Senate Passes N30,000 as National Minimum Wage NLC hails red chamber Govs may accept new pay FG considers increase in VAT by 50% to fund new salary package Deji Elumoye and Onyebuchi Ezigbo in Abuja The Senate yesterday rounded off debates on the 2019 Appropriation Bill, passing
N30,000 as the new minimum wage for workers. The passage attracted appreciation from the Nigerian Labour Congress, which gave kudos to the red chamber of
the National Assembly. But the federal government yesterday indicated that it might increase Value Added Tax (VAT) by 50 per cent to enable it pay the new pay
package, which indications from the Nigerian Governors Forum (NGF) last night show that the state governors may accept to pay. The proposal to jerk up
VAT before the end of 2019 with a view to properly fund the national minimum wage was made public by both the Minister of Budget and National Planning,
Senator Udo Udoma, and the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, during an Continued on page 8
Investors Swoop on Treasury Bills, FGN Bonds as Political Uncertainty Ends... Page 10 Wednesday 20 March, 2019 Vol 24. No 8745. Price: N250
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Abuja Court Stops Resumption of Collation of Bauchi Gov Election Results INEC moves to vacate order PDP, lawyers kick, say court lacks jurisdiction Davidson Iriekpen in Lagos, Adedayo Akinwale and Alex Enumah in Abuja The Federal High Court in Abuja yesterday stopped the Independent National Electoral Commission (INEC) from resuming the collation of results of the governorship election held in Bauchi State on March 9, 2019.
The order obtained ex parte by the state Governor, Alhaji Mohammed Abubakar, and his party, All Progressives Congress (APC) in the court of Justice Inyang Ekwo, was however, challenged immediately by the Peoples Democratic Party (PDP) which was asked to come back to Continued on page 8
Yari: Zamfara Bandits Better Equipped than Security Forces Says they stockpiled 500 AK-47 rifles in one armoury Omololu Ogunmade in Abuja Zamfara State Governor, Alhaji Abdulaziz Yari, yesterday in Abuja said bandits terrorising the state were more equipped than the entire security forces deployed to combat their activities. Yari, who made this disclosure while fielding
questions from journalists in the State House after holding a meeting with President Muhammadu Buhari, said the bandits had stockpiled as many as 500 AK-47 rifles in only one of its armoury. According to him, the stockpiling of such a volume Continued on page 10
Speaking on Buhari’s Victory Subjudice, Says Obasanjo... Page 8
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Speaking on Buhari’s Victory Subjudice, Says Obasanjo Francis Ndubuisi in Abuja Former President Olusegun Obasanjo yesterday declined to comment on President Muhammadu Buhari’s victory at the presidential poll held on February 23, 2019, saying it would be subjudice. The former president spoke
at the Shehu Musa Yar’Adua Centre Abuja, during the launch of a book: “Election in Nigeria: The Long Road to Democracy,� written by Prof. Abdullahi Shehu. The event attracted very important personalities, including a former Head of State, Gen. Yakubu Gowon
(rtd); human right activist, Mr. Femi Falana SAN, and a former Deputy Senate President, Senator Ibrahim Mantu, among others. Obasanjo said: “I will not dabble into the details of what I call current aspect of Prof. Shehu’s book because since the emphasis was on the
national election, particularly the presidential election, and the presidential election is now taken to court. “I think talking about it would become subjudice, because it has been taken to court." Obasanjo, whose preferred candidate was the flag bearer of
the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has not offered any comment since the announcement of the result of the poll last month. Atiku, however, rejected the outcome announced by the Independent National Electoral Commission (INEC) and challenged it at the Presidential
Election Petition Tribunal (PEPT) on Monday, asking to be declared the winner of the contest. In the alternative, he asked the tribunal to annul the results and order a fresh poll which would be counted in accordance with the electoral laws.
than to allow our members to seek similar exparte orders to halt statutory processes including the swearing-in of APC candidates at various levels, particularly President Muhammadu Buhari. "Section 87 (10) of the Electoral Act is unambiguous in its prescription that nothing in this section shall empower the courts to stop the holding of primaries or general election or the processes thereof under this Act pending the determination of a suit. "Our party, therefore, charges INEC to be properly guided by the law in this regard.� The PDP also urged the judiciary not to allow the APC to entangle the court in its shenanigans to destroy the nation's hard-earned democracy, stressing that Nigerians in Bauchi State have elected the PDP and nothing can change this reality.
submissions, a former president of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN), pointedly advised INEC to disregard the order, saying an order made in vain and without jurisdiction is not supposed to be obeyed. “It is not a pre-election matter and as such the Federal High Court cannot adjudicate on it. INEC should disregard the order. “An order made in vain and without jurisdiction is not supposed to be obeyed.� Chief Mike Ozekhome SAN likened the order by the Federal High Court to the order which led to the annulment of the June 12, 1993 presidential election, which was acclaimed to have been won by Chief MKO Abiola. He described that action of the APC and Governor Abubakar as an act of desperation, adding they do not have any ground to go to court since the matter was not a pre-election matter but a dispute arising from an election. Ozekhome contended that the proper place to seek redress should have been the Governorship Election Petition Tribunal. He argued: “The order is like the one aborting June 12, 1993 presidential election. The APC does not have any ground to go to the Federal High Court. “It is an act of desperation. The proper place should have been the Governorship Election Petition Tribunal.� Also, a human rights lawyer, Mr. Femi Falana SAN, referred to Section 285 (2) of the Constitution which confers disputes arising from governorship elections strictly on Governorship Election Petition Tribunal and concluded that Abubakar and APC were supposed to head to the tribunal and not the court. “By virtue of Section 285 (2) of the Constitution, it is only the Governorship Election Petition Tribunal that has the jurisdiction to hear the matter not the Federal High Court. The Federal High Court’s jurisdiction covers pre-election matters,� he said.
ABUJA COURT STOPS RESUMPTION OF COLLATION OF BAUCHI GOV ELECTION RESULTS court to argue its motion on jurisdiction today. The electoral body was also in court yesterday to challenge the order and its motion to vacate it was adjourned till today. The PDP and senior lawyers were swift to react to the development yesterday, saying the court acted without jurisdiction, contending that the matter being post-election could only be entertained by an election petition tribunal. In the exparte motion, the APC and Abubakar had prayed the court for an order of interim injunction restraining INEC from resuming, concluding or announcing the result of the Tafawa Balewa Local Government Area of Bauchi State in respect of the election to the office of Governor of Bauchi State. Justice Ekwo, while ruling on the exparte ordered INEC to appear before him today to show cause why the order sought by the two plaintiffs ought not to be granted. But INEC, represented by a Senior Advocate of Nigeria (SAN), Mr. Tanimu Inuwa, at the proceedings approached the court with a motion challenging its jurisdiction. Counsel to the plaintiffs, Mr. Ahmed Raji SAN, however, objected to the application of INEC, informing the court that the order asking the electoral body to show cause why the requests of the plaintiffs should not be granted had not been obeyed. Raji told the court that the business before the court was to determine whether the earlier order had been complied with. He drew the attention of the court to a press statement issued by one Festus Okoye, INEC National Commissioner and Chairman Information and Voter Education Committee, dated March 15, 2019, announcing that the electoral body will resume collation of the Bauchi governorship election, adding that except the court grants the interim order the subject matter of the two plaintiffs would be destroyed. Responding, Inuwa admitted that the order had not been complied with and requested to address the court orally on the issue. His request was, however, refused by the judge.
Justice Ekwo held that since the exparte application was in writing and duly served on INEC, it behoves on the defendant to appear before the court with a written or formal response. In his bench ruling, the judge granted the interim injunction restraining INEC from resuming, concluding and announcing the governorship election result in Bauchi State pending the determination of all issues raised by the plaintiffs in their originating summons. Justice Ekwo also granted accelerated hearing in the matter and ordered parties to appear before him today to present their positions in the substantive matter.
INEC Moves to Vacate Order The electoral body moved swiftly to vacate the order yesterday, filing a motion challenging the jurisdiction of the court to entertain the exparte application filed by Abubakar and the APC. The INEC had earlier fixed March 23, 2019 for the conduct of supplementary elections to conclude the process and make a return in the governorship elections in Adamawa, Sokoto, Bauchi, Benue, Kano and Plateau States, which were declared inconclusive. However, the commission later reversed itself on Bauchi State as it approved the resumption and conclusion of the collation of results of Tafawa Balewa LGA, after the committee set up by the commission established that the result in polling units and registration areas were available and in safe custody. The committee also established that the number of cancelled votes for the four polling units in Ningi LGA, which was recorded as 25,330 in form EC40G (1) was incorrect, as the actual figure was 2,533. But in the ex parte motion, the APC and Abubakar had prayed the court for an order of interim injunction restraining INEC from resuming, concluding or announcing the result of the Tafawa Balewa LGA in respect of the election to the office of the governor of the state. Reacting to THISDAY
enquiry yesterday, INEC National Commissioner and Chairman Voter Education and Publicity Committee, Mr. Festus Okoye, confirmed that the electoral body has suspended the collation of governorship results relating to the Tafawa Balewa LGA, based on the order of a Federal High Court sitting in Abuja. He added that the collation and declaration of results for Tafawa Balewa State Constituency Election would continue, while the supplementary election relating to other polling units not affected by the court order would continue on Saturday Okoye stated: “The commission will continue to obey court orders and will take steps to vacate orders that it believes are not in consonance with the law. The commission has filed a motion challenging the jurisdiction of the court and will wait for the determination of the suit.� The commission had always maintained that whenever it is served with a court order, it deliberates on it, satisfies itself that the order is from a properly constituted court of law and relates to the issues within its statutory and constitutional mandate. The commission also said that it does not sit on appeal over orders from the various courts and it does not pick and choose which order to obey and which one not to obey. INEC had insisted that it was a matter of common knowledge that the country is now within the orbit of post-election challenges and litigation, adding that no new matter could be filed or adjudicated upon by the various courts arising from the conduct of elections. The commission stressed: “The Constitution of the Federal Republic of Nigeria,1999 (Fourth Alteration, No. 21) Act, 2017 gives the High Courts of the states, the Federal High Court and the High Court of the Federal Capital Territory, Abuja the exclusive right and jurisdiction to hear and determine matter with pre-election flavour. “The moment elections are conducted, all matters relating to whether anyone has been validly elected as a member
of the National Assembly or whether a Certificate of Return was validly issued to a candidate reverts to the National and State Houses of Assembly, Election Petition Tribunals that are established pursuant to section 285 of the Constitution of the Federal Republic of Nigeria."
PDP Rejects Exparte Order Stopping Final Collation of Bauchi Guber Results The PDP in it reaction yesterday rejected the order as 'arm-twisting' of the judiciary and the court by the APC to unconstitutionally halt the conclusion of collation of already declared results in the Bauchi State governorship election, which has been won by the PDP. The party in a statement yesterday by its National Publicity Secretary, Mr. Kola Ologbondiyan, said that it was clear that collation of result is part of the electoral process and that INEC cannot act on a purported exparte order to jettison its independence and halt the collation of results, which is a key component of its statutory electoral duty. The main opposition party noted that such development, which is akin to the infamous order that derailed the 1993 democratic process, was part of the plot by the APC and certain compromised elements in INEC to escalate crisis and derail the country's electoral process. The party warned that if this desperate underhand measure by the APC to halt electoral processes is not checked, the country's hard earned democracy would fail and the nation thrown into anarchy. Ologbondiyan stated: "The power to collate, suspend collation and or to reverse such decision based on obvious circumstances as the case in Bauchi is clearly within the domain of INEC. Until collation is completed and results declared, no one can question the constitutional powers of the electoral body: INEC, in that regard. "Our party should not be constrained into a situation in which we will have no option
Lawyers Urge INEC to Disregard Order Meanwhile, senior lawyers have advised INEC to ignore the order of the Federal High Court, saying the court lacked jurisdiction to adjudicate on the matter. For instance, Mr. Godwin Obla SAN said the suit filed by Abubakar and the APC, leading to the order was an abuse of court process. Obla added that since the dispute arose as a result of an election that has been conducted, the proper place for the governor to go should have been the Governorship Election Petition Tribunal. He submitted that the dispute is not a pre-election dispute which the Federal High Court has jurisdiction to hear. He said: “It is an abuse of court process as far as I am concerned. You can’t go to a regular court once an election has been conducted. “He is in the wrong court. He has no business there. It is not a pre-election matter. The matter has now become a matter for the election petition tribunal. “The danger in this is that if it is allowed to continue, copy-cats will now take advantage of it to begin to file frivolous suits in courts.� Aligning himself with Obla’s
SENATE PASSES N30,000 AS NATIONAL MINIMUM WAGE interactive session, with the Senate Committee on Finance headed by Senator John Enoh, on Medium Term Expenditure Framework (MTEF) for the 2019 budget. Udoma and Fowler claimed that the federal government was considering an upward review of the five percent currently charged as VAT by 50 per cent to enable it to fund the new national minimum wage. Udoma also emphasised that the Technical Advisory Committee on minimum wage, would submit its report to President Muhammadu Buhari this week. He added that government
would soon approach the Senate over the possibility of increasing VAT to fund the new minimum wage. He said: “So we will be coming to you. There may be some changes maybe in VAT and other things. But we will be coming to you in order to make sure that we can fund the minimum wage. “Not just to fund the minimum wage but as you announce it, you now enter into negotiations with those above the minimum wage and we have to be prepared for that. “So it is something we are going to work closely with
the Finance Committee on how best this minimum wage will be addressed, both from the federal government and the states, to ensure that the whole government apparatus is not just paying salaries and nothing else. “It is important that we are able to pay the minimum wage and still have enough resources to do infrastructure. The committee has virtually completed its work." Fowler said the proposed payable VAT by Nigerians based on the increment would actually be between 35 per cent and 50 per cent. Fowler, who said the
FIRS’ goal was to achieve an N8trillion revenue generation target this year, also said the 50 per cent increment will affect the Company Income Tax and the Petroleum Profit Tax. According to him, “By the end of this year, we should be ready for an increase in the VAT. A lot of Nigerians travel to Ghana and other West African countries and they can see that theirs is much higher. They pay when they go for those trips. We should be ready for an increase on VAT. “I can certainly see an increase in VAT of at least 35 per cent to 50 per cent this year based on our enforcement activities. There
certainly will be an increase in Company Income Tax and also on Petroleum Profit Tax.� Also yesterday, the Senate passed the new minimum wage bill which put the salary for the least paid Nigerian worker at N30,000. It called for a review of the Revenue Sharing Formula to give the states more financial muscle with which to implement the new minimum wage. The current revenue sharing formula gives federal government 52 per cent, while states and local government get 24 per cent and 20 per cent Continued on page 10
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Investors Swoop on Treasury Bills, FGN Bonds as Political Uncertainty Ends Obinna Chima Following the successful completion of the general election, which has since seen the deceleration of political risks in the country, portfolio investors are presently taking advantage of Nigeria’s attractive fixed income instruments. The Central Bank of Nigeria (CBN) last week held its first Primary Market Auction (PMA) for the month of March. The auction was for instruments across three tenors (91-day, 182-day, and 364-day). It also held an open market operation (OMO) auction for only the 91-day tenor during the week. For the treasury bills’ PMA, a report by analysts at Afrinvest Securities Limited,
disclosed that investor interest was upbeat as all tenors were oversubscribed with bids-offers settling at 2.87 times, 3.32 times and 7.67 times for the 91-day; 182-day and 364-day instruments. Also, a separate report by analysts at Cowry Assets Management Limited, showed that there was demand pressure from foreign portfolio investors in the market. Similarly, in the bond market, the average ask-yield on Sovereign naira bonds pared further in the week as it declined by six basis points to settle at 14.3 per cent, as investors continued to take position in attractively priced instruments. Speaking in a telephone chat with THISDAY, a trader with Ecobank Nigeria, Mr. Kunle Ezun, explained: “Before the
DMO DG, Patience Oniha elections were even concluded, some foreign investors had started taking position in the market already. “A lot of them came in and were betting on Nigeria’s instruments and those of them that came in to buy one-year bills at 15 per cent, already made a lot of money.
“A lot of those foreign investors priced in political uncertainty into whatever decision they were taking at that time. They had liquidity and they were bold to take the risks.� According to Ezun, “the kind of returns you get in Nigeria, you can’t get it anywhere else in the world. “We have yields at about 16 per cent, an exchange rate that has remained stable and inflation rate that is trending downward. “So, what else do you need than to take a bet? With the re-election of President Muhammadu Buhari, what investors expect to see is stability, which is what any investor wants. “They need an environment that is stable, so that they can ride on the yield curve,� Ezun
added. Continuing, analysts at Afrinvest stated: “Next week, we expect system liquidity to be lifted by the impact of maturities worth N169.4 billion expected on the 21st of March. “Consequently, we expect the CBN to hold OMO auction, in line with trend, to keep system liquidity in check. “The direction of activities in the secondary market last week was in line with our expectations for the market over the near-term. “We expect that yields would decline as position taking from investors intensify in the face of attractive yields and the depressed equities market.� The Debt Management Office (DMO) is scheduled to hold the last primary market auction for the first quarter
on March 27, 2019, when the FGN APR 2023 and FGN FEB 2028 instruments would be auctioned through re-openings. Meanwhile, findings by THISDAY showed that the central bank has minimised the amount of its liquidity mop up in the money market as concerns of inflationary pressure continues to ease as well as with the elections over. The CBN had between December last year and February this year, increased its frequency of OMO so as to mop up the excess liquidity in the market. The Consumer Price Index (CPI), which measures inflation, further decreased to 11.31 per cent (year-on-year) in February compared to 11.37 per cent in January, according to the National Bureau of Statistics (NBS).
governors may have dropped their opposition to the implementation of the N30,000 new minimum wage following the recommendations of the federal government's technical committee on the new minimum wage. The 36 state governors under the auspices of the Nigerian Governors Forum (NGF) had opposed the proposed new minimum wage figure of N30,000 as was recommended by the tripartite committee, saying that they lacked resources to implement it. Instead the governors proposed N22,500 as what the states can afford. However, reliable presidency source told THISDAY yesterday that the technical committee led by Bismarck Rewane has recommended two quick solutions to the financial crisis hitting the states. Among the initiatives proposed by the committee were the increment in VAT and an adjustment in the official exchange rate of the Dollar to the Naira. "The Rewane technical committee actually came up with solution to the problem that made the governors to say they will not be able to pay the N30,000. One of the initiatives proffered by the committee to cushion the impact of the new minimum wage on state governments is the increment in charges for Value Added Tax (VAT),�the source said, adding that there has to be an increment in VAT to 7% which will go to the states.
He said that the federal government has also acceded to the state governors’ demand to raise the official exchange rate of Dollar from N330 to about N346. According to a source who is privy to some of the recommendations of the technical committee, said that provisions were being made to ensure that states get some surplus revenue earnings from the two initiatives which will make states to be able to pay the new minimum wage bill. "I think that the states are likely to accept the minimum wage, especially as the official value of the Dollar is going to be adjusted in favour of the states. In addition, the states are going to get resources from two to three other sources that is why the issue may not generate any further disagreement. These are highpoints of what the technical committee arrived at and I think the governors are comfortable with that," it said. Meanwhile, in a telephone interview with journalists, NLC Deputy President, Mr. Amaechi Asugwuni, urged Buhari to follow the part of honour and immediately sign into law the new pay rise document once he receives it. NLC while applauding the Senate for the hike in the amount to be charged for defaulters, challenged state governments to brace up to accommodate the new salary increase once it is signed into
law by the president. The NLC, however, expressed reservation over Senate's call for a review of the Revenue Sharing formula to give federal government 56 per cent, states 24per cent and local government 20 per cent, arguing that the minimum wage bill is an independent bill, which should not be subjected to adjustments in sharing formula by the Revenue Mobilisation and Fiscal Commission. Also reacting to the Tuesday's passage of the minimum wage bill by the Senate, the Head of Information Unit in NLC, Mr. Benson Ukpah, said the labour movement is happy with the Senate's decision. He said: "We would like to commend the Senate for having the presence of mind to act in concurrency with the House of Representatives. We will still need their support in the days ahead.� When asked whether NLC expects further opposition from the state governors on the N30,000 new minimum wage figure, he said members of the organised labour were not expecting anything that will drag the process backwards. "We do not expect to go back and forth, the process that led to the arrival at the N30,000 new minimum wage remains unimpeachable and cannot be controverted by anybody. We do not envisage any party acting within the precincts of the law to oppose what the National Assembly has approved," he said.
at this point and given the situation we are in right now, dialogue is not needed.’’ Also yesterday, Buhari met with service chiefs including the Inspector-General of Police, Mohammed Adamu, behind closed-doors in the Presidential Villa. In attendance were the Chief of Defence Staff, Gen. Gabriel Olonishakin; Chief of Army Staff, Lt. Gen. Tukur Buratai; Chief of Naval Staff, Rear Admiral Ibok-Ete Ekwe Ibas; the Chief of Air Staff, Air Marshal Abubakar Sadiq; National Security Adviser,
Maj-Gen Babagana Monguno (rtd); Director-General of DSS, Alhaji Yusuf Bichi; Minister of Defence, Brig-Gen Mansur Dan-Ali (rtd), and DirectorGeneral of National Intelligence Agency. After the meeting, the security heads kept sealed lips, declining to brief journalists on issues they deliberated on. In a related development, Katsina State Governor, Alhaji Aminu Masari, also held closed-door talks with VicePresident Yemi Osinbajo, over security challenges confronting his state.
SENATE PASSES N30,000 AS NATIONAL MINIMUM WAGE respectively and four per cent for ecological funds. The upper legislative chamber also concluded debate on the general principles of the N8.83trillion 2019 budget proposals and referred it to its Committee on Appropriation headed by Senator Danjuma Goje. The Senate at the plenary presided over by Senate President, Dr Bukola Saraki, directed the Appropriation Committee to submit report on the budget bill for final approval of Senate within two weeks. All federal ministries and government agencies were directed by Senate to appear before the committee to defend the estimates for their agencies. The approval of the new minimum wage bill came after the consideration of a report to that effect by the Senate Deputy Whip and Acting Chairman of the Senate Ad-hoc Committee on New Minimum Wage, Senator Francis Alimekhena. The Senate while approving the report, however, rejected the proposal by Buhari that a fine of N5,000 be imposed on any employer who fails to keep records of workers but rather imposed a N75,000 fine on such defaulters. It asked the ministry of finance to as a matter of urgency compute how much would be required to be added to the federal government's 2019 budget as a result of the approval of the new minimum wage bill. The report had recommended
that N30,000 be approved as the new National Minimum Wage as contained in clause 3(1) of the bill while also recommending that the fine for not keeping records of employees should not exceed N75,000. It also advised the federal government to put in place procedure for a review of the Revenue Sharing Formula to enable states to have financial muscle to implement the new minimum wage. Contributing, Senate Minority Leader, Senator Biodun Olujimi, emphasised that Review of Revenue Sharing Formula is key to the implementation of the minimum wage, pointing out that without it many states won't be able to pay. On his part, Senator Barnabas Gemade, stated that state governments had enough money to pay, arguing that "with the kind of money deployed to buy votes, it means the states have so much money to pay workers." Senator James Manager was, however, of the opinion that it has become embarrassing that some states had not paid the N18,000 minimum wage approved several years back. Also speaking, Senate Leader, Senator Ahmed Lawal, said the Buhari administration had fulfilled its promise of wage increase and asked workers to reciprocate because to whom much is given much is expected. He also advised that government must not wait for strike to do its job. “I believe that 2019 will witness stability in the Civil Service," he said.
The House of Representatives had on January 29 passed N30,000 as minimum wage for workers in both public and private sectors. The National Minimum Wage Bill presented by President Muhammadu Buhari sought to prescribe the National Minimum wage for the country and provide a legal framework for ideal review of the national minimum wage in line with the period specified under the bill. The 18-clause bill provides for the establishment of a Tripartite Committee on National Minimum Wage by Mr. President with equal representation from the federal, state governments, organised labour and organized private sector with the secretariat domiciled in the National Salaries, Incomes and Wages Commission. The bill provided that the Tripartite Committee shall compose of a chairman, secretary, government representatives (the Secretary to the Government of the Federation, Head of Civil Service of the Federation, Minister of Labour and Employment, Minister of Finance, Minister of Budget, National Salaries, lncome and Wage Commission and state governors from each of the six geo-political zones to be nominated by governors from the zones.
Governors May Accept New Minimum Wage Indications are that state
Labour Hails Senate
YARI: ZAMFARA BANDITS BETTER EQUIPPED THAN SECURITY FORCES of weapons became an open secret when a team comprising some people in the state met with the bandits during a dialogue session involving the Department of State Services (DSS), the army and police recently. However, Yari said when they offered to grant them amnesty so that they could surrender their arms, they declined, adding that till date, the number of the rifles surrendered by them are not yet up to 90. The governor, who is also the Chairman of the Nigerian
Governors' Forum (NGF), disclosed that the dialogue was at the instance of the bandits because it is easy to fish them out during dry season as against the rainy season when the forest would have been overgrown with plants. He added that given the peculiar situation of the state now, dialogue remains the best solution to banditry in Zamfara State. He said: “For instance, during the first dialogue, they invited some of our team, army, DSS, police, and
my chief security officer as well as some representatives of traditional rulers and we have seen what they have. “They are in control of the kind of weapons that the security command in Zamfara does not have. In one armoury alone, they have more than 500 AK 47 rifles. We saw it. “Our people were even given the chance to take pictures. But when we said we will dialogue and offer them amnesty, if they surrendered their arms, they refused. “I can tell you that till date we have not received up to
90 AK 47 rifles. So it is deceit. That is why I said no more dialogue during my tenure. During dry season, they try to get us to dialogue because they know the security forces can get to them anywhere in the forest and they would not have a place to hide. “But when the rainy season comes and the forest becomes thicker they return to their normal practice. That is why I said there has to be a show of force before anything else. I know that in any war, eventually, you have to come to the table and dialogue, but
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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268
House to Investigate Military Involvement in General Election Falana cautions FG against militarisation of elections
Shola Oyeyipo in Abuja and Esther Oluku in Lagos The House of Representatives has adopted a motion to probe the involvement of military personnel in the justconcluded general election. This is coming as a Senior Advocate of Nigeria (SAN) and human rights activist, Mr. Femi Falana, has cautioned the federal government against
the militarisation of elections in Nigeria. A House of Representatives member representing Nsukka/ Igbo-Eze South Federal Constituency of Enugu State, Hon. Asadu Patrick, in his motion tagged: ‘The Alleged Illegal Deployments, Uses, Misuses and Abuses of Soldiers of the Nigerian Army During the 2019 and Other Election Against the
Fleeing Boko Haram Members Kill Three in Borno Community Invade Adamawa villages, towns Michael Olugbode in Maiduguri and Daji Sani in Yola Fleeing suspected Boko Haram members on Monday besieged Lassa town, in Borno State destroying some properties and killing three persons. This is coming as suspected members of the group have attacked villages in Madagali and Michika Local Government Areas (LGAs) in Adamawa State. According to residents of Lassa, the members of the Boko Haram had earlier attacked Michika, where they engaged the military in a shootout. The military was said to have had an edge, forcing the insurgents to retreat towards their enclave in Sambisa Forest. During their retreat, they attacked Lassa in Askira-Iba LGA of Borno State, sending residents in panic, destroying some properties and killing three persons. A resident of Lassa, Joseph Satumari, in a telephone conversation with our correspondent, said: “The Boko Haram attacked Michika but was overpowered by the military and in the process of fleeing the battleground, they fled towards Lassa as the army had blocked Uba road and Gulak. So, the only way they can take was through Lassa”. “Because we have already heard of the attack on Michika and suspected that we (living in Lassa) could be attacked, we have fled into bushes and it was only those that were reluctant that were caught in the fire.” He said he fled with his entire family into the bush and had to sleep alongside over 100 others. Another resident of Lassa, Peter Ishaku told our correspondent that: “We need your prayers; Boko Haram entered Lassa last night around 8. 00 p.m; three people were killed, but we thank God the situation was calmed by the military and the vigilantes.” The Nigerian Army in a signed statement issued yesterday by the Acting Director, Army Public Relations, Col. Sagir Musa, said Boko Haram terrorists met their waterloo and suffered heavy casualties on Monday evening when they attempted to infiltrate Michika in Adamawa State. The statement read: “At about 7.20 p.m, gallant troops of 115 Task Force Battalion deployed at Lassa in Borno State received a distress call from vigilantes at
Maikadiri village on movement of suspected Boko Haram terrorists along Road Maikadiri – Shuwari enroute Michika. “The troops immediately organised blocking positions and swooped on the terrorists, which led to an exchange of fire. The terrorists attempted to escape, but were intercepted and suppressed with heavy volume of fire. “Consequently, the troops with reinforcement from 143 Battalion Gulak engaged the terrorists on two-front coordinated attacks. The BHTs were completely routed by the troops, neutralising many of them, while others fled in disarray due to superior firepower. “As a result, they hastily evacuated most of their corpses under the cover of darkness. The entire area has been dominated by own troops and the situation is completely under control. Items captured from the terrorists include one Ford vehicle, two Toyota Starlet vehicles loaded with foodstuffs, one motorcycle and one tyre inflating machine. Further exploitation is to be conducted this (Tuesday) morning. Calm has since returned to the city and inhabitants of the town are hereby enjoined to report the presence of strange faces in their localities and go about their normal businesses.” Meanwhile, suspected members of the Boko Haram insurgency have attacked villages in Madagali and Michika LGAs in Adamawa State. According to the indigenes of the area, the attack was a clear indication that the insurgents have run short of foodstuff and funds in their camps as it was revealed that they bombed the safe of a commercial Bank in Michika to enable cart away funds from the bank and food items from stores and shops in the town. Michika and Madagali were LGAs under the control of the insurgency in 2014, before the Nigerian troops liberated them from the griped of the insurgency. Reports from the affected areas revealed that the insurgents boycotted Gulak and Shuwa towns where there were concentration of troops and went through krisshinga village to attack other villages and Michika town. Confirming the attack, the state Commissioner of Information and Strategy, Ahmed Sajoh, said more troops have been deployed to the affected areas to quell the situation.
Express Provisions of the 1999 Constitution, the Armed Forces Act and Valid Subsisting Judgments of Various Courts of Competent Jurisdiction’’ expressed disappointment over the involvement of military men in the elections. Referring to THISDAY of January 20, 2019 edition, where the Chief of Army Staff, Gen. Tukur Yusuf Buratai, was quoted to have said, “Army cannot disobey any order given by the president,” when President Muhammadu Buhari gave the shoot-to-kill ballot box snatchers order, Asadu argued that the army chief directed commanders and soldiers on how to operate during elections without any recourse to the relevant laws or the National Assembly. According to him, “Despite strident opposition to this position of the Chief of Army Staff on the deployment and possible role of the army
during elections, the Nigerian Army allegedly deployed its officers and men in large numbers during the 2019 general election in flagrant disobedience to the courts and our laws, without any communication to the National Assembly from Mr. President on the need to deploy soldiers or even to inform members that these soldiers were deployed on the order of Mr. President. “Though some of these soldiers reportedly acted professionally and neutrally during these elections, other deployed soldiers were alleged to have descended into the arena of conflict, taken partisan sides and interfered with and in some cases, aborted the electoral process, as was reported in Rivers State, where the umpire, the INEC has officially in a statement signed by the Commissioner in charge of Information and
Voter Educations, Mr. Festus Okoye, indicted soldiers of the Nigerian Army, accusing soldiers of invading the collation centres, interfering with the collation of results and illegally arresting some INEC officials, thereby disrupting the collation and completion of the elections, all in alleged attempt to thwart the will of the people as expressed through the ballot.” Describing the Nigerian Army as a nationally accepted, unifying and critical agency, Asadu said that it should not be unnecessarily dragged into partisan politics on purely civilian contests, adding that the development can damage its professionalism, national acceptability, ethical standards, discipline and rating both nationally or internationally. Adopting the motion -- as a matter of urgency, he urged the House of Representatives to set up a high-powered
ad hoc committee to carry out a holistic, detailed, comprehensive and farreaching investigation of the deployment, uses, misuses and abuses of the soldiers of the Nigerian Army in the 2019 election and other elections and make adequate recommendations to the House within four weeks. The motion was subsequently adopted by the House. Meanwhile, Falana has cautioned the federal government against the militarisation of elections in the country. Falana’s warning followed what he described as the attendant violence perpetrated by members of the armed forces during the recent general election, describing it as “militarisation of election’’. He called on the federal
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PEACEFUL ELECTIONS ON THEIR MINDS...
L-R: The new Chief Security Officer to the President , Mr. Idris Kassim ; Director General, Department of State Services, Mr. Yusuf Magaji Bichi; and Chief Security Officer to the Vice President, Mr. Doyin Adetuberu, at the security meeting held at the Presidential Villa, Abuja ...yesterday GODWIN OMOIGUI
Ex-US Ambassador: Nigeria’s Presidential Poll Bad News for Democracy Former US Ambassador to Nigeria, John Campbell, has said the 2019 presidential election in the country has been bad news for democracy. Campbell, who also served as US Department of State Foreign Service Officer from 1975 to 2007,
said the election was “marred by historically low turnout and credible allegations of rigging”. In his election post-mortem for the Council on Foreign Relations in Washington, DC, Campbell, who has co-
authored a book on “Nigeria: What everyone needs to know,” also said Atiku Abubakar of the Peoples Democratic Party (PDP) is unlikely to win his electoral dispute in court. “Buhari’s margin of victory—some four million
votes—is so large that it is unlikely courts will overturn the result,” Campbell said. He also suggested that the elections were a step back from the 2015 presidential election, quoting Situation Room’s report on the election
CUPP Accuses APC of Plotting to Dethrone Sultan of Sokoto, Kano Emir The Coalition of United Political Parties (CUPP) has raised the alarm over an alleged plot by the All Progressives Congress (APC) to force Sultan of Sokoto and Emir of Kano out of their thrones if they win Saturday supplementary governorship election for refusing to be dragged into partisan politics of mobilising support for APC in their impossible task of winning Kano and Sokoto States. In a statement issued yesterday by
the opposition parties, the spokesman of the coalition, Imo Ugochinyere advised APC that any attempt to desecrate the sacred stools of the Caliphate and Kano Emirate like they did to Office of the Chief Justice of Nigeria (CJN) will be an act of playing with fire that will consume and burn both ends. CUPP urged Sokoto and Kano voters to come out en masse and vote and defend their votes in areas
where supplementary elections are holding or live to see the thrones of their forefathers desecrated like other national institutions . “Ganduje’s love for dollar bribe has murdered his political career and any move to rescue him with rigging will lead to a revolution in Kano that will not augur well for our national stability. APC is planning to unleash soldiers used in Rivers on Sokoto,
Kano and Bauchi to overrun the people and disrupt supplementary elections in remaining States. Kano, Sokoto and Bauchi are not like Rivers State, any rampage in those states will be resisted by the people like the 1983 Ondo peoples resistance to NPN rigging and will lead to a political revolution that will engulf those who stole the people’s mandate,” CUPP warned.
