoting this great idea of simplifying science and mathematics, to make it a hands-on learning by students, to ignite their curiosity in learning and apply this learning in their daily life. This programme is currently being run in 680 schools in India. Pilot projects are being run in USA and Jamaica. In order to execute this, they visited the office of Lagos State Deputy Governor to obtain the state government’s approval on September 6, 2016 to introduce the programme in State Schools and began with a pilot project at Eko Akete Junior Secondary School, Lagos. The second kit was inaugurated and handed over to Agbowa Ikosi Junior Secondary Schools in Epe Division on 9 May 2017. In a bid to address maternal health, RCL purchased five phototherapy machines and donated it to four state hospitals, where they had observed inadequacy of equipment for the care of the neonates. Two machines were donated to Island Maternity Hospital, while one machine was given to Massey Hospital. The General Hospitals in Ikorodu and Ajeromi got one machine each. This gesture is expected to improve child health, particularly neonates,

who may not have survived without the support of the machines. “In every area, it has been success stories. In Rotary generally, each president usually has their project focus for a particular tenure. But there are some projects that are there nationally and internationally, which every club has to key into such as polio-plus. It is a national project which every club gets to participate in to eradicate polio. The current president said he hopes to continue on Janyaa and READ Projects. “Talking about if the state government appreciates what we have done. I think that sounds a bit political. We are not interested in government appreciating our efforts. Rather, our goal is to impact the community. 11 schools appreciated our efforts in the READ Project “Our drive is getting a presidential citation from Rotary International. Every year, the President of Rotary International sets out goals that must be met in the six focus areas by Presidents at Club level in all districts. When the goal is met, the International Rotary President gives citation certificate to the club involved. The RCL under my leadership got the presidential citation,” she said.

assistant editor ØÝÏÙÌÙØÑ ÙÕÙØ̋ÏÕÙØÑ senior correspondent ÐßØÕÏ ÙÖËÙÎÏ correspondent àËØÏÝÝË ÙÌÓÙÒË designer ÓÌÓÜÙÑÌË ÓÌÓÎËÚÙ CONTRIBUTORS ÙØÙÝÒÏ ØáËÌßÓÕáß˜ ÞÏ×ÓÖÙÖß ÙÕÏÙáÙ˜ ÕÏÖÏÍÒÓ ØÎßÕË THISDAY ON SUNDAY editor ËÎÏÞÙÕßØÌÙ ËÎÏÎÙÔË deputy editor àÓØÍÏØÞ ÙÌÓË STUDIO art director ÙÍÒÓ ÙÑÌßËÕß ÔØÜ THISDAY NEWSPAPERS editor-in-chief & chairman ØÎßÕË ÙÌËÓÑÌÏØË managing director ÏØÓÙÖË ÌÏÖÖÙ deputy managing director ÕËãÙÎÏ ÕÙ×ÙÖËÐÏ

ARTS & REVIEW A

PUBLICATION

50 YEARS GONE, CHRISTOPHER OKIGBO'S LEGACY LIVES PAGE 66

27.08.2017

ONOBRAKPEYA

A TOAST TO A MASTER AT 85 EDITOR OKECHUKWU UWAEZUOKE/ okechukwu.uwaezuoke@thisdaylive.com

AUG Ͱ͵˜ Ͱͮͯ͵ ˾ THISDAY, THE SUNDAY NEWSPAPER

ARTS & REVIEW\\TRIBUTE

ONOBRAKPEYA: ATOASTTO AMAST

As the iconic octogenarian Nigerian artist, Bruce Onobrakpeya, stomps into his 8 Uwaezuoke reviews his many bequests to the art world

Above and below: Inside and outside view of Arts gallery by Bruce Onobrakpeya

cluttered ground-floor room in Bruce Onobrakpeya’s imposing residence was swarming with art journalists. As the host, the highlyvenerated artist – flanked by a handful of his acolytes – sat facing the coterie of news

hounds. This was a few days before his 70th birthday. Agood reason why the building, situated along Oloje Street in the Lagos mainland neighbourhood, PapaAjao, became a hub of the local art community. “Do you feel 70?” This question, coming on the heels of another, was not unexpected. Onobrakpeya’s reply was almost instantaneous: No, he didn’t.Acascade of other words accompanied this reply. Nor did he look 70. He could actually have passed for a man almost a decade younger, if one chose to overlook his grey hair and moustache. Fifteen years on, Onobrakpeya still bubbles with the same youthful ebullience as he awaits his 85th birthday on Wednesday. Not too long ago, he was awarded an honorary Doctor ofArts degree from the Delta State University. But this was just one among the many major recognitions for his priceless contributions to the art world. In 1989, for instance, he was a recipient of an honorary D. Litt from the University of Ibadan. This was followed by an honourable mention at the Venice Biennale and the Fellowship of the Society of NigerianArtists on June 6, 2000. Of course, there were others like the Pope John Paul II award for depicting the life of Saint Paul, the Fellowship ofAsele Institute, an award from the late Iraqi strongman Saddam Hussein, the Solidra Circle award and the Fulbright Exchange Scholar award. In 2006, UNESCO recognised as a Living Human Treasure. Then, the Federal Government of Nigeria finally deemed him worthy of the prestigious Nigerian CreativityAward on September 14, 2010. Onobrakpeya owes his intimidating stature in the art world more to his diligence than to his renown as one of the surviving members of the long defunct ZariaArt Society. His art practice swirls mainly around printmaking, painting and sculpture. It is on this tripod that he has traipsed

through several mediums of expression. Aclose-up on his studio practice lifts the veil on his mind-boggling cavalcade of artistic creations from as late as 1957 till date.Art historians have, for their convenience, segmented these works into periods. Perhaps, the shortest among these is the first, which coincided with his student years at the Nigerian College ofArts, Science and Technology (the precursor of theAhmadu Bello University) in Zaria from 1957 to 1962. Mythical Realism, they dubbed this period, during which he produced paintings and lino cut prints, depicting folkloric themes and the northern Nigerian landscapes. This was when the ZariaArt Society was bequeathing the art world with its natural synthesis precept. Moving on to the second period – called the Sunshine Period, spanning the years 1962 to 1967 – the artist’s workshop experiments and his bronzed lino relief series swim into focus. This was the period when, having attended various workshops, he produced well-known works like the lino print “Leopard in a Cornfield”, the lino engraving “Scarecrow” and the silkscreen “Man & Two Wives”. Then followed the Mask and the Cross period – from 1967 to 1978 – during which he produced several works based on Christian themes, among which were the lino engraving “Nativity II”, the plastocast “The Last Days of Christ”, the bronzed lino relief “Obara Ishoshi” and the metal foil “Pope John Paul”. During this period, he also developed a lot of ideas he had started during his NCAST years with the plastography medium. The period between 1978 and 1984 saw him representing historical vignettes, which came to be known as the Symbols ofAncestral Groves. The historical figures in these vignettes were mainly royalty of the Benin Kingdom. It was also during this period that works like “Eghrighri” and “Ibiebe” were produced. The Sahelian Masquerades period – between 1984 and 1988 – featured works he produced to express his concern about the destruction of the environment. For instance, one of such works “EdjoAton” (principles of good governance) draws the government’s attention to the issue of desertification. The next period – 1990 to 1995 – was when he focused so much on the development of images, which eventually inspired the depictions of masks. Dubbed the Mask Series, the works were done in different printmaking techniques and was nourished by the local folklore. Nigeria's dark years under one of its worst military dictators inspired Social Unrest, which spanned between 1995 and 1999. During this period, he

produced large paintings through which he sought divine intervention against the pharaoh-like regime. This was the period he produced works focusing on the murder of Ken Saro-Wiwa, “Ekugbe” (Unity), “Nude and Protest” as well as “Smoke from the Broken Pipe”. The current segment in the artist's creative odyssey – 1995 to date – is euphemistically called Installation Period. True, the artist created

installations to draw attention to the need to protect the environment, among others. Yet, the works were more like platforms for further innovations. And talking about innovations, even the artist’s entire career has been all about bequeathing new media to the art world. From first developing a collage of lino blocks with bronze-coloured patina (called Bronzed Lino Relief) in 1966, he devised other media like plastocast relief (a painted low-relief design cast with resin), plastograph

THISDAY, THE SUNDAY NEWSPAPER ˾ ST 27,2017

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΀ͽÞÒ ãÏËÜ˜ Okechukwu

(a deep-etching technique innovated in 1967 through a “hydrochloric acid accident”), additive plastograph (a printmaking technique that uses glue as drawing medium), metal foil deep etching (a plastograph print that makes use of aluminium foil to draw engraved images), metal foil relief print (a three-dimensional metal foil print drawn on a plastocast plate) and ivorex (a technique that simulates the optical effect of old ivory engraving, though the material used is polymer). Last, but not the least, among the innovations is the IbiebeAlphabet and Ideograms. It is a writing style devised by the artist, which reflect his knowledge of his Urhobo heritage and apparently inspired by the Chinese, Japanese, Ghanaian and local Nigerian calligraphic traditions. To him also the local art scene owes the annual Harmattan Workshops in the Delta State town ofAgbarha-Otor, where he was born onAugust 30, 1932. This workshop, which has been on since 1998, has drawn artists from not only within Nigeria but also from outside. Not less important, of course, are the mindboggling number of exhibitions he has featured in, the number of his works in both public and private collections with and outside the country and his book illustrations. Arguably the most documented Nigerian artist, he has featured in the following films and documentaries: Kindred Spirits: Contemporary NigerianArtists, by Smithsonian World Washington, D.C. USA; The Magic of Nigeria, produced by Delka/Polystar and directed by Ola Balogun, Lagos, Nigeria; Recalling the FutureArt by Joanna Grabski, produced and directed by Claudine Pommier with the executive producer Cheikh Tidiane N'diaye/Arts in Action Society (Vancouver, Canada) 2002; The Harmattan Workshop Experience: The Journey so far, a film and documentary on 10 years theAgbarha- Otor Harmattan workshop Experience, produced and directed by Onobrakpeya, 2009; and RedHot, produced by Communication for Change, directed by Sandra Obiago, June 2011, Lagos. Arecent addition to these are the two documentaries by the Lagos-based Back Page Productions:Agbarha-Otor, the Ultimate House ofArt featuring on-site conversations with the artist, and Bruce Onobrakpeya Nonstop, a close encounter with the him.

The Inverted Pyramid; Adapted from a novel by Emeka Dike

AUGUST 27, 2017 ˾THISDAY, THE SUNDAY NEWSPAPER

ARTS & REVIEW\\LITERARY CAFÉ

50 YEARS GONE, CHRISTOPHER OKIGBO'S LEGACY LIVES Yinka Olatunbosun

L-R: Dr. Wole Okediran, Obiageli Okigbo and Okey Okuzu relied on public libraries and other sources to read his pieces. The good news is that his collections of poetry will be available at the conference venue while some poetry will be read at the conference that will have as moderator, Ms. Molara Wood. The President, Christopher Okigbo Foundation, Obiageli Okigbo, expressed optimism that Okigbo’s name will be immortalised by a series of literary activities one of which is the all Africa Prize for Literature. The award, which was instituted in honour of Okigbo and managed by the Association of Nigerian Authors, went comatose after two editions due to lack of sponsorship. She also revealed that the gala night will be held at Cambridge House, Ibadan which will be hosted by Chief Joop Berkhout. There will also be an unveiling of a UNESCO plaque in honour of late Okigbo at the event, which

will be chaired by the Obi of Onitsha, Igwe Nnaemek Achebe (Agbogidi). For the veteran journalist, Kunle Ajibade, “Christopher Okigbo was charismatic, cosmopolitan; larger than life.” He voiced his concern that the camaraderie, which existed among the first and second generation of writers, is lacking among the writers of the present literary landscape. Okigbo studied classics at the University of Ibadan, joined Mbari Club and was a friend to the Nobel Laureate, Professor Wole Soyinka and the late Chinua Achebe. He joined Soyinka in performing some nationalistic songs. Okigbo was the West African representative for Cambridge University Press and relocated from Ibadan to Nsukka to fight for the independence of Biafra. His works include Limits (1964), Silences (1962-65), Path of Thunder (1965-67), Labyrinths (1971).

VISUAL ARTS

US City, Waco, Supports Nigerian Artists ate last year, the Cultural Arts of Waco in Texas, USA, decided to hold an annual competition of African crafts in Nigeria for the benefit of Nigerian artists. This competition was designed to be an annual event, during which the top three winners would be issued with certificates. Also, artists who made the shortlist were to receive certificates of participation while the overall first-prize-winner would get an all-expenses-paid trip to Waco to participate in the city’s main cultural festival, a major event which holds annually and enjoys a mass regional appeal. In addition, works on the shortlist of the competition would be exhibited as a culmination of the competition process in Nigeria. On Tuesday August 1, an exhibition featuring the works of the artists on the shortlist during the first edition of the programme was opened at the Yusuf Grillo Hall, Yaba College of Technology,

Lagos. It was attended by a large enthusiastic audience comprising of some major Nigerian artists and staff and students of the School of Art, Design and Printing of the college. Since one of the objectives of the exercise was to provide a platform especially for, but not exclusive to, younger studio artists, the choice of the venue for the exhibition could not have been more appropriate. Among the leading artists in attendance were Adeola Balogun, Hamidu Ibrahim, Kehinde Sanwo and Sam Ovraiti (who also served as judges) with Ato Arinze, Aderinsoye Aladegbohungbe, Festus Akindolie and Tony Emodi. The show was opened by Dr. Kunle Adeyemi, a prominent artist and art historian who is currently the Dean of the School of Art, Design and Printing. In his opening speech, he thanked the main sponsors of the programme, Cultural Arts Waco, and their president Doreen Ravenscoft as well as the national organisers of the competition, Back Page Productions, a multimedia (publishing and film-making) company based in Ikeja, Lagos. He hoped that the cooperation between the institution and Waco would grow and that many more artists

First Prize winner, Monsuru Alashe.

JOURNEY OF A THOUSAND MILES, Weavers Thread Painting by Monsure Alashe

Olufunke Adepuji

One Day, Life Taught Me a Hard Lesson... Olufunke Adepuji

eality was so brutal! It crept in on me one sunny late Monday morning. Then, I recall, I was only ﬁve years old. My mum, on her way to a neighbourhood market, had left me with the owner of a corner shop at the entrance

or many literature scholars in Nigeria, Christopher Okigbo's name evokes lots of literary landmarks. His name is associated closely with postcolonial literature; a movement in African literature that was ethically-blind as well as with the heroes of the Biafran war. Imagine Okigbo’s name in today’s world of hashtags. It would be dumbfounding to see a conglomerate of associations, which puts this legendary poet at the centre of conversations ranging from national to global. To remember this literary colossus, a threeday conference has been scheduled to hold from September 20 till 22 at his alma mater, University of Ibadan to celebrate the life and times of this great influencer in African literature. The conference is the brainchild of Christopher Okigbo Foundation in collaboration with the University of Ibadan. With the theme, “Legacy of Christopher Okigbo: 50 Years on”, discourses and paper presentations will run simultaneously with other activities in honour of the great poet. The Chief Adviser, Christopher Okigbo Foundation, Dr. Wale Okediran revealed that the keynote address at the conference will be delivered by the Nobel Laureate, Professor Wole Soyinka, a contemporary of the late Okigbo. Although not all the sub-themes were not disclosed, it is inevitable that the issues of national unity and a writer’s commitment to his society will be broached. Other topics to be discussed are: “Okigbo As a Father”, “Okigbo As a Writer”, amongst others. It is of interest to note that Okigbo died during the Biafran war at 35. He was a writer cut down in his prime but his works have outlived him. They have remained subjects of critical discourses and scholarly journals. Sadly, most of his works had gone out of print in the 80s and many students of literary arts

