MONDAY 28TH JUNE 2021

Petrol Subsidy Bites Harder, NNPC Proposes N114.3bn Deduction in June Under-recovery quadrupled in four months Emmanuel Addeh in Abuja Nigeria’s three tiers of government may have to look elsewhere to augment revenues accruing monthly from the Federation Account Allocation

Committee (FAAC) as the Nigerian National Petroleum Corporation (NNPC) is set to make another N114.2 billion deduction from oil revenues in June to pay for petrol subsidy.

A document obtained by

THISDAY from the Ministry of Finance, Budget and National Planning, detailing the NNPC’s presentation to the committee, which took place between June 22 and 23, indicated that as earlier reported,

the corporation, which has continued to shoulder the payment of what it calls under-recovery, deducted N126.2 billion from FAAC for May. What the NNPC has termed

under-recovery is the difference between the actual market rate of petrol and the price at which the commodity is sold at the pump, which the federation bears in order to keep the pump price stable

at N162 per litre.

However, whereas made zero contribution the Federation Account April, which was shared

it to in in

Continued on page 11

PDP Summons Emergency Meeting as Another Gov Defects to APC...Page 11 Monday 28 June, 2021 Vol 26. No 9576. Price: N250

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

Why Grazing Routes Are Difficult to Recover

Ibrahim Shuaibu in Kano, Laleye Dipo in Minna, Daji Sani in Yola and Igbawase Ukumba in Lafia The efforts by President Muhammadu Buhari’s administration to reclaim old grazing routes for herdsmen may be hampered by the building of roads, hospitals, schools and other public utilities on the ways carved out for feeding cattle in the 1950s, THISDAY investigation has revealed.

Contrary to the clamour for an end to open grazing and the need to adopt modern ranching techniques to curb incessant clashes with farmers, Buhari has insisted that the federal government will reclaim the old grazing routes for free movement of herders.

However, THISDAY’s investigation has revealed that the grazing routes have been taken over, over the years, by modern facilities built for the public good.

In Kano State, the state government has acknowledged that the grazing routes have been taken over by public infrastructure, including schools.

Following this development, the state Governor, Dr. Abdullahi Ganduje, has set up a Rural Grazing Area that is popularly known as (RUGA), as part of his government’s efforts to secure alternative grazing areas and accommodation for herdsmen.

Ganduje’s Chief Press Secretary, Mr. Abba Anwar, told THISDAY at the weekend that the RUGA in Kano has become the first cattle herders’ settlement in the country, where the nomads are to be accommodated for expansive grazing of their flock.

He stated that the first phase of 25 housing units out of the projected 200, situated on 4,413 hectares of land at Dansoshiya Forest in Kiru Council Area of the state has been delivered by the state government.

Anwar added that work is in progress on phase two and phase three of the project.

THISDAY gathered that at Falgore forest in Tudun Wada Local Government Area, the remnants of the cattle routes have been lost due to the infiltration of bandits and their attendant negative activities.

Ganduje, however, has

urged herders to stop open grazing and return to the state, saying there is now modern grazing of animals going on at Dansoshiya Forest.

He said the investments made by his administration in grazing areas would curb the recurring clashes between herders and farmers.

The governor added that fodder seeds, which will be cultivated at Dudduru in Ajingi Local Government Area will be planted at Dansoshiya Forest to provide feeds for cattle and other small ruminants.

Although Niger State has 11 grazing routes, covering about 1,865 kilometres, 1,368 kilometres of these routes are primary routes while the remaining 496 kilometres are secondary routes.

THISDAY gathered that the Magama to Rijau route is an international route linking the country with the Benin Republic from Borgu Local Government Area of the state.

But the Permanent Secretary in the state Ministry of Livestock and Fisheries Development, Dr. Jonathan Wasa, told THISDAY in an interview that all the routes have been encroached upon by major highways, private developers, including smallscale industries.

According to him, with the advent of development, cattle now share the major highways with motorists.

He stated that the state does not have the resources to reclaim the routes taken over by highways and other infrastructure.

Wasa said due to the encroachment on the grazing routes, the major focus of the state government is to organise nomads and others into groups and settle them in grazing reserves as being done in other parts of the world.

He stated that there are the Bobi grazing reserves, which span over 36,000 hectares located in Mariga and Magama local government areas.

In addition, the state government has also designated seven other reserves. These include: Audi Kanchi in Lavun LGA, Sheyi in Shiroro LGA, Garin- Gabas in Rafi LGA, Gabi in Lapai Ndadokun and Kpotun Woro in Agaie LGA and Iri in Rijau LGA. "We are advocates of

ranching but it has to be done gradually; it cannot be done abruptly," Wasa added.

In Adamawa State, the Permanent Secretary of the State Ministry for Livestock Production, Alhaji Abdulrahman Tukur, told THISDAY that the state government had set up a committee to address the frequent clashes between farmers and herders.

He said the committee had submitted its report to the state government in which is recommended, among others, that the state government should reclaim the grazing reserves for the settlement of herdsmen and stop their movements.

Tukur said the old grazing routes had been taken over by schools, primary healthcare centres, roads, petrol stations and other facilities, which will not allow for movement of cattle.

He said the ministry had earlier before the wet season set up a committee for each of the 30 grazing reserves gazetted and identified in the map of the state to sensitise stakeholders on the plan to reclaim the grazing reserves to settle the herders.

He explained: "The committees are working with already list of encroachers on the grazing reserves and discussions are in top gear to reclaim these grazing reserves.

"Those farmers that are farming on the grazing reserves; we allow them to continue farming temporarily but when they do their harvest, they would allow the herders’ cattle to feed on the residues of their crops until we make the condition better for herders and stop them from movement."

In Nasarawa State, THISDAY gathered that the state government has

donated all the seven grazing reserves located at Awe, Keana, Doma, Assakio, Konva, Gitata and Kurudu to the federal government for the National Livestock Transformation Programme (NLTP), as part of the efforts to stop the free movement of cattle.

The Commissioner for Agriculture and Water Resources, Prof. Alanana Otaki, told THISDAY that the state government has succeeded in claiming all gazetted cattle grazing reserves in the state without hitches.

The Sokoto State Government has also reclaimed the grazing reserves to settle herdsmen.

In a telephone interview with THISDAY, the Commissioner for Careers and Security matters, Col. Garba Moyi (rtd), said the reserves were inside the forests.

"For us in Sokoto, the policy is not new to us. I could recall

when I was a local government chairman some years ago, I introduced the policy which was also adopted by other local governments in the state," he said.

Moyi added:" “Most of these grazing reserves are in the bush and we directed the Fulani to graze on any crop planted on them.”

Also, the Zamfara State Government stated that it would use the grazing reserves to resettle the herders, being the worst hit by the clashes between herders and farmers.

The Special Adviser on Media and Public Enlightenment to the Governor, Mr. Zalaini Bappa, said even some former governors who trespassed on the grazing reserves returned the land.

According to him, the state government has also started building Ruga for the Fulani in order to prevent clashes between herders and farmers.

TAX GURUS AT THE VILLA...

President, Chartered Institute of Taxation of Nigeria, Mr. Adesina Adedayo (left), and Vice President Yemi Osinbajo (SAN) during the visit of a delegation from Chartered Institute of Taxation to the Presidential Villa, Abuja...yesterday godwin omoigui

Army Chief Orders Troops to Destroy Insurgents’ Enclaves in North-east Kingsley Nwezeh in Abuja In a renewed drive to rout terrorists from the North-east and bring the insurgency war to an end, the Chief of Army Staff (COAS), Maj. Gen. Farouk Yahaya, at the weekend, charged troops in the Theatre of Operation Hadin Kai (OPHK) to intensified efforts at dislodging ISWAP and Boko Haram terrorists from the region.

The army chief, who is on his maiden operational tour of the North-east, had in an earlier tour of Yobe State on Friday ordered troops of Sector 2 Joint Task Force North-east Operation Hadin Kai to destroy all Boko Haram and Islamic State West Africa Province (ISWAP) enclaves in

their various locations.

He directed them to use their wealth of experience and lessons learnt from the series of operations conducted to "destroy the remnants of marauding terrorists within their various locations."

He assured them of improved welfare and a new reward system for troops who perform gallantly in any operation.

A statement yesterday by the Director, Army Public Relations, Brig. Gen. Onyema Nwachukwu, said the army chief gave the charge while addressing troops of Sector 3 Operation Hadin Kai/ Multinational Joint Task Force (MNJTF), Monguno, Borno State.

Yahaya, who lauded

the level of discipline and commitment to duty exhibited by troops of the sector, however, admonished them to be apolitical, decisive and circumspect in all their operational engagements.

He "tasked both officers and soldiers of the sector to conduct decisive offensive operations against the terrorist groups marauding in the theatre of operation".

He charged them to "sustain the aggressive tempo of the operations and keep the flag flying, in order to bring the insurgency to an end in the north-east".

The COAS was accompanied during the tour by the Chief of Operations (Army) Major General Ibrahim Yusuf, Theatre

Commander Operation Hadin Kai, Major General Christopher Musa, the Provost Marshal (Army) Major General Robert Aiyenigba, Chief of Military Intelligence (Army) Brigadier General Danladi Salihu, Maritime Component Commander OPHK, Commodore Richard Shammah, among other principal staff officers.

The army chief, had, during his recent visit to the Shehu of Borno, His Royal Highness, Alhaji Abubakar Ibn Umar Garbai El-kanemi, and members of Borno Emirate in his palace in Maiduguri, said traditional institutions were critical to the success of the ongoing operation to end Boko Haram insurgency and terrorism in the North-east.

Yahaya had said he was pleased to be at the Shehu's palace with principal staff officers from the army headquarters to pay respects and homage to the revered traditional ruler.

He said he arrived at the state earlier in the day on an operational visit to the theatre and felt it was an honour to visit the Shehu as a father, leader not only in Borno but also in the country, to receive a royal blessing for the task ahead of him.

He appreciated the support of the royal father and the entire Emirate even while he was in the state as the Theatre Commander, Operation Hadin Kai before his appointment as the 22nd Chief of the Army Staff.

He noted the support of the royal father and the emirate had led to some of the successes recorded in the operations against the terrorists.

He solicited more support.

The Shehu of Borno, Alhaji Abubakar Ibn Umar Garbai El-kanemi, had, in his remarks, commended the military for the gradual return of peace to the state and North-east.

He said 17 of the 27 local government areas previously occupied by Boko Haram terrorists some years ago were recaptured and civil authority restored.

He urged the COAS not to be deterred and pledged the support of the emirate to the army leadership and military generally.

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Eliminate Multiple Taxations to Enhance Businesses, OPS Tells Govs Osinbajo laments economic downturns, seeks improved tax net

Deji Elumoye in Abuja and Dike Onwuamaeze in Lagos Some members of the organised private sector (OPS) have advised state governors to eliminate multiple taxations and introduce measures to further improve Ease of Doing Business (EoDB) in order to attract investors and promote economic growth.

This is coming as Vice President Yemi Osinbajo has said Nigeria has faced severe economic downturns, hence the need to widen the tax net so that more people who are eligible to pay tax can pay.

The advice by the OPS followed the recent EoDB report released by the Presidential Enabling Business Environment Council (PEBEC), which ranked Gombe State number one among the 36 states with an overall average score of 7.69 out of a maximum score of 10.

According to officials of the Nigerian Association of Chambers of Commerce and Industry (NACCIMA), Nigerian Employers’ Consultative Association (NECA), and financial experts, who spoke to THISDAY, state governments should focus on eliminating multiple taxations, improving electricity supply, transportation, security and investment promotion, to ease doing business.

They also called for streamlining tax administration, introduction of legislation to provide a legal framework for doing business in their respective states, creation of business councils to render one-stop-shop for business registration, and the creation of industrial parks and the development of rural infrastructure, especially in the areas of transportation and electricity.

A Professor of Economics and Public Policy, University of Uyo, Akwa Ibom State, Professor Akpan Ekpo, told THISDAY that state governments should create investment councils that would reduce bureaucratic bottlenecks investors encounter while doing business at the subnational levels.

Ekpo added that state governments should task their legislators to enact an appropriate legal framework for doing business, which is among the things that matter much to investors.

He said: “Most states

do not have the legal framework for doing business. Very few states have an investment council, or outfit, where those wishing to do business will approach to do everything.

Also, in most states everything revolves round the governor that nothing moves if an investor could not see the governor.”

Ekpo also advised the state governments to generate their own economic statistics to provide information on specific economic indicators like inflation rate, GDP, rather than relying on the National Bureau of Statistics (NBS).

He said: “In those days, the state governments used to have their own data. Now, they no longer have them. They depend on the National Bureau of Statistics (NBS). But these are important because genuine foreign investors look for these things.”

In his contributions, the Director-General of the NECA, Mr. Timothy Olawale, urged the state governments to pursue policies to support businesses and enable their respective state economies to boom rather than policies that are revenuedriven at the detriment of productive activities that are creating jobs.

Olawale also advised the state governments to modify their system of taxation that are unnecessary in 21st century governance system and avoid multiple collections that tax same item of income severally.

He said: “The focus of state governments should be on making and implementing businessfriendly policies and law.

There should be policy coherence and consistency that prioritise investments, protection of lives and properties.

“State governments need a continuous and symbiotic collaboration with the umbrella body representing the interests of organised private sector in the sub-national in policy formulation, administration and implementation.”

NACCIMA advised the states to focus their efforts on improving the EoDB on their areas of comparative advantage in order to attract and encourage investment from the private sector and foreign investors.

Also, the DirectorGeneral of NACCIMA, Ambassador Ayo Olukanni, told THISDAY that “a state that is endowed with agricultural potential and wants to

HOME BOY...

Oyo State Governor, Mr. Seyi Makinde (left), and Olubadan of Ibadanland, Oba Saliu Adetunji, during the 41st Omo Aj'orosun Club Day in Ibadan...yesterday

harness its potential in the area of agriculture and agric business must pay attention to issue of land acquisition, among others. "Likewise a state that is endowed with mining resources must have an agency with competency in the area of mining administration and capacity development of technical and professional skills in that area.”

On his part, the Chief Executive Officer of the BIC Consultancy Services Limited, Dr. Boniface Chizea, harped on the need for the states to evolve friendly system of taxation that should not put pressure on enterprises with multiplicity of taxes.

Chizea said the tax burden, as a matter of policy, should “be spread with a view to broaden the tax net. Moreover, state governments should streamline the procedures for getting business permit and Certificate of Occupancy within predictable and reasonable time frame and also develop industrial park and business centres where people can stay and do business.”

He also said that, “state governors must have security outfits that can take the fight to the bandits without allowing them to deliver the first strike because the current wave of violent crime does not help the EoDB.” Similarly, a Professor of Economics and Chairman of the Goldmark Education Academy, Prof. Mike Idi Obadan, said state

governments should focus on the development of rural infrastructure, especially independent power projects, rural electrification programmes and rural roads that would enable the Micro, Small and Medium Enterprises (MSMEs) to thrive and farmers to go to their farms and take their products to the market.

“Transport infrastructure is weak in the rural farming communities. So, they should concentrate on developing rural infrastructure as a basis for encouraging the people in the area of agriculture and agric business,” Obadan said, adding that state governments should “address the prevalence of multiple taxations on the MSMEs that choke them almost out of existence by rationalising them in order to motivate investors.

“Moreover, insecurity should not be seen as solely federal government’s problem as they affect state and local governments.

They should establish security networks and vigilante groups because without peace and security there cannot be development.”

Osinbajo Laments Economic Downturns, Calls for Improved Tax Net Vice President Yemi Osinbajo has said Nigeria has faced severe economic downturns, hence the need to widen the tax net so that more people can pay tax.

Osinbajo made the call while interacting with a delegation of the Chartered Institute of Taxation of Nigeria (CITN), led by its President, Mr. Adesina Adedayo, who visited him at the weekend, at the State House, Abuja.

He said: "We have had severe economic downturns, which of course imply that we may not be able to collect taxes with the aggressiveness that would ordinarily be expected. Several efforts have been made, including the Voluntary Assets and Income Declaration Scheme (VAIDS), which was also an attempt to bring more people into the tax net, including those who have foreign assets. We have also recently taken a step with respect to a lot of the technology companies that are not represented here but who do huge volumes of business here."

According to him, the Finance Act has shown the commitment of government to ensure that the big technology companies do not escape without paying their fair share of taxation in Nigeria.

He added that many of the firms do high volumes in Nigeria and in other parts of the region.

He said: "We have drawn up the regulations and we are prepared to go, and I think that we are at least in a good place to tap into some of the tax resources we can get from some of these companies."

He stated that the federal government has no plans

to raise taxes now, adding that there are those who argue that Nigeria's tax rates are too low, when compared to other places in the region where the rates are much higher.

This, he said, called for balance because higher tax rates can be a disincentive to businesses and investments.

He also emphasised the need for regular interaction between the council and government to address issues bordering on tax legislation, adding that there is need for continuous engagement with the National Assembly.

Earlier, Adedayo, had commended the efforts of Osinbajo in the implementation of key government interventions in the economy.

He said the visit became necessary given the enormous work the Buhari’s administrationhad done towards addressing the huge fiscal challenges in the polity, public financing reforms, and sustained efforts towards addressing infrastructural deficit across the country.

He added that the Nigerian Economic Sustainability Plan (NESP) and other measures implemented was a right response to the challenges posed by COVID-19 pandemic and were largely instrumental to creating buffers for the government at all levels in withstanding the pressures and waves created during the peak period and the aftermath of COVID-19.

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PDP Summons Emergency Meeting as Another Gov Defects to APC Matawalle to defect to APC tomorrow

Chuks Okocha in Abuja and David-Chyddy Eleke in Awka The National Working Committee (NWC) of Peoples Democratic Party (PDP) has summoned an emergency meeting today to discuss the planned defection of the Zamfara State Governor, Hon. Bello Matawalle, to the All Progressives Congress (APC) tomorrow.

In an announcement yesterday by the Commissioner for Information, Mr. Ibrahim Dosara, the state government invited the governor's supporters to witness the defection.

The statement further said the Kano State Governor, Dr. Abdullahi Ganduje, and other APC stalwarts would receive the Zamfara State governor into APC. The Director-General of Media in the state, Mr. Idris Yusuf, had earlier yesterday told THISDAY that the governor would address journalists on the issue tomorrow.

But the PDP said yesterday that Matawalle had not informed it that he was defecting to the APC.

National Publicity Secretary of the PDP, Mr. Kola Ologbondiyan, told THISDAY: "All I can tell you is that an emergency meeting of the party will take place on Monday and the report of the defection will be discussed.

"Also for now, the governor has not informed the PDP that he is leaving the party."

However, concerns have been raised that it would be legally impossible for Matawalle to defect.

The reason is that the Supreme Court’s decision, which ceded the Zamfara State governorship to the PDP immediately after the 2019 elections, did not consider any individual in arriving at the decision but the party.

The judgment of the Supreme Court is believed to have made the opposition party the owner and sole beneficiary of the governorship and not Matawalle.

Already, arrangements are said to have been perfected for the governor to defect to the APC tomorrow, and he is expected to be received by the ruling party’s National Caretaker Committee Chairman and Yobe State

Governor, Mai Mala Buni.

Also, as a prelude to the defection, Matawalle had on May 31, sacked his cabinet, including the commissioners, special advisers, the Secretary to the State Government, chief of staff and the deputy chief of staff in other to be able to accommodate some members of the APC in the new calculations.

THISDAY gathered that the cabinet sacking was to prevent some commissioners from refusing to defect with him and avoid the kind of backslash experienced in Ebonyi and Cross River States, where some commissioners and aides refused to go to the APC with their former principals.

The governor, it was learnt, has been promised a return ticket for 2023. He is currently serving his first term in office.

In 2019, the APC won all the state and national elections in Zamfara State, the PDP came second but due to the Supreme Court judgment, the PDP inherited the victory across the board.

The state was considered an APC state and it was, therefore, to ensure his re-election in 2023 that Matawalle was being poached

to defect to the APC. Another party source also hinted: “There is no free ticket for him in the APC by 2023, as the former governor of the state, Mr. Abdulaziz Yari, and Senator Kabir Marafa have reconciled and will surely give him a fight.”

The source said it was not certain if all PDP senators and members of the House of Representatives that benefited from the Supreme Court’s judgment would be willing to defect with him.

The source said: “If the governor defects what will happen to the governorship ambition of Senator Marafa?

Will he subdue his ambition that caused his initial political feud with former governor Yari or will he go back to the Senate? If he decides to go to the Senate, what will happen to the current senator that is from the PDP?” Yari, Zamfara’s immediate past governor, is plotting to become the national chairman of the APC, and has been at daggers-drawn with Matawalle, who became an unexpected beneficiary of the APC crisis in the 2019 primaries in the state.

A PDP source said the party was in possession of

an intelligence report that the Zamfara governor had gone as far as seeking the opinions of some top judicial officers who had told him that leaving the PDP could cost him the seat, based on the Supreme Court’s judgment of 2019.

Anambra Congress Complied with INEC’s Rules, Says Secondus Meanwhile, the National Chairman of the PDP, Prince Uche Secondus, yesterday said the party complied with the directives of the Independent National Electoral Commission (INEC) in the conduct of the governorship congress that elected Mr. Valentine Ozigbo as the party's candidate for the November 6 governorship election.

Secondus told THISDAY that when the party received the letter from INEC directing for compliance, a meeting of the National Working Committee was summoned and it was agreed that the congress election for the election of the governorship candidate should be based on the party's constitution.

He said: "There are two courts of concurrent jurisdiction issuing different orders, so under the circumstances, we have to remove the list of the threeman ad-hoc delegates that is being complained of.

"The NWC also went a step further to dissolve the state executive committee with powers derived from the constitution and in the process directed the South-east zonal executive to liaise with the Governor Samuel Ortom committee to organise the congress with the automatic delegates.

"The National Publicity Secretary of the party, Mr. Kola Ologbondiyan, issued a statement to that effect. So, we are on the safe side of the law."

Meanwhile, leaders of PDP in Anambra State have congratulated the winner of the party's Saturday primary election in Anambra State, Ozigbo.

The PDP leaders included a former governor of the state, Mr. Peter Obi; Dr. Ifedi Okwenna, who was one of the governorship aspirants; and the party’s governorship candidate in 2017, Mr. Oseloka Obaze.

PETROL SUBSIDY BITES HARDER, NNPC PROPOSES N114.3BN DEDUCTION IN JUNE May, the national oil company managed to remit about N29 billion from its finances to the joint account in May cycle, which was distributed among the three tiers last week.

For January to May's funding performance, the data showed that underrecovery or subsidy claims deducted from oil revenues by the NNPC amounted to N25.374 billion in February, N60.396 billion in March and N61.966 billion in April.

But it rose astronomically to N126.298 billion in May before falling to N114 billion in June.

These implied that the deduction by the NNPC more than quadrupled from the N25.374 billion in February to N114 billion in June.

This development has justified the clamour for the full deregulation of the downstream sector of the oil and gas industry to allow market forces to determine the price of petrol.

However, the NNPC remitted a marginal net sum of N29.647 to FAAC in May, which was shared in June, as opposed to its zero contribution in April, its N90.860 billion in January, N64.161 billion in February and N41.184 billion in March.

To date, according to the document, the NNPC has been able to contribute a net sum of N225.852 billion to the federation for the year, out of its yearly projected remittance of N1.473 trillion and monthly value addition of N122.7 billion, leaving a variance of N820.684 billion.

The presentation, signed

by Mr. Bello Abdullahi, on

behalf of the NNPC's Chief Financial Officer (CFO), Mr. Umar Ajiya, showed that the N50 billion, which is part of the corporation’s financial obligations to its Joint Venture (JV) partners, meant to have been subtracted from the latest round of deductions remains pending.

Gross revenue from JV crude, gas and other receipts for May was N320.314 billion, less royalty of N58.3 billion, JV cost recovery of N124 billion, Profit Before Tax (PBT) of N104.4 billion, to yield a profit after-tax value of N33.26 billion.

The document showed that for April, crude oil and gas sales and receipts, available in May and shared in June, the volume of export crude oil stood at 2.78 million barrels with a monetary value of $181.191 million and equivalent of N69.360 billion, while domestic crude oil due in July was 6.63 million barrels and sold at $434.8 million. Added to export crude oil, the revenue generated was $616.037 million.

NLNG feedstock gas was 27.605 MBTU valued at $38.5 million or about N16.011 billion while the total oil and gas sales stood at $654.601 million or roughly N85.3 billion, according to the corporation.

In May, export crude oil receipt was $167.7 million, about N64.2 billion, NLNG feedstock gas amounted to $34.31 million, the equivalent of N13.17 billion, while the gas company’s paid arrears stood at N623.4 million, to hit a total of N77.96 billion for the receipt from oil and

gas for the month.

All the transactions were hinged on N382.80 to one dollar exchange rate as advised by the Central Bank of Nigeria (CBN), according to the national oil company.

The report said: “The sum of N126,298,457,944.36 was deducted as value shortfall resulting from the difference between the landing cost and ex-coastal price of PMS (petrol) recorded in April 2021.

“In addition, May value shortfall of N114,337,097,352.49 is to be deducted from June federation proceeds in July 2021 FAAC meeting.

Also, the balance of March 2021 value shortfall of N50,000,000,000.00 remains outstanding.”

It stated that the overall NNPC crude oil lifting of 9.42Mbbls (export and domestic crude) in April 2021 recorded 23.59 per cent increase relative to the 7.62MbbIs lifted in March, while Nigeria maintained 1.4 million bpd Organisation of Petroleum Exporting Countries (OPEC) production cut in April 2021.

“Crude oil export revenue received in May 2021 amounted to $167.72 million, equivalent to N64.2 billion.

Domestic gas receipts in the month were N2.9 billion.

Feedstock valued at $38.56 million was sold to Nigeria LNG during the period, out of which $34.32 million was received during the month, the difference being Modified Carry Agreement (MCA) obligations, gas reconciliation and credit notes.

“The sum of $16.53 million,

being miscellaneous receipts, gas and ullage fees and interest income was received in May 2021,” it stated.

A total loss of 4.527 million barrels of crude was recorded during the month due to shut-ins, repairs, leaks, power outages as well as shutdowns due to protests as a result of non-payment of community workers’ salaries in Batan station and Olomoro, Uzere and Kokori.

Other issues resulting in shutdowns included seawater pump trips, technical issues like high gas to oil ratio or production deferment due to vessel swap.

Of the government ‘calendarised’ priority projects worth $2.680 billion, given a $536 million monthly budget, the NNPC stated that it had so far funded the projects by $636.472 million from January to May. The document showed an outstanding balance of $1.464 billion in JV cash call arrears to International Oil Companies (IOCs) as of May 31, with the NNPC having offset $3.22 billion from a total negotiated debt of $4.689 billion.

The national oil company told FAAC that it spent N2.263 billion on security and maintenance, N1.580 billion on pipeline and other facilities repairs as well as the payment of a “strategic holding” of N304.183 million, totalling N4.148 billion in May. In addition, it spent N4.412 billion on national domestic gas development, N3.91 billion on gas infrastructure development, N659 million

on crude oil pre-export inspection agency expenses, N3.2 billion on frontier exploration services and N196 million on renewable energy development.

Besides, the corporation said it expended N5 billion on export financing, N8.3 billion on the non-functional refineries and N83.3 billion on the ongoing Nigeria/ Morocco pipeline.

Depot price of fuel remained at N128, while 1.885 billion litres were imported and landing cost for the 35 import vessels that brought in fuel ranged from N185.17 to N199.90.

Last week, NNPC told the nation that Nigeria now loses about 42 million litres of petrol to smuggling through the country’s borders, increasing Nigeria’s estimated daily consumption of 60 million litres to 103 million litres.

With the menace now gaining more momentum and illegal dealers more daring, the national oil company stated that the under-recovery or the subsidy that the government pays on the product every month has begun to hover between N140 billion to N150 billion.

The development has made the corporation unable to contribute to the national coffers, as the subsidy it pays has kept wiping out the little gains made from rising international oil prices, which has now exceeded $75 per barrel.

Speaking when he met with stakeholders, including the leadership of the Economic and Financial

Crimes Commission (EFCC), Department of State Service (DSS), Nigeria Customs Service (NCS) and chief executives of agencies in the petroleum ministry, Group Managing Director of the corporation, Mallam Mele Kyari, said smuggling had gone beyond what the NNPC could handle.

He stated that with the current exchange rate, the pump price of petrol should be N256 per litre, adding that if the NNPC was to sell at the going rate, and incorporating the current exchange rate, fuel would be selling for about N256 a litre.

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MONDAY, ͺ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

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NEWS

Niger Delta Avengers’ Threat Unnecessary, Says Presidency Deji Elumoye in Abuja The Presidency yesterday described as unnecessary, the threat by the Niger Delta Avengers (NDA) to bomb oil installations if some of their demands are not met by the federal government.

It, however, said it was curious that the threat came barely 48 hours after President Muhammadu Buhari met with the leadership of the Niger Delta and Ijaw National Congress (INC), at the State House, Abuja during which they discussed crucial issues, especially the call for restructuring of the federation and the inauguration of a board for the Niger Delta Development Commission (NDDC).

A statement yesterday by the

media adviser to the president, Mr. Femi Adesina, said the media was yesterday awash with threats and demands

by Niger Delta Avengers to embark on economic sabotage through the bombing of critical oil and gas installations unless certain demands, including the development of the Niger Delta, and restructuring were met.

Adesina said for clarity and record purposes, the full text of the speech by President Buhari on Thursday, June 25, 2021, had rendered “any sabre-rattling rather unnecessary.”

He quoted the president as saying during his meeting with the leaders of the Niger Delta that “as the symbol of the collective voice of the Ijaw people, which is one of Nigeria’s main ethnic groups, the existence

of a focused and people-oriented leadership would go a long way in articulating the demands of the Ijaw people and make sure these demands are made part of the national discourse.”

Buhari, according to his spokesman, also said that he noted the 10- point demand to the federal government in the inaugural speech of the leaders and promised that “this administration is frontally addressing them.”

Adesina added that Buhari also stated that he was concerned about the rate of environmental degradation in the Niger Delta, and informed his visitors that “as you are aware the hydrocarbon pollution remediation project has started work with remediation efforts in Ogoni land and I have directed

the Minister of Environment to ensure that the projects are implemented with a high percentage of local content and inclusion of the surrounding communities”.

In addition, Buhari told his visitors that the National Oil Spill Detection and Response Agency was working to make sure that oil spills are reduced and new ones prevented.

Buhari had told Niger Delta leaders that all the agencies of government had been directed to ensure that they enforce compliance by the international oil companies (IOCs) to international best practices.

“In addressing your call for immediate restructuring, the National Assembly whose responsibility it is to ensure

that our constitution responds to the call for a restructured Nigeria has already concluded regional consultations and as soon as they finalise the process, necessary action would not be delayed on my part,” Adesina quoted Buhari as saying.

He added that the president had also reminded the leaders that their call for the creation of two additional states and more local government areas for the Ijaw people was a legislative matter, which should be handled by the National Assembly and seeking concurrence at the state levels.

“I completely agree with your call to allocate operational licences for marginal fields to Ijaw people. However, as you know, the process of granting licences is guided by laid down

rules and regulations, most of which even favour local content and local contractors. I see no reason why they should not be granted such licences if they qualify,” Adesina quoted Buhari as saying.

On the issue of fair and balanced appointments to reflect federal character principles, Buhari was said to have re-affirmed that this had always been his focus and would continue to be because he had always seen Nigeria as a country where everyone should be given equal opportunities.

The president, according to Adesina, had also promised that as soon as the forensic audit report of the NDDC was submitted and accepted, the NDDC board would be inaugurated.

APC Stakeholders Reject Tenure Extension for Caretaker Committee Adedayo Akinwale in Abuja A group, Concerned All Progressives Congress (APC) Stakeholders, has questioned President Muhammadu Buhari’s power to extend the tenure of the party's National Caretaker/ Extraordinary Convention Planning Committee.

The committee, led by the Governor of Yobe State, Mai Mala Buni, was inaugurated on June 25, 2020 to run the affairs of the party after the sacking of the Adams Oshiomhole-led National Working Committee

(NWC) following a protracted leadership crisis.

However, the tenure of the committee that was supposed to be for six months to reconcile aggrieved members and conduct convention for the party has now been elongated for the third time.

Reacting to the tenure elongation, the spokesperson of the group, Mr. Abdullahi Dauda, told THISDAY that his group disagreed with the tenure elongation given to the committee, saying the party is not a one-man show.

He said: "About the tenure elongation given to the Buni committee, we totally disagree because this party is not a one-man show or investment.

APC as a political party is an institution governed by a constitution, anything out of the constitution, we will not agree, and everybody has to think."

He wondered why a party that promised to respect law and order, decided to discard its own constitution in order to grant an extension to the committee.

Dauda said: "As I am talking to you now, we are just coming out from a meeting about the issue, we are not happy. With due respect to Mr. President, he has no power; even the constitution has not given him such power without the National Executive Council (NEC). But the problem is from those people; they only went to the president and lied to him."

According to him, he sometimes wondered why Buhari, who is known as a man of principle, can take such

a decision since the party is not a one-man investment.

"How can one man make a decision without proper consultation with NEC? It is totally wrong," he said.

Dauda stated: "We are going to draw the attention of the president and the party elders.

As a party member, you have to write a letter to the party leaders and the president because they misguided the president. That's why he made that decision. Maybe Mr. President doesn't know anything about the constitution

of the party."

Asked if the decision would be challenged in court, he said they would decide on the next line of action when the time comes.

Dauda added: "There is nowhere in the constitution that gives Mr. President the right to give them tenure elongation. Mr. President is always claiming he is a man of principle, he is a man of law and order, where is the law and order, where is the principle for violating the constitution?”

UK Financial Watchdog Bans Crypto Exchange, Binance Obinna Chima with agency report The United Kingdom’s financial watchdog, the Financial Conduct Authority (FCA), has ordered Binance to stop all regulated activities in Britain and imposed stringent requirements in a stinging rebuke of one of the world’s biggest cryptocurrency exchanges.

According to Londonbased Financial Times, the intervention by the FCA in recent days has been one of the most significant moves any global regulator has made against Binance, a sprawling digital asset firm with subsidiaries around the world.

The exchange has until Wednesday to confirm it has complied with the watchdog’s demands.

The report said the intervention was a sign of how regulators were cracking down on the cryptocurrency industry over concerns relating to its potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection.

In Nigeria, the Central Bank of Nigeria (CBN) had in February directed banks and other financial institutions to close any accounts dealing in cryptocurrency or facilitating payment for cryptocurrency exchange. Binance was also affected then.

The CBN had then stated that it was investigating the company’s bank accounts with the intention of blocking those with suspicious transactions and fraud.

But the FCA at the weekend issued a consumer warning against both the Cayman

Islands-registered Binance Holdings Company and Binance Markets Limited, a London-based affiliate that is controlled by Chief Executive Changpeng Zhao and is overseen by the UK regulator.

“Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said, adding: “No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct a regulated activity in the UK.” The group did not immediately respond to an FT request for comment, but has previously said it “takes its compliance obligations very seriously, and is committed to following local regulatory requirements wherever we operate.”

Binance Markets Limited is not approved under the FCA’s

cryptocurrency registration regime, which is required for UK groups offering digital asset services.

The entity had applied to become a registered cryptocurrency company with the regulator, but pulled that application last month according to two people familiar with the situation.