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
BEYOND BANNING BOEING 737
Sonnie Ekwowusi argues the need to put the aviation sector in order
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enultimate Sunday an Ethiopian Boeing 737 MAX 8 plane crashed in Addis Ababa killing all 157 passengers and crew on board. Many are yet to recover from the shock of the crash. Parents, relatives, family acquaintances and friends of the victims are still devastated. Here in Nigeria we are steeped in deep mourning too because two of our beloved sons- Prof. Pius Adesanmi and Ambassador Abiodun Bashualost their lives in the ill-fated flight. Consequently Nigeria has joined other countries in banning Boeing 737 MAX 8 plane from flying her air space. Beyond banning Boeing 737 from the Nigerian air space, the Nigerian aviation industry needs urgent overhauling. Flying in Nigeria is flying in tears. The first major post-independence plane crash in Nigeria occurred in 1969. The plane was a Vickers VC-10 operated by Nigeria Airways. All the 87 passengers and crew on board died. Since that fatal crash, experts have been ascribing the causes of well over 54 plane crashes in Nigeria to human error/negligence, pilot error, wind wear, non-functional radar, over-age aircraft, poor maintenance of aircraft, lack of infrastructure, poorly maintained runway and communication equipment and prolonged delay in responding to distress. In January 1973, 176 passengers died after Boeing 707 chartered by Nigeria Airways which was flying pilgrims from Jeddah to Lagos crashed in Kano. On November 28, 1983, Nigeria Airways F28-1000 crashed at Emene, Enugu, killing 53 passengers including Dr (Mrs) Uche Offiah Nwali (33 years old) and her six children and the first daughter of Chief C. C. Onoh. On 26 September 1992 a Nigerian Air Force Lockheed C-130H Hercules crashed three minutes after take-off from Lagos, killing all 159 passengers on board including eight foreign nationals. In September 1992 a Lockheed C-130 Hercules operated by the Nigerian Air force crashed near Lagos killing all 158 passengers on board. On 7th November 1996 an ADC Boeing 727-231 plane carrying 134 passengers and 10 crew which was descending into Lagos suddenly lost control at Itoikin/Ejinrin near Epe, Lagos at about 5:17pm and killing all passengers and crew on board. In May 2002 72 passengers died after a BAC 1-11 jet making its way from Jos to Lagos, crashed shortly after taking off from Kano airport. On October 22, 2005, a Bellview Boeing 737-200 plane crashed near Lagos killing all 117 passengers on board. Three months after, precisely on 10th December 2005, a Sosoliso DC-9 aircraft carrying 110 passengers on board including 62 students of the Loyola Jesuit College, Abuja, crashed in Port Harcourt. About 103 people died in the crash. Immediately after the crash, seven surviving passengers including effervescence pastor Bimbo Odukoya who survived the crash were rushed to hospitals, but only two passengers later recovered. Pastor Odukoya died on 11th December 2005. On October 29th, 2006 an ADC plane carrying about 100 passengers from Lagos to Sokoto crashed and killed, among others the then Sultan of Sokoto and President General of Nigeria’s Supreme Council for Islamic Affairs, Alhaji Muhammadu Maccido, Sokoto State Deputy Governor, Alhaji Garba Mohammed;
ADEQUATE SAFETY MEASURES MUST BE PUT IN PLACE AT OUR AIRPORTS TO AVERT PLANE DISASTERS IN NIGERIA
two senators, Sule Yari Gandi and Badamasi Maccido and Emmanuel Nworgu, my good friend. I must confess again that I am saddened by Emma’s death. Emma was accustomed to travelling to Sokoto once or twice a year for business. It was in one of those business trips that he met his death after the ADC plane crashed shortly after it took off. Then on June 3, 2012 we witnessed the Dana Air plane disaster. The disaster occurred at Iju-Ishaga area of Lagos and claimed the lives of all 147 passengers and six crew members on board including ebullient intellectual Dr. Ike Abugu and Mrs. Chinwe Dike, our former classmate at the Law Faculty, University of Nigeria. Therefore adequate safety measures must be put in place at our airports to avert plane disasters in Nigeria. We don’t have to wait for another plane crash before putting in place adequate aviation measures. Anything goes at our airports. Flights are delayed or cancelled with impunity. The planes are operated like Lagos “molues�. No sooner had a plane taxied to a stop at the runway than it is immediately “loaded� with passengers and signaled to fly off without any thorough checks as required by international aviation servicing and checking standards. Depending on the passengers waiting at the airport, a plane originally scheduled to fly to Lagos, for instance, can be switched with another flying to Kano. Passengers are frequently switched from one plane to the other. Cases have been reported of side doors of some planes trying to fall off while the planes were airborne. There are also reported cases of plane tyres refusing to come out when the planes were about to land. The impression one gets is that the airlines are so desperate to maximize their profits that they care less about the safety of passengers. They pick up passengers at random from one local airport to another. The air-conditioners on many planes are out of order. All these are compromises in international aviation standards capable of causing major air mishaps. Therefore FAAN and NCAA must ensure that all the airlines operating in Nigeria must comply with the international aviation standards to guarantee safety of passengers. Regrettably the causes of the aforesaid plane crashes in Nigeria are mostly ascribed to human error/negligence, wind wear, non-functional radar, over-age aircraft, poor maintenance of aircraft and dereliction of duty. For instance, findings and investigations reveal that the fire that engulfed the ill-fated Sosoliso aircraft could not be immediately put out at the time of the crash because there was no water at the Port Harcourt International Airport where the crash occurred. There was also no electricity supply at the same airport for about six hours before the air crash. So, let there be water and uninterrupted electricity supply at our airports. Report also had it that the ill-fated Bellview aircraft was 24 years old while the Sosoliso DC-9 aircraft which crashed in Nigeria in 2005 was 32 years old. Likewise, the ADC aircraft that crashed in 2006 was said to be old. Three engines of the Nigerian Air Force Lockheed C-130H Hercules which crashed on 26 September 1992 were said have failed three minutes after it took off. Therefore all aircraft flying in Nigeria should be maintained regularly and any plane that is manifestly seen to be out of order should be grounded immediately.
WHY BUHARI IS NOT NIGERIA’S MESSIAH President Buhari does not have what it takes to lead the country out of the woods, argues IIiyasu Gadu
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ollowing his re-election for a second term in office, those who have always held the belief that President Muhammadu Buhari is Nigeria’s messiah have found added ammunition to further promote this view. The mammoth crowd that attended his campaign rallies all around the country no doubt points to his towering political status. In the election proper he garnered some 15 million plus votes to defeat his challenger Atiku Abubakar by a margin of over three million votes to spare. And yes, there are places in this country where he retains a fanatical following, such that any unflattering comment about him could earn the bearer of such views any number of unpalatable treatments in reaction. Yet despite all these for the ultimate good of mother Nigeria we must be brave and discerning enough to put in perspective what we know and have seen about President Buharis conduct of governance. This is especially relevant now as Nigerians have a lot of expectations from President Buhari as he begins his second term in office. In this regard, we must ask that beyond the claim to integrity and incorruptibility, can we really say that President Buhari ticks the right boxes to convince us that he is that Nigerian leader who we all expect to lead the country on the road to fulfilment of its potential? To properly answer this question we must
place Nigeria on the microscope in terms of what the country’s potentialities are and what is needed to realise this. All projections from various studies and sources agree that Nigeria has the potential to be among the top countries in the world in the foreseeable future. From the resources both human and material to the strategic position in Africa to the culture and diversity, the ingenuity and can do spirit and entrepreneurial abilities of the average Nigerian, the ingredients certainly are there. And going further it is projected that Nigeria is that bellweather country that can lead Africa and peoples of African descent the world over out of the doldrums of underdevelopment, racial profiling and discrimination and disregard from the other races of humankind. Of course to attain this desirable objective requires that Nigeria must be fundamentally transformed from what it is currently. And this can only happen under a leadership that comes with a grand strategic vision and action platforms. With the re-election of President Buhari, Nigerians have not only laid down the marker against misgovernance in the country, they have also signalled to their current and future leaders what they expect from them. The Buhari administration came on the wings of namely; tackling security challenges, cleaning up rot in government and diversifying the economy. While some progress have been recorded in these areas,
we cannot as yet realistically say this has been comprehensive and far reaching enough to launch Nigeria into the expected path to greatness. I attribute this to a lack of ability on President Buhari’s part to fit all these into one overarching strategic vision and to integrate Nigerians into adopting this vision as the ethos of our national life. If we need any further proof of the lack of this critical messianic element in President Buhari, it is in the way he has led his party, the All Progressive Congress (APC). The impression one gets is that President Buhari prefers to pursue his own political interests exclusive of the general interest of the party. Here again because he has not made the effort to build the party into a structured, disciplined and ideologically-driven movement. From bottom to the top the APC faces the distinct possibility of disintegration once he is out of the scene. The question to ask is: can a ruler without strategic vision who has not been able to effectively manage the party he leads transform a very complex country like Nigeria? In the four years of his second term mainly as a result of this observable flaw in President Buhari, his administration, party and the country itself will come under immense pressures. Those with an eye on the 2023 elections will seek to take control of the administration and party. Some perhaps seeing no accommodation within the party
will seek to realign with other aggrieved elements outside the party to mount challenges against opponents. As President Buhari will not be on the ballot in 2023, his allure and aura as a political force within the party and government will fade. Buhari himself as he is wont to do will distance himself from all that will be happening around because, give or take, he will see himself as being on the way out of party politics anyway having fulfilled his desire to rule. And because the party has not benefited from the necessary strategic vision that he as leader should have provided, the party will inevitably be under life threatening stress and strains. To those who entertain the thought that in President Buhari we have our Lee Kuan Yew or Paul Kagame, it is a forlorn and misguided hope. From what we see about the administration of President Buhari the only thing we can concede is that yes they have been able to stanch the haemorrhage and stabilize the patient. But going forward, the patient needs a surgical operation like yesterday. And the surgery can only be done by a fit for purpose surgeon with the commensurate skills. The expectations of Nigeria and Nigerians are too huge to be sated by puny, hesitant half measures. It is criminal and unacceptable to subject such a country with such endowments and potential to the level of deliberate underachievement that it has currently been subjected to by people who purport to be its leaders. Ilgad2009@gmail.com
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EDITORIAL MSMES And The CBN Intervention If well implemented, the CBN arrangement bodes well for the economy
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he recent plan by the Central Bank of Nigeria (CBN) to transform NIPOST into a microfinance bank with branches in all the 774 local government areas of the country, using NIRSAL as a platform is a move in the right direction. But it must be properly implemented if it is to achieve the desired results. What is not in doubt is that a country with over 37 million small businesses should not by any means ignore or look down on the almost limitless potentialities for inclusive and sustainable economic growth that could be harvested from Micro Small and Medium Enterprises (MSMEs). It is clear that conventional banks are not cut out for long term lending needed by MSMEs in the country. It is equally known that these banks are mostly comfortable to lend to short term business ventures as against startups which would need longer gestation period to pay back. Unfortunately, according to most estimates, fewer than five per cent of the MSME in Nigeria can access any form of funding THE MSME SECTOR support by way of CONSTITUTES loans or overdraft from financial institutions. THE SPINE OF ANY COUNTRY’S ECONOMY This is why the CBN intervention is very BECAUSE AS SMALL important. INDUSTRY OPERATORS, Launched in 2011 THEY WEATHER AND and incorporated in OVERCOME STIFF 2013 by the CBN, COMPETITION TO GROW the Bankers Committee and the AND KEEP JOBS FOR Federal Ministry of LOCALS Agriculture and Rural Development, NISRAL is the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending. It de-risks the agriculture value chain, and enables banks to lend to the sector at rates of between 7.5 and 10.5 per cent. Globally, the MSME sector constitutes the spine of any country’s economy because as small industry operators, they weather and overcome stiff competition from foreign operators to grow and keep jobs for locals. Furthermore,
the Small and Medium Enterprises Development of Nigeria (SMEDAN) has reported that MSMEs in the country currently represent 96 per cent of the businesses in the country and contribute 75 per cent of the national employment. This is therefore not a sector that can be ignored without dire consequences.
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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
ecognising that the CBN had in the past established numerous programmes to support the MSMEs but with very little to show for such efforts, the new measures should be practical and tailored to the needs of the MSMEs. Fortunately, what they need to survive, progress and deliver to the economy is not hidden. There are also lessons from past experiences to draw from. For instance, in August 2013, the CBN launched the Micro, Small and Medium Enterprises Development Fund (MSMEDF) with a share capital of N220 billion. The fund aims to enhance the access of MSMEs to financial services by channelling single-digit loans at nine per cent interest rate to them, through the Primary Finance Institutions (PFIs). When the intended end users could not access the facility, the National Collateral Registry (NCR) was introduced. Yet, the problem persists. Meanwhile, NIRSAL may have to examine its role against that of the Energising Economy Programme (EEP), a World Bank supported initiative which aims to provide clean electricity supplies in mini grid forms to industrial clusters and big markets across the country. Managed by a reconstituted Rural Electrification Agency (REA), the EEP has already started with pilot schemes in Ariaria Market in Aba – a market renowned for its industrial and commercial ingenuity; Sura Shopping Complex and Somolu Printing Complex in Lagos as well as the Sabon Gari Market in Kano. The CBN may also have to align the objectives of NIRSAL with that of the recently created Development Bank of Nigeria (DBN). This is to avoid duplication of efforts. We are also of the view that tax breaks as often offered to foreign dominated firms by the government should be extended to MSMEs, to at least provide them some grounds to stabilise.
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LIKE MOSES, LIKE OSINBAJO
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he nation of Israel was in slavery in Egypt for 400 years. God hearken to their cry for freedom by permitting Moses to assume leadership role in Egypt. On assuming leadership he got insight to the reasons he was raised to assume such position. It became clear to him that he was raised to emancipate Israel from captivity and colonialism. Based on this ground he undermines the political structure that brought him to power and choose to honour the will of God. The Scripture affirms that he choose to suffer affliction with his brethen than to enjoy the pleasure of Egypt. It was based on the decision to honour the will of God that Moses was recognized as a Great Man of God. Jesus affirms saying, he who is afraid of his life will loose it eventually. Obedience to the will of God amidst threat of death is the greatest demonstration of Faith in God. Son of Man, will Jesus describe you as a patriot of faith? Faith is the ability to choose the will of God at the expense of our life. Examples are Moses, Rahab, Daniel, Shedrach, Meshach and Abednego. Faith in God transcends our ability to observe the 10 commandments of God. Faith in God is human ability to choose the will of God in crisis moment. Son of Man, have you examined yourself or brainstormed on the reasons God made you to assume leadership role at this moment in Nigeria’s political history? It would be
disastrous if at the end God Almighty says, ‘’Get behind me you hypocrite’’. Your leadership decision making power alignment with the will of God is the compass judgment of God. The greatness of Nigeria is in your pendulum. But am afraid that your inability to understand that God brought you to power for a specific assignment have eroded the plan of God. You give more precedence to the political structure and God fathers who led you to power than the Almighty God who ordained you to power. You fear those who can kill only the body rather than the one who can kill both body and soul. God did not send you to power to complement political scores. But to emancipate the society from political gladiators and mediocrity. He ordained you to execute justice, peace and righteousness in our land. Unfortunately, justice has been perverted more in your reign, unrest and unrighteousness is on the increase in our land. Son of Man, your focus should be on how to please God and not your political father. Moses chose to please God rather than please King Pharoh. Are you pleasing God or the political structure? It is my desire you trade the path of Moses who undermined Egypt political structure and oppose the will of the king in order to fulfill the will of God and the will of the people. There is a proverbial statement which says the will of the people is the will of God. Choose the will of God rather than political party will. Pedro Ukokobili, Lagos
WHO IS NEXT SENATE PRESIDENT?
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ith the National Assembly elections over and the All Progressives Congress (APC) being in clear, though not absolute majority in the two chambers of the National Assembly, the next logical development that Nigerians expect is a smooth process of choosing the leaderships of both the Senate and the House of Representatives. This is imperative to avoid the sordid experience of the Eighth Senate where the President and the ruling APC did not state what the power sharing formula was, thus making it unclear which zone was getting what position, particularly in the National Assembly. Subsequent to that glaring failure, names began to drop, as is currently happening, about who was suitable for what leadership position in the National Assembly. Therefore, certain individuals with unbridled ambition started jockeying for the plum jobs of Senate President and Speaker of the House of Representatives. This sad state of affair ultimately created the incurable division in the ranks of legislators, a disunion that subsists up to today, notwithstanding the defection of Senate President Bukola Saraki and his associates to the opposition Peoples Democratic Party (PDP). In the course of that state of uncertainty which prevailed after the 2015 elections, some people, like a joke, started throwing up names of possible
occupants of the parliament’s top posts. And worse still, some people started dropping President Buhari’s name, claiming he had endorsed their ambitions. Regrettably, what is currently happening is a replica of what we went through in 2015. We have now seen that few days after elections, personalities like Senator Ahmad Lawan have taken to the podium, seeking to mount the National Assembly top posts even before the Independent National Electoral Commission (INEC) issued their certificates of return to them. In Senator Lawan’s case, for instance, he went to the extent of placing by proxy, advertisements in several newspapers to market his “candidacy”. Now, this is how the division starts. And only God knows where such will take the APC and the entire nation. With the experience of the ruling party under Saraki’s reign as Senate President, there is every need for the APC to pause and weigh the antecedents of those seeking to occupy the offices of President of the Senate and Speaker of the House of Representatives. Because, it won’t augur well for the party for fifth columnists to derail the laudable vision of the APC-led federal government for Nigeria, just to satisfy personal ambitions, particularly at this moment when President Buhari is on his final lap, and when Nigerians expect the APC to deliver much more than it has done in the first term. Nasirudeen Elelu, Abuja
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MIDWEEKPOLITICS
Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
NEWSMAKER
Poster Boy of Good Governance
Nseobong Okon-Ekong writes that Governor Ifeanyi Ugwuanyi of Enugu deploys deft political manoveures to win more friends without resorting to arm-twisting and violence
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nugu State appears to have a penchant for governors who love outlandish titles. In the recent history of the state, former Governor Chimaroke Nnamani, popularised the moniker, Ebeano. The nickname became an all-embodying statement and philosophy for all that is progressive and forward-looking. Ebeano was a movement that won many converts. Incidentally, the proponent of that philosophy has been rehabilitated in a deft political masterstroke that continues to win more admiration for the astuteness of Governor Ifeanyi Ugwuanyi of Enugu State. By helping to restore the Ebeano heritage, Ugwuanyi has not only stabilised himself on the shoulder of giants, he has also secured the collective goodwill commanded by acolytes of Ebeano. Through careful political balancing, Nnamani is back to reckoning in the affairs of Enugu, after being away for more than 10 years. The rehabilitation of Nnamani as a Senator in the 9th senate is one of the lasting achievements for which Ugwuanyi will be remembered. By this act, over 90 per cent of influential stakeholders in the polity of Enugu have been successfully reconciled to work in harmony with Ugwuanyi. While he has not been blowing his own trumpet, Ugwuanyi has subtly built the biggest network of political juggernauts that combines the strength of former governors Jim Nwobodo, Sullivan Chime and Nnamani. Without imposing himself on anyone, Ugwuanyi has deployed deft manoveures that has left opponents in awe of how he manages to win more friends without resorting to arm-twisting and violence, which appears to be the language of many governors, with security details and arms at their disposal. In the jostle for re-election in the recent national elections, Ugwuanyi was, arguably, the only governor in the South-east whose victory was predictable. While his counterparts struggled with integrity (and even identity) crisis, he trudged on confidently, mainly on account of his many achievements. Not surprisingly, he polled the highest number of votes in each of the 17 local government areas of the state and was returned to serve a second tenure. Indeed, Ugwuanyi is one of the poster boys of good governance in the current dispensation, making his party, the Peoples Democratic Party (PDP) very proud. The 2019 governorship result in Enugu State speaks volumes for the love the people have for Ugwuanyi. He polled a total of 449, 935 votes to defeat his closest rival, the candidate of the All Progressives Congress (APC) Sen. Ayogu Eze who polled a total of 10, 423 votes. One of the undisputable achievements of Ugwuanyi’s administration in Enugu State that must not be taken for granted is the enduring peace. Since the inception of his administration, the governor has made it clear that he abhors violence. At every turn, he has opted to work for harmonious existence which propels rapid development of any society. In the past four years, Enugu has continued to enjoy peace, which has engendered good governance, unprecedented socio-economic growth and security of lives and property - earning Enugu the enviable status of one of the most peaceful and secure states in the country. Once again, Enugu is steadily regaining its status as the leading city in the South-east and South-south. This culture of peace coupled with other sundry remarkable achievements in massive infrastructural development, especially in the rural areas,
Ugwuanyi
has attracted massive investment, helping Enugu to get back its pride of place. In recent times, no leader, East of the Niger, has gained a consensus of good opinion like Ugwuanyi. Most leaders of thought are in agreement in their commendation of the exemplary ideals of the Enugu State governor. The Spiritual Director of the Adoration Ministry Enugu Nigeria (AMEN), Rev. Fr. Ejike Mbaka, has consistently reiterated his unflinching support and endorsement of Ugwuanyi. Mbaka expressed delight with Gov. Ugwuanyi for entrenching peace and good governance in Enugu State, because “he is a good man; a man of peace; a perfect genius; humble and ever patient”. According to him, “I have never seen this kind of unquestionable, magnetic, pragmatic and dynamic peace in Enugu State before, because of one Gburugburu. Gov. Ugwuanyi has no enemy. He is a governor who has good relationship with the entire Nwodo family, Senator Fidel Okoro, Senator Ken Nnamani, Senator Jim Nwobodo, Dr. Chimaroke Nnamani and other leaders. Gburugburu is the ‘Messi’ in the field. During his maiden interaction with journalists on assumption of office in 2015, Ugwuanyi stated that his administration will work hard to maintain peace as a panacea for progress and rapid development of the state. The peace-loving governor pledged not to engage in any act that would undermine the relationship between his administration and the past ones vis-à-vis himself and past leaders of the state. According to him, “the era of new guard fighting the old guards in Enugu State is gone; my administration will not fight old guards to settle old scores. Where there is no peace, the people will not make meaningful progress.” Whereas, drums of war are beating in almost every state, Ugwuanyi’s readiness to run an inclusive government where all former governors and other leaders are accommodated irrespective of political
affiliation has made the difference in Enugu. According to him, “everybody is our friend and the era of politics of bitterness is over.” Born on March 20, 1964, Ugwuanyi, today, Wednesday, March 20, clocks 55. Sworn-in as the 3rd civilian governor of the new Enugu State on May 29, 2015, Ugwuanyi on Saturday, March 9, 2019 was overwhelmingly re-elected, in one of the most peaceful, transparent and credible elections in the history of the state. The most amazing aspect of the entire scenario was that the governor’s resounding victory in this month of March coincided with his 55th birthday anniversary, which calls for double celebrations in thanksgiving to God, for His mercies and kindness to a man of faith and goodwill. His overwhelming victory and that of all other candidates of the PDP in the state, did not come to many as a surprise, especially those who are informed about the political antecedents of Enugu State, as well as the governor ’s sterling performance and swelling popularity in the state. For instance, at the grand finale of the governor’s door-to-door campaign, held at Udenu Local Government Area headquarters ahead of the just concluded governorship and state assembly elections, some of these leaders eulogized him for entrenching peace, tranquility and good governance, in a manner that has never been experienced before in the history of the state. They described Gov. Ugwuanyi as a man of history, expressing delight that he has united everybody in the state, irrespective of political leaning. The leaders told him that the culture of peace and good governance he has entrenched in the state was unprecedented and will earn him a landslide victory at the polls. The party stalwarts added that his preelection adoption by 70 political parties in Enugu State as their consensus candidate was an affirmation that the governor has united everybody in the state. While Senator Ekweremadu disclosed
that “there is no bickering or quarrels among the political leaders in the state”, Senator Nwobodo, who described Gov. Ugwuanyi as a son thanked him “for bringing everybody together”. According to Senator Onuaguluchi, “Gov. Ugwuanyi has brought uncommon peace to the state” and “all of us have come to learn from Gburugburu (Ugwuanyi)”. Senator Okoro pointed out that “we have not seen his type before”, and Amb. Mrs. Eze joined others in urging the people to vote massively for him and other candidates of the PDP. Shortly after the March 9 election, which was adjudged the most peaceful, freest and credible by the Independent National Electoral Commission (INEC)-accredited local and foreign observers, 70 political parties, and leaders of the state, among others, the coalition of governorship candidates in the state led by Gerald Abonyi of Labour Party (LP) congratulated Gov. Ugwuanyi, expressed satisfaction with the outcome of the exercise and pledged to support his administration. Basking in the euphoria of the welldeserved victory, support groups and people from various Local Government Areas have continued to troop to the Government House, Enugu to equally congratulate the governor. Accepting the mandate, the governor stated that “this victory does not belong to me alone.” He disclosed that “it belongs to Ndi Enugu – our political leaders and other stakeholders irrespective of party affiliations; the market men and women, the barrow pushers, taxi and commercial bus drivers, ‘Okada’ and ‘Keke’ riders, petty traders, other artisans, town union and community leaders, the clergy, our revered traditional rulers, civil servants, the farmers, the professional class, youth and women groups, students and others who are the true heroes of our democracy”. He told the people of the state that he was “deeply humbled that you have, once again, invested your trust and faith in our team,” saying that it is now for him and his deputy and running mate, Mrs. Cecilia Ezeilo “to continue to work for you.” According to him, “I hereby reaffirm that we will continue to serve you with the fear of God, with humility and an unwavering commitment to improving the lives of our people and lifting the State to unprecedented heights of development and progress.” The governor also expressed gratitude to President Muhammadu Buhari for “his exemplary leadership and for providing the enabling environment that ensured the peaceful conduct of elections in our State.” He equally saluted the Independent National Electoral Commission (INEC) “for a job well done and for keeping alive the dream of a brighter democracy.” Extending his hand of fellowship to other contestants he added: “In truth, the victory is not a winner-takes-all. In our spirit of brotherhood, everyone is a winner. Therefore, I reach out my hand of friendship and partnership to my fellow contestants. I invite all of you to join hands with me so that together, we shall build a better Enugu State, to the glory of God. Re-committing himself to the service of God and the state, Gov. Ugwuanyi declared: “Now is the time to get back to work. We are inspired by the sacrifices and support of our people in renewing our mandate. I am confident that by the special grace of God and with your continuing cooperation and prayers, all things concerning Enugu State will continue to end in praise.”
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T H I S D AY ˾WEDNESDAY MARCH 20, 2019
ANALYSIS
In Imo, Ihedioha’sVictory Makes Clean Break from the Past
Amby Uneze writes that the prevailing prayer of the people of Imo State was for an undisputed winner in the first ballot of the governorship contest
Ihedioha (in his trademark green cap) acknowledging greetings from supporters
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any political pundits thought the 2019 governorship contest in Imo State will go the way of the previous elections. All the indications were there. The contestants were old war horses and very formidable, by all standards. It was not out of place, therefore, to predict that there may not be a clear-cut winner at the first ballot. Imo had established a pattern for re-run governorship elections since 2007. The tension and acrimony that usually follows this repeat ballot was not pleasant and the prevailing prayer was that an undisputed winner will emerge, this time. Such was the issue in 2007 when Ikedi Ohakim of PPA then had a re-run against Martin Agbaso of APGA. Again in 2011, Ohakim having changed political party loyalty to PDP went for another rerun against Rochas Okorocha, then of APGA. The election of 2015 which also was settled in a re-run involved the incoming governor of the state, Rt. Hon. Emeka Ihedioha of PDP and the outgoing governor, Chief Rochas Okorocha of APC. The menace of Inconclusive elections comes with bitterness and rancor, which of course, the governorship election of Saturday, March 9 settled, once and for all. To the entire Imolites, the election of Ihedioha as the governor-elect is the best thing that has happened to the people of the state, in recent times. In fact, to journalists, election monitors and observers that went round the nooks and crannies of the state adjudge the 2019 Imo Governorship/House of Assembly elections, it was the best since the advent of democracy in 1999. It is on this premise, perhaps, that the jubilation across the state by ecstatic Imo people filled the air. The assumption is that peace and tranquility may have been restored in the state. For the first time, since 1999, this election brought the people of the state together, even the opposition parties were overwhelmed and had no complaint expect to congratulate the winner of the governorship election. Granted that there were a few discordant tunes coming from the side of the outgoing governor and his son-in-law because they have some skeleton in their cupboard, such sentiments are not strange in politics. The fact remains that Imolites saw the opportunity to kick out government of ‘familiocracy,
iberiberism’ and autocratic system of governance which had been in operation for the past eight years and they do not want an offshoot or ‘third term under any disguise’. The champions of the successful 2019 governorship election in the state remain the National Chairman of Independent National Electoral Commissioner (INEC), Prof. Mammud Yakubu, Resident Electoral Commission (REC), Prof. Francis Ezeonu, the State Returning Officer, Prof. Francis Otunta, the security agencies, the PDP Agent at the State Collation centre, Hon. Uche Onyeagocha, and the teeming Imo electorate who made the mandate of the people prevail. Kudos also go to Professor Otunta, Vice Chancellor of Michael Okpara University of Agriculture. The same accolade goes to the INEC Resident Electoral Commissioner, Professor Francis Ezeonu, who is a highly respected scholar with integrity. These two gentlemen are abreast of the contents of the Nigeria Constitution and the Electoral Act (as Amended) and as such did not make a mistake in announcing the winner in the person of Rt. Hon. Emeka Ihedioha who met the constitutional requirements to be declared governor-elect. In a show of solidarity and expression of gratitude to God, the Imo State Advisory Council of Elders, a council made up astute gentlemen and ladies with diverse interests in all human endeavour such as retired legal luminaries, retired military and other security chiefs, former excellencies, former ministers, leading industrialists and frontline businessmen and retired politician, having found the 2019 governorship electoral process credible felicitated with Ihedioha on his historic victory in the keenly contested Imo State Governorship election. The Council also congratulated Imo citizens for turning out to vote and defending their votes. The victory, according the group recorded at the polls represented the victory over impunity, mal-administration, liberation from servitude, poverty, deterioration of moral and societal values for which Imo state was not known for. A congratulatory message signed by Prof. Francis Dike (SAN), Air Cmdr Luke Ochulor (Rtd), and Engr. Charles C. Ugwuh (former Minister of Industries) read in part, “This victory indeed amounts to a re-set for good governance, while we commend the
Ihedioha
INEC and the security agencies for their roles in ensuring a successful election in the State. In the same vein, the Forum of Owerri zone former governorship candidates has commended President Muhammad Buhari, the Independent Electoral Commission (INEC), security agencies and all Imo citizens for a peaceful elections. Spokesperson for the group, and former governorship candidate of Reform and Advancement Party (RAP), Mr. Kingdom Okere in an interview in Owerri thanked President Buhari for providing a level playing ground for a smooth governorship and House of Assembly elections in the state. He also eulogized INEC in Imo State led by the Resident Electoral Commissioner (REC), Prof Francis Ezeonu, the State Returning Officer, Prof. Francis Otunta, Vice Chancellor of Michael Okpara University of Agriculture, Umudike and all the head of the security agencies and their officers and men for championing a credible and transparent elections. Okere, however, commended Imo electorate for shunning desperation and greed politicians, whose interest was to continually put the state in a perpetual bondage, expressing confident in the governor-elect, Chief Emeka Ihedioha for having all it takes to rebuild the state. The Deputy Governor of Imo State, Prince Eze Madumere, showing confident in the electoral process that produced Ihedioha as the governor-elect congratulated the winner of 2019 Imo governorship Election, describing it as victory for the people of the state. His congratulatory message, “I heartily felicitate with you on your hard earned victory at the just concluded 2019 Imo governorship election. It is victory for Imo people and it is my victory and victory for many other patriotic Imolites who collectively made sacrifices to liberate the state from the hand of the oppressor and traducer of our people.” In the same vein, Forum of 2019 Governorship Candidates of Political Parties in Imo State also threw their full weight behind the governor-elect, Chief Emeka Ihedioha, stating that the governorship election held on Saturday, May 9, 2019 was the freest, fairest, and credible election in the state. They also endorsed the result of the election having witnessed and participated in the process and commended the electoral umpire, Independent Na-
tional Electoral Commission (INEC) and security agencies to have midwifed a more transparent electoral process in the state. The spokesperson of the group, Mr. Excel Nwaneri Ochiama of the Fresh Democratic Party noted that the winner of the governorship election, Ihedioha emerged through a transparent process which conformed with all constitutional requirements, the electoral Act (as Amended) and the INEC guidelines for the 2019 elections. “To us, politics is not a do or die affair. It is a democratic game where a winner and a loser must certainly emerge at the end. What anybody who is genuinely desirous of ensuring a better Imo should do now, is to team up with governor-elect, Ihedioha and key into his vision for our state. Making scathing remarks or indulging in subterranean conducts to undermine the will of the Imo people freely expressed on March 9, 2019 is most unfortunate and anti-progressive. “All candidates should jettison selfish interests and think of Imo first. Our state’s wellbeing is greater than any parochial interest. Aspiring for elective offices should be service-oriented and since Imo people have collectively reposed confidence in Chief Emeka Ihedioha to serve them, we ought to respect the people’s wish. No one can impose himself on the people because ‘nobody forces a servant on an unwilling master,” he stated. The forum also implored Senator Samuel Anyanwu to desist from engaging in an actions which tend to cast aspersion on his integrity as a person, urging him to stop working in concert with some persons to undermine the will of Imo people which is clearly expressed in Ihedioha’s election as the governor-elect. Some members of the group include Chris Mbanefo Ezuma (ANU), Bruno Chidiebere Oparaocha (APP), Edwin Chigozie Uche (AD), Chuks Edward Okonya (AGAP), Okere Kingdom Nnamdi (RAP), Chibuzor Abano (C4C), Marvin Igbokwe (NCMP), Tony Kelvin Obinna (NPM) and Chima Chukwudi (National Vice Chairman ADP). A prolific Nollywood actor, Chief Kanayo O. Kanayo said that the best thing that has happened to the people of the state was the rejection of Okorocha’s son-in-law, Uche Nwosu, while stressing that Ihedioha would remove the shameful past of the Okorocha administration.
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FEATURES
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325
Reinventing the Wheel of Change through Skills Acquisition In an attempt to bridge the unemployment gap, the Beni Lar Youth Empowerment Programme, in collaboration with the National Agency for Science Engineering Infrastructure recently empowered 40 youths with solar and auto mechanics skills. Kasim Sumaina writes
Hon. Lar (middle) with some of the beneďŹ ciaries
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t is said that no nation can attain it’s potentials or achieve its developmental strides without investing in its youth. As it is also often said, 'youths are the leaders of tomorrow' but, in a country where 40 per cent of its teeming youths are idle, doing virtually nothing, thereby involving in illicit drug abuse, election thuggery, cultism and prostitution, the future is blurry. To bridge the innovative gap in youth productivity and thereby making them gainfully employed, skills acquisition by whatever good means should be encouraged. Either through entrepreneurship skills development such as, tailoring, mechanical engineering, solar panels systems installations, and several others that will help take the youths off the street. In other climes, while youths are gainfully employed, being prepared for leadership in government, financial institutions, defense, medical field, religion and several meaningful venture, the reverse is the case in Nigeria. However, in recent times, skills acquisition in line with government's policy have been propagated by both public and private entities to help reduce the unemployment rate amongst teeming Nigerian youths. To ameliorate this trend, Beni Lar, Member, representing Lantang North and South Constituency in collaboration with National Agency for Science Engineering Infrastructure, organised a five-day training programme for 40 lucky youths, who were trained in different fields of renewable energy, specifically solar energy and auto mechanics. The move by Lar, is to help them become useful to themselves, their families and the society in general. Beni, the daughter of the late Solomon Lar, while speaking at the sidelines of the five-days event, held in Lantang North Local government area of Plateau State, noted that, one of the things that actually made her run for office was to ensure that she helped the youths to be productive in her community.
