TUESDAY 1ST FEBRUARY 2022

100 for 100 Policy: CBN Disburses N23bn to Manufacturers Emefiele: New FX policy underway FG, stakeholders laud apex bank’s drive to boost economy James Emejo in Abuja The Central Bank of Nigeria (CBN) has disbursed a total of N23.20 billion to 28 companies whose projects were selected for funding

in the maiden batch of its newly introduced “100 for 100 Policy for Production and Productivity (PPP)” initiative.

CBN Governor, Mr. Godwin Emefiele, who disclosed this

yesterday in Abuja, also said the apex bank would soon introduce a new foreign exchange (FX) bidding regime.

Emefiele spoke at the formal launch of the 100 for 100 PPP

scheme. He explained that the primary objective of the CBN in introducing the initiative was to ensure that priority was accorded to companies that displayed verifiable progress in the bank’s import

substitution and job creation drive.

Emefiele said the funds disbursed to beneficiaries of the 100 for 100 policy, which he stressed were loans, followed due screening of the applications received.

He said the projects, valued at N23.20 billion, comprised 14 in the manufacturing sector, 12 in the agricultural sector, and two Continued on page 10

NNPC Positioned to Lead Africa in Energy Transition, Says Kyari… Page 5 Tuesday 1 February, 2022 Vol 27. No 9793. Price: N250

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Obaigbena Inaugurates THISDAY Editorial Board... Page 8 National Assembly Transmits Reworked Electoral Act Amendment Bill to Buhari for Assent

Deji Elumoye and Sunday Aborisade in Abuja

L-R: Deputy Governor, Operations, Central Bank of Nigeria (CBN), Adebisi Osinubi; Deputy Governor, Economic Policy, Dr. Kingsley Obiora; President Manufacturers Association of Nigeria, Dr. Mansur Ahmed; Minister Labour and Productivity, Dr. Chris Ngige; Governor, CBN, Godwin Emefiele; Representative of the Secretary to the Government of the Federation, Dr. Habiba Lawal; Deputy Governor Financial System Stability, Mrs. Aishah Ahmad; Deputy Governor, Corporate Services, Edward Adamu and Managing Director, NDIC, Bello Hassan, at the formal launch of the 100 for 100 Productive and Production Policy of the CBN in Abuja ... yesterday

The National Assembly yesterday transmitted the reworked 2022 Electoral Act Amendment Bill to President Muhammadu Buhari Continued on page 10

Buhari: My Successor will Inherit Home-grown Economy, Stable Democracy, Revamped Security Forces Nigeria facing historic transition, says Obaigbena Deji Elumoye in Abuja President Muhammadu Buhari yesterday disclosed that by the time he leaves office on May 29, 2023, he would have bequeathed a home-grown economy, stable democracy as well as revamped security forces to Nigeria.

This was just as the Chairman of THISDAY/ARISE Media Group, Prince Nduka Obaigbena, said the nation was currently facing unrivalled transition towards the Continued on page 10

FOR A BETTER NIGERIA...

L-R: President Muhammadu Buhari; Chairman/Editor-in-Chief, THISDAY/ARISE News Channel, Prince Nduka Obaigbena, and Ekiti State Governor, Dr. Kayode Fayemi, during a dinner PHOTO: SUNDAY AGHAEZE with the 2022 Committee of Business, Political, Media and Civil Society Leaders, held at the State House, Abuja…yesterday

Nigeria, UK Move to Deepen Security, Hold Defence Partnership Dialogue in London... Page 6

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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580

PRESIDENTIAL DINNER WITH THE 2022 COMMITTEE...

L-R: Chairman, BUA Group of Companies, Alhaji Abdul Samad Rabiu; Chief of Staff to the President, Prof. Ibrahim Gambari; Chairman, Dangote Group, Alhaji Aliko Dangote; Former Minister of Budget and National Planning, Sen. Udoma PHOTO; SUNDAY AGHAEZE Udo Udoma and CBN Governor, Mr. Godwin Emefiele, during a dinner with the 2022 Committee of Business, Political, Media and Civil Society Leaders, held at the State House, Abuja…yesterday

FG Ramps Up Work on Siemens Power Deal, Set to Reach 40m Nigerians with Reliable Electricity Begins training of engineers, forecasts 11,000 jobs Emmanuel Addeh in Abuja The federal government yesterday said its electricity deal with Siemens was on course, stating that the first phase of the programme under the Presidential Power Initiative (PPI) would increase power supply to about 40 million Nigerians.

In addition, the contract which would see the eventual ramp up of the country’s generation capacity to 25,000 megawatts, the government stated, would create at least 11,000 direct and indirect jobs.

Speaking at the commencement of the PPI training on network development studies, by FGN Power Company, the firm overseeing the Siemens power project, in Abuja, the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, said the unveiling of the training session was a milestone

under the initiative.

Ahmed assured that the collaborative effort with the implementing partner, Siemens, on the PPI was on track to bring positive change to the power sector.

The training aspect of the PPI, she said, was to empower engineers with tools and training on network modelling and system development studies.

According to her, the FGN had been driving the process by coordinating key stakeholders' input and working with the ministry of finance to secure financing and to enter into efficient commercial and contractual arrangements to deliver the PPI. The flag-off of the training, she noted, was intended to deliver capacity development for engineers in network development, using proprietary simulation software

Buni: We Have Reconciled Aggrieved Members in Kwara, Ogun, Gombe, Others Adedayo Akinwale in Abuja The Chairman of the Caretaker/ Extraordinary Convention Planning Committee (CECPC) of the All Progressives Congress (APC) and the Governor of Yobe state, Mai Mala Buni has revealed that the party has reconciled aggrieved members in Gombe, Ogun, Kwara, and many other states ahead of the February 26 national convention.

Buni, who was represented by a member of the committee and former Senate President, Ken Nnamani disclosed this yesterday, while receiving the interim report of the national reconciliation committee led by Senator Abdulahi Adamu.

He said the committee was very important to the collective zeal of recovering, repositioning and rejuvenating the party to have a strong, stable and united APC. Buni added: "The submission of this report is coming at a crucial period as we approach the National convention and the 2023 general elections. Therefore, the findings of the committee would contribute in no small measure to a successful convention and the general election.

"The great achievements the party has recorded in reconciling the differences among our stakeholders in Gombe, Ogun, Kwara, and many other states have justified the confidence the party has in your individual and collective capacities. You have truly done us proud."

The chairman commended the committee for handling the assignment with a high sense of commitment and responsibility.

According to him, “You have painstakingly visited states where we have challenges and addressed them squarely. I wish to assure you that the caretaker committee will carefully study the report and implement the same to improve the unity and strength of the party.”

He recalled that the ruling party conducted a successful membership registration and revalidation exercise and now proudly has over 41 million members. This, according to him makes APC Africa's largest political party and Nigeria's leading party.

Buni noted that with its numerical strength, APC remained the party that could confidently win elections with landslide victory in all the national elections.

by Siemens.

“The first phase of the PPI will provide over 40 million people with more reliable electricity supply, create 11,000 direct and indirect jobs for Nigerians from power system engineers to electricians and contractors.

“This will in turn improve the standard of living while providing homes and businesses with constant, reliable and affordable electricity supply,” the minister said.

While lauding President Muhammadu Buhari, “for his tireless effort in supporting the efforts of sector improvements, in particular the PPI,” Ahmed explained that the first phase would witness the immediate rise in generation by 2,000 megawatts.

The minister is the chairperson of the board of FGN Power Co, while members are the ministers of power, works and housing as well as the minister of justice, the Director General of the Bureau of Public Enterprises (BPE) and president of the Nigerian Society of Engineers (NSE).

In his remarks, the Minister of Power, Abubakar Aliyu, who was represented by the Minister of State, Power, Mr. Goddy Jedy-Agba, reiterated that in 18 months, the Siemens project would add 2,000 megawatts to the national grid, raising it to about 7,000 megawatts.

“The objective of the PPI is to increase the end-to-end grid operational capacity of the power system in Nigeria to 25 gigawatts, but the focus in the next 18 months is to deliver the first additional 2,000 megawatts.

“This will create a rapid transformation in the on-grid electricity value chain, spur economic growth, create jobs and opportunities for Nigerian youth and enterprises,” he noted.

He pointed out that the government was prepared to solve the problems of epileptic power supply in Nigeria once and for all, stressing that it is the reason the federal government launched the programme.

According to him, the initiative would help to achieve commercial

autonomy by facilitating investments in critical infrastructure for power delivery and service to Nigerians.

“This project is expected to modernise, rehabilitate and expand the national grid by investing in the electricity value chain (generation, transmission, and distribution systems) of the power sector.

“Our implementing partner, Siemens will assist with worldclass experience in power system reforms like they have done recently in Egypt,” he noted.

Also speaking, the Managing Director of FGN Power, Kenny Anuwe, said the training was the first Power System Simulation Software (PSS) session under the Power Technology International (PTI) from Germany.

He noted that the training would cut across the power sector value chain comprising the generation, transmission and distribution to be handled by the National Power Training Institute of Nigeria (NAPTIN).

According to him, the training will happen over the next four years on different levels to ramp up the competency of those that will be involved in handling the project.

Anuwe assured that the project will resolve the existing bottlenecks in transmission and distribution networks, which will increase electricity access across Nigeria.

“It is important to stress that the benefits of constant and reliable electricity will boost economic activities; improve the lives of small, medium and micro enterprises across and deliver the much-needed power supply across the country.

“I want to assure you that FGN Power Company will do its best to deliver on this project to ensure greater success and sustainability,” he stated.

Commenting, the Project Director, Siemens Energy, Nigeria, Sean Manley, said Siemens had brought in trainers from Germany, explaining that the company would not relent until the different phases were executed.

NNPC Positioned to Lead Africa in Energy Transition, Says Kyari Emmanuel Addeh in Abuja and Peter Uzoho in Lagos The Nigerian National Petroleum Company (NNPC) Limited yesterday gave an account of how it has positioned itself to lead Africa in energy transition.

The Chief Executive Officer and Group Managing Director, Malam Mele Kyari disclosed this while delivering the 30th Convocation Lecture of the Federal University of Technology, Minna, Niger State, at the university’s auditorium.

Kyari spoke on the topic: "Energy Transition & Energy Accessibility - The New Paradigm."

The NNPC CEO also advised industrialised nations not to put Africa in the same energy transition speed because it could spark energy crisis.

“Putting every country in the same energy transition speed could therefore result in unanticipated collateral damage that can spark energy crisis and deny developing countries access to available

and cheaper energy for growth,” a statement from the Group General Manager/Group Public Affairs Division, NNPC, Garba Deen Muhammad, quoted Kyari to have said.

Explaining the company’s strategy for a smooth and realistic energy transition, the CEO said the NNPC had set the necessary machineries in motion to lead Africa in transition to low-carbon energy and renewables.

He noted that the company was deepening natural gas utilisation under the National Gas Expansion Programme (NGEP).

According to him, the NNPC was also extending natural gas infrastructure backbone from Ajoakuta in Kogi state to Kano through Abuja and Kaduna under the AKK Gas Pipeline Project.

Besides, he said this mega pipeline would be fed by both Escravos-Lagos Pipeline System (ELPS) and the Obiafu-ObrikomOben (OB3) gas pipelines through Oben node in Edo state and deliver 2bscf of natural gas to power plants

and industrial off-takers along Abuja, Kaduna and Kano.

Continuing, he said as a national oil company and a global player, the NNPC was ready to shift to renewable energy.

The GMD dropped the hint that "We are taking firm position in this transition by institutionalising the necessary enablers for success.

"NNPC has established a Renewable Energy Division and has completely transformed the NNPC R&D Division to NNPC Research, Technology and Innovation as Energy Company of Global Excellence," he added.

He said NNPC welcomes beneficial relationship with academia and industry experts who demonstrate capacity for productive research and innovation in the energy sector.

According to him, oil would remain very much relevant in the global energy mix of today and the future.

Kyari however noted that as transition to cheaper energy gains momentum, especially across the

developed countries, oil companies must continuously improve operational efficiency and reduce their costs to remain on the playground.

Earlier in the presentation, he said Africa was endowed with abundant sunshine that can support massive development of renewable energy enough to put Africa on the map of energy sufficient regions of the world.

Kyari said attaining this vision would require substantial finance which may have to come from diverse sources globally.

Considering the financial stretch required to transit at the same pace with the rest of the world, Kyari said, "what Africa needs is energy transition that addresses energy poverty across the continent and supports the use of comparative and cheaper available energy resources in Africa."

He said this would guarantee affordable and reliable energy for rapid industrialisation and improvement in the economic well-being of the people.

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STRENGTHENING NIGERIA-UK DEFENCE RELATIONS...

UK National Security Adviser, Sir Stephen Lovegrove (left) and Nigerian National Security Adviser, Major General Babagana Monguno, during the first ongoing three-day meeting of the Nigeria-UK Security and Defence Partnership Dialogue in London…yesterday

National Assembly to Amend Finance Act over Drafting Errors As Customs claims law strips its powers to collect tariffs Senate tasks federal agencies to generate N3trn revenue in 2022 Deji Elumoye and Sunday Aborisade The Chairman of the National Assembly, Senator Ahmad Lawan yesterday directed the Finance Committees of the federal parliament to liaise with the Federal Ministry of Finance with a view to consider an amendment to the recently signed Finance Act 2022 in order to forestall avoidable loss of revenues.

This is just as Lawan also said revenue generating agencies of the federal government were capable of generating and remitting N3 trillion annually to the federation account if efforts were made to cut down on wasteful spendings.

The Senate President stated these at a meeting with the revenue generating agencies of the federal government at the Senate Wing of the National Assembly complex.

The interactive session was, “on the need to improve internally generated revenue of the federal

government of Nigeria and Revenue Projections of the Agencies as Contained in the Appropriation Act 2022.”

The Comptroller General of the Nigerian Customs Service (NCS), Col. Hameed Ali (retd.) caused a stir at the meeting when he raised the alarm that the Finance Act passed last month, incapacitated the NCS and other revenue generating agencies apart from the Federal Inland Revenue Service (FIRS) from collecting revenues.

Ali argued: "Section 22 of the Finance Act 2022 seeks to amend the Federal Inland Revenue Service Law Section 68 (1), (2), (3), (4) and (6) by allowing the Act to takes precedent over any other laws with regards to the administration of taxes, assessment, accounting, collection and enforcement of taxes and levies due to the federal government and the federation of Nigeria.

"When the law was signed, it did not state clearly, the extent and scope

of the taxes and levies in question.

We are aware that the taxes and levies under the responsibilities of the FIRS are income tax, personal income tax, capital gain tax, VAT and so on.

"However, the amendment is so wide and open that we in the Nigerian Customs Service took it that it had hindered our ability to collect levies and other collections.

"Our understanding of the provisions is that all other laws which mandated us to collect are inconsistent with the new Act, then they are voided. This means that the law that mandates us to collect as revenue generating agencies, are voided completely.

"This means that we do not have the responsibilities to collect levies.

If we don't have the responsibilities to collect, what are we going to discuss here.

"It shall be an offence for any person to carry out the functions of administering, assessment, account-

ing or enforcement of taxes or levies due to the Federal Government of Nigeria unless authorised by the Ministry of Finance with the approval of the National Assembly.

"We have consulted with lawyers and the conclusion is that the Act is confusing and if other revenue generating agencies decided to act on the provisions, they may decide not to collect duties and levies."

However, the Senate President wondered why the officials of the federal ministry of Finance were not in attendance at the meeting.

He said the nation's apex legislative institution would have no choice but to amend the law to prevent any revenue loss to the federation account.

Lawan said: "I wonder why the Ministry of Finance is not here because we need their intervention now. Their presence here would have provided some clarifications.

We took it for granted that since it was an executive bill, that there

Nigeria, UK Move to Deepen Security, Hold Defence Partnership Dialogue in London The United Kingdom (UK) and Nigeria yesterday commenced the first meeting of the Nigeria-UK Security and Defence Partnership Dialogue in London.

According to a statement yesterday, talks led by UK National Security Adviser, Sir Stephen Lovegrove and The Nigerian National Security Adviser, Major General Babagana Monguno, are scheduled to last for three days, and would conclude tomorrow.

It stated that the dialogue also includes a series of breakout sessions covering a range of issues, including counter terrorism, serious and organised crime, civilian policing and human rights.

In addition, Defence staff talks, led by UK Chief of Defence Staff, Admiral Sir Tony Radakin and Nigerian Chief of Defence Staff, General Lucky Irabor, would also take place in parallel and would discuss military cooperation during

the forum.

The Nigeria-UK Security and Defence Partnership was agreed between the two countries in 2018. This ongoing dialogue is the first meeting following the 2018 agreement.

Commenting on the dialogue, UK government Minister for Africa, Vicky Ford MP, said: “Today we welcome our Nigerian friends as we open the first UK-Nigeria Security and Defence Partnership dialogue in London. By building stronger security ties we can better protect our people from shared security threats.”

Also, British High Commissioner to Nigeria, Catriona Laing said: “Looking forward to the UK-Nigeria Security and Defence Partnership discussions over the next few days. Great to have this chance to expand our security and defence cooperation to improve how we respond to shared security threats.

“The Security and Defence Partnership Dialogue this week was the first such dialogue since the partnership was formed. The dialogue will take place at the Foreign Commonwealth and Development Office headquarters at King Charles Street, London.

“Before the 2018 agreement and since it, Nigeria and the UK have worked closely together to deepen the partnership between our two countries and tackle shared threats, bolster regional stabilisation efforts and support Nigeria’s peace-keeping capabilities,” it added.

were some engagements among the agencies of the federal government.