Satellite Town ANECDOTES

would participate in the competition next year According to Dapo Adeniyi, the Back Page Productions’ managing director, one of his own missions is to capture space and opportunities for workers in arts and culture. He also said the programme stemmed from a long-abiding belief in Africa by the main organisers in Texas and the possibilities that the continent embodies. He also thanked the artists for their enthusiastic response and the hard work that went into the preparation of the works submitted for the competition and thanked Doreen Ravenscroft and other team members back in Texas that include Sandi Horton and Vivian van Gorder. The original plan was for the leadership of the cultural centre in Waco to be present at the exhibition but other competing engagements made it impossible at the last moments. They, however, regretted not being able to attend this inaugural edition. Hopefully, they would be present in 2018. Adeola Balogun, who spoke for the judges, said it was a very hard task choosing the top winner. The quality of the submissions were so high and so intense. Monsuru Alashe emerged the overall winner because of the added criteria such as originality and resourcefulness in the employment of innovative media. The second place went to Enitan Raji whose mixed media works were especially captivating. The third position was won by Ibrahim Afegbua a sculptor specialising in wrought wire. One of his works is used as the visual for the exhibition poster. Other artists on the shortlist whose works are being exhibited are Akinrinola Hamed Abiodun, Djaku Kassi Nathalie (Lagos-based, Cameroonborn ceramist), Sotonye Jombo, Kessa Babatunde and Eni Bassey. The exhibition was on until Tuesday, August 15 of August. Meanwhile, Monsuru Alashe who leaves for Waco in October will be a guest artist at the Waco Cultural Festival where he will show his works, hold workshops and interact with audiences from all over Texas. The annual theme and the emphasis for the competition is “Telling African Stories”. Waco Cultural Arts, in a statement, explained that they desire African artists to tell Africa’s own stories.

of my street. At this time of the day, most neighbourhood children – some of whom were my playmates – were in school. By then also, the adults had gone out in search of their daily bread. So, this was how this usually lively street suddenly became quiet, except for a few passers-by who showed up once in a while. Well, there I sat all by myself, alone with my childlike thoughts and visions of the world around me. Then...the voices of P. Diddy and Faith Evans, singing “I‘ ll Be Missing You”, drifted towards me from someone’s radio nearby …. It was then I saw her... A paralysed woman straining with each movement, as she laboured towards her destination. And this was directly opposite me! P. Diddy and Faith Evans were meanwhile singing: Every step I take Every move I make Every single day Every time I pray I’ll be missing you Could the duo be singing about this paralysed woman? Wherever she was coming from and wherever she was going to, I had no idea. Not that this mattered to five-year-old like me, anyway. But the poor soul! It struck me poignantly that this was how she was going to live the rest of her life on earth. Did she have children like my mum had my brothers, sister and I? Did she have a husband like my mum had my dad? What do her children feel seeing her in this condition? Tears were involuntarily coursing down my cheeks, as I watched her strain with each movement. What exactly makes some people go through this kind of ordeal? What exactly did we come to do here on earth? These questions buzzed around my little head like bees. But I asked no one for the answer. I simply filed them away somewhere in my subconscious and wiped away my tears with the back of my hands. I didn’t want anyone to think that I was crying because I was missing my mum. My mum? I wouldn’t even bother asking her any of these questions. What was the point? I could imagine what her answer would be. She would at first be alarmed and then consolingly give me a little packet of biscuit with the words: “What do you know about life, child? What could your eyes have seen to make you look so sad?” Perhaps, as an afterthought, she would add: “These things happen, you know.” So, you see why I never bothered telling her about the paralysed woman when she returned from the market. My encounter with this poor soul – which was the first of its kind – remained engraved in my memory. Now and then, it would briefly flash through my mind’s eye, even years later. And this mostly happened whenever I heard P. Diddy rapping – with Faith Evans singing – the lyrics of “I‘ ll Be Missing You”.

Morning Sail by Kehinde Sanwo Oil-onCanvas 2012 (detail)

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FILM: THE ROYAL HIBISCUS HOTEL PREMIERES Olufunke Adepuji

et again, the Toronto International Film Festival (TIFF) beams its spotlight on Nigeria. At the festival, which holds from September 7 to 17, the charming, new romantic comedy from EbonyLife Films, The Royal Hibiscus Hotel, will be screened for the very first time. Besides being the only Nigerian selection, the movie is also one of the three African features in the Contemporary World Cinema category, which spotlights 48 of the best new films worldwide. Set in Lagos and London, The Royal Hibiscus Hotel tells the story of a disillusioned London chef, Ope, who returns to Nigeria and discovers that homecoming can spring unexpected surprises. This is director Ishaya Bakoâ€™s second feature, which follows on the heels of his debut, The Road to Yesterday. Among the star-studded cast-members are: Zainab Balogun, Kenneth Okolie, Deyemi Okanlawon and O. C. Ukeje as well as veteran actors like Rachel Oniga, Jide Kosoko, Olu Jacobs and Joke Silva, many of whom are expected to join the director in Toronto for the screening. The soundtrack features a score by award-winning musician, Cobhams Asuquo, and songs by leading Nigerian artistes including, â€œRomeo and Julietâ€? by Johnny Drille; â€œChemistryâ€? by Falz and Simi; â€œSkintightâ€? by Mr. Eazi; and â€œTo-

Kenneth Okolie (left) and Zainab Balogun (right), play Ope and Deji in The Royal Hibiscus Hotel night, Ocean and Radioâ€? by Nonso Amadi. The movieâ€™s executive producer, Mo Abudu, is thrilled about the upcoming premiere. "The Royal Hibiscus Hotel has been a passion project for me â€“ the chance to tell an intimate story that has heart and soul, and explores romantic love in the older and younger genera-

tions,â€? she disclosed. â€œThe film addresses some of the challenges around communication in relationships, while managing to be funny, warm and entertaining. Many of us have forgotten what it feels like to fall in love â€“ I hope The Royal Hibiscus Hotel re-ignites this feeling in us all." This significant honour identifies the

movie as a quality title. This would be the second time an EbonyLife film has been chosen for TIFF, the worldâ€™s most important publicly attended film festival. The first was for the blockbuster, The Wedding Party, which went on to become the highest-grossing Nigerian movie of all time. Also, the TIFF premiere of The Royal Hibiscus Hotel is good news for filmmakers in Nigeria and the continent â€“ and further confirms the fact that positive African stories are attaining global recognition, which is indicative of improved scripting and higher production values. A major Nigerian bank, Fidelity and Guinness Nigeria Plc are keen supporters of the film. According to Guinness Nigeria Plcâ€™s Marketing Director â€“ Guinness, Spirits and Reserve, Adenike Adebola:"Johnnie Walker celebrates the journeys of the Nigerian Film Industry. For us, the selection of The Royal Hibiscus Hotel to screen at TIFF represents even more of the inspiration that abounds within the next generation of storytellers in Nollywood. We are fully vested in our belief that our films have a rightful place on the global stage." Fidelity Bankâ€™s Divisional Head, Brands & Communications, Charles Aigbe, was equally pleased with the association. â€œWe are proud to be partnering with EbonyLife Films on changing the Nigerian and African narrative,â€? he said. The Royal Hibiscus Hotel , meanwhile, is scheduled for release in February 2018.

PIRACY

Fighting Piracy: Stakeholders Rally for Change at NFVCB

National Film & Video Censor board displaying conďŹ scated works and power generators Yinka Olatunbosun

utside the Alagbon, Ikoyi Office of the Nigerian Film and Video Censors Board was an appalling sight. To those who visit the premises regularly, it is nothing new. Multiple DVD copiers, writable DVDs containing movies and television series produced by Nigerian movie makers were displayed infront of the building where a gathering of stakeholders was held. The large turnout was quite overwhelming; a

roll call of actors, producers, film makers and cinema owners. Some of them had walked past the copies of their original works peddled by profiteers who are unlicensed and unauthorized to copy and distribute the works. There is a section of stakeholders who have thrown in the trowel in this fight against piracy. And they have good reasons for this. The network of perpetrators are more defined and structured than the legal distributors'. Also, the criminals have become very formidable; issuing receipts for illegal sales and mostly in possession of firearms and weapons to counter any effort at preventing them from this cycle of impunity.

The content producers are incapacitated without support from relevant authorities. But this has changed since the inauguration of a task force for the creative sector initiated by the Minister of Information, Alh. Lai Mohammed and the Nigeria Police. Last week, the media witnessed the first in the series of successful raids of unlicensed film distribution sites. Adedayo Thomas, the Executive Director, NFVCB, took journalists outside the building, revealing the outcome of the recent raid where perpetrators are still at large. â€œWe have their office address, phone numbers and location. On our final raid, we found these package, ready for exports. None of these bags can be carried by one person. We have 103 of these bags alone. Here we have

Jenifa's Diary, The Wedding Party with different covers and titles. There are 10 different films in one CD, dubbed in several thousand copiesâ€?, he disclosed. This trend is a matter of serious concern to content producers who also labour to pay for television slots, advertise, recruit workers and distribute their works. The comedienne and producer, Funke Akindele, expressed sadness upon seeing her works in pirated format. She argued that large of distribution network may not necessarily be the reason for the growth of piracy in the creative industry. â€œPiracy has been here for long. I remember when I used to produce Yoruba movies, and Olasco Films would distribute several copies, in thousands, sometimes millions, the pirates are still there. Once you release a movie today, it is pirated. These culprits should be prosecuted and questions have to be answered because people believe that these perpetrators have backbones who are fuelling them. I donâ€™t want to talk about that,â€? she said. Another activist in the fight against piracy of creative works, distributor and producer, Gabriel Okoye, popularly referred to as Igwe Gabosky, revealed that the crime of pirating movies has been enabled by modern technology. â€œWhat we have here is not up to 0.1percent of pirated copies done in Nigeria. There is a chip that is now used in scanning the web so that even if you stay in your house and use your PC to watch an original film, it will automatically record your content. â€œThe owner of the work may have only released 5000copies but the pirates will make millions to sell across Africa. All the landlords where these fake works have been retrieved need to be probedâ€?, he said. Meanwhile, Nigeria is a member of international organizations where the distribution of films and other intellectual works are sought to be protected. In fact, an amendment to the National Film and Video Censors Board Act has been passed to law. Under this legal provision, a perpetrator found guilty is liable to a three-year prison sentence.

T H I S D AY SUNDAY AUGUST 27, 2017

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

CICERO

Editor Olawale Olaleye Email wale.olaleye@thisdaylive.com, SMS: 08116759819

IN THE ARENA

The Many Misses in Buhari’s Speech Either by default or design, President Muhammadu Buhari, last Monday, failed to avail himself of many opportunities in his nationwide broadcast, writes Olawale Olaleye

resident Muhammadu Buhari’s nationwide broadcast last Monday was an anti-climax. After 103 days in London, the United Kingdom, on medical grounds, Buhari was on Saturday treated to a hero’s welcome by a spontaneous but palpably excited crowd at the Abuja airport. And at the Presidential Villa, the jubilation at home was as wild as the one at the airport as family and friends toasted to an improved health. Top of it all, there was joyousness across different parts of the federation. While a majority of the governors was physically present to welcome him back home, some governors led the jubilation in their states and a particular governor stepped up his game by declaring a “no-work day” in his state, in celebration of the return of the president. Although the celebration continued even after the Monday morning broadcast, Buhari, however failed to seize the momentum in spite of all that was on the card whilst he was away. Buhari’s speech on Monday was no less a riot act read out to certain elements in the country. With a generally condemned opening phrase that reads: “Dear Citizens” as if he was not one. Past presidential broadcasts had “Fellow Citizens” or “Fellow Nigerians” as opening phrases. The president’s speech was unable to appeal to the generality of the people, who had been hurting, not since he left for medical checkup in London, but from the time the ‘change’ administration took off with seemingly unrealistic promises. Take for instance, an administration seen as having performed below expectations in practically all its promises, the broadcast thus gave the president, who had canvassed against medical tourism during the electioneering but ended up spending 154 days in total for medical attention, an opportunity to lay the issues bare. He should have seized the opportunity offered by his national broadcast to give some clariﬁcations on his change of mind, perhaps, even if the circumstance had helplessly birthed a genuine need for the trip. But he would not even see a need for it let alone come up with sellable excuses or reasons. As you read this, no one could tell for certain what truly the nature of the president’s ailment is. Since he’s been traveling back and forth for medical check-up, the presidency has refused to hint at the president’s ailment but continued to insist that his health is a personal issue. Again, the Monday broadcast was an ideal platform and avenue, more with the appropriate timing. But he failed to at least dispel some of the swirling theories that are gradually building up around his health.

Of the lackluster nature of the speech, two issues however stood out. One, technically, the president has made his stand known on the issue of restructuring. By passing the buck to the National Assembly and the Council of State and yet without taking a position, even in his right as a citizen and leader of the country, the president showed without equivocation that he was not called out for such an issue. Yet again, it was an opportunity lost. A corollary to this was his declaration on the non-negotiability of the nation’s unity. There is no gainsaying the fact that the nation’s strength lies in her unity. Lest Buhari forgets, the unity of Nigeria is arguably a desire by every leader, encouraged by national creed and which could only be worked towards and not an order to be slammed on everyone as if in a servant/leader relationship. His delivery of that line, particularly, was dictatorial, arrogant and poorly conceived, giving him away as lacking in the basic knowledge of what it takes to hold the nation together, more so at a time various agitations, both for and against the unity of Nigeria were rife. These aside, there were too many other pending issues awaiting the action of the president – political, economic, security, social and of course, governance. It was expected, therefore, that after

103 days in London, the second in a row, the president would prove being on top of these issues and how he was determined to address them. But he brushed them all aside and spoke tough on Biafra and other agitators, as if those were all that mattered to the collective concern, sadly, in the face of hunger, insecurity, staggering disappointment and apprehension. It was a momentum that came effortlessly. The opportunities didn’t play hard to get. Indeed, it wasn’t just for the asking; it was waiting to be taken and boom, Buhari frittered them all away. It wasn’t terrible misses as such; it was a conscious resolve not to seize the momentum but run the show his old-fashioned way. Indeed, the speech was grossly insipid and lost what could have passed as a clarion call to all citizens at a time like this. And with unsavoury tales from the Villa days after his arrival – like the stories of rodents preventing the president from reporting at his desk and canceling of the Federal Executive Council meeting, the ﬁrst after his arrival – nothing seemed to have changed about the president and the presidency, and as it is, it may have become too late to expect either a personal change or a collective transformation of the government.

P O L I T I CA L N OT E S

Osinbajo’s Order on Community Policing

ice-President Yemi Osinbajo, last week, ordered the Inspector-General of Police, Ibrahim Idris, to commence the implementation of community policing. Osinbajo reportedly said this at a one-day National Economic Council (NEC) retreat on security in Abuja, shortly before the president returned from his medical vacation in London. It is trite to say that Osinbajo’s order is clearly in sync with popular view, which has continued to advocate multi-level policing across the country as part of the initiatives to contain the growing multi-faceted security

threats in the land. Experiences of the past few years have shown that the security challenges currently confronting the country cannot be effectively and efﬁciently tackled by a centralised police force. However, making changes to the status quo would require undergoing a process, especially amendment of the constitution and the enabling law, which is the Police Act. It is expected therefore that the police would seek appropriate counsel and approach this presidential order procedurally, while government engages the National Assembly to ensure that the process of achieving community policing is set in motion. That said, the decision was well thought out.

Osinbajo and Idris

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

THE PRESIDENTIAL DIARY

Buhari signing treaties on Thursday. Standing beside him is the Attorney General of the Federation, Abubakar Malami

For Buhari, a Busy Week From a national broadcast to the signing of treaties and several high-level meetings, the ﬁrst week of President Muhammadu Buhari at his desk after he returned from a 103-day medical vacation in the United Kingdom was a busy one. Omololu Ogunmade chronicles the president’s schedule of activities during the week and reactions they generated Monday, August 21

he president began the day with a six-minute nationwide broadcast. The broadcast was accompanied by a wide range of creactions from Nigerians who expected him to address his health status, raise the hopes of downtrodden Nigerians who have been at the receiving end of the nation’s economic crisis and clearly define the way forward on raging issues in the polity. Critics of the broadcast said the president’s address said it was characterised by autocratic tendencies and failed to address economic challenges facing the nation. The president had threatened to deal with anyone who troubles the country’s unity, insisting that Nigeria’s unity was settled and non-negotiable. Hence, he said matters of restructuring which had been a subject of agitation in the past three months was the exclusive preserve of both the National Assembly and Council of State. Buhari also did not have kind words for criminals such as terrorists, kidnappers and violent herdsmen threatening security of the nation as he tasked security operatives to take the battle to them and put an end to their nefarious and deadly activities. However, there were many other Nigerians who were excited by the president’s broadcast. They hailed him for avoiding verbosity in his broadcast and making it concise, sharp and straight to the point. Also on Monday, shortly after the broadcast, the president wasted no time in signing a letter of resumption of duty which he accordingly dispatched to the National Assembly. With the letter, Buhari retrieved power which he transmitted to his deputy, Prof. Yemi Osinbajo, on May 7, when he was leaving for London on medical vacation. But the news of his resumption which ought to be accompanied with grinning expressions was followed by a wide range of criticisms following a comment credited to one of his Senior Special Assistant on Media, Malam Garba Shehu, that he would be working from home because rodents had taken over his office. The declaration was the subject of discussion on all social media and traditional media throughout the week. The foreign media also joined the fray as they mocked Nigeria with such headline as: “Rats Chase Nigeria’s President from Office.”

