THURSDAY 26TH JUNE 2019

Emir Sanusi Advises FG to Stop Subsidy on Petroleum, Electricity Says nation could be on the verge of bankruptcy Ibrahim Shuaibu in Kano Emir of Kano, Alhaji Muhammad Sanusi II, yesterday said Nigeria was on the threshold of bankruptcy,

explaining that the country could be brought to its knees unless the federal government stopped money guzzling subsidy policy on petroleum products and electricity.

Sanusi spoke during the ongoing third National Treasury Workshop organised by the office of the Accountant General of the Federation holding in Coronation Hall,

Government House, Kano.

The emir advised President Muhammadu Buhari's administration to cancel subsidy on petroleum products and electricity tariffs if the

economy must stabilise.

He said: “The country is bankrupt and we are heading to bankruptcy. What happened is that the federal government do pay petroleum subsidy, pay

electricity tariff subsidy, and if there is rise in interest rates, federal government pays.

"What is more life Continued on page 9

CAN, Afenifere, Middle Belt, Ohanaeze, Tackle Osinbajo over Kidnapping... Page 8 Wednesday 26 June, 2019 Vol 24. No 8843. Price: N250

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South-west Governors Insist on State Police Condemn killer-herdsmen, banditry Again, Buhari pledges to end farmers-herders' violence Omololu Ogunmade in Abuja and Kemi Olaitan in Ibadan Governors of the six Southwest states of Ekiti, Lagos, Ogun, Ondo, Osun and Oyo yesterday in Ibadan, said they were committed to protect the

lives and property of their people and vowed to put their political affiliations aside and confront killer-herdsmen, banditry and other security challenges facing the region.

The governors also said to successfully protect their

people in the geo-political zone, it had become necessary for the federation to permit states to raise their own police force.

This is coming as President Muhammadu Buhari yesterday in Abuja said his

administration was determined to find a lasting solution to the protracted farmers and herders' violence in different parts of the country.

The governors, who gave the commitment in their separate remarks while speaking at a

security summit, christened, "Stakeholders' Security Summit : Focus on Western Nigeria," held in Ibadan, the Oyo State capital, also said now more than ever is the time to create state police, stressing that they could co-exist with the federal

police.

Present at the summit which was organised by the Development Agenda for Western Nigeria (DAWN) Commission, were the six Continued on page 8

Nothing Sinister About Amosun’s Arms Importation, Says Presidency IG to issue statement on preliminary investigation Transaction done in 2012 with presidential permit, says Amosun Olawale Olaleye in Lagos, Omololu Ogunmade in Abuja and Femi Ogbonnikan in Abeokuta The presidency last night dismissed an allegation that former governor of Ogun State, Senator Ibikunle Amosun, illegally imported massive weapons and ammunition into the country, saying preliminary investigation

by the Inspector-General of Police, Mr. Mohammed Adamu, showed that there was no sinister motive in the former governor’s action.

An online news portal, Premium Times, had published a story on Monday night, claiming that Amosun imported without appropriate permits, 1,000 AK47 assault Continued on page 9

Ahmed: FG Plans to Raise VAT to 7.5% by 2020... Page 9

LEGISLATIVE BUSINESS...

Group Chairman, United Bank for Africa (UBA), Mr. Tony Elumelu (left), and Speaker, House of Representatives, Hon. Femi Gbajabiamila, during the speaker’s courtesy visit to the UBA chairman at his Heirs Holdings office in Ikoyi, Lagos… yesterday

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CAN, Afenifere, Middle Belt, Ohanaeze, Tackle Osinbajo over Kidnapping Deji Elumoye, Shola Oyeyipo, Onyebuchi Ezigbo in Abuja, Christopher Isiguzo in Enugu and Segun James in Lagos Pan-Yoruba socio-cultural organisation, Afenifere, Ohanaeze Ndigbo, the Southern and Middle Belt Forum (SMBF), and the Christian Association of Nigeria (CAN), have criticised Vice President Yemi Osinbajo over a statement credited to him that the level of insecurity in the country was being exaggerated.

Osinbajo was quoted as saying during a town hall meeting with Nigerians in New York, United States, on Sunday that “some of the kidnapping stories you read or listen to are simply not true anywhere; some are fuelled by politics.�

Afenifere, in a reaction contained in a communique titled: ‘We Can't Bear It Anymore!’ which was adopted after the organisation’s General Assembly held yesterday at the home of its leader, Chief Rueben Fasoranti, in Akure, Ondo State capital, condemned Vice President Osinbajo for taking such position in far away New York while Nigerians are living daily in palpable fear over insecurity.

The Southern and Middle Belt Leaders Forum (SMBL), in a separate reaction by its spokesman and National Publicity Secretary of Afenifere, Mr. Yinka Odumakin, accused the vice president of being insensitive to the plights of suffering Nigerian masses.

According to SMBLF, “We have not seen such inconsiderate, uncaring and totally sadistic comments from any man trusted with position of responsibility anywhere around the world in recent time.�

Afenifere, in its communique, stated: “The

meeting was scandalised by the opportunistic and provocative utterances of Vice-President Yemi Osinbajo in New York on Sunday dismissing the danger we are faced with in Yorubaland as well as by other zones in Nigeria as being ‘politically motivated.’ "As if he is unaware that we are in a digital world, which explains why America and Britain have issued travel directives to their citizens not to travel to more than two-third of Nigeria, the Vice President without much thought for his integrity stated that ‘With respect to general kidnapping, which we have seen in parts of the country, again, this is not entirely new. In fact, some of the kidnapping stories you read or listen to are simply not true anywhere, some are fuelled by politics.’ “The meeting frowned at this unfortunate comment by the Vice President who shames the Yoruba people with his very cheap politicking with the lives of Nigerians.�

Noting that Yorubaland is still under siege, the communique noted that the state of security in Yorubaland was reviewed that they were overwhelmed by reports of traumatisation of the people by Fulani herdsmen/ kidnappers/militia all across the six states in the zone as well as Kwara and Kogi states. “All the reports provided clear indications of failure of state as the security forces have largely incapable or unwilling to safeguard the lives of our people against these criminals as we are not aware of any of them that has been arrested or is under trial at the moment just as all the federal government has done so far is to make excuses for the Boko Haram and Miyetti Allah groups that have been accused of so many crimes

against the people of Nigeria. “Aside from the daily tales of horror across Yorubaland in the hands of these Fulani marauders, meeting would like Osinbajo to answer the following question: Is the report of the kidnap of a district head from President Muhammadu Buhari's town from May 1 till date politically motivated? And was the President speaking of another country when he handed kidnappers on rampage to God? “Was former Health Minister, Professor Isaac Adewole playing politics when it was announced that his son was kidnapped? What politics was afoot when the Ondo State governor recently announced that his convoy was waylaid by kidnappers? “If he cannot answer these questions, he should kneel before his God and ask for forgiveness for violating ‘Thou shall not lie’ commandment.

We further admonish him not to allow whatever ambition and political interest he serves to push him to make such infuriating comments as the number two man in the country again.�

On its part, the SMBLF said Osinbajo’s statement in New York was far from the truth, stating that “It is one thing for a leader to be bereft of kind words to the numerous victims of the genocidal acts currently going on in Nigeria, the Next Level of utter depravity in leadership is to tell bare -faced lies on the open abuse of citizens in the hands of Fulani marauders going on in Nigeria. “How someone can tell such a lie internationally, go to bed comfortably and still wakes up calling himself a Pastor is beyond our ken. It is now clearly in doubt that Nigerians can any longer trust this type of leadership to protect them.�

On his part, the PresidentGeneral of Ohanaeze Ndigbo, Dr. John Nnia Nwodo, who expressed shock at the statement, told THISDAY that "I can't believe that Prof.

Osinbajo said this. Nigeria is in real trouble!"

The Igbo leader, however, refused to speak further on the issue.

But the Deputy National Publicity Secretary of Ohanaeze Ndigbo, Mr. Chuks Ibegbu said they were shocked to read such remarks, wondering whether the vice president had become so unaware of the developments back home. “The statement is very unfortunate. That statement doesn’t meet the requirement and standard of his status.

Maybe because they are in government and are protected by government security, they no longer appreciate what the ordinary man faces out there. “Can the Vice President afford to move along the streets in Nigeria with little security as it is done in other countries including the United States where he reportedly made the remarks. We challenge the Vice President to walk in the streets of Lagos with little security, that’s how to quantify the level of security in a country,� Ibegbu said.

Also, one of the nation's foremost human rights activists and Executive Director of the Environmental Rights Action (ERA), Dr. Nnimmo Bassey, also decried the vice president's statement, saying that "the Vice President missed a great opportunity to assure Nigerians who turned up to hear him that government was doing something about the various manifestation of insecurity in Nigeria.

"He should know that some Nigerians abroad are even more current with facts on the national situation than their compatriots in the country.

Some of the persons in the audience may even have relations that may have had the unfortunate situation of being kidnapped.

The same sentiment was expressed by Akin Osuntokun, a former political adviser to former President Olusegun Obasanjo.

To him, "as a media practitioner, you are in a good position to answer that question. Anyone who says the security crisis in Nigeria is being exaggerated should pray for God's forgiveness and hope that the grisly reality is not brought to his homestead as penance.

On its part, CAN asked the federal government to stop playing politics with the security challenges and wake up from its slumber and fix the problem.

The umbrella body of Christians in the country said that recent unpleasant comments attributed to some top government officials regarding the issue of insecurity in the land seemed to portray them as not being responsive to the worrisome situation.

While reacting to a statement credited to the vice president, the Special Assistant to the CAN President on Media and Communication, Pastor Adebayo Oladeji said most parts of the country have been under "the siege of terrorism, herdsmen killings, banditry, and kidnappings but the government of the day has continued playing the ostrich and blame game instead".

"We are always in a dilemma to react to some unpleasant remarks being made by some top government functionaries in recent times because few days later, they will recant and turn around to blame the press for quoting them out of context. Here we are when the country

has been under the siege of terrorism, herdsmen killings, banditry, and kidnappings but the government of the day has continued playing the ostrich and blame game instead of being responsible for the unprecedented criminal activities in the country," he said.

"How could the Vice President, in far away country, play politics with the menace of kidnapping which some of the key members of the government like the immediate past Minister of Health was a victim?

The popular Abuja-Kaduna highway and some major roads in the country are under the siege of kidnappers while states like Kaduna, Kogi, Ondo, Osun, Oyo and a few others are under unprecedented operations of these wicked beings yet the government is claiming that nothing of such is happening under its watch.

Spokesman for the CAN president said President Buhari should seek for the best hands in his second term to help address the present security crisis as well as other problems bedeviling the country.

"As the Body of Christ, we will not cease speaking truth to power no matter what until the truth prevails.

Nigerians deserved the best from the government and this is why we are calling on the Presidency to look for the best hands in its second term who can get us out of this mess.

But if religion, tribalism and religious sentiments are still the yardstick for the selection of those who form the next government, it means the struggle continues.

"Let there be a national government where everyone will come on board to collectively liberate the country from these economic and Security challenges. It is well with Nigeria," he said

their life and property. We also know that there are barriers preventing us from carrying out this constitutional responsibility to the fullest measure."

Governor Kayode Fayemi of Ekiti State, in his own remarks, said drone system has been deployed to tackle some of the security challenges facing the region while Governor Babajide Sanwo-Olu of Lagos State, Governor Dapo Abiodun of Ogun State and Governor Gboyega Oyetola of Osun State, in their addresses, maintained that security issue has been the major discussion of the governors and had decided to cooperate with each other in tackling security challenges in the region.

herders' violence in different parts of the country.

The president, who said the government was putting in place policies aimed at finding permanent solutions to the crisis, appealed to all leaders in the country to assist the government in promoting peace.

The president made the remarks while hosting a delegation of leaders of thought from Nasarawa State in the Presidential Villa, recalling how he advocated the need to invest in four areas, namely: security, primary healthcare, agriculture and education while inaugurating the National Economic Council (NEC) on Thursday.

He appealed to the states of the federation to focus on these four areas in the country's quest for development.

Buhari said: "The incessant conflicts between herders and farmers is an age-long problem. This administration is determined to find lasting solutions. I employ all leaders of opinion to help maintain peace while we are putting in place policies and permanent solutions.

"Just last week, I inaugurated the National Economic Council. During

SOUTH-WEST GOVERNORS INSIST ON STATE POLICE governors from the region, security chiefs, traditional rulers, leaders of thought and prominent groups within the region.

Governor Rotimi Akeredolu of Ondo State, who doubles as the Chairman of the Western Nigeria Governors' Forum, in his speech while declaring the summit open, said no sacrifice was too much for the governors in the region to make to protect their people, noting that the governors in the region had decided to put their party affiliations aside and tackle the security challenges facing the region.

According to him, "This meeting has become exigent considering the spate of insecurity in the country.

The anxiety of our people is palpable. The growing fear among the populace makes nonsense of any plans conceived for the development of our God-given space.

"It is my fervent hope that this engagement will not be limited to the current challenge which threatens to wreck our collective peace. I look forward to future interactions on matters as important and

affective as this one which compels this assembly. There is no gainsaying the obvious; the issue of socio-economic integration in the region must be taken seriously for any aspiration towards development to be meaningful.

No remarkable progress can be achieved amidst chaos. No state in the region can achieve greatness in isolation.

"We should extend the possibility of cooperation on other socio-economic fronts. Our people stand to benefit from our resolve to ensure that they remain at the centre of all permutations and considerations.

"Partisan coloration should not delimit the extent of collaboration aimed at maximum service for our people. With shared yearnings for the development of the region, there should be no difficulty in agreeing to provide the best services possible in the interest of our people.

"There should be no disagreement in aspiration for service, if altruism is the focus. Our seeming difference, considering political platforms,

should not stand in the way of commitment to promote the collective well-being of our people. Convinced of our shared heritage, propelled by the desire to proceed on the enviable tradition of excellence for which our ancestors are reputed, we cannot harbour any extraneous preferences to this inherited and established course of development.

Governor Seyi Makinde of Oyo State, in his welcome address, said as governors, their role is to ensure that everyone living in the region is safe, stating that there can be no development without a secure environment.

He noted that as a group, the people of the South-west have always had more things that unite them than those that divide them, insisting that they want things to continue like that and would not allow the actions of miscreants and enemies of unity to make the people change who they are.

According to him, "As governors, it is our responsibility to ensure that everyone in our midst, indigene or alien residents, is assured of security of

Again, Buhari Pledges to End Farmers-Herders' Violence President Muhammadu Buhari yesterday in Abuja said his administration was determined to find a lasting solution to the protracted farmers and

Continued on page 9

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NEWS

Ahmed: FG Plans to Raise VAT to 7.5% by 2020 James Emejo in Abuja with agency report A former Minister of Finance, Mrs. Zainab Ahmed, yesterday said the federal government was planning to increase the rate of value-added tax (VAT) to 7.5 per cent from the current five per cent by 2020.

This is as the government seeks to shore up falling revenue, according to Bloomberg.

Speaking at the Bloomberg Emerging & Frontier Forum in London, the former minister, whose tenure ended with President Muhammadu Buhari’s first term on May

29, said that her main preoccupation while in office was how to raise government’s revenue with only 55 per cent of targets being met.

Buhari, who was re-elected for a second four-year term, is yet to constitute a new cabinet.

She said: “We have developed a strategic revenue growth initiative, which we have started to implement. “Our target is to increase revenue to 65 per cent minimum in 2019 so that in the next three years we are able to attain 80-85 per cent of our revenue target.�

However, earlier plans by government to increase VAT

Ahmed had been vehemently opposed

by Nigerians.

In April, following a public backlash, Executive Chairman,

Federal Inland Revenue Service ((FIRS), Mr. Babatunde Fowler, refuted reports it had proposed a 50 per cent increase in VAT when he appeared before the National Assembly to defend the agency's 2019 budget.

But Fowler maintained that his position was misrepresented as he actually recommended an increase in the number of Nigerians and companies paying VAT and not the other way around.

A statement issued by his media department to debunk the claim stated: “Though he indicated that there should be an increase in the VAT rate by the end of the year, he never

for once suggested a 50 per cent hike or any percentage increase at all. “Rather, he promised improved collection in CIT, Petroleum Profits Tax, PPT and VAT in 2019 relative to the collection performance of the service in 2018. “In 2018, FIRS collected the sum of N1.1 trillion in VAT; N1.42 trillion in Companies Income Tax (CIT); and N2.4 trillion in Petroleum Profits Tax (PPT).�

Also, Ebonyi State Governor, Chief David Umahi, had further opposed the proposed plan by the federal government to lift Value Added Tax (VAT)

from five per cent to 35 per cent, stressing that it would put the country in difficult situations.

The governor had said that the plan, which was proposed by the federal government in order to pay workers’ salary with the implementation of the N30,000 minimum wage, was like digging a hole to fill a hole.

According to the National Bureau of Statistics (NBS), the federal government generated N1.10 trillion as VAT in 2018, representing a growth of 13.96 per cent (year-on-year) when compared to the N972.34 billion collected in 2017.

remain committed to the change agenda. Our goal of building an inclusive, secure and prosperous Nigeria is achievable. However, the federal government cannot do it alone. We need the full cooperation and support of states, local governments as well as traditional and religious leaders.

"I must commend you the

Nasarawa elders and leaders for making peace within the state. In the last four years, you collectively put aside your political, religious and ethnic differences for the interest of stability and prosperity. We must continue to preach peace and understanding in your various community."

Answering questions from journalists on their mission in the State House, Nasarawa State Governor, Alhaji Sule Abdullahi, said they had visited the president to congratulate him on his re-election and also thank him for appointing their sons into notable positions in the country.

obtains in most Government Lodges, to guarantee exclusive use of the materials in Ogun State. These are not matters for the public. “The suggestion that the security assets were quickly handed over to the police in order that the new administration will not know about it is laughable because the current Governor of Ogun State, Prince Dapo Abiodun, MFR was the main supplier of some of the assets in question, notably, the Armoured Personnel Carriers (APCs). “As a governor who understood and took the responsibilities of his office seriously, Senator Amosun was mindful to account for and properly hand over the remainder of the security items to the police and the new administration. On 28 May, 2019, the last of the APCs, and all other security assets under the custody of Ogun State Government were passed over to the police in full glare of the media and general public. We believed that was the surest way to prevent these assets getting into the wrong hands.�

The Commissioner of Police, Ogun State Command, Mr. Bashir Makama, had earlier in the day denied receiving large volume of guns and ammunition from Amosun, saying he took delivery of an Armoured Personnel Carrier

(APC), 1,400,000 live ammunition from the former governor.

The police boss, in a telephone chat, stated that the Force Headquarters, Abuja, was aware of the handover of the weapons to him, shortly after the last general elections when he assumed office in May. Makama explained that shortly after his assumption of office, Amosun put a call through to him to come for the leftover weapons the state government procured and kept at the Government House, located at Oke-Igbein, in the heart of Abeokuta, when he (Amosun) assumed office in year 2011 as the fourth executive governor to combat the growing menace of criminal activities in the state.

The state police boss said: "I didn't receive any firearms from the immediate past Governor Ibikunle Amosun, but he only handed one APC, 1,400,000 live ammunition to me. “When I assumed office in May I received a call from the then governor, who asked me to come for the leftovers of the weapons that the state government bought to combat violent crimes in the state, upon his assumption of office in 2011.

That he (Amosun) didn't want the weapons to remain at the Government House before leaving the office.

"The Force Headquarters, Abuja, was aware of the development, because I had to do it officially.

"But surprisingly, I couldn't imagine how traditional and online media have started to drop my name in connection with the half of a story.�

of public funds, improving independent revenue base and profile of government, as well as proffering revenue diversification for governments at all levels so as to cut down the cost of governance.

In his address, the Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, identified corruption as the bane of the country's economic woes.

He warned public and private office holders to desist from corrupt practices, stating that his office has zero tolerance for corruption.

"Transparency and accountability are twin sisters of good governance. They are the tools to tackle corruption.

It is through this that we can

leave a good legacy."

Magu, however, called on the federal and state AccountantGenerals to take the lead in the fight against corruption, adding that they must insist that the right things must be done in their offices.

In his address, Kano State Governor, Dr. Abdullahi Ganduje, who was represented by his deputy, Dr. Nasiru Gawuna, said the state was the first to establish the Treasury Single Account (TSA) in its bid to fight corruption and block leakages.

According to him, the state also put in place, the Anti-corruption and Public Complaint Commission to checkmate corrupt practices of public servants in the state.

SOUTH-WEST GOVERNORS INSIST ON STATE POLICE that meeting, I emphasised the need to invest in education, primary healthcare, agriculture and security as foundations for sustainable progress.

"I want to use this forum to again solicit the support of all states to align with those four pillars. We must all have a collective vision for sustainable

development."

He praised the state for what he described as its steadfastness and commitment to progress, saying he will never forget the state because it was the only state won by his defunct Congress for Progressive Change (CPC) in 2011.

He assured his guests that

in the next four years, the federal government would remain committed to the change agenda, pointing out that the government's goal to build an inclusive, secure and prosperous Nigeria is achievable.

The president told his visitors: "In the next four years, I want to assure you that we will

NOTHING SINISTER ABOUT AMOSUN’S ARMS IMPORTATION, SAYS PRESIDENCY guns and four million rounds of ammunition.

But a presidential spokesman, Mallam Garba Shehu, in a text message response to THISDAY’s enquiry, said following a preliminary investigation by the police boss, the presidency did not think Amosun had sinister motive in importing the guns and ammunition. “The IG of police, Adamu Mohammed has undertaken a preliminary investigation [and] is issuing a statement on the issue of those guns in Ogun State. At this early stage, we don't think that there is anything sinister about the whole issue,� he stated.

Last night, however, Amosun in a statement by his media aide, Mr. Rotimi Durojaiye, denied handing over the alleged large arms and ammunition, stating that all its arms importations were authorized by the presidency under former president, Dr. Goodluck Jonathan.

Although he acknowledged that upon the winding down of his government, he handed over some ammunition and armored vehicles to the Ogun State Police Command, he denied that guns were involved in the exercise. “Not a single AK 47 riffle was handed over at the event,� he said.

The media aide explained: “It is important to stress that this was not the first time that Senator Amosun, whilst in office as governor and former chief security officer of Ogun State would be handing over security assets to the police. The particular exercise of 28 May, 2019 was done openly in the full glare

of the public and the media to ensure accountability, guarantee transparency and judicious use of the assets. “In May 2011 when Senator Amosun assumed office, the biggest challenge that confronted Ogun State was insecurity.

Political assassinations, unnatural and unexplained deaths were prevalent. In Ogun East for instance, which comprised of 9 of the 20 LGAs at the time, the entire business and financial institutions architecture had become comatose as no bank or such institutions could open for business in the entire senatorial district. “Cultism, kidnapping for ransom, violent crime and tertiary institutions related criminality stank to high heavens. Ogun West was totally ravaged by cross border banditry, unbridled smuggling and economic sabotage. Ogun Central, though relatively calmer, had its fair share of the very low security index that our state had sunk at the time. No resident, in good conscience, could sleep at night with two eyes closed. “In the World Bank Ease of Doing Business, 2010, Ogun State was ranked as Number 35 out of 36 as industries and corporations fled the state in droves. “Senator Ibikunle Amosun took the firm view that nothing would thrive in an atmosphere of insecurity. He, therefore, decided that early to confront the myriad security challenges headlong and thereby open up Ogun State to private investment under a secured environment. “The SIA administration convened a security parley

amongst all stakeholders. The parley gave rise to the Ogun State Security Trust Fund (STF) under the leadership of a former Nigerian national security adviser. The deliberations and recommendations of the STF and the far-reaching initiatives of government have delivered consistent peace of mind, economic prosperity and social progress for all within the borders of Ogun State and even beyond since 2012. We note with immense pride that the same Ogun State, generally regarded as a back-water state in terms of security rallied round strongly to emerge as one of the most peaceful and the best place to work and live in Nigeria. “The SIA administration sought help from the then President Goodluck Jonathanled federal government. First, we sought and got approval to set up “OP MESA� for Ogun State. We followed this up with the specialized QRS unit. We committed substantial funds into procurement of hard and soft ware, and, myriad security assets to decisively combat our security challenges. We got all necessary approvals from the Office of the National Security Adviser to procure the 13 units of Armoured Personnel Carriers (APCs), the 1000 units of AK 47 rifles, 2 million rounds of ammunition,1000 units of bullet proof vests and 500 bullet proof helmets and other security communication gadgets. “Ogun State not only got approval to import these essential assets, the federal administration under President Goodluck Jonathan, gave all

requisite approvals to assist the state. The federal government through the Office of the National Security Adviser (NSA) issued the State the End User Certificate Serial Number 000001123 dated 5th of March, 2012. The Federal Ministry of Finance also granted Import Duty Exemption Certificate through a letter from the Honourable Minister of Finance and Coordinating Minister of the Economy with Reference Number BO/R.10260/S.4/T.4/22 dated 10th April, 2012. “Indeed, the supplier was an accredited agent of the Nigeria Police Force nominated for the job by the force, who also monitored and supervised the transaction. The security materials were cleared through the Murtala Muhammed Airport and confirmed through Nigeria Customs Memo NCS/ MMAC/012/S.1. The materials were publicly handed over to the Inspector General of Police MD Abubakar on 22nd April, 2012 wherein he acknowledged that: ‘I have served in all six geographical zones of this country. I have never seen the kind of equipment you are donating to security agents today. This is the first of such maximum donation I have ever seen since I have been serving as a police officer.’ “Suffice to say categorically that the AK47 rifles were supplied directly to the Nigeria Police, Ogun State Command.

The rest of the merchandise were securely kept in the approved designated armoury within the Government House precincts under police surveillance as it

Ogun Police Command Deny Receiving Arms from Amosun

EMIR SANUSI ADVISES FG TO STOP SUBSIDY ON PETROLEUM, ELECTRICITY threatening than subsidy that we have to sacrifice education, health sector and infrastructure for us to have cheap petroleum?

"If President Buhari is fighting poverty, he should remove the risk on the national financial sector and stop the subsidy regime."

Sanusi insisted that Buhari must tell Nigerians the fact about the economic situation and also act quickly on it because the nation is already bankrupt.

According to the Sarkin Kano, “Since I have decided to come here, you have to accept what I have said here. And please, if you do not want to hear the truth, never invite me.

"So, let us talk about the state of public finance in Nigeria. We have a number of very difficult

decisions that we must make, and we should face the reality.

His excellency, the president said in his inaugural speech that his government would like to lift 100 million people out of poverty, it was a speech that was well received not only in this country, but the world-wide.

"The number of people living with poverty in Nigeria are frightening. By 2050, 85 percent of those living in extreme poverty in the world will be from the Africa continent. And Nigeria and the Democratic Republic of Congo will take the lead.

"Two days ago, I read that the percentage of government revenue going to debt services has risen to 70 percent. These numbers are not lying. They are

public numbers. I read them in the newspapers. When you are spending 70 percent of your revenue on debt services, then you are managing 30 percent.

"And then, you continue subsidizing petroleum products; and spending N1.5 trillion per annum on petroleum subsidy!

And then we are subsidizing electricity tariff. And maybe, you have to borrow from the capital market or the Central Bank of Nigeria to service the shortfall in the electricity tariff, where is the money to pay salaries, where is the money for education, where are other government projects?�

He lamented that for 30 years, successive governments have had this project called petroleum subsidy, insisting that this is the

right time to stop it so as to save the nation's economy.

Speaking during the workshop, the AccountantGeneral of the Federation (A-GF), Mr. Ahmed Idris, noted: "The overall objective of the workshop is to promote accountability and transparency in all facets of the nation's public finance and management architecture.

"It is expected that participants should appreciate that accountability and transparency remain major watchwords for prudent financial management practices and are, therefore, major prerequisite for economic growth and development."

He charged participants to strive towards identifying the challenges to accountability and transparency in the management

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NEWS

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

Buhari Advocates Legislative, Judicial Autonomy to Deepen Democracy Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday in Abuja said deliberate efforts to guarantee the autonomy of state legislatures and judiciary, would further strengthen democracy, deepen inclusiveness of citizens and ensure fairness for ordinary Nigerians.

Presidential spokesman, Mr. Femi Adesina, in a statement, said the president made the remarks while receiving the report of the Presidential Implementation Committee on Financial Autonomy of State Legislature and Judiciary in the State House, Abuja.

According to the statement, the president who promised to study both the report and its recommendations, added that Nigerians wanted justice from their leaders and hence, trust must not be compromised.

“I went through a terrible time getting here for the three times I contested elections. That’s why I want to stabilise the system so

that others will not pass through the same experience.

“Both young and ordinary Nigerians depend on leadership to ensure justice is always done.

So we must ensure that trust is not compromised. This administration will take the report seriously,’’ he said.

According to the statement, the Chairman of the Committee and former Minister of Justice and Attorney General of the Federation (AGF), Abubakar Malami, said implementation of the recommendations would entrench constitutionalism, democratic principles and separation of powers.

“The recommendations clearly spell out that if uniform modules for implementation of financial autonomy for state legislature and state judiciary are approved for implementation across 36 states, it will no doubt strengthen Nigeria’s democratic principles, practices and public governance,’’ he was quoted as saying.

It also said Malami added that the committee had observed

Ortom Kicks as FG Establishes Farm Settlements for Herdsmen James Emejo in Abuja Governor Samuel Ortom of Benue State has rejected the proposed establishment of farm settlements, better known as Ruga settlements across the country for Fulani herdsmen.

The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Alhaji Mohammadu Umar, yesterday said the federal government had commenced the establishment of farm settlements to stop the constant clashes between farmers and herders, which have negatively impacted the economy.

He said already, government had commenced the establishment of “Ruga Settlements” in 12 pilot states for the benefits of cattle rearers. He spoke to journalists in Abuja shortly after the opening of a workshop on Regional Antimicrobial Resistance (AMR) and associated legislation in West Africa, which was organised by the Food and Agriculture Organisation (FAO).

According to him, the settlements will go a long way in addressing the recurrent crisis between herders and farmers, often leading to loss of human lives and wanton destruction of properties particularly farmlands.

Umar said cattle rearing continued to face challenges in the country as a result of declining pasture, and overgrazing, leading to fatal conflicts between pastoralists and crop farmers.

He said the government was determined to ensure that the concept of farm settlement worked as the impact on food and nutrition security and public safety and national security are far-reaching.

“Under the new plan, cattle herders are expected to be registered and recognised with cooperatives for the purpose of the ranching scheme.

“These cooperatives will then be able to get rental agreements for land from state governments and also benefit from ranch resources on several terms including loans, grants, and subsidies.”

“The Ruga settlement is one of the very important things not only in Nigeria but most of the countries in the Sub-Saharan.

“It is a concept that we developed to deal with internal security and we felt that to do away with herders and farmers’ conflict, we need to settle those that breed animals.

“We want to get them a place whereby we develop a settlement for them, we provide water for their animals, we provide pasture, we provide schools for their children; we provide security, agro-rangers.

“We also felt we need to develop cattle markets whereby you don’t need to be transporting animals for a very long distance.”

But in a swift reaction, Ortom said his state had no land for the proposed Ruga settlements for Fulani herdsmen.

The governor, in a statement by his Chief Press Secretary, Terver Akase, explained that Ruga settlement policy was imposed on states during the National Council on Agriculture summit held in Owerri, Imo State, in April this year by the Federal Ministry of Agriculture.

The governor further said the Benue State delegation reminded the summit that the state had a law on ranching which had phased out open grazing.

The statement added that few weeks ago, a director of the Federal Ministry of Agriculture with his team in Benue State informed officials of the state Ministry of Agriculture that he had received directives from the Ministry’s headquarters Abuja to establish Ruga which means ‘Fulani settlement’ in parts of the state.

that most states honoured the constitutional provisions for financial autonomy in the breach, than in observance, noting that the legislature and judiciary remain the last hope of the common man and should be given autonomy.

The statement added that Malami disclosed that the

committee consulted with state governors, chief judges of states, speakers of state houses of assembly, civil society organisations and relevant stakeholders, including members of the public.

Adesina recalled that the Presidential Implementation Committee on Financial

Autonomy of State Legislature and State Judiciary was inaugurated by Buhari on March 22, 2019, to fashion out strategies and modalities for implementation of the financial autonomy of the state legislature and state judiciary in compliance with Section 121 (3) of the 1999 constitution (As

Amended).

Answering questions from journalists later, Malami who said the committee submitted its interim report to the president, said among others, the committee recommended the issuance of an Executive Order to compel the effectiveness of local government autonomy.

HANDSHAKE ACROSS SOUTH-WEST...

L-R: Chieftains of South-west socio-political group, Afenifere, Chief Olabiyi Durojaiye, Chief Segun Osoba and Senator Ayo Fasanmi, and President Muhammadu Buhari during their visit to the Presidential Villa, Abuja…yesterday GODWIN OMOIGUI

Kidnapping: Osinbajo Never Used the Word ‘Exaggerated,’ Says Spokesman The presidency has made clarifications on the statement made by Vice President Yemi Osinbajo in New York on Nigeria’s security situation.

The vice president’s spokesman, Mr. Laolu Akande, in a statement yesterday, said that the vice president was quoted out of context as he never said that kidnapping in Nigeria was exaggerated. ”For the purpose of clarity, and the records, it is pertinent to state that Osinbajo was entirely misquoted and his words taken out of context in the said media reports especially those that quoted him as saying that.

“Kidnapping in Nigeria is exaggerated and not entirely new.”

He said that nowhere in the Vice President’s remarks at the town hall meeting with the

Nigerian community did he use the word “exaggerated”; not even by implication.

Akande said that the vice president’s remarks about the social media being hysterical were a general response to comments made by participants at the meeting.

Nigerians had asked about information on happenings in Nigeria especially as they relate to security being shared on social media platforms by unverified sources.

“I really will urge that you don’t rely entirely for information on social media. I think that the social media tends to be hysterical about practically everything.

“I think there is also a lot of politics involved in some of the information as it comes up.

“I think it is also important

to point out that this new wave of issues of security came immediately after the elections.

“And there is always a connection between this issue of security and elections because many times, politicians’ arm several of these individuals during the electioneering period.

“Immediately after an election cycle, many of them, having nothing to do and with arms all over the place, resort to the fastest way of making money which is to abduct somebody and ask for a ransom. And that is just one side of the problem.

“But let me dimension it so that you can really understand it better.

“When people say there is security problem here and there, it is not one thing, it is several different things but if it

is described as one thing then it will look bigger than it really is.

“And I am deeply worried about the fact that we might find ourselves unable to resolve these problems unless we drill down to see what the problems are.

“With respect to general kidnapping which we have seen in certain parts of the country, again this is not entirely new.

When you listen to some of the stories, some of them are simply not true anyway.

“Some are fueled by politics, but there are cases of kidnapping, there is no question at all about that….and every story we try to track and trace.

“When you track them, you find out that people just tell some stories, but the truth anyway is that there is kidnapping in places where it has taken place.

Poverty Index: Vice President Spreading Lies in US, Jonathan Insists Martins Ifijeh Following a statement credited to Vice President Yemi Osinbajo in the United States, that Nigerians were poorer in 2010 than under the present situation, former President Goodluck Jonathan yesterday described the statement is false, insisting that the vice president was spreading lies in the US. In a statement signed by his Media Aide, Reno Omokri, and credited to him yesterday, the ex-president said Osinbajo’s claim to the media was an effort to explain away his non-performance in office.

Osinbajo had in New York Monday said: “As at 2010, Nigeria had about 112.7million people living in extreme poverty.

Nothing in place; there was no social investment programme, there was no social security, no way of taking people out of poverty.”

But in his reaction, Jonathan said: “According to the United Nations and the World Poverty Clock (WPC), Nigeria overtook India as the world headquarters for extreme poverty on Tuesday, June 26, 2018, when her population of extremely poor people increased to an unprecedented 87 million people.

“If, according to both the UN and the WPC, Nigeria’s population of extremely poor people hit an unprecedented number of 87 million people in 2018 under General Buhari, how is it possible that there were 112.7 million people living in extreme poverty in 2010?” he queried.

He said if it was true that Nigeria was poorer in 2010, the country would have overtaken India as the world headquarters for extreme poverty in 2010, noting that as at that time, India did not have such numbers of extremely poor people.

Jonathan said: “You see that

no matter how far and fast Osinbajo’s regular falsehood travels, it will always be overtaken by truth.

“The truth is that the period between 2010 and 2015 witnessed the most radical reduction in poverty, ever in Nigerian history.

“For instance, according to the annual Global Hunger Index published by the US-based International Food Policy Research Institute, whereas hunger increased in other parts of sub Saharan Africa, for the first time since records were kept, hunger reduced in Nigeria by 20 per cent in 2013 under my administration.

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COMMENT

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

NAFDAC DRUG TARIFFS: AN OBJECTION Sonnie Ekwowusi writes that the tariffs will further increase hardship in the land

F

rom all corners we are buffeted, maimed and killed. If some of the Fulani herdsmen are not chasing us to kill us, the kidnappers and bandits lurking at the dark corners are laying siege on expressways to capture us and kill us or use us for ransom.

Oh God! we beseech thee. We pray thee. Have mercy on your children. We are dying day by day. Our political leaders are insensitive. They do not care about the welfare of the people. Nigeria is uncertainty writ large. We live in an unpredictable environment. Policies are in constant flux and somersault in Nigeria. One could wake up one day to hear that the roof over one’s head has been compulsorily acquired by the federal government. Just imagine, the National Agency for Food and Drug Administration and Control (NAFDAC) imposing prohibitive tariffs on fees paid by manufacturers and importers of medicines in Nigeria. The high tariffs affect clinical trials, facility and G.M.P inspections, forms and certificates, laboratory analysis, permits to import and clear drugs, registration, investigation charges and ancillary fees. Registration fees for prescription-only-medicines have sky-rocketed to 300% effective June 2019. Even some of the new tariffs are payable in dollar currency, a clear violation of the Central Bank of Nigeria bye-laws.

The painful aspect is that the views of the veritable stakeholders were not sought prior to the imposition of the new tariffs. The new tariffs no doubt will lead to a drastic increase in the prices of virtually everything in Nigeria especially the prices of drugs and foodstuffs. Consumers might be forced to pay more for a sachet of “pure water�, loaf of bread, tin of sardine, a bottle of beer, groundnut and other consumables. Many sick Nigerians will continue to die because they cannot afford to buy the exorbitant drugs sold in many pharmaceutical shops in Nigeria.

Therefore I am respectfully vehemently opposed to the new tariffs imposed by NAFDAC on drug importation in Nigeria. The ordinary sick Nigerian has once again been singled out for destruction. The rich and their children will always find their way to America or Europe to get the best medical treatment. But the poor Nigerians are always with us waiting to die. The few times I have accompanied the Friends of the Sick International (an NGO that caters for the sick) to visit some hospitals in Lagos I have seen many patients waiting to die. At one hospital we met a poor patient who was content with begging us for only N1,000 to purchase his essential drugs. Tears rolled down my cheeks. Therefore I repeat: I am opposed to NAFDAC tariffs on drug importation. I don’t know what has become of NAFDAC lately. Under the watch of the queen of the Niger, Professor Dora Akunyili (of the blessed memory), NAFDAC was people-friendly. The agency was constantly in the news for confiscating counterfeit pharmaceutical products, baby foods, drugs and others from fake drug peddlers. Today NAFDAC is anti-people: it is slamming high tariffs on essential drugs imported into Nigeria.

