Monday 9th July 2018

Moody’s: Nigeria’s 2018 Capital Budget Unrealisable FG underreporting Nigeria’s debt level, analysts warn Obinna Chima As the federal government prepares to commence the implementation of its 2018 budget, Moody’s Investors

Services Limited, one of the leading global rating agencies, has stated that the capital expenditure portion of the fiscal plan is unrealisable.

Moody's Senior Analytical

Advisor for Africa and the institution's leading analyst for the region, Aurélien Mali, said this in a chat with THISDAY and pointed out that at most, only about 50 per cent of the

capital expenditure could be implemented.

Nigeria’s 2018 Appropriation Act of N9.12 trillion was signed into law about three weeks ago. It provides N2.01

trillion for debt service, N3.51 trillion for recurrent expenditure and N2.87 trillion for capital expenditure, up from N2.36 trillion in 2017.

The capital spending

accounted for 31.5 per cent of total federal government expenditure in 2018.

According to Mali, the Continued on page 12

Nigeria’s Oil and Gas Reserves Stagnate as Oil Majors Reduce Investment… Page 8 Monday 9 July, 2018 Vol 23. No 8481. Price: N250

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Name Politicians Killing Nigerians, Adebanjo, Clark, Others Tell Buhari Omololu Ogunmade in Abuja and Shola Oyeyipo in Lagos

TALKING OIL BUSINESS...

L-R: Oil business magnate, Mr. Iyke Ejizu; Organisation of Petroleum Exporting Countries (OPEC) Secretary-General, Mr. Mohammad Barkindo; Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru; and Minister of State for Petroleum, Dr. Ibe Kachikwu, during the opening ceremony of the Nigerian Oil & Gas Conference in Abuja…recently

President Muhammadu Buhari has been asked to name the politicians he claimed were behind the serial killings across the country, particularly in the Northern parts of the country.

A leader of Afenifere, a Pan Yoruba socio-cultural group, Chief Ayo Adebanjo, and a former Minister of Information and South-south leader, Chief Edwin Clark, spoke to THISDAY yesterday and disagreed with the president’s position on the sponsors of the killings.

Other Afenifere leaders Continued on page 8

PDP Meets Today, Seeks Process for Consensus Presidential Candidate To sign MoU with rAPC, 45 parties

Iyobosa Uwugiaren and Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP) will meet with 45 other political parties and the Reformed All Progressives Congress (rAPC), the breakaway faction of the ruling

APC, today in Abuja to sign a Memorandum of Understanding (MoU), which will spell out their strategic relationship ahead of the 2019 general elections.

A reliable source close to the emerging coalition told THISDAY last night

in Abuja that the MoU would specifically focus on the process that would lead to fielding a consensus presidential candidate by the coalition against the presumptive candidate of the APC, President Muhammadu Buhari.

Some of the parties expected at the meeting, according to THISDAY source, include the Social Democratic Party, Abundant Nigeria Renewal Party (ANRP), Advanced Congress of Democrats (ACD), Alliance for Democracy (AD), Alliance for New Nigeria

(ANN), Action Democratic Party (ADP), All Democratic Peoples Movement (ADPM), and African Democratic Congress (ADC).

He said, “The high point of our political consultations in the past few weeks will be sealed tomorrow (today).

We will meet with 45 political parties and the reformed All Progressives Congress on Monday.

“We have decided to sign an MoU that will define how we should relate, ahead of the 2019 Continued on page 12

Presidency Awaits Briefing on Adeosun’s Alleged Certificate Forgery… Page 46

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Nigeria’s Oil and Gas Reserves Stagnate as Oil Majors Reduce Investment NNPC’s subsidiary records N6.11bn profit Chika Amanze-Nwachuku in Lagos and Chineme Okafor in Abuja Oil and gas industry experts have expressed deep concern over the drop in investment in oil and gas projects to lowest level in recent years, leading to the stagnation of the country’s oil and gas reserves.

Hard-pressed oil firms are said to be cutting back investment in the sector due majorly to delay in the passage of the Petroleum Industry Bill (PIB) and lack of incentives from the government.

However, in spite of dwindling investments, the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has declared a profit after tax of N6.11 billion from its business of processing and transporting natural gas to its customers in 2017.

Checks have revealed that the only major discovery in recent years is ExxonMobil’s Owowo of about one billion barrels of reserves of crude oil because of a slowdown in exploration activities by oil firms.

Consequently, Nigeria’s oil reserves have stagnated at 36.18 billion barrels, as at the first quarter of 2018, according to the Minister of State for Petroleum, Dr. Ibe Kachikwu, who spoke at the recent Nigeria Oil and Gas (NOG) conference in Abuja.

The current reserves are less than the 37 billion barrels in 2010, despite the target of 40 billion barrels set by the federal government for 2010.

With the dwindling rate of discoveries, experts fear that Nigeria might lose her topranking position as Africa’s largest oil producer.

In recent years, most of the increase in oil production had come from existing fields, as only limited exploration wells have been drilled in recent years.

Expectations were that the

oil price rebound would trigger more exploration activities in Nigeria, after years of investment cuts occasioned by youth restiveness and violence in the oil-rich Niger Delta, and the 2016 economic meltdown.

However, the delay in passage of the remaining components of the PIB and government’s failure to incentivise oil companies to invest in exploration, have dampened those projections.

Confirming the unprecedented drop in oil exploration, Chairman of Petroleum Technology Association of Nigeria (PETAN), an umbrella body for all oil services companies in Nigeria, Mr. Bank-Anthony Okoroafor said, “There are no major oil discoveries in the last 10 years.

Our reserve without BOE is about 30 billion barrels. It is a shame. We had 37 billion barrels BOE reserves when Angola had less than two billion barrels and today Angola has proven reserves of more than 9.5 billion barrels of oil and 11 trillion cubic feet (tcf) of natural gas, while Ghana has grown from zero to about 0.7 billion barrels today.”

He added, “Nothing has been done especially in shallow waters where development is less costly. Everybody is punching and finding something. What is our rig count? Exploration wells have not been drilled for a long time now. We have been producing what we discovered and not adding.”

Okoroafor, who is Managing Director of Oilfield Services Company and Chief Executive Officer of CB Geophysical Solutions Limited, advised that the fiscal and community aspects of the PIB should be passed without further delay to restore investors’ confidence in the oil and gas sector.

“The fiscal and community aspects of the PIB should be passed without further delay. If you do not have a law place to secure investments, people will

not come. We must as a country ensure full passage of the PIB and also ring fence exploration budgets,” he mentored.

Speaking in the same vein, another oil industry stakeholder, who also is into petroleum exploration, told THISDAY at the weekend that the dearth of investment resulted in the dwindling of Nigeria’s crude oil reserves.

The source, who would not want his name in print, said the reserves had been dropping because of the slowdown in exploration activities. He picked holes in the recent pronouncement by the Group Managing Director of the NNPC, Dr. Maikanti Baru, that the corporation planned to increase crude oil reserves by one billion barrels yearly to meet 40 billion barrels target by 2020.

“I watched Baru doing what the NNPC knows how to do best- setting targets that it never achieves. Recall that we have been in this journey to attaining 40 billion reserves and four million barrels a day production since more than two decades.

What is our production today?

Also, I know that reserves had dropped to about 30billion barrels because not much is happening in the exploration side. The reserves had since reduced; the NNPC did not get its figures right,” he said.

According to him, there is no sign of a recovery next year because of the general elections, the economic situation and government’s lackadaisical attitude to the oil sector, which remains the country’s economic mainstay.

The oil industry stakeholder stated that the dwindling crude oil discoveries was a bad sign for Nigeria’s future production levels.

Describing the situation as very worrisome, he urged that urgent steps be taken to boost upstream oil and gas investment in order to shore up the declining crude reserves.

However he noted that it was normal for some companies to adopt a wait and see approach to new line of businesses during the election year, but pointed out that new projects had been stalled over the years, due majorly to delay in passage of the oil and gas industry bill.

The NNPC had in 2004, set ambitious targets to grow oil production to 4million barrels per day and reserves to 40 billion barrels by 2010. But when it became obvious that these targets would not be achieved, it set a fresh 2020 deadline.

Indication that the target would remain a mirage, emerged when the Department of Petroleum Resources (DPR), which regulates the sector, revealed recently that the reserves were on the decline.

Specifically, the agency revealed that the reserves dropped by 961.47 million barrels between 2012 and 2016 alone.

Commenting on the drop in crude oil reserves at a recent energy forum, a director in the Department of Petroleum Resources (DPR) attributed the development to a reduction in oil exploration in the country.

He explained that some oil wells in the Niger Delta stopped producing after they attained maturity.

He stressed the need for increased oil exploration in order to shore up the dwindling reserves.

“Oil reserves are dropping and what we are supposed to do to boost them is to continue to explore for more oil,” he said.

It was projected that NNPC would invest $5.3 billion into the country’s upstream projects by 2020, while oil majors-Royal Dutch Shell Plc and Eni SpA would follow, with $4.7 billion and $2.8 billion, respectively.

But Nigeria’s bid to grow investment in oil and gas industry to as much as $40 billion in the next five years is being threatened

by sundry issues, chief among them is delay in PIB passage, heightened insecurity, corruption and unfavourable government policies.

Kachikwu had also in March this year, admitted that inherent challenges were frustrating investment in the sector.

NNPC Subsidiary Declares N6.11bn Profit in 2017 Meanwhile, the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the NNPC, has declared a profit after tax worth N6.11 billion from its business of processing and transporting natural gas to its customers in 2017.

The NGPTC said yesterday in a statement by the NNPC that it made the profit from processing and transporting about 292.91 billion standard cubic feet (bcf) of gas to its customers in domestic gas market, as well as exports.

It, however, explained that the volume of gas processed and transported was below the volume it planned for in its 2017 business target.

It said, in a statement by NNPC’s Group General Manager, Public Affairs, Mr. Ndu Ughamadu, “In the year under review total revenue generated from gas transmitted stood at N72.7 billion translating to 292.91 billion standard cubic feet of gas as against the planned 429.92 bcf thereby achieving 68 .13 per cent of its target.

“Profit before tax was N6.75 billion while profit after tax came to N6.11 billion within the period.”

According to the statement, NNPC’s Group Managing Director, Dr. Baru, also described the NGPTC during its 2017 Annual General Meeting (AGM) as an entity primed to deliver on its vision to be the natural gas processing

and transportation company of choice in Nigeria.

Baru said the NNPC was relying on the NGPTC’s competence to deliver its 614 kilometres (km) AjaokutaKaduna-Kano (AKK) gas pipeline project, which he noted would gulp $3 billion to execute through third party contractor financing and construction model.

According to him, apart from the AKK project, the NGPTC was building new pipelines like the OB-3 line, which he said would come into operation later in the year alongside other significant gas pipeline projects across the country.

He commended the company for recording a profit after tax of N6.11 billion in its first year of operation under the new structure, which he noted refocused it solely on gas transportation.

According to Baru, the profit was made despite the NGPTC operating in an environment filled with incessant pipeline vandalism and condensate evacuation challenges.

Similarly, NNPC’s Chief Operating Officer Gas and Power, who is also Chairman of the NGPTC, Mr. Saidu Mohammed, said the NGPTC was focused on consolidating on its strength and grow to bigger levels.

Mohammed, stated that by 2019, the company would have leapfrogged into the big league with most of its ongoing gas infrastructure projects coming on stream.

The statement said the company, which was created from the restructuring of the Nigerian Gas Company (NGC) into two separate entities comprising the NGPTC and the Nigerian Gas Marketing Company (NGMC) in 2016, has been saddled with the job of processing and transporting natural gas domestically and to the export nodes, while NGMC handled the business of gas distribution and marketing.

NAME POLITICIANS KILLING NIGERIANS, ADEBANJO, CLARK, OTHERS TELL BUHARI who also spoke to THISDAY yesterday, were Chief Reuben Fasoranti and Mr. Yinka Odumakin.

Buhari had on several occasions claimed that disgruntled and irresponsible politicians were behind the killings, contending that they were doing so to discredit his government.

The president made heavy weather of this claim while on a condolence visit to the victims of the killing of over 100 persons in Jos, capital of Plateau State some weeks ago, a position he restated at the weekend at the close of the Army Week held in Borno State at the weekend.

Also in a statement by the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, yesterday in Abuja, the presidency persisted in the profiling of politicians as the sponsors of the killings, saying that the federal government had evidence of its claim and appealed against propagation of falsehood in the polity.

He made the statement hours after the National Chairman of the Peoples Democratic Party (PDP), alleged that Buhari had singled out opposition politicians for punishment.

“This is the same government that said the killers are from Libya, and that they are part of Boko Haram. They have now changed the narrative. They are now saying politicians are herdsmen,” Secondus had said in a statement, adding, “It is just a mere ploy to frame politicians and get them locked up. They even do that to members of their political party who do not share their ideas. They are doing that to us as well. They have left the substance and are now diverting attention from the truth.”

Adebanjo and Clark pursued this theme yesterday and asked Buhari to name the killer politicians.

"If he knows that they are politicians, let him name them so that we can stone them," Adebanjo said, adding, “If Buhari says that at this stage, those who are saying he is confused will be correct.”

The Afenifere leader added, “His government and he are really confused. How can he say politicians are sponsoring herdsmen to kill in Agatu, Enugu, Adamawa, and Taraba; who are these politicians?”

Clark said as a leader saddled with enormous responsibility of protecting the lives of Nigerians, Buhari should rather brace up

to the challenge before it is too late.

He said, "Mr. President is the Commander-in-Chief of Armed Forces of this country and the Chief Security Officer, what has he done! He should be able to cause the arrest of these politicians.

"We know he has done very well in the North-east on Boko Haram, but it cannot be said that he has done sufficiently well in the aspect of herdsmen killing innocent Nigerians.

"Let it be well known that it is not a fight between herdsmen and farmers, it is the killings of farmers; children who are lying down on their houses sleeping in the middle of the night are being killed. Are they preventing them from entering their farms?

"So, where is the communal clash? There is so much to be said. Mr. President should act before it is too late."

The Niger Delta leader also said the president is playing double standard over the issue being that he once claimed that the killers are some of the late Libyan leader, Muammar Ghadafi's mercenaries who infiltrated Nigeria through porous borders.

"How can Mr. President reconcile his earlier statement,

which he made in London, United States and Nigeria that the killings are being done by Ghadafi's men?” he asked.

Clark said it was untrue that politicians were behind the killings. “That is far from the truth. With the greatest respect to our president, it is not true that what is going on is being caused by politicians. It is not true,” he said emphatically, adding, "What politician?

Politician means what? You are in opposition. What would the politician gain from it?”

Fasoranti agreed with Clark that the position taken by Buhari was not correct.

He said, "It is not possible.

It is not possible at all! How can politicians be doing that?

Why would they be killing our people? Why is it that it is herdsmen that they will support or sponsor?

"Who are the politicians?

Are they southerners. Southern politicians cannot be killing their own people. It is an illogical conclusion. There is northern element to it."

Afenifere spokesperson, Odumakin, said: "Which politician? People that are not convicted, they are publishing their names as looters. Now those who are killers, you are now mentioning in generic

names, you cannot mention their names, you cannot arrest them and prosecute them. I am sorry. That story should be told to the marines."

He added, "The killers; Femi Adesina who speaks for the president should know then. If he is telling us that we should choose between our lands or death; that if we don't give our land for ranches we are going to die, then they should know those who are killing."

Presidency Appeals for Restraint, Says Climate Change Worsening Crisis The presidency, however, yesterday appealed against false reports on the killings, saying climate change, specifically the drying up of the Chad Basin had led to more pressure on the population in the northern part of the country, explaining that this had further compounded the crisis between herders and local residents.

According to him, “The presidency is appealing to all its citizens as well as members of the international community to refrain from spreading false stories and inflammatory statements concerning the recent

herder-farmer clashes,” he said.

“The Nigerian government is working closely with state governments and security services — as well as international partners — in order to resolve this ongoing Continued on page 12

TOP GAINERS EQUITYASSURE MUTUALBENEFITS N.E.M UNIPRESS MULTIVERSE TOP LOSERS SOVEITRUST CONSOHALLMARK CCNN

NGN NGN 0.02 0.22 0.04 0.45 0.30 3.40 0.22 2.55 0.02 0.24 NGN 0.03 0.27 0.03 0.31 2.05 22.25 PZ 1.70 19.00 LASACO 0.03 0.34 HPE Nestle Nig Plc ₦1,500.00 Volume: 319.626 million shares Value: N3.072 billion Deals: 4,084 As at yesterday 6/07/18 See details on Page 33

% 10 9.7 9.6 9.4 9.1 % 10.0 8.8 8.4 8.2 8.1

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National Airline Takes off in December, Says FG Chinedu Eze in Lagos and Kasim Sumaina in Abuja The federal government yesterday said the proposed national airline for the country would be unveiled in December, 2018.

The Minister of State for Aviation, Senator Hadi Sirika, said this in a statement by the ministry’s Deputy Director, Media and Public Affairs, James Odaudu.

The minister, according to the statement, made this commitment while receiving the Outline Business Case Certificate of Compliance from the Director General of the Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwa, in Abuja.

According to the minister, "There is no doubt that the issue of national carrier for Nigeria is very close to the hearts of both the government and the people, which is the reason it has taken

the option of a Public Private partnership with the belief that it was the only way to deliver a national carrier that would stand the test of time."

Sirika also expressed satisfaction with the way the Transaction Advisers had carried out their assignments with utmost diligence and timeliness.

He assured that the National Carrier that would be delivered would be world class in operation and management.

The minister said the presentation of the certificate was a testament on how far the project had gone.

The proposed airline will gulp $8.8 million as preliminary cost and $300 million as take-off cost.

The project would be executed through a Public Private Partnership (PPP).

According to Sirika, Nigeria would receive the first set of five airplanes for the airliner on December 19.

The airline would make profit

in three years after operations, he said.

“We will make the investments and follow the business plan through private sector management. We intend to get a 30 aircraft market in five years. But we will begin with five aircraft on the day of launch,” he said.

Sirika added, “At Farnborough International Public Air show coming July 18, 2018 in London, we will unveil the name, logo, colour scheme, the structure and the type of airplane about the national carrier. We will also place the order for the aircraft at the event.”

The minister explained that the government would step in to cover the funding gap at the onset and exit later.

He said the government would not get involved in the management of the national carrier, adding that Nigeria’s population of over 180 million people is huge enough to

support aviation and that the airline would take advantage of Bilateral Air Service Agreement (BASA) that the country had with over 70 countries.

According to him, it would also take advantage of the Africa Single Air Transport Market and would be the best player if the government gets it right.

“But if we don’t, it will become a threat to us. But I believe we are on the right track,” he said.

The minister also gave an assurance that the national carrier would not kill the domestic airlines operating in the country.

He commended the efforts of the ICRC Director General and his team in ensuring that the National Carrier project remained on track through the observation of all legal aid regulatory frameworks.

Also speaking, Izuwah, said the presentation of the Certificate of Compliance was an official

green light to proceed with the procurement process.

According to him, start-up cost over the next three years is about $300 million, but prestart-up is $8.8 million.

“The rest of the investment will be equity injection, which will happen in tranches because you do not need all the monies at once. External capital injection also depends on the profitability of the airline. Though, you need that initial government financial to make it take off, but what is important is that the national carrier will be entirely private sector controlled,” he said, adding, “There will be zero government interference. But if that happens, it invalidates the certificate and the entire process.”

He said his commission, in granting the Certificate reviewed the Project Structuring Report, also known as the Outline Business Case, in line with the ICRC Act of 2005.

According to Izuwah, "The certificate was granted on the condition that the federal government has committed to leveraging on private sector capital and expertise towards the establishment of the national carrier through the provision of a Viability Gap Funding for the project."

He stated other conditions for granting the Certificate of Compliance to an official commitment to zero contribution to airline management decisions and zero government control, warning that any attempt to impose government control would invalidate the Certificate and the entire process.

The ICRC Director General commended the minister for his commitment to changing the face of aviation in Nigeria through infrastructural renaissance and said the PPP remains the only viable option for Nigeria in view of dwindling national resources.

BoT, members of PDP former ministers forum, and all state chairmen to a crucial meeting on Monday (today)."

The meeting, which is fixed for 3p.m. will hold at Shehu Musa Yar’Adua Centre in Abuja.

Meanwhile, the PDP has said that the APC is on the throes of death and that its panic-stricken leadership has resorted to fabrications and cheap blackmail against those leaving their sinking ship in droves.

“Already suffering from pre-defeat trauma ahead of the 2019 elections, the now shattered APC has become intensely nervous and chaotic over the soaring popularity of the PDP as well as the surge of Nigerians, across board, into our fold as a repositioned and rebranded party,” PDP's National Publicity Secretary, Mr. Kola Ologbondiyan, said in a statement in Abuja yesterday.

It said it was not surprised that the APC, out of frustration, had taken

recourse to sponsoring spurious publications filled with deceptions, fabrications and lies against the PDP. The party said, "The APC is particularly unsettled by the huge successes recorded by the Liyel Imoke-led PDP Contact and Integration Committee, in seamlessly galvanizing alliances among stakeholders across other parties, including those returning from the overtly dysfunctional and derelict APC. "The APC is further disconcerted by the spirit of accommodation, agreement and oneness of purpose that pervade the alliances among old, new and returning members of the PDP in our key structure across all the states of the federation, particularly in Sokoto, Kogi, Kwara and Kano States, where all new and retuning members have been accorded very warm reception.

"We know that the APC will stop at nothing in its sneaky efforts to cause confusion among our members, including suggesting that there are disagreements where none exists.”

The FSDH report anticipated that interest rates and yields in the global financial market would increase further as the normalisation of monetary policy in advanced countries continues. This development was expected to have two major implications.

According to the report, firstly, countries or corporates that plan to raise money from the international debt market

may pay higher interest rates because of rising yields.

Secondly, countries in emerging markets may adjust the yields on their fixed income securities to sustain the interests of investors, both local and foreign, in the instruments.

The United States Federal Reserve increased interest rate by 25 basis points to 1.75 per cent to two per cent at its June 2018 meeting.

PDP MEETS TODAY, SEEKS PROCESS FOR CONSENSUS PRESIDENTIAL CANDIDATE general elections. It will also spell out the transparent process that will lead to producing a sole presidential candidate against President Muhammadu Buhari; because it is obvious that APC leadership will impose him on their party.’’

Apart from Senate President Bukola Saraki, the Speaker of House of Representatives, Hon. Yakubu Dogara, Senator Rabiu Musa Kwankwaso and many lawmakers in the National Assembly who are said to be already working with PDP, the source added that five governors elected on the platform of the APC are also covertly involved in the process.

The PDP had set up a contact committee under former governor of Cross River State, Senator Liyel Imoke, to reach out to other political parties and seek possible coalition to fight the 2019 presidential election.

Specifically, two main options, merger and alliance, were considered. While some parties preferred merger, requiring the PDP to drop its name for a new coalition name, the others, including

leading members of the PDP wanted an alliance.

The alliance option became more probable following resistance with the PDP to a name change.

What is being considered is similar to the 1999 alliance between the Alliance for Democracy (AD) and the former All Peoples Party (APP), in which the AD presidential candidate, Chief Olu Falae, was sponsored by the APP with its own nominee, Alhaji Umaru Shinkafi (now late), as the running mate.

The alliance was eventually defeated by the PDP that fielded Chief Olusegun Obasanjo.

THISDAY gathered that today’s MoU signing would be preceded by a meeting of stakeholders of the PDP. Its National Chairman, Prince Uche Secondus, was said to have yesterday evening held consultations with the governors and the National Assembly caucus to brief them on critical issues and to fine-tune the agenda for today's meeting.

One of the key issues that would form the agenda of

stakeholders’ meeting is the progress report on coalition talks with other political parties, including members of the former new Peoples Democratic Party (nPDP) now known as rAPC, said the source.

Apart from the consideration of the coalition plans, the party leaders are also to beam their attention on the Saturday's governorship election in Ekiti State and to assess the level of preparations by the Independent National Electoral Commission (INEC).

The opposition party also hopes to use the opportunity to articulate a position against the recent Executive Order on assets forfeiture signed by Buhari, which they see as a potential weapon to witch-hunt opposition politicians ahead of the 2019 general elections.

Another reliable party source, who confirmed the agenda of the meeting, said the stakeholders would consider preliminary report of the Liyel Imoke Committee in order to fast track the efforts to concretise agreements on alliances/ coalition.

"We are almost reaching

advanced stages in our discussions with other parties willing to align forces with PDP. In fact, we are on the verge of signing an MoU to seal the deal. This meeting is crucial for our party as it touches on critical issues," he said.

While inaugurating the Imoke-led committee, Secondus had said, "It is a well-articulated decision of the party leadership to bring our open door policy to fruition.

Just as your name connotes, you are to deploy your well versed network to help open the space and allow into our party, all those whose union with us can help in rescuing this country.

“Like we always say in this party, this umbrella is big enough to accommodate all people of patriotic ideals."

An official statement yesterday by the PDP National Secretary, Senator Umaru Tsauri, said, "The party is inviting all PDP presidential aspirants, all PDP governors and former governors, members of the National Assembly and former members, all members of the

APC in Panic Mood, Says PDP

MOODY’S: NIGERIA’S 2018 CAPITAL BUDGET UNREALISABLE perennial delays in passing the country’s budget for three years in a row was a demonstration of the institutional weakness in the country.

He said, “Budget is very important for allocation of resources and infrastructure development in the economy.

So, delays to such an extent, three years in a row, is very unfortunate.

“To be perfectly clear, it was a large budget, but everybody knows that even though in nominal terms the capital expenditure increased, it is going to be under-realised and around 50 per cent mostly.

“So, the numbers are big, but the reality is that the budget objective is going to be lower than expected in terms of revenue. So, that mechanism is not efficient enough to drive development in Nigeria.”

According to him, for the budget to be used as a tool for stimulating economic growth, implementation of capital expenditure has to be at about 90 per cent.

Commenting on a recent

Brookings Institution report that revealed that Nigeria had overtaken India as the country with the highest number of extremely poor persons in the world, Mali said alleviating poverty in Nigeria would be very difficult as long as the country’s Gross Domestic Product (GDP) remains below its demographic trend.

He said, “As long as Nigeria continues to grow below six per cent, the poverty level is not going to change, and the standard of living is not going to improve.

“So, you will continue to have income inequality that will continue to increase and overall it is going to be difficult to improve GDP per capita. There is still fragility in Nigeria’s economic recovery.

“While in Nigeria it seems the situation has stabilised, the reliance on hydrocarbon in the country would still pose challenges over the medium term if some reforms are not implemented.

“The revenue generation capacity will still be a weakness

because the non-oil revenue remains weak in Nigeria.”

Meanwhile, analysts at FSDH Merchant Bank Limited have argued that considering the foreign exchange differential in the system, the Debt Management Office (DMO) has been under-reporting the country’s debt level.

Providing insights into a report titled, ‘Public Debt Vulnerable to Exchange Rate Movements,’ released by his firm at the weekend, the Head of Research at FSDH Merchant Bank, Ayodele Akinwunmi, maintained that while the DMO uses N305 to a dollar to calculate the country’s debt level, the widely accepted rate in the foreign exchange market is N360 to a dollar.

Akinwunmi explained, “We are aware that the last Eurobond that the federal government borrowed, they did not convert the dollars to naira at N305 to a dollar.

It was converted to naira at about N340 to a dollar.

“So, for example, if you have $1 billion that you converted

at about N305 to a dollar, you will be reporting that you have N305 billion debt. But if you had converted it at N340 to a dollar, it means you have N340 billion debt.

“But we all know that the ruling exchange rate we have in the market today is in the region of N360 to a dollar.

So, if you convert it at N360 to a dollar, it means you are under-reporting the debt by about N55 billion.

“So, when we looked at the total external debts that we have in dollars and we used N360 to a dollar, it means that the debt should have increased by about N1.2 trillion. So, rather than reporting total debt of N22 trillion, it should have been over N23 trillion.”

He added, “The International Monetary Fund and World Bank have been saying we should harmonise our exchange rate. So, if we are going to harmonise our exchange rate, there is no way we are going to go back to N305 to a dollar.

Banks are not converting their assets at N305 to a dollar.”

NAME POLITICIANS KILLING NIGERIANS, ADEBANJO, CLARK, OTHERS TELL BUHARI issue.

“The clashes between herders and farmers are historical. The causes of these confrontations are varied and complex.

“Climate change, specifically the drying up of the Chad Basin, has led to more pressure on the population in the North of Nigeria, which further compounded the problem.

“As President Buhari indicated lately, there is evidence of involvement of some politicians using criminals to perpetrate the killings.

“Climate change is an issue of global significance and the Nigerian government is determined to continue working closely with its neighbours in order to ensure that a long-term solution can be implemented.

“The federal government makes no distinction among the population and works tirelessly to protect all Nigerian people.

“We are strongest as a nation when we are united and it is through unity that we will overcome this challenge.”

T H I S D AY ˾ MONDAY JULY 9, 2018

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COMMENT

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

WE CAN DO WITHOUT COWS!

Emma Nwosu argues that beef is not more essential than rice, yam and beans to the people

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e can do without cows but not without human beings, tubers and crops! After all, cow meat, popularly referred to as beef, is not a staple (essential food item) in Nigeria, unlike tubers and crops, such as yam and rice, which are eaten daily by both the rich and the poor. Of the 198 million Nigerians, it is doubtful whether up to 10 million (or five percent) can afford beef in the menu, or even bother about beef at all.

The poor, generally, bother about meat only once or twice a year (during festivals) and are content with the chicken, goat, sheep or lamb that can be reared in their courtyard or purchased from the nearby market during the festival of choice. It needs not be beef! It is, therefore, unconscionable for the federal government (which controls the security agencies) to look on while militant cattle entrepreneurs and herdsmen and their militias continually visit genocide on farming communities that produce the staples, in many cases, taking over their land and forcing them into exile! A million cows cannot equate to one human being! And, apart from the aftermath of shedding human blood, there is the looming aftermath of food insecurity. It has got to the point where we have to abandon cow meat and crash the market for cattle, for militant cattle entrepreneurs, herdsmen and the federal government to get the message.

Not only has it refused to rein in the warlord cattle entrepreneurs and herdsmen, the government is bidding for special territories that will nearly amount to one-quarter of the Nigerian landmass (if 10 hectares are excised from each state and the FCT) for ranching or by whatever name, nationwide, for the warlords! And these territories would be developed with public funds, by the same government that has been unable to provide road, electricity and other basic utilities for the populace, whereas, cattle rearing is strictly a private business (just like crop farming) that should be restricted to the territory of the entrepreneur who should negotiate with his governor and bank for ranches! There must be more to this bizarre sense of entitlement than meets the eye. For example, who would have greater political and religious influence than the one with the geographical spread and control of the nation’s landmass?

Precedents do not support reading the proposal from the entitlement of cattle entrepreneurs and herders, as Nigerians, to live and graze their herds, anywhere in the country, as some people suggest. With all due respect, the dominant cattle entrepreneurs and herdsmen are well-known to be conquest-oriented and expansionist since setting foot on Nigeria in 1804. To some, this expansionism is, actually, the essence of the ongoing genocide and the proposed territories which (in the long run) would expand into super-imposing emirates on neighbouring communities, by love or by force, going by precedents of similar settlements - a good example being Jema’a Emirate in the Christian region of Kaduna State. To complain only about public funding of the territories is to overlook the political and religious aftermath.

Also precedents do not support the bid from the need to subsidise cattle rearing. Although government has been involved in subsidising

WAYS MUST BE FOUND TO HUSBAND CATTLE TO GLOBAL HEALTH, PRODUCTIVITY AND RETURN-ON-INVESTMENT STANDARDS, WITHOUT HINDERING CROP FARMING AND FOOD SECURITY

farm input, there has been no known case of involvement in the irreversible acquisition of land and infrastructure for farmers, either in the state of origin or beyond.

Furthermore, differences in culture and, in particular, agricultural practices, of the various zones of the country ought to be respected.

Being one’s brother’s keeper should not amount to those conditioned to crop farming giving up farmland and livelihood for cattle rearing, as if beef is more essential than rice, yam and beans, etc., to the people. Moreover, it is now well-known that enough grazing resources and facilities could be mobilised and hosted among the traditional cattle-rearing states. Kano State, for example, has declared that it can accommodate all herders and cattle in Nigeria. So could other states of the North-West with vast landmass needing only a little science to turn fields around. The government would further betray ulterior motive, if, despite this reality, it still proceeds with the phase-wise southward thrust of the proposed territories. Ulterior motive is made all the more patent by the fact that the same government has been unwilling to tame the herdsmen who are not supposed to carry guns or maintain militias, not to talk of taking laws into their hand. If sincere, it should have, first, disarmed them and demobilised their militias, with their sources of weapon cut off and their principals fished out and prosecuted.

Otherwise, the proposed territories would only conflagrate genocide against unarmed farming neighbours, making territorial annexation and expansion more rapid across the land.

Above all, due to climate change, population explosion and urbanisation, both pastoral vegetation and arable land will continue to diminish and the challenges of field grazing will continue to increase, making it unsustainable in whatever form or shape, particularly, in the crop-farming Middle-Belt states and in the relatively cramped southern states. Policy should aim at farmers possessing farmlands without trespass and loss while herders are able to feed cattle and earn better returns, in their localities, without incidents. For example, there can be commercial feedstock farming as a separate business, anywhere, from which ranchers will buy and transport to location. Jobs would be created in a win-win situation.

In short, ways must be found to husband cattle to global health, productivity and return-on-investment standards, without hindering crop farming and food security. It is utterly hypocritical and pregnant with intention to continue the bid for these territories, nationwide, in the pretext of good neighbourliness and peaceful co-existence, while Nigeria is being turned into a killing field by the prospective beneficiaries. If steps are not retraced, the people might have no other choice than to peacefully sacrifice cow meat. This bizarre sense of entitlement and brow-beating would never arise in a proper federation - where federating units are significantly autonomous and unfettered to determine their priorities, make laws, harness resources in their domains and take responsibility for the delivery of basic services to the people, in an environment of healthy competition.

NIGERIA AND PROBLEM OF POOR LEADERSHIP

Those who vote during elections must possess certain minimum education and training qualifications, argues Francis E. Ogbimi

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he injunction: “think before you act� warns that unless we understand our problems, we shall not be able to solve them. Nigeria, the nation declared by Britain in 1914, the most populous African nation, a nation highly endowed in terms of human and natural resources, was full of great hopes when she gained flag-independence on October 1, 1960. Today, 57 years after independence, Nigeria is being described as a failing nation because it has all the characteristics of a failing country.

Why, what went wrong? We need to understand Nigeria’s problems to prevent the nation from failing.

This article is a contribution to understanding how education can serve as way around the difficult issue of leadership.

Thinking well and acting well are a matter of wisdom. Wisdom, according to the Oxford Advanced Learner’s Dictionary, is the ability to make good and serious judgement because of one’s experience and knowledge; the quality of being wise. In the spiritual context, the book of proverb 2: 6, says: It is the Lord who gives wisdom; from him come knowledge and understanding. Wisdom 6: 17-21; 7:28-8:1, says: Wisdom begins when you sincerely want to learn.

