Friday 29th December 2017

Senate Summons Kachikwu, Baru, Others over Fuel Scarcity Saraki directs petroleum committee to suspend recess Marketers insist NNPC owes them N90bn Damilola Oyedele and Chineme Okafor in Abuja As fuel scarcity persisted in Abuja, the nation’s capital city, and several other big cities

in the country yesterday, the Senate President, Dr. Bukola Saraki, has directed the Senate Committee on Petroleum Resources (Downstream) to cut short its recess and

immediately convene a meeting with industry stakeholders. Chairman of the Senate Committee on Petroleum Resources (Downstream),

Senator Kabiru Marafa, who disclosed this in Abuja, said following the directive, the Committee has summoned the Minister of State for Petroleum, Dr. Ibe Kachikwu, Group

Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Maikanti Baru, and other relevant stakeholders in the petroleum sector to a crucial

meeting next Thursday. He said the meeting, which would be held in the Senate Hearing Room 221, and its Continued on page 8

Report Explains Why CBN Must Reduce Interest Rate in 2018 … Page 8 Friday 29 December, 2017 Vol 22. No 8289. Price: N250

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TODAY'S WEATHER

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MAIDUGURI 31°C-31°C

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ENUGU 25°C-28°C

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KANO 27°C-33°C

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Doctors Battle to Stabilise Buhari’s Son, Yusuf, May Be Flown Abroad President unhappy with security officials over late night bike ride Dambazau, Bello, Toyin Saraki join Aisha in vigil at hospital Jonathan, Atiku, Saraki, others pray for quick recovery Iyobosa Uwugiaren in Abuja Doctors at CEDARCREST Hospitals, Abuja yesterday continued their efforts to stabilise Yusuf, the only son of President Muhammadu Buhari, who had a powerbike crash on Tuesday night in the Gwarimpa District of the federal capital city. The crash, according to

presidential spokesperson, Malam Garba Shehu, left Yusuf with a severe injury to the head and multiple fractures, necessitating him to undergo a surgical procedure moments after he was admitted at the hospital on Tuesday night. A reliable presidency source, however, told THISDAY Continued on page 10

DPR Grants LPG Extraction Plant Permit to Operators of Otakikpo Marginal Field Chineme Okafor in Abuja The Department of Petroleum Resources (DPR) has approved for the operator of the Otakikpo marginal field in Oil Mining License (OML) 11 - Green Energy International Ltd, a license to build a Liquefied Petroleum Gas (LPG) extraction plant

in Ikuru area of Rivers State. According to a statement from the Director, Legal and Corporate Matters of Green Energy, Mr. Olusegun Ilori, on Thursday in Abuja, the License to Establish (LTE) granted it by the DPR would cover the construction of 12 Continued on page 10

George Weah is Liberia's President-elect... Page 47

FOR ACCELERATED DEVELOPMENT... L-R: Speaker, Ogun State House of Assembly, Hon. Suraju Adekunbi; Governor Ibikunle Amosun; and Commissioner for Budget, Ms. Adenrele Adesina; during the signing of the state's 2018 Appropriation Law at the Governor's Office, Oke-Mosan, Abeokuta... yesterday

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Report Explains Why CBN Must Reduce Interest Rate in 2018 Energy Crisis threatens to spike inflation rate

Obinna Chima in Lagos and Ndubuisi Francis in Abuja A report by the Financial Derivatives Company Limited (FDC), which did a comparative analysis between the economies of Nigeria and Ghana in 2017, has advised the Central Bank of Nigeria (CBN) to embrace an accommodative monetary policy stance and reduce interest rate. The FDC, in the four-page report titled: “Different Strokes for Different Folks: Lessons from Next Door (Ghana),� showed that while unemployment as well as underemployment in Nigeria currently stands at 40 per cent, that of Ghana is 21 per cent. Nigeria’s population is about 190 million, while that of Ghana is about 28 million. However, the report pointed out that in 2016, Nigeria and Ghana suffered from similar commodity shocks of oil, cocoa, gold and aluminium. Both countries saw sharp drops in economic growth, spikes in inflation and currency weaknesses. Owing to this, both countries adopted drastic steps of fiscal consolidation and international borrowing. In fact, Ghana went further to raise approximately $1 billion from the InternationalMonetary Fund (IMF), under a fouryear extended credit facility programme. The Ghanaian fund raising was further complicated by its closeness to a general election and the Nigerian economic plan is a work in progress. It added: “As both

countries began to see slow improvements in their economic fortunes, they adopted diametrically different approaches to monetary policy. “The Bank of Ghana eased and lowered interest rates four times in 2017, whilst Nigeria maintained status quo (contraction) in the last 12 months. “The outcomes are outstanding and tell a stark story of how you can achieve different levels of economic success by being bold, audacious and smart.� Ghana’s growth spiked from 1.1 per cent as of the second quarter of 2016 to 9.3 per cent in the third quarter 2017, one of the highest in the world. Similarly, the report showed that inflation in Ghana has dropped by 7.5 per cent (from last year’s peak of 19.2%) to 11.7 per cent. It said: “Ghana was in the league of high inflation countries in the world and has dropped off that ignominious table; its currency has softened by 6.79 per cent this year. “However, its growth numbers are distorted by its low oil production base in 2015. Nonetheless, the Ghana economic story makes the Nigerian economic management strategy look amateurish and pathetic,� it explained. On the other hand, Nigeria’s inflation slowed cumulatively by 2.82 per cent and growth of 1.41 per cent was described as suboptimal, fragile and uneven. According to the report: “Unemployment plus underemployment in Nigeria

have spiked to record levels of 40 per cent. The naira has strengthened by 42.47 per cent (year to date) and external reserves have grown but so also is the external debt level. “The fast-paced growth recorded in Ghana, within a short space of time, signifies the need for Nigeria to embrace an accommodative stance, reduce interest rates and increase liquidity to boost its recovery. “This has the downside of a weaker currency and heightening inflationary pressure. But as the saying goes, the end justifies the means. According to Keynes, in the long run, we are all dead.� But the CBN Governor, Mr. Godwin Emefiele, had in justifying the need for retaining its restrictive monetary policy regime at the last Monetary Policy Committee (MPC) meeting, explained that although loosening interest rate would strengthen the outlook for growth by stimulating domestic aggregate demand through reduced cost of borrowing, it could, however, aggravate upward trend in consumer prices and generate exchange rate pressures. He explained: “Loosening would worsen the current account balance through increased importation. On the argument to hold, the committee believes that key variables have continued to evolve in line with the current stance of macroeconomic policy and should be allowed to fully manifest.� Meanwhile, there are fears that the current nationwide

scarcity of petrol, which has culminated in a spike in transport fare as well as a rise in the prices of other goods and services may worsen inflation rate in the country. The current energy crisis reared its head in the second week of December and might affect the monthly inflation report of the National Bureau of Statistics (NBS) expected to be released in January 2018. For ten months in a row, inflation rate has been on a steady decline after peaking at 18.72 per cent in January 2017. Even without the current energy crisis, the last figures released by the NBS for the month of November indicated a marginal drop, a mere 0.01 per cent from 15.91 per cent recorded in October to 15.90 per cent in November. But one noticeable feature of the last inflation figures was that high year-on-year food prices and food price pressure continued into November though consistently at a slower pace month-on-month. The Food Index increased by 20.30 per cent (year-on-year) in November, down marginally by 0.01 per cent points from the rate recorded in October (20.31 per cent). The November drop in inflation, the tenth consecutive disinflation (slowdown in the inflation rate) though still positive in headline year-onyear inflation since January 2017 saw increases in all Classification of Individual Consumption by Purpose (COICOP) divisions that yield the Headline Index. On a month-on-month basis,

the Food sub-index increased by 0.88 per cent in November, up by 0.03 per cent from 0.85 per cent recorded in October. Speaking on the possible impact of the current fuel crisis on the December inflation rate, Associate Professor and Head, Banking and Finance, Nasarawa State University, Dr. Uche Uwaleke, said he would be surprised if both the core and food indexes do not rise primarily due to the fuel scarcity. Uwaleke told THISDAY: "Regarding what to expect for the month of December, I expect a spike in headline inflation in December, which is bound to continue into January 2018 since consumers are depending more on the costly 'black market'. Also, I foresee both rural and urban inflation rising in December. "Unlike the previous months, rural inflation will likely record a higher rate of increase due to the influx of people into the rural communities this festive season." Speaking generally about economic performance in 2018, he predicted a marginal improvement over 2017. He argued: "Because government revenues are still highly dependent on the oil sector, it is a no brainer that the performance of the economy in the New Year will be powered by the outcomes in the international crude oil market." According to him, the decision of the Organisation of Petroleum Exporting Countries (OPEC) to extend the output cut agreement through 2018

provides a guarantee that the crude oil price will stay above the budget reference price of US$45 per barrel. He, however, cautioned about the flip side, warning that the sustained oil price increase would lead to high cost of importing petroleum products. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Maikanti Baru, was reported to have said recently that the current landing cost of petrol was N171 per litre, a development compounded by hoarding, diversion and cross-border smuggling, on account of the wide price differential between Nigeria and neighbouring countries, pushing up demand for PMS in the country to over 50 million litres per day. Uwaleke said: "Whichever way the present crisis is resolved, the negative effects of the current fuel scarcity will likely linger into the first quarter of 2018. Headline inflation, which is beginning to prove sticky downwards, will spike in January. In response, the Monetary Policy Committee members in their meeting of January (that is, if a quorum is eventually formed) will leave the policy parameters (namely the Monetary Policy Rate at 14 per cent, Cash Reserve Ratio at 22.5 per cent and Liquidity ratio at 30 per cent) unchanged. There will be no significant departure from this monetary policy stance even during the MPC meeting of March 2018.�

dispensed free of charge to motorists by the team led by its GMD, Baru. “I want to warn marketers that don’t want to heed our advice, especially those operating at night that the law will catch up with them very soon. The Nigerian Security and Civil Defence Corps (NSCDC) has commenced monitoring of such stations. Just yesterday (Tuesday), we identified some defaulting stations and we are going to impound their products and dispense it free to motorists,� Baru was quoted to have said during a raid on an unnamed filling station in Byazhini Community, Kubwa, selling petrol at N250 per litre. He said about 24 trucks laden with petrol meant for Abuja were diverted to some states in the south eastern part of the country, adding that the defaulting marketers had been identified and would be sanctioned accordingly. On what the corporation was doing to contain the petrol scarcity, which has not cleared in Abuja, Baru said: “What we are doing is that we are maximising the daily truck out to Abuja and other cities. Yesterday, we had about 114 trucks that dispatched products to

Abuja as against 70 to 80 trucks earlier received daily. “As at Monday, we have loaded about 230 trucks for Abuja. When they arrive and with 24-hour operations in place, we should be able to eliminate most of the queues.�

SENATE SUMMONS KACHIKWU, BARU, OTHERS OVER FUEL SCARCITY proceedings aired live on the Nigerian Television Authority (NTA), is meant to address the lingering fuel scarcity and find a lasting solution to the problem. The Senate, which is currently on Christmas and New Year break is scheduled to resume committee work on January 9, 2018 to enable its various committees take defence of 2018 budget estimates from Ministries, Departments and Agencies (MDAs). Plenary commences on January 16, 2018. Meanwhile, the war of words between the Nigerian National Petroleum Corporation (NNPC) and oil marketers under the aegis of Depot and Petroleum Products Marketers Association (DAPPMA) on the cause of the lingering scarcity of petrol in the country continued on Thursday with DAPPMA refuting claims by the NNPC that its members owed it N26.7 billion in debt for petroleum products supplied to them. Instead, the DAPPMA, in a statement from its Executive Secretary, Olufemi Adewole, which was made available to THISDAY in Abuja, stated that the NNPC was owing its members over N90 billion, which they paid to its

subsidiary, the Pipelines and Products Marketing Company (PPMC), for petrol that has not been supplied to them. Irked by DAPPMA’s claims on Tuesday that its members had no petrol in their depots or tank farms across the country as initially stated by the NNPC that they (marketers) were lifting products from its supply stock, the corporation replied in a statement on Wednesday that members of DAPPMA owed it N26.7 billion as at December 21, 2017, for products supplied to them on credit. However, Adewole stated in the statement that the corporation and its subsidiary do not conduct business with the marketers on credit basis and could therefore not be owed by its members. He explained: “PPMC/ NNPC does not transact business with DAPPMA members on credit, hence we are not aware of any indebtedness to PPMC/NNPC by our members. “We again reject any attempt to blame marketers for the shortfall in supply as it is not our making since NNPC has been the sole importer since October 2017.� According to Adewole: “It is an undisputable fact that

DAPPMA members have paid for petrol supply (with bank funds) for over one month, the value of which is in excess of N90 billion, yet PPMC/ NNPC had no cargo to allocate to them. As such how can we be held responsible for hoarding?� He stated further: “The essence of our initial press release was to throw light on the salient issues surrounding the shortfall in the current petrol supply, which is currently solely handled by the NNPC. It was not an attempt to join issues with PPMC/NNPC with whom we are partners. “NNPC’s view of our press release stating our side of the story and seeking to defend marketers for the very first time against the unwarranted accusations of hoarding and profiteering is rather unfortunate.� Buttressing his claim that marketers were innocent of the allegations of hoarding and diversion of petrol as claimed by the corporation, Adewole said: “Marketers have continued to sacrifice to keep the country wet with fuel despite over N600 billion debt owed our members and over N800 billion owed marketers as a whole by the

federal government. “We assure Nigerians, irrespective of NNPC’s stance that all possible steps are being taken as we have always done, to cooperate with PPMC/ NNPC to eliminate the fuel queues nationwide within the next few days.� But the NNPC said in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, that its joint monitoring of the fuel scarcity in Abuja, with the Department of Petroleum Resources (DPR) and Nigerian Security and Civil Defence Corps (NSCDC) had seen them clampdown on more petrol stations that hoarded petrol or sold above the controlled pump price of N145 per litre. It explained that this was in a bid to curb diversion of petrol by unscrupulous marketers and the activities of illegal filling stations known for receiving diverted products and selling same to motorists at cut-throat prices in Abuja and environs. According to the corporation, so far, seven of such stations along the Kubwa and Airport Road axis of Abuja, have been clamped down with the petrol found in their storage tanks

TOP GAINERS CUTIX TOTAL DOUBLE11 LAFARGE CUSTODIAN TOP LOSERS LINKAGE OMOLUABI HONEYWELL

NGN NGN 0.10 2.10 10.95 229.95 8.64 186.95 2.00 45.00 0.17 3.89 NGN NGN 0.03 0.66 0.03 0.75 0.07 2.12 LIVESTOCK 0.02 0.85 FIDELITYBANK 0.04 2.45 HPE Nestle Nig Plc â‚Ś1,485.00 Volume: 322.391 million shares Value: N3.619 billion Deals: 3,354 As at yesterday 28/12/17 See details on Page 43

% 5.0 5.0 4.8 4.6 4.5 % 4.3 3.8 3.2 2.3 1.6

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8 Killed, 14 Injured in Bomb Attacks on Borno Village Michael Olugbode in Maiduguri Eight persons were killed in suicide bomb attacks on a Borno village on Thursday. The attacks also left 14 others injured. According to a resident of the village, Amarwa community in Konduga Local Government Area of Borno, the attacks were simultaneously executed by two suicide bombers. A resident, Babagana Modu, told THISDAY that the suicide bombers, both females, infiltrated the village about 12pm and detonated the Improvised Explosive Device (IED) strapped to their bodies. Modu said initially the explosion consumed five

persons, including the two suicide bombers and left 17 persons injured. He said the 17 injured persons were taken to the Borno State Specialist Hospital in Maiduguri for treatment. But three of them died later as they could not survive the injuries sustained in the explosion. Bunu Bukar, the State Secretary of Borno Hunters Association told journalists in Maiduguri that the attacks happened about 12 noon on Thursday. He said: “The suicide bombing in Amarwa village of Konduga, and about 17 kilometres away from Maiduguri Township has claimed 5 lives including the two suicide bombers and about 13 other people

were injured and have been evacuated to hospitals in Maiduguri for further medical treatment". According to him, the village had been attacked before but the previous attack was not as devastating as yesterday’s. A staff of the State Specialists Hospital, Mahmud Bukar, was later to reveal to journalists that three persons could not make it out of the people injured. He said: “We had a total of 17 injured victims brought into our hospital from Amarwa in Konduga this afternoon (Thursday) and unfortunately, we lost two even before they were operated upon and few minutes ago, another victim passed away in the

theatre room. "We now have three deaths, and fourteen injured victims in our hospital at the moment". He added: “I was reliably informed by the relations of some of the victims that, three people, excluding the two suicide bombers lost their lives in the attack before the injured persons were evacuated to the hospital so, going by their calculations, we now have six deaths and fourteen injured.� Bello Dambatta, Head of Rescue Operations of Borno State Emergency Management Agency (SEMA) confirmed the incident, saying six lives were lost while 14 persons were injured.

Borno State Governor, Kashim Shettima

DOCTORS BATTLE TO STABILISE BUHARI’S SON, YUSUF, MAY BE FLOWN ABROAD yesterday that because of the severity of Yusuf’s condition, doctors had to induce him to slip into coma as part of the procedure to stabilise him. He said plans had been concluded to fly the president’s son abroad for a more intensive care once the doctors stabilise him. The three-storey building of the private hospital located at Apo Dutse District, Abuja, continued to attract huge vehicular and human traffic yesterday as hundreds of people thronged the Orthopaedic Ward of the hospital to sympathise with Yusuf. Senate President Bukola Saraki, many of his colleagues from the National Assembly, ministers, governors and other prominent personalities have visited the hospital in the last 48 hours. Apparently to control the huge traffic at the hospital, a large contingent of security operatives from the Brigade of Guards, the Department of Security Services and the Nigeria Police Force were seen at the premises keeping eyes on visitors entering and leaving the hospital. A source told THISDAY that the president, who was at the hospital on Wednesday, was unhappy with his security officials for allowing his

son to leave home at 8pm on Tuesday for the power-bike racing. ‘’The President was at the hospital on Wednesday night. He was very devastated when he saw his son, Yusuf, in a very critical situation. He was shaking his head, while looking at his son and thereafter angrily reprimanded his security officials for allowing Yusuf to leave home at that time of the day for power-bike racing,’’ the source who was at the hospital when the president visited told THISDAY in confidence. He added: ‘’From the way the president spoke, it appears the security aides are in trouble. He spoke angrily. The Minister of Interior, Lt-Gen. Abdulrahman Dambazau (rtd); his FCT ministry counterpart, Alhaji Mohammed Bello; and the Senate President’s Wife, Mrs. Toyin Saraki; stayed throughout the night of Tuesday till Wednesday at the hospital with Hajia Aisha Buhari. ‘’While the doctors were working to stabilise him, Dambazau kept appealing to the doctors to do everything possible to stabilise Yusuf, saying the president would find it very difficult to bear the pain if anything happens to his son.’’ The source said that the

president had directed that Yusuf be treated at the CEDARCREST Hospitals for now. ‘’Yes, the president had directed that Yusuf be treated at this hospital for now. In any case he is still in coma with serious pain; so, he cannot survive long-flight for now. He still needs few days to come out of the coma before any consideration of flying him out of the country for more medical attention,’’ the source added. THISDAY gathered that the young man arrived the hospital unconscious and that doctors fought hard to stabilise him. Yusuf was reportedly racing with a friend when in an attempt to overtake a vehicle, he skidded off the road, sustaining injuries that made him unconscious. His mother, Aisha, who was said to have been quickly alerted about the incident, directed his evacuation to Cedarcrest Hospitals, Abuja for prompt medical attention. In an earlier statement by Malam Garba Shehu, Senior Special Assistant to the President on Media and Publicity, he said Yusuf broke his limb and sustained head injury in the accident. According to him, he had undergone surgery and

was now in stable condition, adding that both the president and his wife were grateful to Nigerians for their goodwill and prayers. Medical experts said that Yusuf is in best medical hands at the Cedarcrest Hospitals, which is described as ‘’a modern specialist medical care centre.’’ Information posted on its website indicates that the hospital was founded in January 2008 with the aim of providing high standard healthcare services to patients within and outside Nigeria. The centre started off as a highly specialized orthopaedic facility, registered as Cedarcrest Orthopaedic Clinics Ltd. Before long, it became obvious that other specialties had to be incorporated partly due to the success of the centre and partly due to the lack of local specialist services in those specialties that relate directly with orthopaedic and trauma surgery. The hospital also offer’s specialist services covering internal medicine, obstetrics and gynaecology, radiology, rheumatology, ear, nose and throat surgery, dietetics, physiotherapy and general practice. The specialists at the hospital are said to be working in liaison with centres in the United Kingdom and the

United States and frequently have visiting surgeons from these foreign hospitals. Meanwhile, former President Goodluck Jonathan and former Vice President Atiku Abubakar have sympathised with Buhari over the incident, praying for the quick recovery of his son. Jonathan also tweeted: “I have been in Liberia monitoring elections and only just heard the sad news. “My family and I are in prayers for the quick recovery of Yusuf Buhari. It is my deep desire that a young man so full of promise should live and thrive to fulfil the promises God has domiciled in him.’’ Atiku also said in a tweet: “Our thoughts are with the first family. Our family will be praying for you. We wish Yusuf a speedy recovery.� Senator Ben Murray-Bruce of the opposition Peoples Democratic Party (PDP) also wished Yusuf quick recovery. “I wish Yusuf Buhari a very quick recovery. A young man full of promise. My family and I want President @MBuhari to know that we are with him and his family in our thoughts and prayers.’’ A former aide to Jonathan and a fierce critic of Buhari, Mr. Reno Omokri, tweeted: “Today should be a day when all of us Nigerians must put our partisanship aside and join

with the @MBuhari family to pray for the quick recovery of their son, Yusuf. “There are things that divide us. But a thing such as this should unite us in wishing well to the first family.’’ Senate President Bukola Saraki said: “May the Almighty grant Yusuf Buhari a quick and full recovery. My prayers are with President Buhari and his family at this time.’’ In its reaction to the incident, the PDP said it would pray for the speedy recovery of Yusuf. A statement in Abuja by its National Publicity Secretary, Mr. Kola Ologbondiyan, said the party was shocked by the news of the accident. It said: “PDP as a family received with shock the sad news of the involvement of Yusuf in a power-bike accident in Abuja on Tuesday. “The PDP as a family prays for Yusuf’s speedy recovery to enable him return to his normal life.� The party said it was reassured by reports from the presidency that Yusuf was in a stable condition. “We also commend the prompt intervention by medics even as we value the concerns of all well-meaning Nigerians and their prayers for Yusuf and the first family,� it said.

DPR GRANTS LPG EXTRACTION PLANT PERMIT TO OPERATORS OF OTAKIKPO MARGINAL FIELD million standard cubic feet per day (mmscfd) capacity LPG plant. Ilori, explained that the license approval was part of a pilot gas project approved by the federal government for its zero gas flares operation in the country. He noted that the company, which began oil production in February 2017, was determined to ensure full utilisation of the gas produced from its field for LPG and power generation, adding that the approval has made it possible for it to take a final investment decision (FID) on the gas project and awarding the Engineering, Procurement, Construction

(EPC) and installation of the LPG extraction plant to PCC-LAMBDA Consortium, formed between Nigerian indigenous companies and a Chinese company - Peiyang Chemical Equipment Co. Ltd (PCC). PCC, he noted, was also the original equipment manufacturer (OEM) and would be responsible for the manufacturing and designing activities associated with the LPG project. “The gas utilisation programme involves the use of lean gas to power 12 megawatts (MW) gas generator at Otakikpo field out of which 5MW would be dedicated

to the host communities in line with its MoU with the government, while the LPG and propane would be bottled and sold. Part of the LPG shall be for domestic use within Otakikpo communities in order to support small scale industries,� said Ilori. According to him, the LPG plant is expected to be completed within 12 months and would boost Nigeria’s drive to utilise her gas resources for industrialisation. Similarly, another statement signed by the Technical Director of the oil firm, Dr. Bunu Alibe, stated that it had commenced the process of acquiring 3-D seismic data

to maximise opportunities from the Otakikpo oil field. It stated that the Chinese firm - SINOPEC Changjiang Engineering Services Limited, had been contracted for the 3-D seismic acquisition program, adding that the acquisition process would commence in January 2018 and be completed by June 2018. The DPR, it said, has also approved of the exercise to go on, while Green Energy has attracted a unique vendor financing deal with SINOPEC in which payment for the 3-D seismic cost will be from cashflow from existing field production spread over the

stages of the project. Alibe explained: “The 3-D seismic imaging is required to improve the subsurface understanding of the Otakikpo tested geological structure. The 3-D data will be used to high-grade and de-risk opportunities in the farm-out area as well as to increase exploration success rates of the untested structures (Otakikpo South) on the asset. The field which commenced production in February this year, is currently producing over 7000bopd.� He stated that the programme was amphibious and would cover an area spanning both onshore and

offshore surface area of 197 square kilometre and 62 square kilometres subsurface fold, with water depth ranging from shoreline to 16 meters. “40 per cent of the seismic survey spans the offshore area, the SINOPEC’s M/V SU YOU HAO using the latest solid streamer technology will be deployed for this operation. With a six kilometres offset and nine second record length, these data will provide spectacular imaging of the transitional zone of Niger Delta Coastal Swamp II Depobelt and will revolutionise the understanding of the Agbada and Akata Plays in this axis,� added Alibi.

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News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

Suspended Lawmaker, Jibrin Meets Buhari, Says I Have Learnt a Lesson Omololu Ogunmade in Abuja Embattled Hon. Abdulmumin Jibrin who was suspended by his colleagues in the House of Representatives in September 2016 over perceived misconduct, met for the first time with President Muhammadu Buhari in the State House yesterday behind closed-doors. Every effort Jibrin had earlier made to see the president while the face-off between him and the House of Representatives

raged in 2016, yielded no fruit as he was effectively blocked whereas the coast was cleared for the Speaker, Hon. Yakubu Dogara, to see the president. Jibrin, while answering questions from journalists after meeting the president yesterday, said episodes like his suspension provides him with an opportunity to learn one lesson or the other. “For every situation like this, there is always an opportunity to learn. It is a learning curve.

Oyegun: How I Survived Plot to Remove Me The National Chairman of the All Progressive Congress (APC), Chief John Oyegun, yesterday said he survived the plot to remove him from office because he didn’t do anything “dishonourable.” Oyegun said he was targeted because of his “loyalty.” The APC chairman, who spoke in Bénin City, Edo State, where he was honoured as “Ogbe Eni” (Elephant killer) by the Benin National Congress, said God vindicated him in allegations against him. He said his background where disgrace to the family was not tolerated has guided him in all his endeavours. He said President Muhammadu Buhari was God sent to Nigeria and is building a country on an economy that is based on the sweat of Nigerians. Oyegun said Buhari was not elected by the elites but by ordinary Nigerians that believed in him. He said: “We will never again suffer from the collapse of crude oil. Today, agriculture is booming,

today we are self -sufficient in the production of agro products. President Buhari has concluded plans to deliver 3,500 megawatts of electricity to us. We took over a totally collapsed country but today things have started to solidify, our economy is growing and Nigeria will never again experience that type of recession we witnessed. “Change mantra is not electricity, is not water, but changing our morals, doing what is right, changing our attitude, a system that rewards competence and productivity. So we must change those bad aspects of our lives and we will enjoy the Nigeria that we all crave for and the Nigeria that President Buhari intends to put in place for all. “So, all my life this is the circumstance that has conditioned me. One, I do nothing that will not make me to have sound sleep, I do nothing that I will be afraid to see at the headline of any of the national dailies. Yes I have been put to several trials and I have overcome them all.”

MTN Assigns $231m Shareholder Loan to IHS MTN Group, Africa’s biggest mobile phone operator, yesterday said it had assigned a $231 million shareholder loan to phone tower group, IHS Holding Limited, impacting its 2017 profits. MTN, which returned to profit in the first half of its financial year in the absence of one-off charges related to a $1.1 billion Nigerian fine, said the assignment of the loan to IHS will lead to a loss of 2.8 billion rand ($228 million) on transfer of the carrying value of the loan. The loss on transfer will impact headline earnings per share (HEPS) for 2017, the main profit measure in South Africa that strips out certain one-off items, but not earnings before interest, tax, depreciation and amortisation (EBITDA), Reuters quoted the firm to have said. MTN said the loan, which is due in 2024/2025, will allow its Nigerian unit to continue to invest in its network and simplify MTN’s interests in IHS. “The agreement will enable MTN and IHS to mutually benefit from continued investment and commitment to the rollout of broadband and data services in Nigeria,” MTN said in a statement. MTN formed a joint venture partnership with specialist tower

company IHS in 2014 to own and operate MTN’s transmitter towers in Nigeria. IHS has operations in Nigeria, Cameroon, Cote d‘Ivoire, Rwanda and Zambia. MTN Nigeria is part of the MTN Group, Africa’s leading cellular telecommunications company. On May 16, 2001, MTN became the first GSM network to make a call following the globally lauded Nigerian GSM auction conducted by the Nigerian Communications Commission (NCC) earlier in the year. Thereafter the company launched full commercial operations beginning with Lagos, Abuja and Port Harcourt. MTN paid $285million for one of four GSM licences in Nigeria in January 2001. To date, in excess of US$1.8 billion has been invested building mobile telecommunications infrastructure in Nigeria. Since launch in August 2001, MTN has steadily deployed its services across Nigeria. It now provides services in 223 cities and towns, more than 10,000 villages and communities and a growing number of highways across the country, spanning the 36 states of the Nigeria and the Federal Capital Territory, Abuja.

So, it is fine,” he said. Jibrin was suspended following the recommendation of the House committee which investigated his outburst against the Speaker, Dogara, whom he had vehemently accused of corruption and padding the 2016 budget. He also ignored the committee’s summons to appear before it to defend his allegations against the speaker. Hence, he was suspended for 180 days with a caveat that he must write a letter of apology to the House before he could be recalled, a resolution which he has since ignored. Comparing his suspension with that of the former Senate Leader, Ali Ndume, Jibrin, said whereas his case was still pending before a law court,

Ndume’s suspension was called off within two months as he expressed hopes that the court will adjudicate on his matter so soon. “Well, that is the interesting thing about the situation. The same case, similar case, identical case was dispensed with within two months but I’m still hanging in the court system, but again, I know the Nigerian judiciary is just so. I’m pretty sure that soonest, I will be able to get judgment and my constituency will soon get back to the House,” he said. Asked if he sought the president’s intervention in his ordeal with the House of Representatives, Jibrin declined comment, saying what was important

was that he met with the president and both of them interacted like father and son. “Well, I cannot comment in that regard. The most important thing is that I saw him and he is in a very high spirit. I greeted him like a son and he spoke to me like a father. As you are now aware, I have not seen the president for awhile. It’s a meeting between a father and a son,” he said. On his reaction to recent calls for his recall by certain Nigerians, the lawmaker said such calls were not unexpected having been in suspension for 16 months while the voice from his constituency had been shut down in the House for almost one and half years.

“It is only normal. Of course, Nigerians like justice. My constituency has been suspended for 16 months. So it is only normal that people will talk and ask questions, why are we not back on the aspect of court case that has been lingering in the court for the past 16 months. I think these are some of the reasons people are raising issues in the public glare,” he added. Asked if the crisis rocking the Kano State chapter of the All Progressives Congress (APC) featured in his discussion with the president, Jibrin answered in the negative but added that the involvement of Buhari’s son in an accident last Tuesday was mentioned, adding: “I greeted him and wished his son quickest recovery.”

IN THE MOOD OF THE SEASON

Cross River State Governor, Professor Ben Ayade (speaking), supported by his deputy, Professor Ivara Esu (second left), Senator Florence Ita-Giwa; former Deputy Governor, Efiok Cobham; Speaker, state House of Assembly, Hon John Gaul Lebo( (first right); and Senator Gershom Bassey (first left), flagging off the Carnival Calabar.....yesterday

PDP Not Credible Enough to Dislodge Buhari, Fayemi Insists Says opposition scheming return to steal Victor Ogunje in Ado Ekiti Former Governor of Ekiti State, Dr. Kayode Fayemi, has described the attempt being made by the Peoples Democratic Party (PDP) to reclaim power in 2019 as an alleged plot to continue to loot the country. The Minister of Mines and Steel Development, urged Nigerians not to use the current fuel scarcity to rate President Muhammadu Buhari’s performances, saying: “What we are witnessing is just a normal curve in the life of any administration. We will get over it and move on, but largely president has not disappointed Nigerians.” The minister described the panel of enquiry inaugurated by Governor Ayodele Fayose to probe his administration as a kangaroo one, revealing that it was an attempt to smear his reputation and render him unpopular by the PDP-led

government. “Fayose stock in trade is lying against someone to score political gains. They started with the probe of N852 million UBEC fund and when they knew they could not go far, they started concocting lies and said I looted N17 billion. “Let us wait and see who will go to jail between Fayose and I. I have been out of office and I am still moving free, but I am sure he won’t be able to walk free on the streets after losing immunity because of the way he had ran the state aground,” he stated. Addressing journalists in Isan Ekiti in Oye Local Government Area of Ekiti State on Wednesday, Fayemi said Nigerians would ensure that PDP didn’t return to power because of the high level of looting it perpetrated while in the saddle. Fayemi, who didn’t say categorically whether he is still

nursing governorship ambition, said the APC is incurably committed to making sure that Ekiti rejoins the league of developing states by ensuring that the party wins the 2018 governorship poll. “What the PDP wanted to come back and do is stealing. The options for Nigerians in 2019 is to either return to the old age of criminalisation and brigandage by voting for the PDP, because nothing to convince Nigerians that they have changed with the shenanigans that characterised their national convention and poor performances by their governors. “Up to now, Dr. Goodluck Jonathan and his henchmen have not apologised about how they ran the country aground. So, there is nothing to suggest that PDP remains a credible alternative to APC in 2019,” he said. Fayemi discountenanced the attacks by his political adversaries

that he has not used his ministerial position for the benefit of the state, saying: “What I have done is measurable and clear. This government has began the construction of a federal secretariat and housing estate in Ekiti and the rail-line was extended to this state in the federal government’s proposal due to my intervention. “4,000 Ekiti indigenes are benefitting from N-power and very soon it will go up to 12,000. The proposal for kaolin exploration in Ekiti has just been completed that of the bauxite will begin soon. “President Buhari’s government is planning to set up a cottage industry in Ekiti for the sake of the solid minerals exploration and I have enlisted small scale miners around Ijero Ekiti for them to be able to benefit from the N5billion loan set up by the Bank of Industry,” he revealed.

FRIDAY DECEMBER 29, 2017 ˾ T H I S D AY

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NEWS

Ekweremadu Advocates Return to Parliamentary System of Govt Christopher Isiguzo in Enugu The Deputy Senate President, Senator Ike Ekweremadu, has identified high cost of governance and inherent disconnect between

political leaders and the populace as the major flaws of the presidential system of government. On the contrary, he said the parliamentary system is cheaper to run and promotes popular participation and accountability.

More Troops Deployed to Southern Kaduna to Stem Attacks John Shiklam in Kaduna More troops have been deployed in the southern part of Kaduna State to beef up security following the recent killings of 10 people in the area by gunmen suspected to be herdsmen. On December 22, gunmen attacked Nindem community in Godogodo Chiefdom, killing four people while in a similar attack in Anguwan Mailafiya, Gwong Chiefdom, six people were killed on Christmas eve by suspected herders. Both communities are in Jama’a Local Government Area of the state. Spokesman of the state governor, Samuel Aruwan, in a statement yesterday in Kaduna said the deployment of more troops was to stem any further attack in the area. He said the state had provided a patrol van and motorbikes, including royal motorbikes to military personnel in the area to enhance security patrols. According to him, the royal bikes are meant for difficult terrains. “Concerted efforts to maintain peace in southern Kaduna are continuing. The military authorities have deployed more troops in the area. Extra troops posted to the general area from December 24, 2017, have since arrived and are operating in the areas assigned to them. “Furthermore, in order to

enhance security patrols in the area, the Kaduna State Government has provided the military with a new patrol van. “The government has also supplied royal bikes that are meant for difficult terrains in addition to conventional motorcycles “The security actions are being complemented by the officials of the Kaduna State Peace Commission who have commenced peace building engagements in the Kaduna South senatorial district,” the statement said. According to Aruwan, the leadership of the peace commission was engaging with the clergy, traditional and community leaders and other stakeholders to ensure peace and stability in the area. “The government welcomes the confirmation by the military authorities that there were no security breaches in the area on Christmas day and on Boxing Day, enabling residents to observe peaceful celebrations. “The Kaduna State Government wishes to express its appreciation of the collective efforts made for peace and security by traditional and religious leaders and members of the public,” the statement said. The statement called on all citizens to contribute to peace and stability by maintaining vigilance and reporting suspicious activities to the appropriate authorities.

Ekweremadu spoke at the inaugural session of the non-partisan Enugu West Peoples Assembly last Wednesday at Udi, Udi Local Government Area, Enugu State. The lawmaker, who has been an advocate of a hybrid of the presidential and parliamentary systems of government, said deliberations at the assembly were consciously tailored along the parliamentary system to enable the people seek direct answers from their elected representatives on issues relating to their wellbeing and their collective aspirations. “What we are doing here is a very creative contribution to political science. For a long time, some of us opposed the presidential system for the reason of its expensive nature and disconnect between the leaders and those they are leading. “You hardly see your ministers and commissioners. Sometimes, even when you invite them, they do not come. But what we are doing here

is akin to a parliamentary system where the Prime Minister Cabinet Ministers, and other government officials regularly field questions from the parliamentarians. “If there is a problem with roads, the Minister of Works takes questions and offers answers. If the issues relates to transportation, the transport minister is taken to task and so on. That is exactly what we have been doing today. “What we want to do is to show Nigerians that at our own level; at the local level, the parliamentary system can work and I am happy that it is working here and we are sitting here and thinking about the welfare of our people,” he said. The Deputy Senate President also harped on the need to focus on the youths and women in the political recruitment process with a view to producing future leaderships that are vast in experience at all levels of government.

“We are going to promote political empowerment of the youths, especially at the lowest level to nurture them for higher political leadership. That is why the average age of our councilors in Enugu West senatorial district is about 25 years. In the next few years, they would have risen to the peak with sufficient experience instead of retiring midway as those that start much later in life,” he said. Fielding questions on the high unemployment rate in Nigeria Ekweremadu said the solution rested on vocational training and skill acquisition as government could not provide employment for all. “That was why I facilitated the setting up of the European Vocational Training School in Enugu to offer over 20 vocational training in the areas of technique, food services and hospitality, information and communication technologies, agriculture and energy, beauty and

fashion among others to create a pool of self-employed people who will employ others,” he added. He further explained that the Governor of Enugu State, Hon. Ifeanyi Ugwuanyi was working on the establishment of two industrial park at 9th Mile and Ememe, Enugu, which would be boosted with a Free Trade Zone on completion to create job opportunities for the teeming masses of the state and beyond. Meanwhile, the inaugural session of the Enugu West Peoples Assembly was graced by the elected political leadership in Enugu West, including the two members of the House of Representatives from the zone, Hon. Toby Okechukwu and Hon. Dennis Amadi as well as the five Council Chairmen, Councillors, traditional rulers, presidents-general of town unions, and representatives of youths, women, market associations.

REFORM COMMITTEE Fuel Scarcity: APC-led FG Has PRISON L-R: Attorney General of the Federation and Minister of Justice Abubakar Malami; Secretary, Presidential Committee on Prisons Reform, Mrs. L. Ayoola-Daniels; Chief Judge, FCT, Justice U. I. Bello; and Director, Public Prosecution (DPP), Ministry of Justice, U .E, Mohammed, Failed Nigerians, Says ADP during the visit of the Presidential Committee on Prisons Reform Intervention to Kuje Maximum Security Prisons in Abuja..... yesterday Onyebuchi Ezigbo in Abuja The Action Democratic Party (ADP) has chastised the ruling All Progressives Congress (APC) for its inability to find lasting solutions to recurring incidence of fuel scarcity bedeviling the country. The party said the APC-led federal government should bury its head in shame for not fulfilling a promise made to the people to end fuel supply crisis. In a statement issued yesterday by its Director, Media and Publicity, Kayode Jacobs, the party said it was not enough to always give excuses for failure to meet expectations of the people but that as a party in government, APC should strive to solve problems when they arise. According to the National Chairman of the party, Yabagi Sani, one of the major reasons Nigerians trusted their destinies in the hands of President Muhammadu Buhari was the boast on having solutions to rampant fuel crises and subsidy regime but only two years after, the queues are back and government remains helpless with evidence that nothing concrete had been done to permanently solve the problem. The ADP chairman, who

Julius Atoi

carpeted the Vice President, Yemi Osinbajo, for saying the fuel crisis is shameful, and that the Nigerian National Petroleum Corporation (NNPC) and not government is paying subsidy at this time, asked whether NNPC is different from government. “Who is responsible for the shameful handling of the fuel crisis and on whose behalf is NNPC doing business? he queried. Yabagi submitted that it was a shame that this government is still faced with the option of having to approve increment in pump price or pay subsidy. “I think the government should be responsible enough to admit its failures and frustrations instead of giving excuses on the past and pointing fingers at the opposition. “We at the ADP indeed sympathise with Nigerians who had to go through untold hardship to rejoin their families at Christmas; he lamented, and said the party is aware many Nigerians may have to sell personal effects to return to work now or in January. “It is our hope that the APC government will apologise and proffer solutions in the 13 months remaining before the curtain is drawn on their tenure,” he said

Medview International Passengers Revolt against Flight Cancellations Chinedu Eze About 700 passengers travelling to Dubai and London on Medview Airline flights yesterday protested violently against the airline for cancelling their flights for four days. The passengers have become stranded at the Murtala Muhammed International Airport (MMIA), Lagos, where many of them spent their Christmas. The aggrieved passengers yesterday morning marched to the Nigerian Civil Aviation Authority (NCAA) Consumer Protection Directorate to complain about the failure of the airline to airlift them to their destinations as scheduled. Some of the passengers who spoke to journalists said they ought to have flown out of the country to their destinations since December 24, but have been stranded since then without any concrete travel plan from the airline and no plan for compensation. Reacting to the incident, a statement issued by the airline management explained that the

reason for its delayed flight out of London, Gatwick, stating that the airline had to deal with an Aircraft on Ground (AOG) situation compounded by the holidays and other uncomplimentary factors that have made the situation linger. The airline in a statement issued from the United Kingdom by Chief Operating Officer/Accountable Manager, Mr. Michael Ajigbotosho, said the airline’s aircraft had to embark on an air return as part of safety measures. He also stated that the airline had got approval for three aircraft to airlift at least 700 passengers but for the unruly behaviour of some passengers which made Border Force to wade in and eventually only two of the flights could leave London. The statement said: “Our flight VL 2101 out of London to Lagos on December 22 which has about 300 passengers on board returned back to Gatwick after departure as a precautionary measure taken by the Pilot- in -Command (PiC) in line with Aviation Standard and

Recommended Practices. “This led to cancellation of the flight as the aircraft was declared AOG (Aircraft On Ground). The passengers were catered for, they were lodged in a hotel and those who decided to go back home were also taken care of. “After the aircraft was declared AOG, we had to wait for a maintenance report. The aircraft had to remain on ground until a certified expert carried out the necessary checks and certify that the aircraft is airworthy. And the holiday compounded the problem. “In line with that confirmation, we decided to seek a relief flight and tried as much as possible to get the approval from both the Civil Aviation Authority (CAA) of Nigeria and the CAA of United Kingdom in Gatwick. We attest to their full cooperation and we appreciate them. “We announced to operate three flights feeling the concern of all our passengers. On December 27, we positioned three aircraft after securing the approval of the CAA

including Nigerian authority. “Disappointingly, due to the unruly behaviour of some Nigerian passengers, the Border Force had to intervene to support the operations for crowd control purposes. “These three aeroplanes would have evacuated 700 passengers which would have normalised the situation. But the passengers neither understood nor knew the challenges ahead which resorted to having a delayed operation and crew rest and we ended up operating two flights out of three.” The airline appealed to its Nigerian customers, expressing appreciation for their patronage and apologised for the experience they went through this Christmas. “We seek their understanding to know that their safety comes first before any other thing. We feel their concern and the expectations of meeting their families for the Christmas holiday. Our normal flights resume on Friday for London, Dubai and Jeddah,” the statement also said.

