FRIDAY 23RD MAY 2025

President to New NNPCL Board: Use Your Experience to Turn Nation’s Economy Around Charges members to build on gains of ongoing economic reforms

Deji Elumoye in Abuja President Bola Tinubu has charged

the new board of the Nigerian National Petroleum Company Limited (NNPCL) to bring the experiences of

Ojulari: Nation’s refineries’ production to rise from 1.5m to 1.9m barrels by end of 2025

its members to bear on the ongoing efforts to transform the country’s economy.

Speaking while inaugurating the NNPC Limited Board at State House, Abuja, on Thursday, Tinubu said he

selected the board members painstakingly to ensure quality leadership.

Group Chief Executive Officer

of NNPC Ltd, Bashir Ojulari, said Continued on page 9

P&ID Victory Demonstrates Nigeria Will Never again Be Exploited, Declares Fagbemi... Page 32 Friday 23 May, 2025 Vol 30. No 11002. Price: N400

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Ribadu: Despite Challenges Nigeria Safer Under Tinubu’s Watch Says 13,543 terrorists killed, 124,408 surrendered in two years Discloses oil exploration to resume in Ogoniland 30 years after

Emmanuel Addeh in Abuja The National Security Adviser

(NSA), Mallam Nuhu Ribadu, yesterday said the federal government and security services

in the country had substantially decimated multi-faceted security challenges inherited by the Bola

Tinubu administration.

The NSA said that through combined security efforts, atroci-

ties such as mass killings, wanton destruction, mass abductions and terrorist attacks on government

installations had been contained.

Continued on page 9

Tinubu Consolidates an Expanding APC, Dwindling Opposition Weighs Counter Options APC apparatchiks endorse president as sole candidate for 2027 Don’t blame people bailing out of sinking ship, I expect more defections, says Tinubu Opposition coalition appoints Mark Chair; Imoke, Amaechi too Story on page 9

APC NATIONAL SUMMIT ON RENEWED HOPE AGENDA...

L–R: Deputy Senate President, Sen. Jubrin Barau; Speaker, House of Representatives, Rt. Hon. Tajudeen Abbas; President Bola Ahmed Tinubu; Senate President, Sen. Godswill Akpabio; Vice President, Sen. Kashim Shettima; Deputy Speaker, Rt. Hon. PHOTO: GODWIN OMOIGUI. Benjamin Kalu; and Sen. Mohammed Tahir Monguno, during the APC National Summit on the Renewed Hope Agenda: The Journey So Far, held at the State House Conference Centre, Presidential Villa, Abuja, yesterday

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THISDAY • FRIDAY, MAY 23, 2025

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0807 401 0580

NEWS

KEYAMO IS NEW CHAIRMAN OF BANJUL ACCORD GROUP...

L–R: Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN), takes over the chairmanship of BAG from the Minister of Transport and Aviation, Republic of Sierra Leone, Alhaji Fandey Turay, after his appointment as Chairman of the Banjul Accord Group (BAG), in Abuja, yesterday

Keyamo Appointed Chairman of West Africa Banjul Accord Group Aviation minister urges African countries to prioritise infrastructure, investment friendly environment

Chinedu Eze in Lagos and Kasim Sumaina in Abuja Minister of Aviation and Aerospace Development of Nigeria, Festus Keyamo, has been appointed Chairman of the Council of Ministers of the Banjul Accord Group (BAG) States.

His appointment was announced yesterday during the 4th Meeting of BAG Council of Ministers, held at Transcorp Hilton Hotel, Abuja.

In a related development, Keyamo urged BAG member states to prioritise aviation infrastructure development and create conducive environment to attract investments.

Speaking during the 4th Council of Ministers after the 18th Plenary Session of BAG in Abuja on Thursday, Keyamo said BAG member states should be prepared to make more concerted efforts for investments in the provision of infrastructure and facilities for safe, secure, environmentally friendly and sustainable civil aviation.

Keyamo attributed his appointment to President Bola Tinubu’s patriotic leadership, saying, “In recognition of our bold and innovative policies in the aviation sector under the leadership of President Bola Ahmed Tinubu, a few hours ago, I was appointed as the new Chairman the West Africa

Banjul Accord Group (BAG) by the Ministers of Transport/Aviation in the West African States.”

The group is made up of seven West African countries that signed the Banjul Accord on January 29, 2004.

It was founded to promote safe, efficient use and development of civil aviation within the member states, which included Cabo Verde, The Gambia, Ghana, Guinea, Liberia, Nigeria, and Sierra Leone.

Keyamo’s appointment reinforced Nigeria’s leading role in improving air travel across West Africa.

Keyamo will take over the chairmanship of the Council of Ministers from the Minister of Transport and Aviation, Republic of Sierra Leone, Alhaji Fandey Turay.

BAG Council of Ministers comprises Ministers of Transport and Aviation from seven West African member states: Nigeria, Cabo Verde, The Gambia, Ghana, Guinea, Liberia, and Sierra Leone.

The special session was attended by high-ranking delegates, including Dr. Jose Luis S.A. Nogueira – Minister of Transport, Cabo Verde, Hon. Ebrima Sillah – Minister of Transport, The Gambia, Hon. Joseph Bukari Nikpe – Minister of Transport and Aviation, Ghana.

Others were Hon. Ousmane Gaoual Diallo – Minister of Infrastructure and Transport, Guinea, Hon. Sirleaf Ralph Tyler – Minister of Transport, Liberia, and Ambassador Alhaji Fanday Turay – Minister of Transport and Aviation, Sierra Leone.

As chairman, Keyamo is expected to provide strategic leadership to the council in driving regional cooperation, harmonisation of aviation policies, and

the implementation of key initiatives aimed at enhancing air transport safety, efficiency, and development in the BAG region.

The Banjul Accord Group (BAG) was established to foster sub-regional cooperation and collaboration in the development of safe and sustainable civil aviation systems in West Africa, in line with ICAO standards and recommended practices.

Minister of State for Industry, Senator John Enoh, yesterday, called for united and concrete measures to usher a new industrial revolution in the country.

Speaking at the opening of the 16th National Council on Industry, Trade and Investment (NCITI), in Lagos, Enoh said the council was not just “another policy gathering – it is a clarion call to transform ambition into action”.

He said, “We stand on the edge of a new industrial dawn. The time to act is not tomorrow – it

is now.”

The minister said the country’s economic transformation hinged squarely on the bold agenda of the Industrial Revolution Work Group (IRWG) – a cross-sectoral initiative he inaugurated in February.

Addressing a high-level audience comprising federal and state officials, captains of industry, and development partners, the minister described IRWG as “a strategic engine room designed to dismantle legacy barriers, ignite real sector productivity, and position Nigeria as a continental powerhouse of value-added

Authority (NCAA), witnessed participation of the seven member countries of BAG. Keyamo pledged Nigeria’s resolve to sustain the support being extended to the sub-region, to attract investment, tourism and continued growth.

He said the recommendations of the 18th Plenary, if implemented, will help improve connectivity within the sub-region.

EU Tags Nigeria, China, Others on Piracy, Counterfeiting ‘Priority’ Nations List Says key seaports serve as maritime gateways for the import of fake products Argues Nigerian courts lack tech infrastructure to handle IP cases

Emmanuel Addeh in Abuja

The European Union’s Trade and Economic Security Commission yesterday listed Nigeria, China, India, Türkiye, Argentina, Brazil, Ecuador, Indonesia, and Thailand as nations of concern in the breach of intellectual property rights globally.

The commission in its biennial report on the Protection and Enforcement of Intellectual Property Rights (IPR) in Third Countries, also identified deficiencies in third countries that cause the greatest economic harm to EU interests.

It stated that counterfeiting and piracy pose a serious risk to the EU

Enoh: We Must Act Now to Usher New Industrial Revolution James Emejo in Abuja

The Abuja meeting also featured high-level discussions on shared air transport challenges, capacity building, infrastructure development, and regional air connectivity.

The appointment of Keyamo is expected to usher in a renewed era of dynamism and progress for BAG member states.

The Council of Ministers Meeting, hosted by the Nigeria Civil Aviation

manufacturing”.

He said, “As the curtain falls on this year’s council meeting, one thing is clear: Nigeria’s industrial story is being rewritten-not in theory, but in steel, concrete, cotton, ethanol, and enterprise.

“This council is not just another policy gathering-it is a clarion call to transform ambition into action. We stand on the edge of a new industrial dawn. The time to act is not tomorrow-it is now.”

In a statement issued by his Senior Special Adviser, Strategic Communications, Ifeoma Williams, Enoh called on stakeholders to “move from

rhetoric to results” by aligning with the IRWG to unlock financing for MSMEs, activate dormant industrial zones, and build thriving, employmentgenerating clusters across the federation.

The 16th session of the council, held under the theme, “Accelerating Diversification by Leveraging Industry, Trade and Investment for Shared Prosperity,” reviewed a total of 75 memoranda, including 40 information items and 30 actionable recommendations, marking a significant step towards a more implementation-focused industrial agenda.

economy, noting that in 2023 alone, EU customs seized 17.5 million individual items with a total value of almost €811 million at its external borders, with online piracy showing increasing trends.

According to the commission, these infringements undermine the EU’s IPR-intensive industries, which contribute to almost half of its total annual Gross Domestic Product (GDP) and generate more than 80 per cent of EU exports, providing valuable and sustainable employment opportunities for society.

“China remains a top priority for EU efforts to protect the Intellectual Property Rights (IPR) of its businesses, innovators or creators, followed closely by India and Türkiye as second priority countries. Argentina, Brazil, Ecuador, Indonesia, Nigeria and Thailand are third priority countries,” it added.

The EU Trade and Economic Security Commission is a portfolio within the European Commission and focuses on aligning trade policy with the EU’s broader economic security objectives.

Launched as part of the EU’s response to rising geopolitical tensions

and supply chain vulnerabilities, the initiative aims to protect the EU’s strategic interests by monitoring foreign investments, securing critical technologies, and strengthening internal economic resilience.

However, it admitted that there had been some progress in IPR protection and enforcement in Nigeria over the reporting period, with the new Nigeria Customs Service Act, as well as a number of other Intellectual Property (IP) laws on track to develop a more robust system.

“Nigeria continues to implement its National Intellectual Property Policy And Strategy adopted in 2022, which seeks to promote a comprehensive IP ecosystem as a catalyst for harnessing the full potential of IPR for sociocultural development and sustainable economic growth,” it stressed.

But the organisation said that the country wasn’t doing enough. For instance, it said that the Industrial Property Commission Bill (IPCOM Bill) presented to the National Assembly in 2016, with the aim to harmonise all current Intellectual Property laws and governing bodies and establish an industrial property commission of Nigeria, was never adopted.

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NEWS

AT SENATE PLENARY...

L–R: Senators Adams Oshiomhole, Ned Nwoko, President of the Senate, Sen. Godswill Akpabio, and Sen. Benson Konbowei, at Senate plenary, yesterday

Now is Right Time to Invest in Nigeria, Shettima Tells Citibank Executives Says fiscal reforms, debt reduction attracting foreign capital, stabilising nation’s economy Deji Elumoye in Abuja Vice President Kashim Shettima has described Nigeria as a prime investment destination following far-reaching economic reforms that have transformed the country’s fiscal landscape and stabilised the currency

regime.

He assured both local and foreign investors of the government’s commitment to securing investments and implementing policies that foster a transparent and enabling business environment.

Speaking Thursday during a

meeting with senior executives from Citibank’s global leadership led by Global Head of Citibank International, Ernesto Torres Cantu, at the State House in Abuja, Shettima said the administration’s bold policy decisions have created unprecedented opportunities for international investors.

Declaring the time to invest in Nigeria is now, he said: “This is the right time to come to Nigeria and the right time to invest in Nigeria.

With the uniform exchange rate, an investor coming into Nigeria will be assured of the stability of the currency.”

He commended the American

EMT Reviews Nigeria’s Trade Strategy, Investment Climate, Infrastructure Planning FRC, BudgIT to partner on transparency in capital budget implementation

Ndubuisi Francis in Abuja

A central feature of the EMT meeting was a detailed presentation

by Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who outlined her ministry’s current priorities.

They included improving investor retention, accelerating export diversification, and addressing regulatory inefficiencies that hinder private sector growth, a statement

by Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga, said.

Manga stated that of particular focus was Nigeria’s ongoing engagement with the United States following the recent proposal by the U.S. Trade Representative to impose a 14 per cent tariff on Nigerian exports.

The statement said, “The EMT reviewed the legal and commercial context surrounding this development, as well as Nigeria’s diplomatic outreach to Washington and multilateral discussions held during the U.S.-Africa CEO Forum in Abidjan.

“In parallel, the Honourable Minister of Transportation, Senator Said Alkali, presented his ministry’s updated budget framework and infrastructure priorities. These include logistics upgrades and project pipelines aimed at reducing bottlenecks and enhancing Nigeria’s trade facilitation capacity.”

At the meeting, EMT reaffirmed its collective resolve to implement transparent, market-led reforms that supported private sector expansion, boosted non-oil exports, and delivered sustainable growth across the Nigerian economy.

In his closing remarks, Edun emphasised the importance of cross-ministerial coordination, stating, “Now is the time for unified action.

By aligning our trade posture with global best practice and ensuring policy consistency, we can unlock greater opportunities for businesses and deepen investor confidence in Nigeria.”

Meanwhile, FRC said it was ready

to partner with BudgiT to boost transparency in Nigeria’s capital budget implementation. This was revealed during a strategic meeting held at the commission’s headquarters, where a delegation from BudgiT formally presented the finalised copy of its Capital Projects Monitoring Manual, a Practical Guide and Framework for Tracking National and Subnational Projects in Nigeria, to FRC. The meeting also served as a platform to discuss key public finance management policy recommendations and explore areas of alignment and collaboration between both organisations.

Nigeria Committed to Digital Future of West Africa, Says Minister

Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of Islamic Development Bank (IsDB) Group, is collaborating with Nigerian Export-Import (NEXIM) Bank to establish a strategic framework aimed at deepening cooperation between ICIEC and NEXIM Bank on key areas that will strengthen the export credit and investment insurance landscape in the country and help enhance exporters’ values in the system.

The collaboration seeks to promote financial and trade relations while driving economic growth across ICIEC’s member states and beyond.

The two entities signed a Memorandum of Understanding (MoU) for cooperation yesterday during the IsDB Group Annual Meetings 2025 held in Algiers, Algeria.

The federal government’s Economic Management Team (EMT) has begun an assessment of Nigeria’s trade strategy, investment climate, and infrastructure planning.

Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun, who chaired a meeting of EMT in his office in Abuja, Thursday, underscored the government’s commitment to positioning Nigeria as a competitive, investor-friendly economy through coordinated policy reforms and diplomatic engagement.

Relatedly, Fiscal Responsibility Commission (FRC) expressed its readiness to partner with BudgiT, a civic tech organisation that promotes transparency and accountability in public finance, to enhance transparency in Nigeria’s capital budget implementation. This was disclosed during a strategic meeting between FRC and BudgiT officials at the commission’s headquarters in Abuja.

Oghenevwede Ohwovoriole in Abuja Minister of Communications, Innovations and Digital Economy, Dr. Bosun Tijani, has declared Nigeria’s commitment to a regional digital future for West Africa. Tijani stated this at the opening ceremony of the 17th edition of West African Internet Governance Forum (WIGF 2025), holding in Abuja.

With the theme, “Building a Resilient, Inclusive, and Safe Digital Future for West Africa,” the event was hosted by National Information

Technology Development Agency (NITDA) According to Tijani, in an era where digital technologies are transforming every facet of life, resilience, inclusivity, and safety are no longer optional, they are essential.

He stated, “As the host country, Nigeria is deeply committed to supporting a robust and equitable digital landscape across West Africa, through initiatives like our Broadband Infrastructure projects, Championing Subsea Cable Resilience, Promoting Data Protection and Privacy - Ac-

celerating Digital Literacy across the nation - Developing our National Artificial Intelligence Strategy.”

Tijani added, “We are working to deepen democratise access to the internet, protect users’ rights, and enable innovation that uplifts our economies and empowers our people.

“We also recognise that these goals cannot be achieved in isolation. They require collaboration between governments, civil society, the private sector, technical communities, academia, and, most importantly, the youth who are the largest drivers of our digital economies.”

bank for its over four decades of consistent presence in Nigeria and noted Citibank’s important role in supporting the country’s economic resilience.

“You have been with us through thick and thin. You have accounted for more than 30 per cent of inward capital into this country. Most recently, you helped us raise $2.1 billion in December 2024. This is a partnership that has stood the test of time,” the Vice President said.

Shettima outlined a series of bold reforms taken since President Bola Tinubu assumed office, which he said previous administrations avoided due to their political sensitivity.

According to him: “When we assumed office, the economy was haemorrhaging due to an over-bloated subsidy regime. Many preferred to kick the can down the road, but the President took the courageous decision to remove the fuel subsidy on his very first day in office”.

In addition to fuel subsidy removal, the Vice President noted the collapse of the dual exchange rate system, which had distorted Nigeria’s foreign exchange market for years.

On fiscal reforms, Shettima described the recently passed tax legislation as the most sweeping in the nation’s history.

“Notably, the reforms reduced

the federal government’s share of Value Added Tax (VAT) revenue from 15% to 10%, while increasing states’ allocation from 50% to 55%, with local governments retaining 35%.

“When we came into office, our debt service-to-revenue ratio was a staggering 111%. Today, we’ve brought it down to manageable levels, thanks to disciplined fiscal management,” he added.

Earlier, Mr. Ernesto Torres Cantú reaffirmed Citibank’s long-term commitment to Nigeria, lauding the government for enacting tough but necessary reforms.

“We’ve been in Nigeria for 41 years, and the reason I came today is because we believe Nigeria is at an inflection point - one that signals a better future for all of Nigerians and the companies”.

He commended the bold economic decisions of President Tinubu, saying, “it’s been a process of reforms that we congratulate the government for making those difficult decisions, but with the confidence that they will go and take Nigeria to a better place for everybody.

“What we do is that we connect Nigerian companies to the world and bring the world’s companies to Nigeria. That is what we’ve been doing for the past 41 years, and we will continue to do so,” Cantu added.

IsDB 2025: ICIEC, NEXIM Bank Forge Strategic Partnership for Export Credit, Investment Insurance in Nigeria Bello: $50m will help transform Nigerian exporters from traders to processors

Sunday Okobi in Algiers

The signing ceremony was attended by senior officials from both organisations, including ICIEC chief executive officer, Dr. Khalid Khalafalla, and Managing Director and CEO at NEXIM Bank, Mr. Abba Bello.

It was disclosed at the ceremony that the partnership would foster the exchange of expertise in export credit and investment insurance, joint marketing, and the development of tailored products for the export and investment markets.

According to Khalafalla, “Capacitybuilding initiatives will ensure NEXIM is equipped to sustain long-term benefits. This strategic positioning will enable NEXIM to leverage its capacity effectively, supported by ICIEC, to achieve its ambitious goals.

“Additionally, NEXIM has joined the AMAN Union, further enhancing its outreach within the export credit insurers of the OIC member states.”

Khalafalla further expressed his

enthusiasm for the new partnership, stating, “This MoU represents a significant milestone in our commitment to supporting the export and investment sectors across our member states.

“By collaborating with NEXIM Bank, we are reinforcing the foundation for increased trade and investment flows, while providing enhanced risk mitigation tools for Nigerian exporters.”

Bello said the partnership aligned with ICIEC’s broader efforts to facilitate trade and investment across its member states and contribute to the realisation of sustainable development goals through innovative insurance and reinsurance solutions.

He added, “The cooperation between ICIEC and NEXIM will play a pivotal role in fostering economic stability and enhancing competitiveness for both entities and their respective stakeholders.”

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COURTESY VISIT BY UBA GROUP MANAGING DIRECTOR TO AILES GROUP...

L-R: Chairman/Group Managing Director, AILES Group, Chief (Dr.) Michael Onuoha; Group Managing Director, UBA Group, Mr. Oliver Alawuba; and Group Company Secretary (GCS) and Director, AILES Group, Photo: Abiodu Ajala Barr. Joseph Oshie Abang (FCArb, FICMC), during a courtesy visit by the UBA Group Managing Director to the Headquarters of AILES Group in Victoria Island, Lagos, yesterday

Jonathan: Nigeria Oil Industry Content Act Was Passed When National Assembly Was Vibrant Stakeholders hail NCDMB for growing local participation to 56% in 15 years Board taps Radisson to manage its 5-start hotel by 2027 Diri canvasses PIA review, divestment deals to address concerns THISDAY, ex-president, Dangote Refinery, Ogbeifun, Renaissance bag Nigerian Content awards

Peter Uzoho in Yenagoa Former President Goodluck Jonathan has said the Nigerian Oil and Gas Industry Content Development (NOGGICD) Act 2010 was passed when the National Assembly was vibrant and truly an independent legislature.

Jonathan made the assertion Wednesday night after receiving the Nigerian Content Lifetime Achievement Award at the Champions of Nigerian Content Awards 2025.

The awards ceremony was part of the activities at the ongoing Nigerian Oil and Gas Opportunity Fair (NOGOF), being held in Yenagoa, the Bayelsa State capital.

THISDAY, Nigerian’s newspaper of record, was also at the event awarded the Nigerian Content Media Organisation of the Year, in recognition of its sterling interpretative and investigative reporting of local content activities in the petroleum sector.

THISDAY’s award was received by the newspaper’s energy reporter, Peter Uzoho.

Jonathan signed the Nigerian Content Bill into law in April 2010 and immediately saw to the establishment of the implementing agency, Nigerian Content Development and Monitoring Board (NCDMB).

The policy has since its introduction brought significant improvement in the upstream sector of the Nigerian

oil and gas industry, with the growth of indigenous participation and incountry capacity. This has resulted in the current 56 per cent growth after 15 years, from a low of just five per cent local capacity utilisation.

Speaking on the occasion, Jonathan said he took the bold step to sign the bill into law to correct the mistake of the past and ensure Nigeria’s oil resources worked for the development of the country.

The former Nigerian leader, who told a story of his encounter with Ugandan President Yoweri Museveni, and the country’s attempt to avoid the mistakes of Nigeria in the manage-

ment of its own oil industry, said experience inspired him to change the narrative in Nigeria’s oil sector through the Local Content Act. Jonathan said Nigeria would have gone farther than where it is in terms of growth and value optimisation in the oil and gas industry if the country had laws designed to protect it at the inception of the industry.

He said, “I brought this story because I used to tell people that if at the beginning of the oil industry, we had laws designed to protect us, Nigeria would have gone farther than this. But we did not have that kind of law.”

quantity at Oloibiri, Bayelsa State, and after the country’s independence in 1960.

Jonathan stated, “The next robust law was the Petroleum Industry Bill (PIB) that we worked on during my government, but luckily in 2021, it was passed into law.

“To me, today makes me quite happy remembering the journey of the Nigerian Content Development and Monitoring Board.

“Then, what is the story about the Nigerian content or the popularly called Local Content Law. I signed that law in April 2010. As at that time, I was acting President. Of

course, you know the story of my becoming acting President. And so, people asked, so why the speed in signing that law?”

He explained that the Nigerian Content Bill originated in the National Assembly as a private-member bill rather than an executive bill, and by a patriotic Rivers State senator, Lee Maeba.

Jonathan said, “Actually, the bill was a private member bill. It was not an executive bill, and I must use this opportunity to commend people like Lee Maeba, a senator from Rivers State. He and other senators came up with the bill.

Tuggar Urges Multilateral Reform Amid Global Fragility Michael Olugbode in Abuja Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has called for renewed commitment to multilateralism and a candid examination of the challenges threatening global peace and governance.

Tuggar made the call at the European Union-African Union Ministerial Follow-Up Committee and the 3rd EU-AU Ministerial Meeting in Brussels, Belgium.

In his statement, Tuggar acknowledged EU’s enduring support for

African-led initiatives, stating, “it is at this point, when discussing peace, security and governance, that the foreign minister of a large African country is meant to outline for his hosts the progress we have made in tackling a host of complex issues – and the outstanding challenges that only closer cooperation can resolve.”

The minister outlined a familiar but pressing list of issues, including proliferation of small weapons; climate change; violent extremism; irregular migration; fragility of democracy; technology; and trade and markets.

LASG Urges All Residents to Conform with State Identification Registration Process The Lagos State Government on Thursday urged all residents to conform with the state’s legal identification registration process in order for the government to make adequate preparation in terms of infrastructure in health, education, environment as well as other sectors in order to accommodate the large influx of the people that come in to the state on daily basis.

Speaking while featuring on an X Space programme:, “Ask Lagos Live”, with the topic: “Lagos, Why People Keep Coming and the Challenges,” Commissioner for the Environment and Water Reaources, Tokunbo Wahab, appealed to residents to ensure they register with the Lagos State Residents Registration Agency (LASRRA) saying it will not only allow government to identify them

Jonathan recalled that the first law that governed the Nigerian oil industry was the Mineral Ordinance of 1886, which he doubted if a Nigerian played any role in its development.

He added that the second law that governed the country’s oil industry was the Mineral Oil Ordinance of 1914, which came the year the country was amalgamated, and which, according to him, many Nigerians did not have knowledge of.

The former president maintained that the law that actually started the oil industry in Nigeria was the Petroleum Act of 1969, which came after the discovery of oil in commercial

but also plan for them.

He said on a daily basis about 6000 people come to Lagos and about 3000 out of them come to stay added that in the past it was not like that but the demography has shifted because of happenings in other part of the country made people migrate majorly to Lagos.

Let me give a context, If you know Lagos, even on the map of Nigeria Lagos, the state has smallest landmass; It’s just like a dot, the size of Lagos is 3,575 square kilometre of land or thereabouts and third of it is water.

The south of Lagos is the Atlantic Ocean and then to the North is Ogun State and Lagos still houses 10% of the Nigeria’s population” he said.

He said the people on daily basis come into the state knowing fully well they have no shelter, but they

come with the mindset of sleeping under the bridge and they rob/attack innocent individuals during the day as well as in the night.

He said the state has it challenges in waste management because the state generates about 13,000 to 14,000 tons of municipal waste which is the biggest in the sub-region added that the government is trying to migrate from the linear to a functional and sustainable waste management system right now.

He emphasized that this sustainability waste management is known as circular economy which is conversation of wastes to wealth, adding it gives every individual the opportunity to make money from generated wastes and the government remains focused to achieve and sustain it.

He challenged the routine nature of such discussions, urging his counterparts to move beyond recitation and towards genuine reflection.

Tuggar stated, “At this point, typically, we all nod and pledge further collective action. And we have indeed seen many positives.”

He said, “But I wonder if perhaps our focus on the symptoms of despair and conflict obscure our vision of the underlying cause and how best we manage the condition.”

Tuggar while pointing to the broader international context, warned about an increasingly fragile global framework.

He said, “We are here today as one of the most prominent expressions of faith in multilateral agencies, a

rules-based international order and the search for common solutions to common problems. And yet we know that it is a framework that has never appeared so fragile.”

The minister cited the disruptive roles played by non-state actors, disinformation, and unregulated digital currencies – factors that posed existential risks to nations, rich and poor alike.

Tuggar reaffirmed Nigeria’s belief in multilateralism and the promise of strategic partnerships.

He highlighted the potential of the African Continental Free Trade Area, Nigeria’s stake in the European Bank for Reconstruction and Development, and regional gains within ECOWAS, including freedom of movement, as a viable economic alternative for

African youth.

He said, “Nigeria believes that agencies survive only when they can adapt to circumstance,” while reiterating Nigeria’s longstanding calls for UN reform, fairer trade, and equitable access to capital.

He lamented that because little had been done in the area of reforms, “We now face even greater uncertainty.”

He addressed the internal pressures faced by African governments, as they struggled to meet rising public expectations with limited capacity.

“It’s a process that crowds out serious debate and empowers political snake oil salesmen,” he warned, stating that while West Africa has witnessed several coups in recent years, “the crisis of democracy is global.”

Encroachment of Benin Moat Worries Gov Okpebholo Says 70 percent of heritage site taken over by land-grabbers

Adibe Emenyonu in Benin City

The Governor Monday Okpebhololed administration in Edo State on Thursday disclosed that 70 percent of the Benin Moat, has been taken over by land-grabbers in the state, noting it is worrisome that such an ancient monument and heritage site recognised by UNESCO could be encroached.

He also said Edo government has uncovered and sealed a hotel built inside a primary school in Esan West Local Government Area of the state The Edo State Coordinator for

the Protection of Government Property, (PGP), Mr. Eugene Okolosie, who disclosed this in a chat with journalists in Benin City however, disclosed that over 2,000 plots of land encroached upon have also been recovered from land-grabbers in the state.

He noted that so far over 150,000 houses in the state are built on government land and appealed to those who want to acquire landed property to clear from Edo Geographic Information Service (Edo GIS) to avoid fallen victims to criminal activities of land grabbers

and speculators.

