MONDAY 4TH JANUARY 2021 by THISDAY Newspapers Ltd

Analysts List Path to Economic Recovery, Growth in 2021 Seek privatisation, commercialisation, sales of moribund assets Dike Onwuamaeze and Peter Uzoho in Lagos Financial and economic experts have advised the federal government to look inward in its resource mobilisation

activities in the new year. They also urged the government to open up the economy through privatisation, commercialisation and outright sales of its moribund assets to facilitate the private sector to

take charge of the country’s economy. Some industry experts have also predicted a brighter prospect for the oil and gas in the new year, saying the sector has a brighter chance of

recovery from its losses which will in turn impact positively on Nigeria’s economy in 2021. They anchored their optimism on the eventual discovery of the COVID-19 vaccines, the expected

restoration of oil production output by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) and the stabilisation of oil price at over $50 per barrels, among others.

The economic experts called on the government to make more investments in human development, especially on education, health and the Continued on page 9

Onyeali-Ikpe Assumes Office as Fidelity Bank MD/CEO... Page 10 Monday 4 January, 2021 Vol 25. No 9402. Price: N250

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Atiku Abubakar No Longer Our Shareholder, Says Intels Ex-VP sells shares for $100m, may be ready for another presidential bid Dike Onwuamaeze Former Vice President Atiku Abubakar has divested from Integrated Logistic Services (INTELS) Nigeria Limited, the country's largest logistics company that provides comprehensive integrated services for the nation's oil and gas industry, THISDAY learnt at the weekend. Intels spokesman, Mr. Tommaso Ruffinoni, said Atiku exited the company with his

family as at December last year. The former vice president was said to have sold his interests through a series of transactions executed by his family Guernsey Trust, in deals that began in December 2018 and concluded last year. Atiku was said to have sold his shares in Intels to Orleal Investment Group, the parents company of Intels, for Continued on page 9

Tinubu Not Ill, Went to UK to Rest, Says Aide Onyebuchi Ezigbo in Abuja All Progressives Congress (APC) National Leader, Senator Bola Tinubu, is hale and hearty, his spokesman, Mr. Tunde Rahman, said yesterday. Rahman, reacting to reports that Tinubu had contracted COVID-19 and was flown to France for treatment, explained that his principal was in the United Kingdom resting after months of vigorous activities in Nigeria, including trips to Kano and

Maiduguri. Tinubu’s son, Seyi, also dismissed reports that his father tested positive for COVID-19. The social media has been abuzz with reports that the former Lagos State governor is currently receiving treatment for COVID-19 in France. But Seyi, in a post via his Instastory yesterday, quoted Rahman as saying Tinubu has done the COVID-19 test 15 times and tested negative Continued on page 9

APPRECIATING GOD'S BENEVOLENCE... L-R: Lagos State Governor, Mr. Babajide Sanwo-Olu; his wife, Dr. Ibijoke Sanwo-Olu and Chairman, Lagos State chapter of Christian Association of Nigeria (CAN), Apostle Alexander Bamgbola, during the state government’s Annual Thanksgiving Service, in Lagos...yesterday

FG Expects to Take Delivery of COVID-19 Vaccines January Ending...Page 5

MONDAY JANUARY 4, 2021 •T H I S D AY

MONDAY JANUARY 4, 2021 • T H I S D AY

MONDAY JANUARY 4, 2021 •T H I S D AY

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NEWS

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

FG Expects to Take Delivery of COVID-19 Vaccines January Ending

Onyebuchi Ezigbo and Olawale Ajimotokan in Abuja The federal government has given assurances that the first batch of COVID-19 vaccines will arrive the country latest by the end of January. National Coordinator of the Presidential Task Force on Control of COVID-19, Dr. Sani Aliyu told ARISE News, the broadcast arm of THISDAY Newspapers, yesterday that there is a presidential directive to ensure that the vaccines are sourced as timely as possible. "In terms of when it is going to be available in the country, there is a lot of work going on with National Primary Healthcare Development Agency (NPHCDA) and the president directed the Presidential Task Force on Control of COVID-19 last two weeks to get involved in the nitty gritty of the efforts to ensure that the vaccines come in a timely manner. "We expect the first batch of vaccines to come in possibly towards the end of January. "The control of the pandemic will rely not only on full compliance of the nonpharmaceutical interventions but also the availability and acceptance of vaccination

programmes. “We cannot allow ourselves to become a pariah nation, we don’t really have a choice when it comes to vaccines, we have to vaccinate our public especially those that are vulnerable the elderly, those that are most likely to have severe illness and we will definitely not be left behind as a country,” Aliyu stated. According to him, Nigeria cannot afford to be a pariah nation in the race to obtain vaccines, adding that a lot of work is ongoing with the National Primary Healthcare Development agency and the Global Vaccine Alliance Initiative (Gavi) with whom the federal government has signed an agreement for access to the vaccines. With the vaccines, the federal government is targeting to vaccinate 20 per cent of the population in the first instance against the virus which has killed about 1,400 Nigerians and infected about 89,163 persons since the pandemic first hit the country in on February 27, 2020. President Muhammadu Buhari had during the presentation of the end of the year report by PTF, tasked the body to coordinate the

process for planning and strategy for the delivery and administration of the vaccines using the existing health structures that have worked in the past in vaccine

administration. A committee has already been set up by the government to select the vaccine most appropriate for the country from the existing vaccines

against the virus considering that different temperatures are required to protect vaccines. More than 85 million COVID-19 cases have been reported globally with the US,

India and Brazil remaining the worst-hit countries in terms of the number of cases. Also Europe is in the grip of a devastating second wave of infections.

ON-THE-SPOT ASSESSMENT... Vice President Yemi Osinbajo (2nd right) with oﬃcials of Social Housing Scheme during an inspection of prototypes of onebedroom and two-bedroom bungalows of the Social Housing scheme in Abuja...weekend

OPS Expresses Concerns, Hopes as AfCFTA Takes Off James Emejo in Abuja and Dike Onwuamaeze in Lagos Members of the organised private sector (OPS) in Nigeria have welcomed the commencement of the African Continental Free Trade Area (AfCFTA) agreement, which took off on January 1, 2021, with excitement and expectations of enhanced business opportunities within an enlarged African continental market. The members of the OPS, comprising the Lagos Chamber of Commerce and Industry (LCCI), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Abuja Chamber of Commerce and Industry (ACCI), that spoke with THISDAY on the commencement of the free trade area agreement, said the implementation of the AfCFTA would deepen Nigeria’s economic reach in Africa. They also noted that the implementation of the free trade agreement would be a gradual process due to institutional arrangements needed to be in place across the continent and some aspects of the agreement that need to be straightened out. Trade, according to NACCIMA, has commenced but some of the operational requirements are still work in progress. Some of these include the requisite documentation to accompany the goods, registration of

eligible traders among others. Moreover, trade liberalisation will take place over a period of 10 years so tariff will still apply until then, although it will start reducing from this year. The Director General of the NACCIMA, Ambassador Ayo Olukanni, stated that there is excitement in the private sector on the news of the commencement of trading under the AfCFTA. Olukanni illustrated the excitement that pervaded the Nigerian business community with the preemptive strategic repositioning by an Ogun State based coffee farmer to capture the benefits that the AfCFTA would offer. He said: “I am aware of a Nigerian Small and Medium Enterprise (SME), which is doing profitable business by supplying coffee to the local Nigerian coffee market. When I visited its premises, the owner revealed that they have acquired about two acres of land somewhere in Ogun State to expand its production of coffee. “The company explained that it has taken that strategic initiative with an eye on the AfCFTA in order to be able to compete, specifically with coffee from Ethiopia and Kenya. That is the spirit Nigerian private sector should have regarding the trading under the AFCFTA.” He added that NACCIMA has been emphasising that the AFCFTA will not be a 100-metre dash, but a long distance race.

“In this context, we are encouraging many of our members to take a long view of history and start getting ready for it. Some may be able to plug in the short run and it may take others a longer time,” Olukanni said. The NACCIMA boss, however, noted that naturally there are also apprehensions in the Nigerian business community regarding the AfCFTA depending on the economic sector each business is playing from. He, however, warned that the federal government and the business community should pay attention to the implementation of AfCTA to ensure Nigeria maximises gains from it. The Director General of the LCCI, Dr. Muda Yusuf, also said the OPS is excited about the commencement of the AfCFTA because it is something members have always wanted. “We believe that economic integration has several benefits in terms of the market size that is about $3 trillion of 1.2 billion people. That is a huge opportunities for Nigerian businesses and investors,” Yusuf said. He, however, noted that businesses also need to be well positioned competitively in order to benefit from the opportunities since trade is all about competition. “But unfortunately, not all of us are properly positioned yet, especially those in the manufacturing, production and agric processing and

particularly those in the SMEs. The cost of production is still very high. Therefore the AfCFTA presents a significant competitiveness challenge to them,” he added. Yusuf identified five major challenges to be addressed to make Nigerian businesses ready and fully prepared for AfCFTA. He listed them as infrastructure, institutional, regulatory, foreign exchange and policy environments. He said: “You know that trade is about competitiveness. It is the survival of the fittest. It only underscores the need for us to scale-up our competitiveness as an economy. "What that requires is that the government should move very quickly to support enterprises in reducing their production costs by improving the regulatory and policy environments in a way that will make enterprises competitive and give them opportunity to be able to take advantages and the opportunities of the AfCFTA. “These challenges are issues about port operations, multiple taxation and power. When I said that we need to move quickly to address the bottlenecks in the economy, the port is one of them. Security is a major one. Transportation is a major one. Regulation is a major one. Policy is a major one. Foreign exchange environment is a major one.

It is vicious circle.” According to him, strong institutional reforms are needed mostly in the customs departments across Africa for the implementation of the Rule of Origin (RoO). He warned that failure to ensure an effective implementation of the RoO will inhibit the execution of AfCFTA and expose African markets to dumping of goods from other continents. He expressed concern that no word has been said either by the African Union Commission or the AfCFTA Secretariat on the harmonisation of some bilateral trade agreements between some African countries and countries outside Africa and institutions like the European Union. “Many of these trade agreements have provisions for free trade. So there is a challenge on how we are going to align them with the AfCFTA and this issue of RoO because it can tend to conflicts if we are not careful. Nobody is telling us what they are going to do with these bilateral agreements,” Yusuf said. In his reaction, the President of ACCI, Mr. Al-Mujtaba Abubakar, said the AfCFTA would enhance Nigeria's economic influence on Africa. Abubakar stated that as the leading economy in the continent, Nigeria has a historic opportunity with the commencement of the AfCFTA to deepen its

economic reach and depth across Africa by leveraging on its affirmed strengths in services and manufacturing sectors. In a statement to commemorate the implementation of the free trade area agreement at the weekend, Abubakar said Nigerian firms are already strongly rooted in many African countries and the take-off of the AfCFTA has presented them opportunities to accelerate trade. He explained that ACCI is re-committing itself to continuous mobilisation of its members to tap into the various sectoral action plans to enhance their capacities to trade within the context of the AfCFTA. "We want to note that Nigeria has been fervently preparing for this day, especially through the mobilisation and strategic activities of the national committee on readiness for the AfCFTA," Abubakar said. According to him, the various sub-sectoral groups have worked for months collating, designing and launching various sectoral action plans to the private sector on strong footing for the continental programme. He said the chamber would launch a Monthly AfCFTA Monitoring Review Roundtable to assess development within the free trade process, assess issues of interest and address disputation in the trading process.

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MONDAY JANUARY 4, 2021 • T H I S D AY

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OPEC Forecasts 5.9mb Rise in 2021 Daily Crude Oil Demand Sees brighter days ahead for oil market Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries (OPEC) has projected a daily crude oil demand increase by 5.9 million barrels per day this year, against the 2020 market figures, following the discovery of COVID-19 vaccines and the ramping up of economic activities in China. Secretary General of the cartel, Dr Sanusi Barkindo, who spoke yesterday during a Joint Technical Committee (JTC) of the organisation at its 47th meeting in advance of the 25th Meeting of the Joint Ministerial Monitoring Committee (JMMC), scheduled for today, described 2020 as a “horrific year”, but expressed optimism that the market was gradually picking up. While thanking the committee's members for their tireless efforts during one of the most volatile periods in the oil industry's history, Barkindo reflected on the proactive and decisive decisions taken by the Declaration of Cooperation (DoC) countries and how those decisions saved the industry from collapse. He said: '’Collectively, we have delivered an unprecedented response to an unparalleled market shock and continue to lead the industry on the road to recovery,'' the OPEC boss stated. He noted that the outcomes of the December 3 ministerial meeting paved the way for a gradual return of two mb/d to the market over the coming months, while the participating countries stand ready to adjust the levels depending on market conditions and developments. Barkindo stated that the global economy is now forecast to grow by 4.4 per cent in 2021, noting that the recent

developments of the COVID-19 vaccine have injected optimism into the economy and the oil market. He added that the 13-member body anticipates that crude oil demand will shift from reverse to forward gear and underscored the necessity of continuing to work together under the framework of the landmark DoC for the benefit of producers, consumers and the world economy. “China’s broad-based recovery forecast stands at about 6.9 per cent for 2021 and provides a beacon of hope for other economies, in the region and beyond. “Our analysts in the secretariat anticipate that crude oil demand will shift from reverse to forward gear and rise to 95.9 million b/d this year, a gain of 5.9 million b/d from 2020. The non-OECD will be in the driver’s seat with growth of around 3.3 million b/d. “These projections are a move in the right direction, but there is a wide valley separating this outlook from the secretariat’s pre-pandemic forecast. Before the current crisis, at around this time last year, we expected demand reaching 102 million b/d in 2021 – 6 million b/d more than the current projections. “I am, however, encouraged by the positive momentum in the energy commodity markets, with crude oil prices up by around $7 per barrel or 17 per cent since our last meeting,” Barkindo said. According to him, amid the hopeful signs, the outlook for the first half of 2021 remains mixed, indicating that there are still many downside risks to juggle as the world has only begun to emerge from a year of deep investment cuts, huge job losses and the worst crude oil

demand disruption on record. He recalled that it was only one year ago that the DoC participating countries began to introduce adjustments of a then-astonishing 1.7 million b/d, with additional voluntary contributions pushing that number to 2.1 million b/d. “These adjustments, as agreed at the 7th OPEC and non-OPEC ministerial meeting in December 2019, were a preemptory response to support continued stability in 2020, actions that were welcomed widely as the market rang in a new and promising year. Looking back at the projections provided by the JTC, I don’t think anyone could have done a better job. “In retrospect, those efforts taken at the end of 2019 pale in comparison to the scope

and scale of the actions we have carried out since a series of ground-breaking ministerial meetings in April, June, and culminating in the visionary decisions taken at the last meeting one month ago today,” Barkindo said. On a brighter note, he stated that following the last ministerial meetings, the price of Brent crude inched above $50 per barrel for the first time since early March, while US West Texas Intermediate experienced its longest stretch of advances since June. “After the unprecedented shock experienced last year, the economic forecast calls for brighter days ahead. Our analysts expect the global economy to grow by 4.4 per cent in 2021 compared to a sharp contraction of around

4.2 per cent last year. “The COVID-19 vaccinations provide upside potential for the economic outlook and may help usher in a strong rebound in the second half of 2021. Furthermore, we continue to see upward momentum in Asia, especially China,” he added. Barkindo also said that the Christmas eve trade agreement between the United Kingdom and the European Union remains a promising development for the recovery process after months of difficult and rancorous negotiations. He added: “Stimulus packages have clearly helped prevent deeper economic contractions and continue to lend crucial recovery support. The EU and US have now

approved measures which, taken together, provide nearly $2 trillion in additional support for those economies. “It is worth noting that fiscal and monetary stimulus packages in the G20, including bank guarantees, have reached $25 trillion, corresponding to more than 20 per cent of the global economy. “Finally, inventory levels show positive momentum– though they remain stubbornly high. Preliminary November data shows total OECD commercial oil stocks fell by around 24.8 million barrels m-om. “The current levels are more than 205 million barrels higher than the same time one year ago and about 163 million barrels above the latest five-year average.”

WORKING TOGETHER FOR OGUN PROGRESS... L-R: Olu of Ilaro, Oba Kehinde Olugbenle; Alake of Egbaland, Oba Adedotun Gbadebo; Ogun State Governor, Prince Dapo Abiodun and Akarigbo of Remoland, Oba Babatunde Ajayi, during the statutory meeting of the Council of Obas in Abeokuta...recently

Revealed: BA Bird Strike Incident Exposes Poor Emergency Response at Lagos Airport Chinedu Eze An incident, involving the British Airways Flight BA75 flight to Lagos, which was grounded due to bird strikes, has exposed the poor emergency response at the at the Murtala Muhammed International Airport (MMIA), THISDAY investigation has revealed. It was learnt yesterday that during the incident, which occurred on December 30, 2020, the delayed response by the Fire Department of the Federal Airports Authority of Nigeria (FAAN) at the airport could have worsened the incident as smoke engulfed the plane due to hydraulic leakage after the bird strikes. The BA flight operated by Boeing B777-300 aircraft, which left London to Lagos on December 30, 2022, suffered multiple bird strikes on its final approach to land at the international runway, 18R but it managed to land successfully. Reports indicated that the

bird strike caused hydraulic leakage, but the aircraft touched down safely and taxied out of the runway but it could not reach the apron because it lost its nose wheel steering, as the hydraulic system in the aircraft indicated zero quantity and smoke was seen from the main landing gear, forcing the aircraft to stop on the taxiway. The pilot of the flight, THISDAY gathered, called for emergency but there was no response until after 11 minutes when two firemen came to the aircraft with handheld portable fire extinguisher instead of a fire fighting truck, which arrived 16 minutes later. But on careful examination by the BA engineer that accompanied the flight, it was established that hydraulic fluid was dripping onto the hot brakes of the main landing gear of the aircraft, causing the smoke, which could have snowballed into a fire outbreak. THISDAY investigation revealed that the fire

department officials did not prepare for the emergency because the department is on the listening line between the Air Traffic Control and the pilot, so the officials in charge during that time ought to know the situation on ground, as they have direct information about the development. A former senior official of the Fire Department who has retired, made enquiries about the incident and told THISDAY that the firemen were not ready because those on duty when the incident happened were supposed to be kitted in their boots and other insignia but they were not dressed for the emergency. “If they had kept to the standard of operation, they would have been ready before the final stop of the aircraft because they are abreast of the interaction between the flight crew and the Air Traffic Control. They also have binoculars, which they ought to use to sight the aircraft from a distance and prepare for its landing.

“The officials in the watch/ listening room have binoculars and should have watched the aircraft approach and should have known that there was a problem and were supposed to have alerted the ground staff. I don’t know why they did not go with the vehicle because hydraulic leakage can cause fire when it gives out fumes, which are ignitable. When hydraulic falls on hot metal it ignites fire,” he said. The Regional Terminal Manager of the Lagos airport, Mrs. Victoria Shin-Aba, who confirmed the incident, confirmed that the Fire Department is on the listening line with ATC and pilots. She said FAAN has its processes in responses to different kinds of emergencies, adding that bird strike is a natural phenomenon associated with flights, which is not exclusive to Nigeria. Managing Director of Aero Contractors, Captain Ado Sanusi, told THISDAY that the airline’s aircraft has suffered bird strike many times but

noted that the rate has reduced in recent times. He said that to reduce the incident, FAAN’s Wildlife and Bird’s Department should ensure that the grasses at the airport, especially the runway area, are cut regularly, adding that the catering companies at the airport dump waste on the premises to attract birds. “We have had a couple of bird strikes but usually our take offs and landing don’t happen at the times birds come around at the Lagos airport. We agreed during a recent meeting that the catering companies should stop dumping rubbish at a place near the runway, which attracts the birds. I think they have agreed and moved their dumping ground but the birds are still coming,” he said. Air Peace Director of Flight Operations, Captain Victor Egonu, however, told THISDAY that the airline has a record of bird strikes but noted that bird strike is a wellknown situation in aviation and there is nothing that

could be done to stop it from happening but its occurrence could be reduced, just like the airport management in Singapore did. He added that Singaporean airport authorities created a place for birds, which are attracted to the place, thereby staying away from the runway. “It is difficult to manage birds because they could be migrating for warmer climate from Europe. They could converge during the cutting of grasses because that happens during the day time,” he said. THISDAY gathered that the British Airways flight remained on the ground for about 10 hours until temporary repairs were completed, then it departed for the return flight BA-74 and reached London with a delay of six hours. THISDAY contacted the Corporate Manager, Public Affairs, FAAN, Mrs. Henrietta Yakubu who promised to get back with a response but had not done so as at press time.

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Military: Scores Killed in Bombing of Boko Haram Base in Borno

Kingsley Nwezeh in Abuja

Military air strikes at the weekend struck a logistics base of terror group, Boko Haram, killing scores of terrorists in a hideout in two locations, notably, Kote Kura and Bulama Isamari, all in Borno State. The air interdiction came as the Nigerian Air Force (NAF) conducted a joint Combat Search and Rescue (CSAR), Special Forces (SF) and Air Police K-9 Simulation Exercise (JCSAEX) codenamed "Taimako Yazo," at Rijana Village along Kaduna-Abuja A military update issued by the Directorate of Defence Media Operations (DDMO) said the air strikes were

executed weekend employing appropriate force packages of fighter jets and helicopter gunships based on credible intelligence reports indicating that the Boko Haram terrorists had recently established camps at the two settlements where they stored their logistics items as well as plan and launch attacks. "Overhead Kote Kura, a settlement in Bama area, the NAF attack aircraft engaged scores of terrorists observed in the target area, leading to the neutralisation of several of them as well as the destruction of structures and logistics stores, some of which were seen engulfed in flames. "In the same vein, at Bulama

Isamari, within the Timbuktu Traingle, the NAF aircraft took turns in engaging the target, scoring accurate hits, which equally resulted in the neutralisation of several terrorists", it said. Meanwhile, the NAF has conducted joint operations at Rijana Village along KadunaAbuja highway. The exercise, code named "Taimako Yazo,” was aimed at simulating tactics, doctrine and synergy amongst first responders for effective CSAR operations of downed aircrew or other NAF personnel who have had to eject or abandon their aircraft in emergency situations.

Speaking during the exercise, the Chief of Air Staff, Air Marshal Sadique Abubakar, said the ability to rescue crew from hostile environments was particularly important as it could be adapted for anti-kidnapping operations as was recently done by the NAF in concert with other security agencies in the rescue of the kidnapped boys of Government Science Secondary School, Kankara in Katsina State. Abubakar stated that the overall desire of the NAF is to ensure that personnel are trained and equipped to maintain high levels of combat readiness and operational effectiveness. According to him, in a bid to

better reposition the NAF Special Forces through robust capacity building for more effective response to the various security challenges bedeviling the country in the areas of counter-terrorism, airport security and anti-banditry operations, the NAF in 2019 conducted several counterterrorism exercises in Kaduna, Kano, Niger and Osun States. Also yesterday, Intersociety said 200 Christians were killed in Nigeria since December 15, 2020 by jihadists. It said the slain Christians included those abducted on religious grounds and killed in captivity, including five abducted from Garkida in Adamawa State

by ISWAP jihadists on Christmas eve and beheaded on December 29, 2020. "Out of the about 200 Christian deaths, Boko Haram/ISWAP accounted for about 130 while jihadist Fulani herdsmen/Fulani bandits took responsibility for remaining 70 Christian deaths. "In all these, the Nigerian security forces have not only continued to wobble and look the other side, but also become ‘alarmists’ by only “alerting Nigerians particularly Christians of imminent attacks after which they (security forces) slumber and do nothing", a statement issued by the Head of the Organisation, Emeka Umeagbalasi, said.

Price Stability Raise Hope for Nigeria

countries. The COVID-19 vaccination is currently going on in some countries, including the United Kingdom, the United States, most of Europe, Russia, Canada and Saudi Arabia. This, Amieyeofori said, would hopefully open up the economies and impact on energy demands in the world, a situation that would help to increase Nigeria's oil revenue. According to him, the expectation that crude prices will stabilise around the current price of $50 per barrel in this 2021 brightens hopes for a stronger national economy in 2021. He said: “The Nigerian oil industry will also benefit significantly with the vaccination, plus the hope that the PIB will be passed into law this first quarter. “The industry will also be a beehive of activities with the award of the 57 marginal fields to indigenous oil and gas companies. “The PIB and the marginal fields should attract more foreign investments into the country. We also expect increase in activities in the gas sector this year, driven by Autogas and flare gas commercialisation programmes.” On policy actions the federal government needs to take to help mitigate some of the operational risks in the industry and attract more investments into the industry, he said: "The government must expedite the marginal fields awards and the passage of the PIB within the first quarter in order to drive the expected growth in the industry. “The government should also

address the issue of feedstocks challenges for the potential investors for the modular refinery industry as that is another source of investment into the country." Also on the meeting of the OPEC+ scheduled for today, to discuss production quota for February, 2021, he said the oil cartel would at the meeting, confirm additional reduction of 500,000 barrels per day oil production quota, thus reducing existing production cuts from the 7.7 million barrels to 7.2 million barrels. Also speaking to THISDAY, the Chairman of Society of Petroleum Engineers (SPE) Nigeria Council, Mr. Joe Nwakwue, said he was hopeful that global demand for crude oil would be restored and the prices of oil would stabilise above $50 per barrel. He added that the passage and prompt implementation of the PIB would address most of the domestic uncertainties and challenges being faced by the oil and gas operators in the country. “I hope that significant demand restoration will happen this year, especially with the ongoing COVID-19 vaccination efforts across the globe. Recovery will take time no doubt but I hope 2021 will launch us on the path to full recovery,” Nwakwue said. On some of the policy actions the federal government should take to attract more investments in the sector and reduce risks, he said: “We need to pass and implement an investor-friendly PIB, and work on most of the ease of doing business challenges facing the sector”.

ANALYSTS LIST PATH TO ECONOMIC RECOVERY, GROWTH IN 2021 containment of the spread of COVID-19. The experts who spoke to THISDAY at the weekend on how to revive and grow the economy in 2021, were the Executive Chairman and Founder of Phillips Consulting Limited, Mr. Foluso Phillips; Professor of Economics, Akwa Ibom State University and a former member of the Monetary Policy Committee, Prof. Akpan Ekpo and the Managing Director and Chief Executive Officer of BIC Consultancy Limited, Dr. Boniface Chizea. Ekpo urged the government to look inward in its resource mobilisation because the recession the country is experiencing currently will not allow it to effectively implement the fiscal policies in 2021. “So, what is required is to try and mobilise more internal resources and rely less and less on external borrowing. “We have to do more to curtail wasteful expenditure, which will involve what I may call ‘expenditure switching’ by moving funds from areas we do not need to spend them to social investment programmes. “Our expenditures should be to build more hospitals and educational facilities. The fiscal policy has to be more of correlation and consolidation in the sense that we are a federal system that has sub-national governments that need to be on course in order not to create macro instability in the economy,” he stated. Ekpo, who is the immediate past Director General of the West African Institute of Financial and Economic Management (WAIFEM), called on the government to divest some of its stake in strategic corporations as it did with the Nigeria Liquified Natural Gas (NLNG) in order to enable the private sector to make investments that will be useful for the economy. He said: “Government can do public offer so that interested Nigerians can buy shares in them and be interested in whether the companies are being well run or not. But it should limit how much shares a person can buy so that the assets will not go into a few hands. “There are others they will commercialise or sell completely so that their operations will be private sector driven. For example, assets like the Federal Secretariat, Ikoyi and buildings on the Broad Street and Marina, Lagos, and such abandoned assets in other parts of the country should be sold off to bring revenue to government. “It is sad that we have such government property all over the country. But the revenue from

their sales should be invested wisely because they are one-off sale. These things have been recommended before but I do not know why they have not been implemented.” Also, Phillips advised the federal government to implement policies that would be make the private sector to thrive. He aded that there is lot of money locally because each time the government issues bonds, they are always oversubscribed. “But people are not encouraged to put it into productive uses because the government seemed to be working against the private sector all the time. “We need a really private sector-focused economy because the government can never be as efficient as the private sector. “So, government policy must be on how to allow organisations in the private sector to succeed in turning inward. How can we get the civil servants and the regulators to have as their primary goal the need to make the private sector successful? Because the more successful the private sector is, the more successful the country will be since the government will always ride on the back of the private sector,” Phillips said. He advised the government not to run away from the reality of COVID-19, but use the advantage that it has far less damaging impact on human lives in Nigeria as a platform to jumpstart the economy. “We must make sure that there are clearly defined actions that can protect people because no amount of economic grammar will be profitable if you are losing lives, livelihoods and people are at home and panicking,” he added. Phillips also harped on the need for the government to put in more investments in education sector. “It should be education, education, since the government can never spend too much on education because it is what that will save us. The government must, as a matter of policy, put things in place that will give priority to education in terms of infrastructure and funding in such a manner that any person that is qualified to play in the educational sector must be a privileged person in our society.” He noted that the country needed investments in human development to turn its large human population into assets, crude oil into petroleum products and cocoa into chocolate. “The government must pay attention to education. If we do not start now, we are not going to get it in the next five, 10 years’ time. We must close our eyes and put money into

it because when it pays back it trickles down the line,” he added. Chizea, in his contribution, urged the government to tackle worsening youth unemployment by providing job opportunities for the youth. “Part of the agenda is to ensure that we broaden the social safety net by providing palliative like America is doing. The central bank will produce the money if need be. It will cause inflation, but people have to eat and be protected from hunger and the social crisis it brings. "Moreover, government should make the fund promised in the first stimulus package accessible by removing all the obstacles so that people can access it. It can only touch lives when it is accessed,” Chizea said. He called on the government to privatise its businesses because it has no business being in business and fight insecurity. He added: “Agencies and corporation to be privatised should be based on proper studies. But things like refineries should be privatised outright. How can we keep spending money on refineries that are not bringing in any income like the Kaduna refinery? Look at the steel plant in Ajaokuta that is not producing anything?” Similarly, a former Head, Department of Economics and Management Studies, Afe Babalola University, Ado-Ekiti, Professor Samuel Gbatayo, said the topmost agenda of the government in 2021 should be the restoration of security in order to foster enabling environment for economic recovery. He said measures should be taken to tackle insurgency, banditry, armed robbery, cultism and similar anti-social trends, “to inspire the confidence of both domestic and foreign investors, critical to the revival of the economy." He also advised thr government to deepen anti-poverty measures by empowering vulnerable segments of the society, especially the unemployed, women, elderly, handicapped and the infirmed. He added that investment in infrastructure development should be prioritised, “particularly with the engagement of direct labour at the three tiers of government to combat unemployment and improve the nation's moribund infrastructures." "Moreover, micro-credit facilities should be accessible to traders and the poor to support their livelihoods and lift them beyond the vicious circle of poverty,” he stated.