To desire Wisdom is to love her; to lover her is to keep her laws; to keep her laws is to be certain of immortality; immortality will bring you close to God. This desire for Wisdom can prepare you to rule a kingdom. So then, you that rule the nations, if you value your thrones and symbols of authority, honour Wisdom so that you may rule for ever. There is nothing that God loves more than people who are at home with Wisdom. Wisdom is more beautiful than the sun and all the constellations. She is better than light itself, because night always follows day, but evil never overcomes Wisdom. Her great power reaches into every part of the world, and she sets everything in useful order. So, who can be a sage?

The temporal and spiritual demands of leadership are very high and difficult to meet. Okunzua (2003),

a parapsychologist, a professor of Mental Art, in his article entitled: Bad Leadership puts Nigeria Below Sorrow Line, in Nigerian Guardian, Saturday, August 30, 2003, p.19, said that man has about 200 powers or mental faculties. Leadership quality, he explained, improves with the number of powers that the individual can use; no one can be a good leader without putting at least 40 of the mental faculties into use. Okunzua, added sadly, that research suggests that no Nigerian Head of State (HOS) has ever used more than nine mental faculties. That explains why Nigeria has always lived below the sorrow line.

Today, most Nigerians claim that poor leadership is the most serious hindrance to achieving social, economic and political development in Nigeria.

After over five decades of political independence and having had 13 HOS – Alhaji Tafawa Balewa, Gen. Aguiyi Ironsi, Gen. Yakubu Gowon, Gen Murtala Muhammed, Gen. Olusegun Obasanjo, Alhaji Shehu Shagari, Gen. Muhammadu Buhari, Gen. Ibrahim Babangida, Chief Ernest Shonekan, Gen. Sani Abacha, Gen. Abdulsalami Abubakar, Chief Olusegun Obasanjo, Alhaji Shehu Yar’ Adua and Dr. Goodluck Jonathan, and President Muhammadu Buhari, Nigerians continue to lament about poor leadership. The question which comes to mind in this regard is: how can Nigeria get the Great Leader (Mr. GL) – the HOS with the magic wand that Nigerians are yearning to have?

The results of my research on leadership were summarised in the publication entitled: Why the Great Leader is elusive (Ogbimi, 1995). The study reached the conclusion that Mr. GL does not exist; he is an elusive individual. A wise people would not wait for the individual that qualifies as Mr. GL before putting-up the serious efforts needed for building a great nation. This conclusion was reached after examining the experience of European, American and Asian nations. The English people searched for about 2000 years without finding one Mr. GL. The French have a history similar to

that of the English. The Americans did not say they had a Mr. GL. Virtually all the great nations of today had bloody revolutions. The English Revolution (1640-1688) was not a development of joy; it was a period of upheaval and bloodletting.

The famous French Revolution (1789-1820s), was a decade-long bloodletting experience. The American War of Independence (1775-1783) and the America North-South Civil War (1861-1865) were not celebrations of life; they were also bloodletting experience. The Asians fought uncountable civil and external wars. The civil wars and external wars and the bloody revolutions were anti-climax expressions of the failure of leadership. Many Chinese and non-Chinese agree that Chairman Mao Zedung was a Mr. GL. I agree. The Chinese found one Mr. GL after China had existed for about 3000 years.

Because different societies have searched for Mr. GL for thousands of years without finding him, Mr. GL must be an elusive individual.

What is the importance of our results? Do they suggest that Nigerians should be grateful to their leaders who have demonstrated some of the worst leadership qualities in modern times? No! One important lesson of our results is that they warn Nigerians that the lamentation over poor leadership will continue for centuries, if the citizens fail to take appropriate steps. Our results led us to the more important conclusion that: no single person builds a nation; it is the sum of the small leadership qualities in the many millions of citizens that builds a nation.

Great minds build great nations; great nations are owned by those who deserve them.

Consider Europe in the feudal/monarchical era, the king was the divine and sovereign head, a few hundreds of members of the royal family, the nobles and the friends of the royal family – the king’s retinue, were the free people. More than 99 per cent of the citizens were of the serf (slave) category. Each European nation had to face many problems, because only a few ignorant people were

free to think and contribute to solving the myriad of problems that usually arise in the course of building a nation. Today, European nations have done away with feudalism/monarchy/militarism; Europe is knowledgeable, skilled and competent in many ways. The task of sustaining and promoting the growth and development of nations in Europe is that of virtually all the citizens in each nation.

Education enables every citizen to contribute the small leadership qualities he or she possesses to nation-building. Education and training have solved the problem of poor leadership in the technologically advanced European, American and Asian nations of today. Learning (education and training) has increased participation and improved the quality of leadership and followership in the technologically developed world.

European and Asian nations neglected education and training. Consequently they toiled for about 2000-3000 years to achieve the modern industrialisation (solution to mass unemployment and poverty).

They had to experience many civil and external wars and political revolutions - bloodletting exercises. No European or Asian nation was able to avoid the bloodletting experience. No one gives what he or she does not have. No Western or Asian nation would save Africa from experiencing more serious problems, if Africans do not begin to think.

Nigeria’s future even in the democratic era is being determined by those who cannot read and write (those who thumb-print in elections) and could not understand the real issues that promote the progress of a nation. This has to change quickly.

Education and training must be given greater priority in determining both those voted for as leaders and those who vote. We should link our economic and political lives by demanding that those who vote must possess certain minimum education and training qualifications.

Prof. Ogbimi wrote from Obafemi Awolowo University, Ile-Ife

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T H I S D AY MONDAY, JULY 9, 2018

EDITORIAL NIGERIA AND THE POVERTY REPORT The Brookings report on growing poverty in Nigeria is another wake-up call

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recent global poverty ranking which places Nigeria at the bottom of the ladder has continued to rankle the authorities. But a more productive approach would be for the federal government to take the report in good faith and begin to make efforts to reposition the economy so that majority of our people can be productively engaged. For, whatever government officials may say, the indices of poverty are everywhere and all-pervading across the country today.

The American Brookings Institution which carried out the research says the number of Nigerians in extreme poverty increases by six people every minute.

“According to our projections, Nigeria has already overtaken India as the country with the largest number of extremely poor in early 2018, and the Democratic Republic of Congo could soon take over the number two spot. At the end A COMBINATION OF of May 2018, our SUSTAINED NEGATIVE trajectories suggest ECONOMIC GROWTH AND that Nigeria had A DEMOGRAPHIC BULGE about 87 million people in extreme HAS PUT THE COUNTRY compared IN A VERY DIFFICULT AND poverty, with India’s 73 POTENTIALLY EXPLOSIVE million”, said the SITUATION report. It added, “Africans account for about two-thirds of the world’s extreme poor and that if current trends persist, Africa will account for nine-tenths by 2030.”

Even though the federal government has tried to dispute the report, not many Nigerians doubt its veracity.

However, it should not be seen solely as an indictment of the current administration that has spent only three years in power. In a profound sense, successive governments have not done much to improve the standards of living for majority of the people in our country. Nigeria’s Gross Domestic Product (GDP) is among the lowest in the world. Yet, according to the late Lee Kuan Yew, the

founding father of Singapore, the ultimate test of the value of a political system “is whether it helps to improve the standard of living for the majority of its people.”

In faulting the report, the Federal Ministry of Budget and National Planning argued that the “Poverty clock does not directly rely on household survey data as national statistical offices in most countries do. It is, in essence, just a model based on a lot of assumptions which cannot substitute for field work involving actual data collected from households in a consistent and representative way.”

F T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR DAVIDSON IRIEKPEN MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

or us, those are just semantics. Even before the report, it was already evident that poverty has become a common staple for majority of Nigerians, given the desperation by many of our young nationals to risk all in futile bids to cross to Europe through the Sahara desert. A combination of sustained negative economic growth and a demographic bulge has put the country in a very difficult and potentially explosive situation. Nigeria, the seventh most populous country in the world, has a fertility rate that far outstrips its economic growth. So, driven by economic desperation and sometimes by misinformation, hundreds of thousands of able bodied young men and women on a daily basis embark on this perilous journey.

While states and local governments seek oil-rents and jeopardise internally generated revenue, successive national governments have also not adequately used oil revenue to lift the ordinary Nigerian out of poverty.

Rather, and in addition to rent-seeking, these revenues have served as slush funds and continue to enrich a few corporations and individuals over the masses and this paradox can be linked to the growing inequality between the rich and the poor.

Given the foregoing, it is our hope that the authorities at all levels will see the report of the growing poverty in Nigeria as another wake-up call for a nation blessed with enormous natural and human resources, but which has consistently been held down by poor governance to the detriment of majority of its people who wallow in abject poverty.

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2019: MAY THE ROAD NOT BE ROUGH

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hoever thinks elections in 2019 will be smooth should apply care in analysing the political situation in the country. It is instructive to understand that those who worked for President Muhammadu Buhari (PMB) victory have certainly seen the gaps, which they exploited in the build up to 2015 elections.

This time the gaps, the gaffs are most glaring, with widening disconnect among Nigerians and entrenchment of sectional interests, religious cleavages, and hate becoming part of our daily lives. For the last few standing behind PMB, losing election is the least worry, as life after losing is certain to be a nightmare as it is for the opposition presently. Buhari may have boasted of clean records, as far as he is concerned. Those around him will keep their messy records away from the public by making sure they blaze from all barrels to see that next year election come off in their favour no matter whose ox is gored. Yes, the road may be rough to 2019.

The usual politicking by the regular, almost permanent regulators and participants of Nigeria’s political economy has commenced with series of trading of used political ‘goods and services’. The newly created Reformed APC (R-APC) does not only bear similarity with the New PDP before 2015, it actually has almost same people running it. They succeeded in 2015, that was then; we have “saints” in government now.

They may have fertile situation like the usual killing of poor, hapless Nigerians has increased on account of terror to

exploit, but will that guarantee a smooth sail? It is true that Nigerians are more divided than any time in the history of the country, but that exists only among the wretched poor. It is true that government at the centre is underperforming, but PMB apologists do not think so. The most accessible truth is that the government is not democratic enough to tolerate “political detractors,” that is where the so-called R-APC may have their fingers burnt.

Nigerians except simple-minded followers of President Buhari have lost faith and are back full circle to a state of despondency, which they left off in 2015. The country is indeed back on restart button, where PMB has been demystified – this time those controlling the political game know the consequence of losing, that is where Nigerians must gird their loins. The past three years of PMB presidency has been peddled for change, but many feel it’s a play back of what PDP was rejected for. If most of those whose criminal actions discredited PDP are enjoying leadership positions is not nauseating enough, the intensity of impunity under the incumbent president has reached a crisis situation in many ways. The military seems helpless about the farmer/herder onslaught, the judiciary has been whittled by the APC-led administration (except for Saraki acquittal), corruption war has been skewed, appointments skewed, composition of security commanders skewed, advisers are either cronies or family members. The president is simply trapped in his own “power-bloc”, where his refusal to spread appointments based on our rich diversity has only left him with a unidirectional

vision, programmed to only champion a particular group above others. He seems not to know how Sadauna managed the entire northern Nigeria – a mistake history may never forgive him for.

The Buhari led administration may share some basic features with the PDP in the aspect of corruption, inability to contain security malaise; they however do not share in their development strides/aspirations and above all, democratic principles like respect for the rule of law, which was exhibited in 2015. In 2019, may the road not be rough as this APC government may never concede defeat even when it becomes glaring that they should. With a security institution firmly under the control of a section of the country where the president comes from, the INEC managed by a person from same region, Nigerians may be subjected to intimidation and the powers that be will try to get away with it. In 2015, the masses were with Buhari; 2019 will witness security wielding openly the wand of support possibly against the wish of the masses.

Once we realise that Buhari is venerated as a deity, and most of his appointees, service chiefs can lay down their lives to protect his interest above our corporate existence, then we are half close to what the future holds for Nigeria in 2019. The hounds around the president with every force applicable will maul them – the president has graciously added more bite to “war on corruption”, which many opine is targeted at political threats. Nobody should be deceived about any democratic approach if the deity called Buhari is desecrated.

Israel Ayegba Ebije, ebijeo5@gmail.com

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T H I S D AY ˾ MONDAY JULY 9, 2018

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T H I S D AY • MONDAY, JULY 9, 2018

POLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

TRENDING NEWS

Waiting for Maximum Damage Nseobong Okon-Ekong, Segun James and Shola Oyeyipo write that all evidence point to the possibility of more lethal blows being dealt on the All Progressives Congress, APC, from which the party may not recover.

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n politics, as in life, it is often the little cracks that lead to the most damaging consequences.

That was the seeming situation in the All Progressives Congress (APC) when the least expected person, Alhaji Buba Galadima led a group that has since been branded, the Reformed All Progressives Congress (rAPC) out of the party.

Although the leadership of the party was expecting a breakaway by some recalcitrant persons, they least expected that Galadima would be the one to lead the rebels. This unexpected treachery made national chairman of the party, Adams Oshiomhole short of words. He could only manage to say, at first, that the party would ignore members of the Reformed-APC. From Oshhiomhole’s assessment the splinter group was not to be taken seriously. He said, “We listened to Buba Galadima. It is as if a very hungry bird is dancing at the centre of the road and a disgruntled drummer not far away in the bush is drumming for him.

“There are a lot of idle people who don’t have any other thing to do and once they don’t have access to national honey pot, they begin to complain.

“For me, there is no cause for alarm; nobody should panic over one Buba Galadima, whose group, I believe, cannot define us in the next election in 2019.

“Nigerians are wiser. They know that corruption is fighting back and that President Muhammadu Buhari’s resolve to fight corruption must elicit a counter force and that force must find attraction in some people,“ “I believe the rebellion will be crushed using the superior power of argument and persuading our people not to forget in a hurry where we are coming from,” he said.

What Oshiomhole’s cynicism deliberately left out was that Galadima and majority of the APC members in his group were not at the national convention of the party. Though the meeting went on as scheduled but the long-nursed grouse which was becoming a festering sore by the day refused to heal, despite re-assurance from well-meaning and influential members of the APC. Former Governor of Lagos State, Bola Tinubu who was given the task of bringing back obstinate members did not seem to succeed in the assignment. At the time, it appeared that his manifest face-off with the former National Chairman of the party, Chief John Odigie-Oyegun stood in the way of genuine reconciliation.

The splinter group, which is aparently part of a larger faction of disgruntled APC members known sometimes as the new Peoples Democratic Party, nPDP had complained that their members were openly harassed and that they were not carried along in the scheme of things in the ruling party at the centre. Their insistence on meeting with President Muhammadu Buhari to address their grievances was blocked. The farthest they could get was a meeting with Vice President Yemi Osinbajo. The possibility of another meeting with Osinbajo was being considered when the Galadima group announced its exit, saying they were tired of waiting on talks that were not producing the right kind of result.

Although, the rAPC has said it was not leaving the APC, but was rather interested in rescuing the party from those it claimed had hijacked it, the bad turn of events in the APC, was predicted by many pundits. At every turn, the APC is buffeted by crises, which it could ordinarily do without.

Because the internal wrangling in the party did not appear to be risky enough on the surface,

Adams Oshiomhole

apparently, the leadership of the APC decided to treat the rAPC threat with kid gloves. This approach may be fraught with failure.

For over three years now, the party members engaged themselves in a macabre dance that may ultimately lead to the death of the party and political suicide for many of its leading members.

Every pointer suggests that the Galadima revolt may be a ploy to test the waters, ahead of more entrenched groups that are poised to leave the party. The likelihood of members leaving the APC is very glaring. Top stakeholders of the party like Senate President Bukola Saraki, House of Representatives Speaker Yakubu Dogara and Sokoto State Governor Aminu Tambuwal may be waiting to deal a fatal blow that the APC may be able to recover from at themost injurious moment. As more members leave the party, where does this leave the president at a critical election time?

With the unfolding scenario in the APC, it seems history is repeating. A similar situation played out in 2015 and cost the PDP the presidency.

The saying that those who forget the past are doomed to repeat it is now manifesting in the APC. It was situation such as this that led to the crumbling of the PDP; and the same seems

The long-nursed grouse which was becoming a festering sore by the day refused to heal, despite re-assurance from wellmeaning and influential members of the APC

Aminu Tambuwal

to be repeating itdelf with the APC The leadership of the APC, in a statement by its National Legal Adviser; Mr. Babatunde Ogala, described the action by Galadima-led aggrieved faction as a form of coup detat and an “unruly conduct.”

Justifying its position, the APC argued that the convention held on June 23, 2018 had delegates from over 166, 000 wards across this country and all the 36 states including the Federal Capital Territory which produced the delegates was covered by Article 20 (1) of the APC constitution, which stipulates that party posts will be filled by democratically conducted elections at the respective national convention or congress subject, where possible to consensus, provided that where a candidate has emerged by consensus for an elective position, a vote of ‘yes’ or ‘no’ by ballot or voice shall be called to ensure that it was not an imposition which could breed discontent and crisis.

“A clear reading of this provision shows that delegates may consent to a single candidate; however that consent must validated/reaffirmed at the convention. This was exactly the case at the convention where candidates who emerged based on consensus had their elections validated and affirmed by voice votes of the delegates.

Galadima admitted this.

“It is therefore worrisome that he went ahead to suggest that the affirmation process was flawed because only a ‘yes’ question was put to the delegates and not a ‘yes’ and ‘no’ question,” the APC stated.

The party said by Galadima’s action, he and others who share his sentiment “committed several criminal infractions as well as give rise to civil injury against the APC.” He allegedly committed the offence of impersonation punishable under Section 484 of the Criminal Code, breach of trademark and perpetrated action capable of breaching public peace and that as such, the authorities will be requested to do their work in bringing him to account.

“Mr. Galadima knowingly made his false statement with the clear intention of deceiving Nigerians to abandon the APC and instead

follow him and his gang,” Ogala said.

Indeed, Galadima lashed out with several telling blows on the APC. The knocks must have been very painful to the party, coming from one of its own. He listed a number of infractions bothering on lack of internal democracy in the party.

The last straw was the congresses and convention of the APC. The congresses were intensely disputed as it was conducted with impunity, total disregard for due process, disregard for the party constitution and naked display of power and practices that have no place in a party we all worked the very hard to put in place. According to him, “there are countless cases in courts all over the country challenging the legality of congresses and even the National Convention itself. It is very likely that the judicial decisions on these cases will result in massive chaos, confusion and uncertainties. The fate of a party in this state with a few months to the elections is best left to the imagination, but it is not a fate we believe our millions of members should be abandoned to. There were parallel congresses in 24 States namely: Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Enugu, Imo, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Lagos, Niger, Ondo, Oyo, Rivers, Sokoto and Zamfara.

The so-called National Convention of the APC was even worse. The National Convention of the party was ridiculed with constitutional infirmities that were so glaring and obvious that no fair-minded person can claim that a legitimate and lawful executive emerged from that process. The Chairman of the organising Committee, Jigawa State Governor, His Excellency, Alhaji Mohammed Badaru Abubakar, declared 18 seats unopposed and uncontested, since only one valid candidate stood at the end of the grossly manipulated nomination exercise for each of the offices. He therefore proceeded to declare them duly elected in flagrant abuse and violence to the constitution of the APC. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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T H I S D AY • MONDAY, JULY 9, 2018

POLITICS

‘Buhari Has Never Been My Boss In Politics’ Onyebuchi Ezigbo presents excerpt from an interview on ARISE News with the National Chairman of the rAPC, Buba Galadima

W

hat is your reaction to the statement of the APC that the party isn’t factionalised and you are in effect leading a bunch of mischievous and ill-advised individuals who are simply intent on causing confusion?

They have the right, I give them that, we are in democracy. You are allowed to say anything provided you don’t encroach on someone’s liberty and rights. That is why I am saying their right, not because they are right but because by the Nigerian constitution they are entitled to their own views. My reaction is that they are also not a product of a legitimate process that made them what they are.

And this goes back to the convention and congresses?

Of course that is the issue. When we were forming this party, we wanted to get an ideal situation for the people of this country; constitutional democracy, security of lives and properties, good economy, robust economy for the nation and total submission of everybody, including the president to the rule of law. Today, all those are no go areas.

They are also questioning the legality of your move and retention of the name APC reformed or not and are threatening to take legal action.

Let me tell you, these people that are desperate for power can do anything. The recent declaration of June 12 as a public holiday for Nigerians was nothing but desperation to get the votes of certain people. Buhari was never a convert of the June 12 and let me tell you that there is nothing under the sun that they cant do to retain power that is why they assembled amiable people who can assist them. That is why they won’t allow democracy.

We have to protect what we are supposed to do according to the constitution of our party.

You mentioned June 12, some people will say if that is the way they are going to gather votes then let them go ahead. If they did that with people from the South East and people from the South South; the Ogonis over the execution of Ken Saro-Wiwa, that is reconciliation.

You didn’t listen to the people and you don’t have empirical evidence to support your statement.

The leaders of Afenifere have said ‘thank Mr. Buhari for honouring our son but if it is for our votes, go and look for your votes elsewhere’.

The desperation is for votes not reconciliation.

The current chairman of the APC made a statement regarding your move a couple of days ago.

I heard it very clear ‘those who are in the politics for bread and butter’ Buba Galadima isn’t one. Where was he when we were fighting to enthrone constitutional democracy and make Buhari president of this country? He was with the villains, dinning and shopping with them and holding false polls as chairman of the NLC against General Buhari. He is there because it is convenient for him, he wants to remain in the corridors of power. Anyone that knows my pedigree knows I have an impeccable record of service, highest form of integrity and honesty. I don’t speak from both sides of my mouth.

Muhammadu Buhari

Yet the person you found to ally yourself with was a military man; General Buhari?

It was a marriage of convenience. You have to use a general to fight a general.

If you say that was a marriage of convenience why do you seem bothered that he used you to get into power?

He may have done that; I am saying that he betrayed me because we had an agreement to better the lives of Nigerians; to bring reconciliation amongst Nigerians; to build the economy; to build the infrastructure. People were just waiting for the next move that I will make. Anyone that neglects us is doing it at his own peril. Nobody can be President of Nigeria in 2019 without the Reformed APC group.

Does that mean that there is still room for negotiation on your part?

If he performs and delivers the dividends of

Why didn’t you give the new leadership under Adams Oshiomhole a chance before you took action. He is a new man?

Adams Oshiomhole said he won’t lose his sleep because of one Buba Galadima. I can order his impeachment because I have got the number and figure to checkmate any individual through the National Assembly. My support is unprecedented.

You were a former ally of President Buhari for several years, why have you in effect betrayed your former boss and friend?

He has been my co-traveller, he has never been my boss politically. I was the National Youth Leader of the NPN. I was the National Financial Secretary of the National Republican Convention. General Shehu Yar’dua and I led Umaru Shinkafi and Kusamotu to form the ANC that was refused registration by the military and because the military didn’t like my guts they had to give me an appointment to take me off political terrain because of my principles.

It took a hell of a time to convince him to come into politics. Thank God we did. If General Buhari had died that time Nigerians would have thought he was a saint and they would have been going to his grave to worship him

Buba Galadima

democracy as we agreed according to our manifesto, why not? Other than that, he is out.

The r-APC spokesman Kassim Afegbua was a former commissioner under the past administration of Adams Oshiomhole in Edo state.

One would have thought that would give you some leverage for discussion with Oshiomhole.

Why didn’t you bring exploit this?

It is selfish. As one of the founders of the APC, and as a former national secretary of one of the merging parties I was a member of the national caucus of the APC, I was also a member of the board of trustees of the party. I went to meeting once. I was barred from any of the meetings of the party. People can’t tolerate my guts. The man is even telling you that they know those who are stakeholders. If we didn’t build the house he won’t have a room to enter.If you see Kassim on this side, it speaks volumes.

Kassim Afegbua is spokesman for the former military President Ibrahim Babangida. Is IBB a part of your equation in the r-APC mix?

Let me shock you that there is no Nigerian leader or influential person or a well to do person that hasn’t phoned and congratulated or sent a word of solidarity and that we should never give up and that they will go the length with us. We are in charge of the masses of this country who know we are fighting on their behalf and they know we are genuine. Do you know how many positions I held in life? You don’t know.

People wonder whether you have a death wish for the party you helped form because that appears to be what is coming out of all this turbulence.

Rather than wish the party dead, I am using my privileged position to reshape the party based on the principles on which the party was formed.

But that sounds like something personal on your part that you were not allowed to attend meetings and therefore you are turning it into a national issue.

I am only one of the several millions of Nigerians who are crying that we are staking our lives to protect their interest.

What is the link between the r-APC and the n-PDP?

They are bona fide members of the r-APC. They are one of the groups; n-PDP, CPC, ANPP, APGA and 33 other political parties.

What do you and your group the r-APC plan to do, what is the next move in this game of Nigerian political chess?

If there is no justice within the APC we will look for justice elsewhere.

You want to be rewarded for the work you did?

You are going to the wrong side of the coin and the right side of the coin is that we have made sacrifices. If I lay my resume on the table you will know what I am talking about. I was with General Buhari from 2002 till date and a couple of us about 35 of us introduced him into partisan politics. It took a hell of a time to convince him to come into politics. Thank God we did. If General Buhari had died that time Nigerians would have thought he was a saint and they would have been going to his grave to worship him.

Who is the real Buhari from your point of view?

Maybe power changes people. The issue is we brought him into partisan politics. We made all the sacrifices to make him what he is, everyone out of the 34 left except the two of us up till 2015 and we had departure points but the most important thing is that I was the founder and the national secretary of the Congress for Progressive Change, a platform which he contested in 2011 and I had to forfeit and resign that position to bring about the amalgamation of what is now called the APC. That is a big sacrifice and I was one of the nine signatories that signed the memorandum of understanding to dissolve our parties and recommend the APC to INEC for registration.

Is it not clear to you given the critical and important role you played in bringing the APC to reality that there are so many competing elements within that party that clearly the president is going to have a difficult time satisfying everybody.

That is natural. That is not the issue. That is not my problem. My problem is I put my integrity and honour for which this country knows me at stake.

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MONDAY, JULY 9, 2018 • T H I S D AY

FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com 07010510430

Peace on the Plateau

After the recent bloodbath Plateau State, peace is gradually returning to the state, as evidenced by the relaxation of the curfew imposed on the affected areas. Seriki Adinoyi writes that this has been achieved through the concerted efforts of both the federal and state governments, and some wellmeaning individuals

A

fter the recent bloodbath Plateau State, peace is gradually returning to the state, as evidenced by the relaxation of the curfew imposed on the affected areas. Seriki Adinoyi writes that this has been achieved through the concerted efforts of both the federal and state governments, and some well-meaning individuals It was, indeed, a bloody week in Plateau State last fortnight when over 200 persons were murdered in night attacks carried out in 11 villages in Barkin Ladi, Riyom and Jos South local government areas of Plateau State by suspected Fulani herdsmen. However, to try to counter a rising feeling of angst and hate that had been instigated by the killings, virtually the whole country rose in condemnation of the attacks. Individuals and groups from across the country visited the state to commiserate with the government and the people.

Before the Attacks Prior to the attacks, Fulani herders in Barkin Ladi community had issued a press statement, and had also complained to the police that their cattle were missing, and that five of their kinsmen were allegedly attacked on their way from Kara market in Jos South LGA to Barkin Ladi, adding that the kinsmen have been missing since then.

They also charged the police to ensure that they were rescued. The police immediately swung into action in search of the missing persons, promising to rescue the victims alive.

Attack Despite the immediate action taken by the police, the following day, the herders massively struck and killed the Beroms that had gone to mourn their kinsmen that were earlier killed in a previous attack. The perpetrators didn’t stop there; they went back, got prepared and launched night attacks on about 11 villages simultaneously, killing over 200 persons.

According to them, their missing relatives and cattle, was to justify the planned attacks.

The villages attacked include; Gindi Akwati, Ruku, Kura, Rapps, Kinshan, Gengere, Heipang, and Gana Ropp. There have been conflicting death figures in the aftermath, but the state Governor, Mr. Simon Lalong placed it at over 200.

Eyewitness Narrating what happened, President of Gashish Development Association (GDA), Mr. Francis Chung, said the attackers, who were masked swooped on the people at about 11pm on Saturday night and shot sporadically at the villagers leaving them in the pool of their blood.

Also speaking, member representing Barkin Ladi in the state House of Assembly, Mr. Peter Gyendem, had a similar story, describing the situation as worrisome.

An eye witness that narrowly escaped from Gana Ropp village, Mr. Joshua Gwom said a clergy, Reverend Musa of the Assembly of God’s Church, his wife and granddaughter were all hacked to death by the attackers.

He added that women and children were worst affected. He also noted that CAPRO School of Mission in Gana Ropp was also badly hit.

More Deaths Emotions ran very high, especially with the high number of deaths and the gory sight of the corpses of victims, which littered the community. The crisis immediately escalated to Maraban Jama’a and Angle-D in Jos South LGA where the youths from the Berom com-

Relics of the disaster

munity began to stop commuters passing through Jos, beating, maiming and killing any Hausa-Fulani passenger on board.

Muslims and Christians suffered alike in the outrage, leaving additional deaths in its trail. To curtail further escalation, the state government had to impose a dust-to-dawn curfew on the three restive local government areas as an immediate measure to curtail the escalation.

This is even as Lalong, who during the outbreak of the crisis, was in Abuja to attend the All Progressive Congress (APC), National Convention, immediately cut short his stay at

The killings in Zamfara State were more than the number of deaths recorded in Plateau and Benue states put together and, therefore, should not be seen to be a religious crisis

the convention to return to tackle the crisis.

Many believe that these moves by Lalong really went a long way to arrest the escalation.

Federal Government’s Intervention Many see it as heart-warming that the state and federal governments have made concerted efforts to douse tension and calm frayed nerves since after the crisis.

The visit of Vice President Yemi Osinbajo, and indeed the follow up visit the next day

by President Mohammadu Buhari went a very long way to reassure Plateau people that they were not alone in the trouble.

During the visit, the duo extensively highlighted not only the steps they were taking to deal with the problem at hand, but also the measure to prevent its reoccurrence.

The president also tried to dismiss the religious connotation that was already creeping into the crisis, noting that, “the killings in Zamfara State were more than the number of deaths recorded in Plateau and Benue states put together and, therefore, should not be seen to be a religious crisis.”

He assured the state that he will not relent in his responsibility to protect the lives and properties of every Nigerian and would not run away from it. He went further to hold closed-door meeting with leaders of the Berom, Fulani, and other aggrieved tribes, where he appealed to them to prevail upon their followers to sheathe their swords.

Buhari said that having sought to be president four times, “it is my responsibility to protect the lives and properties of every Nigerian and I cannot run away from it.”

While commiserating with the people that lost their loved ones, he stressed that anyone found with a weapon must be arrested and prosecuted. He also appealed to the people of the state to bury their differences and work together for the peace of the land, urging leadership at every level to be awake to their responsibility of driving the peace process.

The major stakeholders from Plateau state that attended meeting were senior government officials, National and State Assembly members, Traditional Rulers, Christian Association of Nigeria (CAN), Ja'amatu Nasril Islam (JNI) and a cross section of the leaders of thought.

For short term solution, which requires immediacy, Buhari directed a military deployment of Artillery Wares, Air Patrol Combat Helicopters, Intelligence Surveillance and Recognisance Aircraft, as well as the deployment of a Special Police Intervention Force supervised by the DIG Operations to ensure restoration of order.

The presidency also conveyed some measures of hope to the people, with the pronouncement that a N10billion Special Intervention Fund has been set aside as palliative for farmers in flash points of

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• T H I S D AY MONDAY, JULY 9, 2019

FEATURES

VP Osinbajo with Lalong

Governor Lalong with one of the victims

recurring attacks and violent inter-ethnic conflicts that have been ravaged on account of same.

Noteworthy is the fact that Plateau state is a beneficiary of the several measures put in place towards security; the Nigeria Police recently established a new Mobile Police Squadron in the Southern Zone of the State, and the Nigeria Air Force has also established a Rescue Search and Combat Command at Kerang in the Central Senatorial District of Plateau State, all in bid to activate crises response time.

Governor's Charge On his part, the governor further charged SEMA (State Emergency Management Agency) to immediately attend to the victims that are now displaced into IDP camps. He also personally undertook a visit to hospitals where injured victim were admitted, reassuring them that government was with them all the way.

The governor also lamented the displacement of settlements in the state saying that his administration would not tolerate land grabbing in any part of Plateau. He said those fighting, killing people and destroying their settlements with the intention of taking ownership of such places would not be allowed to do so. “If you think you can chase people out and grab their land we as a government would not allow you to own the land," he added.

He disclosed that his administration was working out modalities for prosecuting land grabbers to discourage the act. He also appealed to the federal government to provide materials and funds to enhance the return of displaced persons back to their homeland. Those were indeed soothing words to the traumatised victims.

Condolences Former President, Olusegun Obasanjo and Senate President Bukola Saraki, also separately visited Jos to commiserate with Lalong and the people.

Obasanjo urged the federal and state governments to identity the root cause(s) of insecurity and deal with them so that people would get reprieve from the incessant violence plaguing the land.

He said, “We offer our condolences to the bereaved families, all we can say is that God knows the best. Even in my time, we had problems but not in this magnitude, we thought we were dealing with them as at that time but the earlier we deal with it, the better. I believe we can find solution, we must find solution.”

Saraki also conveyed the condolences of the National Assembly to the people, assuring that they would be there for the state in whatever way the state will need them for assistance.

He called on the people to work together with the governor to overcome the challenges, tasked security agencies to fish out the perpetrators of the heinous crime and

The youths protesting the senseless killings

urged the Governor to be fair and just in handling the situation.

The Nigeria Governors’ Forum (NGF) also shunned party divide to stand with Lalong promising to join hands with him to overcome the challenge.

The forum, which presented an undisclosed sum of money to the state government to assist the IDPs in the state, lamented the violence across states in the country, noting that they are determined to overcome insecurity so that the people do not rise up against the governors.

Speaking on the behalf of the forum, its Chairman, Gov Abdulaziz Yari of Zamfara State disclosed that the last meeting the forum had was centred on issues of insecurity in states which seek to undermine the Nigerian state.

Accompanied by the Governors of Delta, Imo, Nassarawa, Sokoto, Benue, Bauchi and Deputy Governors of Akwa Ibom, Edo, Oyo, Kaduna and Ondo, Yari said, “At the last meeting, we discussed issues of insecurity extensively as it is happening in almost every state. We condemn what happened in Plateau State and other states; we are looking at how to fight on a common front to defeat the challenges seeking to undermine the Nigeria state.

“Between March and June in my state, we had 115 incidents and 435 people lost their lives, our people are suffering. Within

two hours, 235 people were killed, 80 found in one place. In Plateau State since 2012, this is the largest.

These people must be brought to book because people have taken things for granted for too long because no one was brought to book, this must change.

“I have done my best, so have my colleagues, the unfortunate thing is that security agents are not there until the deed has been done. We must do something as leaders; else the next target would be us, because people may turn against us. We will have a day interface with the security chiefs to make them understand our plights and sit up or we will have no option but to ask the president to drop them.”

Also speaking, Governor of Sokoto State, Aminu Tambuwal, warned that until government at both state and federal levels take a decisive action against the attackers to serve as deterrent, they will continue in their criminality.

He encouraged Lalong to continue in his good works to restore peace, assuring that the Forum is with him.

Before the forum's visit, Gov Tanko Al-Makura of Nasarawa state had visited with his council of chiefs from the state to condole with Lalong and donated the sum of N10million to support in catering for the displaced persons.

Governor Ishaku Darius of Taraba

state also led a delegation to stand by the government and people of Plateau. Adams Oshiomole, National Chairman of the APC and Rt Hon Yakubu Dogara, the Speaker of the Federal House of Representatives were also among the people that brought the message of hope to Plateau people.