The watchdog confirmed the application had been dropped “following intensive engagement from the FCA”.

The FCA’s focus in deciding whether or not to approve such applications is based on a review of controls and practices to prevent money laundering and the financing of terrorism.

Binance is one of the most important operators in the fast-emerging crypto market, offering a wide range of services to customers around

the world, including trading in dozens of digital coins, futures, options, stock tokens, as well as savings accounts and lending.

It recorded crypto trading volumes equivalent to $1.5 trillion last month, according to data from TheBlockCrypto.

As part of the FCA’s actions, the regulator ordered Binance to display by next Wednesday on its website that, “Binance Markets Limited is not permitted to undertake any regulated activity in the UK.” Binance Markets Limited also must “secure and preserve all records and/or information . . . relating to all UK consumers from its systems” and halt any advertising and financial promotions.

London-based Binance Markets Limited had permission from the FCA to provide consumers with investment services

in traditional currencies, something Binance achieved by purchasing a financial company that was already registered with the regulator.

The transaction was approved by the FCA last June, according to public documents.

The FCA’s decision came after Japan’s Financial Services Agency warned last week that Binance was conducting unauthorised trade in cryptocurrencies with Japanese citizens. It is the second time the FSA has warned about Binance after publishing an identical notice in 2018.

Germany’s financial watchdog warned investors in April that Binance had probably violated securities rules over its launch of trading in stock tokens, something the exchange tried unsuccessfully to appeal against.

Senate Queries FRCN over N187m Unrecovered Advert Debts Deji Elumoye in Abuja The Senate Public Accounts Committee has sustained the query of Office Auditor General of Federation (AuGF) over the failure of the Federal Radio Corporation of Nigerian (FRCN) to recover over N180 million advert debts.

Chairman of the Committee, Senator Mathew Urhoghide, sustained the query following the inability of the corporation's Director-General, Mr. Mansur Liman, to explain what

happened to the outstanding advertising debts to the committee.

The query reads: " Financial records maintained at Ibadan zonal office (FRCN Ibadan) revealed huge unrecovered advert debts of N120,099,666.88 (One hundred and twenty million, ninety-nine thousand, six hundred and sixty-six naira, eighty-eight kobo) owed to the corporation as of December 2016, as a result of services rendered on credit to some companies by the zonal office,

contrary to the provisions of Financial Regulations 224 and 230 (2009) which stipulates that all services rendered by government must be paid for immediately on completion of the service and where possible, payment may be made in advance; and where payment is outstanding, a system of followup by means of reminders and final demand should be made.

"Unrecovered advert debts of N67,842,011.50 (Sixty-seven million, eight hundred and forty-two thousand, eleven

naira, fifty kobo) which were in respect of services provided on credit to some companies by the Lagos Operations of the Corporation were being owed to it as of December 2016, and the majority of them have been outstanding for more than five years.

"Requests for the companies’ files and evidence of following due process before rendering the services as well as agreements between the corporation and the purported debtors were not honoured.

"Majority of these debts have been outstanding for more than five years."

But, Liman, while responding to the query, claimed that the outstanding debts were a result of the bankruptcy of those companies which led to a change of business names.

According to him, when the FRCN approached the new companies to pay the debt, they declined to pay, saying it was not part of the liability inherited although N28 million has been recovered so far from

the debtors.

He said the services of a legal outfit had been engaged to recover the debt.

But when Urhoghide demanded the advert schedule of the debtors, Liman reportedly failed to make it available According to him, "We have it, but it is not here with us."

Urhoghide thereafter sustained the query until the FRCN management presents the schedule of the debtors for the committee to peruse.

MONDAY JUNE 28, 2021 • T H I S D AY

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T H I S D AY • MONDAY, JUNE 28, 2021

COMMENT

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

STRATEGIES TO CONTAIN INFLATION

Government must have the courage to end the regime of subsidy on petroleum products, writes Boniface Chizea

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here is no doubt that the inflation rate in the country has been ravaging to the chagrin and discomfiture of all. Inflation rate of approximately 18 per cent which kept on rising for a period of over one year is unfamiliar and alarming to say the least. Until the last two months when a modest reversal was witnessed as the rate of increase fell below 18% as it settled at 17.93%. This situation is most certainly not supportive and it is injurious to the wellbeing of a generality of our population.

What makes inflation unacceptable is that it affects more the marginalized poor amongst the population who are not in a position to pass its effect on but bear the full deleterious impact as it undermines their purchasing power, increases the misery index in the land, undermines capacity utilization and therefore erodes GDP growth rates. But the recent reversal which we hope could signify a turning point, is most certainly not Uhuru as some critical sectors such as food inflation had not witnessed any reversal but had maintained a rising trend. Therefore the respite which a generality of the population is seeking is a dream yet deferred.

So what are the causes of inflation? There are two main sources. One is when you have excessive demand in the economy due to the injection of massive liquidity as we have witnessed lately through the extension of palliative funding to combat the impact of COVID 19 in the economy.

This type of inflation is referred to as demand pull inflation. This reminds us of the argument by the Edo State Governor, Godwin Obaseki that the federal government was printing money which he cautioned could be damaging to the future prospects of the economy.

Though his caution was timely, the fact remains that at the material point in time, there were hardly any alternatives if we must maintain some semblance of peace in the polity. Demand pull reminds one of the classic definition which describes inflation as a situation of too much money chasing available quantities of goods and services.

The other component with regard to the cause of inflation is cost push; this explains a situation whereby there are increases in the cost of factors of production which are in turn passed on to the consumer through general increases in prices. The reality of the situation in Nigeria today is that there is no product or service that has not recently witnessed an increase in price and it is tough for a generality of the population. One of the major causative factors in this respect is the falling value of the exchange rate of the naira.

Despite the best efforts of the Central Bank in supporting the rate of exchange it has been so difficult because of lack of productivity in the country which got worsened in the pandemic environment as the central bank remained the only supplier of foreign exchange in the economy.

Nigerians also have an attitude of consuming what the country does not have the capacity to produce which piles up demand pressure on foreign exchange. The fact that the country at this point in time has to

WHAT MAKES INFLATION UNACCEPTABLE IS THAT IT AFFECTS MORE THE MARGINALISED POOR WHO ARE NOT IN A POSITION TO PASS ITS EFFECT ON BUT BEAR THE FULL DELETERIOUS IMPACT AS IT UNDERMINES THEIR PURCHASING POWER

import refined petroleum products which makes a priority claim on available foreign exchange imposed considerable demand pressure on available supply of foreign exchange.

There is also currently food inflation which is worsened by insurrection in parts of the country particularly the food basket regions of the middle belt as farmers are not able to go to their farms.

What are the solutions? There are no quick fixes in this connection except if somehow we could find the political courage to end subsidy on the petroleum products which is very difficult as it remains a veritable hot potato to grapple with. The one saving grace is that the Dangote Refinery is projected to commence operations in the first quarter of next year 2022 and no doubt such a development will ameliorate the nightmare in this regard.

The new kid on the block at the Economic and Financial Services Commission, Abdulrasheed Bawa, seems to have gotten off to a roaring start as the indications are that he had hit the ground running going by the humongous amounts he has reported that the agency has recovered in his short period at the helm. But he must guard against the syndrome of early and premature celebration which tends to divert needed attention if results are to be achieved in a sustainable manner.

Corruption in any economy distorts the incentive system as it encourages a get rich quick mentality. It also subverts the value system in the economy as it undermines the values of hard work as it fosters a mindset of instant gratification. And in the particular Nigerian situation, corruption piles up demand pressure on the exchange rate as most ill-gotten monies seek refuge in dollars. Also while we are at it, we are reminded that election 2023 is round the corner and very soon large amounts of monies will start making the rounds and as it is common knowledge dollars are the preferred means of exchange in this regard.

The reduction on the scale of insurrection in the country would also help in this respect. It is therefore welcome news the victory recorded against the bandits by our troops as a result of the reversal of the abduction at the school in kebbi State albeit at considerable loss of lives. If we can make more progress of this nature that could impact positively as the farm population return to their farms and therefore could give some respite to rising food prices as supplies improve.

There is no doubt that the rate of inflation will be positively impacted in an overall improved corporate governance environment with improved infrastructure availability to enhance productivity. For a long time the monetary authorities maintained a target of inflation rate which is single digit in the range of six -nine per cent. We must work hard to achieve this target for that would give delayed respite to our impoverished population. But achieving this target will most certainly not be a walk in the park and will demand sustained and focused efforts on the part of all stakeholders.

Dr Chizea wrote from Lagos

PRESS FREEDOM: THE CASE FOR REGULATION Abdulhamid Babatunde canvasses some form of rules to whip the media into line

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hen all is said about the taming of Twitter by the federal government my hope is that there will be a rapid realization that a lot that needs to be done to make the media environment in Nigeria conducive for the timely restoration of security, peaceful coexistence and national development. My reference to the taming of Twitter is a clear indication of my support for the imposition of restraint and responsibility on the unregulated operations of a private foreign propagator of information that has proved to be detrimental to a developing country that is grappling with the inevitable and well-known challenges of nation-building. What on earth happened to the concept of development journalism that was purposely promoted for providing an enabling media environment for developing countries to thrive? My concern here is the orchestrated response of the local media stakeholders to the no less timely revitalization of the regulatory role of the Nigeria Press Council, hitherto missing in action. It is indeed worrisome to witness a departure from the principle of inherent plurality of opinion which the Press once upheld by recognizing that there are (at least) two sides to any story. Today, all media stakeholders are as opposed to the taming of foreign Twitter as they are to the functional relevance of the Nigeria Press Council, in scant regard for implications unregulated private media operations on national unity, peaceful co-existence and sustainable democracy.

You don’t need to be an “analyst” to realize the overwhelming prevalence of private media with parochial and political agenda at the national level of agenda setting, apart from the entrenched imbalance in distribution of media generally between the regions. This media geography is further defined by a depressed federal interest especially in the print sector where the political elite roost and rant about their vested interests. The federal stake here is critical to the extent that the institutions of national government (aka three arms) fall under its responsibility for sustenance of sovereignty, irrespective of transient political composition.

When you add the foreign controlled social media

no-man’s-land to this disequilibrium you get a larger picture of the skewed media status quo as well as the vulnerability of the central government together with its burden of national sovereignty to potentially hostile media siege or take-over bid by intense propagation of a combustible combination of fake news, hate speech, bias and other forms of inciting manipulation of media content.

So when the private media dominated stakeholders of Nigerian media congregate to oppose revitalization of the Nigeria Press Council’s regulatory functions and vigorously advocate “independence of the media and freedom of expression” it is unlikely that they are solely motivated by national interest, especially when their declared interest complements the politics of opposition and secession. It is nevertheless beyond contention that were the opposition to find themselves in government at the centre, they would spare no effort and damn the consequences to jealously guard and uphold the sovereignty of the country which would by then conveniently camouflage “regime survival” that is today flagged as anathema by “independent Press.”

I have always contended that the nearest to a professionally-inclined independent newspaper may be found in “NUJ Times” if and when the journalists can muster the wherewithal to run a national daily as a standard-bearer for not just independent but, more importantly, objective, fair, fact-driven and nationalistic journalism. This is not a blanket endorsement of the immunity of the NUJ from parochial inducement but rather an expression of confidence in the capacity of its members to resist and reject editorial compromise. Similarly, the issue of geographical imbalance and federal media deficit is a self-inflicted disability just as the prevalence of privately owned media where this subsists is obviously a strategic choice of the beneficiaries. But the implications on dynamics of national media coverage and impact on governance and sovereignty cannot be wished away, just as the federal government cannot be denied the choice of lawful options to contain situations arising from an anomalous media environment that poses threat to good governance.

From a professional angle also, the spontaneous

concerted response of the NPAN, NGE, NUJ and coalition of civil society organisations to the overdue revitalization of the Nigeria Press Council (NPC), which was ineffectual compared to its broadcast counterpart agency, National Broadcasting Commission(NBC) raises eyebrows. It is instructive that not even the NGO-offshoots could reject regulation outright as spokesman Lanre Arogundade stated “it is not that regulation is not necessary especially in this age of fake news and hate speech, but the point to stress is that regulations must be such that do not erode media independence or freedom and are not unduly punitive.” This already debunks the notion of unfettered freedom of expression which is a frequent misleading campaign point of the group that deliberately dodges the constitutional caveat qualifying freedoms. Having acknowledged the evils of fake news and hate speech without any clue to protect against their deadly impact, it is gross insensitivity to rise against strict regulations or plead for leniency while the broadcasters have since tuned into the NBC’s penal frequency with increased fidelity. In any case which media is “independent”?

Here again, it is astonishing that these “vigilant” sentinels of the credibility of Nigerian media have developed high tolerance of the rapid deterioration in conditions of service as well as professional standards of practice that has befallen the Nigerian media industry. It is not fake news or hate speech to place the Nigerian media industry among the most worker unfriendly in the country as the wretched lives of reporters, especially in the private Press sector, are on daily deplorable display at various events across the country. Unpaid labour attracts unqualified and untrained hustlers to lay siege on the “noble” profession; media content is polluted with unpardonable errors that evaded editorial quality control as the “free” reign of opinion sidelined the sacredness of facts and exclusive investigative stories have become fund raising expeditions while beats are now cartels.

Matters get more complicated by the absence of a potent regulatory body to check the excesses, award restitution for victims and ensure maintenance of professional standards and conditions of service.

This nauseating narrative is not news among

media rank and file but its persistence points to the dismemberment of the once focussed journalists’ fraternity of freedom fighters with a pan-Nigerian concern that wrote colonialism off before editing the lingering legacies of apartheid and its neo-colonial outposts to inspire liberation movements’ march for independence. All that is now nostalgia, subdued by the pathetic prostitution of pens, making foes out of compatriots and comrades from disguised detractors, for a living.

The NUJ should be more engrossed by the erosion of its conditions of service and professional membership, an issue that the Nigerian Guild of Editors ought to prioritize in its interactions with the Newspapers Proprietors Association of Nigeria whose propriety interest should include the quality and not just the utility of the product. There is in fact a media industry variant of COVID 19’s social distancing protocol that renders the reporter foot soldiers “on their own”, separated from the exalted exclusivity of proprietors by an elevated echelon of editorial elite better known as “media executives” who blow the trumpet in tunes dictated by proprietors but insist they are playing the national anthem.

The hierarchical structure of the print media actually necessitates the intervention of a superior government-backed regulatory authority in the respective interest of the journalists, the editors, the profession and ultimately the national (public) interest. The Executive Secretary of the Nigerian Press Council (NPC), Francis Nwosu captured this reality thus: “The desirability of a press council should indeed not be in dispute as not only does it serve as a people-oriented democratic, efficient and inexpensive forum for hearing complaints. It also serves as Alternative Dispute Resolution (ADR) mechanism that helps in reducing the barrage of litigations that otherwise would clog the courts. This is in addition to its mandate of the maintenance and promotion of high professional standards for the Nigerian Press.”

Is it not absurd that even the “professional” NUJ and the NGE oppose revitalization of the Press Council?

Babatunde is a former Editor of The Democrat in Kaduna

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T H I S D AY • MONDAY, JUNE 28, 2021

EDITORIAL THE STRESS OF LIVING IN LAGOS The new index report is another wake-up call

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he 2021 Least and Most Stressful Cities Index research report which put Lagos as the second most stressful city in the world after Mumbai in India, could not have come as a surprise to residents. But given the importance of environment to mental health and general well-being, the authorities in Lagos State should be concerned about the report.

The researchers, who rated Reykyavik in Iceland, as the least stressful, assessed 100 cities for their size and significance, as well as for availability of reliable and comparable data. The study consists of four broad categories – governance, city, finance, and citizen’s health –each made up of indicators that determine how stressful a city is to live in. The report lists the top-10 most stressful cities as: Mumbai in India; Lagos, Nigeria; Manila, Philippines; New Delhi, India; Baghdad, Iraq; Kabul, Afghanistan; Moscow, Russia; Karachi, Pakistan; Jakarta, Indonesia; and Kiev in Ukraine.

Since people are products of their environment, the researchers decided to pay more attention GIVEN THE IMPORTANCE to its influence on the OF ENVIRONMENT TO state of mind of the MENTAL HEALTH AND residents of these citGENERAL WELL-BEING, ies. Their conclusions THE AUTHORITIES IN were drawn from LAGOS STATE SHOULD BE the structural and CONCERNED ABOUT THE environmental factors REPORT that are often ubiquitous, but sometimes overlooked, and can contribute to a person’s overall level of stress. The result is an index of 100 major global cities comprising over 15 factors, each ranked on a scale from most to least stressful, hoping to show those leading the way in improving the wellbeing of their citizens and can be a source of inspiration to those that are lagging behind.

To begin the study, the researchers considered which macro factors contribute to stress, narrowing them down to four broad categories. Next, they assessed over 500 cities from across the globe against a number of stress indicators in these categories, before

Letters to the Editor

removing those without reliable data, ending up with a final line-up of 100. They agree that the selected cities are not necessarily the most and least stressful cities in the world; instead, they were chosen for their global comparability.

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

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

he first category looks at governmental factors that dictate levels of inclusion in a city, such as safety and security, gender and minority equality, and socio-political stability. These elements represent societal frameworks which are shaped by policy decisions and local laws, all of which can impact a person’s mindset. Also considered was the physical environment around people, since it has been proven that high living density contributes to anxiety and stress. The researchers did so by assessing population density, as well as pollution levels, weather patterns and the amount of traffic congestion in each city.

To evaluate the impact of financial stress, they looked at unemployment rates, social security structures and the amount of disposable income a household has after tax and accommodation costs, adjusted for purchasing power parity, amongst other factors. Finally, they considered mental health and access to healthcare as influences on stress levels. The final results revealed which cities overall have the most stressful social, environmental and economic conditions, and which cities lead the way in reducing the stress levels of their inhabitants.

Lagos State, with huge population and small size, contends with myriads of challenges such as traffic congestion, inadequate housing, water supply crisis, as well as issues of security of life and property. But when so many problems come at you at the same time and the resources are limited, according to Oluwatoyin Ayinde, president of the Nigerian Institute of Town Planners (NITP) and a former Commissioner for Physical Planning and Urban Development in Lagos, you must begin a phased approach to resolving these challenges.

That admonition will serve the authorities in Lagos State.

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.

GUMI AND AMNESTY FOR BANDITS

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ince the time he took a courageous but dangerous path of meeting and preaching to bandits to repent, appealing to government to consider negotiation instead of using brutal force against them, the revered Islamic scholar, Sheikh Ahmed Gumi, has continued to stir the hornet’s nest. Although his evangelism to the cattle rustlers who transformed to bandits and continue to terrorise many states in northern Nigeria has contributed significantly to temporary peace deal enjoyed in Zamfara, Katsina and Niger states, resulting in the release of some captives, his utterances in recent times have angered many Nigerians and constituted authorities. His recent interview to Arise TV, alleging that some security agencies are colluding with bandits must have forced the Department of State Services (DSS) to invite him to their Kaduna office. Gumi’s accusation was premised on the kind of dangerous weapons he saw in the hands of those notorious bandits. He wondered how these sophisticated weapons found their way into their hands. However, infuriated by his statement, the Nigerian army, accused Gumi of demoralizing their soldiers in the frontlines.

There is no gainsaying the fact that Sheikh Ahmed Gumi has assumed the role of chief mediator between bandits and the government. Evidence abounds on how he toured many troubled northern states bedeviled by the activities of bandits and met with the affected governors. Everywhere he finds himself, Gumi preaches, canvasses or advocates negotiation, dialogue or amnesty program for the bandits. While no price is too high for the maintenance of peace and security in the country, it seems the negotiation Gumi had with bandits have since failed to yield the desired results in states that initiated it. For instance, both Zamfara and Katsina States governors had agreed to grant amnesty to bandits who

surrender and embrace a peace accord. Interestingly, when the dialogue or negotiation began, many bandits repented and laid down their arms.

Sadly, they later abandoned the agreement and went back to the bush.

This development compelled Zamfara and Katsina States governors to go against further dialogue or granting amnesty to bandits.

For Dr Ahmed Gumi to insist that bandits be granted amnesty, he is living in denial of these past experiences. No wonder, Kaduna State Governor El-Rufai has ruled out any dialogue with the bandits. What about the mode of their operation which hinges on abduction for monetary gains? Is Gumi aware that there is quite a difference between banditry and other elements of insecurity in the country? Take for example, the Movement for Emancipation of Niger Delta (MEND). It is formed to pursue resource control in Niger Delta region. The indoctrinated Boko Haram members are driven by desire to form an Islamic state. The same with IPOB which wants to secede from Nigeria and form republic of Biafra. If I may ask: What are the northern bandits grievances or what do they want to achieve? The answer may be they suffered theft from cattle rustlers. Of course, they might have lost their cattle and other valuables to rustlers, but must that be the reason to sack, kill and abduct helpless poor people?

Dr Gumi can be right in his own ways; however, the continued killing of peasant farmers in Zamfara, Kaduna, Katsina and Niger States which threatens food security and the abduction of school children which disrupts education in the north, the bandits should not be recognized let alone granted amnesty. The only language these bandits understand is violence. The government should teach them.

Ibrahim Mustapha, Pambegua, Kaduna State

A BIT OF A DUST UP

A

gain, there is a story of science being not quite misused but certainly being “off topic”. An ad on TV showed a Vacuum cleaner that could count and classify the particles it is picking up. The data is displayed on a screen on the vacuum.

My eyesight isn’t good enough to go through the vacuum bag and confirm the count.

Their website mentions lasers but fortunately not burnt carpet, so it seems safe to use. There is however a mention from one of the engineers involved about it being one of those in the shower moments. Hint: Don’t take a vacuum into a shower, it probably won’t work, and it could electrocute you if there is any damage such as exposed wiring or a broken frame.

It might be time to release all the scientists from commercial applications for a while and get them working on stopping the COVID pandemic, solving climate change, developing better energy sources and curing cancer. They can then move to solving poverty and food shortages. Science is meant to explain the world and be used to make it a better place for everyone to live, not just make it a less dusty place.

Dennis Fitzgerald, Melbourne, Australia

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T H I S D AY ˾ MONDAY JUNE 28, 2021

Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

M O N D AY D I S C O U R S E

APC, PDP at Crossroads as 2022 Ekiti Guber Approaches Barely a year to the gubernatorial election in Ekiti State, the two leading political parties in the state; the ruling All Progressives Congress and the opposition Peoples Democratic Party are still entangled in a political quagmire. Raheem Akingbolu who has been following the political trends in the state reckons that issues like zoning, godfatherism and internal rumbling within the two parties are giving stakeholders great concern

Fayemi

Fayose

Oni

Biodun Olujinmi

8

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T H I S D AY ˾ MONDAY JUNE 28, 2021

20

MONDAY DISCOURSE

Adeyeye

Ojudu

Adebayo

Eleka

The new governor had hardly been sworn in when trouble reared its ugly head. First, he was accused of sidelining party members who were not in his camp prior to the election. The state executive body of the ruling party was also declared illegal and an appeal was made for a well-defined congress. Leaders of the new faction, led by Senator Tony Adeniyi, who previously represented Ekiti South Senatorial District, said Mr Fayemi and his loyalists within the party have continued illegalities in the name of the party.

The gathering coalition of individuals like Senator Babafemi Ojudu, Senator Adedayo Adedayo, Dr. Wole Oluyede, Senator Tony Adeniyi, Hon Adewale Omirin and other known friends and pillars behind Governor Fayemi in the past, were quick to reverse and become opposition within the party. At the peak of the exchange of verbal tirades between the two feuding groups, Ojudu and 10 others were suspended. That was when it occurred to political watchers that the clash of interests ahead of the 2022 governorship election and the 2023 Presidential race fueled the internal crisis. Meanwhile, more than a year before the suspension of Adeniyi and his followers, Engr. Oni had been suspended indefinitely from the party for alleged antiparty activities.

In a jiffy and days after Ojudu and co were shown the way out, a counter suspension was to follow as Anthony Adeniyi’s faction of the party also suspended Dr. Fayemi.

They claimed that the State Executive Committee which suspended them was unknown since no Ward Congress had taken place in Ekiti State APC since 2018. Since then things appear to have fallen apart for the APC in Ekiti.

to become the party’s flag bearer.

But in an exclusive interview with this reporter, Oni said he left APC because he was unfairly treated and embarrassed with an indefinite suspension. The former governor said he discovered that internal democracy is much better in PDP than the APC. He also dismissed the insinuation that he might have gone to PDP to ride on Fayose’s popularity to clinch the exacted seat.

He said: “PDP has been my party from inception but there was a time we left through a collective decision of many of us. Coincidentally, many of us who left then –at least 50, 60 percent of those of us who left then are back in PDP. For instance, former Governor Bukola Saraki, Prince Olagunsoye Oyinlola and other bigwigs are back. We discovered there is a big ideological difference between where we were coming from and where we found ourselves. You never know how well or bad you are sitting until you try another chair.”

of the House of Representatives. Others are; Deji Ogunsakin, a former Chairman of Ado Ekiti Local Governent who was paired with Prof. Olusola Eleka in the 2018 governorship election in the state, Hon. Wale Aribisala, a member of PDP National Working Committee, Dr Sikiru Tae Lawal and Kayode Adaramodu.

At the peak of the struggle, Fayose, under his Osoko Political Association was said to have met about 10 of the contestants and tasked them to pay a sum of N2 million each for expression of interest to an account designated by him. In desperation and with the believe that Fayose owned both the yam and the knife as far as PDP was concerned, six out of the contestants –Oso, Adekola, Oladimeji, Ogunsakin, Aribisala and Adaramodu, paid the money with enthusiasm.

But in what looked like a set back to the party’s peace mission, Mr. Fayose had on Sunday, February 21, in solidarity, stormed the Efon-Alaaye home of Kolawole, and expressed his (Fayose)’s wish for the party chairman to cap it up with governorship contest under the party’s umbrella next year.

Expectedly, the pronouncement unsettled the party, with many people wondering how a party chairman could also emerge as an aspirant.

For Kolawole and his household, it was good news but to a larger part of PDP family, the action was predictably injurious to the unity the party was urgently looking for.

In an interview with THISDAY, a former chairman of the party in the state, Barr.

Gboyega Oguntuase, admitted that though Fayose had the right to anoint and endorse whoever he wants, he faulted the timing of the endorsement because of the pending case at the Supreme Court.

“Hon. Bisi Kolawole’s endorsement is a personal decision of former Governor Fayose and I think he has the constitutional right to back whoever he wishes. If Mr Fayose wishes, he can move from Nigeria to Liberia or from Lesotho to Gambia. If he likes he can anoint his son or brother or even go as far as Sokoto to bring a candidate to govern Ekiti. Except that the timing is wrong, Hon Kolawole is equally qualified to become governor. But to me, the time is wrong because the anointed candidate still has a case dangling on his head at the Supreme Court,’ Oguntuase, who described Fayose as an unpredictable individual, however, stated that he had vowed never to allow any action taken by the former governor to worry him.

“Some people were worried about the endorsement, I didn’t because I have vowed long ago never to allow Fayose’s action to bother me because he often embarks on things that offend sensibilities, against common sense and run contrary to logic.”

A former House of Representatives member and one of the arrowheads of Engr. Segun Oni’s governorship bid, Dr. Ife Arowosoge also corroborated the fact that former Governor Fayose’s decision to endorse Kolawole was still within the scope of the constitution but politely advised Kolawole to first step down as the party’s chairman in the state and formally join the contest.

But to another leader of the party and one of the promoters of the PDP Repositioning Group, Otunba Yinka Akerele, the endorsement of Kolawole by Mr. Fayose has drawn back the party’s effort to reconcile the two warring groups. Akerele who is believed to also have governorship ambition based his condemnation of Mr. Fayose’s actions on the fact that it was the same Fayose that initiated a peace move.

“I almost didn’t believe it happened because of the move made days before that pronouncement by the same former Governor Fayose for the two groups to settle out of court. Everybody was excited when Fayose called and said as one family we could solve our problem without going to court. But his endorsement of a factional leader while we are yet to resolve the issue has negated that move.”

But within Fayose’s political family, where it was rumoured that about six aspirants had earlier paid N2 million each for expression of interest to an account designated by Fayose, nobody has been able to come out forcefully to condemn the action.

The question is; were they offended by the move and ready for a showdown with Fayose? Except Eleka, who tactically said he would continue with the aspiration, others appear to be fine with Fayose’s decision. Even though pundits had earlier predicted that the purported endorsement would put the political family of the former governor in disarray, findings by THISDAY have proved such prediction wrong.

Speaking with our correspondent on the issue, Hon. Deji Ogunsakin dismissed the insinuation in some quarters that some members of Osoko Political Association are up in arms against Fayose for adopting the state party’s Chairman, Bisi Kolawole against alleged agreement reached to throw the contest wide open.

“Let me first clear the air about whether the issue has divided our group or not. It has not and it will not in any way divide us. Osoko Political Association stands firm behind our leader and benefactor, Peter Ayodele Fayose.

What happened that Sunday is a welcome development because we have in Fayose, a foresighted leader and whatever he does is okay by us.

Speaking on his endorsement, Hon Kolawole appreciated the former Governor for considering him worthy of such benevolence but said he’s currently preoccupied with the process on building the party When asked if he could be an aspirant and at the same time the chairman of the party, Kolawole answered in the affirmative and that the constitution has nothing against such.

“I’m currently the chairman and former Governor Fayose has the right to support me perhaps because of my pedigree and antecedent. If you know the former Governor very well, he is an extrovert and a straight forward individual; he always wants people to know where he belongs so that they don’t put unnecessary pressure on him. If anybody says I don’t have the right because I’m the party chairman then the person should go and acquaint himself with the workings of the political party. The current governor of Ebonyi State was a chairman of PDP when he contested and he won. So what are we saying?” Kolawole asked.

But in what looked like fallout from the development, Fayose group suffered a setback on Sunday, June 13 when major stakeholders from his group, including his former Chief-of-Staff and later Commissioner for Works, Kayode Oso, his former Personal Assistant, Goke Olatunji and others dumped the two-term governor for Segun Oni. At a well-attended event in Ado Ekiti, Oso, also handed over a campaign building to Oni and pledged his support.

A Search for the Soul of PDP In February 2019, Senator Biodun Olujimi flew the banner of her party and contested against her erstwhile political bedmate, Prince Adeyeye, who had since been rewarded with the APC ticket for the Ekiti South Senatorial district. Unexpectedly, Fayose, a PDP leader chose to campaign publicly for Adeyeye who eventually won the election.

The contest then moved to the election petition tribunal where Olujimi won and also got it affirmed at the Court of Appeal sitting in Kaduna in November 2019, where Justice Uzor Anyanwu sacked Senator Dayo Adeyeye of the All Progressives Congress (APC).

As the highest political office holder from the state, Olujimi saw the time of her emergence as Senator as the right time to fight back and she immediately declared herself the leader of the PDP in the state. Of course, Fayose and his supporters fought back and there was stalemate until the party went to congress which produced two factional chairmen; Hon. Bisi Kolawole, a former commissioner in Fayose’s administration emerged from the ex-governor’s camp while a former House of Representative member, who had also in the past served as commissioner during Fayose’s first term in office emerged from Olujimi and Senator Duro Faseyi’s PDP Repositioning Group’s camp.

The matter was again dragged to court for legal interpretation.

Meanwhile, against the prediction that former Governor Segun Oni, who had earlier joined the PDP, might find it difficult to work with Fayose, the Ifaki Ekiti born technocrat pitched his tent with Mr. Fayose during the congress. With the development, many assumed that Oni took the decision to ride on Fayose’s popularity and grip on the party

PDP’s Governorship Hopeful and the Undercurrents They are resolute in their determination to wrestle power from the All Progressives Congress (APC) in Ekiti, come 2022. They started the journey in earnest but they keep meeting self-constructed barriers on their way. The more they struggle to get out of the political cobwebs they found themselves, the tougher the chances. This has been the challenge of the opposition Peoples Democratic Party (PDP) in Ekiti since 2018.

Due to the fact that no party has enjoyed uninterrupted two-term in office in the state since 1999, some political pundits have almost taken it for granted that power will shift from APC to PDP next year. The first hurdle that stood like the Rock of Gibraltar when it started gathering its storms together was a supremacy contest between Senator Abiodun Olujimi, then Deputy Minority Whip of the Senate and former Governor Ayodele Fayose. As the highest political office holder in PDP post 2018 election, Olujimi had assumed the leadership of the party to the chagrin of Fayose and his supporters. The two opposing sides were still bickering in 2019 when Olujimi stood for re-election into the Senate. Fayose and his followers saw that as an opportunity to whittle down Olujimi’s influence and therefore worked against her and the party. At the end, Olujimi lost and Fayose celebrated. The honeymoon didn’t last as Olujimi was returned by both the election petition tribunal and the appeal court.

Fast forward to January 1, 2021 when Ekiti indigenes were welcomed with posters of Engr.

Oni, felicitating and welcoming the people of the state into the New Year. Though no mention of his interest to vie for the governorship the terse words used to convey the greeting said it all. By the second day of the year, the posters had set tongues wagging with politicians and analysts drawing conclusions.

Meanwhile before the former governor flooded the streets with the posters, many PDP bigwigs who were equally interested in the governorship had signified intention, with many of them stationing billboards in strategic areas. Those who didn’t paste posters had gotten their followers spreading their intentions through word of mouth.

In this categories are; Prof. Eleka, Fayose’s former deputy who flew the party’s flag in 2018, Kayode Oso, a former Commissioner for Works under Fayose, Segun Adekola, former Member of the House of Representatives and Ayotunde Oladimeji, also a former Member

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

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POLITICS

Tasking Primary for Anambra APC David-Chyddy Eleke in this report looks at Saturday’s Governorship primary election of the All Progressives Congress and wonders if the advertised result will stand the test of time

Ngige

Uba

Moghalu

Nwankwo

T

and there is no sign of any governorship primary election. My inquiries and investigation show that the story is the same all around the 326 wards of the 21 local government areas in the state. As a result, most party members have left for home, having waited since 8:00a.m. I discussed with your member, Distinguished Senator Ken Nnamani and I’ll advise you call the panel members to shift the exercise to Tuesday, June 29th to also enable you tidy up some issues raised by aspirants.”

In reply to Ngige’s protest of rigging and suggestion for a reschedule, Uba has denied rigging the election, saying that the call for the reschedule of the election shows that he is against a transparent process. Director-General of the Andy Uba campaign organization, Chief Sir Paul Chukwuma who spoke on his behalf praised the doggedness of APC members who remained patient all through the process.

He said, “The call for postponement of the primary to a later date by the Minister of Labour and Employment, Dr. Chris Ngige (OON)is wrong. We fault the call and wonder why the Leader of the party in Anambra State will call for a postponement of an election that has ended successfully just because the outcome was not going in favour

of his preferred candidate.” According to Chukwuma, this stand by Dr. Chris Ngige lends credence to the rumours going round that he is in cohort with the ruling APGA to support a weak aspirant to emerge as APC candidate in order to pave way for the APGA governorship candidate to have a smooth run. Chukwuma, also berated those aspirants that alleged irregularities in the primary election for raising false alarms. He noted that all the aspirants were given everything they needed by the Primary Election Committee but some were angry that they couldn’t hijack the whole process hence the resort to blackmail and cheap propaganda.