"We also called for public hearing so that we could ex-ray it. You are saying that you don't have the legal mandate to collect taxes and it is a scary revelation.

"The Senate Committee on Finance and the Ministry of Finance and other agencies would look at the Act. If it is established beyond reasonable doubts that we need to amend it, we will do so without delay.

"It will be the fastest amendment because we need you to collect more monies for the federal government."

The Chairman, Senate Committee on Finance, Senator Solomon Adeola nevertheless clarified that the section cited by Ali was not targeted at the NCS. Adeola explained: "What necessitated that singular act was as a result of the issue between the Revenue Mobilisation and Fiscal Commission and the FIRS. "There were clashes between them from time to time. Some activities of RMFAC were not in tandem with the Act that established it.

"We discovered that the only way that we can make their roles explicit is through the Finance Act concerning the assessment and accounting of taxes.

"We discovered that RMFAC personnel were going to agencies to audit their tax accounts which is not part of their responsibilities based on the law that established RMFAC. "The only agency saddled with

that responsibility is the FIRS. That was what that law tends to address.

We are ready to look into it again if other revenue generating agencies believe that it has hindered them from performing their responsibilities and we would amend it accordingly."

Senate Tasks Federal Agencies to Generate N3trn Revenue in 2022 Meanwhile, Lawan also said revenue generating agencies of the federal government were capable of generating and remitting N3 trillion annually to the federation account if efforts were made to cut down on wasteful spendings.

The Senate President said the purpose of the meeting was to explore means of increasing government revenues.

He said one of such ways was for the National Assembly to be rigid on the drive to increase revenue so as to cut down on the country’s budget deficit and borrowings, as well as prevent wasteful expenditures by agencies of government.

He assured Nigerians that the upper chamber would provide the needed support through legislation to ensure that revenue agencies perform to meet and surpass their targets.

Lawan added: “In 2022, the National Assembly assumed and rightly so, that our governmentowned enterprises can generate up to N3 trillion if we are of the mindset that we can achieve that and, of course, ensure that we oversight to stall any possibility of unwarranted expenditures by agencies of government.

Again, Senate Threatens MDAs over Lopsided Recruitments Deji Elumoye and Sunday Aborisade in Abuja The Senate yesterday threatened necessary legislative actions against any Ministry, Department and Agency (MDA) of the federal government still engaging on secret and lopsided recruitments.

The red chamber warned heads of the MDAs to ensure that their recruitment exercises accommodate every qualified Nigerian from the six geopolitical zones of the country

or face its wrath.

The Chairman, Senate Committee on Federal Character and Inter Governmental Affairs, Senator Danjuma La'ah, stated this while addressing journalists after his panel's engagement with the officials of the National Institute for Policy and Strategic Studies (NIPPS).

La'ah said the National Assembly would take the issue of lopsidedness in federal employment very seriously this year through aggressive oversight.

He said, "All along, our committee has not been taking the issue very seriously but now we are ready to ensure that the right things are done.

"We must follow the law during recruitments exercises and all geopolitical zones must be fairly captured.

"Our committee would ensure that we follow up where necessary through aggressive oversight no matter what it will take us.

"All the geopolitical zones have

qualified Nigerians in all spheres of life. So there is no basis lopsidedness in employment.”

Speaking further, he said: “The Senate is hereby emphasising that appointments must be given special considerations to ensure that geopolitical zones are adequately represented in the federal civil service.

"We will visit all the MDAs this year to audit their staff list. We will take drastic action against any erring agency."

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MEMBERS OF THE NEWLY INAUGURATED THISDAY EDITORIAL BOARD...

Obaigbena Inaugurates THISDAY Editorial Board The Chairman THISDAY/ ARISE Tv, Mr Nduka Obaigbena yesterday in Abuja inaugurated the reconstituted editorial board of THISDAY newspaper. In attendance were THISDAY Managing Director, Mr Eniola Bello, editorial board chairman, Olusegun Adeniyi, and other members.

While thanking the members for accepting to serve on the editorial

board, Obaigbena reminded them that THISDAY is founded on three cardinal principles: Democracy, free enterprise, and social justice.

“Those three kernels inform the decisions we take on critical issues with the overriding objective being the promotion of the greater good for our country,” he said.

Earlier in his welcome remarks, Bello assured the members that the

management of THISDAY operates the time-tested journalistic tradition of separating the Editorial Board from the Newsroom like Church and State. He said they have the freedom to discuss and write on any issue, without interference, but within the newspaper's operating principles.

New members of the board who attended yesterday’s session include

former Director General, National Youth Service Corps (NYSC), Major General Johnson Bamidele Olawumi (rtd), and TETFund chairman, Alhaji Kashim-Ibrahim-Imam.

At the event were Dr Chidi Amuta, Dr Okey Ikechukwu, Mr Waziri Adio, Ms Aisha Shuaibu, Ms Yemi Adamolekun and Mr Mahmud Jega. Others were Mr Paul Nwabuikwu, Mr Peter Ishaka,

Mr Gimba Kakanda, Mr Bolaji Adebiyi, Mr Francis Ndubuisi, Mr Benneth Oghifo and Mr Sonny Aragba-Akpore.

In his welcome remark, Adeniyi introduced the new members, including Olawumi who held several strategic appointments at the service, defence and public levels as a military officer. He was once the Coordinator, Nigerian Army

Nigeria Spends N264bn on Refineries, Pipelines Annually, Says Ex-NNPC Chief Marketers to rally FG, stakeholders to achieve 18 months subsidy removal target Analyst warns government against tampering with PIA Peter Uzoho The inefficiencies associated with the four inactive refineries and decrepit petroleum pipelines and depots belonging to the Nigerian National Petroleum Company Limited (NNPC) cost Nigeria over N264 billion annually A former Chief Operating Officer (Upstream) of former Nigerian National Petroleum Corporation and Chairman of Dankiri Farms & Commodities, Mr. Bello Rabiu, disclosed this in Lagos, yesterday.

He said the country spends over N22 billion every month on these dilapidated assets.

Rabiu spoke just as petroleum products marketers under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) have indicated their readiness to continue to discuss and collaborate with the federal government and relevant stakeholders in order to achieve the 18-month timeline for subsidy removal.

On the other hand, an economic policy analyst and Chief Consultant at B.Adedipe Associates, Dr. Biodun Adedipe, has advised the federal government against tampering with the Petroleum Industry Act (PIA) in the name of tinkering with the deregulation provision in the Act. They all spoke at a workshop organised by MOMAN for energy correspondents, with special focus on the recent developments on subsidy.

Delivering a paper entitled: “Challenges of Equitable Refining, Importation, Supply and Distribution of Premium Motor Spirit in Nigeria,” Rabiu stated, “Between N11 billion and N12 billion is spent on refineries every month as well as N12 billion spent on pipelines across the country.”

He wondered why the facilities would be left unmaintained and inactive while they gulp huge

amount of money, arguing that only Dangote was building a refinery of huge refining capacity while government could not build new ones or maintain the ones it has.

“How many years does it take Dangote to put up his refineries that the government could not put the refineries together for 23 years? In fact, we should make this a key point of campaign for those seeming national offices," he said.

Rabiu questioned the N9 per litre bridging cost being charged by the government to make the price of petrol equal across the country, saying it is not economic and does not add value, as it makes the subsidy to soar.

Speaking at the workshop, the Chairman of MOMAN, Mr. Olumide Adeosun, who read the marketers' position on the deferment of subsidy removal, said they would continue to engage the government and critical stakeholders in order to ensure that the 18-month timeline given for the implementation of deregulation was achieved.

Adeosun said the Minister of State for Petroleum Resources, Chief Timipre Sylva, had met with MOMAN over issues around the planned N3 trillion annual subsidy payment as well as the shift in the implementation of the end of fuel subsidy.

He said his group was seeking further engagement with Sylva and other top government functionaries to understand exactly how the subsidy decision would impact the other provisions in the PIA as well as market operations.

Adeosun said, “The Major Oil Marketers Association of Nigeria have been approached by members of the press seeking its reaction with respect to the suspension of subsidy removal.

“The members of the Association are currently seeking to consult with the Ministry of Petroleum

Resources, the Nigerian Midstream and Downstream Petroleum Regulatory Authority and other industry stakeholders to understand exactly how this decision would impact the other provisions in the Petroleum Industry Act as well as market operations.

“Recall, that the reforms contained in the PIA are a combination of several decades of engagement with internal and external stakeholders, capturing local and international best practices to encourage investments in the petroleum downstream sector, optimise costs, ensure transparency, and upgrade industry assets and infrastructure (refineries, depots, pipelines, trucks, and filling

stations).

“The decision having been taken to suspend subsidy removal, the direction of our consultation necessarily would be towards understanding and contributing towards what market philosophy and regulations should be in place during the 18-month period to ensure uninterrupted supply, transparency.

“This will be in line with longterm objectives for the administration and growth of the industry.

“Once clarity has been achieved, we shall address a press conference on the issue.”

In his presentation, Adedipe, whose paper was titled: "Economics of Subsidy and the Pathway to

Achieving Industry Reforms in the Petroleum Downstream Industry," advised the federal government not to tamper with the PIA in the name of changing the provision for deregulation.

He said government could instead revise the budget and amend the 2022 Finance Act to fit into what it wanted.

He said tampering with the Act might create more problems and send wrong signals to investors.

The economist however pointed out that subsidising consumption was not a good economic decision for any nation, saying subsidy only adds value to an economy when it was targeted to the manufacturing sector.

Aviation and later, Commander, Nigerian Army Corps of Electrical and Mechanical Engineers.

Following his stint at the NYSC, Olawumi served as Director, Policy Planning and Research at the Defence Space Administration and later, Director of Policy at the Defence Headquarters.

Olawumi obtained a first degree in Mathematics from the Nigerian Defence Academy (NDA), Bachelor of Engineering (Mechanical) from the University of Ilorin and a Masters in Defence Studies from the Kings College, London. He is an alumnus of the National Defence College, Abuja, and a proud winner of the presidential award for best graduating participant. Olawumi also holds a certificate in National and International Security from the Harvard Kennedy School.

Adeniyi also introduced the CEO of Alpha African Advisory, Mrs Sanyade Okoli, another new member who has over 27 years of financial advisory; private equity; corporate, commercial and management finance; and auditing experience. She holds an MA in Mechanical Engineering from Cambridge University, UK and trained as a Chartered Accountant with Arthur Andersen (UK). She is a member of the Institute of Chartered Accountants England & Wales and a Fellow of both the Africa Leadership Initiative-West Africa and the Aspen Global Leadership Network. Sanyade is also a regular analyst on Arise News’ Global Business report show.

Furthermore, she is the founder of inspirational blog, www.justasiam. ng and creator of life-transforming e-course, Pursuing Wholeness.

e-Invoicing: MAN Commends CBN, Calls for Postponement of Implementation Date Dike Onwuamaeze The Manufacturers Association of Nigeria (MAN) has commended recent move by the Central Bank of Nigeria (CBN) to sanitise foreign trade transactions through the recent introduction of e-Invoicing which would enable the country achieve near accurate value of imports and exports.

The Director General of MAN, Mr. Segun Ajayi-Kadir, in a statement yesterday, stated that the association had examined the recent circular issued by the CBN titled: “Guidelines on the Introduction of e-Invoicing for Import and Export in Nigeria,” and was, “persuaded that it has some measure of impact on the foreign exchange profile of the country, which appears to be a major reason for the guidelines. “ Ajayi-Kadir, however, pleaded that the CBN should suspend the

policy guidelines for now and give adequate consideration for a stakeholders’ dialogue with a view to addressing their concerns.

He noted that this was it was necessary that the apex bank’s attention be drawn to some issues that require clarifications and others that should be reviewed because the new regulation would affect the opportunity of Nigerian exporters to derive higher value for their exports.

He said, “there is need to ensure that the CBN does not go ahead to implement the guidelines without accommodating the constructive inputs of stakeholders, especially those whose businesses would be negatively impacted.”

He also stated that the 11 days’ grace between the introduction of the guideline and its effective date was rather hasty and therefore called for a review.

According to him, transaction already initiated before the introduction of the guideline should be exempted.

“We noted that the implementation date on the circular is scheduled for February 1, 2022; whereas the guideline itself was issued on the 21st January, 2022.

This is just 11 days’ grace before implementation.

“This is rather hasty. A circular on monetary or fiscal guidelines requires adequate adjustment time. This is more so when it involves international trade and transactions where a minimum of 90 days’ allowance of time is normally required, as many operators would have opened Form M and concluded deals either for import of export.

“Straightaway, one must say that transactions already embarked upon before the commencement of the

guidelines should be exempted and the commencement date should be extended by a minimum of 90 days.

“The new regulation is primarily aimed at achieving near accurate value of imports and exports in Nigeria. It says any Form M or NXP that bears a unit price in excess of 2.5 per cent of the verified global checkmate price will not be approved. This is concerning as it will checkmate the opportunity of our exporters to derive higher value for their exports. Besides, we are worried about the determination of global price verification mechanism and benchmark prices,” he said.

The director general of the MAN asked: “What happens if some companies are able to negotiate better prices due to their scale of order and are able to get competitive lower prices? Will these competitive prices be within the benchmark?”

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TEN BUHARI: MY SUCCESSOR WILL INHERIT HOME-GROWN ECONOMY, STABLE DEMOCRACY, REVAMPED SECURITY FORCES 2023 general polls.

The president, who spoke at a dinner in honour of the 2022 Committee of Business, Political, Media and Civil Society Leaders, held at the State House, Abuja, pledged his commitment to hand over a strong, repositioned, agriculture-led, diversified, home-grown economy, a stable democracy and revamped armed and security forces to the next administration.

The president, according to a statement by his Media Adviser, Femi Adesina, said he was looking forward to completing his tenure in 2023, leaving a legacy for a united, peaceful, and prosperous Nigeria with 24 years of uninterrupted democracy.

While assuring Nigerians that his administration would finish strong in the last lap of his tenure, the president said: ''I am gradually entering my final year in office.

It is a period I intend to spend not only on consolidating on the achievements of the past seven years but also to leave a legacy for a united, peaceful, and prosperous Nigeria. ''I take this initiative to mean that you all intend to collaborate with this administration in that direction. ''For those among you who are politicians, you must look beyond gaining power to how you can leverage public positions in the process of societal change.

To the businessmen and women among you, there is great glory in public service. ''The question that should be uppermost always is: How do we leverage our business endowment for the greater good of our country? ''I am delighted that members of the Nigerian elite have woken up to the fact that the task of changing this society is a task for all of us, whether we are in the private or public sector. Knowing that, we have enormous challenges as a nation, but they are not beyond our capacity to overcome if we embrace a new approach. ''We cannot retreat to our ethnic cocoons, nor can we continue to seek solace in our past. We must

champion the idea of a Nigeria where every citizen would be proud to call their own. That is the charge before you.''

Expressing delight on the new consciousness by the Nigerian elites to work together with the political class and civil society in order to build a better Nigeria, Buhari noted that building consensus around issues of the economy, national security, governance, and such other critical areas of national life is a sure path to the future we seek to build. ''As we all know, I have been very critical of the Nigerian elites, essentially because some of us have not always demonstrated that we can rise above personal

100 FOR 100 POLICY: CBN DISBURSES N23BN TO MANUFACTURERS in the healthcare sector.

He assured all current and prospective operators in the industrial sector that the CBN was ready to continue to provide the needed support, financial and otherwise, to fast-track the development of the sector.

Emefiele said the central bank would continue to provide all the needed support for the importation of plants and equipment to actualise investments in new greenfield or existing brownfield projects.

He said for this first cycle of the 100 for 100 policy, which ended yesterday, 243 applications valued at N321.06 billion, spread over key sectors, including agriculture, energy, healthcare, manufacturing, and services sectors, were submitted on the portal.

Emefiele said after much engagement, 79 applications valued at N121.87 billion, were received from banks for projects in six sectors, namely agriculture, energy, healthcare, manufacturing, mining, and services sectors. He said the requests were carefully screened and scrutinised against a setout selection criteria, and were categorised into production efficiency and scalability; local content capacity; job creation and human capital development; operating sector relevance; and potential contribution to economic growth.

But only 28 companies with projects that clearly articulated their proposals were selected for funding, he said, adding that the CBN intended to revisit the applications that were declined with a view to understanding areas of their shortcomings and enabling more companies to benefit from the initiative meant to stimulate manufacturing output in the country.

Emefiele said, “With the significant opportunities in the real sector, there remained sufficient room for additional investments in the various sub-sectors and I would like to urge potential investors to take advantage of the various CBN intervention programmes and schemes, as well as other financing options out there, to invest in key sectors of our economy given the potential gains that could be generated from them.”

Stakeholders, including Deposit Money Banks (DMBs), Manufacturers Association of Nigeria (MAN) and the beneficiary companies, all commended the apex bank and expressed confidence in the ability of its initiatives to boost domestic production as well as diversify the economy.

Emefiele also said the initiative was designed to stimulate investments in Nigeria’s priority sectors with the core objective of boosting production and productivity, which will aid efforts to stimulate greater growth of the economy and create employment opportunities.

He said, “Under this initiative, every 100 days, manufacturers in critical sectors that seek to

engage in greenfield projects or in expanding their existing facilities will have access to cheaper forms of credit at single digit rates, as well as foreign exchange to procure plants and machineries.”

He said the programme had the potential to significantly accelerate manufacturing output, promote further diversification of the economy, and facilitate faster growth of non-oil exports.