In the past there were about 100 drug manufacturing companies in Nigeria. But 25% of them had shut down operations owing to harsh economic conditions. The rest are producing below capacity. They have to mix production with importation in order to stay in business. In fact all

THE NEW TARIFFS NO DOUBT WILL LEAD TO A DRASTIC INCREASE IN THE PRICES OF VIRTUALLY EVERYTHING IN NIGERIA ESPECIALLY THE PRICES OF DRUGS AND FOODSTUFFS

the drug manufacturing companies in Nigeria produce less than 20% of our drug needs. Which means that about 80% of unmet medicaments in Nigeria are imported from abroad. So, why should NAFDAC impose prohibitive tariffs on medicaments? Mind you, the Federal Ministry of Finance, under the watch of former Finance Minister Kemi Adeosun, had imposed a 20% duty on drug importation in Nigeria. Despite several protests the duty hasn’t been removed. Now NAFDAC is imposing its own tariffs on drug importation. The impression many people are getting is that the Buhari government is irresponsible. For instance, in 2013 Nigeria agreed with other ECOWAS countries that drug importation into the sub-region should attract a zero duty. Nigeria and other countries in the African sub-region kept to the agreement. But when the Buhari government came to power in 2015 it slammed a 20% duty on drug importation in Nigeria. The question is: if all the ECOWAS countries are operating a zero tax regime plus lower port charges on drug importation, why should Nigeria impose tariffs on drug importation? I don’t know the last time you bought malaria tablets. Malaria tablets, in case you don’t know, sell for about N3,500 these days. Many Nigerians who cannot afford to buy the exorbitant essential drugs in the Nigerian markets have resorted to patronizing babalawos, dibias, juju men, pastors, fortune-tellers and herbalists for succour. It is a big shame that at a time when many countries including small ECOWAS countries are removing all tariffs on drug importation in order to provide their citizens access to medicine at affordable prices, Nigeria is still imposing tariffs on drug importation. Small wonder the country is now ranked as one of the six countries in the world with the worst health system alongside war-torn countries such as Republic of the Union of Myanmar, Central African Republic and Democratic Republic of Congo. Small wonder Nigeria is now ranked as the second country in the world with the highest maternal mortality rate. Nigeria is the second country in the world with the highest number of people living with HIV/AIDS. Nigeria is now ranked first in the world among the countries with the highest number of malnourished children. Nigeria is also ranked first in the world among the countries with the highest number of people lacking access to basic primary health care. Cancer epidemic has broken out in Nigeria. Life expectancy in Nigeria is low.

Already sudden death is now rampart. You will see a man looking hale and hearty today but tomorrow he is dead. For the first time in the history of our country many university students are committing suicide.

The Buhari government should understand that human development is the epicentre of all developments. It should understand that the basic objective of all developments is to get the people to enjoy healthy and creative lives. Health is wealth. Needless sermonizing on fighting corruption when the people lack access to essential medicines. Interestingly President Buhari and other rich Nigerians spend millions, if not billions, of our money on medical tourism every year. If the quality of medicine in Nigeria has comparatively improved, the huge amount of money squandered on medical tourism every year would have been saved.

HOW IMO IS‘GARNISHEED’

Okorocha’s Imo State is lawlessness writ large, writes Steve Osuji

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hat the eight-year reign of Governor Rochas Okorocha left Imo State a wasteland is common knowledge to most Imo people. Our people are not stupid. Indeed, they are witnesses to the vandalism callously meted against their state. They are also aware of the vicious vendetta Okorocha unleashed on our mother land in the two months after he lost the guber election. Since he never planned for an exit, the loss at the polls sent him into what one wants to describe as a paroxysm of plunderation. It’s something that is also called scorch earth policy in war: which means that you don’t just conquer an enemy, you raze him to dust.

Okorocha did not only conquer Imo, he tried to obliterate her.

Imo people are of course witnesses to the frenzied last minute pillage of the state’s physical assets.

Meanwhile, more debilitating and unseen havoc were unleashed on the state. Here are some of them.

One, about 150 (yes, that isn’t and error) garnishee orders are hanging around the neck of the state right now. A garnishee order, for those who may not know, is a judgment entered against a person or state which must be forcefully executed.

It is often borne out of lawlessness of the state and also, criminal collusion by officials of state against the state.

Recall that in eight years of outlawry, Okorocha never obeyed any court order or judgment. And there are dozens of them. Most of these cases, especially the contractual ones had gone their full courses and judgment passed and in some cases, execution is being levied.

The result of this catalogue of garnishee orders are liens running into billions of naira. Right now, many of the holding bank accounts of Imo State government are under liens. This means that whatever funds may be in these accounts are on lockdown by the courts. The state government

would have to show cause quickly why these sums should not be handed over to some of the litigants.

One hundred and fifty garnishee orders! This cannot be heard of anywhere else in Nigeria or even the world at that. Okorocha and his gang practically ‘garnisheed’ Imo for supper!

Another baleful bequeathal of Okorocha to Imo people is the use of concession to hijack and acquire some of the most lucrative and revenue-yielding businesses of government. Some of these outfits dubiously acquired include the inimitable Concorde Hotels Limited built by Chief Sam Mbakwe about 40 years ago. Billions of naira of state fund was deployed to renovate it a couple of years ago yet the edifice is in a shambles now; yet the hotel is said to be under concession and the new government cannot have access to it. Not ever a few rooms to be allowed as a holding bay for new appointees invited from outside the state as was the practice.

Water works, some hospitals, state transport company and Adapalms Limited; to name just a few. All the new government of Ihedioha can find are concession documents but not cash or a trace of it from the numerous concession arrangements.

The story of Adapalms is particularly pathetic.

Probably the biggest integrated palm oil estate to be found anywhere in the world, Okorocha immediately hijacked it on assuming power in 2011.

He claimed to have concessioned it to a hurriedly set up foreign firm Roche. But as it turned out Okorocha was by proxy, feeding on the cadaver of Adapalms. He milked the remains of the massive palms estate without adding any value through this period. No revenue from concession, no proper management, no new seedlings planted and no fresh technical input for an enterprise that could easily yield more revenues to the state than funds coming from federal allocation.

Did you know that Imo State had a large rubber plantation? Did you know that Imo had

Cocoa plantation? Is it not common knowledge that Imo State is one of the centres of cashew nuts production in Nigeria? All of these common wealth were being exploited stealthily by Okorocha and his rapine gang. But just last week, Governor Emeka Ihedioha inaugurated committees to review and revamp both the Adapalms and the rubber plantation. More to come.

A third atrocity committed against Imo people

by Okorocha which many may not notice is the states’ pension racket. For eight years Rochas did not only fail to pay substantial pensions to freshly disengaged and retired civil servants, he damaged the entire record of the states’ pension scheme. No trace is left for the in-coming government.

As it stands now, it is almost impossible to determine the status of the pension system in Imo State today. The implication of this in terms of finance and psychological well-being of the service is better imagined.

But more dastardly is the fact that Imo is among the few states in the country not to have keyed in to the national Contributory Pensions Scheme (CPS) being managed by National Pension Commission (PENCOM). According to the commission, Imo State had not commenced the remittance of contributions and had not funded the accrued rights either.

Imo is the only state in the south east not to have done this. Imo State University had to unilaterally commence the scheme in spite of the state government. Of course there is no doubt that through his eight woeful years Okorocha would have deducted workers’ pension contributions but never remitted them. Such is the disdain he had for the workers of Imo and his people.

Now this, at a recent Extended Executive Council meeting, the management of the Imo State Ministry of works confessed that they were never allowed to do any projects for all of eight years Okorocha held

sway. Most damning is the fact that the extensive underground Owerri flood channel built by Sam Mbakwe was never de-silted for eight years, they reported.

The result is that today, Owerri is under a deluge of flood at the slightest rain. Apart from the floodprone Chukwuma Nwoha by Dick Tiger roads in Aladinma area of Owerri, Port Harcourt Road by Assumpta, Okigwe road and several other parts of Owerri are no-go areas when it rains. Ihedioha’s Exco has decided to begin by de-silting the entire underground channels.

Most of the so-called roads built by Okorocha are being rapidly washed away by the rains. Hardly any road is safe and easily pliable. The fourth inland road has lost one lane to erosion and it is cordoned off. The flyover across Okigwe Road by Orji is now closed because a portion is caving in.

It was built by Roche, a firm synonymous with Rochas and redolent with odious shenanigans.

For the first time in recent times and under the watch of Okorocha, Heartland Football Club, went into relegation from the top division and managed to return to top division. It took the intervention of a newly sworn in Governor Ihedioha to pull back the club from the precipice of another relegation.

Heartland FC played away from its home turf, Dan Anyiam Stadium last season. Okorocha’s government could not maintain his number one stadium.

In fact all the sports facilities are in utter decay.

Such is the state of Imo under Owelle Rochas Okorocha for eight years. He literally ran Imo State aground. Yet, to cover his shame, he is in the media daily to extend his propaganda. But he seems to forget that Nigerians know that tweaking the truth is an integral part of Okorocha’s life? No amount of lies and propaganda can cover his baleful legacy in Imo State.

Osuji is Special Adviser, Media to Governor Emeka Ihedioha

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T H I S D AY WEDNESDAY, JUNE 26, 2019

EDITORIAL Fixing The Lagos-Badagry Expressway The Lagos –Badagry road deserves immediate attention

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he Lagos-Badagry Expressway, Nigeria’s busiest land entry route, is well positioned to bring great glory and gains to the country. But rather than being instrumental to huge economic, social and cultural benefits, its perennial squalid condition has continued to cause unprecedented agony, losses and disgrace. Anything short of a decisive approach to its reconstruction would betray a lack of appreciation of the despicable status of the highway and its multiple consequences. We therefore urge President Muhammadu Buhari to liaise with Governor Jide Sanwo-Olu of Lagos on how to fix the road without further delay.

The potholes and crater-like pits, which have become permanent features of many parts of the road, hamper vehicular movement that worsens when they bear puddles during the rainy season. The entire stretch from Mile Two, through Agbara to Badagry and then to Seme, the border post at the Republic of Benin end, the expressway constantly THE CONTINUOUS hosts gridlocks, in NEGLECT OF THE addition to being EXPRESSWAY IS A a death trap. The HINDRANCE TO FREE outcomes of this sorry state are enormous: MOVEMENT OF PEOPLE AND GOODS, A CARDINAL more pressure on the PILLAR OF THE ECONOMIC physical and mental health of affected road COMMUNITY OF WEST users and residents; AFRICAN STATES numerous missed man hours; further environmental degradation; massive obstruction of business life; atmosphere conducive for criminal activities like armed robbery; negative international public relations for Nigeria, among others.

The gravity of these repercussions must not be ignored. Remarkably, the frustration of the public on this matter appears to be reaching its peak. While addressing a protest embarked upon the other day by students and civil society organisations, President of Women Arise for Change, Dr Joe Odumakin, aptly described the highway

Letters to the Editor

as a gateway of pain and anguish. “A lot of people are dying on the road. Tourism has almost collapsed. This is a place where over 460 billion naira has been spent to rehabilitate. There’s a nexus between infrastructure in terms of roads and the economy, but the economy here is almost coming to stagnation. This is a West African road, and this has become a national shame”, said Odumakin.

I 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

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n many ways, the sordid state of the road is truly humiliating and self-cheating. Being the Nigerian section of the Trans-West African highway that links Lagos to Dakar in Senegal via Benin, Togo, Ghana and Cote d’Ivoire, it is a critical aspect of sub-regional integration. Also, with the country, as the largest economy in West Africa and the rest of the continent, the continuous neglect of the expressway is a hindrance to free movement of people and goods, a cardinal pillar of the Economic Community of West African States (ECOWAS). It should, therefore, be regarded as an integral component of any design to maximally exploit Nigeria’s clear comparative advantage among fellow West African countries. It is indeed ironical and sad that the nation, eminently endowed for leadership and stands the chance to profit bountifully from intra-regional transactions, has displayed lack of political will in revitalising an indispensable factor like land transportation.

Renewed vision and vitality are needed to fix this quagmire before it becomes completely hopeless. Other major development projects in the area like the 2.6 billion dollar Badagry Deep Sea Port, when fully operational, can compound the already suffocating traffic crisis if it is not adequately tackled soon. Because of the protracted nature of this predicament, many Nigerians are sceptical of government’s seriousness and capacity to end it. For this reason, both the federal and Lagos State governments have to move from their recent pronouncements to visible, concrete action. Their plans, though laudable, should now result in the actual rehabilitation, reconstruction and expansion of the expressway. As a strategic economic lifeline, it must not be subjected to another long period of abandonment.

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.

HEALTH FOR JUSTICE, JUSTICE FOR HEALTH

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he United Nations’ (UN) International Day Against Drug Abuse and Illicit Trafficking falls on June 26 each year to raise awareness of the major problem that illicit drugs represent. This year’s theme is: Health for Justice, Justice for Health which highlights that justice and health are two sides of the same coin when it comes to addressing drug problems.

The menance of illicit drug trafficking and abuse is not only a problem in Nigeria but also to the global community. It poses heinous threats to human lives, destabilizes economic development, weakens national security, undermines public health, trade engagements and puts the health of citizens in danger.

As a nation, we have had our share of crime almost on a daily basis what with many of our youths being arrested while attempting to traffic hard drugs such as cocaine, heroin and marijuana in their hair, brassieres, panties and stomach, etc., both within and outside the country. The consequences of the production, distribution, trafficking and consumption of those illicit and sub-standard drugs no matter the form can be titanic to the entire human race.

To maintain a drug-free and healthy healthcare system, drug offence in some countries, especially Asia, Saudi Arabia carries a death penalty, yet the fight against drug trafficking is far from success. Only recently, a Nigerian woman was beheaded and another executed in Saudi Arabia for drug running which ignited a vigorous discussion about this miserable business.

These traffickers clearly know the score if they are caught, or if their drugs explode in their bellies. But I believe that whatever the basic reason for wanting to be involved in this business, the ultimate consideration for these drug traffickers before going ahead is the principle of risk calculation.

This year’s theme “Health for Justice, Justice for Health” resonated with the recent upsurge of first ever national drug survey report released by the

United Nations Office on Drugs and Crime (UNODC) indicating markers to be pushed at achieving target five of Sustainable Development Goal (SDG) three, “strengthen the prevention and treatment of substance abuse, including narcotic and harmful use of alcohol” which needs to be reviewed in the country as well as in the sub-region. The National Drug Survey released earlier this year by UNODC shows that the drug problem in Nigeria is extremely serious, with drug usage reported as being at twice the world average of 5.6%.

It also makes one wonder which society will be at peace with itself having one out of seven of its general population corresponding to 14.3 million people (14.4%) of those aged between 15 and 64 years had used a mind-altering substances in the past year for non-medical purposes. Women drug users cannot be considered a hidden population anymore, as one in every four drug users in Nigeria is a woman, while only 5% of those in treatment are women.

Little wonder that in many states of the country, there are no treatment centres for drug abuse victims despite the fact that more people will be disabled by drug-related challenges than complications arising from HIV/ AIDS, heart disease, accidents and wars combined by year 2020.

The images on our streets of mental patients who have a history of drugs should be enough motivation for more informed policies, building rehabilitation centers and programmes that will incorporate social activities to prevent drug abuse amongst youths. As we continue to combat the drug epidemic, the government has done well by setting and supporting up the NDLEA, Presidential Committee on Drug Abuse and Control, NAFDAC, and other agencies involved with the war on drugs. But there should also be focus on how to disrupt their supply chains, protect our borders from traffickers and control access to precursor chemicals. It behooves on the government to intensify efforts on effective prosecution of drug barons in our society.

Yusuf Hassan Wada, Usmanu Danfodiyo University Sokoto.

OUR ARMY GOT TECHNOLOGY?

W

hy is the present general stall of the Nigerian Army (NA) like this, playing smart-alecky and assuming that Nigerians are fools? Now that the Yoruba tribespeople of the Southwest and the Middle Belt regions are uniting in a common purpose to check the Fulani menace the NA top brass suddenly promised to deploy “technology” to Ondo and Ekiti States in order to “curb kidnapping” by employing drones. Uh? You mean the NA has the resources of aerial surveillance unmanned vehicles to detect “baddies” and Boko Haram still catch them by surprise and can wipe off up to scores of soldiers at a go in a place like Melete village in the Northeast? Why won’t the army deploy this crucial resource to tracking kidnappers at the Abuja-Kaduna highway since this stretch of land is less devoid of thick vegetation than the Ondo-Ekiti axis, thus making it easy for the NA to catch kidnappers? Basically, why is the NA trying to fool Nigerians? When it appears that natives are determined to confront Fulani criminalities, phew, the NA pops up in defence of the Fulani; this has been going on for some time now and the world is watching.

Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna, Niger State

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WEDNESDAY JUNE 26, 2019 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY JUNE 26, 2019

MIDWEEKPOLITICS

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

NEWSMAKER

Unravelling an Impending Denouement in Bayelsa Emmanuel Addeh writes that the reluctance of Governor Seriake Dickson and former President Goodluck Jonathan to openly state their preferred candidate to fly the Peoples Democratic Party flag in the November 16 governorship election in Bayelsa State has created a tension soaked atmosphere

Cleopas

B

oth political leaders have struggled to deny what looks like a widening gulf between them, but close observers of the Bayelsa State polity, admit that in the days leading to the Peoples Democratic Party (PDP) governorship primary, ex-President Goodluck Jonathan and Governor Seriake Dickson are in a dilemma. They are in a challenging situation concerning how to effectively manage their fragile relationship.

That bond appears to have further received a crushing dent after the last state and National Assembly elections when a complex slew of developments led to pronouncements by the leadership of the PDP that certain forces within worked against the victory of the party in its traditional stronghold, especially in Bayelsa East, where the former President hails from.

The gains recorded by the opposition, All Progressives Congress (APC) has never been experienced in the political history of the state since 1999. The APC grabbed a Senate seat as well as a House of Representatives position in that election, seriously creating a question mark on the long-held notion that the PDP remains the only party for the Ijaws, the dominant ethnic group in Bayelsa.

After that poll, it was time for stock-taking.

The panel set up by the leadership of the party in the state, said it discovered that in several parts of the state, especially in the East of Bayelsa, there were anti-party activities by known leaders who endorsed members of the opposition for various elective positions, rather than work for the victory of the party.

And as the deadline for the submission of nomination for governorship aspirants in the party draws near, and serious groundwork on who succeeds Governor Dickson begins, power brokers within the party appear to be kicking against handing over the selection of the next governorship candidate to the same persons who they said worked against the party during the last election.

The state leadership of the party was said to be irked by the alleged decision of known associates of the former President to sabotage the party by throwing their weight behind opposition candidates of the APC and the Action Democratic Alliance in the last election, which reflected in the results.

Aside from the loss of two House of Representatives seats, the PDP also lost three seats to the APC in the 24-member Bayelsa State House of Assembly, though the party has gone to court to quash that announcement, saying it believes that the APC victory was wrongly announced.

The former President stayed away from the campaigns as long as they lasted, choosing to remain silent to the bewilderment of party leaders. His silence then is now being used

Dickson

against him, as party leaders insist that since he did not give them the least support during the 2019-natonal-elections, he shouldn’t be given the right to determine who emerges the next governor on November 16.

Before the last poll, the signs that all was not well within the party was everywhere. A bitter PDP leadership, led by Moses Cleopas, after setting up a panel of investigation into the conduct of party leaders and members, said the decision was with a view to taking disciplinary measures against those who wilk be indicted.

Accordingly, a seven-man PDP Disciplinary Committee was set up by the State Executive Committee, which it said was in line with the provisions enshrined in the party’s constitution to check acts of indiscipline among members.

“No matter how highly placed, anyone, in government or out of government, once this party has evidence showing that you are using your privileged position, because your preferred candidate did not win, you now go and play hide and seek, you now pick and choose which candidate to work for, we will send you out of this party in no time at all,” the PDP leadership said.

However, the report of that panel never saw the light of day, a decision many ascribe to the resolution of the party not to rock the boat, since it will disrupt its internal cohesion.

Many leaders of the PDP are also bitter that the former President did not speak up during the election, the PDP reportedly came under a heavy attack from security forces allegedly deployed by the APC. “It is our viewpoint that a man who deliberately refused to condemn the murder of a Government House Photographer and a party Chieftain in Southern Ijaw and the brazen acts of impunity at Nembe Bassambiri is not in the best moral position to decide the party’s governorship candidate.

“There is also the prevalent belief that Jonathan’s lack of firmness and decisiveness is at the root of most of his problems. The seeming overbearing influence of his wife, Patience has not helped his popularity with the political crowd and its leaders in Bayelsa,” said a top party source.

He added, “Very few Bayelsans including those that are apolitical would jump at the idea of a Bayelsa being governed by a man who would hand over the state to the controlling influence of a former First Lady.”

“This is one major factor that has militated against the ambition of Reuben Okoya who is a close ally of Patience Jonathan. To many of us, that is Okoya’s main obstacle to the Bayelsa State Government House.”

This viewpoint is also shared by close allies of Governor Dickson, who at a meeting with PDP stakeholders in April posited that he would

Jonathan

only support somebody from the Restoration Team (a sobriquet for his administration) to fly the party’s flag in the governorship election.

It’s obvious that the members of his government are waiting to anchor their ambition to govern the state on the endorsement by the governor who is believed to be in firm control of the party and all its structures from the ward to the state level.

That comment that his successor will emerge from his team, may have also created anxiety in the camp of the so-called outsiders such as Chief Timi Alaibe, and those who are not part of the Dickson caucus like Amb. Godknows Igali, Okoya and a host of others who on one hand are seen as Jonathan’s boys and on the other hand also yearn for the governor’s blessing.

This set of aspirants, understandably, also perceive former President Jonathan as the lifeline for their ambition to rule the state.

But while both leaders have held closed door meetings with no other person in attendance, the outcome of such deliberations are closely guarded secrets. This has led to a lull in political activities across Bayelsa due to their silence.

However, a close Dickson ally who is also member of the State Executive Committee of the PDP noted, rather confidently, that the issue of who succeeds the governor is a decision solely reserved for the governor.

“As it is today, the PDP in Bayelsa takes directives from only one man - Governor Dickson - whose firm grip on the party is as impregnable as it is impenetrable, although it would strengthen the PDP further if the two leaders agree on a consensus arrangement,” another PDP chieftain said.

But Jonathan had recently dismissed the claim of engaging in anti-party conduct with a wave of the hand, describing it as “manifestly dishonest, deceitful and preposterous,” through his Media Adviser, Ikechuckwu Eze. “It is manifestly dishonest, deceitful and preposterous for anybody to suggest that former president, Dr. Goodluck Ebele Jonathan is working against the interest of the party on which he rose to occupy the highest office in the land.

“As one of the leaders of the party, having served as president on the platform of the Peoples Democratic Party, it is obvious that Dr. Jonathan has continued and will continue to work for the success of PDP across the nation.

“He is also a father-figure and a statesman whose door is open to all Nigerians desirous of visiting or consulting him on sundry matters, including politics. Even then, he has always given his support and blessing to his party’s candidates in all elections,” he said.

Did Dickson unilaterally impose candidates in the last election, which forced the former President to withdraw any form of support that

gave the APC privileged access in his domain as being insinuated?

A reliable source told THISDAY that the governor consulted widely, including having a series of meetings with the former Nigerian leader whose attitude he said was non-committal throughout the private meetings until the national and state assembly elections were almost at hand and the party leadership and the governor had to take a decision as to who should be fielded.

Despite what appears like a glaring crack, Governor Dickson last week shut down insinuations that he was fighting the former President over who emerges as the next governor in the state.

Speaking during a media chat in Yenagoa, the governor said that if anything, aides of the former Nigerian leader were taking advantage of their closeness to him to make careless statements.

Dickson posited that when the time comes, he would consult with Jonathan and other major stakeholders on the governorship candidate that will emerge on the PDP platform.

“We know what to do quietly. Even in this transition, if there’s one person I am going to sit down with , it’s going to be former president Jonathan.

“When I am ready after all these prayers, I will visit him because he’s an elder and we will compare notes,” he said.

He said that he remains in charge of the state, but blamed some allies of the former president for stepping beyond their bound.

He added, “I have the direct responsibility of administering the state and I believe I have his support, but sometimes from aides, you get all sorts of things. He’s traveling round the world.

“But we can’t keep addressing the press everyday that there’s no problem, which will mean that there’s a problem.

“We are united when it comes to what is good for our people. There’s no political relationship that has lasted longer than that the two of us and we are very mindful of that.

“These are volatile times in terms of managing a transition and it can be quite turbulent. But it can be quite reassuring that you have his support. The bottom line is that I am in charge of government and there has been no interference.

“We will consult and rub minds. There are no issues. I know that there are people around who make careless statements and sometimes they have expectations that are unreasonable,” he maintained.

“They like to take advantage of the proximity they have (to Jonathan). Essentially, there’s no problem between us. I have some experience in this game. The outcome of the prayers and consultations will address all these fears. What is comforting is that there’s no candidate of the APC that can defeat us,” he said.

T H I S D AY ˾WEDNESDAY JUNE 26, 2019

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ANALYSIS

In Osun, It’s Getting Close to the End Ibrahim Sarafa writes that the decision on who rules Osun State should not be subjected to the whim of electoral officials

Oyetola

I

t is nearly one year that Osun people went to the poll but they are left at the mercy of the judiciary to determine who got their mandate to lead the state for four years.

From polling units, the faith of Osun people shifted to the court rooms after interference weighed heavily on the announced result.

Eligible voters in Osun state– grandparents, people in wheelchairs, artisan and civil servants, even students–came out and endured the scorching sun on September 22, 2018, to cast their votes for the governor of their choice. But they woke up the following day to be shattered.

They were left with many questions than answers when the Independent National Electoral Commission (INEC) declared the election inconclusive.

It was a decision that stirred more controversy than any reasonable justification. Even when INEC eventually tabled why it took that step, it stood in conflict with the constitution of the country. Elections are constitutional matter and every process in its conduct should conform to the country’s legal document.

As a conscious citizen, I reached for the constitution to better understand the scenario playing out. Before INEC ruled the Osun governorship election inconclusive, two candidates; Senator Ademola Adeleke of the Peoples Democratic Party (PDP) and Gboyega Oyetola of the All Progressives Congress (APC), were leading in the contest for the top political office in Osun state. Collated results from the 30 local government areas put the votes polled by Adeleke at 254,698 and Oyetola at 254,345, giving the PDP candidate an edge with 353 votes.

Unimaginable violence, intimidation, inducement were unleashed on Osun people but they stuck to their choice of Senator Adeleke. Even on live television, everyone was stunned as to how 1000 votes mysteriously disappeared from the PDP tally in Aiyedade local government. Despite all the manipulations and violence, the people spoke so loud and their choice was Senator Adeleke.

From the results, it was glaring that a winner had emerged. This was so because

Yakubu

Senator Adeleke had fulfilled the clear provision of Section 179(2)(a) and (b), that prescribed condition for a governor to emerge. In an unambiguous term, it stated that for a candidate to be deemed to have been duly elected as governor “(a) he has the highest number of votes cast at the election” and “(b) he has not less than one-quarter of all votes cast in each of at least two-thirds of all local government areas in the state.”

With the official results, elections had held in the requisite two-third of all local governments in Osun state, and Sena-

It was a decision that stirred more controversy than any reasonable justification.

Even when INEC eventually tabled why it took that step, it stood in conflict with the constitution of the country. Elections are constitutional matter and every process in its conduct should conform to the country’s legal document

Adeleke

tor Adeleke had majority of the votes casted. That is the position of the 1999 Constitution of Nigeria (as amended) and clearly, Senator Adeleke fulfilled the requirements of the constitution from the collated results of September 23, 2018.

Surprisingly, INEC had a different idea and easily, clinched to it manual and guidelines to declare the election inconclusive on the technicality of ‘undecided’ election in seven polling units.

We must get something straight here, the constitution is supreme and binding on all persons and authorities, including INEC. Its supremacy is better established in Section 1(3) that “If any other law is inconsistent with the provisions of this constitution, this constitution shall prevail, and that other law shall, to the extent of the inconsistency, be void.”

Quite simple and straightforward, yet, INEC decided otherwise.

This stirred so many questions, including the power of the State Returning Officer of INEC to cancel results of the seven polling units. Obviously, the results of the September 22, 2019, election had fulfilled the clear provision of the constitution (as amended) and the opinion of INEC manual and guidelines cannot override a clear constitutional provision.

As experienced in Osun governorship election, INEC had relied on its guidelines to reject the registration of some political parties in 2002. Late Chief Gani Fawehinmi whose party was among those rejected on the basis of not meeting the requirements of INEC guidelines, contested the decision as unconstitutional and his arguments were upheld by the Supreme Court, which stated that political parties must be registered in accordance with the constitution, and not INEC guidelines. With this apex court decision, it is evident that the constitutional provision, not INEC manual or guidelines should have been applied on the Osun governorship election.

This was reinforced in the case of INEC Vs Musa (2003) 3 NWLR (PT.806) 72 at 157 for the principle that “where the constitution sets the condition for doing a thing, no legislation of the National Assembly or of a State House of Assembly can alter

those conditions in anyway unless the constitution itself as an attribute of its supremacy so allowed.” It is not only confusing but a dangerous affront on the constitution, which provisions are clear enough on how a governor should emerge in an election.

In essence, INEC goofed and that denied Osun people the reflection of their will. I don’t believe that its manual and guidelines qualified as laid down process in Section 9(1) of the constitution by which the constitution can be altered, hence, it is grave injustice for Osun people that their mandate is subjected to the whim and caprice of electoral officials and not the constitution. Not even Electoral Act talk less of INEC manual and guidelines can supersede, or seek to add to, or subtract from, or amend clear constitutional provisions.

But we all saw what happened and that agitated the quest for justice. From the tribunal to an appellate court and now the Supreme Court, the tone has been the same– establish the superiority of the constitution and give Osun people justice. Osun people should decide their governor, not the manipulation of compromised electoral officers.

It’s worth emphasizing, too, that just as the constitution is supreme to every other legislation or guideline, the will of the people is above any other interest or opinion in a democracy. This is more reason why the quest of the people for justice deserves a thorough look and fair resolution.

The protest of Osun people as canvassed in Senator Adeleke’s appeal before the Supreme Court must be seen as more than a demand for individual justice but that of the people. It is a democratic outcry, demanding that justice be actually done– and a clear message that the supremacy of the constitution and the people’s will cannot be manipulated for personal benefit. The justices of the apex court have been called upon to adjudicate and the whole world is waiting with bated breath to see how it goes. The Osun governorship tussle presents a bigger test for our judiciary, as the world awaits the Supreme Court verdict.

T H I S D AY t WEDNESDAY JUNE 26 , 2019

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325

Setting the Pace in Humanitarian Intervention with VSF Kasim Sumaina delves into the mind of the Executive Director, Victims Support Fund, Sunday Ochoche, whose foray in the past six years in the Boko Haram ravaged Northeast has been solely targeted at bringing humanitarian interventions to the displaced

T

he Boko Haram sect, when it was first formed by Mohammed Yusuf in 2002, their actions were nonviolent. Their main goal was to "purify Islam in Northern Nigeria.

10 years after he was killed, the group has since been led by Abubakar Shekau, who keeps reincarnating. Since then, the group has turned into bloodletting and destruction of lives and properties.

Nine years ago, in 2010 to be precise, the notorious terror group called Jamaatu Ahlisunnah Lidda'awati Wal-Jihad otherwise known as Boko Haram unleashed an unwarranted attack on innocent citizens in North-eastern part of the country. Since then, the group has intensified its terror campaign not only against the security agencies but also schools, places of worship, communities, business places and other soft targets.

Initially, people thought aside waging war against the security agencies in the country. It was also believed that the group wants to wipe out the Christian community especially in the North following a series of attacks on churches and even Christian community. However, a number of attacks on Muslims and even mosques have shown that no religion or a certain segment of the society is immune to the cruelty of the terror group. Just last two weeks, the group carried out attack on a mosque even during the holy month of Ramadan.

Victim Support Fund Nevertheless, to alleviate the suffering of Nigerians caught up in the crisis, especially women and children, the government of President Goodluck Jonathan, in 2013, invited Gen. Theophilus Danjuma (rtd) to chair the Victim Support Fund (VSF). The VSF was set up to rehabilitate, reconstruct and to resettle the victims of the Boko Haram carnage.

Six years after the VSF came into existence, it is safe to say that VSF has touched the lives of the internally displaced persons (IDPs) comprising mostly children and women caught up in the theatre of war. Maiduguri, the capital of Borno State, despite the carnage is a beauty to behold as schools and other infrastructural facilities are being put in place daily.

The Executive Director, VSF, Sunday Ochoche, while revealing the achievement the fund has recorded essentially in the North in its bid to rebuild the North-east was quick to point out that the major challenge is security.

Ochoche told THISDAY that security remains very fragile and with a little relapse in that security situation becomes a major set back to the reconstruction efforts and of course, the needs are enormous and the resources are very limited. He expressed regret that these enormous needs, which are priority, should have been taken care of since yesterday.

“So, you are confronted with very pathetic human crisis”, he added.

According to him, “when you have for example, an emir whose palace was destroyed

and barely escaped and now the palace is reconstructed and he just can't go back because he hasn't still recovered from trauma he went through. That is even at the level of the emir.

Now, think of what other regular people have gone through.

“The challenge of the recovery, the rehabilitation and the reconstruction of the human being, remain a major crisis in the North-east.

And you know, these are issues really that we have to work hard to address. I think, reconstructing the physical infrastructure is probably the easiest part but, addressing the perception of the insecurity of the individual will take a while.”

Successes Narrating the success recorded so far, he noted that in the last three months, the fund didn't actually do much because it was a cycle of the electoral process. He added that usually, the beginning of the year is a period of intensive planning which includes the process of its budgeting and the process of detailed analysis and assessment of the determination of projects for the year, as well as meeting and consultation with partners and stakeholders and getting to a concrete understanding of agreement of what it's going to do for the year.

"So, we have tried to do that because, a major challenge many agencies in this country are working without plans or sometimes they plan without facts. We pride ourselves as being a knowledge driven, programmebased agency and therefore, facts, knowledge, understanding, assessment are very important for the way we do things.

"Evidence-based programming is what Victim Support Fund is about and then for the beginning of every implementation year is one in which we try to have all the evidence at all parameters that would guide us in what we do. So, we spent a good part of the year, doing that but, that's not to say that we have not started project implementation.

“We have constructed the rehabilitation center in Bulukutu, in Maiduguri, we have just commissioned it. It will be a rehabilitation center for a number of the victims of Boko Haram insurgency including some of the fighters that have been rehabilitated. That is where they would normally be brought to learn trade, to do schooling and we have spent quite some money reconstructing and rehabilitating the entire place so that there could be better facilities and more comfortable environment for these people going to be rehabilitated.

“We have also this year already, commissioned our project in Benue State, especially in Agatu, where we commissioned about eight schools and two clinics. We have commissioned those and they are already being put to use. This year too, we commissioned the biggest project, VSF has ever done. That was the commissioning of the Government Comprehensive School in Takum, Taraba State.

It is, the best school in Taraba state as in

Reconstructed Comprehensive School in Takum

today. Everything was constructed from the scratch by VSF.” Focus on Planning Acknowledging that he who fails to plan, plans to fail Ochoche said, “So, the year is still fairly early and we have spent time planning.

We have met with all our partners and Civil Society Organisation partners, government partners and to preview our performance in 2018 and to plan for 2019. That for us is also a major achievement so that from the beginning, we are on the same page with our implementing partners, so that they understand what we do, get to know what the challenges might be. We get to understand the situation in the field and get to understand what the priorities are that we need to intervene. That we have done and now we have a reasonable idea of what our programmes are going to be in 2019.

“We don't work on assumption, on hearsay or the superficial appearance of things. We drill down to understand precisely what the issues are. We have all the data before we move. Like I said, we have to be an evidence-based organisation, so that, the intervention must be that, yes, we do a lot of support for education and even the support for education, we have to collect the relevant data and we need to know the places that are most affected, the type of support that they require and we need to determine how we are going to support and the number that we will support.

“But, right now, we are supporting primary and junior secondary schools, both in terms of the provision of educational materials as well as the reconstruction of facilities for the schools. We have not really intervened in any terriery institutions yet, but; we have many requests from those institutions that, some of them, we may consider in 2019.”

He further observed that VSF takes serious the partnership collaborating approach to the implementation of these projects, adding that ‘we are a very small agency with enormous responsibilities. We needed to cut down on bureaucracy and under administration, and that is why the overhead cost of our projects

implementation in terms of sub administrative support whether it is from salary to everything we are talking about comes to under 15 per cent of our cost.

“So, one of the ways we have gone around it is to have a lean and efficient organisation that works with leveraging on capacity that are already out there. We have engaged a number of civil society organisations. All of them are domiciled in the relevant communities or states and we engage them, fund their activities, in terms of understanding the issues on ground and they are very helpful because they know and understand the environment, and we tap into that capacity and when we make a decision about projects whether in the area of agriculture or in education or foster care, we engage appropriate CSOs who help with the direct implementation.

"For many of them, the capacities are usually not as good as we will desire and we would have to work to train them to capacitate them and to be able to deliver.

We know that even if the capacity is there, every agency has it own requirements for monitoring and evaluation and we have to bring them up to speed for our own requirements for monitoring and evaluation so that they can do that efficiently for us.

So far, I mean, our experiences with them have been good”.

Fund Intervention for Agriculture Speaking on the fund intervention in the area of agriculture, Ochoche said, "We have worked in Borno, Adamawa, Yobe and Taraba States. Those have been the key states where we have provided our agricultural support. And agricultural support comes in a different phase. We have support to the rainfall agriculture, dry season agriculture and we have support to animal breeding. So, each of these, for the rainfall and dry season agriculture, we provide the seed, chemical and fertiliser input that the farmers require and we also provide tractors for the farmers.

For the dry season farming, we also provide the pumping machines to the farmers.

“On the animal breeding, we normally provide each family with four goats, three

T H I S D AY t W EDNESDAY JUNE 26, 2019

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FEATURES

Relief materials presented to some internally displaced persons

females, one male to the respective family for animal breeding. So, these are basically the type of support that we give to the farmers.

Additionally, we also provide cash support to the animal breeders to enable them provide the feed so that they don't sell these animals off or eat them. Those are the three critical areas that we support in agriculture.”

Women Empowerment On women empowerment, Ochoche explained that the agricultural programme “is an intergral part of our economic empowerment programme. The other part of it is the women economic empowerment programme where very early in our intervention, we recognised that there are so many women who have been affected by the Boko Haram insurgency who have now become head of households and have to provide for their children and household in a cultural environment whereby previously these were done likely by men.

“So, the women needs extra support to be able to survive these whole new challenges that they are faced with. So, we came in, we started with 1000 women in IDPs camp in Maiduguri where we are working closely with the IDPs they identified for us a 100 people from each camp, so a total 10 camps in Maiduguri with income generating capacity.

“We gave each woman N20,0000 and now we have scaled up to Adamawa and Yobe but, in fact, we are no longer working in any IDPs camp now in Borno State. It’s only in the community and I think today, we have about 15,000 women on this programme. We scaled up the assistance to them from 20 to 30,000 and we are now in the process of scaling up from 30 to 50,000 to these women who we grouped according to their trade into what we called the Savings and Loans Associations. “ So, we are not just giving them the money they are well organised around their respective productive endeavour and these ranges from cap making to vegetable oil production and the rest of it. So, they are usually a group of 20-20 and they support

each them and the CSOs we came to work with them organised them into bi-weekly meetings during which they also, they meet their weekly meetings and they keep very good records of these savings and then, today, many of the associations have become a visiting place where others begin to come and borrow money.