Though the Dapo Abiodun led committee has concluded its job and left the state, leaving Andy Uba’a supporters in jubilation, there is a groundswell of protest by aspirants of the party. 10 governorship aspirants of the party have reiterated their rejection of the result of Saturday’s primary election which produced Sen. Andy Uba as winner.

The aspirants who briefed journalists in Awka on Sunday evening after a closed door meeting said no election held in the state on Saturday, while also describing the election result published by the Ogun State governor, Prince Dapo Abiodun as Facebook result.

The aspirants include; Dr Chidozie Nwankwo, Dr Hygers Igwebuike, Pastor Godwin Okonkwo, Chief Ben Etiaba, Mr Johnbosco Onunkwo, Dr Paul Orajiaka, Azuka Okwuosa, George Moughalu and Col Geoff Onyejegbu. One of the aspirants, Dr George Muoghalu, who spoke on behalf of others said: “There was no election in Anambra State on Saturday. Opportunity was not provided for our people to choose who they desire to represent them in the forthcoming election. Whatever you do in the primary election has a way of affecting the main election, and with what happened on Saturday, we are not sure what we are heading for.

We are here because an election did not hold and a governor, Prince Dapo Abiodun came out to announce a result and expects us to accept it. We are here to tell you that election did not happen anywhere in the state.

“You all will agree with me that we have been here in the last six months building support bases in the state and meeting our party members, and at the end, election did not hold. They started distribution at over 3pm and in some places 6pm, and you know what that means because arrangements for electricity and security was not made, so how will people comene out to vote. The result Governor Abiodun announced is Facebook result. We are asking for free fair and credible primary, but if it must be by consensus, then it must be with our agreement, not imposing someone on us. We are going to report to the president, he needs to know that there was no election in the state. There will be consequences if the NEC of our party refuses to listen to us. Election did not take place anywhere in Anambra except Governor Dapo Abiodun wants to tell us that the election was held in someone bedroom,” Moughalu said.

A lawyer and political analyst, Barr Anthony Agbasiere who spoke to THISDAY said the manipulation of process could cost the APC the opportunity to produce the governor in Anambra State. Agbasiere said, “One family can not be causing trouble in Anambra State. In PDP you can see what his brother did. He conducted a primary election that produced his brother and here in APC, Andy has disrupted a primary election of his party. I’m not a member of the APC, but if you ask me I will say there was nothing like election yesterday.

Andy Ubah highjacked the process.

If you thing that you are popular, why not allow the election to hold, so that you can test your popularity.

I want to advice the party to discard this primary and conduct something credible, I know they still have time within one timeframe. If they use this primary election result to go into the Governorship election, I can bet you that they will lose.”

he All Progressives Congress (APC) in Anambra State on Saturday held primary election to elect a governorship candidate that will represent it on November 6, for the governorship election of the state. The exercise however turned a rancorous one with some aspirants already crying blue murder.

The election which was conducted by Ogun State governor, Prince Abiodun Dapo announced Senator Andy Uba as the winner of the election. He defeated 13 other aspirants to emerge the party’s governorship candidate. He contested the election with 13 other aspirants including; Dr. Chidozie Nwankwo, George Moghalu, Paul Orajiaka, Geoff Onyejeagbu, Azuka Okwuosa, Nwokafor Daniel, Ikoobasi Mokelu, Igwebuike Ifeanyi, Godwin Okonkwo, Ben Etiaba, Onuwkwo John Bosco, Edozie Madu, and Maxwell Okoye.

The chairman of the APC primary election panel and governor of Ogun State, Prince Dapo Abiodun, announced the outcome of the poll at Golden Tulip Hotel, Agulu Lake, early on Sunday.

Uba emerged winner with 230,201 votes while his closest rival, Johnbosco Onunkwo polled a total of 28,746 votes.

The total vote cast was 348, 490 during the election. The election committee adopted the open ballot mode also known as Option A4 to conduct the primary election.

Meanwhile, long before the announcement of the result, the Minister of Labour and Employment, Senator Chris Ngige raised concerns over the conduct of the election. He said that at about 4:25p.m on Saturday, the election was yet to commence in the 326 wards of the 21 councils in the state. He therefore, called for the postponement of the primary election to Tuesday, June 29. The minister said that the postponement of the primary election became imperative to enable the party members across the state to participate, as well as give enough room for the committee members to resolve contentious issues raised by the aspirants.

A statement issued by Senator Chris Ngige Media Office at Alor, Idemili South Local Government Area of Anambra State, yesterday, said that the minister who is also the leader of the party in the state, has already made his position known to the Chairman of the Primary Committee for the Anambra State Governorship election and the governor of Ogun State, Prince Dapo Abiodun. Ngige said he sent a message to Governor Abiodun in protest. The message which was made available to journalists read: “Your Excellency, Prince Dapo Abiodun, the Chairman of the Anambra State Primary Committee, good day. As I write you now, 4:25p.m, Saturday, 26th June, I’m in my home town, Alor with two electoral wards

Dr George Muoghalu, who spoke on behalf of others said: “There was no election in Anambra State on Saturday.

Opportunity was not provided for our people to choose who they desire to represent them in the forthcoming election. Whatever you do in the primary election has a way of affecting the main election, and with what happened on Saturday, we are not sure what we are heading for. We are here because an election did not hold and a governor, Prince Dapo Abiodun came out to announce a result and expects us to accept it. We are here to tell you that election did not happen anywhere in the state. You all will agree with me that we have been here in the last six months building support bases in the state and meeting our party members, and at the end, election did not hold. They started distribution at over 3pm and in some places 6pm, and you know what that means because arrangements for electricity and security was not made, so how will people comene out to vote. The result Governor Abiodun announced is Facebook result. We are asking for free fair and credible primary, but if it must be by consensus, then it must be with our agreement, not imposing someone on us

T H I S D AY ˾ ͰͶ˜ ͰͮͰͯ

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FEATURES

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

An Admiral’s Compass: Reflections on Leadership, Military Strategy and Maritime Security Ferdinand N. Agu

Nigeria is yet to fully blend its framework for coordination of our various maritime stakeholders, institutions and agencies. There are gaps in integrating maritime policy, foreign policy, defense policy, security policy and grand national strategy; and challenges in their smooth implementation. The current situation of maritime agencies working at cross purpose is suboptimal and could negate the required clarity in our picture of the maritime domain. ~//n Effective Maritime safety and security is contingent on the quality of our Maritime Domain Awareness (MDA). That is, the complete situational and threat awareness of ones’ domain. It requires Command, Control, Communication, Information and Intelligence, Surveillance, Target Acquisition and Reconnaissance. The Nigerian Navy is severely underfunded. It cannot, acting singularly, assure our full MDA. Some maritime agencies possess significant financial resources but none is in as vantage a position as the Nigerian Navy to provide leadership on our MDA. Therefore, we need a well-designed, coordinated and collaborative effort as well as a national discussion on these matters in order to generate the widest consensus on policy and architecture; as well as popular ownership of the process, financing and effective implementation of our maritime domain awareness.

W

hen Admiral Francis Akpan asked me to review his book – AN ADMIRAL’s COMPASS - I did not feel suited for the task. But he persisted. Now, having read the book, I thank him for this honour. It is a peep into the fertile mind of a professional soldier; a leader, scholar, patriot, strategic and stimulating thinker. His thoughts surge like restless waves across a sea of topics, even as he sails a steady course to articulate the imperatives of Nigeria’s maritime strategy and maritime security; and their concomitants.

Though it is not wise to judge a book by its cover, one can safely judge this book by its title. An Admiral’s Compass: Reflections on Leadership, Military Strategy and Maritime Security is informative and authoritative. It distils Admiral Akpan’s rich experience: at sea and ashore, at home and abroad, in and outside naval service, which he shared with generations of naval and military officers in lectures delivered over a period of fifteen years. The lectures are not dated. Some readers may have difficulties in putting them in a broader context, especially as his opinions on some of the recurrent subjects appear to have mellowed over time. That is not unusual. Maritime strategic thoughts evolve and practice of maritime strategy change with time. The central message, that the navy and all maritime agencies involved with maritime security must learn to adapt to change, is constant.

Admiral Akpan offers strategies for the Nigerian Navy to be effective as the vital agency in the formulation of maritime strategy and the lead organization for maritime domain awareness and maritime security. The leadership of such a navy at the centre civil agencies and military authority interactions, must be nimble and change with the changing times while holding fast to their unchanging principles. An Admirals’ Compass makes the case for leaders with cross-generational vision, operational excellence and professionalism to enable naval officers and seamen – retired and serving - to continue to sail Onwards Together; and, in collaboration with all other maritime stakeholders, join hands to serve the country they all love. This book should be a regular companion for every naval officer, especially those in high-level command; and for anyone with interests in maritime strategy and maritime security.

About the Author Before undertaking a detailed review of the book, let me give a brief sketch of Admiral Francis Akpan in order for the reader to better contextualize his works.

I first met Admiral Akpan in South Africa in early 2001 - courtesy of the late Commodore Guy Amadi Ikwechegh, a man with whom Akpan shared a kindred spirit: as a fine officer, quintessential gentleman, scholar and statesman.

Captain Akpan, as then was, was serving as Nigeria’s Defense Attaché in South Africa. That posting further enhanced his early exposure to the grand strategy and affairs of state.

Earlier in his career, Akpan had served as Aide de Camp to Late Vice-President Admiral Augustus Aikhomu and enjoyed a vantage view of what constitutes national interest, power and principles in the military and civil domains. Later, while serving in the ECOMOG Naval Task Force, he and his generation of naval officers experienced at first hand, the uncharted waters and political storms of naval involvement in peacemaking, peace enforcement and peacekeeping in Liberia and Sierra Leone. They saw

Book cover our Navy at its full stretch: projection of force and national power at sea, enabling our diplomacy, and engaging in military policing duties. This book captures snippets of those tasks.

The delicate mix of military duties, civil governance and diplomatic engagements in the course of his career must account for his strong and patriotic grasp of naval, national and international affairs; and nurtured him into a mature, deliberate and strategic thinker. While in the Navy, it was generally accepted that the future of the Navy would revolve around officers like him. That hope was amply vindicated by his illustrious service. That career was most lamentably and maliciously cut short in his full stride as a Flag Officer Commanding.

Yet, his continuing engagements in our military circles and affairs; and occasions such as this, validate his patriotic zeal and the enduring legacies of his meritorious service.

It was my privilege, when I served in the then National Maritime Authority (now NIMASA), to formalize the collaboration between NIMASA and the Navy. We began with the Hydrographer of the Navy. Years later, Admiral Akpan, as Flag Officer Commanding Western Command engineered the visionary expansion of that collaboration. His efforts culminated into a comprehensive Memorandum of Understanding between the Navy and NIMASA. That MoU provides a strong platform for intrasectoral collaboration and interagency cooperation, along the lines that Akpan

insists, should drive our nation’s maritime governance.

Chapter 1 : Introduction to Maritime Strategy and Security Though the subtitle of the book is reflections on military strategy, this chapter and most of the book deals with maritime strategy, which is not synonymous with naval or military strategy. However, navies are a very integral part of the maritime world. As John B. Hattendorf noted: “On one hand, the navy is linked to the full range of activities in national defense; on the other, it is tied to the entire spectrum of civil activities relating to the sea. A maritime strategy is the comprehensive direction of all aspects of national power (including military and naval) to achieve specific policy goals in a specific situation by exercising some degree of control; at sea”.

In this Chapter, Admiral Akpan dissects the components and contents of maritime strategy and the maritime security; and their imperatives for the Nigeria Navy as the guardians of our waters, as the force charged with the seaward defense of the nation. The Navy is also required to help coordinate and enforce all maritime laws. As such, it vital to efforts to identify and respond to all scenarios of threats and challenges in our maritime domain. The threats may be political, social and/or economic.

They may be from internal or external sources: interstate, multinational or even extracontinental; from traditional to nontraditional, conventional or asymmetric.

Chapter Two: Surveillance Systems and Maritime Security in Nigeria Surveillance is a major building block for maritime governance. Effective surveillance requires integration and presentation of information and data from different sources; and their timely exchange and sharing with and between competent national authorities. Modern systems would typically combine the abilities of RADAR, Cameras, Satellite, Vessels, Aircrafts – manned and unmanned. Commonly used systems in merchant shipping safety and security include AIS – Automatic Identification System and LRTS – Long Range Tracking System.

In the last 15 years, Nigeria has invested in various surveillance systems, including the Coastal Maritime Surveillance System of the now defunct Presidential Committee on Maritime Security and Safety; Regional Maritime Awareness Centres, established by the US Government and domiciled with the Nigeria Navy. There is also the Deep Blue Project of NIMASA and the Falcon Eye Project from Nigeria Navy.

The Nigeria Navy Falcon Eye Project receives special mention for its vast scope and structure. It is an integrated surveillance, monitoring and control system that covers beyond our EEZ and extends domain awareness to include the Gulf of Guinea. It gives our Navy the capacity to deploy aerial and maritime assets, to complete the operational circle of detection to intervention in a short time. Other surveillance systems, including the ATR 42 Maritime Patrol Aircrafts of the Nigeria Airforce and the Total Radar Coverage of Nigeria project domiciled in Nigeria Airspace Management Agency, should give an enhanced picture of our maritime domain. The author opines that it is essential that the Nigeria Navy leads other maritime stakeholders, with a robust system like the Flacon Eye Project, in view of the multifaceted security challenges in our maritime domain.

Chapter Three: Peace Keeping and the Navy – An African Perspective This Chapter explores the concepts of peacekeeping, peace enforcement, peace-making, peace building and conflict prevention. It surveys the antecedents of peacekeeping in Africa. It

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FEATURES highlights continental and sub regional efforts for peace and security in Africa and concludes that there are weaknesses in mechanism for conflict prevention, management and resolution.

The author reviews the military, policing and diplomatic roles of navies; and is persuaded that African Navies can facilitate peacekeeping operations especially where they have operational readiness, flexibility, capacity for selfsustenance at sea and mobility. Arguably, the Nigeria Navy largely met these criteria in peacekeeping operations in Liberia and Sierra Leone, where it was part of the ECOMOG Naval Task Force.

(ENTF) Despite the relative success of the ENTF, there are obvious constraints to Naval involvement in peacekeeping in Africa, especially the divides along the lines of Anglophone, Francophone and Lusophone States. There is also the need for more joint exercises between African Navies so that procedural and tactical differences can be eliminated.

Equally important, expanded interaction will lead to the evolution of systems standardization, exchange of intelligence as it pertains to the continent’s maritime environment, safety and security.

Peacekeeping operations are trending more towards multinational than unilateral undertakings. For African Navies this will entail deliberate efforts for rationalization, standardization and interoperability of forces and equipment.

This in turn, could someday lead to an African Maritime Force that should be capable of advancing continental interests.

Chapter Four: Maritime Strategy and Security – National Discuss This chapter re-emphasizes the key concepts of maritime strategy ad security that had earlier been discussed in Chapter 1. There is the additional emphasis on the need for a national discuss of the issues involved because such discussion brings clarity to objectives and coherence to strategy. National dialogue connects political goals with the military; and vice versa. Most of all, it fosters commitment and consensus on devoting adequate resources for the pursuit of the agreed course. Furthermore, there will be a greater understanding of maritime strategy maritime security and related policies Chapter Five: Piracy and Terrorism in the Gulf of Guinea Piracy is “the act of boarding any vessel with the intent to commit theft or and other crimes, with the intent or capability to use force in furtherance of that act”; while ”terrorism is the use of violence and threats to intimidate or coerce, especially for political purposes”. The Gulf of Guinea is a zone of immense economic and strategic importance to Nigeria. It is currently the most pirate infested area in international shipping. The consequences for Nigeria are grave. Piracy and terrorism thrive when conditions ashore permit; especially under a weak state, corrupt governance structures and institutions; and a welcoming environment. These are common conditions in most countries in the Gulf of Guinea. The Navy and other agencies must develop options and strategies to combat the twin evils of piracy and terrorism.

Chapter Six: Maritime Environment This chapter explains the maritime environment; the arena within which the Navy seeks operational excellence. The world’s maritime environment is largely shaped by meteorological and weather factors, astronomical and oceanographic factors. They have impact on Navies; on their vessel design, performance and maintenance; and on seamanship amongst others. Economic activities within the maritime environment include exploitation of the vast chemical, mineral and energy resources, oil and gas industry activities; and harnessing of the abundant food resources of the sea.

Equally significant is the use of the sea to link the world through transport and

weapon and boat handling in our shallow inland and coastal waters. It must also deal with issues of inadequate structural and infrastructural facilities; insufficient skilled and competent instructors and the attitude of personnel.

Agu communications.

The oceans and seas are the source of prosperity. They are also the stage for economic and military threats. That is why the naval approach to maritime defense and strategy involves defensive and offensives actions that could determine the survival of the nation. The Navy, in cooperation with other agencies and institutions must preserve that wealth and the maritime environment in order to achieve the nation’s maritime objectives and make the ocean safe for sustainable development; for our time and generations unborn.

Chapter Seven: Maritime Domain Awareness as a Vehicle for Effective Naval Operations The subject of maritime environment, maritime domain awareness, military strategy and maritime security are revisited. The recurrent and emergent maritime domain threats from within the nation state, terrorism, transnational criminals and pirates; as well as environmental pollution and illegal migration are discussed again, especially as there are yawning gaps in fusion of information and intelligence between government agencies.

Implementation of International Ship and Port Facilities Security Code gave great impetus to MDA. Its provisions for Long Range Identification and Tracking and the fitting of transponders for Automatics Identification System on Vessels; as well as the Ship Security Alert Systems were major innovations for MDA. For the Navy, in this new era, the path to operational excellence will include leadership through partnership with the whole gamut of stakeholders; Ministry of Defence, Defence Headquarters, other services, Nigerian Ports Authority, Ministry of Transport, Nigerian Maritime and Safety Administration, Nigeria Customs and Excise, Nigeria Immigration Services etc.

Chapter Eight: Funding Options for Effective Nigeria Navy Transformation The Navy’s budgetary appropriations are inadequate. In some years past, the actual releases were extremely low. New funding options should be pursued, but without exposing the Navy to indignity or indiscipline. Funding for Nigeria Navy Transformation Project (NNTP) falls far below the minimal requirements

to impact on the operational efficiency for its matrix of short, medium and long-term projections. Every aspect of the pillars of Navy Transformation needs more funding. New options and strategy recommended include increasing linkages between Nigeria Navy and other maritime stakeholders, along the lines of the South African Navy and the Department of Fisheries of South Africa. In our case, collaboration with Nigerian National Petroleum Company and International Oil Companies could be a means, if properly structured, to finance capital acquisitions of platforms and funding of naval operations. Also, serving and retired officers could devote more efforts to educating policy makers and parliamentarians on the needs of the Navy. This is with the view to overcome the “sea blindness” and ignorance of the operating environments and affairs of the Navy. They will also help to ensure better follow up on resolutions taken in the interest of the Navy.

Chapter 9: Enhancing Professional Training in the Nigerian Navy to Confront Current Security Challenges This last section of the book, the author called: The Admiral’s Navy. He posits training at the heart a navy. The author argues that training guarantees improving one’s capability, capacity and performance. The Nigeria Navy personnel must be trained and fit for purpose: with professionalism, expertise, sense of responsibility and corporateness to confront our current national security challenges. They should be ready for the conventional and unconventional scenarios. Our navy must accomplish their war and peacetime functions with equal competence and distinction.

Professional training in the Nigeria Navy is embedded in the Nigeria Navy Act, Armed Forces Act and various training policies. Navy Training Command (NAVTRAC) and its later amendments as per NNO01/06 of 2016; liaison with NDA, Naval War College, National Defense College are all designed to meet the needs of the service and its operating environment. As a result the Navy continues to do well in Sea exercises with foreign navies and routinely outclass those of our neighbouring states.

However, in order to be more relevant to our nation’s needs, the Navy must prepare for a paradigm shift – towards

Chapter 10: Human Resource Management and Military Professionalism: Challenges and New Approaches Human resource management is a strategic enabler of professionalism.

The Navy imparts professionalism, discipline, customs, ethics and traditions that are common to all members of the military, through training. These virtues underline and give effect to the power of command and control. They are foundational to leadership in any military service. In the final analysis, for an army, there is no substitute for leadership at all levels. For that reason, leadership is a major subtheme of this book. The military leader must exemplify courage, intelligence, experience, discipline and decisiveness. The Navy provides solid preparations and training in the art and science of leadership and expects that officers must reflect the core values of the Navy in their commands, ship and establishment.

The author recommends for the Navy, a fundamental change in attitudinal approach to training. It must be technology conscious and also strike the right balance between theory and practice.

Foreign training and better equipment are essential. The continuation and facilitation of the various international fleet exercises in the Gulf of Guinea should be encouraged. The exercises not only help promote maritime domain awareness and security in the area; but also provide opportunity for the Nigeria Navy to measure itself against some global benchmarks.

Chapter Eleven: Developing the Next Generation of Naval Leaders The author quotes US Admiral Michael Mullen: “Everything starts and ends with leadership….nothing is of much consequence if we do not have sound leadership in place to enact them”. The task for the Navy, is to reconcile the symbiotic relationship between training, education and experience and develop leaders that can meet the challenges of the 21st century. This is imperative because operational command of the future will gravitate towards joint leadership.

National and international security will be more reliant on interoperability and cooperation among services; and armed forces. More engagements will involve Military Assistance to Civil Authority and Military Assistance to Civil Power.

Therefore, officer development must recognize that operational command at Flag Rank demands much more than sea command. Exemplary leadership is key to any efficient and professional service.

Effective command demands – All round leaders.

Conclusion An Admiral’s Compass – leads one through Nigeria’s maritime strategic thinking and maritime security issues.

The growing insecurity in our maritime environment underscores the urgency for effective domain awareness, greater capacity to confront and respond rapidly to threats and challenges. This book is the author’s contribution to his call for a national discussion on these issues; to create consensus around policy priorities, implementing structures, funding and investment in organizations, training and equipment for robust protection of the Nigeria’s maritime space. Beyond that, An Admiral’s Compass is informative, authoritative and points the true north for readers and leaders that value and demand vision, professionalism and mature judgment in those charged with duties and responsibilities as guardians of our maritime space. ...Agu, MFRF is a former DirectorGeneral, National Maritime Authority (NMA), now Nigerian Maritime and Safety Administration, (NIMASA)

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Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed (left), and Chief Executive Officer, Nigerian Exchange (NGX) Limited, Mr.Temi Popoola, during a courtesy visit to theMinistryinAbuja…recently

Stock Market Value Dips Below N20trn on Profit-taking Goddy Egene The value of the Nigerian equities declined below the N20 trillion mark last week to N19.627 trillion, following sustained profit taking in bellwether counters.

The market, which had declined by 1.30 per cent the previous week, posted another depreciation last week with the Nigerian Exchange (NGX) Limited All-Share Index falling by 2.56 per cent to close at 37,658.26, while market capitalisation shed N516 billion to close at N19.627 trillion.

The bears dictated proceedings in the local bourse in four of the

STOCK MARKET five days while sell-offs in Airtel Africa Plc, Dangote Cement Plc, BUA Cement Plc and MTN Nigeria Plc pushed the market capitalisation below N20 trillion for the first time this year.

However, it is expected that the market would rebound this week as moderation in prices of bellwether stocks provides an opportunity to enter the market.

“We believe a “choppy theme” will be the overarching theme in the local bourse as investors continue to watch out for clues on

the direction of yields in the fixed income (FI) market. Following the moderation in the share prices of bellwether stocks, we expect the bulls to make a re-entry in dividend-paying stocks ahead of first half (H1)-2021 dividend declarations, which intermittent profit-taking activities would match.

“However, we reiterate the need for positioning in only fundamentally sound stocks as the macroeconomic environment’s fragility remains a significant headwind for corporate earnings,” analysts at Cordros Securities said.

Also commenting, analysts at

InvestData Consulting stated that technically, the NGX index action has formed a double zigzag and bottom that support an uptrend, but requires volume and a clear candlestick formation to confirm direction.

“Market recovery at this point may be powerful depending on the state of the expected numbers with possibility of maintaining what we saw in 2020 and the last Q1 corporate earnings. Should that happen, prices will respond to these earnings in the short or long Continued on page 26

Report: Despite Uncertainty, Global FDI to Rise by 15% in 2021 Obinna Chima Global foreign direct investment (FDI) flows are expected to bottom out in 2021 and recover some lost ground with an increase of 10 to 15 per cent, according to UNCTAD’s World Investment Report 2021.

It showed that FDI flows plunged globally by 35 per cent in 2020, to $1 trillion from $1.5 trillion the previous year.

Lockdowns caused by the COVID-19 pandemic around the world slowed down existing investment projects, and the prospects of a recession led multinational enterprises (MNEs) to reassess new projects.

The fall was heavily skewed towards developed economies, where FDI fell by 58 per cent, in part due to corporate restructuring and intra-firm financial flows.

It stated that FDI in developing

ECONOMY economies was relatively resilient, declining by eight per cent, mainly because of robust flows in Asia.

As a result, developing economies accounted for two thirds of global FDI, up from just under half in 2019.

Furthermore, it stated that FDI patterns contrasted sharply with those in new project activity, where developing countries were bearing the brunt of the investment downturn.

In developing countries, the number of newly announced Greenfield projects fell by 42 per cent and international project finance deals – important for infrastructure – by 14 per cent, it added.

“These investment types are crucial for productive capacity

and infrastructure development and thus for sustainable recovery prospects,” Acting UNCTAD Secretary-General Isabelle Durant said.

“COVID-19 has also caused a collapse in investment flows to sectors relevant for the Sustainable Development Goals (SDGs) in developing countries,” it added.

According to the report, all but one SDG investment sectors registered a double-digit decline from pre-COVID-19 levels.

The shock exacerbated declines in sectors that were already weak before the pandemic – such as power, food and agriculture, and health, it added.

“The drop in foreign investment in SDG-related sectors may reverse the progress achieved in SDG investment in recent years, posing a risk to delivering the 2030 Agenda for Sustainable

Development and to sustained post-pandemic recovery,” Durant said.

“FDI trends in 2020 varied significantly by region. In developing regions and transition economies they were relatively more affected by the impact of the pandemic on investment in global value chain-intensive and resource-based activities.

Asymmetries in fiscal space for the roll-out of economic support measures also drove regional differences.

“FDI flows to Europe declined by 80 per cent while those to North America fell less sharply (-40%). The fall in FDI flows across developing regions was uneven, with 45 per cent in Latin America and the Caribbean, and 16 per cent in Africa,” it stated.

Standard Chartered Bank Nigeria has launched a sophisticated wealth offering that gives clients access to additional liquidity to meet their investment needs within the bank.

Accordingtoastatementtagged,‘LeverageLending,’thesolutionisavariant of the bank’s wealth management lending solution which allows clients to access funds by borrowing money to invest in approved securities in addition to their contribution.

Clients are expected to benefit from higher returns on the investment product using the leverage financing method.

Leverage lending offers clients more liquidity to invest in mutual funds, FGN Bonds, Eurobonds and treasury bills, solving a need for clients to grow their investment portfolio.

Some of the features of the leverage lending product include attractive lending rates, repayment flexibility and potential to achieve higher returns on investment.

Speakingontheoffering,HeadofWealthManagement,StandardChartered, Simpa Adaba, said: At Standard Chartered Bank, our purpose is to drive commerce and prosperity through our unique diversity. Hence, we are constantly seeking ways to help clients proper and grow their wealth.

“This product is one way we can achieve this by providing a platform for clients to attain their investment goals without being constrained by access to liquidity. Leverage Lending is currently available to our priority banking clients.”

Infinix Launches New Smartphones

Infinix Mobility has unveiled its all-new NOTE 10 and NOTE 10 Pro in an online launch recently.

Astatementbythemobilephonecompanysaidthephonehasasuperfluid display, powerful MediaTek gaming processors, cutting-edge artificial intelligence (AI)-powered camera and optimised 5000mAh battery with fast-charge technology, the NOTE 10 series is crafted to enhance and optimize work and entertainment experiences for users.

It also stated that the online launch tagged: ‘Meet Beauty with Strength,’ which was broadcast live onTV, showcased the elements of the new Note 10- Speed, Beauty, Power, and Strength.

The event was filled with thrill and excitement as celebrities such as Nancy Isime,Timini Egbuson, Osas Ighodaro, and Poco Lee, took fans through the phone’s different features. It also stated that the engaging activities were tied to the main features of the Note 10 - speed, beauty, power, strength - as the functionalities of the new smartphone were tested live.

“There was a beautiful array of speed bikes, luxurious cars, and exotic rides that made for an exhilarating experience and the celebrities and fans alike sure did have fun exploring the most interesting features of the phone. The Infinix brand also unveiled the latest addition to its product line with the Infinix Laptop, also called The Inbook X1.

“The NOTE 10 device combines a unique blend of aesthetics and functionality to satisfy the needs of smartphone users from its super-fast processor, innovative upgrades, unique colors, style, and overall design.

It has brilliantly provided the latest innovative technology coupled with a unique style to ensure users have a trendy smartphone design and a truly immersive experience.

“The design is available in four colors: 95° Black, 7° Purple, and Emerald Green – for NOTE 10 – and Nordic Secret for NOTE 10 Pro.”

Lori Appoints Ogboi CEO

Electronics logistics platform in Africa, Lori Systems has announced the appointment of a Nigerian, Uche Ogboi, as its new Chief Executive Officer.TheannouncementwasmadeviaaMediumPostbythecompany’s co-founder and outgoing CEO, Josh Sandler.

Intheposttitled“WelcomingLori’sNewPowerhouseCEO,”Sandlerrevealed thatOgboi’sappointmentisa,“productofmanymonthsofreflectionabout what it has taken to make Lori Africa’s leading logistics software and what it’s going to take to grow Lori into a multi-billion dollar company.”

Sandler, who will be moving on to serve as Executive Chairman of Lori’s board, went on to write that Ogboi who has been the company’s Chief Operating Officer since 2019, has been a key part of Lori’s success story.

“IamconfidentthatasCEO,shewilldriveLoriintoaperiodofunprecedented innovation and growth,” he wrote.

“In a resource-dependent nation like Nigeria when crude oil price gets too high, it creates a big problem because your consumers shut down their demand. Demand will go down and obviously even as the prices go up, you will have less volume to sell”

GMD, NNPC, Continued on page 26

Mallam Mele Kyari

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BUSINESSWORLD STOCK MARKET VALUE DIPS BELOW N20TRN ON PROFIT-TAKING run and as such improve your investment results and boost confidence,” they said.

Meanwhile, investors traded a total of 1.006 billion shares worth N10.330 billion in 17,165 deals compared with 981.147 million shares valued at N10.384 billion that exchanged hands in 15,001 deals the previous week.

The Financial Services Industry led the activity chart with 646.404 million shares valued at N5.199 billion traded in 8,996 deals, thus contributing 64.2 per cent and 50.3 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 108.587 million shares worth N2.257 billion in 3,213 deals, just as Conglomerates Industry occupied the third position with 80.257 million shares worth N179.134 million in 614 deals. Trading in the top three equities namely Zenith Bank Plc, Transcorp Hotels Plc and Access Bank Plc accounted for 207.341 million shares worth N2.510 billion in 2,774 deals.

REPORT: DESPITE UNCERTAINTY, GLOBAL FDI TO RISE BY 15% IN 2021

In contrast, flows to Asia rose by four per cent, with East Asia being the largest host region, accounting for half of global FDI in 2020. FDI to transition economies declined by 58 per cent. The report stated that the pandemic further deteriorated FDI in structurally weak and vulnerable economies.

Although inflows in least developed countries (LDCs) remained stable, greenfield announcements fell by half and international project finance deals by one third. FDI flows to small island developing states (SIDS) fell by 40 per cent and those to landlocked developing countries (LLDCs) by 31 per cent. “MNEs, the key actors in global FDI, are weathering the storm. Despite the 2020 fall in earnings, the top 100 MNEs significantly increased cash holdings, attesting to the resilience of the largest companies. The number of state-owned MNEs, at about 1,600 worldwide, increased by seven per cent in 2020, with some new entrants resulting from equity participations as part of rescue programmes,” it added.

NEWS

Vetiva Projects Nigerian Economy to Rebound by 3.1% in 2021 Goddy Egene Vetiva Research has predicted that the Nigerian economy will rebound by 3.1 per cent in 2021.

In its second half (H2) 2021 macroeconomic outlook for the Nigerian economy, titled, “On the cusp of recovery,” the Lagos-based firm appraised developments on the global, continental and domestic scenes.

On the global scene, the analysts reviewed the COVID-19 virus and vaccine developments, the global recovery trajectory, and the build-up in global inflation.

Vetiva’s Economist, Ibukun Omoyeni, noted that economic indicators suggest advanced economies could rebound faster than emerging economies, in contrast with the expectations of the International Monetary Fund (IMF).

“This is because sustained policy support and strong vaccination drive in advanced economies could place them ahead of emerging economies, which are reeling from resurging outbreaks of infectious variants,” he said.

Omoyeni identified five key global macroeconomic themes which could gain traction in the second half of the year.

This borders around vaccine diplomacy, geopolitics, dedollarisation & digital currencies, commodity super-cycle, and a global minimum tax.

On Sub-Saharan Africa, he attributed the mild contraction in the region to the slower spread of the virus, low death rates, dominance of

the agricultural sector and rebound in commodity prices.

According to the report, the region may not recover as fast as other regions due to limited fiscal space and emerging inflationary threats. “However, economies with tolerable inflation outcomes could dish out rate cuts to support their respective economies. For many others, high and rising inflation amid health risks could cause many central banks to hang

their monetary policy tools. While a hawkish rendition has supported Mozambican Metical, the surge in commodity prices, robust remittance inflows, and fundraise from the international debt market have supported some other SubSahara Africa (SSA) currencies,” the report said.

On the domestic scene, a panoramic view of the Nigerian economy was carried out. After articulating the drivers of growth

in major sectors of the economy, Vetiva’s economist estimated that the Nigerian economy could grow by 3.1 per cent in 2021.

On inflation, the report envisaged a tussle between FX pressures and high base effects in the H2 of the year. While base effects are expected to influence a moderation in inflation, the economist noted an average inflation expectation of 17.34 per cent for 2021.

Amid the moderation in inflation, Omoyeni expects the CBN to maintain MPR at 11.5 per cent while noting the possibility of further dovish moves as inflation decelerates.

“Given the transition to a postpandemic environment, we do not see scope for rate hikes in 2021, as investors are more concerned with FX unification efforts and the CBN with economic recovery,” he said.

STAKEHOLDERS’ENGAGEMENT

President/ChairmanofCouncil,CharteredInstituteofBankersofNigeria(CIBN),Dr.BayoOlugbemi(right),presentingtheinstitute’scresttoGovernorofOyo State,Mr.SeyiMakinde,duringtheCIBNStakeholders’EngagementwithOyoStateGovernoratIbadan,OyoState...recently

Servicom Will Boost Pension Administration, Says Ahmed James Emejo in Abuja The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has said the implementation of the SERVICOM Charter will lead to better and efficient pension administration in the country.

She pointed out that the importance of the document cannot be over-emphasised especially in light of the appalling conditions of pensioners in the past.

Ahmed, while speaking at the launch of the Pension Transitional Arrangement Directorate (PTAD)’s Service Charter in Abuja, however, com-

mended the quest by the agency for service excellence in pension administration.

She was represented at the occasion by the ministry’s Deputy Director, Appointments, Promotions and Discipline, Mr. Pever Michael.

