WEDNESDAY 16TH JUNE 2021

Buhari Rallies West African States to Battle Insecurity Army chief says synergy now better among service chiefs Deji Elumoye and Udora Orizu in Abuja President Muhammadu Buhari yesterday called for unity among West African States and those in the

Sahel to deal with security challenges in their respective nations.

Also, the Chief of Army Staff (COAS) Maj. Gen. Farouk Yahaya, has said service chiefs now work

in synergy, debunking insinuation that they failed in curbing the worsening insecurity in the country due to inter-agency rivalry.

Buhari, while receiving the new Special Representative of

the United Nations SecretaryGeneral for West Africa and the Sahel, Mahamat Annadif, at the State House, Abuja, said the security challenges were enormous and, there, required concerted efforts to

tackle them.

The president, in a statement by his Special Adviser on Media and Publicity, Mr. Femi Adesina, said: “You are our neighbour.

You have vast experience

on matters affecting the Sahel, having served for five years in Mali. I hope you will get the countries to work together to confront Continued on page 10

President Seeks Quick Completion of NLNG’s $10bn Train 7 Project...Page 6 Wednesday 16 June, 2021 Vol 26. No 9564. Price: N250

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CBN Seeks to Slash Importation by 35% James Emejo in Abuja

TRAIN SEVEN ON THE MOVE...

L-R: Group Managing Director, Nigerian National Petroleum Corporation, Malam Mele Kyari; Chairman, Nigeria Liquefied Natural Gas, Dr. Edmund Dakouru; Mrs. Oma Attah; NLNG Managing Director, Mr. Tony Attah; Minister of State for Petroleum Resources, Mr. Timipreye Sylva: Rivers State Deputy Governor, Mrs. Ipalibo Harry-Banigo; the Amanyanabo of the Grand Bonny Kingdom, King Edward Asimini William Dappa Pepple III, Perekule XI; NLNG General Manager, External Relations & Sustainable Development, Ms. Eyono Fatayi-Williams; and NLNG Deputy Managing Director, Mr. Sadeeq Mai-Bornu, at the groundbreaking ceremony of NLNG’s Train 7 in Bonny, Rivers State…yesterday

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday said efforts are ongoing to reduce the country's import bill by about 35 per cent.

He said President Muhammadu Buhari's insistence about five years ago on the diversification of the country's economic base had already started to yield positive results.

The CBN governor, while Continued on page 8

W’Bank: Rising Prices Pushed Seven Million Nigerians Below Poverty Line Says reforms needed to reduce inflation, accelerate recovery Blames lack of economic opportunities for insecurity, criminality in Nigeria Moderation in food prices slows inflation to 17.93% Obinna Chima in Lagos and James Emejo in Abuja The World Bank has stated that inflationary pressure in Nigeria has pushed about

seven million Nigerians below the poverty line in 2020 alone.

The World Bank gave the data in its latest Nigeria Development Update (NDU), released yesterday, a few days

after President Muhammadu Buhari in his Democracy Day broadcast claimed on Saturday that his administration had lifted 10.5 million Nigerians out of poverty in the past

two years.

The bank’s Country Director for Nigeria, Mr. Shubham Chaudhuri, while speaking on ‘The Arise Xchange,’ a programme of ARISE NEWS

Channel, the broadcast arm of THISDAY Newspapers, also said lack of economic opportunities was contributing to the rising crime cases and insecurity in Nigeria.

The multilateral institution also reiterated the need for the federal government to set policy foundations for a Continued on page 8

FG: Twitter, Founder Vicariously Liable for #EndSARS Losses...Page 5

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Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

FG: Twitter, Founder Vicariously Liable for #EndSARS Losses US restates condemnation of suspension

Olawale Ajimotokan in Abuja The federal government has stated that Twitter and its founder, Mr. Jack Dorsey, are vicariously liable for the losses the country suffered during the #EndSARS protest.

The Minister of Information and Culture, Alhaji Lai Mohammed, said yesterday when he featured on “Politics Nationwide,’’ a Radio Nigeria call-in programme, that the microblogging platform and Dorsey were liable for supporting the #EndSARS protests through fundraising and giving visibility to the campaign.

He also confirmed on the programme, monitored by the News Agency of Nigeria (NAN), that Twitter has formally written to Nigeria seeking dialogue on issues leading to the indefinite suspension of its operations in the country.

However, the United States has renewed its condemnation of Nigeria for suspending Twitter's operations in the country, move senior U.S. officials said is a sign of restricting political space in Nigeria.

Mohammed accused Dorsey of raising funds through Bitcoins to sponsor the #EndSARS protest while Twitter was used to fuel the crisis.

He said when he made the allegations earlier, Nigerians did not take him seriously.

The minister said an independent investigation by an online medium confirmed that Dorsey retweeted some of the posts by some of the coalition groups supporting the #EndSARS protest.

He said it was also confirmed that the Twitter founder asked people to donate to the organisers of the protests via Bitcoins.

The minister said Dorsey launched Emoji to make the EndSARS protest visible on the microblogging site and retweeted the tweets of some foreign and local supporters of EndSARS. He added: “If you ask people to donate money via Bitcoins for EndSARS protesters, then you are vicariously liable for whatever is the outcome of the protest.

“We have forgotten that EndSARS led to the loss of lives, including 37 policemen, six soldiers, 57 civilians while property worth billions of naira

were destroyed.

“One hundred and sixty four police vehicles and 134 police stations were razed to the ground, 265 private corporate organisations were looted while 243 public property were looted.

“Eighty-one warehouses were looted while over 200 brand new buses bought by Lagos State Government were burnt to ashes,’’ he added.

The minister said it was unfair to conclude that the operation of Twitter was suspended indefinitely because it deleted President Muhammadu Buhari’s tweet perceived to be threatening violence against people in the South-east.

He restated that the federal government suspended Twitter because the platform was being used to promote the views of those who wanted to destabilise the country.

Mohammed added that Twitter consistently offered its platform to promote agendas that were inimical to the corporate existence of Nigeria.

“Twitter has become a platform of choice for a particular separatist promoter.

“The promoter consistently used the platform to direct his loyalists to kill Nigerian soldiers and policemen, run-down INEC offices and destroy all symbols of Nigeria’s sovereignty.

“Every attempt to persuade Twitter to deny its platform to this separatist leader was not taken seriously,’’ he stated.

According to him, the federal government has no apology to offer to those unhappy over the suspension of Twitter’s operations in the country.

He said a country must exist in peace before people could exercise freedom of speech and fight for a source of livelihood.

The minister also confirmed that Twitter has written to seek dialogue on issues leading to the indefinite suspension of its operations.

“I can confirm that Twitter has written to the federal government that they are ready to talk.

“As we have always maintained, the door is not locked and we are open-minded but Twitter must work toward it,” he said.

The minister reiterated the government’s position that it

would not tolerate any platform that would be used to destabilise the country.

Mohammed said among other conditions for Twitter to resume operation in Nigeria, there must be an agreement as to what contents it could post.

He said Twitter and other platforms must also register as a Nigerian company, obtain a licence from the National Broadcasting Commission(NBC) and be guided by the rules of the licensing as well as pay taxes.

According to him, regulation of social media platforms is becoming a global practice.

He said most countries were just waking up to the fact that the platforms were becoming more powerful than even government and needed to be regulated.

“Singapore, Algeria, Pakistan, Turkey regulate social media, Australia has done so. ”Even EU that does not have particular laws on social media has made recommendations in a white paper,” he added.

The minister said the UK initiated a new law, which would make social media companies to be fined up to £18 million (about N10.8 billion) if they failed to

stamp out online abuses.

He said Google was fined € (about N110 billion) on June 7

by French Competition Regulator for abusing its dominance in the online advertising market in France.

Also, Pakistan has approved a new set of rules to regulate social media.

In the rules, according to the minister, companies such as Facebook, Twitter, YouTube and even TikTok are to register and open offices in Pakistan.

He said in compliance with the new online broadcasting rule of Turkey, Netflix and Amazon Prime Video had obtained licences from that country’s broadcasting authority.

Mohammed stated that regulation of social media was not synonymous with stifling press freedom.

“We must not confuse press freedom with irresponsibility.

“How can you stay in your country and allow your own platform to be used to propagate war in another country?

“The suspension of Twitter is to ensure that no particular platform is used to cause war in Nigeria.

“Secondly, to ensure that whoever is making money in Nigeria must be made to pay tax.

“Our appeal to Nigerians is that they should understand where we are coming from.

“We have no intention to stifle people’s freedom or to cut off the source of livelihood of anybody.

“There must be a country devoid of war before we can talk of freedom and a source of living,’’ he said.

The federal government had on June 4 suspended indefinitely the operations of the microblogging and social networking service in Nigeria.

US Restates Condemnation of Twitter's Suspension Meanwhile, the United States has renewed its condemnation of Nigeria for suspending Twitter's operations in the country, a move that senior U.S. officials said is a sign of restricting political space in Nigeria.

A report on the website of Voice of America (VOA) yesterday quoted Deputy Assistant Secretary of State for

African Affairs, Akunna Cook, as saying during a Monday webinar hosted by the Washington-based Atlantic Council that “the Twitter suspension was very concerning and remains a source of concern.”

Cook, a daughter of Nigerian immigrants, said the country can “play a constructive role” in West Africa but “signs of closing of political space” and signs of restricting free speech are worrisome.

The Nigerian government’s Cook also called China a “strategic competitor” on the continent, while urging Beijing to have “greater transparency” when giving loans to African countries.

“Transparency limits corruption.

China has become a large lender to African countries and many large borrowers from China are struggling, struggling with debt sustainability," Cook said.

The State Department’s top official on African affairs also said there will be “more robust engagements” between the U.S. and Africa under President Joe Biden’s administration but stopped short of elaborating whether there will be a U.S.-Africa summit in 2022, the same year as a planned Russia-Africa summit.

OONI AT COAL CITY...

Enugu State Governor, Hon. Ifeanyi Ugwuanyi (left), and Ooni of Ife, Oba Adeyeye Ogunwusi, during the monarch’s visit to the governor in Enugu…yesterday

FG to Receive 3.92m Doses of AstraZeneca Vaccine by July Onyebuchi Ezigbo in Abuja Nigeria is gearing up for the resumption of vaccination of people for COVID-19 as it expects another shipment of 3.92 million AstraZeneca vaccine to arrive in the country between July and August.

The Executive Director of the National Primary Healthcare Development Agency (NPHCDA), Dr. Faisal Shuaib, said yesterday during a media briefing in Abuja that the federal government had resumed vaccination of the first dose in anticipation of the receipt of the next batch of AstraZeneca vaccine.

"We now have information that Nigeria will get 3.92 million doses of Oxford/AstraZeneca

by end of July or early August.

As we receive additional information on the exact dates in August, we will provide an update regarding timelines and details of this," he stated.

While working with international partners to confirm the next shipment of vaccines to Nigeria, Shuaib said that the federal government had commenced administering the first dose of the vaccine, which was earlier halted due to shortages.

On the assessment of the impact of AstraZeneca vaccine so far, Shuaib said recent research from Public Health England (PHE) showed that the Indian (Delta) variant B.1.617.2 is 92 per cent susceptible to Oxford/ AstraZeneca.

According to him, it is comforting to note that the vaccine used in Nigeria can protect against this variant that caused high morbidity and mortality in India.

"However, it underscores the need for us to ramp up our vaccination to more Nigerians.

“As you all are aware, hesitancy towards the second dose is very tied to the continued misinformation and disinformation about COVID-19 and the vaccination programme globally and locally," he said.

He urged the media not to relent in bringing to bear on COVID-19, “the sheer patriotism and professional prowess you demonstrated in our collective and successful fight against polio in Nigeria.”

Shuaib added that the goal of government is to educate, combat misinformation and engender confidence in the safety and effectiveness of vaccines, and to ensure all Nigerians have clear information on how, where, and when to get the vaccine.

While commenting on the outcome of the recent meeting of the G7 meeting, Shuaib said the leaders of major, rich countries were becoming increasingly aligned with the thinking that the inequities cannot continue.

"Not only because it is a moral failure, but because it is strategically unwise for their own efforts to end the COVID-19 pandemic. On the final day of the summit, leaders committed to delivering at least

one billion coronavirus vaccine doses to the world over the next year. While this will not close the enormous gap that exists today, it is a positive step and we welcome the new focus.

"Additionally, President Biden announced on the eve of the summit that the US will purchase 500 million doses of the Pfizer-BioNTech vaccine and donate them to low- and middleincome countries through the next year.

"This pledge is by far the largest yet by one country.

These doses will be distributed via Covax. We welcome this announcement and encourage other nations with the means to follow the US’ example so that we, as a global community, can move forward from COVID-19

swiftly," he said.

Shuaib also stated that Mastercard Foundation has pledged to donate $1.3 billion for vaccines in Africa over the next three years in partnership with the Africa Centers for Disease Control and Prevention.

World Health Organisation (WHO) Country Representative, Dr. Water Mulombo, said that COVAX planned to announce another round of dose allocations where Nigeria may receive more doses.

He said WHO position on the AstraZeneca vaccine remained the same: that the benefits of vaccination were far greater than the risk of the rare side effect.

"The vaccine remains a valuable tool in the fight against severe COVID-19," he said.

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President Seeks Quick Completion of NLNG’s $10bn Train 7 Project NNPC ready for trains eight to 12, says Kyari Deji Elumoye, Emmanuel Addeh in Abuja and Peter Uzoho in Lagos President Muhammadu Buhari has asked stakeholders in the Nigerian LNG’s $10 billion Train 7 to collaborate towards ensuring the timely completion of the project.

The president said yesterday at the virtual groundbreaking ceremony of the project in Bonny Island, Rivers State, that the speedy and safe delivery of Train 7 would encourage the timely take-off of the Train 8 project.

Train 7 is expected to add eight million tonnes of gas supply to the existing 22 million tonnes and rev up production by about 35 per cent.

The project is expected to attract $10 billion in Foreign Direct Investments (FID), yield $20 billion to the federation, and create 10,000 direct jobs and 40,000 indirect jobs, while 55 per cent of the engineering work is to be carried out in Nigeria.

In addition, 55 per cent of all procurements for the execution of the project will be done by Nigerian vendors, 100 per cent of all installations and construction will happen incountry, while the contractors for the project are SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo.

The facility is owned and operated by NLNG, a joint venture between Nigerian National Petroleum Corporation (NNPC), which owns 49 per cent, Shell Gas, with 25.6 per cent ownership, Total, which has a 15 per cent stake and Eni with 10.4 per cent equity.

Also at the ceremony, the Group Managing Director, NNPC, Mallam Mele Kyari, stated that Nigeria is currently not too far from train eight to 12, as the next train would be higher and better than the current one.

Buhari said the NLNG had generated over $114 billion as revenue over the years.

He called on the board of directors, management and staff of NLNG, the host communities, the Rivers State Government and other agencies of government to continue

INCREASING INFRASTRUCTURE SPACE...

L-R: Onisabe of Igbobi-Sabe, Oba Owolabi Adeniyi; Lagos State Deputy Governor, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu; Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA), Ms. Abimbola Akinajo; Commissioner for Transportation, Dr. Frederic Oladeinde and CEO, Quattro Alchemy, Prince Aderoju Ademoroti, during the inauguration of the Yaba Bus Terminal, Yaba…yesterday to collaborate to ensure the completion and eventual inauguration of the Train 7 project "safely and on time."

He said: ''As we flag off the Train 7 project today, I look forward to the development and execution of more gas projects by the International Oil Companies (IOCs) and indigenous operators, and more trains from Nigeria LNG to harness the over 600 trillion cubic feet of proven gas reserves we are endowed with. ''Let me use this opportunity to commend the shareholders of NLNG, the Federal Ministry of Petroleum, NNPC and the NCDMB and other stakeholders for very exemplary collaboration, which has culminated in this great opportunity for Train 7. ''I want to thank the foreign investors for the confidence reposed in Nigeria, and assure all Nigerians and potential investors in the oil and gas sector that the federal government will continue to create the enabling environment in order to develop the sector and bring the full benefits of gas closer

to our people."

The president recalled that the story of Nigeria LNG was one he had been ''passionately associated with during the formative years of the project.''

He added: ''As Minister of Petroleum Resources, I kicked off our first foray in LNG Business in 1978. At the time, it was already apparent that Nigeria was mainly a gas-rich country with a little oil! ''It therefore gives me great joy to see the organisation transform from just a project in the early 90s to a very successful company with over 20 years of responsible operations and a steady supply of liquefied natural gas, liquefied petroleum gas and natural gas liquids into the global market. This is proof that Nigeria has a great capacity to deliver value to the world by harnessing our natural resources.''

He congratulated NLNG and its shareholders – NNPC, Shell, Total and Eni– for proving that a Nigerian company can operate a world-class business safely, profitably and responsibly.

Praising the consortium for

setting the stage upon which Nigeria’s vast gas resources will continue to grow well into the future, the president added that the focus of his administration is to boost the development of Nigeria’s abundant gas resources, strengthen the gas value chain, develop the much-needed infrastructure and enhance safe operations in the sector as outlined in the National Gas Policy of 2017. ''Through the Decade of Gas initiative, which I recently launched, we will transform Nigeria into a major gas and industrialised nation with gas playing the key role as a revenue earner, fuel for industries and necessary feed for petrochemicals and fertiliser plants," he stated.

He also expressed delight that the NLNG as the pioneer LNG company in Nigeria, has proven the viability of the gas sector over the years, currently contributing about one per cent to Nigeria's GDP. He said: '' The NLNG has generated $114 billion in revenues over the years, paid $9 billion in taxes; $18 billion in dividends to the federal

government and $15 billion in feed gas purchase. ''These are commendable accomplishments by the company’s 100 per cent Nigerian management team. ''With this level of performance, I can only hope that the company continues to grow starting with this Train 7 project but also positioning Nigeria to thrive through the energy transition."

Minister of State for Petroleum Resources, Mr. Timipre Sylva, in his comments, stated that the company has positively complemented crude oil exploration by monetising flared gas and yielding huge revenue to the nation and investors.

Sylva added that since NLNG became operational in 1999, the nation has recorded a drastic reduction in operational flare status from 65 per cent to 12 per cent. ''I boldly say that the ground-breaking of Train 7 is a guarantee to every stakeholder of more dividends in terms of further reduction in gas flaring, more revenue to the nation and shareholders, more

job opportunities, especially at the construction phase and more social investments for the society, '' he said.

Kyari also said confidence in the sector was gradually returning, noting that with the passage of the Petroleum Industry Bill (PIB) in view, more stability and investments will be experienced in the Nigerian oil industry.

“There were uncertainties since 2007 that did not allow us to get to this stage we are today. These prevented this project from going forward.

Some of these challenges, particularly in the upstream gas supply if they were not taken out, we won't be celebrating today.

“This gave our shareholders the assurance of stability of the fiscal environment to invest.

This is history being made,” he said.

Managing Director of NLNG, Mr. Tony Attah, said the project would further the development of local capacity and businesses through the 100 per cent in-country execution of construction works, fabrications and major procurement.

Telcos Kick as FG Mulls Excise Tax on Airtime Emma Okonji

The federal government has unveiled a fresh plan to introduce excise duty on telecoms’ airtime charges.

A report yesterday by Reuters said Nigeria was considering introducing an excise tax on telecoms airtime charges as a way of boosting revenue for the cash-strapped nation.

The report quoted the Director-General of the Budget Office of the Federation, Mr. Ben Akabueze, as unveiling the

plan at a World Bank event where the need for the federal government to raise additional revenues was discussed.

“Last year, we found that 51 countries in Africa have excise on airtime charges, so we are looking at that as well as an area to tax,” he said.

But in a swift reaction, telcos under the aegis of the Association of Licensed Telecoms Operators of Nigeria (ALTON), have kicked against the fresh plan, saying that it will lead to double taxation that has slowed down telecoms

growth in the past.

Reacting to the statement attributed to Akabueze, the Chairman of ALTON, Mr. Gbenga Adebayo, said since the purpose for the planned introduction of excise tax on telecoms airtime charges were not clear to industry players, telecoms operators would rather wait to see how the federal government intends to introduce an excise tax on airtime recharges.

He stated that the proposed tax will amount to double taxation because there is

existing value-added tax (VAT) on all telecoms airtime recharges.

He said: “It is not clear to telecoms operators why the federal government wants to introduce an excise tax on telecoms airtime recharge.

Excise duty is introduced in manufacturing goods and it is introduced when the government wants to reduce the intake of such manufactured product. Except the federal government wants to discourage importation of recharge cards into Nigeria in

order to encourage telecoms operators to use alternative means of vending airtime, like the virtual top-up that does not need a physical recharge card.

“For example, it will be understandable if the federal government decides to introduce an excise tax on consumption of tobacco product because it wants to reduce the consumption of tobacco in Nigeria because of the health implications, but it will be out of place for government to introduce an excise tax on telecoms airtime.”

He added that the telecoms sector remains the only sector that has not increased charges on services and airtime charges since the launch of Global System for Mobile Communication (GSM) and warned that any attempt to introduce an excise tax on telecoms airtime recharge would negatively affect telecoms services offerings across networks.

“Government should be careful not to introduce additional burden on telecoms operators,” Adebayo said.

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PAGE EIGHT W’BANK: RISING PRICES PUSHED SEVEN MILLION NIGERIANS BELOW POVERTY LINE strong recovery as well as to tame inflation.

The report was released on a day the National Bureau of Statistics (NBS) announced that Nigeria’s Consumer Price Index (CPI), which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month.

Besides, the World Bank also attributed the deteriorating security situation in Nigeria and rising criminality to a lack of economic opportunities in the country.

The NDU, titled: “Resilience through Reforms,” stated that in 2020, the Nigerian economy experienced a shallower contraction of 1.8 per cent than had been projected at the beginning of the pandemic (3.2 per cent).

It said: “Although the economy started to grow again, prices are increasing rapidly, severely impacting Nigerian households. As of April 2021, the inflation rate was the highest in four years.

Food prices accounted for over 60 per cent of the total increase in inflation.

Rising prices have pushed an estimated seven million Nigerians below the poverty line in 2020 alone.”

The report acknowledged notable government’s policy reforms aimed at mitigating the impact of the crisis and supporting the recovery, including steps taken towards reducing gasoline subsidies and adjusting electricity tariffs towards more cost-reflective levels, both aimed at expanding the fiscal space for pro-poor spending.

In addition, the report highlighted that both the federal and state governments cut nonessential spending and

redirected resources towards the COVID-19 response.

“At the same time, public-sector transparency has improved, in particular around the operations of the oil and gas sector,” it added.

The report, however, said despite the more favourable external environment, with recovering oil prices and growth in advanced economies, a failure to sustain and deepen reforms would threaten both macroeconomic sustainability and policy credibility, thereby limiting the government’s ability to address gaps in human and physical capital, which is needed to attract private investment.

“Nigeria faces interlinked challenges in relation to inflation, limited job opportunities, and insecurity,” Chaudhuri, said during the virtual presentation of the NDU. ”While the government has made efforts to reduce the effect of these by advancing long-delayed policy reforms, it is clear that these reforms will have to be sustained and deepened for Nigeria to realise its development potential,” he added.

The latest Nigeria Development Update proposed a near-term policy option organised around three priority objectives: reduce inflation by implementing policies that support macroeconomic stability, inclusive growth, and job creation; protect poor households from the impacts of inflation, and facilitate access to financing for small and medium enterprises in key sectors to mitigate the effects of inflation and accelerate the recovery.

“Given the urgency to reduce inflation amidst the pandemic, a policy consensus and expedite

reform implementation on exchange-rate management, monetary policy, trade policy, fiscal policy and social protection would help save lives, protect livelihoods, and ensure a faster and sustained recovery,” World Bank Lead Economist for Nigeria and co-author of the report, Marco Hernandez said.

In addition to assessing Nigeria’s economic situation, the NDU discussed how the COVID-19 crisis has affected employment, how inflation is exacerbating poverty in Nigeria, how reforming the power sector can ignite economic growth and how Nigeria can mobilise revenues in a time of crisis.

Lack of Economic Opportunities Fuelling Insecurity, Criminality in Nigeria, Says W’Bank While speaking on ‘The Arise Xchange,’ a programme of ARISE NEWS Channel, Chaudhuri said lack of economic opportunities was contributing to the rising crime cases and insecurity in Nigeria.

According to him, due to the level of poverty, many people will try to find a way to getting by however they can, and if criminality offers an option, then they will embrace it.

This, he stated, in turn, makes it difficult for businesses to operate and has a multiplier effect on the country’s economic growth potential.

Responding to a question on at what point he thinks the country would begin to lift its citizens out of poverty, he said: “The simple and complicated answer to that question is as soon as Nigeria chooses to. It really is Nigeria’s choice.

The potential is there and the resources can be directed towards that effort.

“Ultimately, it would be the private sector that would create the jobs by investing and it is the government that invests in the people by making sure that every Nigerian child has education and the right healthcare. So, these are the things that lead to sustained poverty reduction. In any way, these are simple things in terms of what needs to be done and what is often complicated is generating the consensus around them and actually implementing it.

“So, we believe Nigeria has the potential to lift 100 million of its citizens out of poverty by 2030 as President Buhari has said. But that decision has to be Nigeria’s choice right now.”

He, however, commended Nigeria’s fiscal and monetary authorities for undertaking “bold reforms in the face of vocal opposition.”

He cited the reforms to include the central bank's recent adoption of the NAFEX rate, which is the rate at the Investors and Exporters’ Window.

“We believe that would help to boost investor's confidence, boost the competitiveness of the economy and if combined with other measures, would add more flexibility on the rate. That I think would set the foundation for a strong economic recovery.

“In collaboration with everything, the fiscal authorities are doing both in terms of mobilising domestic revenue and rationalising expenditure at a time when much-needed resources are needed to combat the pandemic, that coordination would be critical,” he said.

Chaudhuri also stressed the need for establishing a

more systematic coordination mechanism between fiscal and monetary policy managers, as is being done in a range of countries around the world.

He stated that in such coordination, communication would be critical.

“We are in a situation that is unprecedented across the world and it would require support from all members of the society. That is why we believe that communication is essential in anything that the government does,” he added.

In his contribution, World Bank Lead Economist for Nigeria and co-author of the NDU, Marco Hernandez said: “To achieve Nigeria’s potential is not up to one government.”

This, according to the economist, will require sustained action from subsequent governments.

“So, it is important that the citizens take part so that they can monitor progress and make suggestion going forward,” he added.

independence that gives them the power to be able to manage monetary policy in a way that is beneficial to their countries and economy."

Emefiele also said the apex bank was doing everything possible, apart from looking at currency adjustment when necessary, to confront issues of supply management and ensure that economy grows.

He said the CBN had adopted demand management strategies that will help to curtail imports and ensure that some of those goods that can be produced locally are not imported.

Meanwhile, there are strong indications that CBN may seal an agreement with the Central Bank of the Gambia (CBG) to undertake the printing of legal tender for the latter.

This followed a request by the CBG for a possible collaboration as it seeks to address acute currency shortages in the country.

Already, Emefiele, while receiving a delegation, assured that the CBN has extremely competitive advantage to manage the currency printing job for The Gambia.

He said the Nigerian Security Printing and Minting Plc which was established in the early 1960s had been printing currency for the country, adding that the facility has a lot of idle capacity to satisfy the

demand of the CBG. Among other considerations, Saidy had informed the CBN governor that it is currently costly and unsustainable for the Gambia to continue to rely on its printer - De La Rue of London - for its currency needs.

He added that the distance coupled with some logistics and resource constraints had partly led to a current situation whereby the country had witnessed acute shortage of currency with the attendant implications for the economy.

Emefiele, nevertheless, said: "I note your point on currency management. The Nigerian mint was set up in the early 1960s and we've been producing our currency since the early 60s and we have a lot of idle capacity to ensure that instead of you going to Europe or other countries, you will be able to benefit from our ideas."

He said: "Our colleagues will take you to the security printing facility.

Our colleagues that came in from Liberia two months ago were fascinated by the kind of facilities, we have at our Nigerian security printing and minting facility and I am sure that you will also enjoy them.

"And I am sure they will follow you back to the Gambia to see how they can help you to structure your

Moderation in Food Prices Slows Inflation to 17.93% Meanwhile, the CPI, which measures inflation, dropped to 17.93 per cent (yearon-year) in May compared to 18.12 per cent in the preceding month, according to the NBS. The 0.19 per cent decline in the headline index, makes it the second consecutive month that the rate has sustained its downward trajectory after 18 months of inflationary pressures on the economy.

According to the CPI figures for May, food inflation dropped to 22.28 per cent from 22.72 per cent in April.

Price moderation was

recorded in bread, cereals, milk, cheese, eggs, fish, soft drinks, coffee, tea and cocoa, fruits, meat, oils and fats and vegetables.

On a month-on-month basis, the food sub-index declined to 1.05 per cent in May from 0.99 per cent recorded in the preceding month.

On the other hand, core inflation, which excludes the prices of volatile agricultural produce rose to 13.15 per cent from 12.72 per cent in the review period.

On a month-on-month basis, the core sub-index increased by 1.24 per cent, the NBS stated.

The highest increases were recorded in prices of pharmaceutical products, garments, shoes and other footwear, hairdressing salons and personal grooming establishments.

Others are furniture and furnishing, carpet and other floor covering, motor cars, hospital services, fuels and lubricants for personal transport equipment, cleaning, repair and hire of clothing, other services in respect of personal transport equipment, gas, household textile and nondurable household goods.

The NBS said core inflation was highest in Kogi with 25.13 per cent; Bauchi, 23.02 per cent and Sokoto 20.11 per cent.

Katsina, with 15.69 per cent; Imo, 15.52 per cent and Delta, 14.85 per cent recorded the slowest rise in headline year-on-year inflation.

Similarly, food inflation was highest in Kogi 32.82 per cent, Kwara 26.02 per cent and Enugu 25.43 per cent. Akwa Ibom, at 20.06 per cent; Bauchi, 18.65 per cent and Abuja 16.91 per cent recorded the slowest rise in year-on-year inflation.

CBN SEEKS TO SLASH IMPORTATION BY 35% receiving a delegation from the Central Bank of The Gambia (CBG), led by its governor, Mr. Buah Saidy, on a two-day working visit to the country, stated that the country currently has the potential to export and earn foreign currency from the production of urea for local production of fertiliser as well as petroleum product as soon as the Dangote refineries goes into operation by the first quarter of next year.

This, he said would help to reduce importation by about 35 per cent.

He said a country with a population of over 200 million should have food security, pointing out that this was why the CBN was aggressively looking into the area of food and, "where we can use our own available raw materials to produce what we need in our country".

He said: "And we believe with time Nigeria will really be a greater country than it is today. We don't think we are great yet because we have a high import dependence in the country and we are doing everything possible to reduce imports.

"But like you know, when we are able to reduce imports, encourage exports and encourage consumption spending and investment, those are some of the parameters that will ultimately boost our economy

so that we can continue to see rapid growth in our GDP and see prosperity for our people."

He also told the visiting team that the apex bank has vast experiences in IT and cybersecurity, adding that its infrastructure had been proven to be impregnable to hackers.

He said: "There were some protests sometime last year and when the protest was going on we saw that people were trying to hack into systems and they tried to hack into the CBN systems.

"I got a message that the CBN system had been hacked into and I said the CBN system cannot be hacked into.

I called our director in charge of IT and she responded that we have enough firewall that prevented the hack into our system. So those are the kinds of experiences we can share with you though expensive but will share then with you and think of how to work together to collaborate with yours."

However, Saidy, who also said the CBG was having a difficult time regulating the banks in the Gambia especially in the areas of meting out sanctions to erring financial institutions had further sought to know the magic which the CBN had adopted to sanction banks' executives without repercussions.

Responding, however,

Emefiele attributed the successes to the support which the apex bank had enjoyed from the National Assembly.

He said: "On the issue of the CBN independence, I thank you for the kind words. But I think the point is that we thank our own parliament. Our parliament has been extremely supportive of the CBN. "They put in place a central bank Act that grants independence to the CBN and we have our Banks and Other Financial Institutions Act that also grants a lot of power and authority for the CBN to bite when we find people who want to take advantage of the system for their own personal benefit and we don't breed any nonsense about people who try to take advantage of our system for their personal benefits.

"Everything must be done keeping in mind the overall national goals and objectives and that is why the CBN will act very fast on any economic agent that tries to undermine our policies and that's why we are very firm on them."

He said: "Working with your parliamentary I believe you can have laws that can give you the kind of independence that you need in any, practically most of the central banks in the world today have

economic order quantities so we can also be of assistance in printing your currency.

"And I can assure you that we can be extremely competitive if only from the stand point of logistics and freight from Europe but it's just going to be a few hours from here to the Gambia and the rest of them."

The CBG governor had Continued on page 10

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WEDNESDAY JUNE 16, 2021 • T H I S D AY

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MTN Warns of Disruption of Services over Rising Insecurity Emma Okonji with agency report The local unit of MTN Group in South Africa yesterday raised the alarm that its services in Nigeria could be disrupted due to the rising insecurity in the country.

MTN Nigeria became the first company to acknowledge

possible disruption to its services due to insecurity in the country.

Nigeria faces increased insecurity, ranging from banditry, mass abduction of students at schools, kidnappings for ransom, armed conflict between herdsmen and farmers, armed robberies to an insurgency that

has affected development and job creation in Nigeria.

Reuters said it sighted a message written by MTN to customers, which said: "Sadly, we must inform you that with the rising insecurity in different parts of Nigeria, service delivery to your organisation may be impacted in the coming

days. This means that in some cases, our technical support team may not be able to get to your site and achieve optimum turnaround time in fault management as quickly as possible."

Nigeria is MTN's most lucrative market out of the 22 countries the company operates in across Africa,

Asia and the Middle East but it is also one of the most problematic.