“Members of the association who wants to expand their trade, old members as well go to the association to borrow money. So, that has also gone very well and of course, given the numbers that we are dealing with and the challenges we are dealing with, it was to be expected that a few will get these monies and either not perform well or escape with it. But, generally, that has been very few.”

Infrastructural Construction On infrastructural construction Ochoche said: “We started our infrastructural construction in Dikwa Local Government Areas in Borno State, and then, we reconstructed all the schools in Dikwa which were about 11 schools, reconstructed the general hospital, the local government secretariat and a number of staff quarters in Dikwa.

“We also reconstructed a police barrack and a police station as well as revamped a number of boreholes in Dikwa. Then, we moved to Bama. It was the most devastated and destroyed of all cities in Borno State.

And then, we reconstructed eight schools and a maternity, and a local government secretariat. In Southern part of Borno State and Northern Adamawa, in four local government areas; Hawul, Damboa, Askira and Chibok that is in Southern Borno; and then, in Madagali and Hung in Northern Adamawa, we reconstructed 26 schools.

“Then, in Michika alone, we reconstructed the entire local government secretariat complex from the scratch, from the design of it to the completion. Victim Support Fund did that as well as eight schools in Michika local government and a clinic. Then, in Gwoza, all the schools in Damasak, in Gambaru, Ngala local government, all the schools in Magalla, we have finished reconstructing

Before and after picture of Michika Local Government Secretariat in Adamawa State

that of Gwoza and we are almost done with Magali and Mogba local government areas.

“In Yobe state, we are reconstructing about 13 schools. In Benue, like I mentioned earlier, we are reconstructing or providing 28 new class room block in Agatu local government, Guma and Logo local government area as well as five clinics in these local governments.

Like I told you earlier, we have completely rebuilt the government secondary school in Takum, Taraba state. We are in the process of beginning to build a six completely new schools in Gombe state. The government has just given the go ahead for allocation of the land and these are areas of very heavy Internally Displaced Persons (IDPs) presence with no schools or facilities and we will be going there to provide them with schools.

“VSF recently commissioned 147 public buildings and Water, Sanitation and Health facilities (WASH) in Potiskum Local Government Yobe State. The projects were executed across 11 Local Governments in Yobe State.

The renovated structures include hospitals, primary and secondary schools, local government secretariats, local education authority buildings, a local government lodge and deep water boreholes. The intervention aims to promote the re-establishment of local governance and restoration of basic social amenities while creating an enabling environment for return and accelerated recovery.

“The 11 beneficiary local governments are: Potiskum, Fika, Gulani, Geidam, Yunusari, Tarmuwa, Gujba, Busari, Fune, Damaturu and Buni Yadi. VSF continues to strive to bring succour to victims all over Nigeria while also ensuring that resources are utilised judiciously in the execution of all its projects.

So, for schools, I think these are the ones that I can remember.”

"It should be noted that insecurity perception is hate, it doesn't matter how much physical infrastructure you put on ground, if the person perceived himself as insecure, there's nothing you can do about it. So, dealing with the perception of insecurity remains a major

crisis. Of course, like I said, so, when the former president invited General Danjuma (rtd), to mobilise the private sector to come and support the efforts the government was doing which is its statutory responsibilities.

“We look forward to the government to continue to provide the coordination for all of us who are involved and to provide the guidance which we seek in the areas of our comparative advantage and provide support for quick recovery from the very terrible experience we are in as a nation," disclosed Ochoche.

An Undefeated Borno Also, very recently, the Shehu of Borno, Alhaji Dr. Abubakar Elkanemi, hinted that Borno is a kingdom that has being in existence over 1200 years without any interference and despite the Fulani Invasion, the ravage and disturbances between 1892-1900, the tussling riffles in 1980 and then the Boko Harram in 2009 till date, Borno was and can never be defeated.

He observed that things has happened to the people of Borno both good and bad, but Borno was never defeated.

According to him, "Before the coming of the President Muhammadu Buhari, we know the situation we used to be in and the situation we are now in. Our airport was closed for commercial flights for over two years before the coming of the president.

We did not have any good roads, the only good roads we had was from Maiduguri to Cameroon as all other roads were besieged

by Boko Haram "The borders were very porous, Borno shares border between Niger, Chad and Cameroonian. The criminals were coming in any time they liked, they will kill people and go back."

He added that at that time, Maiduguri was hosting about 2 million internally displaced persons comprising of mostly children and women. However, he added that the narrative has changed.

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WEDNESDAY JUNE 26, 2019 • T H I S D AY

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Quick Takes National Insurance Conference Holds in Abuja

The impactofdigitaldisruptionandinnovationontheinsuranceindustry andbusinesswillbethefocusofthe2019NationalInsuranceConference, holdinginAbuja.Theconference,scheduledforJune30toJuly2,2019, wouldtakeplaceat TranscorpHotel,Abuja.

AstatementsignedbytheChairmanoftheConferencePlanningCommittee,MuftauOyegunle,saidthethemewaschosenagainstthebackdrop of the business world currently witnessing an age of dramatic change characterisedbyevolvingbusinessmodelsandpropelledbytechnological innovationanddisruptionthatisshapingbusinessoperations.

Hesaidthishascreatedtheneedforoperatorstoalwayscreateplatforms to address the changing dynamics.The statement said special Guest of honor at the conference would be President Muhammadu Buhari, whiletheInsuranceIndustryConsultativeCommittee(IICC)Chairman, Mr.EddieEfekohaistheChiefHost.

The statement, further said the theme paper “Disruption, Innovation andBusinessGrowth�wouldbedeliveredbytheManagingDirectorof AccessBankPlc,Mr.HerbertWigwe.

Oyegunle,notedthatinabidtomaketheconference,whichisthefifthin theseriesrobust,sub-themesaretofocuson:Digitaldisruption;threat andOpportunity,tobedeliveredbyMrSiegfriedJegels; “Transforming Insurancebusinessthroughinclusiveinsurance�byMrs.EmeEssienLore while“Regulations,InnovationandBusinessGrowthwouldbedelivered byDrDoyinSalami.

Hefurthersaid issuesrelatingtoregulationsandbusinessgrowthwould behandledbytheCommissionerforInsurance,AlhajiMohammedKari.

Emirates Gets Additional Flights for Pilgrims

ANNUAL LECTURE

R-L: Chairman, Bi-Courtney Group, Dr. Wale Babalakin; Group CEO/Partner SouthBridge Group, Mr. Andrew Alli, and President/ Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Dr. Uche Olowu, during the 2019 CIBN annual lecture held in Lagos...recently PHOTO: ETOP UKUTT

Analysts Downbeat, Advise Investors to ‘Hold’ Brewery Stocks Goddy Egene Analysts at Cordros Capital Limited have advised investors in the brewery stocks to hold on to them saying brewers under their coverage have had an unimpressive start to 2019, as the brewery sector continues to be plagued by relatively weak economic growth, pressured consumer wallets, higher production levels and intense competition for market share.

In report made available to THISDAY, the analysts said brewery stocks have borne the brunt of the sell-offs in the equities market, with Nigerian Breweries Plc, Guinness Nigeria Plc and International Breweries Plc shedding about 30 per cent, 36 per cent, and 45 per

CAPITAL MARKET cent respectively, and with former two hitting record lows. “That said, we see limited upside for these stocks, with market prices barely in line with fair values. On expected 2019 numbers, we believe the brewers under our coverage will report flat-to-negative volume growth, with revenue growth below inflation, with higher operating costs leading to decline in earnings. Overall, we rate both brewers in our coverage, Nigerian Breweries and Guinness Nigeria as hold,� they said.

According to them, there is weak macro economic variables and struggling consumers,

noting that while economic growth is expected to gather some pace over the rest of the year, the impact will be negligible. “In particular, stronger private consumption, which should be buoyed by the minimum wage hike (+67 per cent to N30,000), should support demand ahead.

However, growth in demand is likely to remain lethargic due to upwardly sticky and still relatively high inflation, and with the framework for the implementation of the new minimum wage yet to be agreed upon, real wage growth is likely to move further into negative territory in the near term,� they said.

The analysts added that competition in the sector will

intensify leading to diminishing shareholder value.

According to them, International Breweries Plc is the disruption of the sector, specifically via growing presence in the economy beer segment.

The company’s $250 million greenfield Sagamu brewery was completed in first half of 2018, leading to double digit volume growth and continued market share gains. However, with total investment in the new brewery expected to increase to $400 million (according to AB InBev), we expect competition to intensify, thus affecting the profitability of the broader market negatively.

With International Breweries Plc keen on ranking top in terms of Continued on page 24

‘Lagos, 11 Others Yet to Publish 2019 Budget’ Solomon Elusoji Twelve of Nigerian state governments are yet to publish their 2019 budget, despite a $750 million incentive provided by the World Bank to encourage public finance transparency in Nigeria, a report by BudgIT research has shown.

An 8-month painstaking effort, the assessment of the availability of public finance documents in state government domains, according to a statement from the organisation, revealed that only 25 states’ approved budgets are available online, a few of which are sum-

ECONOMY marised scanned documents.

The 11 states Lagos, Cross River, Akwa Ibom, Bayelsa, Ebonyi, Imo, Nasarawa, Oyo, Rivers, Sokoto and Zamfara were yet to publish the details of their 2019 budget online, as of June 3rd, 2019, while Kwara State budget “went missing on its website immediately after the recent transition.� “This contravenes the ideals of openness and transparency in the management of public resources, which is the requisite guideline for the World Bank’s

State Fiscal Transparency, Accountability and Sustainability (SFTAS) programme, a product of mutual agreement between the financial institution and the federal government to strengthen fiscal transparency, accountability and sustainability in Nigerian states as a means to turbocharge their revenue base, increase fiscal efficiency in public expenditure while reducing debt overhangs. “The project, in which all the 36 state governments submitted written expressions of interest, commenced late 2018 after the endorsement by the National Economic Council in March.

It is shocking that any state would jettison the offer of a programme that was informed by serious fiscal challenges faced by states, the majority of which are still unable to pay workers’ salaries and pensions. “We must emphasise that Imo, Zamfara and Sokoto states have not published their budget documents since 2017, whereas Lagos State, which provides only a thumbnail of it, has a history of notoriously resisting attempts to uncover its financial dealings, thus embedding corruption,� the Continued on page 24

Emirateshasannouncedplanstooperateadditionalflightstohelpfacilitate travel for Nigerian pilgrims heading to and from the Kingdom of Saudi Arabiaforthisyear’sHajjpilgrimage.

The airline said it would be operating additional flights between July 27andAugust27,2019inordertosupporttheHajjjourneyofNigerian pilgrimstotheHolycityofMecca.

NigeriantravellerswithavalidHajjvisawouldenjoythetrip,whichruns alongwithEmirates’regularscheduledservicestoJeddahandMedina.

Theairlinesaidithascommissionedadedicatedteamtomanagecheck-in and transfers for the seamless movement of Hajj passengers leaving from and transiting in Dubai. Similarly, Emirates has planned several initiatives on-board that upholds the values and traditions of pilgrims whentravellingforHajj.

EmiratesRegionalManager,WestAfrica,AfzalParambilsaid,“Wewish ourNigerianMuslimfaithfulswhowouldbetravellingtoMeccaforHajj thisyear,aholypilgrimageandsafetrip. WeatEmiratesarecommitted toensuringacomfortabletrip.Emirateshasplannedseveralon-board initiativesthatupholdsthevaluesandtraditionsofpilgrims.Extraprovisions willbemadetoaccommodateHajjtraveller’sneedssuchasperforming ablutionsandothercleansingritualsaswellasadvisingpassengerswhen theyhaveenteredAlMiqatzonestoensurereadinessforIhram(thepoint when pilgrims enter a state of sanctity) through dedicated passenger announcements.Thisisinadditiontootherserviceandproductmeasures suchasprovidingextrablanketsandunperfumedhottowels�.

Zimbabwe Ends Decade of Dollarisation

Zimbabwe made its interim currency the country’s sole legal tender onMonday,endingadecadeofdollarisationandtakingaanotherstep towardsrelaunchingtheZimbabweandollar.

Thecentralbankalsohikeditsovernightlendingrateto50percentfrom 15 per cent as a part of a set of measures to protect the RTGS dollar introducedinFebruary. “The march towards full currency reform is part of our transitional stabilisation programme,� Reuters quoted Finance Minister Mthuli Ncube,tohavesaidinavideopostedonTwitter. “Thismoveisreallybeginningtorestorefullmonetarypolicy.�Zimbabwean PresidentEmmersonMnangagwa,whoreplacedlongtimeleaderRobert Mugabe after an army coup in November 2017, is trying to repair an economyruinedbyhyperinflationandalongsuccessionoffailedeconomic interventions.Butahoped-foreconomicturnaroundisyettomaterialise, andmanyZimbabweansaredistrustfulofMnangagwa’spromises.

Mnangagwa’s government last month agreed a staff-monitored programmewiththeInternationalMonetaryFund(IMF)wherebythefund willhelpZimbabweimplementcoherenteconomicpolicies.

Analysts are sceptical that the latest currency reforms will be a quick fix for the deep problems that have constrained economic growth in thesouthernAfricancountry.

“At the end of 2018, which was our first full year of operation we had done N31 billion in terms of loans provided for onlending to MSMEs. In terms of number of loans, we did over 35,000 in 2018, which was our full year operation. But I can assure you that the first quarter of this year we have done more than that, but usually we give our report annually�

MD/CEO, Development Bank of Nigeria,

Mr. Tony Okpanachi

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ANALYSTS DOWNBEAT, ADVISE INVESTORS TO ‘HOLD’ BREWERY STOCKS market share, with a target of 30 per cent by 2022, we expect beer prices in Nigeria are likely to remain unchanged over the next 6-12 months as the company ramps up capacity utilisation.

Nigerian Breweries Plc has been hit the hardest by AB InBev’s entry into the beer market, and we do not see the company overcoming competition soon. In the absence of any price increases, we expect Nigerian Breweries Plc’s net revenue to decline by 20.1 per cent in 2019FY. Higher marketing spend in a bid to boost volumes, are also expected to weigh on earnings, resulting in net profit decline of 19.1 per cent,� they said.

The Chief Executive Officer of the Nigerian Stock Exchange, Mr. Oscar Onyema, had advised investors to exploit the opportunities in the stock market and invest more.

‘LAGOS, 11 OTHERS YET TO PUBLISH 2019 BUDGET’ statement added.

Commenting on the research findings, BudgIT’s Principal Lead, Gabriel Okeowo, said, “This situation notwithstanding, BudgIT will not give in on its advocacy for transparency and accountability in Nigeria. We shall look more critically at the proactiveness in the disclosure of financial information by Nigerian states as well as their compliance with the Freedom of Information Act.�

According to him, it was commendable that many other states have released full budget documents to the public.

However, he stressed that those documents must always be published within a reasonable timeframe in an accessible format. This is pivotal in enabling citizens to engage legislators during budget debates. States with partially detailed budget documents – in public domains – must provide details of capital projects being executed for the fiscal year.

Group Business Editor

Obinna Chima

Capital Market Editor

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Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Finance) ĂŒĂ?ĂœĂ? åÙÔÓ (Insurance) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ Ě™(Energy) Reporters

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NIRSAL Targets 360,000 BeneďŹ ciaries in New Deal to Boost Agriculture James Emejo in Abuja The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has signed a Memorandum of Agreement and Action (MoA) with the Agro-Processing, Productivity Enhancement and Livelihood Improvement Support (APPEALS) – a $200 million World Bank funded Project, for the development, financing, and support of de-risked and optimised agribusiness projects.

In line with the project development objective of APPEALS, NIRSAL would layer its Tools, Techniques, Methodologies and Strategic Partnerships (TTMPs) according to its Mapping to Markets (M2M) strategy on the project.

The objective of the partnership is to enhance agricultural productivity of small and medium scale farmers and improvement of value addition along the cassava, cashew, rice, poultry, aquaculture, cocoa, wheat, tomato, maize, ginger and dairy value chains in a sustainable manner.

Speaking at the signing ceremony, Managing Director/ Chief Executive, NIRSAL, Mr. Aliyu Abdulhameed assured APPEALS that, in NIRSAL, they have found a trustworthy, reliable, and capable partner that shares the project’s development objective of enhancing the agricultural productivity of small and medium scale farmers and improving value addition along priority value chains in participating States.

He said NIRSAL will, “deploy its technologies towards the formation of Agro-Geo-Cooperatives for selected commodity value

chains through geospatial mapping, soil suitability tests, BVN enrolment for farmers in addition to the creation of Virtual Asset Titles (VAsT), establishment of field governance structures, and training of farmers on good agronomic practices, team dynamics and social engineering.�

NIRSAL would also link producers to relevant consumer, industrial and export markets through value chain roundtables, business deal facilitation meetings, and legally binding trade documentation.

He said the agency would

work with the state teams to structure agribusiness projects patterned after agreed sustainable models for APPEALS’ financing while deploying NIRSAL’s partnerships and models for technology demonstration and adoption.

Abdulhameed also noted that to protect primary producers under the project from losses due to pest, diseases, adverse weather conditions and general drops in expected yields, NIRSAL would deploy its Area Yield Index Insurance product.

According to him, to ensure business sustainability, NIRSAL

would extend its technical advice to the APPEALS project with a view to instilling business discipline, adoption of a mandatory savings culture and reinvestment of profits for sustainability and expansion in the beneficiaries.

According to a statement by the Head, Corporate Communications, NIRSAL, Anne Ihugba, the project, which is to be deployed in Cross River, Enugu, Lagos, Kogi, Kaduna, and Kano States, targets 60,000 beneficiaries, and 360,000 farm household members as indirect beneficiaries.

It was anticipated that 35 per cent of direct beneficiaries (or 21,000 individuals) would be women- as the project has a dedicated sub-component to benefit women and youth that would allow them develop agribusinesses that are expected to create jobs and improve their livelihoods.

However, the World Bank Task Team Leader of the APPEALS Project, Dr. Sheu Salau, commended NIRSAL for supporting the project with its technological knowhow, expertise, and depth of knowledge in agribusiness.

LEADERSHIP FORUM

L-R: Managing Partner, AT3 Resources Limited, Tosin Adefeko; Group Managing Director, SO&U Group, Udeme OnoďŹ ok Ufot; Founder, Ausso Leadership Academy (ALA), Austin Okere, and Commercial Director, Signal Alliance Limited, Theresa Adeyinka, at the Ausso Leadership Academy Masterclass which held in Lagos...recently

Insurance Operators Launch Fresh Campaign Ebere Nwoji Operators in the insurance industry have launched a nationwide marketing campaign tagged ‘Live With Freedom.’ The campaign aims at showcasing the advancement made in the insurance sector and to encourage more Nigerians to take up insurance.

The insurers, in launching the campaign, deployed educative and informative tools with a goal to redefine narratives about the sector in Nigeria and project insurance as indispensable and

desirable.

Addressing the media, the Chairman, Sub-Committee on Publicity and Communication, Insurers Committee, Mr Oye Hassan Odukale said two of the effective tools engaged were social media and blog posts.

Odukale, who is also Group Managing Director, Leadway Insurance, said the marketing campaign project made insurers publish several articles on the website and shared across various social media platforms since June, 2018.

According to him, these educa-

tive features were to showcase the benefits of insurance, easy ways to purchase insurance and the compulsory insurance policies recognised by law in Nigeria. “There are seven insurance policies mandated by law in Nigeria. The federal government has made it compulsory for every individual and corporate worker in the country to be protected by operating these policies, as applies to them. “The compulsory insurance policies include: Motor Third Party Insurance, Employee Group Life Insurance, Health

Care Professional Indemnity, Insurance of Public Buildings, Insurance of Buildings under Construction, Aviation Third Party Insurance, and Marine Insurance (Cargo)�, he stated.

He said the benefits of insurance cannot be over-emphasised, adding that it serves as an anchor for individuals and the economy.

According to him, for the individual, insurance helps to safeguard treasured interests from loss and uncertainty, giving him/ her the freedom to enjoy life to the benefits. He also noted that

insurance ensures reduced risk and provides succour during losses, thereby enabling businesses to thrive.

He added that insurance drives the key sectors of the economy. “Did you know that with N5,000 you can purchase an insurance policy? Insurance in Nigeria has become affordable and easy to access. The “you are insured� platform has made it easy for users to access any insurance company of choice, with a simple click on their mobile devices.�

USTDA, UOP to Develop Human Resources for Dangote Refinery Chris Uba The Dangote Oil Refining Company, the United States Trade and Development Agency (USTDA) and UOP, a division of Honeywell International, Incorporated have commenced a training programme for the development of critical human talents necessary to operate and maintain a petroleum refinery of the magnitude of Dangote Refinery.

The training, which kicked off at the Dangote Academy,

Ikeja, Lagos, involves intensive training of 50 Dangote company engineers. The training programme is designed to focus on refining processes and engineering, as well as on health, safety and environmental skills.

The Dangote Refinery would be a major step towards reducing dependence on imported fuels and petrochemicals in Nigeria.

When completed, the refinery, one of Africa’s largest industrial conglomerates, would create significant economies of scale

and support jobs creation in both Nigeria and the continent.

The Dangote Refinery had acquired technology and personnel from all over the world and collaborated with many international institutions. Incorporating technology from the US, Europe, Asia and Australia, the Dangote refinery is a global endeavour and demonstration of world-class project preparation, planning, collaboration and implementation of high-quality infrastructure.

UOP, a division of Hon-

eywell International, Inc., was awarded a contract to provide critical equipment, technology licensing, and design services. This includes several UOP-proprietary processes and packaged equipment.

The proprietary specialist equipment includes catalyst regeneration and dryer regeneration control systems, high-performance column trays, and heat exchanger tubes. The packaged equipment includes a modular CCR unit, catalyst coolers, a third-stage

separator system for the RFCC units (which upgrades heavy oil), and two pressure-swing adsorption units (PSA) to purify hydrogen.

Speaking at the kick-off of the training, Director Human Asset Management & Project support, DORC, Mohan Kumar, said the programme was very important for the refinery operation. “The training will enable the employees understand the refinery, how it works, the type of technology in the refinery and how it operates,� he said.

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Ihedioha Secures Afreximbank’s Support Amby Uneze in Owerri Imo State Government has been assured of the support and cooperation of the African Export-Import Bank (Afreximbank) towards revamping the economy of the state.

Also, Governor Emeka Ihedioha has assured the Bank of his determination to revamp the economy of the state.

The president of the Afreximbank, Prof. Benedict Oramah, disclosed this during a meeting between officials of Imo state government and the Bank held in Moscow, Russia.

The aim of the meeting was for the state government to pitch to the Bank, the development and investment opportunities in the state and the need for an increase in Internally Generated Revenue, through the boost of

Foreign Direct Investments (FDIs) and Public-Private Partnership.

Ihedioha, in his presentation, while noting the need for improved and structured financial facilities to support the process of repositioning the state, also highlighted key areas his administration intends to revamp.

He assured that the faith and confidence of the people in the government has been restored.

He pointed out the key sectors of the state includes agriculture, transportation (given the strategic location of the state, it possesses great potential for logistics and transportation through the air, land and waterways), electricity, Infrastructural rehabilitation and redevelopment will be the focal point for the rebuilding of the

state.

Also brought to fore were the viable and underutilised potential of the state’s resources such as the maritime and its positive exponential effect on the state’s financial if well structured.

The President of Afreximbank expressed satisfaction with the presentations and demonstrated keen interest in Imo State.

He reiterated that Afreximbank was willing to assist the new government of Imo State to attract FDIs, which would lead to growth in the state’s IGR and GDP. Furthermore, Oramah stated that the Bank currently has major key players in the maritime sector that would be willing to invest in the commercialisation of Imo State waterways.

NEM Insurance CEO Becomes AIO Vice President Ebere Nwoji The African Insurance Organisation (AIO), has appointed the Chairman of Nigeria Insurers Association (NIA) and Managing Director, NEM Insurance Plc, Mr Tope Smart, as the Vice President of the organisation.

The appointment, took place at the just concluded AIO conference which held in Johannesburg, South Africa.

Smart, took over from Mrs. Delphine TraorĂŠ, Regional Chief Operating Officer Allianz Africa who was appointed AIO President at the end of the Assembly.

This is coming on the heels of Nigeria’s acceptance to host the conference next year.

In his acceptance speech, Smart assured members of the

AIO of an effective and efficient work relationship.

He disclosed that the hosting

by Nigeria has the full backing of the federal government.

Smart, who is currently the Chairman of the Nigeria Insurers Association(NIA) started his insurance career at Everyman Insurance Brokers, Abuja where he did his NYSC. He was involved in the overall operations of the branch office. He contributed in no small measure to the rapid growth of the Company. After the NYSC, he was rewarded with a permanent employment as a Branch Manager with the same firm. He however left Abuja to join Nigerian-French Insurance Company Limited as one of the pioneer staff in 1989.

In 1991, Smart completed his

professional examination with the award of CII London where he equally won the prize for Distinction in Property and Pecuniary Insurance.

He served Nigerian French in various capacities and became an outstanding staff in the company. He was rewarded with a double promotion and was made to head the Marine Unit of the company, a position he held till he left the company.

In 1991 he left Nigerian French and joined hands with two other people to pioneer Perpetual Assurance Company Limited as Assistant Controller. In this position, he was responsible for the development of the Technical and Marketing policies of the company, a task he performed beyond the expectation of the Board.

Recapitalisation: Shareholders Ask Regency Alliance to Retain Dividend Ebere Nwoji Shareholders of Regency Alliance Plc, have urged the management of the company, to retain the dividend for the 2018 financial year, in order to support the company’s move to raise additional capital.

They made the recommendation during the company’s 25th Annual General Meeting in Lagos. The Chairman of the company, Amb Baba Gana Kingibe, had announced a dividend pay-out of N200 million for the financial year under review.

He explained: “But the shareholders suggested that the dividends should be ploughed back into the business in lieu of pending recapitalisation.�

The company’s gross premium rose by 1.30 per cent from N3.368 billion in 2017, to N3.408 billion in 2018.

The effect of increased premium generation, he added, was

however significantly eroded by the 24.30 per cent increase in net claims, 8.93 per cent increase in underwriting expenses and 3.94 per cent increase in management expenses when comparing the 2018 figures with that of 2017.

He said there was an increase of 24.37 per cent in the investment income of the company, which was reflective of the high deposit rates and government yield rates offered during the year.

The chairman disclosed that there was an increase of 6.68 per cent in profit after tax, from N196.475 million in 2017 to N209.599 million in 2018. “It is expected that our company, building on the gains of past financial discipline and strategic positioning, will continue to produce better results in the future,� he said.

The chairman said the total asset base of the company grew by 6.48 per cent from 7.345 billion in 2017 to N7.821 billion

in 2018. “This was due primarily to the effect of the foreign exchange translation loss arising from consolidating RegencyNem Insurance Limited Ghana’s account. “Total assets for our group and our company as at December 31st, 2018 stood at N9.853 billion and N7.821 billion respectively,� he said.

The chairman said the company’s expansion into retail insurance was being pursued with renewed vigour.

According to him, the company intends to increase its market penetration through the deployment of an e-commerce platform on its website.

After presenting the 2018 performance of the company, Kingibe announced his departure from the board. He expressed his gratitude to the board, management, staff and shareholders for their support in the last nine years.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Finding Your Niche Market Many of us struggle to find our niche.

This can be in determining what our careers should be or what type of ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă? ĂĄĂ? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ÎÙ˛ Ă•Ă˜Ă™ĂĄ ĂšĂ?ÙÚÖĂ? who have tried everything. The owner Ă™Ă? Ă‹ ÚÙÚĂ&#x;Ă–Ă‹Ăœ Ă?Ă?ÒÙÙÖ Ă“Ă˜ Ă‹Ă‘Ă™Ă?Ëœ Ă˜Ă‹Ă—Ă? withheld explored many businesses before she finally settled on a school. Ăž Ă?Ă“ĂœĂ?ĂžËœ Ă?Ă’Ă? Ă?ÙÖÎ åÙ×Ă?Ă˜ËŞĂ? Ă?ÖÙÞÒĂ?Ă?Ëœ the usual buying and selling that many åÙ×Ă?Ă˜ Ă‘Ă™ Ă“Ă˜ĂžĂ™Ë› Ă’Ă? ÞÒĂ?Ă˜ Ă?Ă?Ăž Ă&#x;Ăš Ă‹ ĂœĂ?Ă?ÞËĂ&#x;ĂœĂ‹Ă˜ĂžË› Ă‹Ă— Ă?Ă&#x;ĂœĂ? Ă’Ă?Ăœ ĂžĂ’Ă“Ă˜Ă•Ă“Ă˜Ă‘ was - women will always buy clothes so it will be lucrative and for the ĂœĂ?Ă?ÞËĂ&#x;ĂœĂ‹Ă˜ĂžËœ ĂšĂ?ÙÚÖĂ? ĂĄĂ“Ă–Ă– Ă‹Ă–ĂĄĂ‹ĂŁĂ? Ă?ËÞ˛ Ă&#x;Ăž Ă?Ă™Ăœ Ă’Ă?ĂœËœ ÞÒĂ?Ă?Ă? ÞåÙ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ă?Ă? ĂĄĂ?ĂœĂ? Ă˜Ă™Ăž Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ë› Ă’Ă? ÞÒĂ?Ă˜ Ă?ĂžĂ‹ĂœĂžĂ?ĂŽ a crèche in her house. This crèche Ă—Ă™ĂœĂšĂ’Ă?ĂŽ Ă“Ă˜ĂžĂ™ Ă‹ Ă˜Ă&#x;ĂœĂ?Ă?ĂœĂŁ Ă?Ă?Ă’Ă™Ă™Ă–Ëœ Ă‹ primary school and a secondary Ă?Ă?ÒÙÙÖ˛ Ă’Ă? Ă’Ă‹Ă? Ă?Ă“Ă˜Ă?Ă? ĂŒĂ?Ă?Ă˜ Ă‹ĂŒĂ–Ă? to replicate this school in different Ă–Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? Ă“Ă˜ Ă‹Ă‘Ă™Ă?Ë› Ă’Ă?Ă‹ĂœĂŽ Ă‹ Ă?Ă?ĂĄ ĂŽĂ‹ĂŁĂ? Ă‹Ă‘Ă™Ëœ ÞÒËÞ Ă?Ă’Ă? Ă’Ă‹Ă? ÙÚĂ?Ă˜Ă?ĂŽ Ă‹ ĂŒĂœĂ‹Ă˜Ă?Ă’ Ă“Ă˜ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ ĂšĂ‹ĂœĂž Ă™Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ë› Ă’Ă? Ă?Ă–Ă?Ă‹ĂœĂ–ĂŁ Ă?Ă™Ă&#x;Ă˜ĂŽ Ă’Ă?Ăœ Ă˜Ă“Ă?Ă’Ă?Ëœ Ă“Ă˜ Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă—Ă™Ă˜Ă?ĂŁ Ă‹Ă˜ĂŽ ĂŽĂ™Ă“Ă˜Ă‘ ĂĄĂ’Ă‹Ăž Ă?Ù×Ă?Ă? naturally to her. Many of us go into businesses we do not have a natural affinity for and start to struggle. Ă’Ă“Ă? Ă–Ă‹ĂŽĂŁ Ă?ĂœĂ“Ă?Ă˜ĂŽ Ă™Ă? Ă—Ă“Ă˜Ă? Ă‹ĂŒĂ™Ă Ă?Ëœ Ă?Ă™Ă&#x;Ă–ĂŽ Ă˜Ă™Ăž Ă—Ă‹Ă•Ă? Ă‹Ă˜ĂŁ Ă’Ă?Ă‹ĂŽĂĄĂ‹ĂŁ ĂŒĂ&#x;ĂŁĂ“Ă˜Ă‘ Ă‹Ă˜ĂŽ selling while many friends of mine Ă?Ă‹Ă˜ Ă?Ă?Ă–Ă– Ă?Ă˜Ă™ĂĄ ÞÙ Ă‹Ă˜ Ă?Ă?Ă•Ă“Ă—Ă™Ëœ ĂĄĂ’Ă“Ă–Ă? Ă•Ă?Ă?ĂšĂ“Ă˜Ă‘ ĂŽĂ™ĂĄĂ˜ Ă‹ ĂŽĂ?Ă—Ă‹Ă˜ĂŽĂ“Ă˜Ă‘ Ă?Ă&#x;Ă–Ă– ÞÓ×Ă? job.

Ăž Ă“Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ Ă˜Ă™ĂžĂ? ÞÒËÞ Ă“Ă? ÞÒĂ? Ă˜Ă?âÞ ĂšĂ?ĂœĂ?Ă™Ă˜ Ă“Ă? ĂŽĂ™Ă“Ă˜Ă‘ Ă“ĂžËœ Ă“Ăž ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž mean we can do it too! Many businessmen and women have discovered that it is not easy to just copy the next man but to carefully consider your niche.

There is no doubt that one of the clearest ways to success is finding a Ă˜Ă“Ă?Ă’Ă? Ă—Ă‹ĂœĂ•Ă?Ăž Ă‹Ă˜ĂŽ Ă?Ă?ĂžĂ‹ĂŒĂ–Ă“Ă?Ă’Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x;ĂœĂ?Ă?Ă–Ă? as a dominant player. This is because no matter how many businesses there Ă‹ĂœĂ?Ëœ ÞÒĂ?ĂœĂ? Ă‹ĂœĂ? Ă‹Ă–ĂĄĂ‹ĂŁĂ? Ă‘Ă™Ă“Ă˜Ă‘ ÞÙ ĂŒĂ? larger segments of the population whose needs for particular products Ă‹Ă˜ĂŽËšĂ™Ăœ Ă?Ă?ĂœĂ Ă“Ă?Ă?Ă? Ă‹ĂœĂ? Ă‘Ă™Ă“Ă˜Ă‘ Ă&#x;Ă˜Ă—Ă?ĂžËœ leaving room for us to dominate ÞÒĂ? Ă—Ă‹ĂœĂ•Ă?ĂžĂ? ĂĄĂ? ĂŽĂ?Ă?Ă“ĂŽĂ? Ă™Ă˜Ë› Ùå Ă?Ă‹Ă˜ ĂŁĂ™Ă&#x; Ă?Ă“Ă˜ĂŽ ĂŁĂ™Ă&#x;Ăœ Ă˜Ă“Ă?Ă’Ă? Ă—Ă‹ĂœĂ•Ă?ĂžË? Ëž Ă“ĂœĂ?Ăž Ă‹Ă˜ĂŽ Ă?Ă™ĂœĂ?Ă—Ă™Ă?ĂžËœ Ă“ĂŽĂ?Ă˜ĂžĂ“Ă?ĂŁ ĂŁĂ™Ă&#x;Ăœ interests and passion. Business can ĂŒĂ? Ă Ă?ĂœĂŁ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘Ëœ ÞÒĂ?ĂœĂ? Ă“Ă? Ă‹ Ă’Ă“Ă‘Ă’Ă?Ăœ Ă–Ă“Ă•Ă?ÖÓÒÙÙÎ Ă™Ă? ĂŁĂ™Ă&#x; Ă›Ă&#x;Ă“ĂžĂžĂ“Ă˜Ă‘Ëœ Ă“Ă? ĂŁĂ™Ă&#x; Ă‹ĂœĂ? not doing something you enjoy doing.

Ă‹Ă— Ă˜Ă™Ăž Ă?Ă‹ĂŁĂ“Ă˜Ă‘ ÞÒËÞ Ă“Ăž Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‹ ĂšĂ?ĂœĂ?Ă?Ă?Ăž Ă?ÓÞ˛ Ă’Ă? ĂžĂ’Ă“Ă˜Ă‘ Ă“Ă?Ëœ Ă“Ă? ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă˜Ă™Ăž ĂŽĂ™Ă“Ă˜Ă‘ Ă?Ù×Ă?ĂžĂ’Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x; Ă?Ă˜Ă”Ă™ĂŁ ĂŽĂ™Ă“Ă˜Ă‘Ëœ ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă˜Ă™Ăž Ă–Ă“Ă•Ă?Ă–ĂŁ ÞÙ Ă?Ă&#x;Ă?Ă?Ă?Ă?ĂŽ Ă“Ă˜ ÞÒĂ? Ă–Ă™Ă˜Ă‘ ĂœĂ&#x;Ă˜Ë› Ăž Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă?Ù×Ă?ĂžĂ’Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? Ă‹ ÚËĂ?Ă?Ă“Ă™Ă˜ Ă?Ă™ĂœËœ Ă˜Ă™Ăž ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? everybody is doing it and people are saying this is the “business for the seasonâ€?.

Ă? ĂŁĂ™Ă&#x; Ă‹ĂœĂ? ĂŽĂ™Ă“Ă˜Ă‘ Ă?Ù×Ă?ĂžĂ’Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x; ĂŽĂ™ Ă˜Ă™Ăž Ă’Ă‹Ă Ă? Ă‹ ÚËĂ?Ă?Ă“Ă™Ă˜ Ă?Ă™ĂœËœ ĂŁĂ™Ă&#x; Ă—Ă‹ĂŁ Ă˜Ă™Ăž Ă’Ă‹Ă Ă? ÞÒĂ? ĂŽĂœĂ“Ă Ă? ÞÙ Ă—Ă‹Ă•Ă? Ă“Ăž Ă?Ă&#x;Ă?Ă?Ă?Ă?ĂŽË› Ă™Ăœ Ă?âË×ÚÖĂ?Ëœ Ă—Ă‹ĂŁ Ă˜Ă™Ăž Ă?Ă&#x;Ă?Ă?Ă?Ă?ĂŽ Ă“Ă?

set up a school for young children. Ă™ ×ËÞÞĂ?Ăœ ÒÙå ĂšĂœĂ™Ă?Ă“ĂžĂ‹ĂŒĂ–Ă? Ă“Ăž ĂĄĂ“Ă–Ă– ĂŒĂ?Ëœ Ă“Ăž Ă“Ă? Ă&#x;Ă˜Ă–Ă“Ă•Ă?Ă–ĂŁ ÞÙ ĂĄĂ™ĂœĂ• Ă?Ă™Ăœ Ă—Ă? ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă?