Vaccines, OPEC Output Increase, Oil

As Nigeria's oil and gas industry entered the new year with huge losses and sundry challenges due to the COVID-19 pandemic-led shocks on the sector, some industry experts have said the sector has a brighter chance of recovery from its losses, which will in turn impact positively on the Nigerian economy in 2021. The experts hinged their optimism on the eventual discovery of the COVID-19 vaccines, the expected restoration of oil production output by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) and the stabilisation of oil price at over $50 per barrels, among others. They also cited the awaiting passage of the Petroleum Industry Bill (PIB) by the National Assembly in this first quarter, the assent and implementation of the bill, and the awaiting allocation of new marginal oil fields to successful bidders, among others, as bases for their positive projection for the industry and the nation. The Nigeria's oil and gas sector faced a turbulent business year in 2020 due to the COVID-19 pandemic that led to the collapse of oil prices and the shattering of industry and national projections for the year. The Lead Promoter of Energyhub, Dr Felix Amieyeofori, told THISDAY yesterday that the oil and gas industry globally looks positive with the commencement of COVID-19 vaccination in more than 30

TINUBU NOT ILL, WENT TO UK TO REST, SAYS AIDE on each occasion.

According to him, his father is currently in the UK taking a vaccine instead. He said: “According to Tunde Rahman, spokesperson for Bola Tinubu, Asiwaju is not in Paris and he doesn’t have

Coronavirus. “That’s a lie from the pit of hell because my father is very ok neither does he have the virus. “If you must know, he has done the COVID-19 test 15 times, each time he travels

and mingles with many people though he always wore a face mask. “He is currently in London taking a vacation and there’s no iota of truth in the false information being shared,” he stated.

ATIKU ABUBAKAR NO LONGER OUR SHAREHOLDER, SAYS INTELS various amounts totalling over $100 million in the deal that spanned two years. It was learnt that Atiku was paid $60 million, $29 million $24.1 million in three instalments. Analysts believed that with that amount of cash, Atiku may be ready for another presidential bid. According to Ruffinoni, with Atiku's divestment of his interest in the company, two of his children working in the organisation, Mr. Adamu Atiku Abubakar and Mr. Aminu Atiku Abubakar, have ended their working relationship with the organisation. Efforts to reach Atiku in Dubai, where he is currently

based, proved abortive as he was said to have travelled to Saudi Arabia. The former vice president had in 2015, described Intels as his most successful business. But Intels, in the last few years, has been having a running battle with the federal government, culminating in the cancellation of its 17-year-old contract with the Nigerian Ports Authority (NPA) for pilotage monitoring. The federal government had in October 2017 directed the NPA to terminate the boats pilotage monitoring and supervision agreement that the agency has with Intels, saying that the contract was void ab initio.

The NPA had also accused Intels of refusing to remit to the federal government service boat pilotage revenue in the firm’s custody, which amounted to $207.646 million (N78.905 billion) as at September 30, 2019. NPA said the money was aside from service boat pilotage revenue for January 1, 2020 to July 31, 2020 amounting to $97.029 million, which adds up to $307.675 million (N115.775 billion) in the custody of Intels. However, Intels had denied owing NPA to the tune of $145.8 million, insisting that NPA owes it over $750 million, giving to a possible recourse to litigation to resolve the dispute.

MONDAY, ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

NEWS

$1.6bn for Power Upgrade Ready for Disbursement, Says FG Insists on full electricity subsidy removal Govt upbeat about evacuation of 7,000mw by year end Emmanuel Addeh in Abuja The federal government at the weekend assured Nigerians to expect an improvement in power supply soon as the $1.6 billion earmarked for the expansion and rehabilitation of the country’s transmission network is now ready for disbursement. It also foreclosed reviewing the withdrawal of subsidies in the power sector, saying the policy is no longer sustainable. It added that the World Bank, in collaboration with some agencies in Nigeria, are helping in working out an exit route on the subsidy payment. Director of Renewables and Rural Power Access, Mr. Faruk Yabo, who spoke on NTA, alongside the Special Adviser on Policy to the Minister of Power, Mr Abba Aliyu, on the ministry’s projections for 2021, explained that the federal government's target of hitting 7,000 megawatts by the end of 2021 through the Siemens intervention programme is still on course. Yabo said whereas January and December are usually characterised by serious power outages, due to changes in water level, 2020 was different, with the achievement of an all-year peak of 115mw per hour on December 11. He attributed the “feat” to rejigging and realignment of the Nigerian Electricity Supply Industry (NESI) by the Ministry of Power. “Looking ahead, the ministry has five key focus areas, which if judiciously pursued, will lead us to better prospects. Number one is the issue of addressing the liquidity problems of the sector. “It is very important for the sector to exit the current subsidy regime and happily

enough, based on policies under the power recovery programme, the World Bank and other agencies are working with the sector to actually create an exit route through providing loans. “These loans will allow for capping out of the subsidies in terms of the shortfall in the electricity market that will still allow for the payment of the generation, transmission and distribution cost, including metering, without having to continuously maintain the status quo. This is being vigorously pursued by all stakeholders. “Second, is that the issue of alignment of the value chain will be dealt with. As we speak, we have about 13,000mw installed capacity, whereas generation and transmission stand at 8,000mw. “Meanwhile, the total delivered peak power remains at 5,500mw, so the Siemens programme, which is coming to align the value chain, is one of those things we need to see, but the target is that by the end of 2021, we will have 7,000mw, by 2023, we will have 11,000mw and by 2025 we should have 25,000mw. “This is being strongly complemented by the current TCN transmission and rehabilitation expansion programme, which is also heavily supported by the donors. I think we have currently about $1.6 billion available for this particular work,” he stated. He explained that in the last 15 years, the electricity supply trend has not witnessed what it did last year, noting that instead of power shortages, supply actually increased during December 2020 and January 2021. He added: “We have seen a new trend, which is quite

amazing. In this time of the year, from between December and January, we usually have very poor power supply, but it seems we have added more competencies and hit new targets, which is quite unusual in the history of the power sector. “On the 11th of December, we had the highest generated power on any day of the year which is well over 115 megawatt/hour. "This was up from another peak that was reached in April, which was around 112 megawatt/hour. “Now the dams are supposed to be going down, we have a lot of challenges importing equipment because of the restrictions on travels. So, having the highest peak

Nigeria expended about N1.99 trillion on servicing domestic and external debts between January and September 2020, according to statistics from the Debt Management Office (DMO). Domestic debt instruments, which attracted the servicing during the reference period were Nigerian Treasury Bills (NTBs), Federal Government of Nigeria (FGN) Bonds, and Federal Government of Nigeria Savings Bonds (FGNSB). Others are FGN Sukuk Rentals, Green Bonds and Treasury Bonds. External debt service also involved multilateral and bilateral agencies, including the International Monetary Fund (IMF), the World Bank, African Development Bank (AfDB), Arab Bank for Economic Development, Exim Bank of China and Japan International Cooperation Agency (JICA), among others.

A breakdown shows that domestic debt service gulped a total of N1.53 trillion while $1.27 billion or N467.44 billion was expended on external debt service payments. In the first quarter of 2020, domestic debt service gulped N609.13 trillion while the second and third quarters gulped N312.81 billion and N604.19 billion respectively. Conversely, external debt service payments during the review period stood at $472.57 million (N170.60 billion); $287.04 million (N103.62 billion), and $507.15 million (N193.22 billion) in the first, second and third quarters of 2020 respectively, using the Central Bank of Nigeria’s official exchange rate of N361/$ for the first and second quarters while N381/$1 was used in the third quarter. Nigeria spends about 60 per cent of its revenue on debt service, a situation that has generated concerns within and outside the country.

many demands to continue to pay trillions of naira in terms of subsidies. We can all see that on account of technological advancement, sources of power supply like solar have continuously become cheaper and as we speak, a lot of countries are getting their supplies much lower than the current tariff that we have. “I foresee, going forward, that as we expand and aggregate, the tariffs are likely to be more reasonable. It is really important for the regulators to continue to insist that only those customers that are premium customers will be affected by this tariff increase at this time," he stated. In his remarks, the

special adviser to the minister identified one of the key problems facing the sector, which the current administration inherited, as the misalignment in the electricity value chain. “You have generation of about 13,000 megawatts, transmission of less than that and what can be generated of between 7,000 to 8,000 megawatts as well as a distribution that is far less than what can be transmitted,” he stated. Aliyu explained that the federal government’s solar home system scheme will generate 250 direct jobs, adding that the power sector is currently undergoing reforms that will bear fruits in 2021.

THANKSGIVING TIME... L-R: Imo State Governor, Senator Hope Uzodimma; his wife, Mrs. Chioma Uzodimma and a former Governor of the state, Chief Ikedi Ohakim, during a Thanksgiving mass to celebrate the New Year at Holy Trinity Catholic Church, Omuma, in Imo State... weekend

Debt Service Gulps N1.99tn in Nine Months Ndubuisi Francis in Abuja

in this kind of period, I will rather say that in the last 15 years this is a new trend. “I believe this is courtesy of some of the things that happened in 2020." The director said the issue of tariff is a largely legal issue, stressing that the manner of tariff increases is enshrined in the Electric Power Sector Reform of 2005 and requires as of law, a balance between customers and investors. According to him, while it is difficult to determine whether or not the industry has achieved a cost reflective tariff regime, it remains an issue of the “chicken and the egg”. “It will be very difficult for a country like ours with so

Nigeria plans to spend at least 24 per cent (N3.324 trillion) of its N13.5 trillion ($35.7 billion) 2021 Budget on debt servicing. It will raise an additional N4.28 trillion in new borrowings to fund the budget, which has a recurrent expenditure component of N5.64 trillion, capital expenditure of N4.125 trillion and N496.528 billion in statutory transfer. Going by the latest statistics released last Thursday by the Debt Management Office, Nigeria's total public debt stock, which comprises the debt stock of the Federal Government of Nigeria (FGN), the 36 state governments and the Federal Capital Territory (FCT), climbed from N31.009 trillion as of June 30, 2020 to N32.223 trillion ($84.574 billion) by September 30, 2020. This translates to a growth of N1.214 trillion or 3.91 per cent increase in the nation’s debt portfolio.

Onyeali-Ikpe Assumes Office as Fidelity Bank MD/CEO Nume Ekeghe The new Managing Director/ CEO of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, has assumed office, becoming the fourth chief executive officer and first female to occupy the position since the inception of the bank in 1988. Her tenure formally commenced on January 1, 2021. According to the bank, she succeeds the erstwhile MD/ CEO, Mr. Nnamdi Okonkwo, who retired on December 31, 2020, after completing his contract tenure in line with the bank’s governance policy. Fidelity Bank in a statement at the weekend, assured customers that the bank, “under her leadership, will consolidate on the already laid foundation and track record of performance, to execute the

next growth phase.” Onyeali-Ikpe was formerly the Executive Director, Lagos and South-west Directorate of the bank and has been an integral part of management in the last six years. She joined the bank in 2015 and spearheaded the transformation of the directorate, leading it to profitability and sustained its impressive year-on-year growth across key performance metrics, including contributing over 28% of the bank’s profit before tax, deposits and loans. She is vastly experienced and has spent over 30 years working in various banks, including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank/ Enterprise Bank, where she held management positions in legal, treasury, investment

banking, retail/commercial banking and corporate banking. As an executive director at legacy Enterprise Bank Plc, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON), as a member of the management team that successfully turned around Enterprise Bank Plc. She holds Bachelor of Laws (LLB) degree from the University of Nigeria, Nsukka; a Master of Laws (LLM) degree from Kings College, London; and has attended executive training programmes at notable global institutions including Harvard Business School; The Wharton School University of Pennsylvania; INSEAD School of Business; Chicago Booth School of Business; London Business School and IMD.

MONDAY JANUARY 4, 2021 • T H I S D AY

MONDAY JANUARY 4, 2021 ˾ T H I S D AY

NEWS

Second Wave of COVID-19: Governors, PTF, NCDC Strategise for Action Chuks Okocha in Abuja As the spread of the second wave of the COVID-19 continues across the 36 states of the federation continues, the governors, the Nigeria Centre for Disease Control (NCDC) and the Presidential Task Force (PTF) on COVID-19 and other global alliances for control of the pandemic are consulting on how to contain the pandemic. A close source from the Nigeria Governors Forum (NGF) told THISDAY that already the governors are in serious talks to adopt measures to address the second wave of COVID-19. According to the NGF secretariat source, “there is already an acknowledgement among the governors on the evidence of the second wave of the pandemic in the states. The governors are in possession of the daily statistics of the second wave as released by the NCDC and the PTF.” The source from the NGF secretariat said that the stage is now set for

the governors to meet as soon as possible with the NCDC and the PTF to agree among them, the various measures to be taken. The source further said, “Already, there is consensus among the governors that they may meet this week to agree on the modalities with the NCDC and the PTF.” Apart from consultations with the NCDC and the PTF, there are other meetings with the officials of the World Health Organisations (WHO) and the GAVI Foundation. The GAVI Alliance (formerly the Global Alliance for Vaccines and Immunisation) is a global health partnership of public and private sector organiSations dedicated to “immunisation for all”. It was gathered that among other issues in the consultations are the technical sessions on the distribution of the vaccines and the implementation of the executive other on the wearing of facemasks in the states and public space. When THISDAY asked

The Ogun State Government yesterday ordered the suspension of the Commissioner for the Environment, Mr. Abiodun Abudu-Balogun, over rape accusation from a teenager. A government statement said he would remain suspended from office pending the conclusion of an independent investigation into an allegation of sexual harassment of 16-year old Barakat Mayowa Melojuekun. In the statement issued in Abeokuta, the Secretary to the State Government, Mr. Tokunbo Talabi, said the suspension of the commissioner was to enable him cooperate fully with the independent investigation being carried out by the Police. “Whilst taking cognisance of the principle of a suspect being presumed innocent until proven guilty and the public statement issued by Hon. Abudu-Balogun denying the allegation, as a government with zero tolerance for

gender-based violence and indeed any criminality, the suspension is a further demonstration of the commitment of Prince Dapo Abiodun Administration to fairness, equity, justice and the rule of law, no matter who is involved,” the statement explained. The government assured the public that it would do everything to ensure that justice is served in the rivetting scandal allegation. In the meantime, the suspended commissioner had been directed to hand over to the Permanent Secretary, Ministry of Environment. At the weekend, the Ogun State Police Command summoned the ex-commissioner to come defend himself against the accusations by little Barakat that the former had attempted to rape her. Police sources also told THISDAY that no fewer than three key witnesses had testified in the rape case. All attempts to reach the embattled commissioner on phone were futile, as his cell phone had been switched off.

Former UNILAG VC, Ibidapo-Obe, Dies Former University of Lagos ViceChancellor, Professor Oyewusi Ibidapo Obe, is dead Unconfirmed sourced informed THISDAY last night that the former university don died of COVID-19 complications. The former President of the Nigeria Academy of Science, attended both Ilesa Grammar School and Igbobi College from 1962–1968 and the University of Lagos from 196-1971. He was awarded a Bachelor of Science B.Sc.(Hons) degree in

Mathematics in the First Class Division by the University of Lagos, Nigeria in 1971; a Master of Mathematics (M. Maths) degree in Applied Mathematics with a minor in Computer Science in 1973 and a Doctor of Philosophy (PhD) in Civil Engineering with specialisation in Applied Mechanics/Systems in 1976 both from the University of Waterloo, Ontario, Canada. He was born on July 5 1949; married to Olusola and has four children.

of movement, the source said, “it depends on the information the NCDC and

the PTF would release to the governors at their meeting. But one thing is

sure, the second wave of the pandemic is real and worrisome.”

FIRST SUNDAY SERVICE...

L-R: The Prelate Chaplain, Methodist Church Nigeria (MCN), Very Rev. Jeremiah Shittu; Secretary of the Conference, Rt. Rev. Michael Akinwale; Prelate, His Eminence, Chukwuemeka Uche; and Bishop of Tinubu, Rt. Rev. Omotayo Babalola, during the first Sunday service in the New Year at the MCN in Lagos ...yesterday

Kaduna Confirms 18 Killed in Clash With Bandits in Giwa LG John Shiklam in Kaduna

Abiodun Suspends Commissioner over Alleged Sexual Harassment Kayode Fasua in Abeokuta

whether the consultation would include interstate lockdown or restriction

Eighteen people have been killed following an attack and counter-attack between bandits and residents of Kaya village, Fatika District in Giwa Local Government Area of Kaduna State. Shops and vehicles were also set ablaze during the incident, which occurred on Saturday night. The state Commissioner for Internal Security and Home Affairs, Mr. Samuel Aruwan, confirmed the incident in a statement yesterday in Kaduna. Aruwan said military and other security agencies informed the state government that lives were lost in a series of killings and counter-killings in the local government. “The killings and counter-

killings occurred at Kaya community, which shares a boundary with Hayin Kaura village of Dandume Local Government Area of Katsina State,” he said. Aruwan explained that security briefings indicated that the violence began on January 1, 2021 when armed bandits attacked Kaya town and kidnapped some locals, including two married women. “The bandits were fiercely pursued by a combined team of volunteers from Kaya and from Hayin Kaura village of Katsina State, in keeping with their practice of supporting security efforts in their respective communities. “The bandits in the course of the confrontation kidnapped

and killed one Shamsu Umar, a leader of the Kaya volunteers. “His corpse was found on the 2nd of January, 2021 after a search operation in the forest. “On the same day of the recovery of the corpse, unidentified persons came across some herders, and in apparent retaliation for the killing of Shamsu Umar, killed four of them, listed as follows: Musa Lawal, Ibrahim Sani, Haruna Umar and Idi Isah. “At around 6:30p.m yesterday (Saturday), January 2, 2021, over 50 motorcycles, each carrying three-men wielding AK-47 rifles, stormed Kaya town in Giwa LGA and began shooting sporadically,” he added. He said soldiers and policemen were deployed in the location, with an air support

from the Nigerian Air Force, to deal with the bandits. Aruwan said 11 residents were killed while three unidentified corpses, said to be drivers in transit, from Funtua, Katsina State, were also recovered. Aruwan added that nine people who sustained injuries from gunshots were taken to the Ahmadu Bello University Teaching Hospital, Shika-Zaria. The statement said, after the attack, security agencies confirmed that shops, five vehicles and some motorcycles were burnt by the hoodlums. He said the state Governor, Mallam Nasir el-Rufai, who was involved in coordinating responses to the attack on Saturday night, had condoled with the bereaved families.

Fresh Strike Looms in Universities as Technologists Issue 14-day Ultimatum to FG Protests disparity in sharing of N40bn earned allowance Onyebuchi Ezigbo in Abuja Hope of a peaceful reopening of universities after the suspension of strike by lecturers may be dashed following a 14-day strike notice issued by the National Association of Academic Technologists (NAAT) to the federal government. The university workers are protesting the alleged disparity in the sharing of the N40 billion earned allowances released to the four university-based unions. They are also demanding that the government release 50 per cent of the N71 billion accrued allowances being owed members of the union from the 2009 agreement reached between the government and the union. NAAT President, Ibeji Nwokoma, told journalists in Abuja that the association had written to the Minister of Labour and Employment informing him of its planned industrial action. According to Nwokoma, “We

have written to the government that NAAT as a body ought to have been given a specified percentage of the N40billion. You must define it. You can’t just say ASUU has 75 per cent and others have 25 per cent. Let us know the specific percentage you are giving to NAAT as a union. “In the Memorandum of Understanding (MoU) we entered with the government on November 18, 2020, in item number 2b, we demanded that in sharing of the N40billion released, the government should clearly define the percentage of allocation to each union, and the government agreed to the genuineness of our demands, and said the National Universities Commission (NUC) and the Federal Ministry of Education would work it out in conjunction with the union. And what they have done has negated completely the spirit of that MoU.

“We have given the government an ultimatum of 14 days. We wrote to the government on December 30. And we have given the government 14 working days, and if at the end of the 14 working days, our demands are not met, we shall resume our suspended strike. Definitely we will close down the schools. If anybody thinks that ASUU has called off its strike and that schools will reopen, then let such person dare us. Let us know how effective or how possible it is for schools to reopen when technologists are on strike. “If the government in its own wisdom has said ASUU should take N30 billion from the N40 billion released, it is not the business of my union. But we have also told the government that the arrears accruable to my union since 2009 to 2020 is N71billion, and we have demanded 50 percent

of that amount and also given the government an ultimatum of 14 days, and if the government fails to do that, we will call out our members to resume strike. Nobody has the monopoly of closing or opening of universities with strike, and we have said that repeatedly.” He explained that by now, the 2009 ought to have been renegotiated, but lamented that the agreement has not been fully implemented, adding: “It was supposed to have been renegotiated after three years, but since 2009, it has not been renegotiated.” The NAAT president further stated that the laboratories and studios in universities are in terrible condition as government has abandoned technology, demanding that the government should release N100 billion for the rehabilitation of the laboratories.

MONDAY JANUARY 4, 2021 • T H I S D AY ADVERTORIAL

T H I S D AY ˾ ˜ Ͳ˜ 2021

COMMENT

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

OIL PRICE PROJECTIONS: 2021 OUTLOOK Glenn Ubohmhe predicts better times ahead

ust like oil exploration, crude oil price forecasting is a difficult terrain. It is not an exact science, and therefore a tricky exercise to undertake as unforeseen factors could and always upend the best of projections. But to have a good shot at it is definitely a bliss. While the unforeseen may yet render its invisible hand to change the course of events, short term oil price outlook based on my analysis, point to a price trend of up to US$60/bbl in 2021. The above conclusion is not without underlying assumptions but before that, a brief review of similar enterprise by the writer in the past, especially before major swings in oil prices, is perhaps necessary. The year 2014 offered the privilege of advising a consortium of lenders to investors in the Nigerian power sector to convert their dollar-denominated loan to naira, based on oil price projection and what I saw then as impending significant devaluation of the domestic currency. In April 2020 during the peak of the Coronavirus pandemic, another bold projection was made by the writer on the price of oil at year end – it was a contrarian view and of course not a popular one. In the tale of the lenders and their dollar facilities, spirited efforts were made in several lenders’ meetings to drive home the point with sufficient clarity on the urgency of the conversion. Again, at the departure lounge of Osubi Airport in Warri, Delta State, en-route Lagos from Ughelli in one of the site visits, I shared a detailed empirical and qualitative analysis with crude oil price and exchange rate scenarios to further buttress my position. The analysis was termed wild and impossible by representatives of a regional multilateral infrastructure finance institution (one of the lenders) based in Lagos and an Investment Bank that acted as lead arranger in the syndication. My views were documented in a newspaper publication for future reference. r-FTT UIBO B ZFBS MBUFS BMM IFMM CSPLF MPPTF UIF SJTL DSZTUBMJ[FE global oil prices plunged with severe dollar illiquidity in Nigeria, exchange rate tumbled, loan portfolio ballooned overnight causing systemic illiquidity in the power and financial sectors and the economy went into a tailspin. Suffice to say that the gift of clairvoyance was not required to see the imprints of general macroeconomic factors that led to the collapse of power sector reforms in Argentina in the 1990s were about to upend power sector reforms in Nigeria. The Nigerian power sector is still reeling from that singular event till date. Again, sharing strategic insights on oil price outlook based on a detailed modelling of key variables that could upturn the negative price swing in the peak of the COVID-19 pandemic in April 2020, I projected 50 dollars per barrel oil price by December 2020 in an article published by BusinessDay titled Oil price recovery and the American paradox. As you would generally expect in a moment of unprecedented global crisis, the dominant view by energy economists, policymakers and analysts at that time was, understandably, widely at variance with such a prognosis of sharp recovery amidst key uncertainties in the global economy with WTI prices trending in low and negative territories. In fact, a popular newspaper columnist posited that the world may never see a US$50/bbl oil price in our lifetime again. I immediately interjected that the world may indeed see $50/bbl in December 2020. I was happy to send prices for the different crude oil

$60/BBL OF OIL PRICE IS VERY MUCH WITHIN REACH IN 2021, BUT WILL THE GLOBAL ECONOMY BE TOO FRAGILE TO SUPPORT A US$60/BBL OIL PRICE?

streams to him in the first week of December 2020. What is clear is that the upward pressure on the demand for oil and the upsurge in crude oil prices in recent weeks reflect its disproportionate share for transportation use in the consumption mix. Therefore, the ease of restrictions after the Great Lockdown and the spike in fuel consumption for transportation coupled with other factors are some of the key drivers of the recent price recovery. To put some perspective around the relationship, road transportation and aviation accounted for about 58% of oil consumed in the OECD countries while share of petrochemicals stood at 15%. The share of oil consumption for transportation in the sectoral distribution in the United States is much higher at 68%, according to data from the US Energy Information Administration (EIA). Energy transition policies and EVs in particular are not expected to alter oil consumption by the transportation sector in the next one year in the writer’s view. In the United States, monthly petroleum products supply which plummeted to a 37-year historic low of 14,691 Mbbl/d (thousand barrels per day) in the month of April 2020 (far worse in per capita terms) is on an uptick towards the pre-pandemic levels based on 19,178 Mbbl/d supplies posted in November 2020 compared with 20,736 Mbbl/d in November 2019. Air travel which tanked during the lockdown has seen steep growth (albeit, still far below the pre-Covid 19 figures) in the number of travelers in the United States, Canada, Mexico and across the globe based on industry sources. What then is the outlook for crude oil prices in 2021? Let’s be clear, the global economy is not out of the woods yet. There are still a number of chokepoints and tremendous uncertainties to navigate-through to full recovery especially against the backdrop of the second wave of lockdown in some countries. While the prospects for higher levels of oil consumption in 2021 looks very likely, public health concerns over spike in coronavirus infections and new strains in major energy demand centres across the globe pose significant risks and weigh-in heavily on short term prospects. Therefore, a number of key factors will determine price trajectory in the new year - global economy and international trade outlook, extent and severity of the second wave of lockdown in some countries, broad access to the coronavirus vaccine across the globe and its efficacy in containing new variants. r0O UIF TVQQMZ TJEF UIFSF JT UIF QPUFOUJBM SJTL PG QSJDF volatility on the back of investment curtailment and upstream production shut-in in 2020. According to reports, investment in global oil and gas supply dipped by one-third in 2020 when compared with 2019. Though the timing of the lag effect of investment shortfall in 2020 on supply is yet unknown, demandsupply imbalance spawned by a growing global economy and constrained supply could portend oil price spike in 2021 or perhaps a little farther. Much will also depend on the ability of the OPEC members and Russia to maintain fidelity to production output pact in 2021. In the final analysis, $60/bbl of oil price is very much within reach in 2021 but will the global economy be too fragile to support a US$60/bbl oil price? Time will tell. Glenn (FCA, FCTI) wrote from Lagos