MTN runs Nigeria's largest mobile phone network, which generates around a third of the company's revenue.

The World Bank has also said that growth in Nigeria resumed in the fourth quarter after a COVID-19 induced

recession, which left the rest of sub-Saharan Africa with food inflation, heightened insecurity and stalled reforms, slowing the economy and increasing poverty.

When contacted for reaction, MTN Nigeria said it was not aware of the notification by MTN South Africa on possible service disruptions in Nigeria.

Implement National Health Act to Curb Maternal Mortality, Okowa Tells FG Fintiri inaugurates Asaba Specialist Hospital Omon-Julius Onabu in Asaba Delta State Governor, Dr. Ifeanyi Okowa, has urged the federal government to ensure the full implementation of the National Health Act in order to effectively check the high rate of maternal and neonatal mortality.

The governor, at the inauguration of the 220-bed Asaba Specialist Hospital yesterday in Asaba by his Adamawa State counterpart, Hon. Ahmadu Fintiri, also commended President Muhammadu Buhari for operationalising the National Health Act. Okowa stated that the law was not being implemented fully, contrary to the full content and letters of the Act as passed by the National Assembly.

He added that when fully operationalised, half of the

funds would be utilised in providing free treatment to the vulnerable group thereby reducing prevailing high maternal and neonatal mortality figures, which has become an embarrassment to the country.

He said that his administration had, in 2017, operationalised its Contributory Health Commission Law "and realising that most of our women are unable to pay, we decided that we will pay the premium for all pregnant women and children under the age of five years."

"This we have been doing in the last four and half years and we are aware of the impact it has made in society.

"I believe that it is something doable in the entire country because when the National Health Act is fully operationalised,

many children will be able to access free healthcare.

"I call on the federal government to ensure that all fund as contained in the National Health Act is fully released and 50 per cent will go to the vulnerable, which includes the pregnant women and children under five years," Okowa said.

However, the governor stated that part of the Asaba Specialist Hospital was operating under a PublicPrivate-Partnership (PPP) arrangement to endure efficient service delivery.

Okowa said: "Apart from being a big hospital, we are also in partnership with the private sector in parts of the operations of this hospital.

"This will enable us to offer services that the government may not efficiently run directly. That is why the radiology unit of this hospital has been outsourced.

"Today, we have a 125-slide CT-Scan, a digital fluoroscopy X-ray and 4D ultrasound, all functional in this hospital. It also has its own oxygen-generating plant that is functional and reticulated to all the wards in the hospital.

"Beyond the 220 beds, a segment of the hospital was actually given to the 05 Initiative, an initiative of the first lady of the state.

She mobilised private sector funds to equip the centre.

"As of today, it is only one centre in Lagos that can truly boast of the facilities that we have in the sickle cell centre here.

"We have several consultants in different fields and we are still looking for more consultants so that we do not need to transfer any patient out of here on referral."

Inaugurating the hospital, Fintiri, who made a strong

case for constitutional review, commended Okowa for demonstrating great leadership traits, which culminated in numerous projects being inaugurated in the state.

"I have seen a transformed Asaba, which also rekindles my heart for the country and gives me a more compelling reason to pray for more concession of responsibilities and resources to the sub-national units of our federation.

"At this time that our nation is at a crossroad, we need to rethink our federalism. No doubt, we have concerns and agitations, but none is insurmountable if only we can have the right leadership with the courage to tinker the structural federalism to do just a little at devolving more power to the states.

"I am convinced that the

centre is holding on to so many responsibilities that can best be handled by the states. What I am saying, in essence, is that there is a need for constitutional review to devolve more powers and resources to the states.

"When we move the powers, let us also move away from the resources that the federal government controls back to the states, so that we can see real development in place.

"The projects I have seen in Delta, which include this specialist hospital being inaugurated today, are clear testimony that with more devolution of responsibilities and resources to states so much can be done.

"Concerns can be addressed, nerves can be calmed and a great country that works for everyone will be possible and the economy will strive better," he stated.

assured me that you have top of the line security features.

"So this is another area I would want us to exchange ideas and have discussions on how possibly if we decide to go with you we can collaborate with your assistance to be printing our currency."

He said: "Again, it is closer, De La Rue is in London but they do the printing in Malta

and also Sri Lanka. The last one was done in Sri Lanka.

"Lifting those things all the way to the Gambia is costly because we had to do some emergency order and that cost was going to be on CBG but with negotiations and assuming then that we will give them this contract of three years of printing our currency, they now paid for the flight - about £70,000 to

lift those currencies to the Gambia."

He also said the CBG was in the country to benefit from the CBN's vast experiences on how it had successfully regulated the financial system and sought assistance in the areas of information technology, modernisation, cybersecurity, forex shipping and management, among others.

is a member of 34 regular course; we met him there.

So, at one time or the other, all of us were members of that academy together. The chief of naval staff and I were one time members of battalion. So, the synergy cannot be anything better now that we're brought up together; we have trained together.''

Speaking on his plans to curb the worsening insecurity, the COAS said he would use his experience in the field over the years to make Nigeria safer.

He added: ''I joined the military 36 years ago, so, I brought along with me 36 years of military experience.

I’m abreast with the security requirements. I was involved in several security operations. The challenges we are facing now, all are characterised by these areas I mentioned, where I have first-hand information and

have commanded troops and I administered them in achieving what we’ve done.

"I believe I have the requisite requirements by the grace of God to now provide my services in this office of the Chief of Army Staff, if confirmed. What I brought is a wealth of experience and commitment. So I’m committed and determined to provide my best and also having known what’s required to achieve results."

He also appealed to all citizens for their support, adding that with the support of the people, Nigeria will win the fight against insecurity.

Earlier, the Chairman, House Committee on Defence, Hon. Babajimi Benson, had said the insecurity bedeviling the country had cost it a lot both financially and in terms of human lives.

He tasked the COAS to bring to strive to end it.

Benson said: 'This exercise comes at a very challenging time in the history of our dear country, Nigeria. Our nation has been besieged by several security issues across all the geopolitical zones with banditry, militancy and self-secessionists stretching our military to the extreme. The worst is the lingering insurgency in the North-east. This war has cost the country a lot both financially and in terms of human lives. This must stop.

The Armed Forces of Nigeria needs to adopt innovative measures to curb the killings and wanton destruction of property as a result of these cases of insecurity.

"I, therefore, hope that, if confirmed, the new chief of army staff will do everything possible, working with other service chiefs, to bring this to an end."

CBN SEEKS TO SLASH IMPORTATION BY 35% further explained that it costs the bank about £70,000 to lift printed currencies from Sri Lanka to the Gambia.

He said: "We also need assistance in currency management. Right now we have a situation where we are running very low on currency and at some point I get scared because we cannot at the central bank run out of currency completely as

that will be a disaster.

"So we want to learn from your estimate. We have a model but we have not looked at it yet - given to us by our printers - De La Rue. How they estimate the currency need of the country on yearly basis.

"But I think it has some defects otherwise, the acute shortage we have currently would not have happened."

Saidy said: "We placed an order for three years of currency to be printed but again, the contract with De La Rue since independence they have been printing our currency.

"Yesterday in my interaction with the Deputy Governor, Mr. Kingsley Obiora, we realise that you print your own currency and I asked about security and he

BUHARI RALLIES WEST AFRICAN STATES TO BATTLE INSECURITY the issues affecting them.

“I hope under the auspices of UNOWAS, you will help get the problems sorted out.

Most of them have to do with the instability in Libya, and it affects all of us.”

While describing the security challenges as “enormous,” Buhari added that the Boko Haram insurgency has ravished the lives and resources of Nigerians and inhabitants of some neighbouring countries while large swathes of Mali remain occupied by militants.

He promised Nigeria’s support to Annadif to aid his new assignment.

In his remarks, Annadif said he was visiting shortly after his appointment because he recognised Nigeria’s crucial role in West Africa.

He said the problems of the Sahel region were not new to him, which is why more than ever, he would

depend on the help of Nigeria to succeed.

Synergy Now Better among Service Chiefs, Says COAS Meanwhile, the Chief of Army Staff (COAS), Maj. Gen. Farouk Yahaya, has debunked the insinuation that the service chiefs failed to curb the worsening insecurity in the country due to lack of synergy among them.

Yahaya, who spoke while fielding questions from members of the House of Representatives Committees on Defence and Army at his screening, said there was synergy among the service chiefs.

Buhari had appointed Yahaya to replace former COAS, Lt. Gen. Ibrahim Attahiru, who died in a plane crash in Kaduna.

The president consequently wrote to both chambers of the National Assembly, urging them to confirm Yahaya's appointment.

Addressing the lawmakers, Yahaya said the job of securing the country was not a one man's job, adding that the service chiefs have always operated together, hence the composition of the Army, Navy, Air Force, Police, DSS and Civil Defence.

He said: ''As we know, internal security is intelligence-driven operation.

So we need others, including communities, including traditional rulers and all others who can provide information. We work together. At the army headquarters level here, all the service chiefs now luckily we were all mates in the academy. So there’s not much gap. The CDS (Chief of Defence Staff)

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Buhari Approves Jobs for 2011 Post-election Violence Victims’ Families Adedayo Akinwale in Abuja President Muhammadu Buhari has approved automatic employment in the Federal Civil Service for one graduate from each of the immediate families of the 10 slain National Youth Service Corps (NYSC) members in 2011 in Bauchi State.

He said the President also approved scholarships to the four children of Mr. Adowei Elliot, a Delta State indigene killed during the post-election violence.

Minister of Youth and Sports Development, Mr. Sunday

Dare announced these during inauguration of the National Governing Board of the NYSC yesterday in Abuja.

The 10 corps members were killed in Bauchi State following the 2011 election won by former President Goodluck Jonathan.

In a statement by Director of Press and Public Relations in the Ministry, Mohammed Manga, the minister said: “As a sign of the federal government’s unflinching commitment to the NYSC, President Muhammadu Buhari has approved the automatic employment of 10

direct siblings of the deceased NYSC members, who lost their lives during the 2011 postelection violence in Bauchi State and also approved appropriate scholarships to the four children of Mr.

Adowei Elliot.”

He called on the board members to come up with initiatives that will make the NYSC more impactful and increasingly endearing to all Nigerians.

The minister endorsed the proposal by stakeholders for establishment of a National Youth Service Corps Trust Fund.

He called on all stakeholders to support actualisation of the Fund, saying the initiative will

not only strengthen the NYSC but also serve as a sustaining source of providing start-up capital for the trained corps members to actualise their business plans and in turn employ more Nigerians.

ONSA: $44m Recovered from NIA Not in Our Custody

House queries whereabouts of recovered money Adedayo Akinwale in Abuja The Office of the National Security Adviser (ONSA) yesterday said it has nothing to do with $44 million recovered from the Nigeria Intelligence Agency (NIA) by the Economic and Financial Crime Commission (EFCC) in 2017.

The Director of Finance and Administration in the Office of the National Security Adviser (NSA), Brig. Gen. Ja’afaru Mohammed told the House of Representatives Adhoc committee investigating the management of recovered funds between 2002 and 2020 that the ONSA was not in possession of the recovered funds and assets.

The Chairman of the Ad hoc Committee Hon. Adejoro Adeogun had quoted the Chairman of EFCC as saying that the fund recovered from the NIA office in Ikoyi was in the custody of the Office of the National Security Adviser But Mohammed told the Committee that the NIA money was not with the ONSA and that the office has nothing to do with recovered funds or the management of such.

He stated: “The operation that was carried out at Osborne Towers Ikoyi Lagos was planned and executed by EFCC operatives.

ONSA was neither part of the team that recovered the funds nor was the funds handed over to ONSA at any point of the recovery.

“However, for the avoidance of doubt, there were issues of funds belonging to an intelligence outfit that was taken out of the abode and was later returned to the outfit on the directive of Mr. President.

Evidence of the deposit of the fund is hereby attached.”

Mohammed explained that the only money recovered from the NIA was about $41 million, which was the funds of the NIA which has been returned to the office on the directive of the President.

He added: “The NIA was under investigation and the President directed that the ONSA should take charge of the place. I was sent there to take charge of the funds of the agency. I went there and counted the money in their vault and it was about 41 million dollars.

Lagos Assembly to Investigate Delay in Selecting LASU VC Segun James Following the deadlock over the selection of a new vice chancellor for the state-owned Lagos State University, the state House of Assembly has ordered its Committee on Tertiary Education headed by Hon. Ajani Owolabi to investigate the cause of the delay and report back to the Assembly in a week time.

The matter was raised as Urgent Matter of Public Importance by the Majority Leader of the Assembly, Hon. Sanai Agunbiade, during the plenary yesterday.

According to Agunbiade, “LASU is currently having an acting vice chancellor, as a substantive VC is yet to be selected for the institution.”

The Majority Leader stated that a committee was raised towards the end of the tenure of the last Vice Chancellor of the institution, Professor Olanrewaju Fagbohun, but that the committee was dissolved because one of the three shortlisted candidates did not

have doctorate as he was said to have possessed just a university fellowship.

He said when another committee was raised, they did an advertisement and stated that someone with fellowship of an institution could apply for the office.

The Majority Leader added that nine persons were shortlisted, but that the second process has also been put on hold.

He said: “Now, LASU does not have a VC or Governing Board.

It has dropped from number two in the country to number five university. Something must be done urgently about the selection of a new VC for the university.

“The House Committee on Education should be asked to commence investigation into the issues in LASU and come up with recommendations.

“The Lagos State governor should also see into the issues surrounding the selection of a vice chancellor for the institution.”

WOMEN EMPOWERMENT…

L-R: Emir of Bauchi, Dr. Riliwan Suleiman Adamu; Bauchi State Deputy Governor, Senator Baba Tela; Bauchi State Governor, Senator Bala Mohammed; Managing Director/ CEO, Aliko Dangote Foundation, Ms. Zouera Youssoufou; Group Executive Director, Government and Strategic Relations, Dangote Industries Limited, Mr. Ahmed Mansur; and wife of the state governor, Aisha Mohammed, during the disbursements of the Dangote Micro -Grants Programme forVulnerable Women in Bauchi Local Government Area, Bauchi State…yesterday

Osinbajo Drives Made-in-Nigeria Electric Car Deji Elumoye, Olawale Ajimotokan in Abuja Vice President Yemi Osinbajo yesterday drove a locally assembled electric car, Kona, saying the drive was fantastic while the making of the innovative car is a showcase of what is possible in the country.

This is just as the number two citizen also visited the headquarters of the Federal Road Safety Corps (FRSC) in Abuja

where he inaugurated its traffic radio, 107.FM, and gave traffic reports about roads in Abuja, Lagos, Ogun and Plateau states.

Osinbajo spoke in Abuja shortly after the unveiling of the Made-in-Nigeria fair in Abuja featuring the exhibition of the first electric car assembled in Nigeria, among other locally manufactured products.

Apart from touring the exhibition stands accompanied by top government officials, the

Vice President, in a statement by his spokesman, Laolu Akande, drove the electric car alongside the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo and Director General of the National Automotive Design and Development Council (NADDC), Mr. Jelani Aliyu.

Speaking shortly after the tour of the exhibition stands, and a ride in the electric car, Osinbajo said “it was a very

good drive, fantastic. It just shows what is possible. I am glad to see that this is an assembled-in-Nigeria electric car. You can literally charge it anywhere. I think it is a very fantastic innovation; fantastic product, and I can tell because I just drove it.”

After the exhibition, the Vice President also visited the Federal Road Safety Corps’ headquarters where he inaugurated the National Traffic Radio, 107.1 FM.

After Two Months of JUSUN Strike, Courts Reopen Fully Davidson Iriekpen in Lagos Judicial activities resumed in courts across the country yesterday following the suspension of an eight-week nationwide strike by the Judiciary Staff Union of Nigeria (JUSUN).

JUSUN embarked on the strike on April 6, to press home its demand for judicial autonomy and financial independence, but

called it off on June 9.

The Court of Appeal on Lagos Island led the way in Lagos hearing nine matters, including suits by former President of the Nigerian Bar Association (NBA), Mr. Olisa Agbakoba (SAN) against the Federal Republic of Nigeria; Lagos State Governor against Senior Advocate of Nigeria (SAN), Mr. Ebun-Olu Adegboruwa, and two suits by the Attorney-General of the

Federation against the late Peoples Democratic Party (PDP) chieftain, Mr. Buruji Kashamu.

Activities were low key at the Federal High Court in Ikoyi with only one judge sitting. Other courtrooms were adjusting to the recent transfer of federal judges across the country.

At the Lagos High Court, Tafa Balewa Square (TBS), courtrooms were open and cleaners were seen cleaning the courts, while court

registrars were seen preparing lists of expected cases.

Lawyers were seen filing new cases at the court’s litigation department.

One of them, Mr. Ikechukwu Anima of the D Crest Chambers Lagos Island, who filed a suit for infringement of his client’s rights, expressed delight that courts had resumed, adding that the client almost lost hope of getting justice while the strike lasted.

Two Killed as Gunmen Abduct Two Chinese in Taraba Wole Ayodele in Jalingo Two people including a police officer were on Monday night killed by gunmen who attacked a mining site at Arufu community in Wukari Local Government Area of Taraba State.

Two Chinese who were working on the site, which is being operated

by H&H Mining company were abducted by the gunmen and taken to an unknown destination.

THISDAY gathered that a Mobile policeman and several others sustained varying degrees of injuries in the attack that occurred at about 9.45pm on Monday.

Arufu is a border community between Taraba and Benue states

and the community has been experiencing series of attacks due to mining activity in the area.

When contacted, the Police Public Relations Officer (PPRO) of Taraba State Command, David Misal told THISDAY on phone that he was yet to be furnished with the full details of the incident.

He however promised to get back

to THISDAY as soon as he the details of the incident were made available to him.

All efforts to reach the management oftheminingcompanyprovedabortive as at the time of filing the report.

THISDAY however learnt that the abductors were yet to make demand for ransom for the release of the expatriates.

Kaigama Urges FG to Lift Suspension on Twitter Onyebuchi Ezigbo in Abuja The Catholic Archbishop of the Catholic Archdiocese of Abuja, Most Rev. Ignatius Kaigama has urged the federal government to reconsider the suspension imposed on the micro blogging platform, Twitter, saying that the social outfit offers a lot of benefits for Nigerian youths.

Speaking to journalists in Kaduna yesterday shortly after

the commencement of week-long training workshop for Directors of Communications of the various diocesesoftheCatholicChurchinNigeria, Kaigamasaidthatnoonewouldblame thegovernmentforcautioningordrawing the attention of the affected organisation to any wrongdoing but that what is of concern was the clampdown and outright suspension.

“If someone has a problem with the media, there is a way to address it but because I understand that our

president was banned by Twitter and then the whole nation has to be suspended from Twitter use.

It doesn’t sound very reasonable and I think there is a better and more effective way of addressing this,” he said.

Kaigama said that there was no doubt that the country needed the media, but that “what is important is that they should communicate what is authentic, genuine and what is going to promote values and

national cohesion”.

“This is what I want and not to ban them. I think the people should be encouraged to use the media correctly and the wrong use of it is what should be banned and not the media outfit.”

The Archbishop advised that government and Twitter group should find a way to resolve the dispute so that the people who rely on it for their economic activities are not allowed to suffer unnecessarily.

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COMMENT

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

THE JUNE 12 PROTESTS

Sonnie Ekwowusi writes that the President should listen to the people

W

hat would have been the June 12 Democracy Day celebration last Saturday was marred by the Buhari-must-go protests. By midday last Saturday different anti-Buhari protesters across the country had staged tumultuous nationwide protests tagged #June12protests.

The protesters were demanding that President Buhari should quit power because he has failed to put the country on the path to political, economic, social, cultural progress. Despite the spirited efforts of the Nigerian security forces to intimidate or scare away the protesters, they were undeterred in their resolve to exercise their right to peaceful protest.

This is the first time June 12 celebration has sparked off nationwide protests against a sitting president. The previous June 12 celebrations were marked with flowery speeches on the imperative of triumph of democracy in Nigeria. Some of the peaceful protesters were waving colourful placards some of which bore the following messages: “Buhari Must Go!”, “Say No to Government Funding Terrorism”, “#BuhariMustGo Protest is a fundamental right. All illegally detained citizens must be released unconditionally”. But some young protesters in Kwara State went too far. They carried a mock coffin and were parading it on the streets whilst chanting the song “Buhari must go”. There were also anti-Buhari protesters in the streets of London last week. Similar anti-Buhari protesters waving ‘Buhari must go’ placards were sighted in Toronto, Canada; Texas, USA and other countries. Of course there was the pro-Buhari crowd apparently rented by the Presidency to neutralize the anti-Buhari protest. But unfortunately the anti-Buhari protesters overpowered the pro-Buhari rented crowd to the extent that the impact of the latter could hardly be felt. Each of the pro-Buhari protesters was reportedly paid N1,000. But not all of them got the money. Those who did not get the N1,000 dramatically staged protests in front of cameras and vowed that they would not embark on any pro-Buhari protest again. In London the anti-Buhari protesters were seen chasing away the pro-Buhari protesters at the Abuja House, London.

If President Buhari had been promoting the welfare of the people in the last years the people would not have organized protests to demand that he must quit power. As far as about 85% of Nigerians are concerned, the Buhari government is synonymous with failure. At least under the Jonathan government the people could eke out a living.

Now under the present Buhari government the living condition of the average Nigerian has been appalling. Small wonder the people are clamouring that President Buhari should quit power so that there will be a new dawn of peace, stability, security and economic prosperity. If you listen carefully as you read this you will hear the following prayers of frustrated Nigerians to the Almighty God. “The Buhari government has failed us. Hear us, O! Lord ! Take this yoke away from us. Listen to your Nigerian children mobbed and murdered by Fulani herdsmen, bandits, unknown gun men, kidnappers and hired assassins. We raise our shackled hand and charge thee amid the tears of our murdered heroes.

Save us, Oh Lord….”

UNDER BUHARI GOVERNMENT THE LIVING CONDITION OF THE AVERAGE NIGERIAN HAS BEEN APPALLING

A successful administration is one with a strong presidential leadership. Weak leadership-or no leadership is often a disaster. One of the great responsibilities and opportunities of the president under presidential democracy is to lead and inspire the people and public opinion.

The words of a president carry great weight. Of course, his acts carry weight. For example, the words of former U.S. President D. Roosevelt in his inaugural address did so much to revive the waning spirit of Americans who were at that time of Roosevelt’s Presidency struggling through the depths of an American depression. Roosevelt said; “The only thing we have to fear is fear itself”. Those words, backed up later by action, restored the faith of Americans in the Roosevelt government.

But unfortunately the Buhari government is a big disaster. The words of President Buhari do not carry weight. Whenever the president speaks he annoys the people. This is why Nigerians are no longer looking up to him for leadership. Right from the very day he took power as President he has been performing below expectation. If you ask him one question he would disregard it and start talking about something else. For example, last Thursday Mr. President was asked a question relating to foreign investors in Nigeria and he veered off the question and started talking about the last #EndSARS protests and plans to dislodge him from power. The sad aspect is that our dear president is not in touch with reality. For example, Mr. President does not tackle the hydra-headed problems imperiling the country with the urgency and seriousness that they demand. He does not listen to the voice of the people. Whereas about 89% of Nigerians are clamouring for outright restructuring of Nigeria, Mr. President is insisting that only the National Assembly should shoulder the responsibility of restructuring Nigeria and enthroning true federalism and devolution of power in its on-going constitutional review exercise.

Those surrounding Mr. President should let him know that the voice of the people is the voice of Allah. Whoever does not listen to the people does not listen to Allah. The Holy Qur’an itself contains a number of injunctions and warnings on good manners and various aspects of social behavior and attitudes. In their book entitled: Islamic Manners & Social Conduct, Abdullahi Orire, B. Aisha Lemu and Asiya Rodrigo write that the obligation to avoid inflicting either physical or psychological; harm on others is a primary ethical principle in Islam.

The Prophet said, “There should be no harming or reciprocating harm” (Sunam Ibn Majah), for “He who causes harm will be harmed by Allah and he who acts in a hostile manner will be treated in a hostile manner

by Allah’’. (Jami’ al-Tirmidhi No. 1306). One of the wrong assumptions about democracy is that the political officer holders have enough wisdom and virtue to pursue the end of democracy-promotion of the welfare of the people. But viewed against the backdrop of the reign of the Buhari government in the last six years, the political leaders do not have enough wisdom and virtue to pursue the end of democracy. The Buhari democracy attests that democracy is challenged from within by sheer ignorance and pursuit of personal interests at the expense of the common good and welfare of the people.

PARADOX OF LEADERSHIP, THE ELITE AND ETHNOCENTRIC FANTASIES Leaders across the divide must make sacrifices to keep the country one, writes Samuel Akpobome Orovwuje “The way to right the wrong is to turn the light of truth upon them.” – Ida B. Wells- Barnett

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he year 2021 should be an introspective one for all Nigerians as the existential soul of the nation is being tried by political and bureaucratic elite actions and inactions.

It is hard to believe that progressives and the selected assemblies have become dangerously inexperienced, declaring choruses of ethnocentric varieties of nationalism.

Insecurity has exposed the fragility of the Nigerian system - a system that prioritises leadership and political elite idleness above all else. Before now, we were already in a leadership crisis; yet the bulk of leadership initiatives do not offer effective alternatives to nation-building in line with global best practices of federalism and decentralisation. Regrettably, governance and leadership are extremely self-serving and polarised. Security breakdown is increasingly worrisome. The nation is sick and the new narratives of herdsmen killers, banditry, kidnappers, separatist agitations and armed violence spell existential danger for national unity. Leaders across the divide must make sacrifices to stop the country drowning under the weight of numerous competing ethnic separationists political agendas, particularly when the public communication messaging is provokingly precarious and the self-validating orthodoxy of the political elite think-tanks (most of whom are ethnic upstarts) is disturbingly divisive. Authentic leadership is better appreciated if it is accessible and mind-broadening to encourage new voices which question existing governance and nation-building templates.

The elite and the Buhari administration need fresh and engaging ways to tackle intractable national issues and the existential questions that confront sustainable peace. The government should reach out beyond the bureaucratic state channels and must resist setting out

with executive/legislative power arrogance as often exhibited by ill-mannered opportunistic racketeers and spokespersons; instead, efforts should be made to reform the electoral law and to genuinely seek a new federal system for a consistent and predictable Nigeria! The president and other well-meaning leaders of thought must act boldly and quickly and in line with constitutional provisions. We need uncommon moral and soft power interface to guarantee social justice, fair play, equity and accountability in order to forestall the imminent implosion. God forbid!

Crucially, the will and aspiration of the Nigerian people remain largely unaccomplished, and this is largely due to a lack of informed civic participation and engagement. This has resulted in a downward spiral of leadership and low government performance in the last 55 years.

Evidently, there are numerous structural challenges Nigeria faces. How do we as a people unpack the seemingly vicious cycle of underdevelopment and political corruption skewed in favour of a select few? How do we reinvent and reinvigorate the 1963 republican constitution and some democratic norms enshrined in the 1999 Constitution? How do we improve civic participation and engagement? How can the youth play a significant role in enabling new voting patterns to enhance democratic, functional and inclusive governance in Nigeria at every level of government, and, finally, how can non-state actors galvanise their creative energies towards credible elections?

Recent debates within the country have centred on the challenge of insecurity and criminality as impediments to political, economic and social development.

The downward leadership spiral, wherein insecurity, criminality and multidimensional poverty are mutually reinforcing must be tackled simultaneously with restructuring and genuine constitutional amendments.

The ongoing public hearing has now become a central

component of efforts to overcome state fragility.

However, the points to consider are - Who are the potential change agents who support an overwhelming reform process? Who are the potential opponents?

What are the incentives? How can we deal with their concerns? What are the citizens’ perception of the current national assembly and historical activities of parliamentary oversight? Can this be used to mobilise reform? Does this create fear and misunderstanding?

All these are questions begging for answers.

Indeed, parliamentary geography of the national assembly and the executive control/oversight mechanisms is a highly political issue. The promotion of ethnic and national balances to ensure legitimacy and sustainability in democratic governance remains to be seen. Going forward, we the people must purge ourselves of financial handout, thuggery, ethnic nationalist incentives and polarisation of alternative platforms, religious division and disempowerment marking the political space to ignite a purposeful nation.

Truly, for the people to gain democratic mileage from the redundant and treacherous elite, they must unite in meaningful numbers around a shared value and commitment to a new Nigeria rather than fan the narrative of secessionist and identity politics.

The strategic gateway forward is to create a new and sustained narrative of trans-partisanship politics geared towards the enthronement of authentic leadership and the election of representatives that are committed to the people and the national interest.

Furthermore, the various ethnic and political constituents as well as the voting public should not accept money, in order to break the divide-and-rule political engineering mechanics and the stronghold of the dyed- in- the wool elites masquerading as representatives of the people. It is a shame that the APC True Federalism Committee Report of 2018 with a view to entrenching a workable federal system

based on the rule of law, common citizenship and respect for ethnic diversity, meritocracy, and devolution of powers and the removal of the incommodious items from the exclusive list to the concurrent list in the 1999 Constitution. Sadly, the current national assembly is still swimming against the tide of a federal structure. The ninth Assembly is organising a constitutional review that would not stand the acid test on the issues of restructuring. Nonetheless, it remains to be seen how far they can go with the ambitious and treacherous promise of drastic change which they have promised the people.

In addition, the issues of decentralisation of the judiciary, democratisation of the local government system, railways, prisons, fingerprint and criminal identification records, stamp duty, value-added tax, registration of business names, food, drugs and poisons other than narcotics, minimum wage, gender equity/balance and other contentious issues are flexible in recognising circumstantial differences, history, culture and other inimitableness of each state of the federation, which will be a sweet-smelling savour that will assuage the well-founded fears of the federating units.

Lastly, episodic and symbolic efforts of constitutional amendment are like the mouse in the corn sack. The urgency in the national conversation is a call for truth-telling. Therefore, a bill for the creation of a Truth and Reconciliation Commission (TRC) will be a good entry point and an existential pathway to constitutional reforms. Truth-seeking and the dialogue process will be essential elements for the restructuring and authentic democratisation of the political space and put an end to leadership apathy and ethnocentric imaginations that are inimical to genuine nationbuilding.

Orovwuje is the Founder, Humanitarian Care for Displaced Persons, Lagos. He can be reached via orovwuje@yahoo.com

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EDITORIAL ONOCHIE: STILL UNFIT FOR INEC JOB The re-nomination of Lauretta Onochie as commissioner is insensitive

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f there is any doubt that President Muhammadu Buhari has scant regard for democratic ethos, the re-nomination of his Special Assistant on New Media, Ms Lauretta Onochie, as a Commissioner representing Delta State at the Independent National Electoral Commission, (INEC) has cleared such doubt. Nothing can be more devastating for a democracy than the tainting of an electoral umpire with a clear stamp of open partisanship. Besides, nominating a divisive candidate for such critical assignment is also an indication of gross insensitivity to the feelings and wishes of Nigerians.

There is no question about it. Onochie is a literal attack dog of the ruling All Progressives Congress (APC) and an unashamed devotee of President Buhari. In any sane and decent society, it would be atrocious for the executive to nominate her for any position where partisan neutrality is remotely required. The moral burden is even heavier on the National Assembly. To confirm Onochie would be a travesty of legislative decency and responsiveness to popular will.

THE MORAL BURDEN For the executive, IS HEAVIER ON THE the solution to this NATIONAL ASSEMBLY. outrageous nomiTO CONFIRM ONOCHIE nation is simple: pull it down. For the WOULD BE A TRAVESTY legislature, it is even OF LEGISLATIVE DECENCY AND RESPONSIVENESS TO simpler: reject it.

Commonsense POPULAR WILL dictates that anybody appointed as an electoral umpire should not only be non-partisan but be seen to be so. In this case, Onochie is not only a presidential aide, she is also brutally partisan, and quite corrosive in the discharge of her duties. In promotion (and defence) of the APC, she has had running battles with key political actors in the past six years. Some of them have dragged her to court for alleged libel.

It is against this backdrop that President Buhari’s action is grievously insensitive, indiscrete, and lacking in moral leadership. It has equally and expectedly drawn the ire of the main opposition

Letters to the Editor

Peoples Democratic Party (PDP) who sees the nomination of Onochie as an assault on democracy and a systemic plot to rig the 2023 general election. Instructively, whereas President Buhari is a major beneficiary of extensive electoral reforms carried out by his predecessors, he has failed to add a single additional reform, having declined assent to the Electoral Act Amendment Bill ahead of the 2019 general elections.

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

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO HEAD, COMPUTER DEPARTMENT PATRICIA UBAKA-ADEKOYA TO SEND EMAIL: first name.surname@thisdaylive.com

s the name rightly implies, INEC was conceived as an impartial electoral umpire and several steps have been taken especially since 2010 to make it truly so. In 2010, for instance, the sixth National Assembly amended Sections 81, 84, and 160 of the 1999 Constitution to confer financial and administrative independence on the commission. These amendments have ensured that INEC no longer goes cap in hand to the executive to beg for the release of its appropriated funds.

To free INEC from the tethers of the presidency in administrative matters, a proviso was equally inserted in Section 160 of the constitution which confers on the commission the “powers to make its own rules or otherwise regulate its own procedure shall not be subject to the approval of the President”. To further insulate the commission from partisanship, Section 156 of the constitution was amended. That section hitherto provided that a candidate for appointment as chairman or member of INEC must possess the same qualifications as a candidate contesting for a seat in the House of Representatives as stipulated by sections 65 and 66. Absurdly, one of such qualifications is membership of a political party. To amplify this amendment, Part 1 of the Third Schedule to the constitution was amended by substituting Paragraph 14 with a new paragraph 14, which unambiguously provides at 14 (2) (b) that “A member of the Commission shall be non-partisan and shall be a person of unquestionable integrity”.