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COMMENT

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

REPLICATING THE ZIMBABWE EXPERIENCEÂ Â The Buhari administration has lost the initiative to fight corruption, argues Akeem Soboyede

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will start this piece with a quote from the announcement on Zimbabwean state television that heralded the recent ouster of 93-year-old Robert Mugabe as leader of that country: “...We are only targeting criminals around him [Robert Mugabe] who are committing crimes that are causing social and economic suffering in the country in order to bring them to justice...� It is instructive the man who announced the coup (yes, it was, albeit a very unusual one!), Colonel S.B. Moyo---and those others in that country’s military who sent him on that “assignment�--chose not to dwell on Mugabe’s own crimes (i.e. the Matabeleland massacres, the needless collapse of Zimbabwe’s economy under his watch, etc.) when they sought to justify their actions to the populace of that country. Instead, they chose to highlight the actions, provocations, schemings and shenanigans of Grace Mugabe (clearly the one person “around� Mugabe the most!) and members of her “G40� group who schemed to seize political power from the increasingly-adrift 93 –year- old Mugabe, even though it was obvious they only sought such power for its own sake, and not to improve the lot of the vast majority of ordinary Zimbabweans. One cannot also escape the notion that in focusing on “criminals around Mugabe� as the raison d’etre for its putsch, the Zimbabwean military signaled it believed that at his advanced age, Mugabe had grown senile enough or had simply become incapable of steering the ship of state, and that it was seizing control from the increasingly-feeble captain of the Zimbabwean ship, in order to avert a tragedy of Titanic proportions.  It is sad that just a little over two years that Nigerians voted in President Muhammadu Buhari into office in massive numbers, the Zimbabwe experience appears to be replicating itself in our polity. Unlike Mugabe, Buhari has not held the reins of the Nigerian state for a “solid� 37 years, save for a stint as military head of state between December 31, 1983 and August 27, 1985, in addition to his current tenure. But as in the Zimbabwe of Robert Mugabe where a spouse and influential members of shadowy political group exercised power on behalf of an increasingly decrepit ruler, it has become a season of one scandal after the other, so to speak, in the Buhari administration.  Like Mugabe also, despite the stench of unending scandals, the president appears only intent on securing himself in power for another term in office, while regimes of unchecked impropriety roam the land. The saga involving the re-absorption of Abdulrasheed Maina, erstwhile head of the Pensions Reform Task Force, is a case in point. After years on the run sequel to being declared a fugitive by Nigeria’s anti-corruption agencies, the man suddenly re-appeared, not only in Nigeria, but back in the federal civil service from which he had fled many years before. Despite denials by senior aides and Ministers of the President to the contrary, Maina has (creditably, in many people’s

THE DISTURBING ACCUMULATION OF THE MAINA SAGA, THE OANDO / SEC / MINISTER OF FINANCE EPISODE, THE INNUMERABLE NNPC SCANDALS, AD NAUSEAM, NOW APPEAR TO LEND CREDENCE TO OFT-REPEATED ASSERTIONS THAT THE ANTICIPATED BUHARI ANTI-CORRUPTION REVOLUTION HAS NOT ONLY FAILED TO MATERIALISE, ITS ARROWHEAD APPEARS TO HAVE LOST THE INITIATIVE

opinion---which is itself unfortunate), asserted that the current administration at its most senior levels---including the attorney general of the Federation and the Minister of Internal Affairs, among others---were definitely in the know and facilitated his return and re-absorption into the federal civil service. Not only this: Maina recently made the very weighty allegation that even though President Muhammadu Buhari quickly ordered his firing when news of his strange “rehabilitation� became public knowledge, the president himself--and not just his aides---had knowledge of overtures made to him to return to the country and his subsequent re-emergence in the federal civil service. Till date, no credible counter-point has come forth from the president’s media handlers to undermine Maina’s fingering of Mr. President in the whole sordid saga. This is even more unfortunate, given the reality that President Buhari coasted to office over his opponent / predecessor, Goodluck Jonathan on a wave of anti-corruption and “clean-the-Augean-Stables� sentiments among an animated electorate. Only two years ago... Rather than emerge as the anti-corruption czar, many of his supporters still believe him to be and decisively neutralise the Maina allegations, the president instead took off on ill-disguised re-election campaign trips to Imo and Kano States, while glossing over the fact that like Robert Mugabe, a considerable number of Nigerians (rightly or wrongly, and in the light of his recent extensive hospitalisations outside Nigeria) simply do not believe he still has the physical wherewithal to effectively steer the Nigerian ship of state, not only for the remainder of his present first term in office, but also the second he now appears so eager to clinch. I am one of the numerous Nigerians who widely anticipated and subsequently celebrated Buhari’s emergence as president in 2015. I have advocated for his success ever since---and even taken practical and verifiable steps to ensure just that. I also am not convinced that his recent bouts with illness, which ensured he stayed in London hospitals, and outside Nigeria, for a significant part of the year, definitely signposts the fact that he is no longer medically fit to rule Nigeria.  But the disturbing accumulation of the Abdulrasheed Maina saga, the Oando / SEC / Minister of Finance episode, the innumerable NNPC scandals, ad nauseam, now appear to lend credence to oft-repeated assertions that the anticipated Buhari anti-corruption revolution has not only failed to materialise, its arrowhead appears to have lost the initiative to take Nigeria beyond the quagmire of institutional and leadership credibility that has been the country’s unfortunate lot for as long as one can remember. Just as it was with Zimbabweans and Mugabe in the latter’s waning years.  Soboyede, a former Editor with THISDAY, is a US-based Attorney

THE N10B SOLAR POWER FOR UNIVERSITIES David Samson argues that the money should be used to provide electricity for rural communities

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he federal government’s N10 billion proposal for the electrification of 37 federal universities and seven university teaching hospitals across the country came under intense criticism at the meeting of the Senate Committee on Power, Steel Development and Metallurgy, last week, December 14, 2017. And rightly so.  At the budget hearing, the Managing Director, Rural Electrification Agency, stated that N10 billion has been earmarked for the project, “Rural Electrification Access Programme in Federal Universities.� While the news media indicated that Senator Enyinnaya Abaribe-led Committee was deeply concerned at the insensitive preference of streetlight for universities, amidst several other priority needs begging for government attention, the Ministry of Power, Works and Housing (MPWH) has since come out with a correction stating that the budgeted N10 billion is for a “Rural Electrification Access Programme in Federal Universities� that is expected to “rejuvenate the education system.� I would suggest that the concern by the Chairman of the Senate Committee on Power and his colleagues holds great validity, for the following reasons. First, a review of “Part IX – Rural Electrification� of the Electric Power Sector Reform Act, 2005 (EPSRA) leaves no ambiguity as to its focus on providing electricity to rural dwellers. Indeed, a review of any definition of the word “rural� would indicate a consistency of such areas as being located outside of towns and cities. Thus, the question arises: since when did universities and hospitals, typically located in the heart of cosmopolitan and urban centres, qualify to be considered under the Rural Electrification Agency (REA)’s mandate?  Second, with an estimated 55% of urban areas

currently electrified versus 35% electrification of rural areas, should the N10 billion not be put into the Rural Electrification Fund that is specified under Section 88.12 of the EPSRA to facilitate investment in the electrification of these areas that are typically not commercially viable, due to demographic sparseness and lack of affordability? If we are to address the issues that typically bedevil our rural areas – lack of job creation, poor quality of life, fire, health and environmental challenges from the use of wood burning and kerosene lighting up rural homes, etc., surely, funding the electrification of rural Nigeria holds greater value for the use of this money. The use of the N10 billion, would go a long way towards meeting the following objectives of the Rural Electrification Fund – a) Achieving equitable regional access to electricity; b) Expanding the grid and developing off-grid electrification; c) Providing subsidies for consumption that will stimulate innovative approaches to rural electrification, etc.  Third, implementation of the delivery of solar powered energy to the universities and hospitals, comparatively, is not cheap. On the average, wholesale price of solar energy is N39.9/kWh versus N16.9/kWh for on-grid electricity. This fact is even more important when we take into consideration that fact that some of these institutions receive close to 24 hours of electricity supply, as premium customers, in most of the electricity distribution franchise areas where they are located. In plain terms, why should the Nigerian tax payers be saddled with purchasing a product for over two times the cost of what is readily available to these institutions? If anything, this N10 billion solar power proposal by the ministry seems to be another in the increasingly inexorable march by the federal government back into state-ownership of generation assets (on the

back of the General Electric fast power project that is being funded by the federal government), contrary to the privatisation objectives of the National Electric Power Policy, 2001 (NEPP) and EPSRA. The policy and the law resulted from a recognition that the government, due to decades of inefficiency, wastage of taxpayer funds and corruption, in operating the state-owned electric utility company, Nigerian Electricity Power Authority (NEPA), has no business operating in a sector that should be private sector driven. Unfortunately, here we go again. Fourth, one is not sure how the expenditure of the proposed N10 billion equates to the rejuvenation of the educational system, as stated by the MPWH. I agree that such rejuvenation is critically needed in a nation that has seen a dramatic decline in the quality of the education that its citizens used to enjoy. I would suggest, however, that greater impact for such rejuvenation can be best achieved by investing in paying teachers better salaries, providing academic supplies, re-establishing higher standards of academic excellence, rehabilitating physical infrastructure, etc. – these are the mandate of the Ministry of Education. Additionally, if the objective of the N10 billion initiative is to “rejuvenate the education system,� does the MPWH also plan to subsidise private institutions, for equity and for the achievement of comprehensive results?   Unfortunately, this proposal comes at a time when the power sector is facing critical and strangulating financial challenges to building the capacity for the sustainable electricity supply that will drive the growth of our economy. The liquidity constraint means that the electricity value chain continues to be deprived of the funding needed to inject the efficiency that is desperately needed in the sector. As a matter of fact, the Nigerian Electricity Supply Industry

(NESI) is burdened with a market shortfall that may eventually collapse the sector, without reasonable government intervention. In view of this, I would suggest that the N10 billion can be better and efficiently utilised by the government in expanding the national grid, by building up the capacity of the Transmission Company of Nigeria (TCN), a wholly government-owned company, to wheel energy sustainably and reliably, given its history of being consistently underfunded and its critical role in the value chain. Alternatively, the money could be applied to subsidising the consumption of the lifeline electricity consumers, who struggle with electricity affordability issues, as seed money for the Consumer Power Assistance Fund (CPAF), which still has not be set up, as a fundamental requirement of EPSRA. REA, going outside of its mandate, endangers the hopes of rural dwellers for electricity that will improve their lives and creates opportunity for wastage of funds that are desperately needed for priority projects in the sector. In this era of “Change� as a mantra or common refrain, we must move away from politicised and ill-thought out policies to that which holds the greatest good for greatest number of our citizens.  Thus, it is easy to understand why the Senate Committee on Power, like many Nigerians and major stakeholders in the sector, cannot understand why REA wants to spend a huge amount of money to provide solar power in universities and hospitals when rural communities that require electrification, for which the agency was created, are left in darkness – whether its proposed N10 billion initiative is for street lighting or rejuvenating the educational system.    Samson wrote from Konoko Crescent, Wuse 2, Abuja

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EDITORIAL

TIME TO END JUNGLE JUSTICE Government must discharge its responsibility of protecting lives and property

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hile President Muhammadu Buhari last week warned that a collapse of public conďŹ dence in the justice system would have disastrous consequences for the entire countr y, what he did not say is that many Nigerians are already pay ing the price for that state of affair. On the same day the president spoke, a suspected female kidnapper was ly nched and set ablaze by a mob at Offa in Kwara State. The suspect was reportedly attempting to kidnap a set of t w ins from a school on the pretext that their mother had asked her to take custody of the babies.  Unfortunately, this recourse to savager y which is fast becoming a national pastime is bew ildering as it does not matter the supposed crime being levelled against those caught in the web of this new wave of jungle justice. W hat is however THE POLICE AND worrisome is that THE COURTS MUST a lot of times COLLABORATE TO ENSURE innocent citizens THAT CRIME SUSPECTS are often the ARE GIVEN SPEEDY TRIALS v ictims of these AT THE END OF WHICH mob justice whose THOSE FOUND GUILTY dispensers cannot MUST BE PUNISHED be held accountACCORDING TO LAW able. Just being on a street corner looking a little like someone accused of a crime the day before or even being a victim of witch-hunt could cost one his or her life. We have seen several examples of that across the country in the past few years. From the killing of four innocent undergraduates in Port Harcourt to that of an Ahmadu Bello University Professor, we must do everything to end mob justice.  There are pertinent questions as to what could be responsible for this ugly development: is it a failure of law enforcement? Or signs of a more

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dangerous national ailment? Or is it that human life is no longer sacrosanct in Nigeria? The answer of course is simple. It is a combination of the three. But beyond presidential preachments, the government must carry out its constitutionally stipulated responsibility of protecting lives and property while the courts must be alive to their own responsibilities. The rule of law, as opposed to that of the jungle, presupposes that anybody accused of a crime, however heinous, is entitled to a fair trial before punishment could be meted if found guilty. But as more and more Nigerians shun the instrumentality of the law in the settlement of disputes, many innocent people are getting maimed and killed.  We are not unmindful of the fact that due to its own contradictions, our judiciary does not seem capable of administering impartial justice and many people are gradually losing faith. However, under the rule of law it is the sacred duty of the judiciary to safeguard the rights and liberty of the citizens. Respecting such rights forms the bedrock upon which the society lays claim to civilisation. n all civilised societies, mere suspicion does not constitute an offence or grounds for lynching. Persons accused of any crime are charged to court if not for anything, at least to avoid a miscarriage of justice. And the right to life is the ultimate measure of all rights. It is therefore important that Nigerians rein all impulses to self-help in the dispensation of justice. We therefore bel ieve that the gover n ment shou ld crack dow n on the per pet rators of such hei nous acts to ensu re that on ly the cou r ts ca n g ive a g u i lt y verd ict a nd st ipu late the com mensu rate pu n ish ment. Hav i ng sa id th is, we a re a lso m i nd f u l that cr i m i na ls get away u npu n ished a nd that, i n most instances, provoke the mob. To redress the situation, the police and the courts must collaborate to ensure that crime suspects are given speedy trials at the end of which those found guilty must be punished according to law. That is the only way to end the barbaric regime of jungle justice in Nigeria.

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ATMS’VIGIL IN BENIN CITY

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ew hours to Christmas, residents of Benin City were keeping vigil in the banks to use Automated Teller Machines (ATMs). Few of the ATMs in some banks were dispensing cash. Many of the residents had been in some of the banks as early as 5am.to avoid the crowd that would arrive in the bank premises later. There was concern about the suffering in getting access to the machines which they alleged were not even fed with enough cash for the day. I have read several serious complaints from ATM card holders, about using their cards in Nigeria. The use of ATM cards as an alternative and faster means of withdrawing cash quickly has gained acceptance in Nigeria. Unfortunately, the country’s banking infrastructure and technology have not been able to keep up with the growing ATM demands. Financial institutions’ ATM networks are increasingly susceptible to failure especially in commercial centres, where the use of ATM card is high. The complaints and cries of bank customers over the ills of the ATM cannot be overlooked anymore in light of its raging pains to customers. The first issue that comes to the fore is the efficiency of the ATM in Nigeria. The machine has been notable for gross malfunctioning and seizure of ATM cards. This may partly be due to lack of in-depth technical knowledge of the handlers. For instance, it is common for the ATM to deduct money from one’s

account without actual payment to the owner only to re-credit such account. There is also the “pick� failure which prevents the equipment from dispensing the correct amount of cash. Many banks in Nigeria today do encourage its use despite the associated problems which may not allow account balance in some instance, although those who invented the ATM actually anticipated some problems with its introduction. However, the type of problem being encountered in Nigeria may defer entirely from the ones anticipated in a healthier society. Another problem worth mentioning is the long queues experienced at ATM terminals. As a result of the fear of banks to install their machines within the city, the grossly few available ones have been hosting large number of customers from dawn to dusk. The aim of speedy cash disposal is thus defeated. Irrespective of the long hours spent in queues, some customers end up not being able to access the machines. Such long queues have given birth to further problems like fighting, manoeuvering and lack of privacy in the use of the machine. In addition, the machine has been noted for insufficiency of funds. Most times, the money put in the machine by the management is not usually enough for the large number of customers due to the need to use such money for household needs or business transactions. Nigerian banks have continued to reduce their customers’ payment and ATM limits. . How do I explain the rationale behind

banks in Benin City setting their ATM machines to pay a maximum of N10,000 of N1,000 denomination per transaction as against the N40,000 that was hitherto paid? Imagine the time it will take to withdraw N150,000 if you have to withdraw a maximum of N10,000 per transaction? This reduction in maximum withdrawal per transaction coupled with the fact that most times, one out of four or five ATM machines in the bank is seen dispensing cash, are usually the cause of long queues at ATM machines nationwide. Some of those queues scared me. Other ATM users on the queue are impatient when the man in front of the machine is withdrawing large sum. More worrisome is the security concern of people making such withdrawal. They stand the risk of being trailed and robbed of their money by some people who join the queue pretending to make transaction but only monitoring the withdrawal of other ATM users whom they follow outside the bank on their way home to rob or give out information to their friends outside the premises of the bank to rob. I just don’t understand why we make things difficult for ourselves in Nigeria. It appears, Nigerians love to see fellow Nigerians suffer. It is sad.  If this is CBN policy, the governor of CBN should please reverse it as it does no good to Nigerians. If banks are doing this deliberately probably for profit, then they should be sanctioned by CBN.  Inwalomhe Donald, Benin City

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T H I S D AY FRIDAY DECEMBER 29 2017

T H I S D AY ˾ FRIDAY, DECEMBER 29 2017

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

POLITICS A N A LY S I S

$1b Withdrawal from ECA: FG’s Explanation Untidy For offering incoherent explanation, the federal government should take the blame for the controversy trailing the Nigerian Governors’ Forum’s decision authorising the withdrawal of $1billion from the Excess Crude Account to fight Boko Haram, writes Tobi Soniyi

Fayose, opposed the decision

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hen it comes to making policy announcement, the President Muhammadu Buhari-led administration does not have a good reputation for getting it right. After he was elected president, Buhari would make policy announcements while abroad to the consternation of the people at home. The handling of the appointment of Ibrahim Magu as the Acting Chairman of the Economic and Financial Crimes Commission has been anything but competent. No one should really be surprised that the government of the day has again chose to bungle the handling of the authorisation by the Nigerian Governors’ Forum for the federal government to withdraw $1 billion from the Excess Crude Account (ECA) to fight Boko Haram and now for security generally. When it was first announced, the impression conveyed was to the effect that the money would be used for the fight against Boko Haram exclusively. After the 83rd monthly meeting of the National Economic Council meeting held on December 15, 2017, in Abuja, governors of the 36 states of the federation under the aegis of the Nigerian Governors’ Forum (NGF) gave the federal government the green light to withdraw $1 billion from ECA to fight the insurgency in the North-east. The Governor of Edo State, Mr. Godwin Obaseki, who briefed newsmen after the meeting said the chairman of NGF and Governor of Zamfara State, Abdulaziz Yari, made the offer on behalf of his colleagues during the meeting. Obaseki said the governors mandated the federal government to take the money from

Mohammed, justified the decision

the ECA as their own contribution to the fight against the Boko Haram terrorist group. Obaseki said: “The NEC also resolved through the chairman of NGF to support the effort of the federal government in the area of security. “Pleased with the achievements made by the federal government till date in the fight against the insurgency, the governors of Nigeria through their chairman announced at the NEC meeting that the governors have given permission to the federal government to spend $1 billion in the fight against the insurgency. This money is supposed to be taken from the excess crude account.” However, when Ekiti State governor, Ayo Fayose kicked and others kicked against the decision, the government at the centre sought to widen the scope of the security challenges the money would be used for. Fayose said the ECA had already been overdrawn with barely $2 billion left in it. He also argued that other states across the country had challenges that were nearly as severe as those afflicting the people of northeast. Fayose also said the timing and the circum-

When it was first announced, the impression conveyed was to the effect the the money would be used for the fight against Boko Haram exclusively.

stances surrounding the $1 billion indicate that Mr. Buhari intended to warehouse it for his reelection bid in 2019, saying he was never a part of the discussion to earmark it. The planned withdrawal has also been a subject of political bickering between the ruling All Progressives Congress and the opposition Peoples Democratic Party. While the opposition party alleged attempted fraud on the part of the administration, the ruling party said all governors, including 11 from PDP, approved the fund. While the controversies raged, the Vice President, Prof. Yemi Osinbajo stepped in by providing further explanation about the decision to withdraw the money. Speaking at the retreat of secretaries to the government at state and federal levels in Abuja, Osinabjo said the money was not meant for Boko Haram war alone. “It was on account of the security summit that the governors at the governors’ forum subsequently decided that they would vote a certain sum of money, which has become somewhat controversial, the $1bn, to assist the security architecture of the country. “It was to assist all of the issues in the states, including policing in the states, community policing, all of the different security challenges that we have.” Many consider the explanation that the money would be used to take care of security challenges across the nation as an after thought. Had the government, at the formal announcement, stated that the money would be used to take care of security challenges across the nation, may be some of the controversies would have been avoided. The Minister for Information and Culture, Alhaji Lai Mohammed also had to step in to press home the message.

Like the vice president, the minister said the money would be used not only to fight Boko Haram but to tackle other security challenges including illegal oil bunkering, kidnapping and cattle rustling. The minister also justified the necessity for the fund saying that $1 billion was not too much for the security challenges the country faced. He said: “It is common knowledge that the annual budgetary allocation to the military is not commensurate with the internal security challenges we face, for which we have had to continuously rely on the military to assist the police and the Civil Defence Corps. “When insurgents take over a chunk of our nation’s territory, we turn to the military. When the farmers/herders clash escalate, we turn to the military. When kidnappers up their game, we turn to the military, when illegal bunkerers and pipeline vandals are seeking to overwhelm our oil production and export, we turn to the military, when ethno-religious clashes occur, we turn to the military. “But when it is time to give the military the resources it needs to function, we say it is a waste of scarce resources, we come up with spurious reasons to deny the military its due.” Whipping up patriotism sentiment, the minister described as unpatriotic those criticising the approval of the NGF for the withdrawal of the $1 billion from ECA. Their action, he said, amounted to a disservice to the nation’s service men and women. The minister also described the criticism against the decision to withdraw the money as unnecessary, uninformed and highly-partisan He said: “Just because some people, under a CONT’D ON NEXT PAGE

T H I S D AY ˾ FRIDAY, DECEMBER 29, 2017

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POLITICS

PERSPECTIVE

Against the Odds, Obaseki Pushes on with Reforms Despite internal resistance, Edo State governor, Godwin Obaseki has succeeded in changing his peoples’ perception about governance, Isaac Amiurie reports

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n just over a year, Edo State governor, Godwin Obaseki, has redefined governance in a manner never thought of before now. His ideas on public policy are radically different from the norm and so are his policy drives. There is a common story making the rounds in political circles in Benin, the Edo State capital, these days. It is about how conversations at the gatherings of the ruling All Progressives Congress (APC) have taken on a new texture. It is neither about who gets into what position, nor what amount will be shared at such political gatherings. “More and more, it is either about how one massive road construction would link community A to community B; or how the governor has attracted another new business into Edo State or one new law or policy meant to address critical deficit in governance,” explained a leader of one of the fringe opposition political parties in Edo state, recently. There is no reason to doubt this observation, at least going by the spate of defection from opposition parties to APC between October and November this year, after Obaseki undertook a statewide tour, tagged ‘Thank-you- tour’ to APC voters who put him in power. The visits ended up to be a new political re-orientation strategy meant to wean the teaming Edo populace off the non-progressive politics of old. Rather than making the tour a moneysharing jamboree and an occasion for the outpouring of unctuous stream of unrealisable promises, Obaseki preached a new politics of purpose. For instance, at Ubiaja, Esan South East Local Government Area, Obaseki promised an agricultural processing zone at Ilushin in addition to a vocational centre that will provide the necessary skills for the youths of the area. The skill acquisition center is meant to prepare them for the jobs his administration will provide. This is in addition to the cash rewards to the wards that performed well at the last election. The governor assured them, too, that roads in the council area would not be forgotten, adding, “I have stationed a contractor in Edo Central Senatorial District to ensure that a number of roads are constructed, we are only waiting for the dry season to commence work.” Putting a perspective to the governor’s approach in politics and governance, APC chairman in Igueben, Sunday Iredia, said Obaseki’s administration in the last one year has been more of reforming the way things are done in Edo State. “These are the things that have stimulated the public about Obaseki,” said Iredia. But this reform is not peculiar to politics alone in Edo State. Indeed, the governor’s style of administration has resulted in sweeping reforms in governance architecture. Like he has done in politics, Obaseki’s style of introducing institutional reforms is through the engagement of critical stakeholders; laws and policy enactment; reworking of weakened governance architecture; creation of enforcement agencies; improvement in living standards especially in health and education. In the last one year,

He sees himself as an organiser, a tactician and strategist. He is the ultimate machine in successful political engineering!

Obaseki

Obaseki has introduced an entirely different approach to governance. On laws, policy enactment and enforcement agency creation, for instance, not a few policy wonks would be amazed at the ease with which a new property protection law has been driving investments in Edo State. Before his coming as governor, landed property transactions were mostly mired in skirmishes on account of traditional land holding and tenure system. Even more, land grabbers took advantage of the system to reap off prospective investors under the guise of community development associations (CDAs). But upon assumption of office, Obaseki constituted an anti-CDA task force headed by a former Inspector General of Police, Solomon Arase, Apart from creating the task force, the governor sponsored a bill regulating land acquisition in the state. “The overall result of this has been a marked decrease in land related crimes, land tussles and more investor confidence in setting up in Edo State,” explained Arase. Another enforcement agency revamped by Obaseki is the Edo State Traffic Management Agency (ESTMA). Before for nwo, traffic snarl in the city capital of Edo was nightmarish. But with the creation of the traffic management corps made up of highly trained officers, traffic jam has rapidly begun to ebb. To ensure the continuity and acceptance of the corps, its operation in the state is backed by law, and constant re-orientation is still ongoing for drivers on Edo roads. Still on traffic management, the Edo state government has begun a gradual phase out of mini buses and vans as means of commercial transport in the state. Rather, the state is introducing air conditioned luxury buses to be given to private sector players on loan scheme basis. No better place has institutional reforms in Edo taken root than in the areas of education and health. In education for

instance, Obaseki believes that building an enduring education system must start from the basis. This view aptly summarizes the new thinking in Edo, where investment in any segment of education whether, primary, secondary or tertiary will be geared towards putting the state in sustainable development pathway. The state government commenced schools census exercise, recently. This is to secure reliable data for planning while the inspectorate department is also being revamped. Special Adviser to the Governor on Basic Education and Sole Administrator, State Universal Basic Education Board (SUBEB), Dr. Joan Oviawe, said Obaseki was keen on teacher professional development and data-driven decision-making. “We don’t just do things randomly. We have started taking a census of schools. We want to know the number of schools, pupils, and teachers in the state. After this, we will then know which subject area to focus our recruitment efforts,” explained the aide. She also noted that Obaseki had brought accountability to the system, stressing, “We have a 48-hour deadline to respond to files here. And this happens across different ministries in the state. So, we are being held accountable when things don’t go well,” added Oviawe. The government has said it often that development will continue to be driven by knowledge. “Success is what the individuals can do with their hands,” said the governor, adding that the future would be defined by knowledge and technical expertise. “Edo State cannot be left behind,” he said. The governor’s insight is in sync with recent trends in education, curriculum and man power development strategy. For far too long, stakeholders in the educational system in the country readily put the root of crises in the education sector at the foot of poor funding, inadequate remuneration and broken infrastructures in schools and so on.

While all these might be part of the problems, findings by Profound Learning Institute (PLI), an American think tank on education and manpower development, sees the matter differently. “Rather than throw money at any perceived problem in the education system or fix what is perceived broken in the learning sector, stakeholders must first determine what it wants education to accomplish for them,” explained Tom Rudmik, CEO and co-founder, PLI. On health, the Edo state governor has doubled down on primary health delivery. Going by plans, policies and investments in this critical human development sector, Edo and Obaseki stand apart. For instance, immunisation exercise in Edo has been largely successful because Obaseki leads the campaign. Stories are still rife in Benin, the state capital, of how the governor promised and delivered on financial rewards to communities with the largest turnout for immunisation. Until recently when Obaseki unveiled his plans for Edo, development experts at first wondered why the state governor made a decision to pay more than the usual attention to primary health care delivery in the state. Admittedly, state chief executives often make meaningful investments in hospital constructions, purchase of state-of-the-art clinical equipment or wholesale employment of medical personnel. But Obaseki’s approach is profoundly different. The state governor plans future intervention in his state’s health sector as part of what he calls, Social Welfare Investment (SWI) package; and it is just one out of the interdependent thematic pillars of Edo’s development, namely Institutional Reforms; Economic Development; Environment; Social Welfare; Arts Culture and Tourism. Taken his interest in primary health further, recently, the governor approved health centres in markets. This reaffirmed Obaseki’s commitment to not only curb neonatal deaths, but also work on revamping primary health sector. Under the new policy, the governor approved the establishment of primary health care centres in major markets in the state. “We are prioritising reforms in primary healthcare to address the burden of neonatal mortality. Part of our plans is to rehabilitate and reconstruct at least one primary healthcare centre in each ward across the state by next year. I have also instructed that at least a primary health care centre be sited in every major market, particularly those in the urban centres,” the governor said. Amiurie, a communication expert, wrote in from Benin.

$ 1 B W I T H D R AWA L F R O M E C A : F G ’ S E X P L A N AT I O N U N T I DY different political dispensation, squirrelled away money meant to equip the military in the past does not mean the military should be left to its own devices, or that every allocation to the military will suffer the same fate.” Mohammed said that the All Progressives Congress government is a disciplined government that would not allow allocated funds to end up in private pockets or spent on prayers. He said: “We will always empower the military and other security agencies to be better able to carry out their tough tasks. “The controversy over the approval of 1 billion dollars by the NGF is absolutely unnecessary

and unhelpful.” The minister said $1 billion was not too much for the military to tackle the security challenges facing the country. “Security of lives and property is at the core of the existence of any government, and the NGF understands this quite well, going by its action in approving the withdrawal from the ECA”, he added. According to him, had the military been better equipped to tackle Boko Haram in the early days of the insurgency, thousands of lives, including those of service men and women, could have been saved and that the war could have been

over a long time ago. He also said that if the funds meant to equip the military had not been diverted into private pockets, there might be no need today to withdraw any money from the ECA for that purpose. It is becoming clearer that this government came into power with an attitude to pay little or no regards to public feeling otherwise it would have been proactive in its handling of issues of public interest. The government is simply reactive. Rather than blame those who opposed the withdrawal of the money, the government should look inwards and ask itself if it could

have handled the issue better. This obviously is not the first important policy issue to be mishandled by this administration. It certainly will not be the last. The Office of the Vice President has to issue several statements to state its case in the allegation by the Minister of State for Petroleum Resource, Dr Ibe Kachikwu’s allegation that the Group Managing Director, Dr Maikanti Baru did not follow due process in the awards of contract. The same scenario is playing out again with regard to the plan to withdraw $1 billion from ECA to tackle security challenges.

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T H I S D AY Ëž Ëœ Í°ÍˇËœ Í°ÍŽÍŻÍľ

BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 3.75% 4.33%

CALL 1-MONTH 3-MONTH

4.00% 5.08% 6.25%

D E C E M B E R S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

330.07% 0.41% 0.52%

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

2 2 , S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 1 7

8.03% 21.75%

EXCHANGE RATE N306.25/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes NAHCO MD Meets with Stakeholders

ATTRACTING NEW LISTINGS

(L-R): Shola Alerege of Stanbic IBTC; Usman Kadiri of Nigeria Stock Exchange(NSE); Kemi Owonubi of Rand Merchant Bank; Director General, Bureau of Public Enterprises (BPE), Alex Okoh, Tony Ibeziako of NSE; Technical Assistant to the DG, BPE, Ademola Aofolaju; Sa’ad Abdulsalam of Securities Exchange Commission ( SEC) and Baba Mohammed, Head of Capital Market Unit, BPE, at the presentation of ďŹ nal report by the BPE/SEC Working Group on the attraction of new listings in Abuja ‌. recently

Yuletide: Flight Cancellations, Delays, Frustrate Travellers Chinedu Eze The Christmas holiday has turned gloomy for many air travellers in Nigeria who wish to travel from their place of work to their communities to celebrate with their families. This is because at the end of every year flights to many destinations in Nigeria are cancelled due to Harmattan haze. During this period many airports have visibility below acceptable minimal, which in some airports is 800 meters. Passengers are made to spend many hours beyond their flight time waiting for a possible favourable weather report that would enable the airlines operate their flights. Since December 24 airlines have been finding it extremely difficult to operate to such airports located in Port Harcourt, Enugu, Benin, Asaba, Warri, Akure and others and

AVIATION passengers were left stranded at the airports. THISDAY learnt from the airlines that they do not out rightly cancel flights until report from the Nigeria Meteorological Agency (NIMET) confirm that there would not be acceptable visibility for the day, adding that sometimes while the passengers wait they may get favourable weather report and the flights could operate. According to the Executive Chairman of Airline Operators of Nigeria (AON), Captain Nogie Meggison, the solution to the weather challenges, including Harmattan haze is the installation of Category 3 Instrument Landing System (ILS) at the airports. This category of ILS allows aircraft to land at zero visibility at the airport. There have been efforts to install the equipment

at major airports in the country, according to the Managing Director of the Nigerian Airspace Management Agency (NAMA), Captain Fola Akinkuotu. Currently the Kaduna International Airport has Category 3 ILS and there are plans to install same in Lagos and Abuja, which have high category of the equipment. Nigeria’s major carrier, Medview Airline has previously apologised to its passengers because of flight delays caused by unfavourable weather. “We share your pains for our inability at the material time to fly you to your destinations at the appointed time,� the airline told the passengers. The airline said the safety of passengers and crew come first before any other considerations, and in such situations, delays and rescheduling become inevitable. “We have put the necessary logistics in place to meet our

obligations to our esteemed passengers who have over the years kept faith with us,� the airline said. Also spokesman of Air Peace, which controls over 45 per cent of domestic passenger traffic, Chris Iwarah, told THISDAY that bad weather, which leads to poor visibility, is responsible for most of the delays and sometimes flight cancellation. He added that flight delays are also caused by limited facilities at some airports. For example, at the General Aviation Terminal (GAT) of the Murtala Muhammed International Airport, Lagos, both Arik Air and Air Peace are using only one passenger processing gate each and also using one x-ray machine for each gate. This means that no airline can process two or more flights at the same time. One flight must be processed before Continued on page 20

Operators Fault Customs N1 Trillion 2017 Revenue Claim Eromosele Abiodun Stakeholders in the maritime sector have picked holes in claims by the Nigerian Custom Service (NCS) that it raked in N1trillion revenue in 2017, stressing that most of the assumptions were not correct. The NCS Public Relations Officer, Mr Joseph Attah, had while addressing journalists in Abuja last week, announced that the service recorded its highest revenue collection ever of over N1 trillion as against N770 billion target set for 2017. But some experts, who spoke to THISDAY, said there is an error in the figures, citing foreign exchange differential and the addition of waivers not

MARITIME granted as possible reasons the NCS arrived at the said figure. For Instance, the National President of National Council of Managing Directors of Customs Licensed Agents, (NCMDCLA), Lucky Amiwero said when the increase in foreign exchange is factored in the amount realised by the NCS was far less than they are claiming. According to him, “The problem it has to do with foreign exchange. In 2015 when the naira was exchanging for between N150 to N180 to a dollar, the NCS recorded a revenue of less than N950 billion, the exchange rate contributed to it.

“Also, there is a lot of valuation lifting at the nation’s ports across the country, most of the job attracts extra value which nobody contests. Customs cannot put waivers as revenue collection. Waivers are used to encourage investment and encourage local industry to grow.� Others, who spoke on the condition of anonymity, said the Customs could not have recorded the N1.1 trillion, adding that the numbers were made up for it look like the service was doing very well in revenue collection. Attah had said that the NCS recorded the highest revenue collection ever of N1,012,259,006,779.74 with five

more working days to the end of 2017. “This spectacular performance in revenue collection shows N241,685,276,289.74 over the N770,573,730,490 target for the year and well above the N898,673,857,431.07 collected in 2016. “This is despite the economic recession experienced earlier in the year, with low volume of imports and restriction placed on 41 items from accessing forex. “The Comptroller-General of Customs (CGC), Col. Hameed Ali(rtd), undertook some strategic measures in terms of restructuring and repositioning the service for efficient service Continued on page 20

The Managing Director/CEO of the Nigerian Aviation Handling Company Plc (NAHCO), Mr. Idris Yakubu, has visited key aviation regulators and stakeholders and promised to continue with the synergy between operators and service providers to ensure seamless passenger and cargo facilitation. Yakubu’s ďŹ rst portt of call was the Nigerian Civil Aviation Authority (NCAA) where he met with the Director – General, Capt. Muhtar Usman, who urged the company boss to continue to abide by the rules. Muhtar expressed satisfaction with the way NAHCO had been conducting business around the airports and hoped other operators would emulate the company. On hand to receive Yakubu alongside the DG were the Director of Finance and Accounts, Hajia Bilkisu Adamu Sani and the Director of Operations and Training, Capt Abdullahi Maikano Sidi. On his ďŹ rst visit to the headquarters of the Federal Airports Authority of Nigeria (FAAN) since assuming the mantle of leadership at NAHCO, Mr. Yakubu was received by FAAN’s Managing Director, represented by its Director of Commercial and Business Development, Mr. Abdukadir RaďŹ ndadi, and the Director of Finance and Accounts (DFA), Mrs. Nike Aboderin. The NAHCO boss said the visit aorded him the opportunity to come and say thank you to FAAN, whom he described as NAHCO’s “landlordâ€? for its support to the company. He pledged to sustain and improve on the cordial relationship existing between FAAN and NAHCO adding that NAHCO was a part of FAAN before its excision and eventual privatisation. Yakubu stated that he was positive that the present cordial relationship that exists between the two organisations would be further deepened in a way that value would be added to the two major aviation industry players.

AIB Introduces Mobile App

The Accident Investigation Bureau (AIB) has introduced AIB Mobile Application. The app, the agency said, could easily be accessed with mobile phone and this would enable anyone to read accident reports and reports of other incidents that have taken place in Nigeria’s air transport industry. The Commissioner and CEO of the agency, Akin Olateru said: “Tapping into this, the development of a mobile application is essential to our processes as it extends our relationship with users by providing better access to news and updates, convenience, live reporting by eye witnesses in the event of accidents or incidents. Pictures can be uploaded on the app. This can assist greatly in investigations, faster and easier alternative to web browsing. The app launches immediately thereby providing immediate access “It also has simple, easy to use layout, less data consumption than websites, oine use, instant updates and notiďŹ cations AIB Mobile App as it is called, gives us a new and more convenient way to receive Aircraft Accident Report in real time, thus increasing promotional opportunities with push notiďŹ cations and more which depicts its core objectives of Accident and Incidence investigation reports,â€? he said.

FirstIce-breakingLNGCarrierforMOLNamed The ďŹ rst ice-breaking LNG carrier jointly owned by Mitsui OSK Lines (MOL) and China Cosco Shipping has been named at Daewoo Shipbuilding & Marine Engineering (DSME). The vessel was named the Vladimir Rusanov by Veronika Makeeva of PAO Novatek, the major shareholder of the Yamal LNG project, which the vessel will serve.The ice-class Arc 7 LNG carrier is capable of sailing through sea ice up 2.1 m thick will transport LNG from the Yamal LNG plant at Sabetta on Russia’s Yamal Peninsula to worldwide LNG markets throughout the year. It is also capable of transiting the Northern Sea Route in the summer season.The vessel is due for delivery at the end of December, and will go into service at end March 2018 following ice-trials in the Arctic. The 172,000 cu m capacity is owned 50 – 50 by MOL and Cosco.

“National Hajj Commission should give priority to indigenous carriers over foreign operators to create employment opportunities for Nigerians� Managing Director of Medview Airline,

Alhaji Muneer Bankole

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BUSINESSWORLD YULETIDE: FLIGHT CANCELLATIONS, DELAYS, FRUSTRATE TRAVELLERS another and this causes delays. THISDAY also learnt that fares to Eastern, South West and South South part of the country are higher than other destinations because these areas are recording upsurge in passenger movement. “Travellers should also know that airport facilities are completely overstretched. Government may be doing its best but these facilities are overstretched due to passenger upsurge. We used to notice these limitations in the past but high passenger movement has made it very obvious and this contributes to flight delays,� Iwarah said. Spokesman of Dana Air, Kingsley Ezenwa told THISDAY that many of the airline’s flights have not been disrupted by weather, saying the airline has experienced slight delay in some of its flights. OPERATORS FAULT CUSTOMS N1 TRILLION 2017 REVENUE CLAIM delivery which resulted in this historic revenue figure from the service this year,� Attah said. He said that for Ali to achieve this feat, he took some measures like strategic redeployment of officers, retraining of the operatives of Customs Intelligence Unit were done, among others. Attah said that the NCS strived to deliver, adding that sometimes even at the risk of sustaining serious injuries or even death. “Sadly in the process of enforcing the laws, six officers fell in the line of duty this year,’’ the spokesman said. He said that the Customs boss had directed sustained onslaught against smugglers, especially at this festive period. Attah, however, noted that in the spirit of the season, all stakeholders were enjoined to reflect on the value of patriotism and resolved to avoid all forms of smuggling. “It is clear that given the right leadership and better support from Nigerians, NCS will continue to play a more pivotal role in the security and economic well-being of the nation, � he said.

th Group Business Editor

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

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) ÔÓÙĂ?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Nation’s Capital) ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ (Money Mkt) Reporters

Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? Ě™ Ă™Ă˜Ă?ĂŁ Ă‹ĂœĂ•Ă?Þ̚ Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? Ě™ ËÚÓÞËÖ Ă‹ĂœĂ•Ă?Þ̚

NEWS

‘Why African Airlines Pay Higher Insurance Premium’ Chinedu Eze The Managing Director, Ethiopia Airlines International Operations, Mr. Esayas WoldeMariam has explained why African airlines pay higher insurance premium than their counterparts in other parts of the world, especially Europe, the Americas and others parts of Asia. WoldeMariam attributed the high insurance premium to low capacity of most airlines in the region and the inability to build a high standard of safety among the operators in the region. “Insurance companies are always there assessing their own risk, so risk assessment is based on the past experiences, safety standard and what have you. So, for any African operator to have a palatable insurance expense, we Africans need to build our capability of safety records by way of safety assessment, safety avoidance, accident predictions and our aviation facilities and our safety equipment, which are expected to be of world standard. “Once African airlines are able to achieve these standards, then insurance companies will be comfortable to cover aircraft with acceptable insurance premium and that is exactly what Ethiopian Airlines is doing. This is because the

safety area of aviation is over regulated. There are Safety Audit Offering Airlines (SAOA), EASA (European Aviation Safety Agency), the US Federal Aviation Administration (FAA) and the International Civil Aviation Organisation (ICAO), which are regulating safety of flight operations,� he said. WoldeMariam said all these agencies come every year to

Ethiopia to audit the airline. “They review our facilities and renew our safety licenses every year. And that does not come easily because we have to live safety every day. It is not only for the audit purpose which we conduct once in a year but we just have to live it. So it all boils down to meeting the safety requirements because aviation is something very, very

safety orientated. Because once the aircraft leaves the ground it needs to land back safely with all the souls it is carrying. So it is for a purpose that safety is being given a big emphasis. Therefore, insurance evaluation depends on our safety capabilities and safety records, the better it is, the lower we pay. So all what we need to do is safety oversight, trainings and

our aviation academy gives a lot of training as far as aviation safety and cargo logistic are concerned especially for African students,� he said. He added that the airline has discounted price for African students from everywhere in Africa in its aviation academy, noting that the airline has more aviation professionals who trained in the school.

BANK AUDITORS MEET

L-R: Second Vice Chairman, Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), Uduak Udoh; Deputy Managing Director, Diamond Bank Plc, Caroline Anyanwu; Chairman, ACAEBIN, Abiodun Aderoju; Chairman, Research & Publications SubCommittee , Chinwe Basil-Ezegbu; Chief Audit Executive, Diamond Bank Plc, Kabir Garba, and Chairman, Payment & Systems SubCommittee, ACAEBIN, Bolaji Ajao, at the 38th quarterly general meeting of the association held in Lagos‌recently

NBS: Nigeria Spent N157bn on Vehicles, Aircraft Parts,Vessels Importation Eromosele Abiodun Foreign Trade Statistics for the third quarter(Q3) 2017 released by the National Bureau Statistics( NBS) has revealed that Nigeria spent a total of N157 billion on the importation of vehicles, aircrafts parts and vessels. This represent an increase of 17.7 per cent from the N133.4 billion the country spent in the same period of 2016. An analysis of the report showed that the country spent N34.55 billion on used vehicles and vehicles with diesel and semi diesel engine of cylinder capacities, while N23.9 billion was spent on imported motorcycles, Completely Knocked

Down(CKD) by established manufacturers. The federal government had begun implementation of zero duty and value added tax (VAT) payment on the importation of commercial airplanes and spare parts. The new move by the government is part of the intervention efforts to lessen the cost burden that domestic operators bear as well as ensure safe flight operations. The gesture has, however, been extended specifically to commercial aircraft operators and not private jet operators, who are required to pay for luxury taxes. The NBS stated that the country’s trade balance in Q3

2017 amounted to N1.225 trillion, due to a continued value increase in exports and a decline in imports. According to NBS, Q3 figure more than doubled the value in the previous quarter and it is the first time that trade balance exceeds N1 trillion since the last quarter of 2014. The report noted that exports in the review quarter was still oil dependent, as crude oil exports was N2.972 trillion and remained the major, accounting for 83.17 per cent. Crude oil exports, the report added, grew faster than noncrude oil exports as crude oil exports accounted for 78.18 per cent in the second quarter of 2017, while non-oil products only

contributed to 3.54 per cent of total exports in the quarter. Continuing, the report said: “Nigeria’s imports trade stood at N2.349 trillion in Q3 of 2017, among which N648.83 billion, while imports were machinery and transport equipment, representing 27.63 per cent of total import and N602.89 billion imports were mineral fuel, representing 25.67 per cent. “The value for the first category stated above in total imports increased by 20.59 percent while the second one decreased by 14.78 per cent from the previous quarter. Machinery and transport equipment also replaced Mineral products as the top imported products in the reviewing quarter.�

Chairman of Airline Operators of Nigeria (AON) Noggie Meggison had, while commenting on the implementation of the zero duty, lauded the federal government for acknowledging the importance of aviation, as one of the key drivers of economy and its critical role of making Nigeria the pivot of air transportation in Africa. Meggison noted that the unprecedented move was a welcome development and a strong testament of the commitment of President Muhammadu Buhari to making good on his promise to work assiduously to ensure that aviation does not go out of the reach of the common man by giving it the attention it deserves.