THE DEFINING MOMENTS OF 2020 Despite the challenging times, Lagos State did not lose focus, writes

or Lagos State, the past year was striking in diverse ways. For one, it was a year when the state became the nation’s epicenter of two striking events. The first is the COVID-19 pandemic, while the second is the EndSars protests. Without a doubt, the two events have far-reaching consequences on the state’s 2020 outlook. As it happened across the globe, the COVID-19 pandemic disrupted socio-economic activities at ‘Centre of Excellence’, bringing almost every sector to a halt. The tourism, hospitality, informal and education sectors were, perhaps, the most affected, as jobs were lost and sources of livelihood unsettled. Also, markets, worship centres, business hubs and recreation centres were shut down for a season. For an ever bustling metropolis like Lagos, it was a most trying period. However, being the resilient city-state that it is, Lagos was able to decisively and effectively manage the COVID-pandemic and its attendant challenges. The proof of this is in the recommendations it got from across the globe, applauding the state government’s management of the pandemic. Unfortunately, as the state was gradually coming out of the COVID-19 scare, it was faced with yet another challenge of equal magnitudethe #EndSars protests, which initially began as a peaceful dissent against police brutality. r*O TQJUF PG UIF USJBMT BOE UVSCVMFODF GPS Lagos, 2020 is certainly not totally defined by the COVID-19 pandemic and the EndSars violence. Concrete moves were made to implement the Sanwo-Olu administration’s T.H.E.M.E.S (acronyms for Traffic Management and Transportation, Health and Environment, Education and Technology, Making Lagos a 21ST Economy, Entertainment and Tourism and Governance and Security) Developmental Agenda. r5IF USBOTQPSUBUJPO TFDUPS JO QBSUJDVMBS received considerable attention in 2020. Early in the year, eight new ferries were commissioned

by Governor Sanwo-Olu to enhance water transportation. r"MTP àWF NBKPS SPVOEBCPVUT BU "MMFO Lekki 1st/2nd, Ikotun, and Maryland were redeveloped to meet current travelling reality. Equally, the Oshodi-Abule-Egba BRT Corridor was commissioned to give commuters along the axis a pleasant motoring experience. Similarly, the Iru network of roads at Victoria Island, a PPP project done in conjunction with Access Bank Plc, was commissioned for public use, while the Pen Cinema Bridge has also reached over 90% completion stage and it is due for commissioning by February 2021. The reconstruction of the Lekki-Epe Expressway was also flagged-off, while an unprecedented programme aimed at bringing development to the grassroots equally berthed with the inauguration of 377 grassroots projects across all wards in the state by Mr. Governor. This is just to mention a few of the several road projects initiated by the government in 2020. Also, the investment of the government in up scaling infrastructure in the education sector got a crucial boost with completed projects such as 18 Classroom Blocks at Muslim Junior College, Egbe, 18 classroom blocks at Maya Secondary School, Ikorodu,18 classroom blocks at Eva Adelaja Junior Secondary School, Bariga, block of 20 classrooms at Bashua Military School Primary School, Shomolu, 13 classrooms at Saviour Primary School, Ifako-Ijaiye LGA, block of 20 classrooms at Ayanleye Memorial Primary School, Ifako-Ijaiye LGA and block of six classrooms at Ansar Ur Deen, Ibonwon, Epe, just to mention but a few. r3FNBSLBCMF JOSPBE IBT BMTP CFFO NBEF in the training of teachers for 21st century competence. Through the Eko Excel training initiative, 3000 primary schools teachers have CFFO USBJOFE PO IPX UP DPNQFUFOUMZ VUJMJ[F technology in teaching. And the results have CFFO BNB[JOH .PSF QVQJMT OPX SFHJTUFS JO PVS public primary schools, while attendance rate

has remarkably improved. r*O PSEFS UP CSJEHF UIF IPVTJOH EFàDJU JO UIF state, major housing projects were completed and commissioned in 2020. These are the Idale 252 units of two-bedroom bungalows in Idale, Badagry, Courtland Villas, Behind Alhaji Femi Okunnu Estate, Igbohushu, Lekki with 120 units of four-bedroom Maisonettes and BQs Lekki Apartments, Ikate-Eleguishi, Lekki. The Igbogbo scheme, with 360 home units comprising 120 1-bedroom, is equally ready for commissioning. Similarly, food security was enhanced through fresh initiatives such as the Productivity Enhancement and Livelihood Improvement Support Project (APPEALS), which is designed to build capacities of actors in the rice, aquaculture and poultry value chains towards large scale production and processing of rice, eggs, poultry and fish in the state. r5IF DBQBDJUZ PG GBSNFST XBT TUSFOHUIFOFE through the Lagos Agripreneurship Programme (LAP), Sea Food Festival and Eko City Farmer Food Market, improved rice cultivation, milling and bagging; poultry production and processing; fish and seafood production, education and provision of extension services to farmers. r*O B CJE UP SFWJUBMJ[F UIF QSJNBSZ IFBMUIDBSF system, a comprehensive assessment of all 329 Primary Healthcare Centres (PHCs) in the state was conducted to determine their level of functionality and geographical positioning system to identify gaps for service improvement efforts. This was done in collaboration with health assist and pharmacies. 129 PHCs benefited from improved access to essential drugs through the Save One Million Lives intervention programme. Similarly, 65 PHCs were provided with seed stock of essential drugs by PATHS2, 100% availability of essential medicines and an average of 85% growth in the sustainable drug revolving fund (SDRF) scheme. The government also trained PHC workers on emergency preparedness and infection

prevention control protocols as well as the implementation of the LGA Emergency Operations center. Maintenance of law and order, tourism, advocacy against gender violence, youth and women empowerment equally received a major impetus for growth in 2020. Thus, despite the peculiar challenges of the year, the state government was able record NJMFTUPOF BUUBJONFOUT BJNFE BU DPODSFUJ[JOH UIF ‘Greater Lagos’ vision. With the 2021 ‘Budget of Rekindled Hope’, 2021 no doubt offers better prospects. r5IF CVEHFU XBT DBSFGVMMZ EFTJHOFE UP meet the aspirations of our teeming youth by focusing on sectors with job creating potential like agriculture, construction, technology and security. r5IF BJN JT UP JNQSPWF UIF FDPOPNJD conditions and social safety needed for the youth and all hardworking Lagosians to flourish. Resources will be committed to sectors that need to grow for the youth to become self-reliant and economically empowered. A pivotal crux of the 2021 budget will be the promotion of an entrepreneurial culture among the youth. In light of this, micro, small and medium enterprises will be strengthened because their activities help to facilitate socioeconomic advancement. r0OF EJTUJODU GFBUVSF PG UIF CVEHFU FTUJNBUF is the high ratio of capital to recurrent expenditure. About N704 billion, representing 61 per cent of the total budget, is earmarked for capital expenditure in the proposed 2021spending. r5IJT JT DPOTJTUFOU XJUI UIF 4BOXP 0MV administration’s move to keep the cost of governance low in the face of dwindling revenues and general inflation occasioned by multiple factors. Ogunbiyi is Deputy Director (Public Affairs) Ministry of Information and Strategy, Alausa, Ikeja.

T H I S D AY ˾ ˜ Ͳ˜ 2021

EDITORIAL

STILL ON THE BORROWING BINGE The spate of borrowing is excessive

rom the World Bank to the African Development Bank, to the Islamic Development Bank and Chinese Exim, Nigeria is becoming one of their biggest customers. But what we are piling up in these institutions are not assets but humongous debts. In the earlier 2021 spending plan that has been jacked up by the National Assembly, a sum of N3.12 trillion was proposed to service debt in 2021, representing a 9.09% rise when compared to N2.86 trillion approved for the year just ended. That figure is now expected to hit double digits THE GOVERNMENT given dwindling resources amid SHOULD CONSIDER THE growing expendiCOUNSEL OF CRITICAL tures. STAKEHOLDERS ON THE In a recent NEED TO BUILD FISCAL presentation to the Senate CommitBUFFERS AGAINST THE GROWING IMPACT OF THE tee on local and foreign debts, the COUNTRY’S HIGH DEBT Minister of FiPROFILE nance, Budget and National Planning, Zainab Ahmed projected that the country’s total public debt will hit N38tn by December this year. The federal government of course remains fixated about debt to GDP ratio, even when there are no repayment plans in place. Meanwhile, the security challenge is making productive activities difficult in most theatres across the country. We concede that borrowing may be inevitable, especially at a period like this. But there are serious concerns at the rate these debts are being piled up. Aside the fact that the funds are not being deployed into projects that generate income, borrowing should not be done in such a way to mortgage the future of the country. Experts within Nigeria and multilateral lenders have continued to advise against increased borrowing and mounting debt, amid plummeting revenues. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has in recent times sounded note of caution that the federal

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government should not hide under the mantra of debt-to-gross domestic product (GDP) ratio for debt accumulation.In its 2020 macroeconomic outlook, the Nigeria Economic Summit Group (NESG) also stated that “Nigeria’s mounting debt profile is a major concern despite the country having about $900 billion worth of dead capital in properties and agricultural lands (PwC Nigeria, 2019).” While we understand the funding challenge that has now been compounded by COVID-19 and collapsed oil prices, the federal government must understand that we cannot borrow our way into prosperity. To tackle the revenue challenge, the NESG has reaffirmed the recommendation of several other stakeholders that the federal government should consider unlocking finance and economic growth by the commercialisation or privatisation of many dead capital/assets. They include the National Arts Theatre; the national stadia in Lagos and Abuja; Tafawa Balewa Square, Lagos; and the Federal Nursing Hospital, Ikoyi, Lagos, and several others. We hope the federal government will consider the counsel of critical stakeholders in both the public and private sectors on the need to build fiscal buffers against the growing impact of the country’s high debt profile. Sadly, there are bigger challenges in many of the 36 states. The current governors on assumption of office complained of inheriting heavily indebted states on account of funds taken from the capital market by their predecessors. But many of these governors have also gone to secure their own loans which they also expect future governments in their states to repay. Aside the fact that many of the states can hardly meet their routine obligations after servicing their monthly debts, most of the loans were not deployed to tangible projects. While it is understandable that the federal government would borrow to bridge the huge infrastructural gap in the country, there are growing concerns about repayments. It is therefore incumbent on the authorities in Abuja and the 36 states to reflect on the implications of the debt burden on the future of our country.

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.

IN PRAISE OF ABDULLAHI HALIMS

olitical representation in a liberal democracy such as Nigeria is a straight forward concept: every four years at the national level there is an election where citizens from a defined geographical area, be it at the local or state level, chose from a range of candidates to represent them. Agreed that both theoretically and in practice, it is more complicated but the achievements of Hon. Abdullahi Ibrahim Halims in so short a time at the House of Representatives have made the argument more complicated. While representative democracy is poetically defined as a government of the people, for the people and by the people, Halims is the embodiment of what the people’s representative should be. These complications we talk about actually relate to the actors rather than the institutions. Halims sees representation as a set of procedures or rules that selects people to formulate or legislate in the public interest in an

accountable way: and that is what he is doing in the house. Halims is one reps who believes that representation is basically the accountable aggregation of interests and that basic interest is that of the people. The constitution and standing orders of the house of representatives as it stands today cirumscribe the functions and powers of the legislature and the actors within it. The recent motion introduced and read in the house by Halims on the urgent need by the federal government to resume the completion of the Bagana/ Guto bridge that links Kogi State to Nasarawa State which was unanimously approved and supported by the whole house is typically Halims in action. The expectations and duties of Halims as the representative of the Ankpa/ Omala/ Olamaboro people are extensive, encompassing several roles that is full time job in itself. Upon election to the house, Halims developed approaches to his job that serves wide varieties of roles and responsibilities for his people.

Many of his motions are developmental-oriented. He sees constituency projects as a quick avenue to attract federal projects like the approved road construction link to his constituency. If not for this motion and projects, majority of federal constituencies would not have projects due to the lopsided nature of projects that gets itself into the budget. Constituency projects are not peculiar to Nigeria alone and Halims is an avid supporter of this concept and he believes it should be supported rather than scrapped. He believes constituency projects in Nigeria should be institutionalized because they are working for his people. Thus, he is a strong advocate for an institutional framework for the implementation of the constituency projects just like in Kenya. It is instructive to note by way of educating the general public that Halims only supports the idea that house members only identify the needs of his constituents and recommends same to the executive during budgeting. The proposed road by

motion approved for his constituents is not going to be handled by Halims but by contractors assigned and approved by the federal execute council. Though many Nigerians do not understand the work of the legislature as their impact are not mainly direct, but since Halims joined the class of elected Nigerian about a year and half ago to provide quality representation that would enhance the economic and social life of his people, many would attest that his impacts have been direct. Halims has become phenomenal and made it a duty to sponsor bills and motions, quality motions for that matter. Motions that have impacted his people’s quality of life. This latest motion sponsored by him on the completion of the Bagana/ Guto bridge project will, when completed, provide positive impact on his constituents and indeed other Nigerians. Halims is one among the very few lawmakers who shaped the eighth National Assembly. Musa Musawa, Abuja

MONDAY JANUARY 4, 2021 •T H I S D AY

T H I S D AY ˾ MONDAY JANUARY 4, 2021

POLITICS

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

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

Why South-east Governors Are Jittery Over Eastern Security Network David-Chyddy Eleke examines the concern of South-east governors on the establishment of Eastern Security Network proposed by the leader of the Indigenous People of Biafra, Nnamdi Kanu

Eastern Security Network (ESN) personnel

ot long ago, the South western region of Nigeria rolled out the drums to launch the establishment of a regional security outfit for the people of the South west zone of Nigeria named Amotekun. Amotekun is Yoruba word for Leopard. The inauguration ceremony was a huge one as the South western governors all attended, each attired in outfits designed to look like the dotted skin of a leopard, as a depiction of the name of the security outfit being launched. Prior to that, the entire country had been set on a discourse over the right of each region to establish its own security outfit. The discourse had pitched the federal government directly against the governments of the South western states, as the federal government had insisted that the state governors had no right to set up a security outfit, especially when the police, controlled by the federal government is there to protect all. The South west governors also stuck to their gun, insisting that the insecurity in the country was a major reason for the establishment. Before then, there had been incidences of kidnap and killing of farmers and travelers, straight from their farms and also on the highway. Two of these incidences had involved elder statesman, Olu Falae, and daughter of Yoruba leader, Pa ReubenFasoranti; who were abducted from his farm and, killed while on a journey, respectively, by persons suspected to be Fulani herdsmen. In the end, the governors won and went on to launch Amotekun. They didn’t just launch it, there was a huge show about the facilities jointly procured by the governments of the states in the region for the outfit. Brand new Hilux vans painted in red colour, uniforms for the operatives of the outfit, and also arms which they displayed during a parade at the inauguration of the group. All these depicted a people who were hell bent on ensuring security for their own people as the federal government-controlled police had failed to secure them. It was believed that with the success attained by the region, the South east that

are also not better off in terms of security would lunch theirs. Some influential people told journalists that plans were still in the offing to come up with one. On one occasion, while addressing journalists, a diplomat, former secretary to government of Anambra State and Peoples Democratic Party candidate for the 2017 governorship election in Anambra, Mr Oseloka Obaze gave a hint of what lay ahead as regards the launching of a regional security outfit for the South East. He said plan to float the outfit was being speedily worked on, and that a committee was working round the clock to ensure that arrangements were put in place for the inauguration and commencement of the outfit. He said that the committee was shopping for a name for the outfit, and that soon, the Southeast Governors will announce the name of the outfit. A source who spoke to THISDAY then however revealed that several names were already on the table to be picked for the outfit, and that deliberations were on going.

Some of the names given by the source who sought not to be named include; Agu (Tiger), Odum (lion), Mkpakana (trap) and many others. Asked why the committee was not going for a name like Ogbunigwe; the name for the locally manufactured machine gun used by Biafra forces during the civil war, the source said the name already had an origin that is deeply rooted in the secession bid of the Igbo, and using it may send the wrong signal. The source added that, “The creation of a regional security outfit, especially among the zones in the South has become very imperative. It will give the people the power to secure their people without waiting for the police or military, who will always foot-drag after every incidence of insecurity in the zone.” Close to a year after a meeting of the South east governors in Enugu gave the hint that a regional security outfit was on the way, no mention has been made of it any longer. This may have led the leader of the Indigenous People of Biafra, IPOB, Mazi

The issue is bigger and deeper than it seems. The agitation is developing twists and turns, simply because the authorities stubbornly refused to engage the agitators earlier than now. The Federal government preferred military operations like Python dance etc., which only deepened the schism, the resolve, and the anger of the agitators. That is the truth. Everybody knew this day would come, we only pray the situation is handled with utmost care. It is a delicate and sensitive situation. It could lead to something bigger and dangerous. Had the government engaged the agitators in a dialogue before now, we would never have gotten to this point. But it seems government listened to those who argued that engaging the agitators would make them relevant thereby discrediting the elders

Nnamdi Kanu to launch Eastern Security Network, a regional security outfit that would protect Ndigbo from the ravages of insecurity, especially from killer herdsmen. Announcing the launch of the outfit, Kanu said the failure of South east governors to secure the lives and property of Igbo people led to the formation of the Eastern Security Network. In a statement Kanu, said the Southeast and South south regions have resolved to defend their territories from terrorism and extra-judicial killings. He accused the governors of sleeping while external forces killed their people in Biafra territory. He warned that the people of the regions would not allow what happened at Oyigbo in Rivers State to repeat itself. “For years, our mothers have not been able to go to their farms for fear of being raped and cut into pieces. Our invaders, some of them from Sene-Gambia are in our villages raping and killing people at will. The Delta State Government has inaugurated Operation Delta Hawk, a security outfit in the classic fragmented approach of the South east to issues of national importance. The West has made effort to combat terrorism in their territory through Amotekun and even Miyetti Allah had the guts to float a vigilante outfit that has spread to every nook and cranny of the country with the support of the Presidency and northern governors,” Kanu said. He wondered why governors of the South east have allowed themselves to become fragmented for fear of displeasing their masters, adding that the Eastern Security Network was modeled after Amotekun in the West and Miyetti Allah vigilante group in the North to protect the South south and South east from bandits and terrorists. “We have allowed ourselves to become willing tools of the caliphate in our destruction. Unfortunately too, some Igbo people have been cajoled and intimidated to the point where they now deny their own identity. We present our first and last line of defence, the Eastern Security Network to end years of terrorism in our land,” he added. His announcement of the launch of

T H I S D AY ˾ MONDAY JANUARY 4, 2021

MONDAY DISCOURSE

Ugochukwu-Uko

Obaze

Kanu

Umahi

the group has set tongues wagging, but what is most interesting is that the tongues wagging against the launch are not from the North, the South west or even the presidency. The tongues are those of Ndigbo. First to fire a dirty salvo on IPOB was the South East Governors Forum. The group speaking through the Chairman, Engr David Umahi who is also the Ebonyi State governor described the outfit as laughable. Umahi, in a statement, said: “Our region remains the safest, and nobody can deny this. And so, our brother said he had formed a security outfit for the South east. It is very laughable and should be ignored. I commend the South east governors very highly. It is only the South east that the leaders are being criticized openly. I want them to ignore the side distractions.” Another group, a pan-Ohanaeze Ndigbo socio-political organisation, Conference of Igbo Elders for Peace and Development, in their condemnation of the ESN acknowledged that the zone needs a security outfit to secure her people from banditry, but insisted that IPOB was less competent to set up a group for the people of the region, citing it as an outlawed group. It rather encouraged governors of the South east region to establish a security outfit, to curb the rising cases of banditry and kidnapping ravaging the region. National President, Dr. Festus Edochie, and Secretary, Barr Esther Amadi, in a statement disowned the security outfit set up by the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, noting that it is an illegal outfit that would plunge the region into a deeper problem with the Federal Government. Edochie said: “We observe with utmost shock and concern a disturbing video of a group of some misguided youths codenamed Eastern Security Network, bearing arms and circulating on the social media. In the said video, the group which claimed to be operating somewhere in Anambra State carried Ak-47 and other dangerous weapons under the guise of providing security against violent crimes being committed by herdsmen in the region. We condemn this group and its activities in its entirety and call on all South east governors and well-meaning Ndigbo to come out and condemn this act of criminality being sponsored by a self-appointed leader of a proscribed Indigenous People of Biafra, IPOB, Mazi Nnamdi Kanu. “While we recognize perfectly the yearning and desire of every Nigerian today for community policing and self-security due to the insecurity in the country, we insist that it must be done in accordance with the law of the land and by the right people who are legally empowered to do so. No group or individual has the legal right to bear prohibited firearms of that nature without the proper backing of the law. Hence we must all rise in the South east to not only condemn but also distance ourselves from this act without delay. “No doubt, the current security architecture of Nigeria has failed and Nigerians deserve to protect themselves but that must be done within the premise of the law. We are Nigerians and cannot form a parallel security arm that bears prohibited firearms for any reason in our region. It is not in the place of IPOB to organize such

a group armed with automatic weapons, no lawful country or citizen will support that, even the civilian Joint Task Force which is supported by law with members assisting in fighting terrorism in Borno State and other parts of North East don’t use automatic weapons. “In the South West, also Amotekun which is lawfully set up by the authorities in the region does not use automatic firearms. Bearing prohibited firearms under any guise is unacceptable. Only dane guns and pump-action rifles can be licensed in Nigeria. We have restrictions in Nigeria on the use of firearms and nobody is above this law. The obvious gap in our national security notwithstanding, a proscribed organization like IPOB does not have the right to arm a group of young men with automatic weapons in the name of a security network or any nomenclature. It is totally unacceptable and must be resisted by all Ndigbo of goodwill. “We are therefore calling on all the South east governors and businessmen in the region to pull resources together and form a security outfit like Amotekun or civilian JTF backed by law, which can be controlled and be effective. Finally, we wish to call on the South east governors, Ohanaeze Ndigbo and other well-meaning groups to come out to condemn the act of criminality that may spark unrest in the region thus portraying Ndigbo as bad and lawless people,” the group stated. Away from the calls by various groups to disregard Kanu and his security outfit, the IPOB leader has however gained the backing of another group, Igbo Youths Movement. Its President, Elliot Ugochukwu-Uko blamed government for the seeming miles the agitation for a sovereign state is gaining among South easterners. He said instead of addressing the problem of the agitators, the federal government always thinks force can solve the problem. “The issue is bigger and deeper than it seems. The agitation is developing twists and turns, simply because the authorities stubbornly refused to engage the agitators earlier than now. The Federal government preferred military operations like Python dance etc., which only deepened the

schism, the resolve, and the anger of the agitators. That is the truth. Everybody knew this day would come, we only pray the situation is handled with utmost care. It is a delicate and sensitive situation. It could lead to something bigger and dangerous. “Had the government engaged the agitators in a dialogue before now, we would never have gotten to this point. But it seems government listened to those who argued that engaging the agitators would make them relevant thereby discrediting the elders. They forget that governments engaged the Niger Delta agitators. Obasanjo hosted Boyloaf, Ateke Tom, Dokubo, Tompolo and co, both Yar’adua and Jonathan invited them, dialogued with them, and listened to them, later Amnesty deal was struck, elders like Chief Edwin Clark and co, pleaded with the agitators to come out from the creeks and go to Abuja and dialogue with the government. “Government has been begging Boko haram to come to the table, government negotiates with them from time to time to release hostages, government dialogues with killer bandits, Governor Masari poses with bandits in photographs and announces he has entered into a deal with them. Governor el-Rufai tells us he pays Fulani herdsmen in order to beg them to kill no more. Government negotiates, engages and dialogues with everyone except the angry young folks from the East, who say they want out of Nigeria. Government only sends them Python dance, threats, proscription and terrorist tag. They are also killed without qualms. Different approach for different regions. The style of different strokes for different folks, only deepened the resentment and the determination of the agitators. “Another reason is the deception by the South east governors that they will establish a regional security outfit, to check the offensive brigandage of armed Fulani herdsmen, who have left a trail of blood and despair, with their unprovoked attacks that has bewildered everybody, especially with the seeming inability of the authorities to rein them in. The South east governors promised twice and then reneged. Nature abhors a vacuum. The governors raised the hope of the people,

then crashed it. “Had the spineless South east governors kept their promise of guarding and protecting the region from the ceaseless assault of the marauding herdsmen, there would have been no reason for this. So we put the blame at the door of our cowardly governors, who ostensibly placed their vice presidential ambitions over and above the well being of the people of Eastern region. “I bet you rural farmers who have seen hell in the hands of Fulani herdsmen who rape, decapitate, slaughter and burn at will, as if the world is theirs, would be rejoicing over this outfit by the agitators. Government should engage with the agitators, before things get out of hand. The elite and the political class are apprehensive and worried. The youths are asking and looking for how to join, the masses are ambivalent. My take is that government decision not to engage the agitators is simply counterproductive. That is the truth. More disturbing developments will certainly emerge, as long as government refuses to engage them. The whole thing is gradually drifting to a worrisome level,” Ugochukwu-Uko stated. Meanwhile, in the midst of all these, IPOB doesn’t seem perturbed in ensuring that the ESN does the job of protecting the people of the South East. In a recent press release, he chided the South East Governors Forum for asking that it be disregarded saying, “ We condemn in very strong terms, the recent shameful statement credited to Gov. Dave Umahi on behalf of his fellow lilly-livered and coward governors of South east against the newly established Eastern Security Network. Such a cowardly statement is nothing but a shameful display of their irredeemable enslavement and loyalty to their caliphate slave masters who in the first place appointed them Governors. “They only further exposed their emptiness and detachment from the people. At a time when well meaning individuals and groups from the entire Southern Nigeria and Middle Belt are hailing the setting up of ESN, the so-called governors are busy advertising their opposition to the people they claim to be leading. Anyway, they never had the mandate of the people. So, we are not surprised. But our message to the treacherous South-East governors and their South south counterparts is that ‘the train has since left the station’ and can’t reverse it’s cause. It’s pretty too late to have a rethink. The people have got what they long desired, which the cowardly governors failed to give them because of selfish political interest,” Kanu said. Though THISDAY cannot confirm that the group is already operating anywhere in the South east, IPOB insists the group is already at work. In the South west, recent security breaches has put a question mark to the potency of Amotekun, as it was believed that its inauguration will fully bring to an end all criminal activities in the west, especially those associated with killer Fulani herdsmen. In the South east too, even though the governors are not in support, one can tell that the rural dwellers want nothing but security around them to be able to go to their farms without being molested, and only time will tell if IPOB’s ESN holds the ace of security in the zone and would be supported by the ordinary people.