We therefore condemn this latest affront to our democracy, and we reaffirm our earlier position

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 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 (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

EGALITARIANISM IS THE HALLMARK OF TRUE DEMOCRACY

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fter 22 years of Democracy in Nigeria, it is unfortunate that the government of All Progressives Congress (APC) has become hypocritical on the issues of democracy. After 22 years, our democracy is supposed to have matured exponentially. True democracy represents freedom, liberty and an egalitarian society where people have freewill. True democracy is characterized by social equality and equal rights for all people.

Giving public holidays for June 12 and not allowing people to express themselves in itself reduces the word democracy. It is hypocritical that all we see today and in the last one year through the circle of this government, has not shown anything like freedom or people being able to express themselves freely. Our country has been reduced to an authoritarian regime where people cannot freely express themselves. It is therefore hypocritical for this APC-led government to show autocratic tendencies on one hand against June 12, and yet give public holidays for June 12. The spirit of June 12 is the spirit of freedom and Nigerians should be free to speak. This is what we see in this administration. It has never allowed or listened to the fears, lamentations and problems of the people it promised to serve. Rather than serve and lead, this government is ruling with brutal force.

This APC-led government must stop the suppression of the citizen’s voice.

You need to hear them out. Let them express how they feel whether by protests or through social media. When you have an authoritarian regime that doesn’t respect ethics and values, rule of law or international protocols of citizens, you have a society that is docile and doesn’t recognise innovation and creativity. If you have a society where everyone is allowed to be expressive, the creativity in people will come alive.

However for us in ADC in this period, we have seen that the government in

Nigeria has become so unresponsive to various issues concerning the welfare and the critical issues of nation-building and we have decided that there is no need to complain. We have taken it to God in prayer and told the citizens to continue to hold the government accountable because they must not count it as a privilege when the government finally decides it is convenient to speak to them.

Come 2023, the African Democratic Congress will create Freedom Square in every state. The Freedom Square will be built in all states for the citizenry to go express themselves 24/7 and all year round. People will be able to go to the Freedom Square to show their grievances. The era of Freedom Square will come to play a new and dynamic role in the life of Nigerian Democracy. We need to hear from the people so that whatever we need to do for the people, we do it because the ADC DNA represents freedom and authenticity which shows that we are real and not fake or hypocritical, taking advantage of the citizens.

ADC is now running on the default strategy of Buhari-exit mode to 2023, we don’t expect any miracles. Things will get worse unfortunately, as Buhari and APC enter lame ducks mode: abnormality has become normal. People don’t have jobs and they can’t complain. Families are hungry and they can’t complain. The country is burning and presently on a cliff due to insurgency and insecurity from Fulani herdsmen, Boko Haram, unknown gunmen, bandits and so on, yet the people can’t complain.

We therefore call APC to give the people space to breathe. Nigerians have to come together to vote out all the corrupt and oppressive people from government come 2023.

To God the Glory.

Chief Ralphs Okey Nwosu, National Chairman, ADC.

A BIT OF A DUST UP

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gain, there is a story of science being not quite misused but certainly being “off topic”. An ad on TV showed a Vacuum cleaner that could count and classify the particles it is picking up. The data is displayed on a screen on the vacuum. My eyesight isn’t good enough to go through the vacuum bag and confirm the count. Their website mentions lasers but fortunately not burnt carpet, so it seems safe to use. There is however a mention from one of the engineers involved about it being one of those in the shower moments. Hint: don’t take a vacuum into a shower, it probably won’t work, and it could electrocute you if there is any damage such as exposed wiring or a broken frame. It might be time to release all the scientists from commercial applications for a while and get them working on stopping the COVID pandemic, solving climate change, developing better energy sources and curing cancer. They can then move to solving poverty and food shortages.

Science is meant to explain the world and be used to make it a better place for everyone to live, not just make it a less dusty place.

Dennis Fitzgerald,Melbourne, Australia

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MIDWEEKPOLITICS

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

It’s No Use Griping About Buhari Complaints against the governance methods of the ruling All Progressives Congress and the Muhammadu Buhari-led administration may be falling on deaf ears, as the main opposition party, Peoples Democratic Party and civil society agonize over the president’s apparent nonchalance about the traumatic experiences of the common people, write Nseobong Okon-Ekong and Vanessa Obioha

Buhari

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or many who gave him a benefit of the doubt, the recent interview of President Muhammadu Buhari on ARISE News left a lot of painful effect on the audience.

Only those who vigorously defend the president’s seemingly hopeless position and outdated attitude applauded his disposition. The vast majority of Nigerians were faced with a sore reality-President Buhari is intentional about everything. He is not the doppelganger, known as Jubril. The latter description was propagated by the self-acclaimed leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu. The assumption that Mr. President is aged usually canvassed by Buhari’s critics is now the perfect excuse for Buharists backsliders.

What the ARISE News interview did was to erase once and for all every perception that Buhari is a captive of some unknown men brought together by same biases. What is very clear is that Mr. President has pledged to continue in the same fashion as when he first came to leadership in Nigeria; as Military Head of State, between 1983 and 1985. In fact, he regrets being in control now; at a time when he does not have the force of authoritarian procedures that he is used to. Speaking to the ARISE News team which included ARISE News/ THISDAY Group Chairman, Nduka Obaigbena, he expressed regrets that, “(Fighting) corruption is very difficult under this system (and even under the military system). But in this system, doing things with immediate effect is not possible because those who have the money can hire first class lawyers and cases may take 10 years. I assure you, despite the problem with the system, if we have correct intelligence that someone is not accountable, we ease them out.

Those in top positions in my government know this.”

Secondus

At the interview which also had ARISE News host Tundun Abiola, Reuben Abati, and Chairman, THISDAY Editorial Board, Olusegun Adeniyi, the Nigerian President was hard-pressed with his views on some of the prominent items of public discourse. While there is a possibility that many of Buhari’s responses were not published as an official or attributable statement, the much that were made public may have effectively dissolved some of the wrong perceptions against Buhari.

Astonishingly, the President who fielded questions from the ARISE News team did not show any sign of waned reasoning caused by senescence. He was firm in his responses and even his body language showed aloofness although he faltered when asked about his opinion on the devolution of power. Yet, not a few were stunned by the way the president handled the interview against all odds. Expectedly, not all will agree with his stance on some of the issues raised.

The PDP criticised President Muhammadu Buhari for allegedly taking

credit for the projects it initiated in the ARISE News interview. The main opposition party said it was disappointed Buhari failed to use the interview to address relevant issues confronting the country, “Mr. President bungled the opportunity by being evasive and dodgy while attempting to lay claims to projects done by PDP administrations.” This was not the only area of concern for the PDP. He pointed to other major areas. “It is ludicrous to us in the PDP that Mr. President can disingenuously seek to subtract the deliverables achieved by past PDP administration from his so-called achievement on infrastructure. The PDP places it on record and we know that Nigerians are also aware that President Olusegun Obasanjo, who was elected on the platform of the PDP, introduced a 25 years national development plan upon assumption of office in 1999. This included the massive construction and expansion of road network, power plants, railways projects, inland and coastal waterways, airports, housing, agricultural and health projects as well

What the ARISE News interview did was to erase once and for all every perception that Buhari is a captive of some unknown men brought together by same biases. What is very clear is that Mr. President has pledged to continue in the same fashion as when he first came to leadership in Nigeria; as Military Head of State, between 1983 and 1985. In fact, he regrets being in control now; at a time when he does not have the force of authoritarian procedures that he is used to

as establishment of new universities and other legacy projects in various parts of our country. We want to inform President Buhari, since he is not always aware, that successive governments elected on the platform of the PDP built on these development plans leading to the expansion of major trunk roads across our country, railways and other legacy projects which, probably, his handlers are making him to believe are his.

“It is on record that President Goodluck Jonathan also took on a massive expansion of our international and domestic airports, across the country, built and commissioned railway stations. It is instructive to state that where projects were yet to be completed, it is only a natural occurrence for any Nigerian elected as President to proceed, in the national interest, to complete such projects.

The PDP therefore considers it tacky for Mr. President to seek to claim any credit for projects he never conceptualized, commenced or built to near completion, just because he found himself in office at the point of completion.”

The PDP announced that it was shameful for the Commander-inChief to be at ease in the Presidential Villa which was built by a PDP-led government.

“Should Mr. President be reminded that even the expansion of the Presidential Villa including the Banquet Hall, which his party, the All Progressives Congress (APC) uses today as its National Secretariat was conceptualized and built by the PDP government, though leaders of the APC stood stoutly against the project while it was on-going?

“President Buhari also needs to accept the bitter fact that the current draw back in infrastructural development in our country started with his administration. Like a relay Continued on page 19

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POLITICS

It’s No Use Griping About Buhari

Buhari

race, successive PDP administrations furthered infrastructural development only for him to run the opposite direction when the baton was passed to him.

“It is important to state that only the on-going refurbishing of AkwangaMaiduguri Road that President Buhari can lay claim to as the singular and only project in which he has demonstrated capacity.

“The expectation of Nigerians is that in an interview like this, Mr. President should give honour to those who conceptualized and built these projects to near completion and, in most cases, only for him to perform the commissioning ceremony.

“Mr. President must also be reminded that all institutions of good governance under the contemporary dispensation including the Economic and Financial Crimes Commission, EFCC, Independent Corrupt Practices and Other Related Offences Commission, ICPC, the Asset Management Company of Nigeria, AMCON, and Debt Management Office, DMO, among others were PDP’s creation.

“Even the Sovereign Wealth Fund, which has become the referral point for his administration, was created by the PDP with stiff opposition from leaders of the APC, like former Governors Rotimi Amaechi and Adams Oshiomhole.

“On issue of devolution of power, state police and restructuring, it is disappointing and heartrending that Mr. President was evasive, dodgy and had no direct response to these burning issues even in the face of a national consensus for the amendment of the1999 Constitution to address these pertinent issues.

“It is also alarming that Mr. President, in his own words, dismissed two governors who ran to him for solution to issues of national security, with escalated killings, kidnapping and violence in their states.

“That action as revealed by Mr. President is very disturbing because, as the Commander-in-Chief, on whose shoulder rests the responsibility of securing our nation, and who also promised to lead from the front, his reaction ought not to have been dismissive of the said governors.

“This action as narrated by Mr. President clearly showed how he abdicated his responsibility and yet was audacious to come to the public arena and made open his personal flaws and failures that have affected the foundation of our national security and emboldened terrorists, kidnappers and bandits to attack and kill our compatriots.

“On the issue of fuel subsidy, it is a known fact that cross boarder crimes like smuggling have their negative effect on prices of petroleum products. While this constitutes a challenge to our economy, the fun-

damental issue which Mr. President dodged in the interview is the sleazy nature of subsidy policy under his administration.

“Mr. President failed to tell Nigerians how the volume of Premium Motor Spirit, PMS, used in our country progressed exponentially from 35 million litres per day to the current fictitious 100 million litres per day, upon which his administration’s subsidy payout is calculated.

“In an interview in which for the first time in the history of his government, President Buhari flamboyantly faced the camera, the opaque nature of the subsidy regime under his administration ought to have been topical. The expectation of Nigerians was for Mr. President to address the demand for openness in his administration’s subsidy regime as well as why Nigerians are paying humongous sums on subsidy.

The spokesman of the PDP, Kola Ologbondiyan, noted that instead of “addressing issues and providing direction for our nation, President Buhari exposed his cluelessness, paucity of ideas for development while making very provocative comments that could embolden terrorists as well as serve as recipe for further division and violence in the country.”

Most of Buhari’s interviews are usually riddled with vilifications about his eloquence and mentation.

It is not uncommon to see memes about his interviews flying in and out of social media. While amusing, these memes often give credibility to the argument that his age cannot rescue the country from its myriad of problems. In fact, a few days before his interview, a video of his constant usage of the phrase ‘I assure you’ went viral.

And indeed, during his over 30-minute interview, that phrase was no less ubiquitous.

In recent times, there have been calls for younger people to participate as well as occupy top leadership positions in politics. The general belief is that the country has been ruled by older people who have not really helped in advancing the country. These older people were once younger and had the opportunity to be at the helms of the nation’s affairs. As such, it is believed that they should let go of the reins and allow a younger person to rule. But sometimes, in politics, experience plays a vital role. It is one of the excuses most African leaders have deployed to claim their right to the political throne.

However, with all the experiences often gathered, most African nations are still regressing, despite the ‘progressive’ term in their political parties.

Therefore, neither age nor experience can be used as an absolute yardstick to determine the performance of a leader.

In Buhari’s case, age and his ineloquent speech are clearly not in his favour.

Apart from his shortcomings in English fluency, there are opinions that the president cannot hold a conversation for a longer period because of his ailing health. His image launderers, however, do not help in eroding this thought by always having a recorded interview which sometimes triggers the questions: Why can’t the president grant a live interview? Will we ever know why?

For one, the President is not seeking reelection. Many have said that the APC stands no chance of survival after Buhari. And the President often acts as if he doesn’t care what happens to the party after his tenure.

For the zealous members of the APC, Buhari could damage the party irretrievably by the time he finally leaves office.

GOVERNANCE IN PHOTOS

President Muhammadu Buhari, right, and Ogun state governor, Dapo Abiodun at the recent commissioning of Lagos -Abeokuta - Ibadan Railway Modernisation project in Lagos

Mr. Lucky Onoriode George, Executive Director, African Travel Commission (left) with Mr. Akwesi Agyeman, Chief Executive Officer, Ghana Tourism Authority displaying African Travel Commission certificate of registration in Accra, Ghana

From left- Osun State Governor, Mr. Gboyega Oyetola; former President, Nigeria Labour Congress (NLC), Comrade Hassan Sunmonu; Orangun of Oke-Ila, Oba (Dr). Adedokun Abolarin; Secretary to the State Government, Prince Wole Oyebamiji; Chief of Staff to the Governor Dr. Charles Akinola and others, during the 2021 Democracy Day and Public Lecture, at Aurora Event Centre, Osogbo

Speaker, House of Representatives, Hon. Femi Gbajabiamila (right) with Vice President Yemi Osinbajo with Speaker House of Representatives, Hon. Femi Gbajabiamila (right) during the public presentation of a photobook ‘Gbajabiamila: The Long Road,’ authored by Mr. Ayo Adeagbo, the Special Assistant on Visual Communications/Personal Photographer to the Speaker, in Abuja

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FEATURES

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

Fixing Infrastructural Deficit in Abia Emmanuel Ugwu-Nwogo reports that the quest to bring development to Abia State by fixing the huge infrastructural deficit complemented with the provision of social services had been a daunting task over the years until now

Governor Ikpeazu inspecting drainage construction

A newly built road

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a journey not usually beyond one hour.

So, I knew that Aba was gradually ebbing away. The traders at Ariaria market were not making much sales because there was no road leading into Aba and even Ariaria.

"This is why we came with a policy of reconstructing roads leading to such economic centres of great importance to our state. If you want to jumpstart the economy of Aba, you must find a way to allow our brothers from Akwa Ibom and Cross River states to access the city.

Then, you must also find a way for people coming from Port Harcourt and Bayelsa to come into Aba”.

Nonetheless, Governor Ikpeazu did not indulge in lamenting about the infrastructural decay he met in Aba. Six years on, the story of Aba has continued to change rapidly as more and more roads are built. The first triplet of roads the governor inaugurated within the first 100 days of his administration were Ukaegbu, Umuola and Ehere, were roads that leads one into Aba. “I had to do another road through Ekwereazu which takes you into Akwa Ibom state from Aba in just 40 minutes.

And for the first time in 30 years, we also did Faulks (Sam Mbakwe) Road leading to the Ariaria international market from Brass Junction to the (Enugu-Port Harcourt) Expressway. We did these roads to ease access to economic centres,” the governor said.

he quest to bring development to Abia State by fixing the huge infrastructural deficit of the state complemented with the provision of social services had been a daunting task over the years. All the successive administrations, military and civilian, including the short-lived third republic made efforts to give Abia the much expected quantum leap in development indices. But not much success was recorded.

Blame on Supernatural Forces It was not long before myths were invented to explain away why the state was not getting it right in tackling its infrastructural problems. It was this recourse to blame supernatural forces for failures that gave rise to the myth of 'mammy water' (mermaid) being the cause of the perennial flooding of Aba, the commercial and industrial hub of Abia.

Checkmating Perennial Flooding Looking back now, the state governor, Dr Okezie Ikpeazu, who has found the solution to the annual flooding of the Enyimba City, said the myth of the mermaid was laughable.

Obviously, as a scientist it didn’t make any meaning to him that a mermaid was behind the perennial flooding originating from Ama Ikonne and Ifeobara pond. After deploying high tech engineering works to check the flooding menace, Ikpeazu announced triumphantly that “all the 'mammy waters' have now disappeared courtesy of hi-tech engineering works we deployed to the concerned spots”.

He told THISDAY that by tackling the problem of flood in Aba, he has shown that “there could be solution to seemingly intractable engineering problem”.

Quality Roads Ikpeazu’s application of scientific principles of finding out the cause of a problem before seeking the solution was also applied in fixing the roads. “It is not that those who came before me didn’t attempt fixing the roads, but the roads they did failed after just the first rainy season. The reason was that they didn’t do sufficient study and deep planning about what really needed to be done to solve the problems as to why the roads kept failing almost irredeemably," he said.

By taking a new direction of doing things in a different way to achieve effective results Ikpeazu has carved a niche for quality jobs.

In fact, he said it was a well thought-out action plan to focus on quality infrastructure, noting that the result has already shown that it has boosted trade and commerce

and returned investors to Aba. Thus, the Abia of today has moved tremendously forward from where it was in May 2015 when Dr Ikpeazu, a renowned biochemistry teacher, took over the mantle of leadership as the fourth democratically elected governor of the state.

He has jumpstarted God’s own state to commence a journey with a well defined destination: holistic development.

It was in acknowledgement of these visible developmental efforts with the attendant turnaround in infrastructural development that Governor Ikpeazu launched his highly popular and successful projects inspection and inauguration tours christened “Kinetic Abia” in August 2020. He is, indeed, providing the motive energy for the motion towards unprecedented development being witnessed in Abia across different segments. This apparent burst of latent energy which translated to kinetic energy is propelling Abia in the right direction and even confounding the governor’s critics. Much of the criticisms hitherto hauled at Ikpeazu had centred on the poor state of infrastructure in Aba. But to the pleasant surprise of his admirers the governor has shaken off the inertia and moved to a higher level of performance. When the National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus, visited Ikpeazu’s Abia and joined a team of editors from national media houses on a tour of some ongoing and completed projects of the governor back in 2017, he was pleasantly shocked by the extent of work already done by the governor as at then.

Because he had not read about those achievements in the media prior to coming to Abia, Secondus concluded that the Abia chief executive was working without attracting media attention hence he dubbed Ikpeazu a “Silent Performer”. While that epithet has stuck with him a new one “Kinetic Performer” has been added by his admirers in appreciation of the new reality in Abia.

Reforming Aba The commercial city of Aba is usually the barometer with which the performance of governors is measured in Abia. That was why the poor state of infrastructure became a weapon in the hands of Ikpeazu’s critics.

The governor did not play the ostrich.

He readily acknowledged that all was not well with infrastructure in Aba hence he vowed to change things for the good.

He said: “There was no road to Aba. I once tried getting to Ikot Ekpene in Akwa Ibom state and it took me five hours for

Tackling Infrastructural Deficit The Commissioner for Information, Chief Okiyi Kalu said the Ikpeazu administration has been relentless in tackling the infrastructural deficit in the state, noting that at the last count over 108 roads have been constructed, most of which are in Aba. In line with Ikpeazu’s love for quality the roads are built to specification using rigid and flexible pavement technologies.

He has equally delivered five new bridges, tackled eight gully erosion mediation projects and is tackling two massive flood control projects at Ndiegoro and Ifeobara axis of Aba valued at over N30billion.

According to the information commissioner, the governor is also actively working at 49 other road project sites in the state and has vowed to complete them before handing over in 2023. The seven road projects inaugurated with the first 100 days of the administration are good attestation to the high quality and durability of the completed projects. The roads are still strong and smooth since 2015 unlike what obtained in the past where roads done in Aba hardly lasted for more than

one rainy season. Both contractors and the government profess that the roads have certified life span of more than 30 years.

Academic Excellence In education, Abia’s report card has remained impressive over the past five years as evidenced in its performance in external examinations. The state has maintained first position in the performance ranking for West Africa Secondary School Certificate Examination (WASSCE), back to back for five years.

In addition to that, Abia school children have excelled in both local and international academic competitions. “Nobody is in doubt about the status of Abia State as the number one in education In Nigeria,” Okiyi enthused. “To achieve this enviable height, Governor Ikpeazu had identified and focused on three key elements involved in academic excellence: teachers, infrastructure and students”.

To improve the skills of Abia school teachers, Ikpeazu brought international education service providers from Australia and India to retrain Abia public school teachers and has also established a teachers' continuous education institute in Umuahia where modern teaching methods and application of technology in learning is taught.

This ensures that Abia teachers are able to match global teaching and learning standards. In addition, the governor instituted annual car awards to encourage best performing teachers selected from the three geopolitical zones of the state.

The human capital development in the education sector has also been complemented by infrastructural development.

The Governor has so far constructed 586 new classroom blocks across the state and built four new model schools. These schools are meant to serve as sample institutions for proprietors of private schools in the state to copy as minimal structural and academic environment standard before government approvals.

The improvement in infrastructure and human resources in the education sector has yielded good results. According to official statistics, when Ikpeazu took over as governor in 2015 public school enrollment figure in the state was less than 150,000 pupils.

“That was a key worry for me knowing that the average parent cannot afford to spend more than 40 per cent of family income on education of their children and still contribute effectively to wealth creation in our state,” Ikpeazu had said. The end result of the measures and incentives that

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FEATURES

Gov Ikpeazu receiving tutorials at the Aba Shoemaking Academy

he applied to improve education standard is that public school enrollment improved from under 150,000 in 2015 to more than 650,000 pupils at the end of 2020.

The free school meal programme launched by the Ikpeazu government even before the federal government started its own, played vital role in school enrolment.

Abia started the programme by feeding primary 1 – 3 pupils but when the federal government later came on board and took up the responsibility of feeding Primary 1 – 3 pupils nationwide, Ikpeazu shifted to feeding Primary 4 – 6 pupils in Abia’s public schools, thus making Abia the first state in Nigeria where primary 1-6 pupils receive free school meal daily. To revive and sustain technical/vocational education in the state the governor launched the innovative Education for Employment (E4E) scheme, which is aimed at imparting relevant skills that will drive industrial growth in the state.

Agricultural Benefits The economic benefits that agriculture brought to the regional governments in the first republic are still remembered with nostalgia in Abia. Ikpeazu has therefore decided to follow the foot steps of the late Premier of defunct Eastern Region, Dr Michael Okpara by making agriculture a top priority. He has been making efforts to reinvent the oil palm revolution of the 60s. In 2016, Dr Ikpeazu procured and distributed more than four million high yielding tenera specie palm seedlings in the state in order to replace the wild species planted by the Okpara administration.

Abia is expectantly waiting for the palm seedlings to attain maturity and transform to palm trees. The high expectation is borne out of the tremendous economic benefits to reap, including foreign exchange earnings. Dr Ikpeazu, who has always stated his preference for farmers to process their primary products in order to derive more economic benefits from the value chain, has embarked in installing palm processing cottage plants in seven local governments.

Ikpeazu also established a 150,000 bird capacity poultry cluster at Nsulu in Isiala Ngwa LGA which also serves as a center of training for young entrepreneurs seeking to go into poultry farming. A second cluster is expected to be constructed soon in Item, Bende LG. Similarly, Dr Ikpeazu established the first technology driven large scale mushroom production facility in the state which is being used to train and equip Abia’s new mushroom production entrepreneurs.

Further to the efforts being made to give agriculture its pride of place in the economy of Abia the governor has jolted the state to exploit its rice production potentials. Abia is today in the rice production map of Nigeria as Ikpeazu has not only encouraged rice farmers to take action but also established five cottage rice mills in Ofeme, Acha, Bende, Uzuakoli and Abam.

He has supported rice farmers with inputs such as high yielding seedlings, modern equipment, agrochemicals, extension services and many more. With his marketing

push for homegrown rice consumption, many farmers who hitherto abandoned rice fields have returned to add to the recorded improvements in annual rice production of the state.

Boost for SMEs The reputation of Abia as the SME Capital of Nigeria has continued to receive major boost in the present dispensation. Through the governor's focused interventions Abia shoe makers and other craftsmen have benefited from uninterrupted power supply courtesy of the Rural Electrification Agency of the Federal Government. With the enhancement of the production capacity of Aba artisans due to the improved power supply Ikpeazu has followed it up with massive rebranding and promotion of Made-in-Aba products globally. This accounts for the reason Nigeria’s military and para-military agencies are beginning to think home and source their boots and other kits from Aba. Not done, Ikpeazu wants Aba producers of leather and garment products and garments to engage in mass production of their goods in order to meet up with the upsurge in demand. To this end, he supported the acquisition and deployment of modern technology in shoe making, Ikpeazu identified 30 budding shoe makers and sponsored them to China to learn automated shoe making.

On their return, he imported the equipment they trained with and established the Enyimba Automated Shoe Factory in Aba that is already producing for Nigeria Railway Corporation and such other corporate clients. Presently intellectual dimension has been added to the business shoe making in Aba. The Aba Footwear Academy was recently inaugurated by an entrepreneur, Bently Chukwuemeka to ensure the training of well skilled men and women in shoe making so that Aba would continue to maintain its pride of place in the production of shoes and other leather products.

Ikpeazu was so excited by the initiative that he promptly enrolled as a student of the Academy. He has also promised that the Abia State Polytechnic would introduce shoe making into its academic programmes so that those who are in the shoe making business could get formal certificates as well as intellectual depth in addition to their skills. In the garment sector the governor recently performed the ground breaking of a new garment cluster in Umukalika Aba with the equipment for the establishment of an automated garment making factory already procured.

The achievements of Ikpeazu in the area of Small and Medium Enterprises (SME) development is legendary with many pointing to this segment as his strongest and most impactful turf. His deliberate and well thought out engagement in the sector has helped to solve some of the challenges of access to fund, automation and power that hitherto slowed down growth unbearably within the sector.

Indeed, SMEs in Abia State have never had it this good since the return of democracy in 1999. It is a signpost of the new

Newly reconstructed Aba-Owerri road, Aba. It is the main entrance into the commercial city

found verve that, during the early days of the outbreak of COVID-19 in Nigeria, Governor Ikpeazu financially supported and motivated Aba entrepreneurs to lead the nation in the production of locally made PPEs such as face masks, protective gowns and hand sanitizers for both local and international markets.

The infrastructural turn around of Aba and the boost that SMEs are receiving has not gone unnoticed by the organised private sector, which has lauded Ikpeazu for his efforts. President of the Aba Chamber of Commerce Industry, Mines and Agriculture (ACCIMA) Chief Lawrence Obeta in his remarks during the inaugural of some of the newly built roads in Aba, said the business community was the greatest beneficiary of the new direction Ikpeazu has positioned Abia.

Investment-friendly Recently, the National Bureau of Statistics reported that Abia received the third highest foreign investment in Nigeria only behind Lagos and Abuja. “This is seen by many as a culmination of the efforts of the Kinetic Governor of Abia who has worked hard since 2015 to make the state investment friendly through improvements in ease of doing business, provision of durable infrastructure to support new investment and consistent relative improvement in security that has ensured that Abia is rated as the most peaceful state in Nigeria and one of the top five most secure states in the country,” Okiyi said.

Healthcare Innovation While building infrastructure Ikpeazu is not unmindful of the health needs of the people. It is a truism that good roads, street lights, and other social amenities would be of insignificant benefits if the people are not healthy enough to enjoy them. Ikpeazu's response to the health needs of Abians was to initiate healthcare innovations, some of which were deployed to achieve success during the intense battle to stem the COVID-19 pandemic.

The healthcare innovation that readily comes to mind is the Abia State Telehealth Initiative launched in 2017. The programme, which its promoters said “is the first of its kind on Africa”, involves more than 20 medical doctors providing round the clock medical consultancy services to citizens seven days of the week. It also links 772 Primary Healthcare Centers (PHCs) in the state.

The “Dial -A -Doc service which was launched by Vice President Yemi Osinbajo on April 13, 2018, who had then noted that “mobile phone serves is a means of delivering healthcare to the people especially the most vulnerable and downtrodden and ensures even communication with doctors through local language or dialects’. The project was crucial to the coordination of the state’s response to the outbreak of the pandemic.

Another innovation is the provision of free medical services to elderly persons above 70 years Governor Ikpeazu has equipped and made functional four new General Hospitals in the state and is currently

constructing a first of its kind Mother & Child Hospital in Umuahia. Public hospitals have been equipped hospitals in the state with modern equipment for diagnosis and treatment of sundry diseases".

In the South East region, Abia Is said to be the only state with three COVID-19 diagnosis laboratories including PCR and GenXpert equipment procured by the Ikpeazu administration. Indeed, the administration’s management and response to the pandemic is regarded as among the best in the country. To cater for medical emergencies in the state, Dr Ikpeazu launched the Abia State Emergency Medical Services program with four fully equipped mobile clinics and a pool of nine ambulances.

According to available data, the focused intervention of Governor Ikpeazu’s administration along the three spectrum of the health care chain, namely mother/ child, geriatric and medical emergencies has contributed to life expectancy in the state being above the current national average of 54.81 years.

Ameliorating Security Challenges Even before the present security problems that have spread across the nation, Abia has always been relatively peaceful. This is largely due to the robust security architecture put in place by the governor with multiple layers of structure to prevent and control crimes. To date, he has donated more than 100 patrol vehicles to security agencies in the state and also deployed technology to support crime fighting and prevention.

The governor has built a built a befitting new headquarters complex for the Zone 9, which enabled them to relocate to their permanent site at Ogurube Layout. He has as well constructed eight housing units to ease the accommodation needs of some of the officers.

Though crime can hardly be completely be wiped out in any society major crimes are becoming rare in Abia. For instance, it is on record that since the inception of the Ikpeazu administration, Abia State has not recorded a single successful bank robbery.

The prevailing peace and security has contributed in attracting investments to Abia. The recent report by the National Bureau of Statistics (NBS) ranked Abia as number in attracting new investments in 2020, just behind Lagos and Abuja.

With just two years remaining for his administration to wind down, Ikpeazu believes that he has done his best to make Abia put its right foot forward in the development journey. He told THISDAY that his objective of making Abia much better than it was when he took over the reins of power is being achieved as Aba and other parts of the state are already wearing new looks.

“To the glory of God, we have recorded modest achievements that have improved the wellbeing of our people. We hope to do much more in the remaining years because the energy exists to drive our kinetic movement to excellence," he said.

With all these achievements, Governor Ikpeazu is certain that Abia has set its feet “on the path of irreversible development”.

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BUSINESSWORLD

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

ͯ ͯ ˜ Ͱ ͮ Ͱ ͯ MONEY MARKET OVERNIGHT OBB

REPO 22.93 22.33

CALL 1-MONTH 3-MONTH

S & P INDEX 22 23.50 25

INDEX LEVEL 1-DAY MONTH-TO-DATE

S & P INDEX 515.40% 0.01% 1.42%

1/4 TO DATE YEAR TO DATE

EXCHANGE RATE -7.76% - 23.11%

N410.75/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Coronation Insurance Posts Profit Growth

Coronation Insurance Plc said it achieved 461 per cent growth in its ProfitAfterTax(PAT)fortheyearendedDec.31,2020.Theunderwriting firm also said it generated a gross premium income of N17.2 billion in 2020, as against N15.8 billion achieved in 2019 financial year.

This was contained in the company’s consolidated and separate financial statements recently released on the floor of the Nigerian Exchange Limited. The company, during the period under review posted PATof N1.2 billion, compared with N214.33 million recorded in the comparative period of 2019.

GroupgrosswrittenpremiumrosetoN16.19billionfromN15.20billion in2019.However,thecompany’sgrosspremiumwrittengrewtoN11.64 billion from N10.71 billion recorded in 2019. The insurer said it paid N6.91 billion as claims in 2020, signifying a 69.5 per cent increase year-on-year.According to the insurer, fee and commission income for the year under review increased by 26. 7 per cent to N2.11 billion.

The total underwriting profit rose from N2.9 billion to N3.2 billion within the period under review, while its investment income rose to N922.1 million from N912.2 million it was in 2019.

It said other operating income as well, grew to N1 billion from N479.3 million within the period under review.

CELEBRATING5THANNIVERSARY

GPPSL Bags NIPS Award

L-R: Co- Managing Partner/ Head Financial Advisory, Comercio Partners Limited, Mr. Steve Osho; Co- Managing Partner/Head Investment, Mr.Tosin Osunkoya; and Co-Managing Partner/HeadTrading,Mr.NnamdiNwizu,duringamediabriefingtocommemoratethecompany’sfifthanniversaryheldinLagos...yesterday ETOPUKUTT

Private Sector Operators Harp on Reforms to Save Economy Dike Onwuamaee

ECONOMY

Presidents of the Organised Private Sector of Nigeria (OPSN) have tasked the federal government to muster the political will to initiate crucial economic reforms that would save the Nigerian economy from being crippled by its manifold teething problems.

The presidents of the OPSN also warned the government to launch such reforms without further delay since the Nigerian economy is in need of definite proactive steps that would make it competitive and attractive to investors and also spare it the contradiction of being the continent’s biggest economy with the highest poverty and unemployment rates in Africa.

They also decried the situation whereby government policies put the operators of the private sector in tight corners as, “national poli-

cies are not allowed to gestate before being changed, which leads to loss of private sector investments.”