AVCA: Currency, Commodity Price Volatility Most Important Macro Factors uncertainty: How private equity political risk management when tribute to the industry’s overall the need for hard currency by Nosa Alekhuogie

A report by the African Private Equity and Venture Capital Association (AVCA) has revealed that 63 per cent of fund managers in Africa view currency and commodity price volatility as having been the most important macro factors in the continent. However, 45 per cent consider geopolitical risk to be the biggest macro risk over the next three years. The inaugural edition of the AVCA special research reports titled: “Volatility and

in Africa navigates through turbulent times,� explores how the African private equity (PE) industry remains resilient amidst currency volatility and unpredictable political environments. The report examined the strategies adopted by fund managers active on the continent to address the risks and take advantage of the opportunities involved, despite the hurdles presented by challenging macroeconomic conditions. “As a result, two thirds of fund managers will factor in

constructing their portfolios, combining diversification and the avoidance of risky locations to mitigate potential challenges. This is in the context of relatively low fund mangers’ interest in purchasing political risk insurance,�it stated. The AVCA’s research also highlighted that currency volatility can be addressed by investing in market-leaders in resilient sectors, such as Consumer Staples and Healthcare, and adopting expansionary strategies. It added: “These tactics con-

health and growing reputation as robust even when faced with sustained headwinds.� By showcasing case studies that illustrate the various ways in which fund managers have planned for and reacted to currency volatility in Africa, the report further demonstrates that foreign exchange volatility can be weathered by focusing on the quality of business operations, expanding revenue streams, passing increased costs on to consumers, and reducing

sourcing inputs locally. Commenting on the new research report, Founder, Adenia Partners, and Member of the AVCA Board, Antoine Delaporte said: “ We are delighted to provide crucial insights at a time when the private equity industry continues to prove its adaptability in the face of sometimes challenging conditions. No doubt, Africa is on a long-term upward trajectory in its development of business environments that are more favourable to investment.

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NIMASA to Release Nigeria Maritime Industry Forecast in Q1 of 2018 Eromosele Abiodun As part of the initiative to reposition the maritime sector for greater efficiency in line with International best practices, the Nigerian Maritime Administration and Safety Agency (NIMASA) will release the empirical forecast that will determine the outlook of the industry in Nigeria by the first quarter (Q1) of 2018. The Director General of NIMASA Dr. Dakuku Peterside, who disclosed this in Lagos recently, stated that the Nigeria forecast would deal with how developments on the international scene will affect the industry in Nigeria, which will also serve as a guide for investors and Stakeholders in the maritime sector. Peterside noted that the forecast will be released from a holistic perspective in order to know areas of advantage that will be of immense benefit to stakeholders and industry players, both locally and internationally. In his words: “On the positive side it will look at where the opportunities will be in the year 2018 & 2019; will greater investment in oil and gas translate to more demand for offshore support vessels? What are the industry perspectives? What

government and her agencies should do to attract more investment in the industry amongst other salient issues.� Furthermore, the NIMASA boss noted that the maritime industry forecast will also look at whether there will be improvement in maritime security especially in the Niger Delta and what impact it will have on shipping. The forecast, he added, is expected impact NIMASA’s partnership with the Nigerian Content Development Monitoring Board (NCDMB) on Cabotage implementation while international shipping will be another area the forecast will focus on. He said the forecast will look at the various projected impact of shift to digital shipping in Nigeria and its attendant effect on Nigerian shippers will also be analysed in details. Peterside also noted that the maritime forecast will look at the impact of global emphasis on Blue Economy and how Nigerians can benefit from it. In the area of capacity building, he pointed out that the effect on the industry will be considered as two new specialised Universities; Nigerian Maritime University, Okerenkoko and the Admiralty University are expected to begin academic

calender next year, in addition to an already repositioned Maritime Academy of Nigeria (MAN), Oron. “Other areas of focus in then forecast include: the government decision on investment status in port and maritime infrastructure, the impact of emphasis on reduction on environmental footprint arising from shipping. “From the regulatory perspective it will also consider the impact on coming into force of the Ballast Water Management Convention, International Maritime Dangerous Goods (IMDG) mandatory compliance, among other conventions and regulations. The most likely impact of greater safety compliance enforcement by the Maritime administration of Nigeria will also be on the front burner in the report, “ he said. On the market side, Peterside posited that it will analyze how demand and supply will evolve in the industry. “This report will be the most informative documentation on the future of the maritime industry in Nigeria. The 2018 Nigerian maritime industry forecast is a set of predictions based on study of trends and patterns and it is intended to serve as a guide for investors and stakeholders in the industry,� he said.

NBC Vows to Clamp Down on Stations Airing Hate Speeches Hammed Shittu in Ilorin. As the 2019 general election draws nearer, the National Broadcasting Commission (NBC) has warned broadcasting stations in the country against airing hate speeches. The NBC, however, said that, stiff penalty like the closure awaits any radio and television station that indulge in such act. The Director General of NBC, Mallam Modibbo Ishaq Kawu gave the warning in Ilorin, Kwara State while featuring on “ Media Parliament� organised by the Kwara State Council of the Nigeria Union of journalists( NUJ). Kawu said that the agency will not hesitate to clamp down on any broadcasting station

that violates the ethics of broadcasting. The programme was with the theme : � Digitization of Broadcast: The Place of Nigeria.� The NBC boss condemned the rampant cases of hate speeches and campaigns by some media organisations, adding that, “NBC is committed to engendering national peace and unity through broacsting.� He disclosed plans by NBC to carry out a digital mapping of the country in January, 2018. According to him, the agency has engaged the services of a foreign firm to carry out the exercise. Kawu said the commission was working hard to create national digital economy,

adding that four more states would be switched over in January, next year. According to him, Nigeria is doing well in its digital switch over (DSO)process among other countries in the African continent. The DG explained that the DSO would assist in entrenching growth of the economy and create job opportunities for the teeming youths. Kawu added that the DSO would strengthen the nation’s democracy and free press in the country. Earlier, the State Chairman of NUJ, Comrade Biodun Abdulkareem had explained that the Media Parliament was to provide platform for journalists to interact with guests on topical issues.

Malas Foods Marks 25th Anniversary in Lagos Malas Foods, a foremost catering service company in Nigeria, recently celebrated its 25 years of operation in rendering premium catering services to esteemed customers. The event, which took place in Lagos, witnessed the attendance of the media and many government, business and corporate personalities. According to the Chief Executive Officer (CEO) of Malas Foods, Mrs. Morenike

Okupe, the company decided to organise a ‘Thanksgiving Service’ to appreciate God for his faithfulness in keeping the company in operation for 25 years, even with all the turbulence in the business environment. She said: “We are not just celebrating the number of years of being in business, but also for delivering world class catering services to our customers. And as you can

see most of our customers are here to testify to the quality of our delivery. So, we are showing gratitude to God and also celebrating the privilege of satisfying our customers� Reflecting to when she started the business she said: “I cannot stop thanking God because at the beginning I never knew things will turn out to be this great. It was so challenging and difficult.

RISK MANAGEMENT WATCH Robert Mbonu

The Fuel Debacle – In Need Of An Enterprise Wide Solution

G

overnments all over the world face a seemingly ever-increasing array of risks that may significantly afĂ?Ă?Ă?Ăž ÞÒĂ?Ă“Ăœ Ă™ĂŒĂ”Ă?Ă?ÞÓà Ă?Ă?Ëœ Ă‹Ă˜ĂŽ Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ to deliver on key mandates and promises – no region is uniquely different in this regards. What stands successful and popular governments apart is how they prioritize and manage key strategic imperaÞÓà Ă?Ă?Ë› Ă‹Ă˜ĂŁ Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă? ÞÒĂ?Ă“Ăœ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ Ă‹Ă˜ĂŽ management of strategic risks by embracing Ă‹Ă˜ Ă?Ă˜ĂžĂ?ĂœĂšĂœĂ“Ă?Ă?Ě‹ĂĄĂ“ĂŽĂ? ĂœĂ“Ă?Ă• Ùà Ă?ĂœĂ?Ă“Ă‘Ă’Ăž Ă‹ĂšĂšĂœĂ™Ă‹Ă?Ă’Ëœ driven by technology. Ă™Ăœ ÞÒĂ? Ă?Ă˜ĂžĂ?ĂœĂšĂœĂ“Ă?Ă?Ě‹ĂĄĂ“ĂŽĂ? ĂœĂ“Ă?Ă• Ùà Ă?ĂœĂ?Ă“Ă‘Ă’Ăž ÞÙ ĂŒĂ? Ă?Ă?Ă?Ă?Ă?ÞÓà Ă?Ëœ Ă‹Ă?ĂžĂ“Ă™Ă˜Ă? Ă—Ă&#x;Ă?Ăž ĂŒĂ? ÞËÕĂ?Ă˜ ÞÙ ×Ùà Ă? Ă?ĂœĂ™Ă— Ă‹ Ă?Ă‹Ă?Ă&#x;Ă‹Ă–Ëœ Ă‹ĂŽ Ă’Ă™Ă? ĂĄĂ‹ĂŁ Ă™Ă? ĂžĂ’Ă“Ă˜Ă•Ă“Ă˜Ă‘ ÞÙ Ă‹ Ă?ĂžĂœĂ&#x;Ă?ĂžĂ&#x;ĂœĂ?ĂŽ Ă‹Ă˜ĂŽ Ă?âÚÖÓĂ?Ă“Ăž Ă?Ă?Ăž Ă™Ă? ĂœĂ“Ă?Ă• Ă“ĂŽĂ?Ă˜ĂžĂ“Ă?Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ assessment and monitoring processes. The nagging petrol scarcity across the country should be of major concern to the government because it affects every citizen. Ă“Ă•Ă? Ă?Ă–Ă?Ă?ĂžĂœĂ“Ă?Ă“ĂžĂŁËœ ĂšĂ?ĂžĂœĂ™Ă– Ă“Ă? Ă‹ Ă˜Ă?Ă?Ă?Ă?Ă?ÓÞã˛ Ăž Ă?Ă˜Ă‹ĂŒĂ–Ă?Ă? transportation and movement of people Ă‹Ă˜ĂŽ ÑÙÙÎĂ?Ë› Ă“Ă Ă?Ă˜ Ă“ĂžĂ? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ă?Ă?Ëœ ĂšĂ?ĂžĂœĂ™Ă– availability at retail distribution stations is a core responsibility of government and ĂšĂ?ĂžĂœĂ™Ă–Ă?Ă&#x;Ă— Ă—Ă‹ĂœĂ•Ă?ĂžĂ?ĂœĂ?Ë› Ă˜ĂŁ Ă?Ă’Ă™ĂœĂžĂ‹Ă‘Ă? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂœĂ‹Ă˜Ă• Ă’Ă“Ă‘Ă’ Ă‹Ă? Ă‹ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘Ă“Ă? ĂœĂ“Ă?Ă• Ă?Ă™Ăœ ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜ĂžËœ and will require that a drastic and deliberate solution be put in place. Various reasons have been attributed as the cause of the problem ranging from the Ă“Ă˜Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ Ă™Ă? ÞÙ Ă?ĂœĂ?Ă‹ĂžĂ? Ă‹ ĂĄĂ“Ă˜ĂŽĂ™ĂĄ Ă?Ă™Ăœ ĂšĂœĂ“Ă Ă‹ĂžĂ? Ă“Ă—ĂšĂ™ĂœĂžĂ?ĂœĂ? ÞÙ Ă“Ă—ĂšĂ™ĂœĂž ĂšĂ?ĂžĂœĂ™Ă–Ëœ ÞÙ Ă‹Ă˜ importation gap caused by the landing cost margin of N171 per litre and the selling cost pegged at N145 per litre. Shortage of foreign exchange and increase in crude prices have made it unprofitable to import petrol and sell same at N145 per litre. Private importers have backed out because the increase in crude price has made the landing cost high. The result is that importation of ĂšĂ?ĂžĂœĂ™Ă– Ă“Ă? ĂŒĂ?Ă“Ă˜Ă‘ Ă’Ă‹Ă˜ĂŽĂ–Ă?ĂŽËœ Ă‹Ă–Ă—Ă™Ă?Ăž ͚͸͸ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž ĂŒĂŁ Ë› Ă’Ă?ĂœĂ? Ă“Ă? Ă‹Ă–Ă?Ă™ ÞÒĂ? Ă“Ă?Ă?Ă&#x;Ă? Ă™Ă? Ă’Ă&#x;Ă‘Ă? ĂŽĂ?ĂŒĂžĂ? Ă™Ă? Ùà Ă?Ăœ ΀͸͸ ĂŒĂ“Ă–Ă–Ă“Ă™Ă˜ ÙåĂ?ĂŽ ÞÒĂ? ÙÚĂ?ĂœĂ‹ĂžĂ™ĂœĂ? ĂŒĂŁ Ë› The issues involved in fuel refining and/or importation and distribution are multifaceted. Ă’Ă? ÚÖËãĂ?ĂœĂ? Ă“Ă˜Ă Ă™Ă–Ă Ă? ÙÓÖ Ă—Ă‹ĂœĂ•Ă?ĂžĂ?ĂœĂ?Ëœ ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ă—Ă“Ă˜Ă“Ă?ĂžĂœĂ“Ă?Ă?Ëœ ĂŽĂ?ĂšĂ‹ĂœĂžĂ—Ă?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ Ă‹Ă‘Ă?Ă˜Ă?Ă“Ă?Ă? Ě™ ËŞĂ?Ěš Ă“Ă˜Ă?Ă–Ă&#x;ĂŽĂ“Ă˜Ă‘ Ă?ĂžĂœĂ™Ă–Ă?Ă&#x;Ă—Ëœ Ă‹ĂŒĂ™Ă&#x;ĂœËœ Ă‹Ă˜ĂŽ Ă?ĂžĂ?Ë› Ă™Ă˜Ă? ÞÒĂ? Ă–Ă?Ă?Ă?Ëœ Ă“Ăž Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? ĂœĂ?Ă?Ă™Ă‘Ă˜Ă“Ă¤Ă?ĂŽ that such a complex system involving the input of different players comes with inherent risks. With an understanding Ă™Ă? ÞÒĂ?Ă?Ă? Ă?Ù×ÚÖĂ?âÓÞÓĂ?Ă?Ëœ Ă‹Ă˜ Ă?Ă˜ĂžĂ?ĂœĂšĂœĂ“Ă?Ă? wide solution within a well-designed Ă?ĂœĂ‹Ă—Ă?ĂĄĂ™ĂœĂ• Ě™Ă&#x;Ă?Ă“Ă˜Ă‘ ĂšĂœĂ“Ă˜Ă?ÓÚÖĂ?Ă?Ěš ĂĄĂ“Ă–Ă– be required. This will ensure a holistic approach to solving the problem in a sustainable manner. It appears that the downstream oil industry which is saddled with the important role of fuel distribution has ĂŒĂ?Ă?Ă˜ Ă?ÖÙå ÞÙ Ă?Ă—ĂŒĂœĂ‹Ă?Ă? Ă?Ă™Ă˜Ă?Ă?ÚÞĂ?Ë› Ă?ĂŽ tape and a status quo mentality seem to hang over the entire industry when it comes to risk management. This has to change if this perennial problem of scarcity must be solved. Ă?Ă™Ă™ĂœĂŽĂ“Ă˜Ă‹ĂžĂ“Ă˜Ă‘ Ă&#x;Ă˜Ă“Ăž åÓÞÒ ÞÒĂ? ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă“ĂŒĂ“Ă–Ă“ĂžĂŁ of ensuring petrol availability to retail outlets nationwide should be set up. This unit will be assigned the role of Risk Owners. This is one first major milestone to be reached. Defining who is responsible for handling certain risks is key. It must be clear who is responsible for

being a risk owner of a certain area. The unit will also provide a strong tone at the top. If managers see their administrators accepting ĂœĂ“Ă?Ă• Ă™ĂĄĂ˜Ă?ĂœĂ?Ă’Ă“Ăš ĂœĂ™Ă–Ă?Ă? Ă‹Ă˜ĂŽ Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă‹ ĂšĂœĂ“Ă™ĂœĂ“ĂžĂŁËœ then it would become important to them as well. By taking this first step of assigning risk Ă™ĂĄĂ˜Ă?ĂœĂ?Ëœ ĂŒĂ™ĂžĂ’ Ă—Ă‹Ă˜Ă‹Ă‘Ă?ĂœĂ? Ă‹Ă˜ĂŽ Ă‹ĂŽĂ—Ă“Ă˜Ă“Ă?ĂžĂœĂ‹ĂžĂ™ĂœĂ? will be able to get on the same page about ĂĄĂ’Ă‹Ăž ĂœĂ“Ă?Ă•Ă? ÞÒĂ? Ă?Ă˜ĂžĂ“ĂœĂ? Ă?ĂŁĂ?ĂžĂ?Ă— Ă?Ă‹Ă?Ă?Ă?Ëœ ĂĄĂ’Ă™ Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă“ĂŒĂ–Ă? Ă?Ă™Ăœ Ă’Ă‹Ă˜ĂŽĂ–Ă“Ă˜Ă‘ Ă?Ă‹Ă?Ă’ ĂœĂ“Ă?Ă•Ëœ Ă‹Ă˜ĂŽ how it could affect the strategic mandate of petrol availability. Risks must be prioritized. The complexities Ă™Ă? Ă‹Ă˜ĂŁ Ă–Ă‹ĂœĂ‘Ă? Ă?Ă&#x;Ă?Ă– Ă“Ă—ĂšĂ™ĂœĂžĂ‹ĂžĂ“Ă™Ă˜Ëœ Ă?ĂžĂ™ĂœĂ‹Ă‘Ă? Ă‹Ă˜ĂŽ ĂŽĂ“Ă?ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ“Ă™Ă˜ Ă?ĂŁĂ?ĂžĂ?Ă—Ëœ Ă—Ă‹Ă•Ă? ĂšĂœĂ“Ă™ĂœĂ“ĂžĂ“Ă¤Ă“Ă˜Ă‘ ĂœĂ“Ă?Ă•Ă? Ă?Ă?Ă?Ă?Ă˜ĂžĂ“Ă‹Ă–Ëœ Ă?Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă–ĂŁ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă?Ă Ă?ĂœĂŁĂ™Ă˜Ă? ĂžĂ’Ă“Ă˜Ă•Ă? that their risks are the most important. This is why it is so important that this process is driven from the top. It will be easier to see which risks were most prominent at an enterprise-wide level. This is important to apportion effort and resources so that Ă‹ ËŤĂ?Ă–ĂŁ Ă“Ă?Ă˜ËŞĂž Ă?åËÞÞĂ?ĂŽ åÓÞÒ Ă‹ Ă’Ă‹Ă—Ă—Ă?ĂœË›ËŹ Ă’Ă?Ă‹Ăž map - which is a risk management tool that measures likelihood and impact of risks can be used to do this. Involve experienced hands at the coordinating unit. The government may want to consider appointing a board of trustees with explicit responsibility for risk management leadership. The head will lead the development of structured processes related to risk. The unit will coordinate the risk thinking so that senior management of the various operators and ÞÒĂ? ĂŒĂ™Ă‹ĂœĂŽ Ă™Ă? ĂŽĂ“ĂœĂ?Ă?ĂžĂ™ĂœĂ? Ă™ĂŒĂžĂ‹Ă“Ă˜ Ă‹ ĂžĂ™ĂšĚ‹ĂŽĂ™ĂĄĂ˜Ëœ enterprise view of the portfolio of risks on the horizon for the system. They can also push the operators to do more when it comes to risk management and hold it to the same standards stockholders expect of manageĂ—Ă?Ă˜Ăž Ă?Ă™Ăœ ĂšĂ&#x;ĂŒĂ–Ă“Ă?Ă‹Ă–Ă–ĂŁ Ă’Ă?Ă–ĂŽ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă?Ë› ÙåĂ?Ă Ă?ĂœËœ the board must be very careful not to cross into micromanaging risks and preventing the operators from taking operational risks for potential gains.

×ÚÖĂ?Ă—Ă?Ă˜ĂžĂ“Ă˜Ă‘ Ă‹Ă˜ ĂšĂœĂ™Ă?Ă?Ă?Ă? Ă‹Ă?ĂœĂ™Ă?Ă? Ă?Ă&#x;Ă?Ă’ a wide system is a daunting task and it is tempting to cut corners or to attempt to move fast in order to get a robust process Ă—Ă™Ă Ă“Ă˜Ă‘ Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁË› ÙåĂ?Ă Ă?ĂœËœ Ă‘Ă&#x;Ă“ĂŽĂ?ĂŽ Ă?ĂžĂ?ĂšĂ? ĂŒĂŁ Ă‹Ă˜ ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜Ă‹Ă– Ă˜Ă?Ă?ĂŽĂ? ÞÙ ĂŒĂ? ÞËÕĂ?Ă˜ ÞÙ Ă?Ă˜Ă?Ă&#x;ĂœĂ? that each step is fully completed and done correctly before moving onto the next step. Government leaders and senior executives may benefit from an honest assessment of the efficacy of our current approach to managing ÞÒĂ? ĂšĂ?ĂžĂœĂ™Ă– Ă?Ă“ĂžĂ&#x;Ă‹ĂžĂ“Ă™Ă˜Ë› Ă™Ă?Ăž ËŞĂ? Ă’Ă‹Ă Ă? Ă—Ă‹Ă˜Ă‹Ă‘Ă?ĂŽ risks for decades but generally implement risk oversight using a siloed risk management approach whereby different functions manage specific types of risks with little coordination among silos. Given the expectations and the demands Ă?ĂœĂ™Ă— Ă?ÓÞÓäĂ?Ă˜Ă? Ă™Ă˜ ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜ĂžËœ Ă“Ăž Ă“Ă? Ă?Ă–Ă?Ă‹Ăœ ÞÒËÞ status quo risk management will likely lead to failure and significant missed opportunities to make a desired impact. Ëž ĂŒĂ™Ă˜Ă&#x;Ëœ Ëœ Ëœ Ě™ ĚšËœ Ëœ Ě™ ĂžĂ?ĂœĂ˜Ěš Ë› ĂžĂ&#x;ĂŽĂ“Ă?ĂŽ Ă˜Ă‘Ă“Ă˜Ă?Ă?ĂœĂ“Ă˜Ă‘Ëœ Ă“Ă? Ă‹Ă˜ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă?ĂŽ Ă‹Ă˜Ă•Ă?Ăœ Ă‹Ă˜ĂŽ Ă˜ĂžĂ?ĂœĂšĂœĂ“Ă?Ă? Ă“Ă?Ă• Ă‹Ă˜Ă‹Ă‘Ă?Ă—Ă?Ă˜Ăž ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜Ă‹Ă–Ë› Ă‹ĂœĂ˜Ă?ĂŽ Ă‹ ÚÙĂ?Ăž Ă‘ĂœĂ‹ĂŽĂ&#x;Ă‹ĂžĂ? ĂŽĂ?Ă‘ĂœĂ?Ă? Ă“Ă˜ Ă“Ă?Ă• Ă‹Ă˜Ă‹Ă‘Ă?Ă—Ă?Ă˜Ăž Ă?ĂœĂ™Ă— Ă?ĂĄ Ă™ĂœĂ• Ă˜Ă“Ă Ă?ĂœĂ?Ă“ĂžĂŁËœ ĂžĂ?ĂœĂ˜ Ă?ÒÙÙÖ Ă™Ă? Ă&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ë› Ă—Ă?Ă—ĂŒĂ?Ăœ Ă™Ă? ÞÒĂ? Ă˜Ă?ÞÓÞĂ&#x;ĂžĂ? Ă™Ă? Ă“Ă?Ă• Ă‹Ă˜Ă‹Ă‘Ă?Ă—Ă?Ă˜ĂžËœ Ă‹Ă˜ĂŽ Ă“Ă? ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ–ĂŁ ÞÒĂ? Ă?Ă‘Ă“Ă™Ă˜Ă‹Ă– ĂœĂ™Ă&#x;Ăš Ă’Ă‹Ă“Ăœ Ă?Ă™Ăœ Ă“Ă‘Ă?ĂœĂ“Ă‹

T H I S D AY Ëž Ëœ Í°ÍˇËœ Í°ÍŽÍŻÍľ

22

BUSINESSWORLD

AVIATION

AIR WATCH

Air Peace Acquires another Boeing B737 on Christmas Eve Chinedu Eze One of Nigeria’s leading carriers, Air Peace got a big boost on Christmas eve with the delivery of one of its newly acquired aircraft, a Boeing B737-300. The airline said the aircraft touched down at the Murtala Muhammed Airport, Lagos at about 6.30 pm, Sunday. The aircraft which was flown in by Capt. Ikechukwu Paul Ugochukwu and his team. This is the the third Boeing 737 Air Peace has received this year alone. Air Peace took delivery of two additional Boeing 737 aircraft on February 21 and June 16 respectively. The airline recently acquired six Embraer 145, a couple of Boeing 737 and two Boeing 777 to bring its fleet size to 24 aircraft to drive its mas-

sive domestic, regional and international expansion project. Speaking on the delivery of the new aircraft marked 5N-BUK and named Mathias Eburuo Onyema, Air Peace Chairman/ Chief Executive Officer, Mr. Allen Onyema said it was evidence of the seriousness of the airline’s pledge to deepen air connectivity in Nigeria and the West Coast of Africa as well as make a difference on the international aviation scenes. An elated Onyema assured stakeholders that the new aircraft would boost the carrier’s effort to sustain its on-time reputation, especially during the Yuletide operations. The airline, he said, was set to commence flight operations to Yola and Kano to open up the economy of the North of Nigeria and address its air

transport challenges. Air Peace, said would soon announce a new date for the launch of its Freetown, Banjul and Dakar services, which were initially fixed for December 15 but had to be called off at the last minute due to the industrial unrest by Dakar Air Traffic Control. He added that the airline would shortly take delivery of the two Boeing 777 aircraft it recently acquired for its Dubai, London, Houston, Guangzhou-China, Mumbai and Johannesburg routes. He thanked air travellers for supporting Air Peace in the last three years of its existence to become the leader of Nigeria’s aviation industry, assuring that the airline would continue to prioritise their safety and comfort.

Dana Launches New Product, Appreciates Travel Agents Dana Air has launched the Dana Air Smart Sale to encourage its guests to book early, plan their trips and get smart fares on their roundtrip booking on all its existing routes from December 26 to February 28, 2018. The airline also celebrated and appreciated the efforts of travel agents in 2017 with Christmas gifts to encourage them to maintain the momentum and thank them for their support. Speaking on the Dana Air Smart Sale, the Communications Manager of Dana Air, Kingsley Ezenwa said: “We want our guests to get booking in 2018. It’s never too early to start planning your business and leisure trips for 2018, as this flash sale offers our guests an opportunity to plan ahead and get fares as

low as 15,300 on roundtrip bookings. All they need to do is visit our website www. flydanaair.com and use the promo code ‘SMARTSALE’ to get best fares. These amazing fares are available across our existing route network –Lagos, Abuja, Port Harcourt, Uyo , and Owerri.’’ Speaking further Ezenwa said: “Our guests can take advantage of this impressive offer and start booking from now till 10th January, for flights between 10th January and 28th February 2018. This deal is based on first-come, first-served, with limited availability. So with these exciting low fares we want our smart guests to get booking.’’ On the gifts to travel agents said: “Travel agents are

pivotal to the success of any airline and we decided to celebrate our travel agents for their constant support and contributions to the growth of the industry. We have had a very amazing longstanding relationship with the TAs, and this is just to appreciate and demonstrate our commitment to them.� Only recently, Dana Air celebrated its 9th anniversary in the aviation industry and capped the year with its full membership of the International Air Transport Association (IATA) and an award for the Most Efficient Airline of the year 2017 at the Nigerian Entrepreneurs awards. The airline is reputed for its unrivaled on-time performance, innovative online products and world-class in-flight service.

Med-View Airlifts Pilgrims for Lesser Hajj Med-View Airline has commenced direct flight to Jeddah, Saudi Arabia for Muslims performing lesser Hajj in the holy land. The flight took off from the Murtala Muhammed International Airport (MMIA), the operational hub of the airline in Lagos was routed via Kaduna and Kano in the North West. The Boeing 737-800 aircraft conveying the passengers had a full load mostly Muslim Ummah traveling to the Kingdom of Saudi Arabia for lesser Hajj. The flight, which took off from Lagos was welcomed with a ceremonial water shower at Kaduna International Airport by the officials of the Airport Fire Service in commemoration of the inaugural flight to Kaduna. Before now, the airline has been operating scheduled flights from Lagos - Kano to Jeddah but has now added Kaduna state to the Jeddah

network amidst excitement from tour operators in the region. The Managing Director/ CEO of Med-View, Alhaji Muneer Bankole who spoke at a brief ceremony in Kaduna before proceeding to Jeddah via Mallam Aminu Kano International Airport, Kano, said the airline was pleased to expand its frontiers in Kaduna state. Bankole disclosed that the new Jeddah flights would be operated on Sundays and Thursdays and continue throughout summer and Ramadan, saying, “This is a golden opportunity for our people to enjoy direct flight to Jeddah without any hassle,� he said. He commended the Kaduna state government for its support to the airline as well as the tour operators who believe in the airline’s capability to offer better alternative to

foreign carriers. Chief of Staff to Kaduna State Governor, Mohammed Bashir Seidu who was on board the flight to Jeddah alongside some senior government officials, said the state was more proud of Med-View Airline. He said: “Med-View is the pride of the nation now and Kaduna state is more proud than any state or even Nigeria because earlier before now, the airport was virtually empty without any activity.� “Then after the flights diversion from Abuja to Kaduna early this year, airlines began to fly the routes. Med-View started operating the domestic flights. Now all of a sudden, the airline has inaugurated international flight from the airport. We are proud of that. Activities have resumed in Kaduna. You have seen economic activities being boosted, everything is now moving. We are really very happy.�

FG Must Investigate Alleged Theft on Taxiing Aircraft

Execujet

There have been reports that a taxiing private jet was burgled on the taxiway of the Murtala Muhammed International Airport (MMIA), Lagos runway. Questions have been asked on the possibility of such incident happening. Many officials involved in the business aviation and who are familiar with the movement of aircraft from the private jet facilities to the runway, seriously doubt that such incident could be a possibility. According to them, if it is true that incident really happened, it would be a serious breach on the security apparatus of the airport. The Chairman of Quits Aviation Services Limited, the only authorised private jet terminal in Lagos, Sam Iwuajoku, however, confirmed the possibility of such incident as similar incidents have taken place after the initial report. On Tuesday, a private jet carrying two Nigerian musical artists were reportedly attacked and robbed on the runway of the Lagos airport. Iwuajoku, who has access to the footage of the aircraft movement to the Evergreen Apple Nigeria (EAN) facility confirmed the possibility with subsequent thefts that have taken place on the runway and called concerned authorities to take immediate action. THISDAY investigation showed that so many activities are taking place around the two runway of the Lagos airport where workmen, including skilled personnel and artisans are working on a new private terminal. Iwuajoku said this is a very critical area which the federal government should focus on to make sure that the incident was investigated to make so as to curtail the reoccurrence of such incidents. According to him, the Vista Jet aircraft had only the pilot and flight attendant on board on arrival in Lagos and it is believed that it came to Nigeria to pick up a passenger. Iwuajoku said: “It has to be noted that every private jet that arrives Lagos must go through security checks and Immigration checks at the Quits Aviation Services Terminal, which is the only authorised terminal for business aviation where officials of Immigration, the National Drug Law Enforcement Agency (NDLEA), Aviation Security of the Federal Airports Authority of Nigeria (FAAN) and SSS are stationed. So on arrival every private jet must go through the facility and also before departure. “Besides, we also monitor movement of these jets with cameras. We are the authorised service centre for five business jet manufacturers like Bombardier, Dassault, Textron Beechcraft, Embraer, Honeywell Avionics and Rockwell Collins, so we have the video movement of all jets coming into Lagos.� THISDAY learnt from reports that FAAN

has only one escort vehicle for arriving and departing aircraft for the entire airport, which handles at least 200 flights a day. There are also indications that the illicit activities have been going on before the pilot of the private jet from Istanbul reported the theft to the control tower a fortnight ago. Although FAAN said it has set up a committee to investigate the alleged theft but THISDAY spoke to the former Chief Security Officer of the MMIA, Festus Oluyinmika Adeboye who expressed doubt about the possibility of such theft. “I was disturbed when I read the report because I don’t see that happening at Runway 18L where the aircraft taxied from to the EAN facility. If it is Runway 19R one could say that somebody can hide there because that area is a little bushy but recently the bush has been cut down. So it will be difficult for anybody to come to that part of the runway because Caverton Helicopters is building a facility there, so the area is busy and nobody can get there without being seen,� he said. Adeboye recalled that about three years ago a private jet taxing to take off at the Abuja airport had its luggage compartment open, so the operatives on patrol van that escorted the aircraft on takeoff alerted control tower who communicated to the pilot to stop so that the compartment would be closed. “So what happened may be out of negligence at the place the aircraft came from. The door might have come off, but I don’t think such a thing could happen here and besides the Runway 18L has CCTV that covered the whole place,� Adeboye said. He also expressed worry about the report that there is only one patrol vehicle to escort planes on the runway and described such as unfortunate. He noted that the Nigerian Civil Aviation Authority (NCAA) had directed that every aircraft on takeoff and landing should be escorted, adding that there should be two escort vehicles for the international terminal of the airport, one for General Aviation Terminal (GAT), one for the domestic terminal, MMA2 and one for business aviation, Quits Aviation Terminal. The latest report on similar incident showed that the airport management, FAAN, lied that it has escort vehicles on the runway that escort aircraft on takeoff and landing, which is a breach of the directive of NCAA. There are also fears that this may affect the goodwill of the Lagos airport, which was recently certified by NCAA in accordance to the standards of the International Civil Aviation Organisation (ICAO). So the onus is on the federal government to ascertain if there was theft on the aircraft and on the pilot to prove that there was indeed a theft.

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AVIATION

Bankole: 80% of Aircraft Maintenance Cost Spent Overseas Nigerian carrier, Med-View Airline, recently had its inaugural flight from Lagos to Dubai. The Managing Director of the airline, Alhaji Muneer Bankole spoke on pertinent industry issues and the company’s plans to sustain the route. Chinedu Eze brings the excerpts: Med-View Airline has just increased its capacity by adding Dubai to its route networks, what informed your decision to venture into the route? We thank God almighty for giving us this opportunity and for making this inaugural flight a success story. When you do domestic alone, you are limited in connectivity. When you do regional operations, you are limited to the Economic Community of West African States (ECOWAS) communities and African Union (AU). When you venture to go into any of the countries where we are now and the one that we intend to go, you have gone global and you have no hidden corridor any more. Here in Dubai and London, we are open to the whole world and we are contesting with the great masters of the industry such as British Airway, Lufthansa and KLM amongst others. We need to play the game the way it is played globally. We started this venture in Saudi Arabia, when we went into this country for pilgrimage; we were maintaining this position and contesting along with the global masters that come to play the same Hajj operations. For over 11 years now, we have been the only Nigerian carrier that has been consistent and we have carried over 330,000 pilgrims that have fulfilled their Islamic obligations. When we came in, there were 14 carriers, but today, only two are still in the market and I hope more will come. From the Saudi Arabian position, we built the capacity by having a very strong base. For our Hajj operations, we do not only carry Nigerians, we carried from other countries. We ventured into the United Kingdom and people thought we will not last up to six months, but today, we have operated for two years on the London route. We have gone through various huddles, but in UK now, we have been accepted side by side with British Airways and that is the beauty of it all. This is what informed us and gave us the strength to come here. This is a global market where everyone wants to play effectively. We have been in talks with the Dubai Government for three years and we have done the ground work by establishing a cargo company here, we have our workers here and we have an agency of travel and tour packages. We went into negotiation and got our first two sets of slots. We were working strongly to build the capacity. We sent our staff here to work and some went to the university here. Today, we can raise our heads; we have everything on ground in Dubai. On our flight arrival flight, we came in with about 12 tonnes of cargo and on the first departure flight to Nigeria, we have 15tonnes of cargo. We had about 80 per cent load factor on arrival flight. On 24th of December, we will launch in Kaduna Kano Jeddah routes and we will be doing two flights weekly. We will start with Thursdays and Sundays and that is why we chose 24th December. This is the journey so far. We will soon start Texas operations and intend to have four flights weekly and Washington, but we have narrowed them down to two flights, so that we are working. We have a consultant working with us. We give ourselves six months, we will be looking at 2018 and that will be the close of the international network. We went to Anglophone and Francophone countries and we are in the Middle East and UK now. The next stage is to be in United States and China will be the next by the grace of God. We are going step by step. We do it slowly and close it. We are spending and building capacity. We are not making noise. God has been the driving force and we thank God for it. Service appears one key factor to drive the Dubai route, how are you looking at

Bankole

making your service a top notch? Ethiopian Airline is owned by Ethiopian Government, Emirates and Saudi Airlines are championed by their government. They subsidise everything for them. I am buying fuel at $51 and I buy it in Nigeria at N220 for no reason. You can understand the challenge we are facing. We do not have government that is championing our cause, but these big airlines have their governments supporting them. So, we know God has been the one driving this cause. The issue of having that standard is gradual. We have started. We created an ambassador on-board, introducing Nigerian attire and culture. These ambassadors are added value. What they are going to do is to supervise what others are doing. It is not something you find anywhere. The only place you find it is on Ethiopia Airline. The lady you find on-board putting on Nigerian wear is like a supervisor, as they run the show too. We will not compromise in our delivery of service. I went on the flight,

We have a succession plan in place. I have a Deputy Manager, I have Executive Director. As I am talking to you right now, I no longer do the bulk of the job. I have given out the job to people to run

I made comments and I took comments and I will go back to them and we will discuss. We will get there. In the area of on-time departure and good food, what are you doing to ensure this is of international standard? We need to change a lot of things. Structures and discipline are always problem in Nigeria. We saw the whole delay. Passengers were held up with immigration. There is no basis for the delays. We should have gone past this level. Once passengers check in, they have minimum time and there is no need delaying them. We still have to get there. That is why Vice President Yemi Osinbajo brought up the idea of ease of doing business to show Nigeria the way to do business. We will get there. We will improve our service delivery on-board. How strong is your tour package? For you to come to Dubai on Thursdays; we can package your things, deliver your cargo and you will be able to board Med-View flight. You have an advantage. This is one idea we are trying to sell so that Nigeria will have this culture of getting out and getting something better for themselves and their family members. We are too money conscious, but we need to move out, no matter how little we have. Aside from service, are you leveraging on price to drive this destination? We have subsidised the price on this route so that people can afford it. We reduced the rate by 50 per cent. What we are selling is mileage. Going from London to Dubai is six hours by flight and while coming from

London to Lagos is three times the price. What makes it different? It is the same cost. We have done the cost analysis and we have subsidised our rates. As a Nigerian airline wearing the country’s ag, what form of support have you received from the federal government so far? This is like a one man flight, but we have a Minister who is listening. He is a friend and a brother of mine. He is a young guy, he is dynamic, but he has limitations. He came here and how many of Nigerian airlines have been given letter of designation, yet has nowhere to go? We have two seasons in aviation, the winter and the summer. So, let us wait for another time if one time is not favourable. We should be disciplined. We need to first assess ourselves at home. Today, we are only five airlines flying in Nigeria, the remaining 23 are gone. So, something must be put in place to ensure people do not close shop. We came here and they asked us to go to somewhere far away. This took me about eight months to fight. For almost one year I have been fighting it. Whoever is behind this scene has to open up. I told the authority that I won’t accept it. What makes Emirates do three flights in Nigeria, two in Lagos and one in Abuja? Why don’t they go to Yola? So I wrote to everyone and the government wrote me back to be patient and Sen. Hadi Sirika, the Minister of State for Aviation told the people that they have to support me. If not Sirika, this our CONTINUED ON PAGE 24

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BANKOLE: 80% OF AIRCRAFT MAINTENANCE COST SPENT OVERSEAS dream would have died. British Airways and Virgin Atlantic are doing 21 frequencies and I am doing only four and the Civil Aviation Authority (CAA) told me I could only do two and I refused their allocations. So, I decided to write a protest letter against it and that is why we are doing four frequencies weekly today. God is the one supporting us. With all these challenges, how do you intend to sustain these routes? For you to survive, you must build a foundation for yourself. If you do not have a solid foundation, you will not succeed. I don’t just come to the air. I build capacity in Dubai for three years for me to be here. The rest we have left in the hands of God, since government comes and goes. Poaching is a popular practise in the Nigerian aviation industry, what plans do you have for training and re-training of technical personnel in the sector? Thank God for our life, most of the guys you see in the industry flying for other airlines some of them are Med-View products. We are happy to have blazed the trail and some of them that have been poached from us, we have no regret about that, but we at Med-View, we are one family and when you are one family, you have the best. I have young pilots that were trained by us and they are around 17 and 18 years old. The company spent lots of money on them to train them because I know I am not going to be there forever. We have a succession plan in place. I have a Deputy Manager, I have Executive Director. As I am talking to you right now, I no longer do the bulk of the job. I have given out the job to people to run. We have trained a lot of people in the Nigerian College of Aviation Technology (NCAT), Zaria. You see, one thing about spending money on people is that they will never betray you because you are building the foundation for them. That is what I have achieved. I have trained a lot of boys; they are disciplined and when they came here, they have a completely different orientation. The first two months when you come here, we do what we call orientation or indoctrination. You will know this company well. That’s your first entry point. That means you will go everywhere; you will go to cargo, you will go to engineering and you must read and understand. Then, you are expected to send me a report, which will judge if you are fit to be in this company or not because those areas that you went, there must be comments from there. Those bosses you went under their supervision they will come and say to me, ‘that guy looks very brilliant, sir if you don’t mind, you can give him to me. He’s sound in Information Technology,’ and so on and so forth. And if I want to employ professional people, I give it out to consultants to handle for me. I don’t get involved. The only one thing that everybody knows is that your final entry point is me; you must meet me one on one and that committee will be seating. What makes their judgment to say negative or positive? I will see every soul; I have 370 employees and I know them all by their names and I know each person’s level and capacity. Every Monday, we have meetings in the office; we do it like the Federal Executive Council (FEC). We exchange blows there. Most of the people don’t like to come, but they have no any other choice than to be here and if you don’t come, you are instantly marked absent, which would lead to loss of things. What areas of civil aviation do you think the federal government needs to improve upon? For me, I don’t want to look at government. We should ask ourselves what we have done from our own side. As the CEO, I just went to different units to see things myself. So, this is a private business, so we are investors; we bring business to Nigeria. The only thing is that we have been shouting to the government over the years to help in the construction of a Maintenance, Repair and Overhaul (MRO) facility for the operators. They have to call

Bankole

for this one – training and simulator. Airline is not manufactured here; we should partner with manufacturers to bring the price down so that we won’t be going through a third party. Also, the government needs to increase the capacity in aircraft and we are telling Nigerian youths to get into this aviation business to reduce unemployment. Fuel is God’s gift. Warri or Kaduna refinery produces our fuel at a reduced price. This is an asset that we have and we need to develop so that we can sell the product to our neighbouring countries. Foreign airlines do not care about Nigeria’s oil anymore; they bring sufficient fuel from outside the country before coming here. So, we need to improve on our fuel. And other government agencies charge us excessively on taxation. For instance, we pay the Federal Inland Revenue Services (FIRS), Lagos Inland Revenue Services (LIRS), the Nigerian Civil Aviation Authority (NCAA), the Nigerian Aviation Management Agency (NAMA), the Federal Airports Authority of Nigeria (FAAN) and several other organisations. You have partnership with foreign airlines like Euro Atlantic. What are the gains of such partnership? We call such relationship synergy. You cannot get everything on your own. Nigeria doesn’t have that structure for maintenance. We get maintenance support from this partnership. Nigeria does not have its own maintenance facility and we must have to keep to the culture of international standard rating. We do a lot of training of technical personnel and aircraft maintenance. Without the support of Euro Atlantic where am I going to train all those people? I spent 80 percent of my money in Panam, in CAE and in South Africa maintenance facilities. There are no maintenance facilities in Nigeria. There is no MRO (Maintenance, Repair and Overhaul) facility; nothing, so why are you going to say, you want to stand alone? Don’t deceive yourself, even the strong airlines form alliance like the Sky Team, Star Rise, Star Alliance, One World, so it is never a one man show. Medview with Air Atlanta and Euro Atlantic have become a family for the past 10 years, so I remain with them for now.