He wondered why governors of the South east have allowed themselves to become fragmented for fear of displeasing their masters, adding that the Eastern Security Network was modeled after Amotekun in the West and Miyetti Allah vigilante group in the North to protect the South south and South east from bandits and terrorists. We have allowed ourselves to become willing tools of the caliphate in our destruction. Unfortunately too, some Igbo people have been cajoled and intimidated to the point where they now deny their own identity. We present our first and last line of defence, the Eastern Security Network to end years of terrorism in our land,” he added

T H I S D AY ˾ MONDAY JANUARY 4, 2021

POLITICS

Why a Sole Administrator is Unacceptable at NDDC Godknows Sotonye weighs in on the musical chairs at the Niger Delta development Commission and condemns the appointment of a Sole Administrator for the agency

Buhari

he justification for the appointment of Mr Effiong Okon Akwa as Sole Administrator of the NDDC is replete with lies, half truths and innuendos. Much of such explanations are at best public relations to put a veneer of rationality on their PR treatise for Mr Effiong Akwa and the Minister of Niger Delta Affairs, Senator Godswill Akpabio. Some of these attempts to promote these patent illegality of appointing a sole administrator for the NDDC in serial violation of the law setting up the commission are condemnable. When the now disbanded Interim Management Committee of the NDDC was first appointed in October 2019, these same hatchet men jumped to pen copious articles both in support of the decision and in praise of the Minister of Niger Delta, Chief Godswill Akpabio, the former Governor of Akwa Ibom State between 2007 and 2015. In one of the instances, just weeks after the IMC was appointed, thwre appeared an article THISDAY Newspaper of November 28, 2019, that read In part, “The IMC will not be bogged down by contract awards, payments of past obligations and politics of employment.” Yet, that is what the IMC did: engage in contract awards, some on behalf of Chief Akpabio, and in financial recklessness and mismanagement. These infractions are well documented in the reports of the National Assembly committees that investigated the IMC for corruption, and in several accounts by whistleblowers. Records from last year’s National Assembly probe of the IMC and the Commission’s account statements with the CBN show that since October 2019 when they were imposed by Akpabio, these NDDC illegal managements have spent about N200 billion on fake contracts and fraudulent payments, under the smokescreen of supervising a forensic audit. Considering the billions of naira the NDDC in the last one year under Akpabio has diverted under the headings ‘strategic communication’ and ‘public relations’, it is not difficult to see why these PR articles that have no substance and do not speak to the issues at the heart of the NDDC are churned out on a regular basis by people on the payroll of Akpabio and his minions in the NDDC. While one concedes to the writers a right to trade with their conscience however they overstep their bounds when they deny the facts and presents an illegality as legal as they have done in recent times and in others previously These writers labour to put a spin on the readings and interpretation of the NDDC Act in their specious attempt to justify the imposition of the sole administrator, Mr Effiong Akwa. One of the article states that, “previous presidents have appointed sole administrators to manage the agency for a period of time pending the composition of a full board by the President.” This is false, as no president before President Buhari appointed sole administrators for the NDDC at any time.

Akpabio

To put the records straight, the first executive director of Finance and Administration of NDDC, Timi Alaibe, who was already confirmed by the Senate, acted as Managing Director in 2002, following the resignation of the pioneer Managing Director, Engineer Godwin Omene, and pending the appointment of another substantive MD in accordance with the provisions of Part 1; Section 5; Subsection 3 of NDDC Act, which states, inter alia, that “where a vacancy occurs in the membership of the Board it shall be filled by the appointment of a successor to hold office for the remainder of the term of office of his predecessor, so however, that the successor shall represent the same interest and shall be appointed by the President subject to the confirmation of the Senate.” Senator Emmanuel Aguariavwodo, was subsequently appointed substantive Managing Director and confirmed by the Senate. Senator Aguariavwodo also resigned his appointment and Timi Alaibe, who was a member of that Governing Board as Executive Director Finance and Administration, stepped in again as Acting Managing Director, pending the appointment of a substantive Managing Director. In both instances, the board was not dissolved and as such an existing executive director acted when the MD resigned his position. Prior to Buhari’s coming to power in 2015, in the absence of a Board duly constituted in line with the NDDC Act, the most senior civil servant in the NDDC took over as Managing Director in acting capacity until a Board was constituted. This principle was briefly honoured by President Buhari in August 2019 upon the sack of the Professor Nelson Brambaifa interim management when the Government asked the most senior Civil servant in the NDDC, Dr Enyia Akwagaga, to act as Managing Director pending the confirmation of the president’s nominees for the substantive Governing Board by the Senate. Surprisingly, rather than allow the confirmed board members to immediately assume office, an illegal IMC was imposed and the board was asked to be on standby. The fact of the matter is that there have been five interim impositions since the inception of the NDDC and all five were made by the Buhari Administration. The first was that of Mrs Semenitari in 2015 after the substantive Governing Board was dissolved. Rather than

allow the most senior civil servant to act pending the composition of a Governing Board, the Administration imposed Semenitari as sole administrator of the NDDC in breach of the NDDC Act, thus denying the nine constituent states of representation in the leadership as provided for in the NDDC Act. The same thing was done when the second illegal imposition was done in the appointment of Professor Nelson Brambaifa in January 2019, and subsequently. The third illegal imposition was that of Ms Joi Nunieh and the first IMC in October 2019, the fourth was that of Prof DK Pondei and the expanded IMC in February 2020, and the fifth is the recent announcement of Mr Effiong Akwa as Interim Sole Administrator. In all the appointments, the law which provides for the representation of the nine of states in the leadership, principle of rotation of principal offices and the confirmation by the Senate, were not followed. Indeed, these writers and their principal Akpabio have shown themselves as shameless liars in their desperate bid to continue the illegality at the NDDC. Sometimes, the authors put on a jurisprudential hat and deliberately misinterpret Section 23 of the NDDC Act, which states that: ‘’Subject to the provisions of this Act, the President, Commander-in-Chief of the Armed Forces may give to the commission directives of a general nature or relating generally to matters of policy with regards to the performance by the commission of its functions, and it shall be the duty of the commission to comply with the directives’’. In their warped convoluted thinking, this provision means a broad mandate that empowers the president to appoint anyone he desires without following the provisions of Section 2 of the NDDC Act on the composition of its Governing Board. What the NDDC Act provides for is that while the president may appoint or dissolve a Board, the law is specific on the management succession. The president can only nominate persons who must be confirmed by the Senate before they can lead the NDDC. The NDDC Act does not provide for the president to break the law under whatever guise. While the illegality of Mr Effiong Akwa’s imposition subsists, the whole lie that enabled this and the whole adhoc interim managements by Akpabio, which is the desire to conduct a

Given his previous role in the NDDC as Special Assistant on Finance to a former MD (Bassey Dan-Abia), if the idea is to supervise a credible forensic audit from its inception to 2019, which also covers the period of the Dan-Abia regime in NDDC (2013-2015), then Mr Effiong Akwa clearly cannot be the right person to supervise the forensic audit of the NDDC. This is what Etim Etim does not address in his PR sophistry

credible forensic audit without undue influence is patently false in the case of Mr Effiong Akwa. It has been proven, and unwittingly confirmed that Mr Effiong Akwa has been deep in the rot of the NDDC before now. He was an appointee of Chief Akpabio, while he the minister was Governor of Akwa Ibom State and is a previous appointee in the NDDC as well between 2013 and 2015. It is confirmed that, Mr Effiong Akwa was appointed by Akpabio and served as General Manager of the state-owned mortgage bank, Akwa Savings and Loans Limited, when Akpabio was Akwa Ibom State governor between 2007 and 2015. In 2013, Mr Effiong Akwa was sent by then Governor Akpabio to Bassey DanAbia, Managing Director of NDDC as Special Assistant Finance to Dan-Abia as NDDC MD. Dan-Abia was nominated by then Governor Akpabio to be MD of NDDC between 2013 and 2015, from his position as a commissioner in his cabinet in Akwa Ibom State. Given his previous role in the NDDC as Special Assistant on Finance to a former MD (Bassey Dan-Abia), if the idea is to supervise a credible forensic audit from its inception to 2019, which also covers the period of the Dan-Abia regime in NDDC (2013-2015), then Mr Effiong Akwa clearly cannot be the right person to supervise the forensic audit of the NDDC. This is what these writers do not address in their PR sophistry. These propaganda will not change the facts of the situation as aptly captured by Ledum Mitee in a recent interview where he stated that: “This administration is the first to shun setting up of a board for NDDC. Instead it has been run by one ad-hoc interim management outfit to the other and even now the supervising minister and the sole administrator are from the same state for an organisation catering for nine diverse states. Never before has our collective intelligence been so assaulted.” In the words of Eric Omare, the immediate past president of Ijaw Youth Council: “Everything is wrong with the way and manner the Buhari administration has managed the NDDC. But the thing that is peculiar to the Buhari administration is that those in charge of Aso Rock have refused to allow the NDDC operate according to the law. Under this administration, the NDDC management is now synonymous with illegality and impunity. NDDC under Buhari is corruption personified and this is unfortunate considering the administration’s claim to be fighting corruption. What is happening in practice with the NDDC and even the Presidential Amnesty Programme is that the corrupt cabal around Buhari has hijacked these agencies in collaboration with their allies from Niger Delta. They from time to time appoint someone in acting or interim basis and share the allocations to these agencies to themselves without any benefit to the people of Niger Delta who ought to be the beneficiaries.” NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08038901925

Potpourri of Expectations, Goals for 2021 Mary Nnah, Rebecca Ejifoma, Chiamaka Ozulumba, and Oluwabunmi Fache, who sampled the opinion of some Nigerians, write that aside their personal goals, their expectations and aspirations for 2021 are for government to provide infrastructural development, tighter security, basic amenities, as well as create better business environment for all to thrive in, especially with the economic slump occasioned by the COVID-19 pandemic

Pastor Eunice Iferi Chukwuemeka

Pastor Olaonipekun Kolawole

Dr. James Onyeashie

Damilola Makindipe, CEO, Milolar Store

Pastor Tope Joseph Raphael

Barrister Silas Udoh

Elder Francis Osaghae, Managing Director, Feni O Ventures Limited

Yetty Ogunnubi

Mr Okorji Uchenna Oluwatobi, Entrepreneur

Miss Agnes Eyere Dibang

Miss Vivian Oyinatumba

Miss Chikodili Ozulumba

the virus, coupled with improved consumer demand will speed up recovery in 2021. I expect China to lead recovery with an expansion in 2021. According to the IMF, China's exports recovered due to earlier restart of activities and a strong pickup in external demand for medical equipment. I expect the US economy will expand reasonably while the economy of Sub Saharan Africa should expand likewise in 2021. I also expect that according to psalm 36vs9, “In God is the fountains of life and in his light may we see light” I see 2021 coming with fountains of life and so much light, it is my expectation that we see this light, because there can actually be so much light and you don’t see the light, it’s my prayer and expectation that we will see the light that God will surely bring to us in 2021.

word of God in the book of Ephesians chapter 4 is to see everyone dropping their wicked way of life if we desire anything better this coming year 2021. To put off our old self which is being corrupted by our deceitful desires and put on the new self-created to be like God. My desire for the new year for everyone is to see those that are stealing the wealth of this nation that belongs to all to stop their evil way of life; both the arm robbers and the pen robbers alike so that every citizen will enjoy the blessings of God together. I desire to see Nigerians to be more hard working this coming year rather than looking for short cuts in making their ends meet; dignity in labour not through internet fraud while our government will equally make the environment more conducive for our young ones to work in a safe country. Our government should take security more seriously. My expectation is to see our leaders leading us in truth by putting away lying tongues. This is a part of the old man that must be put off; shameful and abnormal behaviour, lack of self-control to the point of having no shame or thought for public decency, and that branch of the new man that must be put on in opposition to it is speaking the truth in all their sayings. My expectation is for me to be able to trust our leaders anytime they speak to us as citizens.

My expectation is to see my country Nigeria in 2021, a new Nation, as one country indivisible neither by tribe or religion, a country that lives together in love and prosperity, a country that lives in peace, not joyful in shedding of innocent blood; a country where her wealth will be a blessing not a curse, a country where every tribe will live together as one in love. A country where everyone can live and work in any part of the nation without fear, a country where our young ones can apply for work in any government ministry without discrimination, a country where the citizens and the security officers will be friendly, a country where the system will not only work for the rich and the powerful but for everyone; a country where one can sleep with his two eyes closed, travel on the highway without fear and trepidation and farmers can work in peace on their farms and look forward to a great harvest! A country that fears God. These are my expectations for this nation Nigeria, my country. Yes, it is possible if only me and you will do our part with the fear of God.

espite the travails of 2020, many Nigerians welcomed the New Year with great hopes and expectations. Hoping against hope that this year will yield better results, given the prevailing presence of the second wave of COVID-19 occasioned by the economic slump and hardship, especially for the low income earners, most Nigerians who spoke to THISDAY called on government to provide infrastructural development, tighter security, basic amenities, as well as create better business environment for all to thrive in. Going by what was witnessed in 2020the brazen attack on the nation’s security architecture (terrorism, increased kidnapping, banditry, and armed robbery), lack of access to healthcare, COVID-19 pandemic, economic slump and hardship, their demands were understandable and relatable. Pastor Eunice Iferi Chukwuemeka: Chairman Eagle Group and co-Pastor of Winning Power International Ministry Looking at the performance of the global economy you realise that Global GDP is expected to dip to a very reasonable percentage in 2020 due to the impact of COVID-19. My expectations are that the economy globally will recover in 2021 as countries relax lockdown and social distancing policies. I expect the discovery of a vaccine for

Olaonipekun Kolawole: Clergy As we are entering into this new year of grace with thanksgiving, my desire and expectations for our leaders and followers alike is to appreciate God by turning a new leaf. Our year of Grace; grace in the sense that no one both the rich and the poor, the powerful and the powerless who are able to see the year 2021 will not know that it is the grace of God that sees us all through. 2 Samuel 1:27, those called the mighty fell and money and power even position could not rescue or save. My expectations in accordance with the

Dr. James Onyeashie: Senior Lecturer and Ag. Head, Department of English, Augustine University, Ilara-Epe, Lagos I expect the pandemic to be history largely due to human resilience. The new normal created by the pandemic has destroyed

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FEATURES

Miss Henrietta Okoye- Customer Care Rep

Olufemi Egunjob

Nimsi Momoh

Temidayo Alailedoye

Daniel Adebayo

Adabara Peter

Agatha Aliu

Ikem Obi

predictability in everything, so I expect adaptability and flexibility in everything. I expect the security situation in Nigeria to improve based on the balance of terror because citizens will be forced to defend themselves against all the criminal elements destroying the peace and unity of the country. I expect that the government of the day will realize that history is an unforgiving tyrant chaos and anarchy is an evil wind, so everything legitimate may be done to create and sustain peace. I expect that the Nigerian government will understand that while it is commendable to establish more tertiary institutions, it will be more productive to build industries to employ graduates of different levels of education. I also expect that our leaders will be more humane to understand that the country is in a direction straight and that private and public businesses can inject new life to the economy. So, I expect that double or even multiple taxations need to be addressed because taxation fatigue has set in already. I expect that parents will be more able to provide the necessaries of life for their children and wards and so contribute to the upbringing of the total person in their children. I expect to still have a safe country where I can travel in safety and a safe home to return to without fear of terrorism. I expect to be alive and to be me and not to be seen as a second class citizen in my own country. And finally, I expect that in spite of all the difficulties in our lives, that we will still have the capacity to love and care for each other and one another.

journey along, so let's make it a beautiful year consciously.

Most times we have New Year resolutions at this time but we can agree that 2020 was not the best year with COVID-19 and of course vaccines are being given well in some parts of the world but ultimately we are still bringing COVID-19 into 2021. The goal is not to have expectations but to take each day at a time, for me my goals are in moderation 2021 by being intentional to making sure 2021 is a successful one as I enter into my 5th decade on earth, personally there are few personal things I’ll like to achieve if the year permits but ultimately the goal is to stay alive, making sure my mental health and general health is well looked after and I hope my organisation (YD) will be more impactful in the New Year. Lastly, I also look forward to making a deliberate effort to make a positive change to the community at large.

its giant nature. I want to see a Nigeria where citizens will stop expecting only what the country can do for them; a Nigeria where I will wake up and say God bless Nigeria; a country where institutions will work independently of any government of the day; and above all a country where rule of law is included in the exclusive list of the government. God bless my country Nigeria.

Damilola Makindipe: CEO, Milolar Store As everyone else, I'm optimistic about even a brighter 2021. I can't say 2020 was a bad year really, it's been a great year for me and my brand despite the plaque of COVID-19. So, I look forward to a more fulfilling experience in the year 2021. Plans to plant more stores are in the pipeline. Also will be expanding on our products offerings to better serve as esteemed customers. I'll be adding new products lines, improving on existing ones and developing more structure to ensure we are better equipped for the growth we anticipate. As an advice, I'll also like to suggest that as we go into the New Year, we should have renewed hope, we should guide our minds and purify our thoughts, because our predominant thoughts manifests in our lives and we should be mindful of sabotaging ourselves thinking negatively on the state of the economy thereby generating a national karma of unpleasant experiences that stem from our collective minds. It is important to note that 2021 isn't formed yet and we will build it as we

Tope Joseph Raphael: Clergy Everywhere has been dark, in 2021 it will still be dark, but in the long run, there will be light that will expose the dark forces that were operating all these while. This year 2021, there will be light. At the end of all that will happen in 2021, it will be seen that there is a God in heaven who ruleth in the affairs of men. Christianity will face a lot of attacks. Personally I see it as a year Christians should know God for themselves, because their faith will be tested.. It is a time Christians should not be discouraged by whatever they see or hear, but hold fast to the profession of their faith and God will give us victory at the end. I have great expectations for 2021. Last year on the 31st night of 2019, I spoke in our cross over night service, that in 2020, there will be fear of death, and it will be on the rise all over Europe & Africa, but God says His covenant is over us that we will not die young and here comes COVID-19. The funny thing I am hearing is that this coming year is still going to be worse, and this could come in a different form. But there is an assurance of God for the redeemed ones. So my personal view isn't to have quick expectation of everything becoming better quickly because we just stepped into the new year, we need to be patient, preserve, and be prayerful, There is a battle against the agenda of the dark kingdom in the heavenlies, at the end light will prevail and expose them all. Silas Udoh: Lawyer 2021 will be full of blessings. However, l expect the National Assembly to make laws that can eradicate poverty in Nigeria, promote unity in Nigeria and opportunities for employment and empowerment. I also expect churches to practice old time religion which humanity services were the main focus. I expect Nigerians to embrace genuine investments and think business always because even if the government or people fail, an individual should not fail his or herself. I expect Nigeria as a nation to love God above all other things so that the citizens can have confidence in the activities of government. Elder Francis Osaghae: Managing Director, Feni O Ventures Limited My expectation is for Nigeria to discover COVID-19 vaccine for Nigerians and for the African continent. I look forward to seeing our economy bounce back in 2021 as the year 2020 was a disaster. Yetty Ogunnubi: CEO YD Company

Mr Okorji Uchenna Oluwatobi: Entrepreneur My expectations for 2021 would be for the economy to get better and also for an end to COVID-19. Beliefs for me would be that the Nigerian government would make life better for its citizens. Strength is prayer for the country always. Miss Agnes Eyere Dibang: Student/ Baker My expectations for 2021 by the grace of God, is achieving my goals especially the ones that have to do with school, taking my baking business to the next level and just living life to the fullest and being happy. Miss Vivian Oyinatumba: Entrepreneur I hope for a healthy year void of pandemics, more productivity, better implementation of laws and promises made by the government in relation to Law enforcement and the educational sector. In summary, a peaceful yet productive year. I guess I’m all braced up for 2021! Miss Chikodili Ozulumba: PR Analyst I pray for a good year, way better than 2020. I hope the government does more to help the ordinary man and make live meaningful for them. I am hopeful that 2021 would be a pandemic free year. Miss Henrietta Okoye: Customer Care Rep 2020 wasn't a bad year for me, but I expect 2021 to be way better. Let the pandemic be a thing of the past, let the country come out of recession and let there be an end to the current economic, political and security issues plaguing Nigeria presently. Mr. Olufemi Egunjob: Engineer My expectations for Nigeria is to see a Nigeria where citizens will begin to think Nigeria, think more of what we as individuals can do more to take the country back to

Nimsi Momoh: Accountant My expectations are that 2021 should be more prosperous than the previous year/ years. Then if it's from the government, I expect to see more transparent governance and more youth involvement in politics. Temidayo Alailedoye: Civil Servant Just like other years in the past, things will be getting worse. However, students will resume back to school after some time. Unemployment will be on the increase as usual. Concerning COVID 19, I think we are in for a hard time but I don't expect the second wave of COVID-19 to be as deadly as that of the year 2020 because the vaccines will readily be available. Daniel Adebayo: Civil Servant Personally, I am more determined to continue showing love for God and my neighbour come 2021. I want the government to show more commitment to alleviate the many problems that Nigerians are facing. Adabara Peter: Administrator After COVID-19 enforced lockdown in 2020 which affected my income, I have decided to leave my salary work and engage myself in selling and buying of food items as this will help me to be self-reliant in 2021. Agatha Aliu: Banker I can't say yes or no to 2021 about what the year will bring, it all depends on how much social mixing resumes and what kind of prevention we do and how people comply. Ikem Obi: Businessman My expectations are for people who are able to do their businesses through their phones should be doing that and avoid contact with people, also limit outings unnecessarily, plan yourself well and reduce unnecessary stress and make sure you go out with your face mask and always wash your hands, as well as avoid crowded areas. Vivian Vihanna Godonu: PR expert I hope the security issue will be sorted honestly; the accusers of the Lekki massacre will also be brought to book, and that miraculously, Boko Haram will be abolished. My other expectations are that the nation’s education and health systems would be immediately reformed.

MONDAY JANUARY 4, 2021 •T H I S D AY

T H I S D AY ˾ Ͳ˜ 2021

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Quick Takes Bitcoin Rallies above $30,000

THANKSGIVING SERVICE

L-R: Managing Director/CEO, Keystone Bank Ltd, Mr. Olaniran Olayinka; Registrar, Chartered Institute of Bankers of Nigeria (CIBN),Mr. Seye Awojobi; Second Vice President, Prof. Deji Olanrewaju; President, Mr. Bayo Olugbemi; First Vice President, Dr. Ken Opara; National Treasurer, Mr. Oladele Alabi; and MD/CEO, Wema Bank Plc, Mr. Ademola Adebise, at the evening of songs/thanksgiving service organised by CIBN in Lagos... recently ETOP UKUTT

Report: AfCFTA Will Boost Nigeria’s Export Dike Onwuamaeze A study initiated by the Nigerian Economic Summit Group (NESG) on the impact of the implementation of the African Continental Free Trade Area (AfCFTA) agreement on Nigerian economy has revealed that it would have positive impacts on Nigeria’s exports. The study titled, “Impact Assessment Study and EconomyWide Implications of the AfCFTA on the Nigerian Economy,” stated that if linear cuts would be applied to tariff elimination, the country’s aggregate export will increase by 0.02 per cent in both the first and second five-year implementation periods respectively. But, “if the tariff elimination is back-loaded, aggregate export is expected to increase by 0.01 per cent and 0.03 per cent in the first and second implementation periods respectively. “Even when tariff elimination is front-loaded, aggregate export will still increase by 0.02

ECONOMY per cent in both the first and second five-year implementation periods respectively. “When sensitive products are protected from tariff cuts, aggregate export will also increase by 0.02 per cent in both the first and second five-year implementation periods respectively,” the study said. The study, which was carried out by the Centre for Petroleum Energy Economics and Law (CPEEL) at the University of Ibadan, in conjunction with Equilibria Consult, however, estimated that Nigeria’s government revenue would decline by 0.21 per cent with the implementation of the continental pact. It projected that government revenue during the first period of five years of the implementation of the AfCFTA would increase by 0.42 per cent before declining by 0.13 per cent if the government could increase its investment by 10 per cent.

It attributed the envisaged reduction in government revenue to the decrease in tariff revenue, which constituted a major source of government’s non-oil revenue. It, however, noted that government revenue would be in positive direction in both the first and second period of the AfCFTA implementation if foreign investment inflow and an increase in labour supply were assumed. The study further indicated that the AfCFTA would have a trade-diverting effect on the country as Nigeria’s imports from non-African countries would be substituted by imports from African countries. “The AfCFTA implementation in Nigeria is expected to create the phenomenon of tradediversion and this will be more prominent in Nigeria’s imports from West African countries and South Africa,” the study said. Nevertheless, simulations carried out by its researchers according to the report indicated that the AfCFTA tariff liberalisa-

tion would cause a negligible decline in the household’s income. It showed that the decline in household income would be more severe for rural rich households and urban-rich households than on the poor households in both urban and rural households, which would only experience a marginal decrease in income at the average of about 0.01 per cent for both rural and urban poor households. “The expected decrease in income of rural and urban rich households will be an average of about 0.02 per cent for each household type. However, when government intervention and inflow of foreign investment, as well as the increase in labour supply, are simulated, the tide of negative household income changes is reversed,” the study stated. The study, however, warned that that reliance on foreign saving inflows to grow the Continued on page 24

Access Bank, GTBank Join Growth Index as NSE Review Market Indices Goddy Egene The Nigerian Stock Exchange (NSE) has made its annual full year review of the market indices which includes: the NSE 30, NSE Lotus Islamic, NSE Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index and the five sectoral indices comprising the NSE Banking, NSE Insurance, NSE Industrial, NSE Consumer Goods and NSE Oil & Gas. The review led to the entry and exit of major companies from

CAPITAL MARKET several indices which will take effect today. In the NSE Insurance Index, for instance, Veritas Kapital Assurance Plc and African Alliance Insurance Plc came in while Niger Insurance Plc exited. Similarly, the NSE Oil & Gas Index saw the exit of Mrs Oil Nigeria Plc and the entry of Eterna Plc. PZ Cussons Nigeria Plc was removed from the NSE Lotus/ Islamic Index, while no stock was added. In the same vein, no

stock was added to the Afrinvest Dividend Yield whereas Dangote Sugar Refinery Plc was removed. FCMB Group Plc, United Capital Plc and AIICO Insurance Plc were also removed from the index. The Meristem Growth Index admitted Access Bank Plc, Cadbury Nigeria Plc, Guaranty Trust Bank Plc and Julius Berger Nigeria Plc, while BUA Cement Plc, Glaxosmithkline Consumer Nigeria Plc, Okomu Oil Palm Plc and Wema Bank Plc were removed. Meristem Value Index added Dangote Sugar Plc and Total Nigeria Plc and removed

Cadbury Nigeria Plc, Dangote Cement Plc, Fidelity Bank Plc and UACN Property Development Company Plc. According to the exchange, the indices were developed to allow investors to follow market movements and properly manage investment portfolios. Designed using the market capitalisation methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July. The NSE began publishing the NSE 30 Index in February 2009

Digital currency, Bitcoin, extended its record-smashing rally on Saturday, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method. According to Reuters, the price of the world’s most popular cryptocurrency traded as high as $33,099 on Saturday, with almost all other markets closed over the first weekend in 2021. It was last up about 12 per cent at $32,883. Bitcoin advanced more than 300 per cent in 2020, and with the latest leg higher has added more than 50 per cent since crossing $20,000 just two weeks ago. The blockchain currency has only been around for a decade or so, and in 2020 it has seen demand grow from larger United States investors, attracted by its perceived inflation-hedging qualities and potential for quick gains, as well as expectations it would become a mainstream payments method. Investors said limited supply of bitcoin - produced by so-called “mining” computers that validate blocks of transactions by competing to solve mathematical puzzles - has helped power upward moves over recent days. Some also saw it as a safe-haven play during the COVID-19 pandemic, akin to gold. “It’s very likely that the asset will eventually pass $100,000 per coin,” co-founder of Chainlink, a global blockchain project, Sergey Nazarov said. “People have been steadily losing faith in their government currencies for years, and the monetary policies resulting from the economic impact of the coronavirus have only accelerated this decline.”

Tesla 2020 Deliveries Beat Estimates

Tesla Inc. has reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption. But the company narrowly missed its ambitious full-year goal during a punishing year for the global auto industry, according to Reuters. The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data - but 450 units shy of CEO Elon Musk’s target. Musk tweeted that he was, “proud of the Tesla team for achieving this major milestone.” “At the start of Tesla, I thought we had (optimistically) a 10 per cent chance of surviving at all,” he said. On Twitter, congratulations from supporters and bullish investors poured in, lauding the electric vehicle maker for its stellar year, which has defied wider auto industry trends of slumping sales, quarterly losses and global supply chain disruptions. Tesla’s share price has risen more than 700 per cent over the last year, the company has reported five consecutive quarterly profits and in December it was included in the S&P 500 index. But some online investor accounts criticised Tesla for saying it had achieved its guidance. Tesla at the start of 2020 said it would “comfortably exceed 500,000 units” for the year, a target it has left unchanged despite the pandemic. Chief Financial Oﬃcer Zachary Kirkhorn in October saidTesla was “aiming to achieve (its) original 2020 guidance.”

Facebook’s Advertising Chief Exits Company Facebook Incorporated’s chief of advertising integrity, who handled the company’s ad products around sensitive subjects such as politics and coronavirus misinformation, departed last week, according

to an internal company post viewed by Reuters on Friday. Rob Leathern, director of product management, said earlier this month on Facebook’s internal network that he would be leaving the company on Dec. 30. His exit had not been previously reported. Facebook could not immediately be reached for comment. Leathern said in the post that he was “leaving Facebook to work on consumer privacy beyond just ads and social media,” without disclosing where he was headed. Leathern was often the public face of the company’s controversial political advertising policies.