Those that also visited were CAN and Pentecostal Fellowship of Nigerian PFN in solidarity and offered to stand with the state in prayers.

Pathway to Healing Though traumatised, Plateau people have seen practical love demonstrated towards them. They have also received assurances from the federal and state governments. This has gone a long way to begin the process of healing and calming frayed nerves.

Plateau people seem to have left behind them all that happened and chosen to move on with their lives, in the hope that the governor would succour and protect them from further attacks. This places a whole new responsibility on Lalong, who is the state’s chief security officer, even though he cannot give orders to any of the security agencies under Nigeria’s pseudo-federal system.

Lalong must now device effective means of working with the security agencies to secure his people.

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T H I S D AY • MONDAY, JULY 9, 2018

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BUSINESSWORLD R A T E S MONEY MARKET OBB OVERNIGHT

A S

A T

REPO 7 7.75

CALL 1-MONTH 3-MONTH

J U L Y

Group Business Editor Obinna Chima Email: obinna.chima@thisdaylive.com 08024557078, 08091152219

6 ,

2 0 1 8

S & P INDEX 6.50 10.42 11.13

INDEX LEVEL 1-DAY MONTH-TO-DAY QUARTER-TO-DAY YEAR-TO-DAY

EXCHANGE RATE 351.61 -0.10% -0.73% -0.73% 6.92%

N305.70/1US DOLLAR AS AT LAST FRIDAY

Quick Takes PwC Nigeria Admits New Partners

PwC Nigeria has announced the admission of six professionals into its partnership, effective July 1, 2017.

The new partners are Jide Adeola, Chidi Ojechi and Dele Oladipo of the firm’s Assurance practice, while Moshood Olajide, Kenneth Erikume and Chijioke Uwaegbute were admitted into the Tax and Regulatory services practice.

In a statement issued recently in Lagos, the Country Senior Partner, PwC Nigeria, Mr. Uyi Akpata, was quoted as saying that the firm was known for developing top talents.

He added that the six professionals were exemplary in character and aptitude. Akpata said, “Their admission to the partnership is a tremendous achievement and the start of a new career journey.

Their unique skills and experiences, combined with their passion for serving our clients and mentoring our people, will enable PwC in Nigeria to continue to be the market leader in delivering the highest quality of services.

Firm Organises African Forum in London

PROMOTING INVESTMENT

L–R: Head, Shared Services Division, Nigerian Stock Exchange (NSE), Bola Adeeko, presenting a replica of the closing gong to the President, Chartered Institute of Stockbrokers (CIS), Mr. Adedapo D. Adekoje, during a closing gong ceremony in honour of the new president at the NSE in Lagos…recently

2020 Financial Inclusion Target Not Feasible, Says CBN Obinna Chima The Central Bank of Nigeria (CBN) has disclosed that the country is “not on track to meet the 2020 targets set out in the National Financial Inclusion Strategy (NFIS) of 2012.”

To this end, the CBN has commenced a review of the strategy.

The central bank disclosed this in an “Exposure Draft of the National Financial Inclusion Strategy Refresh,” that was posted on its website at the weekend.

The NFIS had set two financial inclusion targets for the year 2020: an overall financial inclusion rate of 80 per cent of the adult population and a formal financial inclusion rate of 70 per cent of the adult population.

ECONOMY However, as of 2016, just 58.4 per cent of Nigeria’s 96.4 million adults were financially served and only 48.6 per cent of all adults used formal financial services.

The NFIS defined an additional 15 targets for channels, products and enabling environment, as well as 22 key performance indicators (KPIs) related to these targets.

But across all these measures, Nigeria lagged inclusion targets.

But, some developments have emerged, especially in recent times, as new stakeholders have joined the push for financial inclusion.

For instance, the CBN and the Nigerian Communications Commission signed an MoU on digital payment systems

in 2018.

Also, same year, the CBN collaborated with the Nigeria Interbank Settlement System (NIBSS) to create a regulatory sandbox that will allow financial technology start-ups to test solutions in a controlled environment and is partnering with the private sector to roll out a 500,000-agent network to offer basic financial services.

In addition, several players in the private sector have introduced new products and services aimed at the unserve/ underserved, and new partnerships are driving the delivery of digital financial services more widely—programmes have been launched to boost access to finance specifically for excluded groups such as women and micro, small and medium-sized enterprises.

The central bank however

listed some issues constraining the growth of financial inclusion to include macroeconomic realities.

“Much has changed in the Nigerian context since the original NFIS document was written, especially regarding the economy, security and technology.

“Unforeseen socioeconomic shocks, such as the economic recession and the security situation in parts of northern Nigeria, have hampered the progress of financial inclusion.

Furthermore, Nigeria’s slow uptake of digital financial services (DFS) and limited rollout of national identity numbers (restricting the ability of financial service providers to meet know-your-customer (KYC) requirements) represent Continued on page 24

Otedola Bridge Explosion: Insurers Count Losses Ebere Nwoji Insurers have quantified the amount of losses from the recent petrol tanker explosion which occurred on Otedola Bridge, along Lagos-Ibadan expressway, saying economic, human and insurance losses were incurred.

The insurers have also expressed concern that the rising spate of deaths and other forms of killings in the country, if allowed to continue, was capable of eroding the premium of insurance underwriters due to high claims ratio.

Speaking on the recent

INSURANCE explosion, the Chairman, Nigeria Insurers Association (NIA), Mr Tope Smart, who is also the Managing Director, NEM Insurance Plc, described the Lagos-Ibadan expressway explosion as a tragedy, saying the accident would have serious implication on the insurance industry in terms of compensation payable to the families of those who lost their lives as a result of the calamity.

He said the compensation was of two folds because those who lost their lives would be

compensated if they have policy cover. Also, the burnt vehicles would also be paid for while those who suffered various forms of accident because of the incident will have to be compensated.

“This tragedy has serious implications to the insurance industry in terms of compensation payable in respect of those who lost their lives as a result of the calamity”, he said.

Also speaking on the loss from the explosion, the Executive Director, Operations Scib Insurance Brokers, Mr Solanke Ogunlana, said there are eco-

nomic, human and insurance loss angles to the unfortunate incident.

According to him, the 12 persons who lost their lives in the incident are entitled to group life insurance claims which is three times their total annul emolument.

He also said the insurance company would be required to replace the 53 burnt vehicles for the owners under third party liability cover which every vehicle plying Nigeria roads must comply with.

Continued on page 24

Global law firm, Hogan Lovells is set to host its fifth annual Africa Forum London against the backdrop of a rapidly improving investment outlook across the continent.

This year’s forum with the theme, ‘Africa Fit for the Future,’ aims to explore, debate, and find solutions that in the long term will make a positive impact in shaping a sustainable and successful future for the continent.

The firms said in a statement that over 300 attendees would have an opportunity to share and discuss current business challenges and future outlook for those doing business in Africa.

Hogan Lovells is recognised for facilitating business, leading thought-provoking discussions and leveraging its exceptional network. “At a time when more and more countries are declaring themselves open for business, we are seeing green shoots of change. But what does it take to make a difference and reap the benefits of these bold statements?

Nasarawa Entrepreneurs Holds Summit

Determined to open windows of opportunities for budding entrepreneurs in Nasarawa State and beyond, SKDC Global Links Limited, an emerging market and events company has slated the maiden edition of the Nasarawa Entrepreneurs Summit (NES).

The event is scheduled to hold in Lafia, the state capital.

According to the Project Coordinator, Mrs. Stella Ajige, the summit would provide the platform for entrepreneurs to attend the crucial entrepreneurship seminar that would hold as part of the summit.

Additionally, participants would also have the opportunity of exhibiting their goods and services to an audience of over 2,000.

She added that invited headline speakers will include distinguished experts engaged in small and medium business development.

Ajige, stressed that the NES would further bring the smartest ideas and entrepreneurial spirit of start-ups, innovation hubs, established SMEs together with government, policy makers, industry leaders, consultants and experts.

“This unique audience has the influence and intelligence to power faster social and economic development, create collaborative opportunity and stimulate business growth.”

IFAD Strengthens Partnership with Sudan

Sudan’s economic future may rest in the hands of its smallholder farmers.

Two thirds of the country’s population (36.2 million people) live in rural areas and agriculture provides essential employment for 70-80 percent of the labour force.

But a recent announcement that Sudan and the International Fund for Agricultural Development (IFAD) have signed a Host Country Agreement (HCA), was described as an indication of the importance being placed on agricultural development and the need for the kinds of innovative investment opportunities that IFAD brings.

Given that there is no application from MTN before the commission, there could not have been a request by MTN or any of its representatives or advisers requiring any form of regulatory review Acting DG, Securities and Exchange Commission, Ms. Mary Uduk

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T H I S D AY • MONDAY, JULY 9, 2018

BUSINESSWORLD 2020 FINANCIAL INCLUSION STRATEGY NOT FEASIBLE, SAYS CBN ongoing impediments,” it stated.

According to the CBN, new lessons and priorities have been identified since the inception of the NFIS, and some of the limitations of the 2012 approach have become clear.

Therefore, it noted that such changes and insights need to be reflected in the new strategy it is working on to more adequately address financial inclusion.

“The limitations of the 2012 report included a lack of prioritisation across a long list of actions and KPIs, as well as an outdated set of solutions, some of which, as innovation advanced, became increasingly suboptimal in their prescribed methods.

“In the refreshed NFIS, priorities have been defined based on a new approach that is deliberately more “future-proof” in its focus on first principles, instead of specific approaches that have the potential to become obsolete. A new first-principles approach OTEDOLA BRIDGE EXPLOSION: INSURERS COUNT LOSSES Ogunlana, however, said for these costs to be borne by any insurance firm, the petrol tanker that caused the accident must have been genuinely insured.

The insurers’ complaints about frequent claims coming from motor insurance especially frequent cases of petrol tanker explosion was not out of place as barely 24 hours after the Lagos-Ibadan express way explosion, another case of petrol tanker explosion occurred along Suleja road in Niger State.

The suleja road explosion which occurred at Mallam Karo, along Minna-Suleja road involved a collision between truck and a fuel tanker. According to road safety officials, the situation was partially saved by fire service men who arrived the scene.

Five persons were said to have been injured by the fire but no live was lost.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Chineme Okafor (Energy) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Cap Mkt)

NEWS

NEXIM Bank Targets N5.12bn Profit in 2018, Backs Inland Dry Seaport Projects James Emejo in Abuja The Managing Director/Chief Executive, Nigerian ExportImport Bank (NEXIM), Mr. Abba Bello has put the bank’s estimated profit before “bad and doubtful” provisions for 2018 at N5.12 billion.

The figure was however, expected to shrink to N2.57 billion after liabilities are net off, he said.

He said total asset base budgeted for the year was N371.01 billion as well as gross operating income of N13.45 billion before interest charge.

According to submissions made before the House of Representatives Committee on Banking and Currency at a recent interaction, Bello said the development finance institution expected about N1.97 billion from project finance facilities and N854.08 billion from trade facilities.

Meanwhile, the MD has expressed support for current moves to establish the inland dry ports in designated areas in the country.

He said the Inland dry ort would promote and drive the exports of Nigerian products and serve the West and Central African markets that are landlocked.

He therefore, pledged the Bank’s commitment to drive the initiative by participating on a promotional basis and providing the relevant technical/ financial support.

Speaking when he received the Executive Secretary/Chief Executive, Nigerian Shippers’

Council, Mr. Hassan Bello who paid him a courtesy visit in Abuja, the NEXIM boss urged the council to come up with a workable template/framework to map out the areas of partnership and support to be provided

by NEXIM Bank.

He further urged the Council to ensure the successful establishment/running of the Kaduna Dry Inland port which should serve as a pilot

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside has stated that Nigeria will continue to seek continued technical cooperation and support from the International Maritime Organisation (IMO).

The partnership, according to him, will help in build sustainable capacity to be a globally competitive maritime nation and accelerate the sector’s contribution to the Nigeria’s Gross Domestic Product (GDP).

The NIMASA boss made this assertion during an interview at the ongoing 120th Council meeting of the IMO in London.

He noted that technical cooperation would help build up knowledge and the necessary skills to position Nigeria as a maritime nation that operates in line with global best practices.

According to him, “The technical cooperation and support being sought from the IMO is in line with NIMASA’s Medium Term Strategy plan, which is intended to help drive maritime growth in the country.

“The technical cooperation has become a necessity that deserves urgent attention

economic potential and which are targeted towards boosting trade and export opportunities, employment creation and foreign exchange earnings for the country.

According to him, the projects included the establishment of the Inland Dry Ports and Truck Transit Parks in designated states of the country.

It is an initiatives of the

council which has the support of the National Economic Council (NEC) and aimed at addressing the issue of de-congesting the Nigerian Sea Ports in order to provide seamless movement of goods and services between the sea ports/dry inland ports as well as assist in the over-all costs of cargo to hinterland locations and transit cargoes to landlocked countries.

SUPPORT FOR ENTREPRENUERS

L-R: Head, Brand and Marketing Hygeia Health Management Organisation (HMO), Ahmed Adeyanju; Group Head, Corporate Communications, Heritage Bank, Fela Ibidapo; Executive Producer, Next Titan, Mide Akinlaja and Corporate Communications Manager, Sifax Group, Muyiwa Akande, at a media briefing on The Next Titan season five held in Lagos… recently ETOP UKUTT

‘NIMASA, IMO Cooperation Critical for Nigeria’s Growth’ Eromosele Abiodun

model in creating other Inland Dry Ports.

Both agencies also discussed and explored other areas of collaboration and synergy to promote Nigerian export activities.

However, the Shippers’ Council boss explained that the visit was to seek for support and collaboration of NEXIM towards actualising two projects with huge

due to the knowledge gaps, changing technology, new regulations that have come into force and experience from incidents around the world.”

Speaking further, he noted that the agency’s area of interest for seeking technical cooperation included the domestication and ratification of IMO legal instruments, environmental stewardship and safety issues.

He also added that the cooperation was not only for NIMASA, but for all other maritime regulators and stakeholders in the country, saying synergy was needed to make the country a leading maritime nation, which is the overarching goal. Peterside also hinted that the IMO Secretariat had approved a number of technical cooperation to be implemented in Nigeria from September till next year. This includes sending some experts to work in the country. He expressed the willingness and determination of the agency to ensure that Nigeria is given its rightful place in the comity of maritime nations. The Council is the Executive Organ of IMO and is responsible, under the Assembly, for supervising the work of the Organization amongst other responsibilities.

AfCFTA: Dangote Cement Consumption in Africa to Attain 275.7 MT By 2030 Olawale Ajimotokan in Abuja The removal of tariffs and nontariff barriers under the African Continental Free Trade Area (AfCFTA) will help to speed up the expansion plans by Dangote Cement Plc in Sub- Saharan Africa and increase its consumption across 16 countries to 275. Metric tonnes by 2030.

This projection was contained in the study report on the potential benefits of AfCFTA on Nigeria that was unveiled by the Nigeria Office for Trade Negotiations (NOTN) in Abuja recently.

For the second time in four months, the federal government abstained from signing the AfCTA pact when the African Union (AU) Heads of Governments met on Sunday in Nouakchott, Mauritania, during the 31st Summit of the 55-member AU. But the document which enunciated how the AfCFTA will broadly catalyse Nigeria’s economic performance and lay the foundation for inclusive growth in line with the vision of the Economic Recovery Growth Plan (ERGP) on export orientation and economic competitiveness, was reviewed by a lead Research Consultant with Africa International Trade

and Commerce Research, Dr Olamide Taiwo.

Using the cement manufacturing sub-sector as a case study, the report said Dangote Cement which expects to reach 16 countries by 2023, reported sales revenue of N615.1 billion and a net worth asset minus liabilities of N797.3 billion.

Dangote currently maintain s cement production in 10 African countries, mainly in the Sub- Saharan region, including Ghana and Sierra Leone, where it carries out bulk import from Nigeria, All the countries, according to the report, accounted for a combined GDP of $1.2 trillion in 2017 and total cement market potential of 121.9 Mt per annum and a total consumption of 64.3 Mt. Cement consumption in Sub-Saharan African grew at average of 7.2 per cent between 2010-17 and is projected at 119.7 Mt in 2018, presenting a very large cement market.

Dangote Group’s share of the Cement market was 21.8 percent in 2016 and at the current growth rate, consumption is projected to reach 181.7 Mt in 2024 and 275.7 Mt in 2030.

Nigeria became self-sufficient in cement production in 2012 and a net exporter in 2016. With investment in several African

countries with a view to expanding the cement market across the continent into 16 countries by 2023.

The group’s share of the cement market in Sub-Saharan Africa is projected at 27.1 percent in 2018 and expected to attain 59.4 per cent by 2030.

Its cement sales will grow to 88.6 Mt in 2024 and 140.1 Mt respectively by 2030 while the net worth which was N797 billion in 2016 will grow to N4.1 trillion by 2024 and N6.6 trillion by 2030.

A total of 16,045 jobs were projected to be created in Nigeria by 2018 within the cement sector and the number is expected to rise to 35, 085 in 2024 and 45, 662 in 2030.

Reacting to the study where 512 companies were polled, the DG NOTN Ambassador Chiedu Osakwe, said one of the low hanging fruits which government and stakeholders can harvest should include Industrial incentives at African level to also consider procurement policies for Nigerian companies particularly for micro and small scale industries.

He also said the trade policy should protect manufacturers and industries to entail taking out of liberalization where tariff will go to zero of the 90 percent of level of tariff.

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BUSINESSWORLD

WEEKLY REPORT

Stock Market Down 1.7% as Bears Maintain Dominance Goddy Egene The bears returned to the equities market Negative sentiments pervaded the equities market in the first week of the second half (H2) of the year leading to a decline of 1.71 per cent in the Nigerian Stock Exchange (NSE) All-Share Index (NSE ASI).

Having ended the first half(H1) year with a marginal growth of 0.09 per cent, it was expected that bargain hunting would set in.

However, the bears dominated the market last week and led to a negative close.

Although earnings season that would see the release of H1 corporate earnings is around the corner, political concerns is making most investors to adopt cautious approach to trading.

Consequently, the NSE ASI fell by 1.71 per cent to be at 37,625.59. Similarly, market capitalisation depreciated to N13,630 trillion.

All other indices finished lower with the exception of the NSE Insurance Index that appreciated by 0.53 per cent.

Daily Performance The market began the H2 2018 on a negative note on Monday with the NSE ASI declining 0.87 per cent to close at 37,946.92. Although bargain hunting was expected in anticipation of the earnings season, the bears remained in control on the first trading of the H2. The negative performance stemmed from continuous profit taking in bellwether counters, which made 21 stocks to depreciate while 16 appreciated.

However, Forte Oil Plc led the price losers with 9.7 per cent, trailed by Honeywell Flour Mills Plc with 9.6 per cent, while Cornerstone Insurance Plc shed 8.5 per cent. Daar Communications Plc and Japaul Oil & Maritime Services Plc went down by 8.3 per cent apiece.

McNichols Plc and Mutual Benefits Assurance Plc declined 8.3 per cent each.

On the positive side, AIICO Insurance Plc led the price gainers with 9.8 per cent, followed by C & I Leasing Plc with 9.6 per cent. Unity Bank Plc and Double One Plc advanced by 9.2 each, just as Neimeth International Pharmaceuticals Plc and Veritas Kapital Assurance Plc chalked up 3.5 per cent and 3.4 per cent respectively.

Oando Plc garnered 3.1 per cent.

“The market remained largely bearish as profit taking activities continued across most sectors in the Nigerian bourse. However, as earnings season has kicked off, we envisage a positive close this week as investors take position ahead of earnings release on counters with dividend expectation,” analysts at Meristem Securities Limited had stated on the first trading session of last week.

Also, activity level weakened as volume and value traded dipped 47.9 per cent and 68.2 per cent to 244.5 million shares and N1.9 billion respectively. The most traded stocks by volume were Sterling Bank (100.4 million shares), FBN Holdings Plc (23.7 million shares) and Wema Bank Plc (16.9 million shares) while Dangote Cement Plc (N384.3 million ), FBN Holdings (N251.1 million ) and GTBank (N236.9 million) were the top traded stocks by value Sector performance was also bearish as four of the five indicators fell. The NSE Oil & Gas Index emerged lone gainer, rising by 0.8 per cent. Conversely, the NSE Industrial Goods Index shed the most, falling 1.0 per cent.

The bear run continued on Tuesday as the NSE ASI fell 0.90 per cent to close lower at 37, 605.12 . That followed the persisted negative sentiments among investors. The decline for the second day pushed the year-to-date(ytd) decline of the market to 1.6 per cent as at Tuesday. On the second trading session, a total of 28 stocks depreciated, while 13 appreciated.

Market analysts on that day, attributed the negative performance to losses suffered by heavy counters such as Dangote Cement Plc, Zenith Bank Plc, GTBank Plc, FBN Holdings Plc among others.

However, on that day, Jaiz Bank Plc led the price losers with 10 per cent, followed

by Omoluabi Mortgage Bank Plc with 9.8 per cent. Cornerstone Insurance Plc shed 9.3 per cent, while May & Baker Nigeria Plc and A.G Leventis Nigeria Plc went down by 8.8

per cent and 6.1 per cent respectively.

Other top price losers included: Fidelity Bank Plc (5.9 per cent); Cadbury Nigeria Plc and Honeywell Flour Mills Plc (5.3 per cent) Flour Mills of Nigeria Plc and Honeywell Flour Mills Plc, which have released their full year results ended March 31, 2018 were also among the price losers.

On the positive side, Prestige Assurance Plc led with 9.4 per cent as investors went bargain hunting in insurance sector. Royal Exchange Plc trailed with 9.0 per cent, just as Redstar Express Plc and Custodian Investment Plc chalked up 7.4 per cent. Mutual Benefits Assurance Plc and Beta Glass Plc and Unilever Nigeria Plc garnered 5.8 per cent, 4.8 per cent, 4.7 per cent in that order.

The sustained bearish trading at the stock market led to a decline of 2.0 per cent in the three days, from Monday to Wednesday.

Commenting on the market performance,

analysts said selling pressure across counters were sustained, as investors continue to sell down on large cap stocks across the market.

“However, the losses were moderated by the buying pressures across the banking sector, as the favoured counters within the sector topped the value and volume charts for the day,” they said. Forte Oil Plc and MCNichols Plc led the price losers with 10 per cent apiece trailed by Omoluabi Mortgage Bank Plc that shed 9.3 per cent. Conoil Plc went down by 8.3 per cent, just as Caverton Offshore Support Group Plc lost 8.2 per cent.

Market analysts said lack of information from Forte Oil Plc regarding its planned business restructuring was weakening demand for the stock. According to a stockbroker, after shareholders approved to proposal, nothing has been heard on the issue.

The shareholders had approved the company’s to restructure its business by

divesting its upstream services , power generating businesses in Nigeria and downstream business in Ghana.

After three days of negative performance, the bulls returned on Thursday to influence a first gain since the start of H2 of 2018.

“Counters like Nigerian Breweries Plc, Dangote Cement Plc, GTBank Plc, amongst others recorded gains that drove the market into the positive region. These gains arose, as investors bought into the tickers, given the attractive prices,” analysts at Meristem Securities Limited had commented at the end of last Thursday’s trading session.

On that day, a total of 23 stocks appreciated compared with 20 others that depreciated.

Multiverse Mining Plc led the price gainers with 10 per cent, trailed by Consolidated Hallmark Insurance Plc with 9.6 per cent.

Japaul Oil and Maritime Services Plc garnered 8.3 per cent.

May & Baker Nigeria Plc and Sterling Bank Plc chalked up 5.7 per cent each, just as C & I Leasing Plc, Mutual Benefits Assurance Plc and Jaiz Bank Plc added 5.3 per cent, 5.1 per cent and 4.7 per cent respectively.

Cement Company of Northern Nigeria Plc and Regency Alliance Assurance Plc advanced 4.7 per cent and 4.1 per cent in that order.

Conversely, Capital Oil Plc led the bears, shedding 9.1 per cent, followed by N.E.M Insurance Plc that appreciated by 8.8 per cent.

Champion Breweries Plc went down by 8.00 per cent, just as Double One Plc, Unity Bank Plc and University Press Plc depreciated by 7.8 per cent, 7.2 per cent and 6.4 per cent respectively.

Market Turnover The volume and value of investment also fell as investors staked N16.594 billion on 1.842 billion shares in 18,941 deals, down from N21.582 billion invested in 2.0 billion shares in 18,534 deals week the previous week.

However, the Financial Services Industry led the activity chart with 1.018 billion shares valued at N10.906 billion traded in 10,092 deals, thus contributing 55.3 per cent and 65.7 per cent to the total equity turnover volume and value respectively.

The Services Industry followed with 313.481 million shares worth N1.861 billion in 782 deals. The third place was occupied by Natural Resources Industry with a turnover of 304.922 million shares worth N61.366 million in 82 deals. Trading in the top three equities namely – United Bank for Africa Plc, Multiverse Mining and Exploration Plc and Nigerian Aviation Handling Company Plc (measured by volume) accounted for 912.300 million shares worth N5.308 billion in 1,025 deals, contributing 49.5 per cent and 31.9 per cent to the total equity turnover volume and value respectively.

Price Gainers and Losers Meanwhile, 45 stocks depreciated during the week, higher than 32 of the previous week, while 27 equities appreciated in price during the week, lower than 32 in the previous week.

Forte Oil Plc led the price losers with 19.7 per cent, trailed by Omoluabi Mortgage Bank Plc with 18.3 per cent, while McNichols Plc went down by 17.3 per cent. Cornerstone Insurance Company Plc and MRS Oil Nigeria Plc shed 17.1 per cent and 16.6 per cent respectively.

Other top price losers included: Honeywell Flour Mills Plc (11.7 per cent); Soverign Trust Insurance Plc (10 per cent); Double One Plc (9.8 per cent);Capital Oil Plc (9.0 per cent) and Transcorp Plc (8.5 per cent).

On the other hand, Mutual Benefits Assurance Plc led the price gainers for the week, chalking up 21.6 per cent, followed

by Multiverse Mining and Exploration Plc with 20 per cent.

Unity Bank Plc garnered 14 per cent, while University Press Plc added 9.4 per cent, just as Royal Exchange Plc and C & I Leasing Plc appreciated by 9.1 per cent and 8.7 per cent in that order.

Other top price gainers were: AIICO Insurance Plc (8.2 per cent); Julius Berger Nigeria Plc (7.2 per cent); Consolidated Hallmark Insurance Plc (6.9 per cent) and N.E.M Insurance Company Plc (6.2 per cent).

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BUSINESSWORLD

MONDAY INTERVIEW

Aziz: National Identity Number, a Crucial Tool for Citizens, Government Director-general of the National Identity Management Commission, Aliyu Abubakar Aziz, speaks on the importance of the national identity number and why all Nigerians should enrol in the scheme, in this interview. Emma Okonji provides the excerpts: Why is NIMC pushing the National Identification Number (NIN) now more than the national ID card itself?

The focus of the National Identity Management Commission (NIMC) for the next three to five years is on the National Identification Number and not on the National e-ID Card. We want to make the NIN understandable, acceptable, applicable and appreciated by Nigerians, as an important and intrinsic aspect of their entire life, rather than a physical card, which can be discarded while the number is for life.

Before now, we were focused on the card but after the country went into recession, we decided to emulate other developed countries like the United States, which issues the Social Security Number; the United Kingdom, with the National Insurance Number; and India where they recently enrolled about 1.4 billion people and issued them the Aadhaar. In all these cases, the emphasis – or perhaps I should say the only thing in focus, is the number.

However, this does not mean that we won’t issue the cards, because it is there in our Act (NIMC Act, 2007), that we should issue a general multipurpose card to all registered Nigerians. Therefore, we recently gazetted some regulations that will ensure participation of private partners in the card personalisation services in order to handle the printing of the outstanding cards, but funding is a challenge.

Also, the intention of the Commission is to develop the identity ecosystem with all datacollecting government agencies and licenced private agencies, in order to capture additional 50 million records by the end of 2018.

What advantages does having the NIN confer on a citizen?

The NIN bequeaths citizens with a lot of privileges and benefits. Like most modern economies where the national identity number is a national token that gives citizens access to government social interventions, the NIN also grants citizens certain rights as regards financial access, credit facilities, among others.

Mind you, in the case of the US, UK and India that i mentioned earlier, like other advanced economies, a citizen can’t access any social services such as health, insurance and so on, without the requisite social security number.

The number is indispensable.

So, here in Nigeria, the NIN facilitates interactions between citizens, the government and private sector institutions thereby promoting socio-economic and political development. Since citizens enjoy a “one-person-one-identity,” for life, the NIN therefore enhances citizens’ participation in the political process, enables citizens to exercise their rights, facilitates management of subsidies and safety net payments, Internally Displaced Persons (IDPs) management and facilitates service delivery in Ministries, Departments and Agencies (MDAs).

It also enhances the work of law enforcement agencies like public safety, policing, national security and border protection, and eliminates ghost and multiple identities. It also enhances the ability of citizens to assert their identity, have access to credit from financial institutions, protects citizens from identity theft – an antidote to identity theft driven frauds, which expands access to other financial services including insurance.

The NIN enhances e-commerce by providing a means of payment as it is a tool for non-repudiation and security for financial transactions. It facilitates financial inclusion, hence the advancement of a cashless economy.

In security circles, the NIN is an important tool for the fight against corruption and terrorism; and finally helps launder Nigeria’s image abroad, among many others. So, you can see that the NIN is multifaceted in utility.

What role does NIN play in Nigeria’s security

We currently have about 30.5 million data in the database with the figures growing daily. The gradual acceptance of the NIN as a means of identification by our partners and stakeholders is also driving up the numbers by the day. For example, organisations like the Federal Road Safety Corps (FRSC), Nigerian Immigration Service (NIS), National Hajj Commission of Nigeria (NAHCON), Federal Capital Territory Administration (FCTA), among others, have all made the NIN a mandatory requirement for service delivery. Others are expected to follow suit.

On our part however, we have commenced aggressive and massive awareness campaign in all the states and the FCT to mobilise people for enrolment. We are also working closely with the National Orientation Agency (NOA), the Federal Radio Corporation of Nigeria (FRCN) and other media partners with a special target on the grassroots, and it will continue for a long time, particularly with the ecosystem approach being canvassed by the World Bank and its allies. Also, we have the mobile enrolment equipment which goes to some of the riverine and difficult terrains in the grassroots areas; and a good number will be rolled out by the end of this year.

Aziz

system?

With the NIN, all citizens enjoy a “one-personone-identity”, which allows the government to search for an individual and all of his/her details either for planning and or for security purposes.

Government can query the database to ascertain how many unemployed individuals are in the system at Federal and State levels, the genders of those individuals, their occupation, skillset, age bracket, location, among others.

This will assist in planning for resources and benefit administration. As you know President Muhammadu Buhari has just signed the 2018 Appropriation Bill into Law; the NIN is a very useful and powerful instrument in assisting the governments at all levels to budget appropriately for the citizenry, in the proper and effective allocation and spread of scarce resources.

On security, the relevant government security agencies are part of the National Identity Management System (NIMS) project from inception and have access to query the system using biometrics to confirm individual’s identity. Therefore, as soon as the National Identity Database is fully populated, all federal, state, and local government agencies as well as the private sectors can access the verification platform of the Commission, for different purposes, depending on the level of access granted to them by NIMC. With the 2019 general elections around the corner, how useful will NIN be to the Independent National Electoral Commission (INEC) and the electorates?

As I said earlier, we are still harmonising data with all data-collecting government agencies, as well as concluding plans to start the ecosystem approach, which will see all government agencies and some licenced private sector companies collecting data and sending to NIMC as the sole repository of biometric

data. This is expected to shoot up the record in the NIMC database by a huge percentage.

Once we have a good figure, then INEC can leverage on the NIMC database for electoral purposes. The plans already on ground for this year include accelerated deployment of enrolment centres in all local government areas across the 36 states and the federal capital territory, and enrolment of all Nigerians and legal residents including children. Perhaps you know that children from birth can now be enrolled; this is a point that Nigerians should be aware of, especially with several babies being born across the country daily.

Parents will do well to avail the new-borns this window of enrolment opportunity that is now uniquely available.

What are those social services that the NIN has become mandatory for?

Pursuant to section 27 (1) and (2) of the NIMC Act, 2007, transactions including, applications for, and issuance of an international passport; opening of individual and/or group bank accounts, all consumer credits; purchase of insurance policies; the purchase, transfer and registration of land by any individual; National Health Insurance Scheme, such transactions that have social security implications, registration of voters, payment of taxes, and pensions, among others, will be done with the NIN. With the recent gazette and publication of the mandatory use of the National Identification Number Regulations, 2017, the Commission will on a later date, begin enforcement of the NIN for these transactions and more. Our advice to Nigerians is: do not wait till you have to, go out there and be enrolled before you have to through enforcement, because then you will have to experience crowd and delays.

NIMC has enrolled just 30 million Nigerians so far. With a population of over 180 million, what is NIMC doing to fast-track enrolment?

Is there any hope that the entire Nigerian population will be enrolled into the national database?

Yes, of course. However, enrolment of eligible citizens and legal residents into the National Identity Database (NIDB) is an on-going and continues process. In other words, there is no limited or specific time frame for all citizens to be enrolled and issued the NIN, because even after enrolling all citizens, there will always be new ones such as new born babies.

According to a recent World Bank report, Nigeria adds seven million into the population every year; that is the size of Rwanda as a country. This means that there will always be enrolment year in, year out. So, it is a continuous exercise and the Commission is poised to carry out its mandate to the letter.

NIMC, by design has offices in all the 774 Local Government Areas (LGAs) and maintains active presence with enrolment centres in over 930 locations across these LGAs. More so, we are working to open more enrolment centres and take enrolment closer to the people, especially the grassroots.

What likely challenges could delay enrolment of those yet to be registered in the country?

Well, the cynicism from the experience of the past was and is still a big challenge. However, we are gradually moving away from that problem as more Nigerians understand the difference between card issuance and identity management. Secondly, the high cost of opening and managing the enrolment centre because of needed stable power supply, active internet connection, low morale on the part of staff because of poor salary structure, the ‘expectation gap’ of ‘card issuance’, are other challenges.

However, we are slowly moving past these challenges as we ramp up more data into the database.

As citizens, what is the responsibility of Nigerians in ensuring they get enrolled?

It is a national call to enrol and all Nigerians are obliged to respond. The government has provided the opportunity through the NIMC platform for enrolling into the national identity database, to make life better in a modern, well managed and planned manner. The NIN gives the citizens that assurance. So, if the government has done so much through NIMC and all that the citizens are required to do is to go out and answer the national call, does anyone have any excuse not to answer the clarion call?

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NEWS

FG Urged to Adopt Blockchain Technology to Boost FDI Emma Okonji The Federal Government has been advised to adopt and invest in blockchain technology to further attract Foreign Direct Investment (FDI) into the country.

The Chief Executive Officer of Kure Holdings, Mr. Tega Abikure, who gave the advice during the company’s recent investment forum in Lagos, said with effective industry collaboration and government support, the adoption of blockchain technology could become

a major source of foreign direct investment for Nigeria.

Abikure noted that Nigerian government was slow in understanding and embracing the technology to drive economic development in the nation at a time other nations were already taking advantage of it.

He revealed that with global cryptocurrency market, having capitalisation in excess of $500 billion, the ecountry can take advantage of it and attract a lot of money for its citizens once the right expertise is developed locally to tap into it.