What is your level of partnership with the operators in the area of tour arrangements and cargo? We brought three serious tour operators in our inaugural flight. They are some of the best agents who are committed to the course of this project. In any project we want to do, we first of all call the agents. We have a very strong relationship with them, we believe in them, because Med-Vew started like them as a travel agency in September 9, 2000. The agency was called Med-View International Travels and Cargo. Med-View went into consultancy to create Med-View Consult which deals on consultancy on the package on hajj and it went into Med-View Airline. There were three basic issues on ground in Nigeria’s aviation industry then. The last of it was to liquidate the Nigerian Airways Limited (NAL). The eventual liquidation of NAL was a great mistake made by the Chief Olusegun Obasanjo government. Liquidation was the worst decision because it was not the answer at that moment. The airline would have survived because it had 62 Bilateral Air Service Agreements (BASA) (it was NAL that used to negotiate commercial flight agreements with foreign airlines and it was generating huge revenues from there) and we had 75 percent of property in GRA, both in Ikoyi an Ikeja GRA and in principle of fairness, when you have assets that outweighs your liability, you are bound to succeed, Med-View today has a solid assets of over N18 billion. Med-View realised in three to five years between 3.5 billion; today Med-View is over N37billion. This is not a secret because it is published at the Stock Market. We are looking at the best in 2017 when we give you the books, our projections, we have surpassed it now. In November during the third quarter we were N28billion instead of 25 billion and we are not sleeping, we are at the Stock Market, we are not hiding anything from anybody because we have a lot of stakeholders and we must follow the rules of the Nigeria Stock Exchange. We follow principle of openness, we must publish our books

and we must certify it before you talk anything, so the third quarter is perfect, we preach to you the story in 2013 when we published our books, it was N3.5billion, we rose to N10billion and from there to 13 billion, rose to N26 billion; today we are talking of N35 billion and who knows what tomorrow will be? Our dream is to hit N45 billion when we get the two Boeing B777 aircraft. Look at those Arabs sitting there, they are shareholders in Med-View, my partner is a Saudi. My chairman is a Saudi national, he has been in the business from the beginning, so that is why I told you, to be honest to everybody here, God is the answer, keep Him as your companion, you will not be deceived, don’t even look up to anybody, just look up to Him. I repeat, I am not a Reverend Father or Imam, but it will tell you the secret behind any success story, if you play game you will lose, if you dance to anything, you will lose because the government will come and go and who will listen to you, but if you stay with Him (God), he’s there to give you an answer, that is the secret. What are you doing to take your passengers beyond Dubai, Houston, London, China and other destinations in-terms of code share? As am talking to you now, there are discussions with Southern China Airlines out of here, but we don’t talk, I want to tell you this with open mind, first to come to that destination, second is to keep your On-Time Performance (OTP) because if you don’t keep your OTP status, people need to connect and you must keep that time. We are just here for now and when we start, we go two flights, we are doing three for this week because of the inaugural flights, but we will maintain two flights to stabilise and grow, then we go three, by then any airline you are connecting, you have to be on that time, that airline will know that you are bringing so, so number and there must be a determination for code share with your partner, so we are going there by the grace of God, we are just starting, let’s go slowly, step by step.

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REVIEW

Events that Shaped Aviation Sector in 2017 Chinedu Eze writes on events that dominated the aviation industry in 2017, which may also influence activities in the sector in 2018 There was no pivotal event that characterised the aviation industry in 2017 but the industry maintained the good record of zero accident in the year. The image of the sector went a notch higher because in 2017 two Nigerian airports were certified by the Nigerian Civil Aviation Authority (NCAA) for the first time in the history of air transport in Nigeria. Similarly, the rest of commercial airlines in Nigeria obtained the International Air Transport Association (IATA) Operational Safety Audit (IOSA), while others became IATA members. In 2017 also Nigeria hosted the International Civil Aviation Organsation (ICAO) World Aviation Forum (IWAF), the first time it was held outside Montreal, Canada, the headquarters of the world body. But there were also issues that brought dark clouds to the industry in the outgoing year. One of such issues is the habit of arbitrary picketing airlines’ operations by labour without exhausting discussions, a trend which took ugly trend in 2017. According to industry observers, this trend may threaten the future of the sector unless such actions are stopped by government. While the federal government would be commended by improving the sector in some ways, it failed to set up a mileage for its planned concession of airports and also did not kick-start the establishment of a national carrier, which it claimed was a key issue in its aviation policy. So 2017 ended without transcendental progress in planned airport concession or establishment of a national carrier. Not many in the industry are optimistic these will be realised in 2018, which is practically the election campaign year as election would take place early 2019. Airport CertiďŹ cation For over a decade there have been efforts to certify Nigeria’s international airports. But before they could be certified, they must meet ICAO Recommended Standard Practices. This means that the airports must have critical facilities, they must meet security and safety standard and they must enhance passenger facilitation. However, within a period of two months, NCAA certified the Murtala Muhammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport, Abuja in accordance to ICAO standards. The certification is very important for Nigeria because the International Federation of Air Line Pilots’ Associations reviews airports on a continuous basis, evaluates their safety standards in accordance with ICAO regulations, and disseminates such information to their members all over the world. It is their evaluation that determines whether commercial airlines would agree to fly to certain airports or not. With the certification of the Lagos and Abuja airports, Nigeria’s rating has not only improved but these airports can also serve as hubs in West and Central Africa because they are the only certified airports in the sub-regions. The Director-General of NCAA, Captain Muhtar Usman said the certification would reposition air transport to contribute more to the Gross Domestic Product(GDP) of the country because it would boost passenger movement in domestic and international destinations. Abuja Airport Runway What really jolted Nigeria’s aviation industry in 2017 was the closure of the runway of the Nnamdi Azikiwe International Airport, Abuja for six weeks between March and April, which prompted the federal government to upgrade the Kaduna Airport to international status and it became alternative to the Abuja airport. What was remarkable about the rehabilitation was that government kept its promise and got the runway ready before the given date. But airlines incurred huge losses in terms of revenue; hotels in Abuja lost patronage and so do other businesses, collectively put into billions of naira. Government also spent huge resources on security, the rehabilitation of Abuja-Kaduna expressway, which was good for

Participants at the IWAF Meeting in Abuja

the country. On the flip side also, government was able to upgrade and modernise facilities at the Kaduna airport, making it one of the best airports in the country. ICAO Confab For the first time in the history of ICAO, the ICAO World Aviation Forum (IWAF) was held outside Montreal, Canada, the headquarters of the organisation. This was made possible by the negotiating power of the federal government, which expressed its ability to hold the conference in Abuja, the Federal Capital Territory(FCT). However, the President of ICAO Council, Dr. Bernard Aliu, who is a Nigerian, made the choice of Abuja a possibility. It could be said that IWAF was moved to his home country in his honour. The forum witnessed the gathering of aviation experts all over the world and representatives of member states and international aviation agencies who converged on Abuja from November 20-22, 2017. In a communiquÊ at the end of the conference, ICAO called for planned, strategic, consistent and long term funding of airport infrastructure in Africa in order to build capacity that would be able to process the increase in air travellers on the continent, projected to double from 120 million passengers in 2015 to 300 million by 2035. Airport Concession The Minister of State, Aviation, Senator Hadi Sirika said that government’s lean resources could no more support the maintenance and provision of facilities at the airports, therefore, it has decided to concession the major airports in order to attract private sector funds to maintain the airports, provide critical facilities and even modernise and expand the airports terminals. In deciding to concession these airports, the federal government has given teeth to the Public, Private Partnership (PPP) policy, which it said is the only way to effectively fund public infrastructure at a time government is recording depleting resources and cannot meet the funding of such critical facilities in addition to providing other essential and basic amenities. But in 2017 no significant inroad was made to actualise any of these on the priority list of the federal government. The latest development was the inauguration of Transaction Advisers to oversee the actualisation of these objectives but no mileage was recorded.

National Carrier Not much may have been achieved in the plan to establish a national carrier beyond the inauguration of Transaction Advisers. There is a new dimension to the clamour for a national carrier. And that is seeing a national airline as catalyst to the growth and development of other sectors of the economy. In this vein, the airline will not be established solely for profit but to support other sectors of the economy like tourism, manpower development, aircraft maintenance, catering, developing airports and creating a hub, while the airline is subsidized; maybe, not directly by government but from money generated by ancillary services, while government eliminates charges by the airline that could weigh it down. But nobody is sure whether anything could be achieved under the present administration as Nigeria approaches the election year and government is yet to issue a timeline towards the actualisation of a national carrier. Labour agitation The agitation by the labour unions in the aviation industry took a new dimension in 2017 and pitted labour against airlines. Over the years it has become a tradition for aviation labour unions, especially the National Union of Air Transport Employees (NUATE), the National Association of Aircraft Pilots and Engineers (NAAPE) and the Air Transport Service Senior Staff Association (ATSSSAN) to disrupt the operations of airlines, when they infringe on labour issues concerning the welfare of their workers, or when the management of these airlines discourage the plans by the workers to join unions. Although this may be in conformity with international labour laws and for many years the unions have been given the recognition due to them by the management of airlines and agencies. But for the first time in such agitations the workers of an airline opposed the picketing of the operations of their company and at another occasion, security operatives were called in by another airline to bar the disruption of the airline’s activities by labour. There are fears that this may permanently pit the airlines against labour, as many airlines staff has started disengaging themselves from the unions and the airlines lose huge revenues when labour forcefully close their operations, frustrating travellers in the process.

IOSA Nigerian airlines made significant progress in 2017 as all the commercial airlines have obtained IATA Operational Audit (IOSA) certification and some of them have become full members of IATA. This is a milestone. IOSA programme is an internationally recognised and accepted evaluation system designed to assess the operational management and control systems of an airline. IOSA certification indicates that airline’s safety standard has met international standards and it can partner with any airline anywhere in the world. This is an offshoot of the Abuja Declaration after the Ministerial Meeting of African states on aviation in 2012 and it was decided that any airline that would be certified at the end of 2017 in the continent must be IOSA certified. This was to curb incessant air accidents in the continent. Nigerian airlines have met this critical condition for being in IOSA registry. AMCON Takeover of Arik 2017 also marked the take-over of Nigeria’s biggest carrier, Arik Air by Asset Management Corporation of Nigeria (AMCON) due to the huge debts owed it by the airline. It is generally believed that the takeover of the airline by AMCON saved it from going under and also secured over 2000 jobs that would have been lost if Arik had stopped operation. Many in the industry said that AMCON’s intervention was timely. But the financial challenge faced by the airline, industry observers said, was caused by the crash of the value of the naira occasioned by the economic recession that reached its peak in 2016. The airline was also affected by aviation fuel scarcity that forced the airline to cancel its flights and lost millions of naira. The harsh operational environment which makes airlines with such high number of fleet to pay huge premium on insurance was also another negative factor. Generally, many industry insiders give kudos to the Minister of State, Aviation, Senator Hadi Sirika, who in many ways, has supported Nigerian airlines, including the removal and enforcement of Customs duties on aircraft spares. Currently a committee set up by the minister is working on how to stop Nigerian airlines from paying VAT and other charges in order to make domestic carriers operate profitably. Although 2017 was not a bad year for the aviation industry, it is hoped that 2018 would have better prospects for the industry.

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ANALYSIS

2017: Bittersweet Year for Maritime Sector Eromosele Abiodun posits that the embarrassing International Maritime Organisation council election loss, the Apapa traffic gridlock, Nigeria Customs ServiceCustoms anti-smuggling success and INTELS’ resilience make 2017 a bittersweet year for stakeholders in the sector

Bad Apapa road

Like other sectors in the Nigerian economy, the maritime struggled in 2017. The year began with no hope for the future of the sector. A sector struggling to stand on its feet was further disrupted by the foreign exchange(FX) crisis that sent most players in the industry out of business. Following the inability of importers and exporters to get the needed foreign exchange to transact their business as well as insecurity in Nigeria’s coastal waters, activities at the nation’s seaports reached an all time low. But the intervention by the Central Bank of Nigeria (CBN) with the introduction of the Investors and Export (I & E) window brought some respite. The intervention helped terminal operators to get the needed FX to not only run their business but pay fees and charges to regulators. The total amount of dollars sold directly to banks on the interbank as well as Bureau De Change (BDCS) segments by the CBN from February when the regulator commenced its aggressive foray into the foreign exchange (forex) market was $7.136 billion as at June. As a result, there was significant improvement in the number of vessels traffic between the first quarter of 2017 as against the last quarter of 2016. Vessels traffic in Apapa port grew from 268 in the last quarter of 2016 to 279 in the first three months of 2017, an increase of 11 vessels or 3.9 per cent. Also, vessels traffic at the Rivers port grew from 71 to 90 while vessels traffic at Delta port increased from111 to 116. NIMASA IMO Failure Perhaps the most disappointing and embarrassing news in the sector in the year was the inexcusable failure by Nigeria Maritime Administration and Safety Agency (NIMASA) to get Nigeria elected into the International Maritime Organisation (IMO) council after a massive campaign.

Nigeria, for the third consecutive time lost its bid to get re-elected into category ‘C’ of the International Maritime Organisation. At Nigeria’s expense smaller countries such as Jamaica, Kenya and Liberia were elected into the IMO council. The last time Nigeria won its IMO Council bid was in 2007 under Dr. Ade Dosunmu, who was then the Director-General (DG) of the Nigeria Maritime Administration and Safety Agency (NIMASA) and every attempt made since 2011

Perhaps the most disappointing and embarrassing news in the sector in the year was the inexcusable failure by Nigeria Maritime Administration and Safety Agency (NIMASA) to get Nigeria elected into the International Maritime Organisation (IMO) council after a massive campaign. Nigeria, for the third consecutive time, lost its bid to get re-elected into category ‘C’ of the International Maritime Organisation. At Nigeria’s expense smaller countries such as Jamaica, Kenya and Liberia were elected into the IMO council

to return to the council has failed. Forty countries were elected into the IMO Council in three categories for the 2017/2018 biennial. The successful countries are: China, Greece, Italy, Japan, Norway, Panama, Republic of Korea, Russian Federation, United Kingdom and United States in Category A. Australia, Brazil, Canada, France, Germany, India, Netherlands, Spain, Sweden and United Arab Emirates were elected in Category B while Bahamas, Belgium, Chile, Cyprus, Denmark, Egypt, Indonesia, Jamaica, Kenya, Liberia, Malaysia, Malta, Mexico, Morocco, Peru, Philippines, Singapore, South Africa, Thailand and Turkey were elected in Category C. Category A council members are countries with the largest interest in providing international shipping services, while Category B are countries with the largest interest in international seaborne trade. Category C, which has 20 countries are those with special interests in maritime transport or navigation� and whose election to the Council will ensure the representation of all major geographic areas of the world,� according to IMO. The election, which took place in London, had Nigeria as one of the countries seeking re-election by scoring 98 points in an election that saw five African countries of Morocco, Egypt, South Africa, Kenya and Liberia joining the group at the expense of Nigeria. A breakdown of the votes showed that Morocco scored 134 votes; Egypt – 133; South Africa -121; Kenya – 120 and Liberia – 116. It was gathered that Singapore came tops with 142 votes to beat 20 countries Category C is the executive organ of the IMO that takes decisions in the absence of the Assembly and coordinates all activities of the organs of the organisation. It has 20 member countries with special interest in maritime transport or navigation.

Nigeria Customs of Controversy In a year that nobody expected anything from the Nigeria Customs Service (NCS), it took the anti smuggling task force of the service to save its face after its successful campaign which saw it raked in billion of naira in seizures. The year started for the NCS on a very poor note with battles on all fronts. It started on a rather bizarre note when the Comptroller-General of the NCS, Col. Hameed Ibrahim Ali (rtd), approved a grace period of one month for owners of all vehicles in the country whose customs duties have not been paid, to do so. The grace period was between Monday, March 13 and Wednesday, April 12, 2017. The service advised all motor dealers and private owners of such vehicles to visit the nearest Customs zonal office to pay the appropriate duty on them. The announcement was trailed by a huge outcry forcing Ali to back down. Not done yet, it announced plan to auction seized and contrabands goods by e-auction. A move the Nigeria Association of Auctioneers (NAA) declared illegal, threatening an all out war. Although the NCS eventually continued with the auction, no one can point to any Nigerian who was able to participate. The NCS, however, ended the year on a stellar note. Last week, the Service Public Relations Officer, Mr Joseph Attah, while addressing newsmen announced that the service recorded its highest revenue collection ever of over N1 trillion as against N770 billion target set for 2017. “This spectacular performance in revenue collection shows N241,685,276,289.74 over the N770,573,730,490 target for the year and well above the N898,673,857,431.07 collected in 2016. This is despite the economic recession experienced earlier in the year, with low volume of imports and restriction placed on 41 items from accessing Forex,� he said. CONTINUED ON PAGE 39

WEEKLY PULLOUT

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

LIVING | P31

COLLAGE | P36

THISLIFE | P37

FILE

THE GUYS ATTEMPTING TO DISRUPT ADVERTISING IN AFRICA

28/COVER

29.12.2017

The Guys Attempting to Disrupt Advertising in Africa Propped up by the Tony Elumelu Entrepreneurship Programme, this small, nimble group in Lagos want to change the face of advertising, Solomon Elusoji writes

Goodnews, We are ready to be the backbone of digital advertising in Africa

Last year, a tyre retailing business, Etyres, started to advertise on Facebook, hoping to increase web traffic to its website and drive sales. But none of those objectives were met. “We were disappointed,” the company’s Director, Chiebuka Nworah, told me, “all our expectations were dashed.” What Etyres does, basically, is to counsel car owners on the right tyre product that suits their vehicles, deliver it to their doorsteps and give them accurate expiry details and its ideal customers were car owners in Lagos. In October 2016, Etyres decided to try another solution by partnering with Dochase, an internet marketing and programmatic advertising company. On its website, Dochase boasts of being able to reach up to a billion customers across the internet. “It was their low-budget, high-performance pitch that drew me to them,” Nworah said. “And I just thought, why not try them for a month.” Etyres went ahead to partner with Dochase and, one month later, the results were astounding. The company’s website traffic increased by 300 per cent, return visits increased by 200 per cent, online sales grew by 150 per cent and effective cost per customer decreased by 40 per cent. “I am going back this Christmas to buy more advertising space from them,” a sated Nworah said. In 2013, a digital media and marketing company based in South Africa, Adclick Africa, was looking to run online advertising campaigns with African publishers. The company, too, turned to Dochase. “Working with them has been very beneficial for us,” Publisher Relations and Campaign Management officer at AdClick, Joyce Mogweng, told me. “We have been running online campaigns for different brands in South Africa, increasing their online revenue. Dochase is a network with many Nigerian publications and they have premium inventory which our clients want for their brands. They also have massive Pan African traffic which most of the brands are looking for.” This November, I visited Co-Creation Hub in Yaba, where Dochase is domiciled. The company’s co-founder and Chief Executive Officer, Chibuike Goodnews, dressed in t-shirt and jeans, welcomed me with a smile. I was

curious about the company’s role in the grand scheme of internet advertising, an industry dominated by Google and Facebook? Does Dochase have ambitions of competing with two of the most successful companies in history? Not exactly, according to Goodnews. “We see it as collaboration, not competition,” he said. What Dochase is, essentially, is a digital marketplace that enables advertisers and publishers to buy and sell advertising space, often through real-time auctions. Through Dochase, advertisers can run campaigns, like the guys at Etyres did, that target audiences on social media, mobile, and through display banners on several websites. “We help you to optimise your budgets and track your performance,” Goodnews said. According to a special investigation conducted by a brand magazine, Marketing Edge, earlier this year, an estimated N13.4 billion representing about 54 per cent of total media advertising spend in 2016 went unaccounted for. This sort of wastage is what Dochase wants to minimise. Although Dochase works with local agencies and direct advertisers, Goodnews told me that their biggest customers have come from foreign companies trying to improve brand awareness and sales in Nigeria. The marketing agreement they struck with Adclick, for example, has seen them work with several premium brands including IBM, Stanbic IBTC and Jaguar. “Most of these foreign advertisers cannot reach people in Africa and our platforms help them do just that,” he said. Apart from helping advertisers optimise every naira spent on marketing, Dochase also wants to help publishers increase revenue. The company fills approved publisher’s websites with adverts from local and international advertisers, let them compete for the traffic, ensuring the higher bidder wins. But websites must be genuine and meet Dochase’s quality standards. The kind of advertising Dochase does is still relatively new in Nigeria. Many advertisers prefer to buy Television, Radio and Print ads, while ad send on social media – Facebook, Twitter – continues to gain traction. A Senior Business Development Manager at Eskimi, a programmatic platform, Uchechi

Goodnews describes Onwukeme as the Wozniak of Dochase

Nwanejuafor, told me that the value of programmatic advertising is about three to five per cent of the almost N100 billion advertising industry. “Agencies are adopting programmatic advertising a bit slowly but the numbers are picking up in 2017 and 2018 looks even brighter,” she said. “The depth of targeting and audience data insight programmatic advertising offers will most likely increase the adoption rate.” But the promise of programmatic advertising might be hindered by a lack of transparency, in terms of where the ads sit and how audience profiles are garnered; advertisers want to know what exactly the machines are buying. Tim Waddell, writing for Adobe.com, frames this problem better: “In programmatic campaigns, machines buy and sell ads, and success depends on the quality of the strategy and data — the creative that is served to the customer. There’s certain to be a learning curve in terms of gathering and analysing the data needed to power an effective programmatic system. And, of course, it won’t be easy to fight a negative perception spurred by poor transparency, as marketers struggle to see exactly what the machines are purchasing or to view transaction details.” Then there are fraud challenges like URL Masking and Fake traffic created by mischievous bots. “On programmatics fraud, we use ad verification services like geoedge, forensiq and internal site verification,” Goodnews told me. “We ensure our tags are directly on the sites, our technology reads the behaviour up to the story the user was reading when he saw the ads. “If the traffic is bad, it will flag it immediately and we yank it off. As a matter of fact, traffic quality has been a major challenge in Africa; people post all kinds of things and advertisers have become conscious of where their adverts are placed. So we have strict policy on content quality and have deactivated a lot of publishers for none compliance. For those that have potential, we recommend actions to improve.” Goodnews, who grew up in Kaduna, developed a love for computing when he was a teenager, but only started to write computer

programmes with Java at 23 while studying Business Administration at the Ahmadu Bello University (ABU), Zaria. “I used to read about Jeff Bezos,” he said, “and I wanted to be like him, to build something really massive.” But while in Kaduna, where he also acquired a Masters in Business Administration (MBA), he felt he did not have the resources to fly a tech business. After leaving the university, he went into banking, but kept writing computer programmes at night, building websites for friends. “It was really challenging, but the joy is when your code runs,” he said. Some four years ago, a friend introduced him to Saintgermain Onwukeme, a Systems Engineering graduate from the University of Lagos, and they got talking about programmatic advertising. “We started the business as a side hustle,” Goodnews said. Onwukeme, who Goodnews described as the Wozniack of Dochase, is a six-footer whose mother was also a computer scientist. He co-founded Dochase after working at tech companies like Supermart.ng and after several failed start-ups. “What start-up failure taught me was the importance of deploying technologies as fast as possible,” Onwukeme told me. “Your first product does not have to be perfect. And that was one of the things that worked for us. We had a couple of false starts but we were able to know exactly what was not working and optimised quickly.” However, despite understanding the idea they wanted to deploy into the market, the two programmers could not quite figure out how to turn it into a viable business. In 2015, they applied for the Tony Elumelu Entrepreneurship Programme (TEEP) and Dochase was selected along 999 other promising businesses. “It was TEEP that helped us convert this idea into reality,” Goodnews said. “I have worked on so many things but I have never been able to build a business around any of them. But the training, the support, the mentorship we got from TEEP made a huge difference. If it had not been for them, I probably would have still been in my banking job.” Now, the Dochase team say they are ready to take on Africa. “We want to be the backbone of digital advertising on the continent,” Goodnews said.

29/OPINION

29.12.2017

ADEOLAAKINREMI HOME TRUTHS

Email: adeola.akinremi@thisdaylive.com

Tel 08116759785(sms only)

Peterside

Dakuku Peterside, the man NIMASA wakes up to r. Dakuku Peterside, the director-general of the nation’s maritime agency, doesn’t have an easy job, clearly. But we knew he will not lose his head, when others are losing theirs. We have seen many do in this government. The rare breed politician, who turns 47 on Sunday, December 31, is actually what Rivers State prayed for in 2015, before they were shortchanged by interlopers—the unhinged men sent by the Independent National Electoral Commission (INEC) to supervise the 2015 gubernatorial election in Rivers State. Historical comparisons will be kind to Peterside. I know it is a struggle for the usurper to understand why Nigerian Maritime Administration and Safety Agency (NIMASA) is making bold achievements under Peterside. Here’s why. Peterside is a model of class and dignity. He went to work at NIMASA with creative verve, grit, gut, and geniality as a fine public spirited man. We’ve not heard that Peterside deride any of his colleagues at NIMASA, despite his enormous power. Peterside has treated workers under him with respect and dignity. He brings cooperation to work, where competition kills collective success. With a sense of purpose, high grade of character and basic humanity, he is proving the pundits right that he’s truly a model politician. The NIMASA superintended by Dr. Peterside, in just one year, contributed a total of N21.805 billion to the federal government coffers for a greater Nigeria. In September, when the Minister of Finance, Mrs. Kemi Adeosun and the AccountantGeneral of the Federation (AGF), Mr. Ahmed

Idris, cheered Peterside over his agency’s remittance to the federation account, it was not just because he made their job easy, he actually saved the country from shortfall. I know Riverians miss Peterside dearly. He is a man any state, nation, family and community want at the helms of affairs. It is not surprising to see his name come up one more time on the debate about governorship candidate for the All Progressives Congress in Rivers State, as Nigeria prepares for the 2019 general elections. He is genuine with soundness in his decision–making process. Think of his most recent decision to offer automatic employment to 20 seafarer cadets who graduated with distinction from various foreign universities. The 20 fortunate seafarers, including three females, were among 239 cadets that graduated in Nautical Science, Naval Architecture and Marine Engineering, Transportation in Philippines and Egypt. That is forward-thinking. There is one more thing, Peterside is a symbol of hope for the government Nigeria desperately desires, because his own life explains it. When a reporter from Punch Newspaper recently asked him an off-guard question that borders on integrity, he didn’t have to think twice before he fired back with a response that many office holders will not readily have. “It is possible to be in public service and not be corrupt. I can challenge anybody because I am one person who can say that in public service, I have never taken bribe before and I have never asked anybody for bribe. I am saying it in public now. I have had public service

appointments for more than 16 years.” Finally, Peterside is who develops passion to serve the public and get things done from a small age of 10 is a grateful man. To him, each day is a gift and God is the giver of the rare gift. He happily sings and prays to God for His benevolence. I’ve had many of such moments with him before to know he does. He is not one of those who pretend to arrive on the scene by themselves. Peterside often talks about how fate brought the former governor of Rivers State and current Minister of Transport, Rotimi Amaechi—a man who is stubborn at helping others—into his life. At a recent meeting with journalists in Lagos, with a grateful heart, Peterside, a Moses at NIMASA gave due recognition to Amaechi. “He has been up and doing about growing the maritime sector in Nigeria,” he said. “He can count on NIMASA as number one agency that will go ahead and support him to turn around the fortunes of the nation’s maritime sector.” Peterside’s excellent stewardship of NIMASA is a brilliant reminder of his impressive leadership roots. Born to a middle-class family in Biriye Polo, Opobo, he grew up in Abia, Kaduna and Rivers states. In the 1980s, he attended Okrika Grammar School, one of the pre-eminent public schools in Rivers State, where he served as a school prefect, a role acquired through his impeccable conduct, leadership qualities and academic standing. Yes, Nigeria’s maritime industry now has a vigorous international presence due to

Peterside’s strides. He stays very late and wakes up in the middle of his sleep to read, work on files requiring his attention and organise his schedules for the day by himself. Always in his work, days ago, he said his agency will release the Nigerian maritime industry forecast in the first quarter of 2018. Under his predecessors, it was unheard of. But what can a man who comes prepared for his job will not do? For Peterside, this initiative is to reposition the maritime sector for greater efficiency in line with international best practices. There’s no argument, Peterside is the man NIMASA wakes up to as workers at the revamped agency often discuss the energy he brings to work. What is remarkable, Peterside has a resilience sense of optimism and he doesn’t pretend to be an “all is well” minister. He tells me about Nigeria that, “the time we are is challenging, but we are almost at the end of the tunnel.” He speaks with the same courage when he talks about Rivers State. “I know that God will intervene in Rivers and sustainable change will come, so you do not have to be discouraged,” he says to a group of Muslim leaders he met in Port Harcourt on a recent week. No, the Peterside that we see is not a perfect man, he often weeps at his own shortcomings, but he carries on with good manners and elegance that makes him the desire of all people. It is a hearty cheers and hat-off to one of President Buhari’s superstars.

30/ NEWS

29.12.2017

CleanAce Academy: First Dry Cleaning School Berths in Nigeria Mary Ekah CleanAce Drycleaners, foremost drycleaning company in Nigeria with international dry-cleaning experience dating back three generations recently added another feather to its cap with the launch of the first ever dry cleaning academy in Nigeria, CleanAce School of Drycleaning. CleanAce School of Drycleaning Academy offers the best education in dry cleaning for both freshers and the experienced alike. It is targeted toward ensuring the acquisition of needed skills and professional standards in the drycleaning and laundry industry. The vision of the CleanAce Academy, according to its founder, Eni Ibukun Adebayo, is “to be the re-engineering and re-defining factor in making quality fabricare affordable to all.” Speaking just before its official launch in Lagos recently, Adebayo said, the mission was to establish a self-sustaining organisation, pioneering the promotion of international best practice in dry cleaning, laundry operations and allied services in

Clean Ace well equipped facility

Nigeria. The CleanAce School of Drycleaning is offering courses that will train its students in the art of becoming specialist drycleaning technicians. The school will offer highly interactive and practical courses, where students will be exposed to professional standard practices, in-service practical classes in Customer Service, the Fundamentals of Drycleaning and Laundry, Quality Finishing

and pressing, Inspection and Quality Control, Packaging and others at the CleanAce Head Office located on Ikorodu Road, Maryland, Lagos, where the training centre is located. The school, Adebayo said has designed an enriching training programme that is targeted at building capacities of customer service staff in the drycleaning business, drycleaners, launderers, ironers, quality controllers. “The kind of training we will be giving to them will be based on practical. We would show them different types of materials and how to take care of them. We want to also tell Nigerians that they should produce cloth with care label, because there are institutes that check those materials abroad. A lot of people bring cloth to for drycleaning and that cause problem, so we are working on insurance policy that is going to help. The academy will stand to regulate all these things to make sure things are done in proper way. The academy is coming up to support the sectors of the tailors, vendors and the manufacturers and so all,”,he noted further.

Yuletide: Health Tips for Oil Consumers The festive period is synonymous with celebration, cooking and feasting. It is pertinent that during this period, we consciously make healthy choices in order to maintain a robust lifestyle. This is important as what we consume is central to our health. So, this season while you are up and about, endeavour to make healthy food choices, engage in routine exercise and get some rest. In the light of this, it’s noteworthy to say that not all acclaimed heart-friendly oils are healthy. In reality, most of the oils in the Nigerian market today are not as healthy as purported. Therefore, consumers are advised to cultivate the habit of checking the labels on the bottles of oil before buying as information about the source of the oil, its constituents and expiration are printed on them. Interestingly, Soya oil which is a good source of polyunsaturated fats is considered a healthy cooking oil source by the US National Heart, Lung and Blood Institute. The Institute, as quoted on wikipedia.org, (https://en.m.wikipedia.org/wiki/Cooking_oil), also recommended the consumption of Soya Oil over some other sources for lowering the risk of heart disease. Grand Pure Soya Oil is heart-friendly, edible oil produced by Grand Cereals Limited.

Christmas Season, Grand Pure Soya Oil is heart-friendly, edible oil

The oil has been tagged the ‘Healthiest’ cooking oil and is made from carefully selected high quality Soya bean seeds. It does not contain cholesterol and was the first cooking oil to be endorsed by the Nigerian Heart Foundation (NHF) and the Nutrition Society of Nigeria (NSN). Grand Pure Soya Oil is trans-fat free and contains polyunsaturated fats which help in the control of blood cholesterol levels by lowering the levels of bad cholesterol (LDL) and increasing the level of good cholesterol (HDL). It is light and clear with sparkling golden yellow colour, pure and odourless, does

not foam, fume or coagulate and flows freely even at very low temperature. It is also enriched with Vitamin A. Customers constantly attest to the high quality of Grand Pure Soya Oil. They testify to the fact that the oil is reusable, does not evaporate nor oxidise easily. Most of all, with Grand Pure Soya Oil, you can be rest assured that you will have a sumptuous as well as a healthy meal. Grand Pure Soya Oil comes in 0.75 litre, 2.75 litres, 3.75 litres, 4 litres, 10 litres and 18 litres jerry-cans and can be purchased at supermarkets, mini-marts, malls, shops and open markets across Nigeria.

PZ Cussons Restates Pledges on CSR to Rural Communities Ayodeji Ake As a way of giving back to the society, PZ Cussons Foundation has clearly stated its ambition in continuous Corporate Social Responsibilities (CSR) on education, water, empowerment and health in rural areas across the country. While celebrating with friends, family and other corporate organizations at its 10th anniversary of positive impact recently in Lagos, Chairman Board of Trustees PZ Cussons, Prof. Emmanuel Edozien, noted that the foundation has been charged with the task of impacting the society through CSR especially in the rural areas with no profit motive. “PZ Cussons Nigeria PLC came up with the idea to set up a more structured way of formulating and executing Corporate Social Responsibility programme by registering a Foundation. That was a departure from previous way of doing similar kind of acts on ad hoc basis. To that effect, a board of trustees, comprising 15 persons from diverse professional, ethnic and religious background, under my chairmanship, was appointed and saddled with the task of translating that dream into reality. “At its inaugural meeting, the board deliberated and came up with four areas of intervention: education, health,

potable water, infrastructure. These choices were informed by the desire to directly and positively impact lives without any profit motive or consideration. In other words, how PZ Cussons will give back to society translating their commercial mission of 'Making Life Better' to their 'Social Investment Programme' better known as CSR, of touching lives and we found answers in the four areas. Infrastructure was later reviewed to economic empowerment of the vulnerable group,” he said. In appreciation, Edozien commended traditional rulers and state governments for their supports towards the achievement of the foundation as he emphasised on embarking on more CSR to rural communities. A representative of Mbamba Community in Yola South Local Government Area of Adamawa State, Malam Umar Aliyu Bello, commended the foundation for renovation of the community’s health clinic and power intervention in the community. “Sincerely PZ Cussons Foundation is a blessing to our community. They helped in the renovation of the Mbamba Community Health Clinic. The renovation undertaken by the foundation has upgraded the clinic. Consequently, people from neighboring towns and villages patronise the clinic more than ever before. Records have shown for example,

from January to November 2017, the clinic has attended to 1,429 antenatal cases, 356 labour delivery cases, 372 immunisation cases, 1,284 cases for family planning, and 2,879 OPD cases. "Also after suffering a long period of darkness due to the breakdown of the transformer supplying electricity to the Mbamba Community, PZ Cussons Foundation came to their rescue. The foundation purchased and installed a brand new 200KVA transformer for the community. This singular gesture has helped our community tremendously. It was able to connect the community primary school, borehole as well as the Mbamba Health Clinic to the national grid. God bless them," he said. The Chief Executive Officer, PZ Cussons Nigeria Plc., Mr. Christos Giannopoulos while commending contributors to the success story of PZ Cussons Foundation, also confirmed the foundation will continue to contribute to the growth of the country through its CSR activities “We have been committed to giving back to the community through our CSR activities, we have been able to reach out to many people across the country. I thank everyone who has contributed to the success of this journey. We hope to see improvement in our projects from 50 to 100 and we will get there,” he said.

Hope for the Teenage Girl Amuga Hope, a platform to empower teenage girls and give them hope for a better life, recently restated its commitment to the well-being of girl and women in general. The foundation which started this year March is designed basically for the teenage girls who get pregnant at very young age and are just trying to get by with their children, without the Amuga Hope, Bertha Amuga help of the father According its founder, Bertha Amuga, a Nigerian Super model, she sees the programme as a life opportunity to contribute and impact positively on the lives of young women who are at the verge of losing focus in lives. . The programme she explained is designed to educate young women about early pregnancy; how their education is very important as it determine what and who they become in the future a well as determine who they meet as that can change their lives positively. “Early this year, I was in New York and I watched a documentary on how people changed lives. I started asking myself what I can give back and what I had passion for. I realised then that I care for the cause teenage girls,” Amuga recalled how the initiative started. Amuga who said the programme has been very successful over the few months it had held so far added, “Whenever we have a programme, we usually bring a speaker, sometimes specialist to speak, educate and counsel the teenage girls. This is because some of them who might have fell victim of teenage pregnancy are usually disturbed psychologically, mentally and thereby have low self- esteem.” She was quick to add that so far she has self-financed

Small Doctor, Reekado Banks, Falz, Simi Billed for GOtv Boxing Night 13

L-R: Rafiu Ladipo, President, NBBofC; Jennifer Ukoh, Public Relations Manager, GOtv; Jenkins Alumona, CEO, Flykite Productions and Chidozie Bede-Nwokoye, Marketing Manager, GOtv during the event

Music and boxing are set to mix seamlessly at GOtv Boxing Night 13, scheduled to hold on 26 December at Landmark Events Centre, Victoria Island in Lagos. The event, which promises to be the biggest edition ever, will see four of the country’s biggest musical talents perform. Billed to perform are Small Doctor, Reekado Banks, Falz The Bahd Guy and Simi. Speaking at a press conference in Lagos, Jenkins Alumona, CEO of Flykite Promotions, the event organiser, explained that GOtv Boxing Night 13 seeks to fuse music and boxing because they are two most popular strains of entertainment. “Boxing and music provide entertainment. We decided to provide a better rounded entertainment package for fans as an end of the year present. Whether it is music you want or boxing or both, you have an unbeatable package with the quartet of Small Doctor, Reekado Banks, Falz and Simi as well as top class boxing action, including two African Boxing Union (ABU) title fights,” said Alumona. He disclosed that buses will be provided to convey fans, who buy tickets, from the National Stadium to the event venue and bring them back. The event will feature seven fights across weight divisions, with the headline bout being the ABU lightweight title fight between Nigeria’s Oto “Joe Boy” Joseph and Egypt’s Abdulrahim Ahmed. Also scheduled is the ABU light welterweight title bout between Olaide “Fijaborn” Fijabi of Nigeria and Michael Odhiambo of Kenya. The third international duel of the night is the West African Boxing Union (WABU) middleweight title clash, which will see incumbent champion, Abolaji “Afonja Warrior” Rasheed, seek to stop contender, Ghana’s Aryee Ayitteh. There will be two domestic title bouts. One of these will see fast rising Rilwan “Baby Face” Babatunde go up against Chijioke “Painless” Ngige in the light welterweight category. The other will see the flamboyant Rilwan “Real One” Oladosu seek to win the vacant lightweight title when he takes on Kehinde “Ijoba” Badmus.

31/ LIVING

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Finland Celebrates 100 Years Peace Obi For 100 years, Finns have engaged themselves in building their country (Finland) in becoming one of the European countries with an intriguing success story. With great love for their country, Finns along with her leadership joined force to move the country miles ahead rising from a mere agrarian society to a technology giant and one of the globally acknowledged best education system. Since her independence 100 years, Finland has continued to enjoy unbroken democracy. With other great achievements in areas like education, healthcare, industry, among others Finland is renowned for its best ranking. Finns have over the decades enthusiastically cheered their ski jumpers, formula drivers, architects, composers and singers – while remembering that any recognition must only give cause for brief exhilaration, before setting one's sight on the next task. On the 6th of December 2017 - the official independence day of the Nordic country, Finns and friends of Finland across the world, celebrated the country’s centenary anniversary. The 100th year anniversary preparation was said to have taken a whole year to be put in place. And a celebration

Finland's Ambassador to Nigeria, Ms. Pirjo SuomelaChowdhury

that has been described as one of the special independent celebrations the country has ever witnessed. With a theme 'Together', the Finland’s Ambassador to Nigeria, Pirjo Suomela-Chowdhury noted that the centenary celebrations are a result

of many joint efforts, and the message is that all hands are needed in building and taking forward a nation and a people. Stating that the story of the 100-year-old Finland is both ordinary and extraordinary, the Ambassador noted that it “rests on the values and practice of equality, education, good governance, and hard work. The anniversary which took place in the capital city of Helsinki and elsewhere across the globe held in the midst of winter darkness. And the country and its monuments were illuminated with blue and white lights, the colours that all Finns feel nostalgic and patriotic about. Joyful activities brought both citizens and friends of Finland together as the country’s best singers and dancers gave their best during the celebration, even as the nation's favourite sport ice hockey got its own special celebration. Finns known to be the biggest coffee drinkers in the world, the centenary celebrations afforded the whole country a moment of coming together to enjoy a cup of coffee to mark the occasion. According to the Ambassador of Finland to Nigeria, part of the activities marking the anniversary was a project tagged 'CodeBus Africa'. And that four Nigerian public schools benefited from the project that focused on encouraging girls

into computer coding. "The anniversary year has been a particularly active one. It was kicked off already in February, with the 'CodeBus Africa' project that focused on encouraging girls into computer coding. Students from four local public schools learned how to produce music through coding during this activity that the Embassy of Finland, together with its local partner Ventures Platform, brought to Nigeria, as part of a project that took place in ten African countries", she said. Suomela-Chowdhury said that the highlight of the year was the visit of the country's Foreign Trade and Development Minister, Kai Mykkänen to Nigeria with over 20 companies in November, just a few weeks before the Independence Day. "In a few activity packed days, the delegation had lots of fruitful discussions on the many opportunities for cooperation, and met a host of local companies". According to the envoy, the minister and the companies were very satisfied with the results, and came out of the visit with concrete plans for the future. Along with Finnish Embassies across the world, the Embassy in Abuja hosted an Independence Day reception on 6 December, to honour the day, the many friends that Finland has in Nigeria, and the active and fruitful cooperation between Finland and Nigeria.

Laureate College Preaches Values, Hard Work to Students at Christmas Carol Sunday Okobi and Fumi Obamuyi Laureate College has made societal value and hard work its talking point at this year’s Christmas carol programme. At the 10th edition of this year’s Christmas Carol and nine lessons which was held at the school premises at Mafoluku, Oshodi in Lagos State recently, the school said the programme was to instill the doctrine of Jesus Christ, which includes love, societal value, hard work, peace, culture among other virtues. The proprietress of the college, Dr. Mrs. Olatokunbo Shomolu, told THISDAY that her love to impact knowledge and see people do well in life spurred her and her late husband to establish the school, adding that “the purpose of what we have seen here today is to remind us of the birth of Jesus Christ and it significance. We are Christians, and the sole of all these is Christ our Saviour! “The birth of Jesus is so significant to us that we have to support the children to do something special in creating the awareness that will stay with them forever. It is also a time to be together to fellowship with God with singing and dancing among other things like short plays, storytelling and talk shows. It is also a time of joy, love, peace, as well as to teach the student the essence of value and hard work in life.” Shomolu, who is a Civil Structural engineer by training, said contrary to the insinuation that Nigerian educational standard has fallen, “I don’t really think so because a lot of our children are now smarter and faster in learning. The only problem I see today is that the system (society) generally is in a state of decadence, and this somehow affects the children naturally but the children are learning faster more than before. So for me, the standard of education is not falling.”

The school proprietress, Dr. Shomolu and some students who participated in the Christmas Carol

She however noted that immorality in the society is so high that it has beclouded the true gains of the modern day education, adding that just like Laureate College, all hands must be on deck to correct the ills in the society and make the future brighter for the young ones. According to her, “In Laureate College, we have good children rooted in core values of life, well grounded in hard work for excellence, but we don’t forget that there’s still that larger societal effect. In our students, we instill the culture of

values and hard work, and that only these can get you excellence. We don’t believe in cutting corners. We also have a well-structured pattern and rules to guard against any bad egg who would want to pollute our system because he or she is influential in the larger society.” Also, one of the invited guests and an arts icon in Nigeria, Bruce Onobrakpeya, echoed Shomolu, saying the programme was a kind of thanksgiving by the school in honour of Christ and to herald His birth, and that it is a season

of thanks to God for being kept alive over the last 12 months. “It’s a period of recounting and rededication to life and whatever progress we have made,” he noted, adding that “the Christmas Carol is a kind of rejuvenation and prayer of long life and wellbeing for the years to come. These are the significances of today’s programme.” Onobrakpeya, who has many works of arts for Nigerian students and the literature community to his name, commended the school proprietress for establishing a school like Laureate College which he said is known for instilling values, hard work and excellence in the students. He further stated that the basic thing about all these is training. The artist posited that training students in school, at home and with ICT would bring out the value for hard work, adding that the parents, leaders and other stakeholders need to put in more efforts to groom the young ones in the right ways in order to bring out the value system in them. Onobrakpeya said: “Also, the culture which is a part of our collective behaviour changes, but as we train our students, and as parents uphold the values at home and direct their children in the right way, the society would be better for all, and this is the essence of the Christmas Carol and nine lessons.” How the Christmas Carol can impact on the children, he said the Carol is a religious programme, which is a confirmation of Christian doctrine-the bible reading, the chorus, the music-all have lessons “which would be imbibed by the children to take way for better living. So whatever is said here, the recitation, the music, the talks, they are all prepared to help the children grow in Christ-like manner to be better citizens in life.”