Membership of the OPSN is made up of the Manufacturers Association of Nigeria (MAN), the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), the Nigeria Employers’ Consultative Association (NECA), the Nigeria Association of Small Scale Industries (NASSI) and the Nigeria Association of Small and Medium Enterprises (NASME).

The OPSN expressed these views during a media briefing with the theme: “The State of the Economy and A Call for Urgent Action.”

The Chairman of the OPSN, Mr. Taiwo Adeniyi, who read

the keynote address during the conference, said, “while there are ongoing efforts by the governments at all levels to ensure the sustenance and development of the Nigerian economy, it is obvious that more needed to be done, and urgently too, to ensure the survival of the economy,” adding that “as at today, it is obvious that the Nigerian economy is challenged on many fronts and unless crucial economic reform and political will are demonstrated, the teething problems might cripple the economy.”

Adeniyi said, “it is alarming that the largest economy in Africa is also one of the most challenged. Nigeria, which has the world’s highest number of extremely poor citizens, is on track to set yet another record: the highest unemployment rate.

“It is important to note that

Nigeria’s unemployment rate is the highest among Africa’s top ten largest economies.”

He stated that the business community and key stakeholders in the Nigeria project believed that the economy could witness an economic renaissance that would place it among the world’s top economies.

The OPSN, therefore, suggested a mix of fiscal, monetary and trade policies that would provide the necessary impetus that would rejuvenate the economy.

These include giving more attention to Public Private Partnership (PPP) as a way to address the huge infrastructure deficits and provide decent and sustainable jobs that would lift significant number of people from poverty rank even before the desired date of 2030.

Continued on page 26

NNPC Rallies Gas Producers to Enhance Supply to Gencos Peter Uzoho The Nigerian National Petroleum Corporation (NNPC) has begun engagement with gas producers in the country in order to boost gas supply to power generation companies (Gencos).

The move is aimed at addressing gas supply constraints being complained by the Generating Companies (Gencos) and help increase generation for improved electricity supply to Nigerians.

The Chief Operating Officer, Gas and Power, NNPC, Mr. Yusuf Usman, disclosed this in Lagos, during his tour of Egbin Power

ECONOMY Plc facility on Monday, adding that the NNPC was committed to enhancing domestic gas utilisation in the country.

Usman spoke in response to concerns raised by the Chairman of Egbin Power Plc, Mr. Temitope Shonubi, who briefed the Chief Operating Officer and his team on the progress and challenges of the company.

He said the company’s concern in the area of gas supply and transmission restrictions had been noted, adding that the corporation would support it to ensure steady

power supply and also ensure that power generated was safely evacuated.

“I have listened to all the concerns you raised. An area of concern to me is when you talked about the gas constraints.

We are going to support you to make sure that the power supply is steady. We are having a session with gas suppliers in this regard.

“I am aware that works are ongoing in this regard to ensure that all the power we generate is safely evacuated,” Usman said.

The Chief Operating Officer however, said he was impressed by the level of progress being recorded by Egbin, noting that

the effort of the company’s management to effect turnaround maintenance at the company through overhaul of the entire system, was commendable.

Usman added: “The visit has been an eye opener for me. We have seen turbines that have been running for over 40 years. We have seen efforts being made by Egbin management to effect a turnaround at the plant through overhaul of the entire system.

“We have also seen the support you have been given to the youths through employment and capacity development Continued on page 26

The Global Process and Pipeline Services Limited (GPPSL) clinched, for the third consecutive time, the Oilfield Services Company of the Year 2020 award at the fourth edition of the Nigeria International Petroleum Summit (NIPS) held recently in Abuja.

The company was adjudged the best in the category after an online voting process by industry professionals and stakeholders, making it the only company that has won the highly coveted award in this category from inception.

The Chief Executive of GPPSL, Obi Uzu, who received the award on behalf of the company at the NIPS dinner held at the State House Banquet Hall, PresidentialVilla Abuja, said winning the award for the thirdconsecutivetimewas,“acleartestamentandacknowledgement ofGPPSL’ssignificantcontributiontooilandgasdevelopmentthrough its excellent track record in process and pipeline services in Nigeria’s oil and gas sector.”

Headded:“Wearehumbledbythisrecognitionforourmodestefforts making us a reference point for indigenous capacity for process and pipeline services in the country.”

Uzu thanked the organisers of the award for recognising GPPSL and for taking note of the company’s unique focus on process and pipeline services in Nigeria’s oil sector.

He assured all stakeholders that GPPSL will not relent in its effort to offer excellent services in the industry, while maintaining global best practices at all times, noting that the company was proudly Nigerian and product of the Nigerian Content Initiative.

ARC Partners Disaster Protection Centre

The African Risk Capacity (ARC) Group and the Centre for Disaster Protection have entered into a partnership agreement to mutually promote technical collaboration on capacity building, research, and advocacy through a Memorandum of Understanding (MoU) jointly signed by the chief executives of both institutions.

UndertheMoU,thepartieswouldexploreopportunitiesandleverage their respective core competencies to promote activities that would increasethequalityandquantityofriskfinancingproductsandservices towardsimprovingAfricanagriculturewhichhasperenniallysuffered from low levels of public / private investments.

OnsigningtheMoU,theUnitedNationsAssistant-SecretaryGeneral / Group Director-General of the ARC Group, Ibrahima Cheikh Diong, complimented the Centre for Disaster Protection for its continued interest and confidence in the ARC mechanism as “world’s first development insurer.”

Hestatedthat,“Thecordialrelationshipwehaveestablishedoverthe years, (with the Centre), have been mutually beneficial to the pursuit of our common objectives to assist high risk, vulnerable countries in making better risk management decisions.

“Weareveryoptimisticthat,byworkingtogether,wecanbetterassist ourmemberstostrengthentheirdisasterriskmanagementsystems

“I’m happy to announce that a critical lever to achieve the decade of gas is progressing speedily. Because we surely do have gas reserve growth. First, Nigeria achieved the target of 200 trillion cubic feet of gas as at January 1, 2019, before the 2020 targets” Director, DPR,

Sarki Auwalu

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25

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BUSINESSWORLD PRIVATE SECTOR OPERATORS HARP ON REFORMS TO SAVE ECONOMY Other policies advanced by the OPSN also include the unification of the foreign exchange rates and the jettisoning of multiple currency practices, which according to them have not reflected the true value of the naira.

It said: “In order to jump-start local production in the economy and improve the growth of our Gross Domestic Product (GDP) to the level above the population growth rate, which is about three per cent, right pricing and availability of foreign exchange to the productive sector of the economy among other factors, would be required to ensure speedy growth and development of the economy.

“We believe that CBN action in defending the naira has a limit; therefore, we advocate for a more deliberate measure and drive in increasing local production for export potential.

“Despite the fact that we have huge export potentials, our import items are still dominated by products that should have been produced in the country to reduce the country’s demands for foreign exchange.

“A deliberate structural policy towards this should be developed in collaboration with key stakeholders in the value chain, so as to reduce the consistent depletion of the foreign reserves and rising trade deficits.”

NNPC RALLIES GAS PRODUCERS TO ENHANCE SUPPLY TO GENCOS

opportunities.”

In his remarks, Shonubi informed his visitor that Egbin Power was planning to add additional 1,900 megawatt to the Nigeria’s power generation pool.

Explaining the expansion plan for the Egbin, termed as Phase 2 Investments, Shonubi maintained that the expansion would add between 1,750MW and 1900MW to the Nigeria’s power generation.

Taking his visitors through the post privatisation journey by the thermal plant, the helmsman maintained that the plant had gone through major overhauling, which he explained, had helped to increase generation from the low capacity it had before 2013.

NEWS

Nigeria-South Africa Trade Hits $2.9bn Nume Ekeghe The volume of trade between Nigeria and South Africa hit $2.9 billion last year with expectation of it rising further with the African Continental Free Trade Area (AfCFTA) agreement.

Nigeria’s Consul General, Malik Abdul, in a statement noted that Nigeria accounts for 64 per cent of South Africa’s trade in West Africa and is one of his country’s top three sources of crude oil.

He further added that in 2020, South Africa imported R35 billion ($2.48 billion) worth of goods, predominantly crude oil from Nigeria and exported R6 billion ($425milion) to Nigeria.

He stated: “South Africa is currently among the top 10 per cent of investors in Nigeria, globally and Nigeria is South Africa’s 10th biggest export market in Africa and thirty-second globally. Nigeria accounts for 64 per cent of South Africa’s trade with West Africa and is one of South Africa’s top three sources of crude oil.

“Also, Nigeria in 2020 was South Africa’s top import market in Africa and sixth globally, after China, Germany, USA, India and Saudi Arabia. Over the past year, South Africa imported $2.48 billion worth of goods predominantly crude oil from Nigeria and exported $425 million worth to Nigeria.”

Also, the consulate said his

Obinna Chima

Capital Market Editor

Segun Awofadeji in Bauchi The Federal Ministry of Budget and Economic Planning has stressed the need for state governments to ensure the full implementation of the various UN resolutions which are meant for the development of the country and its people.

The call was made in Bauchi yesterday, by the Assistant Director/Head, United Nations Development System Unit in the Federal Ministry of Budget and Economic Planning, Mr. Kalu N. Kalu, at the opening of a one-day programme on, ‘Women, Peace

The Nigerian commercial paper (CP) market continues to demonstrate resilience and consistency in providing succour to corporates across diverse sectors by offering a viable platform for these institutions to raise finance to fund their capital requirements.

As the leading organiser

ËÒÏÏ× ÕÓØÑÌÙÖß (Advertising) Correspondents

Chinedu Eze (Aviation) ÜÙ×ÙÝÏÖÏ ÌÓÙÎßØ (Maritime) Ë×ÏÝ ×ÏÔÙ (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

ÙÝË ÖÏÕÒßÙÑÓÏ (ICT) Peter Uzoho (Energy)

Missions, there was a need to impose fines to deter people from engaging in such infractions.

“At such an astronomical rate of loss declarations, the option will be to refer such losses to Nigeria for processing.

“This will save the booklet for genuine requests of re-issue and thereby reducing the backlog and pressure on the Mission,” the envoy said. Abdul disclosed that the consulate had received a directive to embargo processing of lost passports pending further instructions from the headquarters.

FACILITY TOUR

L-R: Managing Director, WAGL Energy Limited, Emmanuel Ubani; Executive Director, Sahara Group, Wale Ajibade; Chief Operating Officer, Gas and Power, NNPC, Yusuf Usman; and Chairman, Egbin Power Plc, Temitope Shonubi, during the courtesy visit of the NNPC Chief Operating Officer to Egbin Power Plc in Lagos... recently EGBIN POWER PLC

and Security in Nigeria,’ held in Bauchi. He said since 2000 when the UN Security Council passed the Resolution 1325, the Ministry has tried to see that same was domesticated in the country in order to ensure that Nigeria is moving on same page being a member of the UN. According to him, the issue of women and girls attracts attention globally considering that they are the most vulnerable in the society as they are exposed to various forms of gender-based violence. He stressed the need for the girl child to be adequately protected. Kalu also commended

the UN Women, the Norwegian Government and other partners for the support given to the country in ensuring that various resolutions were duly implemented assuring that the Ministry will continue to support states in the implementation of the resolutions.

He urged participants at the meeting to speak out, give their progress reports and recommendations which he said will guide and help the Ministry in planning the implementation of the second phase of the programme when it eventually commences very soon.

In his opening remarks, Pro-

gramme Coordinator with UN Women, Mr. Peter Mancha said already 15 states including Bauchi have keyed in to the implementation of the UN Women program and have gone ahead to launch the implementation plans.

He added that, the UN Women has been working with various partners including, Partners West Africa Nigeria (PWAN) and International Alert in the implementation process of the programme under the support of the Federal Ministry of Budget and Economic Planning.

Mancha also said various State of Assembly across the country

have collaborated in the passing of the Child Rights Act and the VAPP laws which he said when fully implemented will reduce the challenges facing women and children particularly the girl child. The UN Women Programme Coordinator also said the ‘HeforShe’ program has been launched in order to ensure that men played active roles in the protection of the women urging the various implementing partners to come out with a road map for the implementation of the second phase of the programme which is expected to commence very soon.

for the Nigerian debt capital market (DCM) and in its role as a catalyst for infrastructure development, FMDQ Securities Exchange Limited has approved the quotation of the Mixta Real Estate Plc N1.02 billion Series 36 Commercial Paper under its N20.00 billion Commercial Paper Issuance Programme.

Mixta Real Estate Plc, a subsidiary of Mixta Africa, is

a leading real estate development company in Nigeria with a strong track record, diverse real estate portfolio, and operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry. According to FMDQ, the admission of the CP, which was sponsored by FBNQuest Merchant Bank, serves to reaffirm FMDQ Exchange’s efforts in boosting investor confidence

and reinventing the Nigerian CP market. “As an exchange positioned to bring about revolutionary changes in the Nigerian capital market, FMDQ Exchange, through the collective efforts of its varied stakeholders shall continue to deliver valueadding initiatives, ranging from the continuous upgrade of its listings and quotations service, to product and market innovations, amongst others.

“With a vision to be “the most attractive Exchange in Africa by 2025”, and a mission to “collaborate to empower markets for economic progress towards delivering prosperity,” FMDQ Exchange is committed to articulating and pioneering, innovative ways to improve and make the Nigerian financial markets globally competitive, operationally excellent, liquid, and diverse,” it said.

Farmforte Signs Strategic Partnership to Boost Agriculture

Comms/e-Business Editor

Senior Correspondent

According to the Nigerian envoy, the decision was taken to remove disparities in all consular services, noting that visa fees have also been harmonised.

On penalty for lost passports, Abdul disclosed that 484 Nigerian passports were reported missing at the mission between August 2020 and May 2021 with request for re-issue. Abdul said it was discovered that there were criminal undertones and immigration rules infractions associated with the ‘so-called’ lost passport declarations.

“In line with practice in other

FMDQ Exchange Admits Mixta Real Estate Commercial Paper

Goddy Egene

Emma Okonji Asst. Editor, Money Market Nume Ekeghe

tive fees and charges for lost passports, Abdul said that the step was taken to harmonise and standardise consular services following approval from the Ministry of Foreign Affairs, Abuja.

The Mission had increased the fees for lost passports from R1,500 to R2,000, and admin charges of R120 for data capturing.

“On this issue, the Mission could not unilaterally impose any charges without headquarters’ approval or consent.

“The admin fees of R120 pertains to all services rendered by the two Missions,” he said.

FG Urges States to Fully Implement UN Resolutions

Goddy Egene

Group Business Editor

embassy issued a total of 10,341 passports to Nigerian citizens in South Africa between March 2020 and May 2021.

The consul general further said the Mission had 404 unclaimed passports, and advised all those whose passports were processed and pending from August 2020 to come for collection. Abdul added that the consulate was working to clear all COVID-19 lockdown backlog of applications, urging members of the public to exercise patience while the mission was resolving the backlogs. On the re-introduction of administra-

Goddy Egene Farmforte Limited has signed a strategic Memorandum of Understanding (MOU) with the Agricultural Fresh Produce Growers and Exporters Association of Nigeria (AFGEAN), HYBR, a pan-African Innovation firm, and ALTS, a consulting and strategy development firm.

Framforte Limited is an innovation-driven and impact-oriented company with significant play in

the agriculture, manufacturing, retail, and technology sectors.

The quadripartite partnership will strengthen common interest cooperation and stimulate inclusive and sustainable growth within the agricultural sector, by capitalising on the synergy and comparative advantage offered by each organisation.

Speaking during the signing ceremony, the Co-Chief Executive Officer, Farmforforte Osazuwa Osayi, said: “Our mid to long

term strategic goals are further reaffirmed, as this partnership will facilitate the sharing of knowledge, ideas, and expertise across the agricultural sector.

“We will collectively address initiatives and approaches concerning agricultural investments, food security, and the overall robustness of the value chain.

This collaboration will also unlock the full potential of the sector and place it on a renewed path for success, especially within a

post-pandemic economy.”

According to him, as agriculture plays an increasingly critical role in the sustainable growth and development of Nigeria’s economy, there is a greater need to accelerate the development of innovative agricultural solutions to propel the industry’s exponential growth.

Commenting, the President of AFGEAN, Tajuddeen Dantata, said: “By creating dialogue and fostering investment in the

horticulture sector, this partnership will endeavor to support Farmforte in its exporting efforts by improving operational efficacy and cost-savings, while ultimately driving socio-economic growth in the country.”

Also speaking, the Chief Executive Officer, HYBR, Charles Ojei, said: “To drive inclusion, sustainability, job creation, and Nigeria’s overall economic growth, the optimisation of the agriculture value chain is critical.

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Brown: We Must Be Cautiously Optimistic about Oil Price Recovery The Chief Executive Officer, Seplat Petroleum Development Company Plc, Mr. Roger Brown, speaks on the company’s operations, the oil and gas industry and other sundry issues. Goddy Egene presents the excerpts:

T

he COVID-19 led to a sharp drop in crude oil prices and demand.

How did Seplat cope?

Globally, all businesses unless you are Amazon or unless you are Zoom, were heavily impacted by the pandemic. We saw in the second quarter of last year unprecedented oil prices. So, last year, we showed the resilience of our business and the counterbalance of our gas business, which is delinked to the oil price, and that really helped us last year. When you take a snapshot of the financial statements, you will see impairments – that is regulatory standard. If you look at most companies, they are taking billions of dollars of impairments. But for Seplat, most of our impairments are intangible. So, it is not a real loss, it is just an accounting loss. And we follow all accounting laws that was why we had those impairments last year. If you look at our cash generation last year, which is an important measure we look at, we were cash positive. We actually funded all of our capital expenditure. We repaid $100 million revolving loan facility, and so we continued to de-leverage even in difficult situations. That really speaks to what Seplat is all about, which is managing risks and getting ready for the battle times ahead. We are seeing a recovery in oil prices now, and we certainly see a recovery coming in through 2021 results.

The first quarter of 2021 has shown that and you will continue to see that going forward.

Can you shed some light on the capital raise and merger and acquisitions (M&As)?

We are sitting on a good cash flow. We just raised a new bond – a $650million bond, which is one of the biggest bonds to be raised, particularly for a Nigerian oil company. So, in terms of leverage, we are fine and in terms of cash flow, we are fine as well. We have headroom on our debt facilities today. So, for now, we do not see any need to raise any equity or go to shareholders to raise money for our business. We are cash positive, and we are comfortable today. In terms of questions around M&As, we are very clear on our position. We are organic and growing and widening our business. But inorganic is also part of this as well. We are into gas, and we are going into renewables in the future. We are going to see in the next 12 to 24 months or even longer, an unprecedented shift. We predicted this years ago and it is starting to happen now, where the major oil companies will start to move from the onshore and the shallow water offshore and focus on their skills sets which is deep waters.

That plays to Seplat’s strength in terms of M&As activities. So, we are sensible, we look at every opportunity individually. We have got some high criteria at the board to make sure it is profitable and everything else. If it fits within our portfolio we are going for it.

You seem to have a lot of subsidiaries, are they all viable?

Seplat does not set up subsidiaries for the sake of it. When Seplat concluded the Eland acquisition, it came with quite a number of subsidiaries.

The process actually doubled our number of subsidiaries. And a lot of these subsidiaries don’t have much in them. So we are going to rationalise most of them going forward. But if you look at our group structure, there are not many subsidiaries.

Your company repaid a $100 million revolving loan facility last year. Did the repayment eat into your cash position?

The whole concept of the revolving loan is to revolve, it is not meant to be sitting idle. Ideally, what you really want to be doing is draw down, utilise the money and then pay back. You have to look at the balance between how much cash you hold and how much debt you owe. What you do not want to be doing is hold a lot of cash and having debt outstanding because it is not efficient. The debt costs you a lot more.

So, what we need to do is balance it. We say, “How much cash do we need in case there is an event that we need to draw that cash, and how much can we pay down those revolvers?

That was what we do. Back in 2018, we put in place a five-year $350 million Eurobond, and then we put in place a similar sort of revolving credit facility. This year in the first quarter, we had to then refinance that. We put a $650 million

Brown bond in place with the intention of paying down that revolver this year. And that is what we have done as a business. That is a much more efficient way of doing it. The sizing of the bond that we raised, which is a five-year Eurobond, is important because a previous-year bond had 9.5 per cent coupon on it. This year’s bond has a coupon of 7.75 per cent. So, it is a material reduction in borrowing cost, and as a business, we are rated the same as the Nigerian sovereign.

We are rated by three rating agencies, and I don’t think many Nigerian companies are rated by all those agencies and have a sovereign-proven rating. We will draw down on the revolving credit facility when we need to. We are sitting on a very strong cash position, well over $200 million. So, it is a balance between all of those as we look to utilise our balance sheet for growth.

Many operators suspended projects last year as a result of low oil prices. Seplat, according to its financial statements, drilled and completed nine wells and brought eight on stream last year. What did your company do differently to achieve that?

We drilled most of the wells in the first quarter of last year. So, we continued to complete them.

Anything we were committed to doing, we did.

Anything we could cut back on, we did that – that’s the strength of our business. Last year, we really cut back the capital expenditure (capex)

We remain confident that our ongoing costcutting initiatives and prudent management of cash will enable further reductions in debt, whilst supporting dividend payments and investment for growth

and then we increased it towards the end of the year. So, that flexibility of capex deployment in drilling is very critical. The company’s capex in the 2020 business year was higher than the $125 million spent in 2019, which demonstrates the company’s commitment to growth.

What is your outlook for 2021 with respect to oil prices?

In terms of guidance this year, we don’t guide on oil price obviously. Oil prices are coming back. We are cautiously optimistic about oil price. It has reached up to $65-$70 per barrel but we remember when it was $10. So, we set our budget at $50-$55. The oil price was hedged.

With the hedging programme, we have 65 per cent of our production hedged as a downside protection. But in terms of guidance, we guide on production and capex. For 2021, we expect to produce an average of 48,000 to 55,000 barrels of oil equivalent per day, taking into account the impact of OPEC+ quotas to hedge against oil price volatility and expect a higher proportion of revenues to come from long-term gas contracts at stable prices. We have significant cash resources and will continue to manage our finances prudently in 2021, expecting to invest $150 million of capital expenditure across the full year, with nearly $33 million already invested. We remain confident that our ongoing cost-cutting initiatives and prudent management of cash will enable further reductions in debt, whilst supporting dividend payments and investment for growth.

Although oil price has increased in recent months, many indigenous oil and gas companies are still struggling. How has Seplat fared so far this year?

We have made a progressive start to the year, delivering oil and gas production volumes of 48,239 boepd, within our guidance range. With the Gbetiokun field at OML 40 now back in production, we are currently achieving average daily volumes of nearly 54,000 boepd so far in April and we will build on this as we add additional oil and gas wells this year. Our flagship ANOH gas project is proceeding as planned and was fully funded in February when our joint venture company, ANOH Gas Processing Company successfully raised $260 million of

debt financing. Following its successful funding, the completion of the project remains a major priority. In addition, the success of our $650 million Eurobond issuance in March demonstrates investor confidence in our prudent financial management and the exciting future ahead for the company and its stakeholders. As we drive forward our strategy of being a low-cost energy provider delivering reliable, affordable and sustainable energy to the young, fast-growing population of Nigeria, energy transition – which delivers on Nigeria’s social development goals in tandem with the climate agenda – is essential. This is the backbone of Seplat’s strategy and we will be communicating how we plan to achieve this over the coming months. To that end, the board took the decision to change our name to Seplat Energy Plc, which more adequately reflects our ambitions of providing a broader energy mix. Having proved our resilience again, and in the most challenging and unprecedented environment we have ever experienced, I am confident that Seplat will build on its strong foundations to become a larger, more diverse, and more sustainable energy company in the years to come. Given Nigeria’s need to improve access to energy and the potential for significant market growth, we are very well positioned to consolidate and strengthen as Nigeria’s energy champion. Gas is the lower-carbon feedstock for affordable electricity for Nigeria’s young and rapidly-growing population. Seplat is leading Nigeria’s transition away from spending scarce foreign currency on imported, expensive, highemission diesel-generated electricity and we believe this will provide the necessary base-load for a functioning electricity grid that will allow renewable energy to take its place, as we see in the developed world, which in large parts is still fuelled by coal. The energy transition in Nigeria must balance both the environmental and the social agenda. I believe that the move to change our brand to Seplat Energy Plc reflects our intention to be at the forefront of Nigeria’s energy transition in the next decade of our journey. We will continue to build value for our shareholders, either through organic growth or through carefully selected acquisitions that will deliver the scale or expertise we will need in the coming years.

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Fisher: Digital Financial Services Coca-Cola Wins Social Impact Award Critical for Inclusive Recovery Raheem Akingbolu

The Chief Investment Officer at Accion, and Chairman of the Board of Accion Microfinance Bank in Nigeria, Mr. John Fischer, in this interview speaks about how financial institutions can aide growth post-covid, plans of his organisation and other pertinent industry issues.

Nume Ekeghe presents the excerpts What is Accion’s most noteworthy strategic goals in supporting businesses globally?

While the end of the COVID-19 pandemic is in sight for some people in wealthier countries, many communities around the world are currently facing the worst of the crisis. Digital financial services have a critical role to play in fostering an inclusive recovery — helping small businesses stay open, community pharmacies remain stocked, and families access safe places to save and borrow money. Accion is working to ensure that low-income families and small businesses who are most affected by the crisis have access to the financial tools they need to survive, begin to recover, and establish their financial resilience for the future.

Where are the potential areas of growth/ opportunity in the Nigerian economy and how is Accion international supporting Accion MFB and businesses to harness these opportunities?

The pandemic has dramatically accelerated the shift to digital around the world. A recent report from GSMA revealed, for example, that mobile money accounts globally grew by 13 percent in 2020, to reach a total of more than 1.2 billion. As more businesses and transactions move online, this opens doors to security and growth for those who have long relied on cash and in-person transactions to conduct business and manage daily life. Accion is ramping up efforts to help our partners leverage new digital technologies to support vulnerable families and small businesses and help them build financial resilience. Through our investments, advisory services, research, and a first-of-its kind partnership with Mastercard, we are helping microfinance institutions (MFIs) like Accion Microfinance Bank leverage digital technologies to reach more clients and serve their clients more effectively. These institutions already reach millions of low-income clients in emerging markets around the world, but many are built on high-touch, face-to-face models designed decades ago. By helping MFIs go digital, we can help their clients do the same, and access the tools and skills they need to transition away from using cash and start to access the security and opportunities of the digital economy. More broadly, we also continue to support fintech startups around the world that are finding new ways to meet the needs of financially underserved people.

In your opinion, what are the significant global financial and economic changes that are set to happen over the next one to three years and how is Accion International supporting partners globally to position for this?

While the pandemic recovery accelerates in wealthier countries, many low-income families and small businesses in emerging markets are still coping with the worst effects of the global pandemic. Their road to recovery is more challenging and fraught than anyone else’s. According to the World Bank, more than 100 million people have been pushed into poverty due to COVID-19, and the IMF’s World Economic Outlook shows that while global GDP is projected to grow 6 percent in 2021, many emerging markets are not expected to return to their pre-pandemic levels until 2023.

To help our partners weather the crisis, we’ve provided capital, extensive advisory support, and opportunities for leaders to share learnings across institutions. We’ve helped them provide flexibility and forbearance for their clients to give them the time and resources they need to rebuild their businesses. We’ve helped them design and launch new digital tools, and better collect and analyse data to understand and

Fischer answer their clients’ specific needs.

How important is good governance in driving financial and social inclusion?

It’s important that financial service providers prioritise their clients’ needs and protect their clients’ interests, and that’s what Accion seeks to ensure through active board governance with our partners. It’s one of the primary ways we support our partners’ efforts to reach underserved populations, and it’s the reason that I serve as Chairman of the Board at Accion Microfinance Bank. Responsible governance can help institutions grow sustainably by building financial products that answer clients’ specific needs and help them build their financial health.

Accion Microfinance Bank is a great example of how strong leadership and a client-centered approach can drive impact. The bank put moratoria in place early in the pandemic to ease the burden on their customers, provided an interest rate discount, and invested in new tools and systems that are helping small businesses and families get the funding they need to weather the crisis.

How is Accion’s partnership with Mastercard supporting the drive for financial inclusion and access to digital financial service?

In 2018, Mastercard and Accion launched a groundbreaking partnership to help millions of people and merchants participate in, and benefit from, the digital economy. We started this work before the pandemic, and we had no way of knowing just how urgent it would become due to COVID-19. Through the partnership, we are guiding and supporting the digital transformation efforts of financial service providers around the world—helping them develop and adopt digital tools to serve more small businesses more effectively, and drive the digital transformation of millions of microbusinesses that have traditionally relied on cash. While we have partnered with Accion Microfinance Bank for many years, Accion’s partnership with Mastercard enabled us to expand this work in new ways. Through the partnership, we are helping Accion Microfinance Bank build a digital microfinance bank that complements the bank’s standard operations.

This work involves the launch of new digital financial products that will allow customers to apply for credit, get approved, and receive funds remotely, efficiently and quickly using digital tools and channels. Accion Microfinance Bank has taken a flexible and multifaceted approach to support their clients who are coping with unprecedented challenges due to the pandemic. The incorporation of new digital tools is critical to these efforts.

Coca-Cola Nigeria has emerged winner of the “Best Company in Outstanding Social Impact” award at the 2nd edition of the Lagos State Waste Forum organised by SWEEP foundation, which was held recently.

The symposium themed, “Green Financing and the Future of the Circular Economy,” was dedicated to spotlighting the latent opportunities in the public and private waste management sector which can be used as a transformative tool for national development. Presenting the “Best Company in Outstanding Social Impact” award to Coca-Cola Nigeria was the Permanent Secretary, Ministry of Environment and Water Resources, Aderonke Odeneye, who spoke on the new Lagos Plastic Policy during her keynote address. She noted that the Lagos State Government is working on a policy for plastic utility to ensure sustainable management of plastic across the State.

“The new plastic waste policy championed by the Lagos State Government when finalised will promote sustainable plastic waste management across the state.

Plastic waste management is fundamental to the delivery of the State Government’s priority transformational agenda as laid down in the Lagos State Development Plan (LSDP) as it is a resource that can be managed to achieve economic, social and environmental benefits,” she said.

Director, Public Affairs, Communications and Sustainability, Coca-Cola Nigeria, Nwamaka Onyemelukwe, in her keynote address reaffirmed the company’s commitment to supporting environmental protection and sustainability through its World Without Waste initiative. She said, “The world has a packaging waste problem and our World Without Waste vision seeks to help solve this.

At Coca-Cola, we believe a litter-free world is possible and we want to help lead

the way.

Alongside the prevention and recycling of waste, an important pillar of our waste management approach is treating waste as a valuable resource.

“Through our World Without Waste initiative, we hope to make the recycling of waste more accessible to achieve 100 per cent collection and recycling by 2030.”

Also speaking at the forum on the role of corporate organisations in ensuring a circular economy, Special Assistant on Environment to the Governor of Ogun State, Ola Oresanya, lauded Coca-Cola as one of the propellers of the circular economy model in Nigeria.

He said, “Coca-Cola was one of the foremost companies that started the circular economy model.

They were the first players to recognise the importance of green financing as a catalyst in resolving the challenges the Nigerian environmental sector is facing.”

EIB Seeks Partnership with Africa The European Investment Bank (EIB) has released its vision for working with Africa and a set of expert ideas about the future of development.

This was contained in two new publications formally launched by EIB’s President Werner Hoyer and Vice President Thomas Östros, ahead of the European Development Days.

According to a statement, the first publication, ‘A Partnership with Africa: How the European Investment Bank,’ delivers on EU policies in Africa, “and our future plans for development and partnership across the continent, lays out plans by the EU bank for greater impact in its projects in Africa.”

The second, ‘Global Solutions, International Partnerships: The European Investment Bank Development Report 2021,’ “is built around expert essays that provide new

ideas to answer today’s global development challenges. It is the first time the world’s biggest multilateral financial institution has published a vision for its African deals or a comprehensive report on its €10 billion annual development lending.”

The European Investment Bank is one of the largest providers of climate finance in the world and has committed to support €1 trillion in climate and environmental investment over the next decade.

The EU bank also works with African partners in innovation, small and medium-sized enterprises and infrastructure. Last year, the EIB signed €5 billion in loans in Africa.

The EIB is the only multilateral finance institution exclusively owned by the EU and works closely with other

EU institutions to support EU policies in over 140 countries around the world.

The bank is a key part of the EU toolbox that for decades has helped make the partnership between Africa and Europe stronger. It aims to maximise the impact of every investment, so that it can join its African partners in addressing today’s critical challenges together and embrace the opportunities presented by the continent’s economic transformation.

“A Partnership with Africa lays out the EIB’s track record in Africa and illustrates how the EIB believes it can deliver better in the years ahead. It is an account of a solid partnership between the European Commission and the EIB, as well as with the full range of European and international development finance institutions and other stakeholders,” it added.

Group Partners Mastercard Foundation, USADF to Train 1000 Entrepreneurs As part of the Entrepreneur Support Program (ESP), launched in December 2020, the Nourishing Africa in partnership with Mastercard Foundation and United States African Development Foundation (USADF) has completed a 12-day virtual training for 1000 young grassroots entrepreneurs.

Titled “Agribusiness Entrepreneur Development”, the seminar comprised intensive daily training sessions between March 25 and April 13, 2021, and held across 11 states in Nigeria, a statement explained.

It provided participants the opportunity to acquire practical knowledge, skills, and insights to enable them to retool, rebuild and strengthen their business models while also withstanding future shocks,

and driving sustainable growth in the landscape.

Facilitated by 36 industry experts and thought-leaders in the entrepreneurship, business, agriculture and food landscapes in Nigeria and across the globe, the seminar leveraged various teaching methods to engage the participants, including hands-on practical sessions, lectures, class discussions, panel discussion, Question and Answer sessions, and breakout sessions.