His words: “A lot of government property have been encroached upon. Seventy percent of our moat, a monument and heritage site, have been taken over and the most affected is our public schools.

In Ambrose Alli University (AAU), alone we have recovered plots of land from land-grabbers.

“The community came to inform us that land-grabbers forged their signatures and we moved into action and recovered about 90 percent of the land back including lands belonging to schools.

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Dangote Refinery Reduces Petrol Prices Again, Sells for N875 in Lagos Partners Vinmar on export of polypropylene

Emmanuel Addeh in Abuja

Again, the Dangote Refinery yesterday announced a fresh cut in the pump price of petrol nationwide, lowering the fuel by about N15 per litre.

In the latest development posted on its social media handles, the management of the 650,000 barrels per day facility, indicated that prices will now range from between N875 to N905 per litre, depending on location in the country.

The refinery reiterated its partnership with some filling stations, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy, urging Nigerians to buy the cheapest and highest quality products across the country.

In the new template, motorists in Lagos will no longer pay N890 per litre, but will in the meantime buy the product for N875, while the North-east and South-south will pay N905 per litre, instead of the N920 they paid hitherto.

Other South-west states will pay N885 per litre, the refinery said, while the North-west and Central will pay N895, urging its customers nationwide to purchase fuel only from its partner outlets.

“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company boasted.

Earlier, the management of the facility had praised the federal government’s naira-for-crude policy for helping tame prices, affirming

that the prices of petrol will continue to remain affordable and stable.

Meanwhile, the Dangote Petroleum Refinery & Petrochemicals has announced an exclusive partnership with Premier Product Marketing LLC, a Vinmar company, to bring Dangote Polypropylene to global markets outside Nigeria and Africa.

The Group Chief Branding and Communications Officer of the company, Anthony Chiejina, said in a statement that the strategic agreement coincided with the launch of polypropylene production at the Dangote’s refinery and petrochemical complex in Lekki, Lagos.

Polypropylene is usually deployed by manufacturers in packaging, automotive parts, textiles, construction materials and medical

devices as a result of its durability, chemical resistance, and lightweight properties.

Chiejina said the plant utilises proven technology to produce high-quality polypropylene grades for a wide range of applications in industries such as packaging, automotive, textiles, and construction.

“We’re pleased to partner with Vinmar to introduce Dangote Polypropylene to the global markets.

Dangote Polypropylene will follow other Dangote products to become a global brand known for quality and reliability,” the Group Executive Director (Commercial), Dangote Group, Fatima Aliko Dangote, was quoted as saying.

Besides, Chief Executive of Vinmar Group, Vishal Goradia,

stated that the company has been a valued customer of the Dangote group in Nigeria for decades.

“We are proud to expand our relationship with Dangote through this important partnership. Vinmar has been honoured to count Dangote as a valued customer in Nigeria for decades, and we are thrilled to now support the global launch of Dangote Polypropylene,” he stressed.

According to the statement, the $2 billion petrochemical plant, is designed to produce 77 grades of polypropylene, with an annual capacity of 900,000 metric tonnes and an expected turnover of $1.2 billion.

“The facility is positioned to meet growing demand in plastic processing industries globally. Established

Tinubu Consolidates an Expanding APC, Dwindling Opposition Weighs Counter Options

Deji Elumoye, Chuks Okocha and Adedayo Akinwale in Abuja

With just less than two years to the 2027 general election, President Bola Tinubu, has begun to consolidate his chances ahead of a potential second term run with an expanding party base amid dwindling opposition that has been hit by mass defections to the ruling party.

At the same time, the opposition coalition, too, has started to mull the options before it, chief of which is to either align with one of the existing parties or form a new one.

This is coming on the heels of a major boost to the President’s 2027 potential bid, as key apparatchiks of the ruling All Progressives Congress (APC), including governors of the party, members of the national assembly and other stakeholders endorsed him for another term in office yesterday.

However, Tinubu, for the first time yesterday, reacted to the unceasing defection from the opposition parties to the APC and the alleged decent to one-party state, saying, “don’t blame a people bailing out a sinking ship. I am expecting more to come.”

The president, who insisted that the development reflected democratic choices, not one-party threat, promised that the next two years would be great for the Nigerian people.

Tinubu, who spoke at the APC National Summit held at the Banquet Hall of the State House, Abuja, also stressed that the 1999 Constitution guaranteed freedom of movement and association.

According to him, it’s one party that was ruling and driving the aspirations of Nigerians.

“You don’t blame a people bailing out a sinking ship. I am expecting more to come, that is the game. We are in a constitutional democracy that guarantees the freedom of movement and the freedom of association.

Welcome to the progressives,” he said.

Responding to concerns that the influx of prominent figures joining the APC could lead Nigeria to a one-party state, the president asserted that the defections demonstrated the democratic preferences and ambitions of the populace.

Tinubu, who was assertive, promised to lead the nation to the

promise land.

“I’m glad about what we have and I’m expecting more to come. That is the game. We’re in a constitutional democracy. Don’t forget the freedom of movement and the freedom of association are not criminally punishable.

“Welcome to the progressives.

Sweep them clean. The endorsement today, the ‘carry go’ expression—I know road. We will lead you on to that promised land,” he declared.

Tinubu’s comments came amid mounting concerns in opposition circles that the political landscape might be tilting dangerously toward single-party dominance.

He gave reassurances on the nation’s economic trajectory, stating that the administration’s efforts to revamp Nigeria’s economy were yielding results.

His words: “The resuscitation of the Nigerian economy is on course. The hope is standing before you—take it on. You are the leaders and the conscience of this country. Nigeria will be industrialised. The next two years will be great. We have the mission, we have the vision.”

Referring to party faithful and supporters, some of whom might feel left out of political appointments thus far, the president called for more patience and trust.

“To many of you I have not offered political positions, be patient, many things are coming,” he said, signaling a broader inclusion strategy as his administration advances.

On the fuel subsidy removal policy, which his administration owned two years ago after it was removed by the administration of former President Muhammadu Buhari, Tinubu said it was well justified, noting that a large chunk of savings from the subsidy regime had gone into healthcare provision, education and security.

The president, however, described his deputy, Kashim Shettima as a member of his administration’s think tank.

“Mr Vice President, even if I will stand on existing protocol, I will recognise you because you are a member of the Think tank,” he said.

2027: APC Apparatchiks Endorse Tinubu

The path to the 2027 presidential

election might have begun to ease off for President Tinubu with about two years to the end of his first term as the governors elected on the platform of the All Progressives Congress (APC), the party’s National Assembly caucus and other members of the APC have thrown their weight behind the president’s re-election.

The vote of confidence passed on the president came at the APC National Summit held on yesterday at the Banquet hall of the Presidential Villa.

The event, which was meant to review the midterm performance of the Tinubu administration was turned to an endorsement summit for his re-election bid.

Chairman of Progressives Governors’ Forum and the Governor of Imo State, Senator Hope Uzodinma, revealed that APC governors met at their meeting on Wednesday and expressed satisfaction on the midterm performance of the president.

“As I speak only this afternoon, members of the Progressive Governors’ Forum met at my lodge and took five different decisions to bring to the leadership and members of our great party. Taking advantage of this summit that we are satisfied with, the mid term review and performance evaluation report of the Renewed Hope Agenda.

“We are aware that Nigerian nation is moving in the right direction, economically, socially and politically, and that we are convinced that under President Bola Ahmed Tinubu, Nigeria will get to her destination faster in prosperity.

“We have made the resolution of these governors that the president to be used and be Adopted as our flag bearer for 2027 presidential election, for the second time in office.

“That the governors produced by All Progressive Congress are hereby charged to take responsibility to manage federal government policies, occupied the political space in their domains and take responsibility for winning all elections in their states,” he said.

Uzodinma, therefore, moved a motion that Tinubu be adopted as the party’s candidate in 2027, and the motion was seconded by the Governor of Kaduna State, Senator Uba Sani.

President of the Senate, Godswill Akpabio, on his part, said though

things were difficult for Tinubu in 2023, he could see everything turning around for him in 2027.

Akpabio recalled that during the campaign for 2023 elections, large rallies in some regions were organised but when votes were announced, Tinubu could not get 25 per cent from those regions.

“So, there is no need for eloquent speeches. Let the results that will come in 2027 reflect the action and the speeches that we are saying here today.

“Please note that in politics, it’s not over until it’s over. It’s the tree that bears the sweetest fruit that also gets the highest amount of stones.

“So, everything said here will show that yes, you are on course.

You did it in Lagos, you are doing it in Nigeria. Even Abuja, the Federal Capital Territory, has changed. The diplomats have confirmed that. This was not the way it was before you came. The economy has changed.

“But the reality is that we are not there yet, and we don’t want them there. Of course, Mischief makers are still meeting in the night, so politics is the game of witchcraft. They meet in the night, and things change in the day.”

On a lighter note, Akpabio faulted Uzodinma for moving the motion to pass vote of confidence in Tinubu, saying as members of the legislative arm, they were in better position to move the motion while Abbas seconded.

On that premise, he said, “I move that the president be returned as the candidate of the APC in 2027 and as the President of Nigeria.”

The motion was seconded by the Speaker of the House of Representatives, Hon. Tajudeen Abbas.

Abbas, while speaking, noted that as they turned their gaze on 2027, they must acknowledge both the achievements they had made and the challenges that lay ahead.

He said this was the time for every APC stakeholder to intensify grassroots engagement, articulate the achievements of the administration in clear and compelling terms.

Abbas added: “Now is the time for every APC stakeholder to take our message directly to our communities.

An electoral victory in 2027 will not be won on paper alone. It can only be secured by the confidence we

Ribadu: Despite Challenges Nigeria Safer Under Tinubu’s Watch

Speaking at the All Progressives Congress (APC) National Summit to mark the two years of the Tinubu administration, the NSA said the administration inherited five interractible crises across the country.

He revealed that as a sign of security improvement, oil exploration will soon resume in Ogoniland, Rivers state, nearly 30 years after the disruption of production in the area.

“For us to appreciate where we are today, it’s important to reflect on where we were before the coming of this administration on May 29, 2023,” Ribadu said.

He recalled that terrorists had a field day up until 2022 when Nigeria witnessed attacks on the

Abuja-Kaduna train, attack on Kuje Prison, a church in Owo and an army battalion in Bwari, Abuja.

He listed the inherited security challenges to include: Boko Haram in the North-east, armed banditry in the North-west, secessionist agitations by the Indigenous People of Biafra (IPOB) in the South-east, Niger Delta unrest in the Southsouth and communal conflicts/ herder-farmer conflicts especially in the North-central.

Ribadu explained that before 2023 over 35,000 and 12,000 persons were claimed by the Boko Haram and banditry crises, respectively, while millions of people were rendered homeless in the affected areas.

The NSA said that with the security agencies working as a team,

challenges such as the sit-at-home in the South-east and sabotage of oil installations in the Niger Delta had been substantially addressed.

Besides, Ribadu said that over 13,543 Boko Haram elements were neutralised in the past two years while over 11,000 arms were recovered and destroyed from the terrorists.

According to him, 124,408 Boko Haram fighters and their families surrendered to troops since the coming of the current administration, stressing that despite some setbacks, operations were ongoing in Tumbuktu Triangle, Tumbu islands and other enclaves, to smoke out the insurgents.

In his remarks, the President of the Senate, Godswill Akpabio,

thanked the president for tackling security challenges in the country.

He noted that the president had been able to streamline and strengthen internal security nationwide.

The senate president stated that there are no longer cases of terrorists taking over territories and hoisting of alien flags by Boko Haram in the country.

Also speaking while moving a vote of confidence to adopt the president as sole candidate of the party in 2027 at the event, the Imo State Governor, Senator Hope Uzodimma, who spoke on behalf of the 22 governors of the party, acknowledged that in spite of the complexity of the security challenges “progress is evident”.

inspire among our people.

“We can only inspire confidence by demonstrating how our policies are improving people’s lives and how they will continue to enhance the lives of Nigerians.

“All of us must effectively market the successes of the Tinubu Administration, specifically the recovery of fiscal health, the job creation drive, the expansion of infrastructure, and the security gains.

“Every APC governor, every APC Senator and Member, every Minister and Commissioner, every Special Adviser and Assistant, every Board Member, and indeed every political appointee of this government must also collaborate with the president to translate his initiatives into tangible benefits that resonate with citizens across every ward.”

In his remarks, the National Chairman of APC, Abdullahi Ganduje, said the forum was not only meant to serve as a convergence of ideas and ideals but as a moment of reflection on where the party stood, what it has achieved, and what lay ahead for it and the country.

He said at the heart of their current political and developmental journey was the Renewed Hope Agenda - a bold and necessary blueprint put forth

by Tinubu.

He stressed that the agenda was not just a political slogan; it was a comprehensive vision aimed at resetting the foundations of governance, restoring

Dangote in 1978, Vinmar is a global leader in the marketing and distribution of petrochemicals, employing over 1,500 people across 58 offices worldwide, and serving customers in more than 110 countries,” the company added. economic vibrancy, and instilling a renewed sense of national purpose.

He said when the president campaigned on the Renewed Hope Agenda, he was not offering empty slogans, he was presenting a contract with the Nigerian people, a bold vision for economic revitalisation, institutional renewal, and inclusive development.

According to him, “Barely two years now into his administration, we can confidently say that Renewed Hope is no longer a vision on paper, it is a reality in motion.”

Ganduje noted that as the governing party, they must rise as the first and most steadfast defenders and implementers of this vision and as progressives.

“As I stand before you, I must stress this truth: we cannot go into the future divided, unprepared, or reactive. The challenges of our nation require a cohesive, disciplined, and ideologically sound party.

“Our goal must not only be to win elections, but to lead with purpose, to earn the trust of Nigerians continuously, and to inspire belief in governance again,” he added.

APC N’Central Backs Tinubu’s Re-election

At another function, the APC North Central zone has also endorsed Tinubu to run for another tenure of four years Continued on page 36

President to New NNPCL Board: Use Your Experience to Turn Nation’s Economy Around the team had met with industry stakeholders and set clear directions on how to improve various aspects of the company’s operations.

Tinubu told the new board, “When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you.

“You have the reputation, resourcefulness and experience to help the country. It is a call to duty for you. I believe you are among the best the industry can offer.”

The president said the ongoing economic reforms had yielded results, with local and international acknowledgements.

According to him, “Nigeria has come of age. It is now more competitive and turning the corner, and with your highly respected team, I can relax and attend to other issues.

“Thank you for accepting the opportunity to serve your country and our dear country.”

Tinubu also told the board that the volatility in the world’s economy will require looking inwards for solutions, and Nigerians will depend on them to reposition NNPC Ltd. “Explore all options for a win-win situation for Nigeria. I am so proud of you and believe you will succeed,” he said.

Earlier, Minister of State, Petroleum, Heineken Lokpobiri, thanked the president for assembling the team he described as the best in Africa.

Lokpobiri stated, “I got calls from the whole of Africa, my colleagues

in OPEC, saying that if this team does not deliver, Nigeria will have to import men from another planet to come and deliver the oil and gas sector in Nigeria.”

Chairman of the Board, Ahmadu Kida, thanked Tinubu for the opportunity to serve the country.

Kida said the new board would uphold the highest standard of leadership, courage, and integrity in delivering on the president’s mandate.

Ojulari said the team had already met with industry stakeholders to review operations and business relationships.

“We have had several meetings, and we have set a direction with the mandate that you have given us.

We have commenced the journey with a bi-weekly meeting with stakeholders,” he said.

Ojulari stated that the management had started optimising various aspects of the company, including the turnaround maintenance of the refineries.

He said production had risen to 1.7 million barrels in two months, from 1.5 million barrels, with the target of reaching 1.9 million barrels by year-end.

“We will promise what we can deliver, and we will deliver on our promise,” he added.

Ojulari also said the president’s economic reform had sent the right signals to attract foreign direct investments.

He assured that NNPC Ltd would operate as a business.

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Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sms only

Bago: Between Vision and Service Delivery in Niger Jeff Ukachukwu assesses the mid-term scorecard of Governor Mohammed Bago of Niger state in the security, health, agriculture, education and other sectors of the state’s economy.

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t the midpoint of Governor Mohammed Bago’s administration, Niger State stands at a delicate, formative juncture—where ambition collides with the reality of delivery, where the echoes of campaign promises are measured against lived experiences. These first two years have unfolded like the early chapters of a compelling but unfinished story, hinting at transformation but grounded in the weight of inherited challenges.

What has emerged is a mixed but unmistakable signal that this administration is not content to govern by inertia. It seeks to disrupt the status quo. It aims to imagine differently. From the battle against insecurity to ambitious health reforms and from education transformation to a green economy blueprint, this reflective article offers a comprehensive review of the Bago administration’s mid-term performance across key thematic pillars.

Perhaps nowhere has this ambition been more urgently tested than in security.

Long before Bago assumed office, vast swathes of Niger’s territory were becoming increasingly ungovernable. Reflecting on Governor Bago’s handling of security in Niger State reveals a leader grappling earnestly with one of the most painful and persistent legacies of state fragility. When he took office, many communities had already become synonymous with lawlessness—places like Shiroro, Munya, and Mariga, where fear had long replaced any sense of normalcy. What distinguishes Bago’s approach is his framing of insecurity not just as a logistical challenge but as a profound moral failing—one he felt compelled to confront directly. His administration’s response has been strategic and symbolic: reorganising local vigilantes, integrating surveillance technologies, and convening inclusive security summits. These actions signalled an intention to restore not only safety, but the state’s moral presence in communities that once felt abandoned.

Evaluating these efforts reveals a mix of bold innovation and necessary pragmatism.

The Dual-Track Security Strategy—balancing kinetic military force with community-rooted governance—demonstrates a clear evolution in thinking. The impact of Operation Gama Aiki II, with its tactical precision and measurable outcomes, showcases operational effectiveness, while initiatives like the Ministries of Homeland Security and Nomadic Affairs indicate a deeper institutional shift.

Infrastructure upgrades, rapid response systems, and smart laws like the Property Forfeiture Act add layers of deterrence.

And yet, despite marked improvements—declines in kidnapping, banditry, and communal clashes—security remains fragile and uneven.

Gains are visible: reopened schools, booming rural markets, reduced crime stats. But the deeper test lies in sustaining momentum and ensuring these victories don’t become temporary blips.

Health, often overlooked as a human security dimension, has taken centre stage under Governor Bago’s administration with a bold and human-centred vision. The “One Ward, One Primary Healthcare Centre” initiative reflects both a moral urgency and strategic clarity—an acknowledgment that no citizen should have to see healthcare as a luxury.

In a state where rural neglect has long defined healthcare access, this policy is as much about dignity as it is about infrastructure. The rollout has been significant: over 200 primary health centres have been built, or rehabilitated, mobile clinics have reached the underserved, and a concerted push has been made to bring healthcare closer to where people live.

These changes signal not just policy shifts, but a philosophical realignment that recognises proximity to care as the foundation of public health.

The administration’s investments in human capital—recruiting 1,000 health workers, reviving scholarships, and onboarding hundreds of community health extension workers—demonstrate an understanding that facilities alone don’t save lives; people do. Programs targeting maternal

and Emergency Operations Centre. These are foundational steps, not just for better care, but for a healthcare system capable of serving future generations.

Education, too, has not been left behind.

Governor Bago’s administration has clearly understood that no society can grow beyond the quality of its education system. And in a state where decades of neglect have left behind a legacy of dilapidated schools, unmotivated teachers, and poor learning outcomes, the journey ahead is a steep one. Yet, a quiet revolution is underway. Education in Niger State, is beginning to show signs of renewal under Governor Bago’s leadership. Recognising that the foundation of any thriving society lies in the strength of its education system, the administration has taken deliberate steps to arrest decline and spark transformation. Over 300 public schools have been rehabilitated, learning materials have reached more than 100,000 pupils, and infrastructure upgrades span all three senatorial zones. These aren’t just cosmetic fixes—they represent a more profound shift toward restoring dignity and purpose to the classroom. New classroom blocks are rising from the ruins of old ones, while a surge in teacher training and recruitment—particularly in STEM and technical subjects—signals a move toward relevance in education. Perhaps most notably, the state’s push for vocational and technical education, through revitalising Technical Colleges, marks a welcome pivot from rote certification to practical skills that empower youth as creators, not just job seekers.

-Dr Ukachukwu writes in from Abuja. and child health, routine immunisations, and preventive health behaviours represent a holistic approach. The transformation of the Old Shiroro

Hotel into a teaching hospital, and the expansion of IBB Specialist Hospital, show a long-term vision, as does the creation of a medical school

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

Mrs Tinubu Boosts Creative Education for Nigerian Children with N100m Folalumi Alaran writes that the Wife of the President, Senator Oluremi Tinubu has donated N100 million to boost education of Nigerian children.

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ife of the President, Senator Oluremi Tinubu, on Wednesday night announced a donation of N100 million on behalf of her Renewed Hope Initiative (RHI) to the Five Cowries Arts Education Initiative, in a significant boost towards enhancing creative education for Nigerian children.

The donation was unveiled at a Charity Gala Night organized by the Spouses of Heads of Mission in Nigeria at the State House Conference Centre, Abuja, in support of the arts-based educational programme.

The First Lady said: “On behalf of the Renewed Hope Initiative, we pledge N100 million in support of the Five Cowries Arts Education Initiative. Your support will help unlock the creativity, talent, and potential of countless Nigerian children who deserve the opportunity to thrive and succeed” Commending the efforts of the Spouses of Heads of Mission in Nigeria, Mrs Tinubu expressed deep appreciation for their service and commitment to the country’s most vulnerable.

According to her: “Your decision to use your time in Nigeria not just to accompany your spouses, but to actively serve and empower the most vulnerable in our society, is encouraging and well-appreciated. You are no longer just on official assignment in our country, but worthy partners in progress”.

She also applauded the founder of the Five Cowries initiative, Ms. Polly Alakija, for her decades-long dedication to arts and education in Nigeria.

Her words: “I applaud the vision and dedication behind the Five Cowries Arts Education Initiative. Ms. Polly Alakija has dedicated over three decades of experience in the arts and education to nurturing our future generation”.

Linking the initiative’s goals to her own longstanding advocacy in education, the First

Lady reiterated her belief that “education is the foundation for true national development,” and highlighted several of the RHI’s interventions since its inception in 2023 under the administration of President Bola Tinubu.

She listed the interventions to include scholarships, bursaries, and infrastructural investments.

“Through partnerships with AUDA-NEPAD, forty-three students are currently enrolled at the African School of Economics,” Mrs Tinubu said, adding that another seven students have been sponsored to study in Belarus, while 47 indigent students across Nigeria now benefit from annual scholarships worth N1 million each.

She further disclosed that 5,100 bursary awards have been disbursed to female students in partnership with the Federal Ministry of Education, and that 40 Alternative High Schools for Girls have been established in collaboration with UBEC. “These schools provide a second opportunity for girls and young women who have dropped

out due to early pregnancy or child marriage to go back to school, acquire skills, and advance their educational goals”.

In addition to infrastructure and scholarships, the First Lady emphasized RHI’s attention to basic education support and menstrual hygiene.

“We have distributed over two million exercise books to public primary and junior secondary students nationwide. €We also recently launched ‘Flow with Confidence,’ which provides a year’s supply of disposable menstrual pads to girls in rural communities,” she said.

Mrs Tinubu called on individuals and organizations to contribute to the Five Cowries initiative, saying, “Whether through financial donations, advocacy, or partnerships, your support will make a difference.”

Spouse of the High Commissioner of Jamaica and representative of the event organizers, Lucrecia Downer, explained that the gala aimed to raise additional funds to strengthen art education across the country.

Earlier in her speech, co-founder and CEO of the Five Cowries Arts Education Initiative, Alakija shared her vision to expand art education across Africa, emphasizing the transformative power of creativity in learning.

According to her, arts and culture should not be exclusive to the privileged but accessible to all children, as they foster essential soft skills, resilience, and community development.

Drawing from her own upbringing steeped in arts and culture, Alakija expressed her commitment to bringing joy and opportunity to children through creative education, which she believes is foundational for personal and national growth.

She also announced a new partnership with the National Gallery of Art to support its Saturday Club, aiming to make Nigerian art accessible to all children, including those out of school.

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INTERVIEW

Maureen Odum: Using Predictive Analytics Will Transform Enterprise Operations In today’s digital transformation era, predictive analytics is no longer optional but essential. Maureen Odum, a seasoned business intelligence analyst whose work spans government defence systems, global financial institutions, and grassroots NGOs, is at the forefront of this evolution. Her predictive dashboards and intelligence systems powered by tools like Python, R, and Power BI have informed multimillion-pound defence logistics decisions, driven billion-naira project savings, and reshaped how Africa thinks about data. In this executive spotlight with Wale Igbintade, Maureen shares how she brings data to life, turning spreadsheets into strategic foresight and enabling business leaders to make decisions not based on hindsight but on predictive insight. As a business intelligence leader with global experience transforming data into strategic insight, Odum specialises in predictive analytics, operational excellence, and regulatory intelligence across defence, finance, and engineering sectors. spiralled. Predictive BI doesn’t just accelerate decisions—it improves their quality. Organisations become proactive, not reactive. And in today’s volatile world, that speed-to-insight edge is a competitive advantage.

Please walk us through how you’ve applied predictive modelling in mission-critical environments and how those insights influenced executive strategy or public-sector readiness At MOD UK, I developed predictive models to monitor asset reliability, procurement risk, and contract compliance across sensitive operations.

These models flagged system anomalies and logistic delays earlier, enabling defence stakeholders to prevent breakdowns rather than react to them.

One model directly contributed to £3.6 million in annual labour savings.

The insights didn’t sit on a report; they powered strategic briefings that influenced NATO-aligned defence readiness. Knowing that my work helped make high-stakes decisions smarter, faster, and safer is rewarding.

How do you decide which predictive models best suit an organisation’s operational challenges?

I start by defining the problem in business terms. Is it revenue leakage, project overrun, or donor churn? Then, I explore the data—patterns, noise, and limitations. Depending on the outcome, I select interpretable models like regression or more complex ones like XGBoost if performance justifies it. My rule is simple: it’s not the right model if it doesn’t add value in a decision-making room. Accuracy matters, but relevance and clarity matter more when lives, reputations, or millions are on the line.

Could you share an example where predictive modelling directly resulted in cost savings or revenue generation?

At Deloitte, I designed a procurement prediction tool using Power BI and DAX to identify which vendor cycles were prone to delays. We saved ₦3.6 billion within three months by restructuring lead time strategies and preempting bottlenecks. In another case, a variance risk model helped prevent a ₦2.1 billion loss on a national engineering rollout.

These weren’t abstract predictions; they shaped executive decisions on the ground, directly saving money, protecting reputation, and reinforcing data as a strategic asset.

How do you ensure predictive dashboards remain accurate, relevant, and user-friendly over time?

Dashboards are not ‘fire-and-forget’ tools. I build auto-refresh logic, track model performance with error metrics, and incorporate user feedback loops.

One defence dashboard I designed had over 80 per cent executive adoption because it offered role-specific insights and alerts in under three clicks. I believe in co-creation. Suppose users don’t

What’s your process for testing and validating predictive models before deploying them?

I perform cross-validation, track RMSE or F1-scores, and simulate deployment with synthetic data. But equally important, I test assumptions with users. At Deloitte, we ran parallel simulations of my predictive risk model against real project outcomes for two weeks before full deployment. We discovered anomalies early. Technical soundness is vital, and so is operational alignment. I don’t deploy unless I know the model works in the real world and the boardroom.

Odum evolve with the dashboard; worse, if the dashboard can’t grow with the business, it gets ignored. Sustainability comes from adaptability and shared ownership.

What challenges have you faced when implementing predictive models in highly regulated sectors?

Regulation introduces both constraint and clarity. In defence and finance, I had to document model lineage, justify algorithmic decisions, and ensure outputs were interpretable for auditors. I prioritise ethical modelling, no black boxes. At PwC, I worked within GDPR compliance to build donor retention models that were both effective and privacy-conscious. The challenge becomes a strength-regulated environment that forces you to create cleaner, more transparent, and ultimately more trustworthy systems.

How do you engage stakeholders unfamiliar with data science to embrace predictive tools?

I translate data into meaning. Instead of saying, ‘The model has 90 per cent accuracy’, I say, ‘This forecast helped save ₦500 million last quarter’. I also focus on storytelling using visuals and business language that makes sense to leaders.

At WIMBIZ, I trained entrepreneurs by walking through their sales trends, not teaching Python, but teaching purpose.

The result? Increased engagement and faster adoption. People don’t buy models; they buy outcomes.

How do you balance technical rigour with ease of use in BI tools?