According to him, Blockchain represents the new economic revolution of the 21st century with a vast possibility of its application in several areas of the economy such as finance, medicine, agriculture, insurance, voting system etc. He said government must stop foot-dragging and adopt a very robust approach at promoting Blockchain adoption and development in the country so that it would not fall behind others in the continent and the world at large. According to him, some African countries have begun

to take steps to integrate the blockchain technology into their economy having realised its potentials for growth.

“South Africa has already started taking actions, same as Uganda,” he stated.

He regretted that the use of the technology in cryptocurrencies and the subsequent involvement of Nigerians with ponzi schemes had wrongly created the impression that Blockchain is a technology used for such questionable things.

He advised Nigerian wish-

ing to make money from cryptocurrencies and other applications of Blockchain to invest in education as this is very central to benefitting from what it offers today.

Nigerians, he explained, had invested funds in excess of $5 million into the cryptocurrency market in recent years, but with little to show for it due to ignorance of how they work.

“The 21st century economy is one based on information and proper education. Blockchain and its applications would only bring ultimate benefits when

people begin to study properly and then put this knowledge to effective use,” he said.

He revealed that his company’s project, KureCoin Hub, is the biggest Blockchain project in Africa and once fully developed, would shape the industry in Africa within a very short period of time. Abikure added that Kure Holdings Limited, the parent company of KureCoin Hub, had already succeeded in many areas of the economy and believed that it would also succeed in the Blockchain industry.

Expert Tasks Business Owners on Digital Innovation Raheem Akingbolu The Group Managing Director of SO&U Limited, Mr. Udeme Ufot, has stressed the need for organisations to embrace digital innovation to equip themselves and acquaint themselves on how customers think.

According to Ufot, in an age when digital technology had interconnected customers and democratised information across markets, the new knowledge would enable brand managers and business owners to connect with one another in the digital age.

Delivering the key note address at the Marketing Edge National Stakeholders Summit in Lagos recently, the advertising practitioner, challenged organisations to be more receptive to digital innovation for marketing, saying key marketing paradigms had been seriously challenged or transformed, sometimes in ways we never imagined.

He stated that in today’s market, technology was democratising information with its ubiquitous spread and transforming customer choices which are changing the market place.

He added: “Marketing is acquiring a very nebulous nature where the marketer is spoilt for choice when it comes to opportunities for consumer engagement but yet hugely challenged by loss of control of what the consumer sees, hears or even hoe he receives same.

“At the click of a button, the consumer can have virtually whatever information he needs, even those he does not seek are thrust before him. At the click of a button, he can literally transport himself to any market he desires, compare offerings, and negotiate the best deals for himself.

“If he is unhappy with the service he has received, or disappointed with the performance of your brand, he can spread easily the word globally in a matter of seconds” “Today’s consumer not only receives information, he is a disseminator of information, and co-creator of the brand.

Today’s consumers can contribute to building your brand into the most loved and trusted in its category and can also destroy your brand in seconds.

Ecobank Partners Old Mutual to Increase Insurance Penetration Ebere Nwoji Insurance underwriting firm Old Mutual, has entered into partnership agreement with the Ecobank for bancassurance services.

The agreement was sealed and driven under a platform known as Bancassurance Referral model and is targeted at offering Old Mutual an extensive outlet to offer life and general insurance products across the 62 branches of the bank in Lagos, Port Harcourt, Abuja and Ibadan.

Old Mutual explained that the partnership was in line with its quest to provide holistic financial products and services to its existing and prospective customers in Nigeria.

Addressing journalists at the signing ceremony which took place in Lagos, the Managing Director, Old Mutual Nigeria Life Assurance, Mr. Keith Alford, described the agreement as another proud moment for

the company because the two firms had been in partnership in other areas of business over the years.

“This bancassurance partnership further strengthens the capacity of both financial institutions to offer multiple access points to our various products and services to customers across Nigeria and indeed Africa. This is unique and strategic,” he said.

He said through the partnership, Old Mutual would leverage on Ecobank’s existing customer base and wide distribution network to promote financial inclusion and insurance penetration whilst pushing the underwriting firm’s brand offerings to customers of Ecobank, He said the partnership which commenced on June 4th, 2018, has already been approved by the insurance industry regulator, the National Insurance Commission(NAICOM) and the Central Bank of Nigeria(CBN).

BRAND PROMOTION

L-R: Manager of Brand Ambassador, Efe Omoregbe; Brand Ambassador Campari, Innocent Idibia; Marketing Manager, Brian Munro Limited, Nkechi Nwachukwu and the Brand Manager Campari, Rilwan Shofunde, at the Campari ‘Make it Red Launch,’ in Lagos...recently

FAAN Creates Platform for Passengers’ Feedback

Paucity of Fund, Bane of Transport Sector, Says Amaechi

Chinedu Eze

Kasim Sumaina in Abuja

The Federal Airports Authority of Nigeria (FAAN) has unveiled an application, initiated by the Presidential Enabling Business Environment Council (PEBEC) for service users to give feedback about the quality of services being rendered by government agencies at the nation’s airports.

The inauguration of the app was held at the E - Arrival of the Murtala Muhammed international Airport, Lagos at the weekend.

With this initiative, passengers and the general public can now register their complaints or commend the quality of services being rendered by government agencies at the airports, with the assurance that such complaints would be attended to and resolved within 72hours, in line with the provisions of Executive Order of the federal government.

In her speech, the Senior Special Assistant to the President on Industry, Trade and Investment, Mrs. Jumoke Oduwole, who commissioned

the PEBEC desk, noted that the initiative would usher in efficiency, probity, accountability and eliminate corruption in service delivery at the airports, as customers now have a veritable and reliable tool to make their experiences known while using airport facilities.

She was happy that passengerss can download the application on their phone through the website and send in their comments without any hindrance.

Jumoke advised all government agencies to key into and support the initiative, while she encouraged the general public to also make use of the facility when there is need for commendation.

The focal person of FAAN PEBEC team, Mrs. Olusola Awe, who spoke on behalf of FAAN and other agencies at the airport commended the initiative and thanked all agencies for supporting the project. She noted that the facility would enhance the Ease of Doing Business in Nigeria and also help agency to improve on its service provisions.

The Minister of Transportation, Rotimi Amaechi has attributed paucity of fund as part of the major challenge faced by the transport sector in Africa.

Amaechi disclosed this, while declaring open the 2nd Annual General Meeting of the Sub-Saharan Africa Transport Policy Programme (SSATP) in Abuja recently.

The meeting with the theme, ‘Africa’s Rapid Urbanisation and the Response to Urban Mobility in the Digital Era,” had in attendance over five transport ministers from African countries. According to him, “It is organised for all Sub-Saharan African countries to brainstorm on the way forward on urban transports and mobilities.

SSATP is an association that accommodates all African ministers of transportation which Nigeria is hosting.

“The meeting is to ensure that we have a sustainable and organised transportation mode.”

He hinted that, “Funding is the major challenge for transport infrastructure. We need funds

to enable us build railway, we need funds to be able to build roads, we need fund in aviation. “So, our greatest challenge is funding. This is an annual event that goes round. We are going to discuss what benefit we can get from other countries to be able to transport goods for both business, cargo and man, as passengers and discuss the issue of urbanisation in transportation and intermodality.

“We will exchange ideas with other African ministers on areas they have done well and how to source for funds to build transport infrastructure,” the minister said. Similarly, the Permanent Secretary of the Ministry, Alhaji Sabiu Zakari explained, “Nigeria bided to host this particular event which we felt it was necessary because of the advantages to be derived by hosting this kind of event.” Zakari added, “so far, we have five ministers from various countries of Africa that has arrived and we are expecting more ministers to discuss issues on internal regional integration.” in the country.

31

T H I S D AY • MONDAY, JULY 9, 2018

BUSINESSWORLD

APPOINTMENT

Zubairu Appointed AFC President The Africa Finance Corporation (AFC) has announced the appointment of Samaila D. Zubairu as the corporation’s third President & Chief Executive Officer.

He succeeded Mr. Andrew Alli whose tenure ended recently, having successfully served in the position since 2008.

Zubairu is a Fellow of

the Institute of Chartered Accountants of Nigeria (ICAN) and an accomplished infrastructure development finance specialist with over 29 years of professional experience.

He is the CEO of Africapital Management Limited, in which position he established a joint venture with Old Mutual’s African Infrastructure Investment

Managers (AIIM) to develop the Nigerian Infrastructure Investment Fund1(NIIF1) for infrastructure private equity across West Africa. He also recently coordinated the US$300 million acquisition of Eko Electricity Distribution Plc. He was the pioneer CFO for Dangote Cement Plc, during which he launched Africa’s largest syndicated project

finance facility for a local corporate to actualise the Obajana Cement project and managed the watershed unbundling of Dangote Industries Limited to listed subsidiaries on the Nigerian Stock Exchange.

He has led finance transactions for over US$3 billion covering: green-field project finance facilities, acquisitions, corporate transformation

initiatives, privatization and equity capital market transactions.

The appointment of Zubairu followed a six-month search process that saw over 100 candidates apply for the role.

The Chairman of AFC, Dr. Okwu Nnanna, while commenting on the appointment said, “On behalf of the Corporation, I am delighted

to welcome Samaila Zubairu to AFC. “In Samaila, we have identified an individual with the exceptional qualities across deal origination, execution, and capital raising that will continue to facilitate AFC’s ability to deliver transformational change through infrastructure investment as it moves into a new era.”

to a reputable provider such as MDXI ensures businesses can adopt more cost-effective models of consuming technology to allow increased focus

on business development and growth.

“As we build a data centre ecosystem spanning facilities across West Africa, we plan

to launch new Tier III data centres in Sagamu, by Q4 2018, Ghana in 2019 and Cote d’Ivoire in 2020,” the Data Centre company added.

MainOne’s Achieves TCCF Certification MainOne’s Data Centre subsidiary, MDXI recently received its Tier III Constructed Facility certification (TCCF) from the Uptime Institute. With this new milestone, MDXI became one of the leading Data Centre in West Africa with the top five certifications in the industry, being the Tier III Constructed Facility certification (TCCF); the PCI-DSS certification, which certifies the Data Centre to process payment card information; the SAP Infrastructure Services licence, which certifies the Data Centre as ideal for running SAP applications and infrastructure; the ISO 27001 and the 9001 certifications.

This TCCF certification was awarded by the Uptime Institute as a performance-based evaluation of a data centre’s concurrently maintainable site infrastructure.

Tier Certification of Constructed Facility is a progression from Tier Certification of

Design Documents (TCDD) and goes beyond the review of paper designs to rigorous on-site testing to root out discrepancies between the actual installation and design.

The multiple certifications of MainOne’s MDXI demonstrates compliance to globally accepted standards on high availability, commitment towards the security and protection of the information assets of the company and its customers, and provides assurance of the quality of the Data Centre’s infrastructure and ability to react to disruptions due to unplanned activities.

According to a statement, the MDXI’s 600 rack facility in Lekki is the premier commercial Data Centre in West Africa and was built to meet the rapidly growing demand for Colocation, Managed Hosting and Cloud services within the region. General Manager of MDXI, Gbenga

Adegbiji announced that the certification further validated the company’s investment in critical infrastructure to grow West Africa’s Digital Economy.

Also speaking on the presentation of TCCF documents, President of Uptime Institute, Lee Kirby said: “We congratulate MainOne’s Data Centre Company, MDXI on receiving their Tier III Constructed Facility Certification Documents. This is indeed a significant step for the region and we look forward to working with them as they build multiple facilities across West Africa.

“With the increased recognition of Africa as home of fast growing economies, it is important that we have the infrastructure required to establish, enhance and sustain effective business performance in today’s global digital economy.” “Outsourcing of Data Centre services

ATCON Gets Recognition for Advocacy The organisers of the Ghana Information and Telecom Awards 2018 (InstinctWave) has recognised and applauded the concerted efforts of the Association of Telecommunications Companies of Nigeria (ATCON) for championing advocacy about enabling environment for its members’ businesses and protecting its members’ interests in the telecom industry.

The annual awards, which holds in Ghana, is in its 8th edition this year, where ATCON was recognised.

The National Treasurer of ATCON, Mrs. Aderonke

Adeyegbe who received the award recently on behalf of thee association, appreciated the organisers of the award, saying it would make ATCON go the extra mile in the area of advocacy. She said ATCON’s advocacies had led to increase in the flow of Foreign Direct Investment (FDI) to the sector and it has also restored the confidence that the local investors have in the sector.

“It would generally spur us to do more constructive and meaningful advocacies for the betterment of our members and sector within Nigeria and Africa as a whole.

“We sincerely value this prestigious award as it indicates that our efforts at removing all identified barriers to the continuous rapid growth of the telecoms sector did not go in vain as more resources will be dedicated to our advocacy work,” Teniola said.

According to him, “Our engagements with all relevant agencies to provide an enabling environment shall be reinvigorated in order to get government at all levels to make laws and policies that will further grow and develop

32

T H I S D AY • MONDAY, JULY 9, 2018

BUSINESS/MONEYGUIDE

Group Empowers 2,160 Entrepreneurs Peter Uzoho No less than 2, 160 entrepreneurs in small and medium scale businesses across the six geo-political zones in the country were empowered at the Accelerate Labs, an initiative of Future Project and Microsoft Nigeria to support and grow their businesses.

The event took place in Lagos recently. Launched in June last year, Accelerate Labs is a dynamic one-year incubation programme intended to empower entrepreneurs between the ages of 18 and 35 through required technological resources, trainings, mentorship and seed funding required for them to build their businesses and contribute to the development of the Nigerian economy.

In all, 300 participants with great business ideas were selected from each zone split into two streams of 150 each and trained over a 12-week period using an 11 course curriculum of three divisions provided by

promoters of the Future Project.

The classes were segmented as top sections/compulsory classes, SME clinic, mentorship period, and research and practice, and only those who attained 70 per cent attendance in all the classes were qualified to pitch their business plans to investors for possible investment and certificate collection on the demo days.

At each zonal demo day, three winners from each stream were rewarded with one-year technology support: domain and website development, and laptop computer each, while the winner and the first runners up got seed capital of N100, 000 and N50, 000 respectively, depending on the zone.

Speaking at the South-west demo day in Lagos which marked the end of the programme, the Chief Operating Officer, Future Project, Bukola Adebakin, said the programme was aimed at getting young people to start their own businesses while helping those that

had already started to scale up their businesses.

Adebakin said: “And so far, the going for this year was to train 2,160 businesses and which we were able to reach across the geo-political zones in the country. And we hope that in one year, each of those businesses would have employed at least one person in their business and which means they are contributing their quota to solving the unemployment issue in Nigeria and contributing to the growth of the country’s gross domestic product (GDP).”

She noted that demo earlier took place in Abuja, Kaduna, Bauchi, Enugu and Benin before it finally berthed Lagos where the programme ended.

Also speaking, Philanthropies Lead, Microsoft Nigeria, Mr. Olusola Amusan, said his organisation supported the initiative because it aligned with the company’s global mission to empower every individual and organisation on the planet to achieve more.

L-R: Group Managing Director, Investment One Financial Services Limited, Mr. Nicholas Nyamali; Winner of Virtual Investment Simulator Season II, Mr. Cyril Uzoh and Managing Director, Investment One Stockbrokers International Limited, Mr. Ezekiel Oluyori, at the Virtual Investment Simulator Season II finale, in Lagos…recently

MARKET INDICATORS

ElumeluPledges N500mforDelta Entrepreneurship Programme The founder of the Tony Elumelu Foundation (TEF) and Chairman of the United Bank for Africa (UBA), Mr. Tony Elumelu has pledged N500 million for the creation of an entrepreneurship programme exclusive to indigenes of the state. He made the commitment after presenting 50 beneficiaries of the TEF Entrepreneurship Programme to Governor Ifeanyi Okowa of Delta state Elumelu added: “Indeed, hearing about your commitment to our youth and the impressive work you have done in the state, I am proud to call you my Governor and

it makes me even more proud of my state.” Okowa in his speech, commended Elumelu for the work of his foundation, highlighting that TEF’s recent collaboration with French President Emmanuel Macron demonstrates the level of global recognition and stature that the foundation had received.

“You didn’t restrict the impact of your foundation to Delta, or even to Nigeria, you have empowered 4000 across Africa.

“What you are doing my brother is giving hope to others, who in turn will help to change the narrative of our country and continent and influence the

people around them.

“You are changing the narrative of giving - not just handouts but giving skills and mentoring.

In the next ten years, the impact of the Tony Elumelu Foundation will be truly transformational - the multiplier effect will be huge. The whole country should support and think positively in this same direction,” the Delta state governor said. A highlight of the event was the sharing of success stories between beneficiaries of the Foundation and the beneficiaries of the different wealth and entrepreneur development programmes of the Okowa administration.

Prudential Zenith Life Insurance Launches New Products Following the launch of Prudential Zenith’s bancassurance business on 21 May 2018, which has enabled customers of Zenith Bank to purchase life insurance products in over 60 branches in Lagos State, the company has launched a suite of new life insurance products.

The new products launched recently include: My Savings Plan and My Family Protection Plan.

According to a statement from the company, ‘My Savings Plan’ was designed to help customers meet their long-term savings needs, while

‘My Family Protection Plan’ provides peace of mind to customers and their loved ones by paying a lump sum on the death of the policyholder.

The new product launches are the latest development following the entry into Nigeria of Prudential Plc, one of the oldest and most capitalised life insurance companies in the world.

Prudential Zenith explained in the statement that it aims to redefine the Nigerian insurance sector by providing a range of affordable life insurance products designed to meet the

protection and savings needs of Nigerian consumers, adding that the new products are the first step in enabling Prudential Zenith to become a one stop shop for all insurance solutions.

Prudential Plc, one of the oldest and most strongly capitalised life insurance companies in the world, last year acquired a majority stake in Zenith Life Assurance, to form Prudential Zenith Life.

Alongside its entry into Nigeria, Prudential also formed an exclusive Bancassurance partnership with Zenith Bank in Nigeria and Ghana.

EcobankRestateCommitmenttoCreativeIndustries Ecobank has announced that it sponsored the launch of the French Season of African Cultures 2020 in Lagos, Nigeria.

The event which was attended by Emmanuel Macron, President of France recently, took place at the New Afrika Shrine .

Macron told the audience at the event that he was determined to champion a new narrative about how Africa was perceived.

“When I say we need new narratives, what I mean is

that we need you people to make these narratives. I see a new generation of artistes, of entrepreneurs, of people coming from civil societies, of journalists, of intellectuals coming from Africa and explaining, speaking about Africa in Europe and everywhere” he had explained.

On his part, the Managing Director, Ecobank, Charles Kie said, “President Macron’s support is indicative of African cultures’ growing international influence.

Whether it be blockbuster films such as Black Panther, our global superstars in the music industry, our artworks in the top international auction houses, our models gracing the premier fashion catwalks, or our dance and our food, Africa’s culture is having a huge impact on the global stage.

“Africa’s creative industries are a vital ingredient of our continent’s economies in our relentless pursuit of increased diversification and global competitiveness.”

MONEY AND CREDIT STATISTICS

(MILLION NAIRA) 2018

Month

MARCH

Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

---- Memo: Credit to Govt. (Net) less FMA

5,433,209.43

---- Memo: Fed. and Mirror Accounts (FMA)

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 • Source - CBN

MANAGED FUNDS Month

MARCH

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55 • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, WED, 4, JULY , 2018 The price of OPEC basket of fourteen crudes stood at $75.21 a barrel on Thursday, compared with $75.38 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), Zafiro (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

33

T H I S D AY •MONDAY, JULY 9, 2018

MARKET NEWS

Non-filing of Accounts: NSE Suspends Trading in Shares of Eight Firms Goddy Egene and Nosa Alekhuogie

3.1, Rules for filing of accounts and treatment of default filing, which provides that, “If an issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: send to the issuer a second filing deficiency notification, within two business days after the end of the cure period; Suspend trading in the Issuer’s securities; and (c) notify the Securities and

The Nigerian Stock Exchange (NSE) last week suspended trading in shares of eight companies due to their inability to file financial accounts as stipulated by the rules of the exchange.

NSE explained that the affected companies were suspended pursuant to Rule

Exchange Commission (SEC) and the market within 24 hours of the suspension.”

Based on the above, the NSE suspended trading in the shares of the eight companies. They are: African Alliance Insurance Plc; Cornerstone Insurance Plc; R. T. Briscoe Plc; Royal Exchange Plc; STACO Insurance Plc; Standard Alliance Insurance Plc; Universal Insurance Company Plc and

Veritas Kapital Assurance Plc. According the exchange, the suspension of the companies will only be lifted upon the submission of the relevant accounts and provided the exchange is satisfied that the accounts comply with all its applicable rules.

The NSE recently fined 17 insurance firms for the delay in the submission of their 2017

PRICES FOR SECURITIES TRADED AS OF

commission.He said out of this, the commission had approved the report of 32 firms while 10 were at various stages of approval. According to Thomas, as at then, 17 firms were yet to submit their results.

Thomas said there was no going back by the commission in the enforcement of penalty for late submission, stressing that there would not be an

full year results. The affected firms were also said to be risking stiffer sanction from the National Insurance Commission (NAICOM) .

The Deputy Commissioner for Insurance (Technical), NAICOM, Mr. Sunday Thomas, had told THISDAY that as of June 20th, 41 out of 58 insurance firms had submitted their 2017 financial results to the

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

Price List (Equities) PRICES FOR PREMIUM BOARD SECURITIES FINANCIAL SERVICES

S/N 1 2 3 BANKING S/N 4 OTHER FINANCIAL INSTITUTIONS FINANCIAL SERVICES INDUSTRIAL GOODS S/N 5 6 BUILDING MATERIALS INDUSTRIAL GOODS OIL AND GAS S/N 7 EXPLORATION AND PRODUCTION OIL AND GAS PREMIUM BOARD TOTALS Price List (Equities) PRICES FOR MAIN BOARD SECURITIES AGRICULTURE S/N 8 9 10 CROP PRODUCTION S/N 11 FISHING/HUNTING/TRAPPING S/N 12 LIVESTOCK/ANIMAL SPECIALTIES AGRICULTURE CONGLOMERATES S/N 13 14 15 16 17 DIVERSIFIED INDUSTRIES CONGLOMERATES CONSTRUCTION/REAL ESTATE S/N 18 BUILDING CONSTRUCTION S/N 19 20 INFRASTRUCTURE/HEAVY CONSTRUCTION S/N 21 REAL ESTATE DEVELOPMENT S/N 22 23 24 REAL ESTATE INVESTMENT TRUSTS (REITS) CONSTRUCTION/REAL ESTATE CONSUMER GOODS S/N 25 AUTOMOBILES/AUTO PARTS S/N 26 27 28 29

BANKING ACCESS BANK PLC. UNITED BANK FOR AFRICA PLC ZENITH INTERNATIONAL BANK PLC OTHER FINANCIAL INSTITUTIONS FBN HOLDINGS PLC

MARKET CAP(Nm) 299,404.51

PRICE

TRADES

VOLUME

30 BEVERAGES--BREWERS/DISTILLERS S/N

10.35

-0.48

123

5,216,484

359,093.92

10.50

-0.48

181

12,566,746

772,353.75

24.60

-1.60

346

8,779,476

31

650

26,562,706

32

PRICE

%CHANGE

TRADES

VOLUME

33

10.60

-0.47

34

MARKET CAP(Nm) 380,490.10

MARKET PRICE CAP(Nm) DANGOTE CEMENT PLC 3,818,777.71 224.10 LAFARGE AFRICA PLC. 355,176.89 40.95

BUILDING MATERIALS

EXPLORATION AND PRODUCTION SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

%CHANGE

MARKET CAP(Nm)

PRICE

382,488.96

650.00

265

23,701,187

265

23,701,187

915

50,263,893

%CHANGE

TRADES

VOLUME

-2.14 -

124 32 156 156

1,708,073 112,373 1,820,446 1,820,446

TRADES

VOLUME

35 36

%CHANGE -

8

5,604

8

5,604

8 1,079

5,604 52,089,943

37 38 FOOD PRODUCTS S/N 39 40 FOOD PRODUCTS--DIVERSIFIED S/N 41 42 HOUSEHOLD DURABLES S/N

MARKET CAP(Nm) 440.00

43

CROP PRODUCTION FTN COCOA PROCESSORS PLC OKOMU OIL PALM PLC. PRESCO PLC

87,759.72 75,100.00

75.10

FISHING/HUNTING/ TRAPPING ELLAH LAKES PLC.

MARKET CAP(Nm) 511.20

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.

BUILDING CONSTRUCTION ARBICO PLC. INFRASTRUCTURE/ HEAVY CONSTRUCTION JULIUS BERGER NIG. PLC. ROADS NIG PLC. 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 INVESTMENT TRUST

MARKET CAP(Nm) 2,280.00

MARKET CAP(Nm) 1,297.17

PRICE

%CHANGE

TRADES

VOLUME

0.20

-

0

0

92.00

-

21

125,850

0.13

12 33

205,059 330,909

PRICE

%CHANGE

TRADES

VOLUME

4.26

-

0 0

0 0

PRICE

%CHANGE

TRADES

VOLUME

0.76

-

10

36,434

10

36,434

43

367,343

PRICE

%CHANGE

TRADES

VOLUME

44 PERSONAL/HOUSEHOLD PRODUCTS CONSUMER GOODS FINANCIAL SERVICES

46 47 48 49 50 51 52 53 54 BANKING

9

5,170

-

2 0

600 0

54,468.31

1.34

-4.29

92

11,620,435

55

40,338.15

14.00

-

22 125 125

202,872 11,829,077 11,829,077

56 57 58

%CHANGE

TRADES

VOLUME

59

4.79

-

0 0

0 0

60 61

VOLUME

37,026.00

28.05

2.00

17

649,883

165.00

6.60

-

MARKET CAP(Nm) 4,962.94

S/N

PRICE

TRADES

0

0

17

649,883

62 63 64 65

PRICE

%CHANGE

TRADES

VOLUME

1.91

-

7

27,801

66

7

27,801

67

MARKET CAP(Nm) 1,900.00

PRICE

%CHANGE

TRADES

VOLUME

95.00

-

0

0

11,300.89

45.20

-

1

2

70

26,682.70

10.00

-

1

10

71 72

AUTOMOBILES/AUTO PARTS DN TYRE & RUBBER PLC

MARKET CAP(Nm) 1,384.07

BEVERAGES--BREWERS/DISTILLERS CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC.

MARKET CAP(Nm) 15,658.99

2

12

26

677,696

69

73

%CHANGE

TRADES

VOLUME

74

0.29

-

0 0

0 0

75

PRICE

%CHANGE

TRADES

VOLUME

76 77

2.00

-

11

29,910

0.89

-

0

0

216,957.42

99.05

1.33

16

105,193

364,034.75

68

PRICE

242.22

42.35

-

11

32,141

PERSONAL/HOUSEHOLD PRODUCTS P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC.

MARKET CAP(Nm) 82,188.87 301,612.78

3,231.35

MARKET CAP(Nm) 31,961.34

DIAMOND BANK PLC ECOBANK TRANSNA366,991.02 TIONAL INCORPORATED FIDELITY BANK PLC 63,744.55 GUARANTY TRUST 1,177,247.17 BANK PLC. JAIZ BANK PLC 20,624.97 SKYE BANK PLC 9,577.41 STERLING BANK PLC. 40,306.59 UNION BANK NIG.PLC. 174,724.52 UNITY BANK PLC 12,390.70 WEMA BANK PLC. 28,159.36

-

%CHANGE

MARKET CAP(Nm) 1,680.31

45

0.58 3.25

PRICE

HOUSEHOLD DURABLES NIGERIAN ENAMELWARE PLC. VITAFOAM NIG PLC.

78 79

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. UNIVERSAL INSURANCE COMPANY PLC VERITAS KAPITAL ASSURANCE PLC

-0.96

64

389,218

102

556,462

PRICE

%CHANGE

TRADES

VOLUME

10.10

1.00

65

2,069,622

19.00

-

39

132,669

32.80

2.50

108

1,437,102

2.07

-9.61

97

3,308,463

0.40

-

0

0

6.55

-

2

3,841

22.75

-

39

378,302

13.45

-

FOOD PRODUCTSMARKET PRICE -DIVERSIFIED CAP(Nm) CADBURY NIGERIA 24,416.63 13.00 PLC. NESTLE NIGERIA PLC. 1,248,433.60 1,575.00

BANKING

0.49

MARKET CAP(Nm)

MARKET FOOD PRODUCTS CAP(Nm) DANGOTE FLOUR MILLS 50,500.00 PLC DANGOTE SUGAR 228,000.00 REFINERY PLC FLOUR MILLS NIG. PLC. 134,492.45 HONEYWELL FLOUR 16,415.51 MILL PLC MULTI-TREX INTE1,489.00 GRATED FOODS PLC N NIG. FLOUR MILLS 1,167.21 PLC. NASCON ALLIED 60,274.72 INDUSTRIES PLC UNION DICON SALT 3,676.41 PLC.

S/N

225.71 2,111.93

MARKET CAP(Nm) 711.32

NIGERIAN BREW. PLC. 904,449.62 113.10

PRICE

1

5

351

7,330,004

%CHANGE

TRADES

VOLUME

-

18

179,945

-

22 40

13,481 193,426

%CHANGE

TRADES

VOLUME

22.10

-

0

0

3.10

-4.32

11 11

409,305 409,305

PRICE

%CHANGE

TRADES

VOLUME

20.70

-

28

90,827

52.50

-

29

145,503

57

236,330

561

8,725,527

PRICE

%CHANGE

TRADES

VOLUME

1.38

-3.50

45

2,288,232

20.00

-

34

1,825,802

2.20

-4.35

82

3,726,578

40.00

-1.23

190

5,924,025

0.70 0.69 1.40 6.00 1.06 0.73

-1.43 -1.64 9.28 1.37

7 15 19 40 9 39 480

166,214 214,437 100,355,111 704,890 191,307 16,895,702 132,292,298

MARKET CAP(Nm)

PRICE

%CHANGE

TRADES

VOLUME

4,117.00

0.20

-

1

107,000

4,643.24

0.67

9.84

51

8,971,909

29,400.00

2.80

-

7

19,103

1,960.00

0.28

-3.45

4

212,900

15,040.48

1.45

-

3

13,200

4,713.44

0.32

-8.57

6

610,900

2,940.00

0.21

-

5

30,800

2,411.47

0.53

-

0

0

1,913.74

0.50

-

0

0

2,333.20

0.38

-

2

1,200

539.32

0.42

-

1

100

2,636.44

0.36

-

5

72,638

4,038.55

0.94

-

5

11,143

6,400.00

0.80

-

4

30,000

2,720.00

0.34

-8.11

12

930,500

17,161.63

3.25

1.56

12

349,873

2,012.26

0.26

-

9

5,079

2,023.23

0.53

-3.64

7

614,310

1,667.19

0.25

-

3

11,000

2,502.25

0.30

-

0

0

5,422.63

0.42

-

1

500

4,483.72

0.48

-

3

650

516.46

0.20

-

2

107,000

8,000.00

0.50

-

0

0

4,160.00

0.30

3.45

10

397,100

˾ MONDAY, JULY 9, 2018

34

EŝŐĞƌŝĂŶ ĐŽŶŽŵLJ ĂŶĚ &ŝŶĂŶĐŝĂů DĂƌŬĞƚ ,ϭ͗ϮϬϭϴ ZĞǀŝĞǁ ĂŶĚ ,Ϯ͗ϮϬϭϴ KƵƚůŽŽŬ DŽŶĚĂLJ͕ ϵƚŚ :ƵůLJ͕ ϮϬϭϴ Where is the Growth? ͙͞In a Virtuous Cycle͟ In our earlier report, ͞The Virtuous Cycle͙ Again!͟ we highlighted that Nigeria had exited a ͞vicious cycle͟ of macroeconomic instability and weak capital market return and entered into a ͞virtuous cycle͟ ŽĨ ƐƚĂďŝůŝƚLJ ŝŶ ĞdžƚĞƌŶĂů ƐĞĐƚŽƌ ŝŶĚŝĐĂƚŽƌƐ ĂŶĚ ĮƐĐĂů ďĂůĂŶĐĞ͕ ĚĞĐůŝŶŝŶŐ ŝŶŇĂƟŽŶĂƌLJ ƉƌĞƐƐƵƌĞƐ͕ ŝŵƉƌŽǀŝŶŐ ŐƌŽǁƚŚ ƉƌŽĮůĞ͕ ŝŶĐƌĞĂƐŝŶŐůLJ ĂĐĐŽŵŵŽĚĂƟǀĞ ŵŽŶĞƚĂƌLJ ƉŽůŝĐLJ ĂŶĚ ƐƚƌŽŶŐ ĐĂƉŝƚĂů market returns. Regardless of the macroeconomic indicators that all ƉŽŝŶƚ ƚŽǁĂƌĚ Ă ƉŽƐŝƟǀĞ ŽƵƚůŽŽŬ ŽŶ ƚŚĞ ĞĐŽŶŽŵLJ͕ ŬĞLJ ĨĂĐƚŽƌƐ ǁĞ ďĞůŝĞǀĞ ǁŝůů ƐĞƚ ƚŚĞ ĞĐŽŶŽŵLJ ŽŶ Ă ƉĂƚŚ ƚŽ ĂĐŚŝĞǀŝŶŐ ŽƉƟŵĂů ĂŶĚ sustainable growth include the following.