ĂšĂœĂ?Ă?Ă?Ăœ ÞÙ ĂžĂ?Ă‹Ă?Ă’ Ă‹ĂŽĂ&#x;Ă–ĂžĂ? Ă‹Ă˜ĂŽ Ă˜Ă™Ăž Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜Ë› Ă? Ă“Ăž Ă“Ă? Ă‹ Ă Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă?Ă?ÒÙÙÖ to empower women and teach sales Ă‹Ă˜ĂŽ Ă—Ă‹ĂœĂ•Ă?ĂžĂ“Ă˜Ă‘Ëœ ĂĄĂ“Ă–Ă– ĂŒĂ? ÚËĂ?Ă?Ă“Ă™Ă˜Ă‹ĂžĂ? about and it and have the passion and drive to execute it as it is one Ă™Ă? Ă—ĂŁ Ă–Ă“Ă?Ă?ËŞĂ? Ă‹Ă—ĂŒĂ“ĂžĂ“Ă™Ă˜Ă?Ë› Ëž Ă?ĂžĂ?Ăœ ĂŁĂ™Ă&#x; Ă’Ă‹Ă Ă? ĂŽĂ?ĂžĂ?ĂœĂ—Ă“Ă˜Ă?ĂŽ that you have passion for your

Ă˜Ă“Ă?Ă’Ă? Ă—Ă‹ĂœĂ•Ă?ĂžËœ Ă—Ă‹Ă•Ă? Ă?Ă&#x;ĂœĂ? ÞÒĂ?ĂœĂ? Ă‹ĂœĂ? Ă?Ă˜Ă™Ă&#x;Ă‘Ă’ ĂšĂ?ÙÚÖĂ? Ă“Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă˜Ă“Ă?Ă’Ă? Ă—Ă‹ĂœĂ•Ă?Ăž ÞÙ ĂšĂ‹ĂžĂœĂ™Ă˜Ă“Ă¤Ă? ĂŁĂ™Ă&#x;Ăœ ĂšĂœĂ™ĂŽĂ&#x;Ă?ĂžĂ?Ë› Ă™Ă&#x; Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă?Ă™Ăœ Ă?âË×ÚÖĂ?Ëœ Ă?ĂžĂ‹ĂœĂž ÞÙ ÚËĂ?Ă•Ă‹Ă‘Ă? Ă?Ă&#x;ĂœĂ‹ ̙ÒËĂ&#x;Ă?Ă‹ ĂŽĂœĂ“Ă˜Ă•Ěš Ă“Ă˜ Ă‹Ă‘Ă™Ă? Ă‹Ă˜ĂŽ Ă?âÚĂ?Ă?Ăž ÞÙ Ă—Ă‹Ă•Ă? Ă‹Ă? Ă—Ă&#x;Ă?Ă’ Ă—Ă™Ă˜Ă?ĂŁ Ă‹Ă? ĂŁĂ™Ă&#x; ĂĄĂ™Ă&#x;Ă–ĂŽ Ă—Ă‹Ă•Ă? Ă“Ă˜ Ă‹ĂŽĂ&#x;Ă˜Ă‹ Ă™Ăœ Ă‹Ă˜Ă™Ë› Ă™Ă&#x; Ă˜Ă?Ă?ĂŽ ÞÙ decide that whatever products you ĂŽĂ?Ă?Ă“ĂŽĂ? Ă™Ă˜ ĂĄĂ“Ă–Ă– Ă’Ă‹Ă Ă? Ă‹ ĂœĂ?Ă‹ĂŽĂŁ Ă—Ă‹ĂœĂ•Ă?Þ˛ Ëž Ă˜ Ă? Ă&#x; Ăœ Ă? Ăž Ă’ Ă? Ăœ Ă? Ă‹ Ăœ Ă? Ă˜ ËŞ Ăž Ăž Ă™ Ă™ Ă— Ă‹ Ă˜ ĂŁ Ăš Ă– Ă‹ ĂŁĂ? Ăœ Ă? Ă“ Ă˜ ĂŁĂ™ Ă&#x; Ăœ Ă˜ Ă“ Ă? Ă’ Ă? Ă— Ă‹ Ăœ Ă•Ă? Ăž Ë› ĂŁ observation is that once we notice Ă™ Ăœ Ă? Ă? Ă? Ă‹ ĂŒ Ă&#x; Ă? Ă“ Ă˜ Ă? Ă? Ă? Ă— Ă‹ Ă•Ă“ Ă˜ Ă‘ Ă— Ă™ Ă˜ Ă?ĂŁ Ă“ Ă˜ Ă‹ Ăš Ă‹ Ăœ Ăž Ă“ Ă? Ă&#x; Ă– Ă‹ Ăœ Ă‹ Ăœ Ă? Ă‹ Ëœ ĂĄĂ? Ă‹ Ă– Ă– Ă” Ă&#x; Ă— Ăš in and start to do the same thing.

Ă™ ĂŒ Ă? Ă? Ăœ Ă Ă? ĂŽ Ăž Ă’ Ă“ Ă? Ă? Ă“ Ăž Ă&#x; Ă‹ Ăž Ă“ Ă™ Ă˜ ĂĄ Ă’ Ă? Ă˜ ĂĄĂ‹ Ăž Ă? Ăœ Ă“ Ă˜ Ă? Ă‹ Ăž Ă? Ă’ Ă? Ăž Ă? Ě™ Ăš Ă&#x; Ăœ Ă? ĂĄĂ‹ Ăž Ă? Ăœ Ěš Ă? Ă“ Ăœ Ă? Ăž Ă? Ă‹ Ă— Ă? Ă“ Ă˜ Ăž Ă™ Ăž Ă’ Ă? Ă— Ă‹ Ăœ Ă•Ă? Ăž Ë› Ă’ Ă? manufacturers were happy and felt Ă“Ăž ĂĄĂ‹Ă? ĂšĂœĂ™Ă?Ă“ĂžĂ‹ĂŒĂ–Ă?Ë› Ùå Ă?Ă Ă?ĂœĂŁĂŒĂ™ĂŽĂŁ has gone into the business and t h ey a r e a l l c o m p l a i n i n g b e c a u s e too many people are in the same business crowding each other out w i t h ve r y l i t t l e d i f fe r e n t i a t i o n . Ëž Ăž Ă“Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ Ă?Ă“Ă˜ĂŽ Ă™Ă&#x;Ăž Ă‹ĂŒĂ™Ă&#x;Ăž competition to see if a new business Ă“Ă˜ ÞÒÓĂ? Ă˜Ă“Ă?Ă’Ă? ĂĄĂ“Ă–Ă– ĂŒĂ? Ă Ă“Ă‹ĂŒĂ–Ă?Ë› ĂžĂ&#x;ĂŽĂŁ ĂŁĂ™Ă&#x;Ăœ Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜Ë› Ăž Ă“Ă? Ă˜Ă™ĂžĂ?ĂĄĂ™ĂœĂžĂ’ĂŁ ÞÙ understand it is sometimes good to Ă’Ă‹Ă Ă? Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜Ëœ ËÖÞÒÙĂ&#x;Ă‘Ă’ Ă?Ù×Ă? ĂĄĂ“Ă–Ă– Ă?Ă?Ă? Ă“Ăž Ă‹Ă? Ă‹ ĂšĂœĂ™ĂŒĂ–Ă?Ă—Ë› Ă’Ă?Ă˜ ĂĄĂ? Ă’Ă‹Ă Ă? Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜Ëœ Ă“Ăž Ă’Ă?Ă–ĂšĂ? Ă&#x;Ă? ĂŽĂ?ĂžĂ?ĂœĂ—Ă“Ă˜Ă? that we have found a profitable niche. Ă’Ă‹Ăž ĂĄĂ“Ă–Ă– ÞÒĂ?Ă˜ Ă˜Ă?Ă?ĂŽ ÞÙ ĂĄĂ™ĂœĂ• Ă™Ă˜Ëœ Ă“Ă? how to differentiate ourselves to ĂšĂ&#x;Ăž Ă&#x;Ă? Ă™Ă˜ ÞÙÚ Ă™Ă? ÞÒĂ? ÚËĂ?Ă•Ë› Ëž Ă‹Ă•Ă? Ă?Ă&#x;ĂœĂ? ÞÒĂ? ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă? Ă“Ă? profitable. Browse top products in the area you are deciding on to determine whether there is demand Ă?Ă™Ăœ ÞÒĂ? ĂšĂœĂ™ĂŽĂ&#x;Ă?Ăž Ă™Ăœ Ă?Ă?ĂœĂ Ă“Ă?Ă?Ë› Ă? ÞÒĂ?ĂœĂ? Ă‹ĂœĂ? Ă˜Ă™ Ă™Ă?Ă?Ă?ĂœĂ? Ă™Ăœ ĂŽĂ?Ă—Ă‹Ă˜ĂŽËœ Ă“Ăž Ă—Ă‹ĂŁ Ă˜Ă™Ăž ĂŒĂ? Ă‹ ÑÙÙÎ Ă?Ă“Ă‘Ă˜Ë› Ăž Ă—Ă‹ĂŁ Ă—Ă?Ă‹Ă˜ ÞÒËÞ nobody has been able to monetize ÞÒĂ? Ă“ĂŽĂ?Ă‹Ë› Ă™Ă&#x; Ă—Ă‹ĂŁ ĂĄĂ‹Ă˜Ăž ÞÙ Ă?ĂšĂ?Ă˜ĂŽ some more time researching your service or product. Ëž Ă‹Ă Ă? Ă‹ ĂĄĂ?Ă–Ă–Ě‹ĂŽĂ?Ă?Ă“Ă˜Ă?ĂŽ Ă“Ă˜ĂžĂ?ĂœĂ˜Ă?Ăž Ă—Ă‹ĂœĂ•Ă?ĂžĂ“Ă˜Ă‘ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘ĂŁ Ă“Ă˜ ĂŽĂ?ĂžĂ?ĂœĂ—Ă“Ă˜Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x;Ăœ Ă˜Ă“Ă?Ă’Ă? Ă—Ă‹ĂœĂ•Ă?Þ˛ Ă™Ă&#x;Ăœ ĂĄĂ?ĂŒĂ?Ă“ĂžĂ? must be optimized to ensure that ĂŁĂ™Ă&#x;Ăœ Ă˜Ă“Ă?Ă’Ă? Ă—Ă‹ĂœĂ•Ă?Ăž Ă?Ă‹Ă˜ Ă?Ă‹Ă?Ă“Ă–ĂŁ Ă?Ă“Ă˜ĂŽ ĂŁĂ™Ă&#x;Ë› Ă?Ă Ă?ÖÙÚ ĂŁĂ™Ă&#x;Ăœ Ă?Ă“ĂžĂ? Ă“Ă˜ Ă‹ ĂĄĂ‹ĂŁ ÞÒËÞ ÞÒĂ? solutions and products you offer are specific to the problems in your niche Ă—Ă‹ĂœĂ•Ă?Þ˛ Ă?Ă? Ă?Ă™Ă?Ă“Ă‹Ă– Ă—Ă?ĂŽĂ“Ă‹ Ă?Ă“ĂžĂ?Ă? ÞÙ advertise and boost your offerings by specifying the advertising criteria ÞÒËÞ Ă?Ă&#x;Ă“ĂžĂ? ĂŁĂ™Ă&#x;Ăœ Ă—Ă‹ĂœĂ•Ă?Þ˛

Ăž Ă“Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ Ă?Ă“Ă˜ĂŽ Ă‹Ă˜ĂŽ ĂŽĂ?ĂžĂ?Ăœmine your niche because it gives you competitive advantage over the next business especially if you Ă’Ă‹Ă Ă? ĂŽĂ™Ă˜Ă? ĂŁĂ™Ă&#x;Ăœ ÒÙ×Ă?ĂĄĂ™ĂœĂ• ĂĄĂ?Ă–Ă–Ë› Ă? should try not to be in the same Ă—Ă‹ĂœĂ•Ă?Ăž Ă‹Ă˜ĂŽ Ă“Ă? ĂĄĂ? Ă‹ĂœĂ?Ëœ Ă™Ă&#x;ĂœĂ? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ have a twist. The fact that someone else is in a particular business does Ă˜Ă™Ăž Ă—Ă?Ă‹Ă˜ Ă“Ăž ĂĄĂ“Ă–Ă– ĂĄĂ™ĂœĂ• Ă?Ă™Ăœ Ă&#x;Ă?Ë› Ă? need to discover our passion and find the “sweet spotâ€? that is ours ÞÙ Ă™ĂĄĂ˜Ë› ĂšĂ?Ă˜ĂŽ Ă?Ù×Ă? ÞÓ×Ă? Ă‹Ă?Ă•Ă“Ă˜Ă‘ ĂŁĂ™Ă&#x;ĂœĂ?Ă?Ă–Ă? ÞÒĂ?Ă?Ă? Ă›Ă&#x;Ă?Ă?ĂžĂ“Ă™Ă˜Ă? ĂŒĂ?Ă?Ă™ĂœĂ? ĂŁĂ™Ă&#x; Ă?Ă—ĂŒĂ‹ĂœĂ• Ă™Ă˜ Ă‹ Ă˜Ă?ĂĄ ĂšĂœĂ™Ă”Ă?Ă?ĂžË? Ëž Ùå Ă?Ă‹Ă˜ ĂŽĂ“Ă?Ă?Ă?ĂœĂ?Ă˜ĂžĂ“Ă‹ĂžĂ? Ă—ĂŁĂ?Ă?Ă–Ă? from competition? Ëž Ă’Ă‹Ăž Ă‹ĂœĂ? ÞÒĂ? ËŤĂ˜Ă?ĂĄ ĂžĂ’Ă“Ă˜Ă‘Ă?ËŹ ÞÒËÞ

Ă?Ă‹Ă˜ ĂŒĂœĂ“Ă˜Ă‘ Ă“Ă˜ĂžĂ™ ÞÒĂ? Ă—Ă‹ĂœĂ•Ă?Þˣ Ëž Ă’Ă‹Ăž ĂĄĂ“Ă–Ă– ĂŒĂ? ĂŽĂ“Ă?Ă?Ă?ĂœĂ?Ă˜Ăž Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ? ĂšĂœĂ™ĂŽĂ&#x;Ă?ĂžĂ? Ă‹Ă˜ĂŽ Ă?Ă?ĂœĂ Ă“Ă?Ă?Ă? ĂĄĂ“Ă–Ă– Ă™Ă?Ă?Ă?ĂœËŁ Ă˜Ă?ĂĄĂ?ĂœĂ? ÞÙ ÞÒĂ? ĂŒĂ&#x;Ă–Ă–Ă?ĂžĂ? Ă‹Ă˜ĂŽ ÞÒĂ? Ă?Ă™Ă˜Ă?Ă“ĂŽĂ?ĂœĂ‹ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒĂ? ĂšĂ™Ă“Ă˜ĂžĂ? Ă‹ĂŒĂ™Ă Ă?Ëœ ĂĄĂ“Ă–Ă– ÞËÕĂ? ĂŁĂ™Ă&#x;Ăœ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă? ÞÙ ÞÒĂ? Ă˜Ă?âÞ Ă–Ă?Ă Ă?Ă–Ë› ÙÙÎ Ă–Ă&#x;Ă?Ă•Ë

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Task Before SEC Board Stakeholders in the capital market have pointed out what the new board of the Securities and Exchange Commission should do to restore confidence in the market, writes Goddy Egene

S

taff and management of the Securities and Exchange Commission (SEC), operators and investors in the nation’s capital market heaved a sigh of relief on Monday, when the federal government eventually inaugurated a board for the market regulator.

The board, which is headed by a lawyer and, former company secretary of United Bank for Africa Plc (UBA), Mr. Olufemi Lijadu, came in over four years after the last board of commission was sacked by President Muhammadu Buhari.

While Lijadu, who is from Ogun State would be the chairman, other non-executive commissioners are: Mr. Lamido Yuguda from Gombe State, Mrs Rekiya Ladi (Kaduna), Mr. Okokon Ekanem, representing the Ministry of Finance, and Dr. Alvan Ikoku, representing the Central Bank of Nigeria.

The acting Director-General, SEC, Ms Mary Uduk; Acting Executive Commissioner, Corporate Service, Mr. Henry Rowlands, other members of the board from SEC are Acting Executive Commissioner (Operations), Mr. Isyaku Tilde, and acting Executive Commissioner (Legal and Enforcement), Mr. Reginald Karawusa, are also members of the board.

The constitution of the board came after persisted calls by market stakeholders.

The Permanent Secretary, Federal Ministry of Finance, Mahmoud Isa-Dutse, who is also overseeing the office of the Minister of Finance inaugurated the board.

Speaking at the inauguration ceremony, Isa-Dutse said the inauguration of the SEC board came at a time when many players in the market were displaying weak corporate governance practices that could potentially dampen investor confidence and undermine the steady gains achieved since the 2008 stock market crash.

He, therefore urged the board members to play their own part as crucial enablers in the industry towards advancing a common vision for the growth and revitalisation of the market.

He added that Nigerian capital market was still growing and evolving, noting that to sustain its growth and eventually transform to a world class capital market, transparency and investor confidence were desirable.

He said like world markets across the globe, the Nigerian capital market should be characterised by high levels of liquidity, depth, breath and sophistication with a strong domestic investor base.

He added: “It should be innovative, transparent due to robust investor base.

It should be innovative, transparent due to robust disclosure regimes, and efficient both in price discovery and in the allocation of capital. “We must have it in mind that worldclass capital markets do far more than provide access to capital. They are enablers of socio-economic development because they hasten the rate of capital formation, foster a meritocracy and promote good corporate governance, innovation and entrepreneurship. “Thus, our capital market should broaden access to economic prosperity by enabling the emergence of financially responsible citizens, accelerating wealth creation and wealth distribution, providing capital to small and medium scale enterprises (SMEs), and catalysing housing finance.� “The administration of President Muhammadu Buhari is committed to transparency and accountability in corporate governance.

To this end, I must emphasise that the role of governing board is to provide effective oversight and strategic adversary to management team. “I would therefore like to advise all concerned to study and strictly adhere to laid down laws that have clearly defined the roles and responsibilities of the board members� he added.

Responding, Lijadu emphasised that capital markets are very important in

Lijadu

Uduk

the socio-economic development of any nation as it plays a critical role in attracting investments. “As we all join hands together to build our country, we need investments and the capital market plays a critical role in that respect. We need to see how we can move forward to have a more orderly market, a market that is fair and transparent and can attract investments to build Nigeria.

We need a market that is attractive to investors, both local and foreign “We need a capital market where the rules are enforced and where the public who invests are all protected. We need to re-inforce the public trust. I therefore enjoin everyone to help us towards building a capital market that this country deserves�.

Also speaking, Uduk expressed delight at the inauguration of the board which she said would assist in moving the capital market forward. She welcomed the new members and expressed optimism that they would bring their wealth of experience to bear in the running of the commission and the market.

“For any decision to be taken, the ministry, which is already saddled with the running of the economy, and over-burdened with such, what time will it have to attend to the commission. Though the ministry supervises the commission, what capacity with specific reference to capital market that the ministry to be able to give a guided advice to the commission,� he added.

Also, the Chairman of Ibadan Zone Shareholders Association of Nigeria (IZSAN), Mr. Eric Akinduro, had said constituting a board for SEC would enhance confidence in the market. “The market is very sensitive. Anything that is not positive can easily drag the market down. Therefore, the best thing for the government is to take proactive step by ensuring that the board is constituted so that the growth the market is recording now can be sustained,� Akinduro said.

Similarly, the National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr. Adeniyi Adebisi had said people bearing the brunt of what was happening in SEC were the shareholders. “The government should constitute board so that things can move in the right direction,� he Adebisi said.

Agitation by stakeholders Before now, the Chairman, Association of Securities Dealing of Houses of Nigeria (ASHON), Chief Patrick Ezeagu, had stressed the importance of a board for SEC. “SEC, which is regulating a market of several trillions of naira should have a board to enable a smooth running. It is disheartening to know that most of the laudable projects espoused in the master plan are being affected by lack of a board, which is statutorily mandated to take some major decisions in that direction. “Apart from not having a board, the DG and the commissioners are all in acting capacities. This does not send good signals to investors out there. Appointing a board for the commission and confirming the officers would significantly boost investor confidence, thereby restoring some level of stability to the market,� Ezeagu had said.

Speaking on why SEC urgently needed a board urgently, a senior market operator and lawyer had said the commission could not be an arbiter over corporate governance of listed companies whereas it does not have a board.

According to him, “can you give what you do not have it. You cannot be superintending over what you do not have.�

He added that SEC is signatory ‘A’ member of International Organisation of Securities Commissions (IOSCO), explaining that being a signatory ‘A’ member requires that the commission should have an institution in place and the head of that institution is the board. “In terms of market dynamics, information is key and the timeliness of information is pivotal. For information, which is key and timely you must have a board that quickly take decisions because as it is today, the Ministry of Finance serves as a board.

Stakeholders task board Reacting to the inauguration of the board, President, Association for Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Faruk Umar, expressed delight over the appointment of the new chairman, who he described as knowledgeable and has a lot of integrity. “My immediate advice to the board is that SEC should try as much as possible restore the credibility of organisation because we have never seen a situation, less than two years you have three DGs. It is not healthy for corporate governance. “This happened because there was no board. The commission must quickly, bring back the credibility in issues in the market, especially issue regarding Oando Plc. “What has happened in Oando Plc is not giving the market a good image in the eyes of the international investors.

Ministry will intervene, court will come and all these have not been good for the market,� Umar said.

He added that the new chairman should concern himself with issues that would move the market forward instead issues that are very inconsequential. “They should be concerned with developing the market. They should come out with policies that attract investors instead of meddling into affairs of companies and talking about gifts at annual general meetings (AGMs) and companies interacting with shareholders. These are minor issues that SEC should not interfere,� he added.

Also speaking, the founding National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu, said Lijadu was a company secretary of a

quoted company and should know more about the attitude of SEC to issues. “The first thing he and other board members should do is to sit down and look at the management of SEC and do the needful to encourage the people to work by confirming those that need power to move ahead and do the job. “And then, they should look at the relationship with those that there regulating and the shareholders. The outcry of the shareholders must not be ignored. This is very important because of the shareholders that have regulators. It is shareholders that continue to sustain the regulators. “If you look at it from every angle, it is the shareholders’ contributions that sustain the market and everything must be considered before a decision is taken,�

Nwosu said.

He said the board should also look at the issue of Oando Plc because it has the capacity to impact negatively on SEC, shareholders and investment terrain. “A just decision must be taken. Either to start all over again on the issue and regain the credibility of SEC because the credibility of SEC is in doubt due to the political interference on everything about SEC. “The capital market is a capitalist market and does not require office of Chief of Staff or Presidency to continue to micromanage SEC. Micromanaging does not help. Rather it creates problem. “You see people who do not understand the regulation interfering and saying this is what we want to enforce on the people.

Even we know that SEC DG is appointed by the Presidency, the appointment does not say the Presidency will now be managing SEC,� Nwosu said.

On his part, Akinduro said the board should work towards ensuring that all policies in the 10-year capital market master plan are implemented. “Also, the investments of investors should be paramount and the board should listen to the views of minority shareholders which are the back bone of the market,� he said.

In his opinion, the National Chairman, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, said the board should ensure the management is made up of technocrats and professionals to run its affairs and not mere political appointees.

According to him, the crop of staff in SEC may not be able to take the commission to the level people expect it to be. “I believe the government is eager to take the economy back on track and the capital market regulated by SEC has a vital role to play. There is the need to have strong management in SEC. That is the only option to restore investor confidence give hope investments in the Nigerian capital market,� he added.

A market operator said one key issue the board should look at is how to resolve executive matters raised by the Ministry of Finance by the panel that looked at the allegations made against Mounir Gwarzo.

Irrespective of what the courts have said, there are fundamental issues that panel report pointed and should be addressed and settled by the board to ensure discipline and strong governance in the commission,� he said.

He said the commission should also intensify its market development function by organising enlightenment programmes through workshops/seminars,town hall meetings among others. “SEC should look at its market development functions as contained in 13(e) (f) (i) (j) of the ISA No. 29 of 2007 so as to ensures that all stakeholders including investors, academic community, market operators, law makers, professional bodies, government functionaries are appropriately educated on the activities and initiatives of the commission in order to deepen the market,� he said.

WEDNESDAY JUNE 26, 2019 • T H I S D AY

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T H I S D AY Ëž Ëœ Í°Í´Ëœ Ͱ͎ͯ͡

Youths Empowered on Aquaculture Value Chain Oluchi Chibuzor No fewer than 35 unemployed graduates have been trained on aquaculture production and post-harvest technology.

The training was organised by the Nigerian Institute for Oceanography and Marine Technology (NIOMR).

The training was jointly facilitated by the Senate Committee on Agriculture and Honorable Linus Okori.

Speaking in a welcome address at the opening ceremony of the event, held in Lagos recently, the Acting Executive Director/ Chief Executive Officer (ED/ CEO), NIOMR, Dr. Patricia Anyanwu, urged Nigerian youths to take agriculture business serious considering massive investment flowing into the sector over the last few years.

Represented by the Director, Biotechnology and coordinator of the training, Dr. Oresugun Adekunle, said Nigeria with a total fish consumption estimated at two million metric tonnes (MT) only produces one million MT, amounting to

about $800 million of foreign earning flowing into another countries economy. “The target is to have more production, to have less importation of fish for the country to meets local demands for fish consumption in the country,� she said.

She also added that training was targeted at changing the pattern by making Nigeria produce fish locally.

According to her, this can only be achieved by engaging more people in fish production. “We have given something to start-off, with that way more people will be included in the business and that will lead to more production and there will be increased productivity. “The impacts of the initiative have been very positive because we also monitor to see what has happened to our participants. For instance, have they been producing? Do they have challenges? “What we have hearing is not 100 per cent but majority of them are now established fish farmers,� she said.

Expert Calls for Regulation of Food Vending Business Segun James The federal government has been advised to regulate street food vending in the country.

According to experts, the business is the major cause of food poisoning in the country.

Professor of Food Technology at the Department of Food Science and Human Ecology at the Federal University of Agriculture, Abeokuta, Prof. Folake Henshaw, gave the advice while speaking at the 43rd Nigeria Institute of Food Science and Technology (NIFST) Day celebration held

in Lagos recently.

According to her, over 600 million people suffer from food poisoning worldwide annually, adding that in Nigeria alone, about 2.4 cases are reported.

Henshaw, however regretted that there was high level of under reportage of such cases, especially in the rural, hence the need for the various tiers of government to put the machinery in place to regulate the sector.

Henshaw, argued that operators cannot be completely banned since the business contribute to poverty alleviation in the country.

She said consumption of street food in the country had been on the rise as a result of rapid urbanisation, adding that it provides ready to eat food on the go.

Henshaw, said over 7.4 million Nigerians are employed and engaged in sector which provide source of livelihood to many more people.

However, she said in view of the hazards associated with street food trading, it had become imperative that the government should set up an agency to regulate the sector.

Earlier, the chairman of the Lagos chapter of NIFST, Mr. Sunday Bamgbose, said the theme of the event was chosen in line with the project on street food trading embarked upon by NIFST which has been adopted nationally.

According to Bamgbose, “today we all have opportunity of enhancing our knowledge on latest development in food safety. Not only as professionals in the field but also as consumers that require safe food in order to produce safe food for others.

Visa to Boost Cross-border Payments Emma Okonji Visa has announced the commercial launch of the Visa B2B Connect network.

It is expected to give financial institutions the ability to quickly and securely process high-value corporate crossborder payments globally.

Visa B2B Connect launch would cover 30 global trade corridors, with an aim to expand to as many as 90 markets by end of 2019.

Announcing the initiative, Global Head of Visa Business Solutions, Kevin Phalen, said: “Launching Visa B2B Connect marks an important industry milestone which will accelerate the evolution of how commercial payments move around the world. “By creating a solution that facilitates direct, bank to bank transactions, we are eliminating friction associated with key industry pain points.

With Visa B2B Connect, we are making payments quicker and simpler, while enhancing transparency and consistency of data.�

Visa B2B Connect removes friction and time spent on cross-border corporate transactions by facilitating transactions from the bank of origin directly to the beneficiary bank.

The network’s unique digital identity feature tokenises an organisation’s sensitive business information, such as banking details and account numbers, giving them a unique identifier that can be used to facilitate transactions on the network.

Visa B2B Connect’s digital identity feature will transform the way information is exchanged in businessto-business cross-border transactions.

Executive Vice President Cornèr Bank, Alessandro Seralvo, said: “We are excited to be a pilot partner for Visa B2B Connect. This modern way of carrying out crossborder B2B payments creates a substantial added value for our corporate clients. “Velocity, security and control of transactions as well as a lower counterparty risks are essential for a successful business with international partners.â€?

Partners, including Bottomline, FIS and IBM are integral parts of the future scale of Visa B2B Connect. Bottomline and FIS are bringing Visa B2B Connect platform access to its participating bank clients.

Along with Visa’s core assets, Visa B2B Connect utilizes open source Hyperledger Fabric framework from the Linux Foundation, in partnership with IBM. This helps provide an improved process to facilitate financial transactions on a scalable, permissioned network.

President and CEO, Bottomline, Rob Eberle, said: “Bottomline is delighted to be working with Visa to accelerate the adoption of innovative ways for businesses to make faster cross-border payments.�

General Manager, IBM Blockchain, Marie Wieck, said: “Working together on Visa B2B Connect, we are combining the strengths of the world’s leader in electronic payments with IBM’s recognised expertise in helping scale distributed ledger technology. This is a unique example of how blockchain-based architecture can help transform B2B value chains by facilitating secure, trusted transactions globally.�

SENSITISATION FORUM

L-R: Project Director, Nancy Health Initiative, Mr. Isaiah Owolabi; Head Sustainability, Access Bank Plc. Omobolanle Victor; Country Representative, United Nations Population Fund (UNFPA), Mr. Eugene Kongnyuy, and Ambassador, UNFPA, Stephanie Linus, at one-day private sector summit organised by the UNPFA, held in Lagos‌recently PHOTO: SUNDAY ADIGUN

Schneider Electric, EM-ONE to Power Kaduna Hospitals Peter Uzoho Global energy specialist, Schneider Electric, has signed a memorandum of understanding (MoU) with a Canadan energy firm, EM-ONE Energy Solutions, to deliver 30 minigrids to power hospitals in Kaduna State.

The initiative is to support the university and enhance rural electrification in the country. Under the MoU, Schneider would provide support to EM-ONE, while the energy firm delivers the project to the Kaduna health institutions.

A mini-grid is an integrated local generation and distribution system with installed capacity below 1 megawatt (MW), capable of serving numerous end users independent of the national grid.

The Vice, Business Development, Africa and Middle East, Schneider Electric, Mr. Paul-Francois Cattier, was quoted in a statement to have said the group has for the last 18 months been working to set up an industry based on mini-grids built or operated by local stakeholders.

He said 700 mini-grids had already been set up in

various communities across Africa under its Access to Energy Programme.

Cattier said: “EM-ONE Energy Solutions has already won a contract for 30 mini-grids in Nigeria to power hospitals in Kaduna State, and is also targeting the university and rural electrification market. “The MoU concerns Schneider’s support with optimising the architecture of these projects and developing an industrial platform to integrate these mini-grids into containers in Nigeria and manufacture Schneider Electric mini-grid solutions under licence.

“Rather than importing mini-grids produced in Europe, Asia or North America, we want to create an African mini grid industry with operators, integrators, investors and local jobs. Schneider Electric will provide them (EM-ONE) with advice on setting up an industrial plant and testing.�

Cattier added that there were growing opportunities in the African energy market, with companies operating in various industries making the switch to hybrid energy solutions via mini-grids.

FCTA Approves N1.2bn for Retirees’ Payment Olawale Ajimotokan in Abuja The FCT Administration has approved the sum of N1, 284,000,000 for the payment of FCT retirees.

The Director and Chief Executive Officer, FCT Area Council Pension Board, Mr Nanzing Nden, made this revelation while briefing journalists recently.

He disclosed that the money would be used to settle 234 retired officers in the six area councils in addition to teachers in the councils.

He explained that the pay-

ment was one of the approvals the Board got from the former FCT Minister, Malam Muhammad Musa Bello, before he left office, which the Permanent Secretary, Chinyeaka Ohaa, followed up with a directive to the treasury for prompt payment.

Nden, also clarified that the benefits would only be paid to those that have submitted their documents and have been processed for payment up to April this year.

Briefing the media on some developments within the pension administration system in the FCT, he also

revealed that the Board has a total liability of N138 million as outstanding liability for 31 files it received from May to date.

Nden that the Board would stick to the plan to pay pensioners three months before their retirement by September.

He further stressed that the ideas was to jettison the old system where by people retired and could not access their benefits for many years.

He promised that by the year 2020, the Board would actualise the vision to pay six months before the retirement

year.

He disclosed the FCTA tender board had also approved that all the files of pensioners that have been paid through their system will be converted to e-files, adding that all the old files would be sent to FCT Archives for storage.

According to him, the board had got the nod from the administration for a consultancy for infrastructure and ICT deployment to help with system for accounting, auditing, pension administration and other services within the pension system.

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Increasing Nigeria’s Non-oil Export Potential James Emejo writes that considering the increasing vulnerabilities associated with overreliance on crude oil as a major source of revenue for the government, as well as the present administration’s drive to boost revenue from non-oil export, the proposed Sealink initiative, whose pilot operation is expected within the second quarter of the year, will significantly enhance the country’s non export trade within the West African sub region

T

he dangers posed by an oil economy to fiscal conditions cannot be underestimated.

In 2008, amid the global financial crisis, which witnessed the falling prices oil and eventual recession in some economies, particularly the developing countries, economies which relied heavily on oil for survival were hard-hit by the crisis.

This is so because, these countries are always vulnerable to price movements as a drop in commodity prices meant less revenue to meet financial obligations to citizens.

Nigeria was also cut in the web and remains susceptible to oil price fluctuation until the economy is fully or substantially diversified from oil.

The latest Foreign Trade Statistics released by the National Bureau of Statistics (NBS) showed that of the country’s total exports in the first quarter of the year (Q1 2019) crude oil still accounted for 74.45 per cent of exports while non-crude exports represented 25.55 per cent.

This appears to be a far cry from the objectives of the President Muhammadu Buhari’s administration to broaden the base of the economy through diversification into non-oil activities.

According to the NBS, although the value of exports in Q1 increased by 1.78 per cent compared to the preceding quarter, it decreased by 3.90 per cent when compared to the value recorded the corresponding quarter of 2018.

Experts have variously argued that the inability of Nigerian products to access international markets remained a major constraint to boosting non export target.

This is partly in realisation that most products for exports were often rejected because they do not meet standards in countries of destination: as well as the fact that the European markets have often times proven to be impregnable for Nigerian exporters.

Notwithstanding, the continent have been criticised for the inability to trade among member countries, thereby losing out from the immense market opportunities that remained untapped.

But this inability to trade among themselves is partly due to a myriad of challenges, chief of which is the maritime infrastructure.

The development had necessitated the evolvement of proactive strategies to facilitate and enhance non-oil export activities in order to boost growth and employment which remained a major challenge for government. The NBS estimated the country’s current unemployment rate at 23.1 per cent.

However, in order to open up the waterways for increased trading among countries in the West African sub region, a development which will no doubt be of immense benefit to the country, the Nigerian Export-Import Bank (NEXIM), in 2011 successful sealed an agreement with the Economic Community of West African States (ECOWAS) Commission on Private Sector to establish a maritime shipping company which will connect the West African coastal ports including Central Africa in order to boost trade within the region.

Bello Described as a major step in deepening trade within the sub-region, the initiative seeks to chart an efficient sea transportation system that would enable the ECOWAS sub-region to move goods from one-member state to another as well as stop any capital flight within the region.

As a trade policy bank and a trade facilitating agency also focused on deepening trade within the ECOWAS sub-region, NEXIM believes that one of the major trade barriers identified in export trade was to move goods by sea in view of the problems associated with land transportation including multiple checkpoints, harassment by security agencies among others.

Consequently, the regional Sealink project was initiated by the Bank at the prompting of MAN Export Group.

Managing Director/Chief Executive, NEXIM Bank, Mr. Abba Bello said the project on completion would further spur the country’s regional and global trade competitiveness as well as the country’s boost annual non-oil revenue receipts to between $500 million and $1.2 billion through bulk solid minerals exports.

A former official who had worked on the project had told THISDAY that “One of the major reasons why we have to embark on this is that, if you have to move your goods from Lagos to Kema port or any city in Ghana, it would take you about three days; but if you have to move your goods from Apapa Ports to Tema Port, it’ll take

you a minimum of 60 days and the simple fact is that we don’t have Cargo vessels here-they either move to South Africa or they move to Europe and do a trans-shipment. “Under that kind of scenario, there is no way you can deepen trade; there’s no way you can integrate what even the ECOWAS commission is trying to do.�

However, in a development which inches closer to the actual berth of the Sealink project, Sealink Consortium and the National Inland Waterways Authority (NIWA) recently signed a Memorandum of Understanding (MoU) to formalise and deepen the existing collaborative partnerships as well as bridge infrastructure gap in the maritime sector to promote and enhance trade connectivity among member states of the Economic Community of West of West African States.

Bello, emphasised that the historic collaboration would promote and diversify exports as well as enhance trade connectivity in line with the present administration’s objective to diversify the economy.

He stressed that bridging the maritime infrastructure gap would significantly enhance exports of bulk solid minerals, thereby enhancing the GDP contribution of both shipping and solid minerals sectors from current levels of about 0.2 per cent.

According to him: “The effective implementation of the Sealink project and the safe utilisation of the inland waterways would no doubt bridge logistics gaps that will attract and facilitate investment

flows the two sectors. “This will contribute to the realisation of one of the broad strategic objectives of ERGP, which is building a globally competitive economy. “To this end, it will also contribute to improving Nigeria’s current World Bank ease of doing business and Logistics Performance Index (LPI) rankings.�

He added that the MoU represented a significant milestone in ongoing collaborations with all key national and regional maritime stakeholders, which would be catalytic to the realisation of one of the priority projects under the ECOWAS Community Development Programmes.

According to the Chairperson, Sealink Implementation Committee, Mrs. Dabney Shall-Holma, the initiative is currently promoted by NEXIM, FEWACCI / NACCIMA and Transimex S.A. Cameroun through a Special Purpose Vehicle (SPV), Sealink Promotional Company Limited (SPCL) with nominal shareholding sponsorship arrangement.

She said the project is basically designed to bridge maritime transport infrastructure gap, among ECOWAS and CEMAC member states as well as promote inland waterways operations towards facilitating intra-regional trade and reduction of non-tariff measures; regional integration/ reduction in logistics cost, and movement of bulk cargo among other objectives- and is implemented in partnership with the NFIC to promote Nigerian Maritime Fleet.

She stressed that the promotion of Sealink had become inevitable in order to bridge transport infrastructure gap among member states along the ECOWAS trade corridor, especially against the backdrop of frequent cargo losses arising from long transit period/delivery delays due to trans-shipment arrangements and improving transaction cycle.

Shall-Holma, further stressed the need to promote as well as enhance ECOWAS regional trade percentage contribution and reduce informal trade, noting that Intra-ECOWAS trade had stagnated at about 12 per cent - 15 per cent over the years.

She disclosed that based on the understanding reached among stakeholders to fast track the realisation of the regional sealink, implementation had been anchored in loops – namely the East which included Nigeria and Cameroun; Central including Togo and Ghana and West which had Senegal and Cape Verde.

According to the her, the implementation update from the Nigeria- Cameroun axis already indicated that pilot scheme arrangements were on-going with the setting up of sealink implementation committee (SIC) with membership across various agencies and key stakeholders.

No doubt, the commencement of the pilot operations of the Sealink which had been tentatively fixed for second quarter of the year, will lead to unprecedented increase in non-oil export activities with the attendant positive implications for growth and employment generation, assuming all other factors including policy play their roles to aid growth.

Eni/NNPC, FAO Boost Water Supply to Conict Areas in North-east Emmanuel Addeh in Yenagoa As part efforts to improve access to water in the areas affected by conflicts in the north-eastern part of the country, the Food and Agriculture Organisation (FAO) a United Nations body and the Nigerian Agip Exploration (NAE), an Eni subsidiary, have facilitated the supply of water in Bama, Borno State.

The scheme, involving a solar powered borehole is the 10th established as part of the ‘Access to Water’ initiative currently being implemented, FAO Country Representative in Nigeria and ECOWAS, Suffyan

Koroma, said.

The public-private sector partnership would boost access to water for domestic consumption as well as smallscale agricultural activities like micro-gardening, the international body noted. “In Bama alone, the water scheme is expected to reach 40,000 internally displaced people and the host community. Through the provision of clean water, FAO and ENI believe the intervention will improve sanitation and help restore livelihoods by making water available for dry season irrigation� Sufyan said.