Some of the topics discussed at various sessions of the event include cross-examining the Nigerian food and agriculture landscapes, demand-driven business models, an introduction to value chain analysis, leveraging technology and

innovation, maximizing branding, marketing and communication; financing your agribusiness, shaping your ecosystem among others.

At the seminar, the participants expressed satisfaction on the quality of knowledge gleaned at the various sessions stressing that they are excited to share key learnings and impacts of the training on their agribusinesses on social media.

Meanwhile, Nourishing Africa has promised to make the curriculum widely available both as an e-learning tool to other African entrepreneurs and modules into the existing academic curriculum to equip the youth with the requisite skills and knowledge to build sustainable businesses on the continent.

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BUSINESSWORLD

NEWS

Lalong Restates Commitment to Creating Enabling Environment for Investors Seriki Adinoyi in Jos Plateau State Governor, Simon Lalong has restated his commitment to creating an enabling environment for investors to take advantage of the relative peace now being enjoyed in the state to invest in order to boost the economy of the state.

He said, “We would continue to provide an enabling environment for investors and private businesses to thrive in the state.”

Lalong stated this in Jos at the official inauguration of Crispan Hotel, a facility with 100 rooms and suites, over 1,000 car parking space, Olympic sized swimming pool,

and two banquet halls.

The Governor said, “We shall continue to do our best in consolidating on the gains we have achieved so far in rescuing Plateau from many of the challenges we inherited.”

He promised to support and promote programmes that would improve the quality of life and deliver the dividends

of democracy to the people of the state, calling on citizens to be their brothers’ keepers.

He said the vision of his government in promoting sustainable economic growth was hinged on the role that the business community plays in empowering the people economically.

Speaking earlier, the Chief

Executive Officer of Crispan Suites and Event Center, located in the heart of Jos, Chief Patrick Azichoba lauded the Governor for his efforts at restoring peace to the state.

He said, “Lalong has brought development to the state; his peace building efforts is a model.”

Describing Lalong as a

detribalised leader who loves Nigeria, Azichoba promised to employ more Plateau natives in the hotel as a way of creating jobs for the citizens of the state.

Noting that the greatest tourism asset of Plateau is perhaps the people, Azichoba vowed to take hospitality to a new level in the state.

Great Nigeria Insurance Grows Annuity Portfolio by 800 % in Q1 Ebere Nwoji Great Nigeria Insurance Plc said has it recorded an impressive performance in its annuity business, recording growth to over N4.7 billion in first quarter 2021, significantly higher than the N52.5 million recorded during the same period in 2020.

Addressing the media team at the company’s head office in Lagos, the Corporate Communications and Brand Manager, Oyinkansola Sobande, said retirement should be the time to live that stress-free life after years of active engagement and not a time of financial difficulties.

She said annuity sets out to protect the future of retiree through guaranteed income for as long as they live.

Oyinkansola further noted that Annuity for Life Policy is a retirement instrument option for retiring employees, adding that it is a contract that provides, in return for a Lump sum, a monthly or quarterly payment starting immediately after retirement and continuing for the rest of the retiree’s life.

“The contract is often purchased by retiring persons who want income that is guaranteed to last for the rest of their lives, no matter how long that might be,” she added.

The Managing Director/CEO, of the company, Mrs. Cecilia

Osipitan explained that life annuity is a stream of periodic payments that commences at a specified date, which is either the normal retirement age or at 50 in the case of early retirement. This payment, she said, could either be monthly or quarterly depending on the retiree’s preference.

According to her, the benefits include the continuous flow of regular income for the retiree, insulation from the risks associated with the investment of lump sum benefits, structured management of resources and the transference of the risk of diminution in assets and possible failure of investments of retirees to insurance companies which are better equipped to manage such risks.

In her words, “Insurance remains the most reliable bedrock of our existence and cultivating the culture of insurance can never be over emphasised.”

She said there was a need to call for a paradigm shift through effective sensitisation of the insuring public, adding that it is very important to imbibe the culture of getting appropriate insurance cover to protect our assets and lives in case of any eventuality.

“The path through achieving growth and sustaining same is not without its challenges but with the perseverance and doggedness of every member of staff, success is guaranteed,” she added.

Leadway Assurance Partners APPSS on Education Plan Ebere Nwoji Leadway Assurance Company Limited has gone into partnership with the Association of Parents of Private School Students (APPSS) to launch an education insurance policy plan tagged the ‘Group Education Protection Plan (GEPP)’.

The bespoke education plan, which was launched at the Children’s Day event hosted in Port Harcourt, was designed to help parents protect their children’s future from possible socio-economic disruption in schooling due to unplanned or unforeseen events, such as the death of a parent or guardian, life- threatening critical illness, total and permanent disability resulting from personal accidents.

With the partnership, the parents were guaranteed the fulfilment of bequeathing to their children quality and

life-defining education, no matter what life throws at them.

In the contract, the unique alliance mandated Leadway Assurance to assume the payment of the children’s fees for the agreed remaining school terms from the point the sponsoring parent or guardian dies or contracts a critical illness or disability.

Speaking on the initiative, Head of Life Retail, Leadway Assurance, Bolorunduro Saliu said: “This policy reflects the organisation’s proactive steps towards mitigating the risk parents face in failing to achieve their dream of bequeathing quality education to their children due to circumstances that are beyond their control, especially death or permanent disability.

“We are pleased to work with a forward-looking association that is keen to proactively take smart financial decisions for their children’s assured future.

StanbicIBTC Bank Named‘BestSub-CustodianBank’ Stanbic IBTC Bank Plc said it emerged ‘Best Sub-Custodian Bank in Nigeria’ at the 2021 edition of the Global Finance Best Sub-Custodian Bank Awards, for the tenth year in a row. The Global Finance Best Sub-Custodian Bank Awards is organised by the Global Finance Magazine and recognises banks that provided astounding services in customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans, and knowledge of local regulations and practices. The winners of this year’s edition, the 19th

in the series, were announced recently.

A statement explained that the awards’ editorial board considered market research, input from expert sources and entries from banks as criteria for selecting banking institutions across seven global regions and more than 80 countries providing reliable services in local markets and regions.

While expressing his delight at the announcement, the Chief Executive, Stanbic IBTC Bank, Wole Adeniyi, said the award once again placed Stanbic IBTC Bank on a pedestal of excellence as a foremost financial services

provider in Nigeria.

He said, “We are excited that Stanbic IBTC Bank PLC has been recognised as the best Sub-Custodial Services Provider in Nigeria for the tenth consecutive year. We attribute this award and esteemed recognition to the hard work and dedication of our team in carrying out custodial services; our ever-evolving technological innovation in service delivery; and our passion for client satisfaction. We will not relent in giving our absolute best at all times.”

Also, the Chief Executive of Stanbic IBTC Nominees, Babatunde Majiyagbe, com-

mented on the award, describing the recognition as an indication of the organisation’s commitment, client centricity and exceptional track record as the ideal partner for investor services in Nigeria.

“The criteria for this recognition show we are on the right path as we continually seek ways to provide the best-in-class service to our clients despite current global challenges.

Client-focus and digitisation remain key drivers for business success, and we will continue to provide value because we are committed to making progress real”, Majiyagbe added.

NG Clearing Limited Gets SEC’s Approval to Operate Goddy Egene The Securities and Exchange Commission (SEC) has granted NG Clearing Limited (NG Clearing) registration to perform the function of a central counterparty (CCP) with effect from June 7, 2021. This registration now permits NG Clearing to clear and settle exchange traded derivative products – making NG Clearing the first CCP in Nigeria.

Speaking on the issuance of the licence, the Chairman of NG Clearing, Mr. Oscar Onyema, said: “NG Clearing will deliver an unparalleled CCP experience for the Nigerian financial and capital marketsand will optimize

the deployment of its resources to achieve long-term value creation for its stakeholders using a state-of-the-art risk management framework, which complies with global best practices for mitigating settlement risk.”

He added that the company’s main role is to improve the soundness and safety of the Nigerian financial market by delivering best-in-class posttrade services that manage counterparty credit risk and reduce systemic risk byinterposing itself as a guarantor to both parties in a transaction, thus ensuring the successful execution of derivatives and other trades from various trade

points in Nigeria.

Also commenting, the Managing Director of NG Clearing, Mr. Tapas Das said: “NG Clearing shall be playing a key role in the financial market ecosystem in the region, upholding stability and safety of the marketplace, through efficient and timely settlement of derivative trades.

The aim is to strengthen the country’s investment environment through solutions that systematically reduce risks, enhance operating efficiency, and minimize costs for all market participants, thereby serving as a catalyst to national development.”

According to Das, the

company has sufficient financial resources, including settlement guarantee fund, to cover participants’ risk exposures.

He noted that members will have access to a wide range of financial reports that equip them with extensive knowledge and enable them make informed decisions, as well as access to NG Clearing’s bespoke clearing and settlement software application which will support the clearing and settlement of derivative instruments across various asset classes i.e., futures and options contracts on indices, equity shares, commodities, currency, rates etc.

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BUSINESSWORLD

PERSPECTIVE

Political Economy of Trade Facilitation in Nigeria Chukwuemeka Uwanaka The phrase, ‘‘he who controls the trade, controls the world economy’’, has till this day remained true. The international trading position of every country determines to a large extent, the economic and political strength of every country. Political and economic strength is as such normally displayed in trading patterns.

Countries therefore aspire to have positive balance of trade terms, as a measure of their development objectives. Achieving such noble economic and political objectives require trade facilitation- which means that interested countries plan and implement policies and measures that make it easier for trading activities; especially trade across borders, to be as effective and efficient as possible. The World Trade Organization (WTO) defines trade facilitation as “the simplification, modernisation and harmonisation of export and import processes”.

The WTO members, of which Nigeria is a part, concluded negotiations at the 2013 Bali Ministerial Conference on a landmark Trade Facilitation Agreement (TFA), which entered into force on 22nd February 2017 following its ratification by twothirds of the WTO membership. The TFA contains provisions for expediting the movement, release and clearance of goods, including goods in transit.

The agreement also sets out procedures that enable cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues. Provisions for technical assistance and capacity building in this area, as also contained in the TFA. Nigeria ratified the TFA on the 16th of January 2017, as a Category A country. Despite this ambitious effort, Nigeria has been unable to successfully implement the provisions of the TFA, even as the country can gain up to US$170 billion in 20 years from new trade flows, if trade facilitation is promoted and implemented.

The National Single Window, which represents the key trade facilitation project has been stalled, and Nigeria ranks 179 out of 191 countries on the ‘trading across borders’ sub-index of the World Bank Ease of Doing Business Index, which is the main index for measuring trade facilitation. It takes an average of 128 hours to export in Nigeria when measured for border compliance hours, as against 83 hours in Rwanda and 45 hours in neighbouring landlocked Niger Republic. The 179 out of 191 countries ranking, when compared to the 131 out of 191 countries rank on the general Ease of Doing Business Index, demonstrates the heightened challenges with cross border trade in Nigeria.

Nigeria’s socio-economic indices show that the country urgently requires all the economic leverage it can access. Unemployment stands at 33.3 percent, while inflation rate is 18.17 percent. The country has a public debt of US$75.6 billion, and external debt has risen from US$10.316 billion in May 2015 to US$33.3 billion in December 2020. Nigeria has a poverty rate of 40 per cent and is also the third most terrorised country in the world.

Trade Facilitation by informed estimates, holds enormous potential for Nigeria. They include US$170 billion in 20 years from new trade flows, maximisation of the US$3.4 trillion single market potentials that come with the African Continental Free Trade Agreement (AfCFTA); the US$100 billion expected earnings from 22 major non-oil products over the next 10 years, and 500,000 additional jobs annually as part of the Zero Oil Plan (ZOP) by the Nigeria Export Promotion Council; and also the harnessing of the Special Economic Zones and Export Processing Zones designed to boost the country’s industrial activities.

Other benefits to be derived by Nigeria from trade facilitation include preferential access to the US market under the African Growth and Opportunity Act (AGOA) of which the cotton-textile-apparel segment alone is worth US$100 billion; and enhanced economic complexity and the attendant economic stability for the country. As the economic situation of a country correlates with its political stability, trade facilitation can therefore provide a lot of panacea to some of Nigeria’s pressing political and social problems.

Given these benefits that can accrue to her, what then can be done to improve trade facilitation in Nigeria? To answer this question, an attempt will be made to review current efforts geared towards trade facilitation in Nigeria.

Nigeria established an inter-ministerial committee on domestic trade and multilateral trade matters in 2002, named the Enlarged National Focal Point (ENFP).

The ENFP was designed to evaluate and monitor the performance of Nigeria’s trade policy. Within the ENFP, a sub-committee on Trade Facilitation was formed, with the responsibility of coordinating activities for the WTO Trade Facilitation Negotiations and issues of encumbrances in domestic trade. During the meetings of the WTO Negotiating Group on Trade Facilitation (NGTF) in 2009, a proposal for the legal text for what today constitutes Article 23.2 of the WTO Trade Facilitation Agreement (TFA), called for the establishment of a National Committee on Trade Facilitation to be established by Members.

The ENFP Sub-Committee on Trade Facilitation as a result, sought for approval of the Minister of Trade to form such a committee. Hence the formation of the National Task Force Committee on Trade Facilitation, with the objective of facilitating both domestic coordination and implementation of the

Adedayo

provisions of the WTO’s TFA, once adopted by Members of the WTO. In 2010, the National Task Force Committee on TF was established and is chaired by the Federal Ministry of Industry, Trade and Investment (FMITI), while the Nigeria Customs Service is the Vice-chair.

The FMITI serves as the Secretariat and the Committee reports to the Minister of Trade through the Permanent Secretary. In March 2014, after the conclusion of the TFA in 2013, the Minister of Trade decided to re-inaugurate the Task Force Committee on Trade Facilitation and gave it a 100 days mandate to look into its activities, vis-à-vis the TFA, evaluate achievements, harvest the low hanging fruits and plan further implementation of the TFA. The membership of the Committee was reviewed down from 26 to 21, with the removal of agencies whose functions were similar to others on the Committee. After the 100 days ultimatum for feedback to the Minister, the Committee was able to determine the Category A commitments under the TFA to be notified to the WTO. The Task Force is now known as the National Committee on Trade Facilitation (NCTF).

The NCTF is made up of FMITI (Chair), Nigeria Customs Service (NCS) (Vice-Chair), Ministry of Finance, Ministry of Transport, Central Bank of Nigeria, Nigerian Ports Authority (NPA), Federal Airports Authority of Nigeria, Nigeria Shippers Council (NSC) and Nigeria Maritime Administration & Safety Agency (NIMASA). Others are National Agency for Food, Drugs, Administration & Control (NAFDAC), Standards Organization of Nigeria (SON), Nigeria Export Promotion Council, Nigeria Export Import Bank, Nigeria Agricultural Quarantine Service, Nigeria Immigration Service, Nigeria Police Force and Federal Roads Safety Commission.

From the private sector are Manufacturers Association of Nigeria, Association of Chambers of Commerce, Industry, Mines & Agriculture, National Association of Nigerian Traders and National Association of Clearing & Forwarding Agents.

It is fair to say the activities of the NCTF have not translated into better trade facilitation. Many participants do not have decision making abilities,

which defeat the aims of committee meetings.

The establishment of the Presidential Enabling Business Environment Council (PEBEC) in 2016, has led to some increase in the ease of Nigeria’s business environment, improving from 169 out of 190 in 2016 to 131 out of 191 in 2020.

The trading across borders sub-index earlier mentioned shows that the trade facilitation part of the business environment remains largely unresolved.

There is also the introduction of the ‘ETO’ software application by the NPA in collaboration with the Lagos state government to improve ease of international trade, especially at the Lagos ports. This has not yielded the desired results, and the complaints by NPA suggest it is the lack of cooperation by another leading government agency, that is responsible for the inefficient state of international trade at the Lagos ports.

The Nigeria Port Process Manual (NPPM) launched in December 2020 by Vice President Yemi Osinbajo, is among the latest government efforts to improve trade facilitation in Nigeria. With NSC as lead, the NPPM requires collaboration with NPA, NIMASA and NCS. Curiously, there is no primary role given to the FMITI. There is also the US$3.1 billion Nigeria Customs Automation Project (e-Customs project), which is different from a proper National Single Window (NSW) and aims to enhance trade facilitation, but does not involve FMITI. Despite government efforts, as well as support from development partners such as World Bank with the Trade Facilitation Support Program (TFSP), WTO, Foreign and Commonwealth Development Office (FCDO), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) with Promoting Trade in West Africa II (WATIP II) for Nigeria and ECOWAS, what may therefore have been lacking, is the political economy or ‘power grid’ perspective to trade facilitation in Nigeria. Political economy may then be defined as an examination of how political forces influence policies and decision making.

This political economy perspective becomes more obvious when assessing some of the previous significant efforts that largely improved cross border trade in Nigeria. In 2011, the then Minister of Finance who had ‘coordinating powers’ as

Coordinating Minster of the Economy, was able to reduce the number of agencies at the ports from 14 to 6. Despite push backs and protests by different interests, the decision remained, due in large parts to the political will and coordinating responsibility.

The decision may also account for Nigeria becoming the leading investment destination in Africa within the period of that administration, according to the United Nations Conference on Trade and Development (UNCTAD). It can therefore be strongly argued that statutorily providing FMITI with the political will and stronger coordinating capacities for all relevant agencies, are key for achieving enhanced trade facilitation in Nigeria.

For those who may question the possibility of such political changes, given established and entrenched interests, the fact remains that political will can make it succeed.

The NCS was once an agency of FMITI, before being moved to the Federal Ministry of Finance. In contemporary times, the Nigeria Identity Management Commission (NIMC) has been moved from the Presidency to Federal Ministry of Communications and Digital Economy, under the current administration, for effectiveness in delivery of digital economy objectives.

Prior to that in September 2019, the Niger Delta Development Commission (NDDC) was redeployed from the Office of the Secretary to the Government of the Federation, to the Ministry of Niger Delta Affairs. In the same year, a new Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development was created, and established agencies such as Nigeria Emergency Management Agency (NEMA), as well as Social Intervention Programmes previously under the Office of the Vice President, were redeployed to the new ministry.

As 21 out of the 36 states of Nigeria have either land or sea borders, or both, this political economy approach will also be more sustainable if cascaded to the sub-national level. The National Economic Council (NEC) that is chaired by the Vice President and comprises the 36 state governors, and the Nigeria Governors Forum, can adopt an approach to improving infrastructure investment in rural areas, where land borders are usually located. The political and media pressures that come with liberal democracy means that infrastructure is usually concentrated at state capitals and major towns where they are more visible, at the expense of rural areas where borders are located and cross border trade takes place. The State commissioners and ministries of commerce or trade under this approach become the trade facilitation anchor agencies and leads, at the sub-national level.

This approach will enable states less known for international trade such as Kwara, Benue and Oyo to derive better and inclusive economic development. With this, these states in Nigeria can export processed food and other products to other parts of the continent as a means of valuable non-oil income.

It also makes it easier for more states to join league of Foreign Direct Investment earners, as businesses interested in export to Benin Republic (US$14.39 billion GDP), Cameroon (US$39.01 billion GDP), Niger Republic (US$12.91 billion GDP) and Chad (US$11.31 billion GDP), can have these states as manufacturing and operating locations.

There is always a role for technology in such propositions, for effectiveness and efficiency. A portal and information system will be developed, where registered businesses involved in cross border trade can digitally log their complaints.

These complaints are then received and addressed by help desks and officials comprising relevant agencies as well as compliance officials across the states, in real time. This portal will also support FMITI in real time management and implementation of trade facilitation across the country.

These proposed sub-national trade facilitation efforts can be periodically assessed by the National Bureau of Statistics, which will conduct and publish surveys on border trade across states, using a methodology that allows for lessons to be learnt and improvements made. Gender will be one of the components of the methodology, as a means of enhancing inclusive growth.

Better understanding of the political economy of trade facilitation, and providing the Federal Ministry of Industry, Trade & Investment with statutory coordination powers for all trade facilitation agencies, with cascading elements at sub-national levels, are required for sustainably enhancing trade facilitation in Nigeria. t6XBOBLB XSJUFT UISPVHI DIVLXFLT! ZBIPP DPN

WEDNESDAY JUNE 16, 2021 • T H I S D AY

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T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

Executive Director, Academics, Africa Federation of Teaching Regulatory Authorities, Prof. Steve Nwokeocha (left) and Vice-Chancellor, University of Calabar, Prof. Florence Obi during the presentation of Distinguished Fellowship Teacher Award to the Vice Chancellor in Calabar..recently

R-L: President, Nigerian Medical Association (NMA), Prof. Innocent Ujah; National Coordinator, National Blood Transfusion Services (NBTS), Dr Omale Amedu and Representative of the Minister of Health, Dr Ngozi Onwudiwe, during a press briefing on the commemoration of the 2021 World Blood Donor Day in Abuja…recently

L-R: President, Omo Ajorosun Club, Ibadan, Prince Ismail Bioku; Oyo State Chairman of Association of Nigerian Authors, Biola Layonu; Convener of the Lecture, Chief Lekan Alabi; and Ekefa Balogun Mayegun of Ibadan land, Chief Bayo Oladejo, at a June 12/Democracy Day Lecture in Ibadan…recently

L-R: Amara of Ilara-Epe, Oba Olufolarin Ogunsanwo; Gov. Babajide Sanwo-Olu of Lagos State his Deputy, Dr Obafemi Hamzat; Oloja of Epe, Oba Kamorudeen Animasahun; and a member representing Epe Federal Constituency, Mr Wale Raji, during the inauguration of 110-Bed Maternal and Child Centre at Epe General Hospital in Lagos…recently

L-R: Member, representing Jos South -Jos East Federal Constituency, Dachung Bagos; Special Guest of Honour, Yakubu Jang; Senator, representing Plateau North, Istifanus Gyang and other guests during the inauguration of Dachung Bagos Constituency Road projects in Chugwi village, Jos South LGA, Plateau State.. recently

L-R: Brand Development Manager, Premier Cool, PZ Cussons Plc. Eniola Ogunlade; Reality TV Star, Elozonam Ogbolu; Nollywood Actor, Deyemi Okanlawon and Head of Category – Personal Hygiene, PZ Cussons Plc, Kemi Longe, at the official signing of the Premier Cool Brand Ambassadors in Lagos...recently PHOTO: SUNDAY ADIGUN

L-R: Chief Customer Officer, MultiChoice Nigeria, Martin Mabutho, UFC Welterweight champion, Kamaru Usman, and Africa Manager for Kamaru Usman, Fela Oke at a press conference for Usman’s homecoming in Lagos...recently

L-R: Member of Majeobaje Movement, Mr Kunle Famoriyo; Representative DAWN Commission, Mr Olawole Oladeji; and the convener, Chief Akintayo Akin-Deko, at the Majeobaje Movement roundtable conference on security awareness in the Southwest, in Ibadan...recently

WEDNESDAY JUNE 16, 2021 • T H I S D AY

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EDUCATION Day of the African Child: Making Nigeria Fit for Children As Nigeria today joins the rest of Africa to mark this year’s International Day of the African Child with the theme ‘30 Years after the Adoption of the Charter: Accelerate the Implementation of Agenda 2040 for an Africa Fit for Children’, Uchechukwu Nnaike highlights the factors making Nigeria unfit for children

J

une 16 every year, the International Day of the African Child (DAC) affords Africans the opportunity to reflect on the education system in the continent and ways of improving the sector to provide quality education for children.

The day originated in Soweto, South Africa on June 16, 1976, when more than 10,000 black children protested the poor quality of education in their country. The children walked in a column for more than a mile as they also demanded to be taught in their own language that they could easily understand.

Hundreds of students were massacred during the protests, and thousands more were injured. Pictures of the incident were released worldwide and many organisations protested against the killings and the inequality in the apartheid regime. Many nations started commemorating that day every year in honour of the victims.

However, it was not until June 1991 that the Organisation of African Unity (OAU), now African Union (AU) designated June 16 as a day to honour those who participated and lost their lives in the Soweto uprising. The day was given the name International Day of the African Child to raise awareness of the need to improve the quality of education in African schools.

The day is commemorated every year with a unique theme to create awareness on the need to ensure the welfare of the African child.

The African Committee of Experts on the Rights and Welfare of the Child (Committee), established under Articles 32 and 33 of the African Charter on the Rights and Welfare of the Child (the Charter) selected this year’s theme for the commemoration of the DAC. The African Committee recognises the importance of the DAC as an advocacy tool for enhancing the visibility of the Charter as well as promoting children’s rights and welfare issues. The (DAC) is one of the standing promotional activities of the committee.

In 2016, the African Committee adopted ‘Agenda 2040: Fostering an Africa fit for children’- a 25-year agenda for the long-term and strategic progress in implementing children’s rights in Africa. Agenda 2040 provides a childcentered focus based on the African Union’s Agenda 2063, which highlights children’s rights and welfare concerns in Paragraph 53. In brief, Agenda 2063 envisions an integrated, prosperous and peaceful Africa, driven by its citizens, representing a dynamic force in the international arena. It is guided by seven aspirations, and aspiration six calls for an Africa whose development is people-driven, relying on the potential of African people, especially its women and youth, and caring for children. This aspiration informed the adoption of Agenda 2040.

Africa’s Agenda for Children 2040 was the result of conclusions from a High-Level Conference held in Addis Ababa from 20-21 November 2015 to assess the status of the rights of children in Africa 25 years following the adoption of the Children’s Charter as part of the Commemoration activities of the 25th anniversary of the African Charter on the Rights and Welfare of the Child.

Agenda 2040 is guided by 10 aspirations: The African Children’s Charter, as supervised by the African Children’s Committee to provide an effective continental framework for advancing children’s rights; the existence of an effective child-friendly national legislative, policy and institutionalframework in all member states; the registration of every child’s birth and other vital statistics; every child survives and has a healthy childhood; every child grows up well-nourished and with access to the necessities of life.

Others are: every child benefits fully from quality education; every child is protected against violence, exploitation, neglect and abuse; children benefit from a child-sensitive criminal justice system; every child is free from the impact of armed conflicts and other

Nigerian children are yearning for quality education and better life disasters or emergencies; and African children’s views matter.

Agenda 2040 was adopted by the Committee in 2016 and approved by the African Union Executive Council of Ministers in July 2017.

The African Charter for the Rights and Welfare of the Child (ACRWC) is ratified by 50 States. It provides for both civil and political rights, as well as economic, social and cultural rights.

ACERWC provides for the establishment of a Committee of experts that is mandated to promote and protect the rights of children in Africa. The African Committee of Experts on the Rights and Welfare of the Child (ACERWC) is also mandated to develop principles and policies to aid the implementation of its mandate.

Agenda 2040 was adopted with a view to strengthen the Committee’s implementation of its mandate in a deliberate and structured manner, within a fixed time, and focusing on achieving specific goals by 2040.

Each engagement with the aspirations provided for in Agenda 2040 is a step towards the implementation of the African Children’s Charter.

The DAC therefore aims at promoting children’s rights across all African countries.

Observing the day is a constant reminder to governments, NGOs and other stakeholders of the challenges faced by the African child and the empowerment they should be granted.

According to statistics, approximately half of the African population is made of children below the age of 18. But most of these children do not acquire early childhood development they need. They do not get basic education since most of them drop out of school before the age of 10. A large percentage also lacks enough food, shelter, and even clothing.

The situation can be said to be worst in Nigeria, where children learn to thrive under harsh conditions. Currently children’s education and other rights are being threatened

by insecurity, poverty, inadequate budgetary allocation, as well as other natural disasters.

The number of out-of-school children in Nigeria is said to be 10,193,918, the highest in Sub-Saharan Africa. The reason for the large number despite several intervention programmes is not far-fetched, as hundreds of school children have been abducted from their schools by insurgents, while many children and their parents have been displaced from their homes and villages because of the activities of insurgents and armed bandits, and forced to live in internally displaced persons (IDP) camps, where formal education is not guaranteed.

According to a recent report, armed groups carrying out kidnapping for ransom are blamed for a series of raids on schools and universities in northern Nigeria in recent months, abducting more than 700 students for ransom since December, 2020.

The abrup and prolonged closure of schools to check the spread of COVID-19 was also halted the efforts being made by government and other stakeholders to get children of school age in schools. When schools eventually reopened, a number of children could not return to school due to several factors.

Poor funding and inadequate budgetary allocation to education has always been a source of concern in Nigeria over the years, as the country allocates less than 10 per cent of its annual budget to the sector. This has led to the dilapidation of structures and overpopulation in public schools and led to the establishment of more private schools which can only provide quality education for a fraction of the population of children who are yearning for quality education.

Sadly, President Muhammadu Buhari has said the government cannot afford the funding needed to resuscitate the educational system in the country. He said the financial situation in the country has been

The number of out-of-school children in Nigeria is said to be 10,193,918, the highest in Sub-Saharan Africa. The reason for the large number despite several intervention programmes is not far-fetched, as hundreds of school children have been abducted from their schools by insurgents, while many children and their parents have been displaced from their homes and villages

worsened by the global economic downturn, which by implication, has affected the national revenue.

However, the president stated that his administration is committed to addressing the needs of tertiary institutions through budgetary allocations to the Tertiary Education Trust Fund (TETFund).

He also urged academic institutions to leverage other funding sources, including from alumni, private sector, institutional linkages and research grants to attract additional revenue for infrastructure, research and development.

This applies to tertiary institutions at the detriment of primary and secondary education, which are the foundation for other academic attainment.

To address the problem of insecurity in schools, some experts have suggested several ways school authorities can monitor their students and their environment.

A security expert and President, Nigeria Computer Society, Prof. Adesina Sodiya said investment in technology will help the country to tackle insecurity.

According to him, “in developed countries, you will see satellite technologies and immediate deployment of drones and helicopters. They will follow the kidnappers to wherever they are going. We can’t handle this on the surface, we can also use the air technology which is very simple to deploy.”

He said microchips could be put in any equipment or vehicle the kidnappers may likely go away with so that it can be easier to track them.

He added that CCTV cameras could be installed at the entrance of the school to ensure face recognition of everyone coming into the school.

Other suggestions include getting the community where the schools are located involved in securing the schools, insisting on the possession of identity cards at all times by staff and students, taking roll calls twice daily, sensitisation of students and staff on security matters, among other measures.

The issue of poverty alleviation should be taken seriously by the government. Interventions meant for the poor masses should get to them, and entrepreneurship should be encouraged to make youths self-reliant.

As Africa and Nigeria remember the children who died fighting for their rights, individuals and corporate organisations have been called upon to support the government to make the country fit for children.

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EDUCATION

Don’t Patronise Visa OAU Becomes First Nigerian Varsity Vendors, US Consulate to Distribute Electricity Charges Nigerian Students Yinka Kolawole in Osogbo

Funmi Ogundare The US Mission Country Consular Coordinator, Ms. Susan Tuller has advised Nigerian students who intend to study in the United States of America not to patronise visa vendors or touts, saying that they often charge high fees and provide incorrect or misleading information to applicants.

Tuller gave the advice at a programme held at the Consulate in Lagos to celebrate Nigerians who have gained admission into US universities.

She said despite the COVID-19 pandemic which had impacted consular operations, thereby reducing the overall number of applicants scheduled, the US Mission in Nigeria has continued to prioritise students’ visa as over 2,500 applicants have so far been interviewed this year.

According to her, “students’ visa appointments would continue to be given priority throughout the summer months, all required information is available at ustraveldocs. com and applying for an expedited appointment is free and even easier than applying for college.”

The consular coordinator noted that students can apply up to four months in advance of their programme start date, adding, “as our students here today can tell you, there are few things to remember when coming for a student visa interview here at the US Consulate. Students

will need to demonstrate to the consular officer that they are entering the United States solely for the purpose of pursuing a full course of study, that they are prepared for their course of study, that they have a credible plan to pay for their education, and that they intend to depart the United States after the completion of their programme.

“We also strongly discourage visa applicants from hiring visa vendors or touts, as they often charge high fees and provide incorrect or misleading information to applicants.”

She said higher education plays a central role in NigeriaUS relationship as Nigeria sends more students to American colleges and universities than any other country in Africa, and is the 11th largest source worldwide of international students to the United States.

Tuller, whose son is also starting university this August in the United States after being dragged around the world by his parents, said the university he would be attending assigned a Nigerian student already at his university to help him acclimatise to the US as it would be his first time of living there.

Some of the students who spoke to journalists about their aspirations, expressed hope that getting educated in the US would exposed them to best practices in their fields and equip them to proffer solutions to some of the problems facing Nigeria after completing their studies.

The Vice-Chancellor, Obafemi Awolowo University (OAU), Ile-Ife, Osun State, Prof.

Eyitope Ogunbodede has announced that the institution has obtained marketing license to distribute electricity to the university community.

Speaking during a press conference to celebrate the 60th anniversary of the institution at the campus in Ile-Ife, he said the Rural Electrification Agency (REA) 8.03MW power project for the supply of electricity to the oniversity is on-going and almost completed.

“The university has processed and obtained from the Transmission Corporation of Nigeria the marketing license as electricity distributor, the first Nigerian university to enjoy the priviledge. This will enable OAU generate its own electricity.

“The aim is to reduce the economic burden of high tariff and ensure regular electricity supply to enhance its various academic activities.

“The university presently pays over N80 million per month for electricity and additionally over N2 million per month on Diesel to power generators.”

While highlighting the achievements of the institution, Ogunbodede said the university has made significant advances in research, resulting in nationally and globally significant success stories.

“The university has achieved rapid growth and development, particularly in the areas of academic programmes, research, infrastructural development and human resources development.

“The university has produced, among its staff, a Nobel Laureate and six Nigerian National Merit

Award Winners.”