“Interest rate reduction has not achieved desired outcome, as lending rates are still high. Consequently, the CBN needs to enforce lending rate cap and create a minimal spread between the deposit rates and lending rates of various deposit money Former Director General, ACCI,

Continued on page 24

Chijioke Ekechukwu,

T H I S D AY ˾ Ͳ˜ 2021

BUSINESSWORLD REPORT: AFCFTA WILL BOOST NIGERIA’S EXPORT might not pay-off readily and recommended that the country should embark on massive infrastructure upgrade and institutional reforms to improve its business environment. “The infrastructure upgrade could be realised through the concession of major infrastructural projects like electricity, roads, bridges, airports, seaports, etc. to the private sector. “The concessions must, however, be complemented by strong institutional reforms to effectively regulate the operations of the private sector,” it said. It added that Nigeria should, “maximise the opportunities that are available to it in the AfCFTA agreement by enhancing the space for both domestic and foreign investments. “Thus, there is the need to create a more business-friendly environment and reduce existing binding trade constraints in the country that has so far deterred the growth of foreign investment in different sectors of the economy. “In addition to providing a reliable transportation system and power supply, the country can restore a business-friendly environment by substantially addressing all major security challenges that have in recent time inundated the country and discouraged foreign investors from doing business in Nigeria.” ACCESS BANK, GTBANK JOIN GROWTH INDEX AS NSE REVIEW MARKET INDICES

with index values available from January 1, 2007. On July 1, 2008, the NSE developed five sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors. In July 2012, the Nigerian bourse launched the NSE Lotus Islamic Index which consists of companies whose business practices are in conformity with Shari’ah Investment Principles, with the aim of increasing the breadth of the market and creating an important benchmark for investments as the alternative ethical and noninterest investment space widened.

Group Business Editor

Obinna Chima

Capital Market Editor

Goddy Egene

Comms/e-Business Editor

Emma Okonji

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (ICT) Peter Uzoho (Energy)

NEWS

LCCI Declares Support for PIB, Calls for Preservation of Existing Projects Dike Onwuamaeze The Lagos Chamber of Commerce and Industry (LCCI) has declared support for the efforts to drive reform in Nigeria’s oil and gas industry through a new Petroleum Industry Bill (PIB). The LCCI also urged the National Assembly to come up with a legislation that would promote effective and efficient governance, administration, host community development and fiscal framework for the petroleum industry. It advised that the new legislation should help preserve the integrity of existing projects in the industry, while encouraging future growth of production in order to make Nigeria an investment destination of choice. These were contained in a statement released yesterday by the Director General of the LCCI, Dr. Muda Yusuf. He noted that the current bill marked a positive steps toward achieving the objectives of the PIB 2020 to reform the institutional and fiscal framework and develop Nigeria’s gas sector by creating a framework to support the development of host communities, foster sustainable prosperity and attract investments to grow the country’s

production capacity. Yusuf, however, observed that some of the sections in the current PIB habours some provisions that could adversely affect the growth of the industry and the overall economy. He recommended that the PIB should seek to protect existing investments from value erosion as the assets and operations from

these investments are the foundation upon which new projects could be built. Yusuf said: “It is, therefore, crucial that projects already underway be able to maintain the conditions under which they were designed and approved. Doing so will incentivise the launching of new projects; grow production and revenue for

government and stakeholders and thereby guaranteeing long term sustainability of our oil and gas industry. “While the PIB enables companies to elect to either convert to the PIB or remain on existing terms, it does not provide clear assurances that projects whose leases will be renewed in the coming years

will be able to retain the rights and benefits they have earned since the start of their operations. “In addition, the PIB provisions expect lease holders to relinquish (upon conversion or renewal) lease areas and zones, thereby potentially jeopardising future exploration/development and long-term contractual gas supply obligations.”

BOARD INAUGURATION

L -R: Chief Executive Officer, Icon Hotels Group Africa, Fred Maina; Akwa Ibom State Attorney General and Commissioner for Justice, Uwemedimo Nwoko; Board Chairman, Ibom Hotels & Golf Resort, Udeme Ufot; Secretary to the Akwa Ibom State Government, Dr. Emmanuel Ekuwem, and Commissioner for CultureandTourism,OrmanEsin,duringtheinaugurationoftheBoardofIbomHotelsandGolfResortatUyo...recently

Expose Fraudulent Dealers SON Urges ANLCA The Standards Organisation of Nigeria (SON) has urged the Association of Nigerian Licensed Customs Agent (ANLCA) to expose unscrupulous elements who hide under the association to perpetuate dubious crimes. The SON Director General, Mallam Farouk Salim, stated that exposing dealers would go a long way to protect the image of the association as well as safeguarding the lives and property of Nigerians. A statement quoted the Director General to have said this during

an interactive session with ANLCA in Lagos. He said the impact of substandard good on the nation was huge leading to job losses, pointing out that substandard goods have no economic value. He reiterated the agency’s resolve towards combating fake and substandard goods in the country while also improving the lives of Nigerians through quality assurance. He called on Nigerians to be patriotic to take the country to

the next level, pointing out that doing things the right way would make Nigeria achieve economic stability while also preparing for the unborn generation. Responding, the ANLCA President, Iju Tony Nwabunike, restated the association’s commitment to work with SON. He said SON’s automation process scheduled to be in full gear next year would make cargo clearance seamless at the ports. “We are going forward and we are hoping to see a very wonderful

automation of SON,” he said. He said with the African Continental Free Trade Agreement (AFCFTA) scheduled to commence next year, there is an urgent need for all hands to be on deck to make Nigeria goods competitive. “The trade pact would expose so many things and on that note I will want you to buckle your shoes more on areas of partnership with Nigerian Customs to achieve seamless port operations. “We are going to do so many things to challenge our

African counterparts on areas of commodities and products. He assured SON that it would engage importers to always insist on standards whenever they import, stressing that standards must not be compromised. “We would put our heads together and also tell our importers that whenever they go to import, they must always insist on standards and these standards cannot be compromised He urged the standards body

COVID-19: Indigenous Firm to Unveil Locally Manufactured Ventilators James Emejo in Abuja An indigenous ICT firm, Access Solutions Limited said work has reached an advanced stage towards the production of locally manufactured ventilators in a major push to combat the deadly COVID-19 pandemic currently ravaging the entire world. In an exclusive interview with THISDAY the company’s Managing Director/Chief Executive, Mr. Elijah Olanrewaju, said, “All is almost ready for our prototype to come out,” adding that the first production of the ventilators would happen next month. The development will particularly boost ongoing efforts by the Central Bank of Nigeria (CBN) to stimulate research in the health sector as well as encourage the production of health equipment to cater for the needs of the country amidst the adverse impact of the pandemic - as well as the need to preserve scarce foreign exchange. Elijah, said the company had during the COVID-19 turmoil, launched a quick intervention programme to work on techno-

logically advanced COVID-19 ventilators, “not the ones you see people rushing”. He said: “We are working on the ventilators which are computer driven whereby we can produce in quantities if need be” He also revealed that the company is developing other locally manufactured clinical instruments including thermometers, 3D machines and drones to boost the agricultural value value chain. He said some of the innovations will be unveiled by the first quarter of 2021. According to the Access Solutions boss:” The original vision of the company is found in the name Access Solutions - we are a solutions company. If we don’t solve people’s problems then technology has no use. “Now, one of the key things we are trying to do is to say how do we make sure technology is applied to health, applied to food provision in agriculture, food processing - How do we apply it to the economy and how

do we apply it to solving the unemployment issues.” The CBN had launched a N100 billion health intervention support programme to develop the pharmaceutical sector and encourage research and innovation as well as efforts to produce locally made vaccines to subdue the pandemic. Even though Access Solutions is yet to take advantage of the intervention support, Elijah told THISDAY the company intends to apply for the funds to scale up its programme - pointing out that so far, private capital had been used to fund its programmes. Nevertheless, he said: “We are looking into farming actually How do we help farmers because subsistence farming cannot help us, you need to mechanise, in fact, technology driven farming where we can use drones. “Like right now, we are working at producing 3D machines that we can help schools with. We want to use that also by the grace of God in the next two years to be able to produce locally driven drones - not just the ones that

they import parts and assemble. “We want to be able to largely produce everything here in Nigeria to make sure that over 70 per cent of the materials are produced locally. “For example, by so doing, we can crash the costs of provisioning drones to farmers to help in spraying. If you have 50 acres of land, if you want to use hand to spray chemicals, you know how long it is going to take and the number of people you are going to employ. “But with drones, you can do that almost within hours. So, these are parts of the initiatives we are looking at and with that you will employ more people. With that we are trying to contribute in solving the unemployment problem in the country and also increasing food production and solving the hunger problem.” Elijah said the company which is renowned for its competitive banking and payment solutions and systems optimisation, among others, seeks to leverage technology in resolving the challenges

in health, agriculture particularly food processing as well as boost the economy in general. He said: “Last year we started an initiative we have been playing with for some time - we set up a lab that is researching into a number of things: for example in agriculture right now, we are working in the area of what we call addictive manufacturing using 3D printers, using new technologies to be able to help people in processing rice or producing little equipment that can help those who are in the processing line. “We are also looking into pan making, dried pap and all of these are produced from our lab called Photonics Lab. The lab is also working on producing large scale Internet of Things (IOT) materials to help process automations whether management or all of that.” He pointed out that the company is currently looking to produce some medical equipment locally to help hospitals especially to reduce pressure on the country’s foreign exchange.

T H I S D AY ˾ Ͳ˜ ͰͮͰͯ

Okpala: Digital Platforms to Accelerate Banks’Growth Nonso Okpala is the Group Managing Director/Chief Executive Officer of VFD Group Plc, a financial services holdings company in Nigeria with interests in foreign exchange, debt investment, international remittance, real estate, banking, leasing and payment businesses. In this interview he speaks about the Group’s businesses as well as plan to raise N13.5 billion from the investing public this month. Obinna Chima provides the excerpts:

hat is your assessment of the immediate past year? Well, I think it has been a mixed bag in the sense that the year was not short on challenges and was not short on threats. The year got people very apprehensive and disrupted a lot of things, in terms of our way of life as well as our business operations. But that is generally speaking. On the flipside, it was good to know that we have a very resilient business model. It is good to know that despite the challenges and the threats that existed in the course of the year, we were able to sustain growth; we were able to maintain profitability and we were able to take care of our people. It is worthy to note that not even one of our staff was laid off in the course of the extremely difficult year. So, I would say it was a mixed bag and I am very sensitive to challenges that people have faced differently in their personal and professional lives; in the country and many organisations. But, be that as it may, we have been able to pull through and deliver good tidings for our stakeholders. For the country, looking back into 2020, is there anything you think the federal government ought to have done differently to address some of the challenges the economy faced last year and what is your assessment of the response of the Central Bank of Nigeria (CBN) to the pandemic? You would recall like I stated earlier, it was an extremely challenging year. From the case of the COVID-19 apprehension to the lockdown of the economy entirely as well as shutting down peoples’ ways of lives, to the challenge and restiveness that occurred during the #ENDSARS and the drop in crude oil prices – all these things were challenges that would knock any government that is not well set up. I think the federal government has done a good job in managing things and ensuring stability; ensuring the rule of law and putting things in the right perspectives. Of course, a lot more could have been done, but to a large extent I think they have done well. The CBN is also part of the federal government’s response. So, I think with respect to how they ran the economy in the last 12 months, the CBN played a key role in how the economy was managed. As you know, we are not in a terrible place. So many other countries are still licking their wounds. So, I would give them a pass mark. If you look at how the exchange rate has been managed, to a large extent it could have been worse. But things have been managed to the extent that we have not experienced a systematic shock; we have not experienced a run on the banks and we have not experienced a wholesome loss of trust in the economy. Of course, there is room for improvement this year; but I think they have done well in maintaining a stable economy thus far. The VFD Group recently got shareholders’ approval to raise N13.5 billion; can you explain to us what necessitated the capital raising and what the funds would be utilised for? We are very grateful to members of the company led by the board of directors in obtaining the approval for them, for N13.5 billion capital raising, which is broken down in three tranches. First is a N4.1 billion proposed rights offer, followed by a N4.9 billion proposed special placement and public offering of shares and a N4.5 billion planned debt issuance. Of course, the board and members were gracious enough to allow directors to make a call as to how best this capital could be raised and in what proportion. But we are very optimistic based on the excitement within in the ranks of our members and even prospective investors, that we would successfully raise the said funds. I have always said that the

Okpala VFD Group is the best and most compelling investment opportunity in the country. And if you look at our track record from 11 years ago when the initial shares were issued at N2 and currently we have a valuation that places our share price at about N600 per share. Of course, this is subject to regulatory approval by the Securities and Exchange Commission (SEC). But we are optimistic that it will be in that neighborhood. Over the last 11 years, value has undoubtedly been achieved, growth has occurred and profitability has consistently happened in every year of our operations in the past 11 years. We have grown from a single business operation to operations that span over 11 companies of which we have stakes in them and about five more that we have significant stakes. And they are doing quite well. Ultimately, our aim is to provide all the products and service offerings that we have within our subsidiary portfolio on a technology platform that would provide a very compelling ecosystem for Nigerians. With respect to the plans for the N13.5 billion. The primary objective is to secure a proposed banking license from the Central Bank of Nigeria in addition to pushing our virtual bank franchise deeper and to grow adoption. We have dedicated this year

The primary objective is to secure a proposed banking license from the Central Bank of Nigeria in addition to pushing our virtual bank franchise deeper and to grow adoption. We have dedicated this year to grow adoption

to grow adoption. We have a simple plan and that plan is to get two million active customers on the platform; as well as grow our deposit liabilities in the first instance to N12 billion, but ultimately to about N30 billion on that platform. Since inception last February, we have been quite excited about the results we have received. We think that last year provided the requisite base for us to significantly ramp up in 2021. So, that are the two major aspects we intend to deploy the funds to. When would the offers commence? The rights and the private placement would open late January and it would close in February next year. Of course, that is the plan, but it is subject to regulatory approval. You said you have about 11 subsidiary investments, can you take me through the business model of the VFD Group and what you intend to achieve by investing in almost every sector? So, what we are trying to achieve is quite interesting. I think that when we roll out in full form in about eight to ten years’ time, Nigerians would be proud to associate with what we have achieved. We see ourselves as a propriety investment company and we started making investments in the financial services industry. Some of those early investment we made were in microfinance bank, in lending, in assets management, in currency exchange, real estate and in remittance. Those were the initial set of companies that we had. We started these companies from scratch, Greenfield investments and we have grown them to be quite enduring, matured and they have been growing consistently with good returns on investments. We also invested in other areas which include automobile, we invested in Germain Auto at some point. But we disposed that stake and started a new automobile company because we felt it was time for us to give the business back to the

family that founded it. We also invested in a company called Atiat Leasing, which is into leasing business. We think that on the back of that, we would push beyond auto leasing and go into leasing to support the oil and gas sector. In addition, we invested in a mortgage bank, early in 2020. We are currently in the process of applying for a banking license from the Central Bank of Nigeria. This does not include other businesses that we have associate status or a main investment status in. For those businesses, as they perform, we might increase our stake in them and get more involved in their operations. But the most interesting thing we try to achieve is to bring to bear the selling ability of all the businesses that we are involved in, such that we create a platform in the back of the virtual bank that allows for customers and the general public to meet all their needs – be it financial needs, be it purchase of vehicles, purchase of real estate, maintenance of vehicles, lifestyle shopping, and so many other things on that platform. Of course, in the first we put our products and offerings on it and as we go along, the objective is to allow other people host their products on it and be part of the entire process. So, we think that is an ecosystem that enables us to choose our strategic focus is what would give us a strategic edge, when we are done with the structure we are putting in place. What are the success stories and challenges that comes with managing a group with so many subsidiaries? I know I am biased, but I will tell you that the reason why I think that the VFD Group is a remarkable company goes back to how it was founded. VFD Group was founded by a group of young professionals, who at a very early stage in their career came together; clearly understanding that they had limited resources or capital, but they had the know-how and with the aspiration to become great managers CONTINUED ON PAGE 26

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OKPALA: DIGITAL PLATFORMS TO ACCELERATE BANKS’ GROWTH you. It is a virtual and digital bank. It is the direction of the financial services industry and I think that those who have not embraced it should try it out and see how compelling it is. It is very well interwoven with how you live your life. If you want to go to a supermarket to buy things, you want to pay directly from your accounts, you can do it easily without even having to pull out your card to make payment. So, it is one product that we are excited about. But the most interesting thing about this App is that on a quarterly basis we tend to enhance it. We tend to understand the market, understand the customers’ needs and tweak the App to reflect those needs. We know that overtime, we would be able to align directly and consistently with what the customers need and provide it to them.

and captains of industry. So, we came together, put the little funds that we had, committed to world-class governance, committed to transparency and accountability, committed to enhancing themselves through the business model that we decided that we would invest those funds in. And over the years, we have all grown in that prospect. Seven years down the line, we exited our main jobs and got into full time engagement with the company. We started initially as an investment club, with a group of people coming together just to play the market. Then, we saw the opportunity that existed and then we started a lending business. Then as an investment club, we still had our 9am to 5pm jobs respectively and we focused on working and setting up the company at weekends and our spare time. So, we did this for about seven years and we never took a penny from the company, but we just kept on compounding the funds and retained the earnings in the business, until we started resigning. I resigned from Heirs Holdings as Chief Finance Officer; Gbenga Omolokun resigned from KPMG where he was a senior manager; Bolaji Adewumi resigned from FirstBank, where he was working with the Group Managing Director of the bank; Azubuike Emodi resigned from Zenith Bank and joined us. So, it was a similar story for all us. We have been together and we grew this company from scratch. So, I think the objectives that brought was together, the passion, commitment and single-mindedness of putting this company ahead of us is what makes it quite interesting for us. I think that is one sure component that would see the VFD Group achieve its objectives in the long-run. You are considering getting a banking license, what is you assessment of the state of the Nigerian banking industry? I think the banking sector has traditionally done well. It had led the service industry in this country. If you typically compare the banking sector with the insurance sector, in developed nations, the insurance sector is more profitable and has more capacity than the banking sector. But in Nigeria, the banking sector has been far ahead of the insurance and every other sector within the financial services industry. So, in general terms the banking sector has done very well historically. Currently, I think we are at a crossroads and it is a crossroads that can see the banking sector grow in leaps and bounds, especially with the influx of digital banks and the leveraging of technology in financial services going forward. Historically, the overhead of banks was quite huge because of the operational needs, the personnel engagement and even the lack of flexibility in service delivery has been a major issue for the banking sector. That was why prior to now, we had a lot of unbanked and underserved customers. But we think that with the advent of technology and fintechs, most of these things would be addressed. But key to the whole process is for the traditional banks, the virtual banks and the fintech companies to come together and work in harmony, knowing fully well that all that the fintech companies and virtual banks would do would complement and add to the results of the traditional banks. Once that is done and a good regulatory framework is put in place and players in the industry adhere to rules, make the interest of the market as well as the customers paramount in their operations, of course in think the banking industry would perform exceptionally. A recent report by McKinsey and Company urged Nigerian banks to plan for another round of consolidation in order to thrive beyond the crisis. What is your take on that? I think that the traditional banks have had their focus on blue chip companies and high net worth individuals and there is the tendency for the winners or a group of winners to take all. So, yes, within the traditional banks, you would expect that the leaders, which are the likes of Zenith Bank, GTBank, United Bank for Africa Plc, Access Bank, would continue to grow in disproportionate form compared to other banks. But with the advent of technology and fintechs like I mentioned earlier, you would see more players who to a large extent would increase the participation in the sector and as well create opportunities that ultimately would

Okpala benefit the customers. So, even if there is a recapitalisation, you know the indication that came up when the Central Bank of Nigeria muted that plan, was to have it in category. So, to the extent that you maintain categories for recapitalisation, I do not see any of the traditional bank currently that would not meet the regulatory or recapitalisation requirements. So, from a regulatory perspective, I don’t think that a consolidation would be driven; but from market trend perspective, I think that there is tendency for the industry to see a trend towards winners taking all; in which case it will benefit the leading banks that I mentioned. But that does not mean that it is going to run the smaller traditional banks out of the industry. In addition to that, the fintechs are here to stay; virtual banking is here to stay and the central bank is increasingly embracing it. The agency banking is here to stay and different innovative forms of payments are coming up under the fintech banner. So, collectively there would be more participants within the banking sector serving different markets, but ultimately reducing the number of unbanked and under-served customers in the industry, which ultimately is the objective of the central bank as well meeting the goals of financial inclusions that was set in the industry. Your target is to acquire a banking license, what gap does the VFD Group intends to ﬁll in the banking industry? You know the gap is very obvious. The big banks are here to serve the blue-chip companies and the ultra-high net worth individuals. We are here for the masses – for people that earn N50, 000 and those that earn N100, 000 and around that range. It is possible for us to deploy great services and high quality of products and service delivery because of the flexibility of the technology we have and the ability of that technology to be customised to the needs of the market. And so, we are focused on the everyday people. We are focused on them because our business model is such that supports exceptional service delivery and products to that level. So, consumer lending is one aspect that we are playing in and consumer financing is another aspect. We are focused on the retail market and we have been doing this in the past 11 years. You will recall that our first business was consumer lending and that was how we started the VFD Group. What is your V-banking solution all about? I remember the UBA and FirstBank back in the day, when we were quite young and they

were advertisements about these banks where their competitors had customers that had mats and mattress in the banking hall because of the time they were expected to spend in the banking halls. That was the tally number era. So, if you compare that now with the prevailing trend, you will see that there is a new trend. This generation of customers don’t want to be in the banking hall. Initially they wanted to be by Automated Teller Machines (ATMs), but increasingly they don’t even want to be by ATMs. And with the occurrence of the COVID-19 and level of hygiene that people are expected to maintain, you will see that people want contactless technology as well as contactless services. So, there is a huge demand for it. And true to our visionary form, we had started working on a virtual banking license before the pandemic broke out. That was why at the onset of the pandemic, we were quite responsive to deploy the virtual bank called ‘V’ by VFD, popularly known as V-Bank to the astonishment of the market. The market has embraced it and we see it as a trend that would occur. With the App, you can open a valid bank account in less than two minutes, you can move funds from your other banks into that account and you can receive proceeds of business that you have done or your salary in that account. Beyond that, you can make investments immediately. Typically you will call your account officer to establish a fixed deposit for you, but with ‘V’ by VFD, you don’t need to do that. You will just go on your phone and set up a fixed deposit account or investment, by yourself and you will see the report and confirmation of it and at every point in time that you want to check the status of that investment, you will easily get it. You can see an analysis of how you spent your funds; you can see an indication of the budget that you set up for yourself and that App can also hold you accountable to the budget that you had set for yourself. One of the most intriguing feature of the App is the fact that if you have challenges with putting money aside, it can help you do that as you can set it to deduct a certain amount on a daily, weekly or monthly basis and overtime you will find out that you have accumulated a great level of savings which you probably wouldn’t have been able to do if you didn’t have the App. You can request for your cards on it, for those that still want to patronise the ATMs. But if you don’t want to use ATMS, you can go for a virtual card. So, there are lots of options and support that this App can give

But despite the increasing adoption of virtual banks and digital solution, there is the belief that cash remains king? The definition of cash is what is misleading in the quote. When you say cash is king, money in the bank is cash. Your ability to spend the money that you have with ease and without complications is what is defined as cash. Now, imagine if you want to buy an item for N500, 000, you wouldn’t want to carry N500, 000 and be roaming about. The fact that you have your phone which people hardly forget, you can transact banking anytime. We have done a research and we found out that people hardly forget their phones. They hardly leave their phones at homes. But sometimes they forget their wallet, sometimes they forget their bags, sometimes they don’t go with their ATM cards. So, it gives you the propensity to deploy cash whenever you need to make payments. So, I agree that cash is king, but in the definition of cash, V- bank is paramount in that definition. So, with V- bank, cash is still king to you and cash is in your hands and on your phone. When are we likely going to see VFD Group listed on the Nigerian Stock Exchange? Currently we are listed on NASD and incidentally we also invested in the NASD this year. We are quite excited about what the NASD is doing and we think that they hold great opportunities and we are very optimistic that the current leadership of the NASD understands the market and understands what the players want and if they are true to the innovation that they have pledged, we might not need to list on the NSE. We would probably maintain our listing on the NASD. Currently, our shares are being traded freely and we are excited and satisfied with the level of liquidity that exists on those shares. People have exited and people have invested. We think that the NASD can deliver on what we want. That said, if the need of our investors tilts towards the NSE, of course we continue to execute the plan which we had, which is to get listed by 2022. What is your projection for the VFD Group in the next ﬁve years? In the next five years, we see the VFD Group as a leading Nigerian investment company with interest in key sectors and key industries in the Nigerian economy. Beyond five years, we see the VFD Group within the next 10 years as a leading African company with a replication of the successes that we expect to achieve in Nigeria across key locations in Africa. And your projection for the Nigerian economy in 2021? I am usually very reluctant to make economic predictions. But as a businessman I can sense the mood, I can sense the sentiments within the economy and I can read trends. My general assumption is that in 2021, we would see some substantial recovery on the losses that occurred in 2020. So, if I am to make decisions based on that, I would embrace opportunities and investment considerations that come my way in 2021. Of course, key to this is the fact that the roll back of the COVID-19 has started and with the success of the vaccination that are ongoing in some western countries and ultimately would start coming down to our locations, we expect that the scourge of the pandemic would start to be better managed. And once that is done, the restrictions that had occurred in the last nine months would be lifted and we would expect better trends in 2021.

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TonyElumeluFoundationPledgesSupportforAfrica’sEconomicRecovery Obinna Chima The Tony Elumelu Foundation (TEF) has explained that the opening of the application portal for its entrepreneurship programme on January 1, 2021, was to empower young entrepreneurs in the continent so that they can contribute the recovery of economies in the continent that had been ravaged by the COVID-19. Speaking during a virtual media briefing at the weekend, the Chief Executive Officer, TEF, Ifeyinwa Ugochukwu, said 2021 marks the seventh edition of the

entrepreneurship programme. According to her, till date, the Foundation has trained, mentored and funded just over 9,000 African entrepreneurs. According to her, the world understands that Africa is critical to the recovery of the global economy from the pandemic. “We are also excited to say that PwC in conjunction with our Foundation has just completed an impact assessment report which would be released in the first quarter, to mark our 10-year anniversary. So, there is a lot happening in our Foundation,” Ugochukwu said.

She explained that shortly after the application portal for 2020 closed, the COVID-19 lockdown took place across Africa and the entire world. “We knew that we could not continue with the programme at that time because most people were under strict lockdown and there were no movements in their country. “Most of our entrepreneurs often times needed to go to schools, business centres or offices to have access to the internet to take the programme. So, we decided to postpone the programme to 2021. “Now, we

all know that Africa had to bear the brunt of the health impact of the COVID-19 pandemic. But for the economic impact, some people have said that Africa is the epicenter of the economic impact of the COVID-19 pandemic and the SMEs, which are the heartbeat and lifeblood of economies in Africa, is on the frontline. “Most SMEs do not have the shock absorber that the bigger organisations have. And that is why it has never been more urgent than now, to deepen and expand the work that the TEF does in empowering African entrepreneurs. That is why for

us, opening the application portal January 1, 2021, marked a new beginning. It marked the renaissance and the beginning of recovery; and the beginning of Africa really taking its place in the global stage,” she added. She further explained that from those that applied in 2020, the Foundation would still select 1,000 entrepreneurs who would be funded. “Now, for the 2021 applicants, the world understands that Africa is critical to the world’s economic recovery from the pandemic. And that is why we have partnered with the European Union to fund

and train an additional 2,400 women on the TEF Entreprenuership Programme for 2021. “This is in addition to many other partnerships that we have been running through the years with the likes of the United Nations Development Programme as well as the ICRC. For us, we have put up a call to action for all development organisations, for African government and foreign governments that, now is the time to scale and expand the work that we have been doing in empowering African entrepreneurs with capacity building and the much-needed seed capital funding.