Tuesday, August 22 While the condemnation of the news of the president working from home and the reason behind it raged in both the traditional and social media throughout the week, the president was busy meeting with service chiefs at the annex office in his home the

following day. Present at the meeting, which lasted for three hours, were the Chief of Defence Staff, Gen. Gabriel Olonisakin, Chief of Army Staff, Lt. Gen. Tukur Buratai, Chief of Air Staff, Air Vice Marshall Sadique Abubakar, National Security Adviser, retired Major General Babagana Monguno, Director General of the Department of State Services, Mr. Lawal Daura, Chief of Staff to the President, Malam Abba Kyari, and Acting Director-General of the National Intelligence Agency. Chief of Naval Staff, Rear Admiral Ekwe Ibok-Ibas, who was absent only service chief absent, was represented at the meeting. During the meeting held behind closed doors, Buhari ordered the service chiefs to rid the nation of various security threats confronting it and simultaneously ensure the protection of lives and property of citizens. The president specifically ordered the security chiefs to deal decisively with the threats posed to Nigeria’s corporate existence and its citizens by activities of Boko Haram, Independent People of Biafra (IPOB), violent herdsmen and kidnappers. The president also warned the military heads to fight any threat to Nigeria’s unity, insisting that the nation’s corporate existence was not negotiable. The service chiefs promised to comply with the directive.

Wednesday, August 23 While the nation looked forward to seeing Buhari preside over the first Federal Executive Council (FEC) meeting in the past 103 days since he left the country, information came from the Special Adviser to the President on Media, Mr. Femi Adesina, that the FEC meeting had been canceled. He gave no reason for that. This came as a surprise to many because all through the time the president was away, the then Acting President Yemi Osinbajo-led cabinet never missed any weekly meeting, thus raising further speculations about the reason for the cancellation. However, the president received the report of the probe of the suspended Secretary to the Government of the Federation (SGF), Mr. Babachir David Lawal, and the Director-General of National Intelligence Agency (NIA), Ambassador Ayo Oke, from the Osinbajo-led investigative committee set up to probe the two officials. The three-man panel was mandated by the president on April 19, to investigate the SGF over allegations of financial impropriety in his handling of the work of Presidential Initiative on the North East (PINE) and equally probe the discovery of $43.3 million by the Economic and Financial Crimes Commission (EFCC) in a residential apartment at Osborne Towers, Ikoyi, Lagos earlier in the year. Oke had claimed that the money belonged to NIA. Other members of the committee were the Attorney-General of

the Federation (AGF) and Minister of Justice, Abubakar Malami, and the National Security Adviser, Babagana Monguno. The committee which initially had 14 days to conclude its assignment and submit findings to the President on May 3, later asked for five days extension. However, 24 hours before the committee was expected to finally submit the report on May 8, the president proceeded to London on medical vacation. He did not return until Saturday, August 19, 103 days after. After submitting the report, Osinbajo declined to disclose the content of the report, saying having submitted it to the president, the document became his exclusive preserve. He said the president would make his own decision from the report based on the committee’s findings and recommendations, adding however, that members of the committee were fair to the persons investigated.

Thursday, August 24 On Thursday, Buhari signed nine international agreements meant to strengthen anti-corruption war, boost the economy and improve security. After appending his signatures to the treaties, he expressed hopes that the action would enable the country to pursue the war against corruption with vigour, check illicit flow of funds, boost the tax regime, guarantee food security and also improve Nigeria’s living standard. Submitting that his action was in compliance with the powers conferred on him by Section 5(1) (a) and (b) of the 1999 Constitution (as amended) and Article 7 of the Vienna Convention on the Law of Treaties of 1969, the president directed all relevant agencies to ensure they play their own defined roles in the implementation and application of the treaties with a view to providing Nigeria with inherent benefits. He described the move as an important milestone in Nigeria’s sovereign capacity to fulfill its own international obligations, noting further that it was another step in the pursuit of improved security, economy and anti-graft war by the country. According to him, the act which had equally been replicated in the United Arab Emirates (UAE), provides Nigeria with the full-fledged opportunity to enjoy cooperation with foreign authorities in its pursuit of anti-corruption campaign. The agreements signed by the president were: Agreement on Mutual Legal Assistance in Criminal Matters, Agreement on Mutual Legal Assistance in Civil and Commercial Matters, Agreement on the Transfer of Sentenced Persons and an Extradition Treaty. Others were: Charter for the Lake Chad Basin between Nigeria, Cameroun, Central African Republic, Libya, Niger and the Republic

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

THE PRESIDENTIAL DIARY t'03 #6)"3* " #64: 8&&, t Continued from Page 70

President Buhari with Governor Rauf Aregbesola and Ondo State Governor Rotimi Akeredolu while receiving the Governors’ Forum at the State House l of Chad; African Tax Administration Forum Agreement on Mutual Assistance in Tax Matters and World Intellectual Property Organisation Performances and Phonograms Treaty. The World Intellectual Property Organisation Treaty on Audio-Visual Performances and the Marrakesh Treaty aimed at facilitating access to published works for persons, who are blind, visually impaired or otherwise. Also on Thursday, the president received two high commissioners. They were Ambassador of the United States to Nigeria, Stuart Symington, and that of the United Kingdom, Paul Arkwright.

Friday, August 25 On Friday, the president met with governors of the 36 states. In the meeting, Buhari publicly praised his deputy, Prof. Yemi Osinbajo, saying he deployed the opportunities of his age and intellect to effectively govern the country when he was away. The president who said he was so impressed by Osinbajo’s performance while watching him on the television, said he was compelled to invite him to personally thank him for his services. Buhari who also said his morale was boosted by the love shown to him by Nigerians irrespective of their religious and ethnic backgrounds, thanked the governors whom he said pleased him by their performances. The president who further stated that the current depreciation in the value of the naira was not the design of his government and would take sometime to correct it, added that the situation could not be changed overnight. He said when he was in London, some Nigerians marched against him, sang the national anthem and asked him to return home. He said he had heeded their call and returned home, praying that such Nigerians would not be stranded abroad but would also return to the country. Earlier on Friday, Buhari had simultaneously received members of the executive committees of both the All Progressives Congress (APC) and Peoples Democratic Party (PDP) who had visited him in the State House to welcome him back home. During the meeting, Buhari said being in opposition in a democracy did not imply enmity, hostility or antagonism but rather an involvement in the membership of a vibrant and responsible platform. According to him, the visit of both party leaders at the same time was an expression of the unity of Nigeria, adding that the situation also showed that the nation’s democracy was maturing. Buhari who further said he was glad to see the leaders, asked them to convey his gratitude to Nigerian citizens in their respective states who prayed for his recovery as he enjoined them to keep praying for the prosperity of the country. In his remark, National Chairman of the PDP, Senator Ahmed Makarfi, said despite being in opposition, members of the PDP did not fail to

Vice President Osinbajo presenting the report of the presidential probe panel on the SGF and DG, NIA to President Buhari

Buhari in a handshake with PDP Chairman Markarﬁ, while Vice President Osinbajo, APC Chairman Oyegun and Chief of Staﬀ Kyari look on with all sense of responsibility,” assuring that this Makarfi who also said opposition was not pray for the recovery of the president when he will be done “by giving you a good run for your synonymous with “madness,” added that was on medical vacation because they knew that money and constantly keeping you on your toes the PDP would play its own opposition role the nation’s health was also connected to that of as we all strive to make this country better.” “energetically, vibrantly, but very decently and the president.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

CICERO/INTERVIEW

Odigie-Oyegun: Buhari Swore to Defend a United Nigeria and He’s Doing Just That National Chairman of the All Progressives Congress, Chief John Odigie-Oyegun, while featuring on ARISE TV, the broadcast arm of THISDAY Newspaper, after the national broadcast by President Muhammadu Buhari, shed more light on the implications of the President’s speech with regards to national unity, restructuring, agitations, insecurity and the president’s ill-health vis-a-vis his capability to withstand the rigour of the office, arguing that the President could work from anywhere, including his bed room. Paul Obi, who monitored the interview, presents the excerpts

the issues, why did you elect them? Why did we bother to create a National Assembly? They are there representing their constituencies. They are there representing the people of this country. They are there to put forward the views, the fears, the perceptions, the hopes, the aspirations of the people they represent. Like I said, they are from all the nooks and crannies of this country; I don’t think you can improve on what the President has said, quite frankly. You have the Federal Republic – it is a beautiful place for exchanging ideas as to how we can make our co-existence a little more sensible. At the end of the day, you have your representatives in the National Assembly. I don’t know what they want.

he President said the National Assembly and the National Council of State are the legitimate bodies to address key national discourse. The question is, does this foreclose any form of National Conference as being canvassed in certain quarters? I have not heard about any call for a National Conference at this stage. All I have heard them say is that, we should go back to the conference that was held by the President Goodluck Jonathan tenure. But what I think the President is saying quite clear, yes, the media is talking and the rest, if there are concrete issues, proposals, we the people of this country have elected representatives in the Senate, in the House of Representatives, that come from every nook and cranny of this nation. Why can’t they? Why can that be a platform – a major platform, where these issues can be canvassed, discussed, legislations proposed and we move on. Perfect one! Let’s take a look at this: the president showed that he was abreast of development in the country; he said the unity of Nigeria was settled and not negotiable. What particularly are the effects this is expected to have on the on-going discussions? Well, it draws a red line, quite certain. A lot of the agitations have been really out of bounds, no question about that. Some of the things that have been said in the South-east by this young fellow, who seemed to have seized leadership from their elders, are hate-induced, meant to antagonise other Nigerians. They draw maps that take over territories, that they know nothing about, historically and otherwise. So, it is only necessary, for a president, a president of a united Nigeria cannot say anything else, and the constitution doesn’t even provide for that possibility of dismemberment. We elected him to preserve and maintain and defend the constitution of this nation. All he is saying, I swore to defend a united Nigeria. So, please, whatever you are discussing, please don’t go there. You heard the President say some of these were steps taken too far. Does it suggest that, perhaps, the time is now for sanctions? What it suggests is just passing a note of caution. I want to put it stronger, a warning, that this kind of discourse that does not know any bounds of decency, that is incendiary, that is meant to set people against people in the Federal Republic, cannot be tolerated. Anybody who has ears to hear will then hold back, no problem. But if you persist, of course, in doing things that threaten the basic existence of the nation, destabilise the nation, create conditions for fracture of enormous proportion, then, it is his sworn responsibility, first to caution, which he has done. And of course, those that fall on deaf ears, he has a responsibility to defend. Some have taken exception to the president calling some agitators irresponsible, believing that this was

Let’s talk security. The president appeared to have indicted the security forces, saying there would be reinvigoration? I don’t know if it’s an indictment. All he had said, you have done well, but you have allowed a few slippery things here and there. Now, you must tighten up, you must buckle up. More of, you have done well but don’t let it get into your heads. It’s time to tighten the scrolls and then go after these guys.

Odigie-Oyegun...Buhari can work from anywhere

actually too hard, isn’t it going to create further anger and heat up the polity? Frankly, sometimes, I even think he chose a mild word, because some of these comments, some of these discussions, have gone beyond what can be accepted, have gone beyond any responsible sense. It’s as if people don’t care about the cost, the likely repercussions of what they are saying, what they are doing and what they are planning. Quite frankly, for those who have been through one war, like one of these commentators said, for those who have been actually through one war, you will not wish another war on yourself. Reacting to the President dropping some of these issues at the doorsteps of National Assembly and National Council of State, how then can those who are not members of these two bodies participate in discussions about their aspirations, or particularly, that this may not represent the true colour of the country? Listen to Mr. President, the beauty of a federation, every group has grievances, he said that. The beauty of a federation is that it allows various groups to discuss issues, and work out the basics for mutual co-existence. Further, eventually what he has said, you have your representatives. Like I said, they come from every nook and cranny of this nation. If you don’t trust them, if you don’t want them to discuss

You have met with the President, is the President ready to resume duty fully and effectively? Let’s concede one thing, yes he’s here, he’s our President, he’s our figure head, he’s the light house of the nation. All those duties, he is ready to perform. In any case, there was always governance going on. Now, instead of a team of one, we have a team of two. Let’s concede, he’s still convalescing, he’s done a fantastic job even between the last times – three weeks, four weeks that I saw him – he has improved tremendously. What we must not do, perhaps, and what I think, one favour he should do himself is, for now, in the next few weeks, or few months, take it a little bit. Talking about taking a little bit, there are reports that President will be working from his home, isn’t this an indication he may not be fully ﬁt? Are we so bureaucratic that you must wake up in the morning; you must report at a desk, you must treat files and the rest of it? This is an IT world; it’s a different world. What is important is that the job gets done. Whether he does it from his bedroom, from his sitting room, his home office, it doesn’t matter. All that matters is, let the job be done and it will be done. Why can the President give us details about his health? What is actually wrong with him? That is a decision only the President can make. He must have good reasons for not giving details. Well, he told us he was ill, when he came back the first time, he told us he had never been through that kind of experience before. I think that for me is good enough. But it’s his discretion to make public what precisely the issues were or not. I think we should grant him that privilege.

NOTES FOR FILE

JAMB: A Plunge into the Abyss Whenever you ponder the problems militating against a desired educational system in Nigeria, look not too far away from the immediate environment. Just like an argument in defence of medical tourism, whilst the need to patronise local hospitals, even at the level of leadership as personal example, is not subject to a debate, emphasis cannot be glossed over personnel and capacity. And if what education has become today is truly a cause for concern for patriotic leaders, then, there is a compelling need to look at the capacity of those at the helm of affairs and at all levels in that critical sector. A sub-sector of the nation’s educational sector gave itself up recently as lacking in all ramifications, the gravitas

required to function effectively, when the Joint Admissions and Matriculation Board (JAMB) reduced the cut-off marks for admission into higher citadels of learning to ridiculously low 120 from 180, whatever the pretext. And to further ridicule that office as well as all those who work there, the Registrar, Professor Ishaq Oloyede, said it was not JAMB but stakeholders that fixed the cut-off marks. It is therefore trite to ask: on whose table does the buck stop? Does JAMB not have representatives in the stakeholders’ forum? Even if stakeholders suggested such condescending and completely mortifying cut-off marks, is it binding on JAMB to accept such and implement? Even at 180 in the previous academic

year, there were arguments that it was still quite low if compared with other affiliate institutions in other parts of the world. To now peg the cut off mark at 120 is to say the least, ridiculous and clearly, an evidence of lack of capacity and constructive thinking by the JAMB leadership. The good thing is that some of the stakeholders, which Oloyede referred to as fixing the cut-off marks, have also come out to condemn the decision in national interest. But more importantly, the federal government needs to look into the educational system more seriously and carry out serious overhaul of the entire system, because whether or not they like it, the future rests on knowledge economy and education is the key here.