Essentially, he said the PPP would help to reduce the country’s over-reliance on imports, and stimulate productivity in agriculture, healthcare, manufacturing, extractive industries, logistics services, trade-related infrastructure, and renewable energy.

He added, “This launch also fulfils the commitment we made during the unveiling of the first central bank digital currency (CBDC), the eNaira,

by His Excellency, President Muhammadu Buhari GCFR, on the 25th of October, 2021, when we announced that the CBN will introduce a 100 for 100 – Policy on Production and Productivity (PPP), under which eligible companies in priority sectors will be screened and 100 companies will be selected to receive funding from the CBN every 100 days, beginning from 1st November 2021.

“The selection of subsequent beneficiaries will be rolled over every 100 days with new sets of 100 companies and details of these companies will be published in the major national dailies.

“Today’s launch of the 100 for 100 Policy for Production and Productivity (PPP) initiative and cheque presentation to selected companies, is a culmination of our engagements with critical stakeholders in the manufacturing sector and financial institutions, as we have here today pioneer beneficiaries of the initiative and the participating financial institutions.”

He said over the past seven years, the Buhari government had made significant effort to reduce over-reliance on imports for food and industrial raw materials, towards one that was self-sufficient and self-reliant, with strong commitment towards ensuring that Nigerians produce what they eat and eat what they produce.

The CBN governor added that in line with the administration’s policy focus to stimulate domestic production and productivity, the central bank had continued to introduce various policy measures, in the form of interventions, to stimulate lowcost and sustainable financing to priority sectors and segments of the economy.

He said, “The 100 for 100 Policy for Production and Productivity (PPP) is one of such interventions designed to fast track productive activities in priority sectors. Under this programme, eligible applicants will be required to submit their applications to their banks, after which, a notification

is submitted on a dedicated portal – https://100for100ppp. ng, which has been created to ensure transparency and allow applicants track the status of their applications.”

Commenting further on the new FX policy being worked on, he said, “It is being worked on and I can tell. But what we are saying in essence is that you would find a situation where those who will benefit from FX or who would be accorded priority – everybody will benefit – but those who would be accorded priority in FX allocation will be those who will embrace our interventions that will help to grow the economy; intervention that will create jobs for our people, not just people who just want to import and export everything- anything they do is import.”

He added, “We want to see to it that you are conducting business activities that reduce our imports and reduce your level of import, reduces your reliance on raw materials imports. But rather, there would be plants, equipment, spares priority and also ensure that by the time you are in business, the level of import you need will be very minimal, if not entirely zero.

“Those will be the kinds of companies we will accord priority in FX allocation going forward.”

He said the new framework being fine-tuned would be market-driven and would support companies that accord utmost priority for local production and job creation drive.

The central bank also said it

was working to stimulate non-oil export to boost foreign exchange earnings in the country.

The CBN governor said though details of the proposed FX policy were still being worked on, FX supply would be mostly allotted for the importation of spares, plants and equipment needed to increase production capacities of local companies.

Meanwhile, the CBN’s real sector intervention drive continued to receive accolades from the federal government.

Secretary to the Government of the Federation, Mr. Boss Mustapha, while commending Emefiele, described the policy initiative as well thought out, adding that it would significantly impact the economy if well implemented.

Minister for Labour and Employment, Dr. Chris Ngige, lauded the CBN for spurring economic activities through its various intervention programmes. Ngige noted that while productivity remained crucial for economic growth, the apex bank’s interventions had been key in achieving Buhari’s aspiration to lift 100 million Nigerians out of poverty.

Ngige said the country must take advantage of its growing population to boost the economy.

He warned that the country might be sitting on a keg of gunpowder if nothing was done to address youth restiveness through employment generation.

Stressing that the Nigerian economy was still not properly diversified, he said without the various CBN interventions, the economy might collapse.

gain, political partisanship as well as ethnic and religious differences when the situation demands that we all speak and or act as one in the interest of our country. ''There are also many among our elites for whom profit remains the only motivation for any and every enterprise. ''But now, I feel heartened that a more collaborative social enterprise model for resolving our common challenges is being forged. ''I must commend this initiative and its conveners. This is the kind of spirit I have always advocated because it is what we need at this time as we seek to build our society for peace, security and prosperity through dialogue while narrowing the gap between rich and poor,'' he said.

On the activities of the Committee, the president acknowledged that he was aware that attendance at their inaugural meeting on Sunday cut across a broad section of the society in the public, private sectors, civil society, and the youth.

Buhari, therefore, lauded the group for rising above all ethnic and religious divides for the common good, describing the feat as ‘‘fantastic’’.

The president, who said he had wished the group had convened earlier, advised them to try and accommodate a few more interests in their next meeting as they take a, ''deeper dive into our national challenges and proffer workable and sustainable solutions for the near, medium, and long term.” ''It is our desire to finish strong in the next 16 months and ensure all hands are on deck for the last lap. We are doubling our efforts against all forms of insecurity, equipping our armed forces and strengthening the police. ''We are determined to continue the war against corruption and fight poverty, we remain focused on building an all-inclusive economic opportunity for all citizens,'' he said.

The president told the meeting that despite the enormous problems inherited when he assumed office almost seven years ago, he could look back with satisfaction that this administration has kept faith with the people and has done well even amid dwindling resources for reasons that are well beyond our control. ''But we probably would have fared even better if we secured the support of most of you that are here today, know that while government comes and goes, the country must remain and thrive.''

Buhari used the occasion to wish politicians, at the dinner, interested in elective positions in the 2023 polls the best, advising that, ''there is nothing better than experience in leadership.''

Responding to concerns raised

by Governor Kayode Fayemi of Ekiti State on the resurgence of military takeovers in Mali, Guinea and Burkina Faso in August 2020, September 2021 and January 2022, respectively, the president said he strongly believed that, “Nigeria has passed through that stage for good.’’

On the political situation in some West African countries, Fayemi said: ''We believe Nigeria has a manifest destiny to protect democracy not just in Nigeria but also in our region. But in doing that we must ensure that our politicians adhere strictly to constitutional principles and I am happy that our President's position on leaders seeking third term is well known.''

Giving further insight on the workings of the Committee, Fayemi said Nigerians who benefitted from the country in good time, serving in different capacities, have a duty to support the country.

"What the Committee has tried to do is to develop an elite consensus on security and economy, '' he said.

According to him, the Committee would take advantage of the president's consistent leadership, relentless passion and patriotism to ensure a seamless transition, while ensuring that the achievements of this administration are sustained and followed through for the benefit of the country.

"Here we have PDP and APC chieftains and we hope by the time we finish this work, what we will present to the President is void of partisan colorations. It is from people who want Nigerians to succeed," he added.

Also speaking, Convener of the Group, Obaigbena said with Nigeria facing a ''historic transition like no other'', and with crisis across Africa and at home, the 2022 Committee emerged to ''defend the national interest.''

According to him: ''The 2022 Committee was put together to defend Nigeria in a time of crisis and in a time of transition, we must defend the national interest,’’ he said, noting that membership of the group were carefully selected from the business community, investors, governors, security sector and elder statesmen.

NATIONAL ASSEMBLY TRANSMITS REWORKED ELECTORAL ACT AMENDMENT BILL TO BUHARI FOR ASSENT for assent. Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Babajide Omoworare, disclosed this in a one-page statement, titled, "Transmission of the Electoral Bill 2022."

Omoworare stated that the Clerk to the National Assembly, Mr Olatunde Moses Ojo, had transmitted authentic copies of the bill to the president. He stressed that this was in accordance with the provisions of Section 58 (3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the Acts Authentication Act Cap. A2 LFN 2004.

The release read in part, "The Clerk to the National Assembly Mr. Olatunde Amos Ojo, has transmitted the authenticated copies of the Electoral Bill 2022 to the President of the Federal Republic of Nigeria Muhammadu Buhari, GCFR, on 31st January 2022.

"This was done in accordance with the provisions of Section 58 (3) of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the Acts Authentication Act Cap. A2 LFN 2004.

"Mr. President had withheld assent to the Electoral Bill 2021 transmitted to him on 19th November 2021. The Electoral Bill was thereafter reworked by the National Assembly and

both the Senate and the House of Representatives passed same on 25th January 2022."

The National Assembly had last Tuesday passed the harmonised version of Clause 84 of the 2010 Electoral Act (amendment) Bill 2022, which allows political parties' to adopt three modes of primaries.

The bill earlier passed last year, was not assented to by Buhari, who cited the provisions of Clause 84 that made direct primary compulsory for all political parties in electing their candidates for elections.

The two chambers of the National Assembly then recommitted the bill for fresh legislation and added other options, as advised by the president.

The harmonised version now accommodates direct, indirect, and consensus modes of primary election.

The senate had earlier passed the three modes of primary, but the House of Representatives version did not include the consensus arrangement. The red chamber considered the harmonised version of the bill at plenary and passed the proposed legislation.

Senate President Ahmad Lawan said the bill had given sufficient and clear definitions to the modes of primary elections now adopted by both chambers of the National Assembly.

The re-amendment was sequel

to a motion on, “Rescission on Clause 84 of the Electoral Act No. 26 2010 (Amendment) Bill, 2022 and Committal to the Committee of the Whole.” The motion was sponsored by Senate Leader, Yahaya Abdullahi (Kebbi North).

The amended bill provides in Clause 84 (2), “The procedure for the nomination of candidates by political parties for the various elective positions shall be by direct, indirect primaries or Consensus.”

It adds in 84(3), “A political party shall not impose nomination qualification or disqualification criteria, measures, or conditions on any aspirant or candidate for any election in its constitution, guidelines, or rules for nomination of candidates for elections, except as prescribed under sections 65, 66, 106, 107, 131, 137, 177 and 187 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).”

On Direct Primaries in 84 (4), the amended version provides, “A political party that adopts the direct primaries procedure shall ensure that all aspirants are given equal opportunity of being voted for by members of the party and shall adopt the procedure outlined below: “(a) In the case of Presidential Primaries, all registered members of the party shall vote for aspirants of their choice at a designated centre at each ward of the Federa-

tion. “(b) The procedure in paragraph (a) above of this subsection shall be adopted for direct primaries in respect of Gubernatorial, Senatorial, Federal and State Constituencies.”

On Indirect Primaries, the bill provides under 84(5), “A political party that adopts the system of indirect primaries for the choice of its candidate shall adopt the procedure outlined below: “(a) In the case of nominations to the position of Presidential candidate, the political party shall - (i) hold a Special Presidential Convention at a designated centre in the Federal Capital Territory or any other place within the Federation that is agreed to by the National Executive Committee of the party where delegates shall vote for aspirants of their choice. “(ii) the aspirant with the highest number of votes cast at the end of voting shall be declared the winner of the Presidential primaries of the political party and that aspirant’s name shall be forwarded to the Commission as the candidate of the party.”

On Consensus Candidate the bill in 84(9)(a) provides, “A political party that adopts a consensus candidate shall secure the written consent of all cleared aspirants for the position, indicating their voluntary withdrawal from the race and their endorsement of the consensus candidate."

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NEWS

PRESENTATION TO NATIONAL RESEARCH AND INNOVATION COUNCIL...

L-R: Minister of Science and Technology, Dr. Ogbonaya Onu; Vice President/Chairman of National Research and Innovation, Prof. Yemi Osinbajo; Minister of Environment, Suleiman Adamu, and Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, during the presentation by the Minister of Science and Technology to the National Research and Innovation Council at Abuja...yesterday

Mass Exodus from Niger Villages as Terrorists Continue Attack Seven LGAs under frequent siege of bandits, governor cries out Niger records highest number of out of school children in north central State government blames Galape, Kudodo communities for incidence Laleye Dipo in Minna There is a mass exodus of villagers from Galadima Kogo and neighboring villages following continued raid carried out by terrorists in the Shiroro local government of Niger state.

But Niger State Governor, Alhaji Abubakar Sani Bello has disclosed that not less than seven out of the 25 local governments in the state are frequently under attack by bandits and terrorists.

The state government also blamed the latest attacks in Galadima Kogo and neighboring villages on the inability of people in Galape and Kudodo communities to share intelligence with the "security operatives on the ground."

The raids which started on Saturday, continued till the early hours of Monday, leaving several people dead, houses and bans burnt and many cattle rustled.

The security post in Galadima kogo the most affected community was razed.

Several villagers have been

migrating since Sunday afternoon to safer places with some settling in Sarkin- Pawa, Kuta and Zumba towns.

The villagers were moving with their children and little household items that would not impede their escape.

However, the exodus was said to be hampered by lack of vehicles because it was learnt that commercial vehicles have now abandoned the routes for fear of attack.

The Commissioner for Local Government and Internal Security, Niger State, Mr. Emmanuel Umar confirmed the development.

He, however, said the state government would embark on air and land bombardments to dislodge the terrorists from the areas they are presently occupying.

He also confirmed the death of eight security operatives who he said were ambushed and killed by the bandits, adding that undisclosed number of men of the Civilian Joint Task Force were also affected.

Meanwhile, Bello disclosed that

AU Suspends Burkina Faso over Coup, President Kabore’s Sack Michael Olugbode in Abuja The African Union (AU), has suspended Burkina Faso’s membership following last week coup that ousted democratically elected President Roch Marc Christian Kabore.

AU said the suspension of the West Africa country would remain until constitutional order was restored in the country.

“Council decides in line with the relevant AU instruments to suspend the participation of Burkina Faso in all AU activities until the effective restoration of constitutional order in the country,” AU said in a tweet on Monday.

The Economic Community of West African States (ECOWAS), had earlier suspended Burkina Faso and demanded the immediate release of ousted President Kabore, who had since been detained by the military junta.

There were indications that a delegation from ECOWAS and an

envoy of the United Nations (UN) were due to visit the country to meet with the military leaders before coming out with more actions.

Also, several countries and international bodies had since the military take-over condemned the action, fearing that it could further destabilise a country that had been traumatised by Islamist violence.

However, it yet to be seen how the leader of the military junta, Paul-Henri Damiba, would accede to pressure to hand back government, since he had already said the country would return to constitutional order “when the conditions are right”.

He took the excuse of the inability of the ousted government to arrest the threat of the terrorist group to seized power.

Mali and Guinea, after military takeovers in 2021, were also suspended by the AU. The latest coup in Burkina Faso was the fourth in the West African region in 18 months.

not less than seven out of the 25 local governments in the state are frequently under attack by bandits and terrorists.

This is even as the number of out-of-school children in the state has reached over 298 962 the highest in the north-central geo-political zone of the country.

The governor spoke during the flag-off of the North Central Geo-political zone campaign against Out-of-school children in Minna, yesterday.

The Commissioner for Education Hajia Hanatu Jibrin Salihu gave the figure of the out-of-school children in the state at the forum, pointed out that before 2015, the figure was 513, 963 children, saying because of several interventions, the figure had dropped to 298, 292 children.

Bello said there was a nexus between the number of out-of- school children and insecurity that had plagued the seven local governments in the state saying: "When we talk about out of School Children, the question begging for answer is: Why are there so many out-of-School children? Obviously, our size and current security situation plays a major role.

Bello admitted that part of the security challenges confronting the north was due to the large number of out-of-school children who are

now constituting a menace to the society.

"Most of the children of the Fulani herders do not attend school therefore they become vulnerable for people to recruit into banditry, invariably there is a nexus between school dropout and security challenge,” he said.

He, therefore, appealed to the federal government and other development partners to redouble efforts at making education accessible to more Nigerian children.

“Education is not cheap, but it is an investment we must do if we are to secure the future of our children and Nation," he added.

Niger State Commissioner for Education Hajia Hanatu Jibrin Salihu in an address said: " In an address, the Minister of State, Education, Mr. Chukwemeka Nwajiuba, said the federal government was worried about the staggering number of out-of-school children in the country and the danger it poses to the future of the nation.

Nwajiuba, therefore called on all stakeholders to join hands with government to stamp out the trend, urging Niger state to sustain the momentum in its school enrolment programme in the 25 local government areas.

"No nation can make meaningful

progress with a large percentage of its children out of school, it is not just a social phenomenon, but an economic characteristic," he said.

However, though the government had condemned the attack describing it as, "regrettable and unfortunate" it however claimed the incident "would have been unsuccessful if villagers from Galape and Kudodo in Allawa community had alerted the security agencies when they noticed movements of the terrorists towards the town."

The government therefore urged, "villagers in the affected communities to endeavor to provide credible information to the Joint Security Taskforce stationed in the area" adding that, "security agencies cannot perform effectively and efficiently without getting appropriate support and intelligence from the people."

The government’s reaction was contained in a statement credited to Governor Abubakar Sani Bello which was signed by his Chief Press Secretary, Mrs. Mary Noel Berje and made available to newsmen in Minna.

The governor however called for calm and urged the fleeing communities in Galadiman- Kogo and Kuchi in Shiroro and Munya local governments, "to await swift and immediate response from the Joint Security Taskforce," stressing

that, "their earlier withdrawal was tactical in order to restrategise."

Bello disclosed that the state government had already secured the order and clearance of President Muhammadu Buhari to carry out intensive military operations in Shiroro, Munya and Rafi local governments axis. He assured that ground and airstrikes would continue to comb the areas so as to flush out those miscreants.

"We have really run out of patience with the terrorists and we will use every means possible to bring an end to this incessant bloody attacks on innocent people.

We will do everything to stop the killings and return normalcy to the affected communities," he added.

The governor then prayed for the repose of the souls of the Joint Security Taskforce members and villagers who lost their lives during the attack and directed the State Emergency Management Agency (NSEMA) to urgently provide succour to the injured and displaced.