Essentially, SERVICOM is an acronym for Service Compact and remains an initiative of the federal government which was conceived to promote effective and efficient service delivery in agencies of government.

It seeks to ensure customer satisfaction and to manage the performance expectation gap between government and citizens as well as other members of the

public.

The minister said: “These pensioners are elder statesmen and women that had served this nation in various capacity in the past and deserves to be treated in a dignified manner to ensure that their labour was not in vain.”

She also commended the management and staff of PTAD for the innovative policy and measures being implemented to better the pension administration system.

“I encourage you to continue in this trajectory to ensure that international best practice are adhered to when handling our pensioners,” she said.

Executive Secretary/Chief Executive of PTAD, Mrs. Chioma

Ejikeme, said the agency remained committed to delivering quality service to pensioners under the defined benefit scheme.

She further explained that the document was thoughtfully developed to serve as an internal policy to guide both staff and pensioners alike on service delivery standards.

She pointed out that PTAD had been operating on the servicom preparation to the unveiling of the charter.

She said: “As it were, we’ve been running the organisation in line with the tenets of what Servicom stands for.

“We can only do better. We want to say that we will continue

what we are doing - improve our services and we appreciate the feedback from the public to let us know what we are not doing right.”

Ejikeme also said servicom is, “like a stamp to what we are doing. The charter reels out what we stand for; the quality of service we give, timelines associated to the quality of service so that our pensioners can hold us responsible when we don’t do what we’ve said.”

She added that PTAD is committed to ensuring the integrity of the pension administration system so that pensioners are rest assured that their entitlements will be paid accurately, fully and on time.

Katagum: Women Empowerment Key to Economic Devt Group Business Editor

Obinna Chima

James Emejo and Folalumi Alaran in Abuja

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Eromosele Abiodun (Maritime) James Emejo (Finance) Ebere Nwoji (Insurance) Chineme Okafor (Energy) Emmanuel Addeh (Energy) Reporters

Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

The Minister of State for Industry, Trade and Investment, Mrs. Maryam Katagum, has said women empowerment remains a major ingredient towards the development of the country particularly as the government looks to agriculture to diversify the economy.

Noting that women are vital to the progress of all economies, she lamented the existing disparities in economic participation of women in the country adding that this, “should be of great concern to everyone”.

Speaking on, “Women in Economic Development, Commerce and Industry,” at the 60th exhibition of Made-in- Nigeria Products, Katagum said resolving these issues remained paramount to the country’s socio-economic development.

She said: “In order for women to fully harness their contributions to economic development, they require equal access to all opportunities available to men.”

The minister said among other things that Nigeria needed to domesticate the Buenos Aires Declaration on Trade and Women’s Economic Empowerment (2017), wherein members of the World

Trade Organisation (WTO) had agreed to collaborate in making trade and development policies more gender responsive and specifically remove barriers on women’s economic empowerment and increase their participation in trade. According to her, the Declaration, among other things, called for the enhancement of women entrepreneurs’ participation in public procurement.

However, the minister pointed out that overtime, the federal government had developed policies and institutional structures that encourage equality and aim to increase the participation of women in all sectors of the

economy.

She said her ministry, which has a mandate to create an enabling environment to stimulate industrialisation and accelerate domestic and foreign investment, had successfully championed the development of MSMEs to create jobs and drive inclusive growth while also promoting the integration of Nigeria-based businesses into regional and global value chains.

The minister noted that the recently launched Gender Initiative of the Commodities and Export Department (GICED) of the ministry aims to use available resources to support

women to realise their potentials in the commodities and export trade sub-sector.

She also said the MSME Survival Fund, as part of the Economic Sustainability Plan (ESP) was mulled to support and protect small businesses from the vulnerabilities brought by the COVID-19 pandemic.

She added that the N50 billion Export Expansion Facility Programme, currently being implemented by the Nigerian Export Promotion Council (NEPC), was aimed at empowering exporters in expanding their businesses including women through non-oil exports.

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FG Seeks End to War Risk Insurance on Nigeria Bound Vessels Eromosele Abiodun and Oluchi Chibuzor The federal government has called on the international shipping community to urgently remove the war risk insurance premium currently being charged on Nigeria-bound vessels.

The government said the charge is unjustified given that the country has set up security infrastructure aimed at eradicating various risks encountered by seafarers on Nigeria’s territorial waters. Director General, Nigerian Maritime Administration and

Safety Agency (NIMASA), Dr. Bashir Jamoh, made the call over the weekend in Lagos, while giving his welcome address at an event organised by the agency to mark the Day of the Seafarer, 2021 themed: ‘Fair Future for Seafarers.’

President Muhammadu Buhari, recently launched Deep Blue Project initiative.

This, the NIMASA boss said would further strengthen Nigerian security and safety infrastructure with its water body.

This, he stated, was a response to the insecurity challenges faced by the country, adding it aimed at

ending the scourge of insecurity along the nation’s territorial waters with the vision to protect lives at sea. However, making a case for the persisting War Risk Insurance on Nigerian-bound cargoes, Jamoh, acknowledged the need for its removal, saying the Deep Blue project was set up to reduce the cost of shipping in the country.

“Nigeria is not at war. If they decide to classify Nigeria as a war risk zone because of the piracy or try to collect the premium of war premium insurance having accepted that we have invested much having appreciated the contribution we have made so

far when it comes to the issue of Maritime insecurity, this signifies that something needs to be done.

“What we are saying here is that if those people who have sat down and slam Nigeria War risk premium benchmark are now telling us that we made progress, then that means a certain portion of that war risk must be dropped, “he said. Jamoh who also said Nigerian maritime community was making progress on security applauded the support, contribution and investments of the Nigerian government to tackle the piracy within Nigerian waterways and the Gulf of Guinea (GoG).

“Just some weeks ago, Mr. President commissioned the Deep Blue Project which is the first of its kind in the West and Central African region, prompting the international community to recognise such efforts and they are behind us,” he stated.

He added, “The poor masses on the streets should not be made to pay the price of these few individuals that try to blight the integrity of this country just like that. We have more than 200 million Nigerians and those young people perpetrating such mischief and criminal acts are not more than 1200 trying to drag Nigeria

into mud.

“Nigeria is making progress and now that we are making progress, would we continue to be in the most dangerous waters? If such things continue, the investors will feel shortchanged and it is an injustice to this great country,” he said. On how to better the conditions of seafarers in line with this year’s theme, NIMASA boss highlighted the sacrifices made by seafarers during the pandemic to keep the world trade going.

Their sacrifice, he said, calls for better policies to ensure they have better working and living conditions.

Firm Backs Oyo Govt on Ibadan Circular road Kemi Olaitan in Ibadan An engineering firm, Geofocus Company Limited has threw its weight behind the Oyo State government, over the termination of the contract for the construction of Ibadan Circular road, saying the contract did not follow due process.

The Managing Director of the company, Mr. Debo Adedeji, while addressing journalists in Ibadan, said the award of the contract to ENL Consortium Ltd, by the immediate past administration of late Senator Abiola Ajimobi, was allegedly shrouded in secrecy.

He said the concession was not advertised in accordance with the Procurement Act. The government of Governor Seyi Makinde had terminated the contract awarded to ENL, for alleged delay in delivering the road which has been kicked against by the company. Adedeji while apparently reacting to the statement credited to the Chairman of ENL, Prince Adesuyi Haastrup, on the termination of the contract, said Geofocus initiated the project in 1995, under the administration of Col. Ike Nwosu (rtd) and had since then been developing it with the various administrations of the state including that of Ajimobi.

He lamented that a legacy and critical infrastructure like the road

meant to produce teeming jobs and promote economic advancement of Ibadanland could be turned to a political commodity to be traded in the black market and misrepresentation of facts such as it was initiated by the administration of late Governor Lam Adesina. He disclosed that the entire road as conceived by Geofocus is 110km with an amortization of 25 years as against 32km with amortisation of 35 years awarded to ENL by the administration of Ajimobi, adding that till date the company has been the major proponent on the project bringing in financiers and technical experts.

Adedeji who maintained that the project belongs to the Oyo State government, said the firm has the right to its concept, intellectual property and also hold a patency on it, stating that the idea of ancillary projects of the road such as markets, schools and housing raised by Haastrup actually belonged to Geofocus.

According to him, “With the support of our Chairman, Dr. Taiye Ayorinde, Geofucus had been guiding each administration to the development and financing of the project. Indeed, each administration from Nwosu to Seyi Makinde had seen our expertise in project development and commitment for 26 years.

Access Bank Reiterates Commitment to MSMEs Development James Emejo in Abuja The Group Head, Emerging Businesses, Access Bank Plc, Mrs. Ayodele Olojede, has said the bank remains committed to the growth and development of the micro, small and medium scale enterprises (MSMEs) in the economy. She also urged small enterprises to take advantage of the bank’s resource channels to get information and improve on their skills adding that the institution is committed to providing quality capacity building services to emerging MSMEs. Speaking on the sidelines of the 2021 National MSME Discourse, themed: “Little Beginnings: Huge Impact,” she pointed out that supporting the MSMEs growth and development had been a core proposition for the bank.

“We are very willing to partner with our very committed entities who seek to also support the growth and development of MSMEs, she said. In an interview with THISDAY, Olojede, who earlier participated in a panel discussion on “Facilitating and

Growing a Sustainable MSME Space in Nigeria”, said despite available financing opportunities for small businesses, access remained a problem.

According to her, financing requires preparation on the part MSMEs as well as commitment of the financial institutions.

She said there’s currently a disconnect whereby a lot of the financial institutions do not support small businesses in a committed manner, “because they don’t understand the market well enough and they do not know how to de-risk it. And so they are always shying away from financing that segment”.

She however, stressed that the bank had continuously invested in understanding the MSMEs segment. According to her: “We have partnered with organisations both local and international to be able to build our competences through technical assistance programmes that is helping us daily to de-risk the segment and that gives us confidence daily to be able to expand our footprint within that segment.”

ANNUAL GENERAL MEETING

L-R: Treasurer, Nigeria International Chamber of Commerce (iCCN), Mrs. Dorothy Ufot; Secretary General, Mrs. Olubunmi Osuntuyi; Chairman, Mr. Babatunde Savage, and Chairman Emeritus, Chief Olusegun Osunkeye, during the 22nd Annual General Meeting of the Chamber in Lagos... recently.

OLAWOLE ALLI.

FG Acquires N1.7bn Mobile Control Towers for Effective Airspace Coverage Chinedu Eze The federal government has acquired two mobile control towers worth N1.7 billion in order to further enhance coverage of Nigeria’s airspace and improvement of flight safety.

The Minister of Aviation, Senator Hadi Sirika explained that the equipment would be deployed to the Murtala Muhammed International Airport (MMIA), Lagos and the Nnamdi Azikiwe International Airport (NAIA), Abuja and any other airport that may require the facility.

Sirika who commissioned the equipment at the Lagos airport

recently, said the aim of the present administration is to continue to improve safety in the industry.

The mobile towers would be used by Air Traffic Controllers (ATCs), a department in the Nigerian Airspace Management Agency (NAMA) for air and ground communication.

Sirika reiterated the commitment of President Muhammadu Buhari to deepen air safety in the country, stressing that apart from this, the government through the Federal Executive Council (FEC) had on numerous occasions approved sums that had boosted safety in the sector.

He said: “The intent and

purpose of the ministry and what we have been doing is to ensure safety and efficiency of our sector without degrading and de-emphasising issues of security and comfort.

“So, how very safe you depart Point A and land in Point B is our primary concern and primary importance. So this is an extension of that intent and purpose and so the amount of N1.7 billion has been spent in procuring these mobile towers.

“We will use it in Lagos and Abuja and if need be we take them to locations where they do not have conventional control towers. They are so equipped,

so modernised, so efficient and so very alive. It has everything that a control tower can have.”

Some of the features of the control towers according to the Minister included real time weather, approach and departure procedures and over-flight facility that would ensure smooth flight operations and air traffic management.

He lauded the management of NAMA, led by Capt. Fola Akinkuotu, for being proactive on the request to procure the equipment, stressing that President Buhari was once again generous to give the approval for the procurement.

Visa Highlights Innovation Capabilities for Financial Inclusion Emma Okonji Visa, a global player in digital payments, has highlighted key innovation capabilities that will accelerate financial inclusion in sub-Saharan Africa. Hosting industry stakeholders at an event focused on innovation, the company highlighted co-creation as an essential component in developing market-ready payment solutions to accelerate access to financial services.

Speaking during the 2021 Visa Africa Innovation for Inclusion Summit, Senior Vice President and Group Country Manager for sub-Saharan Africa at Visa, Aida Diarra, said over the last decade,

Visa had taken a keen focus in collaborating with key players across the payments landscape to enable access to digital payments.

“We continue to partner with leading players in sub-Saharan Africa including banks, fintechs, neobanks and telecommunications companies to enable new payment experiences that accelerate inclusion across the region,” Diarra said. According to her, “Some of our latest partnerships are leveraging the power of mobile as an access point to financial inclusion, including a partnership to develop products that will expand access to digital payments at scale for over 30 million mobile money customers.

“We are also driving access for small businesses through the launches of tap to phone and an exciting pilot that will serve as a solution to help small business owners digitise their business, covering payments, point of sale and access to credit, via a mobile device.”

Visa’s Head of Innovation and Product Design, Central Europe, Middle East and Africa (CEMEA), Akshay Chopra, who spoke about the capabilities necessary to accelerate future payment experiences and solve real consumer and merchant needs, said: “To foster real inclusion we need tangible, customer-centric solutions that,

with our innovation and design centre capabilities, our partners have a chance to engage with key trends and the latest Visa technologies through a number of design processes to identify where the gaps and opportunities are.”

Chopra explained that the COVIF-19 pandemic that devastated global economies, compelled Visa to think of new ways to still deliver on its innovation mandate.

“Since the onset of COVID-19, we have delivered over 120+ engagements remotely, through our team that has built deep expertise in running productive engagements regardless of location, he added.

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MainOne Launches MDXi Data Centre in Ghana Emma Okonji Determined to expand its data centre operations across West African countries, MainOne has launched its MDXi Data Centre in Appolonia City, Accra, Ghana.

The MDXi Data Centre, a subsidiary of MainOne broadband connectivity company, is now live in Ghana, after it was fully established in Lekki, Lagos in 2015.

The launch, which took place last week, saw MainOne showcase the 100+rack facility to its invited guests.

The guests took turns to tour the facility with an in-depth view of the advantages it presents to businesses.

The data center offers customers the opportunity to host infrastructure in a facility guaranteed to provide high levels of availability and rich connectivity with a global network of customers, partners and suppliers, therefore ensuring reliable delivery of services to businesses across multiple sectors.

The event saw guests from various sectors and industries, which was attended by government officials, dignitaries from the business community, the media and other distinguished guests.

The Director, PPBME, Ministry

of Communication in Ghana, Mrs. Veronica Rita Sackey, who represented the country’s Minister of Communication at the launch, highlighted the fact that the strides taken by MainOne were laudable and ties into the Ghana government’s digitisation agenda.

Chairman, MainOne Ghana, Mr. Africanus Mensah, said at the launch ceremony, “Ghana has waited for a premium and world class facility with the capabilities of the data centre that we are launching at MDXi Appolonia City.

“We are confident that this world-class data centre will positively impact business growth in Ghana as it expands the frontiers of the digital revolution and transformation in our country, and I am immensely proud as a Ghanaian national to be a major part of this future enhancing benefits and development for our various business industries and ultimately our beloved country.”

In line with its parent company’s leadership in the telecoms sector, the new MDXi Data Centre offers open access connectivity options to all the leading telecom networks in Ghana and direct access to MainOne and other submarine cable systems.

FG, Stakeholders Seek Legislation to Sanitise Agro-chemical Sector James Emejo and Folalumi Alaran in Abuja The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono has reiterated the determination of the ministry to ensure the signing into law the proposed draft bill for the establishment of the Nigerian Pesticide Council.

He said the emergence of the Council will sanitise the agrochemical landscape as well as liberate it from counterfeiters.

Specifically, he said fake and contraband pesticides products had found their way into the

Nigerian markets, with the attendant economic and health implications for Nigerians.

Speaking at a multi-stakeholders workshop on the proposed bill for the, ‘Establishment of the Nigerian Pesticides Council and Other Related Matters Connected Therewith 2020,’ Nanono, who was represented by the Permanent Secretary in the ministry, Dr. Ernest Umakhihe said: “As a ministry, we are committed to ensuring that the agrochemical being produced, distributed and marketed in the country conforms with internationally acclaimed standards.”

Nanono said agrochemicals

are widely used in agriculture, pointing out that starting from seed dressing before planting to storage, marketing and distribution of grains, they are relevant in the value chain.

He stated that as a result of the huge market for agrochemicals, counterfeiters are flooding the market with massive quantities of fake and contraband pesticide products. He said the continuous use of fake and contraband pesticide products had continued to pose serious dangers to both the farmers and the environment.

According to him: “The continued absence of a regulatory framework capable of providing an

all - inclusive and adequate control and monitoring of the industry is unacceptable for the country.

“We are determined to follow through with the enactment and subsequent signing of the proposed bill before the National Assembly into law.”

The minister, in a statement stated: “The law will brazenly empower the ministry to sanitise the agrochemical industry through issuing appropriate license to the genuine pesticides manufacturers, importers, sellers and distributors while expanding the revenue base of the government and boosting investors’ confidence in the industry”.

Gree AC Unveils Brand Ambassador Raheem Akingbolu Choice International Group (CIG), manufacturers of Gree Air conditioner and a home appliances brand has introduced Stephanie Linus as its brand ambassador in Nigeria The event was graced by investors and the brand’s business partners from Nigeria and China, who were delighted to witness the spectacular beginning of a new phase.

Speaking at the unveiling, the country manager, sale and marketing, Chibuzor Ogunka, said the brand in the last five years has made giant strides with a lot of reference projects.

According to him, “Today, we have a lot of reference projects in Nigeria as Gree Air Conditioner has powered key projects such as the Dangote refinery and the Nigerian Railway Corporation

project.

“We have decided to continuously ensure that our Nigerian consumers are better engaged and catered for. We believe that bringing our new brand ambassador on board will help us deliver better value to the consumers as Stephanie Linus is a global Icon and will take Gree Air conditioner brand to the number spot in Nigeria,” Ogunka said.

During her speech, Linus expressed delight, narrating her personal experience with Gree ACs over the last few years and testifying to the brand’s safety and durability.

In her words, “My experience with Gree is different. It circulates effectively, it’s health-friendly, and it cools like winter. I am also thrilled at how much the company pays attention to aesthetics.”

Broadcast Channel Introduces More Hausa Language Programming Raheem Akingbolu AREWA24, one of the leading Hausa language entertainment and lifestyle television channels and production studio in Nigeria and West Africa, will celebrate its seventh anniversary by giving its viewers the largest slate of new Hausa-language programming in the channel’s history, the management has stated.

The new slate of programming, which will debut in July, with new original dramas, includes; a new women’s talk show, new kids’ “edutainment” series, fresh football shows alongside AREWA24’s other popular hit dramas and studio shows. According to a statement issued by the company, many of these new shows would also be immediately available on the station on demand, the channel’s

global subscription-video-ondemand service connecting Hausa speaking families around the world to Northern Nigerian entertainment, culture and lifestyle.

New seasons of AREWA24’s original runaway hit drama series, Kwana Casa’inand Dadin Kowa, are currently in production and will premiere in October.

“AREWA24’s new slate of programs leads with three new Hausa dramas: Buka Afrikana, an ensemble situation-comedy set in a local Nigerian Middle Belt diner, or “Buka.”Labarna-Season-3, the newest season of one of the most popular Northern Nigerian hit drama series and Sirrin Boye, a new Hausa mystery and crime drama. Also launching in July is AREWA24’s new ground-breaking women’s talk show, “Mata A Yau” (Today’s Woman”).

MEDIABRIEFING

L-R:GroupChiefExecutiveOfficer,Pertinence,Dr.StephenOluwatobi;ChiefOperatingOfficer,RealVest,YemisiKolade;Co-founder,PertinenceGroup,Mr.WisdomEzekiel;GroupAdministrationManager,AbimbolaOlaposi;andGroupFinancialController,Mr.OladimejiOke,atamediabriefingonWealthSummit2021,heldinLagos...recently ETOPUKUTT

Polaris Bank Launches Reward Scheme for Digital Platform Users Polaris Bank has announced the launch of a new reward scheme titled: “Refer & Win,” exercise in which existing and new users of the bank’s digital banking platform, VULTe, stand a chance to win up to N1,300 instant cash reward each time they refer someone who opens an account and enrolls on the newly-launched innovative digital solution.

To benefit from the reward initiative, the bank in a statement at the weekend that all referrer, (who could be an existing customer or non-customer of the bank), needed to do was to refer a new user to open a Polaris Bank account by enrolling on the VULTe digital bank platform, while for

every referral completed, both the referrer and the account of those referred would be credited with N300 and N200 respectively, instantly.

Speaking on the new reward initiative, Polaris Bank’s Managing Director/CEO, Mr. Innocent Ike, said the referral campaign was aimed at positioning VULTe as a unique digital solution to reward both the existing and new customers of the bank. ‘‘VULTe stands out as a very unique innovative digital bank platform in many respects. It not only provides users unique offerings as a self-service solution, it also offers convenience, speed and reliability on the go.

“The Referral Campaign aligns

with our bank’s commitment to provide new experience and easier accessibility to banking services for all customers, and to reward them for their continued loyalty,’’ he said.

While encouraging existing and new customers to take advantage of the exercise to increase their savings and earn extra money, the Polaris CEO added that the campaign is a season of reward for staff, customers and non-customers of the bank once their referrers successfully enroll on the Polaris Bank’s VULTe platform.

Polaris Bank’s Chief Digital Officer (CDO), Mr. Dele Adeyinka, while explaining the mechanics for participating in the reward exercise, disclosed that participants

are required to enroll, fetch their referral code from VULTe and share with prospects. ‘‘The referral code is the indicator to the individual that introduced the Application to the new user. This, will also be used, in aggregating the total payout due to the referrer,’’ he said.

Adeyinka added that the participants will only qualify for rewards, after the referred have successfully set up an account on VULTe. The campaign, he explained further, is split into two reward categories, and a referrer will be paid for referring users based on the account level/referred customer category.

None of FAAN’s Workers Will Be Laid Off after Concession, Minister Assures Chinedu Eze The federal government has assured that none of the over 8,000 workers of the Federal Airports Authority of Nigeria (FAAN) would lose their jobs if the major airports in the country are concessioned under a Public, Private Partnership (PPP) arrangement.

Government has also said it will use between June and August this year to finalise the programme of airport concession in the country even as labour continues to kick against the project The Minister of Aviation, Senator Hadi Sirika, who revealed this in Lagos, at the end of the

Airport Business Summit and Expo recently, assured that there would be no job loss.

He stressed that the concession would create opportunity to engage more hands into the system Sirika told industry stakeholders that there was no need to sell the people’s asset but to concession them in a way that they would be operated to generate more revenue for the country, modernise the airports and create more jobs.

“We will not sell the assets that belong to 200 million people and the future generation of this country. We are not going to sell because those that were sold were lost, so we in government believe

that we should hold those assets for the Nigerian people in trust.

“We must make those assets better to provide the service that is needed. So, we said rather than sell out rightly, we will concession. In other words, we would give it up to someone who would operate them and make them better.

“We will then get more money, the people will enjoy better service, the industry grows and after certain time, the airports will come back to us,” he said.

He said the proposal would be presented to the Federal Executive Council (FEC) in February 2022 The minister also said all the agreements on concession

was contained in the outlined proposal saying that it was in the interest of the people.

Sirika explained that the proposal which commenced in 2015, would be advertised this month for bidders to show interest after which qualified companies would be invited for profiling and review , adding that everything covering the process would close in August He explained that evaluated companies would be asked to present a proposal for engagement Sirika assured labour of dialogue to ensure that every issue concerning concession was addressed, insisting that no single worker would be laid off

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NCAA Commends Air Peace over New Aircraft Acquisition Chinedu Eze The Director-General of Nigerian Civil Aviation Authority (NCAA), Captain Musa Nuhu, has described the acquisition of new aircraft

by Air Peace as a milestone in Nigeria’s aviation industry, He described the acquisition as

a paradigm shift in the industry.

Nuhu stated this at a recent ceremony held at the Nnamdi Azikiwe International Airport, Abuja, to mark the delivery of Air Peace’s third brand new E195-E2 aircraft out 13 on firm order.

Commending the Air Peace Chairman, Allen Onyema, Nuhu

said the beauty of the aircraft delivery was not just that the aircraft was new but that the airline picked the right kind of aircraft befitting for the market.

“Today is another milestone and a paradigm shift and this is something that I have not seen since my days at Nigerian Airways

Travel Agency Celebrates 15 Years of Operation Nigeria’s travel management company, Finchglow Travels has marked 15 years of providing travel service to Nigerians.

The company attributed its success over the years to the support from its clients, airlines, regulators, trade partners and others.

The Managing Director and Founder of Finchglow Travels, Bankole Bernard said, “I would like to take this opportunity to express my gratitude to our various stakeholders for their support over the years, including our customers, the airlines, regulators, trade

partners, corporate clients, and above all, my colleagues.

“With their continual support and the foundation built in the past, I have great confidence that Finchglow Travels will do much better in the coming 15 years.”

The company said as part of its commemorative activities, Finchglow Travels has commenced the maiden edition of its mentorship program with the aim of bridging the gap between junior and senior professionals in the downstream sector of the aviation industry. The company also announced plans

to launch its mobile application, Finch Travel App to ease flight bookings and reservations as well as other ancillary services for clients.

“The Finchglow Travels Mentorship Program is our contribution to ensuring that Nigeria has a better structure in place in the downstream sector of the aviation industry. We want a system where professionalism prevails and there is a transfer of knowledge between senior players and junior players for continuity and of course improvement,” Bernard added.

when they were purchasing the right aircraft for the right routes. Air Peace is not only buying aircraft, but also buying the right-size aircraft for the Nigerian market.

“The Embraer aircraft is the right aircraft; it breaks even with low passenger figures; your maintenance cost is low; your operational

cost is low. Another factor is that the new aircraft is absolutely great for the environment; it does less pollution. I am really proud that I am Director General when this paradigm shift is happening. “We are all here to work together to grow the industry and we have to give kudos to the entrepreneurs,

as without such people, all this will not be possible. We need entrepreneurs like Onyema,” Nuhu stated.

Recently Air Peace took delivery of its third brand new E195-E2 jet out of the 13 ordered from Embraer, with five more to be delivered before 2021 runs out.

NATOP to Host Ghana’s Former Tourism Minister The fifth Annual General Meeting of the Nigerian Association of Tour Operators (NATOP) would once again play host to high profile speakers.

The AGM coming up in Uyo Akwa Ibom State would have as the Guest speaker the former Minister of Tourism and Creative Arts Ghana, Mrs. Catherine Afeku under whose tenure Ghana initiated the highly successful Year of Return Project.

This was contained in a statement from the association, which also stated that Akwa Ibom-born

international businessman with passion for tourism, Mr. Akanimo Udofia, would be the keynote speaker.

“They will be supported by a member of the Federations of Tourism Associations in Nigeria (FTAN) and Board of Trustees (BOT) member, Ambassador Ikechi Uko who also is a BOT member of NATOP. The Chief Operating Officer of the award winning airline, Ibom Air, George Uriesi would share with the tour operators the experience of restarting

Ibom Air after the Covid19 lockdown and how they have built a successful operation so far,” the statement added.

The theme for this years event is, “Restarting Tourism in Nigeria. A new Template.”

The Governor of Akwa Ibom State, Emmanuel Udom would be expected to grace the event.

The association noted that NATOP is the only tourism body that has had the Minister of Information and Culture Alhaji Lai Mohammed personally attend its AGM.

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Adegbohungbe: Structural Factors Impeding Economic Growth The Managing Director, Coronation Merchant Bank, Mr. BanjoAdegbohungbe, in this speaks about developments in the economy as well as the performance of his firm. Obinna Chima brings the excerpts:

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performed this year?

The corporate debt market has fared reasonably well considering the rather challenging business and interest rate environment. According to the FMDQ, almost 170bn was raised in Q1 2021. While this may not compare favourably with the prior year, it must be borne in mind that the interest rate environment in 2020 was unusually favourable for corporate issuers who were able to benefit from it. We have since seen the return of double-digit interest rates and corporates have had to make careful choices.

We have been more active this year than in 2020 and we envisage that there would be more issuance activities in the debt market as the year progresses.

hat is your assessment of the performance of the economy in the first quarter of 2021?

The first thing to say is that the 0.51 per cent year-on-year growth for the first quarter (Q1) GDP was better than the 0.11 per cent recorded in Q4 2020, which is encouraging. Then again, the growth in the non-oil sector of the economy, which is ninety percent of it, was 0.79 per cent year-on-year in Q1 against growth of 1.79 per cent in Q4. A lot of the difference came from the fact that the growth rate in the telecoms sector slowed down in Q1 and growth in the agricultural sector went back to its trend growth rate – it had grown exceptionally in Q4. Both these sectors can improve going forward into the next three quarters of the year. It was great to see the manufacturing sector return to growth of 3.40 per cent year-on-year in Q1.

We significantly support this sector and we understand how tough it was for them last year with the challenges of COVID-19. There is plenty of evidence that key sectors of the economy are recovering and more growth is expected going forward.

How did Coronation navigate through the challenges created by the COVID-19?

Three important things were relevant to this: One, we were proactive in mitigating the risks posed by COVID-19 to our business. Two, we took several steps to protect the health and wellbeing of our people and three, we did our best to support our customers during the difficult period from the disruptive impact on their business.

What measures will you advise policymakers to adopt in order to accelerate GDP growth rate?

Structural factors are still impediments to economic growth. Examples include electricity, physical infrastructure and bottlenecks at our ports. If there are material improvements in these areas, economic growth will pick up faster.

Policy makers are focused on these issues. We have also seen some normalisation of market interest rates and a degree of unification of exchange rates. These are prudent and expected adjustments after the very low market interest rates that were used to protect the economy from the challenges posed by COVID-19 last year, in effect a gradual and managed return to a normal state of affairs. On one hand, policy is guided by growth and on the other hand it is guided by the need for stability, which means bringing inflation under control and calming the foreign exchange markets. So far, we are headed in the right direction.

We have a situation of insecurity that appears to be worsening, inflation and unemployment at double-digit, with some of these negative indices, why do you think investors should consider Nigeria above its peers?

The case for investment in Nigeria should be considered in a wider context. The challenges currently being experienced in the country are neither permanent nor unresolvable. Discerning investors therefore know how to sift through the noise. Those who do have found that the critical market fundamentals still hold true.

While there can be no pretensions that these are challenging times, we believe that those who position appropriately can expect alpha returns as things improve.

We have been instrumental in helping our clients navigate the terrain, positioning them to take advantage of the opportunities on the horizon.

What are the benefits of a demutualised stock exchange as we have in the country presently and what opportunities are there in for investors?

The demutualisation of the Nigerian Stock Exchange is a very good development for which

Adegbohungbe the critical stakeholders should be very well commended. One can imagine that this pioneer effort must have placed significant demands on the proponents and executors and based on what we can see, they have done an excellent job. Some of the benefits of a demutualised stock exchange are immediate and others will be long term. Before now, the Exchange was a not-for-profit and therefore only subsisted on contributions and fees from members. This has now changed as members have become shareholders and therefore, providers of capital, thus giving the exchange much needed access to capital. It is expected therefore that with its access to capital, the exchange will be able to make ample investments in technology,

become more self-sustaining and deepen its capacity to serve an increasingly knowledge and technology-driven capital market more effectively. The innovation trajectory for the exchange is now limitless as it seeks to compete in the global capital market place.

The need to enhance capitalisation provides ample opportunity for new investors to become shareholders in the Exchange. By listing its shares on a market platform, the Exchange provides investors with entry and exit opportunities, access to information on its activities, participation rights and a pool of talents to drive its growth.

How has the corporate debt market

Can you take us through your 2020 financial performance and what were the key drivers?

Despite the challenges and headwinds that characterized the year, our bank recorded significant financial success. The strength of our financial performance is a testament to the resilience of our business model and the commitment of our people.

We achieved a profit before tax of N5.8 billion, increasing by 15 per cent from N5 billion in 2019, while total assets grew by 63 per cent from N253.35 billion in 2019 to N412.36 billion in 2020. Earning assets reached N269 billion, representing a 62 per cent rise from 2019. This resulted in a slight growth in net interest income by six per cent to 4.68 billion (2019: N4.43 billion). There was an increase in trading income and commissions & fees, leading to a rise in the bank’s non-interest income by 23 per cent year-on-year to N7.41 billion (2019: N6.04 billion). Customers’ deposits grew by 41 per cent, from N138 billion in 2019 to N195 billion in 2020, while loans also increased from N72.2 billion in 2019, to N122 billion in 2020.

Due to many cost savings initiatives, the bank was able to curtail the growth in operating expenses to 12 per cent, below inflation at (15.75%) as at December 2020 with cost to income ratio moderating to 50.26 per cent from 51.12 per cent in 2019.

Overall, the bank maintained healthy prudential ratios above regulatory thresholds, with loan to funding ratio of 67.86 per cent, capital adequacy ratio of 19.87 per cent and liquidity ratio of 50.93 per cent as at December 2020. We also continued to record zero non-performing loans (NPL) ratio as we have since inception.

What should your customers and other stakeholders be expecting from the bank for the rest of 2021?

We will continue to grow our client base, deepen our market share and invest in expanding our digital footprint. Our clients can expect us to continue to add value to them and to enable them achieve their strategic objectives in a sustainable manner while we contribute our quota to rebuilding the economy.

Wigwe Named African Banker of the Year The Group Managing Director/CEO of Access Bank Plc, Mr. Herbert Wigwe, has been recognised as the African Banker of the Year at the 2021 edition of the African Banker Awards.

A winner of one of the most prized categories at the awards ceremony for the second consecutive year, Wigwe was recognised for his stellar leadership in the market expansion

of sub-Saharan Africa’s largest bank despite the negative impact of the COVID-19 pandemic.

A statement from the bank yesterday explained that over the last 12 months, Access Bank has established a presence in South Africa following its acquisition of Grobank.

Accepting the award, Wigwe said Access Bank is focused on promoting corporate discipline,

adding that the Bank wants to be in key markets on the continent, building a payment gateway and providing trade finance support.

“We want to be seen as the best bank supporting the African Continental Free Trade Area agreement (AfCFTA). In terms of diaspora remittances, we are present in key areas in the continent,” he said.

The African Banker Awards have become the most respected and recognised industry event celebrating African banking achievements. The organisers this year, put emphasis on recognising and rewarding institutions that contributed to the real economy which has suffered from the impact of Covid-19 as well as contributed to women empowerment on the continent.

Commenting on the award, Group Publisher of African Banker and Chair of the Awards Committee, Omar Ben Yedder said, “Herbert is one of the most respected bankers on the continent, without a shadow of a doubt.

“The bank has gone from a lower ranked Nigerian bank when he joined the group as Deputy CEO to become one

of Africa’s leading financial services groups. He has shown a relentless pursuit for growth, but has done so in a measured and calculated manner. What he and his team have done at Access Bank is nothing short of remarkable.”

The awards ceremony held virtually during the Annual meetings of the African Development Bank.