Prof. Oloyede

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

CICERO/ONTHEWATCH

Justice Ademola’s Endless Battle Determined to correct the erroneous impression by the presidency, anti-corruption agencies and even the public that it is shielding judges from corruption, the National Judicial Council, last week, appealed the judgment by Justice John Tsoho of the Federal High Court in Abuja, which stopped its probe of Justice Adeniyi Ademola. Davidson Iriekpen, who has been following the case, reports

our months after he was cleared of corruption charges, Justice Adeniyi Ademola of the Federal High Court in Abuja is in the news again. This time, he is at loggerheads with the National Judicial Council (NJC), the highest judicial organ in the country. The council, which had previously frantically defended him, is bent on probing him over a petition it received against the judge. Thus, to show that it would not tolerate corruption or anything close it, the NJC, last week, appealed the judgment of Justice John Tsoho of the Federal High Court in Abuja, which ordered that the council should not invite Justice Ademola for investigation over a petition written against him but later withdrawn by the petitioner. The judge, while delivering judgment in a matter of judicial review in the form of orders for declarations, prohibitions and injunctions, filed by Justice Ademola, held that the author of the petition having withdrawn it, the NJC lacked the power to continue to investigate him over the allegations contained in the petition. He concluded that the judge could not be made to prove innocence over a petition that was voluntarily withdrawn by the petitioner. He also said the insistence of the NJC and three others that Justice Ademola must appear is contrary to the provisions of Section 36 (5 and 6) of the 1999 Constitution, is unconstitutional, illegal and unlawful. Justice Ademola through his counsel, Oladimeji Ekengba, had dragged the NJC, Justice Umar Abdullahi, Justice Babatunde Adejumo and Mrs. Rakiya Ibrahim, before the Federal High Court, seeking judicial review in the form of orders for declarations, prohibitions and injunctions. In his statement of claim, he noted that a petition was written against him by one Hon. Jenkins Duvie Giane Gwede, sometime in 2016, upon which he was invited through a letter dated July 25, 2016, for investigation before a three-man panel of the NJC, on August 8 and 9, 2016. However, the applicant claimed that the petitioner, on his own volition withdrew the petition against him on July 27, 2016, on the grounds that it was written in error and misinformation. The withdrawal of the petition was said to have been supported with affidavit evidence, deposed to by the petitioner himself, in which he clearly stated reasons for the withdrawal. Justice Ademola, however, claimed that on September 26, 2016, when he appeared before the NJC panel, comprising Abdullahi, Adejumo and Ibrahim, he was asked to still prove innocence of allegations that have been withdrawn by the maker. He claimed that all entreaties to the NJC panel that there was no petition against him any longer proved abortive as the panel was said to have insisted that he must go ahead to establish his innocence. The plaintiff further claimed that his position that the NJC panel could not turn itself into the accuser, prosecutor and judge in the matter, was also unsuccessful. He therefore urged the court to prohibit the NJC from inviting him for investigation in a petition that had been withdrawn on the ground that his right to fair hearing would be violated in view of the fact that the respondents could not be the accuser, prosecutor and judge in the matter. In his judgment, Justice Tsoho also agreed that the right of the plaintiff would be violated by the respondents on the strength of the withdrawal of the petition and the filing of affidavit in support of the withdrawal by the petitioner. The judge consequently stopped the NJC and its three-man panel from

Justice Ademola

taking any further action in respect of the withdrawn petition so as not to violate the right of the plaintiff to fair hearing as enshrined in Section 36 of the Constitution. THISDAY investigation revealed that the petition against the judge was from the Committee of Anambra State Peoples Democratic Party (PDP) National Assembly members-elect based on their dissatisfaction with his handling of a case assigned to him. They had petitioned the NJC, accusing Justice Ademola of corruption, judicial impertinence, miscarriage of justice, bias and of reading in the open court a judgment different from the written one. Dated July 14, 2016 and addressed to the NJC Chairman, the petition referred to the case between Senator Annie Okonkwo & 43 others Vs Independent National Electoral Commission and 22 others (Suit No. FHC/ABJ/CS/177/2015). The complaints of the petitioners, among others, was that Justice Ademola’s decision to read in the open court, on July 8, 2016, a judgment at variance with the written one, the certified true copy of which was made available five days after he delivered judgment in the suit. But dissatisfied with the judgment, the NJC in its 10 grounds notice of appeal, asked the Court of Appeal in Abuja to set aside the judgment of the Federal High Court in its entirety. Through its counsel, Dr. Elijah Okebukola, the NJC argued that the Federal High Court was wrong to have assumed jurisdiction over the matter and maintained that the Federal High Court assumed jurisdiction in the mat-

It is not clear why the NJC, which had previously defended Justice Ademola was suddenly hell bent on having a thorough probe. But many analysts feel that it was to correct the erroneous impression by the presidency, anti-corruption agencies and even the public that it was shielding any of the judges from corruption-

ter where the National Industrial Court of Nigeria had exclusive jurisdiction. It stated: “The conduct in issue relates to the work of the respondent as a judicial officer and employee of the Federal Government of Nigeria under the supervision and regulation of the first appellant. In relation to the conduct in issue, the Respondent was summoned by the first appellant for investigations pursuant to the Judicial Discipline Regulations. “The disciplinary control of judicial officers and matters connected therewith are employment matters. The National Industrial Court of Nigeria has exclusive jurisdiction in disputes relating to the disciplinary control of an employee by an employer or persons designated by the employer. The respondent alleged a violation or likely violation of his fundamental human rights. The National Industrial Court of Nigeria has exclusive jurisdiction in disputes relating to the breach or alleged breach of human rights of an employee by his employer.” It also argued in another grounds of appeal that the trial court had the power to investigate a judge even after the petition against the judge had been withdrawn. It therefore stated that the Federal High Court “erred in law by holding that Sections 36 (5) & (6) of the Constitution of the Federal Republic of Nigeria preclude the first appellant from investigating the subject matter of a withdrawn petition. The council also argued that the Federal High Court misdirected itself “by relying on the respondent’s assertion that he was required to prove his innocence over an allegation arising out of or in connection with a withdrawn petition,” stating that as part of the particulars of the alleged error committed by the trial court, “there was conflicting evidence as to whether the petition against the respondent was withdrawn. “The Judicial Discipline Regulations empowers the first appellant to continue an investigation even where the petition against a judicial officer has been withdrawn. The investigation of the first appellant is a fact-finding exercise. The appearance of the respondent before the fact-finding panel of first appellant is not a call for the respondent to prove his innocence. The Constitution of the Federal Republic of Nigeria I999 does not limit the supervisory or regulatory roles of the first appellant to only cases where there is a petition against a judicial officer.” Justice Ademola and five other judges were last year, suspended by the NJC, following a Department of State Service (DSS) crackdown on judicial corruption. He was later discharged before Justice Jude Okeke, of the Federal High Court of the Federal Capital Territory alongside his wife, Olabowale, and a senior lawyer, Mr. Joe Agi (SAN), of an 18-count charge of fraudulent diversion of huge sums, ranging from local and foreign currencies, possession of firearms and involvement in bribe-taking. Justice Okeke, who presided over the matter, said the prosecution failed to prove its allegation, stating that the case against the judge and his wife were built on speculations. According to him, the prosecution failed to prove that the N10 million transferred to Justice Ademola’s wife by Mr. Agi was offered as an illegal inducement. He also said the allegation that N30 million was given as an inducement to Justice Ademola was limp because the prosecution witnesses admitted not knowing the purpose for which the money was given. On the allegation of embezzling huge sums of foreign and local currencies, Justice Okeke said the prosecution witness admitted that judges are entitled to estacodes, usually given in foreign currencies, especially American dollars. It is not clear why the NJC, which had previously defended Justice Ademola was suddenly hell bent on having a thorough probe. But many analysts feel that it was to correct the erroneous impression by the presidency, anti-corruption agencies and even the public that it was shielding any of the judges from corruption. However, the recall of Justice Ademola from suspension and the directive by the NJC for him to resume sitting had led to altercations between it and the presidency which felt that the council was colluding with corrupt judges to dispense questionable justice, thereby bringing the fight against corruption of the current administration to disrepute.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

BRIEFINGNOTES A Critical Look at the NBS Report The latest ﬁgures on the level of graft in the public service appear to drive home the reality of a festering national malaise, reports Ndubuisi Francis

“N

o matter how corrupt, greedy, and heartless our government, our corporations, our media, and our religious and charitable institutions may become, the music will still be wonderful,” Kurt Vonnegut Jnr. had written in the New York Times bestseller: “A Man Without a

Country.” This holds true for Nigeria in view of recent developments. While the National Bureau of Statistics (NBS) churns out damning report on the level of corruption in the nation, permeating through the entire national landscape and particularly hibernating in the public service, where the government is perceived to be waging a fierce battle, the courts and the Economic and Financial Crimes Commission (EFCC) continue to regale the nation with recoveries of humongous loot from power brokers of yesteryears. With a total number of bribes paid to public officials in Nigeria within a 12-month period standing at 82.3 million, and a per capita number of bribes paid to public officials by the adult population at 0.9 per cent, the nation is indeed in dire straits. Any wonder why the global anti-corruption watchdog, Transparency International (TI) annually rates Nigeria low on the scale! Last week, the NBS, in collaboration with the United Nations Office on Drugs and Crime (UNODC) revealed in a report that an estimated N400 billion or the equivalent of $4.6 billion in purchasing power parity (PPP), representing 39 per cent of the combined federal and state education budgets in 2016, is paid out as bribes to public officials in Nigeria annually. The125-page National Corruption Report, which covered the period between June 2015 and May 2016, strongly decked bribery in flowery terms, describing it as an established part of administrative procedure in Nigeria. According to the report, which has so far ruffled some feathers, almost a third of Nigerian adults (32.3 per cent) who had contact with public officials between June 2015 and May 2016 had to pay, or were requested to pay a bribe to such public official. The police and the judiciary occupy unenviable spots as the biggest bribe-takers, the report said.

The Magnitude of Public Sector Bribery The survey showed that a large proportion of bribes in Nigeria (42 per cent) are paid to speed up or finalise an administrative procedure that may otherwise be delayed for long periods or even indefinitely, thus making bribery the most effective option for facilitating that service. According to the report, the second largest proportion of bribes (18 per cent) is paid to avoid the payment of a fine, a frequent request in citizens’ encounters with the police, while 13 per cent of all bribes are paid to avoid the cancellation of public utility services, an indication that the provision of the most basic amenities, including water and sanitation, can be subject to abuse of power by public officials in Nigeria. Although fewer people come into contact with judicial officials than with police officers over the course of the year, the report indicated that when they do, the risk of bribery is considerable (33 per cent). The prevalence of bribery in relation to prosecutors is the second highest, closely followed by judges and magistrates, at 31.5 per cent. While the presidency and police appear to be living in self-denial on the NBS survey, the report had noted that the magnitude of public sector bribes in Nigeria becomes even more palpable, when factoring in the frequency of the payments, adding that the majority of those who paid bribes to public officials did so more than once over the course of the year. Bribe-payers, it added, pay an average of some six bribes in one year, or roughly one bribe every two months. It equally revealed that bribe-payers spend an eighth of their salary on bribes, noting that the average sum paid as cash bribe in the country was approximately N5,300, which is equivalent to roughly $61(PPP). “This means that every time a Nigerian pays a cash bribe, he or she spends an average of about 28.2 per cent of the average monthly salary of approximately NGN18,900. Since bribe-payers in Nigeria pay an average of 5.8 bribes over the course of one year, 92 per cent of which are paid in cash, they spend an average of NGN 28,200 annually on cash bribes – equivalent to 12.5 per cent of the annual average salary,” it added. The report, which is the first of its kind in the country in terms of scope, said Nigerians consider bribery the third

Yemi Kale, Statistician General of the Federation

most important problem facing their country, after the high cost of living and unemployment, well ahead of the state of the country’s infrastructure and health services. The report, however, observed that “public sector bribery is not the only form of corruption affecting Nigeria: the prevalence of bribery in relation to selected employees of private companies is 5.5 per cent, meaning that bribery is also significant in the private sector in Nigeria. “However, the payment of bribes to public officials is the most familiar and widespread form of corruption directly experienced by the population and the one that most affects the lives of ordinary citizens,” it noted. Giving an insight into how bribery works in the country, the report said public officials in Nigeria show little hesitation in asking for a bribe, noting that the vast majority of bribery episodes are initiated either directly or indirectly by public officials (85.3 per cent), while almost 70 per cent of bribes are paid before a service is rendered. It stressed that with such a large portion of public officials initiating bribes, which are paid up-front, it seemed that many public officials show little hesitation in asking for a kickback to carry out their duty, adding that bribery is an established part of the administrative procedure in Nigeria. On the average number of bribes paid to public officials by adult Nigerians in the period, by zone, the North-west recorded 0.86 per cent; North-east 0.78 per cent; NorthCentral 1.1 per cent; South-west 1.13 per cent; South-South 1.05 per cent; and South-east 0.60 per cent.

to fight corruption, bribery and corrupt tendencies in the ranks of the personnel of the Force. “For the avoidance of doubt, since the inception of the present administration, Nigeria Police in July 2016, after the reported survey has been conducted and concluded, the Inspector-General of Police has introduced and implemented diverse internal reforms aimed at bringing corruption to zero level in the Force.”

Pondering the Police Reaction

Considering the Implications

Quite expectedly, the report did not go down well with police authorities. Officially reacting to the report, the Police Public Relations Officer, CPS Jimoh Moshood said it failed in many respects to appraise the tremendous efforts by the Police to rid itself of corruption. He stated: “The Nigeria Police, after a careful study of the report, wishes to state categorically that it is entirely misleading, a clear misrepresentation of facts, essentially based on hearsays, which made it unempirical, and the survey instrument absolutely inadequate and therefore a plain distortion of the improved situation in the force as a result of the renewed commitment and determination

Vice-President Yemi Osinbajo recently signed some executive bills, which touched on a number of policy issues. The issues include the promotion of transparency and efficiency in the business environment designed to facilitate the ease of doing business, among others. The orders are designed to reshape the way things are being done in the public and private space. The public service is on the driver’s seat of implementing the executive orders. Thus, with the NBS report, it does seem that corruption is pervasive, and the rot deep-rooted. It, therefore, means that the EFCC and relevant agencies need to design a more appropriate strategy to combat the scourge of corruption.

A Rattled Presidency Reacts Also reacting to the report, especially against the backdrop that it was conducted in the first year of the present administration, the Senior Special Assistant to President Muhammadu Buhari on Prosecutions, Okoi Obono-Obla said the survey was not an indictment on the Buhari administration. He said the amount and other figures involved did not portray the anti-corruption war of President Buhari as ineffective. Blaming the judiciary for the low successes recorded in the fight against corruption, he said: “The judiciary has not demonstrated enough commitment to the ongoing war on corruption. That is why the judges, who were accused of corrupt practices, were re-instated to their jobs by the judiciary, without recourse to morality. Though many of them were exonerated after due trial, for the fact that they had faced charges of corruption, they should have been excused from the bench,” Obono-Obla said.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

CICERO/REPORT

President Buhari (right) in handshake with governor Bello of Kogi State

A Governor’s Thoughtless Gesture The one-day public holiday declared on Monday by the Kogi State Governor, Alhaji Yahaya Bello, in celebration of President Muhammadu Buhari’s return to the country was the height of executive indiscretion, writes. Yekini Jimoh

he Kogi State Governor, Alhaji Yahaya Bello, declared last Monday, August 21, as public holiday to mark the return of President Muhammadu Buhari after spending over three months in London for medical checkup. This development was however welcomed with mix feelings, considering the economic situation facing the state particularly, when a huge chunk of the civil servants and pensioners are yet to be paid in over 20 months. Thus, on Monday last week, the economy of the state was literally paralysed as banks did not open to customers. Ministries in the state too were shut down even as medical services were also not available to people as a result of the public holiday. Some of the indigenes, who spoke with THISDAY noted that “while workers and pensioners were hungry, the Commissioner for Finance, Mr. Idris Asiru, was busy displaying affluence and organising what looks like fanfare as if we are a conquered generation.” However, out of the 36 states of the federation, it was only Kogi that declared public holiday to honour President Buhari, when Katsina, the home state of the president did no such thing. Many therefore wondered why Kogi chose to be different. According to a press statement by the Director General on Media and Publicity, Mr. Kingsley Fanwo, the public holiday and thanksgiving day was declared by the governor for the safe return of President Buhari. “The gesture is in line with the support of the Kogi people for the renaissance of our nation by Mr. President. We urge Kogites to also use the occasion of the Public Holiday to pray for Mr. President as he resumes his responsibilities of repositioning Nigeria.” The Peoples Democratic Party (PDP) Kogi State Chapter, a major opposition party in the state, however issued a press statement to that effect and described the action of the governor as an aberration. The party, in a statement by Achadu Dickson, Director, Research and Documentation, lamented that while it was an acknowledged fact that governance in the state had drifted in the last 17 months, declaring a public holiday in the state was the height of lack and loss of ideas. Achadu said while governance in the state has been brought to its lowest ebb, with workers owed salaries and pensions for as long as 17 months, the heavy indebtedness by the state to commercial banks to the tune of N35billion, with nothing to show in terms of infrastructure leaves much to be desired by the declaration of a public holiday. While noting that as a party, the PDP shared in the joy of the health recovery of the president, and has always