Akwa Ibom Seeks Legal Framework on Ibom Industrial City Okon Bassey in Uyo The Akwa Ibom State Government has sought legal framework on the establishment of the Ibom Industrial City at the Ibom Deep Sea Port. Rising from its State Executive Council meeting, the state government noted that the creation of a legal framework to establish the Ibom Industrial City would help harness the benefits set to accrue from the Deep sea port and the concomitant industrial city. Accordingly, the Council directed that a memo be forwarded for a bill on the establishment of the Ibom Industrial City to the State House of Assembly for legislative action. “This industrial city is planned to strategically assist the maximization of the benefits of the approved seaport. “The memorandum for the approval of site and prerequisite

matters for the construction of a mass housing estate in partnership with the Central Bank of Nigeria and Family Homes Funds limited was discussed and council directed the Commissioner for Housing to facilitate the quick commencement of the mass housing scheme,” it stated. The State Commissioner for Information and Strategy and Strategy, Ini Ememobong, said Council also received the report of the state of schools in preparation for resumption from the short Christmas break, in line with the current spike of COVID-19. The State Commissioner for Education was directed to ensure that all COVID-19 preventive guidelines were adhered to by all the schools; and equally directed that the construction of fence be immediately commenced in all schools in Uyo metropolis, to help with security of infrastructure in schools.

Again,SamsungHeavyIndustries’ JVGetsISOCertifications Peter Uzoho Barely two years after SHI-MCI FZE fabrication and integration yard, a joint venture company of Samsung Heavy Industries Nigeria Limited (SHIN), was certified as International Standards Organisation (ISO) 9001:2015 and ISO 29001:2010 compliant, the company has obtained ISO14001:2015 and ISO45001:2018 certifications. SHI-MCI yard located in Lagos had grabbed global attention in the offshore oil industry when it successfully hosted the Egina Floating Production Storage and Offloading (FPSO) unit, the world’s largest FPSO, which was fabricated and integrated at the facility. The latest certifications will boost the company’s chances of securing more jobs and carrying out the highest quality and reliable works for the oil and gas industry. Commenting on the latest certifications, the Senior Health Safety and Environment Manager of SHI-MCI, Mr. Bala Adjuya, said the certifications were in line with SHI’s tradition of maintaining excellence in global operations. He disclosed that SHI-MCI FZE applied to be assessed and certified to these ISO Standards to ensure that its operations in Nigeria are aligned with the global best practices, which the shipbuilding giant is noted for.

“The certifications will ensure that procedures are followed as described in documentation; it helps in ensuring that operations are not carried out in ad hoc manner but in a systematic and organised way to conform with the improved systems and procedures that our parent company in Korea is known for. “This will strengthen and sustain the confidence that Shell, Chevron, Agip, ExxonMobil and other international oil companies have in our operations as our clients or potential clients because they know that our processes meet international requirements. “This is because in prequalifying documents for new jobs they ask if their contractors are certified to these standards. Achieving ISO Certifications puts SHI-MCI in better standing because clients and potential clients will have better confidence and assurance that SHI-MCI FZE is certified to these same standards that are recognised worldwide and to the standard of the parent company in Korea,” he explained. Samsung Heavy Industries invested over 270million dollars to construct SHI-MCI FZE, the only FPSO fabrication and integration yard in Africa. The yard had earlier established itself internationally by securing best-in-class 9001:2015 and ISO 29001:2010 certifications.

HONOUR WELL DESERVED

L-R: Chairman, Nigeria Institute of Public Relations (NIPR), Lagos State Chapter, Segun Mcmedel; General Secretary, Thelma Okoh; Legal / Corporate Aﬀairs Director, International Breweries Plc, Temitope Oguntokun; and Company Secretary / General Counsel, Muyiwa Ayojimi, receiving the award for Best Company in Infrastructure Development won by International Breweries Plc at the SERA awards ceremony held in Lagos...recently ETOP UKUTT

NECA Hails Presidency, NASS over 2021 Budget Signing Chris Uba The Nigeria Employers’ Consultative Association (NECA) has applauded President Muhammadu Buhari and the leadership of the National Assembly over the timely passage and signing of the 2021 Appropriation Bill and the Finance Bill 2020, into law. The implementation of the fiscal policies commenced January 1, 2021. NECA, however, expressed concern over achieving revenue generation projection, noting that this has been a bane of the present administration. NECA stated in a statement by its Director-General, Timothy Olawale, that particularly, “noticeable in the signed budget was a revised budget expenditure of N13.59trillion, which is higher than

the N13.08 trillion earlier presented by Mr. President to the National Assembly, with no changes in the revenue component of the budget.” In the 2021 budget, the federal government projected aggregate expenditure of N13.59 trillion, indicating 26 percentage change over 2020 Budget of N10.81trillion. Similarly, the revenue projection for 2021 was N7.88 trillion, which is 35 per cent over 2020 figure of N5.84trillion, leaving N5.71 trillion deficit. According to NECA DG, “achieving revenue generation projection have been a bane of the current administration, closing out at about 50 per cent over the past five years, is becoming worrisome, which calls for more drastic drive in achieving the set

targets.” The 2021 Budget, which was tagged, “The Budget of Recovery and Resilience,” was premised on the ravaging effects of COVID-19. Furthermore, NECA stated, “the assumptions for 2021 budget included the price of oil at $40 per barrel from the revised 2020 budget of $28 per barrel, oil production at 1.86 million barrels per day, the exchange rate of N379 to US$1 and a projected a Gross Domestic Growth of 3 per cent, which is very optimistic, which we believe is contradictory to the projection of the Central Bank of Nigeria (CBN) of 2 per cent growth for 2021. “Inflation rate projected at 11.95 per cent could be achieved with drastic and concerted measures in stimulating aggregate demand by

the fiscal and monetary authorities. In our opinion, we projected the GDP growth of 1.5 per cent - 1.8 per cent and inflation rate tamed around 13-14 per cent will close the year.” “We call for a comprehensive and deliberate management of the second wave of the COVID-19 in order to reduce the health and economic burden on the economy, as the major concern for the public has always been on the implementation of the Budget, considering the uncertainties the Pandemic has caused. “We opined that the general volatility associated with oil prices and the ability to meet budgeted daily crude oil production will challenge the ability of the Federal Government to meet its revenue targets.

United Capital’s 96% Price Gain Excites Shareholders Goddy Egene Some shareholders of United Capital Plc have said the resilience in the financial performance of the company has continued to lead to high demand for the shares of the company. United Capital Plc, an investment banking group, closed 2020 as the seventh highest price gain for year. The stock appreciated by 96.2 per cent from N2.40 to N4.71. Owing to this, shareholders said the performance of the company despite the difficult operating environment, has raised hope for dividend, hence the demand for the stock, which pushed its price by almost 100 per cent, outperforming the Nigerian Stock Exchange (NSE) All-Share Index. For instance, Mr. Moses Igbrude, said although United

Capital Plc operates in the financial sector that witnessed headwinds, the board and management of the company have ensure the company record improved results. “United Capital Plc has shown significant resilience, reporting improved results despite the headwinds in the financial sector, where it operates. This performance is a strong indication that in the midst of the challenges, the company has been able to sustain a positive performance as at the nine months ended September 2020. This is good news for any investor that expecting dividend because it very likely that the company would end the year with dividend,” Igbrude. United Capital Plc had grown its gross earnings for the nine months ended September 30,

by 33 per cent to N7.07 billion, from N5.32 billion in the corresponding period of 2019. Profit before tax (PBT) rose 26 per cent to N4.12 billion, from N3.27 billion in 2019, while profit after tax grew by same margin from N2.75 billion to N3.46 billion. Commenting on the results, the Group Chief Executive Officer (CEO), Mr. Peter Ashade, had said: “Notwithstanding the challenges the group has remained nimble. We continued to implement our business growth and continuity plans premised on a solid risk assessment framework to ensure we remained focused on providing best-in-class solutions to all client segments. These contributed to the impressive growth across our businesses leading to 33 per cent growth in revenue and 26 per cent increase in both PBT and PAT during the nine-month period.

According to him, going into the last quarter of the year, they were encouraged by the increasing market confidence in their brand even in the wake of the most globally devastating pandemic of the last century. “We know the operating environment is turbulent, but we are committed to deliver superior returns to our shareholders, as we drive growth and profitability across all our businesses,” Ashade said. He said in line with their initial strategy for the 2020 business year, “we shall continue to push further our market diversification and cost-optimisation initiatives as well as implement phased automation of our business processes whilst upholding our commitment to ensuring a significant improvement in our value delivery to all our stakeholders.”

MONDAY JANUARY 4, 2021 •T H I S D AY

MONDAY JANUARY 4, 2021 • T H I S D AY

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BUSINESSWORLD

NEWS

‘Nigeria Can Only Benefit from AfCFTA with Improved Infrastructure’ David-Chyddy Eleke in Awka The Lawmaker representing Nnewi North, South and Ekwusigo Federal Constituency, Engr. Chris Azubogu, has said Nigeria can only benefit from the African Continental Free Trade Area (AfCFTA) which became effective on January 1, 2021, if she improves on her infrastructure. Azubogu, who spoke when

a group of indigenous Nnewi businessmen paid him a New Year visit in his country home in Nnewi, Anambra State, said when the continental pact commences, Intra-African trade will enable 90 per cent of all goods coming into the country become tariff-free for the countries that have deposited their instruments of AfCFTA ratification. He said with all the African

countries, except Eritrea, participating, the AfCFTA would have the largest number of member countries in any trade deal since the formation of the World Trade Organisation. Azubogu said, “We must speed up investment on targeted infrastructural facilities that will crash cost of local manufacturing and movement of goods in order to compete favourably in the coming of

AfCFTA. “The AfCFTA trade Agreement present a market consisting of 1.2 billion people and a combined GDP of $3 trillion with 54 of the 55 African Union member states and we have to do everything possible to crash the cost of manufacturing and distribution as a people in Nigeria in order to benefit from this new deal. “This is not a time for cel-

ebration, but a time to put up framework that will make our country’s economy to benefit from this 1.2 billion market. We have to prioritize Industrial Development Infrastructure. “We must put human and physical Infrastructure that will turn our huge population as a productive assets in order to benefit from AfCFTA. We have to put framework that will protect jobs and put us in

a strategic position as a country that will benefit from AfCFTA deal and not to be a dumping ground with the coming of AfCFTA. We have also to prioritise skill manpower development as a country,” Azubogu said. He urged Anambra State to key into this 1.2 billion market in order for the state to benefit from AfCFTA new trade deal.

‘Nigeria Has Potential to Compete in Global ICT Development’ Emma Okonji The new Permanent Secretary, Federal Ministry of Communications and Digital Economy, Mr. Festus Yusuf Daudu, has said Nigeria has the potential to compete with developed countries of the world like the United States of America, United Kingdom, and Russia in the area of Information and Communications Technology (ICT) sector based on available human resources in the country. He said this during the official handing over ceremony between him and the former Permanent Secretary, Mr. Musa Istifanus, which took place during the weekend at the Ministry’s headquarters in Abuja. According to Daudu, “Nigeria has passed the stage of comparison in the area of ICT with other developing countries within and outside the region. Nigeria should be competing with the likes of the United States of America, United Kingdom, and Russia.” He said the renaming of the Ministry as Ministry of Communications and Digital Economy was designed to be in line with global development, noting that Nigeria cannot be left behind in the ICT world.” “The world is moving forward, we need to move with the globe,” Daudu said.

He requested for maximum cooperation from the management staff of the ministry and urged them to work as a team in order to achieve the mandate of the ministry for digital Nigeria. According to him, “A tree cannot make a forest. You need a collection of trees to produce a forest and I believe that all of you seated here are a collection of diverse human resources require to make the Ministry of Communications and Digital Economy achieve its mandate.” He noted that finances were the most difficult challenges in the system and urged the staff to maximise the little available in order to achieve the ministry’s numerous policies and programmes for digital Nigeria. The former Permanent Secretary, thanked the management and staff of the ministry for their cooperation and support in the implementation of the policies and programmes of the ministry. He said the new challenges before him now would be how to use the experience he acquired in the ICT sector and collaborate with his counterpart in the Ministry of Communications and Digital Economy to promote surveillance technology that would enhance the efficiency of Nigeria troops in cubing the issues of kidnapping, banditry, and terrorism in the country.

Ufot Heads Ibom Hotel and Golf Resort Board A seven-member board to oversee the affairs of Ibom Hotel and Golf Resort has been inaugurated with Mr. Udeme Ufot MFR as Chairman. According to a statement, inaugurating the board on behalfw of the State Governor, Udom Emmanuel, recently, the Secretary to the State Government, Dr. Emmanuel Ekuwem, charged members of the board to ensure that the hotel meets the aspirations of the government and people of Akwa Ibom State in terms of optimal performance and revenue generation. He stressed the need for the board to work in synergy with management for optimal productivity of the hotel. He also urged the board members not to attempt to usurp the functions of the management. Ekuwem, expressed confidence that members of the board would bring their wealth of experience to bear in the discharge of their duties by providing effective guidance and leadership to management towards ensuring quality services

that will attract patronage and generate revenue for the state. “There could be no better choice of Chairman for the hotel than Udeme Ufot who is a distinguished professional and businessman, recognised nationally and internationally as a marketing communications professional of repute. “He brings to the assignment a triple value of passion for the hotel, understanding of the industry and professional marketing savvy. He would also be the perfect bridge between the hotel management and the state government. The Governor therefore expects the very best from him,” the SSG stated. Icon Hotels and Resorts Nigeria, the Nigerian subsidiary of Icon Hotel Group Africa (IHGA), a pan-African hospitality giant was recently appointed to turn around the fortunes of the hotel. Responding on behalf of the board members, Ufot expressed appreciation to Emmanuel for the privilege to serve the state, and the confidence reposed in him and the members of the board.

PROMOTING INNOVATION

L-R: Marketing and Communications Manager, Ultimus Holdings, Colette Amaeshi; President/CEO, Dr. Ifeanyi Odii; Lagos State Commissioner for Physical Planning, Dr. Idris Salako; Vice President/CEO, Ultimus Holdings, David Ewemie and the Assistant General Manager, The Classroom, Nnamdi Azike during the launch ofThe Classroom by Ultimus in Lagos …recently SUNDAY ADIGUN

Mark Flags Off Construction Hamilton & George to Play of Rural Roads in Bauchi Big in SMEs, Energy Sectors Segun Awofadeji in Bauchi The former Senate President, David Bonaventure Mark has emphasised the need for an inclusive governance that has welfare of the citizenry at heart for democracy to thrive in the country. Similarly, the former President of the Senate also commended the Bauchi State Governor, Bala Mohammed for embarking on road constructions in the state, saying that he has replicated the same legacy in Bauchi state when he was Minister of the federal capital territory. Mark, who made the assertion while flagging off the construction of three rural roads in Bauchi recently, advocated that for construction of accessible roads particularly to open up rural communities . The roads include the construction of Warji-Gwaram, Bogoro-Lusa and Boi-Tapshin. While speaking at the ceremony held in Katanga Warji for the construction of the 13.5km Warji - Gwaram rural road, the two term President of the Senate said opening up the rural areas would bring development closer to the people. Mark recalled that when Governor Mohammed was a senator during his tenure as President of the Senate, he always made constructive and nationalist contributions in the National Assembly, adding that he was not surprised that he had achieved so much feats within

a limited time in his first year in office. “I did not hesitate to accept the invitation for the flag-off of road construction projects in Bauchi State, because I know who was inviting me. As most of you will understand, you have only one boss, but when I was the president of the Senate, the senators were my bosses because if you don’t allow them to be your bosses, they will remove you in no time. They did not remove me for eight years because they were my bosses” “When you see a Governor of a state like Bauchi, that has limited resources, accomplishing so much, you begin to wonder where he is getting the funds from. I have asked him, how does he get the funds? But I am not surprised because he was a radical personality when he was senator and he has now become my Governor. So I am not surprised that he is doing very well” he said He, therefore, commended Bauchi State Governor for embarking on construction of roads particularly rural roads urging him to do more until all rural communities were linked up to development. Bauchi State Governor, Sen Bala Mohammed Abdulkadir in his speech declared that roads are pivotal to development because accessibility is key to effective governance the more reason his administration has embarked on massive construction of roads across the state.

Goddy Egene Hamilton & George Limited (H&G), a full-service investment bank that provides services in proprietary investments, advisory and corporate finance, has said it will focus significant attention on the small and medium enterprises (SME) space in 2021, considering that is the engine room of every economy. The Co-founder/Director, H&G, Mr. Joseph Edgar, stated this in his message to staff and shareholders of the company, noting that the SME space will have their attention because the over 18 million players in the sector need expert advice which his company is willing to offer. “This is why working with strategic partners, last year, we organised the private equity conference which pulled in the Nigerian Stock Exchange (NSE), NASD Plc and the FMDQ Group Plc and had over 500 Nigerians and firms in attendance,” he said. Looking back at 2020, Edgar said H&G, like most firms entered last year with enthusiasm and vigour as the economy was showing promise and all indicators although not robust were promising. He said: “We moved strongly into the energy sector clinching some of the most sought after mandates. Digging deep into our mandate and relationships, advising on the $40 million FPSO transaction which remains a cornerstone in the industry. We also held down

the real estate sector working very closely with our clients clinching and retaining mandates in excess of N10 billion.” However, “the year wore on sluggishly from the effects of the COVID-19 pandemic which pushed the economy into a tepid mode culminating in a recession officially announced last quarter of 2020. We maintained course, witnessed reduced revenues which impacted negatively on income and projections,” he said. According, him, despite the challenges, the organisation did not lay off any staff, rather it kept its promises to staff and moved operational base to a much more auspicious office complex. “As the year came to an end heralded the birth of a new year we remain overtly optimistic. The macro-economic environment is looking gloomy. Inflation is double digit with no sign of letting up, the naira continues to take a bashing and inconsistent public policy pushing more uncertainty into the economy. The pandemic is also not letting up with daily infections regularly crossing the 1000 mark. “Despite this, our firm has identified critical growth areas that we will be pushing. While deepening our stake in the energy and real estate sectors, we would aggressively move into Fintech by backing the Beetle initiative. Leveraging on technology and retail market, this push should deliver over 100,000. Nigerians within our space in the next 12 months,” he said.

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SMEs, Power, Environmental Sustainability and Economic Growth Martins Arogie and Kelechi Inyama Background/Introduction Small and Medium Scale Enterprises (SMEs) are the backbone of any country’s economic development as it is almost impossible to achieve sustained economic growth which would reflect in the overall wellbeing of the populace without the existence of thriving SMEs. It is therefore important that we formulate policies which take this key economic constituency into consideration when planning for economic growth and development. This fact has not been lost on the current Federal Administration which has over the last eighteen (18 ) months made significant fiscal and regulatory changes to incentivisze the SME sector. Some of these changes include: r&YFNQUJPO PG JODPNF GSPN $PNQBOZ *ODPNF 5BY $*5 QSPWJEFE UIBU SFMFWBOU SFUVSOT BSF àMFE which show that the revenue earned in the preceding financial year was less than NGN25 million. r&YFNQUJPO PG 4.& JODPNF GSPN NJOJNVN $*5 QSPWJEFE UIBU UIF HSPTT UVSOPWFS FBSOFE in the relevant year of assessment is less than NGN25 million. r3FEVDFE $*5 SBUF PG QFS DFOU GPS B medium-sized company which earns gross turnover greater than NGN25 million but less UIBO /(/ NJMMJPO BT PQQPTFE UP UIF $*5 SBUF PG QFS DFOU GPS CJHHFS DPNQBOJFT r&YFNQUJPO GSPN UIF PCMJHBUJPO UP àMF DIBSHF and pay Value Added Tax (VAT) in any year where revenue does not exceed NGN25 million. Naira. r&YFNQUJPOT GSPN UIF SFRVJSFNFOUT UP VOEFSHP a statutory audit and appoint a company secretary if the company’s turnover and net assets do not FYDFFE /(/ NJMMJPO BOE /(/ NJMMJPO respectively. The above incentives are extremely commendable and are a step in the right direction if Nigeria wants UP EFWFMPQ B GPSNJEBCMF 4.& TFDUPS )PXFWFS JU TIPVME OPU CF UIF FOE 5IJT BSUJDMF UIFSFGPSF considers what more can be done to assist the sector in its path to sustained long-term growth. One bane of most SMEs is their lack of formaliszation and records. SMEs typically operate as unincorporated and maybe unregistered entities with no record of their existence to the relevant Government authorities and regulators. A lot of SMEs also do not have dedicated bank BDDPVOUT TFQBSBUF GSPN UIBU PG UIF PXOFS BOE UIVT it is always difficult to separate the entity from JUT PXOFS 5IJT JO UIF PQJOJPO PG UIF BVUIPST has impacted their ability to plan for growth as there is very little data with which to assess the CVTJOFTTFT JO UIJT TFDUPS JEFOUJGZ QSPCMFN BSFBT and strategise on how to deal with it. A lot of these are therefore left to perception BOE FYQFSJFODF XIJDI UIPVHI WFSZ JNQPSUBOU has its limits in today’s world where empirical data is key. It was therefore a master stroke when the Federal Government of Nigeria (FGN or “the (PWFSONFOUu XIFO JOUSPEVDJOH UIF $*5 FYFNQUJPO HSBOUFE UP 4.&T VOEFS UIF 'JOBODF "DU '" JODMVEFE B QSPWJTP UIBU UIFTF DPNQBOJFT ought to prepare and file tax returns as a basis to accessing the exemption. This ordinarily should influence SMEs who wish to enjoy the tax exemption to maintain BEFRVBUF SFDPSET UIBU XPVME FOBCMF UIFN UP file these returns. The importance of these records go beyond tax DPNQMJBODF UIPVHI BT UIF 4.&T XPVME BMTP CF able to access debt and potential investors if they are able to provide the relevant information which show the financial position of the business. The existence of such records also avails the business owners’ data with which they can make short and long-term plans for business sustainability and growth. Incentive or Enforcement This challenge may persist. Only entrepreneurs or companies which pay tax originally would benefit from an exemption. $PNQBOJFT BOE FOUSFQSFOFVST XIP BSF OPU tax-compliant may not appreciate the exemptions BOE TP NBZ OPU DIBOHF UIFJS CFIBWJPS 5IFSFGPSF UIF SFBM RVFTUJPO JT IPX NBOZ 4.&T QBZ UBYFT This does not consider those who pay a presumpUJWF UBY UP UIF SFMFWBOU 4UBUF *OUFSOBM 3FWFOVF 4FSWJDF 4*34 XIFSF UIFZ BSF MPDBUFE BT UIFTF presumptive taxes are typically not a function of activity or records. Presumptive taxes are a WJBCMF TPVSDF PG DPMMFDUJPO GPS UIF 4*34 CVU UIF jury is out on their long term productive impact on businesses.

"OPUIFS QFSUJOFOU RVFTUJPO JT IPX NBOZ 4.&T know their annual turnover or can say with any certainty what their biggest expense line is and what they are doing to mitigate and or manage JU "T QPJOUFE PVU FBSMJFS B MPU PG UIFN EP OPU have business bank accounts and are primarily cash run businesses. They may therefore not be able to determine if the revenue-related exemption would apply to them. The gGovernment can attempt to change this narrative either by conducting more aggressive enforcement or designing a different kind of incentive. The argument against aggressive enforcement has always been its cost. These SMEs are innumerable and they are scatUFSFE BMM PWFS UIF DPVOUSZ TP JU XPVME SFRVJSF B significant amount of resources to actively identify and monitor them to ensure that they are at least DPNQMZJOH XJUI UIF PCMJHBUJPO UP NBJOUBJO BEFRVBUF books of accounts and file returns as and when EVF FWFO XIFO UIFSF BSF OP MJBCJMJUJFT UP CF TFUUMFE "MTP FOGPSDFNFOU JT OFWFS DPNQMFUF XJUIPVU BO BEFRVBUF EFUFSSFOU XIJDI XPVME UZQJDBMMZ CF either jail time or imposition of monetary penalties. )PXFWFS UIFTF GPSNT PG EFUFSSFOU NBZ POMZ serve to cripple the non-compliant companies who are identified rather than encourage voluntary DPNQMJBODF GPS BMM 4.&T *O GBDU TVDI BO BHHSFTTJWF approach may encourage non-compliant SMEs to play the waiting game until they are apprehended CZ UIF IBOET PG UIF MBX JG FWFS 0VS CFTU CFU UIFO may be to design a different form of incentive that FODPVSBHFT WPMVOUBSZ DPNQMJBODF 5IF RVFTUJPO JT XIBU JT MJLFMZ UP CF FGGFDUJWF The Power and or Environmental Sustainability Issue Power remains one of the biggest challenges faced by SMEs in Nigeria. An enduring sight of any complex which houses small businesses in UIF DPVOUSZ XPVME CF UIF BTTPSUNFOU PG TNBMM gasoline generators which render the air with B DBDPQIPOZ PG TPVOET GPS IPVST PO FOE " report by Dalberg and Access to Energy Institute JO +VOF TUBUFT UIBU UIF BWBJMBCMF DBQBDJUZ GSPN such gasoline generators is 8 times more than the available capacity from Nigeria’s grid with about 11 million SMEs relying on it for their primary source of power on a daily basis. The report also highlights the impact of the use of these generating sets on the environment vis-a-vis Nigeria’s ability to meet its stated objective of cutting its greenhouse gas (GHG) emissions CZ CZ BT B SFEVDUJPO JO UIF VTF PG UIF HFOFSBUPST NBZ DPOUSJCVUF VQ UP QFS DFOU of the planned reduction. It may therefore be necessary to consider a two-pronged incentive which will provide lasting benefits; address our desire to encourage more SMEs to formalisze their operations whilst taking us closer to meeting our objective of cutting the DPVOUSZ T ()( CZ QFS DFOU CZ Any incentive system designed must be set to address a problem otherwise it may end up being redundant. Power and environmental sustainability BT TFFO BCPWF BSF BDUVBM QSPCMFNT XIJDI SFRVJSF creative solutions.

The Solar System Solution One sure way of addressing the epileptic power challenge for SMEs would be to introduce solar TZTUFNT UP UIFTF FOUJUJFT $VSSFOUMZ UIF BWFSBHF solar system which can produce the same amount of energy obtained from a small gasoline generator DPTUT BDDPSEJOH UP UIF %BMCFSH " &* SFQPSU BCPVU UP UJNFT NPSF UIBO UIF DPTU PG QVSDIBTF BOE installation of a generating set. )PXFWFS JU JT MJLFMZ UIBU PWFS UIF NFEJVN UFSN FTQFDJBMMZ XJUI UIF SJTJOH DPTU PG HBTPMJOF UIF DPTU of running the generators would outweigh the TJHOJàDBOU BDRVJTJUJPO BOE JOTUBMMBUJPO DPTU PG TPMBS systems. It is however imperative to note that this long-term cost vs benefit argument is one that you would struggle to make to a small business owner who receives his revenue in trickles on a daily basis and may therefore be unable to accumulate UIF TJHOJàDBOU DPTU PG BDRVJSJOH UIF TPMBS TZTUFN Such business owner would rather incur the daily gasoline expense that is more aligned with its daily revenue profile than the significant one-off cost which may save more in the medium to long term. $POTFRVFOUMZ JU JT FWJEFOU UIBU UIF FOUSFQSFOFVS would need to be encouraged to go against his normal business philosophy in order to be able to shift from using a gasoline generating set to B TPMBS TZTUFN )PX EP XF QSPQPTF UP EP UIJT

to this though may be its impact on these large CVTJOFTTFT HJWFO UIBU UIFSF JT BMSFBEZ TJHOJàDBOU concern about the level of taxation for companies. It may therefore be preferable to make this voluntary but assign incentives such as tax deductible uplifts as stated above to encourage DPOUSJCVUJPOT UP UIF GVOET 5IJT XBZ FWFSZPOF wins from the initiative. The pool fund can be managed by an agency such as the Bank of Industry or any other relevant governmental agency.