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Expanding Access to Sexual, Reproductive Health Services Ugo Aliogo writes on the need to expand access to sexual and reproductive health services for women and girls

Y

oung people face a number of obstacles accessing sexual and reproductive health services. These barriers relate to availability and accessibility as well as the quality of the services provided.

For example, laws and policies may limit young people’s access to services and contraceptives, and health centres may only address the needs of married women, a study by PLAN international has stated.

The study also noted that entrenched social norms and gender inequality around young people and girls’ sexuality implies that young people’s behaviours are controlled and they may be stigmatised for being sexually active.

The study noted that due to their age, young people’s ability to make decisions or express an opinion may not be respected, adding that these make it difficult, “and often prevent young people from accessing sexual and reproductive health services.”

In line with expanding access to sexual and reproductive health services for women and girls, Non-Governmental Organisations (NGOs), a notable one is Action Health Incorporated (AHI).

Action Health Incorporated is working in alliance with civil society organisations and governments to improve and expand sexual health services that respond to the needs of young clients.

AHI is presently running a project that seeks to reduce maternal and infant mortality and morbidity by increasing the access of women and girls in Gwoza and Damboa Local Government Areas, Borno State to primary health care services including sexual and reproductive health services.

The implementation strategy includes the provision of integrated primary health care services and coordinated humanitarian response with a specific focus on emergency sexual and reproductive health care services at the facility and through the mobile health, teams accessing hard to reach areas in host communities. The project aims to provide life-saving and life-sustaining humanitarian health assistance to affected Internally Displaced Persons (IDP) and host community populations. THISDAY gathered that 1804 women and 1565 girls were reached during the mobile medical outreaches, while adding that a total of 6520 (5,171 females and 1,349males) have been reached during community awareness sessions.

THISDAY also learnt that 1327 women and 923 girls have been reached with reproductive health kits commodities as of the third week in May 2021, while 303 Women and 89 Girls have been assisted by Skilled Birth attendant for safe delivery.

Reacting to the development, the Senior Programme Officer, Action Health Incorporated, Funsho Bukoye, remarked that the Nigeria Demographic and Health Survey (NDHS) 2018, showed that the lifetime risk of maternal death indicates that one in 34 women in Nigeria would

Ehanire have a death related to maternal causes and maternal mortality ratio: is estimated at 512 maternal deaths per 100,000 live births.

She also stated that cases of maternal and infant mortality and morbidity in the North East Nigeria can be traced to delay in reaching basic delivery care due to insecurity and road terrain, lack of access to skilled birth attendance different form of medical complications, obstetric fistula and others.

Agbado Oke Odo Summit Will Boost Trade, Employment, Say Organisers Oluchi Chibuzor The Chairman, Organising Committee of the Agbado Oke Odo 2021 Summit, Mr. Sheik Olayemi Subaru, has said the 2021 summit is expected to boost trade in Africa, while also addressing high youth unemployment in the country.

Subaru stated this in Lagos, recently. According to him, the Agbado Oko-Ode market is ranked second largest after mile 12 market, pointing out that the summit will feature professionals that would deliver professional advice to market traders.

He said there would be training and workshops organised for the traders and urged participating market associations to take advantage of opportunities, offered by the summit.

He said with the planned take off of the African Continental Free Trade Agreement (AfCFTA)

in top gear, there was need for Nigerian businesses to be fully prepared for it.

“These are some of the things we are trying to achieve, so that they can add value to our products and services and like I said, every economy revolves round human capital development, just to make sure that we put the right food on their tables and make sure people are happy from their various trades.

“Agbado-oke-odo have been carved out to be the biggest market in Alimosho local government area of Lagos in terms of population and land mass and probably the largest market carved out of the 10 communities making up Alimosho LGA,” he added.

He said the summit also sought ways to engage minds of youths in its bid to stop youths restiveness. He, however commended the Lagos state government’s efforts aimed at

making lives better for residents.

“I must commend our Governor, Mr Babajide Sanwo-Olu for giving us the support especially in this local government and presently, we are building the ICT market and by the time the ICT market is completed, it will help to alleviate poverty, create more revenues for the local government and create more job opportunities for our unemployed youths.

“This local government is ready and that is why we are trying to sensitise our people that when those facilities come on board, they will be able to take advantage of the opportunities they offer.”

He added that the summit would also help to boost local production, taking into cognisance, the need to produce quality goods, pointing out that it was one of the surest ways locally produced goods could compete at international markets.

She said: “Several efforts have been put in place to improve healthcare delivery in Nigeria.

However, poor manpower planning, poor healthcare infrastructure, insufficient healthcare providers have continued to pose as challenge in attaining the optimum level of healthcare in the country.

“Take for instance, the National Health Insurance Scheme (NHIS) which was design with the potential to promote access to needed quality

health care among Nigerian populace; yet, the scheme covers less than 5% of Nigerians. The enrollee population in the scheme is largely made up of Federal Government employees and their dependents.”

Bukoye who referred to a survey by PricewaterhouseCoopers (PwC), hinted that the National Health Insurance Scheme (NHIS), the scheme covers less than 5% of Nigerians. She further explained that the enrollee population in the scheme is largely made up of federal government employees and their dependents, “while a survey by the Lagos Bureau of Statistics also revealed that only 11 per cent of household members in the state have their healthcare costs covered by any form of health insurance.”

However, the PwC survey noted: “To bridge the coverage gap, several states have commenced the establishment of State Health Insurance Schemes. Presently, about 19 States are at various stages of their implementation journey. “These schemes typically involve the establishment of a governing agency to oversee the implementation and management of the scheme. They have also defined benefit packages to cater to the most common healthcare occurrences.

“Of significant note though; state governments commit to dedicate a percentage of their consolidated revenue to the scheme to fund premiums for the poor and vulnerable in the state. These schemes, if successfully implemented and operated, could prove to be a significant tool in making affordable healthcare more accessible throughout the country especially to the poor and vulnerable in society.

“As with any large scale endeavor of this nature, there are several key success factors which need to be in place to ensure the schemes are successful and sustainable.”

Continuing, she posited that government needs to improve in the implementation of health policies and strengthen the structure, noting that there was need to ensure that primary healthcare system is operational and gets to the farthest and rural communities in Nigeria.

She added: “One of the key strategies to strengthen the health sector coordination is to ensure that our Health policies are in tune with the needs of the people and are implemented after development.

“Most times, the policies do not transcend into actions and we end up not achieving the desired outcomes at the end of set target period.

A clear policy direction defines quality and sets the stage for effective implementation of a quality improvement plan. “Also, there is need for health systems strengthening which include capacity building, well-functioning health facilities, health financing and availability of life saving commodity and essential drugs.

“Furthermore, there must be effective partnership and collaboration between various health actors in attaining the optimum healthcare delivery in the country.”

Solad, Arizona Varsity Announce Partnership on Mini Grids Solad Power Group, one of Nigeria’s distributed energy solutions providers, has agreed to a partnership with Arizona State University (ASU) to utilise the university’s proprietary artificial intelligence data platform to assess mini-grid projects in Nigeria quickly and efficiently.

As a participant in the World Bank supported Rural Electrification Agency (REA) Mini-Grid programme, Solad is rolling out solar solutions to markets across Nigeria. The company has a near-term pipeline of 12 priority projects. The partnership with ASU’s Laboratory For Energy And Power Solutions (LEAPS) enables the accelerated deployment of 25 new sites. Data will be collected through LEAPS’ existing partnerships with YouthMappers and Nigerian universities, whose students will deepen their knowledge of and exposure to distributed energy solutions.

Commenting on the alliance,

Solad’s Chairman Constantine ‘Labi Ogunbiyi said: “We are proud to be collaborating with the largest research university in the United States. By combining ASU’s unique data platform with our own project portfolio and market access, we can deliver new power solutions much more efficiently. This means we can rapidly expand and validate our project pipeline while ASU grows its knowledge and understanding of market viability with Nigerian students participating in the process.

“Once the first phase is successful, we intend to expand collaboration to include hundreds of additional sites. Using ASU’s accurate technical and business data metrics, we will continue to invest in energy as a service allowing us to connect Nigerian MSMEs to the world, beginning with clean energy systems providing consistent power supply, and expanding our services through

a mobile first, digital eCommerce portal.”

Director of ASU LEAPS, Dr. Nathan Johnson, remarked about the importance of innovation and partnership, saying: “The public-private partnership with Solad will accelerate identification and development of mini-grid sites to expand access to reliable, affordable, and renewable energy.

“The technical analysis provided by ASU is paired with innovative business models by Solad to create bankable minigrid investments that address the goals of all stakeholders.

Solad’s approach provides a tangible return on investment to facilitate site expansion and economic development.”

Solad focuses on under-served segments of the energy market, prioritising support for the millions of market traders who struggle with access to unreliable or prohibitively-expensive energy solutions.

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MONDAY, ͺ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

CAVEAT EMPTOR: THIS HOTEL IS NOT FOR SALE

MONDAY, ͺ΀˜ ͺ͸ͺ͹ ˾ T H I S D AY

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CAVEAT EMPTOR: THIS HOTEL IS NOT FOR SALE

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T H I S D AY ˾ ͰͶ˜ ͰͮͰͯ

CITYSTRINGS

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Retiring to Post-service Life Chiemelie Ezeobi writes that the Nigerian Armed Forces Resettlement Centre, which is saddled with the task of integrating military retirees into civil life, recently churned out 343 retirees after intensive training on various entrepreneurial skills to ease their transition

Cross section of retirees and other senior officers

F

or 35 meritorious years or less, 343 soldiers went through series of military trainings to ensure they turn out to be professional soldiers in their various units and fields. Throughout those years, they recited the soldiers creed, and were solely dedicated to the actualisation of the Armed Forces core responsibilities whatever the cost or odds.

But six months to their retirement, it was time to reformat their thinking process back to the civilian life they were used to before their sojourn into military life. Thus began their journey to the Nigerian Armed Forces Resettlement Centre (NAFRC), a centre established for military retirees to transition into civil life.

To ensure such smooth and seamless transition back to civil life, NAFRC was borne. At the centre located at Oshodi, Lagos, the retirees undergo training and re-training to ease their transition.

They are also equipped with relevant civilian skills that would ensure they are kept busy.

For the current graduates drawn from the Nigerian Air Force (NAF), the Nigerian Army (NA) and the Nigerian Navy (NN), they were equipped with relevant trades and vocational skills.

The retirees, comprising 258 from the NA, 70 from the NN and 15 from the NAF, who were sent off at a passing-out ceremony held at the resettlement center in Oshodi, had undergone preparatory and skills acquisition training to equip them with needed tools for easy reintegration into civil life.

Addressing the retirees, the Chief of Defence General, General Lucky Irabor reminded them their passing out parade signified a setting dusk in their distinguished military career, as well as a testimony of their determination, commitment and discipline.

Irabor who was represented by the Chief of Training and Operations, Defence Headquarters, Rear Admiral George Eyo, said the pre-retirement course was designed to give trainees the requisite rudiments for a successful reintegration into civil life after a meritorious service to the country.

He said: "It is our hope that on completion of this training, our gallant discharging servicemen and women seated here today will apply the knowledge and skills they have acquired and by so doing, comfortably enjoy the post service life."

He urged the retirees to remain good ambassadors of the Armed Forces, maintain highest level of integrity and ensure they contributed towards nation building as they go about their businesses.

He added, "you will from now on take full charge as planners and executors of your personal daily activities, This may sound exciting and promising but beware; you need to properly manage your freedom in order to be successful.

"The society will expect a high moral standard and discipline from you. You will also have to prove in your relationships that you passed through a highly disciplined system.

"As our well-grounded ambassadors, I believe you are all capable of excelling in your future endeavors and positively influence your environment for the economic development of our dear country.

"It is equally necessary for me to inform our discharging colleagues that post-service life has its peculiar challenges.

"Some of these challenges you may encounter would include but not limited to management of resources especially retirement benefits, influences from friends and family members management of both mental and physical health as well as integrating with the civil society.

L-R: Chief of Training and Operations, Defence Headquarters, Rear Admiral George Eyo with one of the retirees as NAFRC Commandant, Air Vice Marshal (AVM) Adamu looks on "Therefore, I urge you to be proactive in your conduct in order to avoid or overcome these challenges.

"You must appreciate that it is risky for you to embark on a new life style that is above your means, or engage in non-lucrative ventures neither should you abstain from physical exercises."

The CDS further urged them to put to good use, the various entrepreneurial, business development and management skills they had learnt at NAFRC for economically productive and successful life after retirement.

He also commended NAFRC leadership for its relentless efforts at ensuring that discharging Armed Forces personnel were exposed to the latest trends in global entrepreneurship and management training. In this wise, your reviewed curriculum has enabled trainees to benefit from the modern trends of doing business.

"I am aware that the Commandant has initiated a case to convince appropriate authorities on the need to allocate starter packs in form of cash for trainees upon completion of their course here. " I believe this move by the Commandant has reached an advanced stage, and hopefully subsequent courses may benefit from this effort," said the CDS, he further stated.

Earlier, NAFRC Commandant, Air Vice Marshal (AVM) Adamu Idris said the centre has trained about 50,000 personnel since inception, adding that other Nigerians have also benefited from trainings at the centre.

He said: "The Nigerian Armed Forces Resettlement Centre was established with the mandate of providing quality training on relevant post Service skills to retiring personnel of the Armed Forces of Nigeria in order to prepare them to face the challenges of integrating into post-service civil life.

"We have successfully conducted various vocational training for youths in Lagos State and environs. The centre has also successfully trained members of paramilitary agencies as well as staff of Federal Government of Nigeria Ministries, Departments and Agencies (MDAs).

"The Nigerian Armed Forces Resettlement Centre is well-positioned to optimally deliver on its core mandate of vocational training not just for only retiring personnel of the Armed Forces of Nigeria but also for all Nigerians.

"Pursuant to this belief, the available human and capital resources have been harnessed to transform the centre into a world class institution and a centre of excellence, where international best practices in vocational training is the norm.

"The centre will continue to explore ways and means to enhance the process of teaching and learning as the room for improvement can never be exhausted. Already, we have kick-started the enhancement of some of the Centre’s physical and social infrastructural systems. " The training we provide helps beneficiaries to be equipped with skills for self-sustenance, earn meaningful income while keeping them positively engaged.

"This enables them to contribute meaningfully to their various societies thus reducing crime, criminality as well as other vices from our society.

All these are deliberate steps towards building a greater Nigeria. " At the event were security chiefs and heads of government agencies in Lagos including the General Officer Commanding (GOC) 81 Division, Major General Lawrence Fejokwu: Flag Officer Commanding (FOC), Western Naval Command (WNC), Rear Admiral Jason Gbassa; and Air Officer Commanding (AOC) Logistics Command, Air Vice Marshal (AVM) Sunday Makinde.

Lagos Traders Raise Alarm over Attempt to Foist Leadership on BBA Market Chiamaka Ozulumba

T

raders, shop owners and stakeholders operating under the aegis of Balogun Business Association (BBA) in Lagos State, recently raised alarm over alleged attempts to foist leadership on them.

They alleged that some persons, said to be loyal to their former Chairman, Chief Okey Ezeibe, have been recruited to carry out the act.

The aggrieved traders who addressed journalists at the association's secretariat at the popular Lagos International Trade Fair Complex, Badagry Express Way, Ojo, alleged that credible intelligence in their possession, indicated that the planned unlawful invasion of their hitherto peaceful market , would take place between Sunday, June 27 to Wednesday, July 28 , 2021.

They alleged that if the threat remains unchecked, it might lead to bloodshed of innocent traders, given that a similar friction between 2005 and 2007 led to unnecessary waste of lives in the market.

Vowing to ensure resistance against unlawful take over of their market, they called on the Lagos State government, the Inspector General of Police, the Directorate of State Security Service and the state Commissioner of Police, to urgently intervene in the crisis to forestall possible breakdown of law and order.

According to the Chief Security Officer, (CSO) of the association, Chief Celestine Emechebe, the traders would do everything within the ambit of the law to defend themselves and the market from being unlawfully taken over.

While giving insight into the cause of the crisis he said: "It was chief Ezeibe's insistence on heading our association's Board Of Trustees as chairman many years after he completed his tenure as president contrary to the market constitution, which provides that the incumbent president should be chairman was what started the crisis.

"Despite that I regard Chief Ezeibe as my mentor, I have advised him privately to allow the present administration and caretaker committee led by Chief Anselm Duru , to complete its term next month, to make way for a peaceful election on July 28 but he refused to allow peace reign in the market."

According to the Founding Father of BBA, Ambassador Leonard Ogbonna, who is also the secretary of the caretaker committee inaugurated by the outgoing president, Chief Tony Obih, "Greed on the part of Ezeibe has been our problem here. I was the person that invited Ezeibe from Automobile Spare Parts Market to join us in BBA, after I and few other founding fathers had conceptualised the idea for the association in 1990, due mainly to congestion , extortion by social miscreants and shylock landlords, who were oppressing us at our former location at Lagos Island.

"At the expiration of Chief Tony Obih tenure as president, he could not conduct an election due to the COVID-19 lockdown. As stipulated in our constitution, the out going administration then inaugurated a caretaker committee headed by Hon. Anselm Duru.

"After the expiration of the constitutional two months lifespan of the committee, we approached a Badagry Magistrate court for an extension, which was granted untill July 31, 2021 and upheld by a Federal High Court.

"We have appointed a Constitutional Returning Officer by the name of Chief G. O . Umunnabuike , who has instituted an

electoral panel already working, with our elections fixed for July 28, next month."

The court granted the application of the association on June 24 by its leadership, led

by Chief Anselm Dunu, to quash a purported decision of the Corporate Affairs Commission (CAC), revoking the current Certificate of Registration of the association.

The application of the association is for orders of certiorari, prohibition and injunction arising from a letter addressed by the commission to some of the lawyers involved in the imbroglio.

The order followed an application made by six members of the market for themselves as incumbent chairman and secretary, respectively, of caretaker committee of the association representing other incumbent members of the committee upon an ex-parte motion seeking an order granting leave to them to quash the letter issued by revoking and cancelling the certificate of registration of the association.

After hearing the case, the court therefore ordered a leave to be granted to the applicant for orders of certiorari, prohibition and injunction against the respondent within seven days of the order.

35

T H I S D AY ˾ ͰͶ˜ ͰͮͰͯ

CRIME&SECURITY

Aborted Dreams and a Life Abruptly Cut Short With the brutal murder of Super TV Chief Executive Officer, Michael Usifo Ataga by 21-year-old Chidinma Adaora Ojukwu, a 300-level Mass Communication student of University of Lagos, Chiemelie Ezeobi reports that amid effort by the police to unravel the intricacies, and appeal by the bereaved family, the case has painted the picture of a girl who seemingly lived double lives

Chidinma

Ataga

hen the police from the Lagos State Police Command came knocking at the Lagos home of Mr. Ojukwu, an accountant, he first pondered why they were there. Nothing prepared his mind for the shocker their visit would bring- his 21-year-old daughter was accused of murder.

At first, he refused to believe them. In fact, he was said to have attempted to fight off the operatives when they tried to arrest her. But he was eventually overpowered and arrested too given that he tried to obstruct justice, albeit naively.

His daughter, Chidinma Adaora Ojukwu, a 300-level student of the University of Lagos (UNILAG) had murdered sleep after she brutally stabbed the Chief Executive Officer of Super TV, and a Director in Super Network Limited, Michael Usifo Ataga, to death after alleged bouts of pleasure.

Who would blame him? On the said day the murder was purportedly committed, the suspect had told her father that she was going for an ushering job. Knowing the financial status of the family and being not the first time she went for such "jobs", he had no qualms in allowing her to go.

W

at the Lagos State Police Command headquarters in Ikeja, confessed to the crime, adding that the scuffle that led to his death was because the deceased had allegedly forced her for another bout after several rounds of sex.

She admitted to have stabbed him severally during the scuffle, tied him up and left him to bleed to death. She then proceeded to take his ATM cards, his phones and laptops, the latter which she formated and sold at Computer Village before the police arrested her.

In her confession, she said she was hooked up with the deceased by her friend four months ago and they had a smooth relationship until the scuffle.

On the day of the incident, the suspect, who resides with her father at Yaba, told them she was going for an ushering job but went on to meet with the deceased at the short-let apartment. According to her, prior to the sex, they had taken some intoxicating drugs like "SK" and when the man attempted to go for another round, she had refused but he had his way with her.

She said they had first engaged in an argument before the deceased allegedly tried to choke her, an act she said made her to stab him twice before she fled the apartment.

Disappearance When the case of the deceased first got to the public sphere, it was more of a case of a missing person. Some of his family and friends first reported him missing and frantic efforts were made to reach him to no avail.

The Drug Factor The suspect during interrogation had claimed that they both took tons of "SK" and "Loud", both very potent drugs that made them inebriated.

Corpse Found Unfortunately, when he was finally found, it was his corpse that was seen. The service cleaner at a short service apartment in Lekki, found his corpse when she accessed the suite to clean it. The police were then invited.

Flashback To unravel the murder, the first line of step for the police was to identify the corpse but that was a tad difficult since the assailant stripped him of all identifiable including his phone. Another attempt to track him through payment for the apartment showed it was a lady that made payment. With that clue, they also watched the CCTV footage, which showed moments that they entered.

The Arrest The next attempt was tracking down the suspect to her father's house in Yaba where she was arrested to the shock of all present. She confessed to the crime during interrogation but clarified that her father had no knowledge of the act. This prompted the police to release him on bail. The police also released one Nkechi Mogbo, the lady who operated the service apartment where the murder took place.

Confession The suspect, who was paraded last Thursday

Controversies Ataga’s death has become a subject of speculation and all sorts of conspiracy theories with most bothering on the absurd. Also, it has been riddled with so much misinformation and hearsay.

Some unknown posts have been circulated about how she was a serial blackmailer while others showed her in a provision store where she sells drinks. Yet another video showed her puffing cigarettes without recourse, all painting the picture of a girl who lived double lives.

Bereaved Family For the Ataga family, his death was one too painful to decipher, especially with the way it happened. Thursday, June 17, which was the morning of his birthday, was actually the day they realised he was dead.

Ironically, his mother had taken to Facebook that Thursday, a popular social media platform, to wish him a happy birthday without an inkling that his dead body was found on Wednesday by the short-let apartment when the service cleaner accessed the flat to clean it.

The third boy in a family of four- three boys and a girl, the deceased had told few friends and family that he planned to travel to Abuja so when they didn't see him, they were not alarmed. It was only until Thursday that they were informed that he was missing.

Given the hullabaloo the case has generated, especially with the sprinkle of misinformation, the family had on Sunday called for restraint,

just as they appealed to members of the public with useful information on the gruesome murder of their son to give such information to the police. As reported by THISDAY, the family spokesperson, Dr Isi Ataga, said they also have questions of their own, adding that the facts as revealed by the police so far didn’t add up.

In the statement issued by the family, they said: “We ask, sincerely, that you let us grieve this terrible loss with some privacy. This past week and a half has been the worst period of our lives.Here are the facts. A little over a week ago, unknown persons savagely killed our beloved son, Usifo Ataga. With no regard for him, or his family, who love him, they viciously ended his life.

"His children will grow up to read unkind, thoughtless words from thousands of people who have joined the lynching party in the press and the blogosphere. Our aging parents must now struggle to pick up the pieces amid a cacophony of misinformation propagated by strangers.

“A suspect has been arrested and paraded before the press. We, the Ataga Family, are grateful to the Nigerian Police for pursuing this investigation. However, like you, we have many unanswered questions. Some things don’t add up. If you have any information, don’t hide behind online posts. Instead, come forward and share it with the police.

“Here’s what we do know. The more you add to the false information in the press and on social media, the harder it is for the Nigerian Police to do their work and fully solve this case. The harder it is for a grieving family to recover from the loss of their beloved son.”

Police Angle At the parade of the suspect last Thursday, the state Commissioner of Police, Hakeem Odumosu said following investigation, the suspect was picked up at her parent's home at Alagomeji, Yaba, adding that efforts are ongoing to apprehend and cause other culprits involved in the heinous crime to face the full weight of the law and justice.

According to him, the suspect had conspired with others, now at large, to murder Ataga. He said part of the exhibits recovered were one drivers license, complimentary cards, Access Bank Statement Account and one Nigeria International Passport with No.B50010434 belonging to the suspect, one fake drivers license bearing Mary Johnson with the suspect’s photograph.

Others include one National Identification Card bearing the suspect’s name, one UBA ATM debit card bearing the suspect’s name and one University of Lagos ID card bearing the suspect’s name.

However, the murder weapon- a knife, was still missing as the suspect confessed that she disposed of it in a dustbin near her house.

This is just as Odumosu said the case will be charged to court as soon as investigation is concluded.

He said: " The command, due to its unrelenting

and professional commitment in unraveling the incident, swung into action, deployed its human and material resources to apprehend the prime suspect on Wednesday, June 23, 2021 at about 9pm at her Yaba residence; and she is being paraded today.

"The suspect conspired with others, now at large to allegedly murder one Michael Usifo Ataga, m, 50, by stabbing him severally with a sharp object at a short service apartment...

"The prime suspect, Chidinma, who had earlier booked for the apartment on 13/6/21 secretly, left the apartment after the deed had been done on 15/6/21 at about 1730hrs. The suspect was tracked and arrested in her resident at No. 57 Akinwunmi Street, Alagomeji, Yaba-Lagos. " During search, the prime suspect and Mass Communication Student of the University of Lagos, was caught with a blood-soaked cloth, ostensibly worn on the day of the incident. The suspect confessed to have stabbed the deceased with a kitchen knife after a struggle.

"She further confessed to have taken the knife away while leaving the scene and disposed same in a dust bin at her residence. It has also been revealed that the suspect equally stole the deceased iPhone. Investigation is ongoing to arrest other accomplices."

Intricacies She was unassuming, innocent-looking and some might even say naive. But that was the extent family and friends, and even neighbours and classmates knew her. To all who knew her, had she not confessed to the crime, they certainly won't have believed her capable of such.

When the news first broke, many waved it off as a crime of passion, while others weighed in the 'rape' accusation, especially since she alleged he took a date rape drug too. But with further revelations showing she allegedly tied him up after stabbing him, took his ATM to make withdrawals, sold his phone and wiped off the contents of his laptop, the public soon began to refer to her as a femme fatale.

Also, police revelations that she has a fake driving license bearing “Mary Johnson” with her photograph, as well as the videos popping up that showed her proficiency in smoking and handling of scissors, wilted the initial support she had garnered.

While many still ponder what led her to take such life-changing drastic decision, it still behoves the police to unravel all intricacies including their position that she probably had accomplices.

But more importantly, her action has caused all to ponder how she was able to successfully show two complete facets of her life to the world. Whatever the case may be, her fate now lies in the hands of the court and the evidence gathered by the police.

Nonetheless, while hers may be a case of aborted dreams for her future, that of the deceased had become that of a life abruptly cut short in its prime.

36

T H I S D AY ˾ ͰͶ˜ 2021

BUSINESS/MONEYGUIDE

Ahmed Commends NGX on Capital Market Development Goddy Egene The Minister of Finance, Budget and National Planning, Zainab Ahmed, has commended the Nigerian Exchange (NGX) Limited for its efforts in ensuring that the Nigerian capital market is deepened to play a major role in the growth of the nation’s economy.

Ahmed gave the commendation during a courtesy visit of the management of the NGX, led by its chief executive officer (CEO), Mr. Temi Popoola in Abuja.

While acknowledging the commitment of NGX’s management, which culminated in the demutualisation of the exchange, minister urged the management to leverage technology and innovations which could ease

the processes of trading on the exchange. She also called on the exchange to ensure that ordinary citizens participate actively in the capital market. She said the federal government had directed the Securities and Exchange Commission (SEC) to organise a saving policy and programme that would encourage citizens to participate actively in the capital market as a means of unlocking the potential.

The minister also disclosed that the ministry was working on the Finance Bill 2021 and would address hindering investments such as Company Income Tax (CIT), among others.

Also speaking, the Permanent Secretary, Aliyu Ahmed, urged Popoola and his team to scale up the operations of the NGX

for the benefits of investors and the market.

Earlier in his speech, Popoola noted that the aim of the visit was to introduce the NGX’s new management to the minister and also to appreciate the ministry for its support to the Nigerian capital market.

He assured the minister that the exchange would continue to give its support in making Nigeria a destination for foreign investment and to support the ministry’s fiscal policy while expressing willingness to serve on the committee of the Finance Bill 2021. He, however, called for a reduction in CIT, from 25 per cent to 20 per cent, among others, stressing that it would ultimately attract more taxes to government.

Julius Berger AFP Launches Website for Customers’Convenience Julius Berger AFP, the furniture manufacturing and interior design unit of engineering firm, Julius Berger Nigeria Plc, recently launched its product website,www.afp. ng, to showcase its products to prospective clients.

According to the company, it also has a virtual showroom and is now looking to embed this 3D platform into the new website, to provide clients with a more personalised searches for products and services.

Aside these, the company equally has three physical showrooms in Abuja, Lagos and Port Harcourt.

Commenting, AFP’s General Manager, Oliver Cohnen, said: “This is a significant step toward improving the AFP brand experience and providing our customers

with the ability to match choice products and material to meet personal needs and demands as the website offers a wide range of taste and style options.”

He described the website as, “cool, enchanting, modern and contemporary; featuring AFP’s exciting range of products, projects, materials, showroom locations, contacts, news and information, as well as a comprehensive account of the various activities across our showrooms and virtual space.”

Speaking further on the AFP furnishing solutions and offerings, the Head of Media Relations Office of the Julius Berger Nigeria Group, Moses Duku said: “At the AFP, as is emblematic across the Julius Berger value chain, we offer only the very best experience in terms of upscale quality, great aesthetics and lasting solutions

to our highly valued customers. We earn our customers’ guaranteed loyalty with peak product standard and reliable service. We are Julius Berger, and we vow and assure consistency to that matchless Julius Berger engineering and reliable service standard in every of the AFP’s offerings.”

According to him, Julius Berger AFP services both private and corporate entities, providing them with a unique variety of its signature products as well as custom-made options.

He noted that AFP is a strategic business unit of Julius Berger Nigeria Plc, guided by leading standards in quality, capacity and innovation with a foundation that reinforces its ability to source topnotch materials and components’ supplies.

Access Bank Offers Internship Programme on SOPs Mgt to Public Servants Olawale Ajimotokan ÓØ ÌßÔË Access Bank has offered to sponsor two civil servants on a two-week internship programme at the bank, on the management of the service-wide Standard Operations Procedures (SOPs) on key performance indicators, process workflows, technology and governance.

Head of Service of the Federation, Dr. Folasade Yemi-Esan, made the disclosure while briefing journalists on activities to commemorate the year 2021 Nigeria Civil Service Week.

Selected officers, one each from the various departments in the OHCSF and staff of

SERVICOM have undergone a three-day virtual training on SOPs sponsored by Africa Initiative for Governance (AIG) and Access Bank.

The OHCSF and SERVICOM are collaborating to make SOPs serve as KPIs for assessing the compliance of MDAs to service delivery standards.

The development of the SOPs is a major and fundamental step towards the successful implementation of Enterprise Content Management Solution (ECMS).

The SOPs have been developed for all 26 departments in the OHCSF through a thorough process aimed at assisting officers understand and document their

business processes which is a prerequisite for digitalisation.

In addition, she said plans were also being finalized to commence the ISO 9001/2015 certification training for both staff of the office of head of service and SERVICOM. She also added that the federal government has provided N9, 248,995,907.31 as Group Life Assurance cover for workers in 48 MDAS for the 2021 and 2022 respectively.

She said the funds would be paid to the 15 shortlisted underwriters once the Federal Executive Council (FEC) released it through the office of the Accountant General of the Federation (AGF).

Firm Promotes Financial Inclusion, Savings Culture Dike Onwuamaeze Richvest 360 Nigeria Limited, an online investment firm, has launched a platform that would enable Nigerians to save and make profitable investments.

The platform would also bring banking to the unbanked in order to make saving easier and enable them to have quicker and easier access to loans.

The Head of Operations at Richvest 360, Mr. Tobi Dada, said Richvest has investment products that would make it

easy for Nigerians and provide them with smart ways to grow their money.

Dada said this was in line with its mission to raise young, smart 21st century investors and help them to make smart financial decisions. He said: “The bigger picture for Richvest360 is to bring banking to the unbanked. To make saving easy for people, and enable quick and easy access to loans while providing smart ways to help them grow their money.

“Richvest 360 investment is a

platform that caters to everyone across all genders, age groups and purposes to serve and make life easier for them.

“Investing in Richvest 360 is a profitable investment initiative that is set to help people become financially independent and free.

“Richvest 360 is one of the leading investment companies in Nigeria that offers people opportunities to build their financial legacy by providing multiple sponsorship channels to in the industry of their interest.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE ˜ Ͱͱ ͰͮͰͯ

The price of OPEC basket of thirteen crudes stood at $74.09 a barrel on Thursday, compared with $74.01 the previous day, according to OPEC Secretariat calculations.

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

37

T H I S D AY ˾ ͰͶ˜ ͰͮͰͯ

Nigerian Exchange Limited Lists Shares of GTHoldco Goddy Egene The Nigerian Exchange (NGX) Limited last week listed Guaranty Trust Holding Company Plc (GT HoldCo) after delisting Guaranty Trust Bank Plc. The entire 29,431,179,224 issued shares of GTB were delisted while GT Holdco’s entire issued share capital of 29,431,179,224 ordinary shares of 50 kobo each were listed on the bourse. The NGX had penultimate week suspended

trading in the shares of GTBank in preparation for the delisting and listing of GTHoldCo pursuant to the Scheme of Arrangement between the bank and its shareholders. In November 2020, Guaranty Trust Bank (GTBank) had notified NGX that it had obtained regulatory approvalin-principle (AIP) to restructure into a financial holding company (Holdco), which was approved later by the bank’s shareholders.

The Managing Director of GTBank,

P R I C E S MAIN BOARD

F O R DEALS

Mr. Segun Agbaje, had said the transition into a holdco was a necessary step to future-proofing their leadership position, sustainably growing their earnings and achieving their long-term goal of becoming one of the top five financial institutions in Africa. “ It is also a critical part of our response to the seismic shifts in customer expectations and changes in business models.

As a holdco, we will compete more effectively with non-banks

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in the new competitive landscape, pairing our strength in financial services with an aggressive focus on creating value in every aspect of our customers’ lives,” he said.

GTBank plans to diversify into payment service banking (PSB), asset management business and pension fund administration (PFA) without any distractions to its core banking business.

Commenting on the development, a portfolio analyst at Comercio Partners, Afolabi

T R A D E D MAIN BOARD

A S

Ogunlayi, said the holdco company was likely to go through an inorganic expansion route for the asset management and pensions arms, making Investment One Financial Services a likely target in this regard. According to him, the bank currently has the financial muscle to effectively leverage the asset management business, while its large staff and customer base should be the starting point for its pensions market penetration strategy. However, Ogunlayi

O F

noted that that investors should expect the value of the holdco strategy to become apparent in the long term, after the impact of the new business lines feeds into the group’s numbers and props up its performance.

The analyst further adds that, while the pathway is not completely clear at the moment, the sentiment around the stock is great, and investors should see an improvement in the long-term intrinsic value.