According to her, "I noticed that we have a lot of talented youths and some of them have dropped out of school. Some of them are educated but are not gainfully employed, they were just idling around the streets doing virtually nothing. I noticed that a lot of youths will come to my house in the morning, they will say, aunty; give me this, give me that. And I said, Why should I be giving you something when I can help you to use your hands become useful to yourself, your family and the society. So, after my first election, we started a youth empowerment programme. That is why you see we have a workshop. This is the first workshop we trained mechanics, radio technicians, TV technicians, carpenters, in conjunction with Industrial Training Fund (ITF) and the school of relevant technology. We trained about 150 youths between Lantang North and South. "And, all those youths, I made them write the Federal Government Labour Trade Test (FGLTT) to officially certified them as technicians around the country. Now many of them are gainfully employed as specialists in the police, some are in civil defence. They are all specialists now. So, I realised that, helping our youths through training and empowerment, is one of the best things you can do for this nation. “Therefore, it brought me to the idea of helping our youths who are naturally innovative, productive and who are already engaged in a skill to become more productive. So, what we did was, we looked at mechanics, artisans and I said, why don't I add value to what the mechanics, artisans and other entrepreneurs are doing in my community." Speaking further, she said: "I noticed that many people don't like to fix their cars in Lantang, because, maybe the mechanics are not so well equipped. But, today, as you can see, they have more knowledge. We contacted the society of mechanics and the artisans, they provided those that came for the training. So, I think it is very important that we continue with this training. What
is next is that, they have the basic tools to set up. Like now, you have seen a sample of how they install a solar panel, and they have a solar system working. "After these is for them to get into the market space. I think, like they said, they are independent and they can be independent on their own and can work anywhere. So, after this I think, further training, maybe if necessary and if they want to go on further, we will assist them. But, I feel it would be important for them to get the federal government labour trade test as well in the skills that they have." On Science and Technology funding, she said, "we know that funding of science and technology has improved significantly compared to when we first came on board, because the National Assembly intervened and made sure that for the government to improve the sector, they must match their words with action by increasing significantly the appropriation for science and technology. “That's why if you go round, all our agencies, you will see, first of all, they have more equipped offices and facilities and even, the facilities and the equipment for training, they have most of them. For instance, the Nigerian Building and Road Research Institute (NBRRI). When we first started, their workshop in Ota, Ogun State, was more or less not functioning, but, now; their workshop is functioning very well. "They are doing building schemes all around the country. They have examples of their building scheme here. They have road schemes, they are doing demonstration roads, erosion controls. Before we came, they were not doing erosion control but, the committee has pushed the federal government to make sure they expand government's involvement in science and technology. So, we still need more findings of course. We have a bill. We've already passed the bill and I think it's one of the bill awaiting assent from Mr. President. We've already passed the bill at the National Assembly.� Similarly, Managing Director, NASENI Solar Energy LTD, Dr. Jafaru O. Mahmud,
while speaking to the press shortly after the opening ceremony, said: "This event was initiated or its a collaboration between Hon. Beni Lar and the National Agency for Science Engineering Infrastructure (NASENI). It's a capacity building event in two parts. "One of it is on renewable energy, specifically solar energy, and other one is on auto mechanics. She has installed close to about 2000 street lights. We call them stand -alone and she felt that it would be good if there are local expertise that can be maintaining these things. And that will also take some of the youths off the streets and will help them generate income, and also protect the environment the more. She felt that NASENI has a renewable energy outfit, the Naseso engineering limited. "We have been the people coming to install some of the solar stand-alone street lights. Being encouraged by the performance of our facilites, she decided to call on us to collaborate so that we can the upgrading and preparing the youths to be able to stand alone as a vocation. That's one part of it." He added: "The other part is the discovery that the kind of cars that we use now are not the kind of cars we used to use in those days. Majority of the expertise we have, is through apprenticeship, from hand to hand, father to father's friend, to a neighbour and things like that. These ones were used to the old ways, where the man who is repairing Peugeot is not in tune with what happened with the Toyota or Honda. So, she also had the feelings that it would be good that they are updated. Now, you use electronic and computers to check what is disturbing the cars, so, she wanted an upgrade of that. "And NASENI, being endowed with these expertise, was ready to collaborate with her to upgrade the learning. So, in brief, that's what the programme is all about. So, we have 20 participants across the wards under her jurisdiction for renewable energy for solar and we have another 20 for auto mechanics.� On collaboration Mahmud said: "Like I mentioned, NASENI Solar Energy, for
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FEATURES
Ugwuanyi: Celebrating the Pragmatic Governor at 55 Samson Ezea
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ifty-Five years today, precisely March 20, 1965, a bouncing baby was born into the modest and cultured family of Mr David and Mrs Veronica Ugwuanyi, of Ohom Orba in the present Udenu Local Council Area of Enugu State. The male child, whowas delivered during the Lenten period was christened Lawrence and was also given Igbo name-Ifeanyichukwu, meaning Nothing Pass God; a name that is meaningful,philosophical, fulfilling and spiritual in all ramifications. A name that has lived with Ugwuanyi since then and has continued to manifest in all his endeavours till date. Just like his siblings, Gov. Ugwuanyi was brought up in a God fearing way, clothed with humility, taciturnity, intelligence, honesty and diligence.Growing among his peers, he shone like a star both in academic and extra-curricular activities during his primary, secondary, tertiary education and even in leadership positions. Gov. Ugwuanyi is endowed with exemplary leadership qualities that began to manifest early in his life as a secondary school student at the prestigious St. Theresa College, Nsukka. After his secondary education, he secured admission into theNigeria’s foremost university, University of Nigeria Nsukka (UNN) where he obtained a Bachelor of Science Degree in Finance and M.Sc. degree in Marketing majoring in Public Relations. In his quest for more knowledge and exposure, he moved further to acquire MBA degree in Finance and Accountancy from Enugu State University of Science and Technology (ESUT). While his colleagues were scrambling for white collar jobs, within and outside the country, Gov. Ugwuanyi, who had always believed and preferred working for his people and being with them picked job at Premier Brokers Limited, a prime insurance broking firm in the Southeast zone owned by five states of the zone and ACB bank. After years of excellent performance, he rose to become the Chief Executive Officer of the Premier Broking Firm. In 2002, he became the 16 president of the Rotary Club of Emene, Enugu. It was at this point that his exceptional philanthropy to the downtrodden and less privileged in the society came to public notice. Without hesitation and in appreciation of his rare
Gov. Ugwuanyi philanthropic gestures, the people of his town, in an elaborate traditional ceremony conferred on him the title of Dunu Gburugburu 1 of Orba, meaning the man of the people. Satisfied with his leadership exploits and track record in service, Gov. Ugwuanyi’s people beckoned on him to offer himself for political office. His foray in murky water of Nigerian politics commenced with his quest to become the chairman of his council area, Udenu. Despite losing the opportunity to political intrigues, Ugwuanyi remained undaunted and focused in his political pursuits, banking on God and his people’s support. In 2003, true to Ugwuanyi’s expectation and hope, the political opportunity came calling as he won the ticket of Peoples Democratic Party to contest for Igbo-Eze North/ Udenu Federal Constituency seat. He overwhelmingly won the election and his constituents enjoyed his representation. He was reelected in 2007 and 2011 making him the longest serving House of Representatives member in the whole of Enugu State, before 2015 elections. While in the House of Representatives, he moved so many motions and initiated some people-orientedbills. He also chaired and co-chaired some many committees,including Marine Transport committee he chaired for eight years. Because of his philanthropy, performance and antecedent, while in the House of Representatives for more than a decade, Ugwuanyi’s
desire to contest for Enugu State governorship seat on PDP platform received massive support and accolades across the state, with the exception of some few disgruntled elements in the party, who tried to play God, forgetting that it is Him that makes anyone king. Their move to thwart Ugwuanyi’s guber ambition failed them. Ugwuanyi won the election comfortably, but with his party, PDP’s loss of the presidency for the first time since 1999, he became the first governor of the state to be elected on opposition party platform. Notwithstanding, Gov. Ugwuanyi on assumption of office in the face of obvious daunting financial challenges in 2015,handed over the affairs of the state to God, who made his victoryand every other thing possible. He faced his job with utmost diligence, equanimity and God’s fear. Before anyone could say Jack Robison, Gov. Ugwuanyi and his team have quickly turned things around and set the state on the path of greatness to the amazement of many. The state, despite not being oil producing state or rank high in monthly federation allocation became a reference point in financial and human resources management, courtesy of Ugwuanyi’s prudence and transparency. Within a short period, Gov. Ugwuanyi by his leadership style which is result-driven, proved that leading a state without much resources is not a rocket science as some of his colleagues have Nigerians to believe. He became governor of many feats and firsts. His popularity soared and testimonies of his goodness and startling performance in office abound within and outside the state. Among the workers, pensioners, security agents, religious leaders, artisans, majority residents, visitors and others, Gov. Ugwuanyi’s government is popular and acceptable, because ofits good governance and people-oriented programmes. It was for this reason that four national dailies-The Sun, Independent, Vanguard and Leadership, independently found Gov. Ugwuanyiworthy of honour with different unprecedented awards at the same time, after painstaking assessments. Even in the face of remarkable performance in office and the myriad of accolades that have continued to trail it, Gov. Ugwuanyi was never carried away, rather he has remained humble and focused on his job. At the peak of his campaign for reelection, he personally
went to the grassroots to solicit for votes from traders in markets, artisans on the streets, and residents at their homes. Since his reelection on March 9, Gov. Ugwuanyi has also physically returned to the markets and streetswith his team to thank the voters for their support and at the same assured them of better days ahead with their support and prayers. The ease, peacefulness and massive votes of which Gov. Ugwuanyi was reelected for second term speak volume of his performance, popularity and acceptance by the people in the state. It is a clear indicator of the renewed confidence and trust the people had in him to steer the ship of the state in next four years. It has also shown that Gov. Ugwuanyi is not only at home with his people, he is accessible by them and of assistance to them in time of needs and wants. The coincidence of Gov. Ugwuanyi’s reelection, with that ofhis birthday and the Lenten period is an eloquent testimony of God’s presence in his life and plans for higher leadership responsibility for him in the years ahead. It is divine and a continuous fulfilment of God’s agenda in a good man’s life which no man or evil can stop. While it is expected that friends and well-wishers of the governor will roll out drums today to celebrate him amidst fanfare and razzmatazz, Gov. Ugwuanyiwill in his usual manner, philanthropy and religious belief celebrate it at orphanage homes with the orphans and less privileged, having directed his well-wishers and friends to take their gifts to the place. Low key celebration at orphanage homeshas been the governor’s way of celebrating his birthday for years now. He has not changed it and he is not changing it, knowing how God took him from grass to grace. His Excellency, birthday is a new start, a fresh beginning and a time to pursue new endeavours with new goals. Trudge on with confidence and confidence, you are a very special person to your people. May today and all your days be amazing, prosperous and fulfilling as you sincerely and selflessly serve humanity. True to your name Ifeanyichukwu, Nothing Will Pass God in your life.Hurray and many more rewarding years ahead, the indefatigable leader at 55. -Ezea, writes from Independence Layout, Enugu State.
Reinventing the Wheel of Change through Skills Acquisition example, we have been the people installing it. We have installed over 100 poles of solar power stand-alone street lights, some of them are around. So, this is not a new one. In fact, that is what encouraged her to continue with the collaboration. So, it is not new and we very keen about going forward with these and apart from the fact that, it is our core assignment on the solar side, it is also what we are passionate about in extending the goodies or that are related to solar energy, protecting the environment, creating jobs, putting the youths off the streets and removing them from unnecessary restiveness and all that." On addressing the epileptic power supply problem in the country, Mahmud said: "first, NASENI Solar Energy has tested the waters and we are present in every part of the chain. Our production has gone beyond mainly assembly of the solar PVs of the solar photo voltaic. So, we have also done installations and we are doing trainings. One of the things that brought us is training. So, we have been able to do for supermarkets, for the Head of Service, the minister and permanent secretary’s office of the Ministry of Science and Technology, individuals, homes and farms. From these experiences, we will tell you that solar works, not just for Nigeria but, it is an efficient way to escape these challenges of power." A female participant of the auto mechanic training, Deborah Langying, said: ''I am 23 years of age. I feel overwhelmed being involved in a programme like this. I really want to show my appreciation to Hon. Beni Lar for this empowerment. I actually achieved a lot of things here. I have been involved in auto mobile before now, but I am not really a trained mechanic. I honed
The trainees during one of the training sessions my skills from one of my uncle’s down the street. He has been the one training me four years now. “This programme has really enlightened me the more and I will like to advise the federal government to encourage us (mechanics) the more because, some of us didn't have the opportunity to go to school.�
On challenges faced as a roadside woman mechanic, she said: "Being a woman and a roadside mechanic, I have faced a lot of challenges because the moment they bring a car to the garrage, most of the people think that I cannot handle it. They feel if they leave me with the car, I cannot do it. I think that's the greatest challenge that
I face. I wish people can just come with their cars and test by themselves and see what I can do. "My message to other ladies out there is, go out there and work. Being idle will really push someone to do other things that will not encourage your life and will not encourage people around you.�
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5 ) * 4 % ": t WEDNESDAY, MARCH 20, 2019
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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB
A S
A T
REPO 17.42 % 16.33%
CALL 1-MONTH 3-MONTH
15.50% 14.25 % 15.38%
M A R C H S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE
Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08024557078, 08152447875
1 5 , 381.99% 1.03% 4.74%
2 0 1 9 S & P INDEX 1/4 TO DATE YEAR TO DATE
7.01% 7.01%
EXCHANGE RATE N306.85/1US DOLLAR* ĚŠ
Quick Takes Marriott Expands to Algeria
Marriott International has announced the opening of Four Points by Sheraton Setif in Algeria, in partnership with Prombati SPA owned by Mr. Rachid Khenfri. With 191 rooms the hotel is conveniently situated in the centre of the city, providing easy access to Setif’s new tram line and Setif International Airport just 20 minutes’ drive away.The modern hotel towers high above the city and is situated in one of the most desirable areas in Setif which is steeped in history and surrounded by national landmarks dating back to the Berber Kingdom and the Roman Empire. “FourPointsbySheratonSetifisMarriottInternational’sninthproperty inAlgeriaandagreatadditiontoourrapidlygrowingportfolioinNorth Africa. Situated in a prime area in the city centre the hotel oers the brand’srenownedcomfortablehospitalityexperiencethatmeetsthe needs of today’s modern traveler,â€? President and Managing Director, Middle East and Africa, Marriott International,â€? Alex Kyriakidis said. FourPointsbySheratonSetiffeatures191contemporaryandspacious rooms boasting spectacular views of the city, including 13 suites and inter-connecting rooms designed to suit the needs of families and large groups staying for an extended duration.The hotel oers the brand’s deďŹ ning touches including complimentary bottled water in all rooms, fast and freeWi-Fi throughout the hotel, and an energizing breakfast with fresh coee that helps guests start the day right.
Concerns over Cocoa
COURTESYVISIT
L-R:GeneralSecretary,RiskManagementAssociationofNigeria(RIMAN),Mr.AdesojiOlasoko;FirstVicePresident,Mr.KolawoleAjimoko;ManagingDirector/ CEO, Keystone Bank, Mr. Obeahon Ohiwerei; President, RIMAN, Mr. Magnus Nnoka; Executive Secretary, RIMAN, Mr. Victor Olannye and Chief Risk Officer, KeystoneBank,Mr.TijjaniAliyu,duringacourtesyvisitofRIMANexecutivestothebankinLagos‌recently
Emefiele: Strategic Approaches to Industrialisation Never Worked James Emejo in Abuja The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has responded to critics of the central bank’s intervention initiatives in the textile and garment industry, maintaining that contrary to suggestions, the adoption of strategic approaches towards industrialisation of the economy had never yielded positive results in the past. The CBN governor, who said this in response to the Director General, Lagos Chamber of Commerce and Industry (LCCI), Muda Yusuf, who had in a statement urged the Federal Government to reconsider the recent CBN ban of forex to textile importers and allow for strategic approaches, said allowing for continued importation, dumping as well as smuggling- as
ECONOMY insinuated by Yusuf, was not the best way out of the current situation. He said smuggling remained the greatest challenge to the country’s industrialisation, adding that nothing could be achieved unless it is tackled head on. The CBN governor was speaking during a stakeholders’ engagement on repositioning the oil palm value chain. He said: “Whereas, one will agree with his views on strategic approach but I begin to wonder what Muda means when he talks about strategic approaches. “In the past, the country had adopted what he calls a strategic approach, and that strategic approach to my understanding is that he says, “allow them to continue to import, let them
continue to dump, let them continue to smuggle into the country, they will build those factories and industries. “When we addressed this issue three weeks ago, I had said that at a time in this country, Nigeria had 180 textile mills. The cotton that was being used, the spins, were coming out of Nigeria, produced locally. “But we lost jobs, farmers lost jobs, cotton farmers lost jobs. “Companies are still there in the northern and other parts of the country. We had companies which were into these jean cutting into yarns- they are dead today. “From yarn, you go into weaving, those companies are dead today. Three weeks ago when we held a meeting, there were only 15 textile companies out of 180 in the 50s and 80s and 90s in this country.� He added: “Jobs have been lost
and that is why it is very important that we know that we cannot continue to be talking about the fact that there is unemployed in the country, whereas, we ignore an industry that used to be the largest employer of labour in the country after the agriculture sector. “Anybody that is interested in the progress of Nigeria should not allow this to continue because we need to create jobs for our people. “Now, the strategic approaches had never worked and I want anybody to quote me- it has never worked. “It has never worked because what is the policy we are talking about? Increased duty. Today, duty on textiles is 45 per cent. I have a data here that tells me that textiles officially imported into Nigeria in 2015 is $9 million. In 2016, $6.9 Continued on page 24
Trading in Fixed Income,Currency Market Rises 27% to N19trn Goddy Egene Trading in the fixed income and currency (FIC) market operated by FMDQ OTC Securities Exchange picked in February, recording a turnover of N19.18 trillion. This represented an increase of 27.2 per cent compared to the N15.08 trillion in January and 52.3 per cent a year ago. The Treasury Bills (T.bills) and Foreign Exchange (FX) market segments remained the major drivers of turnover in the FIC markets, jointly accounting for
ECONOMY 77.88 per cent of turnover. A breakdown of the transaction in FX market showed that turnover was $14.59 billion, representing a 20.6 per cent decrease from the turnover recorded in January. Also, a further analysis of FX turnover by trade type indicates a decline across all three segments, as FX turnover for Inter-member, Member-clients and MemberCBN trades declined by 11.61 per cent, 25.52 per cent and
11.59 per cent respectively. Conversely, turnover at the Investors & Exporters’ (I&E) FX Window in February recorded a 232 per cent increase to close at $9.96 billion, from the $3.00 billion recorded in January 2019. Analysis of FX turnover by product type showed a decline for both FX Spot and FX Derivatives, with FX Spot recording a decrease of 23.33 per cent and accounting for 70.44 per cent of the total decline in FX turnover. The decrease of 16.14 per cent in FX Derivatives was driven
by a 57.04 per cent decline in FX Futures turnover, despite increases in FX Swaps and FX Forwards turnover by 5.89 per cent and 0.99 per cent respectively. In February 2019, the naira appreciated against the dollar at the I&E FX Window and the parallel market, gaining N2.04 and N1 to close the month at $/ N360.99($/N363.03 in January) and $/N361.00 ($/N362.00 in January) respectively, driven by the increase in FX inflows
Abundant showers in most of Ivory Coast’s cocoa regions last week augured well for the April-to-September mid-crop, farmers said on Monday, despite concerns over below-average rainfall in the centre ofthecountry.IvoryCoast,theworld’stopcocoaproducer,isentering the rainy season, which runs from mid-March to late October. Farmers in the bush said harvests would pick up next month, and beans were already larger than this time last season. They also said the current mix of owers, small pods and cherelles promised a long mid-crop if rainfall remained constant. In the western region of Soubre, at the heart of the cocoa belt, farmers said moisture would help keep the mid-crop healthy. “The rain has been abundant for now. If it continues over the next two weeks, we will be rubbing our hands,â€? saidSalameKone,whofarmsnearSoubre. DatacollectedbyReuters showed rainfall in Soubre, including the regions of Sassandra and San Pedro, totalled 23 millimetres (mm) last week, 9.4 mm above the ďŹ ve-year average. Above-average rainfall was also reported in the southern regions of Agboville and Divo, and in the eastern region of Abengourou, where farmers were optimistic about the mid-crop. But in the centre-western region of Daloa, which produces a quarter of national output, farmers reported a lack of rainfall and high temperatures.
Sovereign Trust Hosts Golf Tournament
Sovereign Trust Insurance Plc has said it is set to host the seventh edition of its annual Open Golf Tournament. The company said this year’s edition of the tournament would hold at Ibadan, Oyo State. The event is scheduled to hold from March 22 – 24, 2019.The 3-day tournament is expected to bring together some of the country’s top golfers from dierent Golf Clubs in the country both at the amateur and professional levels in the male and female categories to be competed for. A statement by the Head Corporate Communications and Brand Management, of Sovereign Trust Insurance Mr. Segun Bankole, said the captain of Ibadan Golf Club, Mr. Olumide Oyediran, had expressed great appreciation to the Management of SovereignTrust Insurance for staying true to its promise of sponsoring the tournament on an annual basis. He said he was optimistic that this year’s tournament would be far thrilling and exciting than the last edition. He enjoined all golf enthusiasts across the country to make the ancient city the converging point during the 3-day tournament. According to him, “Sovereign Trust Insurance Plc has consistently been leading the pack amongst insurance companies in the country in promoting sporting activities at all levels,â€? as he urged more participation from other corporate organisationsinadvancingthegameofgolfandothersportsinorder to further enhance the human capacity in the burgeoning sports industry in the country.
“It is only when the economy is buoyant, that the people will be able to save, and that provides enough liquidity for banks to lend and fuel the economy. The other sub-sectors including the bureaux de change sector will equally be positively impacted y a thriving econom�
ABCON President,
Aminu Gwadabe Continued on page 24
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EMEFIELE: STRATEGIC APPROACHES TO INDUSTRIALISATION NEVER WORKED million, in 2017, $7 million and in 2018, $9.7 million. “Is that the quantity of textiles that came into Nigeria these years? My answer is no. And yet, people say they pay duty, my answer is no. Because if you pay duty, then we would not be having official data that places import of textile (legal) into the country at just about $9 million. “We need to confront dumpers and smugglers in this country and the sooner we do so, I think the better for our country. “What happens? You import 10 containers of textile, you declare only one container and you pay duty on one container and you say you want the locally produced textile to be competitive, they cannot be competitive. “Or you increase your duty on textile or any product for that matter that we say we want to encourage local production and then a neighbouring country brings down the duty, it is dumped and pass through our porous borders: your textile or that product can never be competitive. TRADING IN FIXED INCOME, CURRENCY MARKET RISES 27% TO N19TRN in the IEFW. Conversely, the CBN Official Spot rate depreciated by 10kobo to close at $/N306.85(from $/N306.75 recorded in January). Meanwhile, T.bills outstanding recorded an increase of N1.08 trillion to close at N16.10 trillion , with opening market operations (OMO) bills accounting for 100 per cent of the increase, while actual T.bills outstanding remained unchanged, as the CBN continued its liquidity mop up via OMO auctions to curtail build-up of inflationary pressure. Similarly, FGN Bonds increased by N0.26 trillion to close at N8.52 trillion as at February 28, 2019. Furthermore, the split in sovereign debt between long-and short-term debt as at February2019 was 76:24(long vs. short term), higher than the target ratio of 75:25 outlined in the Debt Management Strategy.
FG Seeks Speedy Completion of AbeokutaIbadan Rail Project Kasim Sumaina, Sunday Okobi and Oluchi Chibuzor The federal government has directed the company in charge of the construction of the Lagos-Ibadan rail project, the China Civil Engineering Construction Corporation (CCECC), to immediately return to site to complete the Abeokuta-Ibadan section of the project before May, 2019. The government, through the Minister of Transportation, Mr. Chibuike Rotimi Amaechi, gave the directive during the monthly inspection tour of the project at Ologueru, Ibadan, Oyo State, recently. Amaechi, while speaking to journalists shortly after the inspection of the project, said: “We are ordering the company to return to site now that elections were over. “They said because of the elections, most of them left the country and they are just returning, so they will need increase the speed of their as they have resumed. “It is company procedure for them to leave if there is any where they are doing jobs and there are elections. So, they will like to go back to their country and come back after elections.� On the completion of the entire project, Amaechi said: “Don’t forget that these are phased projects and we decided to start from Ebute Metta which is phase one of the project to Ibadan. “The phase two is a completely new contract which is from Ebute Metta to Apapa sea port. It wasn’t there before; it
was just recently awarded by this government. So, let them finish from Ebute Metta to Ibadan then we can continue from Ebute Metta to Apapa.� Speaking further, the minister said: “The most important update on the project now is that they should go back to site. There are places that you can see they are doing civil works and we are pushing now that they must complete civil works before the rains and they have promised that by the time we come on the 28th of March, they would have gone far with these civil works. “Some areas they will complete to what they call MC1
level before they lay the tracks. “They’ve promised that by March 28, they should be able to get to Kilometre 95 in track laying. We are pushing so that by the first to second week in April, they should be very very close to Ibadan with track laying.� Amaechi revealed that, “equipment has always been an issue, because it is about gangs. Some gangs don’t have enough equipment. “If you see kilometres 75 to kilometres 120, you will see that there are gaps and these are the gaps we want them to fill so that we can get to Kilometre 95 and they promised that we can get to Kilometres 95 with track
laying but they can’t guarantee up to Kilometer 120. “But what is important is that if they get to Kilometres 120 with the formation, then we can be sure that before the first week in April we should be able to get there with track laying as 120 to Ibadan is barely 36 kilometres,� he said. Continuing, he noted that, “there were a lot of new things we didn’t foresee but we met them in the course of construction, and we will go to cabinet meeting to seek approval.� On the suspension of the three-month free train ride to passengers on the completed section of the Lagos-Abeokuta
axis, Amaechi apologised to Nigerians, noting that “it was suspended by the Chinese when they left, and the excuse they gave was that they cannot allow it run because of safety “Since they have not completed the second line which you have seen that they have nearly completed the second line from nearly Iju to Abeokuta and after that I will insist that they resume because we promised Nigerians and I want to apologise to Nigerians that they had to stop when they left the country because of elections. I didn’t envisage and now I think they should go back to site,� he said.
STRENGTHENING PARTNERSHIP
L-R: Managing Director, Ecobank Nigeria, Patrick Akinwuntan; President, ECOWAS, Jean-Claude Kassi Brou; Commissioner of Finance, ECOWAS, Mrs Halima Ahmed and Executive Director, Corporate Banking, Ecobank Nigeria, Akin Dada, during Ecobank’s management team visit to ECOWAS office in Abuja‌recently
Shell: Deterioration in Business Environment May Affect Our Nigerian Operations Chineme Okafor in Abuja The Royal Dutch oil firm, Shell, has said its operations in Nigeria’s oil industry could face adverse impacts if the business environment in Nigeria deteriorates. Shell which has considerable interests in Nigeria’s oil industry and operates mostly through its Nigerian arms – Shell Petroleum Development Company of Nigeria Limited (SPDC) and Shell Nigeria Exploration and Production Company
(SNEPCo), recently had to contend with issues about its operations in Nigeria including legal proceedings on its past transactions as well as recent claims by Nigerian government that it has backlogs of tax to pay for its operations in the country. In addition, the federal government also slammed some other international oil companies (IOCs) similar tax claims charges. But in its 2018 report obtained recently, Shell stated that: “A further erosion of the business
and operating environment in Nigeria could have a material adverse effect on us,� adding that: “In our Nigerian operations, we face various risks and adverse conditions.� The company listed the operational challenges it faces to include security issues surrounding the safety of its workers; host communities and operations; sabotage and theft; as well as ability to enforce existing contractual rights. Litigation; limited infrastructure; potential legislation that could increase its taxes or
costs of operations; the effect of lower oil and gas prices on the government budget; and regional instability created by militant activities, were also listed as parts of the challenges the company face. It explained in the report obtained by THISDAY that: “Any of these risks or adverse conditions could have a material adverse effect on our earnings, cash flows and financial condition. “Violations of anti-bribery, tax-evasion and anti-money laundering laws carry fines and
expose us and/or our employees to criminal sanctions, civil suits and ancillary consequences (such as debarment and the revocation of licences).� Referring to potential litigations pertaining SNEPCo’s interests in a controversial oil block – Oil Prospecting Lease 245, the company stated that it could have adverse effects on its operations as well. “Shell and its joint ventures and associates in the past have been fined for violations of the US Foreign Corrupt Practices Act.
market cut across all Lagosians irrespective of class. Explaining measures adopted by the company to guarantee safety of customers, he said: “We created a seal that covers every meal, and then we have an inscription on it which says: if this seal is broken, please inspect the order before accepting, or you reject the order. And then, for our riders, we’ve trained them for a very long time according to our core values, which is ‘Our Customers’ Satisfaction.’ “And because our delivery boxes are well-insulated, food
brought from the restaurants hot, will get to the buyer in the same temperature regardless of the distance.� He also provided a guide on the use of the app: “Very easy steps; you download the mobile app. You can find it in Google Playstore or IOS Store. You download the mobile app, register, find a list of all your favourite restaurants; you order, track and receive. “And then, for the parcel delivery side, you open the parcel delivery app, you see your pick-up location and your track location, you send it and that’s it.�
Doorstep Dispatch Services Firm Unveiled Group Business Editor
ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹
Peter Uzoho
Capital Market Editor
Doorstep Dispatch Services, a mobile app- driven platform for a seamless delivery of meals and parcels to customers upon request, has launched its operation. The dual service app which is currently available on Google Playstore and IOS Store seeks to surmount long delays people go through on traffic when going to eat at restaurants or pick-up parcels, by placing orders and tracking the delivery process using their mobile phones. Speaking during the unveiling ceremony in Lagos recently,
ÙÎÎã Ă‘Ă?Ă˜Ă? AgriBusiness/Industry Editor
Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor
Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent
Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents
Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Finance) ĂŒĂ?ĂœĂ? åÙÔÓ (Insurance) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ Ě™(Energy) Reporters
Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (ICT)
the Founder/Chief Executive Officer of Doorstep, Mr. Justin Eneonye, said the platform was created out of his desire to make a change in Nigeria using technology. Eneonye said: “I consider myself an enthusiastic person who gets fired up by solving problems using creative ways and I can tell you that for the past couple of months nothing has gotten me more excited than creating this product, delivering it and letting you know how to enjoy it. “It’s a simple mobile application which revolutionises the way people order take-out
food in restaurants such that if you live in Ikoyi, and you want to have a taste of Iwa cum sandwich from the new Ikeja Restaurant, Doorstep will deliver it to you at your door step. “While similar food apps like this may exist, we believe Doorstep has the most user friendly interface. One of our favourite features is the ability to track the order in real-time including process time and delivery time.� He said the company was into partnership with over 50 quality restaurants in Lagos, and that Doorstep’s major target
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Avon HMO Partners Lagos on Healthcare The Managing Director/ Chief Executive Officer of Avon Healthcare Limited, a Health Maintenance Company (HMO), Adesimbo Ukiri, has commended the Lagos State Government for partnering with privately owned HMOs to administer the recently launched Lagos Health Insurance Scheme. A statement quoted Ukiri to have made the remark while speaking on behalf of the Health and Managed Care Association of Nigeria (HMCAN), during a special stakeholders’ meeting held between leading healthcare professionals in the country, and the governor-elect of Lagos, Babajide Sanwo-Olu. Ukiri said: “We are delighted that the Lagos State Health Insurance Scheme will run with Health Management Organisations as key partners in implementation. While we are aware of various previous discussions around the role of HMOs in the healthcare delivery framework, we remain steadfast as integral stakeholders whose contributions are necessary in order to move the country progressively towards Universal Healthcare Coverage.� In commending the Lagos
State government for engaging all stakeholders to create awareness for the programme, Ukiri stated that HMOs were prepared to bring their experience in attracting individual and corporate sign-ups to boost adoption of the scheme. “In recent years, health management organisations like Avon HMO have had to build their customer base from scratch, relying on value delivered and customer service differentiation to endear themselves to the populace. “Nigerians do not easily part with money for services and products that are not immediately tangible and health insurance is no exception to this.� Ukiri, however mentioned that cultural aversion to health insurance was an issue that HMOs shouldn’t be left to confront alone if the Lagos health insurance scheme was to succeed. She stressed that the success of the scheme depends on the joint ability of all stakeholders to influence and change the perception and behaviour of Lagosians towards their healthcare spend and the need to stop paying out of pocket. “One area we’ve had to focus on at Avon HMO for instance is
in changing the mindset of people towards health insurance but this burden shouldn’t be borne by HMOs alone. “The Lagos State government’s commitment to carrying out widespread sensitisation and enlightenment programmes across the state is most welcome and we urge them to intensify efforts in this regard. This way, our combined activities will have a more significant impact on the people. “In addition, we must ensure that medical utilisation data collected from the scheme is robust, accurate and seamless across all touch points throughout the healthcare value chain. “Data is crucial to the growth of any healthcare system and is one of our shortcomings as a country. Thankfully, the Lagos State Government has assured all that it has taken steps on investing in the required I.T platform to make this possible.� Adesimbo also called on other states considering health insurance schemes to follow the example being set by the Lagos State Government in order for the country to actualise universal health coverage.
FCMB Restates Commitment to Healthy Living for Employees This year’s edition of the Employee Health Week of First City Monument Bank (FCMB) began on Monday, with an assurance by the bank that it will continue to promote healthy living and work life balance programmes for its employees. The week-long programme which runs till this Friday, is aimed at promoting the well-being and reducing the health risk factors of employees as well as their respective family members. The objective is to generate sustainability through several health and exciting activities that ultimately enhance productivity. It focuses on good nutrition, exercise and early detection of diseases such as diabetes, hypertension and high cholesterol, among others. A statement from the bank
explained that the highlights of this year’s FCMB Employee Health Week was free and comprehensive medical check-up for all staff, free mammograms for female employees to help detect early signs of cancer, counselling and tips on healthy eating and lifestyle, especially the importance of eating more fruits and vegetables. These would be carried out in partnership with a team of highly experienced nutrition experts, health coaches’, medical specialists and counselors, the statement explained. In addition, the financial institution disclosed that it has also scheduled a Family Fitness Day event in Lagos and its regional offices. This, it stated would bring together employees, their spouses and children who will engage
in various fitness and fun-filled fitness activities, including aerobics, stress relief therapies and other games. There would also be a healthy food cooking competition among staff of the bank. Speaking on the significance of the Employee Health Week, Divisional Head, Corporate Services of FCMB, Felicia Obozuwa, said it was one of the key initiatives of the bank, carefully designed to promote its great place to work philosophy. According to her, “because employees spend so much of their time in the office, mostly sitting at a desk, it is important to encourage a healthy lifestyle. “Healthier employees will have less frequent health issues. Working out and eating healthy relives stress, so ultimately the family is healthier and happier.
Law onYouth Development Fund Passed in Akwa Ibom Okon Bassey in Uyo The Youth Development Fund Bill aimed at creating jobs and evolves greater opportunities for youths in Akwa Ibom State has been passed into law by the State House of Assembly. In passing the bill into law, the Speaker of the State Assembly, Hon Onofiok Luke, lauded the Youth Alive Foundation and other youth groups in the state for proposing the bill with Hon Emmanuel Ekpenyong, as leadsponsor. The speaker said: “We told them in 2015 that we will always be on their side. There could not have been a better way to reflect that commitment to them other than to pass into law the bill to implement a sustainable youth policy framework.
“It has been a mark of honour on the sixth Assembly that in passing this bill, we have given verve to our economy to attract foreign direct investments into youth development ventures in our state.� Luke, equally expressed confident that the law would be a direct catalyst for economic growth of the state, and urged the people of the state to take advantage of the legislature to propose laws that could positively affect the generality of the people. “As the People’s Assembly, we have in the last couple of years presented this House as an instrument for positive exploitation by the people. “And the Youth Alive Foundation have utilised this avenue very exemplarily. I urge Akwa Ibom people to take
a cue from the example by these young Akwa Ibom people.� he added. In another development, the State House of Assembly has also ratified the Auditor General Report on the state Audited Account for 2017. The ratification of the audited account for the state followed the submission of the statement of account of the state for the 2017 fiscal year by the state Accountant General, through the Public Account Committee. This, according to the Speaker was in line with the provisions of Section 125 (5) (6) of the 1999 constitution of the Federal Republic of Nigeria. He said having considered the expenditure of government as captured in the report, the house had put a legislative seal on the state audited account for 2017.
ELEVATING TO THE NEXT LEVEL Marie-Therese Phido
An Unmitigated Reputational Damage The term reputation management always evokes negative emotions, because most times it always connotes that something bad has occurred. Boeing today, is going through a very rough patch managing the crisis that has happened with the recent Ethiopian Airlines crash after the Indonesian crash. Since the unfortunate incidence, the company has been more focused on managing its reputation which has sunk lower every day and continues to damage its brand equity. There are strong doubts on whether Boeing will regain its stellar reputation in the aviation sector. Boeing known to be the undisputed leader in the aviation market in recent years, with Airbus struggling to keep up is unikely to maintain its positioning in the industry. The consensus in the sector was that Boeing was arrogant and felt invincible to outside views or influences. “A belief in Boeing’s own invulnerability and a greed for ever-higher profits must have led Muilenburg (the CEO) to think that a simple phone call to President Trump would be enough to limit the damage. Passengers, pilots and crew members reacted indignantly, and thus Muilenburg’s phone call plunged the company even deeper into crisisâ€?. Boeing’s greatest mistake was that it did not take responsibility and own the situation, instead it allowed other organisations and countries to take the steps it should have taken first. China grounded the Max 737 8 aircrafts, several European countries did the same and Canada stopped it from flying across its airspace and also grounded the model. It was after all of these drama had taken place across the world that the US finally also grounded the aircraft, with President Trump making the announcement and not Boeing’s CEO. This was an unmitigated disaster in reputation marketing as customers and stakeholders were observing and making purchasing decisions now and for the future. According to Steve Olanski, “individuals and organisations need to note that stakeholders and consumers have immediate and total access to information at their fingertips, there’s a sea change afoot in how we think about our reputations, both personally and professionally. We must quickly control the conversation and impressions about our products and activities. Otherwise, our reputations would be at stake! Reputation, consisting of mentions, comments, recommendations and reviews across a buzzing, shape-shifting universe of online publishers and apps isn’t a problem center but a value center for brands and businesses. Increasingly, brands and business owners recognize this fact: every day, our reputations are bringing opportunities to our doors or diverting them to our competitors. In today’s environment, it’s no longer sufficient to think about reputation management like we think about crisis management. We need to think about our reputations as a constant, competitive advantage; a driver of growth and prosperity; and a strategic asset. We need to think about reputation marketingâ€?. How can you shift to reputational marketing versus management, Olanski suggests the following: The ďŹ rst is to focus on the highest impact What happens when you start thinking about your reputation the way you think about your marketing? Well, the first issue you confront is that as a marketing channel, reputation is an odd one. It’s not like any other. A brand’s or business’s reputation relies entirely on what others say (or don’t say) about it. The “voice of the customerâ€? is not something you can buy or control or will into existence. This concept is not new. For decades, marketers have tried to leverage customer
“word of mouthâ€? with mixed success. What is new, though, is the prevalence and power of word of mouth in the digital age: it is now amplified a hundred-fold. We know, you’ve heard this one before? “You have to be on social media! But this phenomenon goes beyond social media or even search engines and SEO. Online review sites like Google, Yelp, Amazon, TripAdvisor, Holler! Angie’s List, etc. have become beacons for consumers seeking to discover and evaluate companies, products and services. And, for better or worse, consumers trust what other consumers like themselves have to say more than they trust you, your ad writers or even the experts. Online reviews therefore have insane influence over consumers’ beliefs and behavior. Reviews determine not just whether a brand or business is visible in search engines and social media, but how people perceive it and whether or not they would buy from it. So if you want to start somewhere with reputation marketing, start with customer reviews: that’s where you’ll see immediately the power of devoting some attention to this channel. What Does Reputation Marketing Look Like? Monitoring: Know What Your Customers Are Saying. Keeping your finger on the pulse of customer reviews can be a challenge, especially when your brand or business footprint stretches across dozens of online review sites. But given the stakes of the game, marketers and business owners absolutely must know what’s being said about their business in online reviews. Why? Because those reviews are being voraciously consumed by potential customers at the very moment of their highest purchase intent, directly alongside reviews of your competitors. Acquisition: Get More Reviews. Getting positive online reviews is a challenge for every business. Ideally, we’d have passionate and engaged customers who would sing our praises without our prompting. But reality is, well, reality — it sometimes stands in our way. Ask happy customers why they didn’t write a review of a business that deserved one and they’ll tell you: They didn’t think to do so, or they forgot to do so, or they just found the process too difficult. Each of these objections suggests an obvious counter-tactic: simply ask, remind and guide customers through the review process. In fact, these three things alone can be surprisingly effective as a review acquisition strategy in a “no duhâ€? kind of way. Try them and you’ll wonder why you haven’t been doing them all along. AmpliďŹ cation: Use Your Reviews In Your Sales and Marketing Funnels. While online review sites provide an important vector through which customers discover and evaluate a brand or business, “social proofâ€? is the broader force at work here. Why should consumers choose our product or service over a competitor ’s? Because it’s better. And how do they know that it’s better? Because a strong social signal confirms that it is better. Today, a reputation is one of the most valuable marketing assets a brand, indvidual or business can have. But too many marketers and business owners remain in the mindset of “managingâ€? our reputation, that is, we tend to it only if problems arise, like overconfident and arrogant Boeing. Let’s change this behavior.
Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)
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Access Bank Beats the Odds Amidst challenging operating environment, Access Bank recorded a growth of 58 per cent in profit after tax for the 2018 financial year, writes Goddy Egene
As at last Friday, five banks had announced their financial performance for the year ended December 31, 2018, and all of them posted improved bottom lines. An analysis of the performance showed that it was a challenging year given the fact some of the banks recorded marginal growth in profitability respectively. Despite the odds, Access Bank Plc reported a growth of 58 per cent growth in profit after tax (PAT), which is the best among the banks so far. Financial performance Details of the results showed that Access Bank Plc recorded gross earnings of N528.7 billion, indicating an increase of 15 per cent compared to N459.1 billion in 2017. Interest and non-interest income contributed 72 per cent and 26 per cent respectively. Specifically, interest Income grew by 19 per cent to N380.9 billion in 2018, from N319.9 billion in 2017, while non-interest income rose five per cent to N138 billion compared with N132 billion in 2017. Net impairment charges stood at N14.656 billion in 2018, which was 57 per cent better than the N34.466 billion in 2017. Consequently, profit before tax (PBT) was N103.2 billion, showing an increase of 32 per cent as against N78.2 billion in 2017. PAT jumped by 58 per cent to N95 billion, from N60.1 billion in 2017. Return on Average Equity (ROAE) stood at 19.0 per cent and a Return on Asset of 2.1 per cent in 2018. A further breakdown of the results showed that Access Bank had an asset base of N4.95 trillion as at December 31, 2018, up from N4.10 trillion in December 2017. Loans and advances increased to N2.14 trillion, from N2.06 trillion, while customer deposits increased by 14 per cent to N2.57 trillion in December 2018, from N2.25 trillion in December 2017. Capital Adequacy (CAR) remained adequateat20.8 per cent, taking into consideration the regulatory transitional arrangement of IFRS 9 implementation, just as its liquidity ratio improved from 47.2 per cent in 2017 to 50.9 per cent, which remained well above regulatory requirements. Non-performing loans (NPL) ratio stood at 2.5 per cent as at December 2018, which is an improvement compared with 4.8 per cent in 2017. Similarly, cost of risk decreased to 0.7 per cent in 2017, from 1.7 per cent in 2017. Based on the performance, the bank has
proposed a final dividend of 25 kobo per share bringing total dividend for the year to 50 kobo per share. CEO’s Comments Commenting on the results, Group Managing Director/CEO, Herbert Wigwe said: “2018 marked a significant year of progress for the bank amidst an unfavourable macro climate. The fundamental strength of our group was evident in the results as group earnings showed a 15 per cent increase to N528.7 billion from the prior year, whilst PBT grew to N103.2 billion by 32 per cent. The contribution of the bank’s subsidiaries to group profits grew 116 per cent to N27.9 billion, underlined by the effective implementation of our strategies.� He explained that as a testament of, “our robust risk management practices, we maintained stable asset quality, with NPL and cost of risk ratios of 2.5 per cent and 0.7 per cent respectively. Our capital and liquidity position remained above regulatory levels, further demonstrating the capacity of our balance sheet to cope with economic realities.�
The fundamental strength of our group was evident in the results as group earnings showed a 15 per cent increase to N528.7 billion from the prior year, whilst PBT grew to N103.2 billion by 32 per cent. The contribution of the bank’s subsidiaries to group proďŹ ts grew 116 per cent to N27.9 billion, underlined by the effective implementation of our strategies
Wigwe said in pursuit of Access Bank’s vision to be one of the leading banks in Nigeria, it took accelerated strides in the last quarter of the year towards achieving its overall retail strategy. “The merger with Diamond Bank will enable us to fully entrench ourselves in the retail market with a view to lowering our funding cost. This transaction is anticipated to be completed by April 2019, resulting in the creation of an enlarged, efficient and digitally led tier 1 retail banking franchise. “We made solid progress throughout 2018 in line with our 2018-2022 five-year strategy, and we remain committed to the achievement of our strategic imperatives going forward; as we continue to invest in our people and technology in order to improve operational efficiency and service touch points with earnings growth in 2019,� he said. Shareholders endorse merger Shareholders of Access Bank Plc and Diamond Bank Plc recently approved the merger of both banks while the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) have also given their final not to the business combination. Some of the shareholders, who spoke at the EGM hailed the merger. For instance, Mr. Adebayo Adeleke of Independent Shareholders Association (ISAN) commended the management of Access Bank for not short changing shareholders on the scheme of the merger. To the President, Trusted Shareholders’ Association of Nigeria (TSAN), Alhaji Muktar Muktar, “We thank Access Bank for saving us from Diamond Bank by giving us a good deal.� Founding National Coordinator, ISAN, Sir Sunny Nwosu, who also commended Access Bank for the merger, called for special dividend to cushion the effects of dilution on shareholders. Nwosu, said integration would not be a problem because Access Bank had managed similar situations in the past. Commenting on the endorsement by shareholders, Wigwe had said: “I am delighted that the shareholders of both companies share our vision and have supported this merger. The merger is about bringing together our complementary retail and corporate banking capabilities to create one of Nigeria’s leading Tier 1 banks.
“This accelerates our strategy of becoming a leading bank in Nigeria and Africa’s gateway to the world. This combination will create the largest retail bank in Africa by customer base and a very significant player in the Nigerian market – thereby creating more opportunities for our customers, colleagues and shareholders.� He said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale. “As a continental financial force, it is set to attract more opportunities such as trade finance from international partners seeking multinational lenders with local intelligence. Diamond Bank has formidable retail business with the largest retail customer base in Nigeria, over 17 million customers. Diamond Bank also has a track record of customer acquisition and low cost liabilities’ generation. The enlarged Access Bank will serve 27 million retail customers, almost double the number customers of any other bank in Nigeria and more than any other bank in Africa, “Wigwe said. Putting Customers first According to the banks, customers are at the heart of their decision to create one of Nigeria’s leading banks. And as part of the merger benefits, Diamond Bank recently introduced PayDay Loan to ease the financial burden of customers. PayDay Loan was originally an Access Bank Salary Advance Scheme that provides instant credit to its salaried customers and individuals whose salaries are processed through the electronic payment platform REMITA. As a result of the merger between Diamond Bank and Access Bank, the instant loan service has now been extended to Diamond Bank salary account holders. “Customers are at the heart of our decision to create one of Nigeria’s leading banks. The combination of Access Bank and Diamond Bank will result in real benefits and that is why we have introduced the PayDay Loan scheme to Diamond Bank customers. “Together, we will bring the power of banking to millions across Nigeria, focused on speed, service and security. We are determined to ensure that both Access Bank and Diamond Bank customers will experience no disruption to normal banking services while we join forces to create Nigeria and Africa’s largest retail bank by customers�. Executive Director, Personal Banking Division, Access Bank Plc. Victor Etuokwu, had explained.
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Ajibode: Diversification Urgently Required to Mitigate Shocks to FG’s Revenue The Head, Conglomerates and Industrials, Stanbic IBTC Bank Plc, Bolatito Ajibode, in this interview says diversifying the economy will significantly increase the use of cheaper, facilitate local consumption, reduce the reliance on imported products and drive exports. Obinna Chima presents the excerpts: Government has been talking about diversiďŹ cation now for quite some time. How much of this has impacted the local industries and will diversiďŹ cation allow sufďŹ cient supply for local consumption and exports at the same time? Nigerian oil earnings contribute 80 per cent to government revenue; hence we experience shocks every time there is global slump in oil price. Government needs to diversify its revenue to mitigate the concentration risk and susceptibility to commodity swing. This is already being vigorously pursued, going by recent efforts to increase tax base as well as grow other critical sectors of the economy that have direct impact on industries - agriculture and mining sectors. Industrial players typically suffer oil price impact considering that foreign inputs account for about 70 per cent of raw materials. Some of the key players have also embraced backward integration strategy by sourcing their major raw material inputs locally. We have witnessed this in food and beverages, where conglomerates and Large Local Corporates are supporting out-grower schemes to support farmers for their inputs. In paper and packaging, operators are recycling used cartons as against importing tons of craft paper from across the globe. In iron and steel, we have seen the entrance of other players recycling scrap metals to reinforced bars, angles and channels for construction. Lately, there has been keen interest and huge investment in iron ore mining and production of steel products. Simply put, industrial diversification is the use of cheaper production inputs, and being competitive to facilitate local consumption, consequently significantly reducing reliance on imported products and driving the export potentials of made-in-Nigeria goods. What are the likely beneďŹ ts in terms of foreign exchange generation? The first impact of diversification is foreign exchange savings through local sourcing of raw materials. When that happens, we will see a reduction in import bill for raw materials. Cost of production will reduce significantly; local companies will become competitive and will play in the world stage and begin to generate foreign exchange. Recently, at Mining Business Conference held in South Africa, you were quoted to have said that Nigeria is well positioned for a mining rush with high quality reserves in the global cost curve for most minerals and that due to the absence of majors, there exists a ďŹ rst mover advantage to access the high grade and low-cost reserves. Can you shed more light on this? Nigeria is currently at the mining jurisdiction stage like South Africa and Australia were decades ago. First movers have the opportunity of acquiring and prospecting acreages with tremendous potential. Is government taking advantage of opportunities in solid minerals in the country? The government has identified seven strategic minerals - gold, lead, zinc, bitumen, iron ore, coal and barites. In addition, there has been a lot of attention in lithium and nickel for battery production, because of growing interest in electric vehicles (EV) and clean energy. What is the sector’s current contribution to the GDP and what in your opinion is the real economic potential of the industry? According to the Government Sector Strategy document, mining accounts for 0.55 per cent of Gross Domestic Product. This is abysmal when compared to its contribution of about 18 per cent for South Africa; 25 per cent for DR Congo and 40 per cent for Botswana. The Government aims to improve the contribution to GDP to about three per cent ($27 billion) by
Ajibode
2025. To demonstrate the potential in just two minerals, out of forty-four (that is - Iron ore and Coal) using a production rate of two per cent and average commodity price, our reserves would have grown by $4.5 billion from the two commodities between 2015 and 2017, due to the lack of an active mining industry. What’s your opinion on the option of privatisation and liberalisation of the industry? Shouldn’t the government be considering privatising Ajaokuta for instance, to revive it and get it running at full capacity? Privatisation or liberalisation is typically the preferred option to drive efficiency of a government enterprise. I believe government is doing everything possible to revive and bring Ajaokuta back to life.
Simply put, industrial diversiďŹ cation is the use of cheaper production inputs, and being competitive to facilitate local consumption, consequently signiďŹ cantly reducing reliance on imported products and driving the export potentials of made-in-Nigeria goods
There’s been a remarkable improvement in accessing forex compared to a few years ago. What has been the experience for your clients? As you may know, Stanbic IBTC Nominees, our Investors services/custody business, controls about 50 per cent of nominees’ business in Nigeria. In the heat of foreign exchange scarcity in 2016, 2017 and 2018, our clients benefitted immensely from our access to foreign exchange. We not only met their needs within the bank, but also sold foreign exchange to other banks to meet their needs. The packaging sector is another thriving industry in Nigeria. How would you appraise the sector and how is Stanbic IBTC Bank playing in this space? The packaging sector is very resilient to economic cycles given 95% exposure to food and beverages industries. Opportunities for market growth are numerous due to a rising middle-class resulting in higher disposable income, increasing urbanisation giving rise to lifestyle changes towards wellness and convenience. All these have greatly influenced consumer preference. Stanbic IBTC had identified the sector as strategic to the FMCG multinational corporates and developed a value proposition to partner with the industry leaders across the key packaging segments - can, glass, metals and plastics. Our team has in-depth sector knowledge and the ability to partner with product partners across our full range of products, including corporate financing, Global Markets, treasury operations, wealth management, personal banking, capital market equity raising, Insurance, Trusteeship, and so on.
When you look across the banking sector, non-performing loans (NPLs) remain a major issue. Risk levels vary from sector to sector. How strong will you say your risk assessment framework is for your portfolio? Risk and Conduct is one of our strategic business drivers. We pride ourselves of doing the right business the right way and our clients have come to appreciate us for that. Whilst our risk framework is very robust and flexible to meet ever changing risk conditions, our Fitch rating is AAA. Can you give us an overview of the Industrials and Conglomerates business at Stanbic IBTC Bank? The Industrials and mining business in Stanbic IBTC is quite extensive. It is an arm of the business units in Corporate and Investment Banking that delivers comprehensive banking services to clients in diversified industries, for example – conglomerates, paper and packaging, automobile, maritime, aviation, logistics, chemicals, healthcare, iron and steel sectors. The team also manages real estate portfolio for the bank and lately, is responsible for developing the mining sector. We have built a leading franchise supporting our clients in maximising value in their businesses, through our specialised offerings and creative solutions in Global Market and Investment Banking. This has earned us the status of a trusted partner to our corporate clients from our diverse industries. Continued on page 28
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Understanding ExchangeTraded Funds Goddy Egene writes on the Exchange Traded Funds and their benefits to investors An Exchange Traded Fund (ETF) is a marketable security that passively tracks an underlying basket of assets such as stocks, currencies or bonds. Holders of ETFs are allocated units also called shares and are entitled to a proportion of the profits such as earned interest or dividend paid on the underlying assets. Assets tracked by ETFs are usually represented in an index which form the basis upon which the ETFS can be created. At its core, ETFs have many features similar to Mutual Funds (MFs). For example, an investor seeking exposure to banking stocks may buy units of an ETF tracking these stocks and each unit purchased represents the investor’s proportional interest in the pooled assets. Also, ETFs are generally managed by a fund manager for a fee as with mutual funds. However, unlike MFs, ETFs provide more flexibility and liquidity as they do not have a minimum purchase limit and can be sold directly in the market, provided there is a willing buyer. Also, ETFs provide investors with the opportunity to build standard portfolios with management fees significantly lower than those typical of actively managed Mutual Funds. Furthermore, the high level of transparency on both holdings and the investment strategy enable investors effortlessly evaluate an ETF’s potential returns and risks. On the contrary, Mutual Funds may offer more liquidity to investors during a period of market illiquidity, since the fund manager normally sets aside a certain percentage of the mutual fund as cash, to meet likely redemptions. Difference between ETFs and MFs ETFs are traded during trading day, while MFs trade at closing Net asset value (NAV). ETFs have lower operating expenses, while operating expenses of MFs vary. ETFs have no required investment minimum, while most MFs have investment minimums. ETFs are more tax efficient, while MFs are less tax efficient. Also, ETFs have no sales load, that is no extra fees on subscription, while MFs have sales load. ETFS do not retain cash to meet redemptions but MFs usually set aside cash to meet redemptions. How ETFs Work
while simultaneously selling units of the ETF. Alternatively, the AP can buy the ETF shares and sell the underlying components if the ETF market value gets too far below the NAV. Also, another use of the NAV is to compare the performance of other ETF funds, as well as for accounting purposes.
Funds from different individuals/corporates are pooled and invested to track an index. This may be a stock index, commodities, and fixed income assets among others. Units of an ETF are available to the investing public and may be bought and sold through brokers or by approaching the fund manager. ETFs are traded like common stock on an exchange and the price of an ETF fluctuates as it is bought and sold through brokers or by approaching the fund manager. Furthermore, ETFs are traded like common stock on an Exchange and the price of an ETF fluctuates as it is bought and sold. An ETF’s market price is the price at which units in the ETF can be bought or sold while the net asset value (NAV) represents the value of each unit’s portion of the Fund’s underlying assets and
cash at the end of the trading day. The NAV is determined by adding up the value of all assets in the fund, including cash, subtracting any liabilities and then dividing that value by the number of outstanding units. There may be differences between the market closing price for the ETF and the NAV. However, any deviation should be relatively minor due to the redemption mechanism used by ETFs which keeps an ETF’s market value and NAV value reasonably close. This redemption mechanism keeps the market price of an ETF and NAV in line as market value naturally changes during the trading day. If the market value gets too high compared to the NAV, a pre-appointed Authorised Participant (AP) steps in to buy the ETF’s underlying constituent components
BeneďŹ ts of ETFs Diversification: One of the benefits of the ETF is diversification. Prior to the growth of ETFs, it was expensive for retail investors to hold assets such as gold, emerging market bonds or alternative assets but ETFs have made most areas of the capital markets accessible for any investor with a brokerage account. Transparency: Another benefit is that transparency as ETF providers display their entire portfolios daily through their websites. Contrastingly, MFs, by law in Nigeria, are only required to report their portfolios quarterly. Hence, ETFs offer greater transparency. Liquidity: Since ETFs are exchange-traded they can easily be bought and sold in the secondary market throughout the trading day as opposed to MFs, where a Fund manager provides liquidity for redemptions in exchange for units from the investor, based on the day’s closing price. Lower average costs: When compared with MFs, ETFs offer lower costs. For example, capital gains taxes are generally lower for ETFs compared to traditional MFs due to the structure of each trade within the ETF. Immediate Dividends: Dividends paid on most open-ended ETFs are immediately reinvested back into the Fund while the time frame for reinvestment for traditional funds may vary. ETFs in Nigeria The pace of development of ETFs in the Nigerian market has been somewhat slow. ETFs were first introduced on the Nigerian Stock Exchange in 2012 with the launch of a commodity ETF, NewGold, tracking the global commodity price of gold as the underlying asset. Only eight ETFs are currently listed on the NSE and they account for less than 0.5 per cent of the NSE’s market capitalisation.
AJIBODE: DIVERSIFICATION URGENTLY REQUIRED TO MITIGATE SHOCKS TO FG’S REVENUE
Privatisation or liberalisation is typically the preferred option to drive efďŹ ciency of a government enterprise. I believe government is doing everything possible to revive and bring Ajaokuta back to life
What lessons can Nigeria learn from other African nations, especially countries where Standard Bank operates and where mining and solid mineral industry is at very advanced levels? Anyone would be right to describe Standard Bank as a mining bank, having supported mining activities in South Africa for over 100 years. Other African nations have leveraged on Standard Bank’s depth of knowledge in mining and Nigeria has a lot to benefit from the same. Thankfully, Stanbic IBTC is a member of Standard Bank, and therefore well positioned to provide the required support in this area. A few years ago, Stanbic IBTC organised an Iron and Steel session, seemingly a oneoff, since the initiative was not sustained. Any particular reason why the bank didn’t consolidate on this platform and are there other things Stanbic IBTC Bank is doing to stimulate the sector? Stanbic IBTC bank is a key player in the iron and steel sector. The initiative is primarily to discuss how to move the industry forward. Stanbic IBTC has been having strategic engagement with operators, supporting them. We are particularly keen to support the sector because there is a direct correlation between per capital consumption (PCC) of steel and national development. Nigerian PCC is 7.0kg compared to South Africa at 89kg. We can only experience real growth if we grow the sector that feeds other sectors – that is, grow construction, transport (automobile, maritime and aviation) oil and gas, white goods (refrigeration and electronics) and packaging. Over the years, Stanbic has been involved in projects like the malls; with the likes of Actis and a few other developers across the country. In spite of the prevailing economic challenges, more malls are still being developed to drive retail. How has the bank been able to rise above these challenges?
you manage, is the expertise resident within Stanbic IBTC or do you rely on Standard Bank to drive this segment? You are right to describe my portfolio (Industrials, Real Estate and Mining sectors) as being specialised. The portfolio is equally diverse, hence there are dependencies and supports from in-country specialists and Standard Bank. One of our strategic intents is client centricity; we not only meet the clients’ expectations, we do our best to surpass it. We therefore reach out to our product and sector specialists across Standard Bank group in South Africa, London, Beijing and New York to deliver bespoke products and services to our clients. Ajibode
Stanbic IBTC has supported and will continue to support development of malls and commercial real estates in Nigeria to bridge the huge gap. We have a strong Real Estate Finance team who are experienced in appraising and structuring a Real Estate project. The team collaborates with their counterparty in Standard Bank to deliver world-class malls and first class commercial properties across Lagos and Abuja. How many of these malls have Stanbic
IBTC Bank been involved with? We have our signature on major malls in Lagos and Abuja. In Lagos, we financed Ikeja City Mall, Novare Lekki Mall and Circle Mall Lekki, and also First Festival Mall in Amuwo Odofin. In Abuja, we sponsored developers of Apo Mall, Gateway Mall, Jabi Lake Mall and Central Office Park. Given the specialised nature of the segment you oversee and the type of clients
Why do you strongly believe that now is the best time to invest in Nigeria’s solid mineral industry? Nigeria has focused on the oil and gas industry for over 50 years and kept solid mineral under the radar, despite the mineralisation of Niger and Benue basins and deposit of over 40 solid minerals. The Nigerian minerals are of high grade and are just being explored in open pit. The production cost is comparatively low and investors can easily recoup their investment in medium term. Most importantly, the fiscal incentives are globally competitive.
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Promoting Financial Inclusion Nume Ekeghe writes on efforts towards promoting financial inclusion The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, at a recent financial literacy stakeholders’ conference, had expressed optimism that the central bank will achieve the 80 per cent financial inclusion target set by 2020. The CBN boss spoke at the stakeholders’ conference held in Abuja with the theme: “Implementing financial literacy and consumer protection to advance financial inclusion in Nigeria.� The federal government had in 2012 launched the National Financial Inclusion Strategy aimed at reducing the number of eligible adult Nigerians that are excluded from the formal financial system from 46.3 per cent to 20 per cent by the year 2020. With less than two years to go, recent data released by Enhancing Financial Innovative and Access (EFiNA) indicated that 36.6 million eligible Nigerian adults representing 36.8 per cent of Nigeria’s population, still do not have access to financial services. This development, according to Emefiele, underscores the need to work harder on the exclusion rate from this year. To achieve the 2020 financial inclusion target, the CBN governor had unveiled four policy documents which were: the revised National Financial Inclusion Strategy; the Financial Literacy Framework; the Consumer Protection Framework and the Consumer Education Framework. The revised document developed with the support of Bill and Melinda Gates Foundation was principally prepared for banks and other financial institutions regulated by the CBN, but with extensive stakeholder consultation. It was the first of its kind, and it provides policy direction for the banking industry as well as serves as a guide for other sub-sectors of the financial system. The performance of banks as the most important leg in the stakeholder map to achieve the financial inclusion target cannot be over emphasised. Nigerian banks have been in the forefront supporting the central bank since 2012, jointly and individually, through various organs of mass communication. The banks have also made available different credit and funding options to small scale entrepreneurs and business owners, operating in the informal sector, in order to bring them into mainstream financial system. One area in which banks have made strides is in financial advocacy and literacy in which
the general banking public and students are taught about rudiments of finance. The belief is that where you have knowledge of finance, it leads to empowerment thus helping to make the right financial choices. In this aspect, Polaris Bank Limited, has been remarkable, strutting the length and breadth of Nigeria to promote financial inclusion. The bank has also employed interactive financial literacy sessions as a platform to empower students with money management skills in schools across the country. Giving an insight into the rationale behind the initiative, Managing Director/CEO of Polaris Bank, Mr. Tokunbo Abiru said; “This is one of our tactical approaches to entrench savings culture at an early age and ensuring an empowered life and a sustainable economy in line with CBN’s financial inclusion mandate.� “As a responsible corporate citizen, it behoves on us to do what is appropriate for the betterment of individuals and the society at large,� he added. Apart from the CEO, senior management and other categories of staff also
take students through the rudiments of saving, budgeting, planning and preventing identity theft, among other things. So far, the bank has organised interactive sessions on financial literacy in schools across seven states namely; Cross River, Akwa Ibom, Ebonyi, Zamfara, Oyo, Bauchi and Benue. The sessions were facilitated by 155 employees of the bank led by the Managing Director/CEO. At Offot Ukwa Secondary School, Calabar, Cross River State and four other schools in Akwa Ibom State namely; Uyo High School, Bright Future International School, Nigerian Christian Institute and Redemption Academy, the students took lessons on managing and saving money. To underscore the importance of the initiative, Abiru taught the students ways to be thrifty and start saving for the future, urging them not to spend all monetary gifts they get buying things, but rather learn to keep a part of it in the bank and watch it grow. In Ebonyi, the sessions with students held at Fountain of Knowledge International Schools,
Jesus is Lord International School, Great Minds Academy International School, Success Impact Academy and Our Lady Schools. In Zamfara State, students from Alhaq Academy, Gusau, SBMC Model School, Iman Global International Nursery/Primary School, Caliphate School and College of Education Staff School benefited. Students in Oyo State were not left out as sessions held at Rosebud College, Valencia College, Seed of Life College, Ogunsanya Girls Science Academy and Frontliners Primary and Secondary Schools. Overall, about 6,000 students have benefited from the training. Speaking with the students of Uyo High School, Abiru emphasised the importance of thrift and imbibing the culture of saving for the future. He advised that they should endeavour to be frugal and do more of savings. “You are not too young to start saving. The time to start is now so that it can become a habit that will stand you in good stead in the future. “You also need to be financially literate to avoid making poor financial decisions and to curtail the development of poor financial habits that can adversely affect you. “When visitors come to your house and give you money, don’t spend it on snacks. You should learn to save such monies,� he counselled. Explaining the bank’s outreach to the schools, the Head, Sustainability and Consumer Protection, Polaris Bank, Bola Adesanoye, said it was part of efforts of the bank to deepen financial literacy and inclusion, especially amongst students thus extending the frontiers of sustainability advocacy. “For instance, some adults are not financially literate, and they have been living with the consequences of this. We shouldn’t make the same mistakes some of our parents made by failing to inculcate the habit of saving in our young ones from an early age. “We want you to grow and become fully rounded adults with minimal financial issues, hence the decision by the bank to take on this responsibility of deepening financial literacy in you, our pupils,� she said. Aptly, it wasn’t just about talk; students that attended the sessions especially those that gave correct answers to quiz questions received educational gifts and cash incentives. “Happily, a sizeable number of the students joined the ranks of financially literate persons in the country at the end of the outreach.�
Creating Effective Organisational Boards Oluchi Chibuzor Organisers of the TEXEM Masterclass have said the forthcoming training will afford participants the opportunity to learn everything they need to know about how to create and manage effective organisational boards. World renowned Professor Andrew Chambers, would be sharing insights about how to develop and lead purpose-driven organisational boards at the training scheduled for April 10 and 11, 2019, at the Eko Hotel and Suites, Victoria Island, Lagos. Chambers started his career as an auditor and IT consultant with Arthur Andersen & Co, before moving on to run an internal audit function of a manufacturing company. He was the world’s first professor of internal auditing. He was awarded the IIA (UK)’s Distinguished Service Award (2008) and then the global IIA’s Bradford Cadmus Memorial Award ‘to honour individuals who have made the most significant contribution to the advancement of the internal audit profession “Few things in organisations are as important as well as well managed effective and efficient boards. But in a world that fast-changing technologies is the new normal, the composition, capacity and the role of organisational boards when optimised could be a veritable source of sustainable competitive advantage. “In many emerging economies like Nigeria characterised by volatile economic and regulatory ecosystem, limited infrastructure, weak institutions
and the high cost of operations, the structure, administration and strategies of boards have become even more complicated, critical and could actually make or mar the progress of organisations. “Volatilities increase risks and accentuate the role of boards for organisational success. “It’s critical for boards to enhance their capacity on how to provide strategic direction, optimise decisions to strike a balance between risk management and developing a culture of innovation as well as how to lead effectively to achieve profitable growth and excellent performance in this increasingly turbulent, uncertain, complex and ambiguous landscape,� Chambers said. According to him, to address the aforementioned imminent leadership challenges, the Executive Minds - TEXEM, the UK based leading executive education provider, invites executives for a two-day Master class on Creating and running prolific boards and directors. Chambers, Publisher of the Chambers Handbook of Governance, has delivered governance solutions in more than 60 countries across the world. “The course is designed for board members, chairpersons, director generals, executive secretaries, permanent secretaries and managing directors among others. “Secretaries of boards, Independent non-executive directors, general managers, chief human resource officers, chief financial officers, chief internal auditors or chief risk officers, regulators and standards setters, plus, general councils and entrepreneurs will also benefit from this training. “Specifically, participants will learn
how to address the challenges facing boards and develop a viable approach to impactful success,� Chambers added. Continuing, he said: “Are you a board director or member caught in the complex maze of changes, and not sure of the best step forward to create and manage a prolific board that makes a positive difference? Worry not. “TEXEM’s proven, cutting edge, Masterclass will transform you from a passive, less productive board into a better strategic thinking board leader ready to establish and maintain good governance practices.� On his part, the Chair of TEXEM, UK, Dr Alim Abubakre, said, “in this turbulent, challenging, dynamic and fast-paced operating landscape characterised by new risks and opportunities, good governance remains the bane of many Nigerian organisations success. “During this programme with Professor Andrew Chambers, former Dean of Cass Business School London, senior executives in Nigeria would learn how to clearly define the board’s purpose and move beyond compliance to value creation for all stakeholders�. Chambers said participants would learn from his successful career in creating and running vibrant boards, stimulating better board performance. He also said he would guide executives through the techniques that they need to develop and manage dynamic boards. Through group discussion, review of case studies and presentations, participants would learn about boards that have succeeded and those that have not and how to proactively
plan to prevent failure. The core objectives of the Masterclass, he added are, “Evolve with the best skills- You will learn to identify the right strategies to expand your roles beyond conventional governance. “Using real-life scenarios, you will develop insights into how to; develop a viable plan, manage risk, lead more effectively in crises, and engage stakeholders for value creation. “As a board director, you’ll leave ready to bring your ideas to life and help implement best practices that contribute to effective and efficient organisations.� In addition, participants would have the opportunity to get ahead with essential skills, Chambers said, saying, “the intention is to inspire participants with proven ways to re-engineer corporate governance in practice and to provide practical ‘toolkit’ advice on how to apply these state-of-the-art methods.� Others include pursue a learning path and networking “Networking and debating with other workshop participants will give valuable opportunities to identify the pitfalls and the strategies on how to resolve some of those challenges. “Furthermore, via this programme, participants are assured of bumper return of investment via enhanced social capital (which could lead to new business opportunities and strategic synergies) and steeper learning curve,� Chambers added.“TEXEM understands the skills board directors and members need to support the growth of boards. Therefore, the TEXEM Masterclass has been designed with both individuals and organisations in mind.
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Enforcing Building Insurance In this report, Ebere Nwoji writes on the need to enforce the law on building insurance in the country, following recent cases of building collapse The recent collapse of a three-storey building in the Ita-Faji area of Lagos Island Local Government, in which many people including school children lost their lives calls for enforcement of the compulsory building insurance laws, which implementation has been lying low over the years. Building insurance is one of the five compulsory insurances stipulated by insurance Act 2003, but has been far from implementation at both federal and state levels. When THISDAY visited the collapsed building site, it was discovered that the building had no insurance cover and none of the dead or injured victims had any form of insurance. Indeed, one of the land owners in the area told THISDAY that houses in the area have no insurance and that most landlords in the area have no knowledge of insurance. During the visit, many people were wailing and relating to members of the media, their sufferings and hopeless conditions. What was more worrisome was that some of the structures close to the collapsed building are also in deplorable conditions. Clearly, the Ita- Faji situation was just one out of many cases of building collapses that have happened in Lagos and other parts of the country in recent times. Barely three weeks ago, in Apo Mechanic village Abuja, a story building collapsed trapping six people and there was also another reported case in Ibadan, last week. In addition, in recent times, fire outbreaks in markets have become more frequent. Unfortunately, when these happen, with the exception of the Ita -Faji case where the Lagos State governor, Mr Akinwunmi Ambode, has promised to take care of the hospital bills of the victims, especially the school children, both the dead and surviving victims are often left to their fate. For the dead victims, their dependents are often left without any form of compensation mainly because in most cases, owners of the building run away for fear of facing the wrath of the law. Here in Nigeria, it is fast becoming the custom to expect government to take responsibility of certain things common knowledge should teach people to do to stay safe. For instance, government, after the 2012 flood that rendered many people homeless, had mandated that people who built their houses near canals and other flood passages should remove such houses and look for safer places, but till date, people are still living in such areas and have not cared or planned for the unexpected. Presently, people are still occupying houses with shaky foundations. Section 65 of the Insurance Act requires the owner or occupier of every public building to be insured against liability for loss or damage to property or death or bodily injury caused by collapse, fire, earthquake, storm or flood. The Act defines a public building as one to which members of the public have access for educational, recreational, medical and commercial purposes. The penalty for non-compliance is a maximum fine of N100,000 or one-year imprisonment or both. Also, Section 64 of same Act, stipulates that for insurance of buildings under construction, every owner or contractor of any building under construction with more than two floors must take an insurance policy to cover liability against construction risks caused by his negligence or that of his servants, agents or consultants which may result in death, bodily injury or property damage to workers on site or members of the public. This insurance policy also covers liability for collapse of buildings under construction. Failure to comply with this provision is an offence punishable with a fine of N250,000 or three years imprisonment or both. Despite these laws, house owners and owners of building under construction care less about insuring their houses. But insurers have stressed that this is not supposed to be as insurance firms are set up for the purpose of mitigating risks. According to them, if Nigerians can take insurance covers especially the compulsory
building insurance when there is collapse of this nature, insurance companies would be there to compensate the victims. To the President, Chartered Insurance Institute of Nigeria (CIIN) and Managing Director Consolidated Hallmark Insurance Plc, Eddie Efekoha, insurers are now focusing on retail insurance that covers individual policies like building, life, motor insurances as the corporate insurance has been saturated and over marketed. He urged insurers to look critically into retail insurance areas that take care for such policies, adding that there lies the future of insurance and safety of Nigerians and their assets. Few years back when cases of building collapses became more frequent, some state governments started enacting their compulsory building insurance. States such as Imo and Lagos states were at the fore front of this. The Lagos state government had commenced the enforcement of compulsory building insurance on owners of buildings across the state. It had also established a safety institute where stakeholders in construction work can be trained and certified to prevent frequent cases of collapse buildings in the state. The Director General of Lagos State Safety Commission, Hakeem Dickson, had said the state government would synergise with a consortium of insurance companies and the National Insurance Commission, (NAICOM) to achieve this. He was of the view that if residents in Lagos embraced building insurance policy, it would
Here in Nigeria, it is fast becoming the custom to expect government to take responsibility of certain things common knowledge should teach people to do to stay safe
save them from untold hardship, losses and the hopelessness associated with emergency situations. He also stressed that insurance companies have the financial capabilities to compensate and pay claims to victims of disasters than government. This decision by the state government then, was in line with long standing crusade by both the insurance industry regulator, NAICOM, the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA) and other stakeholders in the industry on enforcement of compulsory insurance nationwide. They have for many years been agitating for implementation of sections 64 and 65 of the 2003 insurance Act. Its enforcement waas been lying low until when NAICOM in collaboration with the industry operators kicked off campaign on the enforcement in the six geopolitical zones of the country. The expectation was that by now, everybody would have embraced this policy and a significant number of buildings in Nigeria covered by the insurance policy. NAICOM, precisely, in October 2017, had inaugurated a technical committee that would drive the enforcement of public building insurance in Nigeria. The committee was made up of representatives of NAICOM, the Federal Fire Service (FFS), representatives of states fire service from the six geo-political zones and the Nigeria Insurers Association (NIA). Since then nothing has been heard about the work or achievement of the committee. Attempt by THISDAY to find speak with the Deputy Commissioner for Insurance Technical, NAICOM, Mr Sunday Thomas, immediately the Ita- Faji building collapse occurred and the workings of the technical committee, proved abortive. But what is certain is that NAICOM itself and the insurers are no longer at ease with the long delay by the lawmakers in amending the insurance Act 2003. The 2003 insurance Act was enacted a year before the Pension Act 2004, but the Pension Act has been amended since 2014, while the Insurance Act 2003 before the lawmakers is still yet to be attended to. A former Managing Director of Niger Insurance Mr. Kola Adedeji, had said inadequate and ineffective framework for the insurance industry are challenges that must be tackled. According to him, insurance law makes provi-
sion for NAICOM as the regulator to enforce the insurance laws, but provides no means of enforcement. In the case of compulsory building insurance, there is no separate enactment for compulsory insurance of public buildings. He noted that this inadequate legal framework makes it completely difficult to enforce the provisions. Pointing out its other pitfalls, Adedeji said: “The policy is meant to cover legal liabilities of either owner or occupier at what point in time does the occupier have legal liabilities or insurable interest in the building he or she is occupying? “Despite these pitfalls, Lagos State government in 2017, took the bull by the horns to enforce the law by ensuring that owners of buildings in the state put in place insurance cover for the third party.� While some said it is a good development, others said what Lagos residents need is solution to problem of building collapses not compensation. They also feared that it would increase the cost of building in the state, which would in turn increase the already high cost of house rent in the state. Insurance industry observers argued that using the insurance operators for enforcement would not yield much result because the insurers had often said they were handicapped in enforcing the policy because they find it difficult going into any standing building or building under construction and to ask for insurance policy paper. The insurers have always wished the law enforcement agents would be assigned to act on their behalf. But the NIA Chairman Mr Tope Smart had before now said Nigerians should learn to be safety conscious and to be sincere to themselves especially in things that affect their lives like the building insurance. According to him, if a Nigerian can have money to erect five story buildings, the person was supposed to think about the safety of the workers. When THISDAY contacted to comment on the Ita-Faji collapsed building, he declined to comment. Industry analysts are of the opinion that prompt amendment of 2003 Act is the solution to the problem. They pointed out the N100,000 and N250,000 fine attached to violators of the compulsory building insurance should be reviewed.