I always build dual-layer interfaces with technical backends for analysts and intuitive frontends for leadership. Using Power BI’s bookmarks and tooltips, I create dynamic dashboards that don’t overwhelm users but allow them to explore if they want to. The CFO may only want red-flag summaries. The analyst may wish to do full drill-downs. Both are right. Art is designing a tool that satisfies both sides without friction.

How have your models impacted decision-making timelines or organisational agility?

Drastically. At MOD UK, I reduced the time-to-decision on logistics threats from 72 hours to 12 minutes. That enabled preemptive corrections rather than costly firefights. At Deloitte, my project forecasting tools let engagement leads reallocate resources before delays

What role does compliance play in your predictive analytics frameworks?

Compliance is foundational. At MOD, I integrated ISO 27001 and ITIL standards into Power BI dashboards, ensuring data governance aligned with audit requirements. For financial clients, I embedded row-level security in Snowflake to enforce GDPR. Proactive measures like automated compliance triggers in SharePoint prevented £12 million in fines. I also conduct quarterly reviews with legal teams to align models with evolving regulations. Compliance builds trust and ensures longevity.

What advice would you give organisations starting their predictive analytics journey?

Start small, but think big. Choose a high-impact use case like procurement risk and focus on delivering measurable value. Clean your data early and keep governance at the centre. Most important, don’t wait for perfection.

Build, learn, refine. Predictive analytics is not a one-time rollout; it’s a learning curve. Equip your teams, celebrate small wins, and align every model to your organisation’s strategy.

What’s your vision for the future of predictive analytics in enterprise operations?

Predictive analytics will embed itself into every operational workflow, from strategic boardrooms to frontline decision points. Tools will be more autonomous and explainable, and the focus will shift to ethical, inclusive modelling. I envision farmers, SMEs, and local governments using predictive tools built in their context in Africa. Globally, predictive intelligence will drive not just decisions but equity.

That’s the future I’m building toward.

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T H I S D AY • FRIday MAY 23, 2025

Property & environment

Megamound, Lagos Partner to Deliver 378 Housing Units in Greater Lagos County Apartments Bennett Oghifo Megamound Investment Limited has partnered with the Lagos State Government to deliver 378 units in the Greater Lagos County Apartments in Surulere.

This is a major urban renewal project that has seen an entire community in Surulere transformed.

In the all embracing publicprivate partnership project, the Lagos Building Investment Limited (LBIC), a licensed state primary mortgage bank and the foremost property developers have pooled resources and efforts together to build an ultra modern estate, broken down conveniently into 1, 2 and 3-bedroom apartments, respectively.

Located strategically at the end of Michael Ogun Street, off the busy Ojuelegba-Itire Road in Surulere, Lagos, the project which commenced in January 2021 occupies a vast land area of 31,000 square metres.

The project comprises 21 Blocks and a breakdown of the housing units indicates 102 units of 3-bedroom apartments, 228 units of 2-Bedroom Apartments and 48 units of 1-bedroom apartments respectively. Majority of the

blocks,18 in number, are on six floors while the remaining 3 blocks are on 4 floors.The Blocks bear beautiful names of cities in Lagos such as Yaba, Magodo, Ogudu, Obalende, Obele and others including Megamound and LBIC. The undeveloped ground and the roads are well paved and include Megamound Close and LBIC Road.

A unique feature of the apartments is the open plan nature of the 1 and 2-bedroom apartments with a kitchenette in the sitting room as it obtains abroad.

Each house type has a furnished unit to model it. The finishes are of high quality-tiled floors, wooden doors and sliding doors leading to the terrace;windows are casement projected featuring 3 panel aluminium windows; kitchen cabinets are granite topped.

The 3-Bedroom units have double terraces.

To serve the shopping needs of the residents is a shopping centre comprising 19 open plan shops. The Estate is fully serviced with modern facilities such as multi court, children’s playground, power house, water reservoir and treatment plant amongst others.

The Estate is confined within

a perimeter wall fence with four entrance gates including an emergency gate.

The 3-Bedroom carry a price tag of N125 million, 2-Bedroom N85 million and the 1-Bedroom N70 million, respectively.

Lagos State Governor, Babajide Sanwo-Olu, who presented the estate, described it as a truly urban regeneration project because it was built on a former refuse dumpsite.

Gov. Sanwo-Olu said, “Here was just a landlocked dumpsite that you cannot imagine we can turn around. I’ve been here a few times, and I know that this is a complete regeneration.

This is a lost asset that has been turned into a viable real asset.

“The piling on each of these buildings, I’m told, is almost 25 meters, just so that you can stabilise each of them.”

Earlier, the Managing Director of Megamound Investment Ltd., Otunba Olumide Osunshina said the construction of the estate began five years ago in partnership with the Lagos State Government.

“The project, actually, is in one phase. It’s just one single phase.

And it’s 378 units of flats, one bedroom, two bedroom, and three bedrooms. And of course, it has a mall attached to it for the convenience of the

occupants. “I’m happy about this project because there’s a lot of reasons to be happy about it. I recollect when we came to this site, it’s a dump site, what you call a brown site, and it looks like this kind of edifice cannot come out of it.

So, I would say this is very

serious hard work of almost five years between myself and our team- the Megamond team.

So, we’re extremely proud about the outcome. And of course, for the community itself, it’s a big plus, because what you are looking at is an improvement in every way for

the community, in terms of the economy, and the demography.

I mean, we’re bringing 300 and almost 400 millionaires into their midst, because anybody who can afford this is obviously a millionaire. And it’s a positive for both the council and the community itself.”

Greater Lagos County Apartments in Surulere, Lagos

GMH Luxury Goal is to Deliver Luxurious, Responsible Projects, Says Ayoolanrewaju Fadekemi Ajakaiye The Chief Executive Officer, GMH Luxury, Engr. Kuyebi Ayoolanrewaju has stated that their goal is to deliver projects that are not just luxurious but responsible.

Ayoolanrewaju highlighted these goals and achievements

during a media briefing on the 10-year anniversary of GMH Luxury, in Lagos recently.

He stated that GMH Luxury is celebrating its 10 years of delivering excellence and rewriting history in Nigeria’s real estate landscape.

Ayoolanrewaju, highlighted how the company has evolved

with the market. He said, “At GMH Luxury, evolution is not a choice, it’s a necessity. We were the first to deliver a purposebuilt maisonette in Parkview, Ikoyi, and develop apartment complexes in Gbagada. “We’re integrating AI into construction and introducing smart living solutions like facility-based

L-R: Legal Officer, GMH Luxury, Rejoice Amadi; MD/CEO, GMH Luxury, Ayoolanrewaju Kuyebi; and HR Manager/Head of Admin, GMH Luxury, Onyelunisue Emmanuel, at a media briefing to discuss Real Estate Emerging Trends, Investment Opportunities, and Strategies to Overcome Funding Challenges in Nigeria, organised

by GMH Luxury in Lagos… recently

cloud storage and remote power management.”

He narrated their success story, laying critical emphasis on the key pillars that have driven its investment from a company founded with N570,000 to a real estate powerhouse worth over N60 Billion with well over 100 housing units delivered and about 400 to be delivered with exceptional quality.

He stated that as part of its tradition of transparency and accountability, the briefing was to share its milestones, innovations, and bold ambitions for the future, reaffirming its status as a customer-first real estate company committed to sustainability, trust, and technological evolution in the real estate industry.

Ayoolanrewaju noted that consumer behaviour has changed, as buyers are now more informed, more cautious, showing up for inspections with architects and asking detailed

questions about finishing.

“We’ve responded by staying transparent and ensuring quality at every stage. Focusing on transparency and customer satisfaction remains central to GMH’s brand promise. The company is one of the few in the sector that does not penalise subscribers for pulling out of project due to financial constraints. It also provides clients with daily visibility into project progress, something rarely seen in the real estate market,” he said.

He stated that in response to shifting buyer preferences and Nigeria’s inflationary environment, GMH Luxury has also adopted a structural financing model, called Equitable Finance.

With this model, aspiring homeowners and investors can participate in projects with as little as 10% equity, giving them access to capital appreciation without needing full ownership.

“On sustainability, GMH Luxury shared its forward-

thinking approach to green development. From implementing biodigester systems and green landscaping to integrating solar and gas turbine solutions to reduce diesel generator use”, he said.

He mentioned that each development has a trust structure funded by homeowners themselves to ensure continuous upgrades and efficient maintenance, which ensures our facilities still work years after handover.”

The Chief Operating Officer GMH Luxury, Modupe Sonola, in her remark said, “This milestone is a moment to reaffirm our commitment to transparency, quality, integrity, and sustainability.”

Looking ahead, GMH Luxury plans to extend its footprint with a five-star resort on the Lagos Peninsula, while continuing to redefine urban luxury with hotel apartments, lifestyle residences, and tech-enabled homes.

New NDCs are About Growth, Antidote to Economic Uncertainty, Says Stiell Bennett Oghifo Executive Secretary of UN Climate Change (UNFCCC), Simon Stiell, has explained that the new national climate plans (NDCs) - due from all countries ahead of COP30 - are “really about growth” and “are an antidote to economic uncertainty”.

Stiell stated this in a major speech at the 2025 Nature Summit in Panamá, yesterday.

The Nature Summit coincides with the first of the newly reconfigured Climate Weeks

resuming this year, also taking place in Panamá City. The new format has a strong focus on real-economy solutions, and aims to bridge the gap between technical dialogues, stakeholder engagement and real-world implementation.

According to Stiell, “Clear and strong climate policies are an antidote to economic uncertainty.

Climate policy can help get trade flowing and economies growing. And prevent wildly destructive climate impacts.

Providing signals from governments to markets.

To those investors ready to hit the ‘go’ button on huge investments.

“That’s why a new generation of national climate plans - or NDCs - are utterly essential.

Here in Latin America, and all around the world.

“In the past, climate plans have often focused mainly on cuts - cuts to greenhouse gas emissions and to old-fashioned energy. This new generation of climate plans are really about growth. Growing industries and economies. And building a better future. One where nature

is protected, and where people have better opportunities.

“Done right, these plans can attract a bonanza of benefits.

More jobs. More revenue. And a virtuous cycle of increased investment.

“But unless it’s implemented, an NDC is just a piece of paper.

That’s why political leadership now, is so important.

“And the political and policy signals from almost all of the world’s largest economies are very clear: global decarbonization is unstoppable and continues to gather pace and scale.

“From rapid technological advancements in Electric Vehicle charging, to breakthroughs in energy storage, all while the costs of wind, solar, and so many more clean technologies keep coming down.

“And it’s backed by hard data - more than 90% of new energy last year was renewable.

“It’s clear in the words and deeds of the leaders who get it.

Brazil, putting nature at the heart of their climate plan. Germany promising to invest billions in climate action to increase security.

China, for the first time, say-

ing it will set a new national climate target that covers every greenhouse gas and sector of the economy.

“This isn’t only because of their better environmental angels. It’s because global decarbonization is the biggest economic transformation of our age, making it one of the biggest commercial opportunities we’ve ever seen.”

He said, “Cooperation makes all of us more prosperous.

Every country wants to take advantage of a $2 trillion clean energy market.

T H I S D AY FRIDAY MAY 23, 2025 20 TR

UT H

& RE A S O

Friday May 23, 2025 Vol 27. No 101002

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opinion@thisdaylive.com

www.thisdaylive.com

‘OWE NO MAN NOTHING’

Delta State government is resolved to break the yoke of debts, writes GEORGE ETAKIBUEBU

See page 21

A WORD FOR BABACHIR LAWAL

FEMI FANI-KAYODE argues that the views of former secretary to the government of the federation are not representative of the Christian community

See page 21

EDITORIAL

PARADE OF DUBIOUS CREDENTIALS

22

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AUSTIN ISIKHUEMEN assesses President Bola Tinubu’s mid-term performance

TWO YEARS IN THE SADDLE

May 29, 2025 is bare a week away. That date marks the halfway milestone of President Bola Ahmed Tinubu’s presidency. This is a good time to review how well he has performed and identify the gaps that needs to be filled to enable Nigerians to say well done at the end of a full first term in 2027. That assessment too, would enable altruistic determination of whether a second tenure is merited and should be bequeathed by the people, his employers, through the ballot box once again.

This is the assessment I attempt to do here as a citizen whose life has been affected for good or ill by policies and actions of the Jagaban government in the last two years.

What gives me the authority, even audacity, to publicly assess a presidential performance and why should people take my views on such a weighty matter seriously? As someone not known to be a card-carrying member of the ruling party, could my views not be seen as coloured by partisanship considerations and therefore, not worthy of serious attention? Lastly, of what use is this twoyear assessment on a four-year journey, when the next two years can be profoundly more impactful in view of the government’s deliberate increased momentum to breast the tape in a winning shape deserving of an encore?

First, I am a free citizen in this country which has chosen democracy as its mode of governance.

That alone gives me the freedom of expression within legal limits. As one impacted by the policies of government, and therefore, a beneficiary, or victim, in the last two years, it is appropriate, even a duty, to speak out and put in bold relief, what my pains and gains have been. As a public affairs commentator, voter, adult past 60 years age, with some education to tertiary level, work experience spanning decades and several industries, a father and someone with a sense of history having experienced many governments in our dear country, I can humbly submit that I am not unqualified to carry out this exercise!

Non-members of the ruling party are more suited to such analytical assessment, not blinkered by partisan loyalty considerations. They too, for the love of country, must avoid the pitfall of deliberate blindness to beneficial policies or ones that have a gestation period with positive outlook for the polity.

Two years review, no matter how critical, gives the incumbent and his team a barometer reading which can be positively deployed in the cause of new steps to be taken in the time left. It helps them to adjust the direction that will benefit the people and help the government’s desire to get their approval for a second tenure. This long preamble was necessitated by the fact that this is perhaps among the first, if not the very first, in the series of reviews that will flood the media in the next days.

So, how well has the government done in the last two years? Has Jagaban, after his long reparation to win this ultimate prize of the presidency of the world’s most populous black nation, made good the promise of good governance and put the indolence of a past administration behind us? I can only look at a few areas and leave the rest to other commentators and assessors, including the government’s paid mouthpieces who must be preparing their defensive hoodwinks and papers to cover the visible cracks of non-performance in some areas. That is the nature of government anyway.

OIL SUBSIDY REMOVAL: This was the very first action taken by President Tinubu on the inauguration podium. Courageous?

Very much so! All the top candidates had canvassed this removal of what was considered a drain pipe and an avenue for massive corruption that had become a blight on the nation. That even today, the government still have to contend with forces that prefer importation of finished petroleum products to local production for which we have now got the capacity to meet our needs is baffling to some of us.

We now have continuous availability of PMS, diesel and other fuels that drive the economy, but the price has been back-breaking! Going from N189/ litre to N920 in Lagos now, the impact on people, industry and general prices have been devastating.

Bus fares from Benin City to Lagos moved, in some instances from N3000 to N25,000 about 700 percent increase. The impact of this on inflation has been humongous. That the palliatives were not well thought out before the precipitate announcement was a major error in its implementation. But that it has finally been done is praiseworthy.

FLOATING OF THE NAIRA: That this was also a desired policy is not in doubt. Internal economists and global financial institutions have long canvassed for this so as to eliminate the arbitrage opportunities that fuelled corruption and entrenched inefficiencies.

Hitherto, people were made millionaires overnight simply through foreign exchange allocation and round-tripping and diversion of such funds from productive activities was commonplace.

This unification of exchange rate, is a welcome development and the government must be praised for taking such a bold step. However, the way it was done simultaneously with fuel subsidy removal left citizens and industry gasping for breath! A staggered approach could have helped but some argue that biting the bullet at once also have salutary effects which will become palpable in due time. Moving from N200 to a US dollar to N1,600 was devastating for manufacturers and many, such as Diageo, Uniliver, GSK, voted with their feet and left Nigeria, exacerbating unemployment. Thank God Guinness, bought from Diageo by Tolaram, appears to have turned the corner is headed in growth trajectory.

SIZE OF GOVERNMENT While everyone canvassed a reduction of the size of government as a way to bring cost of governance down, with work already done by the famous Oronsaye Committee, it was a shocking turn of events that the current government came up with the highest number of ministries and ministers ever in our nation’s history. More agencies of government have also been created and new universities are being established with the existing ones gasping for funding breath. Many areas of duplication have been left untouched. One had expected PBAT to be

a reformer in this key area that requires courage and intellect.

ENERGY SECTOR: The most significant change in this area has been in the petroleum sector where Dangote Refinery, the largest single stream petroleum refinery in the world, was finally completed and went into production. Now, Nigeria has got a refinery that can meet its needs for PMS and other fuels and export to other countries in Africa and beyond. Thanks to the brilliance, tenacity, financial wizardry and patriotism of one man called Aliko Dangote! It was disheartening and baffling that government agencies attempted, and still attempts to date, to stifle this gargantuan initiative and success story using various stratagems.

Fake analytical results cooked to fool that world about the quality of fuels from Dangote’s refinery were even deployed. Was the author of that evil machination ever sanctioned? Could Dangote not sell at lower prices today if the NNPC behemoth and importers allow it? Government can do better in this area to demonstrate visible support to the largest single manufacturing industry (petroleum refining and petrochemicals) in Nigeria. That it came on stream in the life of this administration is a plus.

NNPC also started production after decades of indolence and waste in interminable Turn Around Maintenance that never turned one barrel around.

The Tinubu government must be praised for finally getting NNPC refineries back to production, no matter how skeletal and opaque their volumes today.

It was a milestone achievement. We saw more of a catchup game with Dangote refinery by the NNPC leadership. Was anyone who superintended over the locust years of NNPC ever queried or sanctioned?

Closing the loop must be part of government actions at all times.

Electricity management by the ministry of power has seen quite a number of initiatives.

Classifying consumers to bands based on ability to pay is one of them. Today, band A consumers get mostly 24hrs uninterrupted supply while others in the lower bands get varied supply patterns nationwide. The minister has even attempted to review Disco’s performances and is currently taking actions to address non or suboptimal performance by both discos and gencos. We have also seen the new initiative to power Aso Rock from massive solar installation. This is a diversification initiative in a nation with abundance sunlight throughout the year. However, some citizens also see it as a vote of no confidence on orthodox electricity supply from hydro and thermal sources.

Individuals are installing solar power solutions for their domestic needs. But the costs, for batteries, inverters and solar panels, are still prohibitive.

Government should lower tariffs on these products and encourage local production so as to lower their prices and encourage people to adopt the technology and reduce demand on grid electricity supply. CNG introduction is a good one, but cost of installation needs government intervention as it is beyond a million naira today and filling stations are not yet commonplace.

INSECURITY: This has escalated and people can no longer sleep with two eyes closed in large swathes of the country. It has gotten worse than it was during the last days of the Buhari government. I should know because I read and I come from an area totally ravaged by kidnapping and banditry in Edo state. auxtynisi@gmail.com

T H I S D AY

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FRIDAY MAY 23, 2025

Delta State government is resolved to break the yoke of debts, writes GEORGE ETAKIBUEBU

‘OWE NO MAN NOTHING’

The good book advises believers against debts.

It says “owe no man nothing.” For emphasis, it describes a borrower as a slave or servant to the lender. This, however, is without prejudice to economic and political sound bites that tend to justify debts and borrowing provided such debts are judiciously applied. But for Delta State Governor, Rt Hon Sheriff Oborevwori, his position is clearly in favour of the Biblical injunction. He must have resolved, and uncompromisingly so, to break the yoke of indebtedness by Delta State.

For a man not given to blowing his own trumpet, not much was heard about Governor Oborevvwori’s silent but bold move against the debt overhang in the state in the last two years that he has been in the saddle. We, however, know that he has not borrowed a farthing even when legacy projects dot the nooks and crannies of the state.

But the policy of keeping sealed lips ended in early January 2025, when the Commissioner for Works (Rural and Riverine Roads) and Supervising Commissioner for Information, Mr Charles Aniagwu, revealed that Governor Oborevwori had paid over N200 billion debts owed by the state since his assumption of office. Speaking with newsmen in Asaba at his maiden meeting with the media after he was directed by the governor to oversee the information ministry where he once held sway during the Okowa administration, Aniagwu said that the move had significantly reduced the state’s debt portfolio.

“Over N200 billion has been paid to liquidate the state’s debt stock while contractors are being mobilised with new jobs with outstanding job certificates paid as they fall due,” he said, stressing the fiscal discipline and efficient resource allocation under Oborevwori’s watch.

By May, official data from the Debt Management Office (DMO) provided clarity on the status of indebtedness by Delta State. From an intimidating sum of N465 billion, Delta State’s debt profile has now dropped to N199.575 billion, thus making it the biggest debt reduction among the 36 states of the federation. What that translates into is that under the watch of Governor Oborevwori in 24 months, the state has repaid N265.425 billion.

And that means over 50 per cent has been paid with only about 42.79 percent of the debt now left.

Inheriting N465 billion and offsetting more than N265 billion of that amount is an eloquent testimony to Oborevwori’s fiscal discipline and financial engineering prowess. Of course, the argument by critics has been that revenue of the state has tripled because of the policy of the removal of fuel subsidy and a deregulated exchange rate, but they have forgotten that so also has been the cost of contracts gone up and the minimum wage that is now above N70,000 and most importantly his refusal to obtain fresh loans while still executing many capital projects. The question is what could be the driving force behind Governor Oborevwori’s uncompromising decision that has now made headlines? Undoubtedly, this remarkable achievement is not merely a financial maneuver; it is deeply rooted in economic, social, and political considerations that reflect the governor's commitment to sustainable governance and the welfare of the people of Delta State.

The plausible economic rationale behind Governor Oborevwori's aggressive debt repayment strategy is multifaceted. First and foremost, reducing debt levels enhances the state’s creditworthiness. By paying off a significant portion of its debt, Delta State positions itself as a more attractive destination for investors. A lower debt burden signals fiscal responsibility, which can lead to increased investment in infrastructure, education, and healthcare—key areas that drive economic growth.

Moreover, the reduction of debt alleviates the financial strain on the state’s budget. With less money allocated to servicing debt, more funds can be redirected towards developmental projects and

social services. This shift not only stimulates economic activity but also improves the quality of life for residents. The governor’s focus on debt reduction is also a strategic move to ensure that Delta State can weather economic downturns more effectively, providing a buffer against potential financial crises.

Socially, the implications of reducing the state’s debt are profound. High levels of debt often lead to austerity measures, which can adversely affect public services and social welfare programs. By prioritizing debt repayment, Governor Oborevwori is signaling a commitment to improving the living standards of Delta State residents. This approach fosters public trust and confidence in the government, as citizens can see tangible benefits from fiscal prudence.

Additionally, the governor’s strategy aligns with the broader MORE agenda and the goal of poverty alleviation. By freeing up resources that would otherwise go towards debt servicing, the state can invest in social programs aimed at education, healthcare, and job creation. These investments are crucial for empowering the populace and reducing inequality, ultimately leading to a more stable and prosperous society.

And politically, the decision to aggressively pay down debt can be seen as a strategic move to solidify Governor Oborevwori’s position and legacy. In a political landscape where public perception is paramount, demonstrating fiscal responsibility can enhance a leader’s credibility. By taking decisive action to reduce debt, the governor is not only addressing immediate financial concerns but also laying the groundwork for long-term political stability.

Furthermore, the governor’s actions resonate well with the electorate, particularly in a state where economic challenges have historically led to discontent.

By prioritizing debt repayment, Oborevwori is effectively addressing a critical concern for many citizens—financial stability. This can translate into political capital, as voters are likely to support a leader who is perceived as capable of managing the state’s finances effectively.

Additionally, the governor’s focus on debt reduction can be viewed as a means to foster unity and collaboration among various political factions within the state. By demonstrating a commitment to the common good, he can bridge divides and build a coalition of support that transcends partisan lines. This is particularly important in a diverse state like Delta, where different ethnic and political groups may have varying interests.

In conclusion, Governor Oborevwori’s decision to reduce Delta State’s debt by 50% within two years is a strategic move driven by economic, social, and political imperatives. Economically, it enhances the state’s creditworthiness and allows for greater investment in public services. Socially, it improves the quality of life for residents and fosters public trust.

Politically, it solidifies the governor’s position and builds a coalition of support. As Delta State continues to navigate its challenges, this bold fiscal strategy may well serve as a blueprint for sustainable governance and development in the years to come.

Etakibuebu writes from Lagos

FEMI FANI-KAYODE argues that the views of former secretary to the government of the federation are not representative of the Christian community

A WORD FOR BABACHIR LAWAL

At a time when the whole country is rejoicing and proud of the fact that President Bola Tinubu embarked on a two day trip to Rome to attend the inaugural Mass of the newly- installed Pope Leo X1V, Babachir Lawal, the former Secretary to the Federal Government, has described his attendance as a "non-event" and alleged that it came about "as a consequence of the work of lobbyists".

I have always had immense respect for this man and considered him a friend but I am constrained to ask, has anything gone wrong?

He has refused to recognise the fact that, as I pointed out on X on the day our President went to Rome, that no Nigerian President has ever honored the Pope in this way and neither has any ever been given the honor by the Vatican to personally attend such an occasion.

The fact that President Tinubu went, even though he is a practising Muslim and not a Christian, speaks volumes for him and our nation and is an eloquent testimony to the fact that religious tolerance and harmony is alive and well in Nigeria and that even though we have a Muslim President and Muslim Vice President, the Christian community is being treated with the utmost respect.

I expected no less. Archbishop Kaigama of the Catholic Church commended President Tinubu for going to Rome as did millions of other Christians.

Does Babachir know better than them all?

Even though people like him had given the world the impression that Christians would suffer under this government he has been proved wrong and the opposite is the case.

Under the Tinubu/Shettima Presidency the Christians of Nigeria have not only been treated equally and fairly but they have also been given pride of place which is far more that I can say happened under the government that Babachir served.

Having a Christian Vice President is not the issue but rather having a President and a Vice President, regardless of their faith, that are ready to treat Christians and Muslims in a respectful and equitable manner.

When President Buhari was in power with his Christian Vice President Professor Yemi Osinbajo, Christians were slaughtered like flies all over the North and every single operational head of each of our security outfits and arms of the military were Northern Muslims.

A Christian VP could not stop this shameful indignity and gratuitous insult against his fellow Christians from happening but under Tinubu and Shettima the aberration was remedied and the leadership of our Armed Forces and security outfits have been balanced in an equitable and allinclusive manner.

In the light of this, Babachir is the last person that should be complaining about insults to Christians and the first to repent of his obvious sins and seek prayers and deliverance from his bitterness, hate, resentment and anger.

He does not speak for the Christian community and he should keep his mouth shut and stop always trying to see and define matters of governance through a religious prism.

Finally his disrespectful and utterly absurd description of Vice President Kashim Shettima as a "flat spare tyre" the other day has not gone unnoticed.

I am not the VP's spokesman and I am aware that he is quite capable of fighting his own battles but surely Babachir, with his age and experience, would accept the fact that in attempting to subject the Vice President to ridicule he has only proved the fact that he is as asinine and uncouth as many had suspected.

If we are looking for "flat spare tyres" and I daresay "chicken-hearted ice cream sellers", Babachir should look towards the Vice President that he happily served and worked under and not Kashim Shettima who is doing an excellent job and supporting the President in a profound and eloquent manner.

Unlike the VP he served Kashim did not turn a blind eye, remain silent and hide under the bed when both Christians and Muslims were being slaughtered by terrorists without consequence under the previous regime.

Babachir can criticise the government as much as he wants and no one is losing any sleep over it but he should stop doing so in the name of Christianity.

This is the greatest insult of all and he would be wise to desist lest he provokes a more robust response.

Chief Fani-Kayode is former Minister of Aviation

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T H I S D AY

EDITORIAL

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

I

FRIDAY MAY 23, 2025

PARADE OF DUBIOUS CREDENTIALS Regulators must do more to expose the fraudsters in the system

t is no longer news that many top decision makers in our public services may have conned their way into critical positions without the qualifications they claim. The greater challenge is that this fraud is pervasive in all sectors and across different strata of our society. From seeking admission to applying for jobs, the list of those who parade forged certificates and fake degrees in Nigeria today is long and very disturbing. This menace is aided by the absence of a reliable database, corrupt government officials and dishonest personnel in many of our tertiary institutions.

Today, there are so many criminals who parade chains of degrees in medicine, who put the lives of many Nigerians at risk daily, and there are others who teach in our universities even without possessing a genuine first degree. Such is the level of decay in the system that when an ordinary Nigerian walks into a hospital, chances are that the 'doctor' on duty may just be a glorified ward attendant. From fake pharmacists whose prescriptions are often fatal for hospital patients to fake teachers whose pupils/students are candidates for failure to fake journalists who write to blackmail, it is now increasingly difficult to distinguish between genuine and fake professionals in our country.