Provide incentives to solar system providers A lot of the incentives in this space now are profit-based which rarely gets transferred to final consumers but are more likely to benefit the shareholders. The Government will therefore need to focus on cost-based incentives which seek to reduce the cost of these systems and are more transferable to customers. This hopefully XPVME SFEVDF UIF DPTU PG BDRVJSJOH TPMBS TZTUFNT BOE FOTVSF HSFBUFS BDDFTT UP 4.&T EJSFDUMZ PS through the pool fund. The Nigerian Economic Sustainability Plan (NESP) and the Nigerian Electrification Project (NEP) are both schemes put in place by the Government to improve access to energy with the provision of reliable power to 5 million JOEJWJEVBMT BOE 4.&T SFTQFDUJWFMZ These schemes seek to provide significant Set up an acquisition fund pool Nigeria is a developing economy and it may concessionary funding to players in the OPU DVSSFOUMZ CF GFBTJCMF UP SFRVJSF IJHI industry with a view to driving down cost energy demand users to shift completely and affordability of the systems. 5IF UXP QSPOHFE TPMVUJPO àOBODJOH GPS to renewable energy as a source of power. The economics of such a shift may impact QSPWJEFST BOE CVZFST NBZ UIFSFGPSF CF JUT WJBCJMJUZ FTQFDJBMMZ XIFO ZPV DPOTJEFS sufficient to tilt the scale towards a more UIBU IZESP BOE HBT UVSCJOFT NBZ HJWFO UIF sustainable system. QFDVMJBSJUZ PG PVS FOWJSPONFOU CF NPSF Conclusion economically viable sources of high demand It is important to state here that the intropower today. $POTFRVFOUMZ JG UIF H(PWFSONFOU JT UP duction of this system does not only benefit stand a chance to meet its GHG reduction SMEs and the environment. The removal of UBSHFU PWFS UIF OFYU ZFBST JU NBZ CF CFUUFS the bulk of the SMEs from the grid releases grid served to focus on small scale users who power for the high demand users who already JU DBO JODFOUJWJT[F UP NPWF UP SFOFXBCMFT pay a higher tariff with very low collection losses. This therefore increases profitability and cash flow specifically solar systems. The FGN can seek to establish a synergy positions of the on-grid players and thus impacts between these high energy demand users on the long-term sustainability of the grid system. The issue of formaliszation of SMEs in Nigeria and the SMEs through the creation of a SME TPMBS TZTUFN BDRVJTJUJPO GVOE 5IJT GVOE is one which has remained critical to their growth would be accessed by SMEs which meet BOE VMUJNBUFMZ UIFJS DPOUSJCVUJPO UP FDPOPNJD TQFDJGJFE DSJUFSJB POF PG XIJDI XPVME CF UIF development in the country. It is therefore necessary LFFQJOH PG BEFRVBUF CPPLT PG BDDPVOUT GPS for us to continue to consider how we can UIF QVSQPTF PG BDRVJSJOH UIF TPMBS TZTUFNT address this issue. Environmental sustainability The disbursed amounts may be treated is also a pertinent concern which is critical as grants rather than loans for the SMEs not only to Nigeria but the world at large. while the contributors would be issued with $POTFRVFOUMZ JG UIFSF JT BOZ TPMVUJPO XIJDI BEESFTTFT CPUI JTTVFT XJUI POF TMJOH PG UIF CPX a certificate evidencing their donation. The certificate would be capitaliszed by then it behooves on the Government to take active contributors and can be amortiszed in the year in steps to study that solution and come up with XIJDI JU JT FBSOFE QMVT B QFS DFOU VQMJGU GPS detailed policies and execution plans. tax purposes which reduces their tax obligations. t.BSUJOT JT B 1BSUOFS BOE ,FMFDIJ B 4FOJPS It is possible to design a system which sets NJOJNVN DPOUSJCVUJPOT BOOVBMMZ IPXFWFS JU "EWJTFS GPDVTFE PO UIF 1PXFS 4FDUPS JO UIF may be advisable to base such on the relevant 5BY 3FHVMBUPSZ BOE 1FPQMF 4FSWJDFT %JWJTJPO DPOUSJCVUPS T SBUF PG $0 FNJTTJPO 5IF ESBXCBDL PG ,1.(

IMAGES

L-R: Father, First Baby of the Year, Oluwapelumi Fagade; his wife, Adesola Fagade; with Baby Akorede; and the Brand Manager, Mouka, Yemisi Obadina; during the presentation of gifts to the baby of the year by Mouka, at LASUTH, on January 1, 2021, in Lagos...recently

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Photo Editor ÌÓÙÎßØ ÔËÖË Email ËÌÓÙÎßØ˛ËÔËÖË̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×

L-R: Ekiti State Commissioner for Women Aﬀairs and Social Development, Alhaja Mariam Ogunlade; and Chairman, Ikole Local Government, Mr. Sola Olominua, presenting materials and a cash gift to Mrs. Faluyi Deborah, mother of the second baby of the year, at the Comprehensive Health Centre, Ikole-Ekiti...recently

L-R: Member, Security Committee, Lekki Estates Residents & Stakeholders Association (LERSA), Dr. MKO Balogun; Infrastructure Committee Chairman, Alh. Sulyman Bello; President of LERSA, Olorogun James O. Emadoye; Ajah Police Division, Ajiwe, CSP Oke Oluwashola; Area Commander , Area J, Ajah, ACP Olugbemi Gbolahan; Chairman, Security Committee (LERSA), Mr. John Ifoto and Member, Ekonne Francis, at the donation/presentation of Toyota Hilux vehicle to Ajiwe Police Station, Ajah, by LERSA in Lagos...recently PHOTO: ABIODUN AJALA

L-R: Head, personal and SME banking, Unity Bank, Opeyemi Ojesina; State coordinator, National Youth Service Corps, Eddy Megwa; winner, Unity Bank Copreneurship, Ejidike Vitalis; Assistant director, Skill Acquisition and Entrepreneurship Development (SAED), Nweke Stella Talatu; Head, corporate communications, Unity Bank, Devoe Okorie; and Divisional head, retail and businesses, Unity Bank, Funwa Akinmade at the Unity Bank Copreneurship challenge in Lagos...recently

L-R: Chancellor, Diocese of Lagos, Anglican Communion Church, Hon. Justice Adedayo Oyebanji; Diocesan Bishop of Lagos and Missioner, Anglican, the Rev. Dr. Humphrey Bamisebi Olumakaiye; his wife, Prof. (Mrs.) Motunrayo Olumakaiye; Registrar of the Church, Barr Olusegun Ajayi; and the Diocesan Legal Secretary, Mrs Temitope Toluhi, during the Church’s new year 2021 service at CMS in Lagos...recently PHOTO: KOLAWOLE ALLI

L-R: Director General, Public-Private Partnership, Rivers State, Mr. Eddy Mark; Governor of Rivers State, Nyesom Wike; Chief Operating Oﬃcer, Upstream-NNPC, Adokiye Tombomieye; Celebrant, Mrs. Priscilla Nwanediye Queen Mark; Governor of Sokoto State, Hon. Aminu Tambuwal; and Lead Consultant, Nuel Mark Group, Mr. Emmanuel Mark, at the 90th Birthday celebration of their Matriarch, Mrs Priscilia. Mark in Port Harcourt...recently

The Old Ota Road, Oke-Odo, Lagos, littered with Refuse waste...recently

MONDAY JANUARY 4, 2021 • T H I S D AY

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CITYSTRINGS

Group Features Editor: Chiemelie Ezeobi ×ËÓÖ ÍÒÓÏ×ÏÖÓÏ˛ÏäÏÙÌÓ̶ÞÒÓÝÎËãÖÓàÏ˛ÍÙ×˜ ͙͔͙͚͚͓͖͑͑͑͒

He Who the Cap Fits Chiamaka Ozulumba writes that Professor Kingsley Chiedu Moghalu, former Deputy Governor of the Central Bank of Nigeria and a presidential candidate in the 2019 elections, was recently conferred by the Igwe of Nnewi, HRH Dr. Kenneth Orizu III with the traditional chieftaincy title of “Ifek’ego Nnewi” meaning “that which is greater than money”

Former Deputy Governor, Central Bank of Nigeria (CBN), Prof. Kingsley Moghalu with the Igwe of Nnewi, HRH Dr. Kenneth Orizu III after the former’s conferment with the Nnewi traditional chieftaincy title of “Ifek’ego Nnewi” (“that which is greater than money”)

Prof. Moghalu after his conferment

rofessor Kingsley Chiedu Moghalu, former Deputy Governor of the Central Bank of Nigeria and a presidential candidate in the 2019 elections, was recently conferred with the Nnewi traditional chieftaincy title of “Ifek’ego Nnewi” (“that which is greater than money”) by the Igwe of Nnewi, HRH Dr. Kenneth Orizu III. The title was conferred by the monarch of the 600 year-old hereditary kingdom at a colourful ceremony in Nnewi during Igwe Orizu’s 57th annual Ofala festival on December 28, 2020. With this recognition, Dr. Moghalu is now a member of the prestigious Body of Titled Chiefs of Nnewi, one of Nigeria’s most dynamic commercial towns. Igwe Orizu, 95 years old and Africa’s longest serving monarch having clocked 57 years on his throne, said that he conferred the Ifek’ego title on Moghalu “in recognition of your meritorious contributions to the development of Nnewi town”. Thousands of Nigerians reacted with passionate approval of Moghalu’s chieftaincy conferment on social media. “Big congrats to a great man, Prof. @MoghaluKingsley for his well deserved chieftaincy title as the Ifek’ego 1 of Nnewi. May you keep inspiring us. Greater years ahead, sir”, wrote Laz Ude Eze, a medical doctor, on Moghalu’s Twitter handle where he broke the news of his honour. “You are truly ‘greater than wealth’; a well-deserved award”, wrote Zakar Isma’il Ma’aji on Facebook. Participants at the Nnewi Ofala festival and observers more broadly consider Moghalu’s new title of “Ifek’ego Nnewi” profound in meaning, intriguing, and apt for this distinguished former United Nations diplomat, ex-central banker and new-generation politician. In a culture and society where hard work and other positive values were once respected but the new rich and politicians have largely abandoned core values, Moghalu’s title is seen by many as a straightforward rebuke of the worship of money and crass materialism. It fittingly comes from an accomplished global and national icon who inspires millions of young people across the country and possesses a strong record of integrity in public life. “This recognition matters to me”, Dr. Moghalu said in a statement he released after his traditional title investiture. “My new title is a strong statement of my values in life. Integrity matters more than money. In public service for the world and for my country, I have never compromised it. It matters what we teach our society and how we are remembered”, he said. “The recognition matters also because my traditional ruler showed appreciation for my humble contributions to my hometown community. This encourages me to remain on the track of service”. Kingsley Moghalu is a global leader whose

His certiﬁcate of conferment leadership has contributed to the progress of nations, societies and individual lives, and across domains ranging from economic policy, nation-building and international diplomacy to academia, politics and philanthropy. He is currently serving on a high-level special assignment for the United Nations Development Programme as the UNDP Special Envoy on Post-Covid Development Finance for Africa. In this role, the former CBN Deputy Governor leads a project team based in New York, to assess the fiscal stress imposed on African governments and economies by the COVID-19 pandemic, possible sources of domestic and international resource mobilization for African countries and, following consultations with African leaders and policymakers, make recommendations to UNDP and African governments on how the latter can recover from the devastating economic impact of the COVID-19 pandemic. As a Deputy Governor of the CBN, where he was headhunted by then Governor Sanusi Lamido Sanusi and appointed by President Umaru Yar’Adua in 2009, Moghalu successfully led the apex bank’s Financial System Stability (FSS) stability directorate, supervising a N17 trillion banking sector and extensive reforms that stabilized the sector after the global financial crisis of 2008. No Nigerian bank failed, and no bank depositor lost his or her money. As Deputy Governor for Operations later in his five-year tenure, Moghalu supervised

payment system reforms including developing and introducing the Bank Verification Number (BVN), and managed Nigeria’s $40 billion in external reserves. Following his stellar performance at the CBN, Kingsley Moghalu was appointed a Distinguished Professor of Practice in International Business and Public Policy at the Tufts University’s Fletcher School of Law and Diplomacy, one of the world’s elite graduate schools of international affairs, in Boston, USA. Although he no longer teaches full-time at the institution, he remains affiliated with it as a non-resident Senior Fellow in its Council on Emerging Market Enterprises. While teaching at Tufts University, Professor Moghalu became strongly dissatisfied with the rising levels of poverty in Nigeria. He left the ivory tower and launched a bold quest for the Nigerian presidency, running for president in 2019 on a strong policy and visionary platform as the candidate of the Young Progressives Party (YPP). But the charismatic and articulate Moghalu, who was broadly viewed as the most competent candidate in that election and drew support mainly from the youth and the middle class, seemed ahead of his time. He lost the election to the incumbent, President Muhammadu Buhari. In a national political space dominated by geo-ethnic calculations, it was also the widely held view in 2019 that it was still the turn of northern Nigeria to complete eight years in the presidency before

it could rotate to another geopolitical zone. With the development of the #EndSARS uprising by Nigerian youth and pressures for the next President of Nigeria to come from the Southeast region in the interest of equity and national stability, many observers believe that the former central banker and professor could be an ideal helmsman for Nigeria because he enjoys wide acceptability across the country, has the backing of many Nigerian youth, and shuns ethnic-based politics in favour of the politics of ideas and vision. Although mostly known in the public eye for his 2019 presidential bid and his earlier time at the CBN, most of Moghalu’s professional life was actually spent even earlier in the international civil service of the United Nations. In a career of nearly 17 years in the world body, he led teams that built back failed and broken nations like Cambodia, Croatia and Rwanda, and served at duty stations in those countries as well as the UN headquarters in New York and in Geneva, Switzerland where he was a high-ranking official of the World Health Organization and the development finance fund The Global Fund to Fight AIDS, Tuberculosis and Malaria. He resigned from the UN system at the end of 2008 and founded a global risk management and strategy consulting firm, Sogato Strategies S.A., in Geneva. Kingsley Moghalu obtained his doctor of philosophy degree in international relations at the London School of Economics, a master’s at The Fletcher School at Tufts University, and a law degree from the University of Nigeria, Nsukka. He also studied risk management at the UK Institute of Risk Management in London, and received executive education in macroeconomics, financial management, and leading economic growth at Harvard University, Wharton, and the International Monetary Fund (IMF) Institute. He has written several books on political economy, public policy, and international law and politics, and is a distinguished international keynote speaker at global forums. Despite his impressive global pedigree, Moghalu has remained connected to his local roots, a connection now strengthened by his recent elevation to the Nnewi Kingdom’s Body of Title Chiefs as the Ifek’ego Nnewi. In 2005, he established the Isaac Moghalu Foundation (IMoF) in memory of his late father Isaac Moghalu, a former Nigerian Foreign Service Officer. IMoF provides scholarships to indigent children and youth in Nnewi, supports the upgrade of educational infrastructure for schools in rural areas and urban slums, supports widows in the Nnewi community, and has provided skills training for women in Nassarawa and Kano States. The foundation is headed by Maryanne Moghalu, Kingsley’s wife of 26 years. They have four children.

MONDAY JANUARY 4, 2021˾ T H I S D AY

NEWSXTRA

Commissioner Charges AIB Staff to be Air Safety Conscious Chinedu Eze The Accident Investigation Bureau Nigeria (AIB-N) has enjoined its members of staff to maintain excellent delivery while investigating air mishaps to ensure safety of air transportation. AIB Commissioner, Mr. Akin Olateru, gave the charge in a statement by the General Manager, Public Affairs of the bureau, Mr. Tunji Oketunbi, yesterday in Lagos, stressing that air safety depends on the diligence of the workers. Olateru, who stated this in a New Year message, lauded the workers over the bureau’s performance in 2020 in spite of the challenges of the COVID-19 pandemic. He, however, enjoined them

to intensify their efforts to continuously build a world class and enviable institution while ensuring that focus, diligence and integrity remained their watchwords. The commissioner also encouraged intra-department and inter-department cooperation and teamwork within the organisation as each unit is important to a successful service delivery. “Self-evaluation and selfimprovement are also very important, as this is essential in ensuring everyone has a better understanding of the role they play within the organisation and how they can improve themselves to ensure continuous excellence in their service delivery,” he added. Olateru assured that personnel development and welfare as well

as the refinement of procedures and processes would remain a priority. “It is my view that job

satisfaction, equity and fairness are pivotal to high quality service delivery,” he said. On COVID-19 pandemic, he

reiterated that the crisis was yet to be over and advised everyone to comply with the relevant protocols, to stay safe, healthy

and productive. The commissioner wished the workers a safe, healthy and prosperous 2021

Probe Health Ministry for Missing N3.8bn, SERAP Tells Buhari A civil society organisation, SocioEconomic Rights and Accountability Project has urged President Muhammadu Buhari to direct anti-corruption agencies to probe allegations that N3,836,685,213.13 of public funds meant for the Federal Ministry of Health, teaching hospitals, medical centres, and National Food Drug Administration and Control (NAFDAC)are missing. In the letter also copied the Attorney-General of the Federation and Minister of Justice, Abubakar Malami and the Independent

Corrupt Practices and Other Related Offences Commission (ICPC), the organisation made this known in a statement titled, ‘Probe missing N3.8bn in health ministry, NAFDAC, others’, SERAP tells Buhari’, yesterday. SEAR in the statement signed by its Deputy Director, Kolawole Oluwadare, said the allegations are documented in Part 1 of the 2018 audited report released last week by the Office of the Auditor-General of the Federation. It also urged Buhari to

“investigate the extent and patterns of widespread corruption in the Federal Ministry of Health, teaching hospitals, medical centres, neuropsychiatric hospitals, National Health Insurance Scheme, and NAFDAC indicted in the audited report, and to clean up an apparently entrenched system of corruption in the health sector.” Part of the statement read, “Corruption in the health sector can cause serious harm to individuals and society, especially the most vulnerable sectors of the population.

These missing funds could have been used to provide access to quality healthcare for Nigerians and meet the requirements of the National Health Act, especially at a time of the COVID-19 pandemic. “Investigating and prosecuting the allegations of corruption by these institutions would improve the chances of success of your government’s oftrepeated commitment to fight corruption and end the impunity of perpetrators, as well as serve the public interest.

MONDAY JANUARY 4, 2021, ˾ T H I S D AY

NEWSXTRA

NUC: Postgraduate Medical Fellowship Not Equivalent to Ph.D Funmi Ogundare National Universities Commission (NUC), the regulator of the Nigerian University System (NUS), has declared that Fellowship of the National Postgraduate Medicine College of Nigeria (NPMCN) and other fellowships are not an equivalent to Ph.D degree. The NUC declaration has laid to rest the contentious argument among academic staff and university management that holders of the Fellowship do not need to go for doctorate programme because the Fellowship is an equivalent to Ph.D. Aside Fellowship of NPMCN, NUC said holders of the West African College of Physicians (WACP) or West African College

of Surgeons (WACS) or any other recognised foreign fellowship cannot be equated to Ph.D degree. The clarification of NUC may not be unconnected with recent argument by professors with fellowship that applied for the post of vice chancellor which one of the requirements is a Ph.D degree. “One of the issues on the front burner is the postgraduate training for medical academic, which has no clear cut-guidelines for masters and Ph.D programmes in the clinical sciences,” NUC observed. In a memo to a federal university, NUC informed the management that Ph.D degree has no other degree or certificate equivalent to it. NUC said: “For the avoidance

of doubt, holders of PhD must have gone through Bachelor of Science (BSc), Bachelor of Arts (B.A), Bachelor of Engineering (B.Eng) and Master of Science (MSc), Master of Arts (M.A.), Master of Engineering (M.Eng), or as the case may be in the relevant field.” In a circular to vice chancellors and the Registrar, National Postgraduate Medical College of Nigeria, dated March 3, 2020 and signed by the Director of Academic Planning of NUC, Dr. N.H.Saliu, the commission said it conferred with officials of the NPMCN and other critical stakeholders on the way forward in the delivery of quality medical education in Nigeria. He said after exhaustive

deliberation at series of meetings held between the commission and the management of NPMCN, stakeholders unanimously agreed to introduce Ph.D. programmes in the clinical sciences in the Nigerian University System, for the postgraduate training of interested medical practitioners and for their career progression, especially for those in the academia. The commission came out with criteria for Ph.D programmes in clinical sciences and it is opened to candidates with full Fellowships of either the National Postgraduate Medical College of Nigeria, the West African College of Physicians (WACP) or the West African College of Surgeon WACS or any other recognised foreign Fellowship.

Recalled that a current vice chancellor in the South-west was not shortlisted by the governing council three years ago because he had fellowship but the advert for the position states professors must possess Ph.D degree. THISDAY gathered that a recent case in point is the ongoing selection exercise to appoint a new VC for the Lagos State University (LASU). One of the shortlisted and recommended candidate, Prof. Olumuyiwa Odusanya, does not have Ph.D degree but a fellowship. Odusanya’s inclusion in the exercise by the Governing Council is generating ripples among academic staff on campus. The Academic Staff Union

of Universities (ASUU), two groups and one staff petitioned Governor Babajide Sanwo-Olu over the anomaly. A professor in LASU said there are glaring contradictions in the argument that seeks to equate the fellowship of the medical college with a Ph.D, arguing “the first has to do with the idea that there is a moratorium from the NUC, which allows those without Ph.D, but who possess the fellowship, to get their Ph.Ds by 2025.” “If indeed one is equal to the other, there would have been no need for a moratorium. Moratoriums are usually granted to a category of people who need to make up for an obvious deficiency.”

MONDAY JANUARY 4, 2021 ˾ T H I S D AY

24 HOURS...

COVID-19: Lagos Has Emerged from 2020 Stronger, Says Sanwo-Olu Set to inaugurate 377 projects Extends stay at home order for public servants Segun James Following the unprecedented challenges posed by COVID-19 pandemic, Lagos State Governor, Mr. Babajide Sanwo-Olu, has said the state has emerged from the challenges stronger and more confident. This is as that state is set to inaugurate 377 projects embarked upon before and after the COVID-19 restrictions. The governor stated this at the 2021 hybrid edition of the Lagos State Annual Thanksgiving Service held at Lagos House Ikeja, even as he noted that the challenges did disrupt the state’s economy while also crippling and threatened its existence. “As a state, we cannot but give unending praise to God, especially considering all the blows dealt to us last year. First there was the COVID-19 pandemic, of which our dear State has been the national epicenter, and then there was the incalculable violence and destruction we suffered during the course of protests hijacked protests in October 2020. “Either one of these two tragedies could have completely disrupted and crippled our economy and existence, but we survived both of them. And we did not only survive, we triumphed, and we can look back and say that we emerged from 2020 stronger and more confident about the inherent greatness and resilience of our state. “The theme of this year’s

thanksgiving service, In Everything Give Thanks, has been inspired by Psalms 50 verse 23, which says, “Whoever offers praise glorifies Me; And to him who orders his conduct aright I will show the salvation of God.” “It is a very pertinent theme and message, as it speaks to the need for us to continually be appreciative of the wondrous works of the Lord. Now even more than ever before, God deserves our fullest gratitude. “We are grateful not because everything has happened the way we would like it, but because in all things it is our responsibility to show gratitude. “We have gone through a very difficult year, battled a pandemic, lost loved ones, lost valuable property, been deprived of enormous economic opportunity, but we have come out on the other side, alive and inspired to face the future with faith and positive expectation.’’ He assured the people of Lagos that they are going to see renewed effort going into uplifting their welfare and living standards, saying over 377 projects slated for inauguration across the state over the next few months. Meanwhile, as the COVID-19 continues to ravage, Governor Sanwo-Olu has extended the stay-at- home order for all state Public Servants on Grade Levels 14 and below. The new order asked them to resume duty Monday, January 18, 2021 instead of today. The governor

Police Arrest 18 as Residents Protest Insecurity in Zamfara Michael Olugbode Angry residents of Shinkafi Local Government Area of Zamfara State took to the streets at the weekend to protest the security situation in the area. However, the state police command arrested 18 of the protesters for organising and partaking in an unlawful assembly. Shinkafi, like other parts of Zamfara, has witnessed several killings and kidnappings by bandits. The protesters attacked the palace of the Emir of Shinkafi, Muhammed Makwashe, and the residences of political appointees in the state, mostly those appointed to oversee peace dialogues with bandits in Shinkafi area. Zamfara has adopted a policy of engaging armed bandits in dialogue while making efforts to secure the state. Many Nigerians have condemned the policy, saying it encourages criminality. But the state government has defended it saying many kidnapped victims have been released due to the dialogue and some of the bandits have laid down their arms. Residents of the area, including some of the protesters, said the protesters used derogatory terms to accuse the state government and traditional rulers of underreporting their ordeals with the gunmen who frequently attacked their communities at will.

The protesters, who damaged the emir’s palace, also called for the termination of peace dialogues with the bandits and demanded weapons for self-defence. Residents said the latest protest followed the abduction of a popular community volunteer and vigilante, Sama’ila Lagga, who is said to have been a target of the bandits for a long time. The gunmen abducted Lagga at his residence in Shinkafi, on Saturday, leading to the violent protest. The residents called off the protest after a report that Lagga was abandoned by the gunmen at a riverine area in the outskirts of Shinkafi and the security officials took him to a hospital for medical attention, the source added. The police spokesperson in Zamfara, Muhammad Shehu, in a statement, said the police have arrested 18 of the protesters “for organising and partaking in an unlawful assembly, illicit demonstration and damage to public and private properties in Shinkafi.” He said the police recovered Dane guns, cutlasses and sticks from those arrested. Shehu said a team of police officers and repentant bandits responded quickly to Lagga’s arrest and rescued him. He was reunited with his family after he was debriefed, he said.

said that is part of moves to stem the tide of the second wave of the COVID-19 pandemic. The governor in a statement signed by the Head of Service, Mr. Hakeem Muri-Okunola, noted that the directive excludes

staff on essential duty as well as first responders, urging all public servants to stay safe and ensure continued adherence to all COVID-19 protocols in order to rid the State of the pandemic.

Muri-Okunola also urged all staff to join the virtual Y2021 First Work Day Prayer for all Public Servants in the State via Zoom platform with Meeting ID: 857 4418 2571; Password: 100200 from

7.45a.m on Monday, January 4, 2021. While maintaining that the service will hold online due to COVID-19, the HoS wished all staff a prosperous and fulfilling new year.

PRODUCT LAUNCH...

L-R: Managing Director, Leadway Tours, Ms. Ime Udo; TV Presenter, Ms. Lola Ogunbadajo; Chief Executive Officer, Discover Lagos, Ms. Folasade Opebiyi; Director, Cleartouch Design, Mr. Matthias Okala; and Director, IAP Building Solutions, Mr. Opeyemi Ibrahim, during the official relaunch of Discover Lagos, in Lagos....recently.

Lagos Schools Not Reopening Today, Says Ministry Segun James The Lagos State Government yesterday said a new date for public and private primary and secondary schools to resume in the state would be announced soon. Head, Public Affairs, Lagos State Ministry of Education, Mr. Kayode Abayomi, made this known in statement, explaining that schools in the state are not reopening on Monday, January 4, 2021, as earlier announced. According to him, the second wave of COVID-19 would be a major determinant for the reopening of schools in the state. He said, “Please, recall that the Ministry of Education earlier announced 4th of January as resumption date for the second term 2020/2021 academic session, but this has since been overtaken by the turn of events due to the recent waves of COVID-19

pandemic. “As a result of the spike in Coronavirus pandemic, Mr. Governor announced the indefinite closure of all schools. To this end, kindly be informed that a new date of resumption will be announced as soon as possible.” Also, following the increase in recorded cases of coronavirus, Lagos State Governor, Mr. Babajide Sanwo-Olu has directed all State Public Servants on Grade Levels 14 and below to continue working from home till Monday, January 18, 2021. Governor Sanwo-Olu who said the directive excludes essential duty staff, as well as first responders, enjoined all public servants to stay safe and keep adhering to all COVID-19 protocols in order to rid the State of the pandemic in the shortest possible time. Governor Sanwo-Olu’s directive

was contained in a circular issued by the Head of Service, Mr. Hakeem Muri-Okunola, to members of the State Executive Council and all heads of Ministries, Departments and Agencies on Sunday. The circular entitled “Re: Stemming the tide of the second wave of COVID-19 pandemic” also stated that the Year 2021 First Work Day Prayer Session for all public servants in Lagos State would be held virtually on Monday, January 4. “Sequel to Head of Service Circular Ref. No: CIR/HOS/’20/ Vol.1/139 of 18th December, 2020 on stemming the tide of the second wave of the COVID-19 pandemic in the state, it is hereby notified for general information that Mr. Governor, Babajide Olusola Sanwo-Olu has further directed all State Public Servants on Grade Levels 14 and below to continue

working from home till Monday, 18th January 2021. Expectedly, the directive excludes Essential Duty Staff, as well as First Responders. “Furthermore, while wishing all Staff, a prosperous and fulfilling Year, please be informed that the Y2021 First Work Day Prayer Session for all Public Servants in Lagos State shall be held in line with tradition on Monday, January 4, 2020. However, in keeping with COVID-19 Protocols, the session shall be held via zoom and live-streamed on Facebook. “In addition, all public servants are enjoined to stay safe and to keep adhering to all COVID-19 Protocols in order to rid the state of the pandemic in the shortest possible time. “All Heads of Ministries, Departments and Agencies are urged to note the contents of this Circular for compliance and give it the deserved Service-wide publicity,” the circular stated.