The FAO and Eni had in

2018 established water schemes in Chibok, Biu, Damboa and Gwoza Local Government Areas, all in Borno state. “The first of the five wells which provided for the IDPs and host communities in the Federal Capital Territory (FCT) was commissioned in November 2018� FAO said.

According to the organisation, “the solar boreholes and FAO’s larger investment in irrigation and water management is a signal of our commitment to support the government of Nigeria achieve her development goals. In the north-east, the availability of safe drinking water and water

for agriculture is central to growth and recovery�.

Alberto Piatti, Eni’s Executive Vice President for Responsible and Sustainable Enterprise, in his comments, said the company would continue to strive to increase major supply to the affected areas.

He said: “Access to water is a prerequisite for life.

With the water scheme we commissioned in Borno state, we strive to increase access to clean water, thus impacting overall living conditions in the communities and contributing to the stabilisation of the area.� “The Access to Water

initiative is implemented in the framework of the Collaboration Agreement between FAO and Eni in Nigeria, geared towards achieving Sustainable Development Goals (SDGs), particularly SDG1 - No Poverty; SDG2 - Zero Hunger; SDG6 - Clean water and Sanitation; SDG13 - Climate Action and SDG17 – Public-Private Partnerships for the Goals. “The water schemes are solar-powered, provided with back-up power system to ensure availability and sustainability� he added.

As part of the initiative, the relevant local authorities were also involved to provide

support in training and sensitising the communities on water management and practices for long-term sustainability.

Eni has been present in Nigeria since 1962 through its subsidiaries NAOC (Nigerian Agip Oil Company), AENR (Agip Energy and Natural Resources) and NAE (Nigerian Agip Exploration), with both onshore and offshore activities.

It’s sustainability effort in Nigeria, it said, includes activities relating to agricultural development, access to energy, health, training, environmental protection, as well as specific initiatives for stakeholder engagement.

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Unlocking Opportunities in Nigeria’s Gold Market As the federal and state governments continue to seek ways to diversify their revenues, experts believe that opportunities in the gold value chain should be unlocked, writes Nume Ekeghe

G

old remains one of the world’s most coveted commodities, based on its rarity and malleability. In 2001, the precious commodity’s average price was $US 271 and by 2017 it had jumped to almost $US 1,257.

Countries with largest estimated reserves are Australia, South Africa, and Russia.

Currently, China is the world’s leading producer of gold, followed by Australia and Russia.

Also, Nigeria isn’t lacking of gold. Actually, the country has a thriving underground gold economy that if regulated, could unlock the as the gold market Centre of Africa.

Despite the mostly informal structure of the gold market, Nigeria has one of the largest economies, the largest population in Africa, and is a top contender for the largest emerging market for luxury goods in Africa.

The lustre and luxury items visualised at the mention of gold is part of a long value chain that Nigeria does not participate in.

Maru gold (gold from Maru Zamfara) is identified on sight by gold merchants in the gold souks of Dubai. Mumbai, Valenza and Arezzo Gold districts feel the groan of the Nigerian Foreign currency crunch when their Nigerian customers spend less.

Cotonou smuggling paths continue to thrive and create an undocumented supply of gold to Dubai and Asia.

But the emergence of the Nigerian gold purchase scheme and the development plan for an internationally certified gold refinery in Nigeria creates an opportunity for an intervention in a critical sector that would promote economic growth and reduce unemployment. According to experts, harnessing opportunities in the gold sector would boost Nigeria’s Gross Domestic Product (GDP) and promote non-oil exports.

Therefore, to sustain this development, Nigeria would need to reconsider its view on gold - the issues and ownership of gold as a commodity mined, recycled, and imported as a financial instrument, scientific product and as a potential instrument for economic warfare make it a matter of national security and importance.

Furthermore, experts stressed that developing the gold value chain would drive innovation, stimulate the economy, and generate income for government coffers.

Also, they pointed out that Nigeria could become a gold economy irrespective of whether it mines gold or not. India, UAE, Singapore, Italy, Switzerland, Turkey and London are renowned world gold markets without the classification of gold mining countries.

Teriba

West African Value Chain While world gold mine production has been declining, West African gold production has been growing. In 2011, West Africa became the hub of African gold mining when the total production of gold from West Africa overtook South Africa’s gold production. Out of the 15 ECOWAS countries, Cape Verde, Benin and Togo are the only countries without notable gold reserves.

However, Benin and Togo are notable for gold trade.

All other ECOWAS countries have either significant documented gold reserves, internationally listed gold mining companies or significant footprint of artisanal gold mining. The recently released World Bank 2018 figures now have Ghana as the leading producer of gold in Africa. West Africa is becoming synonymous for gold.

At a June 2019 stakeholders’ session in

Lagos between the private sector and the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, Aliko Dangote iterated that activities of smuggling from the Benin Republic route is killing manufacturing in Nigeria and that it would be difficult for a country to survive with Benin Republic as a neighbour. A recent World Bank report on smuggling showed that about N1.45 trillion worth of goods is smuggled into Nigeria annually through Benin Republic.

With Benin and Togo having 0% royalty on gold, neighbouring countries will find it almost impossible to prevent major royalty revenue leakages and counteract gold smuggling.

Dangote’s warning coupled with Ghana’s new status echoes the major premise for the solution towards the development of the gold value chain in West Africa - issues of different trade and monetary policies across the ECOWAS region must consistently

support the development of the gold sector.

A report by Reuters titled: ‘Gold worth billions smuggled out of Africa,’ had revealed that most of the gold traded out was not recorded in the exports of African states.

Backed with confirmation from several trade economists that large amounts of gold are leaving Africa with no taxes being paid to the states that produce them, evidence points to this being a higher concern in countries and areas with large artisanal mining.

Although artisanal mining organisation and formalisation is part of the process needed towards regulating and developing the gold economy of the region, fiscal trade and monetary policy harmonisation are vital for the development of a gold market in West Africa.

Ghana, which has become Africa’s biggest gold producer, shares borders with Togo, one of the top gold exporting countries of Africa with abysmal records of production.

It is true that Ghana wears the cap for gold production, Cote D’Ivoire is the present favourite destination for gold mining investment and Nigeria pulls the strings for trade volumes, but as far as developing the gold value chain, no West African country can succeed on its own as it would take a regional effort to build a sustainable gold economy and make West Africa a gold market.

According to the Managing Director of Kain Smith Trade & Co Limited, Mrs. Nere Teriba, the Nigerian narrative on gold is advancing from “gold exploration and mining to gold market and economy.�

She said the planned Gold West Africa conference was focused on developing the gold value chain in the region towards establishing West Africa as a gold market centre.

The development of the gold value chain in Nigeria has strong dependencies on gold, trade and monetary policies across ECOWAS and the geographical region of Sub-Saharan Africa, she added. “Economic and sustainable solutions towards artisanal gold mining, trading, refining and creating gold products and markets can only be achieved when public and private stakeholders in the gold sector of West Africa jointly create the eco-system for the gold economy to thrive above ground,� she added.

The co-host, of the conference, Mr. Kolade Apata, said: “For the folks who are fortunate enough to attend the conference, they will quickly realise the investment opportunities available with the launch of the Gold Refinery. For example, Nigeria could easily become the jewellery and gold trading hub in West Africa.�

Belemaoil Empowers Two Musicians, Others with N30m Ernest Chinwo in Port Harcourt Indigenous oil firm, Belemaoil Producing Limited, has empowered 10 people, including two musicians; Dauye Youdubagha and Tamunoemi Debo-Gold, with about N30 million to start-up businesses.

While Youdubagha, popularly known as Baba Sempe, hails from Opukuma Community in Kolokuma/Opukuma local government area of Bayelsa State, Tamunoemi Debo-Gold is from Buguma in Asari-Toru local government area of Rivers State.

Handing over cheques to the beneficiaries in Port Harcourt recently, the Director, Production, Belemaoil Producing Limited, Mufa

Welsh, said the aim of the economic empowerment was to assist government in reducing unemployment in the country.

Welsh said: “It is actually to assist the government to reduce unemployment rate in Nigeria so that we can reduce insecurity in the country.

Belemaoil is committed 100 per cent in ensuring that unemployment is reduced in Nigeria.�

He charged beneficiaries of the economic empowerment programme to make good use of the funds provided for them.

Welsh said: “My charge to the beneficiaries is to ensure that the judiciously use the funds provided to them. They

should make sure the create employment for those who are unemployed.�

Speaking also, the General Manager, External Relations, Belemaoil, Samuel AbelJumbo, said gestures by the indigenous oil firm were not limited to it’s areas of operations and host communities alone.

Abel-Jumbo said: “Let me throw light on a particular case that I feel very concerned about. Part of what we do as an indigenous company, we are not only limited to our areas of operations. We still get across to other communities in other states. We have our brother here, Baba Sempe. “When he called me on phone and we interviewed

him. I asked, where are you from? He said he is from Bayelsa State, Niger Delta. He is our brother. If he succeeds in music, he will help five other people to succeed. “What we do here, we are all passionate about it. We are starting it up with you, others will benefit from it.�

India reaction, one of the beneficiaries, Debo-Gold, who is more than 70 years old, prayed God to bless Belemaoil Producing Limited and its Founder/President, Jack-Rich Tein Jr. He said: “Surprisingly, on March 9 during the governorship election, the election was manipulated somehow. So, it came to my memory and I was inspired and I sang a song.

“That song was videoed and put on Facebook. That was where Belemaoil saw me and picked me and did me this favour today. “I have already handed him over to God. God should guide him He has made my live to be longer again. I am above 70 but I am younger now.�

Another beneficiary, Bethel Oko-Jaja, thanked the management and staff of the indigenous oil company for the kind gesture to the people of Niger Delta and host communities in particular.

Oko-Jaja said: “We warmly thank the management and staff of Belemaoil Producing Limited and NNPC for their kind gesture to the good

people of the Niger Delta and the host communities to Belemaoil Producing Limited.

I must sincerely say there is a great difference between practical and theory. “Today, Belemaoil has shown that commitment in ensuring that the people of Niger Delta and Nigerians are properly empowered for national development. This kind of gesture will not go unappreciated, if not by man,

by God Almighty. “Let me say that today, you have created the creeks and the canals; the water will flow. I want to say that God that made it possible for some of us to benefit today, will continue to protect Belemaoil.�

WEDNESDAY JUNE 26, 2019 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY, JUNE 26, 2018

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EDUCATION PAMO: Edging Itself in Tertiary Education Space With a second and colourful matriculation ceremony held in Port Harcourt last weekend, the first private medical university in the country, PAMO University of Medical Sciences, has edged itself in the Nigerian tertiary education space. Davidson Iriekpen writes

I

t was fun and excitement last Friday when the first private medical university in Nigeria, PAMO University of Medical Sciences (PUMS) held its second matriculation ceremony in Port Harcourt.

As expected, the university auditorium was filled to capacity with dignitaries from far and near, including parents, guardians and students, all in joyous mood. For the Vice-Chancellor, Prof. Michael Diejomaoh, the occasion was again an opportunity to showcase the institution’s uniqueness. He reminded the students to take their studies seriously, adding that it was because the school found them worthy in character that they were given admission. He advised the students to be worthy ambassadors of the university and Nigeria.

Diejomaoh, a world-class obstetrician and gynaecologist, advised the students not to flout the rules and regulations of the institution, telling them that at the end of their studies, they won’t regret attending the university as they would stand out in their chosen professions.

Also speaking at the occasion, a former Head of State and Chancellor of PUMS, General Abdulsalami Abubakar (rtd), described the institution as a world class university dedicated to building healthcare workers, including medical doctors and nurses in the country. While commending the state government for supporting the school, he said the progress made in PUMS within the last one year shows the prospects and what the future holds for Nigerians.

According to him, going by the impact and steady progress the university has made in just two years, it could not have come at a better time than now to fill the gap left by most institutions in the country. He decried the inability of most Nigerian public universities to provide standard medical-related programmes, promising that PUMS would strive to address all the challenges facing medical education and practice in the country as it aims to achieve global excellence in terms of teaching, research and community services.

He added that the university will produce graduates in different fields of medicine who are not only competent in their professions, but also worthy in character and learning.

The former head of state advised the students to be good ambassadors of the institution, adding that he has no doubt that based on the training they would receive, they would all stand out in the society.

A former Governor of Rivers State and the Pro-Chancellor of PUMS, Dr. Peter Odili on his part, stated that in less than 14 months of establishing the institution, Nigerians are now choosing the school ahead of the quota set by the university.

He added that the institution has, in a short time, become a choice of study for many Nigerians filling their Joint Admissions and Matriculation Board (JAMB) forms.

The renowned medical doctor noted that the level of discipline and quality of learning in PUMS are unrivaled, as its projection remains to become one of the best universities in the country.

“Those who are filling PAMO University in their JAMB forms have surpassed the space we have for students. This shows that many students want to come to the school for their academic pursuit. Our plan is to ensure that graduates from this institution are exceptional in the course of offering healthcare services to Nigerians. And for that to happen, they must be certified worthy in character and learning, which is what we are pursuing.

“Though the university has put in place stringent conditions of learning, they would help in guiding you to success. Take those pains now and bear, at the end of the day, you will forever be grateful to the university you attended.

Some principal officers of the university during a procession

A cross-section of the matriculating students

“In the hospital setting, the most important person is the patient. You must therefore treat your patients like your bosses without which you have no work. For that to happen, your character must be impeccable, and that is what PUMS is about,” Odili added.

On his part, Governor Nyesom Wike of Rivers State said he was glad that students from the institution can now use the state teaching hospital for their trainings, adding that products of the school would eventually benefit the state, as well as the country.

Wike, whose government is sponsoring 100 students every year in PUMS, said the state will also support the school with N250 million. He called on illustrious sons and daughters of the state to emulate the pro-chancellor by establishing institutions that have lasting legacy.

To the students, the governor said: “Students matriculating here should count themselves worthy to be in PUMS because their courses are constantly on demand. Be willing to serve our country and state when you graduate.”

PUMS was conceived and given birth to in order to bridge the gap of inadequate manpower in the medical and healthcare sector. It is well-equipped with modern facilities found in most developed countries.

For many who know the institution, one of its greatest strengths is that its founder is not only a renowned medical doctor, but has, since the 1980s, established the PAMO Specialist Hospital, which means that from

takeoff, the institution has an already-made teaching hospital to aid students right from 100 level in order to have a full medical knowledge and experience. This is unlike other universities whose students start hospital experience from 400 level.

The university has courses such as anatomy, biochemistry, human nutrition and dietetics, pharmacology, physiology, and nursing medical laboratory science in the Faculty of Basic Medical Sciences, as well as Bachelor of Medicine and Surgery (MBBS) in the Faculty of Clinical Sciences.

Sited in a serene atmosphere in a large expanse of land off Aba Road in Port Harcourt, PUMS boasts of tasteful facilities with full residency for students. Because of the crises that have characterised public and most private universities in the country, PUMS in order to ensure it achieves its core mandate of producing quality medical doctors and healthcare personnel in the country, has set the rules for incoming students. These rules, the management of the school has promised, won’t be compromised.

To maintain high academic record, the university has kept its admission strictly on merit and has placed all students on residential accommodation on campus. For students to concentrate on their studies and not unnecessarily show off their background, they are not allowed to use cars on campus.

The school management said there is

absolute zero tolerance for cultism and related vices for both staff and students, adding that students are not allowed to expose their bodies indecently, as there are dress codes for lectures and official functions for both students and staff of the institution.

For those who were there to witness the event, PUMS could not have come at a better time than now when medical education in the country is facing the challenges of access, quality and relevance. This is compounded by the inadequate number of medical and healthcare professionals practicing in the country.

Presently, medical schools in the country cannot absorb the number of qualified candidates that are interested in pursuing courses in the medical field. Universities in Nigeria, whether private or public offering medicine are distracted by other courses since they are not specialist institutions. This is where PUMS stands out.

According to statistics, Nigeria has only 35 per cent of her requirement for medical practitioners. This gloomy picture is worsened by the fact that less than five per cent of qualified applicants can be admitted into degree programmes in medical and health sciences in all universities every year in the country on account of limited spaces.

In a sector and industry which is prone to stories of what has gone wrong and what is not working, PUMS is gradually changing the narrative

T H I S D AY ˾ WEDNESDAY, JUNE 26, 2018

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EDUCATION

UNODC’s Initiative Promotes Education to Prevent Crime, Drug Use, Violent Extremism in Nigeria Bennett Oghifo The United Nation’s Office on Drugs and Crime (UNODC) has launched the Education for Justice (E4J) Initiative in Nigeria, which seeks to prevent crime and promote a culture of lawfulness through education activities and materials designed for primary, secondary and tertiary levels.

Already in 2015, the international community identified education as a crucial tool in preventing crime, drug use and violent extremism among youths. It is in this spirit that the Federal Ministry of Education and UNODC launched the E4J initiative.

A statement by the Communications Officer, UNODC Nigeria, Mr. Sylvester Atere said the overriding objective is to help educators teach the next generation basic values such

as respect, integrity, fairness and empathy; making them more resilient against crime, violent extremist ideologies, and drugs, to help them better understand problems that can undermine the rule of law and to encourage students to actively engage in their communities and future professions in the promotion of a culture of lawfulness.

The statement said through the E4J Initiative, UNODC has been supporting Step Up Nigeria since 2018 to promote the fight against corruption with children’s books. In March 2019, the office in partnership with Facebook and African Teen Geeks organised a Hackathon for Justice providing young coders an opportunity to put their skills in the service of the promotion of the rule of law.

The E4J Initiative is part of UNODC’s Global Programme for the implementation of the Doha Declaration, which was launched

following the 13th United Nations Congress on Crime Prevention and Criminal Justice with the support of the Government of the State of Qatar to help UNODC in assisting United Nations member states in turning their ambitious commitments into reality.

At the primary school level (6-12 years), E4J focuses on promoting and teaching values such as acceptance, integrity, respect and fairness. UNODC and its partners developed innovative materials and tools for children, animated series on the rule of law, a video game to tackle gender based violence. These tools will contribute to support learning on the 2030 Sustainable Development Goals, in particular Goals 4, 5, 10 and 16.

At the secondary level (13-18 years), E4J focuses on providing practical and interactive educational materials such as board games and videos (hyperlinks)

to promote the understanding of the basic concepts that lie at the core of UNODC’s mandate areas, including anti-corruption, counterterrorism, crime prevention and criminal justice, organised crime, cybercrime, fire arms, and trafficking in persons and migrant smuggling.

This is achieved through a focus on ownership, behaviour, rights and responsibilities, aimed at empowering secondary level students to identify, prevent and resolve moral, ethical or legal dilemmas.

At the tertiary level (18+), E4J seeks to support tertiary institutions and academics in their efforts to transmit knowledge and create a deeper understanding of rule of law related issues. In order to do so, UNODC has already developed numerous university modules to assist scholars teaching on rule of law related issues such as crime

prevention, organised crime, counter terrorism, trafficking in persons and smuggling of migrants or cybercrime.

Following the launch, UNODC will work with the Federal Ministry of Education, as well as the United Nations Educational, Scientific and Cultural Organisation (UNESCO) towards promoting the integration of crime prevention and other rule of law related topics into the education curriculum at all levels, through the sensitisation of teachers, professors and policy makers and other stakeholders active in the education sector at Federal and State levels.

Acknowledging the importance of the E4J Initiative, the Permanent Secretary, Federal Ministry of Education, Mr. Sonny Echono, who was represented by the Director, Basic and Secondary Education, Mrs. Lami Amodu said: “I

am particularly delighted that this initiative is coming up at a time when the government is embarking on programmes and activities aimed at steering the youths to the right direction and consciously promoting culture of obedience to the rule of law, integrity, honesty, complete abhorrence to a life of drug, crime and criminality.”

While expressing optimism about the positive impact of the intervention and pledging the ministry’s collaboration for the successful implementation of the programme, he said: “The E4J initiative is expected to leverage on the existing government programmes in order to achieve the desired result of equipping students at all levels of education with requisite skills, attitudes and values reorientation to enable them function effectively and optimally in the fast-changing world.”

Greensprings Students Get Highest Cambridge IGCSE Score in Nigeria for the Third Time

L-R: The Relationship Group Director, Lekki Port LFTZ Enterprise, Adesuwa Ladoja; winner of 2019 Tolaram Science Challenge and pupil of Albesta Academy, Lekki, Oreoluwa Ala; Assistant Director, Education District 3, Lagos, Morebise Ajibola; and the Co-ordinator, Tolaram Science Challenge, Lekki Port LFTZ Enterprise, during the prize presentation to the winner in Lagos... recently

School Feeding: No pupil Was Fed Rotten Fish, Stale Bread in Kogi, Says Official

In what could be referred to as consistent achievement of academic excellence, Greensprings students once again topped the country in the International General Certificate of Secondary Education (IGCSE) exam.

In 2016, Honour Olatunji, a student of the school topped the world in Mathematics IGCSE and this year, five students from the school have been announced as “top in country” in five subjects, making it a total of 16 students who have won the Cambridge Outstanding Learner Awards in the last three years.

In an event organised by British Council and Cambridge Assessment International Education to celebrate the winners, Agbodesi Imoagene was awarded Top in Country for Physics; Lucas Nelson was awarded for English Language; Raye Oji was awarded for Literature; Toluwalase Awonuga

Mass Failure: Stakeholders Urged to Support Schools for Flexible Learning Funmi Ogundare

Yekini Jimoh in Lokoja.

The Kogi State Office of Social Investment Programme (SIP) has refuted the report from a section of the media that ‘’pupils were fed with rotten fish and stale bread’’ in schools under its Home Grown School Feeding Programme (HGSFP) in the state.

The Public Relations Officer, Office of the Special Adviser to the Governor on Multilateral, Donor Agencies and Special Projects, Mr. Ahmed Bachido, who is the SIP Focal Person in

Kogi, told journalists in Lokoja that the story was untrue. ‘’There was never a time any pupil in any school was fed with either rotten fish or stale bread because adequate measures and monitoring are being carried out to forestall such anomalies. ‘’The safety of our pupils is important to us, hence the proper attention and monitoring that the office has put in place to ensure that pupils are fed with quality food at all times.

‘’The pilot phase of the programme was test run in February 2019 and the food menu was carefully followed by all the caterers and the food served to the pupils were perfectly in order as directed and monitored.

Bachido added: ‘’The Head of Unit of HGSFP in Kogi State, Hajia Khadijat Karibo has been very effective in her official engagements of ensuring that adequate arrangement and preliminaries were put in place

for effective implementation of HGSFP in the state.’’

He stated that the office has organised several seminars and sensitisation for the caterers, food vendors, heads of primary schools, store keepers and other critical stakeholders to ensure strict adherence to terms and condition of HGSFP operations. ‘’We have also put adequate measures in place to ensure proper sanction for any caterer, aggregator or vendor, who default the process.’’

AITEO Boosts Educational Devt in Bayelsa

Determined to impact on all aspects of Nigerian citizens, one of Nigeria’s biggest oil exploration company, Aiteo has recently scaled up its social contributions towards education by donating half a billion naira to the Bayelsa State Education Development Trust Fund. This has become the largest donation received by the foundation since its establishment two years ago.

Aiteo had flagged off a com-

petitive football tournament in the country, thus becoming one of the biggest single contributors to football development in Nigeria.

Aiteo’s decision to scale up its contributions to education in Nigeria starting from Bayelsa State is aimed at strengthening the values of knowledge and technology in the country.

Bayelsa State hosts the operational field of Aiteo, where

it is managing the exploration of OML 29; thus the contribution to the educational progress of the state is seen as one of the company’s corporate social responsibility (CSR) which has been upped in recent times under the management’s new leadership, led by its Managing Director, Victor Okoronkwo.

The company said it believes that education is the most fundamental drive for national

development everywhere in the world. This belief is reinforced by the convictions of its founder and Executive Vice- Chairman, Benedict Peters, who is a strong advocate of quality education for the growing young population on the continent.

Aiteo’s resolve to give massive support to educational development stems from the huge deficits plaguing the sector in most African nations.

was awarded in Drama; and Titilola Akinola was awarded for Global Perspectives.

Asked how he was able to emerge top in English considering the fact that many students struggle with the subject, Nelson admitted that he couldn’t have achieved it if not for God and the excellent English teachers of Greensprings School.

“This feeling is wonderful and I am proud of myself. I owe this award to God and Greensprings.

The school gave me the platform to succeed and provided me with the best teachers any student can ever ask for. I thank God I was able to deliver and make my school proud.”

Nelson added that apart from the quality learning environment and teachers at the school, he also worked on himself by reading various books from comics to novels.

The Chief Executive Officer of Save-A-Lot Media Limited, Mr. Akeem Lasisi has stressed the need for corporate organisations and government bodies to support schools in the country so that they could embrace flexible means of learning to curb mass failure especially in national examinations.

Lasisi, who made this known recently at the launch of an indigenous audio-visual classroom application in Lagos, designed to help students learn with ease, said with the flexible learning using the app, students would have the opportunity to listen to classroom-base lectures on specific topics as many times as possible and at their own convenience.

“The fastest way to address mass failure is flexible means of learning. Most students ordinarily need some forms of support system to revise, repost, restore and re-familiarise with the same topic before the expected level of understanding is assured, thus, the need to embrace a tool that

can fill this vacuum and give the students the opportunity in their relaxed mode to keep learning using any mobile device.”

He expressed concern over the number of candidates that could not gain admission into tertiary institutions in Nigeria, saying that if they are given the chance to learn at their own comfort within their homes, it would go a long way.

“If we can’t make it flexible, then how do we address the case of millions of students who had sat for WAEC, NECO and JAMB examination, but unfortunately failed? It is assumed that they failed because they do not meet the knowledge requirements to pass the subjects of examination, which they have spend six years in school to acquire.

“But the question is who and which tool is available for these millions of students to relearn what they failed to pass in their examination, knowing fully well that they no longer belong to any secondary nor tertiary institution because they are yet to pass to meet the requirements for admission.”

T H I S D AY ˾ WEDNESDAY, JUNE 26, 2018

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EDUCATION

Adams College Honours UTME Top Scorers Uchechukwu Nnaike It was excitement all the way, as Adams International College, Oshodi, Lagos recently rolled out the drums to celebrate about 78 students who scored 300 and above in this year’s Unified Tertiary Matriculation Examination (UTME), conducted by the Joint Admissions and Matriculation Board (JAMB).

So amidst cheers from family members and friends, each of the exceptional student was called up for recognition in what has become an annual event by the tutorial centre to honour top scorers among the candidates that it prepared for the examination.

In his remarks, the Chairman of the College, Mr. Adams Adebola,

commended the students for their unwavering resolve to excel given the “determined resolve of JAMB to subject this year’s performances to an unusually painstaking scrutiny.”

According to him, “in 2018, the college celebrated a total of 86 students who stood out in the examination and not just that, the Almighty crowned our effort by translating the high scores to university admissions, which happen to be the ultimate goal.

“We were privileged to have not less than 201 of our students that got matriculated in the University of Lagos alone. This is how the admission fovoured our school in all the universities across the country.”

This year, he said apart from

the 78 candidates that scored 300 and above, “we have many, too numerous to count who scored between 275 and 290.”

While congratulating the students, Adams commended the “unflinching resilient teachers of the school” and enjoined all to be fervent in hard work because it pays.

“Our effort has been appreciated by various institutions. This year alone, we bagged the National Association of Nigerian Students (NANS) 2019 Award of Excellence in Outstanding Leadership. We also bagged the Southwest Nigeria Education Awards as the Outstanding Tutorial Centre of the Year 2019.

“On our part, we also indulge ourselves in giving back to the

society in form of scholarships to deserving indigent students and boosting the morale of the special people in our community,” he said.

Some of the awardees, who spoke with THISDAY, commended Adams for personally teaching them Physics and Mathematics and for working hard to ensure that they covered the syllabus.

They said their monthly mock examination they took at the centre also helped to prepare them for the UTME. Miss Toluwalope Ishola, who scored 339 and hopes to study medicine at the University of Ibadan, described the college as a tutorial centre that stands out.

She said Adams ensured the total well being and development of the students.

R-L: The Assistant Secretary-General, Old Grammarians’ Society (OGS), Tosin Oyenusi; the Publicity Secretary, Sola Solanke; Secretary General, Prince Olaseni Ogungbadero; President, Olu Vincent; first Vice-President, Dr. Bunmi Enigbokan; and second Vice-President, Dr. Dipo Arigbede, during the inauguration of the elected OGS officers as part of the 160th founder’s day of the CMS Grammar School in Lagos... recently

Olashore Emphasises Skills Devt for Nigerian Youths, Marks Silver Jubilee Funmi Ogundare The Chairman, Board of Governors, Olashore International School, Osun State, Prince Abimbola Olashore has stressed the need for the country to deemphasise certificate acquisition and dwell more on skills and competence.

Olashore, who made this known recently while briefing journalists on the school’s 25th anniversary lecture and gala night in Lagos, expressed concern that the country seems to have gotten it wrong in that direction, adding that there is no linkage between the university system and the industry.

“There is overemphasis on university degree certificates in Nigeria. We have got it totally wrong because everybody is aspiring to getting a university degree.

We have a national problem in our hands, universities are reacting to demand and there is no linkage between the university system and industry requirements. How many universities have asked what the industry requires? We are now producing so many graduates.

How useful is what you have gained in the university for you to be able to earn from?”

He also bemoaned the problem of leadership in Africa, saying that there is little or no investment in

developing leaders.

“The focus appears to be on tackling the results of years of poor leadership in Africa instead of developing entrepreneurs, innovators and leaders that will provide lasting solutions to the root cause of Africa’s problem.”

Emphasising on its 25 years of existence as a school, the chairman said aside instilling core values into its students and providing outstanding academic and extracurricular opportunities, the school also incorporates the development of core 21st century competencies such as critical thinking and problem solving, collaboration and communication,

creativity and imagination, digital literacy, among others into all activities.

These set of skills, Olashore noted would enhance leadership competence in individuals that will impact positively on their society.

“It describes leadership as a purposeful, collaborative, value driven process as opposed to a position. This forms the bases of the bespoke leadership programme at Olashore International School.

“Our students use the leadership skills they have developed to implement projects that transform life inside the school and in the local community. As a school, our mandate is clear

Principal Harps on Grassroots Devt of Volleyball, Handball

The Principal, Queen’s College, Lagos, Tokumbo YakubuOyinloye, has called on corporate organsations to partner more with institutions in thee development of sports, especially volleyball and handball.

Yakubu-Oyinloye said this in Lagos, during the finals of the 2019 GTB Masters Cup, Season Eight. The football competition was between two Lagos-based teams, the defending champions, Queen’s College and Leadford College.

According to her, there are many sporting activities waiting to be developed at the grassroots

level, adding that it is time for more corporate organisations to see how they could bring them to limelight.

“Often times, we see support coming in the areas of football and basketball, but I feel there should be a spread in an effort to showcase and discover abundant skills in our students.

“We should start encouraging other sports to grow at the grassroots level in a bid to have well-developed all-round students who can represent this country one day at the global level and make a living out of it,” she said.

On the football competition that

ended 1-0 in favour of Leadford College, the principal said Queens College remains a formidable team. “We came to this game as the defending champions. We have actually won the game six times back-to-back. But we are hopeful that we will claim our rightful position in the next edition of this competition because Queen’s College is champion and we will always remain champion in female football at the secondary schools level.

“This time around, we came second with prize money of N500,000. We will always recognise that we are a better

opponent and as a result, many people are chasing after us.

“Women generally are beginning to do a lot of what their male counterparts are doing; today we have women pilot, astraunuts and other life’s endeavour that were hitherto percieved as being exclusively meant for the men folk.

“It is the same thing we are experiencing now with female football. It is not just using this kind of sporting activity to build the body physically and create mental alertness, but it is a means of fostering camaderieship among students”, she said.

A Child’s Mind Scope!

“The scope of a child’s mind, its repertoire of language and the nuances of language is limited. Teachers, parents and the environments in which growth occurs all contribute to the development of any child’s mind”.

It appears that there are too many issues that children are prematurely privy of nowadays! Parents seem to be less careful to conceal what they discuss, explore and experience in the presence of their children. He wet the bed.

Consequently, children immaturely handle much information to the shame, embarrassment and oftentimes downfall of their parents or in extreme cases, their family.

As you know, information that is moulded by experience and maturity produces stability, order, consolidation, progress and dignity.

“Your daddy wets the bed?” asked a child who could not be more than nine years old. “Yes he does, he has diabetes and says that’s why!” “Adults don’t wet the bed, that’s disgraceful!” countered the other boy.

Oh, yes! Some adults wet the bed and no, it is not disgraceful. It is however a frustrating medical condition that can damage an individual’s emotional wellbeing and exclude them socially. In America, as by the National Association for Continence, 42 million America adults are affected by bedwetting and nocturnal enuresis (bedwetting at night). In the UK, bedwetting affects about 1 in 100 people, mainly men. More than 100,000 teenagers in the UK wet the bed, some occasionally while others develop nightly. Some adults have been wetting the bed since childhood while others develop the problem during adulthood. Bedwetting in adults is usually treatable and can be caused by a number of reasons including physical injuries, medication, surgery, weak pelvic floor muscles and genetics. Adults who wet the bed at night often have problems in the daytime as well. You may find many of them having to rush to the toilet urgently.

More specific causes of nocturnal enuresis are: Poor bladder control where there is a lack of the necessary muscle and nerve control. A tendency to produce a lot of Urine at night.

Urine infection (for recent starters) - A urine infection can irritate the bladder and make it more difficult to hold urine.

Alcohol, coffee, tea and diuretic medication- Diuretics are medications that are used to treat high blood pressure and some heart problems. They encourage the kidneys to make more urine. The listed beverages have a similar effect. It’s best to avoid drinking them for at least three hours before going to bed.

Sleeping tablets: These may make the individual sleep so soundly that they do not wake up when the bladder is full.

Diabetes: In diabetes, the blood sugar is too high, the kidneys rise to the rescue and try to lower the sugar by making lots of sugary urine. Diabetics tend to pass more urine day and night. They are also usually thirsty.

Emotional Stress and Anxiety.

Other conditions such as the expansion of the prostate glands, neurological problems and sleep apnoea can result in bedwetting.

A change will happen with diligence! What you can do: Do not blame yourself or feel guilty and dirty. Resolve to work diligently at resolving your problem.

Monitor your fluid intake: Try limiting your fluid intake a few hours before bed.

Cut down on alcohol and avoid drinking caffeinated and carbonated fluids at night.

Set an alarm clock to wake you two hours into bed time and a couple of hours before your usual waking time. Completely empty your bladder before going to bed. Frequent urination during the day, caused by an overactive bladder can carry over into night time bedwetting in adults.

Retain your bladder by gradually increasing your bladder’s capacity. You could start by emptying your bladder every hour throughout the day and resist the urge when you are not scheduled to go. Gradually increase the time interval between toilet breaks as you regain bladder control.

Change your bed. Some people have found that sleeping in a different bed, moving to a different room or even just moving their bed into a different position helps.

Stay dry by using absorbent undergarments, incontinent pads and beddings.

See a doctor- For a fortnight or more before you do so, keep a diary detailing when you wet the bed. This information will help the doctor in his recommendation and prescription. Beware of how and when you discuss this kind of issues with your children.

WEDNESDAY JUNE 26, 2019 • T H I S D AY

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T H I S D AY ˾ WEDNESDAY JUNE 26, 2019

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CITYSTRINGS

Rural dwellers in joyful mood during the commissioning of Elewuro Village water project in Surulere, LGA

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325

Walk against Cultism and Drug Abuse by members of PCRC, NPP, students, and Lagos State Police Anti-The first water project embarked upon by GAI and commissioned at Ago-Oja village, Asa LGA, Kwara State

Making Life Better for Rural Communities The Gassroots Aid Initiative is bent on making life better for rural communities, Hammed Shittu in Ilorin reports

I

t is no gainsaying that government at all levels alone cannot meet the needs of rural dwellers and it is on this premise that a non governmental organisation(NGO) called Grassroots Aid Initiative (GAI) based in Kwara State has taken upon itself to complement the government efforts at addressing the challenge of rural dwellers through the provision of water supply.

Water is life so says an adage. It is a means of cleanliness to God in view of its usage in the day to day spiritual attainment. Without water, life is meaningless as all our daily activities revolve around water and that is why every human being takes usage of water so important in the articulation of the needs of the human development and growth.

Although, every level of government be it local, state and federal has taken a giant stride at ensuring water is made available at homes of individuals in the society but this gesture is yet to manifest in all its desires.

This is because the most vulnerable segment of the society that is rural communities that need potable water has been totally neglected and thus making them exposed to various kinds of challenges especially in the areas of health and empowerment.

However, piqued by this ugly development among the teeming populace of the rural communities in the country especially the people of Kwara and Oyo states, GAI was born in Kwara to ensure the better living of the rural communities in the provision of potable water to various homes of communities in the state.

The NGO which was formed almost two years ago in the state has toured over 100 communities to ascertain their challenges and sort out the way to make life more meaningful to the people of the grassroots.

The organisation which also moved around, discovered that problems of water has become a major challenge in the various communities in the state and takes the bull by the horns to make contact with well to do in the society so as to garner funds for the provision of water to the affected communities in the state.

Strategy The organisation used the social media like whatsapp, instagram, facebook among others to reach out to the many philanthropists in the society by placing out the problems of the affected communities on these social networks and upon that made many respond and rise to the needs of the affected rural communities by donating their widow’s mite towards the upliftment of such communities in the state.

And by that strategy, many communities have

GAI Coordinator, Dr. Kehinde Kadijat Kadir

had access to potable water and even houses in the state.

Apart from this, the NGO makes use of pictures taken of the bad condition of the rural communities and post them into these social media networks so as to draw attention of members of the public and upon such, the feelings and yearnings of the communities always have empathy and thus prompt them for support towards bringing new lease of life to the members of the rural communities in the state.

Initiator The person behind this laudable project and who is also the coordinator of the NGO is a senior lecturer at Mass Communication department of University of Ilorin, Dr. (Mrs.) Kehinde Kadijat Kadir popularly called KKK. The woman who teaches photography in the Mass Communication department has used her various pictures taken to make life more bearable for the socio-economic development of the people of the state.

She has received series of local and international award in its quest using photographs to make life better for the common man in the society.

Motivation Speaking with THISDAY in Ilorin on what motivated her to form the initiative, Dr. Kadir said she was disturbed by seeming total neglect of the rural communities in the country especially in Kwara state where no attention has been made to the rural communities to

bring better living conditions to the life of these grassroots residents.

According to her," it is disheartening that the rural people that are supposed to feel the good governance have been shortchanged by our leaders".

She said the ugly development has continued to weaken the growth of the nation as those that suppose to support and make life bearable have been pushed to a corner.

Kadir stated that the situation also had led many people at the local communities to migrate to urban centers in search of golden fleece and other good things of life.

She stressed that, "the non attendance to these grassroots people have also led many of them to poverty and low standards of living. It is based on these challenges that prompted me to form Grassroots Aid Initiative as a platform to reach out to the rural communities in the state so as to make good difference to their lives.

The coordinator who has organised series of workshop for rural communities, students, women among others on the need to be pragmatic in the commitment to make life bearable to the teeming women said that she has executed borehole projects to ensure potable water for four rural communities in two states.

Funding She said the fund for execution of the borehole water projects, including some of its other programmes in Kwara and Oyo states were sourced from donors through social media advocacy.