There is hardly any batch of the National Youth Service Corps (NYSC) members, that fake graduates would not be discovered, although most of the fake certificates are usually from foreign universities, and since there is hardly any due diligence, many are never detected. Three years ago, then Executive Secretary of the National Universities Commission (NUC), Abubakar Adamu Rasheed revealed that about 100 fake professors were uncovered in our institutions of higher learning during a screening exercise. The outcome of the verification exercise showed that out of 11,996 certificates verified by the commission, 721 certificates

were found to have been forged.

For years, the Federal Institute of Industrial Research, Oshodi (FIIRO) was embroiled in scandal over acting Director-General who did not have the requisite qualification for the office he held. While a PhD is the minimum qualification for the position, the man claimed to have a doctorate from a university in Republic of Benin when he did not.

But the challenge of fake certificates is not limited to the civil service, it has spread to many of our critical institutions and agencies. In fact, making dubious claims, including faking credentials, seem to be the route to power in the country today. A serving senator once had his election nullified by both High Court and Appeal Court over a fake certificate. Hundreds of other political leaders make dubious academic claims that are never verified.

What makes the situation more worrisome is the way fraudsters now con their way into just about any official position with fake credentials.

The Independent Corrupt Practices Commission (ICPC) once revealed that six government agencies have personnel with cases of having gained employment with such dubious claims. In the police, armed forces, academia, ministries and government agencies and of course politics, fake credentials are now paraded by many for jobs they are not qualified to undertake.

Indeed, there is hardly any professional field today where these fraudsters have not invaded. We call on the regulatory authorities, including professional bodies, to put in place measures that will checkmate the antics of these fraudsters. Authorities in the education sector must work with the security agencies to deal with this growing problem that puts a question mark on the integrity of academic qualifications in Nigeria. We also call on the authorities to put in place a mechanism to ensure that those who hold positions of trust possess the credentials they claim.

In the police, armed forces, academia, ministries and government agencies and of course politics, fake credentials are now paraded by many for jobs they are not qualified to undertake T H I S D AY

EDITOR SHAKA MOMODU DEPUTY EDITOR WALE OLALEYE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

T H I S D AY 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 DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

LETTERS

TINUBU, SON AND SIRENS OF HYPOCRISY

The Holy Father, Pope Leo XIV, is a pope that clearly has a soft spot for Nigeria. It will be no surprise if he visits the country within the next one year. Immediately he was announced elected as the Supreme Pontiff, fact-checkers dug out pictures showing his previous trips and engagements in Nigeria, a country he has visited no less than ten times previously to commune with the Augustinian order to which he belongs.

Thus, during his inauguration on May 18, it came as little surprise that President Bola Ahmed Tinubu was invited to attend, an invitation that was graciously and elatedly accepted by the presidency even if many Nigerians were quick to pour scorn.

At the inauguration, the president had the opportunity to greet the Supreme Pontiff, an honour extended only to heads of states.

Many Nigerians have unsurprisingly picked up the moment the president’s son, Seyi Tinubu, was politely redirected by Vatican protocol as his father greeted the president.

For all his flaws and foibles, President Bola Ahmed Tinubu remains a master political strategist who knows how to build social and political capital from the kind of raw materials that repulses others. In less than two years as president of Nigeria, he has shown that his brand of politics, which is far more inclusive than any of

his predecessors, is just what a bitterly divided country riven by divisive politics needs. His recent visit to Anambra State where he broke a 13-year jinx, becoming the first sitting president to visit the state since 2012, was an opportunity to hold out a hand to a state that has been calculatedly cold towards the center for more than a decade now. It was also an opportunity for President Tinubu to make a statement in the home state of Mr. Peter Obi, his direct rival and most formidable opponent, who is wildly loved by many Nigerians. Mr. Tinubu masterfully achieved both.

In many ways, Seyi Tinubu is the spitting image of his father.

Controversial, conversational and painstakingly strategic, he appears to have mastered the art which has made his father Nigeria’s most powerful politician today, guiding him through many years of trials and tribulations to Nigeria’s highest seat.

For all his baggage and he will do well to watch it, Seyi Tinubu brings the same clarity of purpose his father brings to politics. But the most endearing trait he has taken from his father is his ability to build political bridges while pulling down political walls.

Nigeria’s situation today is a fallout of the kind of noxious politics played in the country since independence. It is why it is so important for Nigerians to encourage and engage in political partici-

pation to change the narrative.

Much of the criticism directed at Seyi Tinubu seems to revolve around the fact that he marches in lockstep with his father. There has been much misplaced rejoicing over the fact that he appears to have been snubbed by Vatican protocol when he tried to greet the pope. But no one can blame him for being too eager to greet the pope, who is easily one of the most powerful people on earth.

It is an opportunity he may never get again. Moreover, while Nigeria’s presidency should never be reduced to a family affair, there is nothing wrong with a son accompanying his father who is the president of a country on engagements at home or abroad. Familial relationships which transverse a lifetime cannot and should not cease or be suspended because of a presidency which has a maximum lifespan of eight years. It is the height of hypocrisy for anyone to criticize Seyi Tinubu because he shadows his father, the president, or to criticize President Tinubu for always allowing a son who is very much like him to stand by him as he confronts the monstrous challenge of leading Nigeria as president. Even the Bible says that a son knows his father.

Ike Willie-Nwobu, Ikewilly9@gmail.com

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T H I S D AY • FRIday, May 23, 2025

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Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

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With N916bn Sales in 2024, NANTA Projects Increased Revenue for International Travel

Chinedu Eze Despite seeming stringent conditions in the new visa regime introduced by some countries on Nigerian passport holders, there are indications that international travel will generate higher revenue in 2025.

According to the International Air Transport Association (IATA), foreign travel generated about N916 billion in 2024. But the President of the National Association of Nigeria Travel Agencies (NANTA), Yinka Folami, said there are indications that airlines will generate more than the 2024 figures in 2025.

Folami told THISDAY in a telephone interview in Lagos that the 2025 revenue from international travel will surpass that of last year

because available figures so far by the end of April, 2025 has indicated an increase which will further record upsurge at the peak seasons in Summer and December.

According to NANTA President, “Travel is resilient; it is also essential because it is at the heart of connectivity and there is an improvement from the previous year, so revenue this year will be very good and will exceed that of last year.”

Looking at the international travel market, the Managing Director of Finchglow Travels, Ezekiel Ikotun, explained that although some countries like the US, UK and some Schengen nations have introduced stricter visa regime, but such would not constitute significant setback to

Nigerians that would wish to travel.

“Nigeria is blessed with amazing people. Very smart, intelligent regardless of the strict measures, Nigerians will still find out ways around it. The more I think the requirement, the more we will meet it. That has been the trend.

So, it is not a problem. For Africa and the rest of the world” he said.

The NANTA President and Ikotun also confirmed that Nigerian travellers have increased their African destinations, a new phase triggered by COVID-19, which has as well aided domestic travel in addition to high cost of foreign exchange, which prompted Nigerians to visit local tourist destinations instead of travelling overseas.

On African destinations, Ikotun said, “I travelled last month to Morocco and it was amazing. It is just as if it is another European country. The way they are developing their tourist center.

So, the awareness is now there for people to say, instead of saying you want to leave, if it is just for leisure. You can have the same experience in Africa. If you go to Kenya, Nairobi, Mombasa, and other states, they are replicates of every major tourist center in the world. In that country. You won’t even know. If you take a picture there. You won’t know that you are not in Kenya. You will think you are in Oklahoma (USA).

Or you are in Doha (Qatar). Or you are in Dubai (United Arab

Emirate). Because of the way they have been able to replicate the same experience in their domain.

So, the same thing is applicable to us also even in Nigeria. The December Detty December is becoming popular. So, I think Africa is waking up to see how we can develop our space also.

Speaking in the same vein, the Manager of B2B at Finchglow Travels, Abiola Bakare, also noted that Nigerians realised that there are exciting destinations in Africa and many who become disinclined to traveling to Europe, Middle East and the US now chose African destinations, which have more flexible visa rules and relatively less expensive in terms of fares.

Bakare said, “One of the realities after COVID-19 was that we now started appreciating what we have.

Immediately, the countries started opening their borders. How did this happen?

African countries were the first to open their borders. Our brothers before believed in travelling to Europe and US. You know, most of us, we understand that trend. I can mention cities in the UK than most African countries. Most of us understand America more than Ghana. So, when African countries started opening their doors, we now started looking at African destinations.

The story continues online on

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SON: FG Installing Standard Metrology Facility to Boost Confidence on Nigerian Export Goods Dike Onwuamaeze The federal government is making concerted efforts aimed at putting a standard metrology facility in place that would serve as the bedrock to the nation’s economic development, boost confidence in the country’s export products and end the era when Nigeria relied on foreign metrology institutes’ laboratories for testing and calibration of manufactured products.

The Director General of Standard Organisation of Nigeria (SON), Dr. Ifeanyi Chukwunonso Okeke, disclosed this during World Metrology Day 2025 with the theme, “Measurement for All Times, For All People,” which celebrated 150 years of global measurement unity.

Metrology is the scientific study of measurement, crucial for ensuring accuracy and standardisation across various fields, including science, industry, and trade.

Okeke said: “SON is making concerted efforts aimed at putting a standard metrology facility in place to serve as bedrock to the nation’s economic development, put Nigeria in its pride of place and ensure traceability and save capital fright.”

He revealed that in furtherance of these objectives, the country’s National Metrology Institute (NMI) in Enugu is receiving greater attention in equipment supply, infrastructural development, training of officers and accreditation of laboratories.

“When completed and fully developed, it will ensure accredited testing and calibration laboratories obtain traceability of measurement locally, saving hard currency paid to foreign NMIs. “It will boost the country’s export base by providing confidence and reliability in export goods; improve citizen health and ensure a safe environment through accurate measurements, strengthen other components of the National Quality Infrastructure, reduce disputation and transaction costs in industry and commerce and improve product quality, and increase competitiveness,” Okeke said.

Speaking, the ZONE ‘A’ Coordinator of the Nigeria Customs Service (NCS), Assistant

the correct payment of duty. Our laboratories must precisely identify restricted substances. Without reliable measurements, our revenue collection, trade facilitation, and national security mandates would be compromised.”

In his paper presentation, a lecturer in the Department of Physics, University of Ibadan, Dr. Taofeek Abiodun Otunla, said the occasion was an opportunity to reflect on the universality, inclusiveness and future-oriented essence of metrology.

Otunla said that “measurement is the invisible backbone of modern life. It governs the precision in our technologies, ensures fairness in trade, guarantees safety in industry, drives advancements in healthcare, and enables environmental monitoring.

“In both developed and developing nations, the ability to measure accurately and consistently is foundational to progress,” adding that “measurement is not a luxury but a necessity for equitable development.”

According to him, economic development hinges on trust and standardisation. Reliable measurement ensures that products meet specifications, reducing waste and increasing competitiveness.

The Director of Product Certification Department, SON, Dr. Samuel Ayuba, therefore, appealed to Nigerian firms in the refineries, pressure and manufacturing industries to patronise the country’s NMI so that their calibration would have traceability and international acceptance.

M a r k e t d ata A s at T h u r s d ay, M ay 2 2 , 2 0 2 5

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Description Price Yield Change Updated Time (%) ^16.2884 17May 95.16 19.51 0.00 22, 2025 MAR-2027 May ^19.94 200.00 22, 101.12 19.12 2025 MAR-2027 ^13.98 23May 88.97 19.29 0.01 FEB-2028 22, 2025 ^21.00 20May 104.32 18.91 0.00 MAR-2028 22, 2025 ^14.55 26May 86.82 19.49 0.00 22, APR-2029 2025

Comptroller-General Charles Orbih, said that the evolution of measurement standards has silently shaped the way customs work that when goods come into the country, they do so under the watchful eye of measurement systems that ensures fairness, safety, and compliance.

He said: “Every container inspected, every tariff calculated, and every regulation enforced relies on the precision and reliability of measurements. At the NCS, we witness daily the practical implications of accurate measurements. Our scanners must precisely detect contraband hidden within legitimate cargo. Our weighing systems must accurately determine the weight of goods for

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BUSINESSWORLD

Air watch

First Electric Partners REAN to Enhance Renewable Energy Accessibility in Nigeria

Oluchi Chibuzor

First Electric, a leading provider of solar energy solutions in Nigeria, has signed a landmark cooperation agreement with the Renewable Energy Association of Nigeria (REAN), to facilitate the accessibility of high-quality solar energy components for REAN members under flexible deferred payment terms. This strategic collaboration aims to accelerate the deployment of renewable energy solutions across Nigeria, furthering the country’s transition to sustainable energy.

Under the terms of the agreement, First Electric will supply REAN members with top-tier solar panels, inverters, and lithium batteries, all meeting industry standards and backed by extensive warranties. To support the growth and sustainability of Nigeria’s renewable energy sector,

First Electric will offer a 30-day deferred payment plan starting at the end of June 2025 to eligible REAN members, making solar energy products more accessible to businesses and individuals driving energy transition efforts in the country.

“This partnership aligns with our commitment to expanding access to clean energy solutions by eliminating financial and logistical barriers,” said Daniel Komolafe, Managing Director of First Electric. “By working with REAN, we can ensure that more businesses and individuals have access to reliable solar technology, fostering energy independence, and economic growth.”

“REAN is proud to collaborate with First Electric on this pivotal initiative,” said Dr. Oluwatosin Akande, Executive Secretary of REAN. “Providing our members

with easier access to high-quality RE systems while lowering upfront capex costs and easing liquidity constraints will hasten the ability of operators to deploy DRE solutions and projects to serve energy consumers across Nigeria. This agreement is a defining step in bridging Nigeria’s energy access gaps using sustainable measures and innovations.”

The cooperation agreement will remain in effect for an initial term of one year, with provisions for renewal. Both parties have committed to transparency, quality assurance, and continuous improvement in service delivery.

By reducing financial constraints and improving product availability, this partnership is expected to drive significant growth in Nigeria’s renewable energy sector, supporting the country’s energy security and sustainability goals.

A i r Watch NAHCO Reels Out Achievements, Holds AGM

2025 Budget: FCTA Allocates N137bn for Satellite Town Devt

Olawale Ajimotokan in Abuja

The FCT Administration has proposed the sum of N137 billion as capital expenditure for the Satellite Town Development Department in the 2025 budget.

FCT Minister, Nyesom Wike stated in his address while presenting the FCT 2025 statutory budget proposal to the House Committee on FCT, chaired by Hon Ibrahim Bomai.

The FCT capital budget estimates for 2025 is N1,289,690,124,776, representing 72.30 per cent for the development of infrastructure, with emphasis on completion of on-going projects.

The proposal indicated 11 per cent increase over the 2024 Revised Appropriation of the sum of N1,162,986,332,759.00.

According to Wike, out of the proposed capital expenditure, other Secretariats, Departments and Agencies (SDAs) were allocated the balance sum of N351.2 billion for their capital expenditure as well as few new projects.

He said the sum of N80 billion for SUKUK loan projects, N25 billion for Abuja Light Rail Project rolling stock and provisions for other phases, N15 billion for Abuja Greater Water Supply and the sum of N250 billion for commercial loans planned to complete some

ongoing capital projects in FCC and Satellite Towns while the balance sum of N919,690,124,776.00 is dedicated to the completion of the on-going capital projects and other counterpart funded related projects, aimed at enhancing socioeconomic activities of the FCT. The Federal Capital Development Authority (FCDA) is allocated the sum of N801.5 billion for its capital project.

The transportation sector has a provision of the sum of N79.3 billion with N27 billion out of the sum proposed for recurrent expenditure 2025 fiscal year and the sum of N52.3 billion is proposed for capital budget for the year 2025.

Stakeholders Say Farewell to Captain Shehu Iyal

Chinedu Eze

It took one week for aviation stakeholders to reconcile with the reality that they have lost one of their own, the late Captain Shehu Usman Iyal, who passed on in Lagos last Thursday.

Captain Iyal was embedded in the aviation industry, where he played many roles and where he made invaluable contributions that gave rise to benchmark achievements and policies that shaped the aviation sector Captain Iyal was former Senior Special Assistant to the President on Aviation Matters during the tenures of Chief Olusegun Obasanjo, the late Umar Musa Yar’adua and Goodluck Jonathan as Presidents of Nigeria.

He was also the Managing Director of Afri-Air International Limited, a fixed base facility and service provider at the Murtala Muhammed International

Airport, Lagos.

Captain Iyal who was born in Zaria, was a 1977 graduate of Ahmadu Bello University (ABU), Zaria. He was also an alumnus of the Nigeria College of Aviation Technology (NCAT), Zaria.

He was at the Rogers Aviation, Bedford, United Kingdom, where he obtained certification as Assistant Flying Instructor Rating (Procedures) in 1982.

Reacting to his death, former Deputy Secretary of Airline Operators of Nigeria (AON), Mohammed Tukur, told THISDAY he was shocked about the demise of late Captain Iyal.

“Captain Shehu Usman Iyal was a man of the people. He was simple, easy going and has put in over 40 years serving the aviation industry. He was people oriented and like to help others, no matter

Finchglow Travels Redefines Trade Partner Engagement with PartnerPlus Connect Chinedu Eze

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Energy Emmanuel Addeh Asst. Editor, Money Market Nume Ekeghe Correspondents KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) Reporter Peter Uzoho (Energy)

which part of the country you came from and which religion you profess.

We were together for a very long time. Sometimes we would take a flight together to visit Chief Olusegun Obasanjo, his former boss. I miss him dearly and you need to see the people he was supporting before he died. I do not know how they will manage now,” he said.

Another colleague and friend of the late Captain Iyal, who is the Managing Director, Flight and Logistics Solutions Limited, Amos Akpan, said, “Captain Shehu Usman Iyal was a very accommodating man.

His philosophy was, ‘No need to be tagged a rich man. Better to always have food, shelter, clothes and time to share with friends than to be a rich man.’ Shehu Iyal was a good listener and always willing to advise and offer assistance.

Nigeria’s leading travel consolidator, Finchglow Travels, brought together its top trade partners and major international airlines in Lagos for the 13th edition of PartnerPlus Connect (PPC), a vibrant, interactive live experience designed to deepen engagement between trade partners and airline collaborators.

This year’s PPC brought together top international and regional airlines, including Emirates, Delta Air Lines, United Airlines, Air Peace, and SABRE, alongside long-standing trade partners from across Nigeria’s travel sector.

The event featured interactive help desks and partner stands, where attendees could engage with Finchglow Travels’ team and explore solutions to real-time business challenges.

Finchglow Travels’ commitment to building strong relationships with its partners was evident throughout the event.

“We’re excited about the opportunities that come with working closely with our partners,” said Ezekiel Ikotun, Managing Director of Finchglow Travels, noting, “PPC 13.0 marked a significant milestone in our journey to deliver more value to our partners and drive growth in the travel sector.”

Abiola Bakare, B2B Manager at Finchglow Travels, added, “Our goal is to create a platform where our partners can come together, share ideas, and find solutions to common challenges. We’re proud of what we’ve achieved with PPC, and we’re looking forward to continuing to innovate and improve.”

Chinedu Eze Nigeria Aviation Handling Company Plc (NAHCO) has reeled out its achievements since the beginning of the year as it holds Annual General Meeting (AGM).

The company said 2025 promises to be a good year, as it welcomed a new Group Managing Director and Chief Executive Officer, Mr. Olumuyiwa Olumekun on January 1, 2025.

It was a homecoming of sorts for him, having been in the Company as executive Director.

“His arrival ushered in a new phase for the company.

The same month saw the signing of new contracts with Afrijet and Air Sierra Leone. Also, in January, NAHCO began the implementation of its ambitious 5-year strategic growth plan, which aims to guide the group towards achieving a targeted revenue of ₦300 billion by 2029,” said spokesman of the company, Tayo Ajakaiye.

The resilience demonstrated by the company over the years caught the attention of the industry’s regulator, the Nigeria Civil Aviation Authority (NCAA), who in February awarded the company the very important Industry Champion Award. This accolade underscores NAHCO’s leading role and high standards within the Nigerian aviation sector.

Shortly after the award, the organisation marked another milestone as the company secured federal government approval to handle radioactive materials in its facilities.

“The approval, jointly conveyed to the foremost ground handling service provider by the Nigerian Civil Aviation Authority and the Nigerian Nuclear Regulatory Authority (NNRA) was industry’s first and only such approval. It underscores the very important high standards which the Company continually sets for other players in the sector. This expansion of its service portfolio opens up new opportunities within specialized logistics and cargo management.

“The successes continued into April 2025, with the company being awarded the NIGAV Airline Cargo Ground Handling Service Award. This further reinforces the group’s expertise and excellence in cargo operations. Additionally, April saw a heartwarming recognition of one of NAHCO’s own, Auwal Dankode.

Mr. Dankode, a staff member, who received the NIGAV Unsung Hero award for his display of integrity, having returned a significant sum of $10,000 found during a cabin cleaning operation,” Ajakaiye stated.

Few weeks ago, the company announced the signing of ground handling contracts with a diverse range of airlines, including Royal Air Maroc, Kenya Airways, Enugu Air, Dornier, and Cronos, demonstrating the company’s strong market position and its ability to attract and retain key clients within the aviation industry.

New handling equipment, GSEs, are being procured by the Company to support its efforts at providing excellent experience to its clients.

So, ahead of the 44th Annual General Meeting of NAHCO scheduled for today, shareholders for the Company have been commending its unprecedented performance.

The commendation came on the heels of the declaration of FY 2024 audited results as profit before tax soared by 115.4 per cent to N18.70 billion in 2024 as against N8.68 billion in 2023.

Total revenue rose by 88.5 per cent from N28.40 billion in 2023 to N53.54 billion in 2024. With increased top-line efficiency, gross profit increased by 120.53 per cent to N33.08 billion in 2024 as against N15 billion in 2023.

Operating profit also jumped by 123.93 per cent from N8.86 billion to N19.84 billion, underscoring the fact that the group’s performance was driven mainly by core business operations.

Based on this result, the Dr Seinde Fadeni-led

board of directors has recommended distribution of N11.58 billion as cash dividends to shareholders for the 2024 business year, more than double of N4.95 billion distributed for the 2023 business year.

The Q1, 2025 Unaudited results of the Company submitted to the Nigerian Exchange (NGX), has also revealed that the Company is set to outperform the Q1, 2024 results with Q1, 2025 as revenue more than doubled the 2024 figure for the same period.

A statement by the Company pointed out that contracts renewal with clients has been concluded at the rate of 95 percent while new clients have been onboarded.

NAHCO is also taking delivery of new Ground Support Equipment just arriving the Lagos Seaport which will further help service delivery.

These series of developments have earned the commendation of shareholders, regulators and other stakeholders.

National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Moses Igbrude, commended the board and management of NAHCO for running the company in a way that delivers increasing values for the shareholders.

“NAHCO has done fantastically well, it has outperformed investors’ expectations. The present board and management are running the business very well,” Igbrude said.

He urged the company to continue its commendable growth trajectory, by continuing to explore other emerging opportunities.

President, Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar said NAHCO has shown very impressive performance, citing the company’s results for full-year 2024 and first quarter 2025.

According to him, in 2024, the Company had a robust financial performance which was unprecedented. He noted that the dividend of N5.94 per share declared by the board of directors is highly commendable.

“Looking at the 2025 first quarter result that witnessed a tremendous increase, we believe this year will be very impressive for shareholders. We commend the board chairman for his effective leadership, as well as the management and staff of the company for their dedication and commitment to the progress of the company,” Umar said.

Chairman, Proactive Shareholders Association, Mr. Taiwo Oderinde, speaking on the exemplary performance of the company said that the profit has been awesome.

According to Oderinde, Since the new investor came on board, the Company has been on the upward swing. The performance has been excellent. He urged the Board and Management of the Company not to rest on their oars even as he made a case for regular in-person AGM in the near future.

In her comments, the Chairman, Ark of God Shareholders Association, Mrs. Efunyemi Olatunde Obideyi said NAHCO has surprised all shareholders by its performance. Mrs. Obideyi said the jump in the share price from N4 per share to N85.00 was unimaginable. Declaring that any shareholder who knew it would be like this would have bought more shares, she said, NAHCO keep surprising all of us with their performance.

In the December last year, NAHCO Plc announced a new five-year growth plan that will strengthen existing businesses and open up new opportunities, with a target of N300 billion revenue.

The board and management of the company outlined key drivers of a five-year transformational growth plan aimed at further diversifying the group’s businesses within and outside Nigeria.

The story continues online on

www.thisdaylive.com

T H I S D AY • FRIday, May 23, 2025

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Economy

Rethinking Unemployment in Nigeria: Structural Failures and Need for Reform Adaeze Obi Nigeria’s unemployment crisis is not merely a statistical anomaly. It is a profound structural failure. Despite being Africa’s largest economy by GDP, the country grapples with one of the continent’s highest unemployment rates.

As of the second quarter of 2023, youth unemployment stood at 7.2%, with underemployment pushing the combined figure well over 70% in certain regions. These figures reflect deep-seated institutional dysfunction, policy inconsistency, and economic underutilisation.

One of the critical factors is the labour market paradox.

A glaring contradiction in Nigeria’s labour market is the simultaneous expansion of the labour force and stagnation in job creation. The population grows at an annual rate of 2.6%, adding approximately 5 million people each year, while the economy struggles to generate sufficient employment opportunities. Even during periods of economic growth, such as the 2010–2014 oil boom, employment rates remained largely unchanged, highlighting a disconnect between economic growth and job creation.

A 2022 World Bank report revealed that four out of 10 Nigerians live below the poverty line, and approximately 20 million young people are neither in education, employment, nor training (NEET). This is not just a developmental lag, it poses a national security risk. Another factor is sectoral breakdown.

Nigeria’s overreliance on the oil sector, which employs less than 1% of the labor force, undermines broader economic resilience. Agriculture, the largest employer, accounts for about 35% of total employment, but productivity remains low, largely informal, and highly susceptible to climate variability and insecurity.

The industrial sector, intended to be the cornerstone of job creation through manufacturing, contributes less than 10% to GDP and is hindered by inconsistent power supply, inadequate infrastructure, and limited access to finance. The Micro, Small, and Medium Enterprises (MSME) sector, suffers from high interest rates (20%–30%), burdensome taxation, and minimal institutional support. The third factor is the issue of missed opportunities -digital economy and green transitions.

The tech ecosystem, particularly in Lagos and Abuja, has demonstrated the potential to scale rapidly and absorb talent. Startups raised over $1.2 billion in 2022, more than any other African country. However, this growth is

predominantly urban-centric and capital-intensive, limiting its employment potential to highly skilled workers.

Similarly, Nigeria’s renewable energy sector, especially solar mini-grids and off -grid power, could be transformative in creating skilled and semi-skilled jobs. However, the sector remains underfunded and lacks a coherent national strategy or incentives. There is also the issue of policy fatigue and political apathy.

Numerous interventions such as N-Power, have been introduced with limited, short-term impact. The lack of policy continuity, coupled with corruption and poor data tracking, means many of these programs fail to scale or become politicized handouts rather than systemic solutions.

Moreover, labour laws remain outdated. The National Employment Policy, revised in 2020, lacks a realistic implementation framework, and collaboration between ministries is almost non-existent. To address unemployment effectively, Nigeria must undertake comprehensive reforms. First is massive investment in infrastructure with emphasis on power generation, rural roads, and digital connectivity.

Second, labour-intensive sectors such as agro-processing, construction, and textiles should be incentivized to absorb large numbers of workers. This requires targeted tax incentives, export support, and industrial clustering.

Third, there should be reform in the informal economy, which employs over 80% of Nigeria’s workforce. Formalizing them will expand safety nets and fiscal capacity. Fourth, the government should conduct a data-driven audit of existing skills versus market needs.

Fifth, there should be a decentralized policy innovation to allow states to design and execute labor market programmes tailored to local economic realities. What works in Lagos State won’t work in Zamfara State.

Finally, the government should introduce policies that protect gig workers, encourage apprenticeships, and incentivize companies to hire fresh graduates with reduced risk. Nigeria’s unemployment crisis requires structural reform, political will, and a paradigm shift in how growth is perceived. If Nigeria fails to absorb its young workforce now, the future may not be a dividend but a disaster.

•Adaeze is an accounting and finance expert with Techno Oil Limited, and an ex-PwC Senior Consultant.

26

T H I S D AY • FRIDAY, MAY 23, 2025

MARKET NEWS 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

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 21 May-2025, unless otherwise stated.