No fewer than 12 of men of the Joint Security Task Force, unknown number of villagers were killed and many others injured and displaced in the raid carried out by the bandits between last Saturday and Sunday.

Several houses, vehicles and bans were burnt and a large number of cattle rustled.

2023: I’ll Run for President if PDP Throws Contest Open, Zones to South, Says Obi David-Chyddy Eleke in Awka A former Governor of Anambra State, Mr Peter Obi, has said he would contest the 2023 presidential election if his party, the Peoples Democratic Party (PDP), threw it open for all to contest, or zoned it to the south.

A press release by Obi’s media aide, Mr Val Obienyem, quoted the businessman as saying he was capable of turning around the fortunes of the country, but would wait on the decision of the PDP before he declares his intention.

Obi said: “All the elections that I followed in the past, the party that I belong to today, the PDP,

made a pronunciation and took a stand. At least, in 2019, when I was involved, where I can say Atiku graciously chose me as his running mate, which I remain eternally grateful to him for, the party decided that the candidate should come from the North and that was what the party decided.

“And I believe that the party owes it a duty to say what their stand is. If their stand today is South, rest assured I am aspiring, if they say North, I can’t do otherwise or they chose the option that everybody is free, then, of course, you will be hearing from me.”

While affirming his commitment to building a better Nigeria, Obi,

who was PDP's vice-presidential candidate in the 2019 elections, advised all and sundry to choose a candidate, who was competent and most importantly, has integrity.

His words: “What we are looking for in this country today are people of integrity, people of conscience; people, who are less greedy. Educational qualification is not a measure of integrity; it doesn’t guarantee that somebody is less greedy or that people have conscience.

“I have seen people here acquire what they don’t need.

I saw it while I was serving, to fight corruption here, you need somebody, who has integrity, who is not greedy, who has conscience.

If you have that, fighting corruption is easy, because if you, who is in charge is not stealing, you will reduce stealing by 50 to 70 per cent. And, it is critical that you have somebody who is like that.

“It is not when people are acquiring lands, houses, everything they don’t need; they want to live a lifestyle that is far beyond the economy of Nigeria, far beyond their earnings, that is why the place is collapsing. That is why we have insecurity, that is why we have poverty. We need to manage the costs efficiently and these are the critical areas as you people know as you look for people, who will govern the country in the future,” he noted.

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COMMENT

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

NIGERIA’S UNITARY FEDERALISTS VERSUS RESTRUCTURALISTS Ejeviome Eloho Otobo and Oseloka H. Obaze write that Nigeria is in dire need of transformative leaders

T

wo contending perspectives have emerged in response to one of Nigeria’s most pressing public policy challenges: restructuring. These may be classified as the “Unitary Federalists” and the “Restructuralists.” The term “unitary federalists” is an oxymoron. But that is the puzzling juncture where Nigeria is ensconced: operating a unitary system behind the façade of federalism. The genesis of Nigeria devolving from the federal system adopted in the Independence (1960) and Republican (1963) constitutions to a unitary federalist system is traceable to 29 years of serial military interventions.

The chasm between Unitary Federalists and the Restructuralists emanate from the conflicting outlooks regarding the process of handing down the 1999 Constitution to the protection of the federal character principle and the division of responsibilities between the federal government and sub-national units as outlined in the 1999 Constitution. The unitary federalists seem content with the current arrangements on all issues. By insisting on maintaining the status quo, the unitary federalists are not unaware of existing structural defects, or denying the problems posed by the current system. Instead, they seem certain that these problems would be resolved ultimately, without providing a roadmap for doing so and seemingly oblivious of the strains that the current political arrangements impose on Nigeria.

The point of divergence for the Restructuralists begins with comparing the political processes leading to the enactment of the 1979 and the 1999 constitutions. They acknowledge that the adoption of both constitutions was preceded by the establishment of a constitution drafting committee composed of eminent Nigerians. There the similarities end. The Restructuralists note that, while the key recommendations from the constituent assembly of 1978 were largely incorporated into the 1979 Constitution; the key recommendations from the 1994-1995 Constitutional Review Conference were omitted from the 1999 Constitution.

An important example was the omission of the rotational presidency, which had been incorporated in section 229 (1) of the stillborn 1995 Constitution, leading to the lingering national discontent on equitable power sharing. The Restructuralists also complain about the deviations from several provisions of the 1999 Constitution, especially as regards the protection of the principle of federal character. Specifically, the Restructuralists maintain that the letter and spirit of sections 14 (3) and 171 (5) of the 1999 Constitution have been breached in the appointments to and composition of leadership positions in several agencies, thus undermining the constitutional commitment to promoting national unity. Not surprisingly, the Restructuralists deem the 1999 Constitution as being of dubious provenance.

The Restructuralists make their case for reforms on the basis of the experience in the pre-military federal constitutions and inspired by best practices of other countries around the world that operate functional federal systems of government. Hence, they canvass for devolution of powers from the federal to the sub-national levels in carefully selected areas. These include areas such as state policing, natural resources control and management, corporate registration, public utilities supply, and judicial reforms that strike a new balance the states and federal

government.

With subtlety, the Restructuralists hint that the unitary federalists are culpable for the non-implementation of the reports of the 2005 National Political Reform Conference and the 2014 National Political Conference, which would have addressed myriad outstanding political issues. However, this charge leveled by the Restructuralists fails to stand close scrutiny in so far as preoccupation with their self-interests rather than commitment to a set of deeply held values and ideology animates the actions of political leaders on both sides of the debate. This explains why most political leaders are restructuralists and progressives, when out of power; but become unitary federalists and conservative, when in power.

While inertia on constitutional and political reforms persists, the contest for Nigeria’s presidency has become a convenient modality which presidential aspirants use for promising desired constitutional reforms. Incorporating pledges on restructuring in political parties’ platforms has become the default approach in making the electorate look forward to major structural political reforms. More often than not, those pledges on restructuring are disowned or discarded upon coming to power. The forthcoming 2023 presidential election is

THE RESTRUCTURALISTS MAKE THEIR CASE FOR REFORMS ON THE BASIS OF THE EXPERIENCE IN THE PRE-MILITARY FEDERAL CONSTITUTIONS AND INSPIRED BY BEST PRACTICES OF OTHER COUNTRIES AROUND THE WORLD THAT OPERATE FUNCTIONAL FEDERAL SYSTEMS OF GOVERNMENT

likely to follow a similar trajectory, marked by a surfeit of promises on constitutional and political reforms. The intensification of the political rhetoric on the zoning arrangement for the presidency only heightens those probabilities. Already, various groups from the North and South have staked claims on their turn to contest the presidency, leading to increased political acrimony. This is at once evidence of national dissonance arising from unresolved issues of equitable power and resource sharing as it is indicative of lack of elite consensus, one of the most important issues of national interest.

At issue, is how best to manage the country’s diversity through a political process that is fair, equitable and generate a deep sense of belonging for all citizens. The failure of the national political process to deliver on these national objectives has led to pervasive discontent.

Whenever these issues have generated much political tensions, pessimists are quick to point to the danger of national disintegration.

Nigeria has, however, always managed to pull back from the precipice. As one of us posited elsewhere, “the cumulative effect of these episodes of national political brinksmanship is analogous to a person who has suffered from a series of strokes or heart attacks: the physical health is never steady or normal thereafter.”

Nigeria’s political leaders, in their moments of exuberance, declaim that Nigeria will emerge stronger from every crisis it has encountered.

Nigeria’s history has not borne out that affirmation. Instead, its experience mimics a serial sufferer of strokes and heart attacks, emerging weaker after each episode. This is why Nigeria is weaker than it would have been without those episodic bouts of political crises. Lurching from one political or security crisis to another is not a recipe for resilient nation building. If Nigeria must fulfill her aspirations for a united, prosperous and peaceful country, anchored on justice and equity, and thus re-claim her leadership role; transformative leaders -- statesmen/ women-- need to emerge in place of transactional political leaders.

Otobo is a Non-Resident Senior Fellow at the Global Governance Institute, Brussels. Obaze is Managing Director and Chief Executive Officer, Selonnes Consult in Awka

PUTTING THE BEST FOOT FORWARD

The conduct of the PDP governorship primaries in Ekiti has further validated the leadership capacity of Udom Emmanuel, writes Bade Sowumi

H

e came into politics from the corporate world. Udom Emmanuel, a successful banker came into the Akwa-Ibom political space and things turned for the better. He was underrated when he assumed office in 2015. Many thought that as an accomplished professional and boardroom guru, it will be difficult to connect with the people and chart a political path for himself. Those who thought Governor Udom will be remote-controlled by some godfather were shocked when the governor displayed his courage of conviction. He rebuffed all entreaties and even blackmail to ditch the umbrella for the broom when his predecessor bade the Peoples Democratic Party (PDP) and joined the ruling All Progressives Congress (APC). Emmanuel retained the mandate of the people with the PDP. It was not an easy political decision. A politician who is not sagacious and well-knitted with the grassroots and the power structures in and outside the state would have been swept off by the behemoth Akpabio. It was in 2018, a penultimate elections year.

Any miscalculation could have been mortally fatal and disastrous. In fact, it was the defining moment for the political career of Udom Emmanuel. But he weathered the storm and gave hope and leadership to the ranks and file of the Akwa Ibom PDP after the self-style uncommon ‘General’ abandoned the troops when general elections were fast approaching. In a deft move to cow Emmanuel and browbeat him to the otherside, the anti-graft agency reportedly froze the state accounts following the gale of defections

to the APC. He was undeterred, he stood firm like the rock of Gibraltar. As his name connotes, the Lord was with him. Expectedly, the leadership and courage of Governor Emmanuel earned him a vote of confidence from his party. On Monday, August 20, 2018, and a deft political move to pooh-pooh the defection of the former governor, the PDP organized ‘Eket Senatorial District Mega Endorsement Rally’ at the Onna Township Stadium.

The statement issued by the organizsers described the elaborate political event as a “grand Homecoming of an Illustrious Son of Eket senatorial district”.

“Among reasons cited for the celebration of the Governor by his senatorial district are his ingenuity, which has led to numerous industries, job opportunities, free education with WAEC fees, stability in power supply, improved healthcare delivery, affordable and sufficient food supply and security, and lots more, ” the organisers noted.

He re-affirmed his political sagacity at the polls when he trounced Nsima Ekere, the APC governorship flag bearer and the new godson of ex-governor Akpabio. It was a landslide defeat of 519,712 votes.

While Ekere garnered 171, 978 votes.

Since then, the political profile of the governor has continued to grow steadily across Nigeria. The leading opposition PDP holds him in high esteem as one of the most intellectually cerebral and highly skillful governors in the fold. They have found him worthy in many instances, and when trust matters, Governor Emmanuel readily comes to mind.

On Friday, 21 January , 2022, Governor Emmanuel was among the high-power PDP delegation that

stormed Lagos for the formal defection of an erstwhile Lagos APC splinter group, Lagos4Lagos into the Peoples Democratic Party. In a show of solidarity and might, the PDP governors including National Chairman, Senator Iyiocha Ayu, Nyesome Wike (Rivers), Seyi Makinde (Oyo), Okezie Ikpeazu (Abia), Ifeanyi Ugwuanyi (Enugu) among others, came.

Udom, who plied his trade as a banker in tie and suit on upscale Victoria Island returned to Lagos in full Lagosian regalia with the symbolic Eyo hat to match. Politics is all about the people and everything must be done to connect with them. Culture and mode of dressing are great sources of connections.

One after the other, the PDP leaders spoke on the need to dislodge the APC from Alausa and kick out the APC from the Aso Villa. The following week, the PDP saddled Governor Emmanuel with another critical assignment. He was sent to Ekiti State, the West bastion of knowledge to conduct the primaries.

The governorship election is scheduled for Saturday, June 18, 2022, so there is a need for a respected and trusted stalwart to conduct the primary election that will be largely acceptable to party stakeholders in Ekiti.

Moreso, a politically advanced state like Ekiti required someone who is known to be above board to lead the process. Hence, the nomination of Emmanuel to handle the delicate assignment. Other members of the team are Nigeria’s former Minister of State for Defence, Erelu Olusola Obada; the Deputy Minority Leader of the House of Representatives, Toby Okechukwu, served as the secretary

of the Committee Secretary.Some 17 aspirants had earlier been cleared by the PDP Screening Committee to participate in the primary; meanwhile, it was only six aspirants who actively participated in the poll.

Governor Emmanuel upheld the promise he made to the party and the PDP members in Ekiti of being above board in the conduct of free and fair, credible primary elections. He offered a level-playing ground to all aspirants who contested for the party ticket in the indirect primary.

The integrity and trust the people reposed in the governor was largely responsible for minimal postelection rancour. Save for the Senator representing Ekiti South, Senator Abiodun Olujimi who expressed concerns on alleged disenfranchisement of delegates, the exercise has been largely commended by the majority of the stakeholders.

In the total tally, a former chairman of the party in Ekiti State, Olabisi Kolapo who emerged winner scored 671; former governor Segun Oni came second with 330 votes; a candidate of the PDP in the 2018 Ekiti governorship election, Kolapo Eleka scored 93 votes; Wale Aribisala got 56 votes, Kayode Adaramodu got 10,Kazeem Ogunsakin garnered 6, Ajibola Latif, Kemi Ojo, Deborah Ali, and Makanjuola got one each. Meanwhile, Abiodun Olujimi who was reported to have withdrawn got two votes.

Governor Udom Emmanuel lived up to the expectations as the results reflected the popular will of the PDP members in Ekiti. The smooth conduct of the exercise has further validated the organizational and leadership capacity of the governor of AkwaIbom State.

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T H I S D AY • TUESDAY, FEBRUARY 1, 2022

EDITORIAL NBA AND JUSTICE SECTOR REFORM Critical stakeholders must work to restore integrity to the bar and the bench

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pparently concerned by the crisis of credibility that has for long dogged the judicial arm of government in Nigeria and the damage it is inflicting on national psyche, the Nigerian Bar Association (NBA) last Tuesday in Abuja hosted an important Justice Sector Summit which brought together critical stakeholders to discuss the ills plaguing the judiciary and explore possible solutions. In attendance from the executive arm were Vice President Yemi Osinbajo, SAN and the Attorney General of the Federation, Abubakar Malami, SAN. Four Justices of the Supreme Court, Chief Judges and High Court Judges from several states and other judicial officers were also present. Chairman of the House of Representatives Committee on Judiciary, Onofiok Luke represented the THE BAR AND THE BENCH legislature.

NEED TO RISE ABOVE NBA president, THE INTERESTS THAT Olumide Akpata ARE HOLDING BACK FAIR set the tone for AND EQUITABLE JUSTICE discussion by ADMINISTRATION IN NIGERIA admitting that there is a convergence of opinion of both the bar and the bench as well as the general populace that the Nigerian justice delivery system is hampered by several factors and falls far short of expectations. Akpata highlighted three thematic areas for the summit to address: the appointment/ selection and discipline of judges; independence and financial autonomy which has a direct bearing on the welfare of judges; and the need to enhance efficiency and efficacy of the system to reduce the chronic delay in the determination of cases in the country.

Many of the lawyers who spoke at the NBA session lamented the reluctance of the judiciary to apply requisite disciplinary sanctions on erring lawyers, especially in the award of costs on full indemnity basis which they argue would significantly reduce incidents of indiscipline in the bar. Lawyers also

Letters to the Editor

rekindled the historical discussions on the need to widen the net in the appointment and selection of judges since the current restrictive system has proved unhelpful in attracting quality and credible people to the bench. At the end, participants left the summit with a clear reminder of what the issues are, and a sense of the urgency required to tackle them.

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T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

HEALTH SECTOR REFORM IN EDO

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he ongoing reforms in the Edo State health sector by Governor Godwin Obaseki have continued to receive positive reviews by key players in the sector.

With the enthusiastic campaign across the state for residents to sign unto the health insurance scheme, the massive investment in primary health care centres in all the local government areas, the transfer of personnel and deployment of equipment to these centers, the ongoing expansion of the Stella Obasanjo Hospital in Benin City the state capital, and the plan to build at least one specialist hospital in each of the three senatorial districts, amongst other strategic projects, clearly, Edo is well on its way to becoming one of the preferred destinations for medical tourism.

As impactful and strategic as this investment is, no noise is being made about it, an administrative style that has come to define the Obaseki brand. These projects are fast addressing the age-old challenges in the health sector such as the dearth of modern medical equipment, decaying health infrastructure, inadequate personnel and poor funding of the sector.

In particular, the construction and rehabilitation of primary health care centers across the 18 local government areas of the state have increased access to quality, affordable and accessible health care.

Taking cognizance of the challenges residents in the

e must commend the NBA leadership for the Abuja summit. At another session in Lagos last Saturday with the Body of Senior Advocates of Nigeria (BOSAN), Osinbajo underscored the critical role of lawyers in justice administration. “Our system of justice is a public resource, it does not belong to the legal profession, it does not belong to the bar or to the bench. It belongs to the people,” said Osinbajo. “We are paid operators of a service that our constitution created to resolve their disputes and give justice.

We are custodians, not owners. When this public resource is not working effectively on account of delays, or it is being discredited by corruption, we the operators have a moral, legal and civic obligation to fix it.”

Meanwhile, some of the concerns highlighted by judges who attended the NBA Summit in Abuja include the need for true financial autonomy, improved welfare of judges as well as cessation of the harassment and intimidation of judges by law enforcement agencies, etc. In counter, representatives of the executive stressed the need for more accountability by the judicial arm that had so far resisted attempts to get them to open their books for scrutiny.