Outstanding Timipre Wolo Bags HNWOTY Woman of the Year 2017 Award Adedayo Adejobi Instituted as a driving force in the realm of award ceremonies made for women, by women, Timpre Wolo, a young outstanding Lawyer and energy entrepreneur came out tops at the maiden edition of the Her Network Woman of the Year (HNWOTY) Awards, which took place in Lagos last Sunday. Timipre Wolo is the CEO of TFN Energy Limited and Founder of the Centre for Gender Equality, Education and Empowerment (CGEEE), an NGO which she set up in response to the high level of illiteracy and poverty amongst women and girls in rural areas across Africa. Timipre began her career in private legal practice, whilst also running the Greener Nigeria Initiative, an NGO focused on the environment, which she co-founded. In 2010, she joined the Legal Department of the Petroleum Technology Development Fund (PTDF), Nigeria’s foremost government agency responsible for capacity development in the oil and gas industry and was subsequently appointed Special Assistant to the Executive Secretary. In September 2011, she

was assigned the responsibility of leading the team tasked with fostering closer collaborations between the PTDF and relevant stakeholders in the industry such as IOCs, NOCs, the academia, the National Assembly and oil-producing communities. Thus, becoming the youngest person to ever serve in the PTDF Management. Timipre also championed the first ever Helicopter Pilot Training Programme for the petroleum industry in Nigeria with the training of indigenous youths as internationally certified commercial helicopter pilots. Following the successful completion of their training, she played a key role in facilitating PTDF pioneer job-creation partnership with the private sector, culminating in employment of 15 of the young budding pilots into positions hitherto held by expatriates. Wolo, who represented Nigeria at the United Nations Youth Assembly in 2005, 2006 and 2008 respectively, has a passion for educating young girls. She dedicates time to supporting and mentoring young women and girls, through the CGEEE and ONE HOUR WITH THE KING, a non-denominational Christian Fellowship she

Timipre Wolo displaying her award plaque

founded in 2013. She enjoys traveling and working with vulnerable children in orphanages and refugee camps and believes that education is a

vital tool for sustainable development and that with quality education; anything is achievable irrespective of your status at birth.

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Recipients at Project Spread

Spreading Love to the Less-privileged In the spirit of Christmas, the House on the Rock Church like it has done in previous years brought smiles to the faces of thousands of families through its Project Spread outreach programme, writes Vanessa Obioha Preceding his arrival to Boys’ High Academy, Lagos Island recently; families trooped in high numbers to the open grounds, beaming in high spirits and positive anticipation. The overwhelming influence of charity on them was apparent and this could be sensed in the spark it ignited to help brighten the slightly hazy morning through the cheerful chattering of middle-aged women who came in pairs and in groups. The wide grin on the faces of younger persons and the calculated gaze of the elderly were also part of the excitement buildup despite seated and subtly waving hands in a prayer fashion to the morning worship and praise. The reason for their cheerful disposition is not far-fetched. It has become a tradition to expect great tidings each time the news of Project Spread reaches any community. Their expectation is always met and even exceeded. Project Spread is a passion project spearheaded by the senior pastor of House on the Rock Church, Paul Adefarsin. Moved by his parent’s humanitarian endeavours – by way of career choice. He was inspired to take up the course of enriching lives of the less-privileged in the society especially at the yuletide season, helping to bring more reason to celebrate the period. Upon his arrival, the senior pastor accompanied by his wife, Ifeanyi Adefarsin, uplifted spirits with words of ministration aided by an articulate translator. Mostly, the crowd warmed up towards his wife as she tried indulging the audience with her skill at speaking the Yoruba vernacular at certain points in her delivery. Paul later continued, following in her established pace and drove home the essence of the project to the crowd and afterwards, handed gift items to those present, especially to the elderly and handicapped. Typical with donations of food, clothes and medical supplies, this year, Project Spread

launched its first mobile clinic geared at providing quick and effective health services across the Lagos Island metropolis through consultancy and diagnosis of easily cured ailments. In the near future, the platform hopes to achieve the goal of providing 48 fully operational mobile clinics; in effect, expanding the reach of Project Spread to other local governments. Breaking new grounds, Adefarsin stressed on the importance of education in the society and country at large. He pledged to sponsor five outstanding pupils with scholarship at the secondary school level so as to create the much needed opportunity to such children whose families could not afford the fees in spite of potentials their children possessed. “We will work with our educationists inhouse to look for the most brilliant students who do not have privilege and denied the opportunity to go to the best schools. We want to have them mix with children of privilege so that they have exposure, so that we can raise the best because all we want is equal opportunity. I largely become what I've become today because I have good opportunity. Now nothing makes me different from the child on the street except opportunity and privilege and my job is to help create opportunities where there was no opportunity so that the best minds can have the opportunity for great education and become our presidents, our governors and our leaders. "The problem with our continent now is education, particularly in Nigeria - the socalled giant of Africa. The lack of education is our big challenge, we must all put hands together to bring enlightenment so that our leadership is provided by an enlightened class,” he said. Last year, Project Spread visited four local government areas: Lagos Island, Sangotedo, Ajegunle and Elegushi. This year the outreach

Adefarasins donating goods to a less-privileged

effort ran also in four locations simultaneously. They are: Lagos Island, Ikate Elegushi, Ebute Meta and Bariga communities. Surely

the goal of reaching out to one family at a time by the platform has become a feat to be reckoned with.

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‘Politics Should Be About the People’ Former Commissioner for Information and Strategy in Abia State and the Director-General of Abia Interest Group, Mr. Eze Chikamnayo spoke recently to Solomon Elusoji about what the group is doing to keep Abia people united and advance equitable progress

Chikamnayo

What exactly is Abia Interest Group? Abia Interest Group (AIG), is a community of Abians, irrespective of political affiliations. It’s a nonpartisan development organisation. Our goals are encapsulated in our name – to fight for the interest of Abians as a collective and not for the interests of individuals. So, at any point in the life of our state, when we feel that things are going wrong, we take the high ground and protect the interest of the state, irrespective of individual differences. The reason why we founded this organisation was that we had seen that at various critical times in the history of Abia, there has been need to speak up for the state. Most times you see people speak up for themselves, for their political parties, for the government; but nobody actually speaks for the interest of the common good, the interest of the people who do not have a voice. The state has to exist before political and personal interests will thrive. So we always emphasise the importance of keeping us united, purposeful and focused. Everybody is better off for it. How long has the group existed? We have been here since 2003 and we have continued to gather in the interest of Abia people, regardless of political affiliations. Once we have identified an issue that is capable of derailing our march to progress, regardless of whose ox is gored, we will rise up together to deal with it. And that

has earned us a lot of respect over time. Will you say the current Abia Government has lived up to expectations? We are not really a political group. There is a Governor that is elected as we speak. He has been in office for about two years, and we believe that every Governor should be given time to actualise his objectives for the people. By this time next year, the political parties will take a position and they will begin to struggle for power. So it is in the place of the political parties to decide whether he did very well or not. For us in Abia Interest Group, we elevate our thoughts to those critical issues that affect the state. Can you share some of the critical issues you have intervened in? For example, when Uche Ogah attempted to subvert the current government using the judiciary, those of us from the AIG said it was not in the interest of Abians. Uche Ogah is from Abia North, a part of Abia that has had its own share of the governorship. For the stability of our state, we agreed that the three zones that make up the state – Abia North, Abia Central and Abia South – should have equal share of power. Orji Kalu, being from Abia North was there for eight years, T.A. Orji, being from Abia Central, had it for eight years too. So we only felt it was simply equitable for Abia South to be allowed to do their eight years. So, regardless of political

affiliation, we agreed to support our brothers from Abia South so that there will be equity. We came out strongly and condemned the efforts to subvert the candidacy of Abia South and we prevailed. There was also a time when some people from the Ngwa nation tried to disown Dr. Alex Otti – they said he was not an Ngwa man, and we said no, it was only an assassination of character and should not be allowed to take roots. Alex Otti was born in Ngwaland, and his father too. Yes, we agree that his grandfather may have come from Abia North. But saying that Alex Otti is not from Ngwa is like saying Obama is not from America simply because his father is Kenyan. So we condemned such profiling. Dr. Alex Otti is revered in Abia and beyond. So our decision to support power rotation in Abia State seems to have favoured PDP; our decision to condemn Alex Otti’s profiling seems to have favoured APGA. So we always try to intervene in the interest of the common good of Abia people. Right now, there is a particular challenge that is trying to threaten our state coming from Engr. Nwabueze Onwuneme, who was at a time Special Adviser to Governor T.A. Orji on Housing and was dismissed from government based on allegations of corruption and abuse of office. Since he was dismissed, he has been maliciously trying to pitch the former governor’s family, especially the son, against Buhari. In

the Nation newspaper of Sunday December 17, he alleged that the life of the President is being threatened by the former governor’s son, Hon. Chinedum Orji. Such an allegation must be backed with facts, otherwise it is capable of causing social unrest. So we came out and condemned the irresponsibility and criminality of such claims. We, the Group, have set in motion the machinery to take legal action against him. What have been the group’s main challenges? Our challenge is trying to change the mindset, the conception of people of what politics should be all about. Politics should be about the people, about justice for all, about giving a good life to all, about security to all. Politics should not be a do-or-die thing, a scramble for the commonwealth; it should be about development. For example, if a young man kills a Hausa man in Aba and burns down his shop; if the people of Abia State do not immediately intervene to condemn the action and discipline the young man, in less than 24 hours, you will see more than 100 people dead too in the north. So it is when you allow a preponderance of such parochial and dangerous actions exist that you have friction and unrest in a community. So it is good for every community to have a watchdog, like AIG, that stands by to protect the interest of the common good.

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Okonkwo Clocks 50, Fetes Abuja Special Foster Home Peter Uzoho writes that the Chief Executive Officer of Great Source Group, Chief Emeka Okonkwo, as part of activities marking his 50th birthday celebration raised money for their upkeep of the less-privileged For children of the Victorine Home for Children, Gwarinpa, Abuja, it was an early Christmas as a charity ball was held in their honour last weekend to raise money for their upkeep. The event which took place at the Rabby Recreational Park, Life Camp, Abuja, was hosted by Anambra businessman and Chief Executive Officer of Great Source Group by Chief Emeka Okonkwo, as part of activities marking his 50th birthday celebration. Dignitaries, including the Deputy Governor of Anambra State, Dr. Nkem Okeke, who led the Anambra delegation that included the Secretary to the State Government, Professor Solo Chukwudobelu, Chief Chido Obidiegwu (SSA Events to Governor Willie Obiano) among others, graced the occasion. Okonkwo, in visiting and donating to the upkeep of children of the Victorine Home and other orphanages, could be said to be in familiar tack on what he had been doing before now. This year’s episode, which coincided with his golden jubilee anniversary, saw him organising an elaborate party aimed at projecting the institute by utilising his high-end social and business network to pull together over 400 friends and associates to identify with the Home The Victorine Home for Children, is a special foster home established by the Catholic Sisters of Jesus the Redeemer Congregation and their associates, to care for the children of imprisoned mothers, children of the insane, abandoned babies, orphans and other such children going through difficulties. Reverend Sister Bridget Obiekwe, one of the administrators of the home, explained: "we call it a foster home for children going through difficulties, such as children of prison inmates, children of insane women on the streets, who obviously cannot take care of their children in such conditions and other abandoned children and orphans who have nobody to care for them. The idea is to bring these children out of the prison environment and other challenging environments to an environment of a home, where they will be taken care of with love and parental guidance. We take care of them and ensure they go to school. When they get to the secondary school age, we move them to boarding schools and continue to take care of them until they are reunited with their mothers after their prison terms. And in a case of a life imprisonment, they are reunited with a willing next of kin to their mother. But we only take these children from the prison with the consent of their mother." She added that the Victorine Home was delighted when Okonkwo decided to host his birthday with the interest of the indigent children of the institute at heart. Speaking at the event, Okonkwo, who said that God has been so gracious to him, appealed to his guests to convert whatever birthday gifts intended for him to cash and cheque, addressed to the children home. On why he chose to focus his milestone birthday celebration to the benefit of these needy children, he said: "Although I have always lived a life of giving, but at this age, more than ever before, I have come to realise that service to humanity is the purpose of life and living. I believe that people should give wholeheartedly to the uplifting of humanity. God has been gracious to me and has given me a lot of opportunities, now it's time for me to give back. "The thought to celebrate with these children of Victorine Home came to my mind back in August when I went to Canada to spend some time with my children who are schooling there. As we were having a nice family time together, I felt some kind of emptiness seeing the kind of opportunities that my children enjoyed compared to these indigent children who have nobody apart from Sisters of Jesus the Redeemer Congregation who are putting

Okonkwo (2nd left) cutting the birthday cake with his wife and son while deputy governor Anambra State, Dr. Nkem Okeke, looks on

Okonkwo with the children and administrators of the Victorian Children Home

all they have to care for them. So, I decided to have a special event where I would bring my influential friends to join hands with me to not only bring smiles to the faces of these children but also invest in their education

and better life. "Asking my friends and associates to channel whatever birthday gifts they had intended for me to the benefit of these children doesn't mean that all my desires are met but I believe

The children and administrators of the Victorian Children Home

the gifts would add more value to the lives of the children than mine." The deputy governor, Okeke, commended Okonkwo for this exemplary gesture, describing him as a "good friend.� He added, "Emeka's life is all about giving. He is so generous that sometimes you don't even know how he does it and how you will ever pay him back for all his generosity. That is why I'm glad to be part of this day of his hitting the golden age. "We are here to celebrate a man that believes in humanity, a man that likes to touch lives positively; a man that exudes optimism. He gives and gives. And I tell people that the race for heaven is here on earth. It is here you show your passion for humanity, it is here you show love to your fellow man, especially the downtrodden. So, we have to encourage Emeka to continue doing the good work." The chairman of the Board of Trustees of the Victorine Home, Okechukwu Onyejiuwa, while commending Okonkwo for his kind gesture, described him as a man with a golden heart, adding that he is "extremely generous and can go an extra mile to make people around him happy and also go an extra mile to uplift the downtrodden." Other speakers, that included his business associates, friends and relations, also affirmed Okonkwo's generous nature and kind heartedness. His wife, Mrs. Rose (a Chemical engineer and senior manager at the NNPC), after serenading him with a special rendition at the event, noted: "my husband, Emeka is too kind and generous to a fault. He can give out his last kobo. That is where we are different. But I have come to accept that, especially when I realised that such generosity endears him to many, which accounts for the number and quality of guests, here, today and all the kind words spoken about him. I'm proud of him." Other dignitaries at the event were Barrister Tony Ojukwu, Executive Secretary, National Human Rights Commission, Barrister Like Anele, MD, Pipeline and Storage Company Ltd, Dr. Aliyu Bello, Gusau, Executive Secretary PTDF, Chief S.N. Okeke, former chairman of the Police Service Commission, Engineer Onochie Anyaoku, former GED, Rifining and Petrochemical, NNPC, among others. The high-point of the event was the presentation of special songs and dance by the children of the home who looked radiant and joyous as they danced and enjoyed the warmth, love and recognition of the August guests, in their honour.

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Lagos State is Tackling Unemployment through LSETF In this interview with Peter Uzoho, one of the beneficiaries of the Lagos State Employment Trust Fund loan scheme, Mr. Ikpoko Irikefe Scott, spoke about his business, the impact of LSETF on entrepreneurs in Lagos, among other issues the LSETF to improve on? Basically, sometimes, what you apply for is what you get but you will as well discover that in the competitive market, the loan itself is not enough for some people to start something. For example, if someone applies for N500, 000 and is given N250, 000, the money might not be enough for him because even the original amount applied for might not fully fund the business, especially the young entrepreneurs that are just starting business. I think the LSETF can improve on that area. Although there is a verification process for applicants where the forms are accessed, I think it is better to give the entrepreneurs or applicants the exact amount they applied for. It is quite difficult if you apply for N500, 000 and you are given less than N200, 000. Again, the competition is very stiff today and the economy is just improving. In Nigeria today, you discover that your competitor will be flourishing in his business more than you because he has the needed funding. So, you need money to do better than because in today’s market, it is either you disrupt or get disrupted. Also, the LSETF can start looking at areas of monitoring the loans to ensure entrepreneurs who got the loans put it into proper use. The loan management is very key because there is presently no problem in applying and processing the loans. I think the LSETF can get more management consultants that will spearhead a monitoring unit to advise and let the entrepreneurs know the importance of the loans and why they need to pay back. I also feel there is need to do continuous training for these set of people.

What is your background? I am an entrepreneur and, the managing partner of Inland Royal Group of Companies. The group consists of Inland Royal Consulting, Inland Royal School of Entrepreneurship and Skills Acquisition, Inland Royal Waters – a company that produces sachet and bottled water, and Inland Royal Autos, an automobile company where we service purely electronic cars. I hold an MBA in Entrepreneurship and Innovation from the Hult International Business School, United States of America. How did you come about your business and where is it located? I have passion for business and, I’m someone who likes to be independent. However, I had worked for several organisations, both local and international, including the Nigerian Stock Exchange. So, All along, while working for other brands, I was nursing the ambition of starting my own business. I’m so passionate about creating jobs for people through my business. So, after my programme in the US, I decided to return to Nigerian to see how I could help develop the Nigerian economy as well. I started my business in 2012 and I have spent about five years in the business. The consulting and skills acquisition arm of my business are based at No. 75, Lagos Road, Ikorodu. At the moment, we have also launched our business school known as Inland Royal Business School and, it is located at N9, Kofo Abayomi, Victoria Island, Lagos. How did you come across the LSETF scheme? There is a programme organised by an Ikorodu lawmaker, Hon. Jimi Benson, called iCare Foundation. My skills acquisition centre was one of the centres chosen to train some of the members of the foundation. The foundation serves as an incubation centre where they train young people most especially unemployed youths who want to go into business. They trained about 300 youths and that was where I heard about the LSETF loan. So, it was there I got to know about the agency and the loan facility. How much did you apply for and how much were you given? I applied for five hundred thousand naira (N500, 000) in order to support my pure water business and it was approved. I got the loan in April, 2017 same year I came across the LSETF.

Where were you as a business before and after the LSETF loan? Before the loan, we were doing well but in today’s competitive market, you need a lot of investment to inject into your business for it to grow if not you will be kicked out of the business. We needed more raw materials to meet up with our daily demands in terms of expansion which the loan was able to help us to achieve. After accessing the loan, the business is doing much better due to our ability to inject more money into the business. In terms of turnover, we have grown from about 40 per cent to 75 per cent right now after the loan because we didn’t invest in machineries but we only purchased rolls we use in producing the water. We are able to add more tonnes to what we are producing daily and the growth happened within seven months.

How transparent was the application process? The process is rid of any bias. At the time I applied, it was very transparent because I am from Delta and there was no time I had fears that my ethnic background will affect granting of my application. How easy has it been for you to repay the loan? It has not been difficult in any way. Before the expiration date which I am supposed to pay back, I usually set aside the required sum to fund the repayment. Besides, the LSETF officers keep track of the payment period and they usually reach out to help us plan our repayment. This has allowed me put measures in place to avoid missing the expiration dates already worked out. After repaying the present loan, would you like to apply again? Yes, I will and I want to look at applying for N5 million and above so that it will help me scale up my business the more. I plan to get more money from the LSETF to help me sustain my business 1,000 packs per day which is my future projection. And, with that I can be able to employ more hands. The only way one can sustain in the water business is to have good trucks and a trusted team. I would like to get more trucks and

What is your staff strength now? Before now, we had only three workers in the pure water factory who were working on the machines. However, at the moment, we have about seven people – which an addition of four more hands working in the factory. Scott

more manpower as well, in the next five years to grow exponentially. Presently, we employ about 13 hands in the business. We want to get more people to work and this can only happen when we get more money to inject into the business. Would you have acted differently if the loan was offered by an organisation/group not tied to the government? Yes, because if you look at the interest rate from the LSETF which is at five per cent, it is very good for entrepreneurs. I don’t know anywhere in the world where you get such

interest rate, but with the rate, you can plan. And in terms of profit margin or turnover, it is quite better than what you get from banks and other microfinance outlets which is pegged at 20 per cent or 32 per cent. For example, if the loan was from a bank, I wouldn’t go for it. Before now, I had been managing my business with my personal cash. I have never taken the bank loan before. When the LSETF came and I studied the interest rate and repayment options which were good, I decided to go for it. What area of the funding would you want

The LSETF is an agency of the Lagos State Government. Do you think it’s really helping young entrepreneurs in the state? Honestly, I thank God for Lagos State that put together a scheme like the ETF for businesses to thrive. I think this is the first government that is actually ready to tackle unemployment and is working towards the goal by helping the youths to start businesses for themselves. What is your plan for the business in the next five years? I have plans to expand to a stage where we have our own personal space, have a waterline and also produce more regularly where we can produce a minimum of 1,000

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Michael Nnamdi and Stella Nwosu during the eight day outing/christening of their new born baby boy, Nnamdi Chigozie in Lagos...recently

MR. Eneghan Brodrick and his wife former Miss. Timothy Afoke during wedding thanksgiving service at God’s Kingdom Society (The Church of the Living God ) Yenagoa Bayelsa…. recently PHOTO: JAMES AGORI

L-R; Alhaja Mulikat Ayoade, Mr. Rasheed Adekunle Ayoade, Mr. Ademola Adewale, Alhaji Adebayo Ayoade; Deceased's husband, Mr. Adeniyi Adebisi and Alhaja Funmilayo Olagbaye during the final funeral ceremony for Madam Felicia Emhonmetiti Adebisi in Lagos...recently

L-R: Youth Pastor, the Throne of Grace, Reedemed Chriistians Church of God (RCCG), Zone 42, Adiyan, Ogun State, Pastor Ademola Olagunju; Zonal Pastor Adekule Oluwakemi; Zonal Mummy Pastor (Mrs) Christiana Oluwakemi; and Assistant Zonal Pastor Ozovie Daniel, during the Zonal Familly and Couple End of the Year Brunch in Adiyan, Ogun State ... recenly YOMI AKINYELE

Mr Raphael Chinedu Onuoha and his wife, Celestina fter their mariage solemnization at the Apostolic Church, Akowonjo, Lagos.... recently.

Celebrant, Mrs. Funmilayo Awomolo, SAN (middle) with her husband Asiwaju Adegboyega Awomolo SAN cutting the cake with home children during her visit to Mother Theresa Children home to celebrate her 60th birthday in Abuja...recently

L-R Queen Cessy Ogunnaike, Prof Bridget Sokan, the Platinum Jubilee Celebrant & renowned Choreographer, Peter Badejo, O.B.E , Tourism Icon Omotayo Badejo Omotosho and Sunday Badejo at the Platinum Jubilee Honour to Peter Badejo at 70 held at Freedom Park, Lagos...recently Abiodun Ajala

Rev. Fr Chris Bologo (middle) flanked by Mr and Mrs Kayode Bello during the couple's child dedication at Our Lady Queen of Peace Catholic Church, Utarko, Abuja...recently

37/ THISLIFE

29.12.2017

‘My Dad Inspired Me as a Kid’ He is a young brilliant, shrewd, vastly travelled and well-read entrepreneur. Born into raising livestock from the age of 10 and love for animals, he went to earn various degrees in business management, business administration, accounting and engineering, but his passion lies in farming. Over the years, he’s been an aggressive learner, and has developed to be more formidable and versatile. His biggest achievement has been his ability to be able to proffer business solutions none like other in the poultry industry. Today he runs a Mega Farm Jocarl Breeder Farm, which rakes in a fortune weekly. Managing Director, Jocarl Breeder Farms, Dr. Adebayo Soboyejo speaks to Adedayo Adejobi on his inspiration, the unique essence of poultry, among other issues margin in the industry non attractive compared to what it has been in time past. Couple with its huge capital intensiveness and the lower and lower margin, the business is getting tougher by the day. The panacea to this challenges entails players in the industry to be more strategic, economical and technical to be able to manage the indices that affect the up and down trends of the business, the industry goes beyond being scientific, strong entrepreneurship and management skill can still guarantee success in the industry.

What originally inspired you to get involved in your work? Well, I was born into it. I have started raising livestock from the age of 10, ever before I dreamt of being a veterinarian. It all started from the old sci-fi movie “Doctor Who” which I’ve been a fan of at a tender age. So I had always wanted to be a doctor, though wasn’t sure of what type of doctor I wanted to be. So as I grew older, couple with my love for animals which I cater so much to and care about. I got determined of being a Veterinarian. Share on your business and why it was started, your days of little beginnings and where you are today. Some success stories and your involvement with private individuals, organisations or the federal government. Our business, Jocarl Breeder Farm was establish to bridge the supply gap the Nigerian poultry industry was facing, and also the urgent need for the country to improve its food security, and that was why a heavy investment was made to establish a state-of-the-art poultry farm with latest technology in poultry breeding. It was a challenging feat due to the fact that the sector is faced with lots of challenges varying from feedstuff supplies, inflation, forex liquidity, power and insufficient know how. But we were able to surmount it all, by working round the clock, and also keeping our eyes on the vision and mission at which we were established in the first place. Gradually things started falling in place and we are proud to be one of the biggest producers in the industry. Our facility was installed to produce over 800,000 DOC weekly. With our recent improvements, we have been able to expand to be able to produce as much as 1.2 million DOC weekly from our two state-of-the-art hatcheries. Thus partnering with private organisation in the value chains and also indirectly supporting the federal government move for economic diversification. What are your major challenges? Challenges are a constant factor in any production sector. Challenges become greater when your dreams and visions are big and when you never intend to settle for less. Our challenges majorly like every other big player in this sector is the availability if quality feedstuff. Unlike our counterparts in the western world, they have been able to industrialise each of the value chain, and there are regulations in place, which are totally lacking here, and because if that nobody really cares or regulate the quality of raw materials that come in for feed production which take about 70 per cent in your operation cost. Furthermore, the issue of smuggling of frozen chicken and eggs into the country is paralysing the industry thus making it harder for farmers to compete and breakeven. All these still boil down to proper regulation and policies. For a farm like ours that depends on 24/7 electricity, power generation is also a big task especially when the cost of diesel is very expensive. The challenges are quite enormous nowadays than it used to be in the industry, and that is why farmers are yelling and even closing down daily. How can we know a healthy livestock even when frozen? Well for you, it might be difficulty except you start seeing changes in colour or odour of the frozen product. For me as a Veterinarian, we were trained to know the normal anatomy of livestock animal, when they are diseased this normal anatomy changes, both in size, texture, colour and many other parameters, and that was why is said earlier that it might be difficult for you to know beyond what you can see and smell.

Soboyejo

There are people who treat animals and aren't vet doctors even though they are skilled in animal care. Are there risks in patronising such persons? Yes, there are great risks. Veterinarians are trained to diagnose, treat and cater for welfare of animals, both livestock and pet animal. Patronising quacks like I would call them puts your investments at high risk, beside you spending more to treat due to wrong diagnosis, you will also lose a lot of your stock or your pets. The veterinary curriculum was specially designed and indepth. So a good veterinarian besides being able to accurately diagnose should also be economical in his/her therapeutic intervention. What makes you continue to want to be involved in this kind of work? The passion got me going strong in this job. I love what I do, and have so much passion for it. This has made me develop myself, honed my skills in my core discipline, and others such as business management by earning a Masters degree in business administration, accounting and engineering to make me as versatile as possible to be able to proffer prompt solutions which are cost effective to situations and challenges I face every day in operating a mega farm.

How is Nigeria’s poultry market currently developing? Except for the last two years, the growth in the industry has been steady. The industry has enjoyed a steady growth, which has led to the expansion of the value chain, which occupies a lot of players both agro allied players, farmers, catering services, and there are linkages. With the recent devaluation, and recession the country experience, the poultry industry was hard hit, and this is because of increase in cost of production, which invariable dose not translate to an increase in cost of goods, leading to losses for farmers. Couple with the low per capita consumption, which drops further due to recession and low purchasing power of consumers, and the alternatives of smuggled frozen chicken into the country. The industry made enormous loss, which inhibits the rate of growth and expansion in the industry as farmers are closing down due to high cost of production and bearish price of goods. A lot of players couldn’t sustain it, especially farmers operating on bank loans, which are affected by increased lending rates by banks. As result of these multiple factors contending with smooth operations in the industry, the GDP from the industry plummeted until of recent when things are taking shape little by little, as prices of goods were moderately increased, and consumers being able to afford them, and also could be due to fewer players in the industry now as compared to what it used to be, thus making the supply bearish, and demand bullish for poultry product, and subsequently increase price, which is remaining players in the industry make marginal profit to sustain operations.

How does your company manage its branding and product differentiation? In poultry industry, the performance of your products is the ultimate brand. Every farm has expectations, the moment your products, day old chicks can surpass these expectations, it creates a brand that will be reckoned with. Our products are quite distinct, and every farmer client that has encounter with us can attest to this. We have three brand of brown egg layers chicken with performance which are quite distinctive and surpasses expectation of farmers, and doing well in the market. Our broilers are also of such nature.

The farm’s layer hens are kept cage-free. How common is this in Nigerian poultry breeder production? I think it’s a common practice. Same thing is applicable to western countries where the industry is well regulated and laws guiding animal welfare. But in our own case, we operate a closed house system, in which our birds live and breed in an artificial environment, where light, water, ventilation, temperature, humidity, feeding and egg collections are automated. Some people call it “air conditioned houses”. But in this kind of production, we are able to control the interaction of the chickens to the outside world filled with diseases, pest and stray animals. This has been one of the major factors that has made our chicken and breed out performing other breeds in the industry. Furthermore, our research and developments on the breed TETRA SL LL (long life bird) has made this breeds to exhibit special characteristics to be to tolerate more the harshness of the Nigerian climate, without affecting their performances on egg or meat production.

Would you agree that the poultry industry isn't as much fun to work in as it has been? Yes, I will agree to this. This is because of the multitudes facing livestock farmers daily, the low per capita consumption of poultry product, diseases, inflation in cost of raw materials and power generation. All of these make the profit

What particular challenges do Nigerian farmers face who seek alternatives to intensive production systems? The major challenge facing intensive production systems majorly is power. For instance, I have 35 closed houses that can take 7,000 breeder each in a land area of over five million square meter.

Who inspired you as a kid? My dad does. He had trained me to be independent and not yielding to pressure. To be strongly determined and keeping my eyes fixed on my targets.

Powering this kind of farm community is a big task in Nigeria where power supply is epileptic. I had to power my farm most times with heavy duty generators which are expensive to maintain, couple with the fact that diesel supply is of bad quality and also expensive. This majorly bore a deep hole in our pocket yearly as a company. Other challenges which cut across all players in the industry is majorly increase cost of feeding which is about 70 per cent cost of production, thus subsequently increasing overall cost of production. In 2014, a bag of new maize goes for 4000-5000 but now it is between 8000-10000. This is about 100 per cent increase, whereas cost of a crate of egg never got 100 per cent increase in price between 2014 and 2017. All these is making the poultry industry unattractive, unfortunately it’s a kind of business that is difficult to liquidate and cash out, so most farmers invariably keep licking their wounds while the pray for better days again. You have worked across the industry for over a decade, what have been your biggest achievements? Over the years I have been an aggressive learner, and have developed to be more formidable and versatile. And my biggest achievement has been my ability to be able to proffer business solutions none like other in the poultry industry. My business management style has focused on cost management, efficient utilisation of resources and scientific approach. As seen in my currently workplace where I was able to transform the farm operation in eight months, cutting across business management, productions, operations, and making the business stronger than it ever was. Where are the next challenges facing the Nigerian broiler industry? One of the biggest challenges facing the broiler industry is the continuous flow of smuggled frozen chicken into Nigeria. I read an article quoted to the former PAN chairman Dr. Ayoola Oduntan, about the industry having an estimated N2bn worth of frozen chicken in various cold rooms. But this shouldn’t be the trend, because looking at our population that should be a stock of frozen chicken that can be consumed in 2-3 months. But with the continuous inflow of smuggled frozen chicken, it is paralysing the broiler industry. Followed with the low per capita consumption of chicken in Nigeria, as most household still see as a luxury. Other major challenges remain the need for the food industry to develop more technologies to package and process chicken meat into variable products of different ranges. This can also help increase the consumption. Lastly, if the cost of feed reduces, I believe the broiler industry will be more competitive and consumers will be able to afford it more. What do we see when we look at the current production standards in the sector in terms of safety and health? Well from my perspective, our production standards and safety is quite high, and we improve regularly on set standards. In another perspective, I think there is need for more regulations in the industry, as most farmers do not observe drug withdrawal periods. These vastly affect the quality of products available to the consumers. Moreso, I think we should also join our western counterparts in the campaign against the indiscriminate use of anti-biotics in poultry production. The importation of poultry products and live birds into the country also needs to be addressed further, as it’s being regarded as the major gateway of livestock diseases into the country.

38/OPINION

29.12.2017

How Financial Gap, Non-enabling Business Environment, Hinder MSMEs Economic Advancement There is a massive financial gap and non-enabling business environment between the government, MSMEs and SMEs. Odimegwu Onwumere unearths that this is affecting the country’s GDP and many of the small business holders lack access to Micro, Small and Medium Enterprises Development Fund; four years after the federal government launched the scheme “Small and Medium Enterprises (SMEs) and Micro Small and Medium Enterprises (MSMEs) have the potential of growing the Gross Domestic Product (GDP) of the country but this is not happening because the government has failed in engaging the right stakeholders.” Those were the words of Franklyn Akinyosoye, President, Association of Business Development Professionals in Nigeria (ABDPIN), while addressing the gap between government and MSMEs at Abuja, Nigeria’s seat of power, October 2017. Akinyosoye was weeping, saying that there is a moldering gap between small business holders in the country and the government. And the gap is encumbering the economic advancement in the county. He pointed out that the Business Development Service Providers (BDSPs), which was the answer to the development of MSMEs and SMEs in the country, has been looked down on, thereby making small business holders unconscious of the role consultants play in the sector. That was even as he added, saying that this gap has seen to loss of money on both sides of the government and the sector. The highlight of this was that in the event that government intervenes in the sector, the money will be lost, said Akinyosoye. But BDSP stands a better ground to reform MSME and SMEs and manage the money very well, given that the body stands to mend the gap between the MSMEs and government. “For instance, if government comes up with an intervention and gives that intervention to an MSME, it messes up with the money and is not able to pay back; the money is lost forever. But if such intervention goes through a BDSP, the body is able to set the MSME up, to manage the money and repay when due,” said Akinyosoye. Putting MSMEs in danger Those who know better have shown anxiousness why small and medium scale enterprises which are regarded as “engine of growth and catalyst for socio-economic transformation of any country” should be handled with the utmost attention they needed. For instance, by May 2015, MSMEs was said to had employed 60 million people from a total number of 37 million MSMEs according to the then Minister of Trade, Industry and Trade, Dr Olusegun Aganga, while unveiling the public presentation of the 'new' National Policy on MSMEs and the results of the 2013 National MSMEs Survey in Abuja. “The reversed national policy served as another direct intervention of this administration to cultivate micro, small and medium enterprises, thereby increasing their contribution to GDP growth which is roughly about 48 percent today," Aganga had said. He added, “The National MSME Policy envisions an MSME sub-sector that can deliver maximum benefits of employment generation, wealth creation, poverty reduction and growth to the Nigerian economy. This is because everywhere in the world, MSMEs are the biggest employers of labour.” However, there was the federal government introduction of Microfinance Policy in 2005, which yielded little or no result, with microfinance banks in the habit of giving incomplete financing standard to arrest the insufficient access to finance affecting the micro and small enterprises in Nigeria. There was the Small and Medium Enterprise Equity Investment Scheme (SMEEIS), regarded as a charitable programme of the bankers’ Committee which took off operation in 2001, whereas it was officially inaugurated at its 246th meeting held in 1999. This initiative was to assist in clearing the road, which the federal government was looking for direction, in order to address the concerns of the MSMEs. Checks revealed that the proposal was aimed at enforcing all the banks in the country to put aside 10% of their earnings After Tax (PAT) annually, for impartiality investment and endorsement of small and medium enterprises. Yet, the scheme

and solar energy firms." In what may turn out to be like the inaccessible MSMEDF, the source went further, saying, “It was further gathered that the bank has structured the loan for disbursement to micro-businesses that needs individual loans less than or equal to the cost of a 5KVA power system and SMEs that need up to N5 million to fund solar energy project." According to them, “The Bank is executing the projects under the United Nations Development Programme, UNDP’s Access to Renewable Energy (AtRE) fund, being managed by the bank to provide micro-grid and stand-alone solar solutions in the off-grid communities across the six geo-political zones in Nigeria.”

President Buhari (1st right) and Osinbajo discusing the economy

which was aimed at reducing interests and other financial woes of the business holders did not walk the talk. MSMEs denied access to loan In February 2017, many operators in the MSMEs were denied access to enjoy the N220b Central Bank of Nigeria (CBN) Micro, Small and Medium Enterprises Development Fund (MSMEDF). For instance, Kuti George, Chairman, Nigerian Association of Small Scale Industrialists, (NASSI), Lagos Chapter with over 3,500 members, expressed concern that none of their members were yet to get the loan, occasioned by the Machiavellian requirement instituted by the government to access the loan. This intervention fund which the National Bureau of Statistics said was launched on August 15, 2013, stakeholders in the micro business industry were worried in their expression-of-grief that the promise given for the setting up of the fund, which was to recognise the quantum contributions of the sub-sector to the GDP, has been defeated. Experts lamented that unlike today, the results of the 2013 national MSMEs survey showed that “there are million MSMEs employing 59.7 million persons, contributing 48.47 per cent GDP and 7.27 per cent to exports.” This result, while it ought to be very useful to policy makers and MSMEs operators, opinion leaders’ views were that the present crop of policymakers, are looking the other way. However, government recognised that there’s an existing financial gap between it and the sector, hence the institutionalisation of the MSMEDF. But four years after, many of the small business holders were denied credit facility for the enlargement of their businesses. MSMEs cry of woes While expressing the bottleneck they have met in approaching the MSMEDF, Alhaji Ali Madugu, Vice President, Small and Medium Industries (SMI), group of Manufacturers Association of Nigeria (MAN), told reporters, “A lot of our members applied but they could not access the fund because there are conditionalities and processes, and you don’t go direct to CBN; you have to apply through commercial banks. “Conditionalities and processes up to the fourth quarter of 2016, only few of our members said they were able to access the loan.” The stakeholders fingered insincerity on the part of the formulators of the scheme, as the reason the scheme is rigid. “One of the stringent conditions is that they said they are lending for equipment, they said they are going to lend you about 25 per cent of your turnover. “What is the turnover of an MSME that you want to lend 25 per cent of it? That’s funny. Second, if you are going to buy equipment, they are going to place a mien on it,” said George.

Against this backdrop, those in the authorities have been giving hope to the stranded business holders that they were geared towards reengineering the subsector to be the next phase that would harness the economy. Those who know better on-the-other-hand pointed out that if the authorities should check the lists of those owing banks, they are not the MSMEs. Rigmarole of the authorities Instead of providing enabling business environment, “Pre-investment approvals and also the kinds of approval that you expect to get from NAFDAC, SON and the support you expect to get from BOI, and I am glad to see that they are all here,” were what the federal government sees as its earnest ways of supporting MSMEs in the country as was captured in 2017 SMEs Conference jointly organised by Nigerian-American Chamber of Commerce (NAAC) and the Economic Affairs Section of US Embassy in Kaduna, where VicePresident, Prof. Yemi Osinbajo, some governors and ministers sauntered from-side-to-side of booths, where hundreds of MSMEs displayed and publicised their products. “One of the most important things is the whole business of pre-investment approvals and also the kinds of approval that you expect to get from NAFDAC, SON and the support you expect to get from BOI and I am glad to see that they are all here,” Osinbajo said. He added, “So, I think that they are a lot more proactive and they are working a lot more on the time it takes to get these approvals. So, that is really one of the most important things about these Executive Orders, just generally getting all of the relevant agencies to quicken the pace of granting approvals for all of these products and I think that we are getting positive results.” Energy crisis in MSMEs While there is the “Executive Order” for small business owners to obey, the Bank of Industry has not met with the energy requirements of MSMEs in the country. The Bank was rather swaggering that it would boost energy through the provision of N1 billion credit, to enterprises in many sectors. According to the editors of a national broadsheet, "Cost of electricity accounts for about 40 per cent of operational costs for most MSMEs, resulting in very little profit margin, non-competitive products and generally unsustainable ventures.” When the CBN was yet to grant un-tensioned access to the small business holders, the Bank of Industry sought for praise from the public, by saying that it will take energy in the industry further. The editors nevertheless added, "It has taken renewable energy projects beyond rural communities by including electrification of MSME sector to boost their performance and create jobs and will soon start to disburse the first phase of the loans through banks, micro finance banks

Skills required in MSMEs In some quarters, it is evident that some of the persons in the small businesses in the country are just for the money and do not care to improve on their skills. Represented by the Director of Policy, Advocacy and Coordination, PAC, department, Monday Ewans, the Director General of Small Medium Enterprises Development Agency of Nigeria, SMEDAN, Umaru Dikko Radda on August 1, 2017 during a two day training workshop on Micro, Small and Medium Enterprises, MSMEs digital marketing and entrepreneurship skills organised by SMEDAN in partnership with A.K.G Global multi-services company, cautioned against this habit. “I am elated because MSMEs can now have a platform for assessing local, regional and global markets for the development of the sub-sector in Nigeria,” he said. “This collaboration is very essential to us today because in other for us to encourage MSMEs development in Nigeria, we must partner with organisations like this who have created a unique platform online for small businesses to be seen and accessed from anywhere in the world.” Moves to fill the gap Looking for ways to bridge the gap that is existing between the Federal Government and MSMEs, the SMEDAN led 26 MSMEs to China Expo 2017, where over 300 SMEs from various countries participated. The sole aim of the journey by Nigerian delegates headed by Radda was to launch a campaign dubbed, ‘Buy Made in Nigeria’. The Vice President’s Spokesman, Laolu Akande said on September 4, 2017 that the federal government would launch one-stop shops expected to kick off between September and October in no fewer than seven states across the country that include Abia, Cross River, Ogun, Akwa Ibom, Kwara, Kano, Benue and the FCT to assist in silkier government supervision and boundary between entrepreneurs and agencies of government. This programme is a division of the on-going nationwide Micro, Small and Medium Enterprise Clinics for Viable Enterprises (MSME Clinics) commenced by the Presidency in January 2017. According to the Presidency, “The agencies to be housed in the One-Stop Shops are the Bank of Industry (BOI), Bank of Agriculture (BOA), CAC, FIRS, SON, NAFDAC, and the Industrial Training Fund (ITF). Others are the Nigerian Export-Import Bank (NEXIM), Nigerian Export Promotion Council (NEPC), and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).” Whichever, a worried Kuti George nonetheless lent his words of advice to the Federal Government saying that if it wants to succeed in the MSMEs, especially with the MSMEDF, it should avoid showing disingenuous to the business holders, but should be serious and draw from the Lagos State Employment Trust Fund (LSETF), which came barely a year and have been able to reach out to over 1,000 small businesses. According to George, “Let the CBN go and learn how LSETF did its own.”

T H I S D AY Ëž Ëœ Í°ÍˇËœ Í°ÍŽÍŻÍľ

39

BUSINESSWORLD

MARITIME

2017: BITTERSWEET YEAR FOR MARITIME SECTOR

Bala-Usman Amaechi

Bala-Usman’s Reforms Judging from the rot she inherited at the NPA, Hadiza Bala-Usman stood out in 2017. It is important to note that mid 2017 she was just one year in office. The news of her appointment in June 2016 rattled the maritime sector as many feared the radical change the co founder of the Bring Back Our Girls (BBOG) would bring to the industry. Some critics had argued that she did not have the experience to run such a huge enterprise having only worked at the Bureau of Public Enterprise (BPE) before being appointed chief of staff to the Kaduna State governor. Some critics were not convinced that Bala-Usman possesses the required skills and experience to pilot the affairs of such extensive and multifaceted organisation. However, all the doubts have now been put to rest as the NPA boss has, in a few days in office, achieved what took her predecessors a longer time to achieve. Among her many achievements was the drive to ensure that operators are held accountable. Also, she made giant stride in her effort to ensure that doing business is easier and cheaper across the nation’s ports. Another major achievement of the NPA boss was the redeployment of two southerners to head the London and Abuja liaison offices of the agency for the first time in recent history. She also made effort to improve the standard of operation at the ports in order to increase cargo traffic in and out of the country. She was quoted to have said at a forum during the year that the effort by her management to reform the ports is premised on the need to entrench efficiency, transparency and accountability in ports operations. The Apapa Tragedy However, one area Bala-Usman clearly failed was her inability to keep her promise to decongest the Apapa traffic gridlock. She had promised to do so on her first official visit to the ports. But few months down the line, two tragic incidents occurred that indicate the situation in Apapa has reached implosion point. The incidents were the stoning to death of a LASTMA officer and the burning of banks. Both incidents are directly related to the traffic gridlock in Apapa and are the products of the frustrations and stresses being faced by truck

other road users going in and out of Apapa. Likewise, the only other access road out of Apapa through the Liverpool Overhead Bridge and Apapa-Mile 2 Expressway is similarly in a state of complete disrepair and blocked by trucks and tankers.

Peterside

and tanker drivers. The first was the murder of the LASTMA officer, allegedly by some tanker drivers protesting the death of one of their motor boys they blamed on LASTMA officers trying to seize a tanker for wrong parking. The second and most disturbing was the burning of two banks and destruction of other business premises by some truck drivers protesting the killing of a truck driver by a policeman for wrong parking. With numerous petroleum tank farms in Apapa, no one knows what will trigger the next altercation over the traffic gridlock that can cause a melt down and massive destruction in Apapa.