The coordinator said the water projects were sited at Ago-Oja, Asa Local Government, Kwara state and commissioned in May, 2017, Asileke community, Surulere LGA, Oyo state, and Elewuro community, also in theSurulere LGA, Oyo state.

She said that the fourth project is ongoing, adding that it is located at Aiyekale village, Orire LGA, Oyo state.

Noting that water problem is the greatest challenge among rural dwellers, she lamented that government had not done enogh to address it.

Vision "We want to position and brand the NGO as water solution NGO. We want to concentrate on water provision, especially in our rural communities.

"That's the vision now. We realise that water is a very big problem among rural dwellers, yet the government is not paying necessary attention. During our feasibility study visits to these rural areas, you see girls going about looking for water during school hours", she

said.

On how she gets assistance for the water projects, she said she always put rural water challenge in a particular community on social media platforms, convince people on the problems and solicit for funds from people.

"We have been able to build three water projects. We are on the fourth project, which we hope to complete before the end of Ramadan at Ayekale village, Oyo state. We also believe we'll do another one before the end of the year.”

Challenges "Among challenges in our rural communities, water problem is the greatest challenge. When water problem is solved they can manage to adapt to other infrastructural challenges as in roads etc, because water provision would discourage health problems and encourage empowerment. Water is at the centre of everything. Water is life.

"For instance, in Ayekale village, the women use almost 80 per cent of water in production of locust beans. The only way to do this is through use of dirty water in the community.

Interestingly, this locust beans is not meant for consumption of only the immediate community but for people who live far and near. So, the problem in the village could be transfered to people in the cities", she said.

Kadir who said that the NGO had also been able to build a modest house for an aged woman, added that the organisation also effected payment of school fees for children from poor homes in various rural communities in the state.

Empowerment Summit On the NGO’s recent empowerment summit for school students, she said one needs more than education in this present time to ensure better living, adding that self confidence and soft skills would help one to excel.

She charged parents to promote self confidence and soft skills among girls by assigning general household chores to them rather than assigning specific feminine chores.

"For instance, when a girl chooses to study engineering courses in university, the society would disparage saying it's a male field.

Why not nursing or food science? We live in a patriachal society, where man is seen as being supreme and head and women submissive. All these affect self efficacy of girls in life.

"We need not wait till girl child grows up to be adults to start preaching these soft skills. A girl child is enough, you don't necessarily need to be a man to achieve in life. Once you believe in yourself, you can achieve your set goals in life.

So, we are trying as much as we can to break that stereotype in the society", she said.

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JUNE 26, 2019 Ëž W E D N E S DAY

CRIME&SECURITY

CRIME SITUATION REPORTS

TIPS FOR RECOGNISING SUICIDAL BEHAVIOUR (I)

Walk against Cultism and Drug Abuse by members of PCRC, NPP, students, and Lagos State Police Anti-Cultism Unit

PCRC Partners NPP, Others on Campaign against Drug Abuse, Cultism Sunday Ehigiator Police Community Relations Committee (PCRC) in conjunction with the Nigeria Policing Programme (NPP), Lagos State Police AntiCultism Unit, and secondary schools around Ikeja area, recently embarked on a walk against the spread of cultism and drug abuse in the state.

The five kilometers walk began from Ikeja Club through to the Lagos State Police Headquarters in Ikeja, where they were received by the state’s Commissioner of Police, CP Zubairu Muazu.

The walk was targeted at sensitising primary and secondary school children, youth, artisans, students, parents, and the Nigerian populace at large on the adverse effects of cultism and drugs to the human wellbeing, country’s economy, and its global image.

Speaking with THISDAY, the PCRC State Chairman, Mr. Kehinde Showemimo said it is important that the community realises that police can’t solve the problem

of cultism and drug abuse alone, but with the combined efforts of all stakeholders of the country including the citizens.

According to him, “let us stop blaming the police for the increase in cultism. If we do, what then do we say of the fathers, mothers, artisans and other stakeholders who are supposed to be equally responsible for curbing this but aren’t helping matters, as some of them are actually involved in the act. “The Lagos State Police Anti-Cultism department are really doing a lot to curb cultism and I must commend them for that. But we all need to come together and stop these menace, and that is the essence of this walk. Let us all support the police and with God, we will defeat cultism and drug abuse.�

Also speaking, the Officer in Charge, Lagos state Police Anti-Cultism Unit, Mr. Emmanuel Etuk said, “The spread of cultism before now used to be restricted to higher institutions. But as we speak, it is no longer so.

“Artisans in the community, members of trade unions, apprentices, even those that are self-employed in one business or the other have been lured into cultism. “However, with the establishment of Anti-cultism/ Kidnapping Unit in Lagos, we have been able to contain the situation to a large extent and are trying to roll back and make cultism unattractive to youth. “But the police can’t do this alone. And that is why with this walk, we are calling the attention of every Nigerian to these menace and asking them to support us in rolling back the tide and make cultism and drug abuse unattractive to youths so they can be eradicated. “So far, we have over 800 cases relating to cultism already settled by the court of law in Lagos state, and several others still pending in court. But then, our doors of grace are opened for repentant cultists who come out themselves for mercy. “Because they may have been forced into it, and we are

ready to take them through the process of rehabilitation and integration back into the society if they so surrender, otherwise, there is no hiding place for them in Lagos State.�

Speaking on behalf of the Lagos CP, who was represented by DC Operations, DCP Mohammed Ali and the Police Public Relations Officer, DSP Bala Elkana, the command said, “If we solve the problem of cultism, we have solved over half of the issues relating to crime in Lagos State.�

DCP Ali further noted that, “there is a huge relationship between drug abuse and cultism. The crime cultists propagate in the society couldn’t have being carried out without an undertone of drug abuse. They induced themselves to a level that they no longer have human sympathy before going out to commit such atrocities. But we all must come together to tackle this and not leave the police alone to it. Together we can defeat cultism and drug abuse.�

Delta Police Descends on Illegally ReďŹ ned Diesel Marketers

Sylvester Idowu in Warri

The Warri Area Command of the Nigeria Police has destroyed an unquantified Automotive Gasoline Oil (AGO) and Kerosene suspected to be illegally refined in Mason community in Warri South Local Government Area of Delta.

The Warri Area Commander, Mohammed Garba, an Assistant Commissioner of Police (ACP), led a team of police officers in the well coordinated operation that lasted for several hours.

During the operations,

more than 5,150 drums containing illegally refined diesel and kerosene were destroyed although no suspects were apprehended.

The products were loaded in drums, jerricans and sacks while some were inside a wooden boat awaiting to be offloaded.

Garba, who assumed office about three weeks ago, said the action was a sound warning to perpetrators, just as he disclosed that he acted based on tip off that some elements were sabotaging the federal government through illegal bunkering in the area.

“I received information from that I should come and see the place. The information was true that some people are sabotaging federal government by doing illegal bunkering. This is a sound warning to them, I am here to work for the federal government and I will not comprise illegal bunkering. “I will make it uncomfortable for them, they must desist from the illicit business,� he said and warned his officers against compromising, noting that anyone caught would face the full weight of the law.

“The police will take action against any officer that compromise. They should work as police officers. Of course, I do not think a sensible police officer will be a party to illegal bunkering. It is drizzling and I am here to perform my duty as a police officer. It is going to be a continuous exercise,� he said.

The police team had earlier moved to Ubeji community also in Warri South where an empty large wooden boat popularly called Cotonou boat was discovered under the bridge.

Suicide, a conscious act of intentionally taking one’s own life, can come in many forms. For example, by hanging, shooting, stabbing, jumping from a hill top, high rise buildings, telecommunication masts, running into a path way of a moving vehicle, and through the use of substances such as gammalin, sniper, acid, codeine, tramadol etc. Although, discussing suicide can be a very touchy and highly sensitive issue, it is fast becoming one of the most leading causes of death in many societies and Nigeria is not an exception. A number of factors account for this worrying trend. Some of these include: financial difficulty/debt, terminal illness, mental disorder, relationship issues/rejection by a loved one, chronic pain, loneliness, traumatic experiences arising from, e.g bullying, sexual and physical abuse, substances abuse, etc.

The intention of “Frankmba.ng� therefore is to inspire hope and make them understand that suicide is not a solution to life problems.

In what follows, the blog will provide you in Part 1, of this topic: Tips for recognising the warning signs for suicide and suicidal behavior. Part 2 and 3, would be devoted to tips to overcome thoughts about ending your life and tips towards helping someone to overcome suicidal thoughts respectively. The continuation of the tips include: r 4UBSJOH JOUP TQBDF r #FDPNJOH VOVTVBMMZ GBTDJOBUFE XJUI XBUFS sources, bridges, narcotics, alcohol etc. r 3VOOJOH JOUP NPWJOH WFIJDMFT r +VNQJOH GSPN IJMM UPQT IJHI SJTF CVJMEJOHT telecommunication masts etc. r %JTà HVSJOH UIF CPEZ UISPVHI TDSBUDIJOH DVUUJOH marking, hitting himself with stick etc. r (PJOH BHBJOTU EPDUPS T QSFTDSJQUJPO TVDI BT UBLing overdose of drugs or not taking at all indicating that the person no longer values his or her life. r 3FTPSU UP VTF PG ESVHT BOE BMDPIPM UP HFU IJHI numb pains, succumb to peer pressures. Unfortunately, overdosing is quite prevalent amongst users and these can lead to complications or even death. r 4VEEFO BOE FGGVTJWF DBMMT WJTJUBUJPO UP GBNJMZ members and friends. This might be their own way of saying final goodbye to all his loved ones before taking his own life. Other acts that may also signpost the individual’s resolve to take his or her life include: r 4VEEFO HJWJOH BXBZ PG QFSTPOBM QPTTFTTJPOT r "TLJOH GPS GPSHJWFOFTT FWFO XIFO ZPV DBOOPU explain the reason for such request. r .BLJOH TPCFS TUBUFNFOUT MJLF iUBLF DBSF PG NZ children, parents, husband, wife� etc. r 4VEEFO XSJUJOH PG XJMM 4PNF QFPQMF XJMM XSJUF B note before committing suicide.

When you see or notice any of these signs, better attention should be paid to the person and all the necessary support provided. “If you see or notice something, do something�! t $VMMFE GSPN GSBOLNCB OH

DCP Frank Mba

38

T H I S D AY ˞ ˜ Ͱʹ˜ 2019

BUSINESS/MONEYGUIDE

Nigeria’s Manufacturing Expands for 27th Consecutive Month Nume Ekeghe The Manufacturing Purchasing Managers’ Index (PMI) stood at 57.4 index points in the month of June, indicating an expansion in the manufacturing sector for 27 consecutive months.

The Central Bank of Nigeria (CBN), revealed said this in its monthly PMI Survey Report posted on its website yesterday.

The report showed that the index grew at a slower rate when compared to the index points recorded in the preceding month.

It added: “The Manufacturing PMI in the month of June stood at 57.4 index points, indicating expansion in the manufacturing sector for the 27thconsecutive month. The index grew at a slower rate when compared to the index in the previous month. “ Of the 14 sub-sectors surveyed, 12 reported growth in the review month in the following order: transportation

equipment; petroleum & coal products; cement; chemical & pharmaceutical products; electrical equipment; food, beverage & tobacco products; printing & related support activities; fabricated metal products; paper products; furniture & related products; textile, apparel, leather & footwear; and plastics & rubber products. It also stated: “At 59.3 points, the production level index for the manufacturing sector grew for the twenty-eighth consecutive month in June 2019.

The index indicated a faster growth in the current month, when compared to its level in the month of May 2019. Twelve of the 14 manufacturing sub-sectors recorded increased production level, 1 remained unchanged while one recorded decline.�

It further stated that the non-metallic mineral products and primary metal subsectors recorded decline in the review period. “The composite PMI for the

nonmanufacturing sector stood at 58.6 points in June 2019, indicating expansion in the Non-manufacturing PMI for the twenty-sixth consecutive month.

The index grew at a slower rate when compared to its level in May 2019,� it added.

In all 16 of the 17 surveyed sub-sectors recorded growth in the following order: water supply, sewage & waste management; arts, entertainment & recreation; repair, maintenance/washing of motor vehicles; electricity, gas, steam & air conditioning supply; utilities; information & communication; transportation & warehousing; real estate rental & leasing; construction; health care & social assistance; finance & insurance; wholesale/retail trade; accommodation & food services; agriculture; educational services; and professional, scientific, & technical services. The management of companies subsector recorded decline in the review period.

Startimes Says Investment in Nigeria Now $200m James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË The Chief Executive, StarTimes Nigeria, Mr. David Zhang, has disclosed that its total investment in the country since the launch of its operations in 2010, currently stands at $220 million.

He said the company had further paid a total of $25 million in taxes to the Nigerian government as well as recruited over 1,000 local staff, 97 per cent of whom are Nigerians.

Speaking at the second Chinese Film Festival in Abuja, he added that the company had also indirectly employed tens of thousands of people in various fields including marketing, technology, accounting, logistics and customer services.

Zhang, said the company had also developed a network of nearly 3,000 distributors in the country with currently over four million subscribers- actively involved in corporate social responsibility. He said:�We have made our due contribution to the popularisation of digital TV and economic development in

Nigeria.�

This is as the federal government described China as a “committed partner, a dependable ally and a friend in need and indeed.�

Speaking at the occasion, the Permanent Secretary, Federal Ministry of Information and Culture, Grace Isu Gekpe said cultural cooperation between both countries had been increasing in leaps and bounds in recent years.

According to her, the bilateral relations between Nigeria and China dates back to 50 years and was enhanced by the signing of the cultural and educational agreements in March 1990.

She said the three decades of cultural cooperation had witnessed several cultural activities and exchanges in the spheres of business, arts, music, dance exhibition, cultural administration, capacity building among others.

The PS further assured the Chinese embassy in Nigeria that the federal government will continue to explore ways

and means of expanding bilateral cultural ties with China within the framework of the recently signed protocol on the implementation of cultural cooperation and exchanges signed in Beijing, China last year.

She said:�The high level visits of officials and experts at various times gives credence to this mutually and productive relations. “Chinese films has been a regular feature especially in our commercial cinema houses and is watched and enjoyed by the various strata of the Nigerian society. “I remember with nostalgia, the 1990s when the Chinese film week was an annual programme at the Nigerian National Theater, Iganmu, Lagos. The halls were fully packed full as every young man aspired to be the “Bruce Lee� of Nigeria. “On the flip side, I am elated to know that the Nigerian film industry, popularly referred to as Nollywood has equally arrived at the global arena and rated today as the second largest film industry in the world.

L-R: Programme Coordinator, Oshodi/Isolo Local Government Vocational Education and Training Centre/Book Reviewer, Mr. Babatunde Ogundiran; CEO, Toyyibah Associates Limited, Mr. Haroun Oyero, and a Digital Financial Solution Expert, Kunle Isiaka, during the launch of a book that was authored by Oyero, held in Lagos...recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

NOVEMBER 2018 Money Supply (M3)

31,794,803.44

-- CBN Bills Held by Money Holding Sectors

6,333,064.28

Money Supply (M2)

25,461,739.17

-- Quasi Money

14,773,076.98

-- Narrow Money (M1)

10,688,662.18

---- Currency Outside Banks

1,711,763.59

---- Demand Deposits

8,976,898.59

Net Foreign Assets (NFA)

18,990,400.78

Net Domestic Assets(NDA)

12,804,402.66

-- Net Domestic Credit (NDC)

26,062,986.22

---- Credit to Government (Net)

2,980,229.66

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

7,093,619.43

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

-4,144,571.43

---- Credit to Private Sector (CPS)

23,082,756.56

--Other Assets Net

13,258,583.57

Reserve Money (Base Money

6,811,192.37

--Currency in Circulation

2,100,129.91

--Banks Reserves

4,366,259.05

Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR)

Sahara Group Canvasses More Investment in Africa’s E&P Business Oil and Gas businesses in Africa need to intensify exploration efforts to guarantee reserve replacement and enhanced capacity to meet growing demand and global competition, the Managing Director, Asharami Energy (A Sahara Group Upstream Company), Olajumoke Ajayi, told participants at the Oil and Gas Council’s Africa Assembly in Paris.

According to a statement, Ajayi noted that Africa’s large volumes of undiscovered oil and gas make the continent a veritable frontier for investment, adding that operators need to adopt new technology, explore alternative cost saving measures, ensure sustainable community relations, and build diverse multidisciplinary teams to ensure successful exploration projects.

In her presentation, “Renewing Players Commitment to Exploration and the Importance of Community Engagement in Capital Intensive Projects�, she cited the downturn in global oil prices and the corresponding negative effect on investor funds and returns as factors that had made a good number of Exploration and Production (E&P) companies in Africa cut down on investments, delay Final Investment Decision (FID) or totally stop embarking on new capital projects. “Consequently, producing companies continue to pump oil from operated mature fields thereby depleting existing reserves with non-corresponding efforts for reserve replacement via new exploration discoveries. The big question remains whether or

not E&P players should commit to exploration and how players can justify this commitment in the face of lower oil prices,� she stated. According to Ajayi, the compelling case for the relevance of hydrocarbons in the future, in addition to huge investments on new technology, responsible and intentional community engagement will play a significant role in creating a stable and conducive environment for exploration and production. “Sahara Group’s exploration success story is being driven by a combination of technology, innovation and community management expertise.

At Sahara, we are intentionally committed to creating a sustainable balance between our projects and host communities to ensure the creation of shared value for all stakeholders.�

Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

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

OPEC DAILY BASKET PRICE Ëœ ͰͲ Ͱ͎ͯ͡

The price of OPEC basket of fourteen crudes stood at $65.05 a barrel on Monday, compared with $65.29 the previous Friday, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela) SOURCE: OPEC headquarters, Vienna

39

T H I S D AY Ëž Ëœ Í°Í´Ëœ Ͱ͎ͯ͡

MARKET NEWS

Forte Oil New CEO Assures Stakeholders of Better Performance Goddy Egene The new Chief Executive Officer of Forte Oil Plc, Mr. Olumide Adeosun yesterday assured stakeholders that the petroleum marketing firm will remain listed on the Nigerian Stock Exchange and would not buy out the minority shareholders.

Adeosun, spoke against the background of apprehension that following the entry of new investors who bought

over shares divested by Femi Otedola, the new majority investor may buy out the minority shareholders and delist from the exchange.

Speaking on the future plans for the company, the new CEO said the new owners were in for long term investment and wanted every stockholder to hold his or her shares. “Our message to our minority shareholders is that we are going to sustain the business here, we want people to retain their

P R I C E S MAIN BOARD

F O R DEALS

shares in this company. Our views and our desires is that people who are stockholders of this company continue to remain stockholders of this company and benefit from the dividend we hope to deliver over time,�he said.

According to him, the company has put together a strong board made up of professionals that would take the company to the next level.

On the brand, he said Forte Oil brand will remain in place

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

pending when they decide to change it, emphasising that there would be a rebranding in future to reflect the new structure. He said the company’s strategic future focus would be on people, customers, shareholders and corporate governance.

Adeosun said that the company would focus on increasing volumes, diversifying business operations, widening distribution networks and extracting potential synergies

T R A D E D MAIN BOARD

A S

to boost revenue. According to him, the company would also invest massively in the downstream sector to achieve desired growth. He said that despite the regulated price of petrol product in the country, Forte Oil would still break even in other petroleum products in the downstream sub-sector.

The Forte Oil boss said that the company was also investing in Liquefied Petroleum Gas (LPG) through partnership with Prudent Energy on 6,000

O F

metric tonnes which is expected to commence in July. “We have about 800 metric tonnes storage facility in Apapa that will ease products distribution across the country,� he added. Forte Oil operates in the downstream sector of the oil and gas industry as a foremost indigenous petroleum marketing company with a strategic network of over 500 retail outlets in the 36 states of Nigeria and the capital city of Abuja.

2 0 / 0 6 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

40

Ëž WEDNESDAY, JUNE 26, 2019

Wednesday, June 26, 2019 Thisday Afrinvest 40 Index Declines 60bps

THISDAY AFRINVEST 40 INDEX

Yesterday, the Thisday Afrinvest 40 Index declined 52bps to Ć?ĞƊůĞ Ä‚Ćš Ď­Í•ĎŽĎľĎ´Í˜Ď°ĎŹ ĚƾĞ ƚŽ Ć?Ğůů-ŽčĆ? Ĺ?Ĺś GUARANTY (-Ď­Í˜Ď˛ĐšÍżÍ• ZENITHBANK (-ĎŹÍ˜ĎŻĐšÍż ĂŜĚ NIGERIAN BREWERIES (-ĎŹÍ˜ĎľĐšÍżÍ˜

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

dŚĞĆ?Äž Ć?ƚŽÄ?ĹŹĆ? Ä?ƾžƾůĂĆ&#x;ǀĞůLJ Ä‚Ä?Ä?ŽƾŜƚ Ä¨Ĺ˝ĆŒ ĎŻĎ˛Í˜ĎŻĐš ŽĨ ƚŚĞ Ĺ?ĹśÄšÄžÇ†Í˜

Ć‹ĆľĹ?Ć&#x;ÄžĆ? DÄ‚ĆŒĹŹÄžĆš ĹŻĹ˝Ć?ÄžĆ? ŽŜ Ä‚ ÄžÄ‚ĆŒĹ?Ć?Ĺš EĹ˝ĆšÄžÍ˜Í™ ASI Plunges 47bps

Ticker

Current Price

THISDAY AFRINVEST 40

ROE

ROA

Divindend Earnings Yield Yield

-0.52%

-11.5%

29.9%

17.3%

5.7%

4.9x

0.7x

6.4%

-1.6%

19.4%

-11.2%

-11.3%

33.1%

5.3%

4.6x

1.5x

8.9%

21.9%

2 Zenith Bank PLC

19.95

-0.3%

12.2%

-13.4%

-3.8%

24.7%

3.2%

3.4x

0.8x

14.0%

29.8% 12.0%

Dangote Cement PLC

5 Nigerian Brew eries PLC 6 FBN Holdings Plc 7 Cement Co Northern Nigeria PLC

184.00

0.0%

9.9%

-3.0%

-1.1%

40.1%

21.8%

8.3x

3.0x

8.7%

0.0%

8.7%

-5.8%

-5.1%

81.2%

27.4%

23.5x

17.6x

4.3%

4.3%

58.00

-0.9%

4.7%

-32.2%

-24.2%

9.5%

4.4%

26.6x

2.7x

4.2%

3.8%

6.90

-0.7%

5.2%

-13.2%

-13.8%

10.0%

1.1%

4.1x

0.5x

3.8%

24.2%

13.30

9.5%

3.5%

-31.4%

-31.4%

4.7%

4.3%

3.9x

0.5x

3.0%

25.9%

2.6x

0.4x

13.8%

38.3%

0.5x

3.6%

20.8%

7.5%

8 United Bank for Africa PLC

6.15

-3.9%

4.0%

-20.1%

-21.2%

15.5%

1.7%

SOUVRENINS CCNN DQG

9 International Brew eries PLC

16.70

0.0%

2.2%

-45.2%

-47.0%

-23.8%

-3.2%

495.00

-2.9%

3.1%

-22.7%

-20.3%

10.1%

6.3%

10 SEPLAT Petroleum Development C 11 Access Bank PLC

NEM DQG PRESTIGE 12 Ecobank Transnational Inc ZHUH WKH ZRUVW SHUIRUPLQJ VWRFNV :H PDLQWDLQ RXU 13 Stanbic IBTC Holdings PLC

16.2%

1,399.20

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EHDULVK RXWORRN RQ WKH HTXLWLHV PDUNHW LQ WKH

P/BV

30.60

Nestle Nigeria PLC

CHAMPION &RQYHUVHO\ FORTE

P/E

1,298.51

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1 Guaranty Trust Bank PLC

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Price Previous Current Change Price Weightin YTD Change g

4.1x 4.8x

6.60

0.0%

3.7%

-2.9%

1.5%

22.2%

2.1%

1.7x

0.4x

10.25

0.0%

2.4%

-26.8%

-28.3%

15.3%

1.2%

2.9x

0.5x

-2.1%

59.5% 34.7%

40.00

-1.6%

2.5%

-16.6%

-13.8%

30.3%

4.6%

6.0x

1.6x

3.8%

14 Unilever Nigeria PLC

32.00

0.0%

2.4%

-13.5%

-13.5%

12.7%

7.7%

17.9x

2.2x

4.7%

15 Lafarge Africa PLC

11.55

-3.8%

1.8%

-7.2%

-3.8%

-6.3%

-1.6%

0.7x

16.7% 5.6% -8.8%

DEVHQFH RI DQ\ VWLPXOXV WR VSXU LQYHVWRU 16 Guinness Nigeria PLC

47.55

2.0%

1.0%

-34.0%

-34.0%

6.8%

3.7%

15.9x

1.2x

3.9%

6.3%

VHQWLPHQW ÄšĹ?ĹśĹ? Ć?ÄžĆ?Ć?Ĺ?ŽŜ͕ Ć‰ĆŒĹ?Ä?Äž ÄšÄžĆ‰ĆŒÄžÄ?Ĺ?Ä‚Ć&#x;ŽŜ Ĺ?Ĺś GUARANTY (-

66.60

0.0%

1.3%

-12.6%

-12.6%

21.0%

16.0%

10.5x

2.2x

4.5%

9.5%

17 Okomu Oil Palm PLC 18 Total Nigeria PLC

150.00

0.0%

Ď­Í˜Ď˛ĐšÍżÍ• SEPLAT (-ĎŽÍ˜ĎľĐšÍż ĂŜĚ UBA (-ĎŻÍ˜ĎľĐšÍż ƉƾůůĞĚ ƚŚĞ Ä?ĞŜÄ?ĹšĹľÄ‚ĆŒĹŹ

1.1%

-26.1%

-26.1%

19.3%

4.5%

8.8x

1.7x

11.6%

11.4%

19 11 PLC

170.00

0.0%

1.3%

-8.4%

-8.4%

38.0%

16.8%

7.1x

1.9x

4.9%

14.1%

Ĺ?ŜĚĞdž Ď°ĎłÄ?ƉĆ? ĹŻĹ˝Ç ÄžĆŒ ƚŽ ĎŽĎľÍ•Ď˛Ď˛Ď´Í˜Ďł ƉŽĹ?ŜƚĆ?͘ Ä?Ä?Ĺ˝ĆŒÄšĹ?ĹśĹ?ůLJ͕ zd

20 Flour Mills of Nigeria PLC

14.00

0.0%

0.8%

-39.4%

-36.9%

6.6%

2.0%

6.5x

0.4x

7.1%

4.00

0.0%

1.1%

-20.0%

-16.7%

14.3%

2.5%

1.8x

0.2x

21 Oando PLC

15.4% 55.1%

Ć‰ÄžĆŒÄ¨Ĺ˝ĆŒĹľÄ‚ĹśÄ?Äž Ä¨ĆľĆŒĆšĹšÄžĆŒ ÄšÄžĆšÄžĆŒĹ?Ĺ˝ĆŒÄ‚ĆšÄžÄš ƚŽ -ĎąÍ˜ĎŽĐš Ç ĹšĹ?ĹŻÄž ĹľÄ‚ĆŒĹŹÄžĆš

22 Fidelity Bank PLC

1.72

0.0%

1.1%

-15.3%

-15.3%

12.7%

1.4%

2.1x

0.2x

6.4%

Ä?ĂƉĹ?ƚĂůĹ?Ć?Ä‚Ć&#x;ŽŜ ĚĞÄ?ĹŻĹ?ŜĞĚ Ä?LJ EĎ˛Ď­Í˜ĎľÄ?Ĺś ƚŽ EĎ­ĎŻÍ˜Ď­ĆšĹśÍ˜ ĹŻĆ?Ž͕ Ä‚Ä?Ć&#x;Ç€Ĺ?ƚLJ

23 Transnational Corp of Nigeria

1.14

-1.7%

1.0%

-13.6%

-9.5%

16.4%

3.6%

4.3x

0.7x

2.6%

23.5%

24 Dangote Sugar Refinery PLC

11.35

-0.9%

0.8%

-25.6%

-23.3%

22.3%

12.6%

5.7x

1.3x

9.4%

17.6%

26 FCMB Group Plc

1.61

0.0%

0.6%

-14.8%

-10.6%

8.8%

1.2%

2.0x

27 UAC of Nigeria PLC

6.05

0.0%

0.4%

-37.9%

-36.6%

-7.9%

-3.6%

ůĞǀĞů ĚĞÄ?ĹŻĹ?ŜĞĚ Ä‚Ć? ǀŽůƾžĞ ĂŜĚ ǀĂůƾĞ ĆšĆŒÄ‚ÄšÄžÄš ĨĞůů Ä?LJ ĎąĎąÍ˜ĎąĐš ĂŜĚ ĎąĎľÍ˜ĎłĐš ĆŒÄžĆ?ƉĞÄ?Ć&#x;ǀĞůLJ ƚŽ ĎŽĎąĎŻÍ˜Ď°Ĺľ ƾŜĹ?ĆšĆ? ĂŜĚ EĎ°Í˜Ď­Ä?ĹśÍ˜ dŚĞ žŽĆ?Ćš Ä‚Ä?Ć&#x;ǀĞ Ć?ƚŽÄ?ĹŹĆ? Ä?LJ ǀŽůƾžĞ Ç ÄžĆŒÄž GUARANTY ÍžĎąĎŹÍ˜Ď°Ĺľ ƾŜĹ?ĆšĆ?Ϳ͕

48.7%

25 Diamond Bank PLC 0.2x

8.7%

49.6%

0.3x

10.6%

-32.3%

2.42

-0.4%

0.7%

27.4%

27.4%

9.3%

0.9%

7.5x

0.6x

29 Presco PLC

52.00

0.0%

0.3%

-18.8%

-18.8%

7.3%

4.6%

13.6x

2.0x

3.8%

7.4%

30 NASCON Allied Industries PLC

15.00

0.0%

while GUARANTY ÍžEĎ­Í˜Ď˛Ä?ŜͿ͕ DdEE ÍžEĎ°Ď°Ď°Í˜Ď°ĹľÍżÍ• ZENITHBANK

0.3%

-16.7%

-16.7%

32.2%

12.9%

9.8x

3.2x

6.7%

10.2%

31 Forte Oil PLC

29.00

-9.4%

0.4%

5.6%

3.6%

48.9%

7.4%

ÍžEĎ°Ď°ĎŻÍ˜Ď´ĹľÍż ůĞĚ Ä?LJ Ç€Ä‚ĹŻĆľÄžÍ˜

32 Union Bank of Nigeria PLC

6.90

0.0%

0.4%

23.2%

23.2%

6.6%

1.2%

12.1x

0.9x

33 Julius Berger Nigeria PLC

20.90

0.0%

0.3%

4.0%

-5.4%

19.9%

2.3%

4.2x

0.8x

ZENITHBANK ÍžĎŽĎŽÍ˜ĎŽĹľ ƾŜĹ?ĆšĆ?Íż ĂŜĚ h^dK / E ÍžĎŽĎ­Í˜Ď°Ĺľ ƾŜĹ?ĆšĆ?Íż

28 Sterling Bank PLC

34 PZ Cussons Nigeria PLC

ÄžÄ‚ĆŒĹ?Ć?Ĺš ^ÄžÄ?ĆšĹ˝ĆŒ WÄžĆŒÄ¨Ĺ˝ĆŒĹľÄ‚ĹśÄ?Äž WÄžĆŒÄ¨Ĺ˝ĆŒĹľÄ‚ĹśÄ?Äž Ä‚Ä?ĆŒĹ˝Ć?Ć? Ć?ÄžÄ?ĆšĹ˝ĆŒĆ? Ç Ä‚Ć? Ć‰Ĺ˝Ĺ˝ĆŒ Ä‚Ć? ŽŜůLJ ƚŚĞ /ŜĚƾĆ?ĆšĆŒĹ?Ä‚ĹŻ 'ŽŽĚĆ? ÍžĐ˝ĎŹÍ˜ĎľĐšÍż Ĺ?ŜĚĞdž ŽĨ ƚŚĞ ϲ Ĺ?ŜĚĹ?Ä?ÄžĆ? ĆľĹśÄšÄžĆŒ Ĺ˝ĆľĆŒ Ä?Ĺ˝Ç€ÄžĆŒÄ‚Ĺ?Äž ĆšĆŒÄžĹśÄšÄžÄš ĹśĹ˝ĆŒĆšĹšÇ Ä‚ĆŒÄšĆ? ŽŜ ƚŚĞ Ä?Ä‚Ä?ĹŹ ŽĨ Ć?ĆľÄ?Ć?ƚĂŜĆ&#x;Ä‚ĹŻ Ä?ƾLJĹ?ĹśĹ? Ĺ?ĹśĆšÄžĆŒÄžĆ?Ćš

13.4%

2.2x

-7.2% 8.3% 9.6%

7.10

0.0%

0.2%

-41.3%

-42.3%

0.7x

2.1%

27.50

0.0%

0.2%

-21.1%

-21.1%

68.7%

31.5%

9.3x

5.8x

10.5%

36 Wema Bank PLC

0.66

3.1%

0.2%

4.8%

4.8%

7.3%

0.7%

6.9x

0.5x

4.5%

14.6%

37 Beta Glass PLC

73.70

0.0%

0.2%

7.9%

7.9%

7.1x

1.2x

1.8%

14.0%

38 Dangote Flour Mills Plc

35 Chemical and Allied Products P

17.50

0.3%

0.4%

155.5%

165.2%

-15.8%

-5.1%

39 Transcorp Hotels Plc

5.40

0.0%

0.1%

-11.5%

-9.2%

6.0%

3.2%

12.0x

0.7x

40 AXA Mansard Insurance PLC

1.94

0.0%

0.1%

6.0%

6.0%

11.0%

3.1%

8.5x

0.9x

T o p 10 G a i n e r s

in EE ÍžĐ˝ĎľÍ˜ĎąĐšÍżÍ˜ dŚĞ KĹ?ĹŻ Θ 'Ä‚Ć? ĂŜĚ /ĹśĆ?ĆľĆŒÄ‚ĹśÄ?Äž Ĺ?ŜĚĹ?Ä?ÄžĆ?

2.7x

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

sell-ŽčĆ? Ĺ?Ĺś SEPLAT (-ĎŽÍ˜ĎľĐšÍż ĂŜĚ &KZd (-ĎľÍ˜Ď°ĐšÍż Ä‚Ć? Ç ÄžĹŻĹŻ Ä‚Ć? E D (-

SOVR EN IN S

0.23

9.5%

GUA R A N T Y

50.4

-1.6%

CCNN

13.30

9.5%

Z EN IT H B A N K

22.2

-0.3% -0.8%

P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

Ď´Í˜ĎłĐšÍż ĂŜĚ h^dK / E (-ĎŹÍ˜Ď´ĐšÍżÍ˜ ^Ĺ?ĹľĹ?ĹŻÄ‚ĆŒĹŻÇ‡Í• ƚŚĞ ĂŜŏĹ?ĹśĹ? ĂŜĚ

C H A M P ION

1.69

8.3%

C UST OD IA N

21.4

Afrinvest-/ d Ĺ?ŜĚĹ?Ä?ÄžĆ? ĹŻĹ˝Ć?Ćš Ä‚ Ä?ƾžƾůĂĆ&#x;ǀĞ Ď­Í˜ĎłĐšÍ• ĚĞÄ?ĹŻĹ?ĹśĹ?ĹśĹ? Ä?LJ ĎŹÍ˜ĎľĐš

LIVEST OC K

0.56

5.7%

A C C ESS

20.5

0.0%

J A IZ B A N K

0.47

4.4%

UB A

17.4

-3.9%

A F R IP R UD

3.52

3.2%

C OUR T VILLE

12.4

0.0%

Ď°Í˜Ď°ĐšÍżÍ• UBA (-ĎŻÍ˜ĎľĐšÍż ĂŜĚ ^d E / (-Ď­Í˜Ď˛ĐšÍż Ä‚Ć? Ç ÄžĹŻĹŻ Ä‚Ć? DdEE (-

WEM A B A N K

0.66

3.1%

LA SA C O

10.6

0.0%

ĎŹÍ˜Ď´ĐšÍżÍ˜ dŚĞ ŽŜĆ?ĆľĹľÄžĆŒ 'ŽŽĚĆ? Ĺ?ŜĚĞdž ĹŻĹ˝Ć?Ćš ƚŚĞ ůĞĂĆ?Ćš Ä‚Ć? NIGERIAN

UA C -P R OP

1.55

2.6%

UC A P

7.8

0.4%

M A YB A KER

2.40

2.1%

FB NH

7.5

-0.7%

47.55

2.0%

UA C N

5.9

0.0%

BREWERIES and DANGSUGAR Ć?ŚĞĚ ĎŹÍ˜ĎľĐš ĂƉĹ?ÄžÄ?Ğ͘ ͘

GUIN N ESS

T o p 10 L o s e r s

/ŜǀĞĆ?ĆšĹ˝ĆŒ ^ĞŜĆ&#x;žĞŜƚ tĞĂŏĞŜĆ? /ŜǀĞĆ?ĆšĹ˝ĆŒ Ć?ĞŜĆ&#x;žĞŜƚ Ä‚Ć? žĞĂĆ?ĆľĆŒÄžÄš Ä?LJ ĹľÄ‚ĆŒĹŹÄžĆš Ä?ĆŒÄžÄ‚ÄšĆšĹš ͞ĂĚǀĂŜÄ?Ğ͏ ĚĞÄ?ĹŻĹ?ŜĞ ĆŒÄ‚Ć&#x;ŽͿ Ç ÄžÄ‚ĹŹÄžĹśÄžÄš ƚŽ ĎŹÍ˜Ď˛Ç† Ä¨ĆŒĹ˝Ĺľ ƚŚĞ Ď­Í˜ĎŻÇ† ĆŒÄžÄ?Ĺ˝ĆŒÄšÄžÄš

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

T ic k er

P ric e

P ric e C hg %

T ic k er

Value

FO

29.00

-9.4%

GUA R A N T Y

1568.8

P ric e C hg % -1.6%

N EM

2.30

-8.7%

M TNN

444.5

-0.8%

P R EST IGE

0.54

-8.5%

Z EN IT H B A N K

443.8

-0.3%

LJĞĆ?ĆšÄžĆŒÄšÄ‚Ç‡ Ä‚Ć? Ď­Ď° Ć?ƚŽÄ?ĹŹĆ? ĂĚǀĂŜÄ?ĞĚ ĆŒÄžĹŻÄ‚Ć&#x;ǀĞ ƚŽ ĎŽĎŽ ĚĞÄ?ĹŻĹ?ĹśÄžĆŒĆ?͘ dŚĞ

A IIC O

0.66

-4.3%

NB

332.4

-0.9%

top gainers for the day were ^KhsZ E/E^ ÍžĐ˝ĎľÍ˜ĎąĐšÍżÍ• EE

UB A

6.15

-3.9%

GUIN N ESS

267.8

2.0%

WA P C O

11.55

-3.7%

A C C ESS

135.9

0.0%

SEP LA T

ÍžĐ˝ĎľÍ˜ĎąĐšÍż ĂŜĚ , DW/KE ÍžĐ˝Ď´Í˜ĎŻĐšÍżÍ˜ Ĺ˝ĹśÇ€ÄžĆŒĆ?ĞůLJ͕ &KZd (-ĎľÍ˜Ď°ĐšÍżÍ•

495.00

-2.9%

C UST OD IA N

119.9

-0.8%

E D (-Ď´Í˜ĎłĐšÍż ĂŜĚ PRESTIGE (-Ď´Í˜ĎąĐšÍż Ç ÄžĆŒÄž ƚŚĞ Ç Ĺ˝ĆŒĆ?Ćš Ć‰ÄžĆŒÄ¨Ĺ˝ĆŒĹľĹ?ĹśĹ?