joined in the prayers for his quick recovery, the loss of man hours with the declaration of a public holiday was an “indication that we have reached the lowest ebb in terms of governance. The recent government action shows that we have entered a one chance administration in which the ship of state is heading to no direction.” The PDP said rather than devote energy to pray for the president, citizens should pray for God to heal Kogi State, noting that the state had lost focus, and was losing the decency identifiable with serious states in the country. Also reacting, Senator Dino Melaye representing Kogi West senatorial district blasted Bello for declaring Public Holiday to celebrate Buhari’s return to the country. Melaye, who condemned the act on a social media platform: ‘Positive thinker’, described Bello’s decision as hypocritical. While expressing worries on the way Kogi State was being governed by the present administration, Melaye noted that the latest action further confirmed Bello’s gross incompetence and (that he is) outrageously incapable to lead his people. According to him, “President Buhari must be disgusted with the juvenile and bootlicking attitude of the butterhead governor of Kogi State. Kastina State, the home state of our beloved president has not declared public holiday, why then is Yahaya Bello taking panadol for another man’s headache? We love our president in Kogi State no doubt. But to take hypocrisy to a legendary level is worrisome – further confirmation of Bello’s gross incompetence and outrageous incapacitation. Declaring pubic holiday will not stop you from going to prison. Pay civil servants and Pensioners to reduce your prison term. God bless Kogi State.” The Igala Consultative Forum through its National Secretary, Sam Ugbede, also condemned in totality the sudden declaration of public holiday in Kogi for Buhari’s successful return back home. “The ill-health of our president was of great concern to all Nigerians, and across all religions, and we all remain eternally grateful to God for answering our collective prayer, by granting our leader with abundant health. The Buhari we saw, we are all happy with but our surprise is the declaration of public holiday by the government of Kogi State suddenly, what is it for? “He came back during the weekend, which is traditional public rest period, why extending it to Monday again, when Monday’s are usually busy day? We did not see any reason or meaning for such restriction. The lacuna is that this unthinkable decision is enough to cost Kogi economy colossal amount and the lives of innocent patients, who are scheduled for various medical services

today. “There is no how this accidental holiday will not cost someone somewhere in Kogi his/her life, don’t be surprised that more lives could go. We view this decision of the Kogi governor as immaturity of the highest order and uncalled for. “Buhari was on sick holiday for about 104 days, more than same period our kogi was on holiday as the government under this man was brought to a halt. The activities in Kogi have been grounded for almost 18 months now, because since the beginning of this administration of Bello, nothing seems to be working. “As we are talking, our citadel of leanings are under locks and keys, the civil service is in disarray, our economy is in the state of decadence and paralysis, our state is at the mercy of God, complete breakdown of law and order – lawlessness everywhere. The state is under siege by terrorists. The sudden declaration of public holiday by Yahaya Bello is an eye service and diversionary. He is only pretending to be the good boy of Aso Rock. This action is only meant to cover his tracks. He is only trying to cover the sun with palm tree leaves. “Long before the president left the country, the governor had not been responding to people’s needs and yearnings. Workers are not being paid, despite the bailouts, Paris Club refunds and the constant statutory allocations to Kogi in billions, there is no development anywhere except the personal projects initiated by those of them in positions and funding it with government money. “How many states declared holiday to celebrate the president’s safe arrival? Not even the home state of the president, Katsina, that is supposed to be the happiest people did, because they are his kith and kin. Each time Buhari is on holidays, especially weekends, he is always heading to Katsina to see his families and not Kogi State, same people who are supposed to declare fanfare did not declare public holiday. “Kogi State has stopped work to organise party for the same man, who came back and has addressed the public, meaning partial resumption of work, but at the same time Kogi State is going on forced holiday. This is highly unthinkable. It depicts insensitivity and insensibility,” the group said. The general view is that the decision by Bello to declare a one-day public holiday in honour of Buhari was ill-conceived. There was no basis for it and completely unrelated to the reality in the state, which is believed to have lost more than it had gained since Bello assumed office. Perhaps, the exuberant governor would learn from the knocks that attended his unsolicited gesture.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

CICERO/ REPORT

Guber Race: Battle Shift to Ogun West In this report, Okoye Dubem and Ifediora Obianujunwa write on the rising clamour by Ogun West senatorial district to produce the next governor of the state in 2019 and x-ray politicians from the zone seeking to succeed Governor Ibikunle Amosun.

n its 41 years of existence, only two out of the three senatorial districts have produced governors in Ogun State. The Gateway State has only been presided over by both Ogun East and Central while the third leg of the tripod that made up the state, ‘Ogun West’, is yet to produce a helmsman for the state. The uppermost the zone has gotten is a deputy governor’s slot. But with 2019 in sight, stakeholders in the zone are coalescing to end the acclaimed marginalisation of the zone. Though, political analysts believe that two major factors have largely been responsible for the inability of the zone to produce a governor all the while. First, pundits think the reason for this is because of the inability of the zone to present and support a single candidate and the failure to get buck votes from either one or both of the remaining senatorial districts in the state. The zone’s usual slogan of “Yewa l’okan” meaning “it is now the turn of the Yewa” at every election year always vanished into thin air due to disunity and debilitated political structure in other districts. However, with the renewed vigour and sense of direction of the zone, it appears Ogun West, which is endowed with prominent sons and daughters, both locally and internationally, is all dressed up to take up the gauntlet for the governorship seat in 2019. Ogun West has a population of 1,109,884 which represents 31 per cent of the State population and almost equal percentage ratio with the other two senatorial districts of Ogun Central and Ogun East with 33 and 36 per cent ratios respectively. With a land mass of 6,297.64km, which is 37 per cent of the total land mass in Ogun State, the zone is the economic hub of Ogun State, generating 75 per cent of the state’s internally generated revenue. Also known as Yewa/Awori land, the zone is made up of five local governments, namely, Imeko-Afon, Ipokia, Yewa South, Yewa North and Ado-Odo/Ota Local Government Areas. The sub – ethnic groups in the zone include the Yoruba, Eyo, Anago, Awori, Ketu, Ifonyin, and Egun. Ogun West has not only suffered marginalisation in the aspect of producing a governor, the zone, out of the 20 local government areas in the state, has five local government while Ogun East and Ogun Central senatorial districts shared 15 local government areas. Speaking on the perceived disadvantageous political structure of the zone, a leader of thought from the zone said Ogun West has been ‘suffering’ from an unbalanced political setting in the state and that has compounded its political and developmental woes. According to him, the equity in representation has not been favorable to Ogun West in comparison to the other zones, adding that since the creation of the state the allocation of Electoral College had always been lopsided and thereby making the zone to fight from the rear. He explained that: “Coming to the present structure, the uneven allocation still persists on the basis of wards allocation which is a key element in any political contest. Ogun West has 59 wards; Ogun East has 108 wards, meaning Ogun West is 50 per cent of Ogun East, while Ogun Central has 67 wards. So, if the three zones are going to contest primaries, since the delegates are going to vote base on wards representation, the candidate from Ogun West is already contesting from a disadvantaged position. That is the plight of our zone.” He stressed further that, “Elections are

won through electoral units and it’s also participatory, the equity has not been there in Ogun State, the zones don’t have equal number of delegate. From the units, wards, state constituencies and even local government allocation, there is no balance, the uneven distribution is so wide.” Although the next general election is still two years away, the political space in Ogun State is already getting congested. With none of the politicians ready to be left behind or play second fiddle in the rat race, the various groups and movements have started oiling their political machinery, dotting their I’s and crossing their T’s for the race to the Oke Mosan Government House. In every contest, there are contenders and pretenders, and Ogun 2019 is not an exception. Already, no fewer than eight aspirants from the zone are reported to be interested.

Suraj Adekunbi The speaker of the Ogun State House of Assembly is one of the early birds already out from the zone and his supporters believe he is the only aspirant from Ogun West that looks good to succeed Amosun. Adekunbi, a seemingly refined politician who is cool, calm and collected in his approach, has been a ‘loyal’ partner to the incumbent governor, hence the seamless relationship between both arms of government. But whether the governance dalliance between the duo will translate to political relationship is another kettle of fish. Although he has not officially declared his intention, it is believed in some quarters that he is on the consideration of the APC-led government in the state as a potential successor of Amosun. To rev up his exposure and credentials, he was reported to have recently attended a course in Harvard University, United States. The issue with him might be whether he will be able to co-opt other structures because his attachment to the governor is seen in some quarters as too close for comfort and as such might be subservient to him.

Gboyega Isiaka Isiaka has a brilliant and pleasant personality which has earned him measures of goodwill in the state. If analytical skills and experience are the determinants for governorship race, GNI, as Gboyega Isiaka is usually called, fits the bill. He has a strong grasp of attendant issues affecting Ogun State especially when it comes to the realisation of the economic potential of the Gateway State. His first two forays as governorship candidates of Peoples Party of Nigeria (PPN) and the Peoples Democratic Party (PDP) in 2011 and 2015 respectively wasn’t a sweet experience for the First Class graduate of the Obafemi Awolowo University (OAU). On both occasions, he was carried on the back by two different power brokers, Gbenga Daniel in 2011 and Senator Buruji Kashamu in 2015. Interestingly, after losing to the incumbent in 2015, he appears to have detached himself from the apron of any godfather and nurturing his political structure across the 20 local governments in the state. He recently launched his ‘Believe Movement’ which is aimed at re-oiling his political machinery. The challenge for him as 2019 approaches is what platform to launch his campaign. He is tipped to join the APC.

Senator Solomon Adeola Ordinarily, the political antecedent of Senator Adeola should have conferred the plum job on him without much eyebrow but the many intrigues involve in politics

Amosun

won’t allow that. Popularly called Yayi, the Senator is presently representing Lagos West senatorial district. Currently, it appears he is the issue in the governorship race two years to the real election. Having failed in his bid to pick the APC senatorial ticket for Ogun West in 2015, he is back to fight for the APC governorship ticket and expectedly, legion of opposition are on his path. Interestingly, there are serious contentions on whether he is from Ogun West or not, but the popular politician appears unfazed by such insinuations. Clearly, he is one of the subject matter in the fight for the APC ticket because he is popular and has a strong financial war chest. But the big question, regardless of his aloft stature is whether he will be able to get the ticket of the APC especially with the no love lost relationship with the incumbent governor.

Hon. Abiodun Akinlade:

Akinlade is a son of the soil and his name in the political equation of Ogun State cannot be undermined. His popularity has been tested and he came out in flying colours. He has contested the Federal House of Representatives ticket on the platform of the two leading political parties in the state; the PDP and APC, and he won. Regarded as a politician who represents new realities and possibilities for Ogun West especially during his 12 years in the Green Chamber, Akinlade, had close shave with governorship ticket in 2011 and 2015. Owing to his commitment to the politics of reconciliation and reasons, he gave up his aspirations on the two occasions for tranquility to prevail. His area of strength include grassroots popularity that has enabled him to empower thousands of people in his zone and beyond. Celebrating his 50th birthday recently, the Owode-Yewa born politician, who has the mastery of the workings of the National Assembly, declared his inten-

tions to vie for the state governorship seat. His recent defection to the APC alongside his supporters across the state has changed the equation in the party and the zone. His virile political structure across the zone and the state is perhaps giving other aspirants sleepness nights. His Achilles heels is the fact that he is a new entrant into the party and there are many things to fight for. However, if anyone can move this needle for Ogun West, Abiodun Akinlade can, but whether he will be third time lucky is what is left to be seen.

Tolu Odebiyi He is the current Chief of Staff to Governor Amosun and he is said to be on the list for consideration as governor. He is articulate and passionate about the youths of the state. Coming from a popular family, Tolu is the son of the late politician, Senator Jonathan Odebiyi. But that is not all about him as he is a successful technocrat who has strong profile in property development and investment. While some political analysts in the state believe that the governor was only using him to test the waters ahead of the race, others believe that Amosun and some other stakeholders may eventually settle for him. Regardless of the divides, his weakness is his perceived absence at the grassroots level. Personalities bandied around in the race include Senator Gbolahan Lawal; former Commissioner of Forestry, Mr. Ayo Olubori; the lawmaker representing Yewa South/ Ipokia Federal Constituency, Hon. Kunle Akinlade (Tripple A); the chairman of Local Government Service Commission, Rotimi Rahmon (Arugbo); Commissioner for Forestry, Kola Lawal (KLM) and among others. Clearly, there are host of sensitive, challenging areas in the course of breaking the 41-year- old jinx, but like it is said in politics, the road is always tortuous but not impassable.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

CICERO/ REPORT

The Power Revolution in Akwa Ibom One legacy that the Akwa Ibom State Governor, Mr. Udom Emmanuel, would be remembered for is the provision of constant electricity supply in the state, writes Okon Bassey

ince coming on board over two years ago, the Udom Emmanuel administration has embarked on massive rehabilitation of power infrastructure in the state, the result of which has been a silent power revolution of sort. Before now, like what still obtains in some other states of the federation, the issue of epileptic power supply was a part of the people’s way of life. But now in Akwa Ibom State, people enjoy 18 to 20 hours of electricity supply daily through the efforts of the governor and his team. When rural electrification did a study of all the villages in the state, it discovered that Akwa Ibom had about 2240 gazetted villages besides autonomous communities that have come up as villages. Up to 85-90 per cent of the villages have now been connected to the national grid. Recently, the state government commissioned a 33 by 11KV, 2X15 MVA electricity injection sub-station in Uyo, the state capital, a major boost to the governor’s vision to industrialise the state. “I said our duty will be to industrialise. And, you cannot talk about industrialisation if you don’t give power to the people. You must create an enabling environment,” Emmanuel had said at the inauguration of the project. His focus on steady power supply in the state is not limited to the state capital, Uyo, as some communities in the state that had not seen electricity poles before like Nkari clan in Ini LGA have now been connected to the national grid. The governor has also restored power to Okobo LGA, where there was no light for several years, while efforts have reached top gear to reconnect Ikot Abasi. With the newly commissioned facility in Uyo, some sections of the capital city such as Ewet Housing, Shelter Afrique, NwangaIba and Osongoma Estates now enjoy 20 hours of electricity daily while plans have reached advance stage for the commissioning of the second sub-station to be located at Ekim in Mkpat Enin Local Government. The new station is expected to service five local government areas along that axis, including Ikot Abasi already earmarked as one of the three industrial hubs by the governor. “We are working seriously on that, and with the support of the board of Ibom Power Company, we can commission that project as part of our state’s 30th anniversary so that those five local government areas can enjoy uninterrupted power supply,” the governor further said. He explained that the success recorded in the development of power infrastructure in the state was part of his blueprint to develop the sector, in line with his campaign promises. “When I was campaigning, I said these things are not rocket science; it takes dedication and sincerity of purpose to get these things done”. Beside the Ekim sub-station, another injection sub-stations is being planned for local government areas along the Oron LGA axis of the state. The Chairman, Board of Ibom Power Company (IPC), Etido Inyang, said the vision of the governor for the people of the state has a foundation in industrialisation. “If you look at the governor’s five-point agenda, you will definitely agree with me that the bedrock of his administration cannot be actualised without adequate power. My vision in the board therefore is to drive the vision of His Excellency, which is to industrialise the state and that brings us to driving the power sector.” Inyang said the huge investments by Governor Emmanuel in the power sector was already paying off and that in the next few weeks, his team would commence test-running 24 hours of steady power supply to some select parts of the state capital. Presently, the Ibom power plant solely owned by the state government has installed

Former Governor Akpabio (middle) and Governor Emmanuel inaugurating a power project capacity to generate 191MW of power with 153MW currently being generated while the government is also working towards starting another turbine. “By the first quarter of next year, we will fully run the 191MW,” he said, adding that the state government had already received a licence to generate 685MW of power from the Ibom Power Company and that his board was working assiduously to kick-start the second phase of the power plant, which hopefully would be completed within the lifespan of the current board. So far, he said, they had received presentations from an array of investors, who have displayed needed competences to manage the project. Going by what is happening in the power sector of the state, including the provision of infrastructure such as transformers and building of injection sub-stations, it appears the state government has taken up large portion of work which the PHEDC is supposed to be doing. “It takes a vision for the governor at this period of recession to build an injector sub-station never done by any state governor of the federation. This is the first of its kind”, he noted Inyang is equally of the opinion that the effect of the steady electricity supply in the state will soon be felt as investors will start relocating from other states to establish their businesses in Akwa Ibom, because of steady power. This, he says, will translate not only to revenue for the government but employment generation for the people at large. He, however, advised electricity consumers in the state to desist from seeing provision of power as a social responsibility by the government. “It is very clear to all Nigerians that both the federal and state governments cannot survive giving power as social services for now. People have to pay. If you don’t pay, the Discos cannot have money to pay for the gas and maintenance. All the spare parts in any

turbine are imported. I believe in government subsidising not giving power for free”, he said. He highlighted some of the challenges facing the power sector in the state, saying the Transmission Company of Nigeria (TCN) is not coming forth with modality for payment of the electricity, which the state government helps them in evacuation. Again, the PHEDC was not standing up to its responsibility by fixing fallen cables and poles. More so, was the problem of vandalism of power infrastructure which he said could bring project down from hero to zero. He stressed the need for the federal government to devise a means to curb the level of theft and corruption, which he described as very high in the power sector. Still speaking on the power situation in the state, the Special Assistant to the Governor on Power and Managing Director of Ibom Power Company, Meyen Etukudo said since he assumed office in 2015, more than 200 (300kva) transformers had been distributed to various communities to boost power supply. “Now, people are calling to commend us for the steady supply of light in the state. According to Etukudo, not only has the power supply situation improved dramatically, the quality of the power has also improved tremendously that if consumers check, they can safely say that they are enjoying full current. Also acknowledging the efforts of the government in the power sector, the Managing Director of Port Harcourt Electricity Distribution Company (PHEDC), Mr. Matthew Edevbie said the state deserved uninterrupted power supply with the current facilities already on the ground. He posited that constant power supply in the state was possible with the huge investments and support of the state governor to the PHEDC in power generation and distribution in the state, pointing out that the state had the most robust power system in the country. According to him, the metering factory to be

commissioned in Onna LGA of the state has the capacity of producing 600,000 meters per annum while consumers in the state require only 130,000 meters. “Akwa Ibom actually has a 132KV range. A 132 KV line runs from Ikot Abasi to Eket, another from Ikot Abasi to Ekparakwa and from Ekparakwa to Ikot Ekpene, from Ikot Ekpene to Itam and from Itam to Uyo. It is the only state in this country that has a 132KV range. Edevbie stated that by the time all the investments in power by Emmanuel are completed, there would be power for all in Akwa Ibom. He noted further that if every electricity consumer in the state were to own a meter and the Ibom Power company localised, every home in the state would have 24/7 power supply. “We are proud to associate with Akwa Ibom, because we are going to use Akwa Ibom to prove that 24/7 power can be a reality and an easy thing to accomplish”, Edevbie said. Steady electricity power supply especially in Uyo, the state capital and environs has attracted the attention of some residents, who described it as a welcome development and dividends of democracy. Even such commendations have been received from some unusual quarters as the Publicity Secretary of All Progressives Congress (APC) in the state, Edet Eyo Bassey recently on a public radio applauded the governor for the feat. He specifically said the Governor deserved kudos for saving him and thousands of others the burden of buying fuel every day for their generators. “Governor Udom Emmanuel has done very well in terms of electricity supply in Akwa Ibom State in the last few months. Power supply has really improved at least from the three hours that was the case before, to about 15 to 18 hours per day now. I thank him for doing that, because I no longer have to buy fuel to run the generator”, Bassey said.