Apapa is home to Nigeria’s key ports (Apapa and Tin Can), numerous petroleum tank farms, national dailies (THISDAY Newspaper and BusinessDay), numerous manufacturing concerns, businesses and residents. In the last few years, Apapa has been a no-go for visitors, hellish for those who reside and work there, and traumatic for business owners and those exporting or importing cargo. The primary reason for the traffic gridlock has been the complete collapse of the 2km Wharf Road which leads from the base of Ijora Bridge entering into Apapa to the entrance of Apapa Port. This has resulted in a backlog of trucks and tankers on the Ijora Bridge sometimes all the way to Western Avenue making it difficult for

INTELS Resilience In a country where the interest of its nationals comes last, the threat to the means of livelihood of Nigerians working with INTELS Nigeria Limited, Nigeria’s oil and gas logistics giant with operations in Onne, Rivers State, Warri, Delta State and Lagos, was most palpable. This was because of the threat to the company’s existence by agents of the federal government who, for reasons best known to them, did everything to disrupt the company’s activity. The most persecuted in 2017, INTELS, however, stood strong assuring Nigerians that its determination to create jobs for the teaming unemployed youths will not wane despite the barrage of missiles thrown at it. The founder and majority shareholder of the company, Mr. Gabriele Volpi, on several occasions expressed his resolve to continue to invest in the maritime sector. He had while speaking with THISDAY during the year, resolved to ensure that INTELS undertakes a reconciliation process and continue to comply with policies of the federal government. Volpi added that his company was committed to co-operating with the federal government and the NPA in the development of the country’s maritime sector, including the construction of the Badagry deep seaport in Lagos State. “We are committed to co-operating with the government and NPA in the development of Nigeria’s maritime sector and this includes the Badagry deep seaport. “The Badagry deep seaport is a massive undertaking which will cost billions of dollars and will be the biggest in Africa and would turn Nigeria into a regional hub for ships bringing goods to the continent. “It will also help to move a lot of shipping activities at the Apapa and Tin-can Island ports and help to decongest Apapa, so we are serious about our investments in Nigeria,� he said. As the year 2017 comes to a close one can only hope that 2018 will be the year the maritime sector will replace crude oil as Nigeria’s economic mainstay.

T H I S D AY ˾ FRIDAY, DECEMBER 29, 2017

40

CITYSTRINGS

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

Loyola House, Champions of the 26th Inter-house Sports Competition of St. Francis Catholic Secondary School, Idimu, Lagos, relishing their victory

A Race for Champions The exciting moments and suspense-filled ambience typical of the Olympics was recently replicated at St. Francis Catholic Secondary School, Idimu, Alimosho, Lagos, writes Peter Uzoho

I

t was a day for champions, sports lovers and fun seekers who had defied all other weekend schedules to come to either compete as athletes, watch athletes display their athletic skills or savour the pleasurable moments at the theatre of games. From 7a.m., on the D-day – November 11, 2017 the school’s walkway had got busier than usual as scary human traffic ensued. Students donning red, blue, green and yellow sporting attires, representing Loyola, Olorunfunmi, Asisi and Cusimano – the four Houses in the school’s sports show were everywhere in the compound. Parents and guardians were on ground to see their children and wards display. Representatives of invited schools showed up and even took part in races scheduled for them to make the event more inclusive. Teachers, house leaders and the entire management team were at their best ensuring that the show went through seamlessly. The pitch had been well marked into lines of various shapes and beautified with colours ready for the field and track events. Stationed just directly opposite the field of play was a wide projector streaming live all activities of the sports fiesta. Being the grand finale of an event that had been on for close to two weeks, the day was loaded with lots of ceremonies to kick-start the activities lined up for it. In the build up to the showdown, the competing houses had been involved in series of practices where each house selected its best athletes. They had done the first

and second heat in various categories of the competition before the final showdown. Sponsors, invited dignitaries and guests were seated in canopies made available for them while mass of spectators found comfort in shields naturally provided for them by trees. Shortly after observing the routine opening prayer, the National Anthem and the welcome speech, the overall winners’ trophy was returned waiting to be grabbed again by yet to be known champion. To ensure the officials obey religiously, the tenets of the game, the Sports Oath was administered on them, leading to eventual opening of the competition. However, in a predetermined order, the torch of unity was lighted by leaders of the

Proving its indomitability in the school’s sporting events, defending champions, Loyola House clinched the trophy again with 20 gold, 13 silver and 12 bronze. The house also broke the record of being the first house to win the trophy three times in a row

school beginning with the Sports Prefect (Girl) to the school’s Magis Eagle to the Administrator and down to the Sports Prefect (Boy). This was followed by match past/ parade by all four houses, the officials, teachers and parents. A launching was, however conducted to raise funds in support of the school’s sports programme, completion of its sports pavilion and multi-purpose complex. The houses competed for supremacy in all the 43 events which included, long distant race, sprint race, relay, sack and leg races. Others were tug of war, shot put, scrabble, chess, discus, rubrics, ayo, high jump, football and well-fed races. Proving its indomitability in the school’s sporting events, defending champions, Loyola House clinched the trophy again with 20 gold, 13 silver and 12 bronze. The house also broke the record of being the first house to win the trophy three times in a row. At the second position was Olorunfunmi House with 16 gold, 20 silver and 14 bronze; third was Asisi House with 14 gold, 17 silver and 20 bronze while fourth and last position went to Cusimano House with 13 gold, 13 silver and 15 bronze. Earlier in his opening speech, the school’s Administrator, Rev. Fr. Maduabuchi Leo Muoneme, had captured the importance of the event to the students and the school at large. “Today, we celebrate the old Latin Dictum: menssena in corporesano – a sound mind in a sound body,” Muoneme would say. According to him, sport has the potential to bring out the best in the young. “Today, we celebrate discipline, motor

skills, and coordinated actions. The four houses of St. Francis are aiming for one thing – to be the best that each of them can become. Today’s sporting events are also dynamic metaphors for life. Sports bolsters service, leadership, friendship, focus, teamwork, character, commitment, competent, conscientiousness, courage, discipline, and determination for success,” he explained. Stressing on the significance of some of the sporting events, the administrator said: “In the sprint race, we are reminded that life is short, and we must make the best opportunity of man’s relatively short lifespan on earth. In the long distance race, we are reminded to keep a steady and steadfast focus till we finish our earthly pilgrimage. “In the hurdle race, we are reminded that life has obstacles, and we should keep on prayerfully and intelligently overcoming them and moving on. Hurdles or obstacles in our lives are not full stops, but commas. In the relay race, we see the importance of teamwork and smooth transition of batons from tradition to tradition, from parent to children, from teacher to student, from predecessor to successor, and from generation to generation.” He said sports complements education and that it is part of education, adding that they, in the school, which is a Jesuit College, believe in “holistic formation of our students. We want them to be all rounded, not just academically, but they should be able to train on how to use their body. We do spiritual training, mental and bodily training – everything all rounded. So what we’re doing now is like

T H I S D AY ˾ FRIDAY, DECEMBER 29, 2017

41

CITYSTRINGS

Senior boys in one of the field events

Senior girls in one of the field events

Young athletes engaging in sack race

Loyola House athlete showcasing his talent in high jump at the sports fiesta

L-R: Sports Director, SFCSS, Chioma Ihedioha; Administrator, SFCSS, Fr. Mmaduabuchi Muomene; Chairperson, Expanded Sports Committee, Cecelia Atuegbe-Eidaghese; and Chairman of the occasion, Olu Daramola, at the inter-house sports competition held recently

Spectators at the sports fiesta

an appendix – it’s part of education. And in fact, it’s going to again sharpen their thinking facilities and make them more academic fit,” Muoneme noted. The Administrator charged all the competing houses to go all out for victory. “All of you are the eagles of St. Francis, and I encourage you all to fly high and victorious in your respective colours. True victory is about doing your best, reaching your potential, competing honestly, and having a spirit of teamwork and sportsmanship,” he added. The Chairman of occasion, Mr. Olu Daramola, said his being at the occasion and observing what was happening had shown him that Nigeria can get Olympic hopefuls from the school. “They have done very well, especially in hurdle. With the kind of talents we see here, if well trained, you can get Usain Bolt from among them,” Daramola said. He called on the government, corporate organisations and individuals to invest more in sport development in the country. Linking sport and academic performance, he added: “sport it’s not just to entertain, it’s linked to intellectual development. When your body is agile and you’re strong, you are also likely to do well academically because there is coordination between the physical strength and the brain. So I will love government, corporate bodies and individuals to support initiatives like this so that we can develop

our young ones in sports.” Sports Director of the school, Mrs. Chioma Ihedioha, said this year’s sport show came with lots of improvement. “We started the practice on the 30th of October, had our first heat on the 4th of November, 2nd heat on the 8th and today 11th is the grand finale. We introduced new activities in this year ’s edition such as hurdle. So students who have not seen it life before are seeing it today; also we introduced a live streaming of the activities with an electronic projector provided by some of our sponsors,” She said. Commenting on the serial victory recorded by Loyola House in the competition for three years, Ihedioha pointed out that the House has the spirit of teamwork. “Everybody in the house is working hard to see that they win and they won. The House Master and House Mistress, Mr. Fidelis Fagbuaro and Mrs. Omozusi Sam teamed up to bring out the talents in the house. The students also cooperated in order to ensure they secure victory. They maintained the victories they have been having for some time.” Also noting the impact of the inter-house on the students over the years, the sport director said most of them had developed the spirit of sportsmanship. “Some have even gone abroad and came back to collect their testimonials with respect to their performance in one sport or the other. One man even

gave some of them scholarship abroad on the basis of this. So the inter-house sports we do every year is really having great impact on the students mentally, physically, emotionally and socially,” Ihedioha added. Asisi House Master, Mr. Mustapha Kolawole who spoke to THISDAY earlier during the course of the show had already known the fate of the team. “Well, it’s been going on well, but I don’t think we will emerge winner of the competition because by now whoever that will win it should be able to know from their performance and from the number of gold, silver or bronze they have already won. But it’s not something that will make us feel so bad knowing that everybody cannot win at the same time.” According to him, by next year the team will come out stronger and more focused to win the trophy. “We’ve learnt our lessons; we’ve known the areas we have shortcomings and we will definitely work on those areas to achieve good result.” The House Master of the victorious Loyola House, Fagbuaro believed team spirit, good preparation and ability to know you’re their strength and concentrating more on it was responsible to their victory. “Most people don’t know how to identify their athletes and their strength and put them in areas where they are supposed to be,” He said. Fagbuaro noted that next year, the house would still put up a good challenge. He

dedicated the trophy to the athletes and the whole house for doing them proud. Meanwhile, the Most Valuable Athlete and Sport Prefect of the school, Miss Chinemerem Ezeudo from Olorunfunmi House, said the event was fair, competitive but stressful. She attributed their inability to get the first position to lack of proper attention to some of the events. “We did well in the 100, 200 and 400 meter races but didn’t do well in some of the races like the sack race and the 100 and 400 meters races for the senior boys. Ezeudo who loves sports with passion, and good at the short distance races – 100, 200 and 400 meters, says she wants to represent Nigeria at the Olympics. She dedicated her medal to their house leaders for their good leadership. The fastest girl in the junior category, from Loyola House, Miss Benita Ibeto said: “I feel very happy and excited. I wish to be getting first in the competition every year.” She said having good house master in Fagbuaro, coupled with the team’s determination and cooperation led to their win. In the spirit of sportsmanship, Miss Scholastica Afemikheof Asisi House expressed her happiness for taking part in the event even without her team emerging the champion. She congratulated Loyola on their victory and threatened to strip them of the trophy next year.

T H I S D AY Ëž , Í°ÍˇËœ 2017

42

BUSINESS/MONEYGUIDE

Naira, Other Currencies to Remain Stable Most of Africa’s main currencies are expected to remain stable over the next week as markets remained sluggish over the holidays, traders have said. For instance, in Nigeria, the naira was expected to be stable in the week ahead, supported by the Central Bank of Nigeria’s regular interventions through the injection of dollars into the market. The currency has been hovering at N360 to the dollar for investors, around the same level as in the parallel market. On the official market, it has been quoted at 306.05, a level at which the central bank has been intervening. Also, Reuters reported that the Kenyan shilling was also expected to maintain the same level in the coming week with markets being closed on January 1 for the New Year’s holiday, traders said. Commercial banks quoted the shilling at 103.10/30 per dollar compared with last Thursday’s close at 102.95/75. In the same vein, the Ugandan shilling was

seen trading with a bearish tone over the coming days as traders pick up dollars to cover short positions amid tight inflows. “Around this time, we normally see banks exerting a lot of demand as some move to cover short positions,� said Faisal Bukenya, head of treasury at Exim Bank. This demand, he said, would likely push the local currency to weaken to around 3,630-3,640 levels. Also, the Tanzanian shilling was expected to hold steady against the U.S. dollar in the days ahead, helped by a slowdown in business activity due to the year-end holiday season. Commercial banks quoted the shilling at 2,233/2,243 to the dollar on Thursday, barely moved from 2,238/2,243 a week ago. “There is subdued business activity due to the holidays. The shilling will likely remain stable in the same levels over the coming week,� a trader at Commercial Bank of Africa Tanzania said. The kwacha was expected to

come under a bit of pressure against the dollar next week when normal business resumes after the holidays. “Sentiment is for a weaker kwacha, it will probably go above 10.0000 per dollar next week as market activity increases,� independent financial analyst Maambo Hamaundu said. For Ghana, its currency, the cedi, was seen fairly steady against the dollar for the rest of 2017 on subdued business activity until after the New Year holidays, traders said. The local unit was trading at 4.5370 to the greenback on Thursday, almost the same level as its 4.5300 post-Christmas close on Wednesday, compared with 4.5100 a week ago, Reuters data showed. “Markets are calm and the unit is expected to close the year around the 4.53 levels, in the absence of any last minute trading moves by banks in an attempt to paint good financial positions,� Joseph Biggles Amponsah, treasury head at NorthStar Home Finance, said.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

FirstBank to HoldYouth Mentoring Programme First Bank of Nigeria Limited has announced it is convening a youth mentoring session, themed: “Building a Financially Literate Tribe.� The event, which would be hosted by the Chairman of the bank, Ibukun Awosika, is being organised to drive a culture of financial literacy among the youth and create a consciousness of financial efficiency in their daily activities; in business, entrepreneurship, career and personal lives. The programme expected to hold in Lagos, would convene about 1,000 youths to equip them with the knowledge of money management, entrepreneurship skills, and financial independence, thereby securing their future and placing

them on the path to financial freedom and productivity. A statement from the bank explained that Awosika would be speaking at the event along with the Managing Director, dkbMarkets, Dr. Remi Banjoko, as well as Founder and Chief Executive Officer of Bestman Games Limited, Nimi Akinkugbe. “They would share practical experiences on the art and finesse of money growth, investments and entrepreneurship with participants to build a financially literate tribe that would sustain the culture of financial literacy amongst their friends, class mates, and associates,� the statement explained. Speaking on the event,

the Group Head, Products & Marketing Support, First Bank of Nigeria Limited, Abiodun Famuyiwa said: “The Youth Mentoring Session with Mrs. Awosika is one of our many interventions in Financial Literacy as we continue to engage our youths to build a sound financial system and positive economic environment. “To support the bank’s financial literacy drive, First Bank has carefully designed the MeFirst (13 – 17 years) and XploreFirst (18 – 24 years) products to meet the financial needs of the given demographics whilst also ensuring that the account holders acquire the rudiments of banking and financial literacy required for financial independence�.

Minister Lauds Sterling Bank’s Intervention in Transport Sector The Minister of Transport, Rotimi Amaechi has commended the role being played by Sterling Bank Plc in the repositioning of the sector. The minister was quoted in a statement from the bank, to have made the remark at the end of the 2017 National Conference organised by the Ministry of Transport. According to the statement, he commended Sterling Bank Plc for its intervention in Nigeria’s transport sector, saying such intervention from the private sector would help to accelerate the desired transformation in the sector. The minister noted that Sterling Bank had established itself as the reference bank in transport finance as a result of its investment in the Bus Rapid Transit (BRT) and LAGBUS initiatives of the Lagos state government. “I want to commend Sterling Bank for its support to the transport sector so far. I am aware that Sterling Bank financed both the LAGBUS buses and over 400 BRT buses plying various routes on Lagos roads. It is our hope

that the bank would expand this experience beyond Lagos so that people living in other parts of Nigeria will also benefit from their benevolence,� he said. Earlier in his goodwill message, the General Manager of the bank, Mr. Emmanuel Emefienim commended the ministry for hosting the conference, adding that the forum would provide a platform for exchange of ideas needed for the transformation of the sector He added: ‘’The ministry must be commended for working tirelessly to develop a modern transport system that fully exploits the potentials of each mode, instead of the existing dependence on road transport, which accounts for nearly 95 per cent; reversing public Sector monopoly of major transport enterprises particularly Rail and Maritime which hitherto, attracted huge public funds, but suffered decay, mismanagement, inappropriate maintenance and poor service delivery; and Instituting a Private-Sector led transport system that is responsive to the needs of a

modern industrial economy.� Emefienim noted that Sterling Bank realised the urgent need for the intervention of the private sector in key sectors of the economy for meaningful impact as government alone cannot shoulder this huge responsibility bearing the dwindling revenue from its major source of income. He said: ‘’Even as we have already made landmark success in the mass transit transportation system through the LAGBUS and the BRT in Lagos, we are here at this conference to further explore the transportation sector to see how we can also make impact through financial services platforms and other partnerships. “We are prepared to reach out and engage with major stakeholders across the value chain in the sector during the two-day period and see how we can collaborate to fully understand the sector and the needs of the operators and, at the same time, identify opportunities and areas of potential impact.�

Ě™ Ěš

AUGUST 2017 Broad Money (M2)

21,851,454.31

Ě‹Ě‹ Ă‹ĂœĂœĂ™ĂĄ Ă™Ă˜Ă?ĂŁ Ě™ ÍŻĚš

9,890,813.10

---- Currency Outside Banks

ÍŻËœÍłÍ°ÍąËœÍ°ÍąÍˇË›ÍˇÍŻ

---- Demand Deposits

ÍśËœÍąÍ´ÍľËœÍłÍľÍąË›ÍŻÍˇ

-- Quasi Money

11,960,641.22

Net Foreign Assets (NFA)

9,732,990.89

Net Domestic Assets(NDA)

ÍŻÍ°ËœÍŻÍŻÍśËœÍ˛Í´ÍąË›Í˛Í° 26,821,446.81

Ě‹Ě‹ Ă?Ăž Ù×Ă?Ă?ÞÓĂ? ĂœĂ?ĂŽĂ“Ăž Ě™ Ěš Ě‹Ě‹Ě‹Ě‹ ĂœĂ?ĂŽĂ“Ăž ÞÙ Ùà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ě™ Ă?Þ̚

4,824,226.22

Ě‹Ě‹Ě‹Ě‹ Ă?Ă—Ă™Ë? ĂœĂ?ĂŽĂ“Ăž ÞÙ Ùà Þ˛ Ě™ Ă?Þ̚ Ă–Ă?Ă?Ă?

ÍľËœÍśÍąÍ˛ËœÍłÍąÍ´Ë›ÍľÍ˛

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

-3,010,310.52

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

21,997,220.59

--Other Assets Net

-14,702,983.39

Reserve Money (Base Money)

ÍłËœÍ˛ÍśÍ´ËœÍśÍŽÍ˛Ë›Í´Íł

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

ÍŻËœÍśÍ´ÍśËœÍľÍąÍłË›ÍŽÍľ

Ě‹Ě‹ Ă‹Ă˜Ă•Ă? Ă?Ă?Ă?ĂœĂ Ă?Ă?

3,268,266.17 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

MANAGED FUNDS Month

AUGUST 2017

Inter-Bank Call Rate

ͰͰ˛ʹ͹

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

ͯͲ˛͎͎

Treasury Bill Rate

ͯ͹˛͹ͳ

Savings Deposit Rate

Ͳ˛͎͜

1 Month Deposit Rate

͜˛͜ʹ

3 Months Deposit Rate

͎ͯ˛ͯͲ

6 Months Deposit Rate

ͯͯ˛ͳͯ

12 Months Deposit Rate

ͯͯ˛Ͳ͎

Prime Lending rate

ͯ;˛ʹ͡

Maximum Lending Rate

͹ͯ˛Ͱ͎ Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT, WED, DEC 20 2017 The price of OPEC basket of fourteen crudes stood at $62.16 a barrel on Wednesday, compared with $61.72 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY ˾ , DECEMBER 29, 2017

43

MARKET NEWS

Dangote Group Delights Investors with High Returns as Stocks Soar Goddy Egene and Nosa Alekhuogie

Alhaji Aliko Dangote to allow others to share out of his wealth. The four companies are: Dangote Cement Plc, Dangote Sugar Refinery Plc, Dangote Flour Mills Plc and NASCON Allied Industries Plc. An analysis of the performance of the companies in 2017 showed that their aggregate value has increased by 39 per cent from N3.082 trillion at the beginning of the year to N4.278 trillion.

The four companies under Dangote Group, that are listed on the Nigerian Stock Exchange(NSE) have delivered impressive returns to shareholders in the outgoing year. Dangote Group has four of its companies listed on the NSE, indicating the magnanimity of the President of the Group,

This also implies that the Dangote Group accounts for 32 per cent of the total value of the nation’s equities market. Market operators said this indicates that Dangote Group is responsible for over 30 per cent of the growth the equities market is enjoying. While the aggregate growth of the four stocks rose by 39 per cent, a further analysis of each stock showed that investors

recorded higher returns at the individual stock level. For instance, investors in Dangote Sugar Refinery Plc recorded a capital growth of 229 per cent as the stock soared from N6.11, at the beginning of the year to N20.15 as at Wednesday. Similarly, investors in Dangote Flour Mills Plc enjoyed a capital gain of 178 per cent, following a surge in the share price from N4.25 to N11.85, while

PRICES FOR SECURITIES TRADED AS OF

performance for the nine months ended September 30, 2017. Besides, Dangote Cement Plc has been attracting foreign portfolio investment into the economy. About $600 million was invested in the stock of Dangote Cement Plc this year. This is not only a vote of confidence in the company but also it signalled confidence in the Nigerian stocks and economy in general.

NASCON Allied Industries Plc fetched investors a return of 115 per cent as the stock rose from N8.50 to N18.34. Dangote Cement Plc recorded a growth of 32 per cent as the equity, which is the most capitalised on the exchange, grew from N173.99 to N230.50. The companies have been investors’ delight, posting impressive financial results. They recorded improved

A S AT 2 8 / 1 2 / 2 0 1 7

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES S/N 1

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

29

ZENITH INTERNATIONAL BANK PLC

800,610.59

25.50

-0.04

192

10,192,440

30

192

10,192,440

31

OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

MARKET CAP(Nm) 322,698.68

BANKING

BANKING S/N 2 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N 3 BUILDING MATERIALS INDUSTRIAL GOODS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 4 5 6 CROP PRODUCTION S/N 7 FISHING/HUNTING/ TRAPPING S/N 8 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 9 10 11 12 13 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N 14 BUILDING CONSTRUCTION S/N 15 16 INFRASTRUCTURE/ HEAVY CONSTRUCTION S/N 17 REAL ESTATE DEVELOPMENT S/N 18 19 20 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 21 AUTOMOBILES/AUTO PARTS S/N 22 23 24 25 26 BEVERAGES--BREWERS/DISTILLERS S/N 27 BEVERAGES--NONALCOHOLIC S/N 28

MARKET BUILDING MATERIALS CAP(Nm) DANGOTE CEMENT PLC 3,919,316.70

PRICE

%CHANGE

TRADES

VOLUME

32

8.99

0.33

409

45,710,682

33

409

45,710,682

34

601

55,903,122

35 FOOD PRODUCTS

PRICE

%CHANGE

TRADES

VOLUME

230.00

-0.22

22 22 22

3,997,835 3,997,835 3,997,835

623

59,900,957

S/N 36 37 FOOD PRODUCTS-DIVERSIFIED S/N 38

CROP PRODUCTION

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC

1,100.00

0.50

-

0

0

64,570.17 68,500.00

67.69 68.50

-

31 19 50

148,883 66,577 215,460

FISHING/HUNTING/TRAPPING ELLAH LAKES PLC.

MARKET CAP(Nm) 511.20

PRICE

%CHANGE

TRADES

VOLUME

4.26

-

0

0

0

0

LIVESTOCK/ANIMAL SPECIALTIES LIVESTOCK FEEDS PLC.

DIVERSIFIED INDUSTRIES A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC.

MARKET CAP(Nm) 2,550.00

39 HOUSEHOLD DURABLES S/N 40 41 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES S/N 42 43

PRICE

%CHANGE

TRADES

VOLUME

0.85

-2.30

15

302,065

44

15

302,065

65

517,525

45 46 47 48 49 50

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,853.10

0.70

-

1

10

194.58 2,111.93

0.50 3.25

-

0 0

0 0

58,939.59

1.45

-0.69

151

100,559,531

32,462.61

16.90

3.62

51 52 53 BANKING

52

739,988

204

101,299,529

S/N

204

101,299,529

54 55

BUILDING CONSTRUCTION ARBICO PLC.

MARKET CAP(Nm) 711.32

INFRASTRUCTURE/HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC. ROADS NIG PLC.

MARKET CAP(Nm) 36,960.00 165.00

REAL ESTATE DEVELOPMENT UACN PROPERTY DEVELOPMENT CO. LIMITED REAL ESTATE INVESTMENT TRUSTS (REITS) SKYE SHELTER FUND PLC UNION HOMES REAL ESTATE INVESTMENT TRUST (REIT) UPDC REAL ESTATE INVESTMENTTRUST

AUTOMOBILES/AUTO PARTS DN TYRE & RUBBER PLC

FOOD PRODUCTS DANGOTE FLOUR MILLS PLC

%CHANGE

TRADES

4.79

-

0

0

57

0

0

58

PRICE

%CHANGE

TRADES

VOLUME

59

28.00 6.60

-

42 0

791,960 0

60 61

42

791,960

62

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

63

6,937.72

2.67

-

5

8,020

64 65

5

8,020

%CHANGE

TRADES

VOLUME

100.00

-

0

0

68

11,305.89

45.22

-

0

0

69

26,682.70

10.00

-

0

0

0

0

47

799,980

MARKET CAP(Nm) 2,000.00

PRICE

MARKET CAP(Nm) 2,386.33

BEVERAGES--BREWERS/ MARKET DISTILLERS CAP(Nm) CHAMPION BREW. PLC. 15,658.99 GOLDEN GUINEA BREW. 242.22 PLC. GUINNESS NIG PLC 210,276.75 INTERNATIONAL BREWERIES 464,176.54 PLC. NIGERIAN BREW. PLC. 1,072,014.44 BEVERAGES--NON-ALCOHOLIC 7-UP BOTTLING COMP. PLC.

VOLUME

56

PRICE

MARKET CAP(Nm) 65,321.00 MARKET CAP(Nm) 59,300.00

66 67

70 71 72 73

PRICE

%CHANGE

TRADES

VOLUME

74

0.50

-

1

50

75

1

50

76

PRICE

%CHANGE

TRADES

VOLUME

2.00

-

3

3,270

0.89

-

0

0

96.00

-

34

126,512

54.00

-

12

81,628

135.20

0.87

PRICE

%CHANGE

101.97

-

79

318,240

77 78 79 INSURANCE CARRIERS, BROKERS AND SERVICES S/N

128

529,650

80

TRADES

VOLUME

81

4

42

MICRO-FINANCE BANKS

4

42

S/N

PRICE

%CHANGE

TRADES

VOLUME

82

11.86

0.08

130

3,109,112

83

DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC MULTI-TREX INTEGRATED FOODS PLC N NIG. FLOUR MILLS PLC. NASCON ALLIED INDUSTRIES PLC UNION DICON SALT PLC.

241,200.00

20.10

-0.25

61

1,611,053

74,869.49

28.53

0.60

55

5,515,588

16,812.02

2.12

-3.20

11

210,546 100

1,861.25

0.50

-

2

1,015.74

5.70

-

0

0

49,994.90

18.87

2.89

25

175,582

3,676.41

13.45

-

0 284

0 10,621,981

PRICE

%CHANGE

TRADES

VOLUME

15.67 1,485.00

-0.51 0.68

102 34

1,188,353 224,751

FOOD PRODUCTS--DIVERSIFIED CADBURY NIGERIA PLC. NESTLE NIGERIA PLC.

MARKET CAP(Nm) 29,431.43 1,177,094.53

136

1,413,104

HOUSEHOLD DURABLES

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

1,766.22

23.23

-

0

0

3,127.11

3.00

2.04

33

690,178

33

690,178

PRICE

%CHANGE

TRADES

VOLUME

20.60 40.22

-0.10 -

39 17

534,017 13,218

NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC. PERSONAL/HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

BANKING

MARKET CAP(Nm) 81,791.83 231,064.12

MARKET CAP(Nm) 302,875.86 34,508.98

ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL 311,942.37 INCORPORATED FIDELITY BANK PLC 70,988.25 GUARANTY TRUST BANK PLC. 1,192,845.69 JAIZ BANK PLC 18,562.48 SKYE BANK PLC 6,940.15 STERLING BANK PLC. 29,654.13 UNION BANK NIG.PLC. 127,233.42 UNITED BANK FOR AFRICA 352,254.04 PLC UNITY BANK PLC 6,195.35 WEMA BANK PLC. 19,287.23 INSURANCE CARRIERS, BROKERS AND SERVICES AFRICAN ALLIANCE INSURANCE COMPANY PLC AIICO INSURANCE PLC. AXAMANSARD INSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. EQUITY ASSURANCE PLC. GOLDLINK INSURANCE PLC GREAT NIGERIAN INSURANCE PLC GUINEA INSURANCE PLC. INTERNATIONAL ENERGY INSURANCE COMPANY PLC LASACO ASSURANCE PLC. LAW UNION AND ROCK INS. PLC. LINKAGE ASSURANCE PLC MUTUAL BENEFITS ASSURANCE PLC. N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. PRESTIGE ASSURANCE CO. PLC. REGENCY ALLIANCE INSURANCE COMPANY PLC SOVEREIGN TRUST INSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. STANDARD TRUST ASSURANCE PLC UNIC DIVERSIFIED HOLDINGS PLC. UNITY KAPITAL ASSURANCE PLC UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC

MICRO-FINANCE BANKS FORTIS MICROFINANCE BANK PLC NPF MICROFINANCE BANK PLC MORTGAGE CARRIERS, BROKERS AND SERVICES ABBEY MORTGAGE BANK PLC ASO SAVINGS AND LOANS PLC

56

547,235

642

13,802,240

PRICE

%CHANGE

TRADES

VOLUME

10.47 1.49

0.19 -0.67

120 66

9,475,216 4,841,288

17.00

-

33

143,608

2.45 40.53 0.63 0.50 1.03 7.49

-1.61 0.07 4.04 -

147 134 7 8 36 39

42,249,900 10,875,999 987,500 355,065 3,997,613 286,991

10.30

0.78

260

31,328,852

0.53 0.50

3.92 -

3 10 863

82,674 291,402 104,916,108

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

10,292.50

0.50

-

0

0

3,673.01

0.53

1.89

28

4,021,910

21,210.00

2.02

-

6

265,484

3,000.00

0.50

-

0

0

14,521.84

1.40

-

6

36,462

7,364.75

0.50

-

2

150

7,000.00 2,411.47

0.50 0.53

-

2 0

5,675 0

1,913.74

0.50

-

0

0

3,070.00

0.50

-

1

100

642.04

0.50

-

0

0

3,661.72

0.50

-

5

264,717

3,308.17

0.77

4.05

4

252,550

5,280.00

0.66

-4.35

10

208,500

4,000.00

0.50

-

0

0

8,396.00

1.59

1.92

11

8,409,319

3,869.74

0.50

-

2

5,050

2,759.15

0.50

-

0

0

3,334.38

0.50

-

0

0

4,170.41

0.50

-

1

3,000

6,455.52

0.50

-

0

0

4,670.54

0.50

-

1

4,950

1,291.15

0.50

-

0

0 100

6,933.33

0.50

-

1

8,000.00

0.50

-

0

0

6,825.20

0.51

-

17

62,955

97

13,540,922

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

11,799.67

2.58

-

0

0

2,858.30

1.25

-

9

19,213

9

19,213

PRICE

%CHANGE

TRADES

VOLUME

MARKET CAP(Nm) 5,460.00 7,370.87

1.30

-

0

0

0.50

-

0

0

˾ FRIDAY, DECEMBER 29, 2017

44

Nigeria Daily Stock Market Report:

THISDAY AFRINVEST 40 INDEX

ThisDay Afrinvest Index Gains 34bps The ThisDay Afrinvest index gained 34bps yesterday to close at 1,533.40 points. Yesterday͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ĐĂŶ ďĞ ůĂƌŐĞůLJ ĂƩƌŝďƵƚĂďůĞ ƚŽ ƵƉƟĐŬƐ ŝŶ GUARANTY (+0.1%), NIGERIAN BREWERIES (+0.9%), and NESTLE ;нϬ͘ϳйͿ ǁŚŝĐŚ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϯϴ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘ dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ ŝŶĚĞdž ŚĂƐ ƌĞƚƵƌŶĞĚ ϱϯ͘ϯй zd ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Market Rebounds on Broad-based Rally in Stocks... NSE ASI up 27bps dŚĞ ůŽĐĂů ďŽƵƌƐĞ ƌĞǀĞƌƐĞĚ ŝƚƐ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ĨƌŽŵ ƚŚĞ ƉƌĞǀŝŽƵƐ session as the All Share Index (ASI) rose 27bps to close at 37,990.74 ƉŽŝŶƚƐ ǁŚŝůĞ zd ŐĂŝŶ ĂĚǀĂŶĐĞĚ ƚŽ ϰϭ͘ϰй͘ ZĞƐƵůƚĂŶƚůLJ͕ ŝŶǀĞƐƚŽƌƐ ŐĂŝŶĞĚ Eϯϲ͘ϬďŶ ĂƐ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĞdžƉĂŶĚĞĚ ƚŽ Eϭϯ͘ϱƚŶ͘ dŽĚĂLJ͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ĐĂŶ ďĞ ůĂƌŐĞůLJ ĂƩƌŝďƵƚĞĚ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŽďƐĞƌǀĞĚ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ĂůƚŚŽƵŐŚ WAPCO (+4.7%), NIGERIAN BREWERIES (+0.9%) and NESTLE ;нϬ͘ϳйͿ ǁĞƌĞ ƚŚĞ ŵĂũŽƌ ĚƌŝǀĞƌƐ͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϮϮ͘ϳй ƚŽ ϯϮϮ͘ϯŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ϳϭ͘ϱй ƚŽ Eϯ͘ϲďŶ͘

Bullish Sector Performance WĞƌĨŽƌŵĂŶĐĞ ĂĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁĂƐ ďƵůůŝƐŚ ĂƐ Ăůů ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ƚƌĞŶĚĞĚ ŶŽƌƚŚǁĂƌĚƐ͘ dŚĞ /ŶĚƵƐƚƌŝĂů /ŶĚĞdž ůĞĚ ƚŚĞ ŐĂŝŶĞƌƐ ĐŚĂƌƚ͕ ƌŝƐŝŶŐ ϭ͘ϱй ĐŽŶƐĞƋƵĞŶƚ ŽŶ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ WAPCO (+4.7%). dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž ƚƌĂŝůĞĚ͕ ƵƉ ϭ͘ϭй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƵƉƟĐŬƐ ŝŶ TOTAL (+5.0%) and MOBIL ;нϰ͘ϵйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ŐĂŝŶĞĚ Ϭ͘ϱй ŽŶ ƌĞŶĞǁĞĚ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ NIGERIAN BREWERIES (+0.9%) and NASCON (+2.9%) while GUARANTY (+3.7%) and STERLING ;нϮ͘ϵйͿ ƉƵůůĞĚ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž Ϭ͘ϭй ŚŝŐŚĞƌ͘ dŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž closed today͛Ɛ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ŇĂƫƐŚ͘

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐŝŐŶŝĮĐĂŶƚůLJ ƐƚƌĞŶŐƚŚĞŶĞĚ ĨƌŽŵ Ϭ͘ϲdž ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ ĚĂLJ ƚŽ 3.1x - Ϯϱ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϴ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ƉĞƌĨŽƌŵĞƌƐ ƚŽĚĂLJ were CUTIX (+5.0%), MOBIL (+5.0%) and TOTAL ;нϰ͘ϴйͿ ǁŚŝůĞ LINKASSURE (-4.3%), HONEYFLOUR (-3.2%) and LIVESTOCK (-2.3%) led laggards. Following today͛Ɛ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ĂŶĚ ƚŚĞ ƐŝŐŶŝĮĐĂŶƚ ŝŵƉƌŽǀĞŵĞŶƚ ŝŶ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ǁĞ ƌĞ-ŝƚĞƌĂƚĞ ŽƵƌ ƉŽƐŝƟǀĞ ƐŚŽƌƚƚĞƌŵ ŽƵƚůŽŽŬ ĨŽƌ ƚŚĞ ĞƋƵŝƚLJ ŵĂƌŬĞƚ ĂƐ ǁĞ ƉƌŽĐĞĞĚ ƚŽ ƚŚĞ ĮŶĂů ƚƌĂĚŝŶŐ session of the year.

Company in Focus: AXA MANSARD INSURANCE PLC y DĂŶƐĂƌĚ /ŶƐƵƌĂŶĐĞ ƉůĐ ŝƐ Ă ŵĞŵďĞƌ ŽĨ ƚŚĞ y 'ƌŽƵƉ͕ ƚŚĞ ǁŽƌůĚǁŝĚĞ ůĞĂĚĞƌ ŝŶ ŝŶƐƵƌĂŶĐĞ ĂŶĚ ĂƐƐĞƚ ŵĂŶĂŐĞŵĞŶƚ͕ ǁŝƚŚ ϭϲϲ͕ϬϬϬ ĞŵƉůŽLJĞĞƐ ƐĞƌǀŝŶŐ ϭϬϳ ŵŝůůŝŽŶ ĐůŝĞŶƚƐ ŝŶ ϲϰ ĐŽƵŶƚƌŝĞƐ͘ y DĂŶƐĂƌĚ /ŶƐƵƌĂŶĐĞ ǁĂƐ ŝŶĐŽƌƉŽƌĂƚĞĚ ŝŶ ϭϵϴϵ ĂƐ Ă ƉƌŝǀĂƚĞ ůŝŵŝƚĞĚ ůŝĂďŝůŝƚLJ ĐŽŵƉĂŶLJ ĂŶĚ ŝƐ ƌĞŐŝƐƚĞƌĞĚ ĂƐ Ă ĐŽŵƉŽƐŝƚĞ ĐŽŵƉĂŶLJ ǁŝƚŚ ƚŚĞ EĂƟŽŶĂů /ŶƐƵƌĂŶĐĞ ŽŵŵŝƐƐŝŽŶ ŽĨ EŝŐĞƌŝĂ ;E / KDͿ͘ dŚĞ ŽŵƉĂŶLJ ŽīĞƌƐ ůŝĨĞ and non-ůŝĨĞ ŝŶƐƵƌĂŶĐĞ ƉƌŽĚƵĐƚƐ ĂŶĚ ƐĞƌǀŝĐĞƐ ƚŽ ŝŶĚŝǀŝĚƵĂůƐ ĂŶĚ ŝŶƐƟƚƵƟŽŶƐ ĂĐƌŽƐƐ EŝŐĞƌŝĂ ǁŚŝůƐƚ ĂůƐŽ ŽīĞƌŝŶŐ ĂƐƐĞƚͬŝŶǀĞƐƚŵĞŶƚ ŵĂŶĂŐĞŵĞŶƚ ƐĞƌǀŝĐĞƐ͕ ŵĞĚŝĐĂů ŝŶƐƵƌĂŶĐĞ ƐŽůƵƟŽŶƐ ĂŶĚ ƉĞŶƐŝŽŶ ĨƵŶĚ ĂĚŵŝŶŝƐƚƌĂƟŽŶ ƚŚƌŽƵŐŚ ŝƚƐ ƚŚƌĞĞ ƐƵďƐŝĚŝĂƌŝĞƐ y DĂŶƐĂƌĚ ,ĞĂůƚŚ >ŝŵŝƚĞĚ͕ y DĂŶƐĂƌĚ /ŶǀĞƐƚŵĞŶƚƐ >ŝŵŝƚĞĚ ĂŶĚ y DĂŶƐĂƌĚ WĞŶƐŝŽŶƐ >ŝŵŝƚĞĚ͘ dŚĞ ĐŽŵƉĂŶLJ ǁĂƐ ůŝƐƚĞĚ ŽŶ ƚŚĞ EŝŐĞƌŝĂ ^ƚŽĐŬ džĐŚĂŶŐĞ ŝŶ EŽǀĞŵďĞƌ ϮϬϬϵ ĂŶĚ ŚĂƐ DĂƌŬĞƚ ĂƉŝƚĂůŝnjĂƟŽŶ ŝŶ ĞdžĐĞƐƐ ŽĨ EϮϴ͘ϬďŶ ƚŚĞ ůĂƌŐĞƐƚ ŽĨ ĂŶLJ ŝŶƐƵƌĂŶĐĞ ĐŽŵƉĂŶLJ ŽŶ ƚŚĞ EŝŐĞƌŝĂŶ ^ƚŽĐŬ džĐŚĂŶŐĞ͘

THISDAY AFRINVEST 40

Investors͛ ƐĞŶƟŵĞŶƚ ŚĂƐ ďĞĞŶ ůĂƌŐĞůLJ ƵŶĐŚĂŶŐĞĚ ƐŝŶĐĞ ƚŚĞ ƌĞůĞĂƐĞ ŽĨ ƚŚĞ ƌĞƐƵůƚ ĚĞƐƉŝƚĞ ǁĞĂŬĞƌ Yϯ ĞĂƌŶŝŶŐƐ͘ tĞ ƐƟůů ƌĞŵĂŝŶ ĐŽŶĮĚĞŶƚ ŽĨ ƚŚĞ ŵĞĚŝƵŵ-ƚĞƌŵ ŽƵƚůŽŽŬ ŽĨ ƚŚĞ ĐŽŵƉĂŶLJ ŐŝǀĞŶ ŝŶĐƌĞĂƐŝŶŐ ŝŶƐƵƌĂŶĐĞ ƉĞŶĞƚƌĂƟŽŶ ĂŶĚ ŝŵƉƌŽǀŝŶŐ ĨƵŶĚĂŵĞŶƚĂůƐ ŽĨ ƚŚĞ ŶŽŶ-ŝŶƐƵƌĂŶĐĞ ďƵƐŝŶĞƐƐĞƐ ŽĨ D E^ Z ͘ ,ĞŶĐĞ͕ ǁĞ ĐƵƌƌĞŶƚůLJ ƌĂƚĞ ƚŚĞ ƐƚŽĐŬ hDh> d ͕ ĂƐ ǁĞ ďĞůŝĞǀĞ ƚŚĞƌĞ ŝƐ ĂŶ ƵƉƐŝĚĞ ƉŽƚĞŶƟĂů ĨŽƌ ĐĂƉŝƚĂů ĂƉƉƌĞĐŝĂƟŽŶ͘ D E^ Z ŚĂƐ Ă zd ƌĞƚƵƌŶ ŽĨ ϮϮ͘ϴй͘

(A Dealing Member of the Nigerian Stock Exchange)

Previous Current Price Weighting Change

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divinden Earnings d Yield Yield