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: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 449.59 453.60 13.10% Afrinvest Plutus Fund 360.95 360.95 13.67% Nigeria International Debt Fund 100.00 100.00 17.65% Afrinvest Dollar Fund 113.04 113.04 2.66% 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 21.10% AIICO Balanced Fund 6.38 6.48 11.74% AIICO Eurobond Fund 100.00 100.00 6.96% Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 19.78% Anchoria Equity Fund 292.58 296.11 13.24% Anchoria Fixed Income Fund 1.44 1.44 10.32% 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 37.72info@anchoriaam.com 38.85 6.38% ARM Discovery Balanced Fund 838.45 863.73 5.48% ARM Ethical Fund 74.51 76.75 8.66% ARM Eurobond Fund 1.17 1.17 13.97% ARM Fixed Income Fund 1.25 1.25 25.49% ARM Money Market Fund 1.12 1.12 22.89% ARM Shariah Fixed Income Fund 1.07 1.07 15.23% ARM Short Term Bond Fund 1.02 1.02 4.79% ARM Short Term Eurobond Fund 1.00 1.00 22.03% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn 106.61 106.61 3.06% AVA GAM Fixed Income Dollar Fund 1,108.44 1108.44 3.65% AVA GAM Fixed Income (Naira) Fund 1.00 1 0.00% AVA GAM Money Market Fund AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00% AXA Mansard Equity Income Fund 0.00 0.00 0.00% AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 2.59 2.59 13.82% CEAT Fixed Income Fund 5.05 5.17 29.01% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.11 1.11 14.61% CardinalStone Fixed Income Alpha Fund 1.07 1.07 8.52% CardinalStone Equity Fund 1.34 1.35 7.95% CardinalStone Dollar Fund 1.00 1.00 23.69% CardinalStone Money Market Fund 1.03 1.03 3.45% CardinalStone Balanced Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapel Hill Denham Money Market Fund 0.00 0.00 0.00 Nigeria Bond Fund 0.00 0.00 0.00 Nigeria Dollar Income Fund 0.00 0.00 0.00 Paramount Equity Fund 0.00 0.00 0.00 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 0.00% 110.44 110.44 13.33% Cordros Fixed Income Fund 116.98 116.98 10.39% Cordros Halal Fixed Income Fund Cordros Dollar Fund ($) 114.01 114.01 7.30% Cordros Milestone Fund 196.56 197.99 8.45% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 0.00 0.00 0.00 Coronation Balanced Fund 0.00 0.00 0.00 Coronation Fixed Income Fund 0.00 0.00 0.00 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 0.00 0.00 0.00 EDC Nigeria Balanced Fund 0.00 0.00 0.00 EDC Nigeria Halal Fund 0.00 0.00 0.00 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 0.00 0.00 0.00 Emerging Africa Bond Fund 0.00 0.00 0.00 Emerging Africa Balanced Diversity Fund 0.00 0.00 0.00 Emerging Africa Eurobond Fund 0.00 0.00 0.00 Emerging Africa Halal Fund 0.00 0.00 0.00 FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Money Market Fund 100 100 20.99% FBN Bond Fund 1714.73 1714.73 11.22% FBN Dollar Fund 130.07 130.07 7.47% FBN Halal Fund 152.36 152.36 14.41% FBN Specialized Dollar Fund 122.49 122.49 8.17% FBN Balanced Fund 359.82 362.93 11.02% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund (LMMF) 0.00 0.00 0.00 Legacy Equity Fund (LEF) 0.00 0.00 0.00 Legacy USD Bond Fund (LUBF) 0.00 0.00 0.00 FCMB-TLG Private Debt Fund 0.00 0.00 0.00 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 income fund 4,585.25 4,585.25 11.87% Coral money market fund 100.00 100.00 21.25% FSDH HALAL FUND 1,249.92 1,249.92 13.72% FSDH dollar fund 1.29 1.29 6.19% Coral Balanced Fund 9,024.82 9,102.91 46.86% 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 0.00 0.00 0.00 ABACUS: Guaranty Trust Money Market Fund (GTMMF) 0.00 0.00 0.00 VEIF: Guaranty Trust Equity Income Fund (GTEIF) 0.00 0.00 0.00 VBF: Guaranty Trust Balanced Fund (GTBF)

0.00 0.00 0.00 VDF: Guaranty Trust Dollar Fund (GTDF) 0.00 0.00 0.00 VGIF: Guaranty Trust Fixed Income Fund (GTFIF) HILLCREST CAPITAL MANAGEMENT dabbey@hillcrestcapmgt.com Web: https://hillcrestcapmgt.com/; Tel: +2348075144540, 0214540094 Fund Name Bid Price Offer Price Yield / T-Rtn Hillcrest Balanced Fund 0.00 0.00 0.00 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 FIXED INCOME FUND 1,254.96 1,254.96 13.65% LOTUS HALAL INVESTMENT FUND 2.41 2.45 15.89% LOTUS HALAL EQUITY EXCHANGE TRADED FUND 33.95 37.53 27.82% LOTUS WAQF ENDOWMENT FUND 1,123.12 1,123.12 6.73% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 0.00 0.00 0.00 Meristem Value ETF 0.00 0.00 0.00 Meristem Growth ETF 0.00 0.00 0.00 Meristem Fixed Income Fund 0.00 0.00 0.00 Meristem Dollar Income Fund 0.00 0.00 0.00 Meristem Money Market Mutual Fund 0.00 0.00 0.00 MANGO ASSET MANAGEMENT jetadafe@mangoam.com Web:https://mangoam.com/; Tel: +234 7030839517 Fund Name Bid Price Offer Price Yield / T-Rtn Mango Naira Money Market Fund 1.00 1.00 21.20% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com

Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) 100.00 100.00 21.42% Norrenberger Islamic Fund (NIF) 105.21 105.21 14.11% NORRENBERGER DOLLAR FUND (NDF)-----($) 104.56 104.56 9.66% NORRENBERGER TURBO FUND (NTF)-----(N) 103.43 103.43 14.46% 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 10.00 10.00 16.96 PACAM Fixed Income Fund 12.66 13.10 3.62% PACAM Money Market Fund 2.97 3.04 13.76% PACAM Equity Fund 1.52 1.58 9.16% PACAM EuroBond Fund 139.02 143.81 1.39% SCM CAPITAL ASSET MANAGEMENT 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 The Frontier Fund 232.26 244.63 40.59% 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 0.00 0.00 0.00 SFS REIT 0.00 0.00 0.00 UH REIT/SFS 0.00 0.00 0.00 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 Money Market Fund Stanbic IBTC Bond Fund Stanbic IBTC Shariah Fixed Income Fund Stanbic IBTC Enhanced Short-Term Fixed Income Fund Stanbic IBTC Absolute Fund UPDC REIT Stanbic IBTC Balanced Fund Stanbic IBTC ETF 30 Fund Stanbic IBTC Ethical Fund Stanbic IBTC Guaranteed Investment Fund Stanbic IBTC Imaan Fund Stanbic IBTC Nigerian Equity Fund SIAML Pension ETF 40 Stanbic IBTC Aggressive Fund Stanbic IBTC Conservative Fund

STL ASSET MANAGEMENT LIMITED Web: WWW.STLASSETMGT.COM; Tel: 8136115170 Fund Name STL MONEY MARKET FUND STL BALANCED FUND STL DOLLAR FUND

UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name United Capital Money Market Fund United Capital Sukuk Fund United Capital Fixed Income Fund United Capital Nigerian Eurobond Fund United Capital Global Fixed Income Fund United Capital Stable Income Fund United Capital Equity Fund United Capital Balanced Fund United Capital Wealth for Women 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 Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Zenith Balanced Strategy Fund Zenith Income Fund Zenith Money Market Fund ZEDCREST INVESTMENT MANAGER LIMITED Web: www.zedcrestwealth.com; Tel: +2348075881240 Fund Name Zedcrest Money Market Fund Zedcrest Fixed Inocme Fund Zedcrest Dollar Fund

REITS Fund Name SFS REIT UPDC REIT

1.00 259.03 135.27 139.68 5,168.20 11.59 7,363.24 270.00 3.36 366.61 602.28 29,296.09 265.00

1.00 259.03 135.79 143.18 5,170.86 11.59 7,363.24 270.00 3.41 367.22 609.85 29,726.30 265.00

19.51% 0.16% 1.04% 1.63% 0.02% 2.05% 14.90% -34.15% -98.32% 3.64% 20.87% 15.65% -67.28%

9,605.56 7,624.66

9,731.98 19.95% 7,658.39 12.20% jemenike@stlassetmgt.com

Bid Price 100.00 1,186.76 102.58

Offer Price Yield / T-Rtn 100.00 21.15% 1,202.89 19.48% 102.58 2.58% unitedcapitalplcgroup.com

Bid Price 1.00 1.27 2.02 127.66 1.20 117.21 1.68 2.17 1.67

Offer Price Yield / T-Rtn 1.00 20.31% 1.27 10.09% 2.02 7.99% 127.66 6.47% 1.20 7.31% 117.21 20.28% 1.69 12.33% 2.18 9.72% 1.68 9.86% funds@vetiva.com

Bid Price Offer Price Yield / T-Rtn 11.45 11.55 38.81% 23.43 23.53 52.07% 39.92 40.12 10.67% 1.00 1.00 20.64% 0.00 0.00 0.00 0.00 0.00 0.00 service@quantumzenithasset.com.ng Bid Price Offer Price Yield / T-Rtn 25.47 25.79 19.79% 28.79 28.79 3.20% 1.00 1.00 20.35% investmentoperations@zedcrest.com Bid Price 1.00

Offer Price 1.00

Yield / T-Rtn 22.43%

1.21 $ 1.27

1.21 $ 1.27

31.37% 4.47%

NAV Per Share

Yield / T-Rtn

0.00

0.00%

7,658.39

12.20%

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.

This

Weekend

T H I S D AY •FRIDay, MAY 23, 2025

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

07010510430

TR

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Weekly Magazine UTH

& R E ASO

Dr. Cherry Eromosele: A Life of Inspiration Beyond the Boardroom

T H I S D AY •FRIDay, MAY 23, 2025

28

Cover

Dr. Cherry Eromosele: A Life of Inspiration Beyond the Boardroom

Dr. Cherry Eromosele is a dynamic force in Africa’s corporate landscape—a seasoned marketing executive whose influence transcends industries. With a career spanning nearly three decades, she has led transformative initiatives across FMCG, consumer healthcare, telecommunications, and fintech. Now serving as Executive Vice President, Group Marketing and Corporate Communications at Interswitch Group, Precious Ugwuzor writes that she exemplifies purpose-driven leadership, strategic brilliance, and a deep commitment to empowering others beyond the boardroom

S

ome professionals climb the corporate ladder quietly. Others leave a legacy—transforming industries, inspiring people, and shaping the future through a combination of vision, determination, and generosity. Dr. Cherry Eromosele is firmly in the latter category.

Trailblazing the Corporate Landscape Today, Cherry serves as the Executive Vice President, Group Marketing and Corporate Communications at Interswitch Group, one of Africa’s foremost digital payment companies. Her career spans about 30 years across multiple sectors—from fast-moving consumer goods (FMCG) and consumer healthcare to telecommunications and fintech—where she has consistently delivered transformative results and led critical brand and organisational initiative.

From Science to Strategy: A Bold Career Pivot Though she earned a degree in Biological Sciences from the University of Benin, Cherry’s professional journey took an intentional and bold turn. Driven by a desire to make meaningful impact, she transitioned into marketing and communications—demonstrating the kind of foresight, adaptability, and purpose-driven decision-making that would define her career.

Values-Driven Marketing Excellence Her marketing expertise is grounded not just in creativity and strategy, but in values.

She has shaped narratives, repositioned legacy brands, and introduced market strategies that deliver long-term value and visibility. Across every role, she’s brought clarity, excellence, and a deep understanding of what truly moves markets and people.

Powering Interswitch’s Pan-African Impact At Interswitch, Cherry’s leadership has been pivotal in positioning the brand as a continental fintech pioneer through visionary marketing strategies that have not only strengthened brand equity but have also advanced financial inclusion across Africa.

By translating complex digital finance offerings into relatable, accessible solutions, she has helped empower millions across underserved communities.

Leadership with a Human Touch Yet, Cherry’s influence is not confined to boardrooms or marketing dashboards. One of the most striking aspects of her leadership is her human-centred approach. She has consistently and quietly championed people welfare and upliftment in line with her unwavering passion for people. Whether advocating for better working environments, supporting charitable causes, or simply being a dependable mentor, she brings compassion into every space she leads.

Mentorship as a Mission Her dedication to mentorship and talent development is equally inspiring. Cherry continues to create platforms—both formal and informal—where young professionals, especially women, can gain the confidence, skills, and support they need to thrive. Her approach is both challenging and nurturing: she sets high standards but walks alongside others as they rise to meet them.

Accolades and Industry Recognition Recognition of her leadership has come in many forms, including an Honorary Doctorate in Business Administration from the Prowess University, Delaware, USA, in acknowledgment of her role in driving innovation and transformation

Dr. Cherry Eromosele:

across African markets. She is routinely listed among the top marketing executives on the continent, celebrated for both her strategic brilliance and the positive ripple effects of her leadership. Cherry is reputed as having contributed significantly to the changing face of marketing in Nigeria and beyond and was named among the Global Top 100 Marketing Leaders in Technology for two consecutive years.

Wellness, Elegance, and Wholeness But beyond her career achievements, Dr. Cherry Eromosele embodies a holistic lifestyle—one that reflects wellness, balance, and elegance. A passionate advocate of

fitness, she integrates physical well-being into her daily routine, demonstrating that peak performance in business is best sustained by a healthy body and mind. Whether in the gym, on a wellness retreat, or engaging in light-hearted moments with family and friends, she brings a refreshing reminder that leadership isn’t just about work—it’s also about living fully and joyfully.

Her sense of style and grace is also unmistakable. With a blend of authenticity and sophistication, Cherry brings class to every room she walks into—without ever compromising her values or accessibility. She is proof

that professional excellence and personal fulfilment can go hand in hand.

A Legacy Built on Purpose Above all, Cherry’s career is defined by consistency, not quick wins. In a world often driven by short-term optics, she continues to deliver sustainable value—grounded in purpose, integrity, and an unwavering commitment to doing things the right way.

As she continues to shape the future of digital finance in Africa, Cherry Eromosele’s greatest legacy may well be the leaders she inspires, the lives she touches, and the humanity she brings into every corner of her work and world.

29

T H I S D AY •FRIDay, MAY 23, 2025

news

From Icons to Innovators: How Amstel Malta Powered African Creativity at AMVCA 11

Amstel Malta recently reaffirmed its longstanding commitment to African storytelling and creativity as the headline sponsor of the 11th Africa Magic Viewers’ Choice Awards (AMVCA). From honouring industry icons to spotlighting emerging talent through initiatives like the Amstel Malta Monologue Challenge and Sleek MVPs competition, the brand played a central role in curating a dynamic four-day celebration of film, fashion, and cultural expression. Precious Ugwuzor writes that with such immersive brand experiences, strategic collaborations, and a continued focus on empowering African voices, Amstel Malta once again positioned itself as a driving force behind the continent’s entertainment landscape

Nigerian Breweries Leadership and Marketing Team

Gbugbemi Ejeye, Vine Olugu and Tomi Ojo

Akin Faminu

Deyemi Okanlawon

Stan Nze

Liquorose

Osas Igbodaro

Jimmy Jean-Louis

Jaycee Talks

Guest at the Amstel Malta Experience Booth On Cultural Day

Guest at the Amstel Malta Experience Booth

Obi—who captured stylish guests at the Amstel Malta Sleek Lounge—the brand crowned Akin Faminu and Liquorose as Amstel Malta Sleek MVPs, awarding each a N1million prize.

The initiative, rooted in selfexpression and confidence, mirrored the brand’s premium identity. On the other hand, the Amstel Malta Style Corner, which was hosted by media personality, Hawa Magaji, captured red carpet elegance and allowed guests to showcase their individuality on one of the biggest nights in African entertainment.

The evening culminated with Amstel Malta’s presentation of the prestigious Best Overall Movie award, which was presented to “Freedom Way” by Blessing Uzzi. The honour further cemented the brand’s support for bold, original African storytelling.

Reflecting on the brand’s continued role at the AMVCAs, Francis Obiajulu, Senior Brand Manager, Amstel Malta

& Hi-Malt, Nigerian Breweries Plc. said,“AMVCA 11 was a reflection of how far our industry has come and the incredible possibilities ahead. At Amstel Malta, we believe that creativity is not just to be consumed; it is to be nurtured, championed, and projected onto the global stage.

“This platform allowed us to honour legacy, spotlight originality, and inspire a new wave of storytellers who are unapologetically African, and globally relevant. Our continued presence at the AMVCAs is a clear statement of intent, we are ready to invest in the the growth, visibility, and more of African talent.”

Now in its new sleek can, Amstel Malta was at the heart of the 11th edition of the AMVCAs, driving a powerful celebration of film, fashion, and future-forward creativity.

With a continued focus on elevating African talent and storytelling, the brand remains deeply committed to celebrating and empowering the people and stories shaping the continent’s entertainment landscape.

N

igeria’s leading premium malt drink, Amstel Malta, once again demonstrated its support for African storytelling and creativity as the headline sponsor of the 11th edition of the Africa Magic Viewers’ Choice Awards (AMVCA).

Held from May 7th to 10th, 2025, the four-day event delivered a multi-layered celebration of Africa’s finest filmmakers, rising stars, cultural expression and cinematic excellence, with Amstel Malta playing a prominent role.

The festivities began with Icons Night, a tribute to industry legends who have paved the way in African entertainment.

This was followed by Young Filmmakers’ Day, hosted in collaboration with the MultiChoice Talent Factory, the day-long event spotlighted “Sound in Filmmaking” and served as a bridge between rising talent and industry leaders.

One of the day’s standout moments was the Amstel Malta Monologue Challenge, where aspiring creatives performed original works

before a live audience of professionals.

The winner, Anderson Eboreime, walked away with N250,000—but more importantly, the platform provided visibility and opportunity for voices to be heard. Guests also enjoyed a seamless brand experience with unlimited refreshments and immersive touchpoints curated by Amstel Malta throughout the event.

As the headline sponsor of the AMVCA, Amstel Malta has consistently championed the best of African creativity—celebrating the stories, talent, and vision that define the continent’s entertainment landscape.

For 11 years, the brand has used its platform to honour individuality, and style in meaningful ways. On the much-anticipated Awards Night, Amstel Malta upheld this tradition through the Amstel Malta Sleek MVPs competition.

In collaboration with renowned Nigerian photographer Kelechi Amadi-

30

T H I S D AY •FRIDay, MAY 23, 2025

business/MOnEYGUIDE

Obasanjo, Sanwo-Olu, Adesina to Speak at The AgriConnect Summit 2025 Oluchi Chibuzor

Former president, Olusegun Obasanjo, Governor of Lagos State, Babajide Sanwo-Olu, President of the African Development Bank (AfDB), Dr Akinwumi Adesina and other notable personalities will speak at the upcoming AgriConnect Summit 2025 aimed at bridging generations to build Africa’s agricultural future.

Organisers of the event in a statement said leaders, visionaries, and innovators across the African agricultural ecosystem will converge at the prestigious Oriental Hotel, Victoria Island, Lagos, for the second edition of The AgriConnect Summit.

The landmark event, the statement said, is dedicated to solving the continent’s most pressing food security challenges through collaboration, innovation, and youth engagement.

With this year’s theme, “Bridging the Generational

Divide: Tactics and Strategies for Building Future Agripreneurs,” the summit aims to empower and equip a new generation of agripreneurs to take the lead in shaping a sustainable agricultural future for Nigeria and Africa at large.

“The event will be chaired by former President of Nigeria, Chief Olusegun Obasanjo GCFR, a lifelong advocate for agricultural transformation and food sovereignty. The keynote address will be delivered by Dr. Akinwumi Adesina, President of the African Development Bank and a globally celebrated champion of youth-focused agricultural policies. Special guests include: the Consul General of China, Yan Yuqing, EU Ambassador to Nigeria, Ambassador Gautier Mignot and Governor Babajide Sanwo-Olu, Executive Governor of Lagos State.”

In a bold demonstration of its commitment to sustainable agricultural development, Lorien

Works, organisers of The AgriConnect Summit, will be hosting a free two-day workshop and training program from May 28–29, 2025, designed exclusively for aspiring agripreneurs. This workshop will offer practical insights into agribusiness finance, branding, market access, agritech innovations, and government support schemes.

“Participants will have the opportunity to pitch their agribusiness ideas to a panel of industry leaders for a chance to win grants and cash prizes of up to $5,000, along with mentorship opportunities to help them scale their ventures.

In addition, a special AgriTech Hackathon will bring together developers, engineers, and problem-solvers to create innovative, tech-based solutions to challenges in agriculture. The most promising projects will be recognised and rewarded at the main summit on May 30,” the statement added.

Signature Bank Declares N768.05m Profit in 2024 Kayode Tokede

Signature Bank Limited, has said that it has migrated from a loss before tax of N2.87 billion in 2023 financial year to a profit before tax of N768.05 million in 2024 financial year.

The lender also declared gross earnings of N12.84 billion in 2024, about 374 per cent increase over N2.69 billion reported in 2023, driven by strong performance in both core lending and fee-based income lines.

Signature Bank expanding substantially with total assets more than doubling to N178.9billion from N61.22 billion in 2023, while customer deposit stood at N130.6billion

in 2024, about 233 per cent increase from N39.20 billion in 2023, to reflect increasing confidence in its brand and services.

Speaking virtually to shareholders during the financial institution’s 3rd Annual General Meeting (AGM), the Acting Chairman, Signature Bank, Alhaji Tijjani Borodo, stated that the financial institution in 2024 recorded a remarkable turnaround in profitability.

Borodo said, “Our Profit Before Tax (PBT) swung from a loss of N2.86 billion in 2023 to a profit of N768 million.

This was driven by deeper market penetration in targeted segments and sectors, a diver-

sified revenue base, strengthened cost management, and disciplined execution of our strategic priorities.”

Also speaking to shareholders, the Ag. MD/CEO, Signature Bank, Dr. Chidiebere Nwokeocha said, despite an environment shaped by inflationary pressures, tight monetary policy, and exchange rate volatility, 2024 was a year of bold progress as it delivered significant growth across core financial metrics.

He added that “Looking ahead to FY 2025 and beyond, we are optimistic. With expected improvements in the macroeconomic environment, our focus will be on driving sustainable growth across key areas.”

Oat Construction Marks 25 Years of Building Legacy

Oat Construction Company Limited recently celebrated its 25th anniversary—marking a remarkable journey of growth, innovation, and contribution to the built environment in Nigeria and beyond.

Founded in 2000, Oat Construction has become a trusted name in civil engineering and infrastructure development. For 25 years, they have delivered enduring projects that span commercial, residential, and public infrastructure—setting benchmarks

for quality, professionalism, and client satisfaction.

“We are honored to reach this milestone,” added Mr. Adeniji, MD/CEO of Oat Construction. “Our 25-year legacy is not only a story of perseverance and hard work but of meaningful impact in the communities we serve.

As we celebrate 25 years, we also renew our commitment to sustainable development, cutting-edge engineering, and excellence in delivery.”

As part of the anniversary

celebrations, Oat Construction hosted a series of commemorative events, including an exhibition/lecture/dinner at the Radisson Blu Hotel in Ikeja GRA, Lagos.

“We thank the media and the public for their continuous support and invite you to join us in commemorating this milestone as we set our sights on the next chapter of progress”, the MD/CEO ended, ably supported by his wife, Mrs Mojisola Adeniji.

LAPO MfB Launches Tree-Planting Initiative to Combat Climate Change Sunday Ehigiator

In a bid to combat climate change and promote environmental sustainability, LAPO Microfinance Bank (LAPO MfB) has launched a tree-planting initiative in the Ado Awaye area of Oyo State.

The initiative, implemented in collaboration with the International Institute of Tropical Agriculture (IITA), aims to plant 3,000 trees across select communities in Ogun and Oyo States.

In a statement, the bank said the project, which kicked off in Ado Awaye, has already seen the planting of over 1,200 trees, featuring

indigenous species such as Akoko, Obi Edun, and Agbalumo.

“This initiative is more than a response to environmental degradation—it is a deliberate and strategic step toward climate resilience and ecological restoration.

“Climate change remains one of the most pressing challenges of our era, with widespread impacts that cut across continents. According to the United Nations, global temperatures have increased by about 1.1°C since the preindustrial era, with Africa experiencing warming even faster.

“The World Health Organisation warns that climate

change could result in an estimated 250,000 additional deaths annually between 2030 and 2050 due to malnutrition, malaria, and heat stress. Despite contributing the least to global emissions, Africa remains among the most vulnerable to its effects.

“Afforestation, the deliberate planting of trees in non-forested areas, has emerged as one of the most effective natural solutions to combating climate change.

It not only absorbs carbon dioxide but also supports biodiversity, combats desertification, and improves the quality of life for surrounding communities.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MILLION NAIRA) Month

NOVEMBER

Money Supply (M3)

108,966,480.44

-- CBN Bills Held by Money Holding Sectors

19,796.18

Money Supply (M2)

108,946,684.26 72,672,756.90

-- Narrow Money (M1)

36,273,927.36

---- Currency Outside Banks

4,652,527.74

---- Demand Deposits

31,621,399.62

Net Foreign Assets (NFA)

17,347,112.78

Net Domestic Assets(NDA)

91,619,367.66

-- Net Domestic Credit (NDC)

115,576,757.67

---- Credit to Government (Net)

39,616,629.91

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

75,960,127.77

--Other Assets Net

12,147,461.96

Reserve Money (Base Money)

30,871,571.25

--Currency in Circulation

4,878,125.22

--Banks Reserves

25,993,446.02

--Special Intervention Reserves

278,860.37 • Source - CBN

Money Market Indicators (in Percentage) Month

November

Inter-Bank Call Rate

28.88

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

27.50

Treasury Bill Rate

18.00

Savings Deposit Rate

6.56

1 Month Deposit Rate

8.48

3 Months Deposit Rate

9.53

6 Months Deposit Rate

12.13

12 Months Deposit Rate

14.22

Prime Lending rate

18.39

Maximum Lending Rate

31.06

NSE

NSE MARKET INDEX % Change

CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27.50%

OPEC DAILY BASKET PRICE As At 6TH JANUARY , 2025

The price of OPEC basket of twelve crudes stood at $76.18 a barrel on Monday, compared with $75.89 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

31

T H I S D AY •FRIDay, MAY 23, 2025

mARKET NEWS

NAHCO’s N11.6bn Dividend for 2024 Excite Shareholders Kayode Tokede

Ahead of the 44 th Annual General Meeting of NAHCO, shareholders for the Company have been commending its unprecedented performance.

The commendation came on the heels of the declaration of full-year 2024 audited results as profit before tax soared by 115.4 per cent to N18.70 billion in 2024 as against

N8.68 billion in 2023.

Total revenue rose by 88.5 per cent from N28.40 billion in 2023 to N53.54 billion in 2024. With increased topline efficiency, gross profit increased by 120.53 per cent to N33.08 billion in 2024 as against N15 billion in 2023.

Operating profit also jumped by 123.93 per cent from N8.86 billion to N19.84 billion, underscoring the fact

P R I C E S MaiN Board

F O R

DEALS

that the group’s performance was driven mainly by core business operations.

Based on this result, the Dr Seinde Fadeni-led board of directors has recommended distribution of N11.58 billion as cash dividends to shareholders for the 2024 business year, more than double of N4.95 billion distributed for the 2023 business year.

The Q1, 2025 unaudited

S E C U R I T I E S

Market Price

quantity traded

value traded ( N )

results of the company submitted to the Nigerian Exchange (NGX), has also revealed that the Company is set to outperform the Q1, 2024 results with Q1, 2025 as revenue more than doubled the 2024 figure for the same period.

Contracts renewal with clients had been concluded at the rate of 95 per cent while new clients were onboarded

T R A D E D MaiN Board

during the period NAHCO is also taking delivery of new Ground Support Equipment just arriving the Lagos Seaport which will further help service delivery.

These series of developments have earned the commendation of shareholders, regulators and other stakeholders.

The National Coordinator, Independent Shareholders

A S O F

Association of Nigeria (ISAN), Mr. Moses Igbrude, commended the board and management of NAHCO for running the company in a way that delivers increasing values for the shareholders.

“NAHCO has done fantastically well, it has outperformed investors’ expectations. The present board and management are running the business very well,” Igbrude said.

m ay / 2 2 / 2 5 DEALS

Market Price

quantity traded

value traded ( N)

32

FRIDAY, MAY 23, 2025 • THISDAY

NEWS

CONFERMENT OF PROFESSIONAL RESEARCH FELLOW AT AIMAS...