Overall, the Abuja summit provided the relevant stakeholders with the opportunity to appraise the justice delivery system in Nigeria and to freely express themselves in a bid to identify the problem and proffer solutions. The bar and the bench need to rise above the interests that are holding back fair and equitable justice administration in Nigeria.

Also paramount is that all critical stakeholders must work to restore integrity to the bar and the bench in Nigeria.

rural areas used to face in accessing quality health care, the revamped primary health care centers now serve as the first port of call for Edo people.

Explaining the linkage between these primary health care centers and specialist hospitals, Obaseki said: “It is only based on reference from these units that you now come to a specialist hospital. We intend to provide world-class services that will stop medical tourism and you can afford these services by keying into our health insurance policy.”

In order to consolidate on the gains so far recorded in the primary health care system, the state government has expedited work on the expansion of the Central Hospital in Benin City, to conform to a 21st Century health care center.

With a section of the hospital currently merged with the Edo Specialist Hospital and other sections relocated to the Stella Obasanjo Hospital where massive construction work is currently ongoing, secondary health care needs will be adequately tackled.

As part of a grand design, the Governor has also rolled out plans to build a specialist hospital in each of the three senatorial districts. The project is deemed to be ready by the last quarter of 2022 as the facilities would be open to the first set of patients before the 2022 Alaghodaro Summit.

Aichienede Akhabue Goodluck, Benin City

RITUAL KILLINGS IN NIGERIA

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he spate of ritual killings is shocking.

Most of the victims were killed in a bid for their killers to make money.

One wonders what our society has become and how we can curb this trend about to destroy our society.

Some will argue that the trend has been in existence for long and nothing can be done about it, but should we be barbaric in all areas to make money? The conversation of the African culture is rife as some say the constant need to spill blood as a form of ablution is the reason for these killings. At our traditional festivals we are so quick to spill the blood of any living thing.

There is also a conversation on when will Africa pivot from blood -letting in its traditional worship but other argue that African traditional worship frowns at killings. It strongly supports the ethos of togetherness and love.

The question on the front burner is: does anyone get rich from ritual killings? I interviewed over 10 people by asking if they have seen how ritual killings translate to wealth.

What they all said was it was based on hearsay.

In most cases they stated that it was attributed to what people say about sudden wealth.

I stand to be corrected but there is no empirical correlation between ritual killings and wealth and those videos of a particular spirit bringing money in the night to people remains figment of imagination.

So I ask: Why did the media create an imaginative correlation of spirits bringing money to people after ritual killings? Could this have been used to bolster the claim that ritual killings lead to money? Could the media have increased the problem? Or was it because they wanted to sell sensation to people and make money? Should the censor’s board censor movies on ritual killings?

In 1992 the first mainstream movie on Nigerian home video as it was called made the rounds. It was the story of Andy and the movie was “Living in Bondage.” The movie tells the story of the occult world and the story of ritual killings. I recently did a survey and I discovered that most people surveyed said “Living in Bondage” was their first major introduction to ritual killings, although they couldn’t link the empirical proof that ritual killings bring wealth but they believe it does; and they also said they heard stories that some ritualist were wealthy.

Rufai Oseni, rufaioseni@gmail.com

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T H I S D AY ˾ TUESDAY FEBRUARY 1, 2022

POLITICS

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

Emmanuel Makes His Most Audacious Political Move Yet Nseobong Okon-Ekong writes that Governor Udom Emmanuel has executed a deft political master stroke that many stakeholders did not see coming

Emmanuel

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takeholders of the Peoples Democratic Party (PDP) and political pundits in Akwa Ibom State who had their fingers crossed for a long time were caught napping on Sunday evening when Governor Udom Emmanuel revealed the man he prefers to hand over governance of the state to.

Pastor Umo Eno, the man after Emmanuel’s heart currently serves in the state executive council as Commissioner for Lands amd Water Resources. It is one year exactly since he was brought into the cabinet, in a strategic reshuffle that has allowed him to understand the inner working of government at that level.

For close to two years Eno’s name was frequently mentioned in political discussions as Emmanuel’s likely successor along with the likes of Mr. Akan Okon, Commissioner for Aviation and Special Duties and Mr. Udom Inoyo, a former executive director with ExxonMobil. Outside the Akwa Ibom governor ’s catchment, Senator Bassey Albert and Rt. Hon. Onofiok Luke made no secret of their intention to contest the governorship election.

Albert, Inoyo, Okon and Luke have openly inaugurated campaign bodies that continue to work for the realisation of their ambition.

With the recent turn of events, however, Inoyo and Okon are likely to eat the humble pie and beat a retreat to queue behind the governor ’s preferred candidate. Bassey, who, arguably has been most zealous in his quest for the governorship position has elected to keep his gun powder dry for now. But Luke will have none of it. He came out smoking in a statement that communicated his unequivocal resolve to chase his dream to be governor of Akwa Ibom State in 2023 to the end.

Luke who stormed out of the stakeholders meeting where Governor Emmanuel was assisted by former Governor Victor Attah to make his choice of Eno public, later issued a seven-point statement titled, ‘We Are Still on Course.’ He said among other things that he attended the meeting out of respect for the governor and as a loyal party man. According to him, the Umo Eno agenda was not previously discussed with him and he heard it first at that meeting. While making it categorically clear that he was neither against the choice of Eno nor his aspiration, he stated, however, that his aspiration to serve the state in the capacity of governor remained on course. He called on his supporters and those sympathetic to his cause to note that he was as resolute as ever

Eno

Albert

in the desire to give the people purposeful leadership in the office of the governor come 2023.

It should be noted that Eno, Inoyo and Luke hail from the same local government area-Nsit Ubium, one of the three local government areas; including Nsit Ibom and Etinan, which Luke currently represents in the House of Representatives.

The sense of entitlememt displayed by Luke is similar to Bassey. Both men claim they had a gentleman’s agreement with Emmanuel to succeed him. But which of them exactly was this unwritten deal entered with?

In the run-up to Emmanuel’s 2019 re-election bid, the political waters of Akwa Ibom was unusually muddied by the defection of former Governor Godswill Akpabio to the All Progressives Congress (APC). Akpabio had misjudged the political alertness of the people. He thought he possessed the magic wand to sway majority of Akwa Ibomites to his side. It was the resolve of Bassey and Luke to remain in the PDP and throw in their entire network of leaders and supporters that saved the day for Governor Emmanuel and PDP in the state. For this, Emmanuel was reportedly fleeced by the duo of Bassey and Luke. This was a very painful and humbling experience to the governor who played along until the treasured crown was places firmly on his head. By not supporting either Bassey or Luke, Governor Emmanuel, apart from exercising his sovereign choice, could be sending a message to who it may concern on how not

to take advantage of one whose back is against the wall.

With their vaunted notion of self-importance, Bassey and Luke and their supporters believed Emmanuel would remain their victim to exploit at will and forever. The frequent boast in town was that Emmanuel will not be in a position to chose his successor. They painted him as weak and lacking the political machinery to prove himself. It did not matter to his traducers that he had delivered to the Akwa Ibom people on his most important promise to industrialise the state. Ibom Air is one of the leading airlines in the country today. All approvals and initial financing for the Ibom Deep Seaport have been concluded.

The flour mill, syringe factory, metering factory, vehicle assembly plant, coconut plantation and many more are all on showcase as his achievements. The third Ring Road is near completion, flyover bridge, finished roads and bridges in different parts of the state, renovated and better equipped hospitals and massive agric products have helped to create a new image for Akwa Ibom.

The state has become next to Lagos in attracting FDI. Above all, the Emmanuel administration relishes its attainment of zero tolerance for violence and cultism, thereby, promoting peace like a river in the entire state, which is best exemplified by the cordial working relationship between the governor and his deputy, Mr. Moses Ekpo.

His reliance on the Omnipotent to help him surmount seeming impossible odds has never been in doubt. The Akwa Ibom gov-

Many who previously owed allegiance to them quickly switched political loyalty to the MPM structure set-up by the governor. It was the first irrefutable evidence that Emmanuel would indeed influence the emergence of his successor. Carried on the shoulders of That Same God, the Akwa Ibom Governor quietly and steadily started to exert his influence. Having learnt the ropes in politics, he dealt a political master stroke at the PDP National Convention last October in Abuja

Luke

ernor ’s re-election campaign, when many thought he was going to be taken out by formidable foes like Akpabio, Nsima Ekere, Senator John Akpanudoedehe, Mr. Umana Okon Umana and Senator Ita Enang in the opposition APC, was executed with the broad theme, ‘Only God.’ Indeed, only God could have delivered him from that powerful gang-up. For his exit agenda, Emmanuel knows why it is important to acknowledge God in all his ways.

Therefore, his succession agenda is being prosecuted under the banner of, ‘That Same God,’ while the designed political vehicle for that purpose is the Maintain Peace Movement (MPM).

This statewide group led by the immediate past National Legal Adviser of the PDP, Hon. Emmanuel Enoidem quickly dwarfed the long entrenched and self-promoting groups sponsored

by Bassey and Luke. Once MPM came on stream, the camps of Bassey amd Luke became depleted. Many who previously owed allegiance to them quickly switched political loyalty to the MPM structure set-up by the governor.

It was the first irrefutable evidence that Emmanuel would indeed influence the emergence of his successor.

Carried on the shoulders of That Same God, the Akwa Ibom Governor quietly and steadily started to exert his influence. Having learnt the ropes in politics, he dealt a political master stroke at the PDP National Convention last October in Abuja. At an event where it became clear that the PDP governors had a firm grip of the party, Emmanuel opted to have no national officer of the party from Akwa Ibom. This had never happened since the formation of the PDP in 1998. Indeed, Akwa Ibom is one of the states that can have anything from the party for the asking, having remained faithful to it. Apparently, Emmanuel does not want the kind of worries Prince Uche Secondus, for instance, brought upon Governor Nyesom Wike of Rivers State. In a couple of instances, national officers of political parties have been known to cause grave concern to governors of their home states. The way things are today in the PDP, it means that information coming from the national secretariat to Akwa Ibom will not be filtered, altered or delayed, it will go straight to the leader of the party in the state-the governor!

With the MPM firmly established in all nooks amd crannies of Akwa Ibom State and no opposition at the national secretariat, does any still doubt the capacity of Governor Emmanuel to crown his preferred successor?

TUESDAY FEBRUARY 1, 2022 • T H I S D AY

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TUESDAY, ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

INTERVIEW

I'm Taking Difficult Beneficial Decisions to Develop Lagos I Believe Lagosians Will Reelect Me Based on Good Performance Lagos Needs N150bn to Complete Red And Blue Line Railway Lagos State Governor, Mr. Babajide Sanwo-Olu, during an interview on Channels Television’s Sunrise Daily on Friday, speaks on what Lagosians should expect about Red and Blue line rails, Lagos Urban Transport Master Plan, ongoing projects in different parts of the State, security and 2023 Lagos governorship elections, among other issues…

What should we expect and what is the focus for Lagos concerning the Red and Blue line rails?

There have been very deep thoughts through this. There is a strong master plan, which we call the Lagos Urban Transport Master Plan. In that master plan, we figured out that a massive city like Lagos needs to have an efficient transportation system and we are blessed naturally with water in Lagos. We have bus transportation. We are planning to have extensive waterway transportation. And of course, rail transportation. It is only when you can utilise all of the components of transportation that you can efficiently run a megacity like this type. A lot of people usually say that it is only Lagos that doesn’t have metro system or a rail system. I was in government before we started the BRT. It is the same concept on the road. The high-capacity buses are expected to move a lot of people on dedicated corridors so that people can get to their destination quicker. Same with the waterway infrastructure. We are dredging and we are building 17 stations, small terminals as we speak.

We have acquired about 22 ferries; 50-seater, 40-seater and 30-seater to move people around waterways.

These waterways facilities are a bit quicker to fix and we are doing that. But rail line has been the real big one that we are just struggling with.

I dare say that we are about the only sub-national anywhere in the world that is being audacious to build a rail infrastructure by itself. People will say Lagos doesn’t have a rail line; they say we should go and check Ethiopia, Egypt and Senegal. I say to them, those are countries; you are right. In Addis Ababa, it is the country of Ethiopia that is building it. So, Lagos felt we need to have our mark there. While growing up, we missed it at some point; about 30, 40 years ago. So, we have been very audacious in this conversation, and we said let us actually do this.

It was during the Babatunde Raji Fashola government that we started it and I need to give credit to that.

As cabinet members, we said in our lives, we have not even seen the rail being built in Lagos before.

So, let us try and build one. We started in 2008 and 2009. What we know today as the Red Line was the existing alignment that we thought would be an easier path at that time but it was difficult getting Federal Government approval, because those were Federal Government lines. So, we said let us go through a difficult one, which is the Blue Line.

The Blue line is the one that we have on the Lagos-Badagry Express Road. What we said to the Federal Government then was that we are going to rebuild the road from four lanes to 10 lanes and we took a wide alignment to keep a rail track in the middle. So, if you go on that express road; that is why the rail tracks are in the middle. But we took a wide alignment on that and we are building five lanes here, five lanes there. I am about to complete that road now. It is from Orile to Okokomaiko. It has been very difficult, but the contractor is rounding off now and we are also going to hand over that road. On that rail corridor, we have the Blue Line.

We have done the first phase of the Blue Line, which is from Mile 2 to Marina. Our current administration is very lucky because we are starting the Red Line from the scratch. That would be handed over at the end of this year.

The Red Line is the existing rail corridor that uses Lagos-Ibadan alignment, which belongs to the Federal Government. We looked at the composition of the track and checked the need to have a rail track that fits the kind of intra-city train we want. We have a standard gauge. We are building eight stations in all the corridors from Alagbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba and Ebute-Meta, which is the first phase of it. The second phase of it will now get to Iddo and eventually terminate at Marina. It will do lagoon crossing to Marina. So, it is Phase 1 of the Red line project that is the talk of the town now.

We have started and we are going to complete it.

We will also be completing the Blue line. So, what Lagosians are expecting from us would be actively working trains; two rail lines by the third or fourth quarter of the year.

We would have started testing by the fourth quarter. If we don’t bring passengers on, it would be for security reasons. But the train would be on track by the fourth quarter. The terminals and stations would be ready by the fourth quarter and it would probably just be things around communication that we are trying to test. Things around operational training and all sort that we would be trying to test. So, we will probably be doing some test run by the fourth quarter. If we can get people on by the first quarter

Sanwo-Olu of next year, you will see tickets been issued on our rail tracks. This is the transportation master plan for Lagos, where the rail will work, BRT will continue to increase in numbers and the waterways infrastructure would be functioning.

The beauty of it is that, we are trying to have a common system where it would be one card that you can use to access all of these networks. It is the same card that you can use on the bus; the same card you can use on the waterways and the same card you can use on the tracks. There would be backend settling and that is almost happening already now with the Cowry Card being used on the buses that we are also trying to get them to use on the ferries that we have.

What you said is an extensive plan. For a lot of people that have to do business in Lagos, they wonder if it is goodbye to the days of the infamous Lagos traffic…

That is the plan and the vision. How you need to look at it strategically is how efficient are people on the road? How much journey time can we reduce? How do we get our people a little bit more efficient on the road? Time is money and we need to move millions of people from one corridor to the other. So, the vision is to reduce traffic time, reduce gridlocks on the road and be able to do what we call better journey planning, where you can predict journey which can take you 25 minutes or 30 minutes.

The Red and Blue lines are just two of the seven rail lines talking about the master plan.

It definitely will cost some infrastructure and it is going to cost some Lagosians one thing or the other. Is there a plan to get people to own this process, so that it is not just government that is doing?

This is spot on and that is why the government has to continually get the trust of its citizens. Let them know the plan or things you have for them, so that, even in their own planning of life, they also can also plan. For example, if people know that there is going to be a train from Alagbado and they are working in Oyingbo or Yaba and they see for certain that in one year or two years, it is going to happen; you can actually buy a plot of land not far off from the train station, which might be cheaper than having to stay in

a property that is expensive in the city. Once you see that plans of government, you can actually take an investment and say I am going to put up my bungalow just 10 minutes away from the train because I know once Sanwo-Olu gives commitment and the train works, one year down the line, my journey time is just 20 minutes. You can plan. With the government communicating with the citizens and giving them understanding of what our plans are, what our visions for them will be because this is not something that you sleep and wake up, expecting it would be there.

We need to continue to communicate and those are some of the things we are doing.

In the master plan, actually there are about seven rail lines. There is Green Line, Yellow Line, Purple Line and Orange Line. What we are doing now on those ones is extensive feasibility studies and traffic count. For it to make a lot of economic sense, the subsidy would come in at some point in term of the government having a scheme in it. But for it to even make economic sense, you have to do extensive studies and some of those feasibility studies need to take two seasons. You need to do a wet season and dry season. This effort is going on and we have both local and international consultants doing that for us on the remaining four lines. So, we are hoping the report would be ready by the middle of the year, so that we can communicate and say that there are still other rail lines coming that would take an additional two to three years for us to complete.

And these are the areas we are looking at.

Part of the promise you made about this project is that, it is also going to provide employment.

What are the employment opportunities for young people?