1,533.40

0.34%

53.3%

53.3%

20.1%

6.3%

7.2x

0.9x

3.9%

10.9%

Guaranty Trust Bank PLC

40.53

0.1%

21.4%

64.1%

64.1%

26.0%

4.3%

8.4x

2.1x

5.1%

11.9%

2

Nigerian Brew eries PLC

135.20

0.9%

9.3%

-8.6%

-8.6%

18.9%

8.6%

33.3x

6.1x

2.6%

3.0%

3

Zenith Bank PLC

25.50

0.0%

13.0%

72.9%

72.9%

21.7%

3.2%

5.0x

1.0x

7.9%

19.8%

4

Dangote Cement PLC

230.00

-0.2%

6.3%

32.2%

32.2%

30.4%

15.7%

15.9x

4.5x

3.7%

6.3%

5

Nestle Nigeria PLC

1,485.00

0.7%

7.7%

83.3%

83.3%

78.4%

19.0%

38.7x

25.6x

1.7%

2.6%

0.0%

4.5%

78.4%

78.4%

15.1%

2.0%

4.2x

0.6x

6.2%

23.6%

0.8%

5.6%

128.9%

128.9%

17.2%

2.2%

4.5x

0.8x

7.3%

22.1%

14.6x

0.5x

2.2%

6.8%

0.6x

3.6%

-20.4%

6.8x

2.2%

6

Access Bank PLC

10.47

7

United Bank for Africa PLC

10.30

8

FBN Holdings Plc

9

Ecobank Transnational Inc

8.99

0.3%

5.7%

168.4%

168.4%

2.6%

0.3%

17.00

0.0%

2.9%

65.4%

65.4%

-14.6%

-1.3%

45.00

4.7%

1.7%

16.1%

16.1%

47.1%

9.8%

596.40

0.0%

2.1%

57.0%

57.0%

-12.4%

-6.7%

Unilever Nigeria PLC

40.22

0.0%

1.5%

26.4%

26.4%

50.3%

8.4%

24.8x

9.4x

0.2%

4.0%

13

Stanbic IBTC Holdings PLC

41.50

0.0%

2.9%

176.7%

176.7%

28.7%

3.4%

9.6x

2.5x

1.4%

10.5%

14

Guinness Nigeria PLC

96.00

0.0%

1.3%

22.1%

22.1%

4.5%

1.4%

67.5x

3.4x

0.7%

5.99

0.0%

1.3%

27.4%

27.4%

40.7%

4.2%

2.7x

0.6x

43.48

0.0%

10

Lafarge Africa PLC

11

SEPLAT Petroleum Development C

12

4.0x

0.8x

24.8% -17.5%

1.5%

15

Oando PLC

16

Forte Oil PLC

0.5%

-48.5%

-48.5%

44.3%

3.7%

11.0x

4.9x

17

11 PLC

186.95

4.8%

0.5%

-33.0%

-33.0%

32.6%

12.0%

9.9x

2.8x

4.3%

10.1%

18

Total Nigeria PLC

229.95

37.0%

5.0%

0.5%

-23.1%

-23.1%

37.3%

7.4%

8.6x

3.0x

2.6%

11.7%

0.0%

11.1%

9.1%

19

Okomu Oil Palm PLC

67.69

1.1%

68.5%

68.5%

37.4%

25.9%

9.0x

2.9x

2.2%

20

UAC of Nigeria PLC

16.90

3.6%

0.6%

2.4%

2.4%

6.3%

2.2%

10.8x

0.7x

5.8%

9.2%

21

Conoil PLC

28.00

0.0%

0.3%

-25.3%

-25.3%

12.8%

3.5%

8.1x

1.1x

11.1%

12.3%

22

Fidelity Bank PLC

2.45

-1.6%

1.3%

191.7%

191.7%

8.0%

1.1%

2.1x

0.4x

5.7%

46.8%

23

Dangote Sugar Refinery PLC

20.10

-0.2%

1.4%

229.0%

229.0%

23.8%

10.3%

7.8x

3.4x

2.5%

12.8%

24

Flour Mills of Nigeria PLC

28.53

0.6%

0.7%

68.1%

68.1%

10.4%

2.6%

7.8x

0.8x

3.2%

12.7%

3.93

0.0%

0.4%

1.0%

18.9%

7.6%

101.97

0.0%

0.3%

-21.0%

-21.0%

-56.7%

-13.9%

4.9x

28.00

0.0%

0.3%

-27.4%

-27.4%

-12.2%

-1.2%

1.5x

0.5%

28.2%

28.2%

3.8%

0.6%

4.1x

0.2x

25

Custodian and Allied Insurance

26

7 UP Bottling Co PLC

27

Julius Berger Nigeria PLC

28

FCMB Group Plc

1.41

3.7%

29

Transnational Corp of Nigeria

1.45

0.0%

0.6%

66.7%

66.7%

19.6%

4.1%

5.8x

1.0x

30

Diamond Bank PLC

1.49

0.0%

0.6%

69.3%

69.3%

2.5%

0.3%

6.0x

0.1x

31

Presco PLC

68.50

0.0%

0.5%

70.8%

70.8%

42.9%

25.9%

3.4x

1.2x

2.2%

29.6%

32

PZ Cussons Nigeria PLC

20.60

-0.1%

0.4%

42.1%

42.1%

10.7%

5.0%

19.5x

2.0x

2.4%

5.1%

33

International Brew eries PLC

54.00

0.0%

0.8%

191.9%

191.9%

24.6%

7.4%

56.5x

12.9x

34

Cadbury Nigeria PLC

15.67

-0.5%

0.4%

52.3%

52.3%

4.5%

1.6%

44.7x

2.6x

2.2%

35

Union Bank of Nigeria PLC

7.49

0.0%

0.4%

56.9%

57.0%

5.6%

1.2%

9.6x

0.5x

10.4%

36

Chemical and Allied Products P

37

Sterling Bank PLC

38

GlaxoSmithKline Consumer Niger

-8.1% 7.1%

16.6%

1.8%

0.0%

0.2%

6.3%

6.3%

84.3%

38.5%

14.8x

10.4x

4.0%

0.2%

35.5%

35.5%

6.1%

0.6%

5.4x

0.3x

21.61

0.0%

0.2%

37.2%

37.2%

61.2%

23.6%

4.5x

1.6x

1.4%

0.0%

0.1%

21.0%

21.0%

11.9%

3.9%

10.1x

1.2x

2.5%

0.0%

0.1%

41.4%

41.4%

9.6%

4.4%

8.2x

0.8x

AXA Mansard Insurance PLC

40

Continental Reinsurance PLC

1.40

T o p 10 G a in e r s

6.5%

6.7% 18.4% 22.3% 9.9% 12.2%

T o p 10 T r a d e s b y V o l u m e

P ric e

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

2.10

5.0%

T R A N SC OR P

100.6

0.0%

T OT A L

229.95

5.0%

FB NH

45.7

0.3%

M OB IL

186.95

4.8%

F ID ELIT YB K

42.2

-1.6%

45.00

4.7%

UB A

31.3

0.8% 3.7%

WA P C O

24.4% 17.3%

1.03

39

C UT IX

-16.5%

34.00

2.02

LA WUN ION

0.77

4.1%

FCM B

16.0

ST ER LN B A N K

1.03

4.0%

GUA R A N T Y

10.9

0.1%

T R A N SEXP R

0.78

4.0%

Z EN IT H B A N K

10.2

0.0%

UN IT YB N K

0.0%

0.53

3.9%

A C C ESS

9.5

FCM B

1.41

3.7%

N EM

8.4

1.9%

UA C N

16.90

3.6%

F LOUR M ILL

5.5

0.6%

P ric e

P ric e C hg %

Value

P ric e C hg %

LIN KA SSUR E

0.66

-4.3%

D A N GC EM

919.5

-0.2%

H ON YF LOUR

2.12

-3.2%

GUA R A N T Y

440.5

0.1%

LIVEST OC K

0.85

-2.3%

FB NH

411.0

0.3%

333.8

0.7%

321.1

0.8%

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s T ic k er

T ic k er

F ID ELIT YB K

2.45

-1.6%

N EST LE

C A D B UR Y

15.67

-0.5%

UB A

D A N GSUGA R

20.10

-0.2%

Z EN IT H B A N K

259.9

0.0%

230.00

-0.2%

F LOUR M ILL

157.5

0.6%

20.60

-0.1%

T R A N SC OR P

145.8

0.0%

F ID ELIT YB K

103.0

-1.6%

A C C ESS

99.2

0.0%

D A N GC EM PZ

Afrinvest Securities Limited (RC 603 315)

Current Price

1

T ic k er

/Ŷ ŝƚƐ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ ƌĞůĞĂƐĞĚ ŝŶ KĐƚŽďĞƌ͕ 'ƌŽƐƐ WƌĞŵŝƵŵ tƌŝƩĞŶ ĂŶĚ 'ƌŽƐƐ WƌĞŵŝƵŵ /ŶĐŽŵĞ ŐƌĞǁ ϯϯ͘Ϯй ĂŶĚ Ϯϴ͘ϳй z-o-z ƚŽ EϮϮ͘ϲďŶ ĂŶĚ Eϭϵ͘ϲďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ ,ŽǁĞǀĞƌ͕ ƉƌĞ-ƚĂdž ƉƌŽĮƚ ĨĞůů Ϯϯ͘ϰй z-o-Y to EϮ͘ϴďŶ ǁŚŝůĞ EĞƚ DĂƌŐŝŶ ǁĞĂŬĞŶĞĚ ϲ͘ϱ ƉĞƌĐĞŶƚĂŐĞ ƉŽŝŶƚƐ ;ƉƉƚƐͿ z-o-Y ƚŽ ϭϯ͘ϰй ĚƵĞ ƚŽ ĐŽƐƚ ƉƌĞƐƐƵƌĞƐ ƌĞŇĞĐƚĞĚ Ă ϲ͘ϬƉƉƚƐ z-o-Y increase in ŽŵďŝŶĞĚ ZĂƟŽ ƚŽ ϴϭ͘Ϯй͘ ZĞŝŶƐƵƌĂŶĐĞ džƉĞŶƐĞ ƐƵƌŐĞĚ ϯϳ͘ϱй z-o-Y to Eϵ͘ϯďŶ ǁŚŝůĞ EĞƚ ůĂŝŵƐ /ŶĐƵƌƌĞĚ ƌŽƐĞ Ϯϳ͘ϱй z-o-z ; ůĂŝŵƐ ZĂƟŽ ƌŽƐĞ ϭ͘ϰƉƉƚ ƚŽ ϱϵ͘ϭйͿ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ džƉĞŶƐĞ ƌĂƟŽ ĐůŝŵďĞĚ ϰ͘ϳƉƉƚ ƚŽ ϮϮ͘ϭй ĂƐ hŶĚĞƌǁƌŝƟŶŐ džƉĞŶƐĞ ƌŽƐĞ ϱϳ͘ϵй z-o-Y to N3.5bn. For Q3: 2017 ƐƚĂŶĚĂůŽŶĞ͕ ƚŚĞ ƌĞƐƵůƚ ǁĂƐ ĂůƐŽ ƵŶĚĞƌǁŚĞůŵŝŶŐ ĂƐ 'ƌŽƐƐ WƌĞŵŝƵŵ tƌŝƩĞŶ ĚĞĐůŝŶĞĚ ϵ͘ϭй Y-o-Y ƚŽ Eϰ͘ϲďŶ ǁŚŝůĞ ZĞŝŶƐƵƌĂŶĐĞ ĂŶĚ hŶĚĞƌǁƌŝƟŶŐ džƉĞŶƐĞ ƌŽƐĞ ϰ͘ϯй ĂŶĚ ϭ͘ϵй Y-o-Q to N3.3bn and N3.4bn ƌĞƐƉĞĐƟǀĞůLJ͘ ůƚŚŽƵŐŚ ϭϯ͘ϴй Y-o-Y ĚĞĐůŝŶĞ ŝŶ EĞƚ ůĂŝŵƐ /ŶĐƵƌƌĞĚ ƉĂƌƚůLJ ŽīƐĞƚ ŝŵƉĂĐƚ ŽŶ ŵĂƌŐŝŶƐ͕ W d ĨĞůů ϲϮ͘ϱй Y -o- Y ƚŽ EϱϮϲ͘ϱŵ ĨƌŽŵ N1.4bn in Q2:2017.

Friday, December 29, 2017

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

45

˾ FRIDAY, DECEMBER 29, 2017

MARKET NEWS

TrustBond Records Impressive Results amidst Economic Challenges Bennett Oghifo TrustBond Mortgage Bank Plc was able to record impressive performance for the financial year ended December 31, 2016. This was disclosed by the Chairman of the bank, Etigwe Uwa said this at the 8th annual general meeting (AGM) of the company in Lagos. Uwa noted that 2016 will be remembered for a long time as a difficult year when oil price dropped considerably and inflation

rose to the highest point. “The control of macroeconomic variables became very challenging in 2016, making it the worst recorded since the crash of oil prices in the mid-2014,” he noted. Despite the challenges, TrustBond Mortgage Bank posted gross earnings of N1.413 billion, up by 24 per cent from N1.142 billion recorded in 2015. The profit after tax (PAT) and other comprehensive income jumped by 446 per cent from N26.28 million

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

in 2015 to N143.6 million in 2016. Customers’ deposits grew by 10 per cent to N2.319 billion, from N2.108 billion recorded in 2015, while total assets also grew by 19 per cent to N12.416 billion, from N10.022 billion. Uwa assured shareholders that although 2017 will present challenges and uncertainties within the political, regulatory, economic and business climate, they remain optimistic. “Given our strategic

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 27Dec-2017, unless otherwise stated.

positioning, we continue to grow our core mortgage banking business to ensure continuous contribution to home-ownership in Nigeria,” he said. Also speaking, the Chief Executive Officer of TrustBond Mortgage Bank, Adeniyi Akinlusi, attributed the performance to the commitment of their staff and the support of the board of directors. According to him, financial advisory also impacted positively on their overall performance.

“This compensated for the loss of income from real estate activities. All these were achieved in a period the economy slid into recession and within a challenging macro-economic environment”, he said. The CEO noted that the bank’s greatest competitive edge is its people. “We appreciate the work that they do as well as the passion and commitment they bring into the workplace,” he said. Akinlusi explained the bank looks forward to a

better performance in 2017. “Nigeria is already out of recession and the economy is already on slow but steady journey to recovery from the impact of the recession,” he said. The shareholders commended the board and management of the bank for their impressive performance but lamented their inability to pay dividend. Akinlusi, however, blamed the nondividend payment on the financial restructuring the bank is undergoing.

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 180.91 182.36 42.74% Nigeria International Debt Fund 235.18 236.77 11.37% 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 0.82 0.83 17.46% ACAP Income Funds 0.64 0.64 83.27% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 19.65% 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 18.74 19.30 51.76% ARM Discovery Fund 390.09 401.85 35.84% ARM Ethical Fund 27.42 28.24 22.72% ARM Money Market Fund 1.00 1.00 17.93% 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 151.28 152.35 43.83% AXA Mansard Money Market Fund 1.00 1.00 17.31% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 18.68% Paramount Equity Fund 12.07 12.38 28.96% Women's Investment Fund 98.08 100.60 15.94% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 18.01% CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 18.40% Coronation Balanced Fund 1.09 1.11 9.65% Coronation Fixed Income Fund 1.03 1.06 4.32% FBN QUEST 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 1,146.63 1,147.80 12.76% FBN Heritage Fund 138.13 139.48 24.45% FBN Money Market Fund 100.00 100.00 17.90% FBN Nigeria Eurobond (USD) Fund - Institutional $113.31 $113.40 9.55% FBN Nigeria Eurobond (USD) Fund - Retail $112.67 $112.77 9.67% FBN Nigeria Smart Beta Equity Fund 169.71 171.85 50.75% 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 1.41 1.44 51.60% Legacy Short Maturity (NGN) Fund 2.98 2.98 16.06% 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 2,977.87 3,015.75 35.34% Coral Income Fund 2,466.42 2,466.42 18.32% 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 16.79% 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 17.50% Vantage Balanced Fund 2.10 2.13 25.06%

Vantage Guaranteed Income Fund 1.00 1.00 18.41% Kedari Investment Fund (KIF) 115.08 115.08 18.61% 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 1.20 1.22 20.86% Lotus Halal Fixed Income Fund 1,052.29 1,052.29 11.60% 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 13.93 14.05 44.15% Meristem Money Market Fund 10.00 10.00 18.73% 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 1.25 1.27 25.17% PACAM Fixed Income Fund 11.00 11.07 5.87% PACAM Money Market Fund 10.00 10.00 12.80% 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 124.73 126.80 23.02% 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 1.48 1.48 19.02% 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 2,251.49 2,237.63 22.23% Stanbic IBTC Bond Fund 176.03 176.03 14.33% Stanbic IBTC Ethical Fund 1.00 1.01 30.52% Stanbic IBTC Guaranteed Investment Fund 220.07 220.07 17.75% Stanbic IBTC Iman Fund 179.57 177.28 36.55% Stanbic IBTC Money Market Fund 100.00 100.00 16.96% Stanbic IBTC Nigerian Equity Fund 9,619.92 9,735.32 26.88% Stanbic IBTC Dollar Fund (USD) 1.07 1.07 7.00% 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 1.33 1.35 18.99% United Capital Bond Fund 1.55 1.55 26.87% United Capital Equity Fund 0.92 0.94 36.77% United Capital Money Market Fund 1.00 1.00 17.07% 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 12.74 12.92 18.21% Zenith Ethical Fund 13.45 13.60 7.88% Zenith Income Fund 19.00 19.00 14.87%

REITS NAV Per Share

Yield / T-Rtn

11.41 132.46

1.01% 6.85%

Bid Price

Offer Price

Yield / T-Rtn

11.84 143.00 108.97

11.94 146.12 111.07

36.92% 44.56% 43.84%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 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

4.72 9.64 17.91 19.92 148.45

4.76 9.72 18.01 20.12 150.45

70.36% 36.92% 51.11% 24.74% 16.86%

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.

46

T H I S D AY FRIDAY DECEMBER 29 2017

47

FRIDAY DECEMBER 29, 2017 ˾ T H I S D AY

WORLD OF ISLAM INTERNATIONAL

email:foreigndesk@thisdaylive.com

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

The Ideal Society: Allah-Created George Weah is Liberia’s Resources, Human Effort President-elect Fayose hails poll, rejects Obasanjo’s mediating role and the Quranic Way of Life Victor Ogunje in Ado Ekiti

Mansoor Alam/IslamiCity

T

here are verses in Surah Al-Waaqi‘ah that present a contrast between human effort and Allah-provided resources in a clear, direct, succinct, and interesting way. Sustenance is the joint product of Allah-created resources and human effort. When these two combine then we have an output that sustains human life. Allah gives natural resources and humans provide the effort. The Quran states, (56:63 )– “Have you ever considered the seed which you cast upon the soil? – You throw the seed in the ground. Nevertheless, after that, do you grow the seed or We do:(56:64 ) – “Is it you who caused it to grow - or are We the cause of its growth?” Allah is asking us here: from the seed you throw to the ground, do you produce the shoot or do We (i.e., Our law does)? Allah gives us a simple and clear example, which no one can deny. What part of the contribution is yours? You tilled the ground, prepared the soil, applied fertilizer and sowed the seed. Up until this point, this is your effort. Now tell us, after this, who produces the shoot from the seed? Who turns it into a plant? Do you do it or do We? Remember, this happens according to Our law. If it were not for Our law then it would not be possible for anything to grow from the seed. It is also possible that the seed grows into a plant and then burns and is destroyed (56:65-66). In this case, instead of producing 700 grains from every seed, even your original seeds will be destroyed. Tell us, if Our law does not aid your efforts then what is possible based on your efforts alone (56:68)? Then, the Quran further questions: The water upon which your life depends, do you produce it from the rain or does Our law produce it (56:69)? Think about it! Our drinking water depends on rainfall – drinking water fit for human consumption is derived from the oceans’ waters. This global system of waterworks, Allah has created for humans: from fountains, from wells and canals that humans dig, these are all fine, but the water itself, who created it? Humans put effort into creating different water systems but they did not produce the water itself? Allah produced it. Farming depends upon water. There will be no farming if there is no water. Allah asks humans: Do you ever ponder on Our comprehensive system of waterworks – from the oceans’ water – which humans cannot drink even one sip – how the Sun’s rays lift pure vaporized water leaving behind all the chemicals and salts in the oceans. This water is then carried in the form of clouds that travel great distances. If all that water in the clouds were to drop again into the oceans in the form of rain and it does not reach where it is needed, then what will happen? Have you pondered on all these things? Our winds – yes, humans did not produce the winds either! – come and take these clouds from here to there where pure and fresh water is needed. Moreover, We store extra water in the form of snow which melts for your use in summer. When the snow melts the ground and rivers are replenished with fresh water. Now, be honest and tell us: To whom do all these systems of waterworks with perfect delivery mechanisms belong? Consider the firewood which humans burn and derive so many benefits (56:71). Is the fire created by humans? Yes, humans take advantage of this fire in different ways but who put the ability of fire inside the wood? Have you pondered on that fact – where the secret flames came from inside the green branches of trees (56:72)? Putting the fire deep inside the veins of dry branches—is

it of human creation or of Our law’s? This, you must not forget and always keep in front of you (56:73). This was a joint enterprise between humans and Allah. Humans provided the effort and Allah provided the resources. Only then the output was produced. Therefore, according to honest and ethical business practice we must divide the result of this common business. You take your share according to your expended effort, however, the basic investment was Ours. All this We have described to you to explain what is at stake here. Give Us Our due share. Then only you will be considered an honest and fair businessperson. You ask Me: Sir, Thou are not in front of us; nor Thou eat or drink; so to whom do we give Thine share? Give to the needy: (Mataa-‘allilmuqween) (56:74). Give it to the hungry. It will reach Us. (Mataa‘a) are the things that a traveler takes with him on a trip, but only as much as is necessary for survival – no more than that and never for hoarding. This is what the Quran said 1400 years ago: ((43:35. Everything in/ on earth that supports life is called “Mata‘a” by the Quran. This represents a great reality. The root of “Mata‘a” means: “things of utility, things that support the basic needs of life; things that are only for utility and not for hoarding.” It most certainly does not mean “property”. The Quran always uses it as “utility value”. How much one can eat and how much one can use things to support one’s life – these are limited. Human needs are limited but human greed is unlimited. Since capitalism is based on greed, it leads to a vicious mentality of unending greed of multiplying and counting wealth. This greed for hoarding more and more for its own sake drives humans mad and does not let them rest in peace. The Quran says that this continues until they reach their graves:( 102:1-2 ) – You are obsessed by greed for more and more until you go down to your graves. What makes you oblivious to the real goal of humankind? The obsession, avarice and rivalry to amass wealth. Capitalism creates classes based on wealth. If this remains then how can humanity ever become one brotherhood? People living under capitalism in just one country cannot become one brotherhood, let alone becoming universal brotherhood of humankind under capitalism. Think about it – those living in palatial homes in gated communities and those living in debilitated worn-out huts in shanty towns can they ever become one brotherhood? The truth is (according to Iqbal): Capitalist vultures metamorphose themselves in every age Though humanity has grown old, the devils are still young! Gunnar Myrdal, a Swedish Nobel Laureate economist, in his book “Beyond the Welfare State” called for a universal welfare system that breaks down all national barriers. He suggests that the only way to establish such a system would be to establish a world government in which there are no national boundaries or class distinctions between people; where human beings are free to live anywhere they want; and are free to move anywhere at their pleasure to meet the basic needs of life. From the political point of view, this means establishment of a single sovereign one-world government. From humanity’s point of view, this means establishment of the highest form of human equity and dignity. As long as the condition of the world is such that half of the world is rich and the rest of the half poor, universal human brotherhood cannot be attained. According to the shining hadith of the Prophet (PBUH) – “In any town, if a single person sleeps hungry then Allah pulls His hands of protection from that town.”

Ex-football superstar, George Weah, was yesterday announced the winner of Liberia’s presidential run-off, beating Vice President Joseph Boakai in the first democratic transfer of power in decades following two devastating civil wars. Weah is set to replace incumbent Ellen Johnson Sirleaf, who took over at the helm of Africa’s oldest republic in 2006. The National Election Commission (NEC) said Weah had won an insurmountable 61.5 per cent of Tuesday’s vote, which was delayed several weeks after a legal challenge from Boakai. The NEC said that with 98.1 per cent of all votes counted, Boakai had only secured 38.5 per cent support. Ahead of yesterday’s results, armed and helmeted police deployed outside the poll body’s headquarters and some of Weah’s supporters were already rejoicing. “The Liberian people clearly made their choice… and all together we are very confident in the result of the electoral process,” tweeted Weah before the official results were announced. Weah topped the first round of voting in October with 38.4 per cent of ballots but failed to win the 50 per cent necessary to avoid a run-off. Boakai came second with 28.8 per cent. Weah is the only African ever to have won FIFA’s World Player of the Year and the coveted Ballon d’Or. The 51-year-old starred at top-flight European football clubs Paris Saint-Germain and AC Milan in the 1990s before playing briefly in England for Chelsea and Manchester City later in his career. Chelsea icon, Didier Drogba, from neighbouring Ivory Coast already sent Weah a congratulatory message. “Is it President Weah?” said the New Dawn newspaper on Thursday, referring to a man who has the backing of heavyweights including former warlord Prince Johnson and apparently the covert support of outgoing president Sirleaf. Her office said it had set up a team “for the proper management and orderly transfer of executive power from one democratically elected president to another”, adding that it included several ministers.

Sirleaf’s predecessor Charles Taylor fled the country in 2003, hoping to avoid prosecution for funding rebel groups in neighbouring Sierra Leone. Two presidents who served prior to Taylor were assassinated. The tumultuous events of the past seven decades in Liberia, where an estimated 250,000 people died during back-to-back civil wars between 1989-2003, have prevented a democratic handover from taking place since 1944. UN Secretary-General, Antonio Guterres, hailed the “peaceful conduct” of the vote, praising “the government, political parties and the people of Liberia for the orderly poll.” The EU’s chief observer, Maria Arena, congratulated the candidates and the Liberian people on a peaceful vote that “generally respected constitutional rules”. The Economic Community of West African States (ECOWAS) regional bloc also hailed the peaceful nature of the vote. The election passedwithoutasingle majorincidentofviolencedespiteweeks ofdelayscausedbylegalchallengesand Liberianssaidtheywerelookingforward to a peaceful handover after 12 years under Sirleaf. “Since years of civil war this is the first time we see the transition of power from one person to another,” voter Oscar Sorbah told AFP. The Sirleaf administration, elected in 2005, guided the nation out of the ruins of war and through the horrors of the 2014-16 Ebola crisis, but is accused of failingtocombatpovertyandcorruption. Weah’s CDC party watched their icon miss out on the presidency in a 2005 bid. He was similarly frustrated when he ran for vice-president in 2011, but has repeatedly urged its young and exuberant supporters to keep cool. “No matter what the provocation will be, CDC will not respond with violence,” Jefferson Kotchie, head of the youth wing of the CDC, earlier told supporters assembled at the party’s headquarters. The run-off was delayed for seven weeks due to legal challenges lodged by Boakai’s Unity Party against the electoral commission over the conduct of the first round, but many of the complaints appeared to have been addressed in the second round. Meanwhile, Ekiti State Governor, Mr. Ayodele Fayose, has

I, formerly known and addressed as MISS IMABONG EDET EKANEM, now wish to be known and addressed as MRS IMABONG ABEDNEGO UMANAH. All former documents remain valid. PAL PENSION and the general public should please take note.

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congratulated the newly elected President of Liberia, George Opong Weah, describing him as someone destined by God to be president. He said “I salute George Weah’s courage and resilience in spite of the activities and machinations of oppressors and interlopers who blocked his victory 12 years ago. Because the likes of former President Olusegun Obasanjo are not God, George Weah has been able to achieve his destiny through the grace and power of God and I wish him a successful tenure.” Meanwhile, Fayose has joined other Nigerians to pray for the speed recovery of President Buhari’s son, Yussuf who was involved in a power bike accident. The governor, who also described the United Nation’s (UN) choice of Obasanjo as a mediator in Liberia as misplaced, pointed out that “Someone like Obasanjo, who was at the center of the manipulation of Weah’s electoral victory 12 years ago should not be the one to mediate now that he (Weah) has secured the victory that he was denied then.” Speaking through his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose urged the All Progressives Congress (APC) led federal government and particularly the Independent National Electoral Commission (INEC) to learn from what happened in Liberia and allow the will of the people to prevail in 2018 and 2019 elections. He said “the emergence of Weah as Liberia President 12 years after he was short-changed by those who wielded power at that time is a further confirmation that that there is no God in man.” Governor Fayose called on the UN Secretary-General, António Guterres to withdraw the nomination of Obasanjo as a mediator in Liberia, noting that; “Obasanjo, who was a major actor in the Liberia’s 2005 election crisis lacked moral rights to be a mediator in the affairs of that country now that it had the first peaceful transfer of power from one democraticallyelected leader to another in more than 70 years.

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FRIDAY DECEMBER 29, 2017 ˾ T H I S D AY

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Okonkwo Asks Court to Stop Anambra Central Rerun Election Alex Enumah in Abuja The candidate of the Peoples Democratic Party (PDP) for Anambra Central senatorial district, Dr. Obiora Okonkwo, yesterday asked the Abuja division of the Federal High Court (FHC) to stop the Independent National Electoral Commission (INEC) from conducting the rerun for te district in January 2018. He also asked the court to sentence the Chairman of INEC, Prof. Mahmoud Yakubu, to jail for his alleged refusal to obey its order. Justice John Tsoho of the FHC, Abuja had in a judgment delivered on December 12 directed INEC to issue Certificate of Return to Okonkwo after the court declared him the lawful candidate for the Anambra Central senatorial district. But as at the time of filing this report, INEC was yet to comply with the court’s directive. Okonkwo, however, through Form 48, which is notice for consequences of disobedience to order of court marked FHC/ ABJ/CS/1092/14 and filed by his counsel, Sabastine Hon (SAN), commenced contempt of court proceedings against INEC for failing to issue him certificate of return. According to the document, “Take notice that unless you obey the decisions contained in the consent judgment of this honourable court made by Justice John Tsoho on December 13, 2017, already served you on December 19, 2017, you will be guilty of contempt of court and will be liable to be committed to prison.” Meanwhile, Okonkwo also yesterday asked the Abuja division of the Federal High Court to stop INEC from conducting the re-run election for the senatorial seat scheduled for January 13, 2018, having been declared the winner of that election by a competent court of law. In the suit marked FHC/ABJ/ CS/ 1294/2017 filed yesterday at the registry of the court, the plaintiff is asking the court to declare as invalid in law, null and void, all the processes leading to and consequent upon the scheduled rerun election,

including announcement of results, declaration of the ‘winner,’ issuing of certificate of return to the ‘winner’ and the determination of an election petition or election petitions against any of the defendants. The suit which was filed on his behalf by his counsel has 29 defendants, including INEC, Chief Victor Umeh, All Progressives Grand Alliance (APGA), Flint Ikechukwu Obiekwe, United Progressive Party (UPP), Senator Chris Ngige, All Progressives Congress (APC), Oyeh Mercy Uche, Accord Party (AP), Hon. Oby Kate Okafor, Advanced Congress of Democrats (ACD), Chief Anayo Nweke, African Democratic Congress (ADC), Christopher Chukwendu, Citizens Popular Party (CPP), Okafor Ikechukwu, Independent Democrats (ID), Chief Dennis Oguguo, Kowa Party (KP) and Kingsley Nwafor. Others are Ekweozoh Nkem, Mega Progressive Peoples Party (MPPP), Ubakamma Ikenna, National Conscience Party (NCP), Rev. Charles Ekwueme, People For Democratic Change (PDC), Igwilo Michael and Progressive Peoples Alliance (PPA). The plaintiff is seeking an order declaring that in view of the fact that he has already been declared by the Federal High Court, in suit No FHC/ ABJ/CS/ 1092/2014, the senatorelect representing the Anambra Central senatorial district, coupled with the fact that appeals Nos. SC.997/2017 are to knowledge of INEC pending at the Supreme Court, the defendants are not competent in law to present themselves or to participate in the scheduled for January 13, 2018, rerun election for the Anambra Central senatorial district or on any other rescheduled date. He further sought an order of perpetual injunction restraining all the defendants from presenting themselves or permitting themselves to be presented as candidates/participating political parties in any rerun election (to be) conducted by INEC for Anambra Central senatorial district, as he has already been declared the winner of that election in preelection suit No FHC/ABJ/CS/

Masari Sacks Education Commissioner Katsina State Governor, Aminu Bello Masari, has relieved the state Commissioner for Education, Professor Halimatu Sa’adiya Idris, of her appointment with immediate effect. The governor said the sack of Idris is to pave way for the appointment of active politicians to fasten the activity of governance in the state. Senior Special Assistant to the governor on Media, Abdu Labaran Malumfashi, said in a statement that the sack of Idris was contained in a letter personally signed by the governor, thanking her for the services she rendered to the state as Commissioner of Education. Makumfashi said in the letter titled: ‘Letter of appreciation and disengagement’, dated

December 21, 2017, Masari said her “contributions for the development of the education sector in particularly and the government in general can not be over emphasised.” The governor said during her term as commissioner, “schools were rehablitated and upgraded, new ones were constructed, teachers were trained and the atmosphere made more conducive for learning and teaching.” Masari said further that taking into account the fact that political activities leading to elections would commence early next year, “it has become necessary for the government to bring more active politicians on board so as to fasten activities of governance.

1092/2014, which decision has not been set aside. Some of the issues for determination by the court are that: “Whether, by virtue of section 287 (3) and other relevant provisions of the constitution of the Federal Republic of Nigeria 1999 (as amended), in view of the interlocutory ruling of the Federal High Court in suit No. FHC/ABJ/ CS /1092/ 2014, delivered on March 9, 2016, to which, the 1st defendant (INEC) was a party and against which there is no appeal, wherein it was held that the judgment of the Court of Appeal, Enugu division, in appeal No. CA/E/ EPT/28/2015 did not disqualify

the plaintiff from contesting the March 2015 senatorial election into the Anambra Central senatorial district coupled with the final decision in the said suit No FHC/ ABJ/ CS /1092/ 2014, delivered on December 13, 2017, wherein the plaintiff was declared the winner of that senatorial election, the 1st defendant (INEC) is right in law to order a rerun election in the same Anambra Central senatorial district. “Whether, by virtue of section 287 (3) and other relevant provisions of the constitution of the Federal Republic of Nigeria 1999 (as amended), in view of the final judgment of the Federal High Court in pre-election suit

No FHC/ABJ/CS/1092/2014 to which the 1st defendant was a party and had submitted voluntarily to judgment, and in which the plaintiff, by a combination of all the orders made therein, was declared the winner of the March, 2015 election as Senator representing the Anambra Central Senatorial District, the 1st defendant is right in law to order a rerun election in the Anambra Central senatorial district. “Whether by virtue of sections 6(1) and (2) (a) and (b), 233, 235 and other relevant provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended), the decision of the 1st defendant to undertake or conduct a rerun election on

the basis of the judgment of the Court of Appeal in appeal No. CA/A/160/2016, delivered on 20/11/2017, notwithstanding that the PDP- the political party that has sponsored the plaintiff in the first place- had had its appeals Nos. SC.997/2017 and SC.998/2017 already entered at the Supreme Court and served on the 1st defendant and motions on notice seeking to stay execution of the said judgment of the Court of Appeal, in appeal No CA/A/160/2016, also pending at the Supreme Court and served on the 1st defendant, is right and correct in law. No date has been fixed for the hearing of the suits.

WE HAVE DONE OUR PART

Borno State Governor Kashim Shettima (left), handing over the 2018 budget document to the Speaker of the state House of Assembly, Abdulkarim Lawan, after its presentation...in Maiduguri ....yesterday

14 Inmates Re-arrested in Akwa Ibom Jail Break FCT frees 114 prison inmates in spirit of yuletide Okon Bassey in Uyo and Olawale Ajimotokan in Abuja Prison authorities yesterday confirmed that 14 inmates out of 47 that escaped from the Ikot Ekpene prisons in Akwa Ibom State have been arrested by the prison guards with a committee in place to probe the incident. The state Controller of Prisons, Alex Oditah, who disclosed this said those rearrested were seen within the Ikot Ekpene Local Government Area where the prison is located. He said efforts are being made to ensure the remaining 33 still at large are located and arrested to complete their jail term. Sources alleged that the jail break recorded in the prisons could have been masterminded by some high profile convicts who were serving their imprisonment including those who murdered the former Deputy Speaker of the State House of Assembly The prison with the capacity of 400 inmates, sources said was already overstretched with over 800 inmates. However, the state Controller

of Prisons said the cause of the incident could not be ascertained yet explaining that a three-man committee has been set up to unravel the remote and immediate causes of the problem. He stressed that the findings of the committee would give a clue to the cause of the jail break whether it was an insider arrangement or not. Oditah maintained that no stone would be left unturned in establishing the fact behind the crisis that led to the jail break. Last Wednesday, inmates serving various jail terms and some awaiting trial at the Ikot Ekpene Prisons initiated jail break which led to the killing of four persons while 47 others escaped The inmates were said to have launched attack on kitchen staff of the prisons seizing an axe from fellow inmate attached to the kitchen and inflicted a deep cut on the head of their colleagues. The prisoners reportedly broke the rear entrance door to the prison with the axe and engaged the staff that chased them in battle.

“At the end of the scuffle, four of them that sustained gunshots lost their lives, while seven were recaptured 36 are still at large and search parties have been activated to effect their recapture,” official statement from the prison service had said. Meanwhile, prison inmates totalling 114 yesterday breathed an air of freedom after their court fines were paid by the FCT Administration. FCT Minister, Malam Muhammad Musa Bello, announced the reprieve, when the Presidential Committee on Prison De-congestion visited the Kuje Medium Security, to review cases of inmates who have either been fined but could not pay the stipulated fines or have stayed beyond the terms which their offenses could have attracted by law. A statement by Abubakar Sani, the Special Assistant (Media) to FCT Minister said the gesture by the FCT administration was part of efforts to de-congest the prisons and assist the freed inmates to reintegrate back into the society. The minister was represented at the event by the FCT

Permanent Secretary, Christian Chinyeka Ohaa. He assured the FCT Administration would continue to partner presidential committee to identify and support indigent inmates who do not have the means to pay the fines imposed on them. He said the administration has been partnering with the Nigerian Prison Service to design and build new prison facilities in the territory, adding that about 36.3 hectares of land has been earmarked for the building of a new prison in Abuja. Bello also revealed that locations have been identified in the six area councils to build correctional centres for youths, adding that the centres would be dedicated solely for underage inmates rather than putting them together with high profile criminals in prisons. In addition to the 114 inmates freed by the FCT minister, 10 were also freed by the Attorney General and Minister of Justice, Abubakar Malami, and one each by PLAC, a non-governmental organisation and Hajiya Naja’atu Mohammed, bringing the total of 126 inmates freed.

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Enugu, Osun, Borno Present 2018 Budgets to Assemblies Ogun assembly cuts appropriation by over N1.4bn Christopher Isiguzo in Enugu, Yinka Kolawole in Osogbo and Femi Ogbonnikan in Abeokuta Governors Ifeanyi Ugwuanyi of Enugu State, Kashim Shettima of Borno State and Rauf Aregbesola of Osun State yesterday presented the 2018 budgets to their respective Houses of Assembly. While Ugwuanyi presented N98.6billion, Shettima had N170billion and Aregbesola submitted NN173.8billion. In Enugu State, the budget estimate is 6.7 per cent less than 2017 estimate of N 105.1 billion.

The budget tagged: ‘Budget of Sustainable Economic Growth’, has N37.84 billion for capital expenditure while N60, 776 billion is for recurrent expenditure. Ministry of Works leads sectoral allocations with N10.4 billion, followed by education with N6.238 billion. Others are; health, N3.7 billion; rural development N2 billion; housing, N1.18 billion; water resources, N782 million; agriculture, N707 million; and commerce and industry, N250 million. On expected receipts, Ugwuanyi said the state government would get N43billion from statutory allocation

257 Libya Returnees Arrive Lagos Chinedu Eze Less than 24 hours after a batch of 157 Nigerian returnees from Libya arrived Lagos on Wednesday, another batch of 257 returnees arrived Lagos at about 6.05p.m yesterday. They arrived the cargo Wing of Murtala Muhammed International Airport MMIA, Ikeja, aboard the Afriqiyah Airbus A330-300 with registration number 5A-OMR. The returnees comprise 152 adults females and 82 adult males including nine

children and 14 infants with one medical cases making a total of 414 within 24 hrs. The journey was facilitated by the International Organisation for Migration IOM just as they were received by National Emergency Management Agency (NEMA), and other relevant agencies. The repatriation exercise spearheaded by IOM with a special assistant from the European Union (EU) has brought the total number to 6, 672 from January to 28th, December, 2017.

and N2.5 billion from internally generated revenue. In Osun State, Aregbesola said the appropriation bill, Aregbesola said the budget was designed to consolidate on his achievements and leave an enduring legacy of the people of the state, adding that the budget was also to finally fulfill its six integral action plan. He said 2018 would be a year of consolidation and complementation of his administration’s achievements in the last seven years. According to him, the budget was billed to effectiveness, actualisation and realisation of the manifestoes of the All Progressives Congress (APC), noting that the 2017 budget was 42.8 per cent implemented of paucity of fund. Aregbesola said the 2018 budget is N27,347,336,027 higher than that of 2017, disclosing that the appropriation bill would be financed with the share of the state Federal Allocation, Internally Generated Revenue (IGR) and other sources of income.

A break down showed that education got 14.87 per cent while health sector has 2.5bn per cent of the budget. He maintained that education is important and essential to his administration, hence his determination to reconstruct and rebuild the education sector, promote functional education at all levels in the state. In Borno State, Governor Shettima in his budget tagged: ‘Budget of Resettlement and Empowerment’, was less than that of 2017 by N13.560 billion or 7.38 per cent. He explained that the capital expenditure was allocated N108,408,580 billion while recurrent vote got N61,870,934 billion. Shettima disclosed that the budget would be financed from projected Internally Generated Revenue (IGR) of N16,075,548 billion; allocation from the Federation Account of N115,734,194 billion, and Capital Receipt of N38,469,772 billion.

Major highlights of the budget showed that education got the highest allocation of N27 billion. However, in Ogun State House of Assembly yesterday reviewed the 2018 Appropriation Bill with a reduction of N1,434,500,000 from the initial N345,418,462 earlier presented to it a month ago by the state Governor, Senator Ibikunle Amosun. The passage of the over N343 billion budget saw to the adjustments in the recurrent expenditures of nine agencies, just as four other agencies also had their capital expenditures adjusted, while revenue targets of nine agencies, including the proposed external loans were also adjusted. The passage of the bill was sequel to the presentation of the report of the House Committee on Finance and Appropriation led by Hon. Akanbi Bankole, who thereafter moved the motion for its adoption, seconded by Hon. Israel Jolaoso and supported by the whole House through a voice vote.

According to the report, capital expenditure was slashed from N223.721billion to N222.881 billion, resulting in a difference of N840million, while the total revenue target was raised from over N345.418billion to over N343.983billion giving a reduction of over N1.434billion. The bill was thereafter read clause- by- clause before the members by Speaker Suraju Ishola Adekunbi, while the Minority Leader, Olawale Alausa, moved the motion for the third reading, which was seconded by Hon. Jimi Otukoya and the Clerk of the House, Mr. Lanre Bisiriyu did the third reading of the bill. Passing the bill, Speaker Adekunbi commended his colleague- lawmakers and the entire members of staff for their support and dedication to duty which led to the speedy passage of the Appropriation bill and later directed that the clean copy of the bill be sent to the governor for his assent.

Gani Adams: Nigeria in Trouble Without Restructuring James Sowole in Akure The Aare Ona Kakanfo of Yorubaland, Chief Gani Adams, yesterday reiterated the need to restructure Nigeria in line with true federalism, saying “without restructuring Nigeria will continue to be in trouble.” Adam spoke in Akure, Ondo State capital when he visited leaders of the Pan Yoruba Socio Political Organisation, Afenifere at the residence of its National Leader, Chief Reuben Fasoranti. The Yoruba Generalissimo, said evidences on ground had shown that Nigeria cannot get out of myriads of problems under the current structure. “I believe that without restructuring, Nigeria cannot move forward. I have been listening to some people talking about constitutional review, what kind of review are they talking about? “The constitution that was written by 26 army officers. When you see that constitution, you will know that it is a fraud from the beginning. They said: “We, the people of Federal Republic”, who are the we, the 26 officers out of about two hundred million people in the country,” Adams said. He said delegates at the 2014 National Conference had done the needful with their recommendations that were yet to be implemented by President Muhammadu Buhari. “We recommended 633 contexts to move this country forward but

I don’t know the body language of Mr. President that refused to implement the outcome of that conference. “We are giving them two options. We are not saying that it is a must for them to implement the 2014 National Conference recommendations. We said let us go back to the basis, how we got this independence on the basis of federation in 1960. “We have the option of merging the 1960 with 1963 constitution, so that we can have true federation that can easily solve the problems of the country. “Now, more than 15 states cannot pay the salary of their workers. How long shall we continue to be borrowing money to pay salary not to talk of infrastructure development? Look at this year budget, federal government cannot implement 30 per cent of the budget; I know that we are in trouble if this country is not restructured. I will continue to be agitating for restructuring until it is done,” the generalissimo said. Adams, who commended the country contributions of Fasoranti and other leaders of Afenifere to the course of the Yoruba Nation and Nigeria, lauded the Alafin of Oyo, Oba Lamidi Adeyemi for his appointment. He said the foremost traditional ruler had once again solidified the unity of Yoruba land because this is the first time that somebody from Ondo/Ekiti axis would be appointed.

RUBBING MINDS

L-R: Former Minister of Transport, Dr. Abiye Sekibo; Rivers State Governor, Nyesom Ezenwo Wike; and Senator George Sekibo during a special meeting with Bolo people at the Bolo Civic Centre, Ogo/Bolo Local Government Area ....Tuesday

Fuel Crisis: FG must Revisit Forex Policy for Marketers, Says Senator Hammed Shittu in Ilorin Worried by the sufferings being experienced by Nigerians with the lingering fuel scarcity, the Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Adebayo Ibrahim, yesterday urged the federal government to revisit its foreign exchange policy for dealers in the downstream sector of the oil industry. Ibrahim, who represents Kwara South Senatorial District in the National Assembly, disclosed this to journalists in Offa, during the inauguration of the newly renovated Offa Library for the people of the area. The Senator also inaugurated nine other projects like boreholes,

transformers, among others for the people of Ajase-Ipo, Ganmo, Osi, Ilofa, Omu-Aran and Erinle communities that make up the Kwara South senatorial district of the state. He said fuel marketers’ complaints that the landing cost of imported premium motor spirit (PMS) would no longer enable them to sell fuel at the official price of N145 per litre should be looked into. The legislator noted that though the state of the nation’s economy does not guarantee special rate for foreign exchange, government and stakeholders in the oil industry must work out new template to lessen the burden on the marketers. He, however, urged the government not to see the call to address the anomaly in foreign

exchange policy for oil marketers as a way of increasing the pump price of PMS, saying that the effects on the masses must also be taken into cognisance Senator Ibrahim expressed optimism that the lingering crisis which precipitated the shortage of fuel supply, would fizzle out soon. The legislator also assured that the National Assembly would collaborate with the executive to ensure that the problem of fuel shortage is addressed. “That (foreign exchange) is the major problem. You can see that even the GMD of NNPC talked about the figures about the landing cost. “So, that means the marketers cannot be blamed; they have been operating probably unprofitably,

I mean the major marketers and importers. “ That is why the government must look at it holistically to make sure the template they are using in bringing oil is profitable to the marketers and we are able to maintain the price that we agreed with the masses. “And I know the government, the marketers and the regulators are working 24/7 to make sure we actualise that. And I believe very soon, it would become something of the past”, Ibrahim said. On the commissioned projects, the banker turned politician said it was part of the policy of the political structure he belongs to embark on community development projects so as to improve the living condition of the people.