L–R: Lecturer I, Federal College of Education, Okene, Kogi State, Dr. Gbadura Adeniyi Otuoze; Registrar, African Institute of Management and Administrative Sciences (AIMAS), Dr. Ibrahim Simon; awardee of Professional Research Fellow, Dr. Ameh Rachael Folake; Co-Professional Research Fellow, Dr. Alabi Ayodeji Olorunmeye; and Research Senior Officer, National Biotechnology, Ilorin, Kwara Photo: ENOCK REUBEN State, Dr. Ayodele Tajudeen Justice, during the conferment ceremony by AIMAS in Okene, Kogi State, yesterday

P&ID Victory Demonstrates Nigeria Will Never again Be Exploited, Declares Fagbemi Dedicates win to ‘indefatigable’ legal team

Alex Enumah in Abuja The Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, has said Nigeria’s victory at the United Kingdom Arbitration, over Process and Industrial Development (P&ID) Limited, demonstrated that the nation would never again be exploited.

Dedicating the victory to the country’s legal team, Fagbemi spoke

during a courtesy visit by the team led by Mr Kofo Abdulsalam-Alada, the National Coordinator, Legal and Investigation P&ID FRN, Shaistah Akhtar, Partner, Mischcon De Reya, Head of Litigation team, Nigeria and others.

“This victory is not merely a legal triumph; it is a powerful message to the world that Nigeria will not be exploited and that justice will prevail.

“The P&ID case presented an

unprecedented challenge, threatening to impose a colossal financial burden on the Nigerian people.

“It was a complex and arduous battle, demanding meticulous preparation, astute legal argumentation, and an unwavering commitment to uncovering the truth.

“The whole country has celebrated our success in the Process & Industrial Developments Ltd (P&ID) case and applauded my resilience and

FG recovers $200m bond, $10m award

determination not to negotiate or settle with the fraudsters.

“But many do not know that my strength was derived from dedicated and uprightness of the FGN-P&ID coordinating team which was led

by Kofo Salam-Alada, who gave me the necessary support.

“The FGN-P&ID Team Coordinator and other stakeholders built the FRN’s case which you as counsel were able to present before the court,” he said.

Sanwo-Olu in UK, Says Lagos Home to Largest Rice Mill in Africa Urges Africans to unlock new pathways for youths

Emmanuel Addeh in Abuja The Lagos State Governor, Mr Babajide Sanwo-Olu, yesterday told a global audience in London, UK, that the state remains one of the most economically virile globally, housing the largest rice processing mill in Africa as well as the largest food logistics park in West Africa.

He also urged Africans to unlock new pathways for young people to thrive, by reforming higher education to make it more entrepreneurial and relevant to the rapidly evolving realities of the 21st century.

Sanwo-Olu spoke while delivering his keynote address at the official launch of the Centre for African Social and Economic Transformation (CASET) at the University of the West of England, Bristol.

He said Lagos State, which he has been privileged to lead as elected

governor since 2019, “embodies a megacity minting some of the most exciting artists and creatives in the world today, while also asserting itself as a global startup ecosystem, home to several unicorn companies.”

The governor said his administration, through some policies, is empowering young people with the skills, platforms, and capital they need to build businesses, create jobs, and drive change.

“Working alongside my team over the last six years, particularly through public-private partnerships, we have delivered transformational infrastructure, including a brand new and expanding metro rail system, the largest rice processing mill in Africa, West Africa’s most modern seaport, and an extensive system of modern transport networks seamlessly integrating road, rail and water.

“We are also currently building

the largest food logistics park in West Africa, as well as one of the largest paediatric facilities on the continent. Lagos is today home to the Dangote Refinery, the largest single-train petroleum refinery in the world, situated on the Lekki Peninsula, which itself happens to be one of the fastest-growing industrial and real estate corridors in the world,” he added.

In Lagos state, he explained that the government recognises the power of partnership as a way of overcoming the challenges that it faces.

“For us in Lagos, ambition and audacity are signature features for all that we do. We seek to build at scale to positively transform the lives and livelihoods of our people. This is why the vision and mission of CASET, to empower people and communities in Africa, resonate so deeply with me.

“As Governor of Lagos State— Africa’s largest city and economic

Boundary Dispute: Lagos Govt Drags Ogun Govt Before National Boundary Commission Segun James In a move that caught many by surprise, the Lagos State Government has dragged its Ogun State neighbour before the National Boundary Commission over boundary issues which has led to communal clashes between communities at the borderlines.

To forestall further communal clashes among residents of border communities, the Lagos State Government has approached the boundary commission to challenge Ogun State Government’s claim to

land along the borderline between both states.

The Lagos State Government is asking the boundary commission to come and delineate where lands between communities falls.

This came barely six months after the Ogun State Governor, Dapo Abiodun, declared that none of the state border land would be ceded to its neighbours including Lagos and Oyo states.

Announcing Lagos State Government’s decision during the 2025 ministerial press briefing on Thursday, the Commissioner for

Local Government and Chieftaincy Affairs and Rural Development, Bolaji Roberts, noted that the government through the Ministry received and addressed several reports relating to boundary issues in 2024.

“Within the period under review the Department attended to several reports relating to boundary issues in the State and its neighbouring State, Ogun State in Ojodu LCDA and Ifo LGA in Ogun State, Ikoga Zebbe and Ado Odo Ota in Ogun State and Ode Omi.”

powerhouse—I have seen firsthand how targeted investments in education, capacity building, digital technology, and enterprise can indeed transform lives,” he added.

The governor said taking an audacious move would drive entrepreneurship as a tool for economic empowerment and position Africa as a global leader in innovation, sustainability, and inclusive growth.

He said CASET stands as a beacon of bold and bright promise, and with collective effort, its impact will be felt across Africa and beyond, promising that Lagos state will be a willing and committed partner.

While stating that their reward lay in the knowledge that they had made a difference, the AGF pointed out that their efforts had also contributed to something greater than themselves.

“Your dedication, strategic prowess, and tireless efforts have secured a landmark victory for our nation, safeguarding its resources and upholding the principles of justice.

“Your teams rose to this momentous occasion, demonstrating not only legal brilliance but also a deep understanding of the intricate nuances involved.

“Your ability to navigate the complexities of international arbitration, expose the fraudulent underpinnings of the initial award, and ultimately secure a favorable judgment, is a testament to your outstanding expertise and unwavering resolve,” Fagbemi said.

Thus, On behalf of the Federal Republic of Nigeria, and all Nigerians, he said, “We commend your exceptional hardwork and express our sincere gratitude for your invaluable contribution.

“Your success has reinforced confidence in our legal system and protected our national interests.

Thank you for your service, your professionalism, and your part in this historic achievement,” he added.

Meanwhile, Nigeria has recovered the sum of $200 million it deposited to the tribunal in her appeal against a whopping $11 billion arbitral award in favour of P&ID Ltd, THISDAY has learnt.

Besides, the country has also received another sum of $10 million award as part of the $20 million cost award against P&ID. Shaistah Akhta,r who made the disclosure while answering questions from journalists, explained that the outstanding $10m was a subject of legal challenge by the firm.

She noted that the Nigerian case was among the only 14% of successful challenges against arbitral award cases.

“It was a great victory for Nigeria.

Such result has never been achieved before, and now it has served as a deterrent to others,” she said.

Alada, who doubles as a retiring Director of Legal Services at the Central Bank of Nigeria (CBN), equally praised the minister.

“When the judgment pressure was on AGF to settle the matter, he insisted Nigeria is not for sale to fraudulent scammers who are out to swindle the country.

“AGF and President Tinubu said no way. They stood their ground, and I tell you such will never happen to us again,” he added.

A London court had in 2023, quashed the $11 billion award against Nigeria in the controversial P&ID case bordering on a purported gas processing plant agreement with the Nigerian government in 2010.

The court squashed the award in favour of the company on the grounds that it was obtained through fraud and was contrary to public policy, effectively negating Nigeria’s obligation to pay the debt.

FG Tasks States’ Statisticians on GDP Compilation for Economic Growth

Francis Sardauna in Katsina

The federal government has tasked the states’ Statistician-Generals on the compilation of Gross Domestic Product (GDP) of their respective states in order to enhance data accuracy, economic growth and development.

The Statistician-General of the Federation, Prince Adeyemi Adeniran, gave the charge at the 2025 1st bi-annual meeting of the National Consultative Committee on Statistics in Katsina.

He said the statisticians should drive the compilation of GDP in their respective states and encourage their state governors to effectively utilise the data when compiled, for economic growth.

He added the compilation of the states’ GDP will promote development at sub-national levels and determine

the size of the economy of each state of the federation for development to thrive.

Adeniran explained the national bureau of statistics is supporting each state of the federation to ensure that they compile their state’s gross domestic product for budgeting and economic benefits.

He said: “One of the constant data requests coming from users and stakeholders in the past few years, including from states, has been state GDP. Users and interest groups want to know the size and potential of states for various reasons, mainly for developmental and investment purposes.

“So, it was only right that, as the Coordinator of the Statistical System, NBS took the initiative to work with the states to actualise this vision of having state GDP numbers for all

the 36 states and the FCT, through a coordinated effort.

“When you compile your GDP, you will be able to determine which sector is driving the growth in the state, which sector requires additional efforts the state government needs to put in so more growth and more size of the economy can be achieved.”

Adeniran, who is also the Chief Executive Officer of the National Bureau of Statistics (NBS), added the meeting aimed at mapping out strategies to ensure that states sufficiently take ownership of the exercise and its output.

In his remarks, Governor Dikko Umaru Radda admonished the participants to advance improved methodology for the compilation of state gross domestic product to tackle what he termed slow development at sub-nationals.

33

THISDAY • FRIDAY, MAY 23, 2025

NEWS

MINISTRY’s PRESS BRIEFING...

L–R: Permanent Secretary, Lagos State Ministry of Waterfront and Infrastructure Development, Mrs. Lolade Aina; Commissioner for Waterfront and Infrastructure Development, Hon. Yacoob Ekundayo Alebiosu; and Commissioner for Information and Strategy, Mr. Gbenga Omotosho, during the Ministry’s press briefing to mark the second year in office of the present administration, held at Alausa, Ikeja, yesterday

FG Sues Akpoti-Uduaghan over Assassination Allegations against Akpabio, Bello As suspended senator begs AGF to take over pending petitions Says police investigation unfairly stunted

Alex Enumah in Abuja The federal government has filed a three-count criminal charge against the senator for Kogi Central Senatorial District, Senator Natasha Akpoti-Uduaghan.

The suit dated May 15, 2025, but filed May 16, by Director, Public Prosecutions of the Federation, Mr. M. B. Abubakar, accused AkpotiUduaghan of making statements that would harm the reputation of a person.

According to the charge, the Kogi senator, who is currently under suspension from the senate, made the alleged harmful statement during a live broadcast on Channels Television’s Politics Today programme, aired on Channels Television on April 3, 2025 wherein she was said to have accused the senate president, Godswill Akpabio, and former Kogi State Governor Yahaya Bello of plotting to assassinate her.

While the federal government is the complainant in the suit, AkpotiUduaghan is the sole defendant.

In count one of the charge, the Kogi senator was accused of, “making imputation knowing or having reason to believe that such imputation will harm the reputation of a person, contrary to Section 391 of the Penal Code Law, Cap. 89, Laws of the Federation, 1990, and punishable under Section 392 of the same Law”.

According to the charge, the defendant had on or about April 3, 2025, during a live studio interview programme, “Politics Today”, aired on Channels Television in Abuja, made the following imputation concerning Akpabio, which include: “It was part of the meeting, the discussions that Akpabio had with Yahaya Bello that night… to eliminate me.”

“Let’s ask the senate president, why in the first instance did he withdraw my security, if not to make me vulnerable to attacks…”

“He then emphasised that I should be killed, but I should be killed in Kogi.”

Akpoti-Uduaghan was in count two accused of making similar imputation concerning the immediate former governor of Kogi State, Mr. Yahaya Bello.

Some of the statements the defendant was said to have made during the April 3 broadcast included: “It was part of the meeting, the discussions that Akpabio had with Yahaya Bello that night… to eliminate me.”

“When he met with him, he then emphasised that I should be killed but I should be killed in Kogi…”

The federal government alleged that the defendant knew or had reason to believe that such imputation would harm the reputation of Bello.

In count three the federal government claimed that Akpoti-Uduaghan had on or about March 27, 2025, during a two-way telephone conversation

with one Sandra C. Duru in Abuja, “made the following imputation concerning Senator Godswill Obot Akpabio, GCON, to wit: “That girl that was killed, what’s her name, umm Imoren Iniubong… her organs were actually used for the wife, because the wife was really ill… when they killed the girl, and her organs were used for the wife.”

The complainant claimed that Akpoti-Uduaghan knew or had reason to believe that such imputation would harm the reputation of Akpabio.

Both Akpabio and Bello who are

nominal complainants in the suit were listed as witnesses.

Others were Senator Asuquo Ekpeyong, Dr Sandra Duru, ACP Maya Ilya, and SP Abdulhafiz Garba.

Meanwhile, Akpoti-Uduaghan called on the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, to use the powers conferred on his office to take over several of her petitions pending at the Nigeria Police.

She predicated her call on the alleged refusal of the police to look into the petitions she made against Akpabio and the immediate past

governor of Kogi State, Bello.

The senator, who is currently serving a six months’ suspension from the senate, lamented that while the petition made by Akpabio against her had been treated with the speed of light, hers had been abandoned with no hope in sight for consideration by the police.

Akpoti-Uduaghan’s complaints against the police were contained in a letter she wrote the AGF, through her team of lawyers led by Ehiogie West-Idahosa.

The letter dated May 19, but received by the AGF on May 20,

is titled: “Failure to Investigate the Petitions Submitted by Senator Natasha Akpoti-Uduaghan to the Nigeria Police Force.”

The senator in the letter specifically accused the police of refusal or neglect to impartially investigate the numerous petitions she sent to the police.

Among the said petitions included that of threat to personal security; unlawful withdrawal of police security detail and immediate safety concerns; and petition on conspiracy/ plot to assassinate Akpoti-Uduaghan

by Akpabio and Bello.

Alleged N225bn Debt: Peter Obi Debunks Ownership of Fidelity Bank, Meeting President Chuks Okocha in Abuja Labour Party 2023 Presidential Candidate, Mr. Peter Obi, yesterday denied either owning Fidelity Bank or meeting President Bola Ahmed Tinubu over a fictional N225 billion debt crisis involving the leading financial institution.

Obi in a tweet from his official X handle, @PeterObi, berated a selfproclaimed “blackmailer-in-chief” for spreading lies about him and linking his recent brief meeting with Tinubu at the Vatican with Fidelity Bank.

The former Anambra State governor tweeted: “It’s obvious that the biggest business for blackmailers now is talking about Peter Obi from every negative perspective. Even my solemn spiritual trip to Rome has been twisted into yet another blackmail campaign by merchants paid ostensibly to propagate anything negative against Obi. “One such individual, whose entire life revolves around blackmail, falsely claimed that I went to Rome to have a private meeting with President Bola Ahmed Tinubu regarding a purported N225 billion debt crisis involving Fidelity Bank. These claims are not only baseless, malicious, but entirely false.

“Let me categorically state that I have never sought an audience with, nor met, President Tinubu since he assumed office, except about 1-minute meeting at the arena of Saint Peter’s Basilica Rome during the inauguration Mass of Pope Leo XIV, where I was seated behind, and had to respectfully greet him, and other dignitaries present.

“I was previously in Rome on the 9th of May for the lying in state of Pope Francis. Immediately after the mass and exchanging pleasantries, I went straight from Vatican City to London, and then back to Nigeria.

“The self-proclaimed “blackmailerin-chief” and others who thrive on spreading pain and falsehoods have

also claimed that I own Fidelity Bank.

For the record, I do not. Throughout my career, I have served as Chairman/Director of 3 banks/Financial institutions, of which Fidelity is one of them. Fidelity has over 500,000 shareholders, none of whom hold a majority stake. What this blackmailer seeks is to harm these hard-working Nigerians and cause them needless distress.

“To those peddling these falsehoods, and engaging in blackmail, I offer a simple prayer: May God grant you the virtues of gratitude and understanding to know that we came here with nothing and will go with nothing; that they cannot profit from their evil ways.

Linus Aleke in Abuja

Onyeme, called for a mixed model of funding for universities and also demanded tax exemption for the education sector in the country.

He noted the rising enrollment of students annually overstretch the meagre resources accruing to the universities.

Onyeme, a former Bursar of the National Open University of Nigeria (NOUN), said lack of funds has led to frequent industrial actions either by the academic staff or the non-academic staff or both.

He stressed that this is why students prefer private universities because they can predict their graduation time, as opposed to

the situation in public universities where timelines are uncertain due to industrial actions.

Poor funding, he said, has led to very poor research outcome, stating that when research is not well-funded, the outcome will also be poor.

He stressed that the absence of funds for proper maintenance of existing infrastructure has led to infrastructural decay on most university campuses.

To address this, the deputy governor advocated a mixed funding model, stressing that today’s bursars are not mere administrators but must become visionaries of financial transformation.

Bankole-Oki: Justice System Must Embrace Technology or Lose Public Trust Tertiary School Administrators Solicit As EFCC chair Olukoyede urges media to strengthen anti-corruption efforts More Funding for Nigerian Universities Wale Igbintade

Retired Justice Folashade BankoleOki has called for urgent reforms in Nigeria’s justice system, urging the judiciary, legal professionals, and the media to adopt technology, align with international best practices, and engage actively with public feedback to restore public confidence.

Delivering the keynote address at the Nigerian Association of Judicial Correspondents (NAJUC) Annual Lecture in Lagos, themed - “Strengthening the Administration of Justice Through Technology, International Best Practices, Media, and Public Feedback” - Justice Bankole-Oki said the justice system is in dire need of transformation.

“There is an urgent need to strengthen the administration of justice in Nigeria. Public trust has waned and rightly so. Rebuilding this trust is a collective responsibility,” she said.

She emphasised the media’s vital role, particularly judicial correspondents, whom she described as both informers and watchdogs.

While acknowledging the benefits of digital platforms in enhancing transparency, she cautioned against proposed regulations such as mandatory registration for bloggers that could stifle freedom of expression.

“Reporting should inform, not inflame. A defendant is not a convict.

A bill is not law until passed. These distinctions matter,” she said, urging

journalists to avoid sensationalism and report with accuracy and objectivity.

Justice Bankole-Oki praised innovations by the Lagos State Judiciary and called for broader adoption of virtual hearings, online dispute resolution (ODR), e-filing, paperless trials, automated transcription, and secure digital evidence systems.

She also emphasised the need for training of court personnel to effectively implement these tools.

Addressing the role of artificial intelligence (AI), she highlighted its usefulness in legal research, document review, and predictive analysis but warned against overreliance, stressing the need for human oversight.

Tertiary school administrators operating under the umbrella of the Association of Bursars of Nigerian Universities (ABNU) have called for more funding for universities in the country.

They also lamented that Nigeria is still lagging behind UNESCO’s minimum funding threshold of 15 percent of budgetary allocation to education.

Speaking at the unveiling and official launch of the association’s official magazine, “The University Exchequer,” in Abuja, the Deputy Governor of Delta State, Sir Monday

34

FRIDAY, MAY 23, 2025 • THISDAY

NEWS

DYNA DAY NIGERIA WORKSHOP...

L–R: Panel Moderator, Mr. Kayode Okikiolu; Chief Data and AI Officer, Wema Bank, Mr. Olamide Jolaoso; Vice President, Fintech Association of Nigeria and Managing Director/Chief Executive Officer, CreditRegistry, Dr. Jameelah Sharrieff-Ayedun; Chairman and Co-President, Dyna.Ai, Mr. Tomas Skoumal; Director, Intermarc, Mr. Adeyinka Alfred; and Chief Solutions Architect, Cyberspace, Mr. Evans PHOTO: SUNDAY ADIGUN Okosodo, during the panel session themed AI in Finance – Opportunities, Challenges and the Road Ahead, held as part of the Dyna Day Nigeria event in Lagos… recently

2027: Shekarau-led Northern Group Resolves to Back Coalition against Tinubu Urges INEC to declare seats of defecting Delta, Kebbi lawmakers vacant

Emmanuel Addeh in Abuja The League of Northern Democrats (LND), a political movement in Nigeria, established by a coalition of Northern Nigerian elites—including former governors, senators, academics, and business leaders, yesterday resolved to support the opposition against President Bola Tinubu‘s re-election in 2027.

The group which aims to address

the socio-economic and political challenges facing Northern Nigeria, in a communiqué, also demanded that federal lawmakers that recently defected to the All Progressives Congress (APC) from Delta and Kebbi should exit the National Assembly or be thrown out.

In the communiqué released after a meeting at the Nicon Luxury Hotel in Abuja, the group, convened

by Dr Umar Ardo and chaired

by former Kano state Governor, Ibrahim Shekarau, further resolved to engage the 19 Northern governors on what they described as their seeming inertia to the ‘terrible situation’ in the North.

“The League of Northern Democrats held a meeting chaired by its chairman, Senator Ibrahim Shekarau, with 147 members attending. After intensive discussions the following resolutions were adopted.

“We approved our constitution and minutes of previous meetings and directed the legal adviser to conclude the process of the registration of LND as an association; we approved the leadership of the LND as attached; we resolved to support the National Opposition Coalition Group chaired by Senator President David Mark in driving the transitional politics towards the 2027 general elections;

Nnamdi Kanu’s Terrorism Trial: Unlike Amotekun, ESN an Illegal Organisation, DSS Tells Court Alex Enumah in Abuja

A witness of the Department of State Service (DSS) in the trial of pro-Biafra nation agitator, Mr. Nnamdi Kanu, has told a Federal High Court in Abuja, that there is no comparison between the South West security group (Amotekun) and that of the Eastern Security Network (ESN).

The witness who made the clarification at the ongoing terrorism trial of Nnamdi Kanu, before Justice James Omotosho on Thursday, pointed out that while Amotekun is an organization backed by law, that of ESN was not backed by any law make it an illegal association.

Amotekun is a Southwestern regional security network set up in all the six states of the Southwest to complement the effort of security agencies in curbing insecurity, especially kidnapping, armed robbery as well as herdsmen and farmers contentions in the region.

The ESN, on the other hand was an arm of the proscribed IPOB, which assumed the position of tackling insecurity in the Southeast.

The witness, Mr. BBB spoke under re-examination by federal government lawyer, Chief Adegboyega Awomolo, SAN. Kanu is standing trial on a sevencount charge bordering on alleged terrorism and treasonable felony.

BBB is the second witness to testify against Kanu and also tendered documents allegedly linking Kanu to several killings in the Southeast said to have been orchestrated by the now proscribed Indigenous People of Biafra (IPOB).

In the said broadcast Kanu had claimed that the announcement of the establishment of ESN was because the southeast governors did not do what their counterparts in the southwest did in tackling insecurity, adding that since the southeast governors failed, they had to take things into

their hands.

According to the broadcast: “We have cowardly, spineless, lily-livered men as governors.

“ESN is to combat the excesses of the vagabonds that attack us from across the Sahel.

“ESN is not the Biafran army, just a security outfit similar to Amotekun in Yorubaland.

“ESN is our response to the excess bloodshed in our land.

“No governor in the southeast and south-south has the courage to defend our people because they are beholden to the caliphate, therefore IPOB must rise and protect our people”.

At Thursday’s proceedings, shortly after the defense finished questioning the witness, the prosecution counsel, Chief Adegboyega Awolowo SAN, asked the witness to differentiate between the ESN and Amotekun.

Responding, BBB told the court that while the ESN was formed without any backing of the law,

INEC Approves Creation of AI Division Adedayo Akinwale in Abuja The Independent National Electoral Commission (INEC) has approved the creation of a division on artificial intelligence at the commission.

INEC National Commissioner and Chairman, Information and Voter Education, Sam Olumekun, in a statement, said the Commission gave the approval at its regular weekly meeting.

He said the meeting considered the increasing relevance of AI to elections and electoral activities in Nigeria and across the world.

“Recently, the Commission attended several conferences with

colleagues around the continent on the impact of AI on elections.

“These interactions were not only motivated by the concern over the use of AI to spread fake news or manipulate content online but also to utilise its benefits for data-driven decision-making, risk detection and mitigation, deepening voter services automation and geo-spatial intelligence in support of logistic optimisation for better material distribution and polling unit allocation. ‘‘Consequently, the Commission approved the creation of an Artificial Intelligence Division under the ICT Department to continue to

harness the positive aspects of AI and mitigate its negative impact on elections.

“The Division will enable the Commission to better coordinate and maximise existing technology investments through centralised AI governance.

“It will also enhance decisionmaking through data-driven insights, risk management and voter engagement,” Olumekun noted.

The commission stressed that the division would also strengthen electoral credibility through predictive analytics, automation and intelligent safeguards.

the Amotekun security outfit on the other hand has legal backing from the respective Houses of Assembly of the affected states.

“My lord, while the ESN is not a registered organization recognized by law, Amotekun was established following the law passed by the respective Houses of Assembly in the affected States,” the witness stated.

Earlier, the trial judge restated his position on ensuring accelerated trial of the Biafra nation agitator, and warned against attempts to cause unnecessary delays in the hearing of the case.

He said with a three-month vacation of the Federal High Court slated for some time in July, it was incumbent on all parties in the case to work to get the job done as required, making the best use of time.

Both Chief Paul Erokoro, SAN, on the side of the defense and Awomolo for the prosecution, pledged to be on the same page with the court in the speedy hearing of the case.

While cross examining the witness, the defendant tendered some video clips including that by the Director General of Department of State Services, Oluwatosin Ajayi, where he asked communities to be the ‘first line of defence’ in addressing insecurity in the country.

In the video of a public engagement, the DSS DG also urged communities to be well guided by security agencies in their approach of security, and not take laws into their hands.

He said securing arms, for instance, must be with the supervision of the authorities, to forestall anarchy.

The other two videos contained in a flash drive admitted as exhibit in the case are those of former defence Chief, Theophilus Danjuma and that of Governor Hope Uzodinma of Imo State.

“We resolved to contribute in the dialogue on either registering a new political party or fuse into an existing one. We resolved that our first option is to register a new party in order to accommodate many independent members of the larger established political parties who currently feel reluctant to move into a smaller party but who are willing to move out to form a new party,” the group said.

Besides, the group said on the alternative, it would fuse into an existing party as a primary and necessary alternative, resolving to coordinate a meeting of a larger various northern groups as agreed a few weeks ago in the ACF meeting in Kaduna to solidify northern positions.

“We resolve to mobilise Northern Nigerians to pressure the government, particularly the National Assembly leadership, to uphold the provisions of the constitution which they swore to do.

“To this end, we resolve to mobilise Nigerians to a civil resistance against the leaderships of NASS to force them to declare the seats of all the legislators in Delta and Kebbi states who cross carpeted to other political parties as stipulated by sections of the constitution,” the organisation added.

It further decried the deepening poverty in Northern Nigeria, maintaining that it will soon meet with the 19 governors of the region on the situation, with a view to improving on the quality of life of the people.

“We resolved to engage the 19 Northern governors on their seeming inertia to the terrible situation in the North - endemic poverty, state of destitution of our people, insecurity, unemployment, and the appalling economic crisis in the region, which we concluded is as a result of poor governance at the state and local government levels,” the league explained.

House Launches Probe into Nonpayment of Presidential Wage Award to Nigerian Pensioners Juliet Akoje in Abuja

The House of Representatives has resolved to set up an ad hoc committee to investigate the delay in implementing the N25,000 wage award and N32,000 palliative package approved by President Bola Ahmed Tinubu for Nigerian pensioners nearly two years ago.

The House also urged the Ministry of Labour and Employment and the National Pension Commission (PenCom) to conduct a comprehensive nationwide audit of pension payments.

The lawmakers also urged state governments to emulate the federal government by making pension payments and welfare initiatives for retirees a top priority in their respective jurisdictions.

Furthermore, the House called on the Ministries of Finance, Humanitarian Affairs and Poverty Alleviation, the Accountant General of the Federation, the Central Bank of Nigeria (CBN), and the Pension Transitional Arrangement Directorate (PTAD) — to implement all approved pension increases without further delay and also urged the Ministry of Finance to release all outstanding

palliative funds intended for pensioners and ensure their immediate disbursement to help ease the retirees’ suffering.

These resolutions followed the adoption of a motion of urgent national importance on the need to address the intractable challenges faced by pensioners due to nonpayment of pension increment by the government and allied institutions in Nigeria moved by the Deputy Chief Whip, Ibrahim Ayokunle Isiaka, at plenary yesterday.

Isiaka, while presenting the motion noted the prolonged non-payment of the presidentially sanctioned support, emphasising the urgent need for remedial action.

He highlighted the invaluable contributions of Nigerian pensioners to national development and recalled that in October 2023, Tinubu approved a N25,000 wage award and an additional N32,000 pension increase for federal retirees.

He explained: “Many pensioners still face significant hardships due to the non-payment of these increments and the continued withholding of critical palliatives, resulting in insufficient income, unmet basic needs, and deteriorating health.”