While commending the aniversity alumni and friends for their assistance in supporting various projects and programmes in the institution, he called for more intervention and support in the face of inadequate and dwindling resources from the federal government.

Also speaking, the ProChancellor of the institution, Owelle Oscar Udoji promised that the council will do its best to move the institution forward.

The 60th anniversary logo of the university was also unveiled at the conference.

L-R: The Registrar, Federal College of Education (Technical) Umunze, Anambra State, Mrs. Nkah Bessie; the Bursar, Comrade Ethelbert Echedo; the Provost, Dr. Tessy Okoli; and the Librarian, Dr. Christopher Ugwuogo, during the inauguration of the new management team... recently

Benue State Varsity VC Laments Students’ Inculcate Growth Mindset N1.82bn Debts in Children, School Head Tells Parents Uchechukwu Nnaike The Head of Greensprings School, Lekki Campus, Mrs. Feyisara Ojugo, has enjoined parents to instil a growth mindset in their children using what she described as “the power of yet.”

Ojugo, who said this during a presentation on the Thinking School philosophy held by the school, added that “the power of yet” is a growth mindset language that builds children’s confidence and motivates them to keep persisting in the face of challenges while learning a new skill.

She said: “Children - and even adults - easily get discouraged when it appears they aren’t making meaningful progress towards learning a new skill.

The majority of them would conclude that they can’t do it, and this saying stems from a fixed mindset, which demoralises repeated trials until a skill is mastered.

“To inspire children to be confident in their ability to learn and acquire new skills, parents should encourage a growth mindset, using the ‘power of yet.’

Instead of watching children say they can’t do something, parents should ask their children to add the word ‘yet’ to the statement.

For example, instead of allowing a child to conclude that he or she can’t ride a bicycle after several trials, the child should be made to say he or she can’t ride a bicycle yet.”

Ojugo emphasized that encouraging children to add the word “yet” to statements helps them imbibe a positive attitude towards learning, and basically helps them to become life-long learners. She also suggested that the “power of yet” growth mindset language should be adopted in Nigerian schools, as it would remind teachers that children are a work-in-progress.

“The power of yet isn’t only useful to parents at home. In fact, it should be used more in the school, as that us the place children learn new things and pick up new skills.

“In Greensprings School, the growth mindset is ingrained in our school’s culture, and the power of yet helps remind both our teachers and students that everyone is a life-long learner and work-in-progress. I believe that by using the power of yet in our various homes and schools across the country, we would be raising children who understand that practice makes perfect and never doubt their ability to achieve anything,” she said.

George Okoh in Makurdi The Vice- Chancellor of the Benue State University, Professor Tor Joseph Iorapuu has raised the alarm that from 2010 to 2019, students owned the university N1.82 billion.

He stated that the figure continues to rise as a result of failure of the students to pay tuition fees.

Iorapuu, who made this known on Monday in a chat with THISDAY in Makurdi, said the situation is affecting the programmes of the university.

“This is worrisome for a university. Outside salaries to

lecturers, the government does not give any other financial assistance to the school. How then do we fix other things in the school?

He stated that the institution has so far registered 19,808 of its student population of 24,135 for the first semester of the 2019/2020 academic session, adding that 997 students have paid their tuition fees but were yet to register.

“The population of the students is 24,135 out of which 19,808 have registered so far. Of this number, 997 paid but did not register and this number includes students in 300 and 400 levels.”

He stated further that 3,320 students, which is about 13 per cent of the student population, have neither paid nor registered but some of them have been attending lectures.

The VC expressed worry over the development, saying that some students, rather than pay their fees, divert such monies to other uses. “Some of these students don’t register because they want to indulge in examination malpractices.”

Iorapuu said it was for this reason that the school had to close the portal on June 9, which was the eve of the first semester examination.a He said due to pleas from

many quarters, the institution decided to open the portal again from 12 noon on Monday to 6 pm on Tuesday to enable all those who want to make payments and register to do so.

The vice-chancellor said the management of the university had met with the students’ union on the matter and that they were already signing an undertaking.

He warned members of the public especially students and graduates of the institution who have taken to social media against jumping to conclusion on a matter they hardly know anything about.

Federal Poly Ayede Mgt Warns Public against Fake Recruitment Exercise Hammed Shittu in Ilorin The Management of Ayede Federal Polytechnic, Ogbomoso, Oyo State has warned members of the public against playing into the hands of people posting fake recruitment exercise of the institution.

In a statement signed by the Registrar, Mr. Akin Adesola, a copy of which was made available to journalists in Ilorin, Kwara State, the institution

debunked an advertisement of a purported recruitment exercise widely circulated on social media.

The statement described the information as fake and the handiwork of unscrupulous elements out to defraud hard working Nigerians.

It urged the public to disregard the information, as the information did not emanate from the polytechnic management and advised people to treat the information as fake.

The statement also advised members of the public to be wary of the antics of those peddling the advertisement as they are out to defraud hard working Nigerians.

It said the purported advertisement, circulating via WhatsApp and other social media also got the reaction of the Minister of Youths and Sports, Mr. Sunday Dare.

The statement added: “For the avoidance of doubt, Federal Polytechnic Ayede, being

an academic institution, falls under the supervision and oversight of the Federal Ministry of Education, so application for employment into the institution cannot then be directed to Mr. Dare, who is the Minister of Youth and Sports Development.

“The Minister of Youth and Sports Development is not responsible for recruitment into the Federal Polytechnic Ayede, Ayelade, Ogbomoso, Oyo State.”

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EDUCATION

‘LASGEMS will Boost Students’ Academic Records, Database if Govt Embraces Justice’ Mr. Abayomi Erogbogbo is the inventor of the Lagos State Government Education Management Systems, and MD/CEO Applied Services Limited. He explained to some journalists, including Funmi Ogundare the impact the system has made over the years in ensuring a comprehensive electronic database of students’ administrative and academic records and why the state government must embrace justice in the interest of schools and students

W

hat are the benefits of the Lagos State Government Education Management Systems (LASGEMS) to schools?

LASGEMS is positioned to enhance the state’s internally generated revenue and widen the tax-net knowingly or unknowingly now flaunted as new aims. The benefits include quality data management for improved school administration and education sector governance, as problem solving is daily and evolving. From the statutory functions, the benefits are lifetime that would outlive all of us as sustainably implemented from 2005/2006. Prudent management from first collaborative external examination registration activated for government public school WASSCE candidates and significantly reduced annual sponsored from over 110,000 to less than 47,000. An average of N500 million has been saved annually, over N4 billion in nine years from 2007 until abruptly suspended in 2016.

Other benefits are improvement in public school WASSCE results by blocking repeaters, less of distractions, improved discipline, students no longer invisible to government and school managers, same with age limit events and sport competitors. A major benefit to private schools is the ability to minimise school fees debts through seamless controlled student transfer management and admissions ensuring safe investments. The public and private schools involved would process the student request and approval transactions online real-time in compliance with statutory requirement. As it is, school owners and managers have highly commended it because it will bring about comprehensive student tracking, monitoring and up-to-date records maintaining statutory government databases, seamlessly complemented with change delayed, but eventually implemented modules that abolished use of manual school registers, curriculum, scheme of work booklets for virtual solutions from 2014/2015 and transformed teachers to online real-time digital users. There is also the automated continuous assessment scores, instant broad sheets and stress free students report cards. We have been able to retrain about 1,000 private schools free in February 2015 on the enhancements.

How optimistic are you that the statutory LASGEMS would be restored by the state government?

The innovation remains Lagos ingenuity, a weighty education

management backbone. I am optimistic that Governor Babajide Sanwo-Olu would rise above bureaucratic impediments and push for the statutory LASGEMS continuity, considering exposed facts of last two years, some given under oath. The buck stops with the governor to allow for fairness and amicable solutions since the contractual arbitration option has been tactically frustrated by the new ministry of justice leadership that amazingly believes in mainly defending sister ministries above other considerations, and the arbitral tribunal reference closed. Education governance, schools, students, parents and service provider remain victims until justifiably reversed. It’s worrisome that it could drag for this long with the sitting deputy governor, part of the implementation supervisory team as the Commissioner for Science and Technology 2005 to 2011 that witnessed the launch of the change project, moved from 2005/2006 strategic data recovery start-up solution to LASGEMS web-based online real-time system 2009/2010, signed subsisting contract agreement in June 2009 and in the know of project performance obstacles and traps survived by service provider. The dispute is combination of successful change resisting intrigues, deliberate contract misinterpretation and software intellectual property rights challenges contrived by ministry of education and ministry of science and technology, misrepresenting facts to paint success as failure. By implications, denying the state continuous statutory benefits and mutilating her legacy achievements.

Why do you think the present administration is reluctant to continue with LASGEMS? The reluctance is disturbing in view of being blessed with more informed leadership team. The administration laments dearth of data, yet LASGEMS legacy solutions remain on hold. At a loss with the intentions, may be playing on time again. We alerted the leadership in April 2015 of concealed government officials training on replicated LASGEMS functions by Eko Project team, mistreated for the problematic demand to handover LASGEMS intellectual property software using contractual payment as bait, which we resisted. It was however Inherited by 2015/2019 administration that abruptly placed the partnership on hold and the system usage was interrupted from 2015/2016 with over 2.6 million lifetime statutory student records maintained, desirous to replace LASGEMS with an

Erogbogbo aberration labelled LASPIN that failed to see light of the day.

The dispute was eventually resolved in March 2019, the state governor approved the ministry of justice mediation prayers partially implemented before May 29. Unfortunately reneged by current administration with renewed hostilities by ministry of education, disregarding fairness and frustrating all options including a noble wind-up closure option in view of obvious takeover ambitions prejudiced by business or heroic interests. At the early stage of this administration, the deputy governor told me on phone that he is not responsible for the renewed challenges and unbelievably thereafter blocked my phone number, implying full awareness and supporting the misrepresentations based on my past experiences. He was part of a June 2010 meeting that prevented Governor Fashola from formally commissioning LASGEMS web-based system at a date fixed for June 2010 with the reason that private schools had not been trained, putting the cart before the horse. He apologised to me end of 2007/2011 tenure for all experienced project slow-down obstacles, shifted blames to the then deputy governor as his boss. The leadership is yet to call a truce meeting on this crucial statutory state matter while key officials responsible for continued misinformation rewarded by stakeholder ministry.

What are these statutory functions?

In summary, the statutory functions are that LASGEMS is able to maintain a lifetime comprehensive electronic database of student administrative and academic records with respective history of changes and movements, in both public and private primary, junior and senior secondary schools operating in Lagos State, including contact information of parents, guardians and sponsors. Other

functions are: assigning school codes in that it assigns unique one-time lifetime Student Personal Identification Number (SPIN) for every pupil/student for use in all school categories, manages student disciplinary actions and controls, provide student transfer management services making government the instant statutory clearing house for all transfers, as well as register students for external examinations, etc, as gazetted LASGEMS May 2007.

What step have you taken to resolve the dispute?

To me, Lagos State is more important than individual interests and benefits. I have in the last two weeks again appealed to our revered governor for amicable solution and for the second time escalated to Lagos House of Assembly for germane intervention being a paused operative statutory matter. I do not want to believe in the rumour that I am being deliberately denied.

What advice do you have for the government?

The administration avoids mentioning the education management legacy backbone, concentrates on added teaching solutions. Ten per cent of such executive support will ensure LASGEMS generalisation statewide in six months for public and private schools, implied data gap would also be bridged.

There has been a proliferation of various systems in public schools and the education sector in general legally unknown to the state which is harmful to government policies. I believe true collaboration and partnership is the way to go. I pray for the state leadership not to serve in vain and inventor/ service provider not to work or to have worked in vain. I am optimistic the Governor, Babajide Sanwo-Olu would embrace justice in the interest of the state, schools, students, service provider’s receivables.

KEHINDE OMORU www.kayomoru.com

‘THE CHANGE THAT WE NEED...’

“The problem with us...”, is a cliche in almost every Nigerian’s repertoire of language. Everybody quickly signs off an undesirable action, be it of incompetency or zero-ethics, or of poor general attitude, as every Nigerian’s nature or standard of performance.

Forabout13yearsnow,apresentlydistraughtfriendofourshaschangedhis personalassistant/receptionisteighttimes.Attheoutsetofhisbusiness outfit, he confidently shared with us a list of reasons why he’d rather not employ a married woman. These reasons included: constant requests for time off due to child care; lateness to work due to household chores in the morning; sleepiness at work due to encumbrance with housework and wifey duties; poor dedication to work due to commitments on the home-front; the likelihood of frequent requests for maternity leave or requests for time off to nurse sick children, and so on.

Thirteenmonthsintohercurrentemploymentourfriend’scurrentyoung andunmarriedPA(likethepastones)hasbeguntoinundateourfriend(her employer) with: requests for early closing for the day due to symptoms ranging from headache, menstrual pains, diarrhea, body aches, general malaise (the list is endless). Others have included, receiving a call from their village to go over to visit her sick mother or father; request time off to baby-sit her sister’s little children and request for early closing timesorshorterworkingdaystoattendchurchfellowshipsandmeetings; request time off to fix a leaking roof or broken door... “There is just no end to her excuses” our friend ranted.

“Askhertoleave!”wesuggested.Ourfriendquicklycountered,“Nobecause its the problem with us! It’s the problem with all office staff everywhere in Nigeria nowadays.The devil you know is better than the one you don’t.

Staffwantthepaybutwon’tpulltheirweight.Notgivingtimeoffforthese reasons (as above) is considered as being heavy-handed. In addition to this, withholding the pay for the days off work (for these reasons) is viewed as wicked!”

So how then would our friend run a good service? How would he ever break even or begin to make profits?

We thought over our friend’s statements, asked around and verified that alotmoreNigerianemployersarefacinghugestaffturn-oversforsimilar reasons. We can’t seem to shift from seeing our friend’s statements as incredible given that Nigeria already currently has a total of about 30 regional and national public holidays (online data 2018). We know from the National Bureau of Statistics that Nigeria lost at least N9.74 billion in 2015 & also in 2016 respectively as a result of many public holidays declared by the Federal government with 15 days reportedly observed as national holidays in 2015 and 2016 respectively. Subsequent reviews of these figures adjured it to be underestimated.

There is no disputing the huge financial cost of public holidays to the economiesofNigerianprivate&publicestablishments.Thenegativeimpact of these work-free days on our overall National productivity continues to be detrimental to staffs’ individual and collective attitudes to rigour & labour as well as to the country’s development. If the holidays must stay these huge year in year out, teachers must begin to think of ways to inculcate a culture of diligence, hard-work, accountability and fairness in students. We must begin to make our children do to others what they’d like done to them.This is the beginning of the real change that we need.

Omoru is a freelance writer, education, health and social care advocate

Focus on Providing Solutions, Kings Varsity Chancellor Tells Students Oluwabunmi Fache Renowned clergyman and Chancellor of Kings University, Odeomu, Pastor Matthew Ashimolowo, has admonished young people to be solution providers, challenging them to master important life skills, many of which are not in the academic curriculum of the current educational system.

He gave the advice recently while addressing the students and members of the university community during one of his lecture series titled ‘Things They Will not Teach You in the University’.

In the lecture, he stated that the world is full of opportunities for those who can spot problems and proffer solutions to them, adding that some of the tips needed to be successful are not

readily available in the academic curriculum.

“Many of you will leave this institution with your degrees, however, you need to realise that the world of work is changing, the general sociology of the world is changing. Along with this truth is the fact that certain skills which are not considered fit for university curriculum will be needed by you,” he said Ashimolowo highlighted several informal skills necessary to succeed in different aspects of life, such as: how to sell, how to lead, how money works, how to negotiate, how to start a business, how to resolve conflicts, among others.

He emphasised the need for youths to be equipped with life-ready skills and information that will make them highflyers in their generation.

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Work-ready Skills: HR Rebranded ASCETA Targets 3,000 Expert Seeks Review Student Population Growth of Tertiary Institutions’ Curriculum Emmanuel Ugwu-Nwogo in Umuahia

Uchechukwu Nnaike A human resource management expert, Mrs. Faith Akintunde, has called on tertiary institutions to step up in equipping students with adequate skills so as to prepare them for the world of work and national development.

She said this in Lagos recently, at an event with the theme ‘Equipping Corporate Professionals to Maximise Opportunities’, organised to present her book, ‘360° Career’ to the public.

According to her, ”there is this conversation for the need for a handshake between universities or tertiary institutions and the corporate space. ”There is also the need to encourage universities to redesign their curriculum in such a way that it will match with the needs in the corporate space so that by the time we produce graduates, they will be very useful not only to themselves but also to the nation at large,” she said.

Akintunde also urged organisations and business owners to invest hugely in human capital development for optimum performance.

She said such an investment is required to keep an organisations going, especially in the face of the global economic challenges, occasioned by the COVID-19 pandemic. ”I strongly believe that people are the strongest competitive

edge that any company can have. This is because the more investment you can make in people, the more the chances of the organisation doing well. ”What inspired the outcome of the book we are launching today is my strong passion in human capacity development. ”Some organisations have the passion or desire to invest in workforce, but do not have the financial ability, while some have the ability, but do not have the resources. Some believe in the long-term potential for investing in people. ”There are, however, some organisations that would want to invest in people but because they do not have the assurance that if they invest in such people, the people will, in return invest in them,” she said.

Quoting Richard Brandson, she said: “You can train people and expect that they are going to leave you, but what happens if they do not leave you? ”Why not train them with the intention and desire that they will stay, because if they indeed stay, they are going to deploy the knowledge and the capability that you have developed in them into the organisation.”

Akintunde, a productivity coach and founder of HR Pro Leverage (HRPL), said investment in people would last for a lifetime and would outlast the organisation.

With improved infrastructure, curriculum and general conducive environment for teaching and learning, the management of the Abia State College of Education Technical Arochukwu (ASCETA) has projected an increased student population to 3,000.

The Provost, Dr. Phillip Nto, who disclosed this recently, while addressing journalists after conducting them round the institution, said the noticeable infrastructural development happened over the last five years when he assumed duties as provost.

He expressed confidence that the college would in no distant time hit its target of growing

its student population, citing the improvement in facilities and its strategic location.

The Abia State-owned institution is easily accessible to Cross River, Akwa Ibom, and Ebonyi States and with the good road networks around, connecting ASCETA has become a simplified journey, he said.

The provost noted that the Tertiary Education Trust Fund (TETFund) played a crucial role in the rebranding of ASCETA, following the removal of the college from the list of institutions blacklisted from accessing funds.

“The past administration of the college had incurred the wrath of TETFund after misappropriating funds accessed for the construction

of the School of Vocational Education, but I was able to complete the building project and earned implicit confidence of TETFund.”

He said the modern edifices that have replaced the structures erected in 1931 by the renowned educationist and founder of the college, late Dr. Alvan Ikoku, have completely changed the face of the hitherto rustic institution.

Some of the buildings include School of Business Education, School of Science Education, with well equipped gym, Dr. Alvan Ikoku Ultramodern Library, School of Arts and Social Science with electronic magic board, and a 350-capacity lecture auditorium.

“The projects are the results of efforts and hard work

and implicit confidence that TETFund has in me,” the provost said, noting that the college has now been revived from the state of comatose that the present administration inherited when it came on board.

Nto acknowledged that ASCETA has been engulfed with “backlog of problems,” some of which have not been solved, but stated that a lot of ground has been covered in efforts to reposition the institution.

He said the issue of nonissuance of certificates to students after graduation is now a thing of the past, while the college has now been connected to the national grid, thereby resolving the problem of inadequate power supply.

A human resource management expert, Mrs. Faith Akintunde (middle) with her friends at the public presentation of her UniAbuja Calls for Good book, ‘360° Career’, in Lagos... recently Governance, Holds Maiden ARC-Project: Gombe Gov Vows to Partner UNICEF, Leadership Retreat “In Africa, it has proven to be Others on Youth Empowerment, Girl-child Education Kuni Tyessi in Abuja the latter. Public governance and The University of Abuja recently held its maiden edition of the retreat on how it can navigate the current leadership challenges confronting the country.

Speaking on the theme ‘Building a Centre of Excellence’, the Vice-Chancellor, Professor Abdul-Rasheed Na Allah said the concept of public governance has been bastardized.

Represented by the Deputy Vice-Chancellor, Academics, Professor Clement Alawa, he said, “the evidence of failure of leadership at all levels abound.

The failure spans the communal through the ethnic to the tribal to the religious.

He said the consequences of the death of leadership across the board could not be more devastating in this anarchic environment replicated across the continent, adding that sterling leadership is critical to development, implying state penetration of the political system, and by implication, the material welfare of the state and society.

“In effect the challenge is to interrogate the role of pivotal actors interacting at the macro and micro levels and the dynamic generated by this interaction for the health of the system. In the character of leadership, nation-building may acquire connotations that may be constructive or nebulous.

leadership are thus intrinsically linked and constitute critical challenges that require urgent intervention at both intellectual and practical levels.

The challenges of the Abuja Leadership Centre, the TETFund Centre of Excellence in Public Governance and Leadership, are cut out for it,” he said.

Also speaking, the Director of the Centre, Professor Ademola Araoye said the denudation of global standards of excellence nationally in cynical sleight of hand in political policy making has contributed to the wholesale degradation of humanity.

While stressing that the university is located in an environment that would facilitate the advancement of its mandate, he said true excellence is associated with an unending process of positive cognitive contamination to achieve a distillation of ethical, value, attitudinal syncretism from a plurality of tested ideas and visions.

The one-day inaugural annual retreat, under the auspices of ‘Abuja Leadership Centre,’ a TETFund Centre of Excellence in Public Governance and Leadership series, is to address the crisis of public governance and leadership which has had telling consequences on all spheres of development in Nigeria.

Segun Awofadeji in Gombe

Gombe State Governor, Muhammadu Yahaya has said his administration will continue to work in partnership with the United Nations Children Education Fund (UNICEF) and all relevant agencies in order to address social and economic challenges bedevilling the state especially as it affects youth employment and girl-child education.

The governor stated this recently during a meeting with stakeholders on the implementation process of the At- Risk Children Project, ARC-P, led by the Special Adviser to the President on Social Investment, Hajiya Maryam Uwais.

The state government had this year signed a Memorandum of Understanding with the Office of the Special Adviser to the President on Social Investment on the ARC-P, aimed at complementing the efforts of the state government in tackling the menace of out-of-school children and winning the war against societal ills such as drug abuse.

During the stakeholders’ engagement, which held at the Gombe State Governor’s Lodge, Abuja, Yahaya commended UNICEF for playing a pivotal role towards the establishment of the Better Education Service Delivery for All (BESDA), which objective is to among other things, improve literacy through enrollment of

out-of-school children.

He said being at the centre of the North-east, Gombe State is overwhelmed by the influx of Internally Displaced Persons (IDPs) from contiguous states of Borno, Yobe and Adamawa, noting that it was for this reason that his administration keyed into the ARC-P initiative to curb some of the societal ills and attendant vulnerability and consequences of the centrality of the state.

The governor informed his guests that with a population of over 3.5 million people and with about 70 to 80 per cent of unskilled youths and the rising unemployment rate among the educated ones in the state, every effort has to be explored to address the challenges.

He said his administration is ready to work with UNICEF in whatever capacity in order to address the challenges confronting the girl-child and youths, who are vulnerable, describing the situation at the rural areas as alarming and unacceptable.

He added that Gombe is ready for the take-off of the ARC-P project. Yahaya promised that his administration will continue to take all necessary measures, especially in collaboration with development partners and relevant agencies to remedy the situation.

In her remarks, Mrs. Uwais lauded the governor’s political will and commitment to the implementation of the ARC-P activities in Gombe State.

LASTVEB Partners NGO to Train Youths on Gardening, Nursery Maintenance Funmi Ogundare The Lagos State Technical and Vocational Education Board (LASTVEB) is set to train 50 youths in the area of Garden and Nursery Maintenance through its partnership with Sustained Africa Earth Initiatives.

The training is part of the board’s ‘Skills for Work’

initiative, aimed at reducing unemployment in the state.

Speaking during the inauguration of the participants recently at Government Technical College, Agidingbi, Ikeja, the Executive Secretary of the board, Ms. Ronke Azeez expressed excitement about the partnership, saying that aside being certificated, the training

will be practical-based for those that want to upskill themselves.

According to her, “the training is for those who are either unemployed, not in education, or want to change careers. It will last between six to nine months. It will be modular and certificated. We are looking forward to having a thorough experience with our

facililitators.”

She advised the participants to take the training seriously through learning and taking on the practical aspects, as well as looking at opportunities available for them. She added that they must maintain 100 per cent attendance, as it is by so doing that they will be able to get their ceftificates.

38

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

CITYSTRINGS

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Reward System for Proper Plastic Waste Disposal Chiemelie Ezeobi reports that to ensure proper plastic waste disposal, the Lagos State Environmental Protection Agency has intensified its advocacy for sustainable waste management by instituting a cash reward system in exchange for plastic trash

GM LASEPA, Dolapo Fasawe, presenting cash reward to 67 year old Ife Johnson in exchange for 13 bags of recycling waste

Advocacy walk from TBS to Obalende under bridge - Restoration of the Ecosystem- Clean up, Green up

lobally, plastic waste management is a critical issue that is needs proper management. According to records, over 300 million metric tons of plastics are produced in the world annually.

For Nigeria some 32 million tonnes of waste are generated per year, of which 2.5 million tonnes are plastic waste. In Lagos alone, 9,000 tonnes of waste are generated daily with about 86 per cent of it plastic, consisting bottles and bags.

Despite that plastics are very suitable for reuse or recycling including production of blocks, new plastics or pallets for lock production, sadly, most of these end up in landfills, sewers, beaches and water bodies, thereby harming the Ecosystem.

These plastic wastes make up a significant proportion of solid wastes and litter the state, thus becoming a highly visible part of the waste stream (PET, Styrofoam and nylon commonly being used for water and beverages, take away plates and cups, carrier bags and others).

G

offer attractive and paid higher than market values to promote plastic recovery and attitudinal change towards against non-reusable products," she added.

Dangers Posed The menace of poor management of plastic waste that enters the environment is caused by open dumping, open burning, and disposal in waterways and even on the road.

Inevitably, these waste pose great dangers to the environment. The environmental challenges they pose include ocean and lagoon debris, Ecosystems degradation, drainage clogging and flooding.

Given the dangers posed by the improper disposal of these plastic wastes, the Lagos State government on May 8, 2020 began a plan to put in place policy guidelines backed by appropriate legal framework for plastic utility to ensure a sustainable management of plastic waste.

Responsibility to Nature Dr. Tunde Ayeye, the National president of the Cleaning Practitioners Association of Nigeria (CPAN) in his remarks commended the agency on its unrelentless effort to keep the environment safe and healthy for all which is one of the ways to restore the ecosystem.

"Nature has given us the environment and therefore our responsibilities is to take care of it against natural disasters as we have no other comfort zone. The United Nation's Organisation '(UNO) has declared the decade of action for ecosystem restoration and therefore the need for crusade to enlighten our people of the need to protect the earth and work towards tackling of global environmental challenges," he noted.

Adeyeye noted the importance of clean and hygienic environment as key factors in the fight against the COVID 19 and therefore must be upheld even after the pandemic. He further reiterated the commitment of his association's support in the fight against the menace of plastic pollution and urged the people to take responsibility for the care and protection of the environment that nature has bequeathed on us.

According to the LASEPA Spokesperson, Bola Ajao, the peak of the day was the presentation of 13 full bags of plastic by 67 years old Ife Johnson, who has been a picker for 25 years and use the proceed of the trade to support her family.

Noting that plastic recovery is lucrative, she commended the laudable move of the agency as it would encourage her to do more and indirectly keep the environment clean. The grandma also advised other people to join the global business trend, instead of begging or engaging in questionable trades that put them in trouble.

Creating Value from Waste On its part, the Lagos State Environmental Protection Agency (LASEPA) has advocated for proper plastic waste disposal in order to reduce all forms of pollution in the state. To achieve this, they advocated for the waste to wealth initiative to rescue the environment from negative impacts of climate change as residents were rewarded with cash in exchange for recycliable waste/ single use plastics in a campaign tagged "Trash For Cash".

Essentially, the goal is for sustainable plastic waste management to create value from the waste. This will formalise the waste-pickers’ sector to improve livelihoods and reduce the pressure on landfill. It will also help the drainage channels and reduce plastic pollution in the marine environment.

As part of such efforts, the agency in collaboration with the Cleaning Practitioners Association of Nigeria (CPAN) held a sensitisation walk/ clean up exercise to mark the year 2021

Role of LASEPA According to the GM, her agency would measure the impact of the exercise through clear drains, absence of wash off plastics and free flow of drainage after rains in order to appraise the exercises.

The LASEPA boss further reiterated the commitment of her agency to protect the land, air and water in the state and insisted that all industries treat their trade effluent before discharging to the environment to avoid further pollution.

She also enjoined the people to cooperate with the government and take responsibility by ensuring plastic wastes are sorted and dropped into the bins that would be strategically placed by the agency, where recyclers would pick them to avoid polluting the environment and the ocean bodies in the state.

The GM LASEPA, Dr Dolapo Fasawe, advocating for a better environment World Environment Day (WED), with the theme“Ecosystem Restoration".

They jointly called for collective action against indiscriminate disposal of plastics and all other recycliable wastes in the drainages, oceans and other water channels so as to prevent drinking polluted water and eating poisoned sea foods.

General Manager LASEPA, Dr. Dolapo Fasawe, said the "Waste to wealth is a sustainable international initiative, recognised worldwide with the objective of generating less waste, encouraging reusable materials as well as promoting recycling and conversion of waste to new products which translates into income generation and job opportunities for our people."

Enlightenment Campaign During the walk, Dr. Fasawe said the choice of Obalende underbridge for the Trash for Cash was as a result of the unfriendly environment and blocked drainages. She therefore emphasised on the need to educate people on the consequences of indiscrimate disposal of plastics, its effects on the environment, benefits of recycling and clean environmental practices

to good quality of life.

Enjoining the residents to ensure the state is rid of plastic pollution by applying self-regulation and self-enforcement, she noted that government cannot be everywhere to monitor and supervise their activities.

She said: "Today‘s exercise was to create public awareness on the need to rescue the environment from unfriendly activities and the need for all to be conscious of actions that affect the existence of life on health. Our objective is to advocate for sustainable solutions to all forms of environmental degradations and reduce the negative effect of climate change on the environment.

"These plastics are treasure raw materials manufacturers are eagerly searching for to recycle into new useful products in exchange for cash rewards. Ironically, somebody's waste is another person's useful material.

"Our cash for trash initiative was to discourage disposal of plastics in the drains, water channels and not end up as foods and water we drink respectively."

To garner support for the campaign, "our

39

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

CRIME&SECURITY

Bolstering the Navy's Sealift Capability The Nigerian Navy launched a new Landing Ship Tank-100 at Damen Shipyard, Sharjah, United Arab Emirates last week. Chiemelie Ezeobi reports that the LST would not only boost the navy's sealift capabilities but also enhance the transportation of troops, military hardware, vehicles in the conduct of maritime security operations launched from sea as well as supply of relief material during period of national emergency

The navy's newly launched Landing Ship Tank

A

s part of a critical component of naval power projection for enhanced maritime security in the Gulf of Guinea and beyond, as well as enhancing the transportation of troops, military hardware, vehicles in the conduct of maritime security operations launched from sea as well as supply of relief material during period of national emergency, the Nigerian Navy had initiated the construction of Landing Ship Tank-100 (LST-100) built at Damen Shipyard, Sharjah, United Arab Emirates.

This recent acquisition has increased the fleet acquired by the navy since 2015. According to checks, the navy has acquired close to 400 new platforms including 172 Riverine Patrol Boats (RPBs), 114 Rigid- Hull Inflatable Boats (RHIBs), two Seaward Defence Boats (SDBs), 12 Manta Class/Inshore Patrol Craft (IPC), three Whaler Boats, four Barges / Tug Boats, 22 Fast Attack Boats, 14 Unmanned Aerial Vehicles (UAVs), four Helicopters, 14 River Town Class, 14 House Boats and four Capital Ships.

Objectives According to the Director of Navy Information (DINFO), Commodore Suleman Dahun, the introduction of the LST to the NN inventory will bolster NN sealift capability.

Specifically, he said it would enhance the transportation of troops, military hardware, vehicles in the conduct of maritime security operations launched from sea as well as supply of relief material during period of national emergency.

"Furthermore, the vessel will serve as a critical component of naval power projection for enhanced maritime security in the Gulf of Guinea and beyond. In its secondary role, the LST will play a critical role in the protection of maritime assets and preservation of law and order at sea, thus contributing significantly to promotion of global maritime commerce, peace and safety."

Construction The construction of the LST began at Damen Shipyard, Sharjah, United Arab Emirates about two years ago. With its construction,

and successfully completed by the NN and Damen Shipyards. Most notable among these FAT’s was the main propulsion engines tested in 2019/ 2020 and the Remote Weapon system which was also successfully tested in March 2021," he added.

The CNS, Vice Admiral Awwal Gambo

it replaced the first set of LSTs of the NN, NNS AMBE and NNS OFIOM, which have been decommissioned.

The bid opening process for the procurement of the LST was held on December 19, 2017 and supervised/conducted by a team from the Bureau of Public Procurement as well as a technical committee of the Nigerian Navy, the DINFO disclosed. He said the shipbuilding companies that participated were Damen Shipyards of the Netherlands, Anadolu Deniz of Turkey and Indian Shipyards GOA of India.

On June 13, 2019, the NN and Damen Shipyards signed the final general arrangement plan and specifications on the LST 100 and this date of June 13, 2019 became the effective date of contract for the LST 100. The contract duration as agreed by both parties was approximately 36 months from the effective date of contract. The Keel laying ceremony for the LST 100 was held on December 9, 2019 at The Damen-Albwardy Shipyard in Sharjah the UAE and the immediate past CNS, Vice Admiral IE Ibas, placed the Nigerian Navy insignia into the keel and sealed it.