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Labour Party Queries $1bn ECA Withdrawal for only Boko Haram Fight Hammed Shittu in Ilorin The Labour Party (LP) yesterday queried the rationale behind the approval for the release of $1billion from the Excess Crude Account (ECA) to prosecute the fight against insurgency alone. The party said the decision to vote such whopping sum for only insurgency smacks of suspicion when funds earmarked for crucial sectors like education are grossly insufficient going by globally recognised standards. The National Chairman of the party, Mr. Mike Omotosho, in a statement issued in Ilorin, Kwara State, yesterday, wondered why the government would only think of spending the huge fund on the fight against Boko Haram when other issues including abject poverty and hunger are severely ravaging the land. “Take education for instance, university lecturers have been paid half salaries since December 2015 and are being owed N619billion quoting ASUU,” the LP national chairman said. Omotosho questioned the approval for the withdrawal of the fund coming at a time when the federal government claimed it had decimated Boko Haram terrorists, saying the idea for the release of the

money was ill conceived and makes the government appear unresponsive to the cries of the masses even as security is imperative across the entire country. Omotosho said his party had taken stock of reactions of ordinary Nigerians across divides, and maintained that in as much as it was the duty of the government to budget fund for security, the sum of $1billion was outrageous especially for a country that allocates a mere seven per cent to education while other African countries’ education budget are in double digits. The Nigerian Governors’ Forum (NGF) recently announced its approval for the federal government to withdraw the sum of $1billion from the ECA to enable the government procure military hardware and other logistics for the ongoing counter insurgency in the Northeast. Omotosho said: “Nigeria is running a democracy where government is expected to not just be accountable but also be transparent so that they can gain the trust of the people, who he added, are the cornerstone of any democratic administration. “As a party that cares about the welfare of the people, we know the importance of winning

Brickbats as Police Arrest Ondo Ex-commissioner James Sowole in Akure Temper rose yesterday in Owo, headquarters of Owo Local Government Area of Ondo State, following the arrest by the state police command of a chieftain of Peoples Democratic Party (PDP) and a former Commissioner for Culture and Tourism, Hon. Femi Adekanmbi. Adekanmbi, was arrested few hours to the annual thanksgiving organised by him which also coincided with the inauguration of a water fountain he financed in his hometown, Owo. The arrest of the former commissioner sparked anger among his political followers in the town, who accused the State Governor, Mr. Rotimi Akeredolu, as responsible for the act. But the Ondo State Commissioner for Information and Orientation, Mr. Yemi Olowolabi, described the allegation against the governor as unfounded, saying “the governor is too busy with developmental projects and programmes for the people of the state than to engage in political vendetta. “Akeredolu is a politician who believes in equality, justice and fair play and would not engage in such kind of politics or political vendetta. “If Adekanmbi has been invited by the state police command, he should try and honour the invitation rather than pointing fingers towards the direction of the

state governor. “Let him clear his name and tell the police what he knows about what he was invited for.” Speaking on his arrest at the State Criminal Investigation Department (CID) office, in Akure, Adekanmbi expressed shock accusing Akeredolu, of political vendetta. He said: “This is a clear case of political vendetta and an attempt to silence political opponents. This is not about political gathering or rally, but an annual thanksgiving which has been in existence for over 10 years.” Adekanmbi said he was surprised when he was referred to the state CID and learnt his arrest was in connection with a petition written against him over a fracas in Owo last November . “No arrest or intimidation can silence me and my followers. This will not affect my love for my people and the urge to bring development to the ancient town of Owo. I am ready to work hand in hand with any individual or organisation towards developing Owo town, irrespective of their political beliefs or leaning. The state Police Public Relations Officer, (PPRO) Mr. Femi Joseph, said the former commissioner was not arrested by the command but was invited to clear the air over an issue. Joseph assured that the PDP chieftain in Owo would be released immediately the command concludes its findings.

the fight against Boko Haram insurgency in the Northeast, because of the colossal damage and ruins it has done to our nation. “While we appreciate the federal government for showing

the willingness to prosecute the fight against insurgents with the deployment of the armed forces, we cannot afford to keep mum on what concerns us all as a people. “In a country that is grappling

with abject poverty and hunger, the government is duty bound to use such huge sum not only for security but education and other crucial sectors that are currently begging for attention. Government’s claim of deploying

such fund to security in the North east alone when million of people are losing jobs daily and civil servants are being owed salaries amongs other ills is antithetical to equal opportunity and social justice.”

77 HEARTY CHEERS

Major General Olu Bajowa (rtd), and his wife, Oluyemi at the 77th birthday celebration of the General at their residence in Igbotako, Okitipupa Local Government Area of Ondo State.....yesterday

How NigerianVarsities Can Rank Best in Africa Nigerian universities can rank best in Africa, if we can have a stable academic calendar, Prof. Oluwatoyin Ogundipe, the Vice-Chancellor, University of Lagos, has said. Ogundipe spoke with the News Agency of Nigeria (NAN) yesterday in Lagos against the backdrop of incessant strikes by labour unions in the nation’s university system. According to him, there is need for everyone, especially the key stakeholders in the education sector to look inward to ensure that crisis which gives rise to strikes are managed effectively. “I make bold to say that universities, especially the first generation institutions in the country, can be ranked best in Africa if we can have a stable academic calendar. “There is need for everyone

to look inward and manage the crisis in the system effectively so that our university system can be ranked among the best in the world,’’ Ogundipe said. He said, t there was need for Nigerian Government too to take the running of universities and other related issues seriously. “If you want to run a university, you should go all out and do it in line with the best practices. “We are talking about the global ranking of universities, and here we are still grappling with the issues of strike.’’ The VC noted that such development do not speak well about the country as “lots of people around the world are reading and taking note of it’’. He explained that most of the facilities that would guarantee conducive teaching and learning

environment were being handled by non-academic (support) staff that were on strike. Ogundipe added that with the strike, their academic staff counterparts and others were now forced to adjust to the situation. “The strike has affected the operations of the university indirectly,’’ he said. According to him, issues of power and water supply, the use of laboratory and others have taken their toll on the operations of the university. “I am sure that the academic staff will be up to their assignments. “This group of staff is not on strike; the classrooms are open, lectures are going on since the inception of NASU strike. “Even, as we resumed on Dec. 27, lectures have started in most faculties in Unilag. “The non-teaching staff has

their grievances; the strike is a national strike and not a local one. “To this effect, there is little the university authorities can do,’’ the vice-chancellor said. The unions, under the aegis of JAC, had on September11 declared an indefinite strike across all the federal universities over the non-implementation of an agreement they entered into in 2009 with the federal government The strike was suspended while dialogue continues between the parties, only to embark on another strike on December 5. Mr. Solomon Ugwoke, the National President of JAC, who also doubled as the president of SSANU, one of the striking unions, had stated that there was no going back on the strike.

Boroh: Rice Project, Best Initiative of Amnesty Programme The production of the Presidential Amnesty Rice is perhaps the best initiative undertaken so far by the Presidential Amnesty Programme (PAP), the Special Adviser to the President on Niger Delta and Coordinator of the Presidential Amnesty Programme, Brig-General Paul Boroh (rtd), has said. Boroh, who spoke when he received the first 500 bags of the Amnesty Rice in Abuja, said the Presidential Amnesty rice is coming handy this yuletide season and that the target was to commence full production in 2018, which would provide jobs for

thousands of people, contribute to food self-sufficiency and security in the country, and grow the economy, as well as save some foreign exchange for the country. In a statement issued by the Head, Media, Presidential Amnesty Programme, Owei Lakemfa, he stated that before the agriculture revolution of the Buhari administration, the country expended $2.41 billion on the importation of rice alone between January 2012 and May 2015. Boroh noted that the Presidential Amnesty Rice, cultivated in Ogoja, Cross River State is the beginning

of similar initiatives by the Amnesty Office to massproduce rice in the Niger Delta, adding that some beneficiaries of the Amnesty Programme are now cultivating rice in Delta, Bayelsa and Rivers States. According to him, locally-produced rice is tastier and more nutritious than the imported rice which is over polished. “The Amnesty rice is also healthier for consumption as most of the imported rice are stored in warehouses for long periods before being freighted for months across

oceans to our country,” he argued. Boroh urged more people to go into rice cultivation and production, adding that “with over 180 million mouths to feed and the growing preference for rice, the country is a huge market and can accommodate many more producers. “We can actually move from being a net importer of rice to a net exporter of rice. Weaning many Nigerians from their preference for imported rice, and the sustained promotion and consumption of local rice is a winner any day,” the presidential aide said.

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Military Launches Operation Jagunlabi to Fight Vandalism, Crude Oil Theft in Lagos Backwaters To partner Operation Delta Safe to curb militancy Chiemelie Ezeobi The joint taskforce (JTF) comprising the Nigeria Navy, Air Force

and Army, yesterday launched Operation Jagunlabi, a show of force, on the Lagos backwaters to combat the increasing menace of

EKEDC Celebrates Amoda at Retirement, Book Launch The management of Eko Electricity Distribution Company (EKEDC) was full of appreciation to their former Managing Director/ Chief Executive Officer (CEO), Oladele Amoda, who retired from the company after 35 years of meritorious service, while he also used the epoch event to launch his auto-biography. The 800-seater capacity hall of Eko Hotel & Suites, Victoria Island in Lagos was filled to the brim with dignitaries across all sectors in attendance to honour the outgoing helmsman of the firm. Amoda joined the defunct Nigeria Electric Power Authority (NEPA) in 1983 as an engineer served in various capacity within the organisation until his appointment as MD/CEO of EKEDC in 2011 and the quality of guests confirmed the respect and regards the celebrant commanded in the sector. Aside celebrating his exit from EKEDC, the occasion also afforded Amoda the opportunity to launch his autobiography titled: ‘Forget Not His Benefits’, a book that showcases the lifetime, lifestyle, strengths and weaknesses of the celebrant. Leading traditional rulers to the event was the Oba of Lagos, Oba Rilwan Akinolu, as well as the

paramount ruler of Iperu in Ogun State, Oba Tijani Adetunji Akinloye, the Alaperu of Iperu-Remo. Also the board of directors of EKEDC led by its Chairman, Mr. Charles Momoh, was duly represented. The chairman described Amoda as a visionary man whose contribution to the company cannot be underestimated. To emphasis the vital role that Amoda can still play with EKEDC, Momoh at the event also announced the immediate appointment of Amoda as an adviser to the board. From former colleagues and subordinates, the goodwill and diligence of Amoda became the cynosure of all eyes at the colourful event. Even the Lagos State Governor, Akinwunmi Ambode, was represented at the event by member of the Lagos State House of Assembly, Desmond Elliot. Reviewing the book, the reviewer, Ola Odutola, described the book as a chronicle of the life of the celebrant, which he said could inspire the future generation. The presentation of the book was conducted by the Senior Pastor of Trinity House Church, Lekki, Pastor Ituah Ighodalo, who also prayed for the celebrant and his family.

pipeline vandalism and crude oil theft. The exercise, which is an offshoot of the ongoing Operation AWATSE (an Hausa word for scatter), was kicked off to further solidify the gains of the JTF in battling vandalism and crude oil theft in Lagos creeks and backwaters. The exercise, which was kicked off by the Flag Officer Commanding, Western Naval Command, Rear Admiral Slyvanus Abbah, at the naval outpost in Majidun area of Ikorodu, saw the JTF patrol both the waters and the land around that area. Abbah was joined by the Air Officer Commanding, Logistics Command, Air Vice Marshal Ibrahim Yahaya; the General Officer Commanding, Major General Peter Dauke and the Commander, NNS Beecroft, Rear Admiral Maurice Eno. The maritime operation kicked off from Majidun creek and saw the apenal gunboats patrol to Ebute waterside, Ibeshe ferry jetty and moved to Oworonsoki jetty before heading back to the base. For the patrol route for the show of force, the ground forces also took off from Majidun and stormed the Ikorodu garage roundabout, Ibeshe junction, Ibeshe Ilaje, Imota,

Ishawo and rendezvoused back at the naval outpost. Not ruling out aerial bombardment by the AirForce if need be, the FOC said the joint patrol means the three arms of services will pull resources and manpower together to tackle the menace of pipeline vandalism and crude oil theft. Harping on the importance of intelligence gathering, Abbah who addressed the troops before the exercise began said they are to mix up with civilians in order to get them to loosen up. He said, “Operation AWATSE has been an on- going operation and if you are in Lagos I think this is the most peaceful festive period you have ever had in Lagos. “We have been working tirelessly before now. Before now, you know the criminals have been carrying out their nefarious act at the high sea; which is sea robbery.” Abbah also said the components of Operation Awatse will partner Operation Delta Safe in the Niger Delta in order to tackle the issues of the influx of vandals and militants to Lagos waters from neighboring creeks.

The FOC said the partnership with Operation Delta Safe will see the military raid the creeks and backwaters of the Niger Delta region to arrest the rampaging militants. He said, “Although Lagos by itself is a peaceful place but the criminals come from elsewhere. For instance, the last attack that happened on Lagos waters, we have arrested so many of them and all of them are not from Lagos. “The five of them that are in our custody are not from Lagos but have their accomplice in Lagos who gives them information which we are working on to rid of all those things. “Lagos is the hub of all activities. Anybody you kidnap in Lagos, you know that ransom can be handsomely paid so they plan their operation to operate in Lagos. However, we are not resting on our oars to tackle this. “This period you know nobody came around to kidnap this period and we have to commend the soldiers because they are working very hard to ensure everything is fine peacefully.” On the operation he said,

“This is an ongoing and continuous exercise. Our presence here today is just to meet and interact with the soldiers. We want them to share their problems and we will address them. “Before now you know Majidun is a no- go- area but as you can see everybody is feeling happy and operating freely and that is why we want to make all those non-penetrable areas to be safe now for everyone to carry out their businesses. “There are certain things we don’t need to tell you because if we tell you our strategies, definitely the enemies would re-strategise and strike. “This is a military exercise and the essence of this is to make sure we operate peacefully. So Operation Jagunlabi is a show of force to tell those boys (the militants) wherever they are, we are here for them. “This is a joint operation and you cannot do it alone, so that is why we need air support from the airforce. “Therefore, it’s a joint operation between the army, navy and AirForce and even elements of the police, Department of State Security and the Nigeria Security and Civil Defence Corps.”

Refinery Owner: How Nigeria Can End Fuel Scarcity Emmanuel Addeh in Yenagoa An industrialist, Dr. Azibapu Eruani, who is currently building a refinery in Bayelsa State, yesterday said unless Nigeria develops the capacity to refine petroleum products locally, the perennial fuel scarcity in the country would persist. Eruani, who spoke in Yenagoa, however said there was hope for the country since the privately owned refineries, including his own, would in the coming months complete their facilities which he said would reduce unemployment and reduce or completely eradicate the current malaise Already, the President of the Azikel Group, comprising Azikel Petroleum, Dredging, Power and Azikel Air, noted that the refinery which he is building is 65 per cent completed, noting that when fully on-stream, the issue of fuel scarcity would be solved. Decrying the yearly fuel scarcity problem, particularly during festive periods in the country, he pointed that this challenge had become embarrassing and crippling the economic activities in the country He added that the challenge persists because the efficiency level of existing refineries was too low to satisfy consumers’ demand, stating that Nigeria still solely depends on importation of fuel for local consumption. “Azikel Petroleum has achieved

65 per cent completion and would soon begin operation. When all licensed privately-owned refineries begin to dispense fuel, it would shore up production capacity and fuel scarcity and insufficiency would be a thing of the past while Nigeria would be like other countries where availability of petroleum product is not an issue,” Eruani said. He added: “Azikel Petroleum refinery, phase one, with 12, 000 bpsd hydro-skimming refinery would produce premium motor spirit, liquefied petroleum gas, heavy fuel oil, kerosene and diesel, which is scalable as it will increase geometrically in the phase two level of production with over 50,000 bpsd. “ Group is irrevocably committed to bridging the industrial deficit in Bayelsa, we are on a fast lane of making history, building the first hydro-skimming privately owned refinery in the state and the Niger Delta, and as we pioneer this course others would follow.” He dismissed insinuations that Bayelsa is a militant state, stressing that the people are enterprising while many small and medium business also thrive in the state. Eruani stressed that with over 1000 employees from the six geo-political zones and a plan to employ more, prostitution, drug addiction, cultism, robbery and other vices which have plagued the Niger Delta will be reduced.

EKITI APC LEADERS

L-R: Deputy National Chairman (South), All Progressives Congress (APC), Chief Segun Oni; Minister of Mines and Steel Development, Dr. Kayode Fayemi; his wife, Bisi, during the Ekiti APC leaders’ end-of- year party hosted by the minister at his Isan-Ekiti country home... Wednesday

Methodist Prelate Endorses Ugwuanyi for Second Term The Prelate of the Methodist Church of Nigeria, Dr. Samuel Kanu Uche, has declared that Governor Ifeanyi Ugwuanyi’s re-election in 2019 is sacrosanct because of his outstanding performance and judicious utilisation of the lean resources of the state to impact positively on the lives of the people. The supreme head of the Methodist Church of Nigeria, made the declaration during the thanksgiving service of the former Senate President and a chieftain of the All Progressives Congress (APC), Senator Ken Nnamani and family at St. John’s Methodist Church, Amechi Uwani, Enugu. Uche said Ugwuanyi has “done

very well” in office, adding that “even those in the graves, if they are allowed to vote, will vote for you.” He described the governor as a God-fearing leader, who “loves and honours God,” saying: “Therefore, whatever you want in the next dispensation you will get it.” He maintained that any governor or politician who wants to be reelected in 2019, “must perform” as “that is the best campaign; to give the people the dividends of democracy.” “I welcome Gburugburu (Ugwuanyi) the performing governor of Enugu State. This man is using the resources given

to him very well to develop the state,” the Prelate said. The leader of Methodist Church congratulated Nnamani and his family for deeming it important to come and thank God for His mercies and kindness, proclaiming that his (Nnamani) children will be greater than him. The prelate admonished political leaders to be generous and kindhearted and show love to the people around them to earn their confidence and support. He disclosed that he will mobilise his clergy to the polling units in 2019 to ensure that the people’s votes count, stressing: “Let the winners be winners and let the

losers be losers”. Also lending his voice, the Archbishop of Enugu Archdiocese, Most Rev. Christopher Edeh, commended the governor for the 13th month salary he paid the civil servants of the state as Christmas gift, saying that “Gov. Ugwuanyi has created 13th month salary in Enugu State”, while other states are battling to pay the 12th month salary. Sen. Nnamani was in the Church to “thank God for His manifold blessings to the family especially for the favour of enabling all his children to graduate with flying colours from various universities in the United States of America.”

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CRIME&PUNISHMENT SFU Charges CEO for Issuing Dud Cheque of N130m Davidson Iriekpen The Special Fraud Unit (SFU) of Nigeria Police Force yesterday arraigned one Abiodun Adisa, the Managing Director of Picket Suites and Services Limited, before

a Federal High Court, Lagos, for issuing a dud cheque of N130 million. Adisa was arraigned on a 15 count-charge bordering on the alleged offence. SFU in a charge marked:

Father Kills Child in Ogun Femi Ogbonnikan inAbeokuta Operatives attached to the Ogun State Police Command have apprehended a man for allegedly killing his six-month-old daughter. The incident occurred last Tuesday at Aiyedere in ObadaOko area, an outskirt of Abeokuta metropolis. It was gathered that trouble started that day when the mother of the child, Omowunmi Teleda, left home, leaving behind the six-monthold child, Precious, with her husband, Andrew Koku, to see her daughter that she had for her former husband somewhere in Abeokuta but only to return home and met the corpse of six-month-old Precious. The state Police Command Public Relations Officer, Mr. Abimbola Opeyemi, who confirmed the incident, disclosed that the suspect was arrested following a complaint lodged by the mother of the deceased baby, Teleda, at Adigbe Divisional Police Station, Abeokuta. According to Opeyemi, the mother explained that the baby was hale and hearty before she

left home, and within the few hours she spent away from home, the child was dead. “This situation made her to strongly suspect her husband who happened to be the only person with the baby at home,” he said. The police spokesman said upon the complaint, the Divisional Police Officer (DPO) in-charge of Adigbe Division, Sunday Oladipo, deployed Police Detectives to the scene where the suspect was arrested. Following a preliminary interrogation, he said the suspect confessed to the crime but claimed to be suspecting that his wife wanted to leave him for her ex-husband and that if that should happened, he would not be able to take care of the baby and that was the reason he decided to take the life of the child. However, Opeyemi said the state Commissioner of Police, Alhaji Ahmed Iliyasu, had directed that the case be transferred to the operatives attached to the homicide section of the State Criminal Investigation and Intelligence Department (SCIID), Eleweran, Abeokuta, for a discreet investigation into the matter and subsequent prosecution of the suspect.

FHC/L/461C/2017, stated that the accused had between August 22, 2016, and June 30, 2017, issued 15 Guaranty Trust Bank (GTB) cheques to one Okechukwu Enelameh of Fredliz Estates Limited, in settlement of his indebtedness to the company for three months. SFU, however, stated that but upon presenting the cheque for payment, they were returned dishonoured for lack of funds in the accused person’s account. SFU through its prosecutor, Mr. Sylvester Azubike, had listed in the charge the cheque numbers issued by the accused person as follows: 53547337, 53547338, 53547339, 53547340, 53547341, 53547342, 53547349, 53547350, 53547343, 53547344, 53547345, 53547346,

53547347, 53547348 and 53547364. The offences, according to the prosecutor, Mr. Sylvester Azubike, are contrary to and punishable under section 1(a) (i) of the Dishonoured Cheques (offences) Act Cap. D11, Laws of the Federation of Nigeria, 2004. The accused however pleaded not guilty to the charge. Following the not guilty plea by the accused, his lawyer, Mr. Adewale Olawoyin, a Senior Advocate of Nigeria (SAN), pleaded with the court to grant his client bail in liberal terms, pending the trial. Olawoyin told the court that in urging the court for bail, he had filed a bail application dated December 21, 2017, and such has been served on the prosecution.

Lawyer to the accused also told the court that the bail application was pursuant to section 158 and 163 of the Administration of Criminal Justice Act (ACJA) 2015, and Section 36 of the 1999 Constitution of Nigeria as amended. Olawoyin particularly informed the court to discountenance the allegation made by the prosecution that his client would not come to court if granted bail, saying even when the accused was granted administrative bail, he travelled to America for medical treatment, and he willingly reported back to the police on his arrival. He, therefore, pleaded with the court to grant his client’s bail application. Responding, the prosecutor,

Azubike, stated that police filed 15-paragraph counter-affidavit, adding that the nature of the accused person’s sickness was unknown to the police, and that the medical report attached with the bail application was from unknown government hospital in Nigeria. The prosecutor, therefore, urged the court to refuse the bail application, stating that the police are of the opinion that the accused would be unable to attend trial, if granted bail. After listening to the submissions of both parties, the presiding judge, Justice Hadiza Rabiu-Shagari, while ordering that the accused be remanded in prison custody, adjourned till January 3, 2018, for ruling on the bail application.

Police Feign Ignorance of Attack on Jonathan’s Ex-Aide’s House Family: We called police during attack Emmanuel Addeh in Yenagoa There was controversy yesterday over the attack on the home of the late aide to former President Goodluck Jonathan, Mr. Oronto Douglas, by an armed gang in Okoroba, Nembe Local Government Area of Bayelsa State. Okoroba is the hometown of the late Oronto Douglas, a former Commissioner for Information in Bayelsa State and later Special Adviser to Jonathan on Research and Documentation. While the Bayelsa Police Command yesterday denied knowledge of the attack by yet unidentified gunmen, the family insisted that several distress calls were put through to the leadership of the command, but no help came. Spokesman of the state police command, Mr. Asinim Butswat, said the command was not aware of the incident. However, Mr. Gift Douglas, younger brother to Oronto said that he personally reported the incident as it was happening to the police high command as well as the Nembe Police Division. He said some gunmen, numbering about 15, on Tuesday, December 26 attacked Okoroba community carting property worth

millions of naira. He said: “It is unbelievable that the police will say they are not aware of a crime that I personally made a distress call to the Bayelsa Police Command, I also spoke to the Deputy Commissioner in charge of Operations. “The community has also written officially on the incident and the copy of the petition is available for all to see. “We went further to call the Bayelsa government special joint security outfit ‘Doo Akpo’ and they told us that they have logistics challenge reaching our community because we are not linked by road and we made contact with other military teams that often patrol the waterways as well.” A community Leader, Chief Azibatonye Nengimonyo, also said that the gunmen who invaded the community shot into the air when they gained access into the house. “The gunmen invaded our community at about 9pm, some of them were masked while others did not cover their faces. “They looted the whole community, even the residence of our late brother, Chief Oronto Douglas of blessed memory. Those hoodlums carted away properties worth millions from this community,” he said.

MEN OF THE UNDERWORLD

Force Public Relations Officer, Mr. Moshood Jimoh, parading 30 suspected kidnappers, armed robbers and cattle rustlers at the Kogi State Police Command headquarters in Lokoja.... yesterday Kingsley Adeboye

Robbers Raid Suleja Town Laleye Dipo in Minna Dare devil armed robbers with sophisticated weapons in the early hours of yesterday raided Thaza community in Suleja town of Niger State. The robbers, said to be about 30 in number, stormed the community in three buses at about 6.30 a.m. and blocked all the entry and exits to the community.

According to reports from the area, the criminals operated for about two hours, going from house to house to forcibly dispossess people of their belongings, including money. It was gathered that while the operation lasted, one of the security agencies which had its station near the area could not help the victims. At the end of the raid, the robbers were said to have escaped into thin air with cash said to be several millions of

naira and other valuable items. No life was however lost, but some members of the community were admitted at the Suleja General Hospital for shock. One Saidu Abu who was a victim, said he lost about N2million to the robbers who also manhandled members of his family. Abu, who is a trader, was unable to bank the money last Wednesday because of large number

of customers at the bank. According to him, the robbers threatened that unless he gave them money, “they will kill me and my family members.” Other victims were at the Area Commander ’s office in the town writing statements as requested by the police. The state Police Public Relations Officer, Peter Sunday, confirmed the incident but said: “I am yet to receive details of the attack.”

Farmers, Fulani Herdsmen Clash Claims Two in Kebbi Mohammad Abubakar in Birnin Kebbi Governor Abubakar Bagudu of Kebbi State yesterday visited Aljannare community in Bagudo Local Government Area of the state where farmers clashed with Fulani herdsmen which resulted to the death of two persons.

The governor, while in the village, addressed community leaders and after assessing the extent of damage following the clash, warned the people against any act capable of disrupting peace saying government would not condone any act of violence. He promised that those involved in the violence would face the full

wrath of the law. Those who lost their lives included Muhammadu Maigandi and Aliyu Tela, both of middle age. Bagudu offered financial assistance as well as clothing materials to the families of those killed in the clash. According to him, a thorough

investigation would be conducted to unravel the true cause of the clash and take concrete measures to prevent future occurrence. On the entourage of the governor were the state police commissioner, Kabiru Ibrahim and Director, Department of State Service (DSS), Mohammed Kaumi, and other top government functionaries.

T H I S D AY ˾ FRIDAY, DECEMBER 29, 2017

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FRIDAYSPORTS Iheanacho to Explore Winter Window for a Place in Russia-bound Eagles

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

Duro Ikhazuagbe Kelechi Iheanacho’s woes at Leicester City may be over this winter window opening in a couple of days from now as the Nigerian starlet may be on his way out of the King’s Power Stadium. Iheanacho who arrived Leicester during last summer transfer window for a club record fee of around 25 million pounds from Manchester City, has failed to adapt with the Foxes’ style of play and has consistently played second fiddle to Shinji Okazaki. The Nigerian has not featured for Leicester in any of their last eight EPL outings and should now be looking for a way out in January to boost his chances of making the Super Eagles’ World Cup squad. But a former Nigerian international, Segun Odegbami told THISDAY during the week that Iheanacho’s problem is not as a result of lack of quality but because he is playing under a coach whose preference is Okazaki. “Iheanacho is not a bad player. He is not playing as a result of Leicester coach having preference for another player playing his role. Okazaki is the one that is keeping Iheanacho on the bench,” quipped the ex international.

He however insisted that because the former FIFA Under-17 World Cup winner remains one of Nigeria’s best available players at the moment, it will be proper for him to exploit the January transfer window to move to a club where he will be getting regular first team shirt. “The World Cup in Russia is barely six months away. Iheanacho needs to move to a club where he can be getting regulation action to keep him in shape for the World Cup,” observed the ex international. He believes that despite his stagnation at Leicester, Iheanacho’s style of play will make him a hit with the Super Eagles at Russia 2018. Although none of the big clubs in England has signified intent of signing the former Manchester City player in the January window, sources close to Iheanacho revealed he’s eager to end over 365 days of futile attempts in front of goal in the Premier League. If Iheanacho is selected Leicester trip to Liverrpool, he will be eager to end his goal drought at Anfield on Saturday. He is yet to find the back of the net in the premier league in 2017 and Saturday’s game at Anfield presents him with the final opportunity to banish an

Iheanacho... time to move

unwanted record for a player who over a year ago was touted as one of the most lethal strikers in the English top flight. The Nigerian last scored in the Premier League over a year

ago, precisely on Monday 26th of December, 2016 at the KC Stadium where he scored the second goal in Manchester City’s 3-0 annihilation of Hull City.

Since then Iheanacho has made three starts and 13 substitute appearances in 16 league games for both Manchester City and his new club, Leicester City and failed

to score in any of the games. This season he has featured in nine league games, starting only two. He has not played in Leicester’s last eight Premier League games.

John Terry Admits Missing Joshua Seals Heavyweight Unification Deal with Parker Mikel in England Former Chelsea Captain, John Terry, has admitted missing Super Eagles’ Captain and former teammate, John Mikel Obi. The Aston Villa captain, who played alongside the Nigerian at Stamford Bridge for 11 seasons where the pair won the Champions League, Premier League, among other titles, took to the social media to reveal how much he misses playing with Mikel. Mikel, who is on holiday with his family as the Chinese League is on break,

posted a picture of his two daughters and wrote: “My love bugs.” In his reaction, the former England captain wrote beneath the post: “Looking well old boy@ mikel_john_obi, missing ya mate. Send my love to the family (sic).” John Terry is currently recovering from injury and will wish to still file out one more time with the Nigerian skipper, but Mikel has however ruled out a return to England any time soon.

My Injury Won’t Need a Surgery, Reveals Onyekuru The knee injury sustained by Super Eagles and Anderlecht FC striker, Henry Onyekuru is not as serious as earlier reported. Speaking from his base in Belgium, Onyekuru said that medics at Everton have reviewed the Magnetic Resonance Imagery (MRI) results and also the extent of damage to the leg, while clearing that the player and that he will be back on his feet in about six weeks as against the 12-15 weeks earlier reported in the media. “Everton called for me to come back. They saw the

picture of the MRI and they said I won’t need surgery. So hopefully, I will just go through the treatment and won’t need it,” the former KAS Eupen forward told AOIFootball.com yesterday. The 20-year-old, who has raked in eight goals this season for Anderlecht, revealed further he would be heading to the UK in three weeks to begin treatment. “Hopefully, in three weeks I should be in UK for treatment,” he said.

RESULT Crystal Palace 2-3 Arsenal

Anthony Joshua and Joseph Parker are set to have a heavyweight unification fight in the spring after a deal was reached over how to split the proceeds. Parker was reportedly demanding 40 per cent, with Briton Joshua’s promoter Eddie Hearn offering him half of that. But Parker’s promoter has told the BBC a compromise has been reached to earn the New Zealander between 30-35 per cent. “We have taken a giant leap forward,” said David Higgins. “The fight has never been closer to reality.” Joshua, 28, is seeking to add Parker’s WBO crown to his WBA and IBF titles before a possible meeting with American WBC champion

Deontay Wilder. No boxer has held all four heavyweight belts simultaneously. Higgins says he has received a contract from Hearn and expects to travel to the UK early in 2018 to finalise one of the biggest bouts in recent times. A date and location are yet to be agreed, but initial discussions suggest a window of March 31 to April 28 and potential venues in London, Manchester and Cardiff. According to Higgins, the deal includes an automatic rematch clause if 25-year-old Parker wins, but the terms of a Joshua victory are still under consideration. A number of other areas are being negotiated, such as judges and anti-doping procedures, though Higgins

anticipates no problems. The promoter added: “There are a few other things to be ironed out but I’ve been sent the contract. It’s with my lawyers and I’ll send if back in the next day or so. “I’d like to pay tribute to Anthony Joshua and Eddie. Talk is cheap but they want to unify the division and they’ve put their money where their mouth is. “Eddie has been wonderful to deal with. There has been no ego and even though we’re the smaller side he has been respectful.” Earlier this month, Parker held a news conference featuring clips of Joshua being knocked down and Higgins has previously told BBC Sport that the British fighter was “hyped” and “rattled”.

That prompted Joshua to say he was being “demonised”, but Higgins insisted he has “delusions of grandeur and persecution”. “Some would say this is trash talk but it’s not - we’ve analysed him and he is robotic,” Higgins said. “He’s not used to being analysed like this publicly and we make no apologies for that. We are analysing his strengths and weaknesses and if he’s not comfortable with that he’s had a bit of a soft ride to date. “The UK fans have been brainwashed into thinking he’s an impenetrable fortress but there are many chinks in his armour. Looking like a body builder is not the top criteria for winning a heavyweight fight.

Team Pinnick Takes on FUBS at Akinwunmi Charity Mini Tournament There is a high level of excitement and infectious ecstasy as the fourth edition of the Seyi Akinwunmi Charity Mini-Tournament comes to a climax at the Lagos Campos Mini-Stadium today. Sponsored by the 1st Vice President of Nigeria Football Federation, Seyi Akinwunmi, the show-stopping event has over the years attracted leading administrators, top-drawer artistes and ex-international footballers to the finale, while a number of promising talents have

been unearthed during the youth competition. The competition’s main objective is provision of scholarships for smart but indigent children and support for ailing exinternational players. Over 200 children have been supported through the Courage Education Foundation, which has chosen the game of football to bring people together and raise funds for the Foundation’s goals. Thorough, deliberate and averse to doing things in half

measures, Akinwunmi, who has been Chairman of Lagos State Football Association for more than six years now, has driven the mini-tournament and the Foundation with a touch of class, charisma and consistency. A well-thought partnership with Greensprings International School, Lagos has provided the perfect station for star discoveries to combine first-education with sport, which ultimately makes for a better athlete. This year, Musa Alli and Elvis Onyenze, who have

shone for Nigeria’s Under-15 squad and look good enough to be considered for the next Nigeria Under-17 squad, graduated from Greensprings International School. “Our goal is to provide the perfect platform for the gifted but indigent child to fulfil his dream, through combining good education with a career in sport. Alli and Onyenze are examples of what we set out to do and they are still going strong, but there are many more on the way.

FRI Ëœ Í°ÍˇËœ Í°ÍŽÍŻÍľ Ëž T H I S D AY

55

FRIDAYSPORTS

I M AG E S O F 2 0 1 7 . . . I M AG E S O F 2 0 1 7 . . . I M AG E S O F 2 0 1 7 . . .

Nigeria qualiďŹ ed for the FIFA World Cup in Russia with a game to spare in October

American sprinter Justin Gatlin (left) paying tribute to Usain Bolt after ending the Jamaican’s reign as undisputed champion at the World Athletics Championship in London last August

Anthony Joshua won the WBA world heavyweight title after beating Wladimir Klitschko last April

D’Tigress won the 2017 AfroBasket in Mali last August

Germany won the 2017 FIFA Confederations Cup in Russia last June

Ahmad (centre) defeated Isa Hayatou to become CAF President in March

Plateau United won the 2017 NPFL title to end the state’s long wait for a major football laurel

Real Madrid won the 2017 FIFA Club World Cup for a record fourth time in UAE in December

Friday, December 29, 2017

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& RE A S O

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Price: N250

MISSILE NNPC to DAPPMA

“Despite the concession by the government giving access to DAPPMA to obtain Forex at an official rate of N305 per dollar for PMS import, their members have not been able to do so, leaving NNPC as the sole supplier of PMS to the Nigerian market” – Group General Manager, Public Affairs, Ndu Ughumadu berating the Depot and Petroleum Products Marketers Association (DAPPMA) for its complicity in the current fuel scarcity nationwide.

AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akin.osuntokun@thisdaylive.com

To Recap “Centralization, in short, has been the bane of the nation - on any level you choose - and nothing will answer the necessity of a harmonious relationship and development of its parts other than a severe curtailment of the control of the Centre over the functioning of its parts” – Wole Soyinka

O

ne of the unique revelations I experienced in the course of the year was a positive unmasking of my friend, Dr Wale Babalakin. He is widely known and acknowledged as an achiever in the private sector of the Nigerian economy and in the legal profession. He was the guest speaker at the annual reunion lecture series of the Government College, Ibadan, alumni, to which he invited me. As his friend and associate it wouldn’t take you long to recognize his habitual pride and passion for his alma mater. On several weekends he plays the generous host to his GCI cohorts at his palatial residence in Victoria Island. Given this pedigree I only needed to put two and two together to account for the role he was appointed to play on that occasion-or so I thought. Wale is uncommonly generous and plays the larger than life philanthropic benefactor to people. I was a member of the Presidential delegation to the United Nations General Assembly in 2007 (in New York) but was only able to join in at the tail end of the conference-which coincided with the Xmas break. On learning I was going alone and would thus spend the yuletide season away from my family, he insisted on sponsoring my entire household to go along with me. Beyond looming large in the Nigerian capitalist elite bracket; and enjoying preferment as a foremost Nigerian lawyer, there is yet an additional feather to his cap that has gone largely underreported. Given the prevalence of cronyism in the elevation of supposedly deserving Nigerian lawyers to the privileged class of Senior Advocate of Nigeria, SAN-the annual conferment of the silk, are routinely met with public cynicism. In this circumstance, having a father like retired Supreme Court Justice Bolarinwa Babalakin can become an albatross, especially if any instant assessor of Wale, does not probe beyond the surface. Once you do, the conspicuous meritorious continuity from his academic exploits will readily stare you in the face. A guy who took a PHD in law from Cambridge at the age of 26 years cannot be culturally predisposed to the notion of being a beneficiary of unmerited promotion. I was about to be emphatically confirmed in this belief. The citation of his academic background and progression from every step on the ladderfrom secondary school to the attainment of doctorate in law was strewn with laurels and can be mistaken for the citation of a Nigerian National Order of Merit, NNOM awardee. If he had followed through on a lifetime academic career, he was well on course to taking a chair in the law faculty

Babalakin

by the age of 30. In the event, the path he did not take would deprive the academia the complement of a potential academic prodigy. And if I had not thus been schooled on his academic profile I would have been taken aback at the quality of his presentation. As it were and at the end of the lecture, all I could murmur was I expected no less. Yet (and albeit a worthy subject of tribute on his own merit) this column today is only tangentially about Wale. I have only employed him as a worthy departure point to attempt a snap recapitulation of the most topical subject matter of the year. Come the audience participatory session of commentaries and reflections from the floor, he roused a nagging indignation in me. The topic of his lecture was the potential utility of law to spur Nigeria into breaking out of the vicious cycle of underdevelopment; the instrumentality of the law and the legal profession to the resolution of Nigeria’s development crisis. In his formulation of Nigeria’s crisis, he spoke about the unrealized potential and deficiency of the legislature, especially at the state levels, to hold the executive arm accountable; and how this inadequacy had been compounded by the deteriorating quality of lawyers and judges. In response to the inevitable question on the prescriptive utility of restructuring to resolve Nigeria’s development crisis-he went the way of the status quo escapist ploy of giving the dog a bad name in order to hang it. He snorted that the proponents of restructuring are not serious-to the extent that no strategy had been articulated for its realization! This is another variation of a familiar defamation and trivialization of the restructuring advocacy and if I had not been familiar with his good faith-indicated in a relentless quest for a way out of the Nigerian morass, I would have felt massively offended. Yet those of us who are perplexed at the barrage of the many willful (and some inadvertent) obfuscation and obstructionist take downs of restructuring must not tire

of grappling with this challenge. The stock response of the preponderance of the deniers is that they don’t know what restructuring means because proponents have different versions. And my simple response is that why don’t you start by supporting the version that makes the best sense to you? ‘Still there are categories of Nigerians who express confusion at what the restructuring agenda basically entails. There is the category of those who are genuinely ignorant and suffer short attention span; there is the other category which feigns misunderstanding and deliberately conflates its meaning and import; and then there is another one which presumes to debunk the agenda from the standpoint of superior knowledge and understanding’. Let us proceed with an acknowledgement of the inherent hindrances. First is the military rule syndrome. In the experience of Nigeria’s political history since 1966, all alterations to the constitutional framework had been undertaken and enforced by military dictatorship. The experience has conditioned us to the culture of escapism and delegation of responsibility. Many like me, would have pondered-Wont it make my life easier if the military dictatorship that plunged Nigeria into this constitutional morass can likewise reset the country? In our institutional memory, all it takes is ‘I General Sani Abacha; Joshua Dogonyaro, in consultation with other patriotic colleagues and taken cognizance of the overwhelming desire of Nigerians, hereby announced the dissolution of the 36 states structure with immediate effect’….. .We are yet to live down this syndrome and learn to courageously and commonly address our challenges without subconsciously ceding responsibility to the ‘muddle through’ philosophy and diktat. Complementing this syndrome is an incurably defective constitution that reads more like a death trap (a pact unto death) rather than a living document. It excessively rewards those in power and assures them of severe deprivation should they be reasonable enough to contemplate reform and remedy. Thus, they are totally without personal incentive to seek meaningful constitutional reform except the occasional echo of the populist musings of regional constituencies. Those who jeer at us to follow the laid down constitutional procedure to secure the restructuring policy know what they are saying. This sense of despair has become self-perpetuating and has alarmingly resulted in hand wringing self-pity and transferred aggression of people like Wale.

A Restatement For the umpteenth time, restructuring simply means a restoration of the constitutional framework that the people of Nigeria gave us in 1960. Relative to the independence constitution all other so called constitutions lack legitimacy and authenticity. I will substantiate my citation of the independence constitution as the authentic will of the Nigerian people by proposing that no other set of Nigerian leaders personified the will

of their political constituencies better than the trio of Obafemi Awolowo, Ahmadu Bello and Nnamidi Azikiwe who led the Nigerian delegation to the London constitutional conference. Second, only fundamentalists demand an undiluted return to first principles and since I am not a fundamentalist I can only propose the independence constitution as a guiding constitutional framework not as a wholesale replacement of contemporary political order. The joke really is on the deniers of restructuring. At this stage anyone expressing confusion on what this subject matter entails is either being dodgy, wooly or just seeking a reinvention of the wheel. There are no less than two comprehensive working documents on the review of the constitutional structure of Nigeria in the public domain. The most significant is the report of the 2014 constitutional conference convened by Goodluck Jonathan government. Other than the name of the convener, I have yet, to come across any plausible logic against its utility as a draft constitution

Supporting Excerpts “An excessively powerful center does not equate national unity. If anything, it has made our unity more fragile, our government more unstable and our country more unsafe. We must renegotiate our union in order to make it stronger. Greater autonomy, power and resources for states and local authorities will give the federating units greater freedom and flexibility to address local issues, priorities and peculiarities. It will reduce the premium placed on capturing power at the center. It will promote healthy rivalries among the federating units and local authorities. .In short it has not served Nigeria well, and at the risk of reproach it has not served my part of the country, the North, well”-Atiku Abubakar “Southwest governors yesterday lamented that the splitting of the Old Western Region into six states robbed the people of their spirit of oneness and hampered the pace of socio – economic development.The six governors – Ibikunle Amosun (Ogun), Akinwunmi Ambode (Lagos), Abiola Ajimobi (Oyo), Rauf Aregbesola (Osun), Ayo Fayose (Ekiti) and Rotimi Akeredolu(Ondo), expressed this sentiment at a meeting in Abeokuta, the Ogun State capital, during a regional meeting” “First, in any country where there are divergences of language and of nationalityparticularly of language- a unitary constitution is always a source of bitterness and hostility on the part of linguistic or national minority groups. On the other hand, as soon as a federal constitution is introduced in which each linguistic or national group is recognized and accorded regional autonomy, any bitterness and hostility against the constitutional arrangement must disappear. Secondly, a federal constitution is usually a more or less dead letter in any country which lacks any of the factors conducive to federalism”-Obafemi Awolowo

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