Market Approach to Enhancing the Economics of Power Sector ůƚŚŽƵŐŚ ƚŚĞ Z'W ĞŵƉŚĂƐŝnjĞĚ ƉƌŽŵŽƟŶŐ ĞŶĞƌŐLJ ĞĸĐŝĞŶĐLJ͕ ĞƐƉĞĐŝĂůůLJ ŝŶ ƚŚĞ ƉŽǁĞƌ ƐĞĐƚŽƌ͕ ƚŚĞ ĂĐŚŝĞǀĞŵĞŶƚ ŽĨ ĞĸĐŝĞŶĐLJ ŝŶ ƚŚĞƐĞ ĐƌŝƟĐĂů ƐĞĐƚŽƌƐ ŚĂǀĞ ďĞĞŶ ůĂƌŐĞůLJ ƵŶĚĞƌǁŚĞůŵŝŶŐ͘ dŚĞ ŽŶŐŽŝŶŐ challenges regarding governance, funding, legal, regulatory and ƉƌŝĐŝŶŐ ĂĐƌŽƐƐ ƚŚĞ ƉŽǁĞƌ ƐĞĐƚŽƌ ǀĂůƵĞ ĐŚĂŝŶ ;ŐĞŶĞƌĂƟŽŶ͕ ƚƌĂŶƐŵŝƐƐŝŽŶ ĂŶĚ ĚŝƐƚƌŝďƵƟŽŶͿ ĂƌĞ LJĞƚ ƚŽ ďĞ ƌĞƐŽůǀĞĚ͘ /Ŷ ŐĞŶĞƌĂƟŽŶ͕ ƚŚĞ ĂďŝůŝƚLJ ƚŽ ƐƚĂLJ ƉƌŽĮƚĂďůĞ ŝŶ ƚŚĞ ůŽŶŐ ƚĞƌŵ ŝƐ ƚŚƌĞĂƚĞŶĞĚ ďLJ ŶŽŶŵĂƌŬĞƚ ƌĞŇĞĐƟǀĞ ƚĂƌŝīƐ ĨŽůůŽǁŝŶŐ ƚŚĞ ƐŚƵƚĚŽǁŶ ŽĨ ƚŚĞ DzdK // ;DƵůƟ zĞĂƌ dĂƌŝī KƌĚĞƌͿ ƉůĂŶ͘ dŚŽƵŐŚ ƐƚĞĂĚLJ ƉƌŽĚƵĐƟŽŶ ŚĂƐ ďĞĞŶ assured by NBET͛Ɛ ;EŝŐĞƌŝĂŶ ƵůŬ ůĞĐƚƌŝĐŝƚLJ dĂƌŝīƐͿ ƉĂƌƟĂů ŐƵĂƌĂŶƚĞĞ of payment from the CBN͛Ɛ ŝŶƚĞƌǀĞŶƟŽŶ ĨƵŶĚ ŽĨ EϳϮϬ͘ϬďŶ͕ ǁĞ ďĞůŝĞǀĞ ƚŚĞ ůĂĐŬ ŽĨ ƉŽůŝƟĐĂů ǁŝůů ƚŽ ĞŶƚƌĞŶĐŚ ĐŽƐƚ ƌĞŇĞĐƟǀĞ ƚĂƌŝīƐ ŝƐ Ă ĚƌĂŐ ƚŽ ƉƌŽŵŽƟŶŐ ƚŚĞ ĞĐŽŶŽŵŝĐƐ ŽĨ ƚŚĞ ƐĞĐƚŽƌ ĂƐ ƚŚŝƐ ĂůƐŽ ƐƚĂůůƐ investment in capacity expansion while making the sector completely non-bankable. ƵƌƌĞŶƚůLJ͕ E d͕ ǁŝƚŚ ƚŽƚĂů ĐĂƉŝƚĂů ďĂƐĞ ŽĨ h^ΨϴϬϬ͘Ϭŵ͕ ŽŏĂŬĞƐ ƉŽǁĞƌ ĨƌŽŵ ƚŚĞ ϲ ' E KƐ ĂŶĚ ϰ /WWƐ ;/ŶĚĞƉĞŶĚĞŶƚ WŽǁĞƌ WůĂŶƚͿ ƚŚƌŽƵŐŚ WW ;WŽǁĞƌ WƵƌĐŚĂƐĞ ŐƌĞĞŵĞŶƚͿ ĂŶĚ ƐĞůůƐ ƚŽ ƚŚĞ /^ KƐ ďLJ ƐŝŐŶŝŶŐ ǀĞƐƟŶŐ ĐŽŶƚƌĂĐƚƐ͘ zĞƚ͕ ƚŚĞ ǀĞƌLJ ĂƐƐƵŵƉƟŽŶƐ ŽĨ DzdK // ĐŽŵƉƵƚĂƟŽŶ͕ Ăƚ ƚŚĞ ǀĞƌLJ ŵŝŶŝŵƵŵ͕ ŚĂǀĞ ĐŚĂŶŐĞĚ ŝŶ ĞdžĐŚĂŶŐĞ ƌĂƚĞ ;Eϭϳϴͬh^Ψϭ͘ϬϬ ƌĞůĂƟǀĞ ƚŽ ĐƵƌƌĞŶƚ EϯϲϬͬh^Ψϭ͘ϬϬͿ ĂŶĚ ŐĂƐ ƉƌŝĐĞƐ ;h^ΨϮ͘ϯϬͬŵŵďƚƵ ĐŽŵƉĂƌĞĚ ƚŽ ĐƵƌƌĞŶƚ h^ΨϮ͘ϴϴͬŵŵďƚƵͿ͕ ďƵƚ ĞůĞĐƚƌŝĐŝƚLJ ƚĂƌŝīƐ ƌĞŵĂŝŶ ƚŚĞ ƐĂŵĞ͘ dŚŝƐ ƐƵŐŐĞƐƚƐ ƚŚĂƚ ďĞƚǁĞĞŶ &Ğď ϮϬϭϲ͕ ǁŚĞŶ ƚŚĞ ůĂƐƚ ƚĂƌŝī ŝŶĐƌĞĂƐĞ ǁĂƐ ŝŵƉůĞŵĞŶƚĞĚ͕ ĂŶĚ ŶŽǁ͕ E d ǁŽƵůĚ ŚĂǀĞ ŝŶĐƵƌƌĞĚ ƐŽŵĞ ƉĂLJĂďůĞƐ ĚƵĞ ƚŽ ƚŚĞ ' E KƐ͕ Ăƚ least twice the amount it should have paid using the non-market ƌĞŇĞĐƟǀĞ ƚĂƌŝīƐ͘ ,ĞŶĐĞ͕ ďĂƌƌŝŶŐ ƚŚĞ ƐƵƉƉŽƌƚ ŽĨ ƚŚĞ DŝŶŝƐƚƌLJ ŽĨ WŽǁĞƌ ĂŶĚ ƚŚĞ E͕ ƚŚĞ ĞŶƟƌĞ ĐĂƉŝƚĂů ŽĨ E d ǁŽƵůĚ ŚĂǀĞ ďLJ ŶŽǁ been eroded. It appears, therefore, that the existence of NBET in its ĐƵƌƌĞŶƚ ĨŽƌŵĂƚ ǁŚŽůůLJ ŽǁŶĞĚ ďLJ ŐŽǀĞƌŶŵĞŶƚ͕ ǁŝůů ĐŽŶƟŶƵĞ ƚŽ ďƌĞĞĚ ŝŶĞĸĐŝĞŶĐLJ ĂŶĚ ĚĞůĂLJ ƚŚĞ ƚƌĂŶƐŝƟŽŶ ƚŽ Ă ŵĂƌŬĞƚ ƌƵŶ ƐĞĐƚŽƌ͘ KŶ ƚŚĞ ƚƌĂŶƐŵŝƐƐŝŽŶ ƐŝĚĞ͕ ŐŽǀĞƌŶŵĞŶƚ ĐŽŶƟŶƵĞƐ ƚŽ ŝŶǀĞƐƚ ŝŶ expanding infrastructure to provide an avenue for wheeling energy generated through the same centralized process that we term: ͞ ĐŽŶŽŵŝĐ tĂƐƚĂŐĞ ŝŶ ^ĐĂƌĐŝƚLJ͘͟ The key issue of decentralising the ƚƌĂŶƐŵŝƐƐŝŽŶ ƉƌŽĐĞƐƐ͕ ǁŚŝĐŚ ŝƐ ƐƟůů ďĞŝŶŐ ƵŶĚĞƌŵŝŶĞĚ ďLJ ƚŚĞ government – especially given the enabling laws that are lacking, must be addressed in order to curb the current level of ŝŶĞĸĐŝĞŶĐŝĞƐ͘ ZĞĐĞŶƚ ƌĞĨŽƌŵƐ ďLJ ƚŚĞ E Z ƚŽ ĞŶĐŽƵƌĂŐĞ ŵŝŶŝ ŐƌŝĚ ƐŽůƵƟŽŶƐ͕ ŐĞŶĞƌĂƟŶŐ ůĞƐƐ ƚŚĂŶ ϭDt Žī ƚŚĞ ŶĂƟŽŶĂů ŐƌŝĚ͕ ŝƐ Ă ƉŽƐŝƟǀĞ ƐƚĞƉ ƚŚĂƚ ŶĞĞĚƐ ƚŽ ďĞ ĨƵƌƚŚĞƌ ĚĞǀĞůŽƉĞĚ ƚŽǁĂƌĚƐ ĐŽŵƉůĞƚĞ de-ĐŽŶĐĞŶƚƌĂƟŽŶ͘ ůƐŽ͕ ƚŚĞ dƌĂŶƐŵŝƐƐŝŽŶ ŽŵƉĂŶLJ ŽĨ EŝŐĞƌŝĂ ;d EͿ ŝƚƐĞůĨ ŶĞĞĚƐ ƚŽ ďĞ ƉƌŝǀĂƟƐĞĚ ĨŽƌ ŐƌĞĂƚĞƌ ĞĸĐŝĞŶĐLJ͘ /Ŷ ŽƵƌ ŽƉŝŶŝŽŶ͕ Ă ŵŽǀĞ ƚŽ ĐŚĂŶŐĞ ƚŚĞ ĞdžŝƐƟŶŐ ůĂǁƐ ŽŶ ƚƌĂŶƐŵŝƐƐŝŽŶ ĂŶĚ ĞǀĞŶ ƉƌŝǀĂƟƐĞ ƚŚĞ ƉƌŽĐĞƐƐ ǁŝůů ĂůůŽǁ ĨŽƌ ďĞƩĞƌ ĞůĞĐƚƌŝĐŝƚLJ ĐŽǀĞƌĂŐĞ͕ ŝŶĐƌĞĂƐĞĚ ƚƌĂŶƐƉĂƌĞŶĐLJ ĂŶĚ ŝŵƉƌŽǀĞĚ ĞĸĐŝĞŶĐLJ͘ >ĂƐƚůLJ͕ ĚŝƐƚƌŝďƵƟŽŶ ŚĂƐ ďĞĞŶ ŚĞĂǀŝůLJ ůĂĚĞŶ ǁŝƚŚ ƚŚĞ ƵƐƵĂů d Θ ; ŐŐƌĞŐĂƚĞ dĞĐŚŶŝĐĂů ŽŵŵĞƌĐŝĂů ĂŶĚ ŽůůĞĐƟŽŶͿ ůŽƐƐĞƐ ĂƐ ǁĞůů ĂƐ ŵĞƚĞƌŝŶŐ ŝƐƐƵĞƐ ǁŚŝĐŚ ĐŽŶƟŶƵĞ ƚŽ ĚƌĂŐ ƚŚĞ ĞŶƟƌĞ ǀĂůƵĞ-chain. In our view, resolving the metering conundrum will go a long way in ƉĞƌŵĂŶĞŶƚůLJ ƐŽůǀŝŶŐ ƚŚĞ ƉŽǁĞƌ ƐĞĐƚŽƌ ĚŝůĞŵŵĂ ŝŶ EŝŐĞƌŝĂ͘ tŚŝůĞ Ăůů ƉĂƌƚƐ ŽĨ ƚŚĞ ǀĂůƵĞ ĐŚĂŝŶ ĂƌĞ ĐƌŝƟĐĂů ƚŽ ƚŚĞ ƐƵĐĐĞƐƐ ŽĨ ƚŚĞ ƐĞĐƚŽƌ͕ ĂŶ ĞīĞĐƟǀĞ ĚŝƐƚƌŝďƵƟŽŶ ƐLJƐƚĞŵ ĂŝĚƐ ĐŽůůĞĐƟŽŶ ĂŶĚ ƉĂLJŵĞŶƚ ĨŽƌ ƉŽǁĞƌ͕ ƉƌĞǀĞŶƚƐ ƚŚĞŌ ĂŶĚ ĞŶŚĂŶĐĞƐ ĞĸĐŝĞŶĐLJ ƚŚƌŽƵŐŚ ƌĞĚƵĐƟŽŶ ŝŶ d Θ ůŽƐƐĞƐ͘ ďƐĞŶĐĞ ŽĨ ĐŽůůĞĐƟŽŶ ĐƌĞĂƚĞƐ ŝůůŝƋƵŝĚŝƚLJ ŝŶ ƚŚĞ ƐLJƐƚĞŵ – a problem which is currently curtailed by NBET͛Ɛ ŝŶƚĞƌǀĞŶƟŽŶ͘ tĞ ƐƚƌŽŶŐůLJ ďĞůŝĞǀĞ ƚŚĂƚ ŐŽǀĞƌŶŵĞŶƚ͕ ĂƐŝĚĞƐ ƌĞŐƵůĂƟŽŶ ŽĨ ďĞƐƚ ƉƌĂĐƟĐĞƐ in the industry through NERC, needs to completely hands-Žī ƉĂƌƟĐŝƉĂƟŽŶ ŝŶ ƚŚĞ ƐĞĐƚŽƌ ǁŚŝůĞ ĚŝƌĞĐƟŶŐ ĂŶLJ ŝŶƚĞƌǀĞŶƟŽŶ ƚŽǁĂƌĚƐ complete metering of consumers similar to the model deployed in <ĞŶLJĂ ƚŽ ĂƩĂŝŶ ƐŝŐŶŝĮĐĂŶƚ ŵŝůĞĂŐĞ ŝŶ ŵĞƚĞƌŝŶŐ ŽĨ ĐŽŶƐƵŵĞƌƐ͘

ƌŝǀŝŶŐ ,ƵŵĂŶ ĂƉŝƚĂů ĞǀĞůŽƉŵĞŶƚ ƚŚƌŽƵŐŚ ĚƵĐĂƟŽŶ ĂŶĚ Health ,ƵŵĂŶ ĐĂƉŝƚĂů ĚĞǀĞůŽƉŵĞŶƚ ŝŶ EŝŐĞƌŝĂ ŚĂƐ ĨĂŝůĞĚ ŵĂũŽƌůLJ ĚƵĞ ƚŽ ŝŶĞƉƟƚƵĚĞ ĂŶĚ ŶĞŐůĞĐƚ ŽĨ ǁŚĂƚ ƐŚŽƵůĚ ďĞ Ă ƉƌŝŽƌŝƚLJ ĨŽĐƵƐ ĂƌĞĂ ŽĨ Ă ƉƌŽŐƌĞƐƐŝǀĞ ŐŽǀĞƌŶŵĞŶƚ͘ /Ŷ ϮϬϭϳ͕ ƚŚĞ E ^ ĞƐƟŵĂƚĞĚ ƚŚĂƚ ĂďŽƵƚ ϳϱ͘Ϭй ;ϭ͘Ϯŵ ĂƉƉůŝĐĂŶƚƐͿ ŽĨ ƚŽƚĂů ƵŶŝǀĞƌƐŝƚLJ ĂƉƉůŝĐĂŶƚƐ ;ϭ͘ϲŵ ĂƉƉůŝĐĂŶƚƐͿ ĨĂŝůĞĚ ƚŽ ƐĞĐƵƌĞ ĂĚŵŝƐƐŝŽŶ ƚŚĂƚ LJĞĂƌ͘ dŚŝƐ ŝƐ ůĂƌŐĞůLJ ĚƵĞ ƚŽ

Afrinvest Securities Limited (RC 603 315) (A Dealing Member of the Nigerian Stock Exchange)

ĐĂƉĂĐŝƚLJ ŝŶĂĚĞƋƵĂĐŝĞƐ ŝŶ ƚŚĞ ĐƵƌƌĞŶƚ ƵŶŝǀĞƌƐŝƟĞƐ ĐŽŵƉĂƌĞĚ ƚŽ ƚŚĞ ŐƌŽǁŝŶŐ ƐƚƵĚĞŶƚ ƉŽƉƵůĂƟŽŶ͘ Ɛ Ă ĐĂƐĞ ŝŶ ƉŽŝŶƚ͕ ƚŚĞƌĞ ĂƌĞ ũƵƐƚ ŽǀĞƌ ϭϱϬ ƵŶŝǀĞƌƐŝƟĞƐ ŝŶ EŝŐĞƌŝĂ ǁŝƚŚ Ă ƚŽƚĂů ĂĚŵŝƐƐŝŽŶ ĐĂƉĂĐŝƚLJ ŽĨ ϱϬϬ͕ϬϬϬ ƉĞŽƉůĞ ĐŽŵƉĂƌĞĚ ǁŝƚŚ ŶĂĚŽůƵ ŝŶ dƵƌŬĞLJ ǁŚŝĐŚ ĂĚŵŝƚƐ ϱϱϬ͕ϬϬϬ ƐƚƵĚĞŶƚƐ ŽŶůŝŶĞ ĂŶĚ ϳ͕ϬϬϬ ƐƚƵĚĞŶƚƐ ŽŶ ĐĂŵƉƵƐ ĂŶŶƵĂůůLJ͘ tĞ ŶŽƚĞ ƚŚĂƚ ŐŝǀĞŶ ƚŚĞ ƌŽůĞ ŽĨ ĞĚƵĐĂƟŽŶ ĂƐ Ă ƚŽŽů ĨŽƌ ĞĐŽŶŽŵŝĐ ĞŵĂŶĐŝƉĂƟŽŶ͕ ŝŶĐƌĞĂƐŝŶŐ ƚŚĞ ĂĐĐĞƐƐ ƚŽ ĞĚƵĐĂƟŽŶ ǁŝůů ĮůƚĞƌ ŝŶƚŽ ĞdžƉĂŶĚŝŶŐ ƚŚĞ ŬŶŽǁůĞĚŐĞ͕ ƐŬŝůů ĂŶĚ ĞĸĐŝĞŶĐLJ ŽĨ ůĂďŽƵƌ͘ EĞǀĞƌƚŚĞůĞƐƐ͕ ĂĚĚƌĞƐƐŝŶŐ ƚŚŝƐ ƐLJƐƚĞŵŝĐ ĚĞĮĐŝĞŶĐLJ ǁŽƵůĚ ƌĞƋƵŝƌĞ Ă ƌŽďƵƐƚ ĂŶĚ ĨƵŶĐƟŽŶĂů ĞĚƵĐĂƟŽŶĂů ƐLJƐƚĞŵ ƚŚĂƚ ǁĞ ƐƚƌŽŶŐůLJ ďĞůŝĞǀĞ ŝƐ easier resolved with technology as investment in classroom ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ǁŽƵůĚ ƌĞƋƵŝƌĞ ƐŝŐŶŝĮĐĂŶƚ ƌĞƐŽƵƌĐĞƐ ĂŶĚ ǁŝůů ŶĞǀĞƌ ĐĂƚĐŚƵƉ ǁŝƚŚ ƉĞŶƚ ƵƉ ĚĞŵĂŶĚ ĂŶĚ ƉŽƉƵůĂƟŽŶ ŐƌŽǁƚŚ͘

Likewise, the health sector in Nigeria is largely unreliable as even ƌĞŇĞĐƚĞĚ ŝŶ WƌĞƐŝĚĞŶƚ ƵŚĂƌŝ͛s lack of trust in the local health ŝŶĚƵƐƚƌLJ͘ ĞƐƉŝƚĞ ƚŚĞ WƌĞƐŝĚĞŶƚ͛s noted disapproval of foreign ŵĞĚŝĐĂů ƚƌŝƉƐ ďLJ ŐŽǀĞƌŶŵĞŶƚ ŽĸĐŝĂůƐ ŝŶ Ɖƌŝů ϮϬϭϲ͕ ŚĞ ŚĂƐ ŚŝŵƐĞůĨ ŵĂĚĞ ŵƵůƟƉůĞ ƚƌŝƉƐ ĂďƌŽĂĚ ĨŽƌ ŵĞĚŝĐĂů ƚƌĞĂƚŵĞŶƚ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ŚĞĂůƚŚ ŝŶƐƵƌĂŶĐĞ ĐŽǀĞƌĂŐĞ ŝŶ EŝŐĞƌŝĂ ŝƐ ǀĞƌLJ ůŽǁ ǁŝƚŚ ϱ͘Ϭй ŽĨ ƚŚĞ ƚŽƚĂů ƉŽƉƵůĂƟŽŶ ĐŽǀĞƌĞĚ ďLJ ƚŚĞ EĂƟŽŶĂů ,ĞĂůƚŚ /ŶƐƵƌĂŶĐĞ ^ĐŚĞŵĞ ;E,/^Ϳ͘ dŚĞ ŶƵŵďĞƌ ŽĨ ŚĞĂůƚŚ ĐĂƌĞ ƉƌŽĨĞƐƐŝŽŶĂůƐ ŝŶ EŝŐĞƌŝĂ ŝƐ ĂďLJƐŵĂů ƌĞůĂƟǀĞ ƚŽ ƚŚĞ ƉŽƉƵůĂƟŽŶ ĂƐ ƌĞŇĞĐƚĞĚ ŝŶ ƚŚĞ ĚŽĐƚŽƌ ƚŽ ƉĂƟĞŶƚ ƌĂƟŽ ŽĨ ϭ͗ϲϬϬϬ ŝŶ EŝŐĞƌŝĂ ĂŐĂŝŶƐƚ ϭ͗ϮϬϴϯ͕ ϭ͗ϭϯϬϬ ĂŶĚ ϭ͗ϰϬϬ in India, South Africa and the United States. This is further worsened ďLJ ƚŚĞ ŵŝŐƌĂƟŽŶ ŽĨ ŚĞĂůƚŚ ƉƌŽĨĞƐƐŝŽŶĂůƐ ĨƌŽŵ EŝŐĞƌŝĂ Ăƚ ĂŶ ŝŶĐƌĞĂƐŝŶŐůLJ ĂůĂƌŵŝŶŐ ƌĂƚĞ͘ >ĂƐƚ LJĞĂƌ͕ ƚŚĞ EŝŐĞƌŝĂŶ DĞĚŝĐĂů ƐƐŽĐŝĂƟŽŶ ŶŽƚĞĚ ƚŚĂƚ ŵŽƌĞ ƚŚĂŶ ϰϬ͕ϬϬϬ ŽĨ ƚŚĞ ϳϱ͕ϬϬϬ ƌĞŐŝƐƚĞƌĞĚ EŝŐĞƌŝĂŶ ĚŽĐƚŽƌƐ ǁĞƌĞ ƉƌĂĐƟĐŝŶŐ ĂďƌŽĂĚ͘ tĞ ŶŽƚĞ ƚŚĂƚ ŝĨ ƚŚŝƐ ŝƐ ůĞŌ ƵŶĂĚĚƌĞƐƐĞĚ͕ ƚŚĞ ĐŽŶƟŶƵŽƵƐ ďƌĂŝŶ ĚƌĂŝŶ ǁŽƵůĚ ŚĂǀĞ ĨĂƌ ƌĞĂĐŚŝŶŐ impact on the general health and well-ďĞŝŶŐ ŽĨ EŝŐĞƌŝĂŶƐ͘ tĞ believe that government would need to increase and channel ďƵĚŐĞƚĂƌLJ ĂůůŽĐĂƟŽŶ ƚŽ ƚŚĞ ŚĞĂůƚŚ ƐĞĐƚŽƌ ĂŶĚ ĞŶŐĂŐĞ ŚĞĂůƚŚ insurance-ƉƌŝǀĂƚĞ ƐĞĐƚŽƌ ĚƌŝǀĞŶ ŵŽĚĞů ƚŽ ĮdžŝŶŐ ƚŚĞ ŚĞĂůƚŚ ŝƐƐƵĞƐ ŝŶ ƚŚĞ ĐŽƵŶƚƌLJ͘ DŽƌĞ ŝŵƉŽƌƚĂŶƚůLJ͕ ǁĞ ďĞůŝĞǀĞ ĞĸĐŝĞŶĐLJ ƉƌŝŶĐŝƉůĞƐ should drive any investment model for the health sector.

ĞĐŝƐŝǀĞ džĞĐƵƟǀĞ ^ƚĂŶĐĞ ŽŶ &ŝdžŝŶŐ ^ĞĐƵƌŝƚLJ ^ƟŐŵĂ The incessant security crises witnessed in recent years and more ƉƌŽŵŝŶĞŶƚůLJ ŝŶ ,ϭ͗ϮϬϭϴ͕ ŝƐ Ă ŵĂũŽƌ ƚŚƌĞĂƚ ƚŽ EŝŐĞƌŝĂ͛s unity and ƐƵƐƚĂŝŶĂďŝůŝƚLJ ĂƐ Ă ŶĂƟŽŶ ǁŝƚŚ ͞claimed͟ ĂĐƟŽŶƐ ĂŶĚ ŝŶƚĞƌǀĞŶƟŽŶƐ ďLJ ƚŚĞ &ĞĚĞƌĂů 'ŽǀĞƌŶŵĞŶƚ LJŝĞůĚŝŶŐ ůŝƩůĞ Žƌ ŶŽ ƌĞƐƵůƚƐ͘ &ŝƌƐƚ ĂŶĚ ĨŽƌĞŵŽƐƚ͕ ƚŚĞ ŐŽǀĞƌŶŵĞŶƚ ƐĐŽƌĞƐ ǀĞƌLJ ƉŽŽƌůLJ ŝŶ ĨƵůĮůůŝŶŐ ŝƚƐ ŬĞLJ ĐŽŶƐƟƚƵƟŽŶĂů ĚŝƌĞĐƟǀĞ ǁŚŝĐŚ ƐƚĂƚĞƐ ƚŚĂƚ͗ ͞the primary purpose of ŐŽǀĞƌŶŵĞŶƚ ƐŚĂůů ďĞ ƚŚĞ ƉƌŽƚĞĐƟŽŶ ĂŶĚ ƐĞĐƵƌŝƚLJ ŽĨ ůŝǀĞƐ ĂŶĚ property͘͟ tŚŝůƐƚ ǁĞ ĂƌĞ ŽĨ ƚŚĞ ǀŝĞǁ ƚŚĂƚ ƚŚĞ ǀĂƌŝŽƵƐ ƐĞĐƵƌŝƚLJ ŝƐƐƵĞƐ plaguing the country – ŽŬŽ ,ĂƌĂŵ ŝŶƐƵƌŐĞŶĐLJ͕ ĞƚŚŶŝĐ ĂŐŝƚĂƟŽŶƐ ŝŶ ƚŚĞ ^ŽƵƚŚ ĂƐƚ͕ EŝŐĞƌ ĞůƚĂ ŵŝůŝƚĂŶĐLJ ĂŶĚ ƚŚĞ ƌĞĐĞŶƚ &ƵůĂŶŝ ,ĞƌĚƐŵĞŶͬ&ĂƌŵĞƌƐ ĐƌŝƐŝƐ - stem from several reasons, the džĞĐƵƟǀĞ͛Ɛ ŝŶĚĞĐŝƐŝǀĞ ƐƚĂŶĐĞ ŝŶ ĂĚĚƌĞƐƐŝŶŐ ƚŚĞŵ ŝŶ Ă ƟŵĞůLJ ŵĂŶŶĞƌ ŚĂƐ ĨƵƌƚŚĞƌ ĞdžĂĐĞƌďĂƚĞĚ ƚŚĞ ƐŝƚƵĂƟŽŶ͘ ůƚŚŽƵŐŚ ĂŐŝƚĂƟŽŶƐ ŝŶ ƚŚĞ ^ŽƵƚŚ ĂƐƚ ĂŶĚ EŝŐĞƌ ĞůƚĂ ŚĂǀĞ ďĞĞŶ ůĂƌŐĞůLJ ŵŝŶŝŵĂů ŝŶ ƚŚĞ ĮƌƐƚ ŚĂůĨ ŽĨ ƚŚĞ LJĞĂƌ͕ ƚŚĞ ,ĞƌĚƐŵĞŶͬ&ĂƌŵĞƌƐ ĐƌŝƐŝƐ ĂŶĚ ŽŬŽ ,ĂƌĂŵ ŝŶƐƵƌŐĞŶĐLJ ŚĂǀĞ ĐŽŶƟŶƵĞĚ ƚŽ ĂĐĐŽƵŶƚ ĨŽƌ ƌĞĐŽƌĚ ŚŝŐŚ ĚĞĂƚŚƐ ǁŝƚŚ ŽǀĞƌ ϭ͕ϴϭϯ ĚĞĂƚŚƐ ŝŶ ,ϭ͗ϮϬϭϴ͘ To further compound the issue, there have been several calls ĂŐĂŝŶƐƚ ƚŚĞ ƌĞŐŝŽŶĂů ĨĂǀŽƵƌŝƟƐŵ ŽĨ ŬĞLJ ĂƉƉŽŝŶƚŵĞŶƚƐ ŝŶ ƚŚĞ ĐĂďŝŶĞƚ͘ ƵƌƌĞŶƚůLJ͕ ĐĂ͘ ϴϬ͘Ϭй ŽĨ ƐĞĐƵƌŝƚLJ ĐŚŝĞĨƐ ĂƌĞ ĨƌŽŵ ƚŚĞ ŶŽƌƚŚ ĂŶĚ ƚŚĞŝƌ ƌĞůĂƟǀĞ ƵŶĚĞƌƉĞƌĨŽƌŵĂŶĐĞ ƐŝŶĐĞ ĂƐƐƵŵŝŶŐ ŽĸĐĞ - which was evident in the Benue, Taraba and Plateau massacres - have been ƚƌĞĂƚĞĚ ǁŝƚŚ ůĞǀŝƚLJ͘ dŝůů ĚĂƚĞ͕ ŶŽŶĞ ŽĨ ƚŚĞƐĞ ĐŚŝĞĨ ƐĞĐƵƌŝƚLJ ŽĸĐĞƌƐ ŚĂǀĞ ďĞĞŶ ƐĂŶĐƟŽŶĞĚ ĨŽƌ ƚŚĞŝƌ ƐůŽǁ ƌĞƐƉŽŶƐĞƐ ĚƵƌŝŶŐ ƟŵĞƐ ŽĨ distress and the Presidency appears to be unperturbed. In our opinion, the inability to prevent avoidable deaths is a clear ĚĞŵŽŶƐƚƌĂƟŽŶ ŽĨ ĂďƌŽŐĂƟŽŶ ŽĨ ƚŚĞ ƌĞƐƉŽŶƐŝďŝůŝƚLJ ŽĨ ŐŽǀĞƌŶŵĞŶƚ͘ tŝƚŚŽƵƚ Ă ĚŽƵďƚ͕ ǁĞ ďĞůŝĞǀĞ ƚŚĞƌĞ ŝƐ ĂŶ ƵƌŐĞŶƚ ŶĞĞĚ ĨŽƌ Ă ƌĂĚŝĐĂů overhaul in Nigeria͛Ɛ ƐĞĐƵƌŝƚLJ ĂƌĐŚŝƚĞĐƚƵƌĞ ƉĂƌƟĐƵůĂƌůLJ ǁŝƚŚ ƌĞŐĂƌĚƐ ƚŽ ƉŽůŝĐŝŶŐ͘ tĞ ƐƚƌŽŶŐůLJ ďĞůŝĞǀĞ ƚŚĂƚ ƉŽůŝĐŝŶŐ ƐŚŽƵůĚ ďĞ decentralized and moved from the exclusive to the concurrent list in ůŝŶĞ ǁŝƚŚ ďĞƐƚ ƉƌĂĐƟĐĞƐ ŐŝǀĞŶ ƚŚĞ ůĂŶŐƵĂŐĞ ĂŶĚ ĐƵůƚƵƌĂů ĚŝǀĞƌƐŝƚLJ͕ geographic spread and under developed infrastructure of the ĐŽƵŶƚƌLJ͘ tĞ ƐĞĞ ƚŚĞ ƐƚĂƚĞ ŽĨ ƐĞĐƵƌŝƚLJ ĂƐ Ă ƟĐŬŝŶŐ ƟŵĞ ďŽŵď ƚŚĂƚ ŝĨ ŶŽƚ ĚĞĨƵƐĞĚ ĐŽƵůĚ ďĞ Ă ŵĂũŽƌ ƚŚƌĞĂƚ ƚŽ ƚŚĞ ƐŽĐŝŽ - ƉŽůŝƟĐĂů ƐƚĂďŝůŝƚLJ of the economy in the near term.

ƌŝĚŐŝŶŐ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ ĞĮĐŝƚ ĂŶĚ WƌŽŵŽƟŶŐ &ŝƐĐĂů ZĞǀĞŶƵĞ ŝǀĞƌƐŝĮĐĂƟŽŶ dŚĞ ǁŝĚĞŶŝŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂů ĚĞĮĐŝƚ ŚĂƐ ĐŽŶƟŶƵĞĚ ƚŽ ŚĂŵƉĞƌ ĐŽŵƉĞƟƟǀĞŶĞƐƐ ĂŶĚ ŐƌŽǁƚŚ ŝŶ ƚŚĞ EŝŐĞƌŝĂŶ ĞĐŽŶŽŵLJ͘ dŽ ƚĂĐŬůĞ ƚŚŝƐ ĐŚĂůůĞŶŐĞ͕ ƚŚĞ EĂƟŽŶĂů /ŶƚĞŐƌĂƚĞĚ /ŶĨƌĂƐƚƌƵĐƚƵƌĞ DĂƐƚĞƌ WůĂŶ ;E//DWͿ - ǁŚŝĐŚ ĨŽĐƵƐĞƐ ŽŶ ŝŶǀĞƐƟŶŐ ŝŶ ƚƌĂŶƐƉŽƌƚ͕ ĞŶĞƌŐLJ͕ / d͕ ƐŽĐŝĂů infrastructure, housing, security and agriculture - was drawn up in ϮϬϭϰ͘ ,ŽǁĞǀĞƌ͕ ŝŵƉůĞŵĞŶƚĂƟŽŶ ŽĨ ƚŚŝƐ ƉůĂŶ ŚĂƐ ƌĞŵĂŝŶĞĚ ƐƵďŽƉƟŵĂů ŐŝǀĞŶ ƚŚĞ ĂŵŽƵŶƚƐ ďƵĚŐĞƚĞĚ ĨŽƌ ƐƵĐŚ ĐƌŝƟĐĂů ƐĞĐƚŽƌƐ ƐŝŶĐĞ ƚŚĞŶ͘ ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ E//DW͕ ĂŶ ĞƐƟŵĂƚĞĚ ƚŽƚĂů ŽĨ h^Ψϯ͘ϬƚŶ ǁŝůů ďĞ needed to revamp and maintain Nigeria͛s infrastructure. The poor

ƐƚĂƚĞ ŽĨ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ŝŶ EŝŐĞƌŝĂ ŝƐ ĨƵƌƚŚĞƌ ďƵƩƌĞƐƐĞĚ ďLJ ƚŚĞ ƵŶĚĞƌƐƚĂŶĚŝŶŐ ƚŚĂƚ ƚŚĞ ŽƉƟŵĂů ƉƌŽƉŽƌƟŽŶ ŽĨ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ƐƚŽĐŬ ƚŽ ' W ŝƐ Ăƚ ĂďŽƵƚ ϳϬ͘Ϭй͖ ĐƵƌƌĞŶƚ ůĞǀĞů ŝŶ EŝŐĞƌŝĂ ŝƐ ďĞƚǁĞĞŶ ϮϬ - Ϯϱй͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ĞīŽƌƚƐ ĂŶĚ ƉŽůŝĐŝĞƐ ŐĞĂƌĞĚ ƚŽǁĂƌĚƐ ĂĐŚŝĞǀŝŶŐ ƚŚŝƐ ŐŽĂů ŚĂǀĞ ďĞĞŶ ƵŶĚĞƌǁŚĞůŵŝŶŐ ĂƐ ƌĞŇĞĐƚĞĚ ŝŶ ƚŚĞ ĚĞƚĞƌŝŽƌĂƟŶŐ ĐŽŶĚŝƟŽŶƐ ŽĨ ƐŽŵĞ ŽĨ ƚŚĞ ŬĞLJ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂů ĚĞƉĞŶĚĞŶƚ ƐĞĐƚŽƌƐ ŽĨ the economy.