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Heritage Bank Supports ICT Innovation Nume Ekeghe Heritage Bank Plc has charged applicants of HB Lab start-ups to support Nigeria’s aspiration and roadmap to become a leading Information Communication Technology (ICT) Hub in Africa. The Executive Director of the bank, Jude Monye, disclosed this at the launch of the maiden edition of the new innovation-driven concept, HB LAB in Lagos. Monye, in a statement commended the 10 teams of contestants who made it to the LAB, whilst charging them to replicate the Rwanda’s ICT digital tech system feats. He, however, canvassed for indigenous production of advanced technological systems, as against leaving the core job in the hands of foreigners. Addressing the applicants, Monye said, as usual, the financial powerhouse was known for supporting and sponsoring investment ideas that have the potency of challenging the status quo with the motive of impacting positively on the critical sectors of the nation’s economy. According to him, the management of Heritage Bank always seek viable business ideas that could compliment the fiscal policies of the government with the ultimate aim of growing and developing the aggregate economy. “At Heritage Bank, we help aspiring entrepreneurs to create, preserve and transfer wealth. What we are gathered here for today, is another moment of innovation-driven concept that is expected to provide start-up enterprises with enabling environment, resources and support required to innovate and accelerate impactful solutions for the economic development drives,� he said. For this maiden edition, Monye explained that Heritage Bank had
ceded the professional handling of the 12-week competition to a consultancy firm. According to him, this was done to allow for professionalism, fair-play and objectivity. He further stated that his management was not really particular about any sector of the economy, as the winner could emerge from any industry as long as his proposal is strong enough to impact positively on the various sectors. His words: “We are not zeroing in on any particular idea or industry; we are more interested in the result achievable in different sectors.� An application portal which was launched on the 31st January 2019 closed on the 14th February 2019. About 154 applicants who applied were reviewed 30 who made above average score and grouped into 10 Teams, whilst at the end of the 12 weeks programme will produce the best Tech start-up as a Team. Similarly, the Directorate Head, Service Bank/Chief Information Officer, Heritage Bank, Ike Williams, congratulated the participants who attended the programme. He said for them to scale the first hurdle, it showed that the quality of their proposals was higher than that of their counterparts who were screened out. He stated that the management of Heritage Bank and the consultants would be looking out for innovation, commitment, sincerity of purpose among other variables before any contestant could be picked as winner. Meanwhile, Williams assured them that even if they do not win, the experience they would have gained while they are on the programme will be useful for them in growing their enterprises.
Access, Diamond Celebrate Women Access Bank Plc and Diamond Bank Plc recently commemorated the International Women’s Day by hosting female entrepreneurs to a conference in Lagos. The event themed ‘Think W... Build Smart and Innovate,’ featured insightful sessions, as the speakers highlighted issues and solutions on how women can effectively leverage on technology and finance to build profitable and innovative businesses. While delivering the keynote speech, the CEO/ Group Managing Director of Access Bank, Herbert Wigwe said “Women, over the years, have continued to break boundaries, reinvent the status-quo and take advantage of the opportunities provided by technology and quality financial systems to make things better in the society. “This year, the International Women’s Day Conference, has been designed to educate women on how best to leverage innovations because we have come to the realization that female owned businesses also hold the key to the growth and stability of our economy� Wigwe said, “As a Bank, we are in full support of a genderbalanced society, this is why,
through our Access Bank W Initiative, we educate women through our capacity building and mentorship programs, to ensure that they build and sustain brands that are globally recognised. We also have funding opportunities that are tailor-made for women and their businesses.� This was followed by a goodwill message from the British Deputy High Commissioner to Nigeria, Laure Beaufils, as she advocated more support of female entrepreneurs and called for solidarity amongst women to facilitate gender parity. “It is commendable to see corporates step up to bridge the divide by providing women with platforms and education to help build successful businesses. Globally, women need to serve as support systems for one another and adopt a ‘Pull-HerUp’ mentality, as against pulling each other down. Only then can we achieve the balance that we seek,� she said. The event also featured two panel sessions, as the speakers provided insights into how female entrepreneurs can access investment opportunities, and build smart businesses using technology, product, and service differentiation.
AfreximbankProffersFactoringtoEaseAccess toFinancingforSMEs Peter Uzoho The African Export-Import Bank (Afreximbank) has made case for factoring as a viable and sustainable solution to address the challenge of access to financing which is hindering the growth of Africa’s small and medium-scale enterprises (SMEs). The Managing Director of the Intra-African Trade Initiative at Afreximbank, Kanayo Awani, said this during a factoring promotion conference held in Gaborone that factoring, a form of trade finance provided a solution to address the SME financing gap and would help innovative SMEs to grow and support Africa’s structural transformation and trade development. Awani, who noted that access to appropriate and affordable finance had been frequently cited as a major obstacle for SMEs, explained that factoring
was an important alternative to other trade financing sources, such as bank loans. Despite its huge opportunities, however, factoring had not yet taken off fully in Africa, with the region accounting for less than 1 per cent of global factoring volumes in 2017, Awani stated. “Notwithstanding that, the region had demonstrated strong growth in recent years, with factoring volumes growing from Euro 14.9 billion in 2009 to approximately Euro 22.3 billion in 2017, although most of those volumes were concentrated in South Africa, Tunisia, Morocco, Egypt, Mauritius and Kenya,� she said. She said Africa’s factoring volumes were projected to reach about Euro 200 billion by 2021, resulting mostly from new market entrants supported by the sustained economic growth; rapid rise of Africa’s middle class; emergence of innova-
tive industries supported by technological advancements; rapidly expanding trade and economic relations between Africa and major economies in the South; and increasing focus on regional integration and intra-regional trade under the African Continental Free Trade Agreement. Afreximbank had been playing a leading role in facilitating the growth of factoring in Africa through various interventions, including supporting the creation of a facilitative legal and regulatory environment for factoring; provision of finance and guarantees to factoring companies; provision of technical assistance; and formation of strategic partnerships to promote the development of factoring. The two-day Factoring Promotion Conference held under the theme “Domestic and International Factoring: Alternative tools for SME financing in Africa,� recently,
according to a statement was organised by Afreximbank and FCI, the global representative body for factoring and financing of open account domestic and international trade receivables. It had over 180 attendees and provided practical information and ideas about how to set up factoring activities and highlighted the importance of factoring in the development and promotion of SME financing. Topics covered included benefits and risks of factoring, mechanics of factoring, and legal aspects of factoring. It also provided networking opportunities for African factors, bankers, lawyers and others. The speakers included Emma Peloetletse, Accountant General of Botswana; Elaina Gonsalves, Deputy Secretary for Financial Policy of Botswana and Peter Mulroy, Secretary General of FCI. Awani is also Chairperson of the Africa Chapter of FCI.
ANNIVERSARY CELEBRATION
L-R: Head, Marketing/Corporate Communications, First Bank, Folake Ani- Mumuney; Managing Director, FBNQest Merchant Bank, Mr. Kayode Akinkugbe; Chief Executive OďŹƒcer, First Bank, Dr. Adesola Adeduntan; Group Executive, Commercial Banking Group, Mr. Seyi Oyefeso; Chairman, Mrs. Ibukun Awosika and Group Managing Director, FBN Holdings, Mr. UK Eke, at the First Bank’s 125km relay walk held to commemorate the bank’s 125th anniversary in Lagos‌recently ETOP UKUTT
Golden Sugar AfďŹ rms Commitment to Business Growth Jonathan Eze The Golden Sugar Company, one of the subsidiaries of Flour Mills of Nigeria, (FMN), the food and agro allied group, has reaffirmed commitment to the development of sugar value chain in Nigeria and in line with the federal government backward integration policy regarding the mandatory upstream operations requirement for sugar processing. Basking in the euphoria of winning the 2019 Global Food Safety Initiative (GFSI) awards in France, the company expressed its desire to continue setting the pace for more global recognitions and with consumers’ satisfaction as its goal. The Deputy Managing Director, Mr. Maniatis Ioannis John, also noted that the journey through the global market programme had been truly inspirational and rewarding. He said: ‘’We know that
sugar is enjoyed by millions of Nigerian families every day, so this is just one of the many initiatives that we have put in place to assure them of our commitment to quality and safe food for all.� John added that with an installed capacity to process 7,500 metric tonnes of sugar production per annum, the company is poised to take advantage of the backward integration programme. He said the industry must be properly incentivised to stay competitive. He further stated that smuggling of sugar into the country had affected the growth of sugar production along the value chain, given the challenges, there’s grappling of export and fall in price. Smuggling slows down the backward integration programme. The award, however, was in recognition of safety standards
and it intends to strengthen the diversity of food safety around the world from Africa, Asia, America and Europe. The key performance index reveals that GFSI reviewed benchmark for the assessment of food implementation, food defense, food assessment and the dangers of food fraud on consumers and end users. Chairman, of the GFSI Board, Mike Robach said: ‘’The global markets Award 2019 recognised the commitment of companies all over the world to their food safety journey.� He said, this year, the selection committee focused on the efforts and innovations the companies have made in creating an environment for food safety and a culture of continuous improvement. Addressing journalists during a factory tour in Lagos, the Quality Assurance Manager, Mrs. Veronica Kalu-Ufe, said the award is a motivation for hard work and a great task
to take the lead among other competitors in the industry. She reaffirmed that FMN is committed to maintaining the international regulatory standard for food safety. She added that Golden Sugar company started full operations in Nigeria market in 2012 and so far, 100 per cent of the packing materials have been locally sourced within the country thereby boosting the economies of local producers. Golden sugar Company acquired 100 per cent equity in Sunti Golden Sugar Estate Limited (SGSE) which was formally inaugurated by President Muhammadu Buhari. The investment in Nigeria, according to its management is a concrete example of FMN’s commitment to reduce sugar importation, increase Foreign direct investment, boost local capacity and reduce unemployment by putting thousands of Nigerians to work in the Agricultural sector.
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EDUCATION ‘Ita Faji Building Collapse, Failure of School Regulators’ The recent collapse of a three-storey building in Ita Faji area of Lagos Island, killing 20 people, including pupils of an unapproved school within the building, has sparked outrage among stakeholders who blamed the government for its failure to regulate the establishment of schools in the state. Funmi Ogundare reports
I
t was a tale of pain and anguish last Wednesday, as a three-storey building collapsed in Ita Faji area of Lagos Island killing 20 people, including pupils of Ohen Nursery and Primary School, which the building also housed. The building according to reports, caved in about 10am trapping most of the pupils in the process, when classes were going on. One of the victims was said to have told his mother that he would not go to school on that fateful day because it was his birthday, but she insisted that he must go to school. Unfortunately he was among those that died first in the building. Parents of children who lost their lives in the building wept uncontrollably as the children’s corpses were brought out from the rubble. Those who survived were taken to Lagos Island Massey Children Hospital for treatment. Governor Akinwunmi Ambode, who visited the scene of the collapsed building, commiserated with the families of the victims, while describing the incident as unfortunate. He said he had received information that the building was a residential one with the school operating illegally within the premises. He responded to the concern raised by a resident on the increase in illegal schools in the area, saying that all schools that fall within that category will be closed down. “We have been informed that it was a school; the building is not technically a school so to speak on the second floor, it was a residential building.� He added that most of the buildings in the area had been marked for demolition, but that some of the property owners in the area defy such notices, and promised that structural defective buildings would be demolished. Already, the Lagos State Building Control Agency (LASBCA) has commenced the sealing of schools located in unapproved buildings on Lagos Island, while officers of the Office of Education Quality Assurance (OEQA) have been mandated to go across the state from Monday, March 18 to identify unapproved schools with a view to closing them down. However, in recent times, not enough attention has been paid to the inspection of schools under the purview of the Office of Education Quality Assurance being coordinated by the Deputy Governor, Dr. Idiat Adebule, who also oversees education in Lagos. A reliable source and a stakeholder in the education sector confirmed to THISDAY that there are more than 14,000 unapproved schools in the state that thrive and government turns a blind eye on this because there is no political will to make decisions. According to the source, “this government does not like closing down schools. During the Mr. Babatunde Fashola-led administration when Mrs. Sarah Sosan oversaw education in the state, we could go out and close down schools, take pictures and immediately after closing down the schools, I will send the pictures to the commissioner. “So many schools were closed down for many reasons. Retrospectively if there were schools that got involved in examination malpractices, the worst case, we also shut them down, but this present government led by Adebule did more harm than good as some decisions take longer time because she oversees a lot of agencies.� He regretted that: “If we want to close down schools now, even after writing to her, it will take her almost three months or more before we get approval for the file we sent to her, but now that the disaster has happened, it is unfortunate. Government has not been proactive in taking decisions.� The source disclosed that evaluators have been asked to go round the state within the next two weeks and identify unapproved schools with a view to closing them down, while expressing concern that there has been no mobilisation of any sort from the government to enable them
Governor Akinwunmi Ambode at the scene of the incident
Adebule carry out their duty effectively. “If you are sending less than 300 officers to go out and identify unapproved schools without buses or mobilization, how possible is this? Alimosho Local Government Area alone is very big, how many officers are there to go round? In the whole of Mushin Local Government Area, there are 77 public primary and 30 secondary schools, not to talk of private schools. Both approved and nonapproved are not less than 2,000. Unfortunately, we have just six evaluators, can that few cover Mushin?� He also expressed concern about the few evaluators that are to go round Lagos Island, Epe, Ibeju Lekki and Eti-Osa, saying, “the number of evaluators is less than 30. Can they cover all of these areas with no running cost? Is it possible with no mobilisation of any sort? As a matter of fact, Adebule’s constituency, Ojo Local Government Area has the highest number of unapproved schools.� He said the Office of Education Quality Assurance is trying its best to identify the ramshackle schools and forward its reports to the commissioner, but most times there is delay in feedback. “We have a lot of public schools in Okota, the principals have written since 2017 about structural defects, but government has not done anything. When it collapses, they will start running helterskelter. There has been no official statement from Adebule, but you want officials from the Office of Education Quality Assurance to go out from Monday to identify unapproved schools with
bad structures!� The source, who blamed the current government for the unfortunate incident, said school evaluators are yet to receive their running cost since January. According to the guidelines THISDAY obtained from the ministry of education for the establishment of private schools in Lagos, the name search with the ministry costs N10,000; site inspection of the school’s location costs N15,000; approval inspection is N30,000, all payable to the government. The documentation process also involves submission of approved building plan for a purpose-built school, while payment of approval fee is determined by location and size of the school. Also, the requirement for a single stream for nursery and primary school must be nine classrooms for primary one to six and three nursery classes; one room for head teacher’s office; one room for sick bay; one room for library; a room for ICT, as well as playground with two recreational facilities. The source said during Sosan’s administration as Deputy Governor and Commissioner for Education, poor schools were asked to merge, arguing that the current administration lacks the political will to take firm decisions. “The building that collapsed had been marked for demolition, why was it not demolished? It is sad. Many of the structures on Lagos Island were initially bungalows that developers just put pillars to make money, just as we also have a large number of unapproved and unregistered hospitals. Unfortunately the requirement for
the approval of schools is not that stringent,� he stressed. Some educators and parents also attributed the building collapse to poor governance, poverty, illiteracy, greed and unpatriotism on the part of government and building developers. An educator, Mrs. Omotunde Koleosho said: “I happen to have lived in that area several years ago, the whole of Lagos Island has been turned into a market place. Most houses are now multistorey with little or no space between them for emergencies. The buildings are poor and of less quality, having been built by greedy developers who used sub-standard materials, the government officials who approved such are corrupt, the dearth in our educational system is a pain in our hearts.� She said from pre-schools to the universities, many parents are too poor to send their children to quality private schools and only make do with the available ones, adding that parents must be up and doing too. “Family planning is no longer preached, we breed poverty, the economy is sick and the people are the casualties. May God heal our land and help us, only truth can save us, a stich in time saves nine,� she said. A parent, Mr. John Akpan argued that if the public schools had not degenerated to the lowest level, there wouldn’t have been such proliferation of private schools. “The problem is corruption, pure and simple; some people are responsible for inspecting and demolishing that building and many others. They didn’t do their jobs and it will continue until those responsible are made to pay for their crimes.� Another parent, Mrs. Titilayo Adewale said: “The parents of the children in most of the schools are traders looking for the nearest place to put their children without considering the consequences since they have been notified of demolition. Some too live in dilapidated buildings, therefore seeing this particular one as normal. It is pathetic.� Mrs. Olubunmi Ishola also stressed that those responsible for the disaster should be punished so as to avert such occurrence in future. “Schools, apartments, offices and more keep collapsing even at construction stage. If those responsible are not punished, we will never evolve like other humans elsewhere. The building owners, builders, engineers, architects, inspectors and more, are all culpable, even more than the school proprietor if he doesn’t own the building in question. Examples have to be set, otherwise impunity reigns.�
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EDUCATION
Commonwealth Scholars to Train 30 Varsities on Commonwealth Scholarships Hammed Shittu in Ilorin As part of efforts to promote education in the country, the Commonwealth Scholars and Fellows Alumni Association, Nigeria (COSFAN) has said that about 30 universities in the country have been earmarked for the training of postgraduate students and would-be researchers on easy ways of accessing Commonwealth scholarships. The COSFAN National President, Dr. Abiola Adimula stated this at an event to mark the 2019 Commonwealth Day, held at the University of Ilorin. The theme of the celebration is ‘A Connected Connected: Issues and Implications for Sustainable Development’. According to her, “the association selected five universities: four federal and one private from each of the six geopolitical zones of the country in the training billed to commence this year. Adimula said the association had discovered that many Nigerian potential scholars were not accessing the Commonwealth scholarships as expected of them, adding that about 38 scholarship slots were extended to Nigeria last year with 22 scholars picking the slots, while the remainder were wasted. Adimula, who teaches at the Centre for Peace and Strategic Studies, University of Ilorin, stated that the association would tour the selected universities to train and guide the postgraduate students on mode of accessing the commonwealth scholarships.
“We discovered that we had a lot of slots in Commonwealth scholarship that many Nigerians are not accessing just because they are not giving proper and good application to achieve it. “By last year, we had 38 slots for Nigerians, we were only able to win 22, which means that we wasted the other slots. So because of this, we have this at the University of Ilorin. “Presently, we have a work plan of committee working on scholarship mentorship for universities, and we have set aside 30 universities in Nigeria that we are going to start with this year. “We have five universities per region; four federal universities and one private university in each of the six geopolitical zones of Nigeria. “Luckily, UNILORIN is the first one. So, we are starting that to go round these selected universities to train our postgraduate students and researchers that are interested in masters and Ph.D scholarships in the UK, on how to access this and what they need to guide them to ensure that we have more people enjoying the Commonwealth scholarships in Nigeria�, Adimula stated. She said the association had undertaken series of programmes to improve the education system, especially the plight of out of school children in Internally Displaced Persons (IDPs) camp. “We have been able to do some programmes for out of school children. For example, when we went to the Internally Displaced Persons camp in Benin, Edo State, we met out
UNIOSUN Partners African Varsities on Data Usage for Research Reproduction Yinka Kolawole in Osogbo The Osun State University (UNIOSUN), in partnership with the Association of African Universities (AAU), has initiated a research model on how African universities can use ‘stata’ to do analysis on reproduction of research. The initiative was discussed at the second research/training workshop tagged ‘Data Ethics and Skills for Reproduction of Research Findings Using Stata’, held at MicCom Golf and Hotel, Ada, Osun State. Speaking at the event, the Project Officer for AAU, Mr. Samuel Nyarko Agyapong said the workshop was aimed at training the next generation of African researchers on data analysis tools and practices to enhance the transparency, reproducibility and openness of research. He explained that the focus of the workshop was to make participants gain basic understanding and skills in analyzing research data in a reproducible manner. In his remarks, the ViceChancellor of UNIOSUN, Professor Labode Popoola said the most pressing problem facing the world today is the increasing complex approach to research.
He said some of the factors responsible for lack of global recognition for African research are low research quality, lack of appreciation of data manipulation, among others. “Exchanging data and other research outputs among researchers could open up new avenue for discovery and innovation that might never have been anticipated by the original data generators. Also, access to the data underlying research findings is critical to ensure that these claims can be scrutinised and reproduced. “Additionally, it is no longer news that most African researchers still face difficulties in publishing their research findings. Among other factors, these difficulties could be attributed to the lack of research quality, poor data, lack of appreciation of the data manipulation process and lack of research integrity. “I believe this workshop is poised to address some of these important research challenges for improved research quality, integrity and output on the African continent. “Osun State University is committed to high quality research and we are glad to work with the Association of African Universities in relevant capacity building.�
of school children. “We were able to speak with the state government to commission a modern educational outfit with modern equipment
for these students at IDPs camp. “Outside that, the governor of Edo State has done well in the sense that we gave him two requests when we went
there, that we wanted him to commission a schooling facility for the pupils and to also employ a lawyer that was in the IDP camp.
“Within two weeks of our visiting the camp, the governor was able to commission the ongoing schooling facility for the pupils.�
L-R: The Director, Co-Curricular, Lagos State Ministry of Education, Mrs. Babs Akinyeye; Director Admin and HR, Mrs. Folashade Lediju; Permanent Secretary, Ministry of Education, Mrs. Adebunmi Adekanye; the winner from District I, Miss Precious Patrick; Permanent Secretary, District III, Mrs. Titilayo Solarin; and Permanent Secretary, District V, Mrs. Anike Adekanye, during the presentation of trophy to the winners of 2019 Commonwealth Day celebration in Lagos... recently
Lagos Celebrates Commonwealth of Nations Day
Education, Critical to Human Capital Devt, Says Chief of Air Staff
Funmi Ogundare
Emmanuel Otaru
The Lagos State Government, through the Ministry of Education, recently marked the 2019 Commonwealth Day celebration with the theme ‘A Connected Commonwealth’ when students from public schools showcased their dexterity in choral presentation, dance drama, parade of flags, cultural dance, fashion parade, drama and unity dance to drive home the theme. The colorful celebration saw District I represented by OkeOdo Senior Grammar School, Alimosho, carry the day with 62 per cent; District IV and District III emerged second and third position with a score of 59 and 56 per cent respectively. Speaking at the programme held at the Adeyemi Bero Auditorium, Alausa, Ikeja, the Permanent Secretary, Mrs. Adebunmi Adekanye said the Commonwealth celebration provides an opportunity for individuals, communities and organisations to promote the Commonwealth, share values of peace, democracy and equality, which she said would help in building bridges of mutual understanding. “A connected Commonwealth will bring about peace among countries of the world. Nations will shun selfishness and bullying of smaller and weaker countries. The pursuit and promotion of self or group interest above common interest is antithetical to building a common future.� She added that the theme of this year’s Commonwealth celebration was apt, given the prevailing world dynamics. “You all will agree with me that there is need for concerted efforts to pull down all obstacles on our
way to building a sustainable and peaceful future that guarantees the optimal development of all, without inhibitions,� Adekanye said, while commending the students for their impressive presentations. She advised them to shun examination malpractice, sexual, physical and mental abuse; drug and cultism so that they can be in the league of players that will direct the affairs of the nation. The Director, Co-curricular, Mrs. Marrion Babs-Akinyeye said the Commonwealth Day celebration has become an avenue to discover the hidden talents of students while developing the existing ones. “There is no gainsaying that talents vary in children, some are gifted in thinking fast and spontaneous reaction to questions. This is what we develop in our various quiz competitions which I am pleased to say has been doing us proud in many fronts at local and international levels.� She said the state has also been nurturing the students’ gift of oratory power and argumentative public speaking through its schools debate, which has become popular among education stakeholders. “The standard has been growing by each competition. There is also the science, arts and craft and talent hunt competition designed to help harness the hidden talents of students which can become a viable source of income to them in the future,� Babs-Akinyeye said. A teacher from Oke-Odo Senior High School, Ms. Adeola Adefemi, who expressed delight about the success of her school in the competition, said there were series of auditions among the schools within Education District I.
The Chief of the Air Staff, Air Marshall Sadiq Baba Abubakar, has stressed the importance of education as the foundation of human capital development and a key factor in any form of societal advancement and innovation. He made this remark as the special guest of honour at the launch of a youth empowering thriller novel, ‘The Great Citadel’, written by Wing Commander Anslem Osasuyi, which held at the Nigerian Air Force Officers’ Mess, Ikeja recently. Abubakar, who was represented by Air Officer Commanding Logistics Command, Air Vice Marshall A.A. Olabisi, congratulated the author for his contribution to learning by writing the book. Abubakar, quoting Jesse Lee Bennett, who said: “Books are the compass, telescope, sexants and charts which other men have prepared to help us navigate the dangerous seas of human life,� said, the book aptly highlights the reality of everyday challenges that fresh undergraduates would face in higher institutions, most especially the universities. “The book emphasises the need for moral values and mentorship as essential requirements for preparing youths for productive lives in our institutions of higher learning. “The book also highlights the importance of hard work and perseverance in the attainment of academic excellence. Furthermore, the book enumerates the possible pitfalls students could experience during their studies and suggests solutions to such
challenges. It also talks about the various social activities on campus, as well as campus politics.� Abubakar, while recommending the book to young undergraduates and secondary school students preparing for university life, expressed hope that “the book would contribute to revamp the fast eroding core values of hard work, perseverance and quest for excellence among the youths. It would also encourage more literary intellectual pursuits among Nigerians from different walks of life, particularly our wards, officers, and airmen of the Nigerian Air Force. “It is my hope that this initiative will encourage many other budding authors to pick up the challenge and weather the storm,� he said. Sharing his experience, the author said it was quite challenging, adding, “I realised that for authors in this country, you will be the one to do the brain work, look for publisher and the finance to publish the book, you don’t have a sponsor. I think the support system is very poor for authors in this country. It is a huge discouragement for potential writers.� On the declining quality of education today, he said, “honestly we met the system that was on the decline but was still okay. From my interaction with some graduates, the situation of academic standard has not improved. There is no improvement in the quality of graduates. Graduates are not as enlightened as we were during my time. Intellectual work is going down. There is a lot of distractions these days.
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T H I S D AY ˾ Ͱͮ˜ Ͱͮͯͷ
SOW&G Foundation Educates Women on Healthy, Hygienic Practices Uchechukwu Nnaike In commemoration of this year’s International Women’s Day with the theme ‘Balance for Better’, the Save our Women and Girls (SOW&G) Foundation recently organised a health outreach for women and girls in Sangotedo area of Ajah, Lagos. The event witnessed lectures by health and nutrition experts, who gave them tips on how to prevent diseases and stay healthy; how to maintain personal hyegiene, as well as harmful practises to avoid in the homes. According to the Secretary of the foundation, Nedy Akwiwu, the foundation aims at empoweing women and girls everywhere through mentorship, strategic partnerships,
poverty alleviation initiatives and trainings. According to her, the event was organised to celebrate womanhood in line with the foundation’s SDGs, adding that the medical experts would give the women health checks to see that they are balanced, celebrate their lives as women and position themselves for greatness. A representative of Afonchies Pharmacy, Dr. Ovo Evbodi said her organisation decided to work with the foundation by conducting free medical tests like checking blood pressure, blood glucose level and malaria test on the women with the aim of creating awareness because most of the women are not conscious of their health profile. She said they will also provide counselling for the women
and refer the one that present with serious health issues to the hospital. Free pregnancy test kits and condoms were also distributed to the women. One of the Facilitators, Chef Daniel Olurin said it is important to maintain hygiene standard while cooking, adding that there are a lot of illnesses that are caused by poor hygiene or not eating the right kind of food. He said the most common problem associated with unhiegenic environment is salmonella poisoning, which he said can be prevented by having a clean environment, cooking food to the right temperature, not mixing chemical with food, among other dos and don’ts of cooking. Dr. Tolu Taiwo, a medical doctor, who spoke on some
harmful day-to-day practices that people engage in and think they are helping them, said for instance some people handle seizures in children by putting onions into their eyes or putting their hands in the fire; or using urine to wash the eyes when suffering from conjuctivitis. He also advised them on how to treat some minor injuries at home and hand washing. “Washing your hands alone can prevent about 50 per cent of the illnesses that one can encounter.” Responding, the Community Women Leader, Mrs. Iyabo Agboola commended the foundation for the enlightenment programme in the community, saying that the knowlegde gathered at the event will help the women to live healthy lives.
From right: The President of St. Finbarr’s College Old Boys Association (SFCOBA), Mr. Adeyinka Bashorun, presenting an award to an old boy during the awards and recognition of benefactors of the association in Lagos... recently
Issyma Children’s Foundation Science, Maths Contest Produces Winners Funmi Ogundare Winners of the Issyma Children’s Foundation International Schools Mathematics and Science Quiz Competition designed to test pupils’ competence in the subjects have emerged. The competition held in collaboration with S.T and T Regency Schools, Lagos, saw Maryland Convent Private School emerge first position; Susan Memorial School,Ogba; and Air force Primary School, Ikeja came second and third
respectively. They received various gifts and cash prizes of N100,000, N50,000 and N25,000 respectively. Speaking at the programme, the Proprietress of the School, Dr. Maggie, who is also the founder of the foundation, said the competition is designed to enable the pupils know who they are for the benefit of their schools and to give them a better vision. “It is about giving the children a vision so they could see the world in a
better perspective,” she said, adding that the foundation has trained over 500 students in various fields since its establishment. The Director of the school, Mrs. Teegee Fowora, who expressed hope about the participation of public school pupils in the competition, said, “it is just to let them know that government schools are waking up, they are beginning to come out very strong.” She also expressed delight about the performance of the
pupils, adding that there has been a large turnout of schools over the years. A teacher at Maryland Convent Private School, Mr. Michael Nam attributed the success of his pupils to good preparation and attending series of competitions. “Our school has been outstanding in most of these competitions. It is a monitoring strategy as it would help pupils to read very well rather than limiting themselves to their syllabus. It has been a wonderful experience.”
FUTA Renames Postgraduate Hall after Waku James Sowole in Akure The Federal University of Technology, Akure (FUTA) has renamed its Postgraduate Hall after Senator Joseph Waku, the late Pro-Chancellor and Chairman of the Governing Council of the institution, who died on February 3, 2019. The Vice-Chancellor, Pro-
fessor Joseph Fuwape made this known at the home of the late senator in Makurdi, Benue State, during the burial ceremonies. He said the decision to immortalise Waku who served FUTA meritoriously and contributed significantly to the development of the institution was approved by the council. “Waku as the chairman of
council, kick-started the commercial farming of FUTA on 15 hectares of land as part of efforts to boost the internally generated income for the institution and to educate peasant farmers around FUTA and Akure environs on mechanised farming. “He also jump-started the process leading to the establishment of a Centre of Excellence
in Bitumen Exploration in FUTA. “Under his leadership, the plans to establish the institution’s teaching hospital was revitalised with the release of the land for the project by the Akure Kingdom and the Certificate of Occupancy by the Ondo State Government,” Fuwape stated.
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Mrs Kehinde Omoru writes from the UK
T H I S D AY Ëž Í°ÍŽËœ Ͱ͎ͯ͡
35
The Role of Technology in Education Ekua Abudu
S
o many things could be said about the times that we live in, about how we connect and communicate and the manner in which all these factors are shaping the world around us. Although most of what we know about life remains the same, there is always an evolution of the things that make up the lives we lead. Technology is one of the many great evolutions of the twenty first century. It has influenced many aspects of our lives such as health, communication, leisure and even now and most strongly, education. Education is a fundamental part of human existence. This occurs through multiple avenues, but most commonly through the school. The school is where we learn new things and develop on the existing; where we form vital information about ourselves and our role in the world. Many scholars have ranked education as priority in the way that research continues to show that the world is yet to uncover all the possibilities of technologies. In light of this, it becomes critical to not only understand technology and its many benefits, but to also use it to our advantage. After all, almost all operations in the modern world are closely aligned with technology. Many policy makers and academics might suggest that technology in the classroom has its own demerits, however, if the focus is on how seamless it is to incorporate experiments, research and learning, then it becomes worth it. In these times where many children are already in possession of devices, instead of allowing the devices become a distraction to them, teachers could use them as educational tools. That way, the infamous work and play balance is struckchildren get to learn more, using their most cherished device. Tablets and smartphones are the new learning agencies. For many schools, these devices are provided to the students and for some, the students are required to bring their own personal devices. Whatever the case may be, being armed with an internet-enabled device
can be of more benefit to learning and development than is recorded. Technology based learning is a critical introduction to the concept of multiple learning, whereby children are building on their knowledge of software just as they are acquiring information about a subject or the other. It allows children stay abreast of all that is happening around the world while in the comfort of their classrooms. Having access to fresh information is essential, as it keeps students ahead of their peers. A child who is in possession of useful information about the world is more likely to make well informed decisions. In addition to this, some of the information for learning that are not available in textbooks could be accessed online through digital books, quizzes, apps and cyclopedias. Technology also propels a fun classroom engagement and makes teaching and learning more interactive and less theoretical. Only a
small number of schools have adapted to this modern, efficient learning style. Greenwood House School supports technology learning with an up-to-date, secured network infrastructure that enables users enjoy the internet. A secure Wi-Fi setting ensures that children and their devices are not exposed to harmful threats and do not also have access to matured content. This restriction will also serve as an assurance for parents who are skeptical over their children’s access to the internet. Children also learn how to train themselves not only on how to use technology but also on how to care for the device in their care. The ownership instils a sense of responsibility that is beneficial for a child’s growth as well as sharpen their preparedness outside the school setting. It has been said many times that the world is a global village, and as humans continue to progress, technology will remain a life skill. On account of this, the value of technology in
classrooms cannot be overstated. Outside the classroom, technology is dominating different sectors. It has become a prerequisite to dominate major aspects of human life. Therefore, parents should emphasise and prioritise learning institutions that encourage their children’s use of technology. When children are exposed to technology in the classroom, they gain an added advantage in the highly competing world. Digital citizenship allows children develop other skills that may have gone unnoticed. Greenwood House School recognises this from an early stage, therefore boosting learning abilities among children that will prepare them for the outside world. Indeed, the heights to which we require technology to function through our day-to-day activities can only keep getting stronger. -Abudu is the co-founder of Greenwood House School
Pupils of Greenwood House School in the ICT lab
Expert Wants Prevention of Substance Abuse Introduced into Schools’ Curricula The Founder and Executive Director, Global Initiative on Substance Abuse (GISA), Dr. Martin Agwogie has called for more efforts in the prevention of drug abuse in the country by inculcating it into schools’
curricula. This he said is necessary because of the frightening report based on the just released National Survey on Drug Abuse and Health in Nigeria, in which one out of seven Nigerians between
the ages of 15 and 64 erngage in at least one substance abuse. He said this is higher than the global average of one out of 20 according to UNODC world drug abuse. “Globally, it is one out of
20 but in Nigeria, it is one out of seven which means there is a problem that we need to collectively address as a nation, community, parents and individuals.� He stated this on the sideline
Tech-U Trains 100Youths in Film Production, Agro-allied, Others
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Kemi Olaitan in Ibadan
Seriki Adinoyi in Jos
The First Technical University, Ibadan has graduated 100 youths trained on system security, close circuit television installation, film production, fashion designing, agro-allied, paint making and other entrepreneurial skills. The Vice-Chancellor, Prof. Ayobami Salami, while speaking at the certificate presentation ceremony, said the training was specially designed to reduce the scourge of unemployment among the youths in the state and its associated socio-economic consequences. He also reiterated the institution’s commitment to providing sustainable alternatives to the crisis of unemployment in the country through trainings in various marketable skills for the youth, adding that the university is adequately equipped to offer evidencebased solutions to the problem of joblessness in the country. “We hold the conviction
that by working assiduously to empower our young people, we would not only deal a huge blow on poverty and unemployment in the country, but also bridge the yawning skills gap that consistently makes it impossible for the nation to join the league of truly productive economies globally. “The programme represents one way by which the First Technical University hopes to contribute to the socio-economic development process of the country, by building an entrepreneurially literate society and strengthening the industrial base of Nigeria and Oyo State in particular. “It was designed to develop the capacity of participants in industryrelevant technical, vocational and entrepreneurial skills, necessary to start and effectively manage need-based micro and small size enterprises.This is with the view of reducing the scourge of youth unemployment in the state and its associated socioeconomic consequences.�
The College of Medicine and Health Sciences of Bingham University, Karu Nasarawa State recently inducted 31 newly graduated medical doctors that obtained degrees in Medicine and Surgery (MBBS) from the university. In a brief speech at the Physician’s Oath Taking Ceremony, held at the Bingham University Teaching Hospital, Jos, Plateau State, the Vice-Chancellor, Professor Williams Qurix advised the fresh doctors to abide by the rules guiding the medical practice. He charged them to be the change agents that the country needs in the health sector. “Today’s induction is the fifth in Bingham University. The five sets have produced a total of 155 doctors. We hope that in no distant future our administrative quota will increase so that our output will correspondingly increase. “The university has improved the infrastructural facilities in Jos Campus in terms of new academic block,
thus creating more office accommodations befitting of an academic institution. We have also completed and put to use new Emergency Paediatric Unit (EPU) improving our clinical services.� He added: “Friendly academic and learning environment have been created through establishment and expansion of e- library, solar power and provision of water tankers to boost supply of water to the campuses.� To the new graduates Qurix said: “Your role as medical doctors is very crucial to humanity. You are trained to save lives. You should never compromise that very important role and rule; you should always remember your oath and respect it.� “The Medical and Dental Council of Nigeria (MDCN) has from the establishment of this medical school sustained continuous support in terms of advisor and also prompt response to our invitation. The university remains eternally grateful to the register in particular and the council in general.�
of the one week training for practitioners on the Universal Prevention Curriculum (UPC) for substance use disorders, organised by GISA, in collaboration with Colombo Plan in Lagos. The National Coordinator for
Universal Prevention Curriculum on Substance Use disorders for Nigeria, also added that prevention can only be done through evidence base which method is not common in the country now.