"Over the last two years, several Factory Acceptance Tests with regards to various components of the LST 100 have been jointly

A Chief's Pride Just last week Monday, the LST was launched in Dubai. In his speech, the Chief of Naval Staff (CNS), Vice Admiral Awwal Gambo who participated virtually, beamed with pride at the latest addition to the naval fleet.

Reiterating that the LST-100 was conceived as a replacement for the decommissioned 2x LSTs (NNS AMBE and NNS OFIOM) from the NN inventory between 2012-2014, he noted that the LST -100 would enhance NN sealift, and evacuation capabilities for the conduct of amphibious operations.

He said: "In this regard, this launching ceremony is of great significance as it marks a giant stride in our efforts towards restoring Nigerian Navy sea dominance within the GoG region. Permit me to state that shipbuilding is a complex and time-based engineering activity, which demands hard work, integration of diverse competences and attention to the minutest detail.

"Thus, the choice of Messrs Damen Schelde Naval Shipbuilding to construct the LST-100 was made after a highly competitive bidding process. Messrs Damen was selected based on her track record of high quality ship building capacity as well as the belief in the company’s ability to adhere to agreed timelines. At this milestone event of the project, I am glad to say that the confidence reposed in Messrs Damen has not been misplaced. Permit me, therefore, to congratulate Messrs Damen for meeting this crucial timeline in the construction of the LST-100 despite the disruptions and delays caused by the COVID-19 pandemic.

"Accordingly, the launching ceremony today is being held virtually without the presence of the representatives of the Nigerian Navy in the Damen Shipyard in Sharjah, as is the custom. Despite the unfortunate turn of events which were not envisaged when the contract for the construction of the LST-100 was signed as well as the global lockdown

which affected movement of people and goods, Damen Shipyard persevered and today, we are witnessing this launching ceremony.

"It is gratifying to note that the introduction of the LST-100 to the Nigerian Navy inventory will bolster NN sealift capability. Specifically, it would enhance the transportation of troops, military hardware, vehicles in the conduct of maritime security operations launched from sea as well as supply of relief material during period of national emergency.

"Furthermore, the vessel will serve as a critical component of naval power projection for enhanced maritime security in the Gulf of Guinea and beyond. Let me also say that in its secondary role, the LST-100 will play a critical role in the protection of maritime assets and preservation of law and order at sea, thus contributing significantly to promotion of global maritime commerce, peace and safety. " While commending President Muhammadu Buhari for his unflinching support to the recapitalisation programme of the Nigerian Navy Fleet, he said the navy and, indeed the global seafaring community, look forward to the services "of this masterpiece as her keel touches water for the first time in her career. I believe, the craftsmanship, standard of engineering and support provided by Messrs Damen Schelde Naval Shipbuilding will guarantee the effective presence of this vessel on the high seas for a long time to come".

Capabilities According to additional information from the DINFO, "the new LST has a complement of 32 crew and 250 embarked persons and a length of 100.08m. She is powered by two Caterpillar/Cat 3516 C-rating engines and four Caterpillar C-18 generators. Furthermore, she has an endurance of 15 days @ 15 knots. If she is to be used for humanitarian missions/ evacuation, she can accommodate over 450 persons on its upper and lower decks in short trips."

With this latest acquisition and several others still on their way, it is believed that the navy is better positioned to tackle maritime criminalities either within its backwaters and territorial waters.

40

T H I S D AY ˾ ͯʹ˜ 2021

BUSINESS/MONEYGUIDE

Tony Elumelu Foundation Trains 200,000 Entrepreneurs Oluchi Chibuzor The Tony Elumelu Foundation (TEF), one of Africa’s leading philanthropy empowering young African entrepreneurs from all 54 African countries has disclosed that it successfully trained over 200,000 entrepreneurs in core business management skills as part of its 2021 TEF Entrepreneurship Programme. The Business Management training was conducted exclusively on TEFConnect, the Foundation’s proprietary digital platform that provides capacity-building support, advisory and market linkages to over one million Africans, a statement from the organisation explained.

The TEF Entrepreneurship Programme Business Management Training equips entrepreneurs with critical skills required to launch and run their businesses at the early growth stage.

“With a unique curriculum that encompasses topics on ‘Starting Your Business, Business Management & Fundamentals,

Leadership & Business Growth, Selecting and Building a Team,’ amongst others, entrepreneurs are effectively armed to achieve business growth, profitability, and sustained success.

“Entrepreneurs were hosted to weekly information sessions, as part of the training, to address relevant concerns and share vital programme updates.

“All entrepreneurs received active support from coaches and mentors who provided technical guidance, counsel and one-one interaction throughout the duration of the training programme,” it added. It explained that the training, which was one element of the seven pillars of the TEF Entrepreneurship Programme, was carried out in the official African languages including English, French, Portuguese and Arabic, and over 40 percent of trained participants were women.

Commenting on the development, the CEO of the Tony Elumelu Foundation, Ifeyinwa Ugochukwu, said: “Every year,

our commitment to transform Africa is further strengthened with the passion, resilience and talent of the high-calibre entrepreneurs who onboard our flagship programme.

Our curricular provides a holistic opportunity for entrepreneurs to learn, grow and contribute to the development of their communities.”

She added: “Furthermore, it is a testament to the eagerness and readiness of African entrepreneurs across all of Africa to make themselves available to transform the continent for good.

“I would like to commend these entrepreneurs for their discipline, dedication and hard work throughout the training and look forward to the immense impact of their businesses across diverse sectors in Africa. We remain committed to empowering African entrepreneurs with the required resources and support that will ensure that their businesses can scale and drive sustainable change on the continent.”

Comercio Partners Eyes Banking Licence Comercio Partners Limited, an investment and financial advisory company has disclosed plan to secure either a commercial or merchant banking licence in the next three years.

This was disclosed during a media briefing that had the firm’s three Co-Managing Partners in attendance yesterday, to commemorate the company’s fifth anniversary.

The Co-Managing Partner/ Head, Investment, Tosin Osunkoya, said the move was part of the massive target set by the firm to drive growth and expansion despite the economic challenges in the country.

He also said the plan was to continue providing financial advisory and assets management services to domestic and international investors in the Sub-Saharan African Capital Markets that are interested in the new emerging frontier market in Nigeria.

According to him, “We are looking beyond 2021. The targets we set for ourselves for the next five years is for Comercio Partners to be a one- stop-shop and what that means is that as a client if you are looking to do

any kind of financial transaction or looking for financial services; Comercio Partners should be the first thought.

“So what we are looking at and we would try to do in the next five years is to capture the minds of the retail investing community, institutional investors, high networth investors and others. And how do we intend to achieve that? So, what we set out for ourselves is to set up an organogram where you would have different entities under a whole single structure.”

He further explained, “So we plan to have a regional bank or a merchant bank in the next two or three years, we also plan to retain those entities that are in existence right now. So you have the trading arm of the businesswhich is commercial trading, Comercio Asset management and Comercio Partners capital.”

He pointed out that the company’s participation in the last bond issuance by Lagos State was a reflection of its strength and capacity, adding that it conveyed a strong message to the market and further boosted its penetration in the industry.

The company conducts rigor-

ous research by utilizing both macro and micro analytical tools to generate statistical analysis of the prevailing market trends in achieving the stated goal of client asset appreciation.

Also, in his contribution, the MD/CEO, Comercio Partners Capital, Steve Osho, said the company would continue to unfold initiatives to impact its host communities.

“We are actually looking at how we can impact our communities in terms of social impact.

Last year we participated in a lot of CSR activities, especially during the lockdown that was occasioned by COVID-19.

“We participated in a crowd funding company to provide food items, house equipment AND materials for the less privilege in the society,” added.

Osho also said the company has continued to contribute towards inculcating financial literacy among children.

“Also, last year as part our contribution to the financial landscape of Nigeria, we concluded one of the landmark transactions in the financial capital market which was the Green bond,” he added.

Life Assurance Partners Avon Medical Heirs Life Assurance (HLA) has partnered Avon Medical to organise a blood drive in commemoration of the 2021 World Blood Donor Day. The event, which held Lagos had individuals present to donate blood for those in dire need of medical attention.

“This year’s edition, the first partnership between both companies, set out to increase awareness of the importance of safe blood for transfusion and highlight the critical role voluntary blood donors play in national health,” a statement explained.

The Chief Marketing Officer, Heirs Life Assurance, Ifesinachi Okpagu, said the partnership was in line with the company’s goal of promoting, not just the importance of life insurance, but wholesome living.

“At the core of our business operations at Heirs Life Assurance is care for people and their families and we are pleased to have demonstrated this with our partnership with Avon Medical.

“There are several statistics that show that blood donation is of much benefit to the end user as much as it is to donors and here today, we are raising awareness for the need to encourage this culture and celebrate as many that have come out to be superheroes,” she said.

Also, Head, Marketing and Corporate Communications at Avon Medical, Shekinah Olagunju, expressed delight over the partnership, describing it as laudable especially as it helps both companies further their commitment to building a healthier nation

and, in the process, improving the economy and transforming Africa; values held by the companies within the Heirs Holdings group portfolio.

“Since its official launch on Tuesday, June 1, 2021, Heirs Life has continued to actively push its offering of life insurance that is simple, quick, accessible, and reliable with its array of value adding products, served on several easy-to-use platforms.

“Heirs Life’s product offerings comprise of insurancebacked savings plans and life insurance security for individuals, families, children’s education, debtors, creditors, entrepreneurs, and employees.

“The company is backed by top-notch Reinsurers to provide second-layer security for its clients’ insurance portfolios,” it added.

Elumelu

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ ͯͲ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $71.99 a barrel on Monday, compared with $71.31 the previous Friday, according to OPEC Secretariat calculations.

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

SOURCE: OPEC headquarters, Vienna

41

T H I S D AY ˾ ͯʹ˜ ͰͮͰͯ

Ardova Plc Acquires Enyo to Emerge Largest Downstream Firm Goddy Egene Ardova Plc (AP) yesterday said it had reached an agreement to acquire a 100 per cent equity stake in Enyo Retail and Supply Limited (Enyo).

AP stated this in a corporate disclosure to the Nigerian Exchange Limited (NGX), which was a follow-up to the company’s statement earlier that it was positioning to purchase Enyo after the conclusion of a

due diligence exercise.

According to AP, by acquiring Enyo, it will become the largest downstream energy company in Nigeria, as it will add Enyo’s 95 existing stations to its existing portfolio of 450 stations nationwide, to bring the combined group to a network of 545 stations.

Chief Executive Officer of AP, Olumide Adeosun, also highlighted the synergistic benefits of the acquisition, saying: “On

P R I C E S MAIN BOARD

F O R DEALS

completion, this acquisition will lead to a stronger downstream energy group that benefits from the increased customer reach and service delivery excellence of both companies, with the combination expected to produce stronger financial results.”

AP and Enyo have indicated a commitment to close the transaction in the third quarter of 2021, following the satisfaction of agreed closing conditions and receipt of regulatory approval.

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

To this end, AP has appointed Stanbic IBTC Capital Limited and Banwo & Ighodalo as its financial and legal advisers, while Rand Merchant Bank and Herbert Smith Freehills Paris LLP are acting as financial and legal advisers to Enyo.

The company noted that the acquisition of Enyo was a pointer to both AP’s competitors and the investing public of its ambition to become Nigeria’s leading integrated energy company.

T R A D E D MAIN BOARD

A S

AP’s management has, since its 2019 takeover of Forte Oil and subsequent rebranding in 2020, successfully positioned the company to be more competitive in the downstream sector. The company has improved its efficiency, reduced costs of funds, and restructured its balance sheet to create a better runway for profitability. The recent announcement of the deal to be the sole-distributor of Shell lubricants and significant investments in

O F

liquefied petroleum gas (LPG) via construction of the largest LPG storage facility in Nigeria at Apapa and the deployment of LPG skids across its retail network, signal a company on its way through a transformational program of investments outside of conventional white products.

Meanwhile, trading at the domestic equities market opened the week on a negative note as the NGX All-Share Index fell by 1.7 per cent to close at

1 5 / 0 6 / 2 0 2 1 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

˾ WEDNESDAY, JUNE 16, 2021

Wednesday, June 16, 2021

s

Thisday Afrinvest 40 Index Fell by 3.4% The dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϯ͘ϰй ƚŽ ƐĞƩůĞ Ăƚ

THISDAY AFRINVEST 40 INDEX

1,649.29 points. This was driven by sell pressure on AIRTEL (-10.0%), GUARANTY (-1.4%), and UBA (-0.7%), . These

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϰϬ͘ϲй ŽĨ ƚŚĞ ŝŶĚĞdž͘

>ŽĐĂů ŽƵƌƐĞ KƉĞŶƐ ƚŚĞ tĞĞŬ EĞŐĂƟǀĞ͘​͘​͘ ^/ ĚŽǁŶ ϭ͘ϳй

Ticker

Current Price

THISDAY AFRINVEST 40

1,649.29

-3.36%

753.30

-10.0%

29.9%

74.00

0.0%

11.6%

-4.3%

28.50

-1.4%

8.8%

-11.9%

zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ĚŽŵĞƐƟĐ ĞƋƵŝƟĞƐ ŵĂƌŬĞƚ ǁĂƐ ŝŶ ƚŚĞ ƌĞĚ

1 Airtel Africa PLC 2 BUA Cement Plc

following sell-ŽīƐ ŝŶ AIRTELAF (-10.0%), ^d E / (-2.4%),

3 Guaranty Trust Bank PLC 4 Zenith Bank PLC

and GUARANTY (-1.4%). As a result, the All-Share Index fell 166bps to 38,507.33 points, YTD loss worsened to 4.4% ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ േϯϯϵ͘ϴďŶ to േϮϬ͘ϭƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ƐƚƌĞŶŐƚŚĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ Ϯ͘ϵй ĂŶĚ ϯ͘Ϭй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ Ϯϵϳ͘ϯŵ ƵŶŝƚƐ ĂŶĚ േϯ͘ϲďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ ǁĞƌĞ ^^ (43.1m units), ^d Z>/E' (33.2m units), and ZENITH (25.9m units) while UHOMREIT ;േϲϵϱ͘ϵŵͿ͕ ZENITH ;േϲϬϮ͘ϮŵͿ͕ ĂŶĚ MTNN ;േϯϴϭ͘ϱŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC 8 Lafarge Africa PLC 9 Access Bank PLC 10 United Bank for Africa PLC 11 FBN Holdings Plc 12 Nigerian Brew eries PLC

'ŽŽĚƐ ŝŶĚĞdž ĨĞůů Ϭ͘Ϯй ĨŽůůŽǁŝŶŐ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ

0.3%). Conversely, the Insurance and Banking indices rose Ϭ͘ϰй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ due to buying interest in D E^ Z (+2.3%), NEM (+3.9%), ^^ (+3.1%), and ZENITH (+0.9%). Also, the Oil & Gas index inched higher by

and Z ^d Z y (+4.2%) led gainers while AIRTELAFR (-

ƚŽ ƐƵƐƚĂŝŶ ŝƚƐ ďĞĂƌŝƐŚ ƉĞƌĨŽƌŵĂŶĐĞ ĂƐ ŝŶǀĞƐƚŽƌƐ ƚĂŬĞ ƉƌŽĮƚ͘

0.6x

5.6%

ot Applicable

2.1%

13.3%

-4.3%

19.1%

11.2%

35.5x

6.7x

2.5%

2.8%

-11.9%

26.6%

4.3%

4.1x

1.0x

10.5%

24.3% 31.8%

23.35

0.9%

6.8%

-5.8%

-5.8%

23.1%

2.9%

3.1x

0.7x

12.9%

230.00

0.0%

6.1%

-6.1%

-6.1%

32.0%

15.5%

12.9x

4.1x

7.0%

7.8%

163.00

0.2%

5.0%

-4.1%

-4.1%

97.1%

11.4%

14.6x

13.2x

5.8%

6.9% 3.5%

1,400.00

0.0%

4.0%

-7.0%

-7.0%

104.8%

17.8%

28.3x

37.9x

4.3%

21.10

0.0%

3.6%

0.2%

0.2%

8.8%

6.2%

10.6x

0.9x

4.7%

9.4%

8.45

3.0%

3.0%

0.0%

0.0%

16.4%

1.4%

2.6x

0.4x

9.6%

38.9%

0.3x

7.2%

11.1%

1.1%

3.8x

0.3x

6.3%

58.30

0.0%

2.3%

4.1%

4.1%

4.5%

1.8%

63.2x

2.9x

1.6%

1.6%

13 Stanbic IBTC Holdings PLC 14 International Brew eries PLC

40.00

-2.4%

1.9%

5.9%

-9.2%

20.7%

2.9%

7.1x

1.4x

8.4%

14.1%

5.40

-1.8%

1.5%

-9.2%

-9.2%

-15.5%

-3.4%

15 Flour Mills of Nigeria PLC 16 SEPLAT Petroleum Development C

29.70

-1.0%

1.3%

14.2%

14.2%

690.00

0.0%

1.9%

71.5%

17 11 PLC 18 Okomu Oil Palm PLC

0.0%

31 Custodian and Allied Insurance 32 AIICO Insurance PLC

71.5%

1.6%

0.9%

-100.0%

7.4%

3.2%

1.0x

-8.7%

0.8x

4.7%

40.6x

0.6x

6.0%

-9.4%

1.0%

15.9%

15.9%

24.6%

16.0%

12.8x

2.9x

6.6%

7.8%

0.9%

0.7%

-10.3%

-10.3%

11.4%

1.1%

2.3x

0.2x

9.7%

44.4%

13.8%

5.30

1.9%

0.6%

-11.7%

-11.7%

0.6%

0.0%

70.7x

0.2x

17.70

-0.3%

0.6%

0.6%

0.6%

25.5%

12.6%

7.3x

1.7x

8.5%

3.09

-1.0%

0.5%

-7.2%

-7.2%

4.9%

29.8%

1.60

0.0%

0.3%

-21.6%

-21.6%

9.2%

0.9%

4.0x

0.3x

3.1%

25.3%

14.45

-0.3%

0.4%

-0.3%

-0.3%

18.4%

5.8%

8.4x

3.1x

2.8%

12.0%

0.89

-1.1%

0.4%

-1.1%

-1.1%

-1.3%

-0.3%

0.5x

1.1%

-2.4%

74.00

-2.5%

0.3%

4.3%

4.3%

17.9%

7.3%

2.4x

2.8%

13.00

1.6%

0.2%

-6.5%

-6.5%

-6.2%

-4.1%

14.1x

1.2x

5.80

-3.3%

0.2%

9.4%

9.4%

-1.6%

0.3%

29.3%

29.3%

35.5%

4.2%

29.00

-0.2%

0.3%

52.6%

52.6%

-17.8%

-9.0%

5.95

0.0%

0.2%

1.7%

1.7%

25.0%

7.8%

3.0x

0.7x

1.10

-0.9%

0.2%

-2.7%

-2.7%

20.5%

3.3%

3.0x

0.2x

145.00

0.0%

0.2%

11.5%

11.5%

19.10

0.0%

0.2%

8.4%

8.4%

8.3%

1.1%

8.4x

-17.4%

3.00

0.0%

0.1%

0.0%

0.0%

1.7%

0.1%

-18.9%

1.4%

3.4x

6.09

37 Oando PLC 38 Notore Chemical Industries Ltd 39 Beta Glass PLC

1.7% 4.7x

1.5x

11.5%

0.9x 9.2%

33.1% 4.6%

0.6x

2.0%

11.9% 22.3%

-17.4%

8.4%

0.5%

4.5x

0.4x

7.0%

7.4%

0.9%

6.6x

0.7x

4.3%

-18.9%

14.5%

2.6%

1.3x

0.2x

7.6x

0.7x

0.0%

0.1%

0.0%

0.0%

-28.7%

-7.6%

0.0%

0.1%

-4.4%

-4.4%

9.3%

6.4%

3.57

0.0%

0.0%

-0.8%

-0.8%

-10.6%

-5.5%

1.9x

-16.8% 2.1%

0.6x

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

Vo lum e

P ric e C hg %

P ric e C hg % 9.7%

A C C ESS

43.1

3.0%

B ER GER

7.15

6.7%

ST ER LN B A N K

33.2

0.0%

R ED ST A R EX

3.23

4.2%

Z EN IT H B A N K

25.9

0.9%

N EM

1.87

3.9%

UA C N

22.9

-2.1%

WA P IC

0.57

3.6%

UH OM R EIT

19.0

0.0%

15.5

-0.7%

N EIM ET H

1.78

3.5%

UB A

A C C ESS

8.45

3.0%

M A N SA R D

12.6

2.3%

UA C -P R OP

0.81

2.5%

D A N GSUGA R

11.5

-0.3%

M A N SA R D

0.90

2.3%

F ID ELIT YB K

7.0

0.9%

H ON YF LOUR

1.35

2.3%

WEM A B A N K

5.7

0.0%

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

T o p 10 L o s e r s P ric e C hg %

A IR T ELA F R I

753.30

-10.0%

OKOM UOIL

T ic k er

Value

P ric e C hg %

UH OM R EIT

695.9

0.0% 0.9%

105.50

-9.4%

Z EN IT H B A N K

602.2

C OR N ER ST

0.50

-9.1%

M TNN

381.5

0.2%

LEA R N A F R C A

0.92

-8.0%

A C C ESS

359.5

3.0% -2.5%

1.81

-4.7%

P R ESC O

268.2

VER IT A SKA P

0.23

-4.2%

UA C N

216.8

-2.1%

A F R IP R UD

6.05

-4.0%

D A N GSUGA R

203.6

-0.3%

J A P A ULGOLD

0.52

-3.7%

UB A

110.6

-0.7%

-3.3%

GUA R A N T Y

102.8

-1.4%

-2.5%

ST A N B IC

90.1

-2.4%

Brokerage

74.00

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com Robert Omotunde | romotunde@afrinvest.com Abiodun Keripe | AKeripe@afrinvest.com Taiwo Ogundipe | togundi-

13.1% -22.5%

1.24

P R ESC O

15.1% 77.4%

P ric e

5.80

33.0%

4.2%

-100.0%

62.50

21.5% -22.4%

21.9x

52.95

P ric e

7.1% -5.3%

C WG

PZ

2.5%

2.26

0.57

T ic k er

26.1%

105.50

35 Wema Bank PLC 36 Union Bank of Nigeria PLC

LIVEST OC K

Afrinvest West Africa Limited

3.5%

0.7%

10.0%), OKOMUOIL (-9.4%), and KZE Z^dKE (-9.1%) led decliners. In the next trading session, we expect the market

3.6%

10.0%

T o p 10 G a in e r s

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

while 26 stocks declined. t' (+9.7%), BERGER (+6.7%),

15.4%

-11.6%

-17.9%

T ic k er

orded in the last trading session as 19 stocks advanced

64.9%

-11.6%

0.7%

Ϭ͘ϭй ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ďĂƌŐĂŝŶ ŚƵŶƟŶŐ in OANDO (+1.7%).

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϳdž from 1.6x rec-

12.4%

-17.9%

40 Transcorp Hotels Plc

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ tĂŶĞƐ

5.3x

Divindend Earnings Yield Yield

2.4%

33 Total Nigeria PLC 34 Julius Berger Nigeria PLC

INTBREW (-1.8%), FLOURMILL (-1.0%), and E'^h' Z (-

P/BV

2.6%

28 PZ Cussons Nigeria PLC 29 United Capital PLC 30 Guinness Nigeria PLC

to sell-ŽīƐ ŝŶ AIRTELAF (-10.0%). Similarly, the Consumer

P/E

0.0%

26 Presco PLC 27 Unilever Nigeria PLC

ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ &Z-ICT index led laggards, down 4.8% due

ROA

-0.7%

23 Sterling Bank PLC 24 NASCON Allied Industries PLC 25 Transnational Corp of Nigeria

as 3 indices gained, 2 lost while the Industrial Goods index

ROE

7.10

21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

Across sectors under our coverage, performance was mixed

Price Change Index to Date

7.20

19 Fidelity Bank PLC 20 Ecobank Transnational Inc

DŝdžĞĚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

Price Previous Change Current Price YTD Weighting Change

Christopher Omoh | comoh@afrinvest.com

43

WEDNESDAY, JUNE 16, 2021 ˾ T H I S D AY

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 11Jun-2021, 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 154.71 156.24 -4.37% Afrinvest Plutus Fund 100.00 100.00 4.17% Nigeria International Debt Fund 304.19 304.19 -23.79% Afrinvest Dollar Fund 111.33 111.33 -0.68% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A 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 5.56% AIICO Balanced Fund 3.29 3.34 -8.77% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 4.92% Anchoria Equity Fund 130.66 132.10 -1.77% Anchoria Fixed Income Fund 1.06 1.06 -20.13% 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 19.15 19.73 5.61% ARM Discovery Balanced Fund 417.82 430.42 4.36% ARM Ethical Fund 37.82 38.96 12.19% ARM Eurobond Fund ($) 1.08 1.09 -11.23% ARM Fixed Income Fund 0.96 0.96 -14.54% ARM Money Market Fund 1.00 1.00 4.91% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 104.59 104.59 2.83% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 129.91 130.56 2.86% AXA Mansard Money Market Fund 1.00 1.00 9.26% CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.95 1.95 -21.10% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.03 2.07 -17.99% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 4.83% Paramount Equity Fund 16.08 16.37 0.53% Women's Investment Fund 133.36 134.75 0.15% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 5.86% Cordros Milestone Fund 2023 116.63 117.40 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 106.77 106.77 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 4.31% Coronation Balanced Fund 1.19 1.21 -0.59% Coronation Fixed Income Fund 1.36 1.36 -14.03% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 2.96% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.97% EDC Nigeria Fixed Income Fund 1,161.90 1,170.76 -2.93% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,375.29 1,375.29 11.05% FBN Balanced Fund 186.82 188.00 -0.46% FBN Halal Fund 109.87 109.87 5.93% FBN Money Market Fund 100.00 100.00 7.90% FBN Nigeria Eurobond (USD) Fund - Retail 125.43 125.43 3.48% FBN Smart Beta Equity Fund 156.30 158.42 3.38% 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 N/A N/A N/A Legacy Debt Fund N/A N/A N/A Legacy Equity Fund N/A N/A N/A Legacy USD Bond Fund N/A N/A N/A FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 3,627.80 3,677.82 -3.12% Coral Income Fund 3,358.16 3,358.16 2.50% Coral Money Market Fund

100.00

100.00

5.57%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 6.45% Vantage Balanced Fund 2.82 2.89 23.11% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 149.72 150.16 -3.66% Vantage Equity Income Fund (VEIF) - June Year End 1.25 1.29 32.44% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 6.41% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.38 1.40 1.39% Lotus Halal Fixed Income Fund 1,142.89 1,142.89 3.47% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 10.94 10.97 4.37% Meristem Money Market Fund 10.00 10.00 6.58% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.62 1.64 7.37% PACAM Fixed Income Fund 11.44 11.49 -5.74% PACAM Money Market Fund 10.00 10.00 3.94% PACAM Equity Fund 1.62 1.63 2.19% PACAM EuroBond Fund 110.90 112.55 0.88% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.90 127.71 6.46% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 3.21% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,170.45 3,195.93 -1.41% Stanbic IBTC Bond Fund 230.33 230.33 2.44% Stanbic IBTC Ethical Fund 1.19 1.21 1.69% Stanbic IBTC Guaranteed Investment Fund 302.17 302.17 2.55% Stanbic IBTC Iman Fund 221.35 223.97 1.27% Stanbic IBTC Money Market Fund 100.00 100.00 6.70% Stanbic IBTC Nigerian Equity Fund 10,457.50 10,589.16 -0.43% Stanbic IBTC Dollar Fund (USD) 1.26 1.26 2.51% Stanbic IBTC Shariah Fixed Income Fund 114.05 114.05 2.67% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 101.51 101.51 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.36 1.38 -0.65% United Capital Bond Fund 1.95 1.95 2.91% United Capital Equity Fund 0.92 0.95 6.88% United Capital Money Market Fund 1.00 1.00 7.92% United Capital Eurobond Fund 121.04 121.04 3.33% United Capital Wealth for Women Fund 1.10 1.12 1.86% United capital Sukuk Fund 1.05 1.05 5.32% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.69 12.80 6.97% Zenith Ethical Fund 13.99 14.11 14.48% Zenith Income Fund 24.11 24.11 0.56% Zenith Money Market Fund 1.00 1.00 5.73%

REITS NAV Per Share

Yield / T-Rtn

123.83 51.43

2.56% -1.85%

Bid Price

Offer Price

Yield / T-Rtn

12.89 124.71 98.17 17.44 17.45

12.99 124.71 99.95 17.54 17.55

-2.44% 2.44% -1.24% -

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.71 5.63 17.15 1.00 19.43 161.36

3.75 5.71 17.25 1.00 19.63 163.36

-1.88% -1.05% 4.84% 3.86% -5.31% -26.29%

NAV Per Share

Yield / T-Rtn

107.52

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

44

WEDNESDAY JUNE 16, 2021˾ T H I S D AY

NEWSXTRA

Malabu Deal: Italy Orders Probe of Eni, Shell’s Prosecutors for Allegedly Hiding Evidence Davidson Iriekpen with agency report The Italian Ministry of Justice yesterday ordered an inquiry into the conduct of two prosecutors in a corruption case over Eni and Shell’s acquisition of oil prospecting licence (OPL) 245 in Nigeria.

The ministry accuses the prosecutors of hiding vital evidence that would have exonerated Eni. In 2011, Royal Dutch Shell and Eni paid $1.3 billion to purchase an offshore oil field (OPL 245) from Malabu Oil and Gas, a company former Minister of Petroleum, Dan Etete, had major shares in.

It was alleged that about $1.1 billion was siphoned off to politicians and middlemen.

But an Italian court

acquitted Shell, Eni and other defendants of corruption charges in the oil deal, after more than three years of court appearances.

According to Reuters, Milan prosecutors Fabio De Pasquale and Sergio Spadaro were placed under official investigation by magistrates earlier this month for allegedly failing to file documents that would have supported Eni’s position.

The justice ministry, in a statement, said that it had decided to move in the wake of the judicial investigation and following criticism of the pair by the trial judges.

“The ministry has asked the inspectorate to carry out preliminary investigations to correctly reconstruct the facts by acquiring the necessary documents,” it said.

In papers filed on June 9,

the judges criticised the way the prosecutors had carried out their work, saying they had failed to file with the trial documents a video shot by a former Eni external lawyer, which they said was relevant to the case.

Reuters reported that De Pasquale and Spadaro declined to comment on the latest development.

However, Milan’s attorney general said he supported the two men.

Meanwhile, Mohammed Bello Adoke, who was the Nigerian attorney-general when the deal was signed in 2011, had earlier alleged that the Italian prosecutors hid vital evidence from the court which would have exonerated him of alleged bribery in the transaction.

Al-Mustapha: How Abacha Died Chuks Okocha in Abuja Former Chief Security Officer (CSO) to the late Head of State, General Sani Abacha, Major Hamza Al-Mustapha (rtd), has dismissed insinuations that the military ruler died after eating an apple from his concubines.

Giving a detailed account on how Abacha died, Al-Mustapha said contrary to insinuations, the sudden collapse of the health system of Abacha started on June 7, 1998, right from the Abuja International Airport, immediately after one of the security personnel, who accompanied President Yasser Arafat of Palestine shook hands with him.

Giving account of the incident, the former CSO to the Abacha said: “Shortly after the hand shake, I noticed the change in the countenance of the late Commander-in-Chief, and I immediately informed the Aide-de-Camp, Lt. Col. Abdallah, who advised that we keep a close watch on him.

“Later in the evening of June 8, 1998, around 6 p.m., his doctor came around and administered an injection to stabilise him. He was advised to have a short rest.

“Happily enough, by 9p.m., he was bouncing and receiving visitors until much later when General Jeremiah Useni, the then minister of the Federal Capital

Territory (FCT), came to see him. He was fond of the Head of State. They were very good friends. They stayed and chatted together till about 3.35a.m.”

Al-Mustapha continued: “A friend of the house was with me in my office and as he was bidding me farewell, he came back to inform me that the FCT Minister, Useni, was out of the Head of State’s Guest House within the Villa.

I then decided to inform the ADC and other security guards that I would be on my way home to prepare for the early morning event at the International Conference Centre.

Abia Royal Fathers Cry Out over Army Siege, Grounding of Socio-economic Activities Emmanuel Ugwu-Nwogoin Umuahia Royal fathers and opinion leaders in Ohafia community, Abia State, have cried out over the siege laid on their community by the Nigerian army and other security agencies that have paralysed the community’s economic and social activities and created internally displaced persons (IDPs).

The royal fathers voiced their

concern yesterday in an eight-point communiqué, which was issued after a security meeting that involved the Council of Ohafia Monarchs, leading members of the Ohafia Improvement Union (OIU) and the Ohafia leaders of thought at the Udumeze Palace.

The communiqué was signed by the Paramount Ruler, the Udumeze of Ohafia, Professor E.U.L. Imaga and four other royal fathers, including the H.R.M. Ezieogo

Emmanuel Kalu Kalu Onugu (Ezieogo Asaga), the H.R.M. Ezieogo Mba Odo Okereke (Ezieogo Akanu), the H.R.M. Ezieogo Awa Nwankwo (Ezieogo Amaekpu) and the H.R.M. Ezieogo Mmecha Ugbu Mmecha (Ezieogo Amangwu).

The royal fathers expressed utmost concern over the heightened insecurity situation in Ohafia that has resulted in series of harassment and intimidation of law abiding residents of Ohafia by security agencies.

Ganduje Orders Headcount of Herdsmen in Kano Ibrahim Shuaibu in Kano Kano State Governor, Abdullahi Umar Ganduje, has set up a committee of experts and concerned stakeholders to take stock of all herdsmen in the state.