EŽƚĂďůLJ͕ EŝŐĞƌŝĂŶ ƐĞĂƉŽƌƚƐ ŚĂǀĞ ďĞĞŶ ƵŶĚĞƌƵƟůŝnjĞĚ ĂŶĚ ŽƉĞƌĂƚĞĚ ŝŶ Ă ŐƌŽƐƐůLJ ŝŶĞĸĐŝĞŶƚ ŵĂŶŶĞƌ ĚĞƐƉŝƚĞ ŝƚƐ ƐŝŐŶŝĮĐĂŶƚ ĐŽŶƚƌŝďƵƟŽŶ ƚŽ government͛Ɛ ƌĞǀĞŶƵĞ ;EϮϵϵ͘ϲďŶ ŝŶ ϮϬϭϳͿ͘ ĐĐŽƌĚŝŶŐ ƚŽ ƚŚĞ E ^͕ ƉŽƌƚ ĚĂƚĂ ƌĞǀĞĂů ƚŚĂƚ ŽĐĞĂŶ ŐŽŝŶŐ ǀĞƐƐĞůƐ ĚĞĐƌĞĂƐĞĚ ƚŽ ϰ͕ϭϳϱ ŝŶ ϮϬϭϳ ĨƌŽŵ ϰ͕ϲϮϮ ŝŶ ϮϬϭϲ͕ ŝŶĚŝĐĂƟŶŐ Ă ƌĞĚƵĐĞĚ ƉƌĞĨĞƌĞŶĐĞ ĨŽƌ EŝŐĞƌŝĂŶ seaports as a result of poor infrastructure, duplicity of charges, ŝŶĞĸĐŝĞŶƚ ƐĞƌǀŝĐĞ ĚĞůŝǀĞƌŝĞƐ͕ ŚŝŐŚ ǁĂŝƟŶŐ ƉĞƌŝŽĚ ĂŶĚ ŝŶĐƌĞĂƐĞĚ dĞƌŵŝŶĂů ,ĂŶĚůŝŶŐ ŚĂƌŐĞƐ ;d, Ϳ͘ /Ŷ ĂĚĚŝƟŽŶ͕ ƚŚĞ >ĂŐŽƐ ƉŽƌƚ ƌĞŵĂŝŶƐ ƚŚĞ ŵŽƐƚ ĂĐƟǀĞ ĚƵĞ ƚŽ ŝƚƐ ƉƌŽdžŝŵŝƚLJ ƚŽ ŵĂƌŬĞƚ ĂŶĚ ĂƐ Ă ƌĞƐƵůƚ͕ ŝƐ ŽŌĞŶ ĐŽŶŐĞƐƚĞĚ ĂƐ ƚŚĞ ĞdžŝƐƟŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞ ĨŽƌ ƚƌĂŶƐƉŽƌƚĂƟŽŶ ŽĨ ŐŽŽĚƐ ƌĞŵĂŝŶƐ ďĞůŽǁ ƉĂƌ͘ tĞ ďĞůŝĞǀĞ ƚŚĂƚ ŝŵƉƌŽǀĞĚ ŽƉĞƌĂƟŽŶƐ ĂŶĚ ŝŶǀĞƐƚŵĞŶƚ ŝŶ ƚŚĞƐĞ ƉŽƌƚƐ ǁŝůů Ɛƚ ĐŽŵƉĞƟƟǀĞŶĞƐƐ ĂŶĚ ŇŽǁ ŽĨ ƚƌĂĚĞ ǁŚŝĐŚ ǁŝůů ŚĂǀĞ ƉŽƐŝƟǀĞ ƐƉŝůů-over ĞīĞĐƚƐ ŽŶ ŐƌŽǁƚŚ͘ Relatedly, improving infrastructure in Nigeria would also boost the ĮƐĐĂů ƌĞǀĞŶƵĞ ďĂƐĞ ǁŚŝĐŚ ĨƵƌƚŚĞƌ ƐƵƉƉŽƌƚƐ ƚŚĞ ŐŽĂů ŽĨ ƌĞǀĞŶƵĞ ĚŝǀĞƌƐŝĮĐĂƟŽŶ ĂǁĂLJ ĨƌŽŵ Žŝů͘ KƚŚĞƌ ƐĞĐƚŽƌƐ ƚŚĂƚ ǁŝůů ďĞŶĞĮƚ ĨƌŽŵ increased spending on infrastructure include agriculture, manufacturing and trade, all of which also have a catalysing impact ŽŶ ƚŚĞ ĞĐŽŶŽŵLJ Ăƚ ůĂƌŐĞ͘ tĞ ƌĞĐŽŵŵĞŶĚ ƚŚĞ ĂĚŽƉƟŽŶ ŽĨ ŵŽƌĞ Public Private Partnership structures by the government as a more ĞĸĐŝĞŶƚ ƌŽƵƚĞ ƚŽ ĚƌŝǀŝŶŐ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂů ĚĞǀĞůŽƉŵĞŶƚ ĂƐ ǁĞůů ĂƐ ƐƚƌĞŶŐƚŚĞŶŝŶŐ ĮƐĐĂů ĚŝǀĞƌƐŝĮĐĂƟŽŶ͘ &ƵƌƚŚĞƌŵŽƌĞ͕ ŝŶĨƌĂƐƚƌƵĐƚƵƌĂů ĚĞǀĞůŽƉŵĞŶƚ ƚŚƌŽƵŐŚ ĞīĞĐƟǀĞ ƵƟůŝnjĂƟŽŶ ŽĨ ĞĂƌŵĂƌŬĞĚ ĨƵŶĚƐ ǁŝůů ĨƵƌƚŚĞƌ ĚƌŝǀĞ ƌĞĂů ƐĞĐƚŽƌ ŐƌŽǁƚŚ ĂŶĚ ŝŵƉƌŽǀĞ ƚƌĂĚĞ ĐŽŵƉĞƟƟǀĞŶĞƐƐ͘

WƌĞƐĞƌǀŝŶŐ ĞŵŽĐƌĂƟĐ /ŶƐƟƚƵƟŽŶƐ Professionalism in Governance

ĂŶĚ

ŶƚƌĞŶĐŚŝŶŐ

dŚĞƌĞ ŝƐ ŶŽ ŐĂŝŶƐĂLJŝŶŐ ƚŚĞ ŶĞĞĚ ƚŽ ƐƚƌĞŶŐƚŚĞŶ ƚŚĞ ĮďƌĞ ŽĨ ƚŚĞ ĞdžŝƐƟŶŐ ŝŶƐƟƚƵƟŽŶƐ ŝŶ ƚŚĞ ĐŽƵŶƚƌLJ ĂŶĚ ĞŶƐƵƌŝŶŐ ƚŚĂƚ ƚŚĞLJ ƌĞŵĂŝŶ ƚƌƵůLJ ĚĞŵŽĐƌĂƟĐ͕ ĚĞǀŽŝĚ ŽĨ ĞƚŚŶŝĐ ĂŶĚ ƌĞůŝŐŝŽƵƐ ĐŽůŽƵƌĂƟŽŶƐ ĂŶĚ truly seen to be run on the ethos of professionalism in order to preserve their strength and sacredness, regardless of changes in ŐŽǀĞƌŶŵĞŶƚ͘ tĞ ŶŽƚĞ ƚŚĞ ƌĞĐĞŶƚ ĚĞƚĞƌŝŽƌĂƟŽŶ ŝŶ ĚĞŵŽĐƌĂƟĐ ǀĂůƵĞƐ͕ ďůĂƚĂŶƚ ĚŝƐŽďĞĚŝĞŶĐĞ ŽĨ ŽƵƌƚ KƌĚĞƌƐ ďLJ ƚŚĞ džĞĐƵƟǀĞ ĂŶĚ ŝƚƐ agencies and disrespect for the principles of the rule of law as well ĂƐ ĚĞĮůĞŵĞŶƚ ŽĨ ŬĞLJ ŐŽǀĞƌŶŵĞŶƚ ƉŽƐŝƟŽŶƐ ŽŶ ƚŚĞ ĂůƚĂƌ ŽĨ ƉŽůŝƟĐƐ͕ ĞƚŚŶŝĐŝƚLJ ĂŶĚ ƌĞůŝŐŝŽŶ ǁŝƚŚŽƵƚ ĐĂƌĞĨƵů ĐŽŶƐŝĚĞƌĂƟŽŶ ŽĨ ƚŚĞ ǁŝĚĞƌ ŶĞŐĂƟǀĞ ĐŽŶƐĞƋƵĞŶĐĞƐ ŽĨ ƐƵĐŚ ĂďƵƐĞ͘ dŚĞ ŝŶĚĞƉĞŶĚĞŶĐĞ ĂŶĚ integrity of the Judiciary most especially needs to be addressed as non-ĐŽŵƉůŝĂŶĐĞ ƐĞƚƐ Ă ďĂĚ ƉƌĞĐĞĚĞŶĐĞ ĂŶĚ ŚĂǀĞ Ă ŶĞŐĂƟǀĞ ŝŵƉĂĐƚ ŝŶ ƚŚĞ ůŽŶŐ ƌƵŶ ĂƐ ƚŚŝƐ ƌĞŵĂŝŶƐ Ă ŬĞLJ ƉŝůůĂƌ ŽŶ ǁŚŝĐŚ ĚĞŵŽĐƌĂƟĐ ŝŶƐƟƚƵƟŽŶƐ ĂƌĞ ďƵŝůƚ͘ ŶŽƚŚĞƌ ŝƐƐƵĞ ƚŚĂƚ ĐĂůůƐ ĨŽƌ ĐŽŶĐĞƌŶ ŝƐ ƚŚĞ ƐĞĞŵŝŶŐ ĂďƵƐĞ ŽĨ ƚŚĞ ŝŶĚĞƉĞŶĚĞŶĐĞ ŽĨ ƐĞĐƵƌŝƚLJ ŽƉĞƌĂƟǀĞƐ ;ƐƵĐŚ ĂƐ WŽůŝĐĞ͕ ^ƚĂƚĞ ^ĞĐƵƌŝƚLJ ^ĞƌǀŝĐĞ ĞƚĐͿ͕ ǁŚŝĐŚ ƚŚĞ WƌĞƐŝĚĞŶƚ ŶĞĞĚƐ ƚŽ ĐƌŝƟĐĂůůLJ ĂĚĚƌĞƐƐ ƚŽ ƌĞƐƚŽƌĞ ƚŚĞ ƌĞƐƉĞĐƚ ĂŶĚ ĂƵƚŚŽƌŝƚLJ ŽĨ ƚŚĞƐĞ ŝŶƐƟƚƵƟŽŶƐ͘ Similarly, entrenching competence and professionalism in ŐŽǀĞƌŶŵĞŶƚ ŝƐ ŶĞĞĚĞĚ ƚŽ ďƵŝůĚ Ă ũƵƐƚ ĂŶĚ ĞƋƵŝƚĂďůĞ ƐŽĐŝĞƚLJ ĂƐ ŚŝŐŚůŝŐŚƚĞĚ ďLJ ƚŚĞ ĐŽŶƐƟƚƵƟŽŶ͘ tŚŝůƐƚ ǁĞ ĂĐŬŶŽǁůĞĚŐĞ ƚŚĞ ĨĞĚĞƌĂů ĐŚĂƌĂĐƚĞƌ ƉƌŝŶĐŝƉůĞ͕ ǁŚŝĐŚ ĂŝŵƐ ƚŽ ĨŽƐƚĞƌ ĞƋƵŝƚLJ ĂŶĚ ŝŶĐůƵƐŝǀĞŶĞƐƐ ĂƐ ƐƟƉƵůĂƚĞĚ ŝŶ ƚŚĞ ĐŽŶƐƟƚƵƟŽŶ͕ ǁĞ ďĞůŝĞǀĞ ƚŚĂƚ ĐŽŵƉĞƚĞŶĐĞ ĂŶĚ ƉƌŽĨĞƐƐŝŽŶĂůŝƐŵ ƉĂƌƟĐƵůĂƌůLJ ŝŶ ƐĞŶƐŝƟǀĞ ƐĞĐƵƌŝƚLJ ƉŽƐŝƟŽŶƐ ƐŚŽƵůĚ ŽǀĞƌƌŝĚĞ ŽƚŚĞƌ ĐŽŶƐŝĚĞƌĂƟŽŶƐ ŝŶĐůƵĚŝŶŐ ĨĞĚĞƌĂů ĐŚĂƌĂĐƚĞƌ͘

ZĞƐŽƵƌĐĞ ĞĐĞŶƚƌĂůŝnjĂƟŽŶ EĞĞĚĞĚ ĨŽƌ sŝĂďůĞ ^Ƶď-EĂƟŽŶĂů Governments Ɛ ǁĞ ŚĂǀĞ ŽŌĞŶ ŚŝŐŚůŝŐŚƚĞĚ͕ ƚŚĞƌĞ ŝƐ ƚŚĞ ŶĞĞĚ ƚŽ ĐƌĞĂƚĞ ǀŝĂďůĞ ^ƵďEĂƟŽŶĂů ŐŽǀĞƌŶŵĞŶƚƐ ŝŶ ŽƌĚĞƌ ƚŽ ŝŶĐƌĞĂƐĞ ƚŚĞ ƉĂĐĞ ŽĨ ŐƌŽǁƚŚ ĂŶĚ development of the states. This can be achieved by encouraging and driving states͛ viability through resource control. An analysis of the economic viability of the various states in the country has become increasingly important given the heavy dependence on federal ĂůůŽĐĂƟŽŶƐ͘ dŚŝƐ ŚĂƐ ďĞĐŽŵĞ ƌĂƚŚĞƌ ƵŶƐƵƐƚĂŝŶĂďůĞ ŐŝǀĞŶ ƚŚĞ ƐŚĂďďLJ ŐŽǀĞƌŶŵĞŶƚ ƌĞǀĞŶƵĞ ĐŽŶƐĞƋƵĞŶƚ ŽŶ ƚŚĞ ĨĂůů ŝŶ ĐƌƵĚĞ Žŝů ƉƌŝĐĞƐ ǁŚŝĐŚ is yet to recover to the pre-ϮϬϭϱ ůĞǀĞůƐ͖ ƚŚŝƐ ŚĂƐ ŶĞĐĞƐƐŝƚĂƚĞĚ Ă ĚĞĐůŝŶĞ ŝŶ ƚŚĞ ŵŽŶƚŚůLJ ĂůůŽĐĂƟŽŶ ŽĨ ƐƟƉĞŶĚƐ ƚŽ ƚŚĞ ^ƚĂƚĞƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ^ƚĂƚĞ ŐŽǀĞƌŶŵĞŶƚƐ ŶĞĞĚ ƚŽ ůŽŽŬ ŝŶǁĂƌĚ ĂŶĚ strengthen their internally generated revenue structure to ƐƵďƐƚĂŶƟĂůůLJ ĐƌĞĂƚĞ Ă ĚĞƉĂƌƚƵƌĞ ĨƌŽŵ ƚŚĞ ŚĞĂǀLJ ĚĞƉĞŶĚĞŶĐĞ ŽŶ &ĞĚĞƌĂů ŐŽǀĞƌŶŵĞŶƚ ƌĞǀĞŶƵĞ͘ >ĂŐŽƐ ĂŶĚ ZŝǀĞƌƐ ^ƚĂƚĞ͕ ĂƌĞ ƚǁŽ ŽĨ ƚŚĞ ĨĞǁ ƐƚĂƚĞƐ ŝŶ ƚŚĞ ĐŽƵŶƚƌLJ ƚŚĂƚ ĐĂŶ ĨƵůĮů ƚŚĞŝƌ ĞĐŽŶŽŵŝĐ ŽďůŝŐĂƟŽŶƐ ǁŝƚŚŽƵƚ ŶĞĐĞƐƐĂƌŝůLJ ĚĞƉĞŶĚŝŶŐ ŽŶ ƚŚĞ ĂůůŽĐĂƟŽŶ ĨƌŽŵ ƚŚĞ &ĞĚĞƌĂů ŐŽǀĞƌŶŵĞŶƚ͘ dŚĞ ϮϬϭϳ ĚĂƚĂ ĨŽƌ /ŶƚĞƌŶĂůůLJ 'ĞŶĞƌĂƚĞĚ ZĞǀĞŶƵĞ ;/'ZͿ ĨŽƌ ĞĂĐŚ ŽĨ ƚŚĞ ϯϲ ƐƚĂƚĞƐ ƌĞůĞĂƐĞĚ ďLJ ƚŚĞ EĂƟŽŶĂů ƵƌĞĂƵ ŽĨ ^ƚĂƟƐƟĐƐ ;E ^Ϳ ŝŶĚŝĐĂƚĞĚ ƚŚĂƚ >ĂŐŽƐ ĂŶĚ ZŝǀĞƌƐ ^ƚĂƚĞ ĂĐĐŽƵŶƚĞĚ ĨŽƌ ĂďŽƵƚ ϰϱ͘Ϯй ŽĨ ƚŽƚĂů /'Z ŝŶ ƚŚĞ ĐŽƵŶƚƌLJ͘ ǀŝƐŝƚ ǁǁǁ͘ƌĞƐĞĂƌĐŚ͘ĂĨƌŝŶǀƌƐƚŽƌ͘ĐŽŵ ƚŽ ƌĞĂĚ ĨƵůů ƌĞƉŽƌƚ

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Eronmosele Aziba | eaziba@afrinvest.com

35

T H I S D AY Ëž Ë&#x153; Î Ë&#x153; ͺ͸͚͜

MARKET NEWS

Cadbury Shareholders Approve 16k Dividend, Commend Return to Profitability Shareholders of Cadbury Nigeria Plc last Friday approved a total dividend of N301.51 million declared by the company for the financial year ended December 31, 2017.

The dividend, which translates to 16 kobo per share, was approved by the shareholders at the companyâ&#x20AC;&#x2122;s 53rd annual general meeting (AGM) held in Lagos.

The shareholders commended the company for the return to profitability and recommendation of the dividend.

For

instance, Mr. Emmanuel Popoola , said it was very encouraging for the company to post profit and declare dividend despite the challenging operating environment.

He urged the company to work harder in order to ensure enhanced dividends in the years ahead.

Another shareholder, Mr. Oderinde Taiwo, tasked the company to introduce new products in order to increase its market share and bottom line. He said the company should target products that

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 â&#x20AC;&#x2DC;sharesâ&#x20AC;&#x2122; on the

would address health issues like diabetes.

Taiwo also called on the company to look for cheaper means of financing its activities to reduce finance cost, advising the company to consider floating rights issue in the future for fresh capital instead of working for banks.

In his response, Chairman of Cadbury Nigeria, Mr. Atedo Peterside, said the company was working on some new products, which would be launched at the

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 04Jul-2018, unless otherwise stated.

appropriate time.

Peterside said the company built its business on four key pillars, such as price competitiveness, aggressive route to market initiatives and sustained consumer-driven activations.

He said the companyâ&#x20AC;&#x2122;s top priorities in the current year is to sustain focus on quality, drive improvements in productivity and reinforce operational efficiency to maximise its competitive advantage.

The chairman added that the company would

drive growth ahead of competition to increase market share within its product categories.

According to him, the company will continue to develop an organisation of high potential talent and sustain aggressive routeto-market initiatives.

Cadbury Nigeria posted revenue of N33.08 billion in 2017 compared with N29.98 billion achieved in the comparative period of 2016. Its profit before tax stood at N350.32 million from a loss before tax of N562. 87 million recorded

in the previous year, while profit after tax stood at N299. 99 million against a loss for the year of N296.

40 million recorded in 2016.

The company said refreshment beverages which include Bournvita and Cadbury 3-in-1 hot chocolate contributed 55 per cent to its revenue in 2017, while 31 per cent was from confectioneries such as Tom-Tom peppermint and its variants, while 14 per cent of the revenue came from Intermediate Cocoa products.

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 186.61 186.62 4.80% Nigeria International Debt Fund 252.70 252.71 9.17% 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 0.84 0.85 1.69% ACAP Income Funds 0.64 0.64 7.06% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.00% 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 N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A 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 N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A 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 N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A 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 N/A N/A N/A 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 11.73% Coronation Balanced Fund 1.15 1.18 10.10% Coronation Fixed Income Fund 1.14 1.17 9.69% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,165.80 1,166.55 7.84% FBN Heritage Fund 147.60 148.87 4.93% FBN Money Market Fund 100.00 100.00 12.06% FBN Nigeria Eurobond (USD) Fund - Institutional 112.30 112.85 1.60% FBN Nigeria Eurobond (USD) Fund - Retail 112.12 112.67 1.66% FBN Nigeria Smart Beta Equity Fund 175.11 177.39 8.98% 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 1.38 1.41 5.94% Legacy Debt Fund 3.08 3.08 6.66% 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 3,135.23 3,168.05 5.02% Coral Income Fund 2,648.69 2,648.69 8.22% 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 12.68% Nigeria Entertainment Fund 103.38 104.51 3.48% 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 12.75% Vantage Balanced Fund 2.17 2.19 2.83% Vantage Guaranteed Income Fund 1.00 1.00 14.19% Kedari Investment Fund (KIF) 120.69 121.04 4.93%

LOTUS CAPITAL LTD ďŹ ncon@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 4.32% Lotus Halal Fixed Income Fund 1,082.23 1,082.23 7.27% 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 13.53 13.65 3.04% Meristem Money Market Fund 10.00 10.00 11.49% 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 1.35 1.37 13.08% PACAM Fixed Income Fund 11.82 11.87 7.05% PACAM Money Market Fund 10.00 10.00 11.43% 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 133.48 135.88 3.66% 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 1.60 1.60 7.82% 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 2,386.85 2,406.93 6.42% Stanbic IBTC Bond Fund 186.63 186.63 5.77% Stanbic IBTC Ethical Fund 1.04 1.06 3.96% Stanbic IBTC Guaranteed Investment Fund 240.10 240.16 9.03% Stanbic IBTC Iman Fund 184.49 186.58 3.02% Stanbic IBTC Money Market Fund 100.00 100.00 12.30% Stanbic IBTC Nigerian Equity Fund 9,800.25 9,933.74 1.35% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 3.76% 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 N/A N/A N/A United Capital Bond Fund N/A N/A N/A United Capital Equity Fund N/A N/A N/A United Capital Money Market Fund N/A N/A N/A United Capital Eurobond Fund N/A N/A N/A United Capital Wealth for Women Fund N/A N/A N/A 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 13.06 13.27 4.36% Zenith Ethical Fund 13.81 13.97 4.93% Zenith Income Fund 20.48 20.47 8.20% Zenith Money Market Fund 1.00 1.00 12.00%

REITS NAV Per Share

Yield / T-Rtn

11.41 136.51 103.70 51.30

1.01% 3.06%

Bid Price

Offer Price

Yield / T-Rtn

12.12 150.03 110.95

12.22 153.15 112.97

-0.01% 5.02% 1.53%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Nigeria Infrastructure Debt Fund Union Homes REIT

0.92%

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 GrifďŹ n 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

4.67 8.99 17.66 19.62 144.13

4.71 9.07 17.76 19.82 146.13

-1.45% -6.01% 0.86% -0.25% 5.39%

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 managerâ&#x20AC;&#x2122;s website and FMANâ&#x20AC;&#x2122;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.

36

T H I S D AY •MONDAY JULY 9, 2018

CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com 07010510430

Fraudsters on the Prowl Desperate job seekers are being hoodwinked by fraudsters, who employ different tactics to fleece their victims. Sunday Ehigiator, who extensively investigated the trend, reports

P

icture this scenario: you are a young, budding degree holder. To pass through the higher institution, you have had to combine odd jobs here and there to complement the lean cash allowances that came from home, and still found a way to create time for your academics. You strove and strained, and eventually, you got your degree.

You went through the compulsory National Youth Service Corps (NYSC), and after months (sometimes years) of being unable to secure a job commensurate with your qualifications and experience, you got a message like this: “Hi, how are you, I hope fine (sic) my name is Ikhiena Faith, your Edo Corper mate, 2015/2016 Batch 'A' Edo State, my state code is ED/15A/1659, Ikpoba-Okha LGA. I work with Shell SPDC Oil Company, Bonny Branch, Rivers State. Have you gotten a job? If no, call me because Shell is recruiting presently, so call me if interested."

Any unsuspecting job seeker would jump at the seeming opportunity. Indeed, many unemployed youths have fallen victim to this dubious scheme in their desperation to get a job. This is the ever-present fate that seems to await many unemployed youths that roam the streets of Nigeria in search of employment.

‘Unending Suffering’ “Miracle job” was what 27-year-old Ezekiel Orji called it when he received the message quoted above. For Orji, this was the stars finally aligning for him. The message aroused no suspicion because he had, indeed, served in Ikpoba-Okha local government and had successfully passed out from the programme a few months earlier. He concluded that the message was, indeed, meant for him, and decided to call.

But that call has brought about “unending suffering” for him and his family, Orji says.

Speaking to THISDAY, Orji said he had exchanged many more phone calls with the so-called Faith, even though there were tell-tale signs that something was amiss. For instance, the fact that he still could not recall meeting her during the entire service year, or the fact that she was not even familiar with any of their supposed colleagues as at the time of service. But he still fell for the scam.

Orji said, “I guess I should have known, she didn't know much about me or about the area where I served and which she claimed she served in as well. I should have suspected that something was wrong but I was really focused on securing a job that I neglected all of the obvious errors facing me. Whenever we spoke on the phone, especially the initial calls that were made, I tried to ask her questions to figure out if I could recall her face or something.”

With the benefit of hindsight, Orji reveals that Faith always found a way to wriggle out of such tight situations and eventually gained his trust. Orji had asked her a few questions but perhaps failed to ask the most important question: why me?

Orji lost over N150, 000 sent in two instalments within a short period, potentially to pave way for his application to be accepted.

According to him, the money was borrowed by his parents on his behalf from family friends.

Experience tends to prove that many of those who succumb easily to fraudulent schemes in Nigeria (popularly called 419) are the people and lowly.

Modus operandi More than ever before, fraudulent individuals and groups are using the terrible unemployment situation as an opportunity to avail themselves of ill-gotten wealth from the countless job seekers.

Young and inexperienced people usually fall victim of this because of the anxiety to get a good job and begin a life in order to

A typical recruitment exercise

make ends meet. Checks revealed that the fraudsters are becoming more sophisticated in the way they operate and it is becoming more difficult to differentiate between them and genuine recruiters.

Of a truth, Orji's case is not an isolated one, almost on a daily basis, many Nigerians report that they receive what appear to be fraudulent messages or calls from fellow Nigerians looking to make dishonest living and take advantage of the painfully high rate of youth unemployment by offering fictitious employment offers. For instance, it is now a norm to find a lot of these fictitious job vacancies being advertised even on many job recruitment websites.

These job scammers pose daily on different social media impersonating real organisations by putting out vacancies in their names; although with any extra phrase; for instance using the name Prudential Groups instead of Prudential Insurance, for a disguise, with an aim of getting eligible candidate to fall victim of their craftiness, as they are neither registered as a real company, nor existing;

Our fake prospective employers told us that we would have to pay for their working materials, a laptop, book manuals on the basics of online networking, among others, but more importantly, pay a princely sum of N45, 000 as per registration and training fee. This would be paid upfront before we would be allowed to undergo a three-week training to familiarise us with the job

hence untraceable.

The mode by which they advertise their vacancies are diverse and deceptive whereby anyone can fall into the trap. The sole aim of these scammers is just to make people part with their hard earned money. These fraudsters are becoming more and craftier in the way they operate, and it’s becoming more difficult to differentiate between a scam and a legitimate job vacancy.

Spotting the Fake Recruiters To spot the fake recruiters, a human resources manager at an upstart IT company in Lagos, Mr. Festus Ayobami, offered some tips. Ayobami told THISDAY that it usually took two to three weeks to process the numerous job applications that came into his company, before the company eventually got back to the applicants on the status of their applications.

He noted that most scam jobs had a few features that distinguished them and made them easy to flag.

According to him, “No reputable company will ask you to come in for an interview when you only applied for the job the day before. It doesn't work like that. Unemployed youths out there have to be careful because, it usually takes two to three weeks before you will get an invite for an interview from any genuine organisation. Even at that, it is still sensible to do a simple search of the company on the internet.

"If the company has no website with descriptions of what they are doing, then it is probably not legit. Sometimes these scammers take advantage of the frustrations of job seekers by offering unbelievable monetary packages.

That's when youths should be careful. If what you will be earning is incredibly higher than what other companies are paying for that same position, suspect it.”

One unmistakable way of fishing out scam job interview messages is to check for how well written (or not well; as is usually the case) it is. Usually, according to Ayobami, “many scam interview emails are not well written. Most of the emails they send, usually contain punctuation, spelling or grammatical errors. No reputable company will send you an email that will leave you scratching your head. It is always important to check for all of these.”

Scamming Trends Indeed, many youths have received con messages and despite their initial suspicion, still went ahead to call or even attend the supposed interviews. THISDAY investigations

revealed that many youths have fallen prey to these scammers, with some of the victims duped, raped, robbed, kidnapped, or even killed.

Pius Odey, a graduate of Civil Engineering, attests to attending one of such interviews.

According to him, after applying for the job through an online job portal, he got an SMS and a mail in the latter part of the same day he had sent his application, requesting him to make himself available for a scheduled interview session at 10a.m. the following day.

Odey said, “I knew there was something suspicious about it because I have been at home for seven months after I finished NYSC and could not secure a job, but received an interview invite within such a short span of sending my resume. So what I did was to go online and type the company's name, but I didn't see anything on it. I decided not to go but my friend whom I was squatting with convinced me to attend but to take good mental note of the place when I get there and send him a message of the address so that he could trace me if anything went wrong.”

After Odey arrived at the venue for the purported interview, he observed that the building was not fit to host a company; “it was rusty and had an acrid smell.”

Odey continued, “I made enquiries and I was told to proceed to the top floor. I opened the door to find about 20 or so people crammed in an unpolished room, with about three other young men, whom were in their early 40s addressing them. He was asking us to partner him on an online networking business.

"He had such grandiose ideas. Our fake prospective employers told us that we would have to pay for their working materials, a laptop, book manuals on the basics of online networking, among others, but more importantly, pay a princely sum of N45, 000 as per registration and training fee. This would be paid upfront before we would be allowed to undergo a three-week training to familiarise us with the job.”

Odey left that day and never returned or paid a dime. He admitted that he needed to be more circumspect in handling future job applications and interview invites.

New Tactic Working undercover, this reporter recently infiltrated some of the fake job invite venues located at Palm-Groove, Yaba, Mushin, Ajah, Ajao Estate and Anthony areas of Lagos. The investigation unearthed another means of scamming.

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CITYSTRINGS These scammers now pose as recruitment agencies aiming to help people seeking employment. They distribute fliers, write on walls in noticeable places and post handbills with information about companies that are employing eligible job seekers.

Upon calling the number, these scammers, who pose as human resource agents or recruiters for the said companies offer attractive employment opportunities, which requires the job seeker to pay money in advance.

This is usually under the guise of medicals, training, travel expenses, background checks, certificate acquisition, or even work visas that are required for the job. Once the job seeker pays the money, the perpetrator disappears, and the job seeker is left with no job.

THISDAY Investigation revealed that they converge unsuspecting job seekers at a secluded location they hired on a short term basis, and after making them sit for long hours on the pretence that they are awaiting for the chairman or sometimes the head of HR of the company, the supposed chairman finally comes and further engages them in a longer hour of lectures, whereby they try to brainwash the job seekers with how they have made it big in life despite once being the rejected stone of the family.

While the supposed chairman goes on a long speech about his success, he conveniently omits his responsibility in the said company.

They often describe the business as one for networking without stating what product or services they are networking. Some even have a more sophisticated style by arranging a personal interview with the supposed head of HR or putting the job seekers to a written test, just after the long hours of verbal brainwashing, thereby promising the job seekers that only successful candidates would be contacted.

Eventually, everyone would be contacted with a message that they passed, and then be re-invited for the second phase of the exercise which is where the billings would commence.

They restrict job seekers from interacting with themselves or receiving phone calls or chatting while they are within the confine of the recruitment venue. They always install a guard or an accomplice to ensure that it doesn’t happen.

In another of such locations visited by THISDAY at 7/8 off Airport Road by Ajao Estate, their own style can never be easily fished out. They are that professional. This is because they don’t extort unemployed youths in cash but in labour.

They made use of the event space of a popular hotel along the express road, with a banner of several vacant positions spread permanently on a stand at the entrance of the hotel. On arrival, job seekers were delayed with the excuse that their chairman was on his way to address them. Based on the location, unsuspecting job seekers are made to think that it was the hotel directly employing.

Within the almost two hours of waiting, different staff of the organisation came in to announce that those that had earlier been interviewed for any of the positions should stand up and leave. About five six people (of cause, as planted by them) stood up and excused the remaining crowd. This made all believe there was really an interview.

Finally, the said chairman arrived with his entourage flocking him, and he started flaying some of the job seekers that were not properly dressed on corporate wears; even though most of them were just ushered in to join the supposed interview when they came in that same day to submit their application.

Afterwards, he regaled the room with how connected he is and a friend to governor of thirteen states in Nigeria. Thereafter, he told the job seekers that he doesn’t believe in interviews being the tool of getting the best of staff but training. He said he would rather engage them in training for three weeks, where they would learn how to dress and properly, use cutlery, learn good eating and drinking habits, as they would be stationed to work in that branch of the hotel for three weeks. For the training, he said he would provide them with a shoe, white shirt, black tie and pant trousers, which is the uniform of the downstream staff of the hotel. He added that he would not be paying them for the time of training but would provide a token of N3000 for their transportation, which would be paid in installment of N1,000 per week. He likewise affirmed that, only those deemed fit for the job after the three weeks of training

Some unsuspecting youths at a fake interview venue

A typical email from fake recruiters

would be officially employed and be earning a pay of N30,000 monthly.

He proceeded to bring out an agreement form for the job seekers to fill and sign and a form to be filled by two of their guarantors. He told those not interested to leave immediately and those interested to pick up the form. Again, some of the planted moles among the job seekers left immediately, while others stood to request for the form, thus encouraging the unsuspecting ones to follow suit.

Again, checks revealed that none of the real job seekers were eventually employed but about three moles after the three weeks training. After the three weeks, the rest were all laid off, and replaced by fresh unsuspecting job seekers. And the circle goes thus till date.

Another set of scammers are those group of persons who extort money from job seekers, promising to secure employment for them. This is very rampant when government agencies are recruiting. First, the victims are scammed into believing there is existing vacancy within the agencies, whereas no such vacancy exists.

If the company has no website with descriptions of what they are doing, then it is probably not legit. Sometimes these scammers take advantage of the frustrations of job seekers by offering unbelievable monetary packages. That's when youths should be careful

Some youths jostling for a spot at a fake interview venue

The second phase of the scam is the documentation process that seemingly looks real.

The scam recruiters go as far as creating a story of how they can influence the process of getting the candidates into the service, riding on the influence of a certain retired military officer or influential person. These extortionists are either insiders (employees of the recruiting organisation) or outsiders who have or claim connection to the top echelon of the organisation.

Occasionally, they deliver on their promises, but most times they fail and also hardly refund the monies collected; leaving the applicants disappointed and frustrated.

For jobs in federal bodies, a job seeker may be required to part with as much as N300,000. In successful cases, the victims do not complain about the high fee paid. In their reckoning, “the job is worth the price”.

Another group will send their victims an email with exceptional offers and packages, and of course with requirements, experience and certifications which they are sure the job seeker doesn’t possess. Their target victim will now be required to pay for such certifications before they receive an employment letter. Most job seekers that prefer federal jobs due to the stability and security fall prey to this kind of scams. Although government agencies would usually release statements denouncing such fake or non-existent recruitment exercises, the scam has thrived over a period of time simply because, the government has failed in apprehending the perpetrators. To lure more unsuspecting victims into the web of deceit, the perpetrators of this scam go as far as reeling out specific vacancies that require being filled.