35

THISDAY • FRIDAY, MAY 23, 2025

NEWS

ROTARY INTERNATIONAL DISTRICT 9112 CONFERENCE...

L–R: Chairman, Public Image Committee, Rotary International District 9112 and Assistant Governor, Mr. Ehi Braimah; District Governor, Mr. Femi Adenekan; District Governor-elect, Mr. Lanre Adedoyin; and District PHOTO: SUNDAY ADIGUN Conference (DISCON) 2025 Chairman, Past Assistant Governor, Mr. Tony Eigbokhan, during a press conference organised for the inaugural DISCON of District 9112 in Lagos, yesterday

Tinubu Asks National Assembly to Consider N1.48trn as Rivers 2025 Budget Estimate HURIWA condemns idea, calls it assault on democracy Women lament, want state back

Chuks Okocha, Sunday Aborisade and Juliet Akoje in Abuja

President Bola Tinubu has asked the two chambers of the National Assembly to consider the sum of N1.48 trillion as the 2025 budget of Rivers State.

President Tinubu stated this in a letter he addressed to the President of the Senate, Godswill Akpabio and Speaker of the House of Representatives, Rt Hon. Tajudeen Abbas.

The official communication was read simultaneously at both chambers by the presiding officers during plenary yesterday.

But the Human Rights Writers Association of Nigeria (HURIWA), has condemned what it described as an unconstitutional, brazen, and coordinated attempt to undermine democracy in Rivers State, following the presentation of the state’s 2025 budget

by Tinubu to the National Assembly for approval.

This was as Rivers women under the aegis of Rivers Women Unite for Sim (RWUS) have lamented the state of the state, claiming that they wanted back the state they used to know flourishing in business and life.

Tinubu, in the Appropriation Bill, explained that N324 billion was earmarked for infrastructure development in the fiscal year.

He also said N166 billion would be spent on the health sector, N75.6 billion for Education, N31.4 billion for Agriculture and N5 billion for free drugs distribution to all categories of people in the state, noting that the budget prioritised the creation of 6,000 jobs.

The two chambers accordingly referred the money Bill to their committees on Emergency rule in Rivers State,

to report back as soon as practicable .

The letter read in part: “Please find forwarded herewith the 2025 Appropriation Bill for Rivers State for the consideration of the Senate.

“The Distinguished Senate may wish to recall that Rivers State is currently under emergency rule, which was proclaimed and duly gazetted in March 2025.

“Regulation 4, subsection 2(f) of the Emergency Rule 2025 requires authorisation for expenditure from the Consolidated Revenue Fund of Rivers State in the absence of a functioning state assembly.

“It is expected that the National Assembly acts on behalf of the state assembly, hence this request for Senate approval of the Rivers State Government 2025 Appropriation Bill.

“The total sum of N1.481 trillion is allocated for both ongoing and new infrastructure projects. The sum of N166 billion is earmarked for the health sector, including N5 billion for free drugs to treat malaria and other common ailments.

“The sum of N75.6 billion is proposed for the education sector, while N31.4 billion is allocated for agriculture.

“This spending plan prioritises investment in critical sectors such as infrastructure, health, education, and agriculture, which is projected to generate approximately 6,000 jobs.

“Accordingly, I hereby forward the Rivers State Government 2025 Appropriation Bill and trust that it will receive the expeditious and favourable consideration of the Senate.

“Please accept, Distinguished Senate President and Distinguished Senators, the assurances of my highest regards.”

The National Assembly had on March 20 approved Tinubu’s request to impose a state of emergency in Rivers State. On May 6, it inaugurated an ad-hoc committee to oversee the administration of the emergency rule in the state.

The committee in the Senate, is being chaired by Senate Leader Opeyemi Bamidele (Ekiti Central).

Other members include Adamu Aliero (Kebbi), Osita Izunaso (Imo), Osita Ngwu (Enugu), Kaka Shehu (Borno), Aminu Abass (Adamawa), Tokunbo Abiru (Lagos), and Adeniyi Adegbonmire (Ondo).

The rest are Senator Sani Musa (Niger), Simon Lalong (Plateau),

Chuks Okocha in Abuja and Ahmad Sorondinki in Kano

Sunday Aborisade in Abuja

Senators from the South-east geopolitical zone yesterday drew the attention of the Senate to successive strategic exclusion of the region from key development projects of the federal government.

The latest according to them, was the N3.2 trillion Renewed Hope Infrastructure Development Funded irrigation development projects under the 2025 Appropriation Act. Their protest was sequel to a motion moved by Kenneth Eze from Ebonyi State.

Rising under Orders 41 and 51, the senator expressed frustration

Oyo State State Governor, Seyi Makinde, has reaffirmed his commitment to the Peoples Democratic Party (PDP), saying he had no intention of leaving the party despite recent defections and internal challenges.

This was as the presidential campaign posters of the governor have flooded the streets Kano, taking over signboards on major roads, and sparking speculation about his 2027 aspirations.

Speaking during the official inauguration of the newly elected PDP South West zonal executive members at the party’s zonal secretariat, Soji Adagunodo House, Old Ife Road,

His 2027 posters flood Kano streets

Ibadan, Makinde declared that the PDP would remain aligned with the masses and their aspirations.

“People have been asking us as leaders of this party that a lot of people are decamping, even governors, and some others are threatening to decamp and all of that. And they said, look, where is this party going?

“Well, I have good news. I said to the people that we will not be bothered until hunger has decamped to the ruling party, APC. “The day hunger decamps, they should come and tell us and, then, we will know what to do. Because there is hunger in the land and majority of the people that are hungry would determine what 2027 would look like.

“So, don’t be bothered. If any

HURIWA: It’s Assault on Democracy

HURIWA, has condemned what it described as an unconstitutional, brazen, and coordinated attempt to undermine democracy in Rivers State, following the presentation of the state’s 2025 budget by President Bola Ahmed Tinubu to the National

Assembly for approval.

In a statement by its national coordinator of the group, Emmanuel Onwubiko, HURIWA declared that Tinubu’s action represented “a creeping dictatorship,” a mini coup, and a dangerous descent into authoritarianism under the guise of emergency rule.

The group also indicted the Supreme Court of Nigeria and the leadership of the National Assembly as conspirators in this “anti-democratic script,” calling the development a blatant affront to the 1999 Constitution and a red flag for Nigeria’s democracy.

According to HURIWA, the transmission of a sub-national budget by

the President to the National Assembly — citing an emergency rule that has not been duly and lawfully declared with the involvement of democratic institutions — amounted to an illegal takeover of governance structures in Rivers State.

“The President’s action is not only unconstitutional but also a shameful desecration of Nigeria’s federal system,” it stated, adding that, “What exactly is President Tinubu telling the world?

“That a sitting president can arbitrarily suspend democratic governance in a federating unit and rule by decree through his cronies in the legislature and judiciary? What genre of democracy is this?”

South-east Senators Protest Region’s Exclusion from FG’s N3.2tn Irrigation Funds

I Won’t Abandon PDP, Oyo Governor, Makinde, Reiterates Amid Defection Spree Insists hungry Nigerians will decide 2027

Asuquo Ekpeyong (Cross River), Adams Oshiomhole (Edo), Ireti Kingibe (FCT), Onyekachi Nwebonyi (Ebonyi), Idiat Adebule (Lagos), Ede Dafinone (Delta), Mohammed Nakudu (Jigawa), and the Clerk of the Senate, Andrew Nwoba.

governors like, let them decamp.

We will stay with the people of Nigeria,” Makinde said.

He assured party faithful that the PDP remained strong and resilient despite the storm of defections, noting that unlike the APC, the PDP has sustained strong institutional structures.

“I read an analysis where they said the PDP has been building strong men but not strong institutions. I beg to differ. The PDP lost power at the federal level in 2015 but PDP did not die.

“After then, I read an article sometime around 2017 which was about PDP and its many crises in Oyo State. Despite the crises, we won election in Oyo State under PDP.

over what he described as mounting complaints from his constituents and the wider South-East geopolitical zone over recurring marginalisation of the region.

Eze noted that Section 4 of the 1999 Constitution empowers the National Assembly to make laws for equitable national development.

Sections 14(3 and 4), he added, mandate fairness and justice in resource distribution.

He added that the 2025 budget allocates N3.2 trillion under the Renewed Hope Infrastructure Development Fund, with N38 billion set aside for irrigation projects nationwide.

However, Eze pointed out, while the programme is designed as a national initiative, its implementation plan excludes the Anambra-Imo River Basin Development Authority.

He said it is the only authority

serving the entire South-east.

He described the omission as “unjustifiable” and contrary to President Bola Tinubu’s Renewed Hope agenda, which emphasises equity and inclusivity.

Eze said: “The South-east, with its vast arable land and long-standing contributions to Nigeria’s agriculture sector, deserves to benefit from this fund.” He cited statistics showing the region accounts for 30 per cent of national yam production and over 15 per cent of cassava output. He also referenced major agricultural initiatives operating in the region.

Eze listed key irrigation and agricultural projects in the Southeast—such as the Auzara and Okaku Agribusiness clusters, and the Ivo Dam Irrigation Project—that could significantly benefit from the fund if included.

He, therefore, prayed the

Senate to urge Tinubu, through the Federal Ministries of Finance, Budget and National Planning, and Water Resources and Sanitation, to urgently address the imbalance in the allocation of the N38 billion irrigation fund.

In addition, he asked them to mandate the creation of an ad-hoc committee to investigate the causes of the exclusion of the Southeast from the irrigation programme and report back within four weeks.

Furthermore, he urged the Senate to direct the Minister of Water Resources and Sanitation to include provisions under the 2025 budget’s omnibus or discretionary allocations to immediately support irrigation projects in the South-east.

Other senators contributed to the debate on the motion, including Orji Uzor Kalu, who seconded the motion.

CNS: We Need Spiritual Solutions to Surmount Insurgency, Terrorism, Others Linus Aleke in Abuja

The Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, has said the nation needed a spiritual approach, in addition to military strategy, to surmount the rising spate of insurgency, terrorism, banditry, kidnapping, and other emerging security threats in the country.

Ogalla said this during the commissioning of the newly constructed worship centres at Admiralty Estate, Navy Town, Asokoro, Abuja, as part of activities marking the 69th anniversary celebration.

According to him, “We recognise the challenges that we are facing these days, the challenges of insurgency, terrorism, banditry, kidnapping, and other emerging security threats confronting us as a nation. They are challenges that require a whole-ofsociety approach.

“So, while we look for military solutions, we also believe that spiritual solutions are part of what we need to surmount the challenges. The places of worship are key in shaping the minds and characters not only of our personnel but also of other Nigerians.”

He charged the Chaplains and

Imams to make good use of the facilities so that the nation could see a change in the character of not only personnel but also every other worshipper who will use the worship centres.

He stressed that one of the key areas that the Nigerian Navy recognised in the performance of its constitutional duty was the upliftment of the spiritual wellbeing of its officers and ratings.

“We take it as a priority to provide the chaplaincy with the necessary requirements to perform their assigned duties,” he said.

36

FRIDAY, MAY 23, 2025 • THISDAY

NEWS

MOU SIGNING BETWEEN IHS NIGERIA AND NSCDC...

L–R: Ogun State Commandant, Nigeria Security and Civil Defence Corps (NSCDC), Mrs. Remilekun Omolade; Chief Commercial Officer, IHS Nigeria, Mr. Akeem Adeshina; Senior Vice President and Chief Corporate Services Officer, IHS Nigeria, Mr. Dapo Otunla; Commandant General, NSCDC, Dr. Ahmed Abubakar Audi; Executive Vice President and Chief Executive Officer, IHS Nigeria, Mr. Mohamad Darwish; Acting Deputy Commandant General, NSCDC, Dr. Eze Benito; Director, Legal, IHS Nigeria, Mrs. Yemisi Diya-Salawu; and Commandant, Lagos Liaison Command, Mrs. Modupe Onilede, during the MoU signing between IHS Nigeria and NSCDC, held at IHS Nigeria’s corporate office in Lagos… recently

Zulum: I’m Happy FG Responded Swiftly to Our Plea to Push Back B’Haram Attacks Michael Olugbode in Maiduguri

Borno State Governor, Prof. Babagana Zulum, has expressed excitement after the federal government responded to his plea to push back attacks by Boko Haram.

Zulum returned to Marte yesterday, after spending a night in the community last Saturday.

The visit was part of the ongoing efforts to restore peace, rebuild trust

and foster sustainable development in the Lake Chad region, infested by members of the Boko Haram terrorist group.

Zulum has been coordinating security logistics and building resilience among residents affected by the recent surge in Boko Haram attacks.

According to a statement by the governor’s press team, Zulum has since last Saturday visited nine communities of Marte, Kala-Balge,

Wulgo, Ngala, Lugumani, Gajibo, Koibe, Dikwa and Ajiri.

The governor was said to have during the visit held closed door meeting with military commanders aimed at receiving proper briefings on modalities for restoring peace in Marte and the surrounding communities.

On his return to Marte, he said, “I am here to monitor the efficacy of our ‘re-resettlement’ of the residents we conducted a few days ago.

“I am very happy to note that the community is fully back, and soldiers are on ground. Normal economic activities have resumed in Marte.

I am very happy, and insha Allah, normalcy will be restored soon.”

The governor was accompanied by member representing Marte, Monguno and Nganzai constituencies at the House of Representatives, Bukar Talba; Commissioner for Local Government and Emirate Affairs, Sugun Mai Mele;

Commissioner for Agriculture, Bawu Musami; Permanent Secretary of Government House, and Barr.

Mustapha Ali Busuguma, among many senior officials.

Commending the federal government and the military for responding to his call for the protection of Marte from falling to the insurgents, Zulum said, “The federal government and the Nigerian Armed Forces have responded positively to our request

to enhance security in the affected communities. We have seen many troops deployed and many pieces of equipment deployed.

“I want to commend the Nigerian Armed Forces for the cooperation they have been giving us; without their support, we couldn’t have done much. I want, once again, to commend all stakeholders that have contributed to our search for peace and the restoration of normalcy.”

Tinubu Consolidates an Expanding APC, Dwindling Opposition Weighs Counter Options

ahead of the 2027 elections.

The political leaders from the zone made their decision known on Wednesday night in Abuja at the APC North Central zone stakeholders’ meeting.

The motion to endorse Tinubu for 2027 was moved by the Secretary to the Government of the Federation, Senator George Akume.

While reading the communique after the meeting, the Governor of Nasarawa State, Abdulahi Sule commended the president for the numerous developmental strides being executed across the North Central zone.

The communique was jointly signed

by Akume, Governors Abdulrahman Abdulrazak of Kwara, Sule, Rev. Fr .dr. Hyacinth Alia of Benue, Umar Bago of Niger, Usman Ododo of Kogi, Senator Simon Lalong, and Mr. Zaphani Jisalo, Minister of Special Duties.

Sule added that from infrastructure projects, road rehabilitation, educational upgrades, to rural electrification and agricultural initiatives, the positive impact of his Renewed Hope Agenda was gradually transforming the region into a hub of opportunity and growth.

The governor stressed that the region acknowledged these efforts as a clear demonstration of the president’s sincere commitment to equity and national development.

“We, the leaders and critical stakeholders of the All Progressives Congress (APC) from the North Central Geo-Political Zone of the Federal Republic of Nigeria, after extensive deliberations on matters of national importance and regional development at our strategic meeting held on Tuesday, May 21st, 2025, at the Lagos/Osun Hall, Transcorp Hilton Hotel, Abuja, hereby resolve as follows: “Unanimously pass a vote of confidence in the President’s leadership and endorsement for second term: “Having critically examined the current trajectory of national governance and noting the courage, foresight, and tenacity with which President Bola Ahmed Tinubu has steered the ship of State amidst daunting challenges, we unanimously pass a vote of confidence in his administration.

“In furtherance of this conviction, we wholeheartedly endorse President Tinubu to contest for a second term in office as President of the Federal

Republic of Nigeria come 2027, in order to consolidate the gains of his reforms and bring them to full fruition.”

The North Central leaders also passed a vote of confidence in the leadership of the party led by Ganduje for promoting internal democracy, party unity, and progressive governance.

Sule added that they affirmed their unwavering loyalty and alignment with the core ideals of the APC. Earlier, the Coordinator of North Central APC and Governor of Kwara State, Abdulrazaq said despite the transitional inconveniences of the early stage, the president’s reforms were bearing good fruits, and the future looks bright.

Noting that this was clear from all measurable economic indices, Abdukrazaq commended the president for the national forest guards policy, saying the bold effort placedlocal communities at the heart of our national security strategy.

According to him, “It is a policy that we are confident will effectively secure our forests and curtail activities that are inimical to the safety of lives and property and the territorial integrity of our nation. The North Central has never been this favoured in national reckoning. Yet our region stands to gain a lot more.

At this meeting, Ganduje commended the president for providing the enabling environment for the party and for also executing reforms that are positive, making the ruling party attractive for people to feel that APC was a party to join.

The meeting was also attended

by Deputy Senate Leader, Senator Oyelola Ashiru, Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, Information Minister, Mohammed Idris, Minister of Water Resources, Prof. Joseph Utsev.

Others were former Governors Yahaya Bello, Tanko Almakura, Abubakar Sani Bello (Niger), Ahmed Wase, former deputy speaker, House of Representatives; Minister of Water Resources and Sanitation, Prof. Joseph Utsev, among others.

Opposition Coalition Mulls Its Options

Opposition coalition against the All Progressives Congress (APC)

and President Bola Tinubu ahead of the 2027 elections, has entered a new phase with the appointment of a two-term Senate President, David Mark, as its chairman.

Also, a former Minister of Power and Steel and former governor of Cross River State, Liyel Imoke was appointed the chairman of a committee to determine whether to continue with existing political party.

At the same time, the immediate past Minister of Transportation and ex-governor of Rivers state, Rotimi Amaechi, was nominated to chair the committee to consider the registration of a new political party against the APC in the 2027 general election.

These details were disclosed by the convener of the League of Northern Democrats, Dr. Umar Ardo, after a meeting where they resolved to join the coalition of opposition against the APC. In a communique signed by the chairman of the League of Northern Democrats, Ibrahim Shekarau and Ardo, they said, ‘’We resolved to support the National Opposition Coalition Group chaired by Senator President David Mark in driving the transitional politics towards the 2027 general election.’’

He also said the National coalition group against APC appointed two committees to decide whether to join any of the existing political parties and to register a new political party for the coalition to join.

Accordingly, Ardo said, “Dr. Liyel Imoke is to chairs committee on whether to continue the coalition on existing political party. Also, Rotimi Amaechi is to chair the committee whether to register a new party for the coalition exercise.”

On the League of Northern Democrats, Ardo explained that, ‘’We approved our constitution and minutes of previous meetings and directed the legal adviser to conclude the process of the registration of LND as an association. ‘’We resolved to contribute in the dialogue on either registering a new political party or fuse into an existing one. ‘’We resolved that our first option is to register a new party in order to accommodate many independent members of the larger established political parties who currently feel reluctant to move into a smaller party

but who are willing to move out to form a new party. ‘’In the alternative, to fuse into an existing party as a primary and necessary alternative. We resolve to coordinate a meeting of a larger various northern groups as agreed a few weeks ago in the ACF meeting in Kaduna to solidify northern positions.

“We resolve to mobilise Northern Nigerians to pressure the government, particularly the NASS leadership, to uphold the provisions of the Constitution which they swore to do. ‘’To this end, we resolve to mobilise Nigerians to a civil resistance against the leaderships of NASS to force them to declare the seats of all the legislators in Delta and Kebbi States, who cross-carpeted to other political parties as stipulated by Sections of the constitution. ‘’We resolved to engage the 19 Northern governors on their seeming inertia to the terrible situation in the North - endemic poverty, state of destitution of our people, insecurity, unemployment, and the appalling economic crisis in the region, which we concluded is as a result of poor governance at the state and local government levels,” the communique stated.

Amaechi’s C’ttee Submits Report

Meanwhile, the Rotimi Amaechi committee of the opposition coalition has submitted its report, recommending the formation of a new political party with the name All Democratic Alliance (ADA).

A document sighted by THISDAY, and signed by Amaechi, titled: ‘’Justification for the Founding of the All Democratic Alliance (ADA) and dated May 20, claimed that, ‘’The All Democratic Alliance (ADA) is envisioned not merely as a political party but as a national renaissance movement, deeply rooted in democratic idealism.”

On justice, and visionary leadership, the document stated that, “ADA offers a credible, people-centered alternative to existing political formations, aiming to unify all or most of the nation’s opposition groups and individuals and re-establish trust and common purpose amongst themselves.”

Discussing the strategic timing and

political opportunity, the report stated that, “Rising public disillusionment with both ruling and opposition parties has created a political vacuum.

“ADA is uniquely positioned to capture the aspirations of patriotic elites, youths, professionals, and disenchanted voters. Offers a real alternative to the current political system and Channel the growing demand for national healing and competent leadership.”

Hinting at the guiding philosophy and ethical compass, it stated that, ‘’ADA is founded on moral clarity, drawing inspiration from the enduring symbolism of a Tree— representing: Strength and Stability, Wisdom and Knowledge, Growth and Renewal.”

With heritage and tradition, it stated that the party “seeks to redefine leadership in Nigeria based on vision, merit, ethical governance and public spirit. ‘’The Logo, Manifesto and Constitution encapsulate the symbolic power of the party, its Vision and Mission and Core Objectives, all outlining the ideological principles and values on which the party stands,” adding that, “The Motto of the party is Justice for All.” In view of this, the committee stated that, ‘’The All Democratic Alliance is not just viable — it is imperative for Nigeria’s survival and renewal.

Its founding principles, structure and vision reflect a strategic, moral and political readiness to contest and win the 2027 general elections.”

The Sub-Committee therefore urged the coalition to ‘’Adopt the registration of a new political party asits first approach to engaging the incumbent for the 2023-2027 transitional elections.

The report noted that the Subcommittee was constituted about two weeks ago to look at the feasibility of registering a new political party as a viable vehicle to successfully challenge the incumbent government in the 2027 general election. ‘’The Sub-committee met, discussed extensively on the subject matter and arrived at two resolutions. First, it formulated its arguments justifying the registration of a new political party as the best approach in successfully defeating the incumbent. Second, it recommends and provides a name, logo, manifesto and constitution of the new party.

‘’A new party serves as a common platform with a unified all opposition groups around a new vision and purpose, thus overcoming fragmentation and distrust among the diverse opposition groups; ‘’Public Perception of Authentic Change: Nigerians are more likely to support a new, purpose-driven party that symbolises a clean break from old brands. ‘’Moral High Ground: Attempting registration tests democratic institutions. If blocked (which is highly unlikely if a public approach is taken), it exposes government and INEC bias, thereby rallying public sympathy and international support; ‘’Legal and Political Leverage: Denial of registration offers grounds for judicial redress (e.g., writ of mandamus), strengthening the opposition’s case for electoral reforms; ‘’Confusion and Weakening of Incumbents: The exodus of credible opposition leaders to a new platform would destabilise existing parties (PDP, APC, NNPP, LP), creating internal turmoil; ‘’Mobilization Power: A new party can be built with broad coalitions of all critical opposition stakeholders from inception, avoiding legacy baggage and appealing to youth, independents and disenfranchised Nigerians; ‘’Narrative Control: A newly formed party can craft and own its political narrative and brand identity from scratch, unlike co-opting an existing one with historical liabilities; ‘’Symbolic Rebirth of Democracy: Represents democratic renewal and reawakening, offering a psychologically powerful alternative to politics-as-usual; and ‘’Testing Democratic Integrity: The process of registration challenges the fairness of INEC and promotes accountability and transparency in the system early enough before elections.

“Registering a new political party is not just a tactical maneuver – it is a bold strategic act that redefines the opposition’s purpose, unites diverse stakeholders, mobilises public sentiment, creates an authentic alternative to entrenched political forces and spontaneously galvanizes popular momentum. It is the clearest path to inspiring hope, energising voters and transforming Nigeria’s democratic future.”

FRIday MAY 23, 2025 • T H I S D AY

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NEWSxtra

courtesy VISIT TO ACCESS HOLDINGS …

L-R: Group Chief Communication Officer, Access Holdings Plc, Amaechi Okobi; Group Head, Private Banking, Abiola Bolaji; Acting CEO, Bolaji Agbede; Oniru of Iru Kingdom, Oba Abdulwasiu Omogbolahan Lawal; his wife, Olori Miriam Lawal; Deputy Managing Director, Access Holdings Plc, Chizoba Okoli; Head, Government and Stakeholders Management, Victor Willie, and Head, Media Relations, Kunle Aderinokun, during visit by the monarch to the financial conglomerate in Lagos…recently

Abure: Labour Party to Provide More Opportunities for Women to Contest Elections Chuks Okocha in Abuja

Ahead of the 2027 general election, the factional National Chairman of the Labour Party(LP), Julius Abure, has stated that the party will give more opportunities for women to participate in the elections.

Abure, while speaking yesterday in Abuja at the Aju Morgan Elumelu Foundation (AMEF), noted that leadership is a major challenge bedeviling the country hence women

must collaborate to take over leadership positions in the country.

According to Abure, the LP has taken the lead in appointing women in political leadership positions, adding that the party has deliberately created opportunities for women to participate, not just in the affairs of the party, but have also given them opportunity to run for offices, hence the 2027 elections will not be different.

“I want to assure you that

Former Minister of State for Science and Technology, Chief Henry Ikoh, has said there are very strong indications of President Bola Tinubu’s victory in 2027 presidential election.

Ikoh, who spoke at the All progressives Congress (APC) National Summit in Abuja said the event was a clear indication of Bola Tinubu’s impending victory and has urged the Labour Party presidential candidate in 2023 election, Peter Obi, to throw his support behind Tinubu and the APC in the interest of the country.

According to a statement, applauding Tinubu and the National Chairman of APC, Alhaji Abdullahi Ganduje for their leadership within the party and the country as a whole, Ikoh expressed confidence in their ability to lead Nigeria to

greater heights.

While acknowledging the current challenges facing the nation, Ikoh emphasised that President Tinubu is laying a solid foundation for the country’s future.

He believes that Nigeria is on the cusp of transitioning from a consumption-based economy to a production-driven nation, thanks to the visionary leadership of Tinubu and the APC. Despite the skepticism surrounding the ruling party’s performance in recent years, Ikoh remained optimistic about their chances in the 2027 election.

According to him, he is confident that the groundwork laid by President Tinubu will soon begin to bear fruit, ushering in a new era of prosperity for the Nigerians.

Former Minister Predicts Tinubu’s Victory in 2027 Election

by 2027, God sparing our lives under our leadership, we will provide more opportunities for women. We appreciate the fact that culturally, economically, financially, there are several inhibitions against women’s

participation.”

“I want to assure you that the LP is ready and determined to break those challenges that will encourage women to participate,” he said.

The Chief Executive Officer,

AMEF, Amb. Aju Elumelu, on her part lamented low representation of women in leadership positions.

She, however, appealed to President Bola Tinubu and other stakeholders in the polity

to ensure 35 per cent women’s representation and empowerment in leadership positions.

“The goal here is to have women in leadership, elective, appointed positions not just in politics but across board.”

‘Killing of Security Personnel is Same as Killing of the Spirit of Nigeria’

Michael Olugbode in Abuja

The Director-General(DG) of the Institute for Peace and Conflict Resolution (IPCR), Dr. Joseph Ochogwu, has called on Nigerians to support security personnel in their efforts to maintain peace and stability in the country.

The DG explained that security

agencies, including the police, army, Department of State Security (DSS), Nigerian Security and Civil Defence Corps (NSCDC) and other security agencies are symbols of our nationhood.

Ochogwu, while urging Nigerians to refrain from attacking security personnel, emphasised the importance of respecting and

supporting those who work to protect the country and its citizens.

He stressed the need for cooperation between law enforcement and the masses to maintain peace and order.

Ochogwu noted that attacking security officers undermines the fabric of our nationhood, adding: “On no condition can citizens

attack our security officials, whether they are in service or not, on duty or not. They represent the symbol of our nationhood, so when we debase them, when citizens mock, scorn, abuse, harm, or kill them, what they are doing is killing the spirit of Nigeria and the things that hold us together as a nation.”

Uyo Residents Lament Lack of Basic Amenities, Unplanned Environment the city is prone to flooding said to have struck people as like a rural community looking

Okon Bassey in Uyo

Some residents of Uyo, the Akwa Ibom State capital, have expressed concern that the city has remained largely unplanned, lacking basic amenities like public water supply, an efficient transport system and tarred streets.

With its fast growing into a megacity, it was observed that

whenever there is heavy rain while people are at the risk of losing their property as a result of the perennial flooding.

They said the recent incident, which happened at Urua Ekpa Road within the metropolis, has exposed the nature of Uyo’s inner streets and homes.