Cowbellpedia: Online Platform Boosts Students’ Participation The organisers of the Cowbellpedia Secondary Schools Mathematics TV Quiz Show have attributed the increased students’ participaion to the insistence of online registration only. They said the competition witnesed record enrolment this year, as a total of 56,073 students participated in stage one of the competition, sponsored by Cowbell Milk, the flagship brand from Promasidor Nigeria Limited. The number represents a 34 per cent increase over the 41,730 participants recorded in 2018 when the registration format went strictly online. The online format was introduced in 2016 to align with global trend in examination registration. The Marketing Manager, Promasidor Nigeria Limited, Abiodun Ayodeji said the online mode of registration has paid off with the new feat recorded in 2019. He encouraged the schools to continue to support the initiative.
This year, Lagos State led the registration chart with 9,860 candidates, followed by Ogun and Oyo States with 4,687 and 4,195 respectively. The three states had been consistent in their lead over the last four years. Rivers State with 2,492 candidates came fourth overall and first in the South-south region, while Osun State with 2,471 candidates, Ekiti State (2,331 candidates) and Ondo State (2,071) occupied the fifth, sixth and seventh position respectively. Anambra State led the five south-east states by producing 1,810 candidates, while Plateau State emerged the best in the north with 1,445 candidates. The analysis also revealed that Sokoto State has 136 per cent registration increase over its enrolment last year; while Adamawa State (110 per cent); Gombe State (99 per cent); Zamfara State (72 per cent), Plateau State (68 per cent) and Edo State (67 per cent) followed in that order.
36
T H I S D AY Ëž Í°ÍŽËœ Ͱ͎ͯ͡
CITYSTRINGS
ĂœĂ™Ă&#x;Ăš Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă? äĂ?Ă™ĂŒĂ“ Ă—Ă‹Ă“Ă– Ă?Ă’Ă“Ă?Ă—Ă?Ă–Ă“Ă?Ë›Ă?äĂ?Ă™ĂŒĂ“ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ă™Ă—Ëœ ͙͖͓͓͖͓͔͓͖͑͒
Empowering Edo Youths for Leadership Sunday Ehigiator writes that the Prince Harrison Foundation recently pioneered the Edo State Youth Lead Summit to empower youths with the prerequisite knowledge to attain leadership positions
T
he strength of every nation as always lies on the quality of its youths. But like a give and take phenomenon, a country can only get from her youths what she had deposited in them. Hence, many are of the opinion that it is high time Nigerian youths begin to attain towards personal development, which in future would translate into national growth. Against this backdrop, the Prince Harrison Foundation, under the leadership of the Chairman Board of Directors, Prince Harrison Ehime, and the foundation’s Executive Director, Gabriel Benjamin, pioneered the Edo Youth Lead Summit. The summit which was graced by the Vice President, Prof. Yemi Osinbajo; the Governor of Edo State, Godwin Obaseki; Minister of state, Petroleum Resources, Dr. Ibe Kachukwu, amongst others, was an avenue for youths to have an interface with the present leaders of the country, with a view to inspire them to make a difference wherever they may find themselves. In his welcome address, the executive director of the foundation commended the chairman for birthing such a laudable imitative and for providing such an incredible platform for youths to share their thoughts, dreams, visions, passions and aspirations with each other. According to Benjamin, “Imagine a strategic path to equipping visionary leaders, believes that the youths have the ability to dream, the capacity to achieve the impossible, and the boundless energy to put their positive dreams and plans into tangible actions. Although the prospect of opposing the successful emergence of youths as leaders will grow stronger, there is the urgent need for them to put on the breast shield of resilience and stride on, firmly undaunted." He thereafter admonished the participants to fasten their seat belts as EDYLeadS'19 takes their character, competence and capacity on a voyage of dramatic leadership shift. In his remarks, Ehimiyen advised the youths on the importance of perseverance and being true to one's self. On leadership and networking, he said, “people are more disposed to fund your vision than fund you as an individual. You are five persons away from that major person you need, that will help you actualise every of your dreams. Hence, networking is key. “Until you become comfortable with working with people who possess gifts you don't, you may not go far. Because, you can't access most mentors you want at this stage of your life, that's why they have books, websites, podcast and autobiographies- read them�. Speaking at the event, Osinbajo harped on the ethos of hard work, trust and character. He stressed on how best young people can equip themselves in changing the narratives and meeting the needs of their generation. According to him, “no matter how rich, talented, well-connected, or your status or the wealth of your parents, poor, or spiritual you are, the difference between failure and success is character, hard work and diligence, which are all you need to achieve success in life. Even thieves look for trustworthy thieves to work with. If you do what you do, the best way you can; diligently, you would always be recommended for something better.� Also speaking, Obaseki called on the youths to to be more productive and take charge in defining a new narrative for development through the use of technology as provided for in the Edo Innovation Hub, which houses the South-south Innovation Hub.
Cross session of participants at the event
L-R: CEO, The Made Man Foundation, USA, Dr Ky Dele; Executive Secretary, NCDMB, Engr. Simbi Wabote; wife of the Deputy Governor of Edo State, Mrs Marian Shaibu; Deputy Governor of Edo State, Rt. Hon. Philip Shaibu; Minister of state, Petroleum Resources, Dr Emmanuel Ibe Kachikwu; Vice President, Prof. Yemi Osinbajo; Governor of Edo State, Mr. Godwin Obaseki; First Lady, Edo State, Mrs. Betsy Obaseki; Chairman, Board of Directors, PHEF, Prince Harrison Ehimiyen; Managing Director, NDDC, Engr. Nsima U. Ekere and Sen. Magnus Abe Kachukwu on the other hand charged youths to work with people with vision; which according to him, “when you see men with vision support them. There are some people you work with that will kill your dreams, and there are others who even when you don't have a dream, they help you dream�. Vice Chancellor, Ambrose Alli University, Ekpoma, Prof. Onimawo Ignatius, advised the youths on the importance of trusting the process and having a clear vision. After using his own ordeals; as one who couldn't afford to pay for fees, was rejected because he couldn't speak English and ended up a bricklayer at a young age, as an example, he concluded that “today, I am a vice chancellor of the best university in Nigeria because of my determination, clarity of vision and the God factor�. CEO, The Made Man Foundation, USA. Dr. Ky Dele, started off by stating how germane self-love amidst racism, tribalism or difference in belief or class (being a victim of such) was. Pointing out just the bad side of a thing wasn't
the best approach towards leadership but also commending the good deeds, as this would make the people more open minded to work with. Managing Director, Aliensmedia Communications and Founder, #ENDSARS now movement on twitter, Mr. Segun Awosanya, exposed participants to the gimmicks of the government and the importance of education and networking. On the power of youth's convergence, he said: “About 70 per cent of our 200 million Nigerians are youths of 18-35 and that's a very vocal voice�. On leadership he said: “You subconsciously fertilised your mum's egg and now you're consciously feeling like a failure, get up. Education is not to get a job, but to make impart, because no matter how much you make for your company or how hard you work, you'd be paid the same salary at the end of the month. Government is built on control of beliefs/ group minds (media), control of finance/ inflation/money (banks), and monopoly of violence (police, army) and they try as much as possible to control you with
these arms, but until we start to question these platforms, we would never really know what they are up to�. Executive Secretary, Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote, while addressing participants said, “To be a better leader, if you don't have self believe and selfworth, you are dead on arrival�. Managing Director, SPDC, Dr. Osagie Okunbor, enlightened the youth on the various attributes of a leader while placing his emphasis on trust being the bedrock of leadership. According to him, “No matter what leadership quality you possess, if people don't trust you, you can't influence them and ultimately can't make impact�. Speaking on multitasking, he said, “If as a leader, and one facet of your life flourishes and others suffer, you're a failure�. The event was described as a life changing one by the now enlightened participants of the summit, as they took to various social media platforms to share knowledge and ideas as received, amidst gratitude to the organisers.
37
T H I S D AY ˾ Ͱͮ˜ Ͱͮͯͷ
CRIME&SECURITY
Police Arrest Notorious Robbers, Recover Loot 5XP NFNCFST PG B SPCCFSZ HBOH OPUPSJPVT GPS UFSSPSJT JOH SFTJEFOUT PG -FLLJ BSFB P G - B H P T 4 U B U F I B W F N F U UIFJS XBUFSMPP TIPSUMZ BGUFS SP C C J O H U X P SF T J E F O U T 5 I F T V T Q F D U T " E F C B Z P "Z P N J E F B O E * T B B D % B W J E X F SF B S SF T U F E C Z B U F B N P G E F U F D U J W F T M F E C Z U I F % J W J T J P O B M 1 P M J D F 0 GG J D F S .BSPLP 1PMJDF 4UBUJPO $41 * T B I " C E V M N B K J E " D D P SE J O H U P U I F 1 P M J D F 1 V C M J D 3 F M B U J P O T 0 GG J D F S -BHPT 4UBUF $PNNBOE %41 # B M B & M L B O B U I F U F B N I B E FNCBSLFE PO DSJNF QSFWFO UJPO QBUSPM BMPOH -FLLJ *LPZJ -JOL #SJEHF BSPVOE QN BOE JO UIF DPVSTF PG UIFJS EVUZ U I F Z D B N F J O D P O U B D U X J U I U X P Z P V O H X P N F O ( C F N J
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CRIME SITUATION REPORTS
SECURITY TIPS (PART 55) r$PSQPSBUF DJUJ[FOT IJHI FOE DPNNFSDJBM BOE SFTJ EFOUJBM FTUBCMJTINFOUT JOTUJUVUJPOT NFHB DIVSDIFT NPTRVFT BOE JOEJWJEVBMT XJUI WBMVBCMF BTTFUT JO DMVEJOH IPUFM BOE QBSL PXOFST BSF FODPVSBHFE UP JOTUBMM $MPTFE $JSDVJU 5FMFWJTJPOT $$57 BOE PUIFS TVSWFJMMBODF TZTUFNT TUSBUFHJDBMMZ PO UIFJS QSFNJTFT UP IFMQ JO NPOJUPSJOH BOE DBQUVSJOH DSJNJOBM BDUJWJUJFT r%SBX UIF BUUFOUJPO PG UIF QPMJDF PS PUIFS TFDVSJUZ BHFODJFT UP WFIJDMFT QBSLFE PS BCBOEPOFE CZ VOLOPXO QFSTPOT r &NQUZ DPOUBJOFST HBT DZMJOEFST EVTUCJOT BOE PUIFS SFDFQUBDMFT OPU JO VTF NVTU CF QSPQFSMZ EJTQPTFE PG PS LFQU BXBZ GSPN UIF SFBDI PG VOBVUIPSJTFE QFSTPOT r%P OPU BMMPX VOLOPXO QFSTPOT UP ESPQ PS BCBOEPO CBHT CPYFT GSVJU CBSSPXT PS USPMMFZT BSUJDMFT PG USBEF DBSUPOT PS BOZ XSBQQFE PS TFBMFE DPOUBJOFST BSPVOE ZPVS QSFNJTFT r-FHJUJNBUF TFMMFST PG DIFNJDBMT TVDI BT GFSUJMJTFS BNNPOJVN QSPEVDUT BDJE FUD TIPVME CF XBSZ PG QFSTPOT UIFZ TFMM TVDI QSPEVDUT UP "MM TVTQJDJPVT PSEFST TIPVME CF JNNFEJBUFMZ SFQPSUFE UP UIF TFDVSJUZ BHFODJFT r "MXBZT DIFDL ZPVS TVSSPVOEJOHT GPS TVTQJDJPVT VOFYQMBJOFE BOE EBOHFSPVT PCKFDU BOE JNNFEJBUFMZ JOGPSN UIF QPMJDF XIFSF BOZ TVDI PCKFDU JT GPVOE r /FWFS BDDFQU UP UBLF QPTTFTTJPO PG PS XBUDI PWFS BOZ CBH PS PCKFDU LFQU CZ VOLOPXO QFSTPO PS QFSTPOT SOURCE: Nigeria Police Force Public Relations Department
CONTACT OF SEXUAL ASSAULT REFERRAL CENTRE KADUNA You can now access the Sexual Assault Referral Centre (SARC) at Gambo Sawaba General Hospital, Kofar - Gaya, Zaria. The suspects
Man Rejects Monarch Seat, Decries Pressure Kayode Fasua
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$POUBDU QIPOF OVNCFST
Source: Ministry of Justice, Kaduna State
POLICE STATIONS IN LAGOS WITH FAMILY SUPPORT UNIT The Lagos State Police has released an update on police stations in the state that have Family Support Units (FSUs)/Gender Unit/Juvenile Welfare Centre (JWC) and phone numbers to reach them on. "EFOJKJ "EFMF -BHPT *TMBOE *TPLPLP *MVQFKV 'FTUBD "MBLVLP #BEBHSZ "KBI *LPSPEV *HCPHCP ,FUV *LPUVO (FOEFS %FTL 1PMJDF $PNNBOE (3" *LFKB %JWJTJPOBM 1PMJDF 4UBUJPO +8$ "MBLBSB SOURCE: Lagos State Police Command
38
T H I S D AY ˞ Ͱ͎˜ 2019
BUSINESS/MONEYGUIDE
NIBSS,Others Move toTackle e-Payment Failures Obinna Chima Following the deluge of dispense errors and non-reversal of failed transactions at point of sale (PoS) terminals and some other electronic banking channels, the Nigeria Interbank Settlement System Plc (NIBSS), the Central Bank of Nigeria and commercial banks yesterday said they are assiduously working towards addressing the challenges. They also apologised to all bank customers and reassured their commitment towards ensuring an efficient payment system. Speaking during a media briefing in Lagos, at the end of a stakeholders’ meeting, the acting Managing Director, NIBSS, Mr. Niyi Ajao, said his
organisation was aware of the poor transaction network going on in the country as well as the pains it had caused to e-payment users. He said the meeting by the stakeholders was to improve on poor network quality for e-payment transactions by extending the time it takes to complete a transaction, especially, PoS and restore confidence in the e-payment system. He listed the areas the meeting focused on to include time-out, reversals, capacity enhancement and monitoring. Timeout is the total turnaround-time (TAT) for a PoS transaction cycle, from the time it is received from a PoS to the time a response is sent back to the terminal. According to Ajao, the TAT had been configured at 15
seconds in agreement with banks and processors. However, delayed responses from Issuers after this timeout in recent times could cause authorised debits not to return to the terminal before the set TAT. Speaking on the remedial steps agreed at the meeting, he said the stakeholders agreed that there should be adjustment of timeout to 20 seconds from 15 seconds on March 14, 2019. This, he said had been implemented already. Others include, “adjustment of timeout to 45 seconds from 20 seconds on March 19, 2019; to be done today. “Disable any Issuer with delayed responses beyond 45 seconds with immediate effect to isolate such a bank. This process is on-going,� Ajao said.
FGN Bonds Top N8.63tn Pension Funds’Assets James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË Total pension funds’ assets under management increased to N8.63 trillion in the fourth quarter of 2018 (Q4 2018), compared to N8.32 trillion in Q2, according to the National Bureau of Statistics (NBS). FGN bonds accounted for 52.49 per cent or N4.53 trillion of the total pension assets, while treasury bills represented 19.37 per cent or N1.67 trillion of total assets. According to the Pension Asset and RSA Membership Data Q4 2018, released yesterday by the statistical agency, local money market securities represented 8.21 per cent or N709.14 billion of total assets, while foreign money market securities accounted for the least share of 0.04 per cent
or N3.20 billion. Also, participants within the age distribution 30-39 years had the highest percentage composition closely followed by participants within the age bracket of 40-49 years and 50-59 years while participants above 65 years had the least percentage composition. The total value of the Retirement Savings Account (RSA) as at Q4 was N6.58 trillion. Of the total pension assets, banks, commercial papers and foreign money market securities gulped N709.14 billion. In total FGN securities accounted for 73.09 per cent of pension fund assets with Green bonds accounting for 0.08 per cent or N7.22 billion, sukuk bonds one per cent or N86.54 billion, Agency bonds 0.13 per
cent or N11.56 billion and state government securities 1.61 per cent or N138.71 billion. In addition, domestic ordinary shares accounted for N606.19 billion or 7.02 per cent of pension assets while foreign ordinary shares represented N55.86 billion or 0.65 per cent of total assets. Total asset under the Closed Pension Fund Administrators (CPFAs) stood at N1.07 trillion, while existing schemes accounted for N977.83 billion. While bank instruments accounted for N626.33 billion or 7.25 per cent, commercial papers represented N82.80 billion or 0.096 per cent. Pension investment in FGN securities has remained attractive over time largely because of the fixed guarantees and appreciable returns offered.
TEF Set to Announce Finalists in Entrepreneurship Programme Nume Ekeghe The Tony Elumelu Foundation (TEF) will announce selected applicants for the 2019 cohort of the Foundation’s entrepreneurship programme on Friday. The event, which marks the fifth round of the Foundation’s eentrepreneurship programme would take place in Abuja. Every year, the TEF opens its application portal to African entrepreneurs, with businesses of less than three years old. Through its $100million entrepreneurship programme, the Foundation empowers 1,000 entrepreneurs annually, who receive $5,000 in nonrefundable seed capital, access to mentors, a 12-week training
programme and opportunities to promote their businesses to a global audience. All applicants receive access to TEFConnect, Africa’s digital entrepreneurial hub, which provides access to networks, training, further capital sources and business opportunities. As a means of cascading its proven entrepreneurial tool kit to the huge numbers of applicants, the Foundation launched in 2018, TEFConnect, the digital networking platform for African entrepreneurs. The platform, which has currently over 400,000 users, providing opportunities for entrepreneurs to network, receive training and forge business partnerships to scale their businesses beyond physi-
cal borders. In the five years since the Foundation launched the programme, it has empowered 4,000 African entrepreneurs directly and an additional 470 entrepreneurs supported by the Foundation’s partners. The Foundation recently appointed Ifeyinwa Ugochukwu as CEO effective from April 1. Ugochukwu succeeds Parminder Vir, OBE, who will continue to lend her experience and expertise as a member of the Foundation’s Advisory Board. A statement from TEF quoted Ugochukwu to have emphasised the importance of partnership in reaching additional entrepreneurs beyond the Foundation’s annual commitment of 1,000 entrepreneurs.
12 Millionaires Emerge in Fidelity Bank Promo Nume Ekeghe A total of 12 customers of Fidelity Bank Plc emerged winners in the fifth edition of the bank’s monthly draw for its ‘Get Alert in Millions (GIAM)’ promo, which took place in Lagos yesterday. The winners were selected through a computerised and random process, were picked from the bank’s branches across the six geo-political zones, with
members of National Lottery Regulatory Commission, and other Lottery regulatory bodies in Nigeria in attendance to ensure transparency and accountability. In all, 12 customers won N1 million each, just as a grand prize winner who emerged from Lagos, won N2 million, while other consolation prizes of television sets, refrigerators and generators were given to other winners. Some of the winners were
Dauda Olaide, Emmanuel Igwe, Juliet Ezema, Paul Rosemary, Oronne Roberts, Chukwudi Obi, Chinyere Esther Chima, who all won N1 million respectively, and the 13th winner from Lagos, was Chiedozie Ifeanyi Luke won N2 million During the event, the Regional Bank Head, Victoria Island, Fidelity Bank, Mrs. Chinwe Iloghalu, said the promo was a way to give back value to the bank’s customers.
L – R: Head, Corporate Communications, The Nigerian Stock Exchange (NSE), Olumide Orojimi; Global Reporting Initiative (GRI) Board Member, CEO, CSR-in-Action, Bekeme Masade-Olowola; Head, Shared Services Division, NSE, Bola Adeeko, and Director, GRI Africa, Douglas Kativu, during sustainability reporting workshop in Lagos
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
NOVEMBER 2018 Money Supply (M3)
31,794,803.44
-- CBN Bills Held by Money Holding Sectors
6,333,064.28
Money Supply (M2)
25,461,739.17
-- Quasi Money
14,773,076.98
-- Narrow Money (M1)
10,688,662.18
---- Currency Outside Banks
1,711,763.59
---- Demand Deposits
8,976,898.59
Net Foreign Assets (NFA)
18,990,400.78
Net Domestic Assets(NDA)
12,804,402.66
-- Net Domestic Credit (NDC)
26,062,986.22
---- Credit to Government (Net)
2,980,229.66
---- Memo: Credit to Govt. (Net) less FMA
7,093,619.43
---- Memo: Fed. and Mirror Accounts (FMA)
-4,144,571.43
---- Credit to Private Sector (CPS)
23,082,756.56
--Other Assets Net
13,258,583.57
Reserve Money (Base Money
6,811,192.37
--Currency in Circulation
2,100,129.91
--Banks Reserves
4,366,259.05
Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
Money Market Indicators (in Percentage) Month
March 2018
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
Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ
OPEC DAILY BASKET PRICE AS AT MONDAY, 18 MARCH 2019
The price of OPEC basket of fourteen crudes stood at $66.87 a barrel on Monday, compared with $66.91 the previous Friday, according to OPEC Secretariat calculations.. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna
39
T H I S D AY Ëž Í°ÍŽËœ Ͱ͎ͯ͡
MARKET NEWS
NSE Harps on High Sustainability Reporting Standards Goddy Egene The Nigerian Stock Exchange (NSE) has held itself accountable to the highest standards regarding sustainability reporting and will continue to do more. The Divisional Head, Shared Services, NSE, Mr. Bola Adeeko, stated this at the sustainability reporting implementation workshop orgased by the exchange and Global Reporting Initiative (GRI) in Lagos yesterday.
According to him, the NSE has become more resilient in its commitment to influencing its ecosystem towards sustainable business practices and creating structures to implement reporting in line with their business peculiarities. He explained that NSE began its journey to developing the sustainability disclosure guidelines in 2015 with the hosting of the maiden edition of the Nigerian Capital Market Sustainability
P R I C E S MAIN BOARD
F O R DEALS
Conference. He said the conference brought together global thought leaders in sustainability reporting whose recommendations formed part of the foundation for the drafting of the guidelines, noting that SEC approved the guidelines in 2018 and reporting has commenced effective January 2019. “We are aware of the role Environmental, Social and Governance (ESG) performance will play in maintaining business relations,
S E C U R I T I E S
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N )
access to markets and capital in the nearest future. Therefore, disclosure of ESG performance will enable stakeholders to engage with and understand a company’s true value, highlighting tangible and intangible materiality. Strong ESG performance thus attracts the growing number of investors interested in the long term sustainability of their investments,� Adeeko said. The NSE official said the exchange had received immense
T R A D E D MAIN BOARD
A S
support from our implementing partner, GRI and hoped this workshop became a reference for the needed knowledge for participants to steer sustainability reporting in their respective businesses. “The NSE will continually explore partnership opportunities to catalyze new initiatives and raise awareness on the need for responsible business practices,� he said. He said the diversity of
O F
participation at the workshop reflected one of its central tenets, which is to reveal how organisations can go beyond corporate responsibilities and start creating value through sustainability and reporting in line with global standards. “ The solutions to the social and economic challenges threatening Nigeria and the African region, require commitments and contributions from all stakeholders,� he added.
1 5 / 0 3 / 2 0 1 9 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
˾ WEDNESDAY, MARCH 20, 2019
40
Wednesday, March 20, 2019
Thisday Afrinvest 40 Index Rose 52bps
THISDAY AFRINVEST 40 INDEX
Yesterday, the Thisday Afrinvest 40 index rose 0.5% to ϭ͕ϱϭϰ͘Ϭϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ GUARANTY (+4.1%), ZENITH (+0.2%) and ACCESS (+1.7%). These
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϯϰ͘ϭй ŽĨ ƚŚĞ ŝŶĚĞdž͘
ƋƵŝƟĞƐ DĂƌŬĞƚ ^ƵƐƚĂŝŶƐ ĞĂƌŝƐŚ WĞƌĨŽƌŵĂŶĐĞ͙ 1
THISDAY AFRINVEST 40
1,514.09
0.52%
3.2%
51.4%
21.3%
7.7%
5.9x
0.8x
5.2%
13.7%
36.85
4.1%
19.8%
7.0%
6.8%
31.2%
5.5%
5.6x
1.9x
7.8%
17.8%
21.95
0.2%
11.4%
-4.8%
5.8%
22.6%
3.2%
3.8x
0.8x
12.9%
26.7%
189.40
-0.3%
8.7%
-0.2%
1.8%
44.6%
23.2%
8.3x
3.3x
8.4%
12.1%
1,526.60
-1.2%
8.1%
2.8%
3.5%
90.4%
27.8%
28.1x
24.1x
3.9%
3.6%
70.00
-6.7%
4.8%
-18.1%
-8.5%
11.3%
5.0%
28.4x
3.4x
3.4%
3.5%
8.25
0.0%
5.3%
3.8%
3.1%
6.6%
0.8%
5.9x
0.4x
3.0%
16.9%
19.00
0.0%
4.3%
-2.1%
-2.1%
34.2%
19.6%
4.6x
1.4x
6.6%
21.8%
3.4x
0.6x
11.3%
29.1%
Guaranty Trust Bank PLC
3 Dangote Cement PLC 4 Nestle Nigeria PLC
In yesterday͛Ɛ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ͕ ƚŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ĐŽŶƟŶƵĞĚ ŽŶ Ă ŶĞŐĂƟǀĞ ƉĂƚŚ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ; ^/Ϳ
Price Change Index to Date
Current Price
2 Zenith Bank PLC
ASI down 14bps
Price Previous Current Change Price Weightin YTD Change g
Ticker
5 Nigerian Brew eries PLC 6 FBN Holdings Plc 7 Cement Co Northern Nigeria PLC
ROE
ROA
P/E
P/BV
Divindend Earnings Yield Yield
ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ Ăƚ ϯϭ͕ϬϴϮ͘ϯϮ ƉŽŝŶƚƐ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ
8 United Bank for Africa PLC
7.55
0.0%
4.1%
-1.9%
-3.2%
15.4%
1.8%
ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ in E/' Z/ E Z t Z/ ^ (-6.7%), NESTLE
9 International Brew eries PLC
24.05
0.0%
2.7%
-21.1%
-23.7%
-23.8%
-3.2%
596.90
0.0%
3.2%
-6.7%
-6.7%
9.4%
5.7%
6.5x
0.6x
3.1%
15.5%
8.4%
55.6%
(-1.2%) and E' D (-Ϭ͘ϯйͿ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĨĞůů ďLJ Eϭϲ͘ϭďŶ ƚŽ ƐĞƩůĞ Ăƚ Eϭϭ͘ϲƚŶ ǁŚŝůĞ zd ƌĞƚƵƌŶ ǁĞĂŬĞŶĞĚ ƚŽ -ϭ͘ϭй͘ ,ŽǁĞǀĞƌ͕ ĂĐƟǀŝƚLJ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϯϵ͘ϱй ĂŶĚ ϲϬ͘ϳй ƚŽ Ϯϴϲ͘ϲŵ ƵŶŝƚƐ ĂŶĚ Eϯ͘ϭďŶ ƌĞƐƉĞĐƟǀĞůLJ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ ACCESS ;ϴϰ͘ϳŵ ƵŶŝƚƐͿ͕ h (40.9m unit) and
ZENITH ;ϮϮ͘Ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ ƚŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ ǁĞƌĞ GUARANTY ;Eϳϵϳ͘ϬŵͿ͕ ACCESS ;EϱϬϬ͘ϬŵͿ ĂŶĚ ZENITH
;EϰϴϮ͘ϵŵͿ͘
DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ĐƌŽƐƐ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϱ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ƚƌĞŶĚĞĚ ƐŽƵƚŚǁĂƌĚ͘ dŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž rose 2.1% ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ GUARANTY (+4.1%), ETI (+2.2%), FIDELITY
;нϰ͘ϳйͿ ǁŚŝůĞ ƚŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞdž
ĂƉƉƌĞĐŝĂƚĞĚ Ϭ͘ϯй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ŐĂŝŶƐ ŝŶ DK /> (+2.4%). The ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚĞdž ůĞĚ ůŽƐĞƌƐ͕ ĚŽǁŶ Ϯ͘Ϭй ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ E/' Z/ E Z t Z/ ^ (-6.7%) and NESTLE (ϭ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ŝŶĚĞdž ĨĞůů Ϭ͘ϲй ĚƌŝǀĞŶ ůĂƌŐĞůLJ ďLJ
10 SEPLAT Petroleum Development C 11 Access Bank PLC
/ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ďLJ Ϭ͘ϭй͘
-1.5%
5.95
1.7%
2.9%
-12.5%
-8.5%
19.1%
2.1%
1.8x
0.4x
12 Ecobank Transnational Inc
13.80
2.2%
2.7%
-1.4%
-3.5%
12.1%
1.0%
4.4x
0.5x
13 Stanbic IBTC Holdings PLC
47.80
-0.6%
2.6%
-0.3%
-0.3%
34.5%
4.7%
6.7x
2.1x
3.1%
14 Unilever Nigeria PLC
38.70
0.0%
2.5%
4.6%
4.6%
14.7%
9.0%
19.1x
2.7x
1.3%
5.2%
15 Lafarge Africa PLC
13.00
0.4%
1.7%
4.4%
8.3%
-53.7%
-7.9%
0.9x
11.2%
-48.4%
23.0%
16 Guinness Nigeria PLC
64.00
0.0%
1.1%
-11.1%
-11.1%
8.5%
4.5%
17.9x
1.6x
2.9%
5.6%
80.00
0.0%
1.3%
5.0%
5.0%
39.3%
29.7%
7.6x
2.6x
3.8%
13.1%
18 Total Nigeria PLC
200.00
0.0%
1.2%
-1.5%
-1.5%
34.6%
7.5%
7.0x
2.2x
8.5%
14.3%
19 11 PLC
170.00
2.4%
1.1%
-8.4%
-8.4%
38.0%
16.8%
5.7x
1.9x
4.7%
17.6%
5.3%
11.4%
20 Flour Mills of Nigeria PLC
19.00
0.0%
0.9%
-17.7%
-14.4%
6.6%
2.0%
8.8x
0.5x
21 Oando PLC
5.85
0.0%
1.3%
17.0%
21.9%
10.9%
1.7%
4.9x
0.4x
22 Fidelity Bank PLC
2.21
4.7%
1.2%
8.9%
8.9%
11.3%
1.5%
2.9x
0.3x
5.0%
23 Transnational Corp of Nigeria
1.22
0.0%
0.9%
-7.6%
-3.2%
19.3%
4.3%
4.0x
0.7x
2.5%
25.2%
24 Dangote Sugar Refinery PLC
13.80
-0.7%
0.8%
-9.5%
-6.8%
32.6%
16.4%
5.5x
1.6x
9.1%
18.2%
25 Diamond Bank PLC
2.42
-1.6%
0.9%
12.6%
-5.8%
-0.7%
26 FCMB Group Plc
1.92
6.7%
0.6%
1.6%
6.7%
8.4%
1.2%
2.5x
0.2x
5.2%
27 UAC of Nigeria PLC
7.70
-0.6%
0.4%
-21.0%
-19.4%
0.4%
0.2%
60.6x
0.3x
8.4%
1.7%
28 Sterling Bank PLC
2.35
2.2%
0.6%
23.7%
23.7%
10.6%
1.1%
6.2x
0.6x
0.9%
16.2%
20.5%
0.3x
29 Presco PLC
68.00
-9.3%
0.4%
6.3%
6.3%
37.0%
24.8%
2.7x
0.9x
2.9%
37.2%
20.70
0.0%
0.4%
15.0%
15.0%
47.0%
17.5%
10.8x
4.8x
7.2%
9.3%
31 Forte Oil PLC
28.00
0.0%
0.3%
-2.4%
0.0%
84.6%
8.3%
11.5x
2.1x
8.7%
32 Union Bank of Nigeria PLC
6.85
0.0%
0.4%
22.3%
22.3%
5.3%
1.0%
12.4x
0.7x
8.1%
33 Julius Berger Nigeria PLC
27.50
0.0%
0.3%
36.8%
24.4%
31.5%
3.6%
4.0x
1.1x
3.7%
34 PZ Cussons Nigeria PLC
10.85
-1.4%
0.2%
-10.3%
-11.8%
1.0x
1.4%
35 Chemical and Allied Products P
5.9%
37.40
0.0%
0.2%
7.3%
7.3%
66.2%
30.2%
17.5x
11.7x
0.74
4.2%
0.2%
17.5%
17.5%
6.6%
0.8%
8.5x
0.5x
37 Beta Glass PLC
79.00
0.0%
0.2%
15.7%
15.7%
21.1%
14.7%
7.3x
1.4x
1.4%
13.7%
38 Dangote Flour Mills Plc
10.90
-0.5%
0.2%
59.1%
65.2%
14.9%
4.2%
9.7x
1.4x
1.8%
10.4%
39 Transcorp Hotels Plc
5.40
0.0%
0.1%
-11.5%
-9.2%
11.0x
0.7x
2.8%
9.1%
40 AXA Mansard Insurance PLC
2.20
0.0%
0.1%
20.2%
20.2%
9.7x
1.1x
2.7%
10.3%
3.5%
T o p 10 T r a d e s b y V o l u m e
T o p 10 G a i n e r s T ic k er
11.6%
P ric e
P ric e C hg %
M C N IC H OLS
0.66
10.0%
A C C ESS
84.7
1.7%
F IR ST A LUM
0.30
7.1%
UB A
40.9
0.0%
T ic k er
Vo lum e
P ric e C hg %
0.2%
6.7%
Z EN IT H B A N K
22.2
/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ
6.2%
GUA R A N T Y
22.1
4.1%
NP FM CRFB K
1.59
5.3%
CHA M S
20.1
0.0%
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ
F ID ELIT YB K
2.21
4.7%
D IA M ON D B N K
15.1
-1.6%
WEM A B A N K
0.74
4.2%
T R A N SC OR P
8.7
0.0%
36.85
4.1%
FB NH
8.2
0.0%
R EGA LIN S
0.26
4.0%
J A P A ULOIL
8.0
0.0%
LA SA C O
0.31
3.3%
D A N GF LOUR
6.9
-0.5%
GUA R A N T Y
and '> yK^D/d, (-9.1%) led laggards. In spite of LJĞƐƚĞƌĚĂLJΖƐ ĚŽǁŶǁĂƌĚ ŽƵƟŶŐ͕ ǁĞ ŵĂŝŶƚĂŝŶ ŽƵƌ ĐĂƵƟŽƵƐůLJ
T ic k er
P ric e
P ric e C hg %
T ic k er
Value
P ric e C hg %
P R ESC O
68.00
-9.3%
GUA R A N T Y
797.0
4.1%
1.70
-9.1%
A C C ESS
500.0
1.7%
10.50
-9.1%
Z EN IT H B A N K
482.9
0.2%
0.21
-8.7%
UB A
307.9
0.0%
IKEJ A H OT EL GLA XOSM IT H SOVR EN IN S
ŽƉƟŵŝƐƟĐ ŽƵƚůŽŽŬ ĨŽƌ ƚŚĞ ŵĂƌŬĞƚ ŝŶ ƚŚĞ ŶĞĂƌ ƚĞƌŵ͘
Afrinvest West Africa Limited
T o p 10 T r a d e s b y V a l u e
T o p 10 L o s e r s
ĚĂLJ ǁĞƌĞ D E/ ,K>^ (+10.0%), &/Z^d >hD (+7.1%) and
5.7% 11.8%
1.92
& D ;нϲ͘ϳйͿ ǁŚŝůĞ WZ ^ K (-ϵ͘ϯйͿ͕ /< : ,Kd > (-9.1%)
24.9%
36 Wema Bank PLC
0.69
ĂĚǀĂŶĐŝŶŐ ĂŐĂŝŶƐƚ ϭϴ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ƚŽƉ ŐĂŝŶĞƌƐ ĨŽƌ ƚŚĞ
39.8%
30 NASCON Allied Industries PLC
T R A N SEXP R
ƌĞĐŽƌĚĞĚ ƚŚĞ ƉƌĞǀŝŽƵƐ ƐĞƐƐŝŽŶ ĐŽŶƐĞƋƵĞŶƚ ŽŶ ϭϳ ƐƚŽĐŬƐ
34.7%
-29.0%
FCM B
;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘ϵdž ĨƌŽŵ Ϭ͘ϲdž
14.8%
17 Okomu Oil Palm PLC
declines in E D (-2.1%), D E &/d (-4.2%) and NIGERINS (4.6%). Finally, marginal loss in E' D (-Ϭ͘ϯйͿ ĚƌĂŐŐĞĚ ƚŚĞ
5.9x
70.00
-6.7%
D A N GC EM
266.4
-0.3%
R OYA LEX
0.33
-5.7%
ST A N B IC
144.7
-0.6%
N IGER IN S
0.21
-4.5%
N EST LE
106.4
-1.2%
M B EN EF IT
0.23
-4.2%
NB
98.4
-6.7%
N EM
2.30
-2.1%
D A N GF LOUR
74.7
-0.5%
J A IZ B A N K
0.52
-1.9%
FB NH
67.7
0.0%
NB
Brokerage
Asset Management
Investment Research
Ayodeji Ebo | aebo@afrinvest.com
Ola Belgore | obelgore@afrinvest.com
Robert Omotunde | romotunde@afrinvest.com
Adedoyin Allen | aallen@afrinvest.com Oluwarotimi Ashimi | oashimi@afrinvest.com
Jolomi Odonghanro | jodonghanro@afrinvest.com
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WEDNESDAY, MARCH 20, 2019 ˾ T H I S D AY
MARKET NEWS
FG Urged to Use Capital Market to Fund Industrialisation Agenda Goddy Egene The federal government has been called upon to make the capital market the fulcrum of its industrialisation agenda and economic development in order to urgently lead the country out of poverty. Capital market stakeholders made the call yesterday as part of the resolutions at third annual
budget seminar of the Securities and Exchange Commission (SEC) with the theme: “Budgets, Elections and Capital Markets: Risks and Opportunities in 2019,” held in Lagos. Speaking that the workshop, Acting Director General of SEC, Ms. Mary Uduk said government budget affects the economy while the economy in turn affects the capital market.