Another deceptive tool used is fake success stories and referrals from those who claim to have received help from inside sources within such fake firms Another trend is sending bulk SMS or emails out to random people about an interview they have been selected for when they didn’t even apply for one. This trend often results in victims meeting themselves in networking companies and marketing and distributorship firms who feel they can’t get the attention of the public except through scam schemes.

Some of these scam jobs and text messages have led to kidnapping of job seekers to request for ransom.

Solution Though, there is a rise in the rate of job scams in the country, there are also genuine companies and adverts everywhere. These scammers just take advantage of the gullibility of the affected public to initiate a fast one on them.

For many experts, the situation is in black and white. The rise of scam employment opportunities cannot be extricated from the high rate of youth unemployment in the country. Worse still, it seems to work both ways. Unemployment can be attributed as a factor pushing youths into seeking dishonest living by fleecing their 'desperate' job-seeking compatriots of their hard earned money. On the flip side, many fall for scam employment opportunities because the genuine available jobs are few and far between and hard to come by. The National Bureau of Statistics pegs the rate of youth unemployment at 58.1 per cent, so youths within the 15-34 age bracket fall under this category of unemployed.

With such a massive percentage of unemployed youths, it is easy to see why scam employment has festered even further. This being so, is there a middle ground? Olalekan Olude believes there might be.

Olude, who is the co-founder of popular HR Company, Jobberman.com, says, “The rising rate of job scams in Nigeria is greatly due to the high level of unemployment in the country. This can also be attributed to the high level of competition for available jobs, and desperation of getting well-paying jobs outside of the due process of applying for a job and securing an interview. This creates an avenue for opportunists to take advantage of unsuspecting job seekers with the aim of generating revenue.

“The way to put a stop to it is simply for government to try and invest in the youths.

They need to create jobs, and also ensure that they monitor through the Ministry of Labour and Productivity, and all of these employment agencies so that there can be a bit of sanity, especially in the formal sector.”

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FOREIGN/DIPLOMATIC AFFAIRS

Editor: VINCENT OBIA vincent.obia@thisdaylive.com 0805 468 1757

Four Thai Boys Rescued from Cave Hails Thailand cave rescue As the rescue of the Thai youth football team and their coach from a cave in northern Thailand got under way, four boys were rescued on Sunday and sent for medical treatment at a hospital in Chiang Rai, about 60km away from the cave complex.

The team’s coach and eight other boys remained trapped in the flooded cave, where they have been trapped for two weeks. Officials said the rescue operation was scheduled to resume about 7am local time (12am GMT), depending on the weather. It takes about 11 hours to get to and from the chamber where the remaining eight boys are trapped, along with their coach.

The path, which was used to rescue the four boys on Sunday, is a difficult one to navigate. To exit the cave, the remaining boys,

likely malnutritioned, are expected to dive a narrow passage, which is 0.6m deep.

Meanwhile, President Muhammadu Buhari commended the Government of Thailand and international volunteers in the current efforts to rescue 12 children and their coach trapped in a cave for more than two weeks, with imminent risks of starvation and death.

Reacting to ongoing rescue efforts which are already yielding positive results, President Buhari said Thailand has inspired other developing nations that, despite limited resources, a people can achieve success through their efforts towards emergency response. ‘’In a globalised world, the bond of our common humanity is getting stronger day by day.

‘’Although Thailand is located thousands of miles away from us, we in Nigeria share the pains and difficulties of these trapped teenagers who face imminent danger to their lives.

“The way the international community responded with empathy and enthusiasm, is evidence that our common humanity is greater than our differences.

“When we perceive the victims as our own children, we are bound to identify with the trapped kids and be moved to action,” the President said.

President Buhari is greatly inspired by the response of the Thai government to the crisis; and the dedication and enthusiasm of the rescue teams.

Ethiopia, Eritrea to Reopen Embassies The leaders of Ethiopia and Eritrea announced on Sunday they would re-open their embassies after a spectacularly swift rapprochement between the erstwhile bitter regional enemies at their first summit since a war two decades ago.

Ethiopia’s new reformist Prime Minister Abiy Ahmed and Eritrea’s long-time leader Isaias Afwerki

personally symbolised the breakthrough, when they embraced warmly and swayed side by side to live traditional music at a lavish state dinner in the Eritrean capital, Asmara. They opened phone lines between the two countries that had been cut for two decades, and land-locked Ethiopia said it

would be given access to the sea at an Eritrean port.

The talks were the product of a surprising peace initiative by Ahmed, which could transform the Horn of Africa region and end decades of animosity during which both countries remained isolated and dominated by their security forces.

British Nerve AgentVictim Dies The Metropolitan Police in the United Kingdom launched a murder investigation after a 44-year-old woman died on Sunday following exposure to a nerve agent, Novichok, which was linked to the poisoning of a former Russian operative.

The Met Police said in a

statement that the victim, Dawn Sturgess, died after exposure to the nerve agent, according to CNBC. “Her family has been informed and is receiving support from specially trained family liaison officers,” the statement read.

“Apost-mortem will be scheduled to take place in due course.”

Amesbury had been shaken by the discovery just over a week ago of Novichok, which left Sturgess and a man gravely ill and stoked suspicions of Russia’s involvement. Russia denied any involvement in the alleged poisoning. The man, an unidentified 45-year-old, remained hospitalized, authorities said.

Brexit Secretary, David Davis Resigns Brexit Secretary, David Davis, has resigned from the UK government.

His resignation comes days after Theresa May secured the cabinet’s backing for her Brexit plan despite claims from Brexiteers that it was too “soft”.

Davis was appointed Brexit secretary in 2016 and was responsible for negotiating the UK withdrawal from the EU. A Brexiteer hailed his resignation as a “principled and brave decision”.

Conservative MP, Peter Bone said Davis had “done the right thing”, adding: “The PM’s proposals for a Brexit in name only are not acceptable.”

Labour Party Chairman, Ian Lavery said: “This is absolute chaos and Theresa May has no authority left.”

The resignation comes as Mrs May prepares to face the House of Commons and then Tory

MPs and peers on Monday to discuss her Brexit plan.

Mrs May is expected to tell MPs that the strategy agreed on by the cabinet at Chequers on Friday is the “right Brexit” for Britain.

Mr Davis is yet to comment on his resignation, but Daily Express correspondent Sarah O’Grady, the wife of Davis’ special adviser Stewart Jackson, said “DD decided he couldn’t sell out his own country.”

Brazil Judges Issue Contradictory Orders on Lula’s Release Brazilian judges yesterday played chess in granting freedom to imprisoned former President Luiz Inácio Lula da Silva.

This was the impression after an appeals court Judge Rogerio Favreto for the third time on Sunday ordered Lula be freed from prison.

But it was unclear whether authorities would effectively carry out the ruling to release the popular former president as Favreto’s decision may spark a conflict of jurisdiction.

Earlier in the day, Brazilian Judge Sergio Moro stymied the judge’s effort to release the jailed former president, highlighting the legal battle around the country’s most popular politician ahead of

this year’s presidential election.

Moro, who sent Lula to prison in April for a bribery conviction, said the appeals court judge lacked authority to issue an order freeing him for campaigning in the run-up to the October vote.

Polls suggest the leftist icon could win a third term, but Brazilian electoral law forbids politicians from running for office within eight years of being found guilty of a crime.

Still, an electoral court may not issue a final ruling barring Lula from the presidential race until next month.

Sunday’s legal back-and-forth may encourage supporters holding out hope that he can still return to unite Brazil’s left.

Appeals court judge Favreto,

who served in the Justice Ministry under Lula and was appointed by his handpicked successor, said in his original order that for now the former president shouldhavethe same conditions to campaign as other candidates.

However, Moro said the chief justice on the appeals court instructed him not to free Lula immediately.Soon thereafter, anotherappellatejudgeresponsibleforthe formerpresident’scaseissuedadecision that he should not be released.

The former president is serving time for taking bribes from an engineering firm in return for help landing contracts with a state firm. He faces another six trials for other corruption allegations. Lula has denied all wrongdoing.

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NEWS

Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Presidency Awaits Briefing on Adeosun’s Alleged Certificate Forgery NYSC to issue official statement today Tobi Soniyi in Lagos and Wale Ajimotokan in Abuja The presidency said yesterday that it was yet to be briefed about alleged forgery of National Youth Service Corp (NYSC) discharge certificate by the Minister of Finance, Mrs. Kemi Adeosun.

An online news portal, Premium Times, had in a report at the weekend, alleged that the minister failed to undertake the mandatory one year national service, having graduated at 22, and fraudulently obtained an exemption certificate at 42, in violation of the NYSC establishment act, Decree No 24 of 1973 as amended.

Despite the weight of the allegation, the minister has kept quiet, failing to answer calls to her phones or return text messages from THISDAY. The Minister of Information and Culture,Alhaji Lai Mohammed could not also be reached on the matter.

However, a reliable source at the NYSC Headquarters in Abuja told THISDAY that the service would issue a statement on the allegation today, refusing though to state whether the exemption certificate

was actually issued by it or not.

NYSC spokesperson, Mrs. Adenike Adeyemi, also confirmed that the corps would issue an official statement but declined to give the exact date the statement would be made.

But the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, told THISDAY last night that he was yet to be briefed on the forgery allegation.

“Well, I have not been briefed on this. I haven’t heard of it being spoken. I am completely unaware of anything,” he said in response to THISDAY’s query on what President Muhammadu Buhari was doing about the allegation that one of his ministers committed the crime of forgery.

Expectedly, the opposition Peoples Democratic Party (PDP), had at the weekend called on Buhari to sack and prosecute Adeosun on the strength of the allegation by the online medium.

The NYSC is compulsory for all Nigerians who graduate from universities or equivalent institutions at less than 30 years of age.

In addition to being a requirement for government and private sector

Nigeria Kicks as Another Citizen is Killed in South Africa A Nigerian, Ozumba TochukwuLawrence was reportedly killed by a gunman on July 6, in South Africa.

The Nigeria Mission in South Africa has condemned the killing.

The Consul-General of Nigeria in South Africa made this known in a statement by the Vice Consul Information and Culture, David Abraham, yesterday in Abuja.

Abraham said the Consul General received with pain the unfortunate news of the assassination of TochukwuLawrence by a yet-to-be identified assailant.

He said the ugly incident was said to have occurred at 10 Koppe, Middleburg, Mpumalanga, South Africa, on July 6.

“An eyewitness account has it that an unknown man made a way into the compound of Ozumba Tochukwu-Lawrence and requested to see him.

“On being told about his guest, he came out to meet him, and the man opened fire on him and shot him six times, resulting in his death before he could reach the hospital. “The reason behind the sad incident is yet to be established, but this is very unfortunate and condemnable,” he said.

He said the consulate commiserated with the deceased’s family and indeed, the entire Nigerian community in South Africa.

The Consulate, he said, was also calling on the South African relevant authorities to unravel the mystery behind this dastardly act.

“Efforts should be made by the police and other relevant agencies to apprehend the assailant and bring him to justice.

“We also call on our nationals to cooperate with the police and judicial officers in their investigation and prosecution.

“The Nigerian Consulate will continue to advance the welfare and security of Nigerians in South Africa.

“We also call on our citizens to remain calm and eschew violence as we seek to obtain justice for the deceased and members of his family,” he said.

In her reaction, the Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, expressed worry over the killing.

Dabiri-Erewa in short message sent to the News Agency of Nigeria (NAN) yesterday in Abuja described the recent killing as unfortunate.

“All enquiries should be directed to the Minister of Foreign Affairs, Geoffrey Onyeama who has vowed to take decisive action with the new Foreign Affairs Minister in South Africa,” she said Dabiri-Erewa expressed disappointment over an early warning signal put in place by both ministries, which she said, had still not been implemented.

She stated that no fewer than 117 Nigerians were extra-judicially killed in South Africa between 2016 and 2018 for one flimsy reason or the other.

She said that many more had followed since then.

The News Agency of Nigeria (NAN) reports that killing of Nigerians in South Africa had been on the increase in recent times.

Before the latest one, there was the assassination of ThankGod Okoro, who was reportedly shot dead in Hamburg, Florida West Rand, Johannesburg, on April 9, 2018, by the South African Police Flying Squad.

There was also the killing of Clement Nwaogu in April, a father of two who was burnt to death by his assailant.

jobs in Nigeria, the enabling law prescribes punishment for anyone who absconds from the scheme or forges its certificates.

Eligible Nigerians who skipped the service are liable to be sentenced to 12 months imprisonment and/ or N2,000 fine, according to Section 13 of the NYSC law.

Section 13 (3) of the law also

prescribes three-year jail term or option of N5,000 fine for anyone who contravenes provision of the law as Adeosun has done.

Subsection 4 of the same section also criminalises giving false information or illegally obtaining the agency’s certificate. It provides for up to three-year jail term for such offenders.

According to Premium Times, Adeosun’s official credentials showed that the minister “parades a purported NYSC exemption certificate, which was issued in September 2009, granting her exemption from the mandatory service on account of age.”

Adeosun graduated from the Polytechnic of East London in 1989, at 22. According to her curriculum

vitae, the finance minister was born in March 1967.

The institution changed name to University of East London in 1992.

The minister has her certificate issued in the new name.

Having graduated at 22, it was obligatory for Adeosun to participate in the one-year national service, for her to qualify for any job in Nigeria.

ROAD INAUGURATION

Delta State PDP Chairman, Mr. Kingsley Esiso; Delta State Governor, Senator Ifeanyi Okowa; his Gombe State counterpart, Ibrahim Dankwambo and Obi of Abavo Kingdom, Obi Uche Irenuma, during the inauguration of Abavo Circular road, Abavo, Delta State...recently

BPP Unveils e-Government Procurement System Ndubuisi Francis in Abuja The Bureau of Public Procurement (BPP) has commenced the process of implementing a unified e-Government Procurement (e-GP) system that will integrate with existing systems to provide a centrally and unitary collaborative government procurement platform for all public procurement at the federal level.

The implementation of the e-GP system will follow a phased approach to cover the entire public

procurement lifecycle in line with the provisions of the Public Procurement Act, 2007, related regulations and government Information Communication Technology (ICT) policies, and other standards.

A top presidency official familiar with the system told journalists weekend that based on the phased implementation approach, the BPP had developed a number of innovative IT solutions to improve public procurement practice and enhance its oversight functions.

According to him, the IT solutions, some of which were deployed since 2010 and have undergone series of upgrades include the National Database of Contractors, Consultants and Service Providers (ND-CCSP) Nigeria Open Contracting Portal (NOCOPO).

The National Database was created in line with the provisions of Section 5(h) of the Public Procurement Act (PPA 2007), which mandates the Bureau to maintain a national database of

particulars and classification and categorization of federal contractors and service providers.

The system serves as the first module of the e-GP sytem.

The system helps in verifying the credibility and competence of contractors, consultants and service providers (CCSPs) doing or intending to do business with the Federal Government of Nigeria.

It also helps in categorising and classifying consultants, contractors and service providers based on their capability.

N’Assembly Received Only 12 Bills from Executive in ThreeYears Deji Elumoye in Abuja The 8th National Assembly since its inauguration on June 9, 2015 has only received 12 Bills from the Executive arm of government.

Findings carried out by Thisday at the National Assembly reveal that the Bills apart from the statutory budget-related ones were sent to both Senate and House of Representatives at the rate of four Bills per year.

On its part, the legislature during the period under review had passed 213 Bills and also cleared 138 petitions from members of the public.

Available records show that of all the 12 Bills presented by the Executive in three years, only two have inkling to the anti-corruption mantra that brought the Buhari- led administration into office on May

29, 2015.

The two anti- corruption Bills are the Mutual Assistance in Criminal Matters Bill, 2016 which had since been passed by the National Assembly and Money Laundering (Prevention and Prohibition) Act 2011 (Repeal and Re-enactment) Bill, 2016 which was reportedly withdrawn by the Executive due to purported disagreement between the Office of theAttorney-General of the Federation and Minister of Justice, Abubakar Malami, and the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.

The remaining 10 Bills sponsored by the Executive in both chambers of the Federal Legislature in the last 37 months include: Communications Service Tax Bill 2015; Money Laundering (Prevention and Prohibition) Act 2011 (Repeal and Reenactment) Bill, 2016; Mutual

Assistance in Criminal Matters Bill, 2016; Chartered Institute of Directors of Nigeria (Est. etc,) Bill, 2017; National Lottery Act (Amendment) Bill, 2017 and the National Water Resources Bill, 2017.

Others are the National Centre for Disease Control and Prevention (Est. etc,) Bill, 2017; Chartered Institute of Forensic and Investigative Auditors in Nigeria (Est. etc,) Bill, 2017; Federal Institute of Industrial Research Bill, 2017; Raw Materials Research and Development Council (Repeal and Reenactment) Bill, 2018; Nigeria Natural Medicine Development Agency (Est. etc,) Bill, 2018 and the Minerals and Mining Bills,2018.

The Senate has, however, passed four other bills sponsored as individual Bills by Senators in support of the anti-corruption agenda of the present administration.

The Bills are Witness Protection Bill, the Whistleblower Protection Bill, Federal Audit Service Commission Bill and the Nigerian Financial Intelligence Unit Bill (NFIU).On the other executive bills forwarded to the National Assembly, the report of the Chartered Institute of Directors of Nigeria (Est. etc,) Bill, 2017 has since been laid and awaiting final consideration and passage by the Senate, while the rest are at different stages of legislative scrutiny by the relevant committees.

On its part, the National Water Resources Bill, 2017 had to be stood down after its consideration at the second reading stage in June was mired in controversy following the antagonism by many Senators against it. The debate on the bill at the Senate plenary showed obvious division along geo-political lines among the Senators.

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South-east Governors Vow Not to Donate Land for Ranching Insist on restructuring

Christopher Isiguzo in Enugu Governors of the South-east zone yesterday declared that the zone would not donate any land for the purpose of cattle ranching, and decried the incessant clashes between farmers and herdsmen in the zone.

The governors also reiterated their earlier stand that restructuring remained the only way forward for Nigeria.

Rising from a four-hour closed door meeting at the Government House in Enugu, the Enugu State capital, the governors stated that they had noted the increased challenges in the movement of herdsmen from one state and region to another with the attendant clashes with farmers.

In a nine-point communique read to journalists at the end of the meeting by the Chairman of the Governors’ Forum and Governor of Ebonyi State, Chief Dave Umahi, the governors expressed dismay over the huge sum of money they spend in paying farmers whose crops are destroyed by herdsmen.

The governors called for an emergency meeting in the zone with heads of the federal security agencies, farmers and herdsmen in order to stop the movement and

prevent the clashes.

“Let’s make it clear that no land in the South-east has been donated for ranching and the federal government has not asked us to do so either. We have not approved any land for ranching and we will never do so because we don’t even have enough land in our zone for our use, let alone for ranching,” Umahi said.

While condemning the recent gruesome murder of innocent citizens in Plateau State, the governors joined other zones in demanding justice for Plateau people and also commiserated with the governor of the state over the unfortunate development.

Umahi said the meeting which also had in attendance some other major stakeholders, including the President General of Ohaneze Ndigbo, Chief Nnia Nwodo; chairmen of traditional rulers from the five states of the zone as well as former Minister of Power, Prof.

Bart Nnaji, among others, received presentations from the apex Igbo socio-cultural organisation on the vexed issue of restructuring.

While reiterating its earlier stand that restructuring remains the only way forward for Nigeria, the governors resolved to take a studied look at the template of restructuring and will make its

20 Years After, Family, Associates Honour MKO Abiola The eldest daughter of late Moshood Abiola, Lola Abiola-Edewor, has lauded President Muhammadu Buhari’s declaration of June 12 as the new Democracy Day, saying it is justice to Abiola. Abiola-Edewor gave the commendation at the Fidau prayer commemorating 20 years of the death of the presumed winner of June 12, 1993, presidential election who died in detention on July 7,1998.

The News Agency of Nigeria (NAN) reported that the prayer was organised by the June 12 movement in conjunction with the Abiola family at the Ikeja residence of the deceased.

Abiola-Edewor, a former member of the House of Representatives, said successive governments failed to accord the late business mogul and politician honour due to him by recognising what June 12 stood for in Nigeria’s political history.

She commended Buhari for his courage to give due recognition to June 12, saying the declaration would gladden her late father in his grave.

“For me and members of my family, the declaration of June 12 is justice for my late father.

“My father was cheated and maltreated and even paid the supreme price just because of the mandate given to him by Nigerians on June 12,1993.

“Despite all, previous governments had refused to recognise his sacrifice for democracy with non-recognition.

“We are happy God has finally used this government to honour my father not only with the declaration of June 12 as Democracy Day but also the conferment of a post-humous national award on him. “For us,this justice done is next to waking our father from his grave. We are so grateful; it is now that our father is really resting in peace,” she said.

She urged leaders to embrace Abiola’s most salient ideology of helping the less privileged.

Lola advised the privileged to always remember their neighbours and impact on their lives,saying that was whatAbiola stood for throughout his life.

She thanked the June 12 movement and others who had stood with the family since the demise of their patriarch, saying the support had encouraged the family to move on.

NNPC Depot Minna Gutted by Fire Laleye Dipo in Minna The depot of the Nigerian National Petroleum Corporation (NNPC) in Pago Minna, Niger State, was yesterday gutted by fire.

Our correspondent gathered that when the fire started from the depot at Pago, petrol flowed into the surrounding gutters, which attracted some youths, who started scooping fuel from the leaking pipes, which later caught fire “These youths and black marketers started scooping the fuel before the whole place went up in flames” a

security oficial told our correspondent.

It has been confirmed that no life was lost in the pipeline explosion.

The security official said tragedy was averted by the combined efforts of NNPC security men and some policemen around the area.

According to the security men, the flame and thick smoke enveloped the whole area causing pandemonium and confusion.

However, the security men, it was learnt, chased away all those around, whilemanyfamiliesquicklyevacuated their relations and property.

final stand clear by its next meeting.

The governors also resolved the crisis in the Traditional Rulers’ Council as it approved that the leadership would henceforth operate on a two-year rotational principle.

Based on the arrangement, the forum declared that the incumbent Chairman, Eze Eberechi Dick from Abia State will hand over to the Obi of Onitsha, Igwe Nnaemeka Achebe,

with effect from August 1, 2018.

They also approved a partnership between the governors and E-Health Africa for health interventions and establishment of world-class health facilities in all the states of the zone, and accordingly, set up a health consultative committee comprising the Commissioners for Health in the various states of the zone, health

experts and development partners to pursue health interventions in the area.

The governors also approved to support the setting up of an Industrial and Infrastructural Development Bank to fast track capital flow for rapid development of the region as a private initiative.

The forum also offered to take responsibility for safeguarding the

NNPC pipelines if they are engaged to do so in view of the briefing it received that repair works were ongoing at the Emene depot.

Apart of Governor Umahi and Enugu State Governor, Ifeanyi Ugwuanyi, Deputy Governors of Abia, Ude Oko-Chukwu and Anambra, Nkem Okeke, stood in for their states. Governor Rochas Okorocha was absent.

HAPPY WEDLOCK

R-L: Former Governor of Ondo State, Dr. Olusegun Mimiko; Bride Father, Reuben Famuyibo; Oni of Ife, Oba Adeyeye Enitan Ogunwusi and Bride’s Mother, Adesinmi Famuyibo, during a wedding ceremony between Ojuolape Famuyibo and Adebayo Ibrahim Razak, at The Cathedral of St. James the Great, Oke-Bola, Ibadan, Oyo State...recently

Be on Red Alert, IG Orders CPs, AIGs The Inspector General of Police (IG), Ibrahim Idris, has directed Commissioners of Police (CPs) in state commands and their supervising Assistant Inspectors General of Police (AIGs) to be on red alert.

Force spokesman, Jimoh Moshood, who disclosed this in a statement in Abuja at the weekend, said the directive was to enable all police formations

prevent crimes and criminality in the country.

“This directive from the IG is consequent on the recent attack and killing of seven policemen at Galadimawa Roundabout in Abuja on July 2 by armed robbers and bandits,” he said.

Moshood said the AIGs and CPs were under strict instruction to re-jig their crime prevention and control strategies and carry

out massive deployment of police personnel and logistics.

He said they are also to pay attention to places of worship, schools, markets, venues of recreation and other public spaces to forestall any untoward incident.

“The ongoing raids of criminal hideouts and black spots will be sustained throughout the country. Show of force exercise and confidence-building patrols

will also be embarked upon,” he said.

The spokesman implored the public to cooperate with the policemen deployed in their localities.

He said the renewed commitment of the force to sustain the tempo of the fight against violent crimes and other criminality in the country remained unequivocal and unwavering.

SEC: MTN Has Not Applied for Regulatory Review of its Planned IPO Chineme Okafor in Abuja The Securities and Exchange Commission (SEC) yesterday disclosed that it was unaware that telecommunications giant, MTN Nigeria Limited, has filed an application to it to review its plan to undertake an Initial Public Offering (IPO) in Nigeria’s capital market.

The SEC in a statement made available to THISDAY in Abuja explained that neither MTN nor any of its advisers or representatives have filed any application with it regarding the IPO. “The commission wishes to categorically state that the information contained in the said publication is false, misleading and without merit.

“Additionally, the commission would like to state that MTN, to the best of the commission’s knowledge, is a private company limited by shares, and as at the date of this circular, neither MTN nor any of its advisers or representatives have filed any application with the SEC regarding the said IPO,” the statement said.

It added: “Given that there is no

application from MTN before the commission, there could not have been a request by MTN or any of its representatives or advisers requiring any form of regulatory review.”

The SEC said it would welcome filings aimed at deepening and broadening Nigeria’s capital market, and was ready to provide the necessary regulatory support to ensure such happened.

Stop Persecuting N’Assembly Leadership, Senator Sani Tells Buhari Deji Elumoye in Abuja A member of the National Assembly, Senator Shehu Sani, has advised the presidency to stop the persistent use of state apparatus to persecute the leadership of the National Assembly.

In a Facebook post yesterday titled ‘Immediate Recipe for Peace Between The Presidency and The Parliament’, Sani also advised the

legislature to accord President Muhammadu Buhari the due respect he deserves.

Sani representing Kaduna Central in the Senate said the presidency must put a stop to the use of state apparatus to hunt, frame, intimidate and persecute the federal legislators.

He further advised the Executive arm of government to end the systematic demonisation

of the leadership and members of the National Assembly.

His words “The presidency must end all political trials and compel all presidential appointees to honour and respect summons and accord the Senate president and Speaker of the House of Representatives their due respect.”

The presidency, he further said, should end sponsorship of synthetic protests at the National

Assembly gate.

Sani also advised his colleagues to, apart from according President Buhari due respect at all times and confirm pending presidential nominees.

While urging the legislature to speed up passage of all Executive Bills before it, the senator advised the National Assembly to forget the thought and proposal for the impeachment of President Buhari.

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Justice, Dialogue, Tolerance Panacea for Peace, Says Ekweremadu Deji Elumoye in Abuja The Deputy Senate President, Ike Ekweremadu, has advocated for justice, dialogue, and tolerance as the key instruments for building

peace in the society.

Ekweremadu observed that mankind was “besieged by a groundswell of intolerance, injustice, racial discrimination, and ethnic hatred, leading to violence, conflicts,

Ex-Ondo Deputy Governor’s Daughter Found Dead in Boyfriend’s Room James Sowole in Akure The Ondo State Police Command yesterday confirmed that a final year student of Adekunle Ajasin University, Akungba-Akoko, Miss Adenike Khadijat Oluboyo, was found dead in a house at Okearo area of Akure, the Ondo State capital.

The deceased was a daughter of the immediate past Deputy Governor of Ondo State, Mr. Lasisi Oluboyo.

Though, the police said some arrests had been made on the incident, the Police Public Relations Officer (PPRO) of the Ondo State Command, Mr. Femi Joseph, did not give further details of the incident.

However, it was gathered that the deceased was reportedly found dead under the bed in the home of her boyfriend in Akure.

A source said Khadijat who had left school for the past six days, was found under the bed

of her boyfriend, under suspicious circumstances.

A family source said a herbalist that prepared the money ritual for her boyfriend who is currently at large, instructed him to keep the corpse for seven days but luck ran out of the Abuja-based boyfriend when his younger brother entered the room and met the decomposing body of the late Khadijat.

The boyfriend’s brother was said to have reported the matter to the police.

The PPRO said the command’s officers discovered the dead body of the undergraduate at a house at Oke-Aro area of Akure, following a report.

He disclosed that some arrests had been made in connection with the death of the former deputy governor’s daughter.

He said the Commissioner of Police, Mr. Gbenga Adeyanju, would brief journalists on the incident very soon.

extremism, terrorism, insurgency, and all forms of restiveness”.

Speaking at the first procedural session of the International Parliament for Tolerance and Peace (IPTP), which was launched in Valetta, Malta, at the weekend, the lawmaker, urged governments to always toe the path of dialogue, rather than force, in resolving issues.

He recalled that the use of force to quell militancy in Nigeria’s Niger Delta region failed until dialogue and amnesty were applied, while the controversial

death of the spiritual leader of the Boko Haram sect in 2009, Mohammed Yusuf, led to the ascendency of a highly radical leadership, which effectively transformed the sect into a full-blown terrorist organisation.

“So, dialogue, tolerance, and soft power are not only capable of averting conflicts, they win the peace, and win people over.

Even when nations and societies resort to violence and military force, they ultimately end up around the table to agree on peace terms or sign the instruments of

surrender. Besides, winning the war is not the same as winning the peace,” he said.

“Importantly, whatever we do, we must bear in mind that justice is a bedrock and natural enabler of peace. Justice is so central to peace, security, and prosperity of the human society that the Oath of Office contained in most constitutions seek to ensure that leaders do justice to all manner of people,” he said.

“Societies run into storms when leaders observe this

all-important oath in the breach and elevate bigotry and inequity to state policy.

They forget that no man, who feels unjustly treated will be interested in peace. We must do justice, giving every segment of the society a sense of belonging”, he added.

Ekweremadu lauded the setting up of the IPTP to help mobilise and direct global resources and energies towards strengthening the human virtues, especially tolerance and justice that promote peace.

Group Urges Obaseki to Link Opkella with Agenebode Adibe Emenyonu in Benin City A socio-cultural group, known as Usagbe Club of Nigeria, has appealed to Governor Godwin Obaseki of Edo State to actualise his promise to construct a link road from Okpella to Agenebode, the two major towns of Etsako East Local Area (LGA) of the state.

Besides, the club also urged the governor to actualise his decision to construct the already advertised road project from Ivioghe-Iviebua-Ivianokpodi-Iv iukhuah-Iviegbepui-IviukweEkwosor, saying the road would help to network Weppa

and Wanno communities and provide comfort for the people with attendant economic benefits.

The President of the club, Mr. Tony Akiotu, made the appeal at the weekend in Benin City, during the opening ceremony of the club’s 2018 retreat/ convention.

He explained that the construction of the road would lessen the plight of the people of Okpella, who travel first to Auchi before connecting Agenebode, their

local government headquarters.

The group however, commended Governor Obaseki for establishing the School of Aqua Culture and Marine Technology in Agenebode in fulfilment of his promise to upgrade the School of Agriculture in the community.

Speaking through his Senior Special Adviser on Political Matters, Mr. Yakubu Gowon, Governor Obaseki, commended members of the club for contributing to peace building and reconciliation

among communities.

In his lecture, the state Commissioner for Local Government and Community Affairs, Mr. Jimoh Ejegbai, noted that conflict was part of human existence.

Ijegbai in the lecture entitled: “Social Clubs and Government Partnership in Fostering Peace and Conflict Resolution,’ said social clubs and government must partner to ensure that at all times there is conflict resolution.”

Pro-Democracy Group Tells Saraki to Leave APC Coordinator of a pro-democracy group, Youth Arise for Good Governance (YAGG), Abdullahi Yahaya, has urged Senate President, Dr. Bukola Saraki, to leave the All Progressives Congress (APC) rather than remaining with a party that is already fractured and damaged.

In a statement signed yesterday, Yahaya said the first precautionary step for anyone who just survived a storm of such magnitude is to seek a fair haven, not staying in a house that has been severely damaged by storm.

“If such house collapses, he dies and would be regarded as a fool who survives a storm but got killed by an avoidable disaster.

“The APC’s house is already shattered by a self-inflicted storm; the house is falling like a house of cards, now is the best

time for Saraki and his allies to move forward to seek a fair haven.”

The group added that it was also more worrisome that all the travails were inflicted on Saraki by the political party he largely contributed to its formation and played a major role in its coming to power by leading the N-PDP bloc out of the Peoples Democratic Party (PDP) which sent the PDP out of power in 2015.

“I think the best decision for the Senate President, after all these, is to dust his shoes and move forward to a better place where he would be better respected and appreciated.”

“The whole war against Saraki was a big embarrasment to the image of the country and the government in power, the APC. When the party is supposed to be working together to rebuild and fulfil its campaign promises,

its leaders were dissipating energy on a needless fight against the Senate President, like market women.

“Now the result of the fight is evident with the economy crumbling daily, security situation getting worse, and Nigeria sitting in shame as a country with extreme poverty.”

“If Saraki, who dared all odds, left certainty in the PDP for uncertainty in the APC, toiled, campaigned, planned, and was a major contributor and vociferous advocate for the coming to power of the APC, could be treated like a street urchin by the APC, and he decides to remain in the APC, he needs no prophet to tell him he has gotten a very sure recipe for his political funeral, the magnitude of which will leave him and his followers in an irrecoverable shock”.

MultiChoice May Adjust DStv Subscription Pay-television service provider, MultiChoice Nigeria, it has been reliably learnt, is considering an upward adjustment of

subscription rates paid by subscribers on its on its DStv platform.

According to a usually

reliable source, the upward price adjustment, likely to be effected soon, will affect the five DStv bouquets.

Sources told our correspondent that DStv Premium subscribers may have to start paying N15, 800 instead of the current rate of N14, 700, a difference of N1, 100, while Compact Plus subscribers, may begin to pay N10, 650 instead of N9, 900 they currently pay.

The expected price regime, sources further disclosed, could see the rate for DStv Compact rise to N6, 800 from N6, 300.

Subscribers on the two lowest packages, Family and Access, who currently pay N3, 800 and N1, 900 respectively, may start paying N4, 000 and N2000. Both bouquets, we learned, may offer more live football in the coming season, as plans are afoot to make available two English Premier League matches weekly, instead of one they currently enjoy

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Saraki: Presidency Wasted Three Years Fighting Me Leads 12-man delegation to US parliament Wike condemns executive order on corruption APC now a spent vehicle, says Fayose Ernest Chinwo in Port Harcourt and Deji Elumoye in Abuja Senate President, Bukola Saraki, has said the presidency wasted three years fighting him through the Code of Conduct Tribunal (CCT), instead of concentrating on the development of the country.

Saraki is expected to deliver a speech on Nigeria and United States relations, and opportunities at the US parliament this week.

This is coming as Rivers State Governor, Nyesom Wike, has condemned the recent Executive

Order on Questionable Assets signed by President Muhammadu Buhari, saying it is unconstitutional.

Meanwhile, the Governor of Ekiti State, Ayodele Fayose, has also described the All Progressives Congress (APC) as a spent force, and urged the Senate president to dump the party for the Peoples Democratic Party (PDP).

The trio spoke last Saturday night in Port Harcourt, Rivers State, while inaugurating Obiri Ikwerre - Airport Road reconstructed by Wike’s administration.