It is enormous. You can see what happens in other parts of the world. In fact from next month, we are going to be doing extensive adverts and that is why we need to get all of our young engineers onboard. We will need electrical engineers, mechanical engineers, and people that are going to be trained as platform operators, ticket operators and all sorts of skills that would be required in their hundreds. Train operation is not something that you just keep under your carpet. A lot of jobs will be created directly and indirectly. Indirectly would come

from all of the additional commercial investments along the rail corridors. If you come out of the train stations, you are rushing home and you have only 15 minutes, some sort of commercials activities would come around some of those train stations where you can quickly buy your groceries and you can do your last-minute shopping before you do your last mile to your home. So, we are looking at all of the real estate and commercial activities coming up, which will also come with job creations. These are very massive infrastructure developments that usually happen around a train station. You know the buzz that usually comes out of the train station and all of these things would be around.

Don’t we need to be worried about maintenance of the rail lines?

We need to and that is part of the conversations we had during our trip last week. We went to a city called Istanbul in Turkey. I was very impressed with the level of rail infrastructure there. We looked at a city that has similar demography as Lagos with a huge population. Istanbul is actually the biggest in terms of population, almost 17 to 18 million, in Europe and it has a massive metro infrastructure of over 150 stations.

We met with the leadership team of the metro line.

Lat Thursday, I met with the Turkish Ambassador, just to also ventilate and validate that relationship.

One of the things they have said to us is that, we can have that city relationship where training can occur, because they have a huge training facility where you can send people down to train them. Chinese are also willing to take in a lot of people back to China for trainings. We need to commence the training five or six months before the actual activities start, so that they can know how to maintain some of these assets.

We will also have in-house onboarding skills that will need to come in. We need to quickly ramp up ability and capacity to be able to train our own citizens, so that they can own it because we are going to have massive stabling yards to park the trains and do quick fixes. There will be general maintenance; there will be routine maintenance. So there is a massive training that will happen. We need to train people who are fitters. Those are the kind of soft skills that we need to ramp up and put in a position to fix.

Safety is critical in this. We have seen how people don’t seem to get on with the programme and all

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Lagos Audacious, about Only State Worldwide Single-handedly Building Railway Despite Debt Stock, Lagos Is Nigeria's Most Sustainable State those crossings and not understand how they should conduct themselves around those areas, what are you doing about that?

For an intra-city infrastructure like this, we need to build what we call overpasses. If you go around Lagos now, there is a bit of traffic in some places. I apologise to my citizens. It is because of the kind of infrastructure that the rail requires. A train will move on a grid; it is expensive to put them at an elevated level. It is a lot cheaper when we build overpasses for vehicles. If you go to Oyingbo, where we call Old Yaba Road, we are building a proper vehicular bridge, so that the train can move underneath the bridge. Vehicles and humans will move on top and trains will go underneath. If you go to Yaba, we are building another overpass there, from Tejuoso into Yaba. We are going to complete it before the end of the year so that the train can go underneath. If you go to Mushin, if you are crossing from Mushin-Ojurin to Fadeyi, we are building an overpass. Same in Ikeja and Ayoola Coker in Iju. We are concurrently building five overpasses; these are brand new vehicular bridges so that when the trains are moving, we are not stopping vehicles manually to let the trains pass.

Why this is important is because we are looking at 10 to15 minutes frequency for train movement and we can’t keep stopping vehicles at the same rate. The Federal Government will be executing the overpass at Jibowu axis and the contract has been awarded.

Once we do all of that, issues around safety will be completely eliminated, because the vehicle on top and the trains will be moving underneath. That way, there will not be any conflicts arising from the movement of either the vehicles or trains. But on the Blue Line, there has been a lot of financial pain on us. The rail tracks have to get elevated. It will be a bridge all the way from Orile to Marina on the Blue Line. The train will be moving on top of a bridge all through.

When these trains come onboard, at what cost will they come, not just to the Lagos State Government but also to the people of Lagos? How much do you think it is going to cost to be able to ride in these trains?

As a government, we’ll need to do what we call heavy-lifting. There is no private investor that will come and help you develop your infrastructure. So, the government must carry the burden of building the track, building train stations and all of the communication gadgets that come with it. In some cases, the government also has to be able to deal with rolling stock, just so it can stimulate the private sector to come in. So, what we see as part of our funding is that, we see it as if we are building a road from one part of the city to another. That is why we can make those investments to build train tracks, terminals and ensure that our citizens have that. Those are some things on the balance sheet of the state, which we cannot pass to the citizens.

The kind of things that will be passed on will be the maintenance cost when operations begin. And these include: how long will it really cost to truly maintain a train and its movement to and fro, the staff salary, lightening and such like. Those are the numbers we will require, as we will not need to ask them to do cost recovery on an already constructed infrastructure.

It will not come at anything that will kill the budget.

By the way, these are long term investments; they don’t have a five-year depreciation like a vehicle that you ought to do a cost recovery for over five or six years. A train is set for 30 to 40 years, so you have a longer cost recovery. It is not something you need to be able to kill your citizens for.

Where subsidy can come in is where you have to look and that may be the time of the day when there is a rush hour as seen in every part of the world.

The cost could come at a slight premium, so that if you don’t need to travel at the time when people are truly rushing to get to work or school, you can stay back for an 11am train ride rather than rushing alongside people in-transit for a 7am ride, which is traffic time. Those are some of the fare matrix that can be put into it to make sure that it is accessible and affordable. You know affordability is critical because it is a mass movement that reduces total cost. One car in the train can take up to 150 to 200 people in 15 to 20 minutes maximum. So, people can sit, stand and people can hop in and hop off; so it won’t take so much. We believe that the cost will come down significantly for the citizens. I do not think they will be breaking their bank. I can assure you it will be very affordable and very accessible.

Referring to affordability, how much would you think a ride would cost an average rider during an off-peak period and peak period?

From top of my head, I can say it might not be more than N200 or N250. It probably would not be more than that. I really can’t be exact on the figure, because the fare structure would be where you are joining to where you are alighting. But typically, it will not be more than what you are running on regular BRT lines today. For it to be accessible, affordability is critical, for people to want to make it a better option. A train ride will be quicker; instead of you staying one hour on the road, it is going to take you 20 minutes or 25 minutes with train. Affordability is critical and I can assure you that certainly, it cannot

see what our Internally Generated Revenues (IGRs) are on a monthly basis.

To answer the question, we are doing a combination of a lot of things. We are pushing on our IGR, our ability to raise revenue internally and we are also talking to our lenders and the beauty of the kind of the lending model is that, we are looking at local borrowing at single digit for 10 to15 years. So, if you are looking at borrowing for infrastructure that will last you 20 to 30 years and you are doing a complete match in terms of 10 to 15 years of borrowing at single-digit, talking of eight or nine per cent, it is incredible and you cannot miss it. Failure to do that and to take the difficult decision now, inflation will catch up with you one year down the line; a road that you are supposed to build today at N1billion in one year turns to N3billion. So you need to take that hard decision now, lock it in and make sure that you do not have a variation on any of those numbers and keep it straight with the contractor.

Do you have an idea of the numbers for the rail infrastructure?

For the rail infrastructure, we are borrowing and that is why we are excited that we will complete it because we have all the financing to get to the end of it. In terms of what we are looking at, we are looking at N150 billion to be able to complete both the Red Line and the Blue Line. That is like the kind of bucket number we have been able to raise from the debt market.

Sanwo-Olu be in thousands, like saying you are going to use N5,000 on a train journey. It will still be in your regular N200, N300 journey and that is the kind of numbers we are looking at. If our operators say it is more expensive to operate, we can do a financing mind trick and give them a longer tenure time to defray cost but keep it affordable for our citizens because it is for them and all about them.

Let’s take on Badagry. What exactly is the state of the road between Mile 2 and Badagry, which, we understand, has been in the state of disrepair? What exactly is its current state and what are the plans for that part of the road?

As I did mention, we are doing a 10-lane highway on that corridor. We are completing the stretch to Okokomaiko before the end of the second quarter this year, which is a rigid pavement with four bridges that cross Alakija, Trade Fair, LASU Junction and an overpass which people can use to get to the other side. The stretch from Mile 2 to Okokomaiko will be completed fully; that is about 18 kilometre to 20 kilometre. The Federal Government is working with a construction company to fix the stretch from Okokomaiko to Agbara and there is on-site activity on that part as we speak. Once we get to Agbara to Badagry, as soon as the Federal Government is done with the construction, it is a smooth road. The only part remaining is from Okokomaiko to Agbara which the Federal Government is handling. The entire Badagry stretch is a Federal Government road; it is part of the West African International corridor. We took an audacious position several years ago to rebuild that road and we took it from a four-lane and we have developed it to a 10-lane highway. We have an incredible and remarkable work on that road.

There are other things we are doing for Badagry.

Our citizens in that part need to know that I am building three jetties in Badagry to fully utilise the waterways from there to other parts of Lagos. Two of the jetties have been completed and people have started using them. The third one, which we called the Badagry-Marina, will also be completed very soon. So we have 3 jetties already in Badagry, meaning that you can move from a place like Ikoyi-Falomo and Liverpool in Apapa and straight to Badagry in about 20 to 25min. So, you don’t have to come in on the express road. We have created that alternative for people. I have moved from Ikoyi straight to Badagry before in 35minutes. You saw what Nigerian Green Eagles did last year when they move through waterways to Benin Republic. So, it is the same kind of thing that we are talking about and it is safe and secure. Those are the kind of alternatives that we are providing.

Your residents in Ikorodu are raising concerns on ongoing projects, such as Oba Sekumade Road leading to Ogolonto, the Igbogbo-Baiyeku Road and the one that leads to Old Shagamu, Agric-Isawo…

We are doing several projects in Ikorodu and you just mentioned some of them. Oba Sekumade

Road is around 80 to 90 per cent completed; it is a rigid pavement. The thickness of the concrete is higher. We are building massive drainage on that corridor, because the road usually gets flooded. The drainage part is completed and we are going to be commissioning the road by the second quarter of this year. Agric-Isawo Road is a knotty one; it is a long stretch of road that goes all the way towards Lagos-Ibadan Expressway.

One of the things we did not do very well, was that we took a wider right-of-way. Meaning that we are trying to build three-three lanes on either sides, whereas we need only two-two lanes. The contractor is back on track there; the road has been stabilised. My fear is that, they need to ensure that they quickly put asphalt on it before the rain comes on. It is only on Agric-Isawo Road that I get called out. We are going to complete it as well.

At Igbogbo-Baiyeku Road, a similar contractor is also on it and we are also assuring them that these are projects that are of great concern to us.

We have done Ijede Road; we have completed and handed it over. We have done the one going to Gberigbe and we have handed that one over too. Ikorodu is such a massive sub-urban area with tiny road. We are just opening up and we are making things available there. In Ikorodu as well, we have three jetties that we have built for them to give them alternatives of moving by the waterways from Ipakodo Jetty to Ibeshe Jetty. People can also come in from other parts of the city, using the waterways infrastructure that we have. So, I can assure my Ikorodu citizens that they know we are on-site, they know our contractors are working, we just have to push them a bit more so that they can complete the Agric-Isawo Road.

On the road towards Shagamu, we are doing reconstruction at a place called Ita-Elewa, which has a knotty roundabout. People will tell you that we have removed the roundabout; we are doing a complete traffic reconstruction on that road. The road from that place to Shagamu is a Federal road, and I understand that it’s been awarded. What we are doing is palliative on the road to get commuters to the Polytechnic area.

Debt stock of Lagos, since 2015, has more than doubled. In terms of cost, how is the government financing these capital projects? Is it out of pocket or borrowing?

You cannot eat an omelette without breaking the egg. That is a difficult and well-thought-out decision I had to take. I have extensive experience in finance and banking and I know how some of these things are. I also know what the GDP of Lagos is and I know the GDP to debt stock is in terms of sustainability; it is the ability to be able to meet your obligation. It is true that our debt is higher compared to where we were about six to seven years ago, but the truth is that we are still the most sustainable state. Sustainable in terms of what our numbers are. We were meant to be having like a 40 per cent sustainable ratio, we are still doing 21 to 22 per cent. We still have a lot of room in terms of sustainability. You can

What is the update on the proposed Fourth Mainland Bridge?

That is also an interesting one; that is one of the legacies that we are also going to be leaving before the end of our four-year tenure. Where we are is that, we have paid the final bid for the consulting. We are doing a Public Private Partnership (PPP) model with the Fourth Mainland Bridge, and we have gotten concessionaires. We are at the last stage now. We started with 35 companies, showing interest in building the bridge. We have reduced that to three now. So, with the final three now, we are at the final of the big process to be able to identify the concessionaires. The Fourth Mainland Bridge is a 37-kilometre ring-road from Lekki-Ajah axis, crossing the water, going all the way behind Ikorodu, and eventually terminating on Lagos-Ibadan Expressway. It is like an M25 out of London. It is massive and huge. We believe that with that construction, a lot of intermodal movement will happen very quickly in Lagos.

We believe that we will identify a concessionaire and do groundbreaking before the end of the second quarter.

I believe that we will identify the concessionaire before the end of the first quarter and do the groundbreaking before the middle of this year. Once the groundbreaking is done, then we can begin to see the development. It will probably take two to three years or thereabouts for the construction.

Big cities deal with security issues, traffic robbery and so on. What is the thinking about ensuring these kinds of challenges don’t pop up any further?

That is why we are building what we call the Smart City component. In our Smart City infrastructure, we are trying to escalate CCTVs. When people know there is a high chance that they get caught or there is a back-end solution where you can review what had happened, people will know that they need to desist from doing such. So, what we are doing is that we are trying to ensure that once we build the fiber infrastructure, we will have CCTV. We are going to 2,000 but we have deployed like 250 right now and it is majorly for traffic management and the kind of the things you mentioned now, where we can give the information to the Nigerian Police for them to track on.

You campaigned for former Lagos State Governor, Asiwaju Bola Tinubu yesterday, what about yourself?

What is happening to your second term?

As we speak, we have done two-thirds of our time; it is about 66.7 per cent, as we count it every day.

The field is not opened yet, the race has not been declared opened but for me, it is about ensuring that these four years I have promised my citizens, I put every bit of my sweat into it.

Are you going to vie for a second term?

I will let the citizens speak. I will ask and consult.

I will ask them what they think about it. Those are some of the things and that is how you get it done.

Keep your focus on it, try and finish very strong.

When it is time for us to do all the politicking, we will do it. It is available for you. The constitution says you can do a second term.

What are the chances?

I think the citizens will do and I think we are doing a very good job. I dare to say so. I think the citizens know what they will be missing if they don’t let us continue and ramp up all of the things we are doing.

That sounds like one good term deserves another Well, then, you can say that.

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L-R: DR TUNDE AJIBADE, SAN; HON. JUSTICE JOHN INYANG OKORO, JSC (REPRESENTING THE CJN); CHAIRMAN, HOUSE OF REPRESENTATIVES COMMITTEE ON THE JUDICIARY, HON. ONOFIOK LUKE; HON. JUSTICE AMINA ADAMU-AUGIE, JSC; VICE-PRESIDENT, PROF YEMI OSINBAJO, SAN; NBA PRESIDENT, OLUMIDE AKPATA; HON. ATTORNEY-GENERAL OF THE FEDERATION, ABUBAKAR MALAMI, SAN, AND FORMER NBA PRESIDENT, DR OLISA AGBAKOBA, SAN

NBA Pushes Justice Sector Reform to the Front Burner

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IN THIS EDITION

Effect of Failure to Plead NonCompliance with Condition Precedent in Defence Page IV

QUOTABLES ‘The House and the Senate have decided to add the Consensus provision, so that there will be no need for Conference; but, with certain provisos…..to protect all aspirants for all positions, so that we will all have an even playing field.’ - Rt. Honourable Olufemi Gbajabiamila, Speaker, House of Representatives, 9th National Assembly, Federal Republic of Nigeria

‘If a Federal Officer commits murder in Lagos, he will be charged before the Lagos High Court. The Federal High Court has no jurisdiction. The Federal AttorneyGeneral cannot prosecute him, because it is a State Offence.’ -Femi Falana, SAN, Human Rights Lawyer; Recipient of the Bernard Simmons Award of the International Bar Association

Unilag Law Faculty Alumni to Host "The Great Homecoming" Page V

Agbakoba Urges Lawyers to Embrace ICT to Meet Future Challenges Page V

LAWYER

ONIKEPO BRAITHWAITE: EDITOR, JUDE IGBANOI: DEPUTY EDITOR, PETER TAIWO, STEVE AYA: REPORTERS

III THE ADVOCATE

T H I S D AY • TUESDAY, FEBRUARY 1, 2022

In Sokoto, BUA Becomes ‘Functus Officio’ Definition of Functus Officio and the General Rule hen does a court becomes ‘functus officio’ in a matter before it? In Mohammed v Husseini 1998 14 N.W.L.R. Part 584 Page 108 at 163-164, the Supreme Court held that “the Latin expression ‘functus officio’ simply means “task performed”. Simply speaking, when a Judge delivers a judgement on its merits, that is, having determined the legal rights of the litigants, he/she has performed his/ her task and becomes functus officio in such a case. See the case of John Andy Sons and Co. Ltd v N.C.R.I. 1997 3 N.W.L.R. Part 491 Page 1; U.T.C. (Nig.) Ltd v Pamotei 1989 2 N.W.L.R. Part 103 Page 244. The trial Judge cannot change such a decision once it is made, or delve back into case. He/she lacks the jurisdiction to do so, as he/she has become functus officio, and can only make ancillary orders, for example, an order for the enforcement or stay of execution of the judgement, or order for the award of costs.

See the case of Nnajiofor v Ukonu 1985 2 N.W.L.R. Part 9 Page 686. In such a situation, any party that is dissatisfied with the judgement, may appeal against the decision complained of.