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38

˾ MONDAY, JUNE 28, 2021

Monday, June 28, 2021 ŽŵĞƐƟĐ ƋƵŝƟĞƐ DĂƌŬĞƚ͗ Sell-KīƐ WĞƌƐŝƐƚ ŝŶ ƚŚĞ >ŽĐĂů ŽƵƌƐĞ͙ ^/ ĚŽǁŶ Ϯ͘ϲй ǁͬǁ

THISDAY AFRINVEST 40 INDEX

Downtrend was sustained on the local bourse this week as Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

the NSE All-Share Index trended southwards on 4 of 5 trading sessions. Consequently, the benchmark index shed Ϯ͘ϲй ǁͬǁ ƚŽ ƐĞƩůĞ Ăƚ ϯϳ͕ϲϱϴ͘Ϯϲ ƉŽŝŶƚƐ ǁŚŝůĞ zd ůŽƐƐ

worsened to -ϲ͘ϱй͘ DĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐƌĞĂƐĞĚ ďLJ േϱϭϲ͘ϯďŶ ŝŶ ǀĂůƵĞ ƚŽ ĐůŽƐĞ Ăƚ േϭϵ͘ϲƚŶ͘ dŚĞ ŶĞŐĂƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ůĂƌŐĞůLJ ĚƵĞ ƚŽ ƉƌŝĐĞ ĚĞƉƌĞĐŝĂƟŽŶ ŝŶ bellwethers – /Zd > & (-10.0%), E' D (-ϯ͘ϵйͿ͕ ĂŶĚ h D Ed (-ϯ͘ϰйͿ͘ ĐƟǀŝƚLJ ůĞǀĞů ǁĂŶĞĚ ĂƐ ĂǀĞƌĂŐĞ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ĨĞůů ϭϴ͘Ϭй ĂŶĚ ϮϬ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ

Ticker

THISDAY AFRINVEST 40

1,599.71

-0.18%

678.00

0.0%

27.8%

71.50

0.0%

11.5%

-7.6%

9.1%

-11.7%

1 Airtel Africa PLC 2 BUA Cement Plc 3 Guaranty Trust Bank PLC 4 Zenith Bank PLC

28.55

5 Dangote Cement PLC 6 MTN Nigeria Communications PLC 7 Nestle Nigeria PLC 8 Lafarge Africa PLC 9 Access Bank PLC

ϮϬϮ͘ϳŵ ƵŶŝƚƐ ĂŶĚ േϮ͘ϰďŶ͘ dŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀŽůƵŵĞ

10 United Bank for Africa PLC 11 FBN Holdings Plc

were E/d, ;ϳϰ͘ϮŵͿ͕ dZ E^ KZW (62.2m), and ^^

12 Nigerian Breweries PLC 13 Stanbic IBTC Holdings PLC

(49.0m) while E/d, (േϭ͘ϳďŶͿ͕ ^d E / (േϱϴϲ͘ϱŵͿ ĂŶĚ DdEE (േϱϯϰ͘ϯŵͿ ǁĞƌĞ ƚŚĞ ƚŽƉ ƚƌĂĚĞĚ ƐƚŽĐŬƐ ďLJ ǀĂůƵĞ͘

^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ŵŝdžĞĚ ĂƐ ϯ ŽĨ ϲ ŝŶĚŝĐĞƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ ĐůŽƐĞĚ ŝŶ ƚŚĞ ƌĞĚ͘ dŚĞ &Z-/ d ŝŶĚĞdž ǁĂƐ ƚŚĞ

biggest loser, down 5.2% w/w following losses in /Zd > & (-10.0%) and DdEE (-ϭ͘ϮйͿ͘ dŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ƚƌĂŝůĞĚ͕ ƐŚĞĚĚŝŶŐ ϯ͘ϯй ĂŶĚ Ϭ͘ϴй ǁͬǁ

account of buying interest in ^d E / ;нϮ͘ϳйͿ ĂŶĚ &/ >/dz ;нϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ĂŶĚ Kŝů Θ 'ĂƐ

9.0%

60.0%

15.0%

3.5%

-20.4%

10.0%

3.5%

40 Transcorp Hotels Plc

-7.6%

19.1%

11.2%

34.3x

6.5x

2.5%

2.9%

-11.7%

26.6%

4.3%

4.1x

1.0x

10.5%

24.3% 31.2%

23.80

0.0%

7.2%

-4.0%

-4.0%

23.1%

2.9%

3.2x

0.7x

12.7%

-3.9%

6.0%

-9.8%

-9.8%

32.0%

15.5%

12.4x

3.9x

7.2%

8.1%

163.00

-1.2%

5.2%

-4.1%

-4.1%

97.1%

11.4%

14.6x

13.2x

5.8%

6.9%

-7.0%

-7.0%

104.8%

17.8%

28.3x

37.9x

4.3%

3.5%

-0.2%

8.8%

6.2%

10.6x

0.9x

4.8%

9.5%

16.4%

1.4%

2.6x

0.4x

9.5%

39.2%

0.3x

7.2%

8.40

1.2%

3.1%

-0.6%

-0.6%

7.25

1.4%

2.5%

-16.2%

-16.2%

7.25

0.7%

2.7%

1.4%

1.4%

11.1%

1.1%

3.9x

0.3x

6.2%

59.85

0.0%

2.4%

6.9%

6.9%

4.5%

1.8%

64.9x

3.0x

1.6%

1.5%

40.05

0.9%

2.3%

6.1%

6.1%

20.7%

2.9%

7.1x

1.4x

8.5%

14.0%

-15.5%

-3.4%

5.40

0.0%

1.6%

-9.2%

-9.2%

29.75

-0.2%

1.3%

14.4%

14.4%

700.00

0.0%

2.0%

74.0%

74.0%

1.6%

0.9%

-100.0%

7.4%

3.2%

ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘ϵdž ;ĂŐĂŝŶƐƚ ϭ͘ϳdž ƌĞĐŽƌĚĞĚ ůĂƐƚ ǁĞĞŬͿ ĂƐ ϯϬ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ĂŐĂŝŶƐƚ ϯϰ ƚŚĂƚ ĚĞĐůŝŶĞĚ͘ dŚĞ ďĞƐƚ ƉĞƌĨŽƌŵĞƌƐ ǁĞƌĞ >/E< ^^hZ

;нϭϴ͘ϮйͿ͕ s/d &K D

;нϭϳ͘ϴйͿ ĂŶĚ ,KEz&>KhZ ;нϭϬ͘ϳйͿ ǁŚŝůĞ ƚŚĞ ǁŽƌƐƚ ƉĞƌĨŽƌŵĞƌƐ ǁĞƌĞ ZKz > y (-12.5%), /Zd > & (-10.0%), and EW&D Z& (-ϴ͘ϵйͿ͘ tĞ ĂŶƟĐŝƉĂƚĞ Ă ƉŽƐƐŝďůĞ ƌĞďŽƵŶĚ ŝŶ ŵĂƌŬĞƚ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ƚŚĞ ĐŽŵŝŶŐ ǁĞĞŬ͕ ĂƐ ŝŶǀĞƐƚŽƌƐ

T ic k er

4.7%

0.6x

6.0%

2.4%

0.0%

1.0%

15.9%

15.9%

24.6%

16.0%

12.8x

2.9x

6.5%

7.8%

2.32

0.4%

0.7%

-7.9%

-7.9%

11.4%

1.1%

2.3x

0.3x

9.5%

43.3%

13.5%

5.00

0.0%

0.6%

-16.7%

-16.7%

0.6%

0.0%

66.6x

0.2x

18.00

0.6%

0.7%

2.3%

2.3%

25.5%

12.6%

7.4x

1.8x

8.3%

3.00

-3.2%

0.5%

-9.9%

-9.9%

4.9%

30.7%

1.62

0.6%

0.4%

-20.6%

-20.6%

9.2%

0.9%

4.0x

0.3x

3.1%

25.0%

8.3x

3.1x

2.8%

12.0%

0.5x

1.1%

-2.4%

2.4x

2.7%

1.5%

3.3x

14.35

0.0%

0.4%

-1.0%

-1.0%

18.4%

5.8%

0.89

0.0%

0.4%

-1.1%

-1.1%

-1.3%

-0.3%

75.90

4.5%

0.3%

7.0%

7.0%

17.9%

7.3%

13.20

0.0%

0.2%

-5.0%

-5.0%

-6.2%

-4.1%

10.4%

5.85

6.4%

0.3%

10.4%

6.06

-1.5%

0.3%

28.7%

28.7%

35.5%

4.2%

29.00

0.0%

0.3%

52.6%

52.6%

-17.8%

-9.0%

14.4x

1.2x

4.6x

1.5x

11.6%

0.9x

6.00

0.8%

0.2%

2.6%

2.6%

25.0%

7.8%

3.1x

0.7x

1.05

5.0%

0.2%

-7.1%

-7.1%

20.5%

3.3%

2.9x

0.2x

145.00

0.0%

0.2%

11.5%

11.5%

20.00

0.0%

0.2%

13.5%

13.5%

8.3%

1.1%

7.1%

0.1%

-13.0%

-7.8%

0.0%

21.6% -22.4%

9.2%

32.7% 34.7%

21.9x 8.8x

6.9% -5.2%

0.7x

4.2%

4.6%

2.0%

11.4%

-13.0%

8.4%

0.5%

4.7x

0.4x

6.7%

21.2%

-100.0%

7.4%

0.9%

6.1x

0.6x

4.7%

16.4%

1.3x

3.00

0.0%

0.1%

-18.9%

-18.9%

14.5%

2.6%

62.50

0.0%

0.1%

0.0%

0.0%

-28.7%

-7.6%

52.95

0.0%

0.1%

-4.4%

-4.4%

9.3%

6.4%

3.57

0.0%

0.0%

-0.8%

-0.8%

-10.6%

-5.5%

7.6x

0.2x

77.4%

1.9x

-16.8%

0.7x

2.0%

0.6x

13.1% -22.5%

T o p 10 T r a d e s b y V o lu m e P ric e C hg %

T ic k er

Vo lum e

P ric e C hg %

H ON YF LOUR

1.55

9.9%

GT C O

21.2

3.4%

F ID SON

5.56

9.9%

FB NH

15.7

0.7%

UP L

1.67

9.9%

UC A P

13.7

-1.5%

LIN KA SSUR E

0.65

8.3%

CHA M S

13.2

0.0%

SOVR EN IN S

0.27

8.0%

M B EN EF IT

12.0

-4.5%

WEM A B A N K

0.60

7.1%

WEM A B A N K

10.7

7.1%

NA HCO

2.40

6.7%

Z EN IT H B A N K

9.0

0.0%

PZ

5.85

6.4%

A C C ESS

7.2

1.2%

A IIC O

1.05

5.0%

A IIC O

6.9

5.0%

75.90

4.5%

UB A

5.9

1.4%

P R ESC O

T o p 10 L o s e r s T ic k er

T o p 10 T r a d e s b y V a lu e

P ric e

P ric e C hg %

T ic k er

Value

NP FM CRFB K

1.73

-8.5%

GT C O

629.9

3.4%

UB N

5.35

-7.8%

P R ESC O

289.4

4.5%

P ric e C hg %

M B EN EF IT

0.42

-4.5%

Z EN IT H B A N K

213.3

0.0%

ET ER N A

7.60

-4.4%

N EST LE

206.2

0.0%

D A N GC EM

221.00

-3.9%

M TNN

151.1

-1.2%

FCM B

3.00

-3.2%

FB NH

113.0

0.7%

C A D B UR Y

7.80

-2.5%

D A N GC EM

108.6

-3.9%

UC A P

6.06

-1.5%

T OT A L

105.8

0.0%

M TNN

163.00

-1.2%

UC A P

83.2

-1.5%

29.75

-0.2%

F LOUR M ILL

61.5

-0.2%

F LOUR M ILL

Afrinvest West Africa Limited

41.2x

-8.7%

0.8x

P ric e

ƉŽƐŝƟŽŶ ĂŚĞĂĚ ŽĨ ,ϭ͗ϮϬϮϭ ĐŽƌƉŽƌĂƚĞ ƌĞůĞĂƐĞƐ ĂŶĚ ƚĂŬĞ ĂĚǀĂŶƚĂŐĞ ŽĨ ĐŚĞĂƉ ĂƩƌĂĐƟǀĞ ƐƚŽĐŬƐ͘

1.0x

25.9%

105.50

T o p 10 G a i n e r s

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

13.3%

2.6%

221.00

0.60

;нϭϬ͘ϳйͿ͕ KEK/> (+2.0%) and K E K (+1.0%).

5.8%

-0.2%

34 Julius Berger Nigeria PLC 35 Wema Bank PLC

ƚŽŽŬ ƉŽƐŝƟŽŶ ŝŶ s/d &K D ;нϭϳ͘ϴйͿ͕ ,KEz&>KhZ

0.6x

4.1%

31 Custodian and Allied Insurance 32 AIICO Insurance PLC 33 Total Nigeria PLC

38 Notore Chemical Industries Ltd 39 Beta Glass PLC

Divindend Earnings Yield Yield

3.7%

25 Transnational Corp of Nigeria 26 Presco PLC

ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϲй ĂŶĚ Ϭ͘ϭй ǁͬǁ ƌĞƐƉĞĐƟǀĞůLJ ĂƐ ŝŶǀĞƐƚŽƌƐ

5.3x

P/ BV

-20.4%

0.0%

36 Union Bank of Nigeria PLC 37 Oando PLC

P/ E

0.0%

23 Sterling Bank PLC 24 NASCON Allied Industries PLC

h D Ed (-ϯ͘ϰйͿ͕ > ^ K (-ϴ͘ϳйͿ ĂŶĚ // K (-ϯ͘ϳйͿ͘

ROA

0.0%

20 Ecobank Transnational Inc 21 Dangote Sugar Refinery PLC 22 FCMB Group Plc

29 United Capital PLC 30 Guinness Nigeria PLC

ROE

21.00

17 11 PLC 18 Okomu Oil Palm PLC 19 Fidelity Bank PLC

ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůů-ŽīƐ ŝŶ E' D (-ϯ͘ϵйͿ͕

Price Change Index to Date

1,400.00

14 International Breweries PLC 15 Flour Mills of Nigeria PLC 16 SEPLAT Energy PLC

27 Unilever Nigeria PLC 28 PZ Cussons Nigeria PLC

ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞdž ůĞĚ ŐĂŝŶĞƌƐ͕ ƵƉ Ϭ͘ϵй ǁͬǁ ŽŶ

Price Previous Change Current Price YTD Weighting Change

Current Price

Investment Research

Brokerage

Asset Management

Adedoyin Allen | aallen@afrinvest.com

Rombert Omotunde | romotunde@afrinvest.com Abiodun Keripe |akeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Benedict Egwuchukwu | begwuchukwu@afrinvest.com

39

MONDAY, JUNE 28, 2021 ˾ T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 24Jun-2021, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 153.28 154.80 -5.25% Afrinvest Plutus Fund 100.00 100.00 4.42% Nigeria International Debt Fund 314.62 314.62 -23.78% Afrinvest Dollar Fund 111.43 111.43 -0.60% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund N/A N/A N/A ACAP Income Funds N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 6.35% AIICO Balanced Fund 3.21 3.37 -5.60% info@anchoriaam.com ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 3.17% Anchoria Equity Fund 131.63 133.07 -1.04% Anchoria Fixed Income Fund 1.08 1.08 -19.04% 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 18.98 19.56 4.68% ARM Discovery Balanced Fund N/A N/A N/A ARM Ethical Fund 37.73 38.86 11.91% ARM Eurobond Fund ($) 1.08 1.09 -1.51% ARM Fixed Income Fund 0.96 0.96 -8.58% ARM Money Market Fund 1.00 1.00 5.20% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 104.80 104.80 3.04% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com ; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 1.95 1.95 -19.49% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.04 2.08 -17.87% mutualfunds@cardinalstone.com CARDINALSTONE ASSET MANAGEMENT LIMITED Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 5.92% Cordros Milestone Fund 2023 116.69 117.46 Cordros Milestone Fund 2028 N/A N/A Cordros Dollar Fund ($) 106.92 106.92 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 4.04% Coronation Balanced Fund 1.17 1.19 -2.19% Coronation Fixed Income Fund 1.36 1.36 -13.90% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 3.05% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 2.97% EDC Nigeria Fixed Income Fund 1,167.25 1,176.80 -2.45% 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 1,379.18 1,379.18 9.43% FBN Balanced Fund 187.16 188.45 -0.27% FBN Halal Fund 110.32 110.32 8.70% FBN Money Market Fund 100.00 100.00 8.87% FBN Nigeria Eurobond (USD) Fund - Retail 125.67 125.67 3.45% FBN Smart Beta Equity Fund 154.39 156.49 2.12% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 3.93% Legacy Debt Fund 3.95 3.95 2.11% Legacy Equity Fund 1.55 1.58 1.74% Legacy USD Bond Fund 1.18 1.18 3.45% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Balanced Fund 3,628.87 3,679.17 -3.09% Coral Income Fund 3,358.16 3,358.16 2.50% Coral Money Market Fund

100.00

100.00

5.57%

GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund N/A N/A N/A Nigeria Entertainment Fund N/A N/A N/A GROWTH & DEVELOPMENT ASSET MANAGEMENT LIMITED assetmanagement@gdl.com.ng Web: www.gdl.com.ng ; Tel: +234 9055691122 Fund Name Bid Price Offer Price Yield / T-Rtn GDL Money Market Fund N/A N/A N/A INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 7.11% Vantage Balanced Fund 2.85 2.91 24.20% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 150.09 150.54 -3.42% Vantage Equity Income Fund (VEIF) - June Year End 1.24 1.28 31.25% Vantage Dollar Fund (VDF) - June Year End 1.09 1.09 6.55% 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 1.39 1.41 2.08% Lotus Halal Fixed Income Fund 1,147.96 1,147.96 3.91% 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 11.01 11.05 5.09% Meristem Money Market Fund 10.00 10.00 6.62% 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 1.64 1.66 7.26% PACAM Fixed Income Fund 11.47 11.51 -5.51% PACAM Money Market Fund 10.00 10.00 4.34% PACAM Equity Fund 1.62 1.63 2.45% PACAM EuroBond Fund 111.22 112.91 1.19% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 126.68 126.34 5.69% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.01 1.01 3.41% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,170.05 3,195.88 -1.42% Stanbic IBTC Bond Fund 230.68 230.68 2.59% Stanbic IBTC Ethical Fund 1.19 1.20 1.27% Stanbic IBTC Guaranteed Investment Fund 302.78 302.78 2.76% Stanbic IBTC Iman Fund 219.29 222.01 0.35% Stanbic IBTC Money Market Fund 100.00 100.00 7.62% Stanbic IBTC Nigerian Equity Fund 10,320.52 10,449.41 -1.74% Stanbic IBTC Dollar Fund (USD) 1.26 1.26 2.66% Stanbic IBTC Shariah Fixed Income Fund 114.51 114.51 3.09% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 101.74 101.74 UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.36 1.38 -0.18% United Capital Bond Fund 1.95 1.95 3.17% United Capital Equity Fund 0.93 0.94 6.54% United Capital Money Market Fund 1.00 1.00 8.32% United Capital Eurobond Fund 121.22 121.22 3.53% United Capital Wealth for Women Fund 1.11 1.13 2.40% United capital Sukuk Fund 1.05 1.05 5.36% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.68 12.79 6.82% Zenith Ethical Fund 14.00 14.12 14.59% Zenith Income Fund 24.12 24.12 0.62% Zenith Money Market Fund 1.00 1.00 6.03%

REITS NAV Per Share

Yield / T-Rtn

124.09 51.54

2.77% -1.64%

Bid Price

Offer Price

Yield / T-Rtn

12.88 123.35 98.22 17.32 17.57

12.98 125.90 99.99 17.42 17.67

-2.51% 2.37% -1.19% -

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.74 5.67 17.10 1.00 19.14 148.79

3.78 5.75 17.20 1.00 19.34 150.79

-0.73% -0.38% 5.45% 4.16% -6.69% -31.96%

NAV Per Share

Yield / T-Rtn

107.52

13.11%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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IMAGES

L-R: Head of Corporate Affairs, Rendeavour Developers of Alaro City, Babatunde Olaifa; Assistant Comptroller-General of Customs, Modupe Aremu; MD of NEPZA, Prof. Adesoji Adesugba and Chairman of the Senate Committee on Trade and Investment, Senator Francis Fadahunsi, during a tour of Alaro City in the Lekki Free Zone, Lekki... recently

T H I S D AY ˾ ͰͶ˜ ͰͮͰͯ

Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Controller General of Federal Fire Service, Dr Ibrahim Liman, Director Genera,l National Emergency Management Agency(NEMA), Alhaji Mustapha Ahmed and Special Assistant to the Minister of Interior, Mr Deji Sule-Odu, during the visit of the Controller General to NEMA headquarters in Abuja…recently

L-R; Executive. Secretary, Nigeria Gas Association, Taji Ogbe; Secretary. General, Engr. Chichi Emenike; Minister of State for Petroleum Resources, Timipre Sylva; President, Nigeria Gas Associatin, Ed Ubong and Deputy Secretary. General, Emeka Iheme during the consultative visit by the association to the minister on the decade of gas n Abuja…recently

L-R: National Commissioners, Dr Adekunle Ogunmola; Prof Okechkwu Ibeano; Mrs May Agbamuche-Mbu; INEC Chairman, Prof Mahmood Yakubu; National Commissionaer, Barr Festus Okoye and Ahmed Muazu at a press briefing and the unveiling of the INEC voter enrollment device (IVED) in Abuja…recently PHOTO: JULIUS ATOI

L-R: Minister of Trade, Industry and Investment, Niyi Adebayo; Minister of State Trade Industry and Investmet Hajia Maryam Katagum; Executive Directorand CEO of the Nigerian Export Promotion Council, Olusegun Awolowo and Group Head, Emerging Business, Access Bank, Ayodele Olojode at the Maiden National MSME discourse held in Abuja…recently PHOTO: JULIUS ATOI

L-R: Secretary-General, Nigerian Youth Congress(NYC), Dr. Raymond Edoh; Vice Chairman, Ifako-Ijaiye Local Government and APC Chairmanship Candidate, Prince Usman Akanbi Hamzat; and National President, Nigerian Youth Congress(NYC), Blessing Akinlosotu, during the presentation an award of National Distinguished Award of Excellence of Excellence to Hamzat by NYC at the National Democratic Day Lecture and Institutional honours in Abuja...recently

Chemistry Teacher, Pegasus Schools, Akwa-Ibom, Mr Kingsley Okon; Principal, Mrs Monica Lewis; Mother of; 1st Runner Up, Mrs. Eshiet Taofiq, 1st Runner Up of PZ Cussons Chemistry Challenge 2020, Aishat Taofiq Idara; Her Father, Barrister Mustapha Taofiq, and, Area Sales Manager, PZ Cussons Family Care, Mr Timileyin Oyebamiji during the reward ceremony of the PZCCC 2020 1st Runner up in Akwa-Ibom…recently

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L-R: Commissioner for International Development Cooperation in Cross River, Dr Inyang Asibong and Commissioner for Justice, Mr Tanko Ashang during the domestication of the state COVID-19 Action Recovery and Economic Stimulus in Calabar...recently

L-R: Parish Priest, SS Peter and Paul Parish Nyanya, Rev Fr. FrancisKale and Bishop of Abuja Catholic Archdiocese, Most Rev Dr IgnatiusKaigama, during the dedication of  SS Peterand Paul Parish Church Building Nyanya by the Bishop in Abuja...recently

L-R: Mrs Busola Olamuyiwa; Otunba Bobaselu of Iruland, Chief Olaotan Olamuyiwa;Bobaselu of Iruland, Chief Adeyemi Adeshina; and Wife, Mrs Linda Adeshina, at the conferment of honorary chieftaincy titles to Olamuyiwa and Adesina in commemoration of the first coronation anniversary of His Royal Majesty, Oba Abdulwasiu Omogbolahan Lawal, Abisogun II, The Oniru of Iru Land in Lagos...recently

L-R: Former Governor of Edo State and Deputy Chancellor of Igbinedion University, Chief Lucky Igbinedion;and Edo State Governor, Mr. Godwin Obaseki, during the launch of the Independent Task Team of the Coalition for Dialogue on Africa (CoDA) on equitable and universal access to vaccines and vaccination in Africa, held in Okada, Ovia North East Local Government Area of Edo State...recently

L-R: Nosa Osifo, Esq; Ken Mozia, SAN; outgoing Chief Judge of Edo State, Hon. Justice Esther Edigin; Nosa Edo-Osagie, Esq and spouse to His Lordship, Martins Edigin, during the valedictory court session in honour of His Lordship Hon. Justice Esther Edigin in Benin City...recently

L-R: Minister of Information and Culture, Alhaji Lai Mohammed; Jigawa State Governor, Alhaji Mohammed Badaru Abubakar; and Chairman of Malam Alu Agro Allied Company Limited, Alhaji Farouk Adamu Aliyu; during Federal Government delegation inspection of the Fertilizer Blending Plant at the Malam Alu Agro Allied Company Limited in Birnin Kudu, Jigawa State...recently

L-R: Chairman, Medical and Dental Council of Nigeria, Prof Abba Waziri; Ekiti State Governor, Dr. Kayode Fayemi: and Founder, Afe Babalola University, Ado-Ekiti (ABUAD), Aare Afe Babalola (SAN); during the commissioning of the University’s Independent Power Plant (IPP) project and foundation laying of nine other projects at the University Campus, in Ado Ekiti...recently

L-R: Chief Executive Officer, Allevents.ng, Kenneth Fagbe; Publisher, Black Celebrity Magazine, Tunde Biletiri; music artiste, Nweke Joy a.k.a Supernova; and a comedian, Daniel Eromosele (Pikolo), during a press conference on the launch of Supernova Live Concert, in Lagos recently PHOTO: ETOP UKUTT

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MONDAY, ͺ΀˜ ͺ͸ͺ͹ ˾ THISDAY

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NEWS

Sylva: Gas Flaring No Longer Major Problem in N’Delta Says Dangote refinery won’t break even in subsidy regime Emmanuel Addeh in Abuja with agency report Minister of State, Petroleum Resources, Mr Timipre Sylva, yesterday said the gas flaring challenge, which in the past had pitted communities in the Niger Delta against oil companies and government, was no longer a major problem.

Speaking at a forum organised by the News Agency of Nigeria (NAN), in Abuja, Sylva stated that the flaring of gas has now decreased to about eight per cent, noting that the ongoing construction of the AjaokutaKaduna-Kano (AKK) gas pipeline, would eventually eliminate the menace.

Sylva added that the Dangote Refinery will not break even under a subsidy regime.

The minister stated that

over the years, about 92 per cent of the gas flares had been taken down and converted to a usable form, stressing that the gas that currently goes into the Nigeria LNG and the power plants, were previously flared.

He said: “Gas flaring is no longer a problem in the Niger Delta. Eight per cent of gas being flared cannot be the problem. If I don’t know what to do with my gas; that is when I flare, but if I can monetise my gas, why should I burn it when I can make money out of it.

“In fact, it is in my interest not to burn my gas because it now has value. The problem with gas before was that it had no value because nobody was buying it. But now, if I can monetise it, I will be guarding it so that I can get some benefits from it.”

According to him, the

federal government’s plan is to take the AKK pipeline from Kano to Algeria and then to Europe, describing it as a very important piece of infrastructure.

He also said when completed, the gas pipeline would serve as a development backbone along the southern-northern corridors of the country, so that all Nigerians will have access to gas anywhere in the country.

Sylva stated that the federal government is investing heavily in the gas expansion programme because it has realised that the country has abundant gas resources which must be fully tapped.

On deregulation, Sylva said there was a need to liberalise the downstream sector through market-driven pricing of products to boost

the economy, adding that the view that if the refineries are working, importation of products will stop, was neither here nor there.

He explained: “Part of the reasons why the refineries were not working is subsidy because a refinery that is producing something at a certain cost and selling at a loss, how can it sustain itself?

“If you are producing something and they are selling at a certain subsidised price, it cannot work and that is why you see that the sector is not growing at all.”

According to Sylva, even if the Dangote refinery begins operation in a subsidised environment like it currently obtains, it will still have problems.

“If he (Dangote) sells within Nigeria in this subsidised environment, he

will not break even. So, that is the way it is and we must look at it because I know that a lot of Nigerians think that we must carry on like this.

But in the end, I think it is better for us to deregulate,” he argued.

He stated that it is in the interest of Nigerians to ensure that some people do not just profiteer on them, which is what has been happening, saying that people were making billions on the same subsidies years ago.

“And when you say you want to take it out, the common man is the one on the street but at the end of the day is it the common man that is benefitting? I don’t think they are the biggest beneficiaries,’’ he said.

On product smuggling, the minister noted that a lot had been achieved in the industry but that the

activities of smugglers had continued to overshadow the successes.

He stated that the use of a tracking device to track every truck loading petroleum products from any of its depots as part of efforts to nip smuggling in the bud and arrest culprits was being deployed.

“We have been able to put a tracking system to track the trucks that load from the depots, so that we are sure that when they load products from the depots, they take it straight to the filling stations.

“When you say that Nigerians are consuming 60 million litres, and you look at the number of cars on the Nigerian roads, you will know that those 60 million litres cannot be possibly consumed in Nigeria,” he said.

a new official car and utilityvehicle every four years. This is in addition to one personal aide, adequate security, a cook, chauffeurs and security guards at a sum not exceeding N5m per month. The governor and spouse are also entitled to

free medical services for a sum totalling N100m per annum, as well as a fivebedroom mansion in Abuja and Akwa Ibom. Gombe State offers a N300 million executive pension benefits to its ex-governors. Kwara State gives 300 per cent of his salary as furniture allowance, to its former governors. This is in addition to two cars and a security car replaceable every three years, a well-furnished five-bedroom duplex, five personal staff, three State Security Services personnel, free medical care among other humongous figures. Edo State is no better, under its Pension Rights of the Governor and Deputy Governor Law of 2007, which gives a former governor a 200 million naira house plus 100% of the salary of the incumbent governor for life. He is also entitled to an officer not above Salary grade level 12 as Special Assistant, a personal secretary not below grade level 10 who shall be selected by the former governor from the public service of Edo State.

Osun State law stipulates that former governors and former deputy governors shall be entitled to pension at the rate equivalent to the incumbent office holder. Lagos State, under its Lagos Pension Law, gives a former governor two houses (one in Lagos and another in Abuja), estimated

to cost between N500m and N700m, respectively. This is in addition to six brand new cars every three years, furniture allowance of 300 percent of annual salary every two years, among other frills. Rivers offers 100% per cent of annual basic salaries for ex-governor, one house anywhere of his choice in Nigeria, three cars every four years, 300 per cent of annual basic salary every four years for furniture and ten percent of annual basic salary for house maintenance, among other frills.” That is not all.

“Kano State provides for 100% of annual basic salary for a former governor, a furnished and equipped office, a sixbedroom residential house, free medical treatment within and outside Nigeria where necessary, two drivers and a provision for a 30-day vacation within and outside Nigeria.”

Yes, not much will change for the better in Nigeria; until after the season of locusts.

But it is not just an APC matter. Leaders who have their post-service entitlements fully provided for by the Revenue Mobilization and Fiscal Allocations Commission, but who act in clear violation of these provisions are also locusts of s certain species.

Do they know that their season is heading towards its evening?

participants because just last week while hosting a delegation of the FCT Council of the Scout Association of Nigeria in his office, he spoke very strongly about the urgent need to resuscitate the various youth clubs and associations which formed the building blocks of societal values and ideals in the past such as the Boys Scout Movement, the Girl Guides and the Boys’ Brigade.

He told the delegation: “I am particularly enthused to have you here today because you represent a critical building

block of society, a block that builds values and morality for young men and women that society seems to have left behind. The block has to be repositioned very urgently as a cornerstone of rebuilding of our nation, as a nation, not only of a high human resource capacity but of a human resource that has the highest value and morality.

Urging the association to work with other affiliates like the Girl Guides and the Boys Brigade, among others, Fashola said that such collaboration

was necessary in order to give young people the choice to join noble, moral clubs to expend their energy, to build their optimism and dream great dreams, adding that if those clubs were not available, they would be recruited by other clubs with less noble intentions.

For Fashola, finding practical ways to restore positive values among Nigerians would be the best 58th birthday gift. t#FMMP JT 4QFDJBM "EWJTFS $PNNVOJDBUJPOT UP UIF )PO .JOJTUFS

UNTIL AFTER THE SEASON OF LOCUSTS APC government, let us remember that a letter from former governor Yari of Zamfara State to his successor demanding the payment of certain entitlements came from the “Office of the Former Governor.” My questions concerning the above were: Is there such an “office”? If yes, who created it? Where is it provided for in the constitution? Who can educate us on whether it is an elective, appointive, or presumptive one? Where can we get a manual on the duties of the occupant of this imaginary office? Who will explain what makes it lawful for a citizen to arrogate to himself a title that presumes to represent a state function? What makes it proper for anyone to put the national Coat of Arms on paper, any paper whatsoever, and use same as the crest for his private correspondence?

Should anyone, using such a contrived persona, and who presents himself as having the authority of one who represents an institution of state, not be apprehended?

Should an otherwise responsible adult who prints a letter headed paper using our national symbols and who presents himself in the guise of a government functionary after he has left office not be called to order by the security agencies?”

As symptomatic of a

national malaise gone viral with the ruling elite of the last 20 years, Yari’s letter was “…an attempt by a private citizen to secure personal advantages for himself under false pretenses.” It was even signed “in the usual ink colour used by Nigerian government functionaries of a certain stature. … the former governor had no doubts in his mind that he was within his rights. So, unfortunately, are many other former governors who collect unmentionable entitlements. Yari was angry that the state had not paid him his pension and monthly upkeep allowances, because he removed himself from the realities of his environment.

That this unlawful entitlement should be his priority, requiring an angry letter, in a state where he left no commendable legacies and where he did not perform any miracles in the payment of the paltry entitlements of pensioners while he was in office says a lot” The article under reference here went further to point out that “…this is not a Zamfara matter, as a quick inventory of the record of other state governments in this regard shows that this is a national malaise. Jigawa lawmakers had justified their own law on the grounds that granting huge severance packages to former office holders was a

Chairman of NGF, Kayode Fayemi way of discouraging them form corrupt self-enrichment while in office. Pathetic!

Akwa Ibom State under former Governor Akpabio provided for an annual pay to ex-governors of N200 million, in addition to pension for life,

BRF AT 58: A RETURN TO THE MIND’S INFRASTRUCTURE law and order have a human face and could be imbibed as societal norm through the crosspollination of education and enlightenment, in addition to effective law enforcement and a transparent justice system.

This means that both those who enforce law and order and the populace among whom they are enforced must come to a clear understanding and agreement as to their necessity in the growth and development of the society.

In 2017, Fashola told the executives of The Guardian

Newspapers in an interview.

“When failures happen in developed societies, they call them scandals. When the parliamentarians in the United Kingdom were found stealing funds and all that, they called it ‘Political Expenses Scandal’. When Lionel Messi was involved in tax evasion, they called it Tax Evasion Scandal. The reason is that they have focused so much on law and order that non-compliance is the exception. Society is (definitely) scandalised by non-compliance.”

With hope, this 5th edition of BRF Gabfest will come up with ideas and workable solutions on how to build the infrastructure of the minds of motorists and other road users.

Fatalities on our Roads have to be an exception not the Rule.