Inaugurating the road, Saraki expressed regret that rather than

I’m Not a Backer of Killer Herdsmen , Fayemi Clarifies Victor Ogunje in Ado Ekiti The Kayode Fayemi Campaign Organisation has accused Governor Ayodele Fayose of insincerity in his claim that the candidate of the All Progressives Congress (APC), Dr. Kayode Fayemi, plans to create cattle colonies across the state if he wins the July 14 poll.

A statement by the Director, Media and Publicity of the Kayode Fayemi Campaign Organisation, Wole Olujobi, accused Fayose of mischievously exploiting herdsmen crisis across the country to paint Fayemi as a backer of herdsmen in their deadly attacks that had claimed hundreds of lives.

“Fayose has been deceiving Ekiti people and indeed all Nigerians that Fayemi is a promoter of herdsmen’s activities and that he is ready to create cattle colonies as

one of his principal programmes so that herdsmen can unleash terror on Ekiti people.

“By this misrepresentation, Ekiti people will be unwilling to vote for Fayemi whereas Fayose himself in his Executive Bill he signed into the law last year had approved the creation of cattle colonies across the state to solve herdsmen crisis. Unfortunately, Fayose is a dishonest politician who relies on lies and deceits to mischievously score political points.

“After Fayose signed the law establishing cattle colonies across the state, immediately he discovered that herdsmen crisis is a good point to nail Fayemi, he quickly lapsed into manipulating the alleged plan to create cattle colonies by the APC candidate to paint him black,” he said.

concentrate on the development of the country, the federal government wasted three years chasing perceived opponents.

He said his victory at the Supreme Court had exonerated him of any wrong-doing and proved his innocence.

The Senate president, however, urged Nigerians not to lose focus and hope, saying the country would eventually work.

“We are determined that there will be peace in this country. Those that don’t do the right thing will be sanctioned for not doing the right thing.

“We are determined that from every part of the country, this country belongs to us,” he said.

Saraki charged Nigerians to continue to fight for the development of the country.

He declared that Rivers State is safe for major investments as exemplified by the presence of the multi-billion dollar Eleme Indorama Fertilizer plant which he flagged off also on Saturday.

Speaking at the inauguration

ceremony, Wike stated that with the Senate president, Nigerians, irrespective of their political affiliation, would continue to fight the forces of darkness.

He called for the upholding of the Rule of Law across all tiers of government, saying is the only way to attain progress in the country.

Wike said: “Any government that does not respect the rule of law is the most corrupt government. This is because you cannot fight corruption without the rule of law.”

While berating the federal authorities for using the Economic and Financial Crimes Commission (EFCC) to illegally probe the finances of Rivers State despite a subsisting court judgment yet to be vacated by a higher court, Wike condemned the Executive Order on corruption, which he said, is unconstitutional.

Wike, who congratulated Saraki on his victory at the Supreme Court, said Rivers people would always stand by him, noting that the frame-up of the Senate president for armed robbery has negative consequences for the country.

In his speech, Fayose said PDP was behind Senate President in period of his travail.

He told the Senate President that APC is now a spent vehicle that can no longer take him to the expected destination, addingthatitwashightime the SenatePresidentreturnedtothePDP. Meanwhile, Sarakiwilldeliveraspeech onNigeriaandUnited Statesrelations,and opportunities attheUSparliamentthisweek.

This is part of Saraki’s itinerary in the US as he will on Monday lead a 12-man NationalAssembly delegation to Washington D.C, on a parliamentary visit. The visit is meant to strengthen parliamentaryanddiplomaticrelationship between Nigeria and the United States.

During the trip, Saraki is expected to deliver a speech on Nigeria and US Relations at the Council on Foriegn Relations,whilethedelegationisexpected tomeetwiththeUSState Department and USAID officials to discuss energy development, health, education, gender development initiatives and agriculture.

Other highlights of the trip include: meetings with select members of the US House Foreign Relations

Committee led by Senator Ed Royce, Ranking Member Eliot Engel; Africa, Global Health, Global Human Rights and International Organisations’ Subcommittee Chairman, Chris Smith, and Ranking Member, Karen Bass to discuss issues of mutual interest to Nigeria and the US. The delegationwillalsoholdmeetings with select members and staff of the Committee on HouseAdministration, including, Chairman Gregg Harper; Ranking Member, Bob Brady, and Chairman, Cedric Redmond, and members of the Congressional Black Caucus.

In addition, the team will hold talks with the US Congress leadership, including Senate Majority Leader, Mitch McConnell, President Pro Tempore, Senator Orrin Hatch, as well as with members of Foreign Relations, Committee on Africa and Global Health.

The delegation will also partake in a Policy Forum on ‘Doing Business and Investing in Nigeria’ hosted by the US Chamber of Commerce, where Saraki will make a presentation.

Dangote Promises Loyal Cement Customers Refinery Distributorship Licenses For their continued loyalty, Dangote Cement Plc, at the weekend, announced cash and kind rewards and also a priority distributorship license for the loyal cement customers as soon as Dangote’s refinery project comes on stream next year.

President of Dangote Group, Aliko Dangote, who made the pledge, profoundly thanked the loyal cement distributors for their faith in the company and also assured them of consistent reward, as a form of motivation for their patronage and loyalty to the brand.

“This event today is significant for two reasons; first, it is in furtherance of our culture and practice to reward excellent performance by our customers.

Secondly, it is also meant to build stronger and abiding value relationships. It is a night to say thank you for all your efforts in making Dangote Cement a household name in Nigeria and the number one preferred cement,” Dangote said.

He promised that: “As soon as our new projects come on stream, the opportunity for priority distributorship will be available to you as reward for your loyalty.

Thank you for your dedication and for being our support system” The Distributors’ award ceremony was in recognition of the Cement Distributors’ long standing commitment, devotion,

loyalty and valuable contribution to the distribution and sale of Dangote Cement in 2017.

Welcoming the distributors and other customers of the company to the award ceremony, Group Managing Director and Chief Executive of Dangote Cement, Joe Makoju said the company will forever be thankful to the distributors and all its customers for their loyalty and for making the public see the uniqueness of the Dangote cement brand.

Makoju said the distributors must have seen that they have notmade a mistake for deciding to do business with the company. He promised that the cement Company would continue to show appreciation to them and urged them to strive to sell more Dangote cement this year, with a promise that they would also be rewarded more saying; one good turn deserves another.

He said: “Our success story would not have been possible without you, our distributors, who work tirelessly to ensure that the product gets to our customers in every nooks and cranny of the country. We can never thank you enough! You have been an integral and vital part of our business over the years.”

According to him, any organisation that aspires to be ahead of the competition these days, must explore ways of not only knowing the expectations of its customers, but also how to exceed them.

ENDORSEMENT RALLY

Governor Ifeanyi Ugwuanyi of Enugu State (right), receiving ‘Ofo’, a symbol of authority, from the traditional rulers of Eha-Alumona, Nsukka Local Government Area, during a civic reception and endorsement rally by the community for his re-election in 2019...recently

Incompetence, Impunity Responsible for Insecurity in Nigeria, Says Falana Chinedu Eze Contrary to the allegation by the federal government that opposition politicians are responsible for the killings across the country, a human rights activist and Senior Advocate of Nigeria (SAN), Femi Falana, has attributed the prevailing insecurity in Nigeria to incompetence and impunity by the federal government.

Falana stated this when he addressed the Catholic community in Ekiti State at the weekend during a public lecture delivered in honour of Bishop Felix Ajakaiye.

He said the unimaginable incompetence displayed by the federal government in preventing the massacre of innocent people had endangered the corporate existence of the country.

He said: “President Buhari and his officials have not helped matters as their reactions have tended to give the impression that the federal government is

conniving with armed herders and bandits. For instance, during his last visit to the United States last year, President Buhari blamed the killings by herders on Gaddafi’s men who had infiltrated the country through our porous borders. The federal government has since turned round to blame disgruntled politicians for the killings.”

He said while the federal government accused the Benue State government of vicarious liability by enacting an anti-grazing law; the government did not explain the killings in states like Plateau, Kaduna, Nasarawa and Zamfara where there is no anti-grazing bill.

Falana said the statement credited to the Minister of Agriculture and Rural Development, Mr. Audu Ogbeh, that the federal government was going to acquire land to establish colonies for herders “immediately fuelled the rumour of a planned annexation of certain parts of the country by Fulani

people.”

He also accused the Defence Minister, General Dan Ali (rtd), of misleading the Nigerian people by saying that herders have been moving cattle from one part of the country to another from time immemorial.

Falana said contrary to the misleading claim of the Minister, there was no basis to move cattle all over the place because Sir Ahmadu Bello, Obafemi Awolowo had ranches at Mokwa (Niger State) and Akunu (Ondo State), respectively, while the Obudu (Cross River State) was built by a Scottish in 1951.

“Under the Gowon regime the Audu Bako regime in Kano State had the best ranches in the country. Owing to the destruction of the ranches, grazing routes were acquired for herders in many northern states. But the routes have since been seized by a handful of absentee farmers and other latifundists for alleged commercial farming. However, the

Kano State government has since revived the collapsed local ranches.

Hence, Governor Abdullahi Ganduje has offered to integrate all displaced herders in Benue and Taraba States in the ranches in Kano State,” Falana said.

He also noted that the Nigerian army has recently built a ranch in Giri in the federal capital territory and has undertaken to establish ranches in other army formations in the country.

In dismissing the allegation of persecution of Christians and ethnic cleansing in the country, Falana drew the attention of the leaders of the Christian Association of Nigeria (CAN) to the fact that “the dreaded Boko Haram sect has continued to kill thousands of Muslims in mosques and markets under President Buhari?” and asked, “was President Jonathan, a Christian, not similarly accused by some Muslim groups of allowing the Boko Haram sect to massacre Muslims and kidnap school children?”

T H I S D AY ˾ MONDAY JULY 9, 2018

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T H I S D AY ˾ MONDAY JULY 9, 2018

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MONDAYSPORTS WORLD CUP 2018â&#x20AC;Ś

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

JUNE 14 TO JULY 15

Pinnick to Commission France, Belgium Sâ&#x20AC;&#x2122;final Tomorrow Embattled President of the Nigeria Football Federation (NFF), Amaju Pinnick, has been confirmed as the Match Commissioner for the 2018 FIFA World Cup first semi final match between France and Belgium in Saint Petersburg tomorrow. The match will begin at 7pm Nigeria time.

The potentially explosive clash at the 67,000-capacity Zenit Arena will be the fifth match Pinnick would commission at the finals in Russia.

He remains the only Nigerian involved at such high level of operation at the FIFA World Cup. That match will bring together some of the best artists of the round leather game in the universe at the present, including Franceâ&#x20AC;&#x2122;s Paul Pogba, Antoine Griezmann and Kylian Mbappe, and Belgiumâ&#x20AC;&#x2122;s Romelo Lukaku, Kevin De Bruyne and Eden Hazard.

Last Friday in Nizhny Novgorod, Pinnick was also the Match Commissioner of the quarter final clash between France and Uruguay which the Blues won.

The NFF boss and Member of the Organising Committee of FIFA Competitions took charge of the group phase matches between Iran and Portugal in Saransk on 25th June (1-1) and between Panama and Tunisia (1-2) also in Saransk on 28th June, as well as the Round of 16 encounter between Sweden and Switzerland in Saint Petersburg on 3rd July (1-0).

The newly appointed First Vice President of CAF will also commission the 2018 FIFA World Cup third place match in Saint Petersburg on Saturday.

The second semi final will take place at the Luzhniki Stadium in Moscow (venue of the Final match) on Wednesday,

between Englandâ&#x20AC;&#x2122;s Three Lions and Luka Modric â&#x20AC;&#x201C;led Croatia.

A total of 152 goals have been scored in the 60 matches played so far at this yearâ&#x20AC;&#x2122;s World Cup, with four of the knockout round matches (Spain Vs Russia in the Round of 16); Croatia Vs Denmark in the Round of 16); Colombia Vs England in the Round of 16) and; Russia Vs Croatia in Saturdayâ&#x20AC;&#x2122;s last quarter final match, settled only after penalty shootouts.

Hierro Steps Down as Spain Coach Spanish football federation yesterday announced the resignation of Fernando Hierro, who stood in as coach when Julen Lopetegui was sacked on the eve of the World Cup. The former Real Madrid and Spain defender, who had little previous coaching experience lost on penalties to host nation Russia in the last 16 stage of the 2018 World Cup in Russia. â&#x20AC;&#x153;After travelling many kilometres together, the Spanish Football Federation and Fernando Hierro have put an end to their relationship,â&#x20AC;? the federation said on Sunday.

Hierro declined to return to his previous job as the federationâ&#x20AC;&#x2122;s technical director

and â&#x20AC;&#x153;will undertake new professional challengesâ&#x20AC;?, the federation wrote.

Spain was tipped among the favourites until Lopetegui caused chaos by announcing he would become Real Madridâ&#x20AC;&#x2122;s new coach after the World Cup. The federation, fearing a split between players from Barcelona and Real, sacked Lopetegui two days before Spainâ&#x20AC;&#x2122;s opening game against Portugal.

He described the sack as the saddest day of his life since the death of his mother.

Andres Iniesta, the former Barcelona great who scored the winning goal in the 2010 World Cup final, retired from the international team after the defeat to Russia.

FIFA President Invites Rescued Cave Boys to World Cup Final The 13 members of a Thai youth soccer team currently trapped deep inside a flooded cave have been invited by FIFA president Gianni Infantino to attend the World Cup final in Moscow next Sunday in Moscow.

However yesterday, four of the boys have been rescued according to CNN report from Thailand and are presently undergoing medical treatment and will reunite with their families as soon as possible. â&#x20AC;&#x153;On behalf of the international football community, I would like to join you in expressing my deepest sympathies and support to the families of the players and coach, as well as my solidarity with the people of Thailand at this time of great concern,â&#x20AC;?

Infantino wrote in a letter to the Thai Football Association. â&#x20AC;&#x153;If, as we all hope, they are reunited with their families in the coming days and their health allows them to travel,

FIFA would be delighted to invite them to attend the 2018 World Cup final in Moscow as our guests,â&#x20AC;? Infantino added.

The team (12 players between 11 and 16 years old, and their 25-year-old coach) has been trapped inside the cave for 13 days. They were found Monday by British divers after being trapped inside without food for nine days.

Crews have since worked around the clock to pump water out of the vast cave network in hopes of lowering the water level far enough for the boys to wade out. But with more heavy rains forecasted in the coming days, rescuers are attempting to teach the boys basic scuba techniques in the event they need to dive out.

The way out is a difficult dive with many narrow passages through muddy water.

A Thai navy SEAL died Friday when he ran out of oxygen in the cave.

Amaju Pinnick (right) on oďŹ&#x192;cial duty with FIFA President, Gianni Infantino at the ongoing World Cup ďŹ nals in Russia.

Glo Flies Four New Winners to Russia Total telecommunications solutions provider, Globacom, has flown another batch of winners in its GO RUSSIA promo to Russia.

The lucky subscribers, four in number, departed for Moscow on Saturday evening via an Emirates Airline flight from the Murtala Muhammed Airport, Lagos.

They are 40-year-old Chartered Accountant Nwarisi Nsirim Sonny from Eche LG, Rivers State, 43-year-old motor dealer, Mobolaji Bolaji David from Ilesha, Osun State, 40-yearold Abuja-based Customs Officer, Akano Isaac, and 25-year-old Ojulari Peter from Ilaje in Ondo State departed for Russia from the Murtala Mohammed International Airport on Saturday.

Globacom announced at a ceremony held at its headquarters in Lagos to send off the winners that this brought the total number of subscribers who have benefited from the all-expense-paid trip to 21. The 22nd winner, Osagie Edwin Isibor, who emerged in batch two could not travel because of ill-health.

The company urged the latest beneficiaries to project the image of the country positively in Russia. â&#x20AC;&#x153;We congratulate you on

winning in the GO RUSSIA promo. Be good ambassadors of Nigeria in Russia, conduct yourself well and portray the country in good light all through your stay thereâ&#x20AC;? it advised.

The winners expressed their joy, and said they were excited

about the prospect of the trip.

They also thanked Globacom for introducing the GO RUSSIA promo. Nwarisi Sonny said, â&#x20AC;&#x153;Globacom, una do well o!

Keep it up, you have done very well. You have promised and you have deliveredâ&#x20AC;?. Another winner, Mobolaji David, who

admitted initial doubts about the genuineness of the promo thanked Globacom for the rare privilege to visit Russia.

Similarly, Ojulari Peter said, â&#x20AC;&#x153;Thank God, Thank Glo, the trip promises to be interesting as Russia is the destination for everyone at this time â&#x20AC;&#x153;.

GO RUSSIA WINNERS (L-R) Akano Issac from Abuja, Mobolaji David from Osun State, Ojulari Peter from Ondo State and Nwarisi Nsirim Sonny from Rivers state, at the send â&#x20AC;&#x201C; oďŹ&#x20AC; ceremony for batch four winners in the Glo GO Russia promo who departed Nigeria for Russia on Saturday

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T H I S D AY ˾ MONDAY, JULY 9, 2018

MONDAYSPORTS

W O R L D C U P 2 0 1 8 … JUNE 14 TO JULY 15

Ashley Young and wife Nicky Pike take a stroll in St Petersburg, near the team’s training camp, the day after England beat Sweden in the World Cup quarter-final

Croatia Searching for Missing Puzzle Ahead of Clash with England They have experience, bags of talent and there is no questioning their fighting spirit, yet there is something still strangely lacking in the Croatia team which has reached the World Cup semifinals for the second time in their history.

Croatia became only the second team to win successive penalty shootouts at the World Cup, following in the footsteps of Argentina in 1990, when they overcame Russia 4-3 on Saturday night to follow up their win over Denmark in the previous round.

Neither of those overall performances, however, were worthy of potential World Cup winners, nor did they seem to do justice to the quality of Croatia’s line-up, which is one of the most gifted in Russia.

Fourteen members of their squad are based in Europe’s top five leagues – England, Spain, Italy, Germany and France – including Luka Modric and Mateo Kovacic at Real Madrid, Ivan Rakitic at Barcelona and Mario Mandzukic at Juventus.

When Croatia stormed through the group stage with nine points from three games, they did indeed look like serious contenders. But the spark seems to have gone in knockout stages and instead they have had to rely more on resilience to get them through against less gifted opponents.

Coach Zlatko Dalic certainly showed plenty of bold, attacking intentions against Russia.

The gifted Modric and Rakitic were fielded in the centre of midfield, with no defensive cover, and there were two wingers in Ante Rebic and Ivan Perisic and two centre forwards in Manduzkic and Andrej Kramaric. But it did not quite work out as planned.

Croatia’s long periods of possession were largely unproductive, the final pass was invariably missing and they were surprised by Russia’s aggressive approach.

“We were undermanned in midfield,” said Dalic. “We were left to only hit long balls. That’s

not how Croatia play. That’s not our style.”

Going to extra-time and penalties meant using up valuable reserves of energy that could potentially put them at a disadvantage in their semifinal on Wednesday when they face an England side who coasted to a 2-0 win over Sweden.

“There were times when we lacked energy: 240 minutes of football in six days takes its toll on you,” said Modric who, like

Mandzukic and Rakitic, is into his thirties. Dalic, however, said there was plenty left in the tank.

“Of course there is some power left for the English – we will not stop, we will try to play our best game then,” he said.

“We have two matches to play, we are very motivated, we will give our all.”

And, if all else fails, Croatia can always go into a penalty shootout confident that they will come out as winners.

all inside that Fisht Olympic Stadium, it was obvious that that theory will be proved wrong that night. Both Russia and Croatia passed same route to get to the quarter-final stage. Like Russia, Croatia survived a bruising battle with Denmark. After one-all regulation and added time result, Luka Modric and his colleagues pulled through 3-2 in Shoot out.

And so, many Russian fans were already seeing Akinfeev as the next Lev Yashin to lead them to the Last Four stage. But that was not to happen. Brazilian-born Mario Fernandes who had kept Russia’s dream alive when he headed home in the 115th minute to drag the game against Croatia into penalties failed to convert his kick, just as Fedor Smolov. Mateo

Kovacic had his penalty saved by Akinfeev, but Marcelo Brozovic, Modric and Vida all netted theirs before Rakitic stroked in the winner to send Croatian President Kolinda Grabar-Kitarovic who watched the encounter from the VIP Box into dancing mood. The chants of R0-SSIYA also stuck on the throat of Prime Minister, Dmitry Medvedev, but he was magnanimous in applauding Grabar-Kitarovic for her country’s passage to confront England in the second semi final on Wednesday at the Luzhniki Stadium in Moscow.

“We leave the tournament with tears in our eyes but our heads held high,” the Russian team tweeted as the stadium emptied of the 45, 000 or so who had lost their voices after the shootout.

D U R O ’S R U S S I A N OT E . . .

Chants of RO-SSI-YA End in Tears Russia’s fairy-tale run at the ongoing World Cup at home here ended in tears on Saturday night at the Fisht Olympic Stadium in the Black Sea city of Sochi. Shouts of RO-SSI-YA that dominated every space here right from the opening game inside the Luzhniki Stadium in Moscow literarily died out with Ivan Rakitic’s match-winner. It was an emotional evening for all. Russia was just a shouting distance from playing in the semi finals for the first time since 1966 (as Soviet Union). They missed the train to the semis by a whisker!

The defeat was a heartache that not a few of their boisterous fans were left without wiping tears from the eyes. It was one midnight that the country of almost 145 million people will not forget in a hurry.

The penalty shoot out proved a cruel anti-climax of a sort for the Reds who as the lowest ranked team here turned formbooks on their heads.

After regulation deadlocked at 2-2, Russia’s self-believe played a greater role in seeing the Reds surge, and looking for the winning goal in the added extra-time. Each time they had the ball, their roaring fans urged them on but the Croats refused to be cowed.

With time ticking away on the clock, Russia, perhaps were looking in the direction of Igor Akinfeev to rise up again to the challenge the way he did against Spain in that Round of 16 earlier shootout which the Reds won 3-2. But with the saying that thunder doesn’t strike same spot twice ringing in the ears of

Federer, Nadal and Serena Set for Busy Day at Wimbledon With all of the men’s and women’s last 16 singles ties taking place, it is one of the most exciting days in the tennis calendar.

Defending champion Federer faces French 22nd seed Adrian Mannarino while two-time champion Nadal plays Jiri Vesely.

Seven-time winner Williams, the favourite for the women’s

title, plays Russian qualifier Evgeniya Rodina. Three-time champion Novak Djokovic will play Karen Khachanov while Gael Monfils meets eighth seed Kevin Anderson.

Karolina Pliskova, the only remaining women’s top 10 seed, plays world number 20 Kiki Bertens.

Federer made serene progress through the first three rounds,

extending his run of consecutive sets won at Wimbledon to 29 as he bids for a record-extending ninth men’s title.

The Swiss swept aside bighitting Jan-Lennard Struff in one hour and 34 minutes in round three but said he is pleased at the variety of opponents he has played so far.

“It’s good that I faced different types of opponents

I think in this first week, and was able to find a way to get through,” Federer said.

“I think it’s always helpful.

He is a hard hitter. In the next round it will be a lefty. It will be much more of a strategic match, I believe.”

Nadal, another player who is yet to drop a set, plays another left-hander in Czech Vesely, the world number 93.

WORLD CUP 2018…

Nigeria Open T’tennis Has Impacted Positively on Lagos, Says Tandoh It is a known fact that ITTF Challenge Nigeria Open has continued to attract international attention to the commercial nerve center of Nigeria – Lagos State in the last five years.

As Nigeria’s largest urban area, Lagos is a major financial centre and the Executive Chairman of the Lagos State Sports Commission (LSSC), Kweku Tandoh believes the staging of the annual ITTF Challenge Nigeria Open has put the state on international limelight as well as exposed its tourism potentials to the world.

“The ITTF Challenge Nigeria Open is indeed a unique event that started out as the Lagos International Table Tennis Classics in 2014. Just after one year of its coming into existence, the success of the event attracted the attention of the ITTF into approving its inclusion in the ITTF annual calendar of events and the event has continued to grow in leaps and bounds.

The impact of the Nigeria Open on Lagos State has been huge and beneficial in many respects. For example, the event annually attracts tourists from all over the world into the State.

It has helped to showcase the beneficial synergy between sports and tourism, a major area of focus for Governor Akinwunmi Ambode.

“In addition, many Lagos State athletes are now annually exposed to meeting, watching and playing with international players and is

has helped to improve their own performances. Commerce and local business also thrive in the State during the Nigeria Open as there are increased commercial activities in and around the venues, hotels improve occupancy rates and sponsors and partners have an opportunity to market their products and make brisk sales.

Of course the period of the event and its international flavour, international media exposure all help to ensure that Lagos State is in the international spotlight.

Another benefit to the State is the opportunity the event offers our Sports Commission staff to build capacity in the area of sports event planning and organization,” Tandoh said.

For 2018, Kweku Tandoh said: “This year Lagos State has improved upon its partnership contribution as promised

by Governor Akinwunmi Ambode during the finals of last year’s event. We are also working closely with the Local Organising Committee (LOC) to ensure that this year’s event is bigger and better in all ramifications.

“Nigeria Open offers us the opportunity to use sports/ sporting events to boost tourism.

The event will also be listed in the Lagos State Tourism Annual Calendar. We also intend to incorporate bus and/or boat tours for the visiting athletes and officials and also expose them to the sights, sounds, arts and culture of the State.

Onigbinde Salutes Okoku over Charity Work A former Super Eagles coach, Festus Onigbinde is impressed with the charity work that ex-international, Paul Okoku in championing through the Greater Tomorrow Children’s Foundation (GTCF).

Since the launch of the GTCF at a colourful and well-attended ceremony in the Federal Capital Territory, Abuja on April 17, 2014, the charity-based organisation has brought smiles to the faces of less-privileged persons and kids in the society, through the many laudable life-touching programmes it has conducted in various parts of the country.

From donating relief materials to international displaced persons in Abuja in the north of the country to feeding kids during the annual Children’s Day celebration in Lagos and Delta States and the more recent free donation of 20, 000 textbooks to schools pupils and students, the Greater Tomorrow Children’s Foundation has carved a name for itself in the area of charity works and providing a better

society for indigent children.

Speaking during the recent books donation in Delta State, Onigbinde, who graced the epoch-making occasion, said he was proud to be associated with Okoku, who was one of the players, who he coached at the 1984 Africa Cup of Nations ‘’I am proud to be associated with Okoku and the Greater Tomorrow Children’s Foundation because it is not easy to see a young man do what he is doing in terms of helping the less-privileged ones in our society. ‘’What Okoku is doing through Greater Tomorrow Children’s Foundation will go a long way to define and determine how well our society will become in the future and he deserves to be supported”, added Onigbinde.

The former Eagles coach urged blue-chip organisations and well-meaning individuals to team up with Okoku in the alleviation of poverty and provision of succour to the less-privileged ones in the country.

Monday July 9, 2018

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Price: N250

MISSILE PDP to FG

“The world can now see how the Buhari presidency has been concealing sharp practices under it. We can now see why there is humongous corruption under President Buhari’s watch and why Mr. President has refused to take any concrete steps to check the sleazes in his administrations” – The PDP charging President Buhari to immediately sack, order the arrest and trail of the Minister of Finance, Mrs. Kemi Adeosun, for alleged forgery of her NYSC certificate.

AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akin.osuntokun@thisdaylive.com

The 1966 Perspective On Obasanjo O n his way to attend the funeral ceremony of the mother of Pastor Tunde Bakare in Abeokuta penultimate Friday, President Olusegun Obasanjo escaped a potential air disaster. Running late for the wake keep evening service, he had chartered a chopper in order to reduce the journey duration from a minimum of one hour by road to 15 minutes by chopper.

Mid way into the flight, the chopper developed a mechanical problem, bad enough for the pilot to do a U-turn and head back to the departure point in Lagos.

The not too immediate background to this incident was his outcry to the effect that the government of President Muhammadu Buhari was intent on hounding him out of circulation through the instrumentality of a criminal frame up.

Following from his lead protagonist role in the struggle against the reelection of President Buhari, there has been an overt and covert display of malice by the Buhari camp towards Obasanjo. Regardless, it seems improbable that such animus had escalated to a stage where he would be subjected to the extreme counterpart of the Abacha treatment he suffered years ago. This improbable scenario notwithstanding, his elimination would have been too politically convenient for his political adversaries and suspicion would inevitably fall on Buhari and instantly provoke a backlash of serious political upheaval. In the circumstance, congratulations are in order for the potential victim, Buhari, Tunde Bakare and Nigeria at large.

I have, of recent, found myself in the familiar role of an interlocutor for the former President and the camp of the advocates for constitutional restructuring of the polity to which I belong. He sat me down and inquire of me what I honestly believe is the way forward for Nigeria. I decided the best way to make my case was to nudge him to reach a semblance of analytical conclusion on the indispensability of the restructuring proposal to the political survival of Nigeria.

How does he rate the sense of national unity and mutual tolerance among Nigerians in the first republic spanning 1960 to 1966 in comparison with what presently obtains?

As I anticipated (given the regional based federalism of the independence constitution) he immediately countered that within that period, Nigeria comprised of three countries in one-in other words, Nigeria was far more divided. I told him the evidence does not bear out that anecdote. First, the relatively rancor free fast paced socio economic development of the era could only have been a by-product of a nation relatively at peace with itself and with the constitutional status quo. Were the contrary to be the case, it would have been mindless of the Western region, for instance, to be indifferent to its minimal representation in the Nigerian military. The constitutional arrangement predisposed Nigerians towards self-sustenance rather than subversive altercation over the division of the unearned booty localized in one part of Nigeria.

Second, the lopsidedness and the

Obasanjo

federal character blind composition of the perpetrators of the January 15 1966 argued against the interpretation of the coup as deriving from a background of national disunity. Paying little or no heed to the ethnic composition of the coup leaders is an indication of a subconscious that took it for granted that they were acting in the interest of Nigerians across the board. To believe otherwise would require us to assume that the conspirators were uncommonly stupid and dumb. How do you intend committing a crime and then willfully provide all the evidence needed to corroborate the crime? All those who knew Major Kaduna Chukwuma Nzeogwu were absolutely convinced his arrowhead role in the coup permitted of no other explanation than the assumption of Nigerian nationalism. And the immediate perception of the coup by all parts Nigeria was not from the lenses of a disunited nation.

It took a dangerous drift and sequence of omissions and commissions for the North to arrive at a definitive imputation of Igbo regional conspiracy and complicity.

Third the prevailing pseudo unitary political configuration of Nigeria was not a response to any perceived lack of national unity allegedly fomented by the practice of the independence constitution. It is a specific product of the 1966 coups in which the group that militarily prevailed, namely the makers of the July 1966 counter coup proceeded to impose its will and vision as the political orthodoxy of Nigeria. It is rooted in the definition (of the political subjugation of Nigeria to Northern political supremacy) that was explicitly dictated by the triumphant mutinous group of Northern officers and soldiers in 1966. Subsequently, the outcome of the civil war ratified this newly inaugurated orthodoxy as the definition of national unity.

This is the dangerously flawed foundation on which contemporary Nigeria is founded and has culminated into a syndrome that spawned our sundry political vicissitudes especially the exacerbation of the malady (national disunity) it was ostensibly meant to assuage. It is a syndrome that has produced many casualties but has equally clarified how

this hazardous political passage might be successfully navigated by would be military career survivors (of non-Northern origins).

For such career survivors the paramount lesson to imbibe was the requisite total alignment with the explicitly defined ideology of Northern supremacy. Any contrary contemplation was untenable and extremely perilous if not suicidal.

Instructive illumination will be found in the familiar story of Brigadier Babafemi Ogundipe. In a complete negation of the cardinal military ethic of rigid discipline, a rank and file soldier pointedly refused the directive of the most senior Nigerian military officer (Ogundipe) and gave the condition for compliance as the approval of a fellow Northerner who so happened to be a far junior officer (to Ogundipe)-the then Captain Joe Garba.

This was the dawn of the received wisdom that there was no room for autonomous course of action by any military officer outside of the cast of those who originate from the North. Thus was foisted, in earnest, the hostage and captive mentality that would govern the conduct of Nigerian military officers (of non-Northern origins).

The sweetener on this bitter pill was the marketing of the patron\client subordinate relationship as nothing less noble than the calling to keep ‘Nigeria one’. This veneer of national unity served to provide officers like Obasanjo with the cold comfort of being able to rationalize their accommodation to the political status quo as a call to higher duty.

The first of those instances that would put to test how best he understood the accommodation was Obasanjo’s encounter with Wole Soyinka in 1967. As rear commander of the Nigerian army in Ibadan, he flatly refused collaboration with Soyinka and Brigadier Victor Banjo in a proposed Yoruba conspiracy that would see him look the other way while the Banjo-led Biafran forces advance (uncontested) through Yoruba hinterland to give battle to General Yakubu

Gowon in Lagos. Given the configuration of the Nigerian army at the time and fenced round by Northern troops it is a moot point whether the discretion he exercised in that defining moment was not the better part of valor. By the same token, there can be little doubt that attitudes like this would sooner endear him and build up his political capital with the Northern establishment.

In tandem, providence equally worked to boost this career trajectory by positioning him to be the one to receive the Biafran surrender in 1970. Such credentials had become sufficiently cumulative by 1976 when according to General Yakubu Danjuma, he imposed Obasanjo as military head of state (against the political norm of filling the vacancy created by the assassination of General Murtala Mohammed with another officer from the North).

Nine years later, the 1967 encounter reechoed in the face off he had with General Olufemi Olutoye-which similarly bordered on the political intricacies of managing the tension between the perceived obligations of his Yoruba ethnic identity and the reality of being answerable to the Northern regional stranglehold on Nigerian politics. Against the specific background of his imposition by the North (as military head of state) and the paranoia laden aftermath of the Dimka coup, the question again devolves on what latitude he had, to conduct himself differently from the way he did. The story was that Olutoye sought audience with him to discuss the relentless institutional bastardization of the Nigerian military (in which junior officers were catapulted to become politically elevated superiors to their senior colleagues)- especially as it affected Yoruba military officers. Beckoning on his Fulani deputy, Shehu Yar ‘Adua, to bear witness to Olutoye’s mission was little more than the acknowledgement of their vulnerability in a game in which neither him nor Olutoye or any officer of their regional pedigree was an equal player. You either ship in or ship out.

On Adams Oshiomhole

When next the Transparency International (TI), the United States annual report and the World Bank adjudged Nigeria as regressing in the fight against corruption the Nigerian government should be reminded that the ammunition for such recognition are routinely provided by the government itself. In the face of credible and overwhelming allegations of corruption against the former Edo State governor, Adams Oshiomhole, including the conspicuous physical evidence of a billions of naira worth mansion in his village, the All Progressives Congress (APC) went ahead to elect a man with this corruption albatross as the new Party chairman by acclamation. And no sooner did he assume office than Oshiomhole embarked on throwing stones from his glass house. Knowing fully well that he

was echoing the lie orchestrated by his principal, President Buhari, he called for the arrest of Obasanjo to account for the sixteen billion dollars power ministry scam of their imagination. Well here is a response by a cool and sober head who should know “I do recall that even as Vice President at the World Bank, from what the federal government made available as at that time showed that as at 2007, $3.5 billion had gone into these NIP projects. So, when I see sometimes, figures that get bandied around, I say part of the culture we must have as citizens is to say that whenever figures show up, we must interrogate them. We need to have a habit to interrogate data, otherwise they will be part of the political rascality of not wanting to be accountable to the society,” –Oby Ezekwesili

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