GLA XOSM IT H

9.95

-2.9%

UB A

110.5

-3.9%

Ć?ƚŽÄ?ĹŹĆ?͘ tÄž žĂĹ?ŜƚĂĹ?Ĺś Ĺ˝ĆľĆŒ Ä?ÄžÄ‚ĆŒĹ?Ć?Ĺš ŽƾƚůŽŽŏ ŽŜ ƚŚĞ ĞƋƾĹ?Ć&#x;ÄžĆ?

UN IT YB N K

0.69

-2.8%

ST A N B IC

101.7

-1.6%

UP L

1.85

-2.6%

N EST LE

98.6

0.0%

Afrinvest West Africa Limited

Asset Management

Investment Research

Ayodeji Ebo | aebo@afrinvest.com

Ola Belgore | obelgore@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Adedoyin Allen | aallen@afrinvest.com

Oluwarotimi Ashimi | oashimi@afrinvest.com

Adedayo Bakare | abakare@afrinvest.com

Brokerage

8.3% 11.7%

T ic k er

P ric e

10.7%

-6.4% 2.8%

ÄšÄžĆ‰ĆŒÄžÄ?Ĺ?ĂƚĞĚ͕ ÄšĹ˝Ç Ĺś ĎŽÍ˜ĎŻĐš ĂŜĚ ĎŽÍ˜Ď­Đš ĆŒÄžĆ?ƉĞÄ?Ć&#x;ǀĞůLJ͕ ŽŜ ƚŚĞ Ä?Ä‚Ä?ĹŹ ŽĨ

ĂŜĚ ĎŹÍ˜Ď´Đš ĆŒÄžĆ?ƉĞÄ?Ć&#x;ǀĞůLJ͕ Ä?ŽŜĆ?ĞƋƾĞŜƚ ŽŜ ĹŻĹ˝Ć?Ć?ÄžĆ? Ĺ?Ĺś GUARANTY (-

23.6%

41

WEDNESDAY, JUNE 26, 2019 ˾ T H I S D AY

MARKET NEWS

NEM Insurance Shareholders Receive N686m Dividend Goddy Egene Shareholders of NEM Insurance Plc are to share a total dividend of N686.464 million, which is 13 kobo per share for the financial year ended December 31, 2018.

The dividend, which was recommended by the board of directors, was approved by the shareholders at the 49th annual

general meeting (AGM) held in Lagos yesterday.

Speaking to the shareholders, Chairman of NEM Insurance Plc, Fidelis Ayebae said the dividend would be payable shareholders subject to deduction of withholding tax at the appropriate rate.

He said the underwriting firm posted a gross premium of N15.04 billion, up by 12.2

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

per cent from N13.4 billion in 2017, while investment income rose by 34.2 per cent to N952.8 million, compared with N709.9 million in 2017.

The chairman said the board supervised the management’s efficiency that brought about a reduction in the management expenses from N2.9 billion in 2017 to N2.8 billion in 2018.

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 24Jun-2019, unless otherwise stated.

Ayebae said in line with the company’s policy of ensuring enhancement of the knowledge of members of staff and improving their skills on the job, the management sent over 90 per cent of the staff on various trainings, workshops and conferences during the year.

Explaining the financial performance of the company,

Group Managing Director/Chief Executive Officer, Mr. Tope Smart explained that investment income increased by 34 per cent but the firm experienced a decrease in profit during the year under review.

“This was due to the increase in claims paid during the period.

While gross claims increased by 20 per cent from N5 billion in

2017 to N6 billion in 2018, net claims increased from N1.7billion in 2017 to N2.6billion in 2018 an increase of 43 per cent. This led to a decrease in our profit. Therefore, profit before tax came down by 13 per cent from N3billion in 2017 to N2.7billion in 2018, while profit after tax decreased by 27 per cent from N2.8billion in 2017 to N2billion in 2018.

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 146.73 148.93 -6.67% Afrinvest Plutus Fund 100.00 100.00 8.11% Nigeria International Debt Fund 277.85 277.85 1.69% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.88 0.89 4.48% ACAP Income Funds 0.77 0.77 34.48% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 13.25% AIICO Balanced Fund 2.32 2.35 4.61% 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 15.27 15.73 -7.98% ARM Discovery Fund 342.20 352.52 -4.05% ARM Ethical Fund 28.71 29.57 1.66% ARM Money Market Fund 1.00 1.00 13.12% 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 96.18 96.86 -4.95% AXA Mansard Money Market Fund 1.00 1.00 16.73% 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 1.83 1.83 13.49% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 13.68% Paramount Equity Fund 12.01 12.11 1.69% Women's Investment Fund 105.92 106.66 2.32% 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 12.97% Cordros Milestone Fund 2023 98.91 99.37 Cordros Milestone Fund 2028 98.87 99.18 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 12.23% Coronation Balanced Fund 0.83 0.83 Coronation Fixed Income Fund 1.21 1.21 7.60% 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 N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A 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 1,199.70 1,200.55 7.41% FBN Heritage Fund 143.24 144.18 0.32% FBN Money Market Fund 100.00 100.00 12.87% FBN Nigeria Eurobond (USD) Fund - Institutional 117.06 117.36 5.96% FBN Nigeria Eurobond (USD) Fund - Retail 117.01 117.31 6.18% FBN Nigeria Smart Beta Equity Fund 136.03 137.93 -9.31% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 11.28% Legacy Debt Fund 3.44 3.44 5.92% Legacy Equity Fund 1.12 1.14 -8.39% Legacy USD Bond Fund 1.05 1.05 2.28% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 3,039.87 3,068.96 1.83% Coral Income Fund 2,923.67 2,923.67 6.71% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 10.77% Nigeria Entertainment Fund 108.94 109.49 1.48% 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 12.45% Vantage Balanced Fund 2.16 2.18 0.50% Vantage Guaranteed Income Fund 1.00 1.00 15.90% Kedari Investment Fund (KIF) 131.92 132.01 5.56% 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 1.21 1.23 5.65% Lotus Halal Fixed Income Fund 1,114.14 1,114.14 6.66% 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 10.71 10.80 -6.88% Meristem Money Market Fund 10.00 10.00 12.14% 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 1.28 1.30 4.38% PACAM Fixed Income Fund 11.59 11.67 4.11% PACAM Money Market Fund 10.00 10.00 12.25% 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 125.13 125.87 3.71% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.03 1.03 6.93% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,363.27 2,375.63 2.10% Stanbic IBTC Bond Fund 202.70 202.70 6.61% Stanbic IBTC Ethical Fund 0.89 0.90 -5.79% Stanbic IBTC Guaranteed Investment Fund 257.63 257.73 6.27% Stanbic IBTC Iman Fund 153.36 155.09 -5.99% Stanbic IBTC Money Market Fund 100.00 100.00 12.84% Stanbic IBTC Nigerian Equity Fund 7,949.27 8,043.05 -6.37% Stanbic IBTC Dollar Fund (USD) 1.12 1.12 2.92% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.20 1.21 0.74% United Capital Bond Fund 1.71 1.71 7.57% United Capital Equity Fund 0.72 0.73 1.02% United Capital Money Market Fund 1.00 1.00 13.25% United Capital Eurobond Fund 111.34 111.34 3.80% United Capital Wealth for Women Fund 1.13 1.14 3.76% 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 10.57 10.74 0.45% Zenith Ethical Fund Zenith Income Fund Zenith Money Market Fund

11.32 22.11 1.00

11.46 22.11 1.00

-4.61% 14.62% 12.17%

REITS NAV Per Share

Yield / T-Rtn

5.40 121.56 52.50

-44.85% 3.25% 1.47%

Bid Price

Offer Price

Yield / T-Rtn

9.71 98.31 81.86

9.81 100.37 83.34

-7.92% -16.20% -7.70%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.59 6.06 13.06 10.65 143.32

3.63 6.14 13.16 10.85 145.32

-10.25% -20.40% -10.82% -13.74% 8.84%

NAV Per Share

Yield / T-Rtn

111.37

17.40%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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WEDNESDAY JUNE 26 2019 ˾ T H I S D AY

49

INTERNA TIONAL

US, Iran Trade Words over Sanctions Donald Trump has lashed out at the “ignorant and insulting statement” released by Iran after the US president announced fresh sanctions against the Middle Eastern nation.

The tweets came after Iran’s President Hassan Rouhani said the move proved the White House was “mentally retarded”.

Trump said it showed Iran’s leaders “do not understand reality”.

He unveiled the sanctions on Monday, saying they were a response to recent “aggressive behaviour” by Iran.

The sanctions target a number of individuals, notably Iran’s Supreme Leader, Ayatollah Ali

Khamenei, who Trump said was “ultimately responsible for the hostile conduct of the regime”.

The US has alleged Ayatollah Khamenei has access to vast wealth which helps fund the Islamic Revolution Guard Corps (IRCG). In a 2018 op-ed, US Secretary of State Mike Pompeo

suggested it was as much as $95bn (£75bn) and was “used as a slush fund for the IRGC”.

But Rouhani questioned why the US would single out a man who he said only “owns a Hoseyniyyeh [prayer venue] and a simple house”, calling

Ethiopian Prime Minister, Abiy Ahmed, was yesterday seen weeping at a memorial for the army chief of staff who was shot dead in an alleged coup attempt last Saturday.

Gen Seare Mekonnen was reportedly assassinated by his bodyguard as part of a plot to seize power in the northern region of Amhara.

Officials said the bodyguard is being treated for his injuries, contradicting an earlier claim that he was dead.

The alleged ringleader of the coup was shot dead on Monday, police said.

Brig-Gen Asaminew Tsige was reportedly killed as he tried to escape from his hideout in Amhara’s capital, Bahir Dar. The internet has been shut across Ethiopia, after a brief resumption in service that followed an unexplained blackout lasting more than a week.

Tuesday’s memorial service took place at a large venue in the Ethiopian capital, Addis Ababa, amid tight security.

Mourners paid their respects before flag-draped coffins bearing

the bodies of Gen Seare and Gen Gezai Abera, who was assassinated with him.

Abiy was filmed wiping away his tears while soldiers eulogised the dead men.

This has been a sombre ceremony full of religious and military symbolism. Priests from the Ethiopian Orthodox Church led the prayers, chanting hymns for the dead. The top brass of Ethiopia’s military would later line up, one by one, as they saluted in front of the caskets of the killed generals.

Prime Minister Abiy wept throughout the ceremony, his head in his hands. As one general broke down while paying his tributes, Mr Abiy reached out to embrace President Sahle-Work Zewde.

Both were in tears. There were tributes from Gen Seare’s son and his colleagues, who all described him as a loyal servant.

Hundreds of people turned up from early morning. The majority were locked out with no space to accommodate them in the hall.

After the memorial, Gen Seare’s coffin, draped in the Ethiopian flag, was flown to his birthplace

in the northern region of Tigray for burial.

The attack on Gen Seare and Gen Gezai on Saturday came hours after gunmen in Bahir Dar killed the governor of Amhara, Ambachew Mekonnen, along with two senior officials.

The government described the events as a co-ordinated attempt to seize power in the northern region. State officials told local television on Monday that BrigGen Asaminew had been present at the killing of the governor.

While details are still unclear, news of Gen Asaminew’s alleged bid for power was not a surprise for some Ethiopians.

He was a member of the Amhara, the country’s second largest ethic group. He had a reputation for hardline ethnic nationalism and had previously called for the Amhara people to have greater autonomy.

This month, in a video on social media, he openly advised the Amhara to arm themselves.

He had been serving as Amhara’s regional security chief and was said to have a significant following among young people.

A top aide to Melania Trump will be the next White House Press Secretary and communications director, the first lady has announced on Twitter.

Stephanie Grisham, who serves as the first lady’s deputy chief of staff and communications director, will fill the vacancy left

by Sarah Sanders.

“I can think of no better person to serve the administration and our country,” Mrs Trump wrote on Twitter.

Mrs. Sanders announced her resignation from the post earlier this month.

President Donald Trump said Grisham was “fantastic” and had accepted the job on Tuesday morning.

“Stephanie has been with me from the beginning,” he told reporters.

“A lot of people wanted the job, a lot of people wanted to do it. I’ve asked people, who do you like, and so many people said Stephanie. She’s here, she knows everyone, she actually gets along with the media very well.”

Calling her time at the White

the sanctions “outrageous and idiotic”.

He also said it suggested the US is lying about wanting dialogue.

But Trump said the only thing Iran understood was “strength and power, and the USA is by

far the most powerful military force in the world”.

“Any attack by Iran on anything American will be met with great and overwhelming force,” he added in a tweet.

“In some areas, overwhelming will mean obliteration.”

Trumps Appoints Melania’s Spokesperson Ethiopia PM Weeps for General Killed in Failed Coup as Press Secretary House “the honour of a lifetime”, Sanders said she would be returning to Arkansas at the end of June to spend more time with her family.

Hours after the announcement, Mrs Sanders wrote on Twitter that her replacement would do “an incredible job”.

“I’m so proud that another mom and a great friend will be taking over,” she said.

Grisham, considered a leading candidate for Sanders’ replacement, has worked for the Trump family since 2015.

She will accompany US President Donald Trump in her new role on his trip to Japan and Korea this week, CNN reported.

Grisham will serve both as press secretary and communications director, a post that has been empty since the departure of Bill Shine in March.

Grisham began working for the Trump family in 2015 and is one of the last remaining aides from the presidential campaign who still serves in the White House.

She previously worked

as a spokeswoman and a communications operative in Republican politics, including Mitt Romney’s 2012 campaign for president.

Grisham, who has long been involved in Arizona politics, was one of Trump’s first staffers in the state, organising his campaign work there in the early stages of the 2016 election.

Throughout her tenure in the administration, Ms Grisham has been fiercely loyal to the first lady and the Trump family.

While working with Mrs Trump, Ms Grisham is said to have run a tight operation, allowing few leaks or missteps.

“She has developed a great amount of trust from both the president and the first lady, which is a pretty high commodity here,” said Sanders to the Washington Post last year.

“There aren’t a lot of people who have a lot of regular interaction with both of them.”

In June 2017, when Mr Trump tweeted that MSNBC host Mika Brzezinski was “bleeding badly from a facelift”, Mrs Grisham rushed to defend his remarks.

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WEDNESDAY JUNE 26, 2019 ˾ T H I S D AY

NEWSEXTRA

Yoruba Leaders Meet Buhari, Harp on Security, Federalism President explains removal of Onnoghen Omololu Ogunmade in Abuja Some Yoruba leaders led by Senator Ayo Fasanmi yesterday met with President Muhammadu Buhari in Abuja, demanding for the extension of the control of police to local governments as well as strict adherence to the principles of federalism.

President Buhari also used the occasion to explained why the former Chief Justice of Nigeria (CJN), Justice Walter Onnoghen was suspended before his voluntary retirement on May 28.

Presenting a speech on behalf of the group, Senator Olabiyi Durojaye, thanked the president for recognising June 12 as Democracy Day and renaming the Abuja National Stadium after the late Chief MKO Abiola.

According to him, the federal government needs to scale up its efforts in providing security by increasing its manpower and as well taking police control beyond the state to the 774 local government areas of the council.

Durojaye also advocated the need for vigilance on the part

of individuals, disclosing the outcome of a security summit held by South-west governors recently adding that states will need subventions in the battle against kidnapping and violent attacks on citizens.

He said: “The huge cost not-withstanding, it may be considered worthwhile to take a bold step in combating crime and improving on security by improving on the apparent shortage of the manpower in the Nigeria Police Force and by extending control of the Police from the State to Local Government level.

By this, we humbly suggest that Mr. President should reflect deeply and consider recruitment, training, equipment and deployment of Nigerian Police on the basis of 774 Local Governments listed in the First Schedule of the 1999 Constitution of the Federal Republic of Nigeria.

“Added to this is training the general public on the need to improve on their individual vigilance and awareness of

movement of strangers passing through or moving into their neighborhood. Imbibing such habit and practice will be a tremendous help or service to the Police and other security Agents as regards “Intelligence” support especially now that must people have access to individual means of communication (telephone handsets).

“Mr. President Sir, please permit me one more observation on the issue of security. In apparent desire to supplement your efforts, the newly elected Governors of Western Nigeria extraction, have this very day, Tuesday the 25th June 2019, held a meeting in Ibadan to

map out strategies to eradicate kidnapping and violent attacks.

They and other states will surely need more financial subvention and support.”

Durojaye also disclosed the group’s demand for strict adherence to the principles of federalism, describing it as the platform for realising the goal of diversity, mutual respect and tolerance.

“We seriously recommend clinging to the spirit and letters of our Federal Constitution. This is one sure way of achieving the desired goal of unity even in diversity, mutual respect, tolerance and giving true meaning to the opening phrase

of our Constitution that is, ‘WE THE PEOPLE.’ Meanwhile, Buhari for the first time yesterday, disclosed why the former CJN, Onnoghen was suspended before his voluntary retirement on May 28.

He said he reluctantly `dealt’ with Onnoghen following the discovery of huge amount of monies (both in foreign and local currencies) that were traced to him.

He said: “I will tell you as Afenifere, that was why I had to deal though reluctantly with the former Chief Justice, because there were millions of dollars, euros, not to talk of naira, which were not declared.

“I wonder what sort of conscience some of us have; how can you sit and preside and lock people up for years and even sentence some to death and yet you are not doing what the constitution says you should do by occupying that vital institution.

The president revealed his administration was determined to recover all stolen funds and properties within and outside the country.

He said all the recovered properties would be sold and the money put in the nation’s treasury to make it impossible to return such properties to the looters in future.

Drama as HDP’s Factional Chairman Disowns Petition against Buhari They’re impostors sponsored to scuttle petition, Owuru tells tribunal Alex Enumah in Abuja The proceedings of the Presidential Election Petition Tribunal (PEPT) involving the petition of Hope Democratic Party (HDP) again turned out to be dramatic yesterday as a factional chairman of the party, Poland Tapre, urged the court to strike out the name of the second petitioner, HDP from the petition against President Muhammadu Buhari.

Tapre, through his lawyer, Tony Eseigbe, had continued to insist that the HDP was not consulted before the first petitioner and presidential candidate of the HDP in the last general election, Ambrose Owuru, filed petition on his behalf and that of the HDP against the election of President Buhari.

But Owuru, who for the first time since the tribunal commenced sitting, was represented in court, by Anwal Abdullahi, National Financial Secretary of the HDP, insisted that the factional chairman, Tapre and others laying claim to the leadership of the party, are impostors and fugitives from the law who are bent on frustrating efforts of the HDP and its presidential candidate.

Tapre had in a motion filed on June 18, 2019, prayed the tribunal to strike out the name of the HDP from the petition on the grounds that the party was not consulted before the petition was filed.

He also prayed the tribunal for a change of counsel, adding that the party at no time engaged anyone except Eseigbe to act on their behalf.

However, in the counter affidavit filed in opposition

to the notice to strike out the name of the HDP as joint petitioner and change of counsel, Owuru insisted that Tapre and others remained strangers to the petition and had no basis or authority to interfere in the duly filed joint and certified petition against the outcome of the February 23 presidential poll.

In the counter affidavit dated June 24 and deposed to by Anwal Abdullahi, the first respondent told the tribunal that the factional chairman and his supporters represented a sacked and expelled interest in Bayelsa State chapter of the HDP, “who have made it their business to avail themselves to petitioners opponents to assist to disrupt the petitioners political activities and programmes since 2016”.

When the case was called, Tapre’s lawyer, Tony Agbonlahor, pleaded with the tribunal to remove the HDP’s name from the petition because the party has no intention of challenging the outcome of the presidential poll.

In his reply, Owuru’s counsel, Chukwunonyerem Njoku, alleged that the factional chairman was a sponsored agent sent to the tribunal to frustrate the speedy hearing of the petition of his client against Buhari.

Njoku pleaded with the tribunal to award a punitive cost of N100 million against the factional chairman for acting as busy body and meddlesome interloper in the petition.

Lawyers to Buhari, INEC and APC in their responses however did not oppose the motion to strike out the name of the HDP from the petition.

SECURITY ON THEIR MINDS...

L-R: Chairman, South West Governor’s Forum and Ondo State Governor, Arakunrin Rotimi Akeredolu; his Osun State counterpart, Mr. Gboyega Isiaka; Assistant Inspector General of Police (AIG), Zone 11, Mr. Leye Oyebade; Ogun State Governor, Prince Dapo Abiodun; Lagos State Governor, Mr. Babajide Sanwo-Olu; Deputy Inspector General of Police, Logistics and Supply, Mr. Taiwo Lakanu; Ekiti State Governor, Dr. Kayode Fayemi; and Oyo State Governor, Mr. Seyi Makinde, during the South-west Governors’ Stakeholders’ Security Summit in Ibadan, Oyo State...yesterday

Insecurity: IG Deploy Dogs to Railway Stations In view of the increasing rate of kidnapping, killings and other crimes across the country, the Inspector-General of Police (IG), Mohammed Adamu, yesterday deployed police dogs to railway stations across the county.

The IG explained that deployment is expected to complement the existing security measures put in place for the security and safety of passengers and critical infrastructure of the Nigeria Railway Corporation across the country.

He also added that the

deployment of the dogs was meant for detection and prevention crimes along the railway corridors.

The dogs are for patrols, surveillance, detection and apprehension of criminals in and around railway facilities.

Before this recent deployment, about 1000 additional police personnel were deployed to the Nigeria Police railway Command.

Speaking during the flag-off of K9 deployment to all railway stations, the IG said: “Indeed, K9 are known to possess extra-

ordinary capacity for detection of Improvised Explosives Devices (IEDs), narcotics and other illicit drugs, firearms and other prohibited items which criminals usually engage for the perfection of their criminal activities.

“By this event today, our plan is to maximise our unique K9 strength to complement other sections that have been deployed as part of the broad policing architecture which we recently emplaced towards addressing our internal security challenges.

“This unprecedented deployment was designed to address the manpower gap of the command and reposition them to address vulnerabilities, projected threats, and security challenges which the increasing human traffic and expanding assets of the Nigeria Railway Corporation may present.

“With today’s initiative, passengers, staff, and indeed, all the citizens of this country can further be re-assured of their security as they patronise the services of the Nigerian Railway Corporation.”

PDP Rejigs Minority Positions in Senate Asks Saraki to broker peace in Edo Chuks Okocha in Abuja The immediate past President of the Senate, Dr. Abubakar Bukola Saraki, is to lead peace moves to pacify members of the Peoples Democratic (PDP) who might have lost out in the selection of the party’s leaders in the National Assembly.

The peace move became necessary following the party’s resolve to do a major reshuffle of its leadership in the Senate, which resulted in the replacement of Senator Clifford

Odia (PDP, Edo Central) with Senator Sahabi Yau (PDP, Zamfara North) as Deputy Minority Whip.

“The decision of the PDP National Working Committee (NWC) to replace Odia with Yau was informed by the need to reflect National character and spread in the Minority positions in the Senate the House of Representatives.” a source within the party said.

“Accordingly the party has resolved to appeal to Odia to, in the interest of the country,

give up the position to the North West Zone. This is because the South-south zone has two positions out of the eight positions while the North West Zone was completely shut out,” the source added.

It was also learnt that the party has appealed to Saraki to spearhead the effort to soothe ruffled feathers in Edo State where Ordia comes from.

The choice of Yau, was also partly due to the consideration and choice of Hon. Kingsley Chinda of Obio/Akpor Federal

Constituency in Rivers State as Minority Leader of the House of Representatives, it was further learnt.

There are a total of four Minority positions in each of the two chambers of the National Assembly.

The decision would be communicated to the President of the Senate Ahmad Lawan who would formally announce same to all Senators upon the resumption of the upper legislative chamber on July 2.

WEDNESDAY JUNE 26, 2019 ˾ T H I S D AY

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NEWSEXTRA

Server Claim: Presidential Candidates, Party Chairmen Accuse PDP of Heating up Polity Opposition party kicks as Buhari hails presidential candidates Atiku: Tribunal didn’t reject my request on server Omololu Ogunmade, Chuks Okocha, Adedayo Akinwale and Udora Orizu in Abuja The Joint Forum of Political Party Chairmen and some presidential candidates who participated in the 2019 elections have accused the Peoples Democratic Party (PDP) of heating up the polity with its server claim, saying it was a deliberate ploy to destroy the integrity of the country’s electoral process.

Reacting to the position of these parties, the presidency last night in Abuja hailed the endorsement of 2019 presidential election by 60 presidential candidates and chairmen of their political parties as free, fair and credible and urged the opposition to accept its loss with grace and maturity.

However, the presidential candidate of the PDP in the March 23 presidential election, Atiku Abubakar, said yesterday that the last has not been heard of this matter, saying he eagerly anticipates the actual ruling of the tribunal when the case begins.

The forum in a press conference in Abuja addressed by 13 of its members, insisted that the Independent National

Electoral Commission (INEC) server controversy was unnecessary, stressing that it was a plot by the main opposition party to discredit the election.

The chairman of the forum and the National Chairman of Advanced Peoples Democratic Party (APDA), Shitu Mohammed, claimed that in the build-up to the elections, presidential candidates and political parties held several meetings with INEC, stressing that the delay in finalising the electoral legal framework and the eventual withholding of assent to the Electoral Act Amendment Bill deprived the country of the much-needed reform of the country’s electoral process which must be anchored on the rule of law.

“This INEC server controversy is a deliberate ploy to destroy the integrity of our electoral process. Can the so-called results from the server be referred to as credible where INEC could not have legitimately transmitted results of the presidential or any of the other elections electronically?”

Mohammed said, “Therefore, the report of the European Union Election Observation Mission released over a week ago wherein they alleged a lack

of transparency in the guidelines of election is bewildering. With all due respect to the EUEOM, it is left to Nigerians to decide how we conducted our 2019 general election”.

Reacting to the position of these parties, the Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, in a statement, said President Muhammadu

The Peoples Democratic Party (PDP) has dared the Nigeria Police to probe the allegations of corruption levelled against some of its principal officers who have been accused of corrupt practices.

The main opposition party asked the Inspector General of Police to investigate allegations of corruption against the National Chairman of the All Progressives Congress (APC) Adams Oshiomhole; the Governor of Kaduna State, Nasir el-Rufai and the Kano State Governor, Abdullahi Ganduje.

Addressing journalists yesterday, the National Publicity Secretary of PDP, Kola Ologbindiyan who accused the

Police of violating the immunity clause as guaranteed in 1999 Constitution, Section 308, when it invaded the residence of the Taraba State government official.

According to the PDP spokesman, the invasion of the official residence of the Taraba State Governor by the Police was an act of intimidation by the Police, stating that the party is daring the Police to conduct such invasion to APC officials who have corruption charges hanging over their heads.

The PDP spokesperson therefore said, “Can they also proceed to invite or search the residences of members of the cabal at the Presidency as well as former ministers in the Buhari’s administration, who as

Davidson Iriekpen A Lagos High Court in Igbosere yesterday sentenced a Togolese cook, Sunday Adefonou Anani, to life imprisonment for the October 31 2018 murder of the Chief Executive Officer of Credit Switch Limited, Ope Bademosi.

Justice Mobolanle OkikioluIghile convicted Anani after he pleaded guilty to a onecount charge of voluntary manslaughter.

Anani confessed to the court that he stabbed Chief Bademosi to death in his Ikoyi, Lagos

state governors have allegations of stealing public funds still hanging on their necks?

“The PDP invites Nigerians to note that despite series of corruption allegations against the APC National Chairman, Adams Oshiomhole, while serving as the Governor of Edo State, he has not been invited for questioning by the police, neither has his residence been searched by any security agency.

“Besides, the federal authorities have taken no steps to search any property belonging to an APC governor of one of the states of the North-central, who was accused of smuggling in and stockpiling military equipment ahead of the 2019 general election.

Eight Persons Killed in Fresh Attacks in Taraba No fewer than 10 persons were yesterday killed and several houses burnt in two separate attacks in the Wukari Local Government Area (LGA) of Taraba State.

However, the state Police Public Relations Officer, David Misal, also confirmed the attack in Wukari, but said only one person was killed.The

Caretaker Chairman, Wukari Local Government, Daniel Adi, said armed gunmen in army camouflage attacked Rafinkada in the early hours of yesterday and set several houses ablaze.

He added that while the attack on Rafinkada was going on, another batch of the attackers blocked the Wukari-Takum Road at a forest close to Wukari and

killed five persons.

Adi noted that a soldier was injured in the attack at Rafinkada and was receiving treatment at an undisclosed hospital in Wukari.

Also five persons were reportedly killed at the Takum junction in Wukari in what appeared to be a reprisal on Rafinkada.

FAAN Reads Riot Act to Staff against Drug Trafficking Chinedu Eze The Federal Airports Authority of Nigeria (FAAN) has threatened to deal ruthlessly with any staff caught conniving with drug traffickers in baggage tagging across airports in the country.

The General Manager, Public Affairs, FAAN, Mrs Henrietta

Yakubu, who disclosed this in Lagos, said the report of the special task force set up by the managing director of FAAN to investigate the involvement of FAAN staff , especially in the last drug deal at Kano airport, would determine the punishment to be meted out based on their involvement.

integrity in Nigeria,’’ the statement said.

Meanwhile, Atiku has said that the last has not been heard of the server issue, insisting that the request to inspect the server was not rejected.

In a statement signed by his Media Adviser, Mr. Paul Ibe, the former vice president said, “The request by Atiku Abubakar and the Peoples

Democratic Party to inspect the server of the Independent National Electoral Commission was not rejected. ‘’What the honourable tribunal said was that it is still at preliminary stages and the main case has not begun and that the matter of granting access to inspect the INEC server is not relevant to the preliminary stages.”

Togolese Cook Bags Life Imprisonment for Killing Credit Switch Boss

PDP Asks APC to Probe Oshiomhole, el-Rufai, Ganduje Chuks Okocha in Abuja

Buhari promised to look into the Electoral Act in accordance with the advice of the presidential candidates.

“We are encouraged by the patriotism of the presidential candidates expressed in clear and matured language. We are convinced that, regardless of our different political persuasions we can work together to improve electoral

Yakubu said FAAN was disturbed over allegation against some members of staff of the agency for their alleged involvement in facilitating drug movement at the Mallam Aminu Kano International Airport, Kano, which led to the false drug allegation against Zanab Aliyu issue.

home, while trying to rob him.

He also confirmed that he was the person caught on Closed Circuit Television (CCTV) fleeing the scene of the crime, after the murder.

Anani was originally arraigned on a two-count charge of murder and armed robbery, which could have fetched him a sentence of death by hanging on conviction, but he struck a plea bargain deal with the Lagos State Government soon after the trial commenced.

The agreement, which followed consultation with his counsel, the Director of the

Office of the Public Defender (OPD), Mrs Aderenra Adeyemi, allowed him to admit the lesser charge of manslaughter.

Before sentencing Anani, Justice Okikiolu-Ighile asked Adeyemi if the cook, who spoke only French, had an allocutus.

Allocutus is a plea made in criminal trials in order to mitigate the sentence or punishment on a convicted person.

Adeyemi said: “The defendant is a young man and he is remorseful about what he has done. He is a first-time offender; there is no evidence that he

committed any crime before this. Our humble application is to urge your lordship to grant a sentence of years certain.

However, if my lordship is mindful of upholding what we have agreed in the plea bargain, we will accept the sentence therein.”

But Lagos State Director of Public Prosecutions (DPP) Titilayo Shitta-Bey opposed the prayer.

Shitta-Bey said: “We urge this court to grant the maximum sentence for the offence of voluntary manslaughter act as charged.”

WEDNESDAY JUNE 26, 2019 ˾ T H I S D AY

52

NEWS EXTRA

I Receive N750,000 as Salary, Says Senate President Deji Elumoye in Abuja The President of the Senate, Dr. Ahmed Lawan, yesterday said there was nothing like jumbo salary for National Assembly members as being speculated in some quarters.

Lawan who made the disclosure, when members of the Senators’ Forum paid him a courtesy visit in his office in Abuja, revealed that his monthly salary as a lawmaker and that of his colleagues was N750,000.

“What I want to emphasise here is that I never believed that there is anything called Jombo pay to the national assembly.

“The National Assembly members both the Senate and the House of Representatives receive what is their salaries and I receive N750,000 as my salary.

“But I need to function as a senator, my office needs to be properly funded,” he said.

He promised that the National Assembly was going to be open to the general public in the conduct of its legislative activities, particularly in the area of funding.

“National Assembly is going to be open to the public; I believe that the National Assembly should have everything open, let Nigerians Know, what we are doing.

“I believe that Nigerians need to understand this, we need to continually engage with Nigerians and I will also argue that we continue to explain to Nigerians, they deserve to know how their resources are being utilised.

“I believe that the national assembly needs proper funding because the legislature is so critical in any national development,’’ he said.

Lawan also expressed the readiness of the National Assembly to receive the 2020 budget estimates from the

Executive arm of government

by September, this year.

He emphasised that in line with plan to return yearly budget calendar to January / December, estimates of 2020 budget proposals are expected from the executive

latest by September .

According to him, one of the things the ninth National Assembly in collaboration with the executive arm of government wants to get rid off , is the yearly budget delays with their attendant

economic dislocations .

“In achieving this, as soon as budget proposals are received from the executive in September, this Senate will spend only three months for its consideration and passage .

“It is our determination that

once the executive does its own side of the processes by presenting budget proposal in September of every year, we ‘ll ensure the passage of the budget before embarking on Christmas break in December, “ he said .

Court Dismisses Suit Challenging Gbajabiamila’s Eligibility to be Speaker The Federal High Court in Abuja has dismissed a suit challenging Hon. Femi Gbajabiamila’s eligibility to contest the recently-concluded speakership election of the newly-inaugurated ninth House of Representatives.

Justice Inyang Ekwo dismissed the suit following the decision of the plaintiff, Philip Undie, to discontinue the case.

Undie had filed the legal action on May 21, 2019, asking the court to remove Gbajabiamila as a member of the House of Representatives and disqualify him from contesting the leadership election of the House of Representatives.

He had anchored the suit on the alleged conviction of the lawmaker for fraud and dishonesty by the Supreme Court of the State of Georgia in the United States of America in 2007.

But a new lawyer engaged

by the plaintiff, Mr. SD Okoro, appeared in court on Monday, to adopt a notice of discontinuance of the suit earlier filed.

In response, Gbajabiamila’s lawyer, Mr. Femi Adedeji, of the law firm of Mr. Femi Falana (SAN), said he had no objection to the application for the discontinuance of the case.

But Adedeji prayed that his client, having joined issues with the plaintiff by filing a counter-affidavit against the originating summons and a preliminary object, the suit should not be struck out, but should be dismissed so that it would not be re-filed in the future.

He also prayed for a cost of N1 million to be awarded against the plaintiff.

Ruling, Justice Ekwo dismissed the suit as prayed

by Gbajabiamila’s lawyer, but refused to award cost against the plaintiff.

Terrorists, Jihadists Have Infiltrated Bandits in Zamfara, Says Commander The Theater Command of Operation Hadarin Daji, Maj. Gen. Jide Ogunlade, has raised the alarm that terrorists and Jihadists have infiltrated bandits operating in Zamfara State.

Ogunlade made the disclosure at a press briefing at the Command Headquarters in Gusau, the state capital yesterday.

“Jihadists and terrorists have now infiltrated the ranks of bandits that are operating in the bushes of Zamfara.

“Banditry is now heading towards terrorism and they are identifiable through their headgear which carries ‘Jihad’ inscription.

“Since the criminals are changing tactics, we are also changing ours and if they increase in numbers, we will most likely advise the federal government to declare them as

terrorists,” he said.

“Our operatives are now in high morale and thanks to the Presidency and the nation’s service chiefs for establishing and adequately supporting operation Hadarin Daji. “l want to assure Nigerians that all officers and men under the operation carry out their responsibilities according to the rules of engagement, especially in ensuring that collateral damage is reduced to zero.

“We have opened up a communications centre that will offer 24-hour service for our callers to call and give credible information that will help in arresting any security breach.

“We are hoping that the telephone service providers as partners are expected to allow callers make distress calls toll-free, so that the information can continue to flow.”

DAY OF THE SEAFARER …

R-L: Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside; wife of the Vice President, Mrs. Dolapo Osinbajo; Permanent Secretary, Federal Ministry of Transportation, Mr. Sabiu Zakari; and NIMASA Board Chairman, General, Jonathan India Garba (rtd.) during the 2019 celebration of the Day of the Seafarer held in Lagos...yesterday

NRC Debunks Alleged Overpricing of Lagos-Ibadan Railway Project Esther Oluku The Managing Director of Nigeria Railway Corporation (NRC), Mr. Fidet Okhiria, has dispelled rumours of alleged overpricing of the construction of the Lagos-Ibadan railway line while also dismissing claims of those comparing the cost of the Lagos-Ibadan rail line to the cost of a supposed rail track construction in Ghana.

Following a trail of stories of a supposed $2 biillon contract for the construction of a 414-kilometre railway line in Ghana, to CCECC, the same company that is constructing the Lagos-Ibadan railway line, some have been comparing the cost to that of the Nigerian Lagos-Ibadan rail project and have been criticising and making allegations against the immediate past Minister of Transportation, Mr. Rotimi Amaechi.

However, the Nigeria Railway

boss, Ikhiria, has debunked the ‘fictious’ allegations.

He said the government of Ghana does not have any contract with CCECC for the construction of any rail line and went further to challenge anyone who claims otherwise to produce the contract or any document for everyone to see.

“I won’t mind sponsoring us to Ghana. Let us see if there is any rail track CCECC is doing. Luckily, Ghana came to understudy us about two months ago.

“I challenge them to show us the contract that was awarded to CCECC to construct rail lines in Ghana that they, the rumour peddlers are now comparing to the cost of the Lagos-Ibadan rail line,” he said.

He noted that a delegation from Ghana some months ago were in Nigeria to understudy the railway system in Nigeria, adding that there is no basis for comparing the Lagos-Ibadan

rail projected that is almost completed to a non-existent Ghana rail contract with CCECC. Answering questions during a live TV programme on Channels Television yesterday, the Nigeria railway boss explained that although he cannot speak for Ghana, he was aware that there is no contract between the Government of Ghana and CCECC for rail construction in Ghana, and can show evidence of the quality and quantity of rail work being done here and its cost.

“Here in Nigeria, quality work is being done. I can take you by rail from Idu to Ibadan on standard gauge, I can take you from Abuja to Lagos, I can take you from Itakpe to Warri.

You can come to Ebute Metta to see the kind of stations we are building.”

Okhiria explained that it was complex to build a rail track in a modern city like Lagos.

“It is even more complex to build if you are passing developed areas than when passing through the bushes or virgin land. There’s a place that took CCECC time to blast the stones.

Responding on the change from $1.488 billion to $1.5 billion for the project, the Nigerian Railway boss said, “Don’t forget in any contract there’s a part called contingency.

When you talk about $1.488 billion, that is from Ebute Metta to Ibadan. But when this administration came in, the Minister (Chibuike Rotimi Amaechi) said we must get to the seaport. So that element of over 25 kilometres from Ebute Metta junction, a place popularly called Alagomeji, to the port and within the port is going take more because we have to link all terminals. So that’s an additional addendum which is about nine million dollars.”