Similarly, where there is a motion before a court in the course of a trial, that is, an application for an interlocutory order to be made by the court during the trial, maybe for an injunction to preserve the ‘res’, that is, the subject-matter of the suit so that it is not dissipated before the trial reaches its conclusion and the judgement is then rendered nugatory (of no value), and the court makes an order/gives a ruling; again, the trial Judge becomes functus officio, and the proper step for a dissatisfied litigant to take, is to appeal the ruling (interlocutory appeal). A Judge being functus officio means that he/she is not allowed to hand down any other decision on the same case - hand down a decision more than once, nor can he/she make a ruling on the same issue more than once. Oboroh v Oghuvwu 2000 3 N.W.L.R. Part 647 Page 120 at 127-128.

Though a ruling or order may not necessarily be the final judgement of a court, they are all decisions of a court. See the case of Contract Resources (Nig.) Ltd v S.T.B. Ltd 2013 6 N.W.L.R. Part 1350 Page 260 at 271 per Ogunbiyi JSC.

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Exceptions to the General Rule The aforementioned position is the general rule, to which there are some exceptions.

When the judgement is a default judgement, the Judge can set aside his/her decision. A default judgement is one in which the decision is handed down not on its merits, but as a result of the failure to follow the rules of procedure. For instance, judgement in default of appearance or defence (no memorandum of appearance or statement of defence is filed). A default judgement differs from a judgement on its merits, in that there is no argument, investigation and evidence, the legal rights of the parties are not determined; the judgement is handed down without trial based on “some preliminary or formal or merely technical point or by default….”.

See the case of Udoh v Asuquo 2006 9 N.W.L.R. Part 985 Page 299 at 315. In Okokhue v Obadan 1989 5 N.W.L.R. Part 120 Page 185 at 204 Ogundare JCA (as he then was) stated thus: “A judgement is not given on the merits, when it is founded on some technical rule of procedure”; N.U.B. Ltd v Samba Pet. Co. Ltd 2006 12 N.W.L.R. Part 993 Page 98 at 126 per Rhodes-Vivour JCA (as he then was).

For example, the judgement that was set aside in the GTB v Innoson Supreme Court case which I mentioned last week, was a default judgement; one given because the Apex Court was misled to believe that a technical rule of procedure, that

Groundbreaking for Line 5 (Sokoto) by the President of the Federal Republic of Nigeria, His Excellency, Muhammadu Buhari GCFR. This is because there is a complaint that many of us who enjoy the readership of the public, focus a great deal on negative occurrences in the country, instead of promoting Nigeria by highlighting positive and progressive events.

To say that the BUA Factory is impressive, is an understatement.

BUA Group employs about 15,000 people directly and indirectly, in total.

The cement side of the conglomerate employs about 5,000 Nigerians in its different cement facilities around the country, and almost half that number in Sokoto particularly. By the time BUA Cement Sokoto Line 5 and Edo Line 3 are completed in 2023, BUA will increase its staff strength significantly. This does not even touch upon the uncountable affiliated jobs that are being created particularly in Sokoto, because of this massive investment by BUA. This is besides BUA’s investments in technology and cleaner energy, using LNG at the cement factories that take environmental sustainability and operational efficiency into account. Kudos to Alhaji Abdul Samad Rabiu CON, the Founder and Chairman/CEO of BUA Group, who has shown his belief in the developBUA Commissioning, Sokoto ment and success of our motherland, I cannot but mention my first visit to by investing heavily here in Nigeria. the ancient city of Sokoto last Thursday; for the official commissioning of the ASR and BUA Foundation new BUA 3 million Metric Tonnes Per Though BUA is a commercial concern Annum Line 4 Cement Plant, and the with the purpose of making profit (which

is the goal of all business concerns), apart from not engaging in capital flight like so many others, it has not only created jobs for our people and put Nigeria on the map in terms of industrialisation, Alhaji Rabiu through his Foundations, the Abdul Samad Rabiu Africa Initiative (ASR), endowed with $100 Million annually

by Alhaji Rabiu, and BUA Foundation, has provided succour to States across the nation by donating generously towards their healthcare, social development and educational systems, and to Nigerians all over the country, particularly at the height of the Covid-19 Pandemic in 2020. Nigeria would be a much better country, if more of our captains of industry give back to society like BUA, and not just take from it.

So far, in the eight months of its operations, the annual $100 million Africa Fund for Social Development and Renewal of ASR, has already committed over N35 billion in grants to various healthcare, development, and educational projects through initiatives such as the recently completed 150-bed N4 billion Police National Reference Hospital in Abuja; an Oncology and Diagnostic Centre in Kwara; N5 billion Teaching Hospital in Akwa Ibom; a Mother and Child hospital in Ogun State; expansion of the Stella Obasanjo Specialist Hospital in Edo; construction of Schools of Nursing Science, Medical Science and Health Technology in Sokoto, as well as education infrastructure grants of N1 billion each to six premier Universities across Nigeria. Many of these projects have already commenced, and the annual $100 million grant is set to be renewed for another year, at the end of the current cycle. All these are in addition to BUA Foundation’s contributions of over N25 billion in cash, health infrastructure, foodstuff and equipment during the Covid-19 Pandemic in Nigeria, ranging from over 66 ambulances given to 19 States, and other initiatives including N1.35 billion to the CACOVID private sector coalition, comprehensive feeding programmes for 1.5 million people, 1 million face masks, PPEs and cash sums to at least nine States and the Presidential task force on Covid-19, at the climax of the Pandemic.

Well done BUA Group. Congratulations Alhaji Abdul Samad Rabiu aka ‘Alhaji BUA’ on these laudable milestones.

Indeed, BUA has performed its task in Sokoto, commendably too, and has become functus officio after making a sound decision to invest, bring more development to Sokoto and Nigeria generally; and boost our nation’s economy. This decision is not a default judgement, but one based on the merits; there is no reason for this judgement to be set aside, nor should it go on appeal, or for review; unless it is of course, for ancillary orders to expand the Facility further to Line 6 and beyond, should the need arise.

Newly Commissioned BUA Cement Sokoto Line 4

Alhaji Abdul Samad Rabiu CON

ONIKEPO BRAITHWAITE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com Twitter: @TheAdvocate

The

Advocate "Indeed BUA has performed its task in Sokoto, commendably too, and has become functus officio after making a sound decision to invest, bring more development to Sokoto and Nigeria generally, and boost our nation's economy" is, the of filing the Appellant’s brief of argument, was not followed in accordance with Order 6 Rule 5(1)(a) of the Supreme Court Rules, which provides that an Appellant shall file and serve on the Respondent his/her brief of argument within ten weeks of the receipt of the Record of Appeal.

This provision is mandatory. When their Lordships discovered that the said court process was on file, they set aside their previous decision.

When a judgement is obtained by misleading the court (as in the GTB case)(be it a default judgement or one delivered on its merits), or the judgement is a nullity ab initio, or was obtained by fraud, the Judge can subsequently set it aside, and will not be functus officio in these circumstances. See Mohammed v Husseini (Supra). In Olufunmise v Falana 1990 3 N.W.L.R. Part 136 Page 1 at 10 per Obaseki JSC (Acting CJN) the court held that “a judgement obtained by fraud can be set aside on an action being brought afterwards”.

However, proof that the judgement was secured by the fraud of one of the parties to the action, who would not have secured judgement but for the fraud, must be presented for such an action to set aside the judgement, to succeed.

IV LAW REPORT

TUESDAY, FEBRUARY 1, 2022 • T H I S D AY

Effect of Failure to Plead Non-Compliance with Condition Precedent in Defence pellants responded to the submissions in the 1st Respondent’s Brief. He argued that failure to exhaust the procedure under the Armed Forces Act before filing the suit, robs the court of jurisdiction to determine the case, given that where the law has provided a special procedure for seeking a remedy before resorting to court, failure to adhere to that procedure goes to the jurisdiction of the court to entertain the action – ABUBAKAR v INEC (2012) 12 NWLR (Pt. 1737) 37. Further, contrary to the submission of the 1st Respondent, he actually testified that he did not apply for re-engagement after 18 years and 22 years as statutorily required of him under Section 30(3) of the Armed Forces Act. Counsel submitted that the latitude granted the trial court under Sections 7(6) and 12(2) of the National Industrial Court Act and Order 5 rule 6(2) of the National Industrial Court Rules, cannot avail the court to find for a party who failed to establish his case before the court.

Facts The 1st Respondent was a commissioned officer with the Nigerian Army. He joined the Army in September 1994, and remained in service till 9th June, 2016 when he was compulsorily retired from the Nigerian Army on disciplinary grounds. Upon receiving the letter retirement from the Nigerian Army, the 1st Respondent wrote a letter dated 22nd June, 2016 addressed to the President, Commander-in-Chief of the Armed Forces of Nigeria, through the Chief of Defence Staff, seeking redress against his wrongful retirement from the Nigerian Army.

When the case remained unresolved, the 1st Respondent approached the National Industrial Court, Abuja, seeking inter alia, a Declaratory Order that his purported compulsory retirement from the services of the Nigerian Army constitutes an unfair, invalid and wrongful dismissal in contravention of the provisions of the Armed Forces of Nigeria Harmonised Terms and Conditions of Service for Officers, 2012. He sought an order of court setting aside the purported letter of compulsory retirement, as well as an order directing his reinstatement to his statutory protected employment, with all his rights and entitlements.

The Appellants, as Defendants at the lower court, denied the assertions and claim vide their joint Statement of Defence. The parties called witnesses, and tendered exhibits in proof of their case. In a reserved judgement, the trial court found for the 1st Respondent, which decision informed the appeal by the Appellants to the Court of Appeal.

In the Court of Appeal of Nigeria In the Abuja Judicial Division Holden at Abuja On Friday, the 31st Day of December, 2021 Before Their Lordships

Stephen Jonah Adah E.O. Williams-Dawodu Danlami Z. Senchi Justices, Court of Appeal

Issues for Determination From the eleven grounds of appeal filed, counsel for the Appellants distilled two issues for determination of court. The 1st Respondent adopted the issues as distilled by the Appellants, thus: 1. Whether the 1st Respondent had complied with the condition precedent required of him, before inviting the trial court to exercise its jurisdiction to hear and determine this case.

2. Whether the findings and judgement of the trial court in favour of the 1st Respondent was not a perversity.

Arguments Arguing the issues, counsel for the Appellants submitted that one of the determinants of the jurisdiction of the trial court to determine a case, is that there must be compliance with due process of law in commencement of the suit. He relied on MADUKOLU v NKEMDILIM (1962) 1 NLR 587. Counsel contended that by the provisions of the Armed Forces Act, before the 1st Respondent can ignite the jurisdiction of the trial court in challenging any decision against him by the relevant authorities, he is obliged to exhaust the internal administrative remedy made available to him, in compliance with the mandatory requirement of Section 178(1), (2) and (3) of the Armed Forces Act, Cap. A20, Laws of the Federation of Nigeria, 2004.

He posited that non-compliance with, or departure from the procedure is fatal to the 1st Respondent’s claim for enforcement of the remedy as such non-compliance renders the action a nullity – NIGERIAN ARMY v AMINU KANO (2010) 5 NWLR (Pt. 1188) 460. Regarding the second issue, counsel

Appeal No. CA/A/299/2019 Between 1.

2.

3.

4.

5.

6.

7.

8.

Nigerian Army Nigerian Army Staff Chief of Army Staff Armed Forces Council Chief of Defence Staff Brig. Gen. Mansur Dan-Ali (Rtd.) Lt. Gen. Tukur Yusuf Maj. Gen. Mohammed Hong Garba

Appellants And

1.

2.

Col. Danladi Ribah Hassan (Rtd.) Attorney-General of the Federation

Respondents

(Lead Judgement delivered by Honourable Stephen Jonah Adah, JCA)

submitted that all the findings of the trial court were perverse in that they were neither borne out of the pleadings of the 1st Respondent, nor supported by evidence before the court.

Responding to the submissions above, counsel argued on behalf of the 1st Respondent that Section 178(1) of the Armed Forces Act employed the word

“…. the issue is a question of law which is required to be pleaded by the Defendant, for the court to countenance same…. there is nowhere in the pleading of the Appellants at the court below, where this….was pleaded. The trial court was not competent to look at the issue, and the Court of Appeal lacked the jurisdiction to entertain an issue emanating therefrom……without the leave of court”

“May”, which going by the general principle of interpretation of statute, connotes permissive action, though mandatory or compulsory action in exceptional circumstances – OLOMODA v MUSTAPHA (2019) 6 NWLR (Pt. 1667) 38 at 52. He submitted that, the administrative requirement before commencement of the suit was complied with.

Counsel referred the court to the evidence of 1st Respondent, to the effect that his efforts at ensuring that his requests to the appropriate authority by way of an appeal to the President of the Federal Republic of Nigeria was attended to, was stultified by the Appellants. And that this evidence remained unchallenged by the Appellants, at the trial court. He referred to the case of UZODINMA v IHEDIOHA (2020) 5 NWLR (Pt. 1718) 529, on the position of law regarding unchallenged evidence.

With respect to the submission on perversity of the decision of the trial court, counsel submitted that there is no magic in the word “perversity”; such allegation must be established, and the Appellants failed to supply the necessary facts to show the judgement was perverse.

In the Reply Brief, counsel for the Ap-

Court’s Judgement and Rationale Deciding the issue of failure of the 1st Respondent to fulfil the condition precedent and compliance with procedure under Section 178 of the Armed Forces Act, before filing the action, the appellate court held that the issue is a question of law which is required to be pleaded by the Defendant, for the court to countenance same. Referring to the decision of the Apex Court in SULGRAVE HOLDINGS INC. LTD v FGN (2012) 17 NWLR (Pt. 1329) 17, the Court of Appeal held that, there is nowhere in the pleading of the Appellants at the court below, where this (failure to exhaust administrative remedy before approaching the court) was pleaded.

So, the lower court could not have taken up the matter from a counsel’s address and foist it on its proceedings, since it did not form part of the case of parties. The trial court was not competent to look at the issue, and the Court of Appeal lacked the jurisdiction to entertain an issue emanating therefrom. The Appellants cannot raise the issue on appeal, without the leave of court.

More so, the 1st Respondent showed that he followed laid down procedure, by writing a letter of complaint/protest to the President and Commander-in-Chief of the Armed Forces of Nigeria, through the Chief of Defence Staff. By the letter, the 1st Respondent made his appeal, stating that his compulsory retirement was said to be pursuant to Paragraph 0.9.02C (04) of the Harmonised Terms and Conditions of Service for Nigerian Army Officers, 2012 (Revised), and that the reason cited in the letter was – “on disciplinary grounds, i.e., serious offences”; but, he did not commit any offence as he had neither been charged, nor court-martialled for any offence. He, therefore, prayed the President to reconsider the compulsory retirement. Since the retirement was carried out under the Armed Forces Harmonised Terms and Conditions of Service for Officers 2012, the 1st Respondent was right to have acted further to that instrument, to take the administrative step of reversing the retirement before approaching the court. Thus, the Appellants failed to establish their claim, as the 1st Respondent took the necessary steps of the pre-condition before going to court.

Regarding the issue of the decision at the trial court being perverse, the Court of Appeal held that where findings of the trial court are evidently borne out of credible evidence, the decision cannot be tampered with by an appellate court, unless same is shown to be perverse. The Appellants herein, failed to establish that the decision of the trial court was indeed, perverse.

Appeal Dismissed.

Representation A.A. Machika Esq. with Onoja Esq. for the Appellants.

Samuel O. Zibiri, SAN with M. Isokpechi Esq. for the 1st Respondent.

Samuel Akpan Gabriel, Esq. (SSC) with O.D. Okoronkwo Esq. (SC) for the 2nd Respondent.

Reported by Optimum Publishers Limited, Publishers of the Nigerian Monthly Law Reports (NMLR)(An affiliate of Babalakin & Co.)

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T H I S D AY • TUESDAY, FEBRUARY 1, 2022

NEWS

L-R: Head of Public Sector Practice Group, OAL, Mr Collins Okeke; Managing Partner, OAL, Mrs Yvonne Ezekiel; Senior Partner, OAL, Dr Olisa Agbakoba SAN; Partner/Head of Litigation, Mr Babatunde Ogungbamila

Unilag Law Faculty Alumni to Host "The Great Homecoming"

Stories Steve Aya

The University of Lagos Faculties of Law and the Alumni Relations Committee will be hosting an event called, "the Great Homecoming" from the February 7 to 12, 2023.

The Chairman of the Faculty of Law Alumni Relations Committee, Professor Taiwo Osipitan, SAN, disclosed this on Friday at a press conference organised by the Faculty.

According to the him, the Faculty was one of the first Faculties when the University of Lagos was established in 1962, and it has over the years, produced some of the best Lawyers and legal minds in the country. This year, the University and the Faculty will roll out the red carpet, to celebrate the University’s diamond jubilee anniversary.

"Our Alumni have continued to give a good account of themselves in ivory towers, on the Bench and Bar, in the corporate world, politics and public service", he added.

The event according to the distinguished Professor, is to provide a platform for bonding amongst past and present Students, as well as past and present Lecturers of the Faculty.

The event will be attended by past Alumni of the Faculty and Vice President of Nigeria, Prof Yemi Osinbajo, SAN, Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, Hon. Justice Kudirat Kekere-Ekun JSC, Hon. Justice Bode RhodesVivour JSC (Rtd), Chief Wole Olanipekun, SAN, Odein Ajumogobia, SAN, Kanu Agabi, SAN, Otunba Adeniyi Adebayo CON, and Prof Amos Utama, SAN, among others litany of distinguished guests.