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
She said: “Stakeholders both local and foreign are interested in the budget and try to analyse how it affects them. Investors also sit down and analyse the budget and that is why the capital market is looking at the impact of the budget and how the market can aid its implementation. The capital market is very important in funding for a lot of projects in the economy. The capital market is important
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 18Mar-2019, unless otherwise stated.
in raising these money to fund the budget. We want to be in the driver seat and contribute to the budget if the federal government. We are interested in driving and contributing to this economy and that is why we are having this seminar. We believe there are a lot of opportunities for the capital market in this budget. There is need for us to seat down again as a capital market community and find ways
of driving the budget.” In his Lead presentation, Head Economic Research, SEC, Dr. Afolabi Olowookere said that opportunities exist for equities and sub- national issuances and urged state governments to explore the capital market for funding of their project. According to Olowookere, opportunities exist for equities and sub- national issuances as
a means to fund the budget. He therefore, called for a lower FGN domestic borrowing to make room for private issuances. He said some of the ways the budget can be funded include “creation of money market-based instruments and trading, commodity trading and derivatives, investing in eligible companies under tax credit scheme as well as attracting restructured oil assets to list.
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 156.64 157.25 -0.91% Afrinvest Plutus Fund 100.00 100.00 8.11% Nigeria International Debt Fund 280.47 281.27 2.80% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.85 0.86 1.25% ACAP Income Funds 0.64 0.64 14.96% 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 13.35% AIICO Balanced Fund 2.28 2.31 2.82% 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 16.95 17.46 2.18% ARM Discovery Fund 363.97 374.95 2.06% ARM Ethical Fund 29.39 30.28 4.09% ARM Money Market Fund 1.00 1.00 13.73% 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 102.47 103.19 1.27% AXA Mansard Money Market Fund 1.00 1.00 13.06% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.76% Paramount Equity Fund 12.10 12.20 2.45% Women's Investment Fund 105.39 105.96 1.73% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 13.24% Cordros Milestone Fund 2023 101.28 101.30 Cordros Milestone Fund 2028 102.14 102.72 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 13.20% Coronation Balanced Fund 0.83 0.84 Coronation Fixed Income Fund 1.16 1.16 3.93% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.32% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.77% 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 1,233.18 1,234.04 4.02% FBN Heritage Fund 144.89 146.14 1.03% FBN Money Market Fund 100.00 100.00 14.17% FBN Nigeria Eurobond (USD) Fund - Institutional 116.61 117.13 2.39% FBN Nigeria Eurobond (USD) Fund - Retail 116.54 117.06 2.58% FBN Nigeria Smart Beta Equity Fund 149.17 151.38 -0.55% 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 N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,996.78 3,029.84 0.47% Coral Income Fund 2,835.27 2,835.27 3.51% 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 13.28% Nigeria Entertainment Fund 108.78 109.44 1.78% 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 100.00 100.00 13.45% Vantage Balanced Fund 2.17 2.19 1.02% Vantage Guaranteed Income Fund 1.00 1.00 14.66% Kedari Investment Fund (KIF) 124.49 124.74 -0.32%
LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.17 1.19 1.99% Lotus Halal Fixed Income Fund 1,100.43 1,100.43 2.86% 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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 1.38 1.40 7.72% PACAM Fixed Income Fund 12.33 12.40 1.06% PACAM Money Market Fund 10.00 10.00 12.90% 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 126.42 127.11 4.76% 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 1.03 1.03 3.00% 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 2,391.49 2,405.73 3.35% Stanbic IBTC Bond Fund 195.60 195.60 2.87% Stanbic IBTC Ethical Fund 0.98 0.99 3.68% Stanbic IBTC Guaranteed Investment Fund 253.01 253.04 2.36% Stanbic IBTC Iman Fund 169.63 171.53 3.98% Stanbic IBTC Money Market Fund 100.00 100.00 13.29% Stanbic IBTC Nigerian Equity Fund 8,615.43 8,721.27 1.50% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 1.32% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.21 1.23 1.60% United Capital Bond Fund 1.65 1.65 3.51% United Capital Equity Fund 0.70 0.72 -0.97% United Capital Money Market Fund 1.00 1.00 14.65% United Capital Eurobond Fund 109.30 109.30 1.90% United Capital Wealth for Women Fund 1.12 1.12 2.35% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.22 11.37 5.80% Zenith Ethical Fund 12.37 12.51 3.19% Zenith Income Fund 21.16 21.16 9.86% Zenith Money Market Fund 1.00 1.00 11.59%
REITS NAV Per Share
Yield / T-Rtn
5.95 119.37 51.97
-39.35% 0.03% 0.00%
Bid Price
Offer Price
Yield / T-Rtn
10.63 113.14 89.26
10.73 115.55 90.92
0.75% -3.55% 0.67%
Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT
EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund
VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund
funds@vetiva.com Bid Price
Offer Price
Yield / T-Rtn
3.98 7.17 14.61 12.31 152.44
4.02 7.25 14.71 12.51 154.44
-0.61% -5.86% -2.27% -0.41% 6.16%
NAV Per Share
Yield / T-Rtn
107.24
17.42%
INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
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Improving Nigeria’s Electricity Supply Industry Through Public Education Vol. 2. Issue 31 March 20, 2019
NIGERIA
How Much Electricity Do Your Appliances Use? Introduction Electricity comes from the conversion of sources of energy such as coal, natural gas, oil, nuclear power, solar power among others. Because it is not easily stored in large quantities, electricity must be generated at or near the time of demand. Electrical devices then receive energy from the generated and transmitted electric current and transform it into useable forms including heat, light or motion. For instance, heating elements in a microwave turn electrical energy into heat so you can warm or cook your food depending on the heat setting. This article explores the idea of electricity use and consumption for different appliances.
Electricity Consumption When you switch on any electrical appliance, it works only when there is a connected electrical power from a source to consume. A unit of this power is known as a WATT, 1000 watts makes up 1 KILOWATT and a 1000 kilowatts makes up 1 MEGAWATT. Different electrical appliances consume varying amounts of watts of power depending on their use, or the power required to carry out their function. For example, the amount of power required to keep a small bulb on for one hour and that required to keep a heavy machinery working are definitely not the same. Therefore, knowing, or at least having an idea of how much your appliances use can help plan your electricity budget, and also save cost. On the other hand, usage matters as much as wattage when it comes to your electricity bill. For instance, although a pumping machine consumes up to three times a deep freezer does, the freezer is usually kept running much longer than a water pump. Therefore, your freezer ends up making up a larger part of your electricity costs.
Every newly acquired electrical appliance comes with a consumption rating either on the bottom or side of the appliance. While some appliances will directly inform you on how many watts it consumes, others may just provide the voltage (volts) and the current (amperes). One can determine the consumption of such appliance by multiplying voltage by the amperes. Table 1 contains a list of electricity consumption ranges for common appliances used at home and in some small businesses. The consumption stated for each appliances applies to one hour of use. Therefore, if an appliance is used for five hours at a stretch, simply multiply the consumption per hour by the number of hours. Same applies to any number of hours of use.
Relating Payments to Electricity Usage Ideally, the amount of money paid by an electricity customer should depend on the number of appliances used in a building, for how long they are run and the customer class the building falls under. An average non maximum demand residential customer would be classified as R2; for which electricity costs an average of N26.27 kilowatt per hour. Assuming this consumer pays N14,000, the customer should get 532.93 kilowatts of electricity. If this customer uses 17.76 kilowatts per day, N14,000 worth of electricity should last for a month assuming 24 hours supply. Similarly, an average non maximum demand commercial customer would be classified as C2; for which electricity costs an average of N40.08 a kilowatt per hour. Such customer will receive 623.75 kilowatts of electricity if he or she pays N25,000. Assuming there is constant power supply for this customer, N25,000 worth of electricity would be sufficient for a month if a maximum of 20.79 kilowatts is used daily.
APPLIANCE
CONSUMPTION PER HOUR (WATTS)
LED Energy Efficient Bulbs
3 – 15; depending on the customer’s purchase
Home Internet Router
5 – 15
Laptop
45 - 65
Incandescent Light Bulb
40 - 100
32” LED Television
20 – 60
Wall Fan
45 – 60
Window Fans
55–250
19” Colour Television
65–110
Ceiling Fans
65–175
49” LED Television
85
CPU / Desktop Computer
Awake = 120/ Asleep = 30 or less
Water Dispenser
100
27” Colour Television
113
32” Colour Television
133
Vacuum Cleaner
200 – 700
Food Blender
300 – 400
Deep Freezer
335 – 350
Refrigerator
750 – 1,000
Microwave oven
750–1,100
Clothes Washing Machine
800
Coffee maker
900 –1,200
Microwave
1000
Home Air Conditioner
1000 – 4,000
Clothes Iron
1,100 – 1,400
Electric Kettle
1,200
Hair dryer
1,200 – 1,875
Dishwasher
1,200 – 2,400
Electric Clothes Dryer
3,000
Water Pumping Machine
3,000
Water Heater (40 gallon)
4,500 – 5,500
Central Air conditioner
15,000
Tankless Water Heater
18,000
Table 1: Electricity Consumption per Hour for Various Appliances It is important to realise that the above analogies would apply mostly to metered customers. Unmetered customers, on the other hand, are still billed through the estimated billing method, therefore, the likelihood of being under or overbilled in many cases is high. Nevertheless, an understanding of how much energy appliances consume Author Ifeoluwatomi Adeniji is a power sector enthusiast
related to the timing of available electricity, can still help provide a fair idea of what a customer should be paying monthly.
Conclusion Knowing the amount of electricity devices consume can significantly contribute to electricity planning and
budgeting for a building, be it residential, commercial or any other customer class. Such knowledge also informs electricity customers on what devices use up the least and most amount of electricity, which in turn, increases the consciousness of cost saving and energy efficiency practices in buildings.
Column Editor Osasu Eghobamien is a power sector analyst
Nextier Power is a consulting firm that provides policy advisory, investment advisory, and support services to the electricity supply industry. The firm aims to use this weekly publication to educate Nigerians on the intricacies of the Nigeria electricity supply industry on the assumption that a more informed public would advocate for the right policies and programmes which, in turn, would lead to a robust market that delivers the electricity needs of Nigerians. This column will cover everything from the basics of the industry to the more intricate, sometimes, complex policies and programmes.
Please send your questions and comments to empower@nextierpower.com. You can also visit www.nextierpower.com for more information on Nigeria’s power sector.
Supported by John D. and Catherine T. MacArthur Foundation
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WEDNESDAY MARCH 20, 2019 ˾ T H I S D AY
INTERNATIONAL
Air Crash: Canada to Assess Boeing 737 MAX Airworthiness without US Canada said Tuesday it will make its own assessment of Boeing’s modifications to its 737 MAX airliners before allowing them to fly again in its airspace, after two crashes
in less than five months. “Of course, when that software change is ready, which is in a number of weeks, we will, in Canada, even if it’s certified by the FAA, we
US Supreme Court Gives Trump Victory on Immigration Detention The Supreme Court on Tuesday endorsed US government authority to detain immigrants awaiting deportation anytime, even years after they have completed prison terms for criminal convictions. Report says the court hands President Donald Trump a victory as he pursues hardline immigration policies. The court ruled 5 to 4 that federal authorities could pick up such immigrants and place them into indefinite detention at any time, not just immediately after they finish their prison sentences. The ruling, authored by conservative Justice Samuel Alito, left open the possibility of individual immigrants challenging the federal law involved in
he said. Earlier in the day, the International Organisation for Migration said 15 people had been picked up, however said the number of those who were on board was unclear. Libya has descended into chaos since the overthrow of long-time autocrat Moamer Gaddafi in a 2011 armed revolt. The North African country has become a major transit route for migrants, mostly Africans, trying to reach Europe by sea. Thousands of migrants have been rescued or have died travelling to Europe.
Chinese Customs Intercept Human Placenta Extract Customs in Central China’s Zhengzhou City, on Tuesday said they intercepted 1,250 vials of human placenta extract. The human placenta is hailed as a tonic and cosmetic panacea in a number of Asian countries. Zhengzhou customs said they found the vials in suspicious mail parcels that arrived from Japan on March 15 and 18, and that no permit was given for their entry. Human placenta extract
in Java Sea October 13, 2018, killing 189 people. The fix had not been completed when an Ethiopian Airlines 737 MAX 8 crashed shortly after takeoff from Addis Ababa March 10, killing 157 people under eerily similar circumstances. But the FAA delayed recommending that the MAX 8 and 9 be grounded in the United States until after virtually every other country had acted.
Canada’s transport ministry, also among the last to ground the plane, has come under fire in the press and from the political opposition for waiting too long. Air Canada, meanwhile, announced it will ground its 24 737 MAX planes until at least July 1, explaining that it does not know when they will be certified to fly again. The airline said there was a “domino effect” from removing the 737s that impacts the
schedule and will affect some customers. “We have been working very hard to minimize that impact,” said Lucie Guillemette, the airline’s executive vice president. The Ethiopian authorities and France’s Bureau of Investigation and Analysis (BEA), which examined the black box flight data, said they found “clear similarities” between the Ethiopian and Lion Air crashes.
the case on constitutional grounds if they are detained long after they have completed their sentences. In dissent, liberal Justice Stephen Breyer questioned whether the US Congress when it wrote the law “meant to allow the government to apprehend people’s years after their release from prison and hold them indefinitely without a bail hearing.” The Trump administration had appealed a lower court ruling in the case that favoured immigrants, a decision it said would undermine the government’s ability to deport immigrants who have committed crimes. Trump has backed limits on legal and illegal immigrants since taking office in January 2017.
Child Dies, 30 Missing as Migrant Boat Sinks Off Libyan Coast A child died and 30 people went missing when a migrant boat sank off the Libyan coast on Tuesday, the Libyan Navy said. “The wooden boat sank after it crashed into rocks near the coast of the western Libyan city of Sabratha,’’ Libyan Navy spokesman Ayoub Qasim told dpa. He said the residents of the city managed to rescue 16 migrants, 13 Africans and three South Asians and recovered the body of a child while 30 others were missing. “The 30 people are likely to have survived as the boat was close to the beaches,’’
will do our own certification,” Transportation Minister Marc Garneau said. Garneau’s comments marked a break from protocol, with Canada traditionally working closely with the Federal Aviation Administration, which regulates the US commercial airline industry. Boeing has been making software modifications to the best-selling aircraft’s MCAS flight stabilization system since a Lion Air 737 MAX 8 crashed
is popular among people, who believe it can cure many diseases and also combats aging. Human placenta has become a thriving black market in China where traditional medical theories also recognise its therapeutic values. However, due to risks of transmission of hepatitis, syphilis or HIV, human placenta extract is strictly supervised and entry without certification is illegal in China.
People being escorted to safety by aid workers at the airport of the coastal city of Beira in central Mozambique after the area was hit by the Cyclone…yesterday AFP
May Tries to Save Brexit Plan After Speaker’s Bombshell British Prime Minister Theresa May held crisis talks with her ministers Tuesday after the speaker of parliament threatened to derail her EU withdrawal plan just 10 days before Brexit day, leaving her strategy in tatters. May is still hoping she can get the divorce agreement she struck with the European Union through parliament before March 29, despite MPs having rejected it twice. But in a dramatic ruling that prompted fury in government and warnings of a constitutional crisis, House of Commons speaker John Bercow said on Monday he could not put it to another vote in its
current form. Weeks of chaotic political deadlock in parliament have already forced May to concede that Brexit must be delayed, amid fears of an economic shock if Britain ends its 46-year membership of the EU with no new arrangements in place. But she had been hoping to ask EU leaders for only a short delay when they meet at a Brussels summit on Thursday, warning that without a deal, any extension would be lengthy. Pro-Brexit newspapers in Britain condemned Bercow as the “Brexit Destroyer” and reports suggested May is now planning to ask for a
12-month delay. “The reality is the best way to deliver on Brexit is to back the prime minister’s deal,” Brexit Secretary Steve Barclay told the BBC. He said cabinet ministers would discuss Bercow’s ruling at their weekly meeting on Tuesday. Meanwhile in Brussels, EU ministers preparing for this week’s summit wait to see the fallout. “There is less clarity today than yesterday,” said George Ciamba, minister delegate for European affairs for Romania, which holds the rotating EU presidency. “We are going to adopt
a number of contingency measures for the worst-case scenario, the worst-case scenario being that Britain leaves without an agreement.” The speaker’s ruling adds further complexity to an already chaotic Brexit process that has exposed deep rifts in parliament. MPs still cannot agree how to implement the 2016 referendum to leave the EU, and voters remain divided almost three years after they voted 52 to 48 percent for Brexit. Even before Bercow’s move, May was by no means certain of getting her deal through parliament after it was decisively rejected in January and then again last week.
Zambian Journalists Welcome Cabinet Approval of Access to Information Bill Journalists in Zambia on Tuesday welcomed the announcement that cabinet has approved the Access to Information Bill, local media reported. On Monday, Minister of Information and Broadcasting Services, Dora Siliya said cabinet approved the longawaited bill during its meeting on Monday.
The Media Institute of Southern Africa (MISA) Zambia Chapter said that the bill was meant to promote proactive and organised dissemination of information to the public. MISA said the announcement was welcome as stakeholders had been waiting for the same bill for years. Hyde Hanguta, ViceChairperson of the media body
said stakeholders are finally happy that the bill has been approved although he noted that the battle was not yet over. Hanguta told newsmen that the government should now inform stakeholders on when the bill will be tabled before parliament. The vice-Chairperson stressed that mere approval by cabinet was not enough.
He further said the government should share with stakeholders the contents of the bill so that they can see what was contained in it in order to avoid speculations. Stakeholders in Zambia have been fighting for the access to information law for years, with successive governments failing to provide it in spite of repeated promises to do so.
WEDNESDAY MARCH 20, 2019 ˾ T H I S D AY
51
NEWSEXTRA
Atiku Resuscitates Alleged Certificate Scam against Buhari Says president does not possess minimum qualification Alex Enumah in Abuja Just when Nigerians thought that the controversy surrounding President Muhammadu Buhari’s school certificate had been rested, the Peoples Democratic Party (PDP) and its presidential candidate in the February 23 election, Alhaji Atiku Abubakar, has
resuscitated it. In the petition filed at the Presidential Election Petition Tribunal on Monday to challenge the president’s victory at the poll, Atiku alleged that Buhari was not qualified to run for the office of the president on the grounds that he did not possess the constitutional minimum qualification of
Seven Persons Feared Dead as Truck Plunges into River Niger in Kogi Yekini Jimoh in Lokoja No fewer than seven persons yesterday lost their lives as the truck in which they were travelling plunged into River Niger at KotonKarfe community in Kogi State. The Kogi State Sector Commander of the Federal Road Safety Corps (FRSC), Mr. Emmanuel Abe, who confirmed the accident, said that the truck plunged into Enyogi river , a tribute of River Niger at about 5a.m.
a school certificate. In the 141-page petition, which contains five grounds, the former vice president and the PDP asked that they be declared the winner of the election. In the alternative, Atiku asked the Presidential Election Petition Tribunal to nullify the election and order a fresh one that would be counted in line with the country’s electoral laws. The petition was filed against the Independent National Electoral
Commission (INEC), Buhari and the APC, as first to third respondent, respectively. Names of 21 Senior Advocates of Nigeria (SANs) and 18 other lawyers appeared on the petition. They were led by Mr. Livy Uzoukwu (SAN). The five grounds of appeal, read, “The 2nd respondent (Buhari) was not duly elected by majority of lawful votes cast at the election. “The election of the 2nd respondent is invalid by
reason of corrupt practices. “The election of the 2nd respondent is invalid by reason of non-compliance with the provisions of the Electoral Act, 2010 (as amended). “The 2nd respondent was at the time of the election not qualified to contest the said election. “The 2nd respondent submitted to the 1st Respondent an affidavit containing false information of a fundamental nature in aid of his qualification for
the said election.” Speaking with journalists on the petition, the PDP National Legal Adviser, Mr. Emmanuel Enoidem, said over 400 witnesses have been assembled from all over the country to testify during the hearing of the petition. Atiku and his party are challenging the electoral victory of Buhari and the APC on the grounds of alleged massive rigging, malpractices and noncompliance with the electoral laws.
He disclosed that 37 persons were involved in the accident, adding that that many others sustained varying degrees of injuries. According to him, both the injured and dead were taken to the Federal Medical Centre and the Kogi State Specialists Hospital, both in Lokoja. The sector commander identified over speeding as the immediate cause of the accident, and appealed to motorists to abide by speed-limit rule
Nigeria’s Democracy May Collapse, PDP South-west Caucus Cries out Segun James The Southwest Elders Caucus of the Peoples Democratic Party (PDP) has warned that Nigeria’s nascent democracy may collapse unless the fairness and equity is allowed to take place in the polity. The elders also submitted “that the Nigerian union has crossed a crucial threshold in the continuous struggle for a summative identity and national wholeness.” In a communique signed by Chief Olabode George, Chief Ebenezer Babatope, Mr. Uthman Shodipe-Dosunmu among others, the elders said: “Surely we do not pray for the collapse of our democracy. But we urge for vigilance and constant monitoring of the affairs of the state. We submit that the Nigerian union has crossed a crucial threshold in the continuous struggle for a summative identity and national wholeness.” They insisted that “the recent general election was fraught with screaming flaws, deliberate sabotage, treachery and outright banditry,” adding that “the Nigerian union deserves peace, harmony, equity and a strengthened bond of brotherhood that will galvanise our country to greater development and prosperity,” even as they called on “all elders, patriots, people of goodwill across our land to speak out with holy courage and boldness about the perceived wrongs and the glaring imbalances in our polity.” The PDP caucus resolved
that the present electoral processes wherein result sheets are physically carried across the country are absolutely primitive and apparently susceptible to all kinds of distortions. “The apparent distortions in Yobe, Borno, Rivers, Lagos, Adamawa, Kano and several other states has diminished the purity of a fledgling democratic state,” they added. The also complained about the situation in the PDP, saying: “We note with great annoyance the mischievous interventions of the PDP national organ as they impose fly-by-night candidates on the states, thereby provoking electoral failures and rank disasters. We insist that we will never again tolerate the interference of outsiders in the affairs of the Southwest. “We urge the PDP leadership to return to the First Principle of fairness, equity and justice. The party must embrace men and women of selflessness and instinctive sacrifice rather than encourage little people who merely serve the hour. We enjoin the PDP national leadership to start rebuilding the broken places and start rectifying the wrongs so as to heal the still festering sores.” They therefore said: “We believe and trust in the indivisibility of the Nigerian union where merit prevails over mediocrity, where justice triumphs over inequity, where tribe and sectarian differences are promptly discarded for the greater good of the country.”
BRAINSTORMING SESSION...
L-R: Chairman, Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler; Permanent Secretary, Special Duties, Ministry of Finance, Dr. M K Dikwa; and Minister of Budget and National Planning , Senator Udoma Udo Udoma, during an interactive session between members of Senate Committee on Finance and Stakeholders on 2019-2021 MTEF/FSP in Abuja...yesterday JULIUS ATOI
One Person Killed, 10 Injured in Osun Boundary Dispute Yinka Kolawole in Osogbo One person has been reportedly killed while 10 others allegedly sustained varying degrees of injuries during the fierce clash that ensued between Moro and Yakoyo communities in Ife North Local Government Area over boundary lines. The former Chief of Army Staff, General Alani Akinrinade (rtd), was alleged to be a party to the dispute. The middle-aged man, Olufemi Folorunso, was allegedly killed around 10.30p.m. by the youths of Yakoyo last Sunday. When THISDAY visited the two communities last Monday evening, there was tension in the area. However, the police were seeing in some strategic places to maintain peace and order. At the palace of Olumoro of Moro, Oba Abidoye Oyeniyi, the residents, mainly youths, gathered to express their anger. An illustrious son of Yakoyo, Akinrinade, it was learnt, came to the palace to appease the people of the neighboring Moro community. The two communities have been at loggerhead over
boundary matter, which has resulted in incessant fracas that have claimed many lives and property. The National President of Moro Progressive Union, Femi Ogundele, at a press conference last Monday alleged that the skirmish started when some people identified to be Akinrinade’s aides were seen cleaning the name of the town from signboards erected on Moro’s land. He said when the people were challenged, they claimed to have been acting on the directive of the retired army general. According to him, Akinrinade later surfaced and admitted to have instructed the people to carry out the assignment. “When he was confronted, he claimed that since he had paid for those portions of land he is presently occupying, he has the right to change the name of the area despite falling within our community. “He is from Yakoyo; we sold the portion of land he is presently occupying to him and we have evidence of payment with legally backed agreement. “We later settled it with the intervention of our royal father and his elder brother,
who facilitated a peace meeting. “But to our utter dismay, few hours after the truce, we started hearing gunshots and before we realised what was happening, a young man had been shot dead. “As if that was not enough, the assailants came to our palace again around 10p.m. and started shooting sporadically. They eventually succeeded in breaking the palace’s gate and vandalised many cars parked within the premises. “The state Commissioner of Police has to come to the scene with her men before the situation could be brought under control, it was really a nightmare for our community,” Ogundele said. He therefore appealed to security agencies to beef up security around the town to prevent further breakdown of law and order. Akinrinade, in his reaction, simply dismissed the crisis as a consequence of youth exuberance and excesses of young people who are largely idle. According to him, “Beyond nomenclature, Yakoyo and Moro are communities of the same origin going by their historical background.
“The crisis started as just a small misunderstanding about where the boundaries lie, whether your house or mine is in Moro or Yakoyo. “You know, the modern system where people start drawing lines and putting signboards are alien to communal cohesion, that is modern. “To me, the crisis was absolutely unnecessary to have even resulted in altercation not to talk of going to the extent of fighting one another. “Unfortunately, when you have a community with so many young people that are not busy, this is the kind of thing you experience.” Also speaking, the Baale Aiyedade of Ojigidiri, Chief Busade Adebagbo, said the incident is not necessary following the meeting preceding the renaming of signposts in the town. He said the land in question belongs to Moro and was sold to Akinrinade, and they have all the necessary documents to prove the ownership of the land. He urged the people of Moro to remain calm and not retaliate over their land.
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NNPC Extends Gas Pipeline to Algeria, Advances Northern Oil Search Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) is to amend its planned northern corridor gas supply line to extend it to Algeria from Kano, a distance of over 2,000 kilometres according to calculations by Google map. The corporation also stated that it is making progress in its search for oil in the northern part of the country, adding that the Kolmani River-II Well, which spud-in was flagged off last month by President Muhammadu Buhari, has so far recorded a drilling progress of 6,700 feet. According to a statement, the Group Managing Director of NNPC, Dr. Maikanti Baru, made the disclosures when he received an award from executives of the Petroleum Technology Association of Nigeria (PETAN). The statement signed by NNPC’s Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, quoted Baru as saying that the target of the corporation for the Kolmani River drill was 14,200 feet, even as he added that the depth could be longer depending on findings. He explained that President Muhammadu Buhari, has been supportive of the corporation’s search for hydrocarbon resources in Kolmani River,
and that its recent foray into inland exploration in parts of the country was part of the government’s plan. Baru told members of PETAN that in furtherance of NNPC’s African integration drive, it was considering extending the ongoing Ajaokuta-Kaduna-Kano (AKK) gas pipeline system across the Sahara to Algeria in North Africa. He reaffirmed the Federal government’s plan to also extend the West African Gas Pipeline (WAGP) to Morocco, and commended PETAN for its contribution to the development of the Nigerian petroleum industry. According to him, the NNPC will continue to support the association. He said in this regards: “My pride in PETAN is that, today, we have the capacity and expertise as Nigerians to carry out any job in the industry that was hitherto done by foreigners. As a champion of Nigerian content, we will continue to support you in whatever way we can.” The statement quoted the Chairman of PETAN, Mr. Bank Anthony Okoroafor, as commending Baru for engineering transformation in every aspect of the petroleum industry since his assumption of office. Okoroafor, cited the
Court Judgment Rekindles Delta APC Crisis I remain senator-elect, says Omo-Agege Omon-Julius Onabu in Asaba Judgment delivered last Monday by a Federal High Court in Asaba on the lingering factional crisis in the Delta State chapter of the All Progressives Congress (APC) has obviously rekindled the party’s factional rivalry. Although the judgement nullified all the actions and appointments made by the Jones Erue-led state executive committee in line with the Chief Cyril Ogodo-led state executive council, Senator Ovie Omo-Agege representing Delta Central, has said he remains the senator-elect for his district despite the verdict by Justice Tosin Adegoke. The court upheld Chief Cyril Ogodo-led executive council as the authentic state APC executive body. Although Ogodo was sworn in as the state chairman of the party by the immediate past APC National Chairman, Chief John Odigie-Oyegun, his successor, Adams Oshiomhole, inaugurated the Erue body. The court also set aside ward and local government executives in the Erue-led executive and upheld the Ogodo wards and local government executives. Delivering the judgment, the presiding Judge, Justice Tosin Adegoke, said primary election conducted by the Erue-led executive body was
null and void, invalidating the nomination of Chief Great Ogboru, Senator Ovie OmoAgege and all other candidates nominated by Erue for the 2019 elections. Since reports of landmark judgment hit the newsstand and airwaves, different groups sympathetic to the Erue faction have launched attacks on the court decision, with some accusing the mainstream APC faction led by Olorogun O’tega Emerhor of ‘anti-party activities’ especially during the recent general election in Delta Central senatorial district. A statement by the APC state Director of Communications, Nick Ovuakporie, under the Erue faction said: “The attention of the APC in Delta State has been drawn to a court judgement being circulated that purportedly conferred legitimacy to a group of impostors parading themselves as State Executive Committee members of the party in state.’’ The statement urged APC faithful in the state ‘’to disregard the charade being celebrated as judgement which is at variance with the consent judgement of the Federal High Court Abuja division. ‘’The party wishes to state unequivocally that Erue is the chairman of the APC in Delta State and that same is not contentious.’’
resumption of exploration in the inland basins and the flag-off of Bonga South–west project, which has been in the shelf for more than 10 years as fruits of Baru’s visionary
leadership and doggedness. He stated that the association decided to honour him in recognition of his works in the industry, adding that PETAN was committed
to the realisation of Nigeria’s four million barrels per day production and 40 billion barrels reserve targets. The NNPC had seven months ago indicated that it
was working with a Chinese consortium to work towards finalising the term sheet for financing of the 614 kilometres (km) AKK pipeline project estimated to cost $2.8 billion.
WELL DESERVED HONOUR…
L-R: Registrar/ CEO, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Seyr Awojobi; daughter of the deceased, Mrs. Kemi Sotuminu (nee Sule); President/ Chairman of CIBN, Dr. Uche Olowu; son of the deceased, Mr. Oludayo Sule; and 1st Vice President, CIBN, Mr. Bayo Olugbemi, at the CIBN Special Governing Council’s valedictory session in honour of the past president of CIBN, Oba Shafi Agbolade Olufemi Sule, in Lagos …yesterday ETOP UKUTT
APC Will Not be Allowed to Rig Supplementary Elections, PDP Assures Sokoto will resist manipulation, says Tambuwal AdedayoAkinwaleinAbuja The Peoples Democratic Party (PDP) has assured that none of the states, where the party is in the lead, ahead of the March 23 supplementary elections would be hijacked by the ruling All Progressives Congress (APC). The main opposition party also assured Nigerians that the votes they freely gave to its presidential candidate in the 2019 general election would never be in vain, saying the mandate given to its candidate, Alhaji Atiku Abubakar
would be recovered. The National Chairman of the party, Prince Uche Secondus, gave the assurance in a statement issued yesterday by the National Publicity Secretary of the party, Mr. Kola Ologbondiyan. Secondus stated the position of the party during a solidarity visit by the leadership of the party to the Sokoto State Governor, Hon. Aminu Tambuwal, yesterday, ahead of Saturday’s supplementary election. He stated: “Nigerians are extremely hurting over the rigging
of the presidential and other elections by the APC, as well as the schemes to forcefully take over states already won by the PDP, leading to the supplementary elections. “The party will surely recover the presidential mandate given to the people’s candidate, Abubakar, and ensure that none of the states where it is in the lead ahead of the March 23 supplementary election will be hijacked by the APC. “Elections are about the will of the people. When you impose yourself on the people - it is not
democracy. Today, Nigerians are unhappy with the way elections were rigged without allowing the will of the people to prevail.” Responding, Tambuwal was quoted to have said that the PDP and the people of Sokoto State are upbeat and fully mobilised to ensure that their will is not subverted. He stressed that they brought their federal might to bear but the will of the people prevailed against them and the party won, yet they declared the election inconclusive.
Navy Tackles Rising Cases of Illegal Fishing, to Acquire DedicatedVessels Chiemelie Ezeobi Given the astronomical rise of cases of Illegal, Unregulated and Unreported (IUU) fishing in Nigeria’s maritime domain, the Nigerian Navy (NN), yesterday said it has concluded plans with the Federal Department of Fisheries for the acquisition of dedicated vessels to contain the menace. The Chief of the Naval Staff (CNS), Vice Admiral Ibok-Ete Ibas, who was represented by the Naval Chief of Policy and Plans, Rear Admiral Beegroy Ibe-Enwo, made this disclosure in Lagos at the ongoing three-day Senior Leadership Symposium. Comprising naval forces of 31 countries, including 20 African navies and 11 foreign countries, the event was part of the 2019 Obangame Express, hosted by the US Naval Forces Africa (US
NAVAF). Acknowledging the worsening security situation in the Gulf of Guinea (GoG), Ibas noted that collaboration between the navy, maritime stakeholders in the country and regional forces were addressing the issues, adding that 30 vessels were arrested last year, representing an improvement on the 37 and 45 arrests recorded in 2016 and 2017, respectively. He said the Nigerian Navy had as of December 2018, handed over 247 cases to prosecuting agencies such as the Economic and Financial Crimes Commission (EFCC) and the Nigerian Security and Civil Defence Corps (NSCDC), of which 51 had been successfully prosecuted. “What is even more disturbing is that many of the activities associated with the evolving
threat scenario are directed at the economic lifeline of both littoral and land-locked member states. “In other words, the scourge of various forms of illegalities, such as sea robbery, piracy, crude oil theft, poaching, human and illicit trafficking of weapons and drugs among others constitute serious challenges to the development of all countries in our region. “In prosecuting these threatening factors, the periodic assessment of the efforts is a credible tool. Accordingly, the interrogation of the implementation level of the Yaoundé Code of Conduct, a major regional framework for maritime security, is unarguably overdue at over six years of existence. “As maritime insecurity progressively assumes transnational character, transborder cooperation increasingly becomes the sine qua non in the mitigation of illicit maritime
activities. “The NN also engages regularly with stakeholders and has taken measures to enhance law enforcement within the maritime domain. One positive outcome of such consultation is the launch of the Harmonised Standard Operating Procedures (HSOP) on Arrest, Detention and Prosecution of Vessels and Persons (HSOP AD&P) in Nigeria’s Maritime Environment in January 2017. “Further to the launch, the NN constantly engages with the Office of the Honourable Attorney General of the Federation (HAGF) on modalities for implementation while stakeholders meetings with private maritime logistic support companies and the oil and gas sub-sector are convened periodically.
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CBN Has Addressed Gender Disparities, Says Emefiele Ahmed canvasses gender-sensitive budgeting
Francis Ndubuisi and James Emejo in Abuja The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said the bank has made remarkable progress in closing the gender gap in the institution. He said: “It is heartening that today, women represent 29.0 per cent of CBN staff and 29.0 percent of directors are women. Eight departmental directors and one Director General of WAMZ as against 26.0 per cent of staff and 25.0 percent of directors in 2014. Similarly, three out of 11 board members are women (27 percent).” Speaking at the 2019 CBN Commemoration of the International Women’s Day (IWD) with the theme: ‘Investing for Equality, Balance for Better’, the apex bank boss, however, noted that despite overwhelming evidence that gender equality remained a driver for economic growth and prerequisite for achieving the 2030 global development agenda (The Sustainable Development Goals), progress in gender parity had
been slow. He said research findings had spotlighted the significance of gender equality in economic development. According to him, “McKinsey (2017) showed that if women’s economic participations were at the same level as men, $28 trillion could be added to the world’s economic growth by 2025. “According to the World Economic Forum Gender Gap Report (2018), there is an average of 32 percent gender gap that needs to be closed, and going by the trend, the overall global gender gap will close in 108 years. “A 2018 study by the IMF showed that greater inclusion of women as users, providers, and regulators of financial services have benefits beyond addressing gender inequality. Narrowing the gender gap would foster greater stability in the banking system and enhance economic growth. It could also contribute to more effective monetary and fiscal policy. “The study also found that the gender gap in leadership
does make a difference when it comes to bank stability. Banks with higher proportion of women board members had higher capital buffers, a lower ratio of nonperforming loans, and greater resistance to stress. “Similarly, according to Lagarde (2019), adding one more woman in a firm’s senior management or corporate board-
while keeping the size of the board unchanged-is associated with an 8–13 basis point higher return on assets. If banks and financial supervisors increased the share of women in senior positions, the banking sector would be more stable too.” Nonetheless, Emefiele submitted that although gender diversity in central banks had
improved over the years, a lot more still need to be done to achieve parity. He said: “We are celebrating a milestone today because of the progress made to address gender disparities in CBN. Actions taken by the bank to advance equality in the workplace include training and skills development, increased employment and leadership
positions for women, diversity and inclusion initiatives, supporting female employees to balance work and family life (through child care support, extended maternity leave among others), coaching and mentoring programme to increase knowledge and skills that are necessary for achieving our organisational goals and objectives.”