Okowa, Aniagwu Congratulate SSG at 50 Ugo Aliogo Delta State Governor, Dr Ifeanyi Okowa and his Commissioner for Information, Mr Charles Aniagwu, have congratulated the Secretary to the State Government (SSG), Mr Chiedu Ebie, on his 50th birth anniversary at the weekend. In a statement by his Chief Press Secretary, Mr Olisa Ifeajika, in Asaba, Okowa thanked Ebie for his outstanding contributions to governance in the state, especially when he was Commissioner for Basic and Secondary Education, and now, SSG. He remarked that Ebie, an astute lawyer, has brought to bear in the governance of the state, his experience from his distinguished career in the private sector as an entrepreneur and oil

and gas executive. Okowa urged him to sustain his contributions to state and humanity by enunciating more ideas and strategies that would lead to the efficiency and effectiveness of governance and sustainable development of the state. He acknowledged Ebie’s sound knowledge of governance, saying “with his core competences in strong leadership and execution skills, Ebie has brought his wealth of experience to bear by providing leadership towards the attainment of the Stronger Delta agenda of our administration. “Over the years, your sound and unblemished leadership style as an industry player has endeared you to many Deltans and Nigerians.

“As Secretary to State Government, you have exhibited absolute knowledge of your core responsibilities with your robust coordination of government in the state. “We appreciate your role in the revamping of schools sports through the Zenith Bank Delta Principal’s and Headmaster’s Cup under your tenure as Commissioner for Basic and Secondary Education.’’ “On behalf of the government and people of Delta, I congratulate you, my dear brother and friend, Mr Chiedu Ebie, on the occasion of your 50th birth anniversary, Okowa said. On his part, Aniagwu in a statement, described Ebie as an outstanding professional whose accomplishments in private and

public service were laudable and worthy of emulation. He said the state scribe has contributed immensely to the realisation of the Smart and Stronger Delta agenda of the Okowa led administration in the state. He commended him for his laudable contributions towards the growth of grassroot sports in the state. “On behalf of my family, the management and staff of the Delta State Ministry of Information, I congratulate a great son of Ika and an exemplary Deltan, Mr. Chiedu Ebie, as he clocks the golden age. “As a member of the State Executive Council, I can testify of your sound professionalism and work ethics in handling matters of state.

MONDAY JANUARY 4, 2021 ˾ T H I S D AY

24 HOURS...

2023: Rotational Presidency Not Part of APC’s Constitution, Says Shekarau Ibrahim Shuaibu in Kano Former Kano State Governor, Malam Ibrahim Shekarau, has declared that zoning is not part of the constitution of the ruling All Progressives Congress (APC). Shekarau, who is also the senator representing Kano Central, said this during an interactive session with journalists in Kano yesterday, said there is no issue of zoning in the APC constitution, and also the Nigerian constitution, but only exists in common sense. “I want to tell you that there is no place in the APC constitution that the issue of zoning is mentioned. I think it is only considered by the

Peoples Democratic Party (PDP).” He disclosed that despite the absence of a known written agreement in the constitution of APC, those agitating against zoning of party candidature are not being rational to the sensitivity of other compatriots. The former Governor of Kano State who made his stand clear on the brewing controversy on whether or not the Northern region should devolve power to the south ahead of 2023 general election, however, advocated common sense theory in the application. Shekarau who cited the recognition of six geopolitical zones in several applications of national resources despite its

unconstitutionality, declared that APC should have enabled zoning to prevail naturally in the selection of its presidential candidate for 2023. Besides, the senator insisted that retaining power in a particular region does not necessarily make it superior or better off to other parts of the country. Although Shekarau was not particular over which

region should be allowed to present presidential candidate, he believed that leadership position should be appropriated base on justice and fairness “For me, I believe in the principle of balance equation and common sense. Although there is no place in our party where zoning is allowed unlike in the PDP where the zoning system is

constitutional, ideally common sense should have guided APC in its selection. “And those who want to kill themselves that one particular region should continue to maintain power should know that that will not make them better than other regions. For instance, in the last eight years the North has been in power, are we better than other parts of the

country! the answer is NO”. Shekarau also spoke of his relationship with Governor Ganduje and Senator Rabiu Musa saying, “my relationship with them is cordial.” According to him, there is no misunderstanding between him and Ganduje, and other the hand with Kwankwaso, “as our relationship is still as it has been.”

Fishermen Threaten Showdown over Shell’s Failure to Pay $3.6bn Bonga Spill Fine Onungwe Obe in Yenagoa Fishermen from the Niger Delta region operating under the auspices of Artisanal Fishermen Association of Nigeria (ARFAN) have urged the federal government to prevail on Shell Nigeria Exploration and Production Company (SNEPCO) Limited to pay the $3.6 billion fine imposed by the oil industry regulators over the 2011 Bonga oilfield spill or face a showdown. The fishermen also demanded that the federal government compensate them for shutting down their trade during the 2020 COVID-19 lockdown, saying they were yet to recover from the impact of the lockdown on the fisheries sector, as they were excluded from the palliatives given to the agriculture sector during the lockdown. The Coordinator of ARFAN in the Niger Delta region, Rev. Samuel Ayadi, told journalists in Yenagoa yesterday that another lockdown following the second wave of the COVID-19 pandemic would be unbearable for fishermen.

Ayadi said fishermen suffered seriously since 2011 when an equipment failure from the Bonga offshore field operated by SNEPC discharged some 40,000 barrels of crude into the water. “On December 20, 2011, during loading of crude oil at Bonga fields within OML 118 situated at 120 kilometres off the Atlantic coastline, the export line ruptured and discharged crude oil into the sea,” he stated. The export line, according to a Joint Investigation Report by National Oil Spills Detection and Response Agency (NOSDRA) and SNEPCO, spewed about 40,000 barrels (6.4 million litres) of crude oil into the sea. Ayadi, therefore, appealed to the federal government to prevail on Shell to pay the NOSDRA imposed fine for the oil spill so that fishermen who lost their occupation can recover from the effect. He said fishermen complied with the order by NOSDRA that they should pull out of the sea to avoid having contaminated catch while the cleanup lasted, and therefore deserve to be indemnified from their losses.

Edo Female Journalist Robbed at Gunpoint Adibe Emenyonu in Benin-city A female journalist with the Edo State Ministry of Information and Orientation, Flora Bossey, was at the weekend attacked and robbed by gunmen in Benin-city, the state capital. Bossey was attacked when she went to one of the Automated Machine (ATM) stands near the Kings Square (Ring Road) and was dispossessed of all the cash and other valuables with her. The attack, according to her, occurred immediate she finished withdrawing money from the ATM. The two suspected attackers had waited for her to finish the cash withdrawal when they immediately swooped on her at gunpoint, and collected the cash she withdrew, her two ATM cards, mobile phones with Glo

and MTN lines as well as other personal items before moving towards the airport road in the state capital. Narrating her ordeal, Bossey said the sight of the gunmen was very scary, noting however that she was not injured by the attackers, who only made away with all her belongings. She said: “They took my Zenith and First bank ATM cards and forced me to give them the PIN number.” Bossey, a two-time former vice chairman of the Nigeria Union of Journalists (NUJ), and former state Chairperson of the Nigeria Association of Women Journalists (NAWOJ), however, thanked God for sparing her life, as she advised residents in Benin-city and environs to be wary of the kind of ATM stand they visit for the transaction.

THANKSGIVING SERVICE...

: L-R: Presbyter, Wesley Cathedral, Olowogbowo, Lagos, Very Reverend John Olanrewaju Solubi; Archbishop of Lagos, Most Reverend Isaac Ayobami Olawuyi; his wife, Funmilayo; and Lay President, Diocese of Lagos, Sir. Gbolahan Olayomi, at the 2021 New Year Thanksgiving Service of the church in Lagos...yesterday

ACF Lauds NAF Onslaught against Bandits Along Kaduna-Abuja Road John Shiklam in Kaduna The Arewa Consultative Forum (ACF) has commended the Nigerian Air Force for its operations along the dreaded KadunaAbuja road where bandits kill and abduct travellers for ransom, almost on a daily basis. In a statement yesterday in Kaduna, The Chairman of ACF and former Minister of Agriculture, Chief Audu Ogbe, called on other security forces to emulate the good example of the Nigerian Air Force and take the fight to the doorsteps of the insurgents, bandits

and other criminal elements terrorising Nigerians. Ogbe commended the Air Force for the successful operation along the AbujaKaduna road last week, which, according to him, led to the killing of about 50 bandits. “I wish to on behalf of Arewa Consultative Forum congratulate President, Commander in Chief of the Nigerian Armed Forces, Muhammadu Buhari and the Chief of Air Staff, Air Marshal Sadique Abubakar for the successful operation on Abuja-Kaduna road last week in which about 50 bandits were neutralized,”

Ogbe said. He lamented that the bandits have for some time now taken control of the Abuja-Kaduna road and made life unbearable for innocent travelers, noting that many of them have been robbed, killed or kidnapped for ransom. “It is indeed heartwarming to hear that they have been dealt a heavy blow by our gallant forces. “The Arewa Consultative Forum calls on the other security forces - Army, police, Navy, DSS- to borrow from the good example of the Air Force

and take the fight to the doorsteps of the insurgents, bandits and other criminal elements that are making life very unbearable for law abiding citizens in Nigeria. “The Arewa Consultative Forum assures the President and his security forces that we do not onl y c r i t i c i s e them when they go w ro n g b u t a re w i l l i n g and will commend them when they do the right thing. We pray that God will g i v e t h e m t h e s t re n g t h and wisdo m t o s e c u r e Nigeria in 2021 and the years ahead,” Ogbe said.

Dismantle Extremist Criminal Groups Now, Abuja Chamber Tells FG Ndubuisi Francis in Abuja The Abuja Chamber of Commerce and Industry (ACCI) has called on the federal government to urgently enhance the capacity to engage, push back and dismantle the operations of both internal and external extremist and criminal groups waging war against Nigerian communities. The ACCI said this was imperative because of the nexus between insecurity and economic downturn, especially with respect to the agricultural sector. In its reaction to President Muhammadu Buhari’s New

Year message to the nation, the ACCI observed that insecurity particularly in some parts of the northern region constitutes a serious threat to the operations and activities of farmers and farming firms. In a statement signed by its President, Alhaji Al-Mujtaba Abubakar, the ACCI said: “Tackling insecurity will thus enhance the administration’s goal of revamping the economy through the national economic diversification agenda that supports the primary goal of national food self-sufficiency.” The chamber said it

took with deep interest the president’s new year speech, especially the policy outlays on economy and security, adding that it particularly noted with commendation the declaration of President Buhari to frontally address challenges of insecurity in relation to the economic revival of the nation. “The presidential promise to re-energise and reorganise the security apparatus and personnel of the security and military services is a welcome development. The urgent need to enhance capacity to engage,

push back and dismantle the operations of both internal and external extremist and criminal groups waging war against our communities, cannot be over-emphasised.” The ACCI also noted the administration’s desire to continue the rebuilding of the national infrastructure base and, in the process, introducing transformation through the rehabilitation, modernisation, and expansion of the railway system, national roads and bridges both in rural and urban centres, alongside the airports and seaports.

˜ ͼ˜ ͺ͸ͺ͹ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

NPFL

Nasarawa Climb to Summit of NPFL with Victory over Heartland Duro Ikhazuagbe Nasarawa United climbed to the top of the Nigeria Professional Football League (NPFL) table yesterday with 2-1 victory over Heartland FC. Nasarawa are tied on same points as Rivers United who had consolidated in earlier fixture against Abia Warriors

RESULTS K’Pillars 2-0 Katsina Utd Heartland 1-2 Nasarawa Rangers 1-0 Akwa Utd Dakkada 2-1 Jigawa G’Stars Sunshine 1-0 FC IfeanyiUbah Lobi Stars 1-0 MFM FC W’Wolves 1-0 Adamawa Utd Kwara Utd v Enyimba (pp) Abia Warriors 0-1 Rivers Utd

on Saturday. Nasarawa are ahead on account of superior goal difference. Nasarawa shocked hosts Heartland with the first goal in the 14th minute through Chinedu Ohanachom. Shedrack Oghali cancels that in the 63rd minute but Adamu Hassan provides the winning strike for the visitors 11 minutes later. Elsewhere, Kano Pillars beat Katsina United 2-0 to win the Northwest Derby. David Ebuka and captain Rabiu Ali scored for Pillars inside the Ahmadu Bello Stadium in Kaduna. Katsina United fought back after the break but they were far from clinical in front of goal even though the lively Atule threatened

the Pillars goal severally. Dakkada fight back by cancelling Muhammad Abubakar’s 25th minute lead through Aniekan Ekpe (in first half added time) and Solomon

Chipotle (53rd minute). The result places the Uyo side at No 4 level on points with Rivers United and Kano Pillars. Martins Ossy’s 71st minute goal proved enough to earn

Lobi Stars their first points of the season. In Warri, Uche Ihuarulam strike with seven minutes to go as Wolves picked their first points.

Rangers, Warri Wolves as well as Kwara United, Enyimba (both with a game in hand), Lobi Stars and MFM are among the teams with three points each.

No Shift in February Date for National Sports Festival, Says Dare The Minister of Youth and Sports Development, Mr. Sunday Dare, has reassured stakeholders that the February 14th, 2021 kick off date for the National Sports Festival remains sacrosanct. According to the Minister, “after the National Sports Festival in February this year, we will move to the National Youth Games and continue the build up to the Olympic Games. “Building quality facilities and engaging good coaches, which are keys to producing world-class athletes, require heavy investment,” stressed the minister even as he hinted that the sport sector was going to benefit from the fund soon. “We have asked for 25 per cent of the Lottery Fund to come to sports. Jamaica and England give between 31 to 38 per cent of their Lottery Funds to sports, but right now we are getting nothing from the fund. “We hope to get the approval for the Lottery

money in the first quarter of the year,” revealed Dare. On the adopt-an-athlete initiative, which was introduced to cater for athletes’ welfare, Dare said it has been successful so far, assuring all that this year, it would accommodate more athletes. “The initiative provides $10, 000 training funds for home-based athletes, while the foreign-based get $20, 000. The money goes directly to the athletes, who are expected to use it for their training, medicals and travels for competitions. “The benefiting athletes sign MoUs with the adopting companies or individuals so that all the parties are protected. “The initiative was stalled by the Covid-19 outbreak last year, but more companies have lined up to be part of it. We are looking at an initial 48 athletes benefiting,” concludes the sports minister.

Nasarawa United shot to the top of the NPFL with 2-1 victory over Heartland FC...yesterday

CAF CHAMPIONS LEAGUE

Al Merreikh Land in Nigeria for Enyimba Cracker Femi Solaja After playing ‘hide and seek’ with the Nigeria Football Federation (NFF), with information about their travel plans, Al Merreikh finally arrived the country last night for the all-important second leg CAF Champions League match against Enyimba FC. The Sudanese side had refused to give detailts of their travel plans as expected but late yesterday via the team’s twitter handle, they announced that the team had arrived via Nnamdi Azikwe International Airport in Abuja, 24 hour behind their earlier scheduled time. The team arrived via Al Zaeem’s private plane and

Ajayi Wins 59th FirstBank Lagos Tournament Ikoyi Club-based Category-1 Amateur Golfer, Ajayi Tajudeen, has emerged winner of the 59th FirstBank of Nigeria Limited sponsored Lagos Open Golf Championship. Ajayi closed with 1-under par 70 for a total of 7-over the course par to win the Championship by twoshots after 56-holes. Happy at the victory, Ajayi adduced his success to hardwork, saying “I practiced a lot”. “There is no short cut to success that was why I take the sport very seriously. I was well prepared for this tournament because I practiced a lot”, he said

in a chat with newsmen shortly after being declared the champion. With his victory, Ajayi replaces Peter Eben-Spiff on the FirstBank Open winners list. Playing 4-shots adrift going to the final round, Ajayi recorded bogey free 18-holes to steal the show ahead o f o v e r n i g h t l e a d e r, Gabriel Ejembi who carded a closing 76 for 9-over the course par over 56-holes to beat clubmate Ejembi to the second position. Coming in the third position was Tochukwu E m u w a a t 1 4 - o v e r. Emuwa opened his game with 76, a second round score of 75 and a closing 74

to duck in the third position. Olusegun Emmanuel came fourth while Junior Champion; Osiregbemeh Egbakhumeh completed the top five in the R&A and USGA sanctioned championship. Satisfied with the outcome of the competition, O l u s e g u n Alebiosu, the Chief Risk Officer of of FirstBank Nigeria Limited, who re p re s e n t e d t h e C h i e f Executive Officer of the financial institution, pledged the bank’s continuous support for the championship. The competition was o rg a n i z e d in full compliance with Federal Government C o v i d - 1 9 p ro t o c o l s .

will board another flight this morning to Owerri before heading to Aba by road, said the club. But in a strong communication with the Confederation of African Football (CAF), the NFF had protested the whereabouts of the team following its inability to locate the Sudanese scheduled to arrive Nigeria on Saturday. “We write to bring to your attention that Al Merreikh SC communicated to us, their schedule to arrive Nigeria on Saturday, 2nd January 2021 at about 1800hrs via chartered flight through Port Harcourt International Airport. Thus, we mobilized resources in readiness to receive the team as scheduled,” the statement from NFF read.

“However, on 1st January, 2021, we received another correspondence intimating us of their arrival on Saturday, 2nd January 2021 via EgyptAir at about 1345hrs. “We deployed vehicles to Port Harcourt Airport and personnel to Lagos Airport in anticipation of the arrival of the team in any of the two entry points. “Up till 2200hrs of the day, Saturday 2nd January 2021, Al Merreikh SC did not arrive in any of the two entry points and did not communicate to us changes in its plans. Thus, we are handicapped as to what to do and where to receive the team. “It may also interest you to know that we have tried

various communication channels to reach the team, including through its Embassy in Nigeria but all in vain.” Saif Terry’s hat-trick handed Didier Gomes Da Rosa’s side a commanding 3-0 first-leg triumph inside Al-Merrikh Stadium in Omdurman. The People’s Elephant must defeat the 21-time Sudan Premier League winners by at least four goals without conceding in the second leg billed for the Enyimba International Stadium, Aba to progress to the money spinning group phase. Should the two-time CAF Champions League winners fail to overturn the deficit, Enyimba will be demoted to the second tier CAF Confederation Cup.

Fayemi Signs Sports Development Trust Fund Bill into Law Victor Ogunjein Ado Ekiti In a bid to promote sports in Ekiti State and make it a reliable sector that can enhance the capacity of youths, Governor Kayode Fayemi has signed into law, Ekiti State Sports Development Trust Fund (SDTF). A statement by the General Manager, Ekiti State Sports Council, at the weekend, quoted Fayemi as saying the fund would bring more development to the sports when implemented . Fayemi said with the fund in place, there would be Public-Private partnership in the sponsorship of sporting activities and make the sector a priority of government in terms of funding . “SDTF is strategic for the

development of sports. Now that white collar jobs are not in place, there would be need for us to develop the sports sector to help in generating employments for our youths and build their skills to be able to compete locally, nationally and internationally”. Speaking about the benefits of SDTF, the General Manager, Ekiti State Sports Council, Mr. Deji Samo, applauded the governor for the feat, saying it was unprecedented in the history of sports in Ekiti. Samo added that Fayemi has made giant strides to develop the sector by ways of creating the ministry of Sports, regrassing of Oluyemi Kayode Stadium and the sponsorship of the Ekiti United Football Club and a female team for the state. According to the General Manager ; “The board and

the management of sports appreciate the SDTF that was signed into law by Governor Fayemi. This is unprecedented and will boost sporting activities in our dear state. “With this , our athletes can now attain a higher height and win more laurels and trophies for our dear state locally, nationally and internationally. “Sport is a money spinning activity, but capital intensive. Now that more funding will be available through SDTF, Ekiti will soon gain recognition as a state where huge potentials abound in sports and we can rake in more revenues into the State” . Samo thanked the State House of Assembly for the speedy passage of the bill, he described as potent weapon that would bolster sports sector in the state.

Monday January 4, 2021

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MISSILE

Buhari to Terrorists

“The looting of Libyan armouries in the aftermath of Gaddaﬁ’s fall has put dangerous weapons into the hands of terrorists and other criminals who now pose security challenges to other countries.” – President Muhammadu Buhari, while calling for united action to stop spread of terrorism in the continent.

OKEYIKECHUKWU

EDIFYING ELUCIDATIONS

okey.ikechukwu@thisdaylive.com

Signs of the Last Judgment? W hen you have a fever, you take it as a sign that all is not well with your body. The fever usually appears before the full manifestation of the ailment. Itchy gums in babies is often a sign that a tooth is about to spring forth. The appearance of flowers on a fruit-bearing tree is a sign that the tree is about to bear fruit. The appearance of the dragonfly at a particular time of the year is taken by some farmers as a sign that the dry season is near. So, a sign could be an object, a condition or even an event. If, for instance, you bring a shovel, which is “an object,” to a gutter, we would take it as a sign that you wish to scoop some dirt out of the gutter. If we see heavy clouds in the sky, which is “a condition,” we take it as a sign of approaching rain, or sandstorm; depending on whether we live in a desert or not. The sound of breaking glass, which is “a happening,” or an event, could be a sign that some glassware had fallen down, or that someone had smashed some glassware somewhere in the house. So, considering that a sign could be an object, a condition or an event, is it possible that the health, economic, political and psychic shocks of the year 2020 are signs of something more serious? Is 2020, perhaps, even a mild foretaste of a cascade of the calamities that ancient prophesies and the scriptures say will progressively overwhelm us and the earth? Are the signs of the Last Judgment mentioned in the scriptures finally here with us? If yes, how do we know? Afterall, many people who saw the Star of Bethlehem merely regarded it as a very bright heavenly body. They did not know that it was heralding the birth of the Messiah. This means that one may see a sign and not know. One may even see a signal, which can be likened to a ‘flag off’ of what is being expected, and still not know. If you take the appearance of a flower as a sign that a fruit bearing tree is about to bear fruit, then the falling off of the flower is the definitive signal that the fruit is about to come out. Coming back to our main discussion about signs of the last judgment, is it possible that recent global events are clear signs that the earth is giving out serious distress signals? Why are we seeing more wars, natural disasters and deeds of madness everywhere? The ten major signs of the Last Judgment mentioned in the Bible, are (1) natural disasters; (2) strange diseases; (3) wars; (4) rumours of wars; (5) false prophets who will perform miracles; (6) false Christs who would deceive many; (7) distress of nations; (8) brother rising against brother; (9) famine and (10) kingdom rising against kingdom. How much of these signs are here with us? Do we even know how to properly identify, or understand, them if they are here? When, in chapter 24 verse 2, of the Book of Matthew, the disciples of Jesus asked: “When will this happen and what

CAN President, Rev. Samson Ayokunle

will be the sign of … the end of the age?” Christ was reported to have replied that there would be wars and rumours of wars, etc., but that even with these “… the end is still not come”. He spoke of nation rising against nation, Kingdom against Kingdom, famines, earthquakes and other natural disasters “in various places”. This long list of troubles is described as merely “the beginning of birth pains”, which means that more will still come. So, is 2020 part of the “birth pains”, with more to come? What birth pains are we talking about here? Is it perhaps the new era, the Millennium of Peace when a new humanity, who would have been cleansed through tribulations and pain? If yes, then we can describe the current calamities, and the more to come, as part of a general cleansing and winnowing process, before the new era. Part of the expected extra troubles is in verse 11 of the same section of the Bible, which speaks of false prophets who would arise and deceive people. Do we not have them by the truckloads today? is every street corner not sprouting its own prophets, with some of them even claiming that they have a spare key to heaven? Are we not seeing an epidemic of young men and women who are presenting fashion, stimulation of the senses, effective public speaking

and sundry entertainment gimmicks and psychological tricks in place of the Word of God? If, as said in Verse 13, those who stand firm would be saved in the end we may wish to ask: What would they be standing on? Is the statement another way of saying that people of steadfast good volition and conviction, who also trust absolutely in God, would still be saved; despite the disasters, wars, famine and false prophets? How easy would it be for anyone to survive and stand firm when false prophets, a quaking earth, wars and famine are his constant companions? If, as said in Verse 21: “For then there will be great distress, unequalled from the beginning of the world until now – and never to be equaled again”, and if verse 24 says: “... false Christs and false prophets will appear and perform great signs and miracles to deceive even the elect,” is it not all generally confounding? Who would be left standing in this sort of situation? Breathing may be difficult, if not precarious, for those still alive. Is it possible that the person who stands firm in his trust in God, and who holds unto the Truth, will be saved? And how easy would it be to find the Truth in the midst of false prophets? But when we consider that it is also written in the same Bible, in John, Chapter 13, verses 13 to 15, that the Spirit of Truth would come at the time of this confusion to “lead you into all truth”? then the matter seems somewhat ameliorated. Afterall, Christ was quoted to have said to His disciples, while speaking of The Spirit of truth: “He will speak of me, for He shall receive of mine?” Is it not written: “He shall remind you of the things I have taught you, …”? Is this another way of saying that the true Living Word, the Spirit of Truth, will also be on earth at the time of these great deceptions and tribulations to guide those who are alert, and who trust in God, unto the path of salvation? It is for each and everyone to then be alert and not face the fate of the five foolish virgins mentioned in the parable of Jesus in the Bible. We may look at the increasing number of prayer houses and religious activities all over the world today and wish to take it as proof that human beings are waking

Unfortunately, most people who throng miracle centres and prayer houses are not looking for God, or for salvation. They are only looking for new cars, babies, promotion in the ofﬁce, a husband, a wife, or some other things on the earth. They are not looking for a way to heaven. They are not looking for the Creator of all life

up spiritually at last. Unfortunately, most people who throng miracle centres and prayer houses are not looking for God, or for salvation. They are only looking for new cars, babies, promotion in the office, a husband, a wife, or some other things on the earth. They are not looking for a way to heaven. They are not looking for the Creator of all life. Perhaps the question to ask here concerning ‘the faithful’ of today is: Do they pray to the Lord and say: “Thy Will be done”, and trust in his omniscience and omnipotence; or do they make demands and try to ‘claim’ it, whether the Lord likes it or not? Are we not all familiar with dramatic declines in the religiousity of individuals and whole communities following the resolution of the problems that made them so prayerful in the first place? Concerning false Christs, there are many of them today, both locally and internationally. There was Jesus of Oyinbo, in Lagos, who claimed that he was Jesus of Nazareth come again. Many people believed him and worshipped him for decades, until he died somewhere in Maryland, leaving behind a disgraceful moral legacy. There was Malaika in Mushin, Lagos, a woman, who reigned until a newspaper interview blew her out of the water. There are several others today, with millions of followers in other countries of the world, as can be easily confirmed by surfing the Internet. One of the impostors, who makes big international television appearances and who has the number 666 tattooed on his followers, was even reported to have claimed to be both Christ and the Antichrist combined. Is it not strange, no scary, that these things are coming at the same time with practically all the other predicted signs of the Last Judgment? There was only one Jesus Christ, but now there seems to be several people claiming to be Him. And they all even have large followings, just as it was prophesied. The appearance of many strange diseases, which is one of the things to come with the end-time has COVID-19, Hantavirus, Brain Eating Amoeba, Ciguatera and many other “Armageddon Diseases, in tow. Many known disease pathogen is developing more drug resistant strains. Even some previously cured diseases of the sixties, seventies and eighties are back in more virulent forms. Yes, we now have more than our fair share of new, strange and incurable diseases on earth today. Why? Why should there be so many health problems in a supposedly much more enlightened world? Look around you. Distress of nations is here. The children of Abraham in the Middle East who are brothers are rising against brothers; with Kingdoms against Kingdoms. Look at the Sudan. Are the signs of the Last Judgment here? Is 2020 a major marker, indicating an irreversible turning point? Watch out, because politics and politicians won’t bail you out!

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