Activities during the week long event includes a colloquium with Professor Fidelis Oditah QC, SAN as the Keynote Speaker , as well as lecture to current students to be delivered by distinguished members of the Alumni.

Also speaking is the Dean of the Faculty of Law,

Professor Boledeoku, who expressed his joy of being the Chief Host

of the event. "As far as I know, such an event is the first in any Nigerian

University."

Mrs Funke Agbor, SAN, who also spoke, said that

the University of Lagos Faculty of Law is the first, and has no equal.

Agbakoba Urges Lawyers to Embrace ICT to Meet Future Challenges The Management of Olisa Agbakogba Legal, has stated that it has repositioned itself to serve both its present and future clients better.

Speaking to a group of senior Judiciary correspondents in a chat, the senior

Partner of the firm, Dr Olisa Agbakogba, SAN, said that with the coming of ICT, digital technology seems to be the order of the day, and firms have to evolve in order to meet up with present and future challenges.

Other Partners who spoke at the media chat include the Managing Partner, Mrs Yvonne Ezekiel, Mr Collins Okeke, Mr Babatunde Ogungbamila, who spoke on the dispute resolution, maintained that no business

man will be happy to see his money trapped in a dispute.

Osita Okoro and Beverley Onyejianya both spoke on their work on Public Policy Management, and the various developments in the Sports and Entertainment world.

Ikeja Sexual Offences Court Sentences Sexual Offender to Life Imprisonment A sexual Offender, Sunday Oyedele, has been sentenced to life imprisonment by Justice Abiola Soladoye of an Ikeja Domestic Violence and Sexual Offences Court.

The Judge describe Sundway Oyedele as a "sexual monster", who for defiling a three-year-old neighbour (name withheld), must not be let free. ln convicting Oyedele of the one-count charge of defilement, Justice Soladoye

said that the Prosecution had proved its case beyond reasonable doubt.

"The defilement saga is unfortunate, the Defendant is a sexual monster, a pedophile who should be locked away.

"The charge against the Defendant has been proven beyond reasonable doubt.

"The defendant having been found guilty, is sentenced to life imprisonment with no option of fine.

"He is also to have his name

registered in the Sex Offenders Register as maintained by the Lagos State Government", Soladoye said.

According to the Prosecution team; Mr Olusola Soneye, Mrs Arinola Momoh-Ayokanbi and Mrs Olufunke Adegoke, the Defendant committed the offence in November 2017.

The convict who was arraigned on April 29, 2019, allegedly had unlawful sexual intercourse with the toddler at Itamaga area of Ikorodu,

Lagos.

During the trial four witnesses including Dr Oyedeji Alagbe, a Medical Doctor from the Mirabel Centre (a Sexual Assault Referral Centre), testified for the prosecution.

Dr Alagbe, in his evidence, said that medical examinations revealed that the minor was defiled both anally and vaginally.

Oyedelewho testified solely in his defence, was led by his counsel was Mr Kelechi Obi.

Coroner’s Inquest: ‘All Victims Died Before Help Came’, LASEMA DG All evidence points to the fact that all victims of the collapsed building, had died before the rescue operation began. This was part of the submission of the Director General/Chief Executive Officer of the Lagos State Emergency Management Agency LASEMA, Dr. Oluwafemi Damilola Oke-Osayintolu at the Coroner’s Inquest into the collapsed building on Gerrard Road, Ikoyi, Lagos, at Ikeja court premises on Thursday, January 27, 2022.

At the proceeding, Dr. Oluwafemi Damilola Oke-Osayintolu, who gave a vivid account of how the rescue operations was

carried out by Responders, said that none of the victims of the collapsed building died during the rescue operations, but evidence showed that they were all dead before the rescue operations commenced.

It would be recalled that a 21-storey high-rise building located at Gerrard Road, Ikoyi, Lagos collapsed on the November 1, 2021, killing 42 people.

While being led in his evidence-in-chief by the Lagos State Building Control Agency, LASBCA, A.S Odugbemi at the Coroner’s Inquest presided over

by Chief Magistrate Oyetade

Alexander Komolafe, the LASEMA MD, explained that the rescue operation was carried out by both professionals and non-professionals alike, assisted by their equipment which is up to the standard used world wide.

He said the Agency was confronted with what he described as, a classical national emergency. He noted that the rescue team he directed and gave instructions to as the Incident Commander mandated by the Governor of Lagos State, Mr Babajide Olusola SanwoOlu, moved into the incident area following a primary

assessment, partitioning the ‘building’ into Quadrums 1 to 4, and employing Heavy and Life Duty equipment.

He also said the use of drone and Delsa equipment for detection of life, enabled both primary and secondary emergency Responders to determine that there was no life in the debris before work commenced.

Responding to a question by Mr Ola Adeosun representing Prowess Engineering Ltd, whether the Agency in the course of the rescue operation led to the death of some persons underground, the

LASEMA Boss responded thus: “My Lord, with my medical background, I have attended to a lot of emergencies within State and Federal, I would say no”.

Speaking about what he called theatre field or the emergency field, Dr OkeOsayintolu said, “Where we put the excavator is the first quadrum. We use the Delsa to detect if there is somebody that is alive, and I said this type of collapse building, it’s unique itself”.

“When it pile on one another there won’t be air going in, it will compress the victim and the way our response

was operated we divided the place into quadrums.

“We used a Delsa and drone, I can say that that the probability is close to zero.”

Continuing the crossexamination, Mr Adeosun asked, “Are you telling this court that before moving your equipment, you must have confirmed that there is no person alive?

The witness replied during the proceeding,“100 per cent yes, My Lord”, he insisted.

“Thee was nobody that died in the course of our intervention, to the best of my knowledge.”

#upjudicialsalaries 'We need to significantly improve the remuneration of Judges and Magistrates. Ther's no reason why the salaries of Judges, cannot be benchmarked against that of Senators and Members of House of Representatives.' -Professor Yemi Osinbajo GCON, SAN, Professor of Law, Vice President, Federal Republic of Nigeria

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TUESDAY, FEBRUARY 1, 2022 • T H I S D AY

COVER

L-R: Dr Tunde Ajibade, SAN; Hon. Justice John Inyang Okoro, JSC (representing the CJN); Chairman, House of Representatives Committee on the Judiciary, Hon. Onofiok Luke; Hon. Justice Amina AdamuAugie, JSC; Vice-President, Prof Yemi Osinbajo, SAN; NBA President, Olumide Akpata; Hon. Attorney-General of the Federation, Abubakar Malami, SAN, and Former NBA President, Dr Olisa Agbakoba, SAN

NBA Pushes Justice Sector Reform to the Front Burner Last week was a very busy one for the Nigerian Bar Association (NBA), as it held its Justice Sector Reform Summit at the Shehu Musa Yar’Adua Centre in the Nation’s Capital. The retinue of activities included special working sessions with Bar leaders, Lawyers, Judges and other stakeholders. The NBA President, Olumide Akpata and the Speaker of the House of Representatives, Olufemi Gbajabiamila, also signed a Memorandum of Understanding on behalf of the NBA and the House of Representatives. The two-day programme, culminated in the inauguration of the Electoral Committee of the NBA for its upcoming 2022 elections. Onikepo Braithwaite and Jude Igbanoi who attended the event in Abuja, report NBA Will engage in the Process of Judicial Appointments BA President, Olumide Akpata, has urged stakeholders in the judicial sector to commit to herding constitutional and institutional reforms. Akpata pointed out that the decay in the nation’s justice sector, was the major reason for the Summit.

He said this at 2022 Justice Sector Summit tagged: ‘Devising Practical Solutions Towards Improved Performance, Enhanced Accountability and Independence in the Justice Sector’, organised by the NBA in collaboration with the Justice Research Institute, the Konrad Adenauer Foundation, the United Nations Office on Drugs and Crime, and the Justice Reform Project.

In his opening remarks, Akpata said “Today, I believe that our call to action must begin from our admission of the state of affairs of our administration of justice, that we are thoroughly dissatisfied with. There is a convergence of opinion of both the Bar and the Bench, that the Nigerian justice delivery system is not operating at its optimal best”.

Among the issues the NBA President said would be looked into at the Summit, is the process of appointment to the Bench of various courts in the country, which “must be manned by not just the best hands we can find, but also by incorruptible minds”.

He urged stakeholders to commit to statutory and constitutional reforms, institutional and funding reforms, and manpower reforms, for the desired change to take place.

The NBA President further said: “The lip service that we have paid to these reforms over the years, must stop from today”; while appealing to both the Bar and Bench to uproot every divisive tendency that is hampering the effectiveness of the justice sector in Nigeria.

AGF Malami Calls for Transparency in Judiciary Spending At one of the working sessions of the Summit, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, urged the Judiciary to be more transparent in the utilisation of its budgetary allocation on its financial expenses. The AGF remarked that the Judiciary has consistently lamented about poor funding, and yet no one can tell how the money allocated to them was been expended. He therefore submitted that for the issue of inadequate funding to be addressed in the Judiciary, there must be a system in place that will allow the financial books to be opened.

He pointed out that, “the starting point is transparency and accountability. Let the books be opened”.

According to the AGF, even though the budgetary allocation of the Judiciary is higher than that of the National

N

Assembly, the lawmakers seem to be better off than the Judiciary, “so there is the need to know how much is provided and how it is applied”. “The same way that the Executive opens its books for public scrutiny, the same way the Legislators and the Judiciary should open theirs”, he stated.

On the issue of appointment of Judges, Malami advocated the need for a legislation that will remove all bottlenecks that take away merit, in the process of selecting and appointing judicial officers.

He maintained that the current guidelines used in selecting and appointing Judges promote incompetence, adding that the consideration of the Federal character principle, further robs the Bench of merit when appointments are been made.

Speaking on the financial autonomy for the Judiciary, Malami recalled several efforts by the President Muhammadu Buhari administration to ensure that the Judiciary is truly independent, citing Executive Order 10 among others, which he regretted is being challenged in court. He however, called for consensus building among the three arms of Government, to realise the independence of the Judiciary.

Concept Note for the Proposed Justice Sector Summit by the Nigerian Bar Association and the Justice Research Institute; in collaboration with the National Judicial Council, the Konrad Adenauer Foundation, the United Nations Office on Drugs and Crime and the Justice Reform Project – 25th January 2022 Background An effective, fair, humane, accessible and accountable justice sector that enjoys the trust and confidence of citizens and businesses alike is indispensable for upholding the rule of law, and is a critical building block for the socio-economic and political development of any nation.

Despite all the efforts of the Judiciary, the other arms of Government, civil society and international development partners to work towards the establishment and maintenance of such a system in Nigeria, the Nigerian justice sector continues to fall short of expectations.

Nigeria ranks 121 out of 139 countries on the Rule of Law Index of the World Justice Project (“WJP”) 2021.

The WJP scores nations on eight factors including the state of the Criminal and Civil Justice System, where it measures, inter alia, whether criminal, civil and other judicial officers are competent and produce speedy decisions. It also measures the accessibility, impartiality and effectiveness of the Judiciary and other alternative dispute resolution mechanisms.

“There is a convergence of opinion of both the Bar and the Bench, that the Nigerian justice delivery system is not operating at its optimal best”

The National Judicial Policy developed under the auspices of the National Judicial Council (“NJC”) in 2017, identified the lack of efficiency of the judicial appointments process; lack of transparency and accountability in the judicial process and the administration of justice; poor judicial performance; the courts’ lack of capacity to promote and protect the rule of law; delay in justice delivery; the perceived inability of the Judiciary to sustain its independence; the poor quality of judgements; and the inadequacy of resources needed for the Judiciary to provide efficient administration of justice, among others, to be the reasons for the public’s increasing lack of confidence in the Judiciary.

Whilst the National Judicial Policy identifies a broad range of challenges confronting the Nigerian justice sector, other stakeholders in the justice sector have focused on those aspects of the challenges that they consider to be most fundamental.

The Justice Research Institute (“JRI”), has focused on the judicial appointments process. On August 8, 2020, the JRI held its first Law and Policy Webinar Series themed: “Selection and Appointment of Judges: Lessons for Nigeria.” The webinar examined the underlying weaknesses in Judges’ selection and appointment processes in Nigeria, and proffered recommendations for the creation of an ideal system that would attract and admit only the best candidates to the Bench.

Chaired by the Vice President of Nigeria, Professor Yemi Osinbajo GCON, SAN, the webinar featured senior Judges from Ghana, Kenya and the United Kingdom speaking on their respective judicial appointment systems. The webinar was also attended

by Senator Ahmed Lawan, the President of the Senate; Rt. Honourable Femi Gbajabiamila, Speaker of the House of Representatives; and Hon. Justice Ibrahim Tanko Muhammad, CFR, Chief Justice of Nigeria.

The NBA on its part, has made elaborate proposals for reform of the judicature provisions in the 1999 Constitution, in a Bill it presented to the Constitution Review Committees of both Houses in the National Assembly as part of the ongoing Constitution Review process. The Bill focuses, amongst other issues, on the related problems of proper budgeting and funding for the Judiciary, and the need to separate the administration of the courts from the administration of justice. It also addresses a variety of steps proposed, to eliminate delays in the justice delivery process. In this regard, and in collaboration with the Justice Reform Project (“JRP”), the NBA has also put machinery in place to establish a Court Monitoring Scheme, designed to generate actionable data and statistics that would assist in identifying the primary causes of the delays in justice delivery.

Collaboration by Interested Stakeholders The JRI planned to conduct a follow up webinar in 2021 on the judicial appointments process, to assess the output from its first webinar and take stock of any advancement that may have taken place as a result.

However, it became evident that other stakeholders in the justice sector, specifically the NBA, the NJC, the

United Nations Office on Drugs and Crime (“UNODC”), the Konrad Adenauer Foundation and the JRP were all planning a variety of initiatives, all aimed at addressing perceived challenges in the Nigerian justice sector. For example, the UNODC and the Konrad Adenauer Foundation had commissioned a study on the judicial selections and appointments process, with plans to host an event to publish the results and recommendations of the study.

Consequently, it was resolved that rather than having separate initiatives and events with the potential for dissipation of efforts and impact, these organisations would come together to host a one-day Justice Sector Summit aimed at addressing the most pressing challenges confronting the Nigerian justice sector.

The stakeholders realise that a one-day Summit cannot address all the challenges confronting the justice sector, and they have thus, narrowed the focus of this particular Summit to the three broadly interrelated challenges and one related initiative highlighted in the introduction above.

It is hoped that this Summit will become an annual event, which will enable the stakeholders monitor the progress that is made and track the changes that continue to require implementation.

The Challenges to be Addressed a) Establishment of a Solely Merit-Based Judicial Selection, Appointment and Promotion System There is a general acknowledgement that the current judicial selection, appointment and promotion system in the Nigerian justice sector is inadequate. The rules regulating the process do not provide sufficient transparency to enable the best candidates emerge, and also undermine the independence of the Judiciary by making judicial appointments susceptible to judicial, as well as political influence.

The Summit examined the various recommendations made in the study commissioned by the UNODC and the Konrad Adenauer Foundation, as well as the recommendations made at the JRI’s Law and Policy webinar held in August 2020 relating to the best means of overhauling the system. Primary focus was on amending the NJC’s Guidelines for the Appointment of Judicial Officers, but attention was also be paid to the procedure applicable at the State Judicial Service Commissions, which is where a significant proportion of the process for the appointment of judicial officers is initiated. Consideration was also given to necessary constitutional reforms that are required in this regard, that could be implemented as part of the ongoing constitutional review process.

The specific areas the recommendations addressed amongst others are: (i) Methods to be adopted and steps to be taken to increase the level of transparency in the judicial appointments process by the wide advertisement of vacancies, and of the names and identities of those who apply to be considered for appointment to judicial office with ample time provided for feedback. (ii) Methods to be adopted and steps to be taken to implement a rigorous and merit based system of testing applicants for appointments to judicial office, to ensure that they have the knowledge, capacity and temperament required for the office.

VII COVER

T H I S D AY • TUESDAY, FEBRUARY 1, 2022

NBA Pushes Justice Sector Reform to the Front Burner (iii) Methods to be adopted and steps to be taken to implement a rigorous and merit based system of screening and selecting applicants for promotion to the higher courts, which must be based on an objective assessment of their performance in their present courts. b) Securing a different approach to budgeting and funding for the Judiciary It is generally acknowledged that, the justice sector in Nigeria is underfunded. Successive administrations have overseen a reduction in the amount voted for the Judiciary in the annual budget, this amount reducing initially in absolute terms, and more recently, as a percentage of the total budget.

This problem has been compounded by a lack of clarity in the extant constitutional provisions with regard to where the responsibility lies for funding the Judiciary as between the Federal and State tiers of Government, and a concern about the consequential impact on the Judiciary’s independence. This has led to litigation between the 36 States and the Federal Government; has led to previous and still threatened strike action by the Judiciary Staff Union (JUSUN); and has led to the clamour for financial autonomy of the Judiciary.

The Summit examined the issues arising from this, with particular emphasis on the need to separate the mechanics for financial autonomy of the Judiciary, from the inadequate budgetary provision for the Judiciary at all levels. The Summit addressed the inadequacy of the funding for the Judiciary, and the directly related problem of inadequate manpower (quantity); inadequate manpower (quality); inadequate support staff (quantity and quality); and inadequate infrastructure and technological support.

The Summit also examined constitutional reforms that have been proposed by the