Court Dismisses Suit against Oyo Governor-elect, Affirms CELEBRATION OF VICTORY… His Candidature Enugu State Governor, Hon. Ifeanyi Ugwuanyi (left), and Chairman, Post Primary Schools Management Board (PPSMB), Mr. Nestor Ezeme, Kemi Olaitan in Ibadan
An Ibadan High Court presided over by Justice Ganiyu Sumonu, yesterday dismissed the suit by a gubernatorial aspirant of the Peoples Democratic Party (PDP) , Senator Ayoade Adeseun, challenging the emergence of the governorelect of Oyo State, Mr. Seyi Makinde, as the party’s flagbearer in October last year. Makinde while reacting to the judgment which dismissed all the grounds of the case, hailed it as victory for the people Adeseun, dissatisfied with the primary election that produced Makinde as the PDP candidate, had approached the court, claiming that the list of delegates that participated in the election was doctored, urging it to declare the primary election of the party as undemocratic, null, void and of no effect. During the court proceeding, which started in January 2019, the claimant’s counsel, Michael Lana, presented 14 witnesses, while the defendant’s counsel presented eight witnesses. But in his judgment, Justice Sumonu said Adeseun’s counsel could not prove with substantial evidence that the delegates list for the primary was doctored, saying “he who asserts must prove. The claimants must provide the names that were removed, to prove that the list was doctored.” Adeseun while speaking with journalists said there was no official reaction for now, adding “we will study the judgment to know the next line of action.”
One of the lawyers of the first defendant, Lateef Aedigba, said his client would be happy with the outcome of the judgment. According to him, “the claimant filed the case as far back as October last year, challenging the primary election conducted in respect of all elective posts by the PDP. That the primary did not follow the constitution, as well the constitution of the party, the 1979 constitution of the federal republic of Nigeria, the electoral acts as well as other relevant law. “By the virtue of the judgment read today, the judge disagreed with them and agreed with us that the primaries conducted were in order and they were in accordance with the constitution of the first respondent, that is the PDP, as well as the Constitution, the Electoral Act, as well as all the other relevant laws. That is what the judgment is all about. The primary was in order and perfect.” Makinde, however, appealed to the people of the state to move on in spite of the little distraction caused by the dismissed case. The governor-elect in a statement signed by Mr. Dotun Oyelade, said it was the hallmark of democracy that the minority’s opinion must be heard but must not be allowed to overwhelm that of the majority. He said that was what the judgment of the court just proved and lauded the court for being objective and dispassionate in its judgment “inspite of obvious extra judicial interventions.”
acknowledging cheers from jubilant teachers of the state, during their programme to celebrate the governor’s resounding victory at the governorship election in Enugu… yesterday
Bauchi PDP Urges INEC to Respect Laws of the Land Segun Awofadeji in Bauchi The Bauchi State chapter of the Peoples Democratic Party (PDP) has urged the Independent National Electoral Commission (INEC) to respect the laws of the land. The main opposition party has also urged the electoral body to be fair, just and credible in its dealings with it regarding the conduct of the gubernatorial election in the state. The state Chairman of the PDP, Hamza Koshe Akuyam, while reacting to the development arising
from the court order of the Federal High Court in Abuja which stopped INEC from going on with the collation of the gubernatorial election results from Tafawa-Balewa LGA earlier scheduled for yesterday, emphasised the need for INEC to be seen to be a body that respects the law of the land. According to him, “the decision of the INEC to jettison resumption of collation of gubernatorial election results from Tafawa-Balewa LGA was very unfortunate and uncalled for despite the court order because according to him
considering the provision of section 87 of Electoral Act 2010 as amended, no court can stop INEC from performing its function in relation to electoral process. Akuyam while speaking to journalists, said that, “if the court will refuse to grant the request to stop INEC in Adamawa State on the issue of election, I see no reason why that of Bauchi State should be different. Are we having a different law to determine the same issue in every state? “ He added that he PDP will not allow the matter to just go like that even though he called
on supporters of the party to remain law-abiding and orderly, assuring that no one can take away the mandate given to the party by the teeming people of the state who are tired of the misrule of the APC . The PDP chairman expressed optimism that no matter how long it takes for the party to pursue the case it will do so declaring that, “the point is that we won the election in the state, results have been collated and all that remains to be done is to declare and announce result. All we are waiting for is the completion of the process “.
HOUSE TO INVESTIGATE MILITARY INVOLVEMENT IN GENERAL ELECTION government to investigate the illegal deployment of the armed personnel in Rivers State and other states during the 2019 general election with a view to sanctioning the military personnel and their civilian collaborators who engaged in the intimidation and brutal killing of voters who trooped out to exercise their franchise. Falana said the information available revealed that the Nigerian Army was not deployed by the INEC to provide security in any of the collation centres in Rivers State, neither were they deployed by the Commanderin-Chief of the Armed Forces. Falana noted in a statement issued yesterday that the Nigerian Army
reacted to the report of the fact- finding committee set up by the INEC, and denied military involvement in the intimidation and killing of unarmed voters in Port Harcourt. He said it was curious that the Nigerian Army, which had set up a panel to probe the illegal activities of its personnel in the Rivers State governorship election could turn around to attack INEC for arriving at the same conclusion. “In 2014, the PDP-led government deployed platoons of armed soldiers to Ekiti State for the gubernatorial election. A week before the election, the army banned two APC governors- Adams Oshiomhole and Mr. Rotimi
Amaechi from entering Ekiti State. During the election the voters were subjected to horrendous harrassment by the armed troops. The Court of Appeal condemned the illegal militarisation of the election. Embarrassed by the judicial indictment the authorities of the Nigerian Army probed the intimidation of voters in Ekiti State and flushed out the military personnel who exposed the Nigerian Armed Forces to ridicule,” Falana explained. He added that, ‘’it is pertinent to point out that as a result the several cases filed by the chieftains of the former ACN and CPC as well as APC from 2003 to 2015, our courts declared the deployment of the armed forces in the
conduct of elections in Nigeria illegal and unconstitutional. Consequently, the amendments of the Electoral Act 2010 on March 27, 2015 empowered INEC to deploy security agencies during elections. He concluded by stating that, ‘’in this day and age in this country that has been independent for 59 years we can still witness horrendous acts by security officers who ought to dutifully ensure peace and tranquility in the election process, suddenly turning themselves into agents of destruction, and introduced mayhem to what ordinarily would have been a civilised way of exercising franchise by the people who are sovereign, is regrettable.”
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Usani: Without Buhari, APC will Lose Value Says zoning re-enacts rivalry among power blocs Onyebuchi Ezigbo in Abuja The Minister of Delta Affairs, Pastor Usani Uguru Usani, has said that the All Progressives Congress (APC) would have become a shadow of its self but for what he described as the looming image of President Muhammadu Buhari. This is coming as indications emerged that the ruling party is on the verge of fresh power tussle for the principal offices
in the next National Assembly. Speaking to journalists yesterday in Abuja, Usani said that the conduct of some of the party leaders has not portrayed it in good light. The minister also denied allegation leveled against him by some party stakeholders from Cross River State led by the National Vice Chairman, South-south, Ntufam Hilliard Eta that he worked against APC during the just-concluded
Tinubu Denies Dabbling in Kano Elections Regina Ogwuche The National Leader of All Progressives Congress (APC), Bola Tinubu, has denied insinuation that he is currently in Kano State meddling in the state’s elections. A statement issued yesterday by his spokesman, Mr. Tunde Rahman, clarified that the former Lagos State governor is not in Kano and has not been in Kano at any point during the conduct of these elections. “The picture that these liars are circulating of Asiwaju and Governor Ganduje is one that was taken last year when the governor visited Lagos,” Rahman said. Tinubu’s media adviser argued that those peddling the rumour know the picture is not true, but “they still use it because their relationship to the truth is an adversarial one.” According to him, Tinubu has nothing but utmost admiration
and respect to the people of Kano, stressing that Kano brand of progressives politics provided the impetus for the formation of the APC. “For the record, Asiwaju is not in Kano and has not been in Kano at any point during the conduct of these elections. The picture that these liars are circulating of Asiwaju and Governor Ganduje is one that was taken last year when the governor visited Lagos. The fear-mongers know the picture is old and was taken in Lagos. They still use it because their relationship to the truth is an adversarial one. Scratch a liar and you will find a hypocrite as well. These people encouraged and cheered when former Vice President AtikuAbubakar and outgoing Senate President, Bukola Saraki led a posse of Peoples Democratic Party figures into Lagos, boasting they were going to ‘capture Lagos’ during the governorship elections.”
governorship election in Cross Rivers state. He specifically described some party men from his home state, Cross River State as “green pasture” politicians. While reacting to his suspension by the national leadership and the present state of affairs within the ruling party, the minister said it was unfortunate that most of the core values that endeared APC to people were being eroded by the conduct of some of its leaders. “I have always been quiet, not talking to the press on these issues because the constitution of the party says
we don’t go to the press. But when the managers of the system violate their own rules, then it means that anarchy does not allow the institution to stand. And then you see what the APC image is today. “The president’s image is what keeps the party standing today as if there is any form of a party. Otherwise, by conduct we have lost every value of the initial concept which brought honour to the party. Here, we have the privilege of speaking out because further silence in the face of the falsehood in the market will suggest that I am guilty,” he said.
Usani who used the opportunity to respond to a petition written against him to President Buhari by a faction of the leadership of APC in Cross River State, described the allegation as blatant falsehood, adding that he had no justification to work against a party he has been with for many years. He said that he rejected all the offers made to him by the Peoples Democratic Party (PDP) in the last 16 years before he became minister. Usani said he had replied a petition sent to President Muhammadu Buhari by the Hilliard Eta-led South-south leadership of APC.
The minister said some of the signatories to the petition against him “subscribed to supporting the PDP presidential candidate and supporting their personal ambitions, which created much confusion. The selection of Abuja residents, who pose as owners of the party by gaining patronage of the National Chairman, has some shameful undercurrents that I cannot pronounce in this document,” he said. Meanwhile, THISDAY has gathered that the ruling party is on the verge of fresh power tussle for the principal offices at the next National Assembly.
STOP HUMAN TRAFFICKING… Bayelsa Commissioner, Father LET’S L-R: Commissioner for Justice and Attorney General of Edo State, Prof. Yinka Omorogbe; Chief of Staff to the Governor, ChiefTaiwo Akerele; State Governor, Mr. Godwin Obaseki; Director-General, National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Julie of Slain PDP Chieftain Testify Edo Okah-Donli; and Director, Research and Programme Development, NAPTIP, Mr. Godwin Morka, during a courtesy visit by NAPTIP officials to the governor, at Government House, in Benin City...yesterday Before Panel of Inquiry The Bayelsa State Commissioner for Agriculture, Mr. Doodei Week, and Chief Moses Taribi, father of a slain PDP chieftain, Seidougha Taribi, have testified before state’s Commission òf Inquiry into the Violence, Mayhem, and Breach of Peace before, during and after the presidential , National and State House òf Assembly elections in Yenagoa. The commission was set up by the State Governor, Henry Seriake Dickson, to look into the violence and brazen violation of the law that rocked the last election in the state. Week and Taribi testified before the commission of inquiry to give evidence on the circumstances that led to the gruesome killing of Government House Photographer, Mr. Reginald Dei and the leader of the PDP in Oweikorogha, Southern Ijaw Local Government Area. The father of the slain PDP Chieftain, Chief Moses Taribi and the Agric Commissioner, Doodei, testified that the duo were killed by soldiers on the day of the last House of Assembly election. They alleged that one ThankGod Deizigha and his son Diton, from the same Oweikorogha community led the soldiers to the residence of the slain PDP Chieftain, Seidougha, where the two were shot. While Seidougha Taribi died on the spot, the Government House Photographer, Dei died after battling for survival for a week in a Yenagoa Hospital in March 4, 2019.
The father of the deceased, and the Commissioner òf Agriculture also gave further evidence before the commission. Also, the member representing the Nembe Constituency 2, in the Bayelsa State House òf Assembly, Mrs. Ingo Iwowari-Gold, told the commission that gunmen attacked her father’s palace a few metres from where election materials were being guarded by soldiers and policemen on February 22, 2019. The lawmaker who presented photographic evidence of her bullet ridden house and vehicles, described the attack as an assassination attempt carried out by a collusion of thugs of the All Progressives Congress (APC) and soldiers. She told the panel sitting under the chairmanship òf Justice Inikade Eradiri that the soldiers deployed in Nembe Bassambiri and other security agencies ignored her calls. According to her, it took the state-owned Operation Doo Akpo to move from Yenagoa to rescue her on the day of the attack on February 22, 2019. She described the results declared by the Indepedent National Electoral Commission (INEC) in Nembe Bassambiri as a charade. She maintained that the materials for the election were taken to Dairus Hotel for thumb printing on the day of the presidential and National Assembly election.
FG’s Fiscal Strategy Targets Growth-enhancing Sectors, Udoma Tells Senate Iyobosa Uwugiaren in Abuja The Budget and National Planning Minister, Senator Udoma Udo Udoma, yesterday told the Senate Committee on Finance that some slight adjustments had been effected on the 2019 Medium Term Fiscal Framework and Fiscal Strategy Paper (MTEF/FSP) between when it was approved by the Federal Executive Council and the finalisation of the 2019 Budget Proposals. The Special Adviser (Media and Communication) to the minister, Mr. Akpandem James, quoted
Udoma as saying this while briefing the committee on the 2019 Revenue and Expenditure Projections. He said that the adjustment only affected the expenditure levels as it was done to reflect some unanticipated expenditure items and the consequences of those adjustments. The key assumptions and macro-framework of the 2019 Budget targets 2.3 million barrels per day (mbpd) of oil production at an oil benchmark price of $60 per barrel; exchange rate of N305 per Dollar, Inflation rate at 9.98
per cent, Nominal consumption of N119.28 trillion, Nominal GDP at N139.65 trillion and GDP growth rate of 3.01 per cent Before giving an overview of the 2019 Expenditure Framework, the minister briefed the committee on the 2018 expenditure outturns, stating that of the total appropriation of N9.12 trillion, N7.24 trillion had been spent as at December 31, 2018; representing 79 per cent performance. He indicated that debt service and the implementation of non-debt recurrent expenditure, including payment of workers’
salaries and pensions, were on track. The minister also explained that capital releases only commenced after the signing of the 2018 budget on June 20, 2018; and as at January 11, 2019, a total of N1.226 trillion had been released for capital projects. Spending on capital, he explained further, was prioritised in favour of critical ongoing infrastructural projects in the power, roads, rail and agriculture sectors. “Implementation of the 2018 capital budget will continue into 2019 until the 2019 Budget is passed into law,” he pointed out.
No Plan to Sell Lagos Trade Fair Complex, BPE Reassures Ndubuisi Francis in Abuja The Bureau of Public Enterprises (BPE) has declared that the federal government does not intend to sell the Lagos International Trade Fair Complex (LITFC), but would rather concession the facility through a competitive transaction process. The privatisation agency’s clarification followed the alleged closure of LITFC by the traders’ associations operating in the complex and the protest by the said associations over the
purported sale of the facility. In a statement issued yesterday, the BPE said: “For the avoidance of doubt, the Bureau states that the Federal Government of Nigeria through the Bureau of Public Enterprises (BPE), does not intend to sell the complex, rather the facility would be concessioned through a competitive transaction process. “It’s for this reason that the government has procured the services of Messrs Feedback Infrastructure Services to advise on the way forward for the
proposed concession. It is apt to inform the public that the Bureau on Friday, March 1, 2019, met with the entire traders’ associations to explain the essence of the planned concession,” the statement issued by BPE’s Head, Public Communication, Amina Tukur Othman, said. The Bureau had on August 23, 2017, placed a Caveat Emptor in some national newspapers in the country wherein, it stated that the lease agreement that was hitherto executed by the FGN in favour of Aulic Nigeria Limited
had been validly terminated and possession reverted to the FGN with effect from August 23, 2017. With that, members of the public were warned that “any purported allotment, buying, selling, letting, leasing, charging, and subdivision, construction upon or dealings in connection with the said property and parcels of land in any other manner howsoever without the written permission of the FGN represented by the BPE is unlawful, illegal, fraudulent and amounts to trespass.”
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ĂœĂ™Ă&#x;Ăš ĂšĂ™ĂœĂžĂ? ĂŽĂ“ĂžĂ™Ăœ Duro Ikhazuagbe Ă—Ă‹Ă“Ă– duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY
AFCON 2019 QUALIFIER
Seychelles’Pirates Land in Nigeria for Eagles
to question marks surrounding their fitness levels. Effiong sustained a knee injury last weekend in a Nigeria Professional Football League clash with Heartland in Okigwe while Balogun has been inactive since February 6 due to a shoulder injury.
Speaking with reporters after the first training session in Asaba yesterday, Rohr appears to have made a U-turn on completely ruling out the home-based players from the AFCON 2019 party in Egypt later in June. ‘’We have invited Effiong from Akwa United, so we have four home-based players,’’ said Rohr at a media parley attended by allnigeriasoccer.com. ‘’We have Udo, the captain of the U-20 team, who played very well in the last U-20 AFCON, then we also have Ezenwa and Valentine who is a tall defender and good. ‘’There is competition for our list for the Africa Cup of Nations.’’ The matches against Seychelles and Egypt should serve as an audition for Ikouwem Udo, Valentine Ozornwafor and Ndifreke Effiong to earn spots on the AFCON roster, given that Ikechukwu Ezenwa will be heading to Egypt as one of the three goalkeepers. After the AFCON 2019 clash with Seychelles, Super Eagles are to also play Pharaohs of Egypt four days later in an international friendly on Tuesday, March 25 as part of the team’s preparations for the finals.
Osman Mohamed Amid from Sudan is the match commissioner. Nigeria is the only African country to have won gold, silver and bronze medals of the Men’s Olympic Football Tournament. Gold was the harvest at the Centennial Games in Atlanta, USA, and silver came in Beijing, China in 2008. The bronze medal
won by the Olympic Eagles at the Games in Brazil in 2016 was the only medal won by the entire Team Nigeria at the fiesta. Africa’s flag-bearers in the Men’s Olympic Football Tournament of Tokyo 2020 will emerge during the 3rd Africa U-23 Cup of Nations to hold in Egypt 8th – 22nd November this year.
Ëž Ă™ ĂŒĂ? Ă?Ă–Ă™ĂĄĂ˜ ÞÙ Ă?Ă‹ĂŒĂ‹ ÞÙÎËã Ă‹Ă’Ă?Ă‹ĂŽ Ă™Ă? ĂœĂ“ĂŽĂ‹ĂŁËŞĂ? ĂŽĂ?Ă‹ĂŽĚ‹ĂœĂ&#x;ĂŒĂŒĂ?Ăœ Ă?Ă–Ă‹Ă?Ă’ Duro Ikhazuagbe Despite not having anything to play for beyond pride, the Pirates of Seychelles flew into Abuja yesterday for Friday’s 2019 Africa Cup of Nations qualifying clash with the Super Eagles. According to Ademola Olajire, the Communications Director of the Nigeria Football Federation (NFF), Seychelles’ 29-man delegation that flew into Abuja aboard an Ethiopian Airline flight yesterday afternoon is to be flown to Asaba, venue of the dead-rubber game this morning. Super Eagles emerged Group E leaders on 10 points and a ticket to the finals. South Africa’s Bafana Bafana who are second behind Eagles are having nine points with Libya third on seven points. Seychelles’ Pirates are out of reckoning on just a point. Only South Africa’s victory over Libya away in Tunisia on Friday can drop Nigeria to the runners-up position of the group going into Friday’s Draw ceremony at CAF’s headquarters in Cairo. Meanwhile, Super Eagles handlers now have full compliments of all the 23 players invited for the AFCON 2019 qualifier against Seychelles.
Super Eagles listening with rapt attention to instructions from Head Coach, Gernot Rohr, during training yesterday evening at the Stephen Keshi Stadium in Asaba
Reports from Asaba yesterday evening indicated that the last five players to join Eagles camp in Asaba include; Hapoel Beer Sheva’s John Ogu, Stoke City’s Oghenekaro Etebo, Anorthosis Famagusta goalkeeper Francis Uzoho, Wolfsburg loanee Victor Osimhen and Galatasaray
forward Henry Onyekuru. Media Officer of the Super Eagles, Toyin Ibitoye confirmed training took place at 4.45pm with all the 23 players present at the Stephen Keshi Stadium, venue of Friday’s clash with the Pirates. The training was open to the media and fans.
Eagles are scheduled to hold three more training sessions before stepping out onto the Stephen Keshi Stadium turf for the AFCON qualifier on Friday. Coach Gernot Rohr is likely to pay special attention to Akwa United’s Ndifreke Effiong and Brighton’s Leon Balogun due
Olympic Eagles Set to Overpower Libya inTunisia Cup holders Nigeria begin the race towards a successful defence of their Africa Under-23 title in Tunisia today when they take on their Libyan counterparts in a first round, first leg encounter of the qualification series. Wednesday’s encounter, which kicks off at 3pm Tunisia time (same as in Nigeria) on the artificial turf of the Ben
Guerdane Stadium in the city of Ben Guerdane, will see Nigeria’s Head Coach, Imama Amapakabo throw in his best dice for a good result ahead of the return leg in Asaba on Monday. Amapakabo travelled with a good blend of home boys and overseas-based professionals. Lobi Stars’ trio of John Lazarus, Ugochukwu Anumudu and Ebube Duru
are joined by Enyimba’s Dare Olatunji and Stephen Egbe, and Wikki Tourists’ goalie Adamu Abubakar among others. Former U17 World Cup winners Taiwo Awoniyi, Kelechi Nwakali, Kingsley Michael, Orji Okonkwo, Chidera Ezeh and Samuel Chukwueze are among the Europe-based who teamed up with the delegation in Tunisia.
Victory today would pave the way to the final round of qualifiers for the champions, which is due in June. CAF has appointed Ghanaian officials to take charge of proceedings, with Daniel Laryea as referee. Acheampong Brobbey is the assistant referee 1 while Emmanuel Allou is assistant referee 2 and Adaar Abdul Latif is the fourth official. Amir
Only the Best D’Tigers for Okpekpe Organisers Give Duke of Edinburgh Cup Timeline for Registration Debuts in Nigeria World Cup, Says Nwora of Athletes Nigeria’s senior men’s bas- by many players eligible to The maiden edition of the people in the society through ketball team Head Coach, Alex Nwora has insisted that only Nigeria’s best players will be selected in D’Tigers’ squad to the 2019 FIBA World Cup for men. Nwora’s announcement followed weekend’s draw that pitted Nigeria against Russia, Argentina and South Korea in Group B. He said that the World Cup is only deserving of the best materials that the country can boast of. The coach who led Nigeria to becoming the first country in the world to qualify for the World Cup scheduled to be hosted in China said it’s time to go back to the drawing board after the euphoria of qualification. “You have to bring your best players to the World Cup. It is not a competition you attend with just any player,� the coach reasoned. With interest being shown
play for Nigeria and positive discussions with some Nigerian players in the NBA, G-league and across Europe, selecting the best will be a priority task for the coaching crew. “There will be a try out. We have to go through our list, see each position and see who is going to be best for each position. There are so many young players in the US and the NBA that we want to integrate into the system.� He promised that every quality player will be given a fair chance to fight for a shirt during the camping exercise expected to start soon. “Being in those camps, we will re-assess those players who played the different windows and that will give us a good chance to see those new players that we will be taking to the World Cup and hopefully those we will use in the future.�
Organisers of the Okpekpe International 10km Road Race have given Wednesday, May 22, as the closing date for registration of athletes for the seventh edition of the only IAAF Silver Label road running event in Africa in 2019 which holds on Saturday May 25 in Okpekpe, Edo State. Zak Amodu, the race’s Director of Organisation said the online registration for the historic race will close on Wednesday, May 22nd, 2019. ‘’Accreditation and number pick up will begin on Thursday, May 23 and end the next day, Friday May 24. It will start at 8:00 a.m. each day at Yak Hotel along Auchi-Benin Road,� revealed Amodu who insisted that there will be no accreditation on race day. ‘’To pick up your race number you will need to print a copy of your order
confirmation email or Order Number and present a form of identification (a driver’s licence, school ID, etc.)�. Amodu who also revealed that those who are unable to make it to the pick-up venue can send a third party to pick it up for them with proper form of identification. “We feel it is important to give this registration timeline very early because of the nature of the race. It is an IAAF silver label race which means it is a world-class race comparable to all the other silver label road races across the globe. “We thus want to tidy up logistics for the administrative and technical organisation of the race very early,� said Amodu Like it was last year, this year’s edition will be the first IAAF Silver Label 10km race of the year.
Duke of Edinburgh (DofE) Cup, a charity golf tournament, created to help cater for the welfare of young people and children who are in need will debut at Ikoyi Club 1938 Golf Club on Saturday March 23, organisers of the event, Concierge Sports has revealed. Representatives of Concierge Sports, Mr. Ibukun Obatoyinbo, said the primary aim of the event is to raise awareness and funds for the DofE International Award, Nigeria, the world’s leading achievement award for young people, available to anyone 14 and 24 years old. “As you can see, the reasons for establishing this event is well pronounced in Nigeria, where our youths especially those from North-East and South-South regions have had to live with scourge of violence and upheaval for many years now. The DofE International Award is therefore aiming to reset the paths of children and young
achievement awards; noncompetitive program of activities that equips them for life and develops them into responsible, committed, dedicated global citizens,� Obatoyinbo said. First played in Portugal in 2001, the Duke of Edinburgh Cup has now spread globally to several regions of the world. Nigeria is now joining the global fraternity. He hinted that this noble idea wouldn’t have been possible without the support of NNPC/Eroton E&P JV, Rite Foods (Bigi brands), Stanbic IBTC, Niger Delta E&P, Megamound Properties Group, Mercure Moorehouse Hotel, Ikoyi, and Lufthansa City Centre/ Tifa Travels among others that brought the event into fruition. The winner and runner-up of the event will enjoy an allexpense paid trip to the World Finals of the Duke of Edinburgh Cup in Windsor, UK later in October.
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INEC to APC “We have been hearing that for a long time, it is not new. Did we change the REC in Akwa Ibom? The prerogative of moving RECs is that of the commission. INEC doesn’t take directive from anybody. If the commission sees the need to move anybody, at the appropriate time, it will do that and if there is no need, it will keep them where they areâ€? – INEC insisting that it would not remove its REC in Rivers State, Obo Eanga.
SAMAMADI GUEST COLUMNIST
2019 Election and Judicial Activism T he famous French political philosopher, Alexis Tocqueville, in his classic: Democracy in America, wisely observes that in the United States no sooner does a political controversy arise than it transforms into a legal dispute. In that disputatious society, the law court is an extension of the public square. Now that the US model of constitutional democracy has traveled across the world and reached Nigeria, we are in the Tocquevillian world where the hooded sages will be asked to determine the most important question of political Nigeria: who should govern? It is official. Vice President Atiku Abubakar has filed a petition at the Presidential Election Tribunal, seeking to nullify the Independent National Electoral Commission’s (INEC) declaration of President Buhari as elected for another four years tenure. As the elections wind up across the country, so many aggrieved politicians are heading to election tribunals to seek relief from a grossly flawed electoral process. Of course, we are used to flawed elections where the incompetence and corruption of the electoral management body result in the overburdening of the judicial system. But the 2019 elections are really flawed, even by Nigerian standard. We have witnessed the court sending away elected governors two or three years into their tenure. We have witnessed tribunals sacking legislators who have almost finished the four-years tenure and requesting them to refund humongous salaries and allowances collected for unlawful duties. In 2015 there was little litigation on the elections. For the first time there was no case against the winner of the presidential election. The sitting president magnanimously accepted his defeat in an election that many of his party leaders believed was rigged in favour of the opposition. The nation heaved a sign of relief. As if taking a cue, many politicians who lost legislative and governorship elections refused to challenge their defeat in the tribunals. Perhaps, the far lower number of cases filed against the results of 2015 elections reflects an upgrade in its credibility or a domino effect of President Jonathan’s extraordinary sportsmanship. With the poor quality of the elections in 2019 and the fact that the defeated presidential candidate has rushed to the tribunal, we will expect a rich harvest of litigation at the various election tribunals. Now, the role of the courts in election matters call into question the legitimacy and desirability of judicial review of elections. Elections are part of political discourse and actions by citizens to decide who exercises political authority in the commonwealth. So, elections are political. The conventional conception of the judicial action is that it is both principled and apolitical. By ‘principled’ it means that its decision draws consistently from general value propositions that have universal validity. By ‘apolitical’ it is meant that the court stays away from contestation as to who gets power and exercises it. The court deals with corrective justice while the legislature and executive deal with distributive justice. The convention is that the merit of the court is that it shields itself from partisan contest to regain the neutrality and independence to settle disputes between the contestants. A partisan court loses the credibility and legitimacy to settle disputes between politically misaligned individuals and entities in the society. So, some have advanced the logic that the judiciary should not insert itself too deep in the political battlefield through electoral disputes because such disputes are, to use the Lon Fuller’s word, polycentric, and defies effective resolution through the typical analytical resources of the
Acting Chief Justice Ibrahim Tanko Mohammed adjudication. Therefore, from the foregoing perspective, electoral disputes are inherently non-justiciable. But this assertion is false or exaggerated in many ways. First, conventional conception of adjudication as merely determination of private rights amongst private parties with bipolar interests and where reliefs flows interdependently from harm has been superceded as the courts responds to the exigence of social justice and stability. The idea of public interest litigation has shifted the role of judges from merely declaring the rights of contestants to ‘legislating’ rules that should guide social interaction and distributive justice in society. This has shaped the court as a political institution, albeit one that acts impartially and on principles and reasoned elaborations. In matter of election, the court ought to embrace its responsibility as a non-partisan political institution. Political scholar, Robert Dahl, in his classic article, The Supreme Court as a National Policymaker, developed the idea of the court as a political institution. According to Dahl, “To consider the Supreme Court of the United States strictly as a legal institution is to underestimate its significance in the American political system, an institution, that is to say, for arriving at decisions on controversial questions of national policy�. The court is an ‘unusual’ political institution. It is unusual because it is non-partisan and arrives at decisions in a principled manner without resort to violence and illogic. This is what makes the court legitimate and credible as a political institution to intervene in terms of national crisis. The last election may bring Nigeria to such a crisis. The reports of daylight brigandage and open manipulations of state institutions by politicians who have access and resources to do so beggars belief. Desperate politicians brushed aside the rules of the game and corrupt and incompetent electoral managers aided and abetted heinous violations. This might probably be our worst election since 1999 as candidates forced returning officers to declare them victors at the threat of loss of life. These candidates cynically challenged the other candidates to go to court, imagining that the arm of the court is too short to retrieve these stolen mandates in electoral matters. Should the court play dead-brain? Should the court restrict itself to the passive mode of private law litigation or should it step up to the role of an undertaker of democratic stability built on the sanctity of the electoral process in a country where political desperation and institutional manipulation threaten to tip the country over the cliff? We need to understand what is at stake in the
2019 elections to understand the need for judicial activism. Scholars and political philosophers have tried to distinguish between a mere regime of elections and a democratic polity. It is true that democracy goes beyond periodic elections as has become fashionable in many of the world’s pseudo democracies. But there can be no democratic polity without free and fair elections. Where elections are abrogated or cynically reduced to competitive oligarchy then democracy has died. In his masterpiece, War, Guns and Votes: Democracy in Dangerous Places, Oxford Scholar, Paul Collier argues that bad electoral system acts as a gravitational force to attract criminal elements who alone can optimize the criminal environment it offers. By a natural selection, ethical and competent persons will shun the electoral process because they are not competitive in exploiting the criminality and violence of the electoral system. So, the fastest way to kill a nascent democracy is to institutionalize bad electoral system. This means that if we don’t fix the flaws in the electoral process the only direction our elections will go is from bad to worse because the criminal environment of election will breed sophisticated criminals who will push it to higher levels of criminality in order to out-compete other criminals. In the meantime, there will be no basis for any significant and sustainable commitment to good governance because you can always win without good performance in office if the electoral system remains violent and criminal. Check out the profile of those elected to govern in executive or legislative offices. Since 1999 they grow from fair to bad to worse. For those who think that after the fiasco of the 2019 election we will work hard to reform the electoral system there is bad news. There is little chance of exiting this reinforcing cycle of doom. We have seen that since 1999 politicians have refused to execute comprehensive reform of the electoral system. The reason is obvious. Politics is a career. To advance your career in politics you must win and win. Manipulable electoral system favours mostly incumbents- president, governors and legislators. So, collectively they won’t want to change the game much because it could enable a successful challenge next time and end their career progress. So, things would probably get worse in 2023. We can’t look to civil society to rescue us from the tragedy of flawed electoral system. Civil society is either too weak or compromised to effect transformation bottom-up. In 2023, things will get worse. You would need a contingent of Nigerian army or a well-armed private militia to win election. You would need to invade the Central Bank of Nigeria and pull through 10 bullion vans to be able to unseat an incumbent. What will be the result? The triumph of warlords and the end of the prospect of democracy and development in Nigeria. The North will remain the poorest part of the world. Most Nigerian children will be illiterates and hungry militants bombing themselves and every other thing in sight. IPOB youths will be chanting down Nigeria in the streets of the southeast while being killed by Nigerian soldiers. Niger Delta youths will still be destroying gas pipelines and increase poverty and instability. Instability will aggravate poverty and poverty will escalate violence. This could be Nigeria after 2023 election if we don’t fix the electoral system. The state of affairs today is that the two branches of government have been captured by virulent and desperately wicked special interests. They are not allowing the people make their choice. The legitimacy and legality of the legislative and executive exercise of power in a democracy rest on
the fact that the people actually chose their leaders. That is the core ideal of the constitution which the judiciary is mandated to protect. The ‘governance’ theory of judicial function argues that whenever the prospect of democratic change of leadership is made impossible through the capture of the electoral process, the judiciary should ‘politically’ intervene through public law adjudication to free the polity from the ‘procedural freeze’ and restore electoral process to its democratic character. That is, the judiciary should step up and assert its right to govern whenever the two ‘partisan’ political branches conspire to derail democracy and make the threat of instability clear and present. It is the judiciary that can save us from the crisis of violent and roguish elections in Nigeria. The court has the institutional integrity and political independence to stop the politicians from nullifying the voice and the will of the people. But what could stand against the judiciary from sorting out Nigerian electoral mess is a passive and retrogressive jurisprudence that fashions the court as only competent to redress private wrongs and not public wrongs. The courts and election tribunals in Nigeria need a new jurisprudence in 2019 that starts with the acceptance of the view of the judiciary as an ‘unusual political institution�, one that its invested with legal authority and popular faith to intervene in political conflicts whenever it seems that the other branches of government have been captured by special interests that frustrate the people from expressing their political preferences. It is true that judges are no ‘Platonic Guardians’, as Judge Learned Hand of the US Supreme Court once said. But they are constitutionally authorized to police the political landscape and review the decisions of presidents, legislators and regulators. If these act in line with the constitution and the expression of the people through a credible electoral system, the judiciary defers to them. If they don’t so act, the judiciary reverses them. This has been the wisdom of constitutional adjudication since Marbury v. Madison. The Nigerian Supreme Court has endorsed this view in several cases. Legal scholar Professor Itsa Sagay, in his magisterial A Legacy for Posterity- The Work of the Supreme Court 1980-1988, chronicled the work of the Supreme Court in this regard and concluded that the Nigerian Supreme Court has rightly pioneered rule of law, human rights and social justice even in the most difficult tyrannical regimes. Today’s judiciary has its work cut out for it. It has to reverse the capture of the electoral system by reversing every electoral result that is procured by fraud, violence or manipulation by the electoral management board. The tribunals and the Supreme Court should consider themselves as exercising ‘the right to govern’ as and unusual political institution’. Just like the Nigerian Supreme Court in the 1980s and the Warren Supreme Court in the United States, the Nigerian judiciary must redirect governance towards justice and respect for the right of the people. In deciding the many electoral cases before it, the judiciary should note that it is not just making decisions between contestants; it is reshaping the normative environment for democratic accountability in Nigeria beyond 2019. It is determining whether we move toward ‘Somalia’ or towards Botswana. Already, by the destruction of the integrity of the electoral system we are on the road to Somalia. The judiciary can pull us back if it rediscovers courage and nullify every violation of the sanctity of democratic elections. r%S 4BN "NBEJ UFBDIFT MBX BU #B[F 6OJWFSTJUZ "CVKB )F JT B MBX BOE HPWFSOBODF QSPGFTTJPOBM
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