It is obvious that BRF is scandalized by every single life that is lost to road crashes.

GABFEST 5 is a call for action to end it.

Somehow, BRF himself may have thrown up one consideration for the Gabfest

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MONDAY JUNE 28, 2021 ˾ T H I S D AY

NEWSXTRA

Speakers Demand State Police, Community Policing Speakers of state legislatures of Nigeria, weekend, called on major stakeholders to use the instrumentality of the ongoing Review of the Constitution of the Federal Republic of Nigeria to accommodate community policing and state police in the country to effectively tackle the challenges of insecurity bedevilling the country.

The Speakers in a communique issued at the end of their secondquarter meeting held in Asaba, the Delta State capital, which was signed by the National Chairman and Speaker of Bauchi State House of Assembly, Mr. Abubarkar Suleiman, decried the spate of insecurity in the country.

The communique read: “The Conference commends and appreciates the efforts of the Executive Governor of Delta State, Senator Ifeanyi Okowa and the Speaker, Delta State House of

Assembly, Chief Sheriff Oborevwori for hosting this meeting to discuss a wide range of issues affecting the nation.

“The conference, again, decries the spate of insecurity in the country; and while commending the federal government on its efforts at fighting the insecurity in the country, the conference calls on the major stakeholders to use the instrumentality of the ongoing review of the constitution of the Federal Republic of Nigeria to accommodate Community Policing and State Police in the country to effectively tackle the insecurity bedevilling the country.

“The Conference commends the Governors that have commenced the implementation of the financial autonomy in their states while urging the other state governors to follow suite as agreed in the Memorandum of Action signed

by all the Stakeholders.

“The Conference also calls on all the State Houses of Assembly to pass Funds Management Bill for Assent of the Governors within the 45 days window as agreed to by all the Stakeholders.”

Meanwhile, Governor Okowa has called for dialogue on how to ensure fairness and equity in the governance of the country.

He said the country was facing

serious challenges that required leaders to preach hope to the people and ensure that the unity of the nation was not breached Okowa who spoke at a state banquet in honour of members of the Speakers of State Legislatures, told Nigerians not to compromise the country’s unity, adding that its strength lies in citizens’ collective bond.

He said; “there is need for

leaders to give hope to the people because if the leaders begin to lose hope in the nation, the followers will be in trouble”, adding that “at critical times as is currently prevailing in the country, people in sensitive positions, including Speakers of legislatures, are required to truly help to build the nation.

“In very trying times such as this, we must ensure that we

continue to give hope to our people and that we continue to do the very little that we can even in our various constituencies because a little hope can encourage those who would have felt helpless.

“There are so many things that ought to be discussed, but we are not discussing yet; there is a need for a true dialogue even when people tend to misconstrue it when we speak about dialogue.

Gbajabiamila: Social Media Must be Regulated to Protect National Interest Says electoral act to be passed in July Udora Orizu in Abuja The Speaker of the House of Representatives, Hon. Femi Gbajabiamila yesterday said that social media must be regulated to protect national interests.

This was as he promised that the amendment to Electoral Act will be passed by the lawmakers before its summer break in July.

The Speaker, who spoke on live TV programme, during a chat with Young Nigerians, monitored

by THISDAY, hinged his assertion on the belief that everything in life has to be regulated.

Gbajabiamila said, “The social media is the most potent weapon for good and for evil.

While we welcome the good, we must prepare over the evil. You cannot use the idea of free speech to destroy me. Most democracies in the world today are making efforts to regulate the social media and the National Assembly has been considering regulating the social media for long. But each time the issue comes up, Nigerians kick against it. It is something we need to do because we have a responsibility to protect every single citizen in this country and that is what we must do.”

He however said the House

was yet to take any position on the suspension of micro blogging platform, Twitter by the federal government.

The Speaker while stressing that the lawmakers need to hear from all sides in the matter before arriving at a position, assured that whatever position the National Assembly takes would be in the overall interest of the Nigerian people.

“We are elected by the people to represent them and ordinarily, we should be on their side. But this is not a beauty contest.

You must listen to all sides.

Government says Twitter poses threat to national security. What are the information available to them that we are not privy to? They have also said that it is not about the President’s tweet which was taken down but a mere coincidence. We are listening to government because we have heard from the people.

“We agree that there is freedom of speech but the government is saying that freedom is not absolute.

Even at that, the freedom can be protected but not at instance of the country. I am happy that twitter and government are already talking.

At the end, I hope that the issue will be resolved in the best way possible.”

We are Poorer with IPPIS, Says SSANU The Senior Staff Association of Nigerian Universities (SSANU) has lamented the introduction of the Integrated Payroll and Personnel Information System (IPPIS) by the federal government has mutilated their salaries and made them poorer.

SSANU National President, Mohammed Ibrahim, stated this at the maiden North-east Zonal Executive meeting and workshop with the theme: “Team building for effective service delivery and strategic position for influencing the influencer” at the Abubakar Tafawa Balewa University, Bauchi over the weekend.

He said: “The major crux is that our 2009 agreement, that somersaulted agreement, that agreement that was not done with some levels of preparedness has given us so much problems

as members of SSANU. “Our members are suffering, our members are relegated in terms of welfare but we are not deterred although we have not arrived, we are still in the process.

“Individually at our different levels in our universities, some of us as branch leaders, we were able to convince our councils, our managements to understand that hazard is a hazard. Everybody is facing hazards in Nigeria, members of SSANU are facing hazards.

“We have convinced our councils and managements that we have started benefitting from this (hazard) allowances and then the almighty IPPIS came, and we crash-landed. Our salaries have been mutilated, our salaries have been fractured and today, we are poorer.”

STILL ON COVID-19…

L-R: Lagos State Commissioner for Health, Prof. Akin Abayomi; Member, Presidential Steering Committee on COVID-19, Dr. Mukhtar Muhammed; President, West African Private Healthcare Federation, Ms. Clare Omatseye; and Divisional Head, Health & Education Sectors, Sterling Bank, Mr. Obinna Ukachukwu, at a Sterling Bank COVID-19 Vaccination Workshop in Lagos…weekend

CJN Swears in 18 A’Court Justices Today E Alex Enumah in Abuja The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad will today swear-in 18 newly appointed Justices of the Court of Appeal.

The swearing in is coming few days after a Federal High Court in Abuja, had dismissed a suit by an Igbo sociocultural group seeking to stop the appointment on claims of being biased towards the South-east geopolitical zone.

The notice of swearing in was contained in a letter of invite to

the Chief Judge of the High Court of the Federal Capital Territory (FCT) Abuja, Justice Salisu Garba.

Part of the letter signed by the Chief Registrar of the Supreme Court, Mrs. Hadizatu Mustapha, reads, “the CJN invites your lordship to the swearing in ceremony of the following Justices of the Court of Appeal, Abuja on Monday, June 28, 2021 by 10am at the Main Court Room of the Supreme Court of Nigeria”.

The swearing in ceremony was also confirmed by media aide

to the CJN, Mr. Ahuraka Isah.

Among the new Justices are; Mohammed Danjuma (Niger State), Muhammad Sirajo (Plateau), Abdul-Azeez Waziri (Adamawa), Yusuf Bashir (Taraba), Usman Musale (Yobe), Ibrahim Jauro (Yobe), Abba Mohammed (Kano State), Bature Gafai (Katsina) and Danlami Senchi (Kebbi) Others include; Mohammed Abubakar (Sokoto),Hassan Sule (Zamfara), Kenneth Amadi (Imo), Peter Affen (Bayelsa), Sybil Gbagi (Delta), Olasunbo Goodluck

(Lagos), Adebukola Banjoko (Ogun), Olabode Adegbehingbe (Ondo) and Bola Ademola (Ondo).

The appointees according to earlier statement by the Information Director of the National Judicial Council (NJC), Mr. Soji Oye, had emerged successful at the interview committee of the NJC. Consequently, their names were then forwarded to the president for approval for appointment as justices of the appellate court.

Fuel Scarcity Looms as IPMAN Threatens to Shut down Filling Stations The Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened to shut down all filling stations across the country.

IPMAN warned that it might also cut down supplies from tomorrow should the federal government and Inspector General of Police fail to address alleged illegalities perpetrated by the Police Force.

National Public Relations Officer (PRO) of IPMAN, Mr. Yakubu Suleiman, said these yesterday in a chat with reporters in Jos.

Some police officers were alleged to have invaded IPMAN National Secretariat last Friday for some unstated reasons.

Suleiman described the invasion as an illegal clampdown over alleged sponsorship by some impostors parading themselves as executives of IPMAN. He said aggrieved members and officials at State, zonal and depot levels have met and resolved to shut down filling stations over the incident.

“Whereas there is subsisting Supreme Court judgment of

December 2018, that have since disposed of a suit No. SC15/2015, and ordered that Mr. Chinedu Okoronkwo, is our President and Alhaji Danladi Garba Pasali, as National secretary.

“The continued violation of this judgment, even by the police is causing more harm to the downstream sector of the petroleum industry, which if such is not halted will lead to impunity and anarchy,” he said.

He frowned at the police siege on their Secretariat, adding similar incident led to the closure of Suleja

depot last week.

He claimed the Suleja incident would have truncated supplies to Abuja and northern states if not for the National Secretariat’s intervention.

“It is true that members of IPMAN in many states across sections of Nigeria, have met and others are meeting and communicating to us that they will shut down, from Tuesday.

“The implications would be there will be a shortage or fuel scarcity in the country,” he said.

APC to Begin Sale of Forms for Congresses July 1 Adedayo Akinwale in Abuja The National Caretaker/ Extraordinary Convention Planning Committee of the All Progressives Congress (APC) has announced that the sale of forms for the ward, local and state congresses would begin on July 1, 2021 to elect party officials.

The party’s Director of Organisation, Prof. Al-Mustapha Medaner, disclosed this in a statement issued yesterday in Abuja.

He said the purchase of forms for Ward Congresses would start

on July 1 and ends on July 7, 2021, while the inauguration of Ward/LGA congresses’ screening /screening appeals’ committee is slated for July 10, 2021.

Medaner added that the screening of aspirants for the Ward party positions would take place between July 12, and July 16, 2021, while the inauguration of Ward/LGACongresses /Congresses appeals committee is slated for July 19, 2021.

He said Ward Congresses would take place on July 24, 2021, while appeals arising from Ward Congresses would take place

between July 26 and 29, 2021.

Medaner noted that the purchase of forms for the LGA party positions is scheduled to hold between July 26 and 30, 2021, while the screening of aspirants to LGA party positions would hold between July 19 and 26, 2021.

He said the LGA Congresses, including three-man delegates to National Convention would hold on August 14, 2021, while appeals arising from LGA Congresses between August 16 and 20, 2021.

Medaner noted that the purchase of forms for State Exco would take place between August 23 and 27,

2021, while inauguration of screening /screening appeals Committee for State Exco would take place on August 30, 2021.

The party said the screening of aspirants for State Exco would take place between September 6 and 8, 202, while appeals arising from screening for State Exco would hold between September 12 and 15, 2021.

The ruling party added that State Congresses would hold on 18th September, 2021, while appeals arising from State Congresses would take place between September 19 and 21, 2021.

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Obasanjo Warns against Population Explosion in Nigeria Kayode Fasua in Abeokuta Former President Olusegun Obasanjo at the weekend cautioned against population explosion in the country, while stressing the need for proper population management.

Speaking in Abeokuta, the Ogun State capital during a mentoring session with students

of some selected schools across the country, Obasanjo raised the alarm that Nigeria’s population was becoming a liability due to its improper management.

He said unless something urgent was done, Nigeria might be declared the third-largest country in 2050.

The mentoring session with students was tagged “Raising the

next wave of innovative leaders through entrepreneurship.”

Obasanjo called for population management in the face of the geometric population explosion without a corresponding socioeconomic development, a situation which he said has slowed down national development.

Obasanjo, while fielding questions from the students on

Man Beats Wife to Death over N2, 000 in Edo Adibe Emenyonu in Benin-city A 45-year-old man simply identified as Mr. Christopher last Saturday night allegedly beat his wife to death over the sum of N2,000.

The incident, it was gathered, happened at 1 Agbontaen Street, beside Ebvareke Secondary School in Uselu, Benin-city.

The man was said to have pounced on his wife, Mrs. Isoken Christopher, following her failure to give him the N2,000 loan he requested from her.

The eldest child of the deceased woman, Augustine, noted that his mother was hale and hearty before the sad incident.

The 13-year-old Augustine explained that his father, who is a menial worker with a waste manager firm in Benin-city, always beat his mother at the slightest provocation.

According to him, the event that led to his mother’s death started with a phone call from his father to his mother where he requested for N2,000.

“Following the call, my father

came home at about 9p.m. and started beating her and accused her of always embarrassing him each time he requested for money.

“After the beating, I was trying to give my mother Paracetamol and water which she asked for when my father took the water and drug from me and threw them away.

“My father locked us (children) inside the room and went out to pounce on my mother where she was lying down outside, already weak from the initial beating.

mentorship, highlighted service to fatherland, integrity, loyalty and good moral standing as some of the virtues that could sustain them in their chosen careers in life.

Speaking on the state of the nation, the former president expressed worry over the management of the population of the country.

“When COVID-19 struck, I

decided to take the vaccine. I was worried that it would be like Ebola; thank God it has not been as devastating as Ebola.

“We have moved from 120 million to over 200 million. We have added the population of France to our population and if we continue the way we are going, by the year 2050, we will be the third-largest country in the

world.

“If we still continue, by the year 3000, we would be the largest country in the world.

“What are we going to do to handle that, how are we going to handle that population? If we do not start getting it right now, we will not get it right by the year 2030.”

Nigeria Can Never Split, Says Kogi Gov Kogi State Governor, Mr. Yahaya Bello, has restated his faith and commitment to the unity of Nigeria, saying the country can never disintegrate.

Bello said this at the Abia Government House, Umuahia when he paid a courtesy call on Governor Okezie Ikpeazu.

Bello, who was in Umuahia, the Abia State capital, for a burial ceremony of the mother of one of his friends, Chief Emenike Ugochi, paid a courtesy call on his colleague in the spirit of brotherliness.

“I have always maintained this position that Nigeria can never divide; we can have differences, skirmishes here and there which by the grace of God, we shall overcome them and Nigeria will remain together,” he said.

He commended Governor Ikpeazu for the warm reception offered him and his entourage, saying the Abia governor has been a very good friend.

According to Bello, Ikpeazu was the first Governor that called

directly to congratulate him when he was first sworn-in as governor in January 2016.

He said even though, he is not of the same party, region and faith with Governor Ikpeazu, they have continued to enjoy mutual friendship and cordiality over the years, saying, that should be the right spirit all Nigerians must imbibe.

According to the Governor, he also enjoys cordial and mutual relationship with all his counterparts in the South East.

Relocation of Ibom Deep Sea Port Not Political, Says Consultant The Felak Concepts Limited (FCL) has declared that relocation of the Ibom Deep Sea Port (IDSP) from Okposo to Ibeno was not political but based on professional and engineering decisions.

A statement that was issued by the Spokesperson to the FCL, Mr. Ezekail Adamu, explained that the essence of the project that was initiated by the Federal Ministry of Transport and Akwa Ibom State Government as a

full scale Greenfield Commercial Deep Sea Port Development in line with the proposed Ibom Industrial City (IIC) was too strategic to be subjected to politics.

Adamu stated that the

selection process was subjected to high level transparency as evidenced in all the technical reports submitted.

He said: “We did not influence or manipulate the relocation of the ports from Okposo to Ibeno.

“The relocation of the $4.6 billion Ibom Deep Sea Port (IDSP) from Okposo to Ibeno is not political but based on professional and engineering decisions, says Felak Concepts Ltd, the Transaction Advisor/

Consultants to the IDSP and Free Trade Zone project.”

He further explained that five locations were initially shortlisted for the mega-project expected to provide no fewer than 300,000 jobs.

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MONDAY JUNE 28, 2021, ˾ T H I S D AY

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Family of Murdered Super TV CEO Wants Police to Go Beyond Arrest of Suspect The family of the late Super TV boss, Mr. Usifo Ataga has appealed to the Police to go beyond the arrest of his suspected murderer by conducting in-depth investigation to get to the bottom of the case.

The appeal is contained in a statement issued yesterday in Abuja by Olusegun Jolaawo, a Senior Advocate of Nigeria (SAN), on behalf of the law firm, Rickey Tarfa & Co, solicitor for the family yesterday in Abuja.

In the statement, the senior lawyer urged those behind malicious social media publications to refrain from publishing falsehood that impinges negatively

on the integrity of the deceased, his wife and children or face lawsuits.

He also urged Nigerians to allow the Police to conduct its investigations without any distraction or interference.

“We know that suspect (name withheld) has been arrested and we know that investigation is continuing.

“Our client is, however, convinced that there is much more to this than is already apparent from the Police investigation.

“It has become apparent that from the variety and inherent malice in most of the media publications, they are planted

to embarrass and malign Usifo Ataga, Brenda Ataga and the family,’’ the statement read in part.

The SAN also alleged that the publications served as a smokescreen to enable the perpetrators of the heinous crime

cover their tracks.

“Our client appreciates the efforts of the law enforcement agencies in their investigations thus far and will not descend into particulars with respect to any of the said false narratives

so as not to inadvertently aid the perpetrators of the murder in covering their tracks.’’

The senior lawyer lamented that the tragic incident of the cold-blooded murder of the late Ataga had inundated all strata

of the media with inconceivable stories being peddled on all sorts of platforms about the incident and, therefore, called for restraints from the publishers of the unfounded stories.

Agbeyangi to Be Inducted as 61st President of the Rotary Club of Lagos All is now set for the induction of Rotarian Wale Agbeyangi as the 61st President of the Rotary Club of Lagos (District 9110), which is set to mark the beginning of a new dawn for the Club.

The event, according to a statement by the chairman of the installation committee, Rotarian Mohammed Garuba will hold next Friday, July 2 in Lagos Agbeyangi, who had also been the 2nd Vice President of the Club, will take over from the outgoing president, Rotarian Dare Adeyeri.

The Managing partner of F.O Akinrele & partner, Mr Ademola Akinrele (SAN), will be guest speaker while, the MD/CEO of First Bank Nigeria Limited and subsidiaries, Dr. Adesola Adeduntan, will chair the event.

Wale Agbeyangi is the Group Managing Director/CEO of Cordros Nigeria Limited and has been a consummate entrepreneur and investment banker with specialist knowledge of Securities Trading, Asset Management and Investment Banking Services.

He has an extensive global

network of Institutional, High Network clients and investors across the financial markets.

He holds a LL.B Degree in Law from the University of Lagos and was enrolled at the Nigerian Law School as a Solicitor and Advocate of the Supreme Court of Nigeria.

He also holds an MBA from the Business School Netherlands, and he is an authorised dealer of the Nigerian Stock Exchange (NSE), and a Fellow of the Chartered Institute of Stockbrokers (CIS).

Seven gunmen suspected to be herdsmen last Saturday in Offa town in Offa Local Government Area of Kwara State allegedly shot a pregnant woman dead and kidnapped her husband.

The deceased was said to be the wife of a phone accessories dealer in Owode market in the town known as Lukman.

The incident, it was further gathered, happened few minutes to 7p.m. when Lukman was driving his father-in-law, pregnant wife and another of their child home along Ojoku road very close to the Divisional Police Headquarters.

The wife reportedly died on the spot after she was shot and her body, which was initially taken to the mortuary of Offa General Hospital, has since been buried.

Chairman of Fiscal Responsibility Commission (FRC), Mr. Victor Muruako (left), and the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, during a visit by the FRC boss to Bawa in Abuja…weekend

EFCC to Work with FRC to Retrieve N1.2tn Operating Surplus Held by MDAs Davidson Iriekpen The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has pledged to work with the Fiscal Responsibility Commission (FRC) in retrieving about N1.2trillion worth of operating surplus held by defaulting Ministries, Departments and Agencies (MDAs) of the federal government.

The EFCC boss made the pledge when the Chairman of

Agbeyangi

Gunmen Kill Pregnant Woman, Abduct Husband in Kwara Hammed Shittu in Ilorin

STRENGTHENING COLLABORATION…

Giving further details of the incident, a close family source told THISDAY in Ilorin yesterday that: “The deceased operates a chemist shop at Osunte on Ibrahim Taiwo road in Offa.

“The kidnapped husband was driving the family home when less than two minutedrive to the Divisional Police Headquarters on Ojoku Road, seven gunmen suspected to be Fulani herdsmen attacked them and shot the wife before whisking the husband away.”

It was, however, not clear at the time of filing this report the circumstances that warrant the killing of the wife, while the father-in-law and child were spared.

When contacted, the state Police Public Relations Officer (PPRO), Mr. Ajayi Okasanmi, confirmed the incident, adding that: “The command is working hard to rescue the kidnapped victim.”

the FRC, Mr. Victor Muruako and his management team paid him a courtesy visit to the former at the EFCC headquarters in Abuja Bawa, who promised that the EFCC will work with the FRC in blocking budget leakages, said recovery of the said N1.2trillion will go a long way to shore up revenues for use by government for public service delivery.

A statement by the FRC head of Strategic Communications, Mr. Bede Anyanwu, said the EFCC helmsman was reacting to a disclosure

by Muruako, who noted that while the FRC has recorded significant gains in blocking wastages in public finance management, about N1.2trillion has remained in the hands of defaulting MDAs who have applied different means, including smart accounting, to deny payment to the Consolidated Revenue Fund (CRF) of the federal government.

Muruako identified the absence of enforcement powers in the Commission’s enabling law as a major weakness, hampering its efforts in enforcing fiscal transparency

among agencies of government, and requested the intervention of the EFCC to enable it achieve its mandate.

“The FRC recognises that we can hardly achieve our key aim and objective of ensuring the long term stability of the nation’s economy without the assistance of your commission. For one, we believe that the credibility of the economic system in Nigeria is a prerequisite for achieving economic stability and this is where EFCC comes in,” he said to his host.

Anambra APC Governorship Aspirants Reject Primary Election Result David-Chyddy Eleke in Awka Ten governorship aspirants of the All Progressives Congress (APC) in Anambra State have rejected the result of last Saturday primary election in which Senator Andy Uba emerged the winner.

The aspirants, who briefed journalists in Awka, the state capital, after a closed-door meeting, said no election held in the state on Saturday; however, describing the election result published by the Ogun State Governor, Prince Dapo

Abiodun, as ‘Facebook result’.

The embittered aspirants are Dr. Chidozie Nwankwo, Dr. Hygers Igwebuike, Pastor Godwin Okonkwo, Chief Ben Etiaba, Mr. Johnbosco Onunkwo, Dr. Paul Orajiaka, Azuka Okwuosa, George Moughalu, and Col Geoff Onyejegbu (rtd).

One of the aspirants, Muoghalu, who spoke on behalf of others, said: “There was no election in Anambra State last Saturday.

Opportunity was not provided for our people to choose who

they desire to represent them in the forthcoming election.

“Whatever you do in the primary election has a way of affecting the main election, and with what happened on Saturday, we are not sure what we are heading for.

“We are here because an election did not hold and the Ogun State Governor, Prince Dapo Abiodun, came out to announce a result and expects us to accept it. We are here to tell you that election did not happen anywhere in

the state.

“You all will agree with me that we have been here in the last six months building support bases in the state and meeting our party members, and in the end, election did not hold. They started distribution at after 3p.m. and in some other places 6p.m., and you know what that means because arrangements for electricity and security was not made, so how will the people

APC Crisis: I will Not Join Issues with Kwara Gov, Says Information Minister Hammed Shittu in Ilorin The leader of All Progressives Congress (APC) in Kwara State and Minister of Information and Culture, Alhaji Lai Mohammed, has stated that he will not join issues with the state Governor, Alhaji AbdulRahman AbdulRazaq, over series of allegations he made at the weekend about the funding and campaigns that cumulated in his victory in the 2019 gubernatorial election.

Speaking yesterday in a telephone

interview with journalists in Ilorin on his reaction to the governor’s outburst last Saturday, the minister said: “Have you ever seen me joining issues with him? I will not join issues with him.”

The immediate-past state Chairman of the APC, Hon Bashir Bolarinwa, however, denied the allegations made by the governor that he was not consulted by the party before constituting the party’s campaign structure for the 2019 general election.

Bolarinwa said the governor

was consulted and that he suggested a uniform campaign body for the party so as to save cost and make it effective, and even nominated Kale Belgore to be on the committee before turning his back to the party.

Headded:“Thegovernorhastoldthe world the truth that he did not fund the campaignoftheparty.Hewascontacted, and after he approved the campaign structureheadedbyChiefSundayOyebiyi, the chairman of the APC in Kwara North senatorial zone, he turned his back and abandoned the party.

“It was the minister who funded

the campaigns of the party for the 2019 elections.”

On the stolen donations made to the party, “I don’t know anything about that.”

The governor had during a book launch titled: ‘O to ge’, which captured the political development of the period, recalled the political trauma he went through on the mantra of ‘O to ge’ in the 2019 gubernatorial election leading to his victory, and how hundreds of millions of naira donated for his campaign was stolen.

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Ukiwe, Jang, Akintoye, Others Warn World Bank, IMF against Fresh Loans to Nigeria Prominent elder statesmen and leaders of thought yesterday warned the international community against lending the federal government more loans, stating that “Nigeria is now a country with questionable

sovereignty.”

The eminent Nigerians, numbering 129, were signatories to the Constitutional Force Majure (CFM) declared on December 16, 2020 on the 1999 Constitution of Nigeria.

Pension Industry to Tap from Islamic Capital Market, Says SEC Ndubuisi Francis in Abuja The Director General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, has disclosed that the non-interest (Islamic) capital market (NICM) would soon witness substantial investment from the pension industry.

Yuguda said that it would be a game-changer that would spur more issuances of NICM products by corporates and other categories of issuers.

He made this remark at a virtual seminar on “Investor Protection and Transparency in Islamic Capital Markets” that was organised by the Islamic Financial Services Board (IFSB) and the SEC. He also stated that the level of activities in non-interest (Islamic) capital market currently being

witnessed in Nigeria attests to the overwhelming acceptance of products offered in the market by the investing public.

Yuguda said that this underscored the need to enhance the commission’s investor protection mechanism in order to ensure transparency in the market.

He stated that non-interest capital market has a huge potential in Nigeria because of its prospects to attract large pool of untapped investor base to participate in the capital market and the existing investors who seek to diversify their portfolio.

Yuguda said the level of activity in non-interest (Islamic) capital market that is currently being witnessed in the country affirmed the overwhelming acceptance of such products by the investing public.

Anambra PDP Primary: House Minority Caucus, Saraki Congratulate Ozigbo ChuksOkochaandUdoraOrizu inAbuja The Minority Caucus of the House of Representatives and a former Senate President, Dr. Bukola Saraki, yesterday congratulated the former Group Chief Executive Officer of Transcorp Plc, Valentine Ozigbo, on his emergence as the standard bearer of the Peoples Democratic Party (PDP) for the November 6, 2021, Anambra State governorship election.

The caucus in a statement issued by its leader, Hon. Ndudi Elumelu, commended other aspirants for their display of the spirit of sportsmanship leading to the successful conduct of the primary for the election.

It, therefore, charged all the aspirants and critical stakeholders of the party in the state to quickly come together and present a formidable

common front that would lead the party to victory in the election.

The lawmakers said: “Given the popularity of our party and candidate in this election, I have no iota of doubt that with the concerted effort of all, nothing will be in the way of the PDP to take over governance in Anambra State on November 6, 2021, in line with the wishes and aspiration of the Anambra people. Once more, congratulations to the PDP and the people of Anambra State.”

Meanwhile, Saraki, while congratulating Ozigbo on his victory in a statement signed on his behalf by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, also appealed to leaders of the PDP across the state to rally round the candidate so as to ensure victory for the party in the election.

Fayemi Celebrates ExWAEC Registrar, Ajayi at 91 Victor Ogunje in Ado Ekiti The Ekiti State Governor, Dr. Kayode Fayemi, has commended the first graduate of Ado Ekiti and former Registrar of the West African Examination Council (WAEC), Mr. Alex Olu Ajayi, for translating his personal life history into a memoir that caould serve as legacy for generations unborn.

Fayemi gave the commendation in Ado Ekiti at a reception organised to celebrate Ajayi’s 91st birthday and explained that the memoir: “A Legacy on the Move” that was written in elegant language was an encyclopedic work of history, culture, religion, education, geography, administration and others.

He promised that copies of the book would be circulated to all secondary schools in Ekiti, adding that the book would be of a huge service to the younger generations who knew little or nothing about the celebrant and the history of Nigeria and Africa.

The reception party for the renowned educationist and the longest serving Chairman of Ado Local Government Council had in attendance, the Wife of the Governor, Erelu Bisi Fayemi; African first Plastic Surgeon, Professor Olatunde Oluwasanmi; representatives of Ewi in council; the Ekiti Elders Council; Old Student Association of Christ School, Ado Ekiti and other prominent sons and daughters of Ekiti.

Notable among the leaders are former Chief of General Staff, Commodore Ebitu Ukiwe (rtd); former Governor of Plateau State, Air Commodore Jonah Jang, renowned historian, and Second Republic Member of the Senate, Prof. Banji Akintoye; former President-General of Ohanaeze Ndigbo, Chief Nnia Nwodo; respected varsity don, Professor Yusuf Turaki and 124 others.

In a statement released yesterday, they warned the World

Bank, International Monetary Fund (IMF), United Nations, African Union, European Union, United States, French, Chinese and British Governments against lending fresh loans to the Nigerian government, stressing that borrowing a “disputed project” loan can only be considered an act of negligence.

The statement issued by the Chairman of the Steering Committee of NINAS, Folashade Olukoya, on behalf of the

NINAS Secretariat, reads: “News reaching the Nigerian Indigenous Nationalities Alliance for SelfDetermination (NINAS), says that the Nigerian government has taken on further loans.

“Again, we remind the International Community that Nigeria is now a disputed project.

This was articulated in our press conference of December 16, 2020, when we declared a Constitutional Force Majeure.

“Subsequent activities as

articulated at press conferences of March 17, 2021, and April 17, 2021 emphasise that Nigeria remains a disputed project. Knowing this and lending to a disputed project can only be considered negligence.

“For the avoidance of doubt, the indigenous nations will not, and cannot be expected to repay such loans or allow their assets to be used as collateral to offset the loans.”

DEEPENING TRADE TIES…

L-R: Turkish officials, Mr. Alper Haner; Mr. Onur Akgul; 2nd National President of Nigerian Association of Chambers of Commerce Industry, Mines and Agriculture (NACCIMA), Mr. Dele Oye; Turkish New Ambassador to Nigeria, Amb. Hidayet Bayraktar; Turkish officials, Nkemdilim Ezedunor and Erbay Ongun shortly after a Business Council meeting on how to improve Bilateral trade between Nigeria and Turkey in Abuja… weekend

FCTA Demolishes 349 Shanties on Airport Corridor Olawale Ajimotokan in Abuja The Federal Capital Territory Administration (FCTA) at the weekend demolished over 349 illegal structures at the LugbeAcross in the precinct of the Nnamdi Azikiwe International Airport, Abuja.

Some of the demolished sites, included Lugbe Berger, Car wash, and Lugbe Zone 5.

The demolition exercise was tagged ‘2021 mother of clean ups’, and it lasted for over seven hours.

The operation was a routine exercise on the Airport Road corridor in the light of the primacy of the airport as the gateway into the country’s capital.

It was led by the Chairman, FCT Ministerial Committee on City Sanitation, Ikharo Attah, and accompanied by security personnel and Fire Service officials. The Chief of Garki, Dr. Usman Nga-Kupi, was also on the entourage.

Attah said the exercise was to ensure that Abuja is maintained in line with the best practices of

orderliness and sanitation.

He said the Minister of FCT, Malam Muhammad Bello, who paid a visit to the area recently in the company of FCT Commissioner of Police and some senior military officers, was piqued by the level of infringement in the area.

He decried that most of the areas designated as car park for the residents, along the fence line, had been converted to shops.

According to him, “The people have turned the fence line to motor

park, where car owners park and pay N1,000 on a daily basis. In line with the town planning rules and to keep the city clean and safe, we will not to be deterred from this comprehensive clean up show that FCTA is committed to in keeping the city clean.”

FCTA decried the contravention of the fencing of the organic settlement for the residents that were waiting for resettlement by those living within the area in stark violation of the Abuja master plan.

SERAP Urges African Commission to Order FG to Withdraw Anti-media Bills Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has asked the African Commission on Human and Peoples’ Rights in Banjul, The Gambia, to issue provisional measures to urgently stop the Federal Government of Nigeria and the National Assembly from supporting and pushing through two bills to ‘gag the media’ and impose arbitrary and harsh punishment on journalists and media houses.

The complaint followed the move by the House of

Representatives to pass two bills seeking to amend the National Broadcasting Act, and the Nigeria Press Council Act. The bills are sponsored by the Chairman, House Committee on Information, Hon. Segun Odebunmi (PDP, Oyo State).

SERAP, in the complaint, dated June 26, 2021, and addressed to the Chairperson of the commission, Solomon Ayele Dersso, and Commissioner and Special Rapporteur on Freedom of Expression and Access to Information in Africa, Ms Jamesina Essie L. King, said the bills are

not keeping with the provisions of the Declaration of Principles on Freedom of Expression in Africa, which supplement articles 1 and 9 of the African Charter.

The complaint read in part: “The bills include retrogressive provisions that threaten human rights, including freedom of expression, access to information and media freedom, and could criminalise reporting and give the government overly broad powers and oversight over journalists, broadcast stations, media houses and media professionals.

“If passed into laws, the bills

would be used by those in power to intimidate and harass their critics, and to stifle freedom of expression, access to information and media freedom. The bills would have a chilling effect on the media thereby inducing some measure of self-censorship. The actions by the Nigerian Government and National Assembly are contrary to Articles 1 and 9 of the African Charter, and have thereby violated Nigeria’s positive obligation under Article 1 to recognise the rights, duties and freedoms and to adopt legislative or other measures to give effect to them.”

Osun NDLEA Intercepts 385.539kg of Illicit Substances, Arrest 253 Suspects Yinka Kolawole in Osogbo The Osun State Command of National Drug law Enforcement Agency (NDLEA) has arrested 253 drug suspects.

This was disclosed by the State Commandant of the NDLEA, Mr. Samuel Egbeola, when he

reviewed the activities of the command between June 2020 and June 2021.

Egbeola said that 240 males and 13 females were arrested within the period under review.

He stressed that the command seized over 385.539 kilogrammes of different illicit substances made up of cannabis

sativa, tramadol, ryphnol while 10.050 hectares of cannabis farms were destroyed.

Egbeola also noted that the period under review also witnessed the conviction of one drug suspects while about 30 cases are pending in the court.

He also said that 167of them were counseled.

He emphasised that enlightenment campaigns had been organised in several secondary and tertiary institutions in the state during the period and remarked that the feat achieved during this period were made possible through the assistance of several stakeholders.

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Dangote Makes Nigeria Third-highest Country in Urea Capacity With the coming on stream of Dangote Fertiliser Limited, global urea capacity is poised to see considerable growth over the upcoming years, potentially increasing from 222.96 million

tonnes per annum (mtpa) in 2020 to 305.92 mtpa in 2030, registering a total growth of 37 per cent, according to a GlobalData report.