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

PERSPECTIVE

Furniture makers in a workshop...SMEs such are this are targets of DBN loans

As DBN Begins Lending to Businesses…

Ø ÞÒÓÝ ÜÏÚÙÜÞ˜ Wole Ajayi examines the unique features of Development Bank of Nigeria as it ÌÏÑÓØÝ ÖÏØÎÓØÑ ÞÙ ÌßÝÓØÏÝÝÏÝ ÓØ ÏÚÞÏ×ÌÏÜ

he Development Bank of Nigeria (DBN) holds great promise for the growth and expansion of small businesses in the country and the economy. Set to start lending in September on the back of a $1.3billion startup fund from initial investors, its business model to facilitate new and longer tenured bank loans to entrepreneurs makes its intervention unique, historic and unprecedented. For Nigerians, especially the youth, who have bankable business ideas and are looking for affordable and long term finance to get started, the DBN as designed provides a good basis for optimism. For entrepreneurs who have gone through the horrors of raising finance from banks at cut throat interest rates to be paid back within a year or two, it may just be time to heave a sigh of relief due to the long term funding from DBN. Against the backdrop of several government backed development initiatives that have failed to deliver on their mandates, it is understandable to be cautiously optimistic about the impact that DBN is set to have. Yet, there is a lot of practical evidence to establish that the DBN story would not be like those before it. In its formation, design and implementation framework there are pointers providing assurance that it is indeed different and unique. In specific terms, the DBN has four key features which set it apart from other development finance institutions in the country. The first is its operational structure. Although the DBN was initiated, promoted and set up by government as co-owner, the institution was fundamentally designed to function and operate its business activities as a private sector led and independently run financial institution.

The wisdom in taking this course of action is obvious: to limit the chances of government intervention in its operations. It was drawn from bitter lessons learnt from earlier interventions which have performed sub optimally due to unrestrained interference by previous governments. This goes beyond the general principle of non-interference. The DBN also has well-built institutional operational guidelines to prevent and check likely instances of such. In fact, the continued involvement of key international development financial institutions, such as the World Bank, African Development Bank (AfDB), European Investment Bank, and KfW of Germany and AFD of France as initial investors that have committed a substantial part of the initial $1.3billion for its take-off, depends on the strict adherence to this principle by the government. The board of the DBN is also structured to ensure that the government has limited influence over its operations. The government has only one member who is chairman of the Board, from a nine member board that exercises oversight and supervisory role over its activities. The other board members are drawn from the private sector. This may explain why the Minister of Finance, Mrs. Kemi Adeosun, in April after presenting the pioneer Managing Director of the DBN, Mr. Tony Okpanachi, a consummate banker with over 25 years’ experience and other management staff openly stated that there will not be any political interference and that the bank will be insulated from government control. In her words: “I want to say something about what makes DBN different. It is going to be devoid of political interference. It is not going to be influenced by politics. It is going to be run by private sector best practice. We have learnt lessons from the past. What ruined the ones in the past was

DBN as structured will offer unrivalled tenors for loans to small businesses. For the first time in the history of the country’s financial system, small business owners would be able to access loans with an expanded tenor of up to ten years. In addition, they will also enjoy moratorium of about 18 months

political interference- “lend to my local government; lend to my friend; lend to my family”. So, there is nothing like that. The multilaterals have done it elsewhere and they are bringing the model here. With the multilaterals and private sector players on the board, we have a board that we (government) can’t control.” The second key differentiating feature of DBN is that it will operate as a self-sufficient, self-financing financial institution that is totally non-reliant on government subsidies or subventions. The bank has the power and latitude to source for funds to run its operations from local and international development agencies. It can also leverage existing structures of the financial sector without relying on the government. The operational framework of the DBN is another major distinguishing factor that makes it unique. It is designed to function primarily as a wholesale development finance bank. It will therefore interface only with existing commercial banks, Micro Finance banks, development financial institutions and other financial institutions to fund development projects and businesses that will stimulate growth in the economy. It will not deal directly with individual businesses or private persons. The DBN is also the only development finance institution with a strong focus on MSMEs. Of the five existing DFIs in Nigeria, only the Bank of Industry and Agriculture focus on Agriculture and MSME sectors. But even these two have only struggled to address the shortfall in MSME lending largely due to inadequate governance structure and perennial reliance on capital injection from government to sustain their operations. DBN’s focus on this segment of the economy is very telling. It is a sector that even in its nonoptimal state basically functions as the backbone of the Nigerian economy. According to the National Bureau of Statistics (NBS) there are about 31 million of these businesses which contribute over 45% of our GDP and employ about 66% of our adult population. The sad thing is that the growth of this key sector and its ability to create jobs, strengthen the national economy have been greatly hampered by lack of proper access to finance. Currently, the financing needs for this critical segment of our economy stands at $119 billion with only less than 3% met by the formal financial sector. This is because MSMEs typically have low capitalization, limited assets, poor credit/governance culture and inadequate financial management, resulting in financial institutions perceiving small businesses

as high-risk customers and have therefore been consistently reluctant to advance credit to them. One of the key benefits of the DBN in practical terms is that it will revolutionize lending by helping MSMEs have access to finance. DBN working with Participating Financial Institutions will lower the risk of the MSME segment and the resulting interest rates will greatly help small business owners to increase their profit margins, have more money set aside to expand their businesses and improve their standard of living. Furthermore, the DBN as structured will offer unrivalled tenors for loans to small businesses. For the first time in the history of the country’s financial system, small business owners would be able to access loans with an expanded tenor of up to ten years. In addition, they will also enjoy moratorium of about 18 months. This is a historic development in the Nigerian financial landscape with massive benefits for the business environment. The coming on stream of DBN powered by reputable finance institutions like the World Bank, the European Bank and the African Development Bank is therefore significant because the lack of access to finance has stunted the growth of small businesses and overall economic growth in Nigeria. With enhanced access to finance for small businesses they will be empowered to expand their operations and contribute significantly to the country’s GDP. Small and medium enterprises (SMEs) cannot grow without reliable long-term sources of finance and affordable interest rates. In conclusion, DBN will be a good addition to the efforts of the government to diversify the economy by igniting a critical sector of the economy. As the small businesses grow, so will they continue to generate employment for the teeming Nigerian youths. The success of these businesses will encourage other Nigerians to start up their own ventures so that they can access the required financing to grow their businesses under convenient payment terms. No doubt the success of DBN will contribute to significant reduction in unemployment and reduce reliance of the economy on oil exports. The DBN is indeed a smart program whose time has come. By creating a private sector institution funded by international development finance institutions, the government has been able to creatively overcome the structural and systemic inadequacies of existing development banks and secured sustainable large financing inflows for energizing MSME growth in Nigeria. – Wole P. Ajayi is a public analyst based in Lagos.

AUGUST 27, 2017 ˾THISDAY, THE SUNDAY NEWSPAPER

PERSPECTIVE

Nigeria’s Refineries: When 2019 Comes Bisi Daniels

Secretary, National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN), Issa Aremu, admitted that the bold initiative by the Dangote Group is a giant stride at re-industrialising Nigeria in particular and Africa in general. Happily for Labour, the refinery will employ many people. It will also provide opportunities to local vendors. During the week, the Nigerian Content Development and Monitoring Board announced that the management of Dangote petroleum refinery had agreed to select competent Nigerian vendors that will participate in the construction of the plant. The Chief Operating Officer, Dangote Refinery Project, Mr. Giuseppe Surace, stated this at the technical meeting held between top officials of the company and NCDMB at the refinery project site in Lekki. On the socio-economic scale, the refinery is bound to transform life in that part of Lagos into a cosmopolitan, upscale area with jobs and improved living standards. In anticipation of that, private property investors have already shifted attention there.

hen 2019 comes, the stone that the leaders (builders) rejected shall be the head cornerstone. When 2019 comes, the cost of economic mistakes often made out of sentiments and ignorance will stare many Nigerians in the face. Although sentiments also sometimes rob people off the sense of quilt, many will remember how much the country bled during seasons of subsidizing importation of petroleum products to ensure stability and affordability, while the refineries remained epileptic. In 2019, the Nigerian National Petroleum Corporation, currently bearing the burden of importing much of the petroleum products, will be relieved to focus on its core business. Even in faraway United States, former presidential aspirant Hillary Clinton will nod over the briefing on Nigeria. As US Secretary of State in 2009, she had said that the continuous importation of refined petroleum products by Nigeria was a sign of bad leadership. “Nigeria is the 6th largest producer of crude oil but the country still imports fuel,” Clinton said during a seven-nation tour of Africa. When 2019 comes, Minister of State for Petroleum Resources Dr. Ibe Kachikwu, a strong believer in the power of the private sector for economic growth and transformation, will heave a heavy sigh of relief over the removal of an ugly national stigma, and rejoice over a promise delivered. His repeated assurance of the cessation of petroleum products importation in 2019 is largely based on one key variable in the sprawling sands of the Ibeju-Lekki area of Lagos. “I have made very firm commitment to Nigerians that I must stop the importation of petroleum products by 2019 and I am going to keep it,” he said during a visit to the site of the Dangote refinery recently. So he told the President of the Dangote Group Aliko Dangote, “The challenge I will give you today is that of time; I see your time for completion is December 2019, but I am sure you will understand my greed if I tell you that the refinery component should come earlier than the set date.” In the bigger picture, Kachikwu was not speaking out of personal greed. It does not make any economic or even crude political sense for a major crude oil producer and exporter to import petroleum products with relish as was done in recent years.

The Rejection The year 2019 is therefore a very important date for Nigeria’s oil and gas sector! Only 10 years ago, in 2007, Dangote led a consortium of investors to pay $750m for two of the nation’s four ailing refineries, which the Federal Government was finding it difficult to manage. But the Yar’ Adua administration reversed the decision soon after it came in to score political points. “I went to him (Yar’ Adua) and asked why he did that. But he said it was because of pressure,” former President Olusegun Obasanjo, whose government sold the refineries said recently. These same sentiments have driven opposition against private-sector involvement in modernizing the refineries despite copious evidence that the many turn-around maintenance efforts in the past did not add much value, even if there were resources to do one now. Today, the same Aliko Dangote is the man on whose shoulders the expectations of 2019 rest. However, he assured Kachikwu he has accepted the challenge and would do all possible to achieve the feat. He said: “On the honourable minister’s

Challenges

Dangote challenge, we are going to make it by the grace of God. I am sure the minister will support us to make sure that we meet his challenge.” Dangote told Bloomberg later that although the project recently went “a little off track” because of the 70 million cubic meters of sand required, it is back on course. “I don’t have any worries about finishing.” He added: “This is my lifetime project. I have to back it up with my own life to make sure it is delivered.” Over the years, attempts have been made by government to encourage private sector investment in refineries, but they have largely failed. Out of the 33 private refineries that were given Licence to Establish (LTE), only the 1,000-barrels-per-day refinery operated by the Niger Delta Petroleum Resources in Ogbelle, Rivers State has come on stream to produce diesel. Most of the other investors have not even kicked off construction work because of the funding problems.

The Head of the Cornerstone Driven by the commitment to the socio-economic development of the country and a huge appetite for local direct investment, Dangote has long put 2007 behind him. “Nigeria’s refineries were privatised in 2007. We bought two, but after a few months we had a new government that decided to void the transaction, thinking we got a very good deal. So since 2007 we’ve been actually working on building our own refinery, but we didn’t finally start something until 2015.”

The Deliverables It is the world’s largest single line refinery, petrochemical complex, and the world’s second largest urea fertiliser plant. The refinery, according to Dangote, will have the capacity to refine 650,000 barrels of crude oil per day. The petrochemical plant will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene, while the fertiliser project will produce 3.0 million metric tons per annum (mmtpa)

of urea. “In addition, we are also building the largest sub-sea pipeline infrastructure in any country in the world, with a length of 1,100 km, to handle 3 billion SCF of gas per day. We also plan to construct a 570 MW power plant in this complex. As a matter of fact, gas from our gas pipeline will augment the natural domestic gas supply and we estimate an additional 12,000MW of power generation can be added to the grid with the additional gas from our system.”

The Beneﬁts According to Dangote, “We will be adding value to our economy as all these projects will be creating about 4,000 direct and 145,000 indirect jobs. We will also save over $7.5 billion for Nigeria annually, through import substitution and generate an additional $5.5 billion per annum through exports of the refined petroleum products, fertilizer and petrochemicals. “We envisage that these projects, which would cost over $18 billion, would be completed in 2019.” The petrochemical is 13 times that of Eleme petrochemical. It is 10 times that of NAFCON and therefore, the largest fertilizer plant in Africa”, he added. Expectant of the refinery, the Federal Government is also counting the benefits. During a visit of Vice President Yemi Osinbajo and some ministers to the site, he said that when 2019 comes, the nation’s refining capacity would be sufficient for the domestic market and export at the completion of the Dangote refinery project. He was optimistic that the project would also boost gas supply to power plants through the three billion standard cubic feet per day gas pipeline, and that the facility would buoy export earnings after meeting the nation’s current requirement of two billion scfpd. The plant, according to him, will generate over 100,000 employment opportunities. Even Labour unions that objected to the sale of the refineries in 2007 will join in the celebration when 2019 comes. Speaking on the project, the General

Like every other business, the Dangote refinery project faces challenges, some because of its sheer size, but so far he has been able to take them on as they come. For example he explained that, “For the refinery, almost every single item was imported. One of the difficulties was that most of our ports are not designed to receive heavy equipment; 75 percent of the cargo needed for the refinery cannot be offloaded in the port of Lagos. One piece of equipment weighs 2,870 tons! So we had to build our own jetty, about one kilometre in the ocean, which was a major project. We couldn’t get local cranes to hire, either. We had to go and buy 300 cranes. Then there’s manpower, which we also brought from abroad—almost 30,000 people, because we didn’t have a trained workforce for these massive projects..” On the initial allegations of conflict with the host community, he said there are no issues because the conflict was between two communities and the state government. He explained: “We did not buy the land from communities, we bought our land (swamp) at $100m and the filling of the swamp to become solid land is costing us another $420m. There are funding issues too: He said the holding company, Dangote Industries Limited, which is different from Dangote Refinery, took an initial loan for the project that has accrued an interest of $173m, stressing that, contrary to speculations, the company has not gotten substantial forex from the Central Bank of Nigeria. Rather, he said “We lost almost N50bn to the new forex regime.”