Military Arrests 14 Suspected Killers of Ex-CDS, Alex Badeh Detectives from the Defence Headquarters, (DHQ ) Abuja, and the Department of State Services (DSS) have arrested 14 suspects in connection with the murder of the former Chief of Defence Staff, Air Chief Marshal Alex Badeh.

The suspects were arrested by a Joint Investigative Panel, which was inaugurated by the Chief of the Defence Staff, Gen. Abayomi Olonisakin, following the incident on December 18 last year.

The suspects were scheduled to be paraded before journalists

at the DHQ Garrison in Mogadishu Cantonment, Abuja, yesterday.

The parade was later postponed due to what officials of the DHQ described as “some unforeseen hitches.”

It would be recalled that the Nigerian Police Force had in December 2018 paraded five suspects linked to the murder.

One of them was a 25-yearold Shuaibu Rabo, who said the former CDS was killed while they were trying to rob him of money meant for the purchase of a new farmland.

A member of the ex-CDS family, however, debunked the claim saying there was no money with Badeh at the time he was killed by the gunmen.

The initial parade of the five suspects did not, however, stop military and DSS to follow up the matter as the CDS, Olonisakin ordered an investigative panel to dig deep into the murder.

Badeh was the Chief of the Defence Staff between January 2014 and July 2015, after he earlier served as the Chief of the Air Staff between October

2012 and January 2014.

The invitation on the parade of the suspects, signed by Lieutenant I.O Audu, partly reads, “I am directed to cordially invite you to cover the presentation of findings and parading of some arrested suspects by the Joint Investigative Panel set up by the DHQ on Tuesday. Members of the press are requested to be seated promptly as nobody will be allowed to enter the venue as soon as the event commences.”

WEDNESDAY JUNE 26, 2019 ˾ T H I S D AY

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NEWS EXTRA

First Lady Asks MDAs to Achieve UN Goal on Gender Equality Eromosele Abiodun The First Lady, Mrs. Aisha Buhari, has called on government agencies at all levels, especially those in the maritime industry to ensure the achievement of the United Nations (UN) Sustainable Development Goal 5, aimed at attaining gender equality and the empowerment of all women and girls.

The first lady made the call in Lagos yesterday as Nigeria joined the International Maritime Organisation (IMO) and other maritime countries of the world to celebrate this year’s

Day of the Seafarers with the theme, “On Board with Gender Equality.”

Represented by wife of the Vice President, Mrs Dolapo Osinbajo, Buhari said the celebration focusing on women’s seafarers was very apt as it was in line with the federal government’s agenda on job creation and women empowerment, stressing that President Muhammadu Buhari was desirous of seeing more women play more active role in the maritime industry.

According to her, “I am very delighted to be part of this important event in view

of the fact that this year’s theme is centered on gender equality and the empowerment of women in the maritime industry. This is against the backdrop of women’s poor rate of participation in seafaring and it is also worthy of note that this year’s theme is in tandem with the federal government’s agenda on job creation and power empowerment.

“It is important to educate young girls on the opportunities and benefits derivable from being a seafarer and to dissuade them from the belief that

seafaring is only meant for men. They need to know that there are equal opportunities for both men and women in shipping.”

Buhari who commended the leadership of the Nigerian Maritime Administration and Safety Agency (NIMASA) for encouraging women to become professional seafarers through the Nigerian Seafarers Development Programme (NSDP), also lauded the efforts of few indigenous companies that have adopted as a policy, fair and equal employment

opportunities for both men and women.

In his welcome address, the Director General of NIMASA, Dr. Dakuku Peterside stressed that women are central to the accomplishment and efficiency of most successful world economies.

He assured that the agency will continue to pursue policies and programmes that will accelerate gender equality and empowerment of women in the maritime sector as well as improved welfare packages and working conditions for seafarers

in line with the provisions of the Maritime Labour Convention (MLC), 2006.

According to him, “In addition to the 304 female cadets we have trained in seafarers since the inception of the National Seafarers Development programme (NSDP), greater attention will now be given to the training of female seafarers in specialized courses and areas to enable them take up professional responsibilities in specialised vessels and off shore operations and maritime sector generally.

Julius Berger Eyes Higher Growth Esther Oluku Despite challenges in the building and construction sector of the Nigerian economy, construction giant, Julius Berger Nigeria Plc will continue to be in a strong position to succeed, its Managing Director, Dr. Lars Ritcher has said.

Speaking at the company’s Annual General Meeting (AGM) in Abuja recently, Ritcher said that notwithstanding the challenges yet to be faced, Julius Berger’s confidence is bolstered by the company‘s robust order backlog and diversified portfolio which includes projects of national priority, funded reliably from outside the federal budget.

Speaking on ongoing projects being undertaken by Julius Berger, Richter said that since its flag-off in June 2018, considerable progress has been achieved on the Abuja-Kaduna-Zaria-Kano Road. He disclosed that Julius Berger is working across all three road sections simultaneously. „ The objective is to deliver a timely solution for the complete rehabilitation of this key infrastructure which connects half of Nigeria’s population residing in the North to the rest of the country.“

Further on the same project, the managing director said Julius Berger has pioneered the use of cold recycling methodology which provides for the milled-off pavement to be recycled and improved for reuse in paving the base layer of the road.

“This solution offers many social and environmental benefits and leads to a more cost effective and timely road rehabilitatio.

“Our strategy is to rollout this solution for other future projects… and we believe that as the pioneers of Cold Recycling methodology in Nigeria, that Julius Berger is in the position to revolutionise road rehabilitation across the nation“, he noted.

He also disclosed that the Lagos-Shagamu Expressway has seen delays and even work stoppage in the past due to funding challenges.

However, he stated that since the resumption of work, a steady pace of progress is being achieved.

“Considering that the Expressway is now financed via the Presidential Infrastructure Development Fund, we presume that we will be able to achieve an uninterrupted pace of work with the new funding structure“, he said.

Lagos Asks Residents to Comply with State’s Laws Lagos State Solicitor-General and Permanent Secretary, Mrs. Funlola Odunlami, yesterday renewed call on all residents to comply with the state’s existing laws so as to ensure a better life for everyone.

The call was made in reaction to the publication, in a national newspaper which alleged that innocent people were being sent to prison.

While acknowledging that the state was not averse to public criticisms, she, however, maintained that government has the mandate and responsibility to perform, saying: “Criticism serves as evaluation mechanism through which we fine-tune and improve on our service delivery to members of the public”.

The statement justified the essence of the establishment of the Special Offences Court as in reaction to identified societal challenges and not for revenue generation as being insinuated in the publication.

“The Special Offences Court Law has clearly stipulated proceedings of its own and this certainly is in consonance with the provisions of the Constitution of the Federal Republic of Nigeria particularly on the principle of fair hearing,’’ it said.

According to the statement, the operation of the court is such that the charges are read and the defendant and his plea determines the course of the case.

“If he pleads guilty, he may at the discretion of the presiding Magistrate be convicted on his plea,. ``In the case of a non-guilty plea, the process provides for the prosecution to present its case and the defense to put up its own as well.’’

The statement added that Counsel from the Office of the Public Defender (OPD) are always available to defend the latter who also has the liberty to choose any other legal practitioner to represent him.

FIRST LADIES’ AFFAIR…

L-R: Guest speaker, Dr. Olufunmilayo Olapade; Edo State First Lady, Mrs. Betsy Obaseki; Ogun State First Lady, Mrs. Bamidele Abiodun; founder/host, The Handmaidens Women in Leadership Series, Dr. Siju Iluyomade; Lagos State First Lady, Dr. Ibijoke Sanwo-Olu,;and wife of Speaker, House of Representatives, Mrs. Salamatu Gbajabiamila, during The Handmaidens Women in Leadership series held in Lagos… yesterday ETOP UKUTT

Appoint No Corrupt Politician in MDAs, N’Delta Group Tells Buhari Condemns proposed VAT increase, insecurity Sunday Okobi Niger Delta women under the auspices of Warri Women Consultative Assembly (WWCA) yesterday charged President Muhammadu Buhari not to repeat the mistake of the past where politicians of questionable character were appointed into sensitive positions in major Ministries, Departments and Agencies(MDAs), thereby immersing the populace in perpetual hardship.

The group, which congratulated the president on his recent victory at the 2019

general election as well as his inauguration for a second term in office, maintained that all appointees must be investigated and declared clean of corrupt act before confirmation.

The group, led by its President, Chief Rita-Lori Ugbebor, at a press conference held in Lagos, where a letter written to the president was disclosed to journalists, further urged Buhari to uphold his ‘unrivaled’ integrity in appointing politicians to head different agencies, adding that it is his integrity that has kept the All Progressives Congress (APC) and the country strong.

In the letter, Ugbebor said: “We the Warri Women Consultative Assembly welcome you back to Aso Rock as we congratulate you for a hard won victory in the 2019 general election.

“Our fight for integrity and anti-corruption is a fight we believe in, and we are therefore determined that it should succeed. This is the only way Nigeria can be a country of pride, stability, hunger and penury-free. Since your victory at the election, we know you must have been bombarded by job seekers.

“However, we know

them, and that’s why we are writing to remind you of the feelings of those who have fought alongside you in the struggle for credibility and anticorruption. Sir, remember that a lot of us contributed to your victory and we are confident that you would not let us down by appointing men, who have ruined us in their previous positions. Already, people are looking for jobs in the highest places like ministerial appointments, NNPC, NDDC, Ministry of Niger Delta, DESOPADEC among others.

Ijaw Youths Warn against ‘Hijack’ of NNPC Jobs Emmanuel Addeh in Yenagoa The Ijaw Youth Council (IYC) Worldwide yesterday maintained that the organisation had discovered a grand plan by certain forces in the presidency to hijack the recent opening in the Nigerian National Petroleum Corporation (NNPC) to the exclusion of qualified persons of Ijaw descent.

Briefing journalists yesterday in Yenagoa, Secretary-General of the IYC, Alfred Kemepado, who was flanked by members

of the executive council, told journalists that the group was in possession of unassailable information that a list had already been released by the so-called cabal, despite the recent nationwide tests conducted by the NNPC. He added that following the training received within and outside the country sponsored by the Presidential Amnesty Office and the Niger Delta Development Commission (NDDC), the federal government has no

excuse for insisting that the people of the Niger Delta were hardly qualified for such jobs.

“Recently, you may have discovered that NNPC made a publication for qualified people to apply for various positions in the corporation, and applications were made around the nation. As Ijaw, who are qualified and competent, most of our people also applied to be given those jobs.

“But the sad information reaching us is that a cabal in the presidency has hijacked the

process of recruitment, and that our people are being sidelined which we find very offensive for many reasons.

“One of the reasons is that we cannot continue to dwell in a country where they come around the Niger Delta area, especially in the Ijaw territory, drill the oil, take it to sustain Nigeria and leave us here in the Niger Delta region with the associated diseases such as Leukemia and the degraded environment,” the IYC said.

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WEDNESDAY JUNE 26, 2019 ˾ T H I S D AY

WEDNESDAYSPORTS

Cameroon Begins Title Defence with Win over G’Bissau Cameroon began the defence of their Africa Cup of Nations crown with victory over Guinea-Bissau in Group F. Yaya Banana opened the scoring for the Indomitable Lions, heading low into the

net from Karl Toko Ekambi’s cross.

Stephane Bahoken capitalised on a defensive mix-up three minutes later to seal the points for Clarence Seedorf’s side.

Cameroon’s tournament

Bruised Leopards Stand between Pharaohs and 2ndRound Demola Ojo AFCON 2019 hosts, the Pharaohs of Egypt, will need to get past bruised opponents DR Congo to book an early ticket to the second round of the competition.

Despite sky-high optimism and enormous support, the Egyptian team only managed to edge past Zimbabwe 1-0 in the opening match in front of a vociferous crowd at the Cairo International Stadium.

Superstar attacker Mohammed Salah failed to make an impact against Zimbabwe but the Champions League winner with Liverpool will be itching to deliver a noteworthy performance.

Salah may play in a more advanced role against DR Congo, after he was moved from the right-hand side into the middle during the second half against Zimbabwe to little effect, but coach Javier Aguirre may prolong that experiment today.

“We considered using him as a striker against Zimbabwe from the game’s start, but

Salah was not in top form physically due to his long season with Liverpool, so he started in his regular post,” assistant coach Tito Garcia revealed.

“Salah, with his great capacities, is capable of playing in any position and performing well.”

However, the DRC are no pushovers, even though they were victims of the one true shock so far in the competition, after being convincingly beaten 2-0 by Uganda in their opening game.

Captain Youssouf Mulumbu apologised to supporters for the “humiliating” defeat to a team ranked 80th in the world and previously without a win in the tournament since 1978.

And head coach Florent Ibenge concedes his side now have a mountain to climb if they are to advance, as they aim to avoid back-to-back group-stage losses for the first time since the 2004 edition.

“We had a bad game and deserved to lose against Uganda. Now we have to do it the hard way,” Ibenge said.

preparations were disrupted by a row over bonuses, with the Indomitable Lions squad staging a sit-in protest before departing for Egypt.

The five-time winners started slowly in Ismailia but grew into the game as the first half progressed, spurning several good opportunities to break the deadlock before the interval.

Christian Bassogog twice failed to hit the target from good positions, while Fulham midfielder Andre-Frank Zambo Anguissa sidefooted wide from Bassogog’s pass.

Full-back Joyskim Dawa Tchakonte and captain

Eric Maxim Choupo-Moting both forced fine saves out of Guinea-Bissau goalkeeper Jonas Mendes, before quickfire goals from Banana and Bahoken secured the win.

Piqueti went closest for Guinea-Bissau, heading against the post from Nadjack’s delivery.

Cameroon are next in action against fellow tournament favourites Ghana on Saturday

(18:00 BST), while GuineaBissau take on Benin later that day (21:00 BST).

Cameroon in flying start of AFCON title defence with win over Guinea Bissau

Super Eagles in Bonus Dispute ahead of Clash with Syli NFF thanks President Buhari after receiving AFCON

CBN Tennis: Blessing, Agugbom Cruise into Quarter Finals Women top seed at the ongoing Central Bank of Nigeria Senior Championship, Blessing Samuel yesterday cruised into the quarter finals when she beat Omolade Aderemi 7-5, 6-4 while number two seed, Christy Agugbom also recorded a two straight win over up-coming CBN junior Tennis champion, Oiza Yakubu.

Yakubu breaks into the senior ranks for the first time to join the likes of Marylove Edward and Angel McClod who are currently in the United States of America and Oyinlomo Quadri.

Yakubu who was unlucky to have been drawn against the national No 2 seed in her first game, got the first baptism of fire when she was bundled out in two straight sets, 6-0, 6-0.

Agugbom who was in her best form ever, faces Favour Moses in the quarter finals while top seed, Blessing Samuel engages unseeded Omotayo Osewa in the Round of 8.

Also in the women’s quarter finals are Aare Bunmi who engages Jumai Mohammed while Mary Tenu-Michaeli battles tournament fifth seed Aanu Aiyegbusi.

Meanwhile, in the men category, Shehu Lawal yesterday defeated Abubakar Jaminu 6-2, 6-0 to join the men’s singles second round train where the top seed, Sylvester Emmanuel and number two seed, Imeh Joseph are already waiting.

In the men’s doubles event, men’s top seed, Sylvester Emmanuel paired Clifford Enosoregbe to beat the duo of upcoming junior players, David John and Godgift Timibre in two straight sets and same goes to the duo of men’s seed 2, Imeh Joseph and Christian Paul as they beat the pair of Samuel Jonah and Kayode Savage 6-4, 6--4 to advance to men’s doubles Round of 16 as well.

Ikechukwu Iloputa also paired Maxwell Kesiye to record their men’s doubles victory over the duo of Osewa Michael and Olajimbiti Michael as Albert Bikom paired Nonso Madueke to beat Tosin Akinwunmi and Braimo Musa.

Action will commence in that wheelchair tennis category today.

Super Eagles players were in bonus dispute with officials of the Nigeria Football Federation (NFF) yesterday leading to Captain of the team, John Obi Mikel skipping the scheduled mandatory press conference to herald Nigeria’s second Group B clash with Guinea today.

The players were protesting against the non-payment of their $10,000 bonus for the win “My player (Ahmed Musa) couldn’t attend the press conference today because they have a very important meeting,” coach Gernot Rohr told reporters shortly after the conference.

“I just hope the situation can be resolved so we can focus on what we have in front of us.”

The squad was an hour late for training on Tuesday.

However, in a swift move to douse the tension generated by the non-payment of the allowance, the Federal Government released part of the money approved for participation of some national teams in international competitions, including the Super Eagles’ participation at the on-going 32nd Africa Cup of Nations in Egypt.

NFF’s Acting President, Seyi Akinwunmi (in the absence of President Amaju Pinnick who is fully involved with organization as President of AFCON) said on Tuesday that the federation received part of the money on Tuesday morning and had immediately launched the process

to convert the sum to American Dollars to pay the players their only outstanding entitlement – the win bonus for the match against Burundi in Alexandria on Saturday evening – and for subsequent matches.

“We want to specially thank His Excellency, President Muhammadu Buhari for his keen interest in resolving this matter quickly, which has enabled us to receive part of the money in record time. We have immediately started the process of converting the money to American Dollars at the Central Bank in order to pay the players the bonus for the win over Burundi three days ago as well as plan for subsequent games.”

Akinwunmi added that on Monday, 24th June, the NFF had transferred to the players and their officials their camp allowances up to the last day of the group phase matches at the AFCON 2019, as well as the appearance fee for the friendly against Zimbabwe in Asaba on 8th June.

“We have paid these monies through our funds managers, Financial Derivatives Company on Monday, 24th June 2019. The only issue we had was that some of the players did not send their bank accounts and instead authorized the bank to pay their monies to some other individuals. The bank requested clear authorization for this to happen.

GOtv Boxing Night 19: Skoro, Agbaje in War of Words Ahead of their impending clash, former African Boxing Union featherweight champion, Waidi “Skoro” Usman, and his next opponent, Taiwo “Esepo” Agbaje, the national champion, have launched a war of words.

Both boxers are due to clash in a national featherweight challenge contest at GOtv Boxing Night 19, scheduled to hold on 14 July at the Indooor Sports Hall of the National Stadium in Lagos.

Skoro, who lost a bid for the International Boxing Federation (IBF) Africa title to a South African last July, has boasted that Agbaje will be defeated in dismissive fashion. While admitting that the national champion is a good boxer, Skoro, however, boasted that he has too much ability for a boxer of Agbaje’s profile.

“Agbaje is good, but not great.

I have fought great boxers and he can’t be listed among such. He will

be defeated in the fourth round.

He is still many levels below the opponents I have defeated and therefore stands no chance,” said Skoro.

But the national champion believes that Skoro’s claim of superiority is empty.Agbaje, winner of the best boxer award at GOtv Boxing Night 16, said Skoro’s time has long gone.

“He is old and weak. I’m young, strong and quicker. I will show him that his time has gone. It is a waste of time to trade words with him.

Actually, I speak better with my fists and Skoro will hear me loud and clear when he starts feeling a rain of punches,” bragged Agbaje.

The bout is one of the nine scheduled for the event, which will be headlined by the international welterweight challenge between reigning West African Boxing Union (WABU) champion, Rilwan “Babyface” Babatunde of Nigeria

and Eden Biki of Ghana. Also in action on the night is Oto “Joeboy” Joseph,African Boxing Union (ABU) lightweight champion, who will take on Tope “Berinja” Agboola. Two

all-female bouts are also lined up for the event, where the best boxer will go home with a cash prize of N1 million alongside the Mojisola Ogunsanya Memorial Trophy.

Salah (right) failed to find his range against Warriors of Zimbabwe

WEDNESDAY JUNE 26, 2019 ˾ T H I S D AY

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WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com 08111813083

AFCON 2019 CRACKER

Nigeria Targets Knock out Stage Ticket as Eagles Play Guinea With the lone goal win in the opening match against Zimbabwe on Saturday night behind them, Super Eagles of Nigeria look set to be the first country to reach the second round phase of the AFCON 2019 tournament if they secure another win this afternoon against Syli Stars of Guinea.

The privilege to be the first country to reach the next stage is achievable, courtesy of early kick off of the Group B encounter which is ahead of other matches that could produce potential qualifiers later in the night.

The match at the 20,000 Alexandria Stadium, no doubt is the star match of the group considering the pedigree of the two nations in continental football although the Guineans are yet to win the precious title in all their years of participation.

After the 1-1 scoreline in their opening account against

minnows, Madagascar, the French West African nation will have to contend with putting in their best and avoid any slip against Nigeria whom her coach Gernot Rohr had promised a good fight after a rather not too impressive performance against Burundi last Saturday.

“We had some sick players coming here because of the weather when we’re training in Asaba. But I believe they will be okay and we can have fully fit team against Guinea in our next match,” stressed Rohr ahead of the cracker today.

The team is also boosted by the return of Samuel Kalu who has been declared fit to play for the team after his health problem last Friday before the opening match.

“Kalu had a problem on Friday when he fell sick as we are doing some drills on corner kicks. He was rushed to the hospital and fortunately, the

doctors said it was a problem of dehydration and not heart problem as many speculated.

“He is okay now and the morale of my players is very high and ready to move mountain against any opposition here including Guinea whom we face next,” the Franco/German tactician told journalists yesterday.

However, for the opposing coach Paul Put, he has a score to settle with Super Eagles going by the previous encounter against Nigeria in the competition.

While in charge of Stallions of Burkina Faso in 2013 edition of the tournament in South Africa, he was able to level score at 1-1 at group stage against Late Stephen Keshi’s

side but when both sides met again in the final match of the competition, it was Sunday Uba’s lone strike that gave Nigeria her third AFCON trophy win as against his then side who were gunning for their first continental glory.

A win for Super Eagles today and if Madagascar upset Burundi in the other group match tomorrow, Guinea will be in precarious situation

of elimination or has to go through the banana skin of third best losers’ spot.

Later tonight, Egypt and Uganda could secure their respective passage into the next stage if the host win against

DR Congo and Uganda do same with the match with Zimbabwe.

NIGERIA VS GUINEA HEAD TO HEAD

P W D Nigeria 14 4 6 Guinea 14 4 6

L GF GA 4 17 14 4 14 17

FEMI’S AFCON 2019 FLAKES Other Side of Samuel Kalu’s Recovery

The camp of Super Eagles here in Alexandria is still celebrating the clean bill of health given to Samuel Kalu. The news of the fact that he has been declared medically fit to remain with the team in Egypt was a sort of psychological boost ahead of today’s match with Guinea. Nigeria is plotting to retain the top spot of Group B regardless of the outcome of the group’s other match. Eagles clash with the Syli Stars is the star match of the group this afternoon. Wether Coach Gernot Rohr will have the courage to feature the pacy Girondins Bordeaux of France ace is a different matter altogether.

Setting the Record Straight about Adams Traore It’s no longer news that Eagles of Mali have scored more goals than any other team at the ongoing tournament in Egypt after their 4-1 bashing of debutants, Mauritania. The gist was that many were a bit confused that Adama Traore scored a brace in the match. Wrong. A check revealed that there are two registered players in the Malian side with same name. The first Adama in the stwarting line up scored the third goal for his side in the 55th minute and was substituted in the 61st minute by his name sake (Adama Traore) who scored the fourth goal for his side in the 74th minute. It’s a case of coincident or minor confusion!

Pressure on Pharaohs to Re-gig on Home Soil

After a not too convincing lone goal win in their opening match against Warriors of Zimbabwe, Egyptians want a tactical change in Pharaohs approach to their next match against DR Congo by saddling Liverpool man Mohamed Salah with more roles for the team. The UEFA Champions League winner last month with the Anfield side is leading the striking role instead of his conventional position of playing from the right side of the attack. Mo Salah will have a lot to contend with as the host nation hope to extend their record of always winning the trophy on home soil!

Fear of Sadio Mane Grips Group Rivals

Many fans were taken aback when Liverpool forward, Sadio Mane was missing in action in Teranga Lions of Senegal’s 2-0 win against Tanzania on Sunday. Hold your breath! The striker was on one-match suspension from the qualifying series and would be back in action when the team takes on Fennecs of Algeria on Thursday in the crucial second match of Group C. The forward was part of success story of Liverpool FC in the UEFA Champions League which they won early this month in Madrid, Spain.

Tunisia, First Top Seed to Draw

One of the tournament’s favourites and top seeded team at the ongoing tournament are the first team that failed to pick maximum points after their 1-1 scoreline with Angola in Group E opening match on Monday night.

It was the first draw by any of the top seeds since host Egypt, Nigeria, Côte d’ Ivoire and Senegal all won their respective opening matches.

The Tunisians had led with a penalty scored by Msakni in the 34th minute and could have doubled the lead only for Angola to score a late equaliser after Campos scored from a blunder by Tunisian goalkeeper, Farouk Ben Mustapha.

Super Eagles have put the victory against Burundi behind as they take on Guinea in Alexandria today

Heart Troubled Cameroonian Star to Go Kanu’s Way for Surgery Reminiscence of the 1997 episode of African football legend and Nigeria’s Nwankwo Kanu, Cameroon’s player, Joel Tagueu, will most likely opt for surgery to correct his defective heart detected after medical examinations in Qatar and Egypt.

He has had to leave the Cameroon Camp at the Africa Cup of Nations and head for Brazil to meet his club officials, Cruzeiro.

According to information

gathered by THISDAY Tagueu’s case can be corrected surgically.

A decision on surgery for the 25-year old player will be made

by Cameroon football officials and that of his Brazilian club.

Meanwhile, Cameroon has made a request to CAF to call in a replacement.

Tagueu has however expressed sadness with the news of his health and more especially now that he must give up his place in the team as the Indomitable Lions fight

to retain their Africa Cup of Nations title.

Reducing the risk of the unfortunate event of sudden death in the field is one of the main reasons for Tageu’s withdrawal.

Cameroon had already experienced a dark episode exactly 16 years ago in 2003 during the FIFA Confederation Cup in France with the death of Marc-Vivien Foe and are thus not ready to take any risks at the moment.

Tagueu hit the net eight times in 30 league appearances of which 24 starts were for his club CS Maritimo in the Portuguese Liga NOS this season.

Cameroon team doctor William Ngatchou detected an anomaly of an implantation of a coronary artery during their final preparation in Qatar and confirmed it in Egypt.

Cameron has launched an appeal to CAF for his eventual replacement.

Nominations Open for 2019 Nigerian Sports Award Organisers of Nigeria’s most prestigious sports award Nigerian Sports Award has announced opening of entries for the different categories of the 2019 edition of the award.

According to a statement issued and signed by the Executive Director, Nigerian Sports Award,Mr. Kayode Idowu, the nominations which heralds the commencement of activities for the 2019edition of the award will open on Wednesday, June 19, 2019 and ends on Sunday, October 13, 2019.

According to the statement, a total of 21 categories are open for nomination from the general public in this year’s edition of the award. These categories recognize individuals; males; female; physically challenged; continental participants; indigenous games, media and community builders.

They include; Racket Sports Person of the Year (Lawn Tennis, Table Tennis, Badminton and Squash), Team Sports Person of the Year (Handball, Volleyball, Football, Basketball), Combat Sports Personality of the

Year (Wrestling, Karate, Judo, Taekwondo & Boxing), Individual sports person of the year (Weight lifting, Athletics), Basketball player of the Year, Coach of the Year, Discovery of the Year, Footballer of the Year (Women), Footballer of the Year (Men).

Others include; Wrestler of the Year, School Sport Award, Para Sports Person of the Year, Team of the Year, Athletics Star of the Year, Sports Governor of the Year, Sportsman of the Year, Sportswoman of the Year, Sports Journalist of the Year (Radio),

Sports Journalist of the Year (TV), Sports Journalist of the Year (Print) and Sports Photo Journalist of the Year Idowu also stated that this year, nominations can be done through three channels; Online through the award official website - www. nigeriansportsaward.com/ nominations, the manual entries (hard copies) nomination forms available at all Sports Federation Secretariats across the country or via social media platforms (Twitter and Facebook) using each category hashtag.

Wednesday June 26, 2019

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CAN to El-Rufai “If the government refuses to listen to wise counsel to obey the court ruling on the bill to regulate preaching in the state, CAN will seek any alternative means of bringing further to the observing eyes of the world the hostile approach of the government of the day in Kaduna State as opposed to the tenets of religious freedom and choice� – The Kaduna State chapter of CAN warning Governor Nasir el-Rufai against assenting to the bill seeking to regulate preaching in the state.

ALIYU ABBATI ABDULHAMEED

GUEST COLUMNIST

Fields of Possibilities, Harvests of Benefits

O

ne of the most common questions that I get asked is: “How is agriculture in Nigeria really doing?� This is often followed by another question: “Is agriculture now a good area for investment or to pursue a career?�

Perhaps the best answer to the first question can be found in some appropriate metaphors.

Nigerian agriculture is currently an exciting field of great possibilities and awesome potential.

There are many shoots of promise and flowers of hope. Best of all, there is also an increasing number of significant harvests in many areas.

Yet, like in any farming enterprise, progress is hampered by stubborn weeds of many varieties that continue to cling on despite the efforts to eradicate them. But we can safely say that the sector is no longer defined by the weeds but by a growing number of harvests.

I can say this with confidence because my three years at the helm of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) have brought me up close and personal with Nigerian agriculture. I have inspected agricultural projects around the country, engaged with the financial sector at different levels, participated in brainstorming sessions within and outside Nigeria and interacted extensively with many players across agricultural value chains – from big investors to smallholder farmers. There is no doubt that agriculture and agribusiness have entered a significant stage which may turn out to be an inflection point but many challenges remain. I have no hesitation in giving a strong affirmative answer to the second question: from a business or career perspective, agribusiness is a great area to invest in or make a career out of.

The progress of the work that we are doing at NIRSAL provides a good perch to observe and calibrate the historic gains being made in this critical sector in the midst of significant challenges.

Established in 2011 by the Central Bank of Nigeria as a non-bank financial institution designed to appropriately define, price and share agribusinessrelated credit risk, NIRSAL has the mandate to increase the flow of finance and investment to all actors across commercially viable agricultural commodity value chains by de-risking and fixing the value chains and incentivizing the actors to good performance measures, agricultural and financial.

It is important to clarify that NIRSAL is not a lending institution. Rather, our job is to stimulate the flow of finance and investment into fixed and de-risked agricultural value chains, build long-term capacity and institutionalize incentives for agricultural lending leveraging our five strategic pillars: Risk Sharing, Innovative Insurance Product Development, Technical Assistance, Incentives and Rating. Thus, NIRSAL serves as a catalyst that enables providers of finance and investment to lend and invest in agribusinesses leveraging on its Credit Risk Guarantees and other Risk Management Products, Tools, Techniques, Methodologies and Strategic Partnerships.

NIRSAL’s core mandate is thus an urgent one because a critical challenge facing the sector is the reluctance of banks and other institutions in the financial sector to lend to agriculture. The gap in financing is a central issue because without the necessary resources, Nigerian agriculture cannot make the transition from subsistence farming to agriculture as a business.

The financial challenges that the sector continues to face are underscored by a 2018 National Bureau of Statistics (NBS) report which found that the oil and gas sector received N3.55 trillion - the highest allocation of private sector credit from the banks - which translates to 23.45% of the total. Manufacturing was second with 14.74%.

EmeďŹ ele Other sectors got less than 10%. Agriculture which employs about 70% of working Nigerians and is responsible for a quarter (25.13%) of Nigeria’s GDP received 4.03% These dismal statistics won’t change overnight.

The conditions that make short term, high return investments more attractive to the banks are not likely to disappear anytime soon. Neither will the historic challenges of subsistence farming such as farmland fragmentation and the low capacity of impoverished rural farmers to keep the kind of records that can inspire the confidence of sophisticated bankers. The difficulty of NIRSAL’s mission of creating a handshake between the financial and agricultural sectors can be better appreciated against this background.

Yet there is a strong basis for optimism. The progress that we have made over the past three years despite challenges is a metaphor for the overall progress achieved in the sector. Over the span of its existence thus far, NIRSAL has facilitated a total of over N86.03 billion into the sector. This was achieved by catalyzing funding into various value chains from the private sector – deposit money banks, the capital market, other categories of financial institutions, vendor financiers and other value chain actors.

The breakdown of the total amount leveraged

by NIRSAL Credit Risk Guarantees and other Agricultural Risk Management Tools and Products into Value Chain activities tells the story better: r B UPUBM PG / CJMMJPO JO UIF QSF VQTUSFBN segment of the agricultural value chain primarily to mechanization and agricultural inputs such as fertilizer, seeds and agrochemicals required before primary production. r PWFS / CJMMJPO JOUP UIF VQTUSFBN XIJDI is mainly the primary production of maize, cassava, soybeans, rice, cotton, poultry among other commodities. r / CJMMJPO NJETUSFBN TFHNFOU PG UIF agricultural value chain used predominantly in the processing of cassava, rice milling, cotton, oil palm, and cocoa.

It is also noteworthy that in line with the rigorous prudence that animates NIRSAL’s operations, these funds were facilitated with less than 1% risk crystallization or claims payout on NIRSAL’s core transactions.

NIRSAL’s track record reflects the upward trend in investments into the agriculture sector that has been gaining momentum recently. According to another NBS finding, foreign investment into the sector rose from $159 million (N57 billion) in 2017 to $289 million (N104 billion) in 2018.

As important as the funds that we have helped to direct into agriculture is, the fact that

NIRSAL has created over 400,000 jobs through its various interventions in the various value chains is worth noting. And we are working harder to improve on that figure. Just like the taste of the pudding is in the eating, in NIRSAL we believe that making measurable positive impact in the lives of benefitting individuals and communities is the best return on investment.

Clearly, the focus of the Buhari administration on agriculture which is amply reflected in both the Agricultural Promotion Programme (APP) and the Economic Recovery and Growth Plan (ERGP) is producing a healthy harvest of benefits for Nigerians. Following the collapse of global oil prices on the international market which plunged the Nigerian economy into a 25-year low in 2016, there has been a renewed focus on the agricultural sector, as the country attempts to diversify its economy away from oil. The rice revolution driven by the multi-pronged Anchor Borrowers’ Programme (ABP) of the CBN under the leadership of Mr. Godwin Emefiele, Chairman of the Board of NIRSAL, is a notable example.

The ban on rice importation combined with policy support for boosting rice cultivation is having a clear and measurable impact. The production of milled rice has spiked by about 60 percent as a result, from 2.5 million metric tonnes in 2015, to 4 million metric tonnes in 2017. According to Ministry of Agriculture figures, a total of six million jobs have been created in the agricultural sector under the current government through various initiatives.

As one of the Participating Financial Institutions in the ABP, CBN has authorized NIRSAL to bring the full complement of its institutional and strategic capacities to the programme. Our work on the ABP is a core commitment because empowering and improving the lives of smallholder farmers who constitute over 90% of Nigeria’s farming population should be a central priority of any plan to improve Nigeria’s agriculture. That is why we have concentrated our institutional firepower on fixing the agricultural value chains in order to provide a reliable platform for de-risking lending to the sector; mobilizing financing for agri-business through deploying credit risk guarantees to reduce defaults; providing technical assistance in pursuit of these objectives; and reducing the cost of loans for agriculture, etc.

To achieve a strong foundation for our ABP efforts, NIRSAL has conducted comprehensive verification exercises nationwide, matching the biometric details of farmers with their Bank Verification Numbers (BVN) for those who have account numbers and the creation of new ones for those who do not. Over 400,000 farmers have had their details captured nationwide in the NIRSAL farmer database, which serves as the pool from where beneficiaries of the programme are taken.

This process has produced encouraging results.

A few examples: thanks to the Central Bank of Nigeria, our owner, NIRSAL’s ABP efforts have helped to create over 415,000 direct and indirect jobs across the country. We have provided improved inputs and facilitated affordable, single-digit interest rate finance of N15.8 billion to 69,167 ABP farmers from the commencement of NIRSAL’s participation in the programme in 2017 to date.

Due to our robust risk management framework, the loan performance rate has also improved, and the likelihood of default by beneficiaries significantly curbed.

An innovation that we have introduced to the ABP is the creation of “geo-cooperatives�: using advancements in geospatial technologies to map the farmer to his/her farmland’s geographical coordinates under a cooperative arrangement with group governance put in place. The objective is to reduce the incidence of fake cooperatives with

fake land claims accessing the scheme.

ABP is not the only area that NIRSAL has focused its innovative efforts on. In fact, it’s no exaggeration to say that innovation is in NIRSAL’s DNA. It permeates NIRSAL’s operational blueprint: the Concepts, Plans, Projects and Results (CPPR) framework. This innovation mindset is anchored on a core conviction that the judicious deployment of science, technology and innovation to agriculture, agricultural financing and agricultural risk management is the game changer that can help leapfrog Nigeria’s agriculture from subsistence into the realm of higher and sustainable productivity.

Innovation is also present in NIRSAL’s insurance facility, one of our five pillars, designed to expand agricultural insurance products to reduce credit risk and increase lending to farmers. Prior to NIRSAL, agricultural insurance in Nigeria was simply indemnity based which only provided compensation equivalent to farmers’ cost of production in verified incidences of physical disasters and recorded low uptake.

Today, NIRSAL, working with a consortium of four Insurance companies and the Nigerian Agricultural Insurance Corporation (NAIC), has developed the innovative NIRSAL Area Yield Insurance Index product to protect farmers’ revenues from losses due to pest, diseases, adverse weather conditions and general drops in expected yields. So far, at a start-up scale, a total of 29,229 farmers cultivating 27,831 hectares have used the NIRSAL Area Yield Insurance Index product to protect a total harvest value of N6.49 billion with over N121.434 million paid out as compensation to the insured farmers that suffered low yields.

We have also assisted five insurance companies to secure approvals from National Insurance Commission (NAICOM) for the deployment of agricultural Insurance products.

NIRSAL, working with a consortium of local and international insurance actors, aims to create additional innovative insurance products including the Revenue Index, Hybrid Index and finally the NIRSAL Comprehensive Index Insurance product. Our goal is to expand insurance uptake by primary producers from 0.5 million to 3.8 million by 2026.

Innovation is at the heart of our Agricultural Primary Production Aggregation Service System (A-PASS), a project which is aggregating four million hectares of farmland into 16,000 NIRSAL agro geo-cooperatives of 250 hectares each. These agro geo-cooperatives will focus on the production of: Industrial Commodities (maize, soya, wheat, cassava and cotton); Export Commodities (Value added hibiscus, sesame, ginger and shea); Consumer Commodities (rice, sweet potatoes, and beans); Controlled Environment Agriculture Commodities (vegetables, aquaculture) and Integrated Livestock Commodities (beef, dairy, hides and skin).

Like other positive developments elsewhere, NIRSAL’s modest successes confirm that Nigeria’s agriculture is definitely on an upward trajectory. The current administration’s policy focus on agriculture is bearing significant fruits. There is much to cheer.

But there is no room for complacency because significant obstacles dot the path of sustainable agricultural transformation in Nigeria. For us at NIRSAL, the priority is to continue to escalate the rate of progress achieved in the execution of our core mission by facilitating more finance to the sector, boosting our support for smallholder farmers through the ABP and other bespoke programmes and expanding the footprints of innovation in other vital areas. t"CEVMIBNFFE JT UIF .% $&0 PG UIF /JHFSJB *ODFOUJWF #BTFE 3JTL 4IBSJOH 4ZTUFN GPS "HSJDVMUVSBM -FOEJOH /*34"-

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