The three million metric tonnes of Dangote Fertiliser plant and

Many Traumatised by Nigeria’s Situation, Says Jonathan Former President Goodluck Jonathan has said with all the issues bedeviling Nigeria, incidents of mental health had suddenly become a challenge as most Nigerians were currently traumatised by the happenings in the society.

He has also expressed concern over the increasing crime wave in the country, stressing that most of them were caused by consumption of drugs.

Jonathan expressed his views during a courtesy call on him by the Chief Executive Officer of the Albino Foundation, Jake Epelle, its management and partners to appreciate him for paying the bills of persons with albinism to undergo surgery against cancer overseas.

According to him, most

areas of the health system needed to be revamped to meet international standards.

“Most of these crimes perpetrated are drug-induced because no sane Nigerian will just go and commit crime except he is high on something. Imagine starting your day with the news of killing in the morning, it leaves an impression on your mind. We need to also look into issues of mental health.

“Now, we have cults in primary and secondary schools; then, it was in tertiary institutions, but you now see children in these schools thinking of how to kill their mates. This is sad.”

Earlier, Epelle appreciated Jonathan for being the first President to pay the bills of persons with albinism to secure treatment

around 88 planned and announced plants are scheduled to come online, predominantly in Asia and Africa, over the next five years.

GlobalData, which made this announcement in its Global Urea Capacity Additions by 2030, released recently, hinted that the completion of Dangote Fertiliser has made Nigeria the third-highest country in terms of capacity additions, with a capacity of 11.58 million tpy by 2030. “Major capacity additions will be from two planned plants Dangote Group Lekki Urea Plant 1 and Dangote Group Lekki Urea Plant 2 with a capacity of 1.50 million tpy each by 2030,” it added.

Dangote Fertiliser plant has however placed Nigeria in the

third position among other countries, like Iran and India that will lead in global urea capacity growth by 2030.

The report classified Dangote Industries Limited, Nagarjuna Fertilisers and Chemicals Limited and Fertiliser Corporation of India Limited as the top three companies globally in terms of planned capacity addition to global urea production by 2030.

Dangote Industries Limited has completed the largest fertiliser Plant in West Africa. The Dangote Fertiliser Project is the largest Granulated Urea Fertiliser complex in the entire fertiliser industry history in the world, with an investment of $2.5 Billion capacity of three million tonnes Per Annum TPA. The Dangote Fertiliser complex

consists of Ammonia and Urea plants.

The Dangote Fertiliser plant, which has created thousands of direct and indirect jobs in construction and related fields, will provide a major boost to the agricultural sector by significantly reducing the importation of fertiliser in Nigeria and ultimately removing the need for imports when plant is in full production.

Speaking during the truck out of urea fertiliser recently, Group Executive Director, (Strategy, Capital Projects & Portfolio Development) Dangote Industries Limited, Devakumar Edwin, revealed to the press over the weekend that the Plant, which has the capacity to turn out more

than 4,500 tonnes of urea per day will conveniently meet the local demand and even produce for exports.

According to him: “We have the capacity to turn out 4,500 tonnes of Urea everyday…this is a bulk application fertiliser… each crop in Nigeria or globally will require Nitrogen and this is a rich fertiliser, having 46 per cent nitrogen.The company has the capacity to meet local demand and also export to African countries…

Currently the demand is less than 1 million tonnes and we alone can produce 3 million tonnes, so we can easily meet local demand and also produce for export to other West African countries.”

NIRSAL Managing Director/CEO Emerges Among Best Global CEOs In recognition of his outstanding contributions to Agriculture and Agribusiness as the Managing Director/CEO of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc), Aliyu Abdulhameed has emerged winner of the CEO Today Magazine Global Award 2021.

CEO Today Magazine identifies and honours the most respected companies and their C-Level executives who lead the way for others on a global stage. According to the magazine, the 2021 awards is special because it recognises CEOs who, despite the odds brought on by the COVID-19 pandemic, successfully executed their corporate strategies.

In its flagship publication, CEO Today highlights NIRSAL Plc’s innovations, achievements and plans under Abdulhameed’s leadership as exemplary and worthy of recognition.

Some of the innovations that have been introduced to the Nigerian Agriculture sector as a result of Abdulhameed’s leadership at NIRSAL Plc include the creation of the NIRSAL Agro Geo-Cooperative® (AGC) concept, which structures farmers, aggregates their farmlands into contiguous stretches of 250 hectares each and links them with training, inputs, mechanization, financing and produce buyers.

Key stakeholders in Gombe State, including lawmakers, traditional rulers, religious leaders and top politicians have rejected the decision of Senator Mohammad Danjuma Goje (APC, Gombe Central) not to contest for elective position in 2023.

Goje, a third termer at the Senate, had in December 2019 announced his decision not to contest for any elective position again.

A motion to compel Goje to contest was moved and seconded by the stakeholders during the unveiling of Goje’s legacy of service as a former minister, governor and senator in Kumo,

L-R: Incoming Chairman, 2022 International Conference for Ministers and Leaders (ICML), Rev. David Adetomiwa; National Secretary, Foursquare Gospel Church in Nigeria, Rev. Yomi Oyinloye; General Overseer, Rev. Sam Aboyeji; outgoing Chairman, 2020/21 ICML, Rev. Ben Taiwo; and Chairman, Camp Board, Rev. Hakeem Ogunniran, during the inauguration of two transformers at Foursquare Camp, Ajebo, Ogun State … weekend ABAYOMI AKINYELE

Ibadan Poly Suspends Lectures, Conferences, Others over Insecurity The Polytechnic, Ibadan, has announced the suspension of all activities on the campus with effect from yesterday, June 27.

The school, however, said the ongoing second semester examinations would continue

despite the announcement.

The institution’s Registrar, Mrs. Modupe Fawale, made the announcement in a statement issued yesterday.

The registrar hinged the decision of the school to suspend

activities on the security situation on the campus and outside.

It stated that academic activities, including conferences, seminars and workshops in the institution had tentatively been suspended.

“The authorities of The

Polytechnic, Ibadan have suspended all public activities, including conferences, seminars and workshops in the institution and its environment until further notice apart from the ongoing second semester examinations.”

Labour Party will Address Challenges in Anambra, Says Party’s Candidate Sunday Okobi

Abdulhameed

Gombe Stakeholders Reject Goje’s Retirement from Politics Nseobong Okon-Ekong

LET THERE BE LIGHT…

Akko Local Government Area of the state at the weekend.

Taking turns to speak, amid thousands of politicians from across the 11 LGAs of the state, the stakeholders threatened to institute legal actions if Goje refuses to heed to their calls.

Speaking during the event, a former Deputy Governor of the state, Senator Joshua Lidani, said Goje’s interventions cut across the state and the North-east geopolitical zone, saying he played critical role in the establishment of the North-east Development Commission.

He urged Goje to heed the calls of the people of the senatorial district.

The governorship candidate of the Labour Party (LP) in the forthcoming election in Anambra State, Mr. Obiora Emmanuel Agbasimalo, has rallied the people of the state to vote for his party, as the party has concluded plans to finally address the foundational challenges in the state.

He added that he and his party have developed strategies to use the abundant human and non-

human resources in the state to industrialise Anambra and make it the envy of other states.

According to him, “I would effectively harness all the state’s resources to create a wellstructured entity with strong institutions; a state where its citizens and residents would enjoy a very high standard of living that would be the envy of the country.”

Agbasimalo, who stated these while chatting with journalists at

the weekend during the unveiling of the party secretariat in Awka, the state capital, added that LP is a strong party that has been in existence since the Fourth Republic.

“I chose the Labour Party because I believe it has a viable platform on which I can achieve my objectives for the people of the state.

“I am the man to beat because I represent a breath of fresh air, a deviation from the norm. The

ways things have been done in the past cannot lead Anambra State to the Promised Land.

“I represent a manifesto that would address the foundational challenges in the healthcare sector, security, agriculture, education, infrastructure, as well as commerce in the state. My manifesto would also address the necessary catalysts for growth such as women and youth empowerment, effective local government administration, social welfare, among others.

NDDC: Forensic Auditors Begin PhysicalVerification in Imo, Abia Ndubuisi Francis in Abuja Forensic auditors commissioned by the federal government to scrutinise the activities of the Niger Delta Development Commission (NDDC) have finally commenced physical verification of projects in Imo and Abia States about two months after the exercise was rolled out in seven other states.

THISDAY gathered at the weekend that the exercise has already been concluded in five

of the nine states that make up the NDDC-Akwa Ibom, Bayelsa, Cross River, Edo and Ondo. Abia, Delta, Imo and Rivers States are still undergoing verification.

While physical verification by the forensic auditors commenced in seven of the nine NDDC states in mid-April, the exercise could not commence in Abia and Imo States due to the recent security challenges in the South-east region.

However, with normalcy returning to the zone, BBC

Professionals, a firm of forensic auditors handling Lot 8 (Imo State), at the weekend, undertook an on-the-spot assessment of project sites in the Ohaji Local Government Area of the state.

They are part of the 16 auditing firms contracted by the federal government to audit the projects/ activities of the interventionist agency between 2001 and 2019.

Conducting the auditors round the projects sites, a Deputy Director at the NDDC office in Abia State,

Mr. Raymond Ogara, said some of the commission’s projects ranged from roads, electricity, building of school classroom blocks, and the provision of water, among others.

Some of the projects verified by the auditors were the 20-km Obinze/ Umuokanne/Ilile/Umuapo link road; six classroom blocks at Umuokanne Comprehensive Secondary School; a water project as well as 300kva electricity transformers installed at different parts of the community, among others.

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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

EURO 2020...EURO 2020...EURO 2020...

Belgium Knock out Cup Holders Portugal, to Face Italy in Q’final Belgium’s Thorgan Hazard thundered in a first-half winner as they beat title holders Portugal 1-0 in their Euro 2020 last-16 game last night to move into the last eight to face Italy on Friday.

A 43rd-minute strike from Thorgan Hazard secured the win for Roberto Martinez’s team, who survived plenty of pressure from the Portuguese in the second half.

But with the finishing touch missing, it was the end of the road for

Cristiano Ronaldo and a Portugal team who had triumphed in Paris five years ago.

Portugal began brightly and Diogo Jota wasted a great chance in the sixth minute, dragging his shot wide after Renato Sanches had broken from midfield and found him in a promising position on the left.

Ronaldo then tested Belgium keeper Thibaut Courtois with a low-struck free kick as Fernando Santos’s team continued

to apply pressure.

But Belgium grew into the game with Kevin De Bruyne increasingly influential and three minutes before the interval they grabbed the lead.

A smart passing move ended with Thomas Meunier feeding Thorgan Hazard, whose wickedly swerving shot flew past the wrong-footed Portugal keeper Rui Patricio.

Belgium suffered a blow when De Bruyne limped off with an injury three minutes after the break and Santos sought to breathe life into his side’s attack by introducing Bruno Fernandes and Joao Felix from the bench.

Ronaldo, cutting in from the right, did well to find Jota in the box but again the forward’s effort was off target but Belgium

were struggling to contain their opponents.

Belgium’s attempts to counter were increasingly rare and Portugal turned up the heat in the final 10 minutes as they searched desperately for an equaliser.

Courtois punched away a thundering Ruben Dias header from a corner and then Raphael Guerreiro struck the post with a

sweet first-time shot from the edge of the box.

Deep in added time, Portugal created one final opportunity but Felix’s drive flashed just wide of Courtois’s right-hand post.

Belgium will face Italy, who beat Austria 2-1 on Saturday, in Munich on July 2. The Italians are unbeaten in their last 31 matches.

NPFL: Akwa Utd’s Unbeaten Run Ends, Fans on Rampage in Jos Duro Ikhazuagbe Akwa United’s 18-match unbeaten run was halted yesterday by Katsina United that snatched a 1-0 victory against the Nigeria Professional Football League (NPFL) leaders on Match-day 29.

Samuel Kalu’s lone winner dealt the Promise Keepers their first defeat since Match-day 10.

The defeat has now narrowed Akwa United’s lead to just a point at the top with both Nasarawa United and Kano Pillars jointly on 52 points hot on their heels.

Both Kwara United and Enyimba on 49 points from 28 games are fourth and fifth.

However, the bad news of the Match-day 29 weekend came from Jos where Plateau United fans turned Enyimba players to punching bags after the goalless game. At the end of the rampage, two Enyimba players sustained varying degrees of injuries from stones and other objects hauled at the players and the referee.

In Lafia, Nasarawa United edged Rivers United 2-1 to stay in second place due to better goal difference than Pillars.

The hosts shot into the lead in the 22nd minute through right back Chigozie Obasi before doubling their advantage on the hour mark through midfielder Tochukwu Michael.

Rivers halved the deficit courtesy of a Godwin Aguda penalty in the 68th minute but that was all Stanley Eguma’s men could get from the game.

Kano Pillars stayed in touch with the top two with a hard-earned win over FC Ifeanyiubah in Kaduna.

Ebuka David Odenigbo scored in the 36th minute, what turned out to be the only goal of the game to give Sai Masu Gida an important win which does their title credentials a whole deal of good.

Kwara United defeated Sunshine Stars 1-0 in Ilorin to earn their first home win in nine years over the troubled Owena Whales. Striker Michael Ohanu ended a ten-game goal drought in the

sixth minute after Sunshine defenders failed to deal with a Joshua Agboola set play and thus give the Harmony Warriors maximum points.

Kwara United are now 4th on the log, courtesy of a superior goals difference over Enyimba who produced a superb defensive display to hold Plateau United 0-0 in Jos. The People’s Elephant will also have their Togolese goalkeeper Sabirou Bassa-Djeri to thank even though centre back Timothy Danladi got sent off in stoppage time.

Dakkada FC recorded consecutive away wins for the first time in their top flight history after a shock 0-1 win over Abia Warriors in Okigwe. In-form winger Isaac George volleyed home in the 76th minute to condemn Imama Amapakabo’s Warriors to three defeats in seven days.

In Owerri, Heartland FC defeated MFM FC 2-0 in a tempestuous contest at the Dan Anyiam Stadium. Right back Chidera Eze gave Heartland the lead in the sixth minute before both teams had players sent off in the second half.

Eze himself received the marching orders shortly after MFM goalkeeper Adeniyi Bamidele was dismissed for a second bookable offence. Super sub Kingsley Maduforo sealed the game off in the sixth minute of stoppage time with a fine finish to give Fidelis Ilechukwu another win over his former side.

Second from bottom Warri Wolves remain rooted in 19th spot after another home loss in Ozoro, this time to Rangers International. The Flying Antelopes stunned their hosts in the 63rd minute through Christian Nnaji’s strike to extend Wolves’ losing streak to four consecutive losses.

MATCH-DAY 29 Wikki 1-0 Lobi Stars K’Pillars 1-0 IfeanyiUbah Kwara Utd 1-0 Sunshine Katsina Utd 1-0 Akwa Utd Heartland 2-0 MFM FC Warri Wolves 0-1 Rangers Nasarawa 2-1 Rivers Utd Plateau Utd 0-0 Enyimba Adamawa 2-0 Jigawa GS Abia Warriors 0-1 Dakkada

Thorgan Hazard (right) celebrating his winner with brother Eden Hazard with Axel Witsel (left) enjoying the moment as Belgium defeated cup holder Portugal 1-0 to reach quarter final...yesterday

2020 Olympics: D’Tigers’ Coach Excited by Agbo’s Form Head Coach of Nigeria’s senior men’s basketball team, D’Tigers, Mike Brown, has singled out Chibuzo Agbo for praise as the team’s camping progresses in California, USA Ahead of the 2020 Olympic Games.

Agbo who is part of the 49-man list invited by the Nigeria Basketball Fede r a t i o n , h a s b e e n described as an allro u n d p l a y e r t h a t h a s many things to offer the team.

With competition for just 12 slots expected to be keenly contested, Brown said he will be paying special attention to the Texas Tech Raiders guard in the course of the week.

Brown who also doubles as Golden State Warriors associate head coach said: “Chibuzo Agbo is a young man that I am extremely interested to see and watch closely throughout the course of the week.”

Brown projected the

6ft 7in tall player who is eligible for the NBA draft in 2024 for greatness and highest level of basketball if he maintains his work rate and development.

“His size, athleticism, his ability to shoot the ball, his strength and his ability to defend are very vital to what we expect to see in our players,” he stressed in admiration of the player.

Nigeria is grouped

alongside USA, Australia and winners of the groups competing in the OQT in Split which includes Croatia, Brazil, Germany, Mexico, Russia and Tunisia.

Focus will also be on the Olympics Qualifying Tournament in Belgrade between Dominican Republic, Italy, New Zealand, Puerto Rico, Senegal and hosts Serbia with the winner also joining the group in Tokyo.

Akpeyi Wins MOTM in Kaizer Chiefs, Wydad Clash The Confederation of African Football (CAF) yesterday named Super Eagles goalkeeper, Daniel Akpeyi, as the Man of the Match (MOTM) in Kaizer Chiefs held Wydad AC of Morocco to qualify for their first Champions League final.

The Delta-born safe hands returned from a head injury to put up a cameo performance as the South African team held the Moroccans to a goalless dress and pick the final ticket 1-0 aggregate.

According to the statement posted on CAF’s Twitter handle yesterday, Akpeyi polled 55 per cent

of the votes cast by fans to clinch the award.

Kaizer Chiefs’ Erick Mathoho was second, winning 38 per cent while Wydad’s duo of Mohammed Ounnajem and Achraf Dari were third and fourth with five and two per cent respectively of the total votes cast.

Akpeyi is yet to concede a goal in the CAF Champions League this season (6 games – 8 hours and 11 minutes of football).

He’s the only keeper in the entire competition to have played more than 90 minutes and not conceded at least once.

Daniel Akpeyi...named Man of the Match in Kaizer Chiefs v Wydad AC match

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A BATON FOR TOKYO

I

sat and watched the events unfold with a smile and a tear.

That contradictory mix of emotions, only sports can guarantee it. It was the Lagos State hosted Open Athletics Meet and the Teslim Balogun Stadium was a beehive of activity. Athletes had come from around the continent to compete alongside our home-based for another chance at booking places to Tokyo for the much delayed Olympic Games. The Olympics obviously holds a great value in my heart. It was at this biggest of fiestas that my greatest feats in sports occurred. You do not often boast of such a near perfect record. Two Olympic Games, two medals (one Gold and one Bronze), a national record, an African record and a promise of National Honours and House (Yet to be redeemed.)

So you would not need to search for so long to see where the smiles on my face emanated from. Seeing four young girls run an incredible race, getting the relay baton through one after the other to finally cross the finish line and book a place in the Tokyo 2020 Olympic brought out the emotion in me.

The jubilations, the back patting, the sheer joy was nothing but infectious as my mind wandered in nostalgia to a period over two decades when I had same aspirations on the biggest sporting stage that these damsels have just booked passage to.

My smile too was in acknowledgement of the crowd at the stadium.

The Lagos State Sports Commission had invited schools to come and share in the experience and also participate in the invitational relays for secondary schools.

These energetic young kids were given a glimpse to what our nation can be like when united for a cause.

The performances no doubt would have inspired some would-be Olympians our there amongst the kids.

It was an experience they would cherish for a long time.

With the celebrations of our ladies clinching a spot in Tokyo was equally the disappointment of our men’s teams failing to qualify in both the 4 x 100m and the 4 x 400m relays. While the men’s 4 x 100m seemed closer to qualification, the disappointment of the quarter-milers sent the tears down my cheeks. It is understandable. After being involved in a team

that achieved so much success in the continental and world stage, I almost came to assume that success in that event was more of a birthright for Nigerians.

More so, having seen closely the effort and the talent at the disposal of the coaches, I believed that the team that failed to make the cut had

400m teams in my career, these group of guys were more talented than most of the teams I competed in ( maybe with the exception of the Olympic Gold Medal winning team in Sydney). So why did they falter? With the elements like the weather and the atmosphere very favourable, I took a closer

Patience Okon George (left) anchored the team to qualify every talent available to meet the near pedestrian qualifying time for the Tokyo Games.

What then really went wrong?

I could not fault the effort of the quarter milers. They were determined and focused.

Neither could I question the talent in the team. Having been involved in many 4 x

look at the coaching set up.

With predominantly sprintbiased coaches overseeing them, there was a certain lack of tactical nuance within the set-up. I saw effort and time spent on the sprint relays in training without similar adequate attention paid to the 4 x 400m team. It was

like the belief in them was not solid.

With 4 x 400m relay bringing Nigeria’s first medal in Olympic at the Los Angeles ‘84, that event ought to be our pride and given special attention. We should make every Olympic a celebration of the event. The event has given us a complement of all medals in the Olympics, 1 Gold, 1 Silver and 2 Bronze medals making it our most successful Olympic event. This should be an indication that our strength is here and we must work to make it our signature event. It is about time we treat it as such. The Athletics Federation of Nigeria needs to seriously see that we have a relay programme. Employing a consultant for both relays not a bad idea. And unlike many professions or areas, having participated and succeeded in the relays makes one a vital resource in transferring success to others. So much in the relays depend more on experience than theoretical knowledge, but having both

is a great advantage.

So as Team Nigerian heads off to the digitally advanced Asian state of Japan, we may be represented in only two of a possible five relay events. For a country that prides itself as an athletics powerhouse, that is just not good enough. Some may rightly blame infighting within the boardroom of the Nigerian athletics family but we should never be in a position where qualification is left to the last moments of a major championships.

The Olympic Games are just around the corner.

We expect that when the flames go up in the opening ceremony and the fiesta begins, whoever is wearing the green and white of Nigeria would put their all irrespective of the past, and bring more smiles than tears to an expectant nation.

* Enefiok is an author, Speaker, administrator, Life coach, businessman and Nigeria’s ONLY Male two Time Olympic Medalist

EURO 2020...EURO 2020...EURO 2020...

Czech Republic Stun 10-man Netherlands to Reach Q’final The Czech Republic on Sunday pulled off the shock of the 2020 European Championship so far by defeating the Netherlands 2-0 and booked their place in the last eight after defender Matthijs de Ligt was sent off.

Tomas Holes nodded in the opener 13 minutes after De Ligt saw red for handball following a VAR review, denying Patrik Schick a clear goalscoring opportunity.

Holes then turned provider for Schick as the Czechs doubled their lead on 80 minutes.

The Netherlands, down to 10 men for over half an

hour, had a huge chance earlier on as Donyell Malen raced through one-on-one with goalkeeper Tomas Vaclik.

But the Czech Republic, ranked 40th in the world, 24 places behind the Dutch, went on to silence those in orange at the Puskas Arena in Budapest, setting up a quarter-final with Denmark on Saturday, 3 July.

The Netherlands have shown attacking intent throughout the tournament and that did not change in Budapest as wing-backs Denzel Dumfries and Patrick van Aanholt caused problems early on.

Dumfries was their main

threat, getting in behind at one point on the left and flicking it over the keeper but unable to beat the last defender.

Memphis Depay was heavily involved too, while Malen got into some dangerous positions.

But while the Netherlands caused problems out wide, so did the Czech Republic, as Vladimir Coufal exploited space in behind left by the roaming Van Aanholt.

Both teams looked susceptible in defence but when De Ligt tripped and pulled the ball back with his hand in the second half, it left referee Sergey Karasev with no choice but to

overturn his original decision to show just a yellow card.

And then the Netherlands were on the back foot.

Dumfries made a goalsaving block to deny Pavel Kaderabek but Holes punished the Dutch

minutes later, finishing off a knock-back from Tomas Kalas on a corner.

Schick’s fourth goal of the tournament finished it off after the Netherlands had pushed for an equaliser only Portugal’s Cristiano

Ronaldo has more goals than the Czech forward so far.

They travel to Azerbaijan to take on Denmark next, who they beat 3-0 in the quarterfinals of Euro 2004.

Deschamps Warns French Players Not to Under-estimate Switzerland France boss Didier Deschamps has warned his players should not “under-estimate” Switzerland and is preparing to overcome mounting injuries in today’s Euro 2020 Championships last-16 tie.

Deschamps saw two leftbacks - Lucas Hernandez and Lucas Digne - go off injured in their final group game against Portugal.

For Monday’s game in Bucharest, French media feel he will use a new formation.

It is thought Deschamps is considering a move to 3-5-2.

That would include Benjamin Pavard and midfielder Adrien Rabiot used as wing backs.

Deschamps - bidding to become the first man to win both the World Cup and European Championship as player and coach - has warned his side must simply “be at our best”.

“We mustn’t under-estimate them and it’s a knockout game

so we’ll have to do everything we can to ensure we have smiles on our faces at the end of the match,” said Deschamps, 52.

“They’re a well-structured team and they have good attacking potential with Seferovic, Embolo and Shaqiri.”

France are unsure on the fitness of Digne and Hernandez, have lost Ousmane Dembele to a knee injury for the rest of the tournament, while Marcus Thuram and Thomas Lemar are also nursing injuries.

Juventus’ Rabiot is also carrying a knock but despite the mounting injuries, France are still big favourites to progress past a side who have not reached the last eight of a major tournament in 67 years. A quarter-final against Spain or Croatia awaits the winners.

Switzerland reached the quarter-finals as one of the best third-place finishers in the group

stages.

A confidence-boosting win over Turkey last time out saw key players shine.

Liverpool’s Xherdan Shaqiri scored twice and found good positions to register a game-high seven shots.

Arsenal’s Granit Xhaka won possession eight times - a high for his side - while midfielder Steven Zuber became just the third player in European Championship history to register three assists in one game, joining Denmark legend Michael Laudrup and ex-Portugal playmaker Rui Costa.

Switzerland coach Vladimir Petkovic said: “In the past couple of years we had great performances against great sides. We need to play to our strengths. Against a side like France, if we both give 100%, it won’t be enough. They’ll have to give 80% and we need to make the most of it.”

Czech Republic players celebrating defeating the Netherlands 2-0 to reach quarter final... yesterday

Serena Skips Tokyo 2020 Olympic Games Four-time Olympic gold medallist Serena Williams has confirmed she will not play in this summer’s delayed Tokyo Games.

The 39-year-old American, who made her Games debut at Sydney in 2000, made the announcement in her preWimbledon media conference on Sunday.

“I’m actually not on the Olympic list - not that I’m aware of. If so, then I shouldn’t be on

it,” she said.

Williams did not want to elaborate when asked more about the decision.

The 23-time Grand Slam singles champion had already indicated she did not want to travel to Tokyo because she could not take three-year-old daughter Olympia with her under Games restrictions.

“There’s a lot of reasons that I made my Olympic decision. I don’t feel like going into them

today. Maybe another day.

Sorry,” she said.

Williams won gold in the singles and women’s doubles at London 2012, with her two other medals coming in the doubles at Sydney 2000 and Beijing 2008.

She begins her bid for an eighth Wimbledon singles title and a record-equalling 24th Grand Slam singles title against Aliaksandra Sasnovich of Belarus.

Monday June 28, 2021

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NINAS to FG “For the avoidance of doubt, the indigenous nations will not, and cannot be expected to repay such loans or allow their assets to be used as collateral to offset the loans” – Nigerian Indigenous Nationalities Alliance for Self-Determination (NINAS) telling the international community to stop giving Nigeria loans.

OKEYIKECHUKWU

EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

Until After the Season of Locusts A s I write, the Federal Republic of Nigeria stands in the season of locusts. The “season,” which has lasted for all of 20 years, took up a new burst of speed six years ago.

Now it is at a deadly gallop, even ramping up more speed at incredibly sharp bends.

Can a nation survive on the long term when distribution and consumption are the pillars of every government action? I think not.

Thus, the Nigerian state of today lives like a locust. Locusts, by the way, are always a danger to every plant, every farmer and every habitat. They simply eat and eat. Their waste product is not known for great value as fertilizer, because a totally devastated environment does not have anything that can be fertilised. All you see is devastation in the trail of any self-respecting locust. Yes, it does not cultivate what it eats. It also does not water anything. It offers no supply of manure, no! It just eats, moving ever forward and consuming more; until there is nothing left to eat. Even as it is dying of hunger, having exhausted all viable food sources, it learns nothing. That is the profile and reputation of the Nigerian State today!

An Igbo proverb says that a person who borrows dancing clothes must be careful how he poses and dances in the village square.

The reason and logic of this proverb is quite simple: Whoever borrows clothes to dance in the village square must avoid excessive displays, or that very vigorous swinging of certain parts of the body that may tear the material. Failure to be careful may force the lender of the dancing gear to take back his materials there and then. But does it look like the executive and legislative arms of our government are bothered by such a proverb today? We are still borrowing cheerfully. And we are spending noisily, even as we are announcing that we need to spend more. So, we are simultaneously priming for more borrowing; even as we cannot say what has been gained by the previous borrowings.

Apparently aware that capital consumption is not an ingredient for national development, the Senate President warned, last week, that we cannot keep borrowing just for consumption. But who is paying attention?

The National Assembly, of which the Senate President is Imperator, did not blink about a supplementary budget of nearly one trillion Naira. And none of this is going into sustainable development initiatives and investments. That is why a national debt profile that stood below five billion dollars at the commencement of this government

now stands at over thirty billion dollars.

Petrol was less than a hundred naira per litre back then, but it is now a little short of three hundred Naira per litre today. Value Added Tax shot through the roof, among other costs as well. A bag of rice that sold for between five and seven thousand Naira, now sells for twenty-five thousand Naira; having come down from over thirty thousand Naira. Nobody seems to be paying the right type of attention to what is brewing in the land. To the fact than abject, unmanageable poverty, unemployment, insecurity and general collapse of Service Delivery across every sphere of life has laid the State prostrate. Not even the warning of the Sultan of Sokoto, three weeks ago, to members of the National Assembly to address insecurity instead of organising conferences about has made any lasting impression, And let us note, for the record, that the stage was already set under the PDP government for what we are seeing today.

An article which appeared on this page on December 2, 2019, praised the lawmakers of Zamfara State for putting “… an abrupt end to the rampage of political locusts in their land. They also did it with the type of speed needed in addressing a dangerous ailment.” The article, titled “Zamfara Says

Goodbye to Locusts” commended “The bold step of repealing a thoroughly reprehensible piece of legislation, which allowed former governors and lawmakers to fleece the state for no reason whatsoever.” The piece spoke of “The rash of bogus severance packages for former elected officials of a certain stature…” as “…one of the many obnoxious legacies of the PDP government in its sixteen years in office. No matter what anyone may say about the painful poor performance of the APC government of today, it must be admitted that the PDP was not exactly leading us anywhere close to 21st century leadership paradigms, before it lost power due to its own bungling. Even today, as opposition party, it is hamstrung by the impunity of little men. No one who looks closely at it will feel that this is a platform with the prospect of leading anyone to the Promised Land.

At least not immediately. It lacks internal cohesion, offers no real hope and gives no clear indication of a new national vision.

If anything, there are renewed doubts as to whether it has learnt any lessons and is treading a new path. But we are digressing.”

If today we are complaining about the mindless borrowing of a clearly sleepwalking Continued on page 47

BRF at 58: A Return to the Mind’s Infrastructure Hakeem Bello

T

welve years ago, in his Year 2010 budget presentation to the Lagos State House of Assembly on Tuesday, November 3, 2009, as Governor of Lagos State, Babatunde Raji Fashola, SAN, had said, in part, “…while a lot of work has been done in our attempt to bridge the infrastructure gap and a lot of projects, too numerous to mention will be completed before the end of this year and in the first and subsequent quarters of next year such as schools, health facilities, roads, water supply facilities and so much more. We believe that we are now at the most challenging phase of our journey to a bright and rewarding future.

“For too long, we seem to have evolved survival strategies for dealing with chaotic and unplanned living that we now seem afraid to approach orderly living predicated on law and order.

We are at the point where we must build the most enduring infrastructure. This is the infrastructure of the mind. This is the infrastructure that empowers people to seek new levels of excellence that demands new attitudes that commits to greater ideals. We recognise that while the buildings, schools and roads can be easily pulled down and rebuilt, the human mind is the most difficult to rebuild, although it is the most enduring.”

A rigorous enforcement of the law and multi-dimensional public awareness campaigns followed that declaration and characterised the rest of the administration.

Six years into his assignment as a minister responsible for the renewal and expansion of our country’s infrastructure, he had repeatedly stated a fact: there is no state in the country where the Federal Government is not building

Fashola or rehabilitating a road or bridge or house, or to use a phrase he had used while governing Lagos State, doing “infrastructure catch-up” with population growth.

Progress has certainly been made.

By June 21, 2021, when he made a presentation titled, “The Politics of Economy and the Economy of Politics: Infrastructure Development; the Progressive Way” at the first APC Youth Conference in Abuja, infrastructure deliverables had shot to 895 ongoing Highway and Bridge projects, internal road rehabilitation in 43 federal tertiary institutions, construction of new Federal Secretariats in six states and rehabilitation/maintenance of 24 Federal

Secretariats across the country, construction of housing estates under the National Housing Programme in 34 states, rehabilitation of 41 bridges, scheduled maintenance of 5,461.88Km of roads and 8,000KM of Highway maintenance

by FERMA, all across the nation while Government established the first ever National Building Maintenance Policy for the country, leading to the creation of the Department of Federal Public Asset Maintenance (FPAM) with the Ministry.

Earlier in an interview published in African Business of 6 April 2021, Fashola told the magazine’s Publisher Omar Ben Yedder: “The point to make here is that the outline of the infrastructure commitments of this government are very clear now. The wheels are also turning and what people should expect to see is more developments on the ease of doing business.

Infrastructure is very important too for enabling and achieving that. We’re refurbishing public infrastructure highways, and we are beginning to build our maintenance economy because it is a very important economy that really has not taken off. This is where we will be, this will be a decade of infrastructure renewal and expansion. It will be an exciting space to play.”

Fashola turns 58 today, and the theme of the Babatunde Raji Fashola (BRF) Gabfest (held yearly in the last five years to commemorate his birthday by discussing the role of the youth in Nigeria’s future) is “Arrive Alive: Building a road towards better driving culture.”

From verifiable data by traffic management authorities, it is becoming clear that with better road infrastructure, motorists now overspeed and are becoming generally less compliant with road safety rules and regulations.

In a recent submission to the Federal Executive Council, Fashola had noted:

“Consistently over the years and this data is available, the impact of bad roads and accidents was less than 2%. As big as that may be, it is less than 2%. (Whereas) overspeeding, loss of control, wrongful overtaking cumulate to over 70%.” This is huge.

For Fashola, this cannot be overlooked; the numbers must be drastically brought down.

For him, it is time again to focus on building the infrastructure of our minds.

As he puts it further in that submission “our focus as a government is that we’ve agreed that the driver has a role to play, starting from education and certification….”

Thankfully, the federal government has recently inaugurated the National Road Safety Advisory Council with Vice President Prof Yemi Osinbajo, SAN, as chair, to “ensure the effective implementation of the Nigerian Road Safety Strategy Version 2, 2021-2030, which centres on a safe system approach to road safety based on global standards,” to quote the Corps Marshal of the Federal Road Safety Corps (FRSC), Dr Boboye Oyeyemi.

Besides education and certification, which will be executed by the Ministries of Education and Information, FRSC, state and local governments, Fashola has noted that installation of road traffic signs and patrol of the highways will be intensified. So also, it is a good development that one of the key elements of the recently signed National Health Act is the development of emergency life support system. As Fashola noted: “Road traffic crashes happen everywhere in the world.

The problem is: can you bring it down? and should a road traffic crash lead to death? So, emergency life support is critical.”

Fashola has, over the years, demonstrated that Continued on page 47

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