When 2019 Comes This is likely to be the scenario of nation’s refining capacity in 2019. The Dangote refinery, 650,000 barrels per day (bpd); Federal Government refineries, 445,000 bpd (and it is expected that they will operate at full capacity); Eko Petrochem and Refining Company Limited, 20,000 bpd (all things being equal); modular refineries in the Niger Delta (if they can materialize by then). The good news is that the Dangote refinery alone may be able to supply 95 per cent of local daily consumption. So, when 2019 comes Nigeria is likely to be an exporter of petroleum products. Indeed, when 2019 comes, the thick cloud of national shame will be lifted. And economic reality will crush the old Jericho walls of politics and sentiments in the oil and gas industry that perpetuate a circle of poverty! At least, there will be large template to learn from and use. - Daniels is an author, writer and journalist

THISDAY, THE SATURDAY NEWSPAPER ˾ AUGUS Ͱ͵˜Ͱͮͯ͵

IMAGES

lass of 1985 Nigerian Law School 2017 annual reunion luncheon and awards ceremony was held at the Four Points by Sheraton, Lekki Peninsula, Victoria Island, Lagos recently. Here are some of the class members at the the ceremony. PHOTO: Etop Ukutt

Mr. Patrick Mbu with wife, May

Chairman of the 1985 Nigerian Law School Chief Emeka Ngige (SAN)

Marntin Agoziem Akpaka with wife, Evelyn

L-R: Saratu Shafii and Hajiya Hajara Usman

L-R: Justice Abba Bello Mohammed and Hajia Hadizau Uwani Mustapha

R-L: James Ikeyi (SAN)with wife, Pauline Adachukwu

L-R: Mia Essien (SAN) and Ayodele Akintunde (SAN)

Justice Lateef Babajide Akapo with wife, Rolake

THISDAY, THE SATURDAY NEWSPAPER ˾ AUGUS Ͱ͵˜Ͱͮͯ͵

IMAGES

L-R: Mr. Cyrill Maduabum and Justice Godwin Abraham

L-R: Adewunmi Ogunsanya, Bolaji Ontienla and Seyi Akinwunmi

L-R: Folashade Alli, Andrew Obinna Onyeam and Syvester Elema

L-R: Dele Olaniyan and Prof. Wahab Egbewole

L-R: Uwala Murphy Akpieyi and Chux Igbinedion

L-R: Chief Chukwuma Ekamara (SAN), Chief Adekunle Olaiya and Former I G of Police, Sunday Ehindero

L-R; Imonah Micheal Egbodion and Sanni Lazarus Sule

L-R: Akin Adepoju and Mathew Egbdion

L-R:Chief Otokhina Ebo Andrew, Dr. Taiwo Ajala and Andrew Adeosun

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ AUGUST 27, 2017

SUNDAYSPORTS

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

Coutinho out, Sanchez Back as Liverpool Host Arsenal

hilippe Coutinho remains sidelined for Liverpool when they host Arsenal today at Anfield. The Brazil international has been the subject of continued transfer speculation this summer and is yet to play this season due to injury. In his absence, Liverpool have taken four points from their two league games and qualified for the group stages of the Champions League with a 6-3 aggregate win over Hoffenheim. The Reds boasted the best record against the top six sides in the Premier League last season, winning five and drawing five of their 10 matches, and Jurgen Klopp is keen to build on that. “Last year we had an outstandingly good record against the top six, but we didn’t take any points from the rest of the league,” he said. “So we thought it makes sense to do the one thing again and get a few more points from all the other games. But it’s still difficult, it was always difficult and will stay difficult. “Arsenal are still an outstandingly strong side...But I think we can all still remember the atmosphere of Wednesday night and that’s what we want to have again, even though it will be Sunday afternoon. It’s what we want to have again.” Roberto Firmino scored for Liverpool against Arsenal last season While Coutinho misses out for the hosts, Alexis Sanchez could make his first appearance of the season for Arsenal. Like Coutinho, there has been Arsene Wenger says he looks “absois sometimes difficult to stop him but plenty of speculation over Sanchez’s lutely ready” to play. he looks absolutely ready. He has not future this summer, and he has also “He works very hard, focused and played for a long time so I will have to missed the opening two Premier League gives absolutely everything,” he decide what I do with him but he looks matches with injury. But Arsenal boss added. “He loves to play so much that ready to play.”

While Coutinho misses out, Klopp is hopeful Emre Can and Trent AlexanderArnold will be available after sustaining minor issues against Hoffenheim. Georginio Wijnaldum returned home to the Netherlands for the birth of his third child in midweek but is in line to play today. Sanchez is set to return for Arsenal, as is defender Laurent Koscielny, who returns from a three-match ban. Wenger has a largely-fit squad to choose from, although long-term absentee Santi Cazorla (ankle) is still sidelined. Liverpool won both of their Premier League meetings with Arsenal in 2016-17 - they haven’t won three in a row versus the Gunners since May 1998 (four in a row). Games between these two clubs in the Premier League have produced 17 goals in the 90th minute or later; more than any other fixture. Arsenal won the fewest points in matches between the top six sides in 2016-17 (9) and lost half of their 10 matches against fellow top six opposition while Liverpool won 20 points from 10 Premier League matches against the rest of the top six in 2016-17; more than any other side. These two sides have attempted the most shots on target in the opening two matchdays of the 2017-18 Premier League season - Liverpool (18) & Arsenal (16). Sadio Mane has had a hand in five goals in his five previous Premier League starts against Arsenal (three goals, two assists).

Chelsea Welcome Big-spending Everton to London

verton face their second tricky away day in just under a week when they travel to Chelsea today in the Premier League. Ronald Koeman’s team grabbed a 1-1 draw at Manchester City on Monday Night Football while the reigning champions picked up a dramatic and morale-boosting 2-1 victory at Tottenham. That three-point haul came after an opening-day reverse at home to Burnley. Chelsea have not lost consecutive home Premier League games since November 2011 when they were managed by Andre Villas-Boas. Chelsea won both games against the Toffees last seasonbyacombined8-0scoreline,includingwinning 5-0 at Stamford Bridge in November. Chelsea midfielder Cesc Fabregas returns from suspension. But defender Gary Cahill is still banned following his red card against Burnley on the opening day of the season. Everton have doubts over both Idrissa Gueye and Sandro Ramirez and will be without Davy Klaassen for their trip to Chelsea. Gueye missed Thursday’s win over Hajduk Split as a precaution with a hamstring problem, while

neither striker Sandro (heel) nor midfielder Klaassen (foot) played either, the latter having already been ruled out of a return at Stamford Bridge. Boss Ronald Koeman’s midfield options are limited asMorganSchneiderlinissuspended,withtheFrance midfielder joining James McCarthy, Ramiro Funes Mori, Yannick Bolasie (all knee), Seamus Coleman (broken leg) and Ross Barkley (hamstring) on the sidelines. Chelsea have won seven of their last 10 Premier League meetings with Everton, including both in 2016-17 (W7 D1 L2). Chelsea are unbeaten in their last 22 home Premier League games against Everton since a 1-0 loss in November 1994 (W12 D10). Only against Tottenham (25) are they on a longer unbeaten Premier League run at Stamford Bridge. Indeed, this Everton run of 22 games without a victory at Chelsea is their longest away winless run at another club in the Premier League. Only against Leeds (36 games between 1953-2001) have they had a longer away run without a win in league history. Wayne Rooney will be looking to score in three successive Premier League appearances for the first time since January 2016.

Alonso celebrating after netting the winner at Wembley

Hamilton Equals Schumacher’s All-time Pole Record

ewisHamiltonequalledMichaelSchumacher’s all-time record of 68 Formula 1 pole positions at the Belgian Grand Prix. The Mercedes driver did a sensational lap to beat title rival Sebastian Vettel of Ferrari, who was on top form himself, by 0.242 seconds. Hamilton was 0.541secs ahead of teammate Valtteri Bottas, who was third ahead of Kimi Raikkonen’s Ferrari. The key to Hamilton’s pole was arguably a stupendous effort through the middle sector of the lap at the demanding Spa-Francorchamps track in the Ardennes mountains. The Ferrari had been quicker than the Mercedes through sector two throughout the weekend but Hamilton pulled something out

of the bag on his final run to set the pace there by 0.2secs. Afterwards, F1 sporting boss Ross Brawn delivered a message from Schumacher’s family. Brawn said: “His wife Corinna said that Michael always believed records were there to be broken, and they want to offer their congratulations.” Schumacher has not been seen in public since the skiing accident in 2013 that left him with severe head injuries and in a coma for some months. His family have consistently said his recovery will be long and hard and have given no other news of his condition. “It’s a special day,” said Hamilton. “I knew it was on the horizon and knew I’d get the 68th pole, but I haven’t thought about it much.

“But now being there it is an unusual place to be. I remember coming here in 1996, my first grand prix, and watching Michael come by and the engine vibrated my rib cage and that was when my love for the sport took another step. “And I have now equalled him on poles and it is very surreal. It is a humbling experience knowing Michael is such a legend. It is an incredible feat he achieved and I am very proud to be up there with him. “To hear the message Ross just gave, I have to say a big thank you. I followed Michael and raced against him and always admired him. My prayers are for him and the family and he will always be one of the greatest of all time.”

PREMIER LEAGUE RESULTS & FIXTURES Bournemouth Crystal Palace Huddersfield Newcastle Watford Man United Chelsea West Brom Liverpool Tottenham

1–2 0–2 0–0 3–0 0–0 2–0 vs vs vs vs

Man City Swansea City Southampton West Ham Brighton Leicester Everton 1:30pm Stoke 1:30pm Arsenal 4pm Burnley 4pm

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High Life

ÍŽÍśÍŽÍľÍ´ÍśÍśÍłÍľÍłÍ°

...Amazing lifestyles of Nigeriaâ€™s rich and famous

From Paris with Love...As Zahra and Ahmed Indimi Tour Europe

here is no doubt that even before they got married in a lavish ceremony last December, winsome Zahra Buhari and wealthy Ahmed Indimi had caught the love bug. The new couple continue to serenade themselves across the world. It didnâ€™t come as much surprise therefore when HIGHLIFE ran into the blithely in-love couple at the Pont des Arts otherwise known as the Lovelock Bridge, Paris. They were a picture of unadulterated love. Not minding the restrictions on the famous Pont des Arts, the beautiful couple still made a stop there to traditionally inscribe their names on a padlock, hook it to an available spot in the bridgeâ€™s wiremesh parapet, fasten the lock and throw the key in the river. And they kissed and hugged trusting that as it had been for millions of others that had visited there, their love was secured for life. Thereafter, they stopped by at the MacDonaldâ€™s on Avenue Des Champs Elysee for a bite and a drink. Unlike many of his peers in the billionaireâ€™s circle, Ahmed, the son of billionaire Mohammed Indimi, contradicts the principles and norms of egotripping. He never draws attention to how rich he is, neither does he function on the oxygen of his blooming renown as President Buhariâ€™s son-in-law.

ONE DEATHTOO MANY...AS BABANGIDA, YOUNGER BROTHER OF FORMER GOVERNOR DANBABA SUNTAI, DIES HOURS AFTER HIS BURIAL In and around Jigawa State, especially in the sleepy and serene town of Suntai in Bali Local Government Area of the state, the grief is profound, palpable and pervasive. It is understandable. Within the last two months, the town has lost its prominent son, Danbaba Suntai, a former governor of the state. Suntaiâ€™s death didnâ€™t really come as a shock to his kith and kin as he had been vegetative and bedridden since a

Danbaba Suntai

Zarah and her hubby on a boat cruise during their vacation

plane he piloted crashed in Yola, Adamawa State in October 2012. He died about five years after on June 28th in Orlando, Florida, United States while undergoing rehabilitation for brain injuries he sustained during the crash. The former governor was buried in his country home in Bali. Hardly had the pallbearers and mourners vacated the burial site than news of the death of his younger brother, Babangida, pierced the fragile peace of the community. Many wailed and wondered what cruel fate had befallen the illustrious family that had in no little way contributed to the uplift of the state in general. The younger Suntai who was very close to his brother and had held the fort for him since his unfortunate crash was regarded as the nexus that held both the biological and political families of Suntai together. Babangida died in Abuja few hours after his brother was committed to mother earth.

WHO WILL SAVE NUHU KWAJAFA FROM BACHELORHOOD? But for his humanitarian activities, Nuhu Kwajafa would have been labelled a menace to the society for being unmarried at over 40. After all, Brigham Young, a foremost American religious leader once said that a young man that is unmarried at twenty one is a menace to the community. Add to the

fact that Nuhu comes almost complete and as such has no reason not to have had his pick of any girl he so desires. The son of Fulani Kwajafa, a retired police commissioner and former boss of the National Drug Law Enforcement Agency, NDLEA, Nuhu is a six footer blessed with the physique of an athlete and the good looks of a movie star. He is a silver spoon and highly connected in the corridors of power. For the past decade however, Nuhu has dedicated his life to humanitarianism through his Global Initiative for Peace, Love & Care, GIPLC, which has been actively involved in humanitarian activities in Nigeria. The NGO, according to Nuhu, raised over $4m for children with critical medical conditions, saying, â€œWe have supported over 4000 orphans and vulnerable children through a â€˜back to schoolâ€™ program. GIPLC has also supported 35 orphanages with food, cloths, beverages etc, on a monthly basis for 10yrs now through its end of month food drive for the less privileged.â€? In 2014, GIPLC visited South Sudan in the middle of its civil war to support refugee children on the invitation of the countryâ€™s First Lady. Another remarkable charity initiative by GIPLC was the successful raising of $234,000 within 72hrs for the surgery of the first baby ever born on earth

without 50% of her skull and was operated on in the USA by the renown surgeon, Dr Ben Carson. It is a popular story that Nuhu once sold his only car to pay for the surgery of a dying baby. Despite all these activities, his physical attributes and access to wealth and power, Nuhu has yet to settle down. Many of his friends have taunted him on end about his single status despite being a hit among ladies, but he tells them that it would happen at the right time. What time would be right for the Borno State native? Who knows? Nuhu may truly be waiting for Godâ€™s time as some of his friends

Nuhu Kwajafa

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Former Governor Godswill Akpabioâ€™s Wife, Unoma, and Her Regular German Trips

f her recent close shave with death was natureâ€™s way of warning Unoma Akpabio, wife of the former governor of Akwa Ibom State and Senate Minority Leader, Godswill Akpabio, about the transience of life, she has seen the light. And the darkskinned beauty has further hearkened to her doctorâ€™s advice to slow down considerably with her social and other such physically demanding activities. That is why she is no longer a sight at society functions in Lagos, Abuja or Uyo where her very wealthy husband held sway as governor for eight uninterrupted years. Hardly does she even visit her native Enugu State. These days, the 46-year-old former Akwa Ibom ďŹ rst lady concentrates more on her kids and businesses while making regular visits to Germany where she was successfully operated on last year. It would be recalled that in the wake of widespread rumours that Unoma had passed on, her husband was forced to declare; â€œDuring the cause of my wife having our children, she had caesarean child deliveries. Well, what we didnâ€™t know was that for some reason, there was a devastating surgical error. In sewing back my wifeâ€™s womb, some surgeon sewed up her bowels to her skin. Not just in one place but in several places. My wife took ill. During investigation, doctors discovered this surgical blunder. We were all shocked, including the doctors.â€? The corrective operation was done last year successfully and Unoma is back on her feet but not to her former life of frenetic activities. argued in his defence at a social gathering recently; however, on another note, he may simply be living by another of Congreveâ€™s notable wisecracks which holds â€œCourtship to marriage, as a very witty prologue to a very dull play.â€?

BETTY AKEREDOLU KICKS OFF BREAST CANCER AWARENESS Ëž

Few women bear the crucible of pain and face down death in a no-holds-barred joust and live to tell their story. But Betty Akeredolu did and she emerged with her life intact. According

Betty Akeredolu

to her, the fight against cancer was a struggle she would never forget. But with unprecedented faith and towering resilience, she survived the deadly disease. Beyond the radiance of her visage and robustness of her bod, the healthiness and happiness, not many know that Betty, the wife of Governor Rotimi Akeredolu, of Ondo State, is a breast cancer survivor. She has been through the furnace of the debilitating illness and survived. She said, â€œI got to know of the disease at the age of 42 because of lack of awareness. I have been living healthy since then till now. Breast cancer is predominantly womanâ€™s disease, but there is nothing that affects women that does not affect men too.â€? While describing the fight against cancer as a struggle she would never forget, the Ondo State First Lady said it took a lot of faith and resilience for her to survive the battle. But she doesnâ€™t want other women to go through the excruciating experience of pain and hopelessness that trails the discovery. Hence, she has inaugurated the Breast Cancer Association of Nigeria with which she hopes to educate women about the deadly disease and support victims. According to her, Ondo State is already taking the lead to build a Cancer Treatment Centre.