The Urua Ekpa’s scenario was

houses, shops, and streets were flooded with people scooping water from their business premises, even the University of Uyo Town Campus and Annex were not left out.

Streets like John Udo Akpan; Michael Udofia Word Bride Avenue, Off School Road, and others reportedly make Uyo look

unpaved and filthy.

About two years since Governor Umo Eno assumed office, Uyo is not still witnessing any meaningful transformation and it was with much outcry by civil society groups that potholes on the major roads were filled recently while a lot still remains to be done.

I Won’t Step Downmonitored for Atiku in 2027, Says Ex-SDP Presidential Candidate

by THISDAY while he [Atiku] has not said anybody they will want to come in and

Chuks Okocha in Abuja

reacting to growing speculations about a possible opposition coalition ahead of the polls.

Amid claims that the SDP could be co-opted into a broader alliance to challenge President Bola Tinubu, Adebayo was emphatic in stating that neither he nor Atiku has the power to “use” the party.

“I will not [step down], and

should step down. Neither me nor Vice President Atiku Abubakar can use the SDP. The SDP belongs to the Nigerian people. Nobody can use it.”

“What can happen is that people, who now believe that the SDP is right, and that their ideologies align, can come to the party. Knowing that the party is open and democratic,

compete, because you have the best chance of competing in a system that hasn’t been bought over by anybody.”

“But if you think the SDP is something you can just use,it cannot be used. What you can do is align with the SDP and respect its ideology and the work that has been done by those who are already there.”

Ahead of 2027, a governorship aspirant on the platform of Peoples Democratic Party(PDP) in Kwara state, Alhaji Ladi Hassan, yesterday urged the members of the party in the state to see the ongoing membership registration as a move to revive its political

heritage in order to ensure electoral victory of the party in the future elections.

Hassan spoke in Ilorin with journalists on the sideline of the ongoing PDP registration exercise across the 16 local government councils areas of the state.

He said: “This step is not just symbolic but it is a

movement of purpose and to ensure the unity and progress of the PDP in Kwara State.

This registration of the new PDP members is in the spirit of unity, progress, and political awakening “I am passionately addressing all PDP members and the good people of Kwara State with a heartfelt call to

action.” “Every true son and daughter of Kwara to stand firm, stand united, and stand tall under the banner of our great party, the PDP.” “Together, let us strengthen our base, mobilize the grassroots, and ignite the flame of loyalty and solidarity across every local government in Kwara State”.

prominent indigenous oil and gas services company, has formally petitioned the House of Representatives to intervene in a long-running financial dispute with an international service company, Saipem Contracting Nigeria Limited.

Nigeria Limited, Mr. Ipalley Lawson, in a statement called on the lower legislative chamber to convene a public hearing and direct Saipem to pay an alleged $3.5 million debt owed it alongside accrued interest.

Lawson also urged the

apparent inaction of the Economic and Financial Crimes Commission (EFCC) despite past findings and arrests linked to the matter.

“This is not merely a contractual dispute—it is a grave injustice against a Nigerian enterprise.

We trust the House will uphold

accountability,” Lawson said.

The petition, submitted to the House Committee on Public Petitions, according to the statement, included a detailed record of events, legal filings, contracts, and EFCC documentation.

The 2023 presidential candidate of the Social Democratic Party (SDP), Adewole Adebayo, has declared that he will not step down for former Vice President Atiku Abubakar in the forthcoming 2027 general election.

Adebayo made this known during a television programme

Cult Declares Man Wanted for Failure to Replace Father Kwara 2027: PDP Guber Aspirant Tasks Members on Registration Daodu, a native of Oka Akoko Ibrahim OyewaleinLokoja In desperate bid by the Ogboni Confraternity to initiate a young man into its fold to replace his father, the Oka Akoko Ogboni Cult has declared one Daodu Stephen wanted for in fulfilment of the father’s pledge.

Following the latest development, the family are apprehensive of the consequences, calling on the well-meaning Nigerians and government to intervene and save the family from impending danger.

While speaking in a chat with journalists in Lokoja yesterday ,Mr. Gbenga Daodu, explained that members of Oka Akoko confraternity are now after his sibling, Daodu O. Stephen, who has not been seen in past few years.

in Ondo State, explained that his younger brother , Daodu Stephen whose whereabouts is yet unknown since the demise of his father in 2018 has been declared wanted.

He called on the government to bring such evil cults under close scrutiny, adding that since June 2020, his nephew has been forced to abandon his source of livelihood to an unknown destination for safety.

“No one will be in his shoes that will not be afraid because his choice was hinged on the fact that he is the first son of the deceased father, who was my uncle. He does not want to have anything to do with the society but the society won’t have any of that. So, he had no choice than to flee the country for safety,” he stated.

Hammed Shittu in Ilorin

Nigerian Oil Firm Petitions House over Alleged $3.5m Saipem Debt Petroquip Nigeria Limited, a Managing Director of Petroquip parliament to investigate the the rule of law and ensure

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FRIday may 23, 2025 • T H I S D AY

NEWSxtra

EMPOWERING WOMEN ENTREPRENEURS…

L-R: Assistant General Manager, Production, Dangote Cement Plc(DCP),Gboko, Tavershima Soom; Group Head, Social Performance, DCP, Mr. Wakeel Olayiwola; Head, Social Performance, Gboko Plant, Johnson Kor, and Mrs. Mwuese Amou, at the 2025 Women Empowerment Programme by the company in Gboko, Benue State…recently

C/River Gov Wants Enhanced Collaboration with Customs on Economy, Security

Bassey Inyang in Calabar

The Cross River State Governor, Senator Bassey Otu, has asked the Nigeria Customs Service(NCS) for stronger partnership and cooperation with the state

in order to drive economic growth and bolster its security.

Otu made the call when he paid a courtesy visit to the Comptroller-General of NCS, Bashir Adewale Adeniyi in Abuja.

Governor Otu commended

the NCS for its outstanding role in national revenue generation and security, acknowledging its impressive N6.1 trillion revenue haul in

2024.

Otu said that the Cross River Command contributed approximately N200 billion to this feat, underscoring the

state’s strategic relevance to the nation’s revenue generation.

He also praised the professionalism and dedication

of Customs officers deployed to the state, particularly those engaged in anti-smuggling operations at the Mfum and Ikang borders with Cameroon.

Obokun Stool: Court Fixes July 3 for Applications as New Judge Takes Over Suit

has performed the due A. Aderibigbe due to complaint the one requesting the stoppage Diaspora Economic Council Yinka Kolawole in Osogbo hecoronation process in line of bias from the Arimoro family. of the coronation of Prince The new judge stated that Haastrup.

The High Court of Osun State, with the established tradition Launched in the UK The Arimoro family of Ilesa, has adjourned till July 3, and culture of Ijesland for the all parties must be served, A new group has been formed food bank stores to support in the Diaspora to support Nigerians and the country’s development. The group named, Diaspora Economic Council for Nigeria(DECN) was formed to act as a think tank to drive ideas to support the Nigerian economy, drive foreign investments into Nigeria as well as support citizens to overcome economic challenges.

Speaking in Southampton in the United Kingdom (UK), the Convener of the group, Dr. Esanerovo Agbodo, stated that DECN will be an economic think tank in the Diaspora for Nigeria as well as support Nigerians in any way feasible to boost the economy of the nation.

According to him, DECN plans to open food subsidy/

Nigerians as well as engage in free skills acquisition programmes to empower the youths to create more employment opportunities as well as to curb crime rate.

“Scholarships and other charity programmes will be run from time to time to support the vulnerable in the society,” he said.

Agbodo explained that the group has immediately moved into action by launching a food bank/discount store to support citizens.

He disclosed that the group will mobilise resources from Nigeria in the Diaspora to carry out other projects to increase employment opportunities and reduce crime rate in the country.

2025, a suit seeking to restrain the new Owa Obokun of Ijesaelect, Prince Clement Adesuyi Haastrup, from proceeding with the planned coronation until

selection of the new Owa Obokun.

The case has, however, been assigned to a new judge, Justice J M Agboola, from Justice Dr. A.

Ibrahim Oyewale in Lokoja

representing Yagba Federal Constituency of Kogi State in the lower chamber of the National Assembly, Leke Abejide to the All Progressives Congress (APC).

Fanwo, noted that the projects executed by the lawmaker so far suggests that he’s a progressive.

emphasising that the court will not grant any injunction until all applications regarding service and harmonisation of parties are addressed, including

Bilaro Oluodo Ruling House (Ilesa), has instituted a case against false coronation claims

by Prince Clement Adesuyi Haastrup, and nine others.

Kogi APC Leaders to Receive Only ADC House Member, Leke Abejide

Kogi State Commissioner for Information and Communications, Kingsley Fanwo has disclosed that the peace moves by Governor Usman Ododo has paved the way for the lawmaker

According to him, Abejide’s party, Action Democratic Congress (ADC), is too small for his status and the majority of them have started telling him to come back to the progressives’ family..

Speaking on the possible defection of Abejide to APC,

Fanwo said: “The majority of the people of Kogi State are very happy with the Governor.

The Governor is relating with everyone, including Rt Hon. Leke Abejide. No Governor will ignore a big factor, a performer and a lover of his people like Elder Leke Abejide.

Dettol Reinforces Commitment to Public Health, Sponsors NMA Conference Mary Nnah

Dettol, Nigeria’s leading hygiene brand, has reinforced its commitment to advancing healthcare standards by cosponsoring the 65th annual general meeting(AGM) and Scientific Conference of the Nigerian Medical Association

(NMA).

The event, held from April 27 to May 2, 2025, in Katsina State, brought together healthcare stakeholders to deliberate on strengthening healthcare delivery through standardised practices and effective public policy.

The conference was themed “The Universal Applicability of

Care Standards for Patients and the Well-being of Healthcare Providers”, and Dettol took the opportunity to engage directly with the nation’s medical community while spotlighting the vital role of antimicrobial protection in preventing disease outbreaks and strengthening community health resilience.

Managing Director/CEO of Harley and Rainbow Specialised Laboratories and Diagnostics, Dr. Owoyele Ademolu, delivered a compelling presentation titled “Community Health Resilience: Leveraging Hygiene Protection in Outbreak Prevention”, on behalf of the brand.

Savannah Energy Posts Strong Q1 2025 Performance

Savannah Energy Plc, the British independent energy company focused around the delivery of Projects that Matter in Africa, has trading update for first quarter(Q1) of 2025.

According to a statement, the Q1 2025 unaudited results showed a strong financial

performance, with the company’s total revenue increasing by 19 per cent to US$73.3 million, compared to US$61.4 million in Q1 2024. This was driven by the successful completion of the SIPEC acquisition and expansion of the Stubb Creek oil field, which contributed

approximately US$3.6 million of the revenue.

The report also showed that its cash collections in Q1 2025 increased by six per cent to US$124.8 million, compared to US$117.7 million in Q1 2024.

As of 31 March 2025, its cash balances stood at US$110.4

million, compared to US$32.6 million as of 31 December 2024, while net debt during the period stood at US$597.8 million (it was US$636.9m by YE2024). This included debt associated with the SIPEC Acquisition, which if excluded, would have further reduced to US$570 million.

Dangote Supports Women Entrepreneurs in Benue

In a bold boost for women entrepreneurship in Nigeria, Dangote Cement Plc has empowered businesswomen in host communities in Benue State with cash grants, thus deepening business activities in the state.

The women empowerment

programme came months after the Dangote Cement in Gboko increased bursary payments to students of host communities by more than 100 per cent.

Speaking at the ceremony in Gboko, Group Head, Social Performance, Dangote Cement Plc, Mr. Wakeel Olayiwola

said: ““Through this scheme, selected women entrepreneurs in host communities will receive N100,000 grants each to strengthen and expand their businesses.”

“The financial support aims to boost local enterprise development at the grassroots

level, empowering female business owners with capital to scale their operations. Each beneficiary will use the funds to address specific business needs, from purchasing inventory to upgrading equipment, creating tangible economic impact in their communities.”

UNICEF, Sokoto Partner to Boost Nutrition, Health of Children The initiative, launched by a safe space for Almajiri children children, including 150 Almajiri and

Onuminya Innocent inSokoto

A groundbreaking Digital Village aimed at enhancing digital skills and learning opportunities for Almajiri children and out-of-school adolescent girls has been inaugurated in Sokoto State.

UNICEF in collaboration with the Sokoto State Government and partners, seeks to bridge the digital divide for vulnerable children and promote their economic independence and social inclusion.

The Digital Village provides

and out-of-school adolescent girls to acquire digital and vocational skills, technological literacy, and youth innovation.

According to UNICEF, the Digital Village will offer structured training sessions three times a week for 250

100 out-of-school adolescent girls.

The training curriculum includes digital literacy, vocational skills, foundational literacy, numeracy, and life skills development, tailored to meet the unique needs of these vulnerable groups.

39

THISDAY • FRIDAY, MAY 23, 2025

FRIdaysports

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

0811 181 3083 SMS ONLY

Atalanta Ready to Accept €40m Bid for Ademola Lookman Duro Ikhazuagbe

Ademola Lookman’s future at Atalanta will be over on Sunday when La Dea hosts strugglers Parma in the last game of the Italian Serie A 2024/25 season,

TRANSFER NEWS

The African Player of the Year was largely instrumental for Atalanta winning the Europa League trophy last season and has scored

Eagles’ Legends Commend Chelle’s Balanced Squad for Showdown in London As Nigeria prepares for the highly anticipated Unity Cup Tournament in London, two Super Eagles greats—Garba Lawal and Mutiu Adepoju—have thrown their weight behind current head coach Eric Chelle for his commendable decision to blend homegrown talents from the Nigeria Premier Football League (NPFL) with established foreign professionals.

Their endorsement comes as Chelle names a 25-man squad to face Ghana in the semi-finals of the Unity Cup on May 28. The tournament finale is billed for May 31 at the Gtech Community Stadium in West London.

Chelle’s approach evokes memories of legendary Nigerian coaches such as Clemens Westerhof, Stephen Keshi, and Bonfrere Jo, who famously integrated domestic league players into the national team fabric.

That tradition, which played a crucial role in Nigeria’s golden football era of the 1990s, appears to be receiving a modern-day revival.

In an interview with reporters, Mutiu Adepoju—fondly remembered as “The Headmaster” for his aerial prowess—noted that Chelle’s inclusion of nine NPFL players is not only strategic but

UNITY CUP inspirational for local talents.

“Yes, I think it’s a good one, a good development,” Adepoju said. “Counting the number of home-based players, I could see nine—this is great for the NPFL. It’s a way of encouraging our domestic league and showing belief in the talent available at home.”

When asked whether Chelle is intentionally following in the footsteps of former coaches like Westerhof and Keshi, Adepoju affirmed: “Yes, I think it’s always good.

Chelle did something similar while he was coaching in Mali.

It’s best to ensure the local league is encouraged—it’s very important.

Adepoju also expressed optimism about Nigeria’s chances at the tournament: “Why not? They are going there to compete. If they put everything they have into it, I believe they can win.”

Similarly, Garba Lawal—a versatile midfielder from Nigeria’s golden generation—hailed the squad list as a refreshing nod to player development.

Junior Champion, Edo’s Osaretin, Beats Olympian Ukpeseraye to 200m Gold GAT E WAY GA M E S Edo State’s cyclist, Osaretin Godwin, yesterday beat Nigeria’s first cycling Olympian, Ese Ukpeseraye 2-0 in the final of the 200m sprint for women at the ongoing 22nd National Sports Festival tagged 2024 Gateway Games in Abeokuta.

In a best of two races to determine the 200m champion, Osaretin beat Ukpeseraye twice to deny her the defence of the 200m gold she has won consecutively at the 2020 National Sports Festival held in Edo and the 2022 edition hosted

by Delta State which Ukpeseraye represented that year.

The Cycling venue near Kobape along the Sagamu- Abeokuta expressway was thrown into jubilation

by Edo athletes and athletes from other states, especially Delta which Ukpeseraye dumped for Rivers State as they celebrated the defeat of the reigning champion who has dominated the sport for some time now.

Ukpeseraye has raised her hands up in celebration thinking she crossed the finish line before Osaretin but a video photo-finish showed Osaretin’s bicycle crossed the line by some seconds before hers.

Delta coach, Moses Omozusi who discovered Ukpeseraye in Ethiope-East local government area of Delta State and nurtured her to stardom was happy for the

20 goals and provided seven assists in 39 games across all competitions this season Now, Atalanta are trying to cash out now that Lookman is still hot and pursued by some of Top European teams.

Reports from Italian news medium hinted yesterday that Atalanta are aiming to pocket almost €100m from the sale of Lookman and Brazilian Ederson.

The famous pink paper, Gazzetta dello Sportclaimed that Atalanta are ready to listen to offers for the pair in the summer.

Both Lookman and Ederson moved to Atalanta in 2022. The club is now reportedly willing to sell the Nigerian striker for more than €40m and the Brazilian midfielder

for at least €50m.

Lookman has not enjoyed his game since the public spat with Coach Gian Piero Gasperini despite spirited efforts by Atalanta management to solve the problem in-house last February.

It is understood that Atalanta are yet to receive a major bid for Lookman.

Ederson’s situation on the other hand is slightly different.

The Brazilian has reportedly attracted interest from Juventus, Atletico Madrid, Liverpool, and Manchester United.

According to Gazzetta, Ederson currently has more offers and chances to leave Atalanta than Lookman.

Both players are expected to start in the last game of the season against Parma at the Gewiss Stadium on Sunday.

Ademola Lookman...waiting for right suitors as he plays his last game for Atalanta on Sunday

Luka Modric...Set to leave Real Madrid after an illustrious club career that saw him lift the Champions League trophy six times

Modric to Leave Real Madrid after Club World Cup Campaign Real Madrid captain Luka Modric has revealed he will leave the Spanish giants after the end of their Fifa Club World Cup campaign this summer.

The 39-year-old Croatia midfielder, the 2018 Ballon d’Or winner, will play his last match at Real’s Bernabeu home when they welcome Real Sociedad on Saturday in their final La Liga game of the season.

“The moment has arrived. The moment I never wanted to come, but that’s football, and in life everything

has a beginning and an end,” Modric said on Instagram.

He has won 28 trophies, including six Champions Leagues and four domestic titles, since joining Real from Spurs in 2012.

“I arrived in 2012 with the hope of wearing the jersey of the best team in the world and the ambition to do great things, but I couldn’t have imagined what came next,” he said.

“Playing for Real Madrid changed my life as a footballer and as a

person.

“I’m proud to have been part of one of the most successful eras of the best club in history.”

Real will open their Club World Cup campaign against Saudi Arabia’s Al-Hilal on 18 June and will also face Mexico’s Pachuca and RB Salzburg of Austria in the group stage.

Modric bagged two goals and six assists in 34 appearances in the Spanish top flight this season as Real were pipped to the title by

Barcelona.

He also featured in every game as Carlo Ancelotti’s side reached the quarter-finals of the Champions League, where they were beaten 5-1 on aggregate by Arsenal.

Modric signed a one-year contract extension last year, which expires at the end of this campaign.

Saturday’s game will also be Ancelotti’s last in charge of Real, with Bayer Leverkusen boss Xabi Alonsoreportedly set to succeed the Italian.

Osaretin Godwin...defeated Olympian Ese Ukpeseraye 2-0 to win the 200m cycling sprint gold at the ongoing National Sports Festival in Ogun State

Eunisell to Host Abia Warriors In Lagos After Impressive NPFL Season

rise of a junior champion who is now challenging the elite athletes for medals as he gifted her wads of Naira notes for her feat.

“I am very happy that at last I have achieved my desire to win a gold medal at the National Sports Festival meant for elite athletes and I give glory to God”, she said.

Ukpeseraye settled for the silver while the bronze went to Mary Samuel of Delta State.

In the men’s 200m sprint, Kwara won the gold, Delta took Silver while Edo settled for the bronze.

Leading specialty chemicals company and proud sponsor of Abia Warriors FC, Eunisell Limited, will host the team to a special dinner on Monday, May 26, 2025, at the prestigious Lagos Continental Hotel, Victoria Island, Lagos.

This exclusive event is being organized to celebrate Abia Warriors’ impressive performance during the 2024/2025 Nigerian Professional Football League (NPFL) season, in which the club is currently ranked third on the league table, with one game left to play on Sunday, May 25.

With a strong and consistent

showing throughout the season, the team is expected to finish in third place— its best performances since becoming a top flight Nigerian team.

Eunisell’s gesture highlights the company’s continued commitment to the growth and development of Nigerian football, as well as its long-standing partnership with Abia Warriors FC. As the longest serving corporate sponsors in the NPFL, Eunisell remains focused on inspiring excellence on and off the pitch.

Chika Ikenga, Group Managing Director of Eunisell Limited, com-

mended the players and technical crew for their hard work, dedication, and resilience throughout the season.

“Abia Warriors have shown heart, discipline, and ambition throughout this campaign.

“Their current position in the league is a testament to their growth and competitive spirit.

“As sponsors, we are proud of their achievements and look forward to celebrating their journey and future success. This dinner is our way of saying ‘well done’ for a remarkable season,” Ikenga said.

The dinner will bring together

club players, coaching staff, management, and executives from Eunisell in a relaxed setting to reflect on the highlights of the season and reinforce the bond between the club and its corporate sponsor.

Eunisell’s sponsorship of Abia Warriors FC forms part of the company’s broader efforts to support youth development and sports excellence in Nigeria.

The partnership continues to play a vital role in strengthening the visibility and professionalism of football in the Nigerian league system.

T H I S D AY • FRIDAY, MAY 23, 2025

Price: N400

back page lead photograph

INAUGURATION OF THE BOARD OF NNPCL...

L-R : Group Chief Executive Officer (GCEO) of NNPC Limited, Mr. Bashir Bayo Ojulari; Chairman of NNPC Board, Ahmadu Musa Kida; President Bola Ahmed Tinubu; Chief of Staff to the President, Femi Gbajabiamila; Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; Minister of Finance and Coordinating Minister of the Economy, Olawale Edun, and Minister of Information and National Orientation, Mohammed Idris, PHOTO: GODWIN OMOIGUI. during the inauguration of NNPCL board at the Presidential Villa Abuja...yesterday

ChidiOdinkalu guest columnist

Nigeria: The Making of a Judicial Selectorate

A

nambra North senatorial constituency comprises seven Local Government Areas (LGAs). These are: Anambra East, Anambra West, Anyamelum, Ogbaru, Onitsha North, Onitsha South, and Oyi. The contest to represent it in the election to the Senate in 2007 turned out to be memorable for all the wrong reasons. Voting in the election occurred on 28 April 2007. At the end of the contest, the Independent National Electoral Commission (INEC), returned Joy Emordi, the incumbent senator and candidate of the ruling Peoples’ Democratic Party (PDP), as the winner.

In the race for the party ticket which preceded the election, Senator Emordi beat out the challenge of a little-known member of the House of Representatives, Ubanese Alphonsus Igbeke.

Having lost the contest for the party ticket, Ubanese promptly defected to the opposition All Nigeria Peoples Party (ANPP), which granted him the ticket to fly its flag in the contest for the election to the senate in Anambra North.

Following the announcement of the election results by the INEC, five of the losing candidates headed to the election petition tribunal to challenge the announcement of Senator Emordi as the winner. They included Jessie Balonwu of the Labour Party, and Ubanese of the ANPP. An essential complaint was that there was no lawful voting in Anyamelum and Onitsha South LGAs. If their complaint were upheld, the logic would have necessitated a re-run.

Over one year after the conclusion of the election, on 14 June 2008, the tribunal dismissed the petitions and affirmed Joy Emordi as duly elected. The losing candidates appealed.

Jessie Balonwu’s appeal was the first to be decided. On 10 February 2009, a Court of Appeal panel comprising three Justices of Appeal - Victor Omage, Ladan Tsamiya and Olukayode Ariwoola - found no evidence to support the claim that there were no elections in the two LGAs. The Court of Appeal, therefore, affirmed the decision of the Election Petition tribunal. At the time, appeals concerning elections to the Senate ended in the Court of Appeal.

Like the other losing candidates, Ubanese lost his case at the election petition tribunal.

Like them, he also appealed. Nearly three years after the election, on 24 March 2010,

Chief Justice of Nigeria, Kudirat Kekere-Ekun

another panel of the Court of Appeal, this time comprising Amiru Sanusi (who was not on the earlier panel) as well as Ladam Tsamiya and Olukayode Ariwoola – both of whom had decided Jessie Balonwu’s case nearly a year earlier – nullified the election of Joy Emordi, declared Ubanese the winner of the election and ordered INEC to issue a certificate in his favour affirming his victory.

Six years after that judgment, the National Judicial Council (NJC), sacked Ladan Tsamiya as a judge in connection with judicial corruption in another election case from neighbouring Abia State.

Returning to the Anambra North senatorial contest from 2007, Senator Emordi applied to the Supreme Court for a review of the two ostensibly conflicting decisions of the Court of Appeal, but the court struck out her case, holding that it did not have jurisdiction to hear her. With one year left to run on the tenure and armed with the judgment of the Court of Appeal, Ubanese ousted Joy Emordi from the Senate in May 2010 to become the Senator for Anambra North. Once there, he promptly defected back to the ruling PDP from the ranks of the ANPP. That was not the first time Ubanese would be returned as legislator by the votes of judges instead of registered voters. His first tour of duty

as a legislator in the House of Representatives in 2003 was also made possible by highly priced judicial votes.

He was not the only one to be selected in this manner in 2003. In the contest for the Anambra South seat for the Senate, the Court of Appeal in Enugu manufactured a victory for Ugochukwu Uba, who was not a candidate in the election, after two of the three Justices of Appeal collected humongous bribes to rule in his favour against the candidate who was actually elected. Ugochukwu Uba’s younger brother, Andy, was a very influential presidential confidante at that time.

2010 was not the last time that Ubanese’s entire electorate would comprise exclusively of members of the Nigerian judiciary. ThisDay newspaper famously described him as “the serial senator who never wins an election.”

In 2011, another high court in Abuja also issued an order requiring the INEC to return Ubanese yet again as Senator for Anambra North after the election had been concluded and a winner declared. The order was stupefying because only an election petition tribunal could issue it.

This time, the Attorney-General of the Federation had Ubanese arraigned before the Federal High Court in Abuja on charges of forging and altering the outcome of the party primaries that he lost, misrepresenting to the High Court in Abuja that he had, in fact, emerged as the winner.

Ubanese was ultimately unsuccessful in returning to the Senate in 2011 but had pioneered an electoral business model that would prove both lucrative for all involved and resilient beyond his wildest imagining.

Ubanese showed judges how a joint enterprise with politicians could prove effective in making both sides influential, wealthy and powerful while at the same time sidelining the voters from the constitutive enterprise of deciding who controls their destinies. This guarantees that elections no longer end in the polling units.

Instead, what we call elections only pare down the candidates who are required thereafter to proceed to court units, where the ultimate selection is determined by judges who alone have the right to vote. The cost of entry into this stage is prohibitive. Only the truly moneyed dare to show up.

The constitution may have anointed the people as the electorate, but in Nigeria, the winners and losers in elections are now decided by a judicial selectorate which does not feel itself beholden to anything that the constitutional electorate may wish, seek, or say.

According to a former national vice-chairman of the ruling All Progressives Congress (APC), Salihu Lukman, “citizens can vote, but winners are decided in the courtroom by conclaves of judges.” Former President Goodluck Jonathan acknowledged in Asaba, capital of Delta State, in June 2024 that Nigerian judges increasingly “declare who doesn’t win the election that they are winners.”

Selectorate Theory explains how elites access and retain power. It distinguishes between three categories of actors for this purpose.

‘Interchangeables,’ notionally, have a role but hardly fit the part. Influentials sometimes may do so. However, the focus is on a small category of the “Essentials” who decide nearly everything.

The clever power seeker focuses on striking a deal with the Essentials at the expense of the Influentials and the ‘Interchangeables.’

In Nigeria, the judges have made themselves indispensable ‘Essentials’ in winning power and retaining it. The people have become very expendable ‘Interchangeables’. The national exchequer, meant for the people, now goes to financing the fancies of these electoral Essentials in order to protect the joint enterprise with the politicians. This is all done under the ruse of law, which, it is claimed, is indispensable to democracy.

The “ownership” of judicial figures has thus become an essential political accessory in Nigeria. Every ambitious politician knows that s/he needs to own some judges or at least one. This political business model is a deeply Nigerian variant of the Selectorate Theory, which is now taking root across Africa. For this export, we must thank Ubanese Igbeke and the Uba brothers of Uga in Anambra State.

This week, Narrative Landscape publishers will be releasing The Selectorate, my book about how Nigerian judges toppled (and are still toppling) the people. It is a story that has been long in the making.

•A lawyer and a teacher, Odinkalu can be reached at chidi.odinkalu@tufts.edu

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