Ganduje explained this during an interactive session at the Abubakar Rimi Television (ARTV), last Monday night, with other local radio stations-Pyramid FM, Radio Kano, Rahama Radio and Express Radio.

The governor assured the people that he would not relent in his effort to see that the state

remains peaceful.

According to him, “We want to know how many herdsmen we have in Kano State. That is why we set up a Fulani and other Stakeholders Committee to take a stock of all our herdsmen in the state, and those that are not in the state presently, but are from Kano State.

“We want to see how we can integrate them into the larger society. They should also come and feel the presence of governance.

Knowing their number will help us formulate good policies for their welfare and that of the society

in general.”

Ganduje said his commitment to a more peaceful society informed his administration’s policy of establishing the Ruga Project at Dansoshiya forest.

At Dansoshiya, the governor disclosed: “We have started discussion with experts to grow grass that will be used in feeding cattle. Before this, we have provided some residential areas, a good system of water supply and other facilities for herders, and they have since started relocating to Dansoshiya.”

WEDNESDAY JUNE 16, 2021, ˾ T H I S D AY

45

NEWS

UNICEF Raises the Alarm over Kidnapping of Children in Northern States Ibrahim Shuaibu in Kano The United Nations Children’s Fund, (UNICEF) has condemned in strong terms, the incessant kidnappings of children in Kano State and other parts of northern Nigeria.

The Chief of Field Office, UNICEF Field Office, Kano, Mr. Maulid Warfa, made the condemnation yesterday during the Partnership and Network Strengthening Meeting with Kano media at the Horizon Hotel.

Warfa described the increased kidnapping of children as a heartbreaking disaster that needed urgent government’s intervention.

He pointed out the worrisome issue of kidnappings and child labour in northern Nigeria and noted that the UNICEF lacked

Kill Bandits Before They Kill You, Uzodinma Tells Security Operatives Imo State Governor, Senator Hope Uzodinma, has told security operatives in the state not to spare any bandits in the fight against insecurity.

Uzodimma, who spoke while on a condolence visit to the headquarters of the State police command in Owerri, the state capital yesterday, asked policemen to go after the bandits before they get to them.

He said: “You are the only ones constitutionally empowered to carry a gun.

“And then you allow somebody called bandit who is not licensed to carry a gun to come to your station and kill you.

“Kill them before they come near to kill you.”

Uzodimma said his administration would introduce an insurance policy for all the security operatives serving in the state.

The governor also disclosed that his administration was putting together a welfare programme where all the family members of those who died during the unrest in the state would be compensated.

Assuring that the state government would improve the security situation in the state, Uzodimma, pledged to increase the logistics the police required to police the state well.

The governor said his administration would not abandon the families of the slain officers.

He also commended the state Commissioner of Police, Abutu Yaro, for improving the security situation in the state in the past six weeks, while handing over six operational vehicles to the command.

Speaking earlier, the Commissioner said that Uzodimma was the only governor to have paid the police such a condolence visit.

He said that the morale of the policemen has been boosted by such visit and pledged, on behalf of officers and men, to be more committed to their job.

Earlier on arrival, the governor had signed a condolence register and later commissioned some vehicles he donated to the police to fight crime in the state.

the power to stop it but would support government’s policies on child rights.

“We condemn in strongest terms the incessant kidnappings of children and child labour in Kano State and northern Nigeria.

“In my life, I have never ever seen mass kidnappings of a number of children like this. We, therefore, call on the government to urgently address the problem.

“The UNICEF is not a government. We don’t have the power; we don’t have the arms to stop these kidnappings. We just support the government’s policies. We can only support the victims of kidnappings and child labour, especially when they are traumatised, to overcome that problem,” Warfa said.

He also described the almajiri

issue as “complicated and multifaceted,” and commended the Kano State Government for its resolve to integrate the almajiris into the state’s formal education system.

Warfa said that the UNICEF

is working with the Kano State’s Ministries of Women Affairs and Education as well as the Governor’s Office to ensure that children are integrated into formal education in the state.

“It is a long-term programme.

It will indeed take time before it is modernised due to the fact that there are social, cultural, religious and financial issues.

“The same method is applied to child labour and child hawking. We are making an effort, in collaboration

with the state government, to ensure these problems are mitigated.

“We always go out to the authorities and policy makers in a bid to find lasting solutions to all problems bedeviling the children,” he said.

APC Membership Hits over 40m, Says Party Adedayo Akinwale in Abuja The Caretaker/Extraordinary Convention Planning Committee of the All Progressives Congress (APC) has revealed that it has registered over 40 million members.

The National Secretary of the party, Senator John Akpanudoedehe, said its new

membership base is already ‘dwindling the fortunes, in the Peoples Democratic Party (PDP).

He said while the “PDP continues to clutch on straws as it sinks into political oblivion, the APC-led federal government and states governed by the APC are busy providing critical infrastructure, expanding access to education, providing health facilities and

economically empowering the citizens.”

Akpanudoedehe said: “The sinking PDP is panicking due to its dwindling fortunes, as the APC registered members hit over 40 million, with PDP members, including governors, leaving the party in droves and joining the APC.” He noted that PDP governors

have prioritised their frequent weekend jamborees, with the recent one held in Akwa Ibom State, where he said they waste scarce state resources.

The APC secretary stressed that some of the PDP governors owe workers’ salaries and have refused to pay pensioners, adding that the cases of Benue and Taraba States stand out.

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Govs: Bandits Have Stopped Niger Students, Farmers from Schools, Farms, Respectively Dipo Laleye in Minna Niger State Governor, Mr. Abubakar Bello has raised the alarm that bandits have stopped students from going to schools and farmers from going to farm in the state.

He has also launched the Niger

Special Vigilante Corps aimed at checking the activities of youth gangs, especially those operating in Minna.

Bello launched the Special Vigilante Corps at the Police Headquarters, Minna, with members of the group drawn from nine different local security outfits.

According to the governor, “While the security agencies were battling with bandits in the rural areas, a new dimension came in Minna which is unacceptable. We have situation where we have youth gangs fighting themselves,

creating injuries on travellers; that is totally unacceptable”.

Bello urged parents to live up to their responsibility through good parenting.

“Bandits have forced us to change our way of life in Niger

State; they stopped our children from going to school, stopped us from travelling on our roads, stopped farmers from going to farm and now, they are trying to stop our children from going to Islamic school.

“But we will not be intimidated; we will not allow that to happen.

We will continue to live our normal lives,” he said.

The governor, however, vowed that the people of the state would not be intimidated.

Katsina to Spend N74bn on Construction, Rehabilitation of 1,378km Roads Francis Sardauna in Katsina The Katsina State Government has said it will spend N74 billion on the ongoing construction and rehabilitation of 1,378 kilometres of roads across the state to abate transportation challenges faced by rural dwellers.

The state Commissioner for Works and Housing, Mr. Tasi’u Dandagoro, who revealed this to journalists shortly after the state Governor, Aminu Bello Masari, inspected the ongoing roads projects in Daura zone, said the present administration inherited numerous road projects from previous governments.

According to him, “We have inherited quite a number

of projects, out of which this government has completed 13 where we spent a total of over N6.1 billion to complete them.”

He explained that the Masariled government awarded 71 road projects across the state, which include 39 rural feeder roads with a total distance of 461 kilometres that would gulp over N2.8 billion when completed.

The commissioner said: “The total number of roads that are under construction by the present administration, when completed, the state government would have spent a total of about N74 billion for the construction and rehabilitation of 1,378 kilometres of roads across the state.

APGA Leadership Remains Intact, Says Oye David-Chyddy Eleke in Awka The All Progressive Grand Alliance (APGA) has dismissed move by some persons it described as political buccaneers, to remove the national leadership.

In a statement issued yesterday by its National Publicity Secretary, Mr. Tex Okechukwu, APGA said it convened a NEC meeting of the party or any other meeting of the party yesterday.

The statement said: “Our attention has been drawn to an unfortunate incident that happened today (yesterday) on AIT live broadcast where a band of political buccaneers and misfits gathered under the guise of NEC of All Progressives Grand Alliance (APGA) to purportedly announce the suspension of our revered National Chairman, Ozonkpu Victor Ike Oye, and some national officers of the party.

“We wish to state without any equivocation as follows: ‘That the so-called Jude Okeke and his cohorts are not officers or financial members of our great party, and therefore, did not have any powers to speak on behalf of the party.

“That there was never a time our national chairman, Oye, convened a NEC meeting of the party or any other meeting of the party for that matter “That in accordance with Article 13 of the constitution of APGA 2019, only the national chairman of the party could convene meetings of NWC, NEC and national convention. As we wrote, no such meeting had been convened.”

The party said the Supreme Court had made it expressly clear that only the national convention of a political party could remove the national chairman of a registered political party

Ita-Giwa Seeks FG’s Support for C’River Industrial Revolution Sunday Okobi In her efforts to help boost the economy of Cross River State, former Presidential Adviser on National Assembly Matters, Senator Florence Ita-Giwa, has called on the federal government and other stakeholders to give massive support to the ongoing industrial revolution in the state being pioneered by Governor Ben Ayade, “despite the little resources available to him.”

The state’s ambassador of industrialisation in a statement signed by her yesterday stated that the governor has embarked on many industrial

drives, “which the state cannot achieve alone, but with a complimentary support from the federal government and other stakeholders from the private sector, the state would occupy a more vantage position economically.”

She added that the governor’s vision for the state has manifested in different sectors-health, agriculture, education, infrastructure-and that the industrialisation going on in the state has already created many jobs for the youths and women alike, hence the need for the state to get more financial and technical support to realise its noble drive.

DIPLOMATIC VISIT…

L-R: Secretary, Korean Embassy, Nigeria, Mr. Kin Chon; National Secretary, All Progressives Congress (APC) Caretaker Extra-ordinary National Convention Planning Committee, Senator James Akpanudoedehe; Ambassador of the Democratic Republic of Korea (DPRK) to Nigeria, Mr. Jon Tongchol; and Director of Administration, APC, Mr. Abubakar Suleiman, during a courtesy visit by the ambassador to the APC national secretariat in Abuja… yesterday ENOCK REUBEN

APC Administration Has Failed in Kaduna, Says PDP JohnShiklaminKaduna The Peoples Democratic Party (PDP) in Kaduna State yesterday said the All Progressives Congress (APC) government in state led by the state Governor, Nasir El-Rufai, has not lived up to the expectations of the people.

In a statement issued yesterday, the spokesman of the PDP in the state, Abraham Catoh, said the APC administration in state has been characterised by “anti-people’s policies, banditry and kidnappings for ransom.”

The statement urged the state government to “change its approach to governance and give the people of the state the much anticipated dividends of democracy.”

Catoh said the essence of government is to meet the basic needs of the people, alleging that in the past six years, the APC administration had subjected residents of Kaduna State to hardship.

The statement lamented the high rate of insecurity in the state occasioned by the invasion of communities, killings and

abductions for ransom, adding that the state has become very insecure as a result of activities of bandits.

“It is appalling that in Kaduna State our political history in the past six years under the APCled government is dominated by anti-people policies, militia activities, banditry and kidnapping for ransom.

“Bandits are holding sway in territories. The people are going through dehumanising experiences intheirlives;therateatwhichpeopleare being killed appears as if we don’t have a proactive government, but very quick

in issuing empty statements provoking the bandits, a situation which has helped to worsened the situation,” the PDP said.

PDP in the statement also condemned the sacking of thousands of civil servants by the state government and at the same time increasing school fees in state owned tertiary institutions.

Catoh said: “As it is now, if a section of the people is not crying over insecurity and untold hardship, they are struggling to contend with sack from their work place.

Police Rescue One, Recover TwoVehicles in Foiled A’Ibom Robbery Attack Okon Bassey in Uyo One person was yesterday rescued by the Police in Akwa Ibom State during an armed robbery attacked in Ibesikpo Asutan Local Government Area of the state.

The state Police Command in a statement issued yesterday

said two stolen vehicles have also been recovered.

The police explained that the armed robbery victim was rescued based on a distress call received at about 12 a.m. of an ongoing armed robbery attack at Drainage View Hotel, Nung Oku in Ibesikpo Asutan LGA. The statement signed by the

state Police Public Relations Officer (PPRO) of the SP Odiko MacDon, said operatives of Ibesikpo Asutan Division, Quick Intervention Unit (Q.I.U) and Anti-Kidnapping Squad were swiftly mobilised to the scene, which was invaded by unidentified hoodlums.

“On sighting the police

operatives, hoodlums started shooting, and escaped through the back fence abandoning a black Toyota Hilux with Registration number BWR 561 HK, which was reported to have been stolen at gunpoint at Ultimate Filling Station in Ibesikpo Asutan on May 29, 2021, at about 11.45a.m,” he said.

Dangote Disburses N4.3bn for Women Empowerment Programme Segun Awofadeji in Bauchi The Aliko Dangote Foundation (ADF) has doled out a whooping N4.2billion as part of its unconditional Micro Grant Programme for empowering women in the rural areas across the country.

Speaking at the flag-off of its one-off unconditional Micro-grants

Programme yesterday in Bauchi, Africa’s richest man and Chairman of Dangote Group, Alhaji Aliko Dangote, represented by the company’s Group Executive Director, Government and Strategic Relations, Mr. Mansur Ahmed said so far over 400,000 poor women have benefited from the programme in the country.

He said in Bauchi State,

N200million is currently being disbursed to vulnerable women across the 20 Local Government Areas.

According to the Africa’s top philanthropist, the unconditional micro grant is aimed at supporting the government effort’s in empowering poor families in the State.

He said the Foundation had

earmarked N10billion to be disbursed to vulnerable women across the 774 Local Government Areas in the country.

Dangote, who is the Founder of the Foundation, said states that have also benefitted from the scheme include: Lagos, Kano, Jigawa, Kogi, Adamawa, Borno, Yobe, Niger, Nasarawa, Sokoto, Katsina and Kwara.

Obiano: Discriminating against Albinos is Human RightsViolation David-Chyddy Eleke in Awka Anambra State Governor, Chief Willie Obiano, has stated that discriminatory practices against people living with Albinism amounts to human rights violation.

The governor added that he would not hesitate to punish anyone found in such act, just

as he called on the society to see albinos as normal being, who should be accorded all rights due any citizen.

The governor stated this at an event to mark the International Albinism Awareness Day 2021, which was put together by his Senior Special Assistant on Media, Chidinma Oramali.

Obiano, who was represented by the state Commissioner for Information and Public Enlightenment, Mr. C. Don Adinuba, said: “Anambra State remains an example of what we call solidarity with human family.

“That is why we will not tolerate any form of discriminatory practices against people living with albinism

or any other group of people who require special attention.

“People living with Albinism require a certain level of assistance to be able to do certain things. To create a more human society, we have the obligation to work in solidarity with people like them and not to discriminate against them.

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WEDNESDAY JUNE 16, 2021 ˾ THISDAY

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

African Champions Super Falcons Dare World Champions USA Duro Ikhazuagbe African champions the Super Falcons will face their biggest test in a very long time when

they take on world champions USA in a final game of the Summer Series early morning (2am Nigerian time) of Thursday in Austin, Texas.

AFN Takes Delivery of PUMA Kits Ahead Tokyo Olympics The faction of the Athletics Federation of Nigeria (AFN) board led by Ibrahim Shehu Gusau has taken delivery of a huge consignment of kits from PUMA International sportswear for athletes and officials ahead of the 2020 Olympic Games in Tokyo.

The consignment which includes track suits, vests, shoes, back packs, wheel bags, face masks and others items whose open market price runs into millions of Naira was delivered to the body on Sunday, 13 July, 2021.

Gusau said on Tuesday that the shipment which is part of the 2019 partnership signed between AFN and the German multinational Corporation in Doha, United Arab Emirates was received on June 12, 2021.

The factional AFN President who on Monday in Kebbi was re-elected for another term of four years, expressed satisfaction with the timely delivery of the kits.

“Having these kits on ground before the Olympic Games is really a morale booster. The Federal Government and the AFN can now focus on other

things in the quest to get the best out of our athletes at the games.

“This has been one of our cardinal points when we came on board in 2017 with a promise to reduce the direct financial demands on government.

Having Puma on board is massive and we hope to build on this in future,” observed Gusau.

He said plans for the official unveiling of the Puma kits will be announced soon.

Puma who are one of the leading sportswear companies in designs and manufacturing of athletics and casual foot wears, apparels and accessories, is headquartered in Herzogenaurach, Bavaria, Germany.

So far, Ese Brume (Women’s long jump), Amusan Tobi (Women’s 100m hurdle), Blessing Okagbare (Women’s 100m/200m), Divine Oduduru (Men’s 100m/200m), Raymond Okevwo (Men’s 100m), Utseorise Itsekiri (Men’s 100m) and Chukwuemeka Enekwechi (Men’s shot put) have all qualified for the Olympics.

Sports Minister Sets Agenda for Newly Elected AFN Board The Minister of Youth and Sports Development, Sunday Dare, has charged the newly elected board members of the Athletics Federation of Nigeria (AFN) to be focused and remain above board in the discharge of their responsibility.

The Minister gave the charge on Tuesday in Abuja when he inaugurated the newly elected board led by Tonobok Okowa.

In his words, “This is indeed a new dawn for track and field in Nigeria as exemplified by the way you conducted your elections strictly in accordance with the 2017 constitution of your federation as recommended by both World Athletics and the Confederation of African Athletics (CAA).

“This shows a new seed

of hope has germinated to replace some of the rotten seeds sowed some four years ago. You must avoid the pitfall of the past and follow not just the constitution of the AFN, but also work within the laws of our sovereign country, Nigeria”.

The sports minister assured them that the Federal Ministry of Youth and Sports Development will continue to support the newly elected executive to take the AFN to greater height.

Responding, the newly elected AFN President, Tonobok Okowa, thanked the Ministry for the support and reiterated his commitment to make the welfare of athletes, coaches and officials as priority as well as to unite the federation devoid of sentiments.

The Falcons are ranked 38th in the FIFA Ranking, while the USA are No 1 in the world.

The teams have clashed thrice with the US winning all the games.

The Americans first thumped Nigeria 5-0 in 2003 and four years later beat their opponents 1-0.

The last meeting between the two teams was at the 2015 World Cup, where the US again edged past the Africans 1-0.

At the Summer Series, the Americans have won their first two matches, 1-0 against Portugal and 4-0 against Jamaica.

Nigeria, on the other hand, were upset 1-0 by the Reggae Queens of Jamaica, who are ranked 51st in the world, before they held Portugal to a thrilling 3-3 draw.

The Falcons will be buoyed by their comeback against the Portuguese.

“We kept pushing and

pushing, this is something we can build on and make us better,” coach Randy Waldrum celebrated the Falcons fightback reports Scorenigeria.com.ng.

“It showed that we are a very good team who can fight and comeback.

“We’re always in the game till the last whistle.”

However, Waldrum is also the first to warn that the team’s defence must rise to the occasion if they were to contain world

champions.

“We have to clean things defensively because if we don’t, we will be in some real trouble with the US,” he cautioned.

“We have to correct our lapses because the US team can expose you in so many different ways.”

Vastly experienced Onome Ebi shored up the “disorganised” defence in the Portugal game, but the absence of Osinachi Ohale is still a sore point for the back four.

Super Falcons training at the brand new Q2 Stadium in Austin, Texas ahead of clash with hosts USA in the Summer Series Tournament early hours of Thursday

Sanwo-Olu Hails Oshodi’s Election as ATTF’s Deputy President Lagos State Governor, Babajide Sanwo-Olu, has congratulated former Lagos State Commissioner for Sports and Ex-President, Nigeria Table Tennis Federation (NTTF) Wahid Enitan Oshodi on his election as Deputy President of the African Table Tennis Federation (ATTF).

Governor Sanwo-Olu in a statement issued yesterday by his Chief Press Secretary, Mr. Gboyega Akosile, to felicitate with Oshodi, said the elevation of the

ex-President of NTTF to continental level is well deserved.

Oshodi was unanimously elected as the Deputy President of the African Table Tennis Federation (ATTF) at the recent virtual General Assembly of the continental body.

Governor Sanwo-Olu in his message, said Oshodi deserves the continental position, having contributed immensely to the growth and development of sports, especially the tennis federation at national and

international levels.

Sanwo-Olu also congratulated Egypt’s Khaled El-Salhy on his re-election for a third term in office as the President of ATTF, as well as other new officers of the African sports body.

He said: “On behalf of the Lagos State Government and millions of Lagosians, I felicitate with a worthy citizen of our dear State, Wahid Enitan Oshodi on his election as the Deputy President of the African Table Tennis Federation.

“The elevation of Oshodi to

the position of Deputy President of ATTF is good news to us in Lagos. He really deserves the elevation, having distinguished himself in the sports industry, especially at the table tennis federation with high level of professionalism and integrity.

“We are proud of him and we believe that he will use his new position to lift the fortune of table tennis and raise the bar of the sport in Africa to compete with the rest of the world,” concludes the statement from Lagos State.

Kamaru Usman Thrilled in Unforgettable CSR Experience Feeding 1000 Kids UFC welterweight champion, Kamaru Usman, who is visiting Nigeria for the first time in 20 years has been involved in Corporate Social Responsibility (CSR) activities aimed at giving back to the country of his birth.

The Auchi, Edo State-born professional mixed martial artist explained that giving back was a big deal for him, given how Nigerians have followed his career in the octagon since switching from amateur wrestling.

Kamaru was a sight to behold in Lagos, as he engaged with

indigent children in the slums of Lagos through the Lagos Food Bank organisation.

During his visit to the Lagos Food Bank warehouse last Sunday, the Nigerian Nightmare as he’s fondly called, singlehandedly distributed food to an excited 1000 indigent children.

A delighted Michael A. Sunbola, founder, Lagos Food Bank, said it was an incredible feeling to partner a global brand like Kamaru Usman to feed vulnerable children.

“His physical presence at the field did not only show his support but will also bring more publicity to what we do which in turn will feed more food-insecure children. We look forward to more collaboration with his team in future, he noted.

According to Kamaru: “Being born in a place like Nigeria helped mould me into the man I am today.”

He has fond memories of his Nigerian childhood experiences including helping his mother, a school teacher and shop-owner

to hawk items. “ I help to to farm, grow the food they ate and hawk ‘’fufu’’ on the streets.

“I walk several miles with my grandmother to fetch water from a well,” he recalled with nostalgia.

The UFC welterweight champion is humbled by the country’s love and support and now plans to visit home more often to provide support in any way that he can to make lives better for the less-privileged in Nigeria.

S’Leone Beat Benin Squirrels to Reach First AFCON in 25 Years

L-R: Newly elected First Vice President of the AFN, Gadzama Tafida, President, Tonobok Okowa and Second Vice President, Rosa Collins during the inauguration of the Athletics Federation of Nigeria board at the Moshood Abiola Stadium in Abuja...yesterday

Striker Kei Kamara scored a first half penalty as Sierra Leone secured a place at the Africa Cup of Nations (AFCON) for the first time since 1996, following a 1-0 victory over Benin in Conakry yesterday.

The qualifier had twice been postponed due to coronavirus-test issues.

Kamara converted from the spot after 19 minutes and the

Leone Stars held on for a famous victory to join the other 23 teams at the finals in Cameroon in January.

Sierra Leone needed to beat Benin - who required just a point - to seal second place behind Group L winners Nigeria.

The tie was moved to Tuesday from Monday after Covid-19 issues saw the game

delayed just ahead of kick-off.

Both teams were at the stadium ready for the fixture when Sierra Leone were informed that six of their players had returned positive Covid-19 tests.

All the players involved were re-tested on Monday with only goalkeeper Ibrahim Sesay returning a negative result on Tuesday.

It meant that the Leone Stars had a depleted squad of 20 players, including two goalkeepers, for the game.

The Sierra Leone delegation complained that in the build up to Monday’s game they had been informed by a Confederation of African Football official that the whole squad were negative after tests carried out in Guinea.

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Wike to Buhari

“Mr. President, you’re the Commander-in-Chief of the Armed Forces. You appoint Inspector-General of Police, you appoint the Chief of Army Staff, Chief of Naval Staff, the Commissioner of Police, Director of DSS and other heads of security. Which one do we appoint? How can people appointed by Mr. President be under me?”

– Rivers State Governor, Nyesom Wike, challenging President Buhari for shifting the power of securing the lives and property of Nigerians to governors.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Of Legacy and Transience of Power I

n the famous interview with ARISE TV, President Muhammadu Buhari said it should be left for the people to assess his legacy.

He expressed the hope that such an exercise would be performed judiciously.

The verdict of history, of course, inexorably awaits every political actor after he might have left the stage. This is more so for a historical personality of Buhari’s stature. While it may sound modest of Buhari to say that the discussions of his legacy should be the business of the public, he should be reminded that he has the responsibility to shape the legacy. As it is, he could still do so in the next 24 months. If you like, it is also the duty of the public to continue to draw the attention of the President to this responsibility.

It is a task that Buhari must take more seriously in the face of a festering national crisis.

Even if in good faith the Buhari administration could access more loans, some important ongoing projects and the new ones to be added may not be completed before the end of the President’s tenure. Despite that reality, however, there will be some physical things - roads, railways, bridges, agricultural programmes, water schemes, housing, schools, health facilities etc. - to highlight as achievements of the Buhari administration.

However, the legacy of Buhari would not be determined by physical projects alone. If anything, Buhari should henceforth be more conscious of what his legacy would be in the realm of the intangibles especially security and national unity.

Today’s reflection is on national unity with a suggestion that Buhari should be demonstrably a unity president. After all, you need to have stable nation first and then you could talk of developing its economy and fixing its political system. As physical programmes and projects are executed, greater attention should be given to nation-building. Given the means, a government can re-build a collapsed road or bridge. It’s a different matter when a nation disintegrates. The President should pay more attention to what his legacy would be in the promotion of national unity. The immediate implication of this would be a critical look at the non-inclusive policy steps and a rethink of some of the statements of Buhari about national integration.

For instance, the response of the President to the Igbo Question in the polity was wholly unhelpful in the national circumstance. Even the mien of Buhari while answering the question could silently alienate even the most nationalistic Igbo man from the Nigerian socio-political space.

This demeanour is typical of some the officers who fought the civil war on the federal side.

The President falsely equated the Igbo ethnic group with the separatist organisation, the Indigenous Peoples of Biafra (IPOB). When the President spoke of those who have “properties” and “businesses” all over the country, he couldn’t be referring to IPOB members alone. In another context, such a socio-economic characterisation of the Igbo in general is often made to pay compliments to the integrative capacity of the great Nigerians from the southeast. If IPOB members or other persons of Igbo origin commit crimes, they should be dealt with according to the law. Those who killed policemen and soldiers and destroyed police stations and offices of the Independent National Electoral Commission (INEC) should be arrested and prosecuted. It doesn’t matter if the criminal suspects are Igbo or not. But the millions of Igbo people should not be demonised for the alleged criminal activities of a few. The basic principle involved in this suggestion is the same that this reporter has consistently invoked on this page against the reckless demonisation of the Fulani ethnic group because of the alleged

Buhari crimes of some herdsmen who happen to be Fulani. If an Ak-47 wielding herdsman attacks a farmer and his cattle destroy other people’s farms, he should be punished according to the law. Crimes cannot be solved when the justice process is laden with prejudice and mindless ethnic profiling.

In fact, official responses should distinguish between criminals and non-violent agitators for a cause with which the government may not be agreement. It is legitimate that a President does not approve of a separatist agenda; but it is wrong for the government to criminalise peaceful agitations for separation. You should persuade separatists on the importance of unity; you should not criminalise them for their divisive choices. But if anyone who claims to be a separatist agitator kills or destroys public properties, he or she would be treated as a criminal having crossed the borderline between political agitation and sheer criminality.

In this regard, Buhari should a borrow a leaf from President Umaru Yar’adua. The amnesty programme for the former militants as part of the resolution of the crisis in the Niger Delta has become part of the legacy of Yar’Adua, who distinguished between legitimate agitation against the gross injustice done to the region and clear criminality. The militants, unlike today’s bandits, stated their demands for resource control and the stoppage of environmental degradation. Like many struggles in history, distortions got into the legitimate movement with the criminal activities of kidnappers, cultists and oil thieves. Yar’adua issued an ultimatum for disarmament. Those

The process of national integration would be enhanced if Buhari could convince all parts of Nigeria in words and action that he is indeed a unity president

who surrendered their arms were embraced and integrated into the development process of the region. The approach might not have been perfect; but it has proved to be a helpful component of the crisis-resolution formula in the region.

The problem has not been definitively solved.

In retrospect, however, Yar’Adua could have missed the point if he had elected to merely talk tough and disparage the whole people of Niger-Delta.

So, one lesson that Buhari could learn from the Yar’Adua formula is a sophisticated combination of security measures and political solution. If the government could have a programme of “decradicalisation” of Boko Haram fighters, it should be more suggestible to think of a programme of engagement and reorientation of non-violent IPOB members. It should not be unthinkable that the Buhari administration (which has some Igbo politicians as senior members) could engage the Ohaneze Ndigbo and in the process create a bridge to engage the willing elements of IPOB. The first step should be the de-proscription of IPOB. There could be other forms of political solution which the experts advising this government could provide in the process. The soft and constructive approach may be useful for the Buhari administration in making a difference in the next 24 months to tackle the national crisis it inherited. You cannot resolve the crisis in the southeast by talking to the people as if they were conquered. The Igbo were never conquered by anybody. They only lost a war which shouldn’t have happened if political solution had worked.

Some political forces in Nigeria need to be cured of their conqueror mentality.

The polity has become so poisoned by hate speech and ethnic profiling. It is partly a manifestation of the ugly division along the fault lines. This is the more reason why presidential pronouncements should be clinically devoid of prejudice. The process of national integration would be enhanced if Buhari could convince all parts of Nigeria in words and action that he is indeed a unity president.

Worse still, the President of the federal republic even said if you checked the register of civil servants, you would find Igbo names in it!

Pray, what point was the President making by such a statement? Is it a special favour that Igbo names could be found in the register of civil servants? Why is that news now from the presidential villa? And that was the answer to the question on the seemingly incurable nepotism in the pattern of his appointments in clear violation of the constitutional provisions that such appointments should reflect the federal character of the country. So, by extrapolation, the matter becomes problematic when the President employed the martial metaphor of “a dot in the circle” to describe the geo-political zone of southeast. Is that a threat?

In an earlier occasion, the President had been criticised for saying that the government would respond to some people “in the language they understand” while referring to the civil war in an otherwise justified rebuke of the violence in the southeast. The President rightly said that some of those agitating for a republic of Biafra were born after the tragic civil war which claimed the lives of millions of people. But the separatists should be isolated and be told not to employ violence in the pursuit of their cause. There is no statistical evidence that the majority of the Igbo is committed to the Biafran cause just as no one has provided a proof that most of the Yoruba prefer to be in an Oduduwa Republic. A few weeks ago, the attorney-general of the federation, Mallam Abubakar Malami, also provocatively

equated herdsmen moving round the forests in parts of the country with their cattle for open grazing with the Igbo traders legitimately selling spare parts in different cities of the country.

The unsettling background to the foregoing, of course, is the often quoted “five percent” declaration made in the aftermath of the 2015 presidential election. Asked what his attitude would be to those who didn’t vote for him, Buhari said it should not be expected that those who gave him 95% of their votes would be treated as those who gave him only five percent. That is not in the spirit and letters of the 1999 Constitution based on which Buhari took oath of office. Such statements would impair the cause of national integration. Having been elected, Buhari ought to have demonstrated that he is the president of all - those who supported him with their massive votes and those who voted against him.

It is an open secret that Buhari as a candidate was hardly popular in Igboland in the four presidential elections he has contested in his political career. This was despite the fact that he chose Igbo politicians as running mates in two of the elections. Members of the Igbo political elite who support Buhari do so as exceptions to the rule. The antipathy between Buhari and the dominant faction of the Igbo elite is sometimes manifest. Such was the case in the build-up to the 2019 presidential election. On a day that Buhari was in the southeast to commission the mausoleum built in memory of the first President of Nigeria, Dr. Nnamdi Azikiwe, a crop of Igbo elite gathered at a different venue to adopt the presidential candidate of the People’s Democratic Party (PDP), Atiku Abubakar, as the favoured candidate by the Igbo. Meanwhile, for 16 years successive PDP governments ignored the national monument begun by the military regime of General Sani Abacha. A great nationalist, Azikiwe was Igbo. All that, however, is legitimate politics.

Nothing in that politics could justify prejudice or discrimination against the Igbo, like any other ethnic group, on any ground.

Besides, the Buhari government has executed some projects in the southeast as part of government’s policies and programmes. The most conspicuous is the Onitsha bridge which has received the greatest attention during the tenure of Buhari. Previous administrations played political football with the bridge.

However, it is the statements and other optics of Buhari and not the bricks -and -mortar policies that people talk about when discussing the topic of Buhari and the Igbo.

The intangibles count as much as the tangibles, if not more, in the way a leader is perceived in a complex society such as Nigeria.

It may be Buhari’s style to talk tough amidst the multi-dimensional national crisis. This approach should be tempered with adequate display of emotional intelligence. There are many brilliant people in the Buhari administration; but they should be duly sensitive to the sore points of Nigeria’s history when making statements. They should learn to apply the appropriate balm to soothe people’s pains rather rubbing salts into their wounds. Those currently wielding power in Abuja today should be wary of the perils of arrogance of power. Here, we are talking power that’s inevitably transient. That’s precisely why they should pause now and repair the damage already done to the polity at the subjective level.

Buhari can still take steps to leave a positive legacy in matters of national unity. But the President does not have eternity to do so. For it’s obvious that the President should be in the legacy mode by now, remembering that power is ultimately transient.

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