LOVE FINALLY? FORBESâ€™ HIGHFLYING LADY, PEACE HYDE,

Unoma Akpabio

FALLS IN LOVE WITH NIGERIAN SILVERSPOON DUDE. As you read, Peace Hyde, the dark and lovely British Ghanian TV Personalty and Media Entrepreneur, is singing the song of the merry woman and pliant maiden. Yes, Peace is in love and the object of her affection is none other but a silver spoon kid who runs the family media company. Nobody knows where or how they got together but the lovebirds are currently painting the town red with their love. They look inseparable as they attend events together not too long ago. Apparently, the tall and fair-hued dude is also madly in love with Peace. Like a goal

Peace Hyde

bound fox-in-the-box, the young dude made dazzling runs into the TV galâ€™s penalty area and laced a volley that pirouetted into her heart as cupidâ€™s bow settles amid the ventricles of the enamored. According to Peace who opened all recently, â€œthere is nothing wrong with people getting married early providing they have taken the time to know each other and are making an informed decision based purely on love and mutual respect for one another instead of societal or peer pressure. That is what I am against. I believe I will get married when God deems it the right timeâ€™. The fair-skinned dude has perfected the art of stunning his conquests until they clamour for an encore. It is not surprising therefore, that he has added Peace to his list of conquests. However, like all conquests, Peace is desperate to retain the love of the selfstyled Adonis and ladiesâ€™ man. And he may have no other alternative but keep his love for her intact. That is because, unlike all his other conquests, she possesses the bragging rights to his affection. The lovebirds are always in each otherâ€™s arms, bucking and clawing like no manâ€™s business and without fuss shutting the world out of their piping hot affair. But pray, if all works out according to their plans, the weddings bells will chime in the lives of the duo next year.

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HIGHLIFE

Three Years After Daughterâ€™s Death, Former Speaker, Dimeji Bankole, Gets His Political Groove Back

o much has happened in the political and private life of former Speaker of the House of Representatives, the youthful Dimeji Bankole, since he left office in 2011. Elected in 2007 as Speaker at the age of 37, he has been unable to tie down any political office since he ran out his term and failed to win a re-election back to the House. As activities hot up for the 2015 general election, he was reportedly kicked out of the Ogun State chapter of the Peopleâ€™s Democratic Party, PDP, thus, ending his ambition to govern the state. This was in April 2014. A few months down the line, precisely October 2014, the Oxford and Harvard University alumna lost his daughter, Yewande, to sickle cell anaemia. It was a most traumatic period for Bankole who subsequently withdrew from social and political activities. For a young man with so much wealth and influence, his newfound freedom from the drudgery of public office was supposed to give rein to his love for

AFTER BANANA ISLAND MANSION, ABDULSAMAD RABIU COMPLETES MULTI-BILLION NAIRA HIGHRISE In a few months, the views around the area where Churchgate Building, located in the less boisterous part of Victoria Island Victoria Island, Lagos, promise to be a different kind of stunning and gaspinducing as the new 12-Storey multiplex office of the BUA Group nears completion. The all-glass edifice, with its commanding, baroque presence would occasion a lot of double takes while a cursory stroll into its bowels would leave so much to see and salivate about especially in the main hall with the proposed ceiling fresco.

Abdulsamad Rabiu

the good life. Alas, this was truncated before it bloomed to socialite level as Yewandeâ€™s devastating death turned Bankole into a social and political recluse of sort until now. Now, a pebble has been thrown into the political lake of Ogun State and unlike others, this particular pebbleâ€™s ripples are spreading far, fast and furiously. For the gladiators and also-rans jostling seriously or halfheartedly for the Ogun State PDP governorship ticket, there is urgent need to rethink strategy now that Bankole has thrown his hat in the ring. A formidable candidate no doubt, early last week, he subtly announced his ambition to slug it out with the other contenders for the partyâ€™s ticket in the run-up to the 2019 election. Not that he made any formal declaration; but branded buses of his electioneering were sighted around Abeokuta, the Ogun State capital, blaring out music and campaign songs eulogising the former Speaker who seems to have rediscovered his political groove, at least, for now. Owned by multi-billionaire Abdulsamad Rabiu, even at its barely completed stage, it is already competing for the finest and most equipped office in the street and beyond. Not surprisingly, it is being constructed by Cappa and Dâ€™Alberto, the giant construction firm that had been operating in Nigeria since 1932. The Forbesrated billionaire, reputed for his fine taste in all things of life that money can buy, is sparing no expense in constructing an office complex that can compete and compare favourably with any in its class across the globe. Sources say all the furnishings and fittings and equipments were imported from various shopping cities of the world like Paris, New York, London and Italy because the Kano-born businessman does not want to leave anything to chance. As the entire staff of BUA Group look forward to working from such magnificent office, so too do passers-by and neighbours who are beginning to wonder how the building would beautify and brighten up the street at all times of the day. Interestingly, work on the new office is moving at the same frenetic pace with Samadâ€™s new breathtaking mansion in the exclusive haven of the wealthy and powerful, Banana Island, Ikoyi, Lagos. He is set to move into the house in due course.

SILENT BILLIONAIRE, JEDDY AGBA, SHUNS CELEBRATION AS

Dimeji Bankole

HE TURNS 59 Ëž

Billionaire oil mogul, Jeddy Agba, decided to shun grandiose celebration and observe his 59th birthday in a low key fashion. Jeddy shunned merriment and pageantry with the modesty and unabashed sensitivity of nobility. The former NNPC topshot is certainly not cut out for celebrating birthdays. He would rather add value to peopleâ€™s lives and stay quiet in palatial mansion where he would commune with his Creator and show gratitude for sparing him for yet another lifetime. Although family and friends tried their best to throw soiree for the new year but that is not Mr. Chairman, as he is fondly called, for you. As he clocked 59, Agba remains unpretentiously modest and humble to all and sundry irrespective of status boundaries and divides. Rich like sin, Jeddy is the former Group General Manager of the Nigeria National Petroleum Corporation (NNPC). He was the head honcho of the Crude Oil Marketing Division. Agba is the first son of HRH Uti J.D. Agba, the paramount ruler of Obudu Area Council reputed to be the longest serving traditional ruler in Cross River State. Agbaâ€™s father has been on the throne for over 50 years and he is a three-time chairman of the State traditional council. He contested during the last guber election in Cross River, but lost. There is no doubt that

Agba is a big spender but his intimidating wealth and financial backing of his close friend and associate then, the Minister of Petroleum at that time, Diezani Alison-Madueke, was not enough to guarantee him a smooth ride into the government house of Cross River State. This must have dawned on him that Nigerian politics goes beyond the grandiose rhetoric of business. Agba cried blue murder. His supporters wept and wailed like a banshee. He ran from pillar to post seeking to get his mandate. Nothing happened. Now, after the bruising and routing of the election, the businessman seems to have healed well enough for another foray into the political ring when the incumbentâ€™s tenure ends.

Jeddy Agba

T H I S D AY SUNDAY AUGUST 27, 2017

Sunday August 27, 2017

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MISSILE ADP to APC

“My worry is that your party carries on as if nothing serious is happening, whereas the nation is sliding dangerously. Instead of your party to give direction to your men in government in accordance with your manifesto and party principle, you are busy opposing PDP that is long gone out of power and may not return soon. It appears your party is yet to wake up to the fact that you are the party in power and not the opposition.” – The National Chairman of Action Democratic Party, Engr. Y.Y Sani, berating the ‘slow motion’ attitude of the APC government to ﬁnding immediate and long term solution to the problems facing the country.

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This Thing Called ‘1999 Constitution’

he most evil document in circulation in the world today, I am told, is the 1999 Constitution of the Federal Republic of Nigeria (amended or not). It is such a bad document that it is only fit for the refuse dump. I am further told that all the problems and troubles with Nigeria can be traced to this vile document which has destroyed the hopes and aspirations of millions of Nigerians. It is such a useless and worthless document that until it is shredded, burnt and its ashes thrown into the sea, Nigeria will never make progress. I am made to understand that the 1999 constitution was written by the military and is, thus, to be disdained and avoided like a plague. Chief Bisi Akande, former national chairman of the APC, recently summarised the discontent with the 1999 constitution thus: “The 1999 Constitution is Nigeria’s greatest misadventure since Lugard’s amalgamation of 1914. The constitution breeds and protects corrupt practices and criminal impunities in governance. All the angels coming from the heavens cannot make that constitution work for the progress of Nigeria. It should only be scrapped as a bad relic of military mentality… Otherwise, the 1999 constitution would continue to dwarf Nigeria’s economy and stifle the country’s social structure pending a disastrous and catastrophic bankruptcy.” Wow! What is the 1999 constitution? Let me tell you a story. In 1998, after the death of the head of state, Gen. Sani Abacha, Gen. Abdulsalami Abubakar came to power. In an interview with THISDAY in December 1998 (I was a member of the interview team), Abdulsalami said he was so much in a hurry to organise an election and hand over power to civilians that he would have done it within 100 days in office if it were possible. When the election timetable was fixed and the presidential election was slated for February 27, 1999, he said he wanted to hand over by March 1999 but the lawyers advised him to give some time for post-election litigation. So they finally settled for May 29, 1999. Actually, Abdulsalami had other options before him. One was to use delay tactics by saying he wanted to write a new constitution. To set up a constitutional conference, hold elections into it, allow time for deliberations, recommendation, presentation of report, and then appraisal and approval by the Provisional Ruling Council (PRC) — the country’s highest decision making body at the time — Abdulsalami could buy at least two more years for himself and enjoy power for longer. He could even begin to toy with the idea of transmuting to a civilian president. You know how the devil works. But he was simply in a hurry to see the birth of democracy. Nevertheless, we needed a constitution. So on November 11, 1998, Abdulsalami inaugurated the Constitution Debate Coordinating Committee (CDCC) to “pilot the debate, co-ordinate and collate views and recommendations canvassed by individuals and groups and submit report not later than 31 December 1998”. It was not headed by a soldier but by Justice Niki Tobi, with Dr. Suleiman Kurmo as deputy chairman. There was no single military man on the committee. They went round the country to collect memoranda from the public through town hall meetings

Bisi Akande in Benin, Enugu, Jos, Port Harcourt, Kaduna, Kano, Ibadan, Lagos and Sokoto. They excluded military formations. After all the frenetic debates — up and down, north and south, east and west — the Tobi committee submitted its report to the military government. Tobi said: “In the light of the memoranda and the oral presentation on the 1995 Draft Constitution, it is clear that Nigerians basically opt for the 1979 Constitution with relevant amendments. They want it, and they have copiously given their reasons for their choice in the different memoranda and oral presentations. So we have recommended to the Provisional Ruling Council the adoption of the 1979 Constitution with relevant amendments from the 1995 Draft Constitution.” Abdulsalami accepted the recommendation. When the 1999 constitution was finally published, three of us at THISDAY sat down and placed it side by side with the 1979 constitution. We then did a clause-by-clause analysis. The trio were: Mr. Victor Ifijeh (the current MD of The Nation newspaper who was THISDAY editor then), Alhaji Yusuph Olaniyonu (SA to Senate President Bukola Saraki who was THISDAY politics editor at the time) and my not-so-humble self (then THISDAY features editor). We did a wordfor-word reading and laughed ourselves to stupor: this is pure plagiarism of the 1979 constitution! We were not surprised, though: the Tobi committee already told us what to expect. There were only a few notable differences in the two documents, such as the 13% derivation for oil-producing states and the number of states in the federation. While the 1979 constitution spoke about 19 states, 1999 said 36 states, logically. They were only reflecting the realities on ground. FEDECO in the 1979 document changed to INEC in 1999. I would therefore conclude that the 1999 constitution is a replica of the 1979 constitution. In fact, Prof. Akin Oyebode, the well-respected legal luminary who recently signed a statement by Southern Leaders of Thought to condemn the 1999 constitution, was a key player in the finalisation of that document in 1999.

I may have to add that the 1995 Draft Constitution referred to by the Tobi committee was produced by the National Constitutional Conference conveyed by Abacha. It was made up of appointed and elected members. One of its recommendations was the six-zone structure which we operate today, although it is not contained in the current constitution. Another proposal is the “minimum 13% derivation payment” to oil-producing states. I am highlighting these points in response to claims that our constitution was written by the military and not “we the people”. The military did not write any constitution — apart from promulgating the enabling decrees. The biggest irony for me is the vicious condemnation of the 1999 constitution by Chief Akande. Now you won’t believe this: Akande was a member of the 1977 Constituent Assembly that debated and produced the 1979 constitution — which, as you would find out, is 99% what we have as the 1999 constitution today! In 1977, Akande was elected to represent Ila and Odo-otin local governments in the Constituent Assembly. I repeat: the 1999 constitution is a photocopy of the 1979 constitution. Factually and logically, Akande has described the document he helped produce as “a bad relic of military mentality”. I am trying to make sense out of this. Military mentality? Again, let us look at that closely. The constitution drafting committee set up by Gen. Murtala Muhammed in 1975 was headed by Chief FRA Williams. He was not a major general, in my records. (Awo declined to serve on the committee because he wanted to run for president.) The report of the committee formed the basis for discussions at the 1977 Constituent Assembly. Notable CA members were Chief MKO Abiola and core Awoists such as Chief Bola Ige, Chief Abraham Adesanya and Chief Bisi Onabanjo. It was chaired by eminent jurist, Justice Udo Udoma. This is what Akande, himself an elected member, calls “military mentality”. I just can’t understand. Under the cloned constitution, Akande was elected governor of Osun state in 1999. Under the same constitution that “promotes corruption”, Akande ruled Osun state without stealing one kobo. He was the epitome of transparency and prudence, never given to materialism. He lost his re-election bid in 2003 partly because he refused to be corrupt. He refused to pillage state resources for electoral gain. He did not buy a private jet or houses in Dubai and America. Yet he believes that the 1999 constitution “breeds and protects corrupt practices and criminal impunities in governance”. In conclusion, I would like to emphasis one point: I have by no means suggested that the 1999 constitution is perfect. I am not that daft. My point is that there are too many statements being made by those against the constitution that are not based on facts. The 1999 constitution was NOT written by the military. I also hasten to say that nobody can write a perfect constitution. Even if Prof. Ben Nwabueze, a well-respected constitutional expert, writes a new constitution today, loopholes will surface in a matter of time. That is why laws are dynamic. As loopholes appear, you plug them. Meanwhile, is the 1999 constitution that horrible? This we shall discuss in my next article.

And Four Other Things… HOSTILE OPPOSITION Some people must be really disappointed and shocked that President Muhammadu Buhari is not dead yet. No matter their wishes, only the Giver and Taker of Life has the final say. The death wishers must be burning with bitterness that the “incapacitated” president has been holding meetings and signing agreements since his return. It felt good to me that he also met with APC and PDP leaders, thereby breaking the ice. But I chuckled at his statement that “opposition does not mean hostility, enmity or antagonism”. Really? APC came to power as one of the most hostile, adversarial and antagonistic opposition parties in our history. Irony. CAT AND MOUSE So President Buhari came back to Nigeria after a 103-day medical leave in the UK and the rats prevented him from entering his office. Okay, they said it was not rats that did it — that the office only needed renovation after being in a state of disuse for over three months. I’m not in a position to make an informed comment since I have not seen the office, but I was out of Nigeria for nearly one year from 2014 to 2015 and my office was as fresh as I left it. Why? In my absence, it was being cleaned every day. Which is why I don’t buy the cat-and-mouse game from Aso Rock. There is something they are not telling us but, as an African, I suspect something too. Theories. QUIT NOTICE The so-called Arewa youth coalition has withdrawn the quit notice given to Igbo to leave northern Nigeria by October 1. We are supposed to be dancing, right? Do we know the danger we are plunging this country into when a clearly idiotic and illegal quit notice is given by some people from one part of the country to another because others are expressing their fundamental rights to free expression? I insist that NOBODY has any right to ask a Nigerian to quit a state or region. We are playing with fire. Those who issued the quit notice should be behind bars by now. Everybody has a right to agitate but nobody has a right to threaten genocide. Insane. CUT OFF A lot of hell has been raised over the fixing of an all-time low baseline for entry into tertiary institutions. The minimum cut-off mark for university degree is now 120 out of 400 (it was a minimum of 200/400 in my time). For polytechnic, it is 100, colleges of education 100, and national innovative enterprise institution 110. Are we “going down low” to reflect the declining standards of education in Nigeria? In any case, I am one of those critics saying JAMB should stop handling admissions into higher institutions. JAMB could remain as a compulsory qualification test (like Toefl), but schools should determine their admission criteria and produce their own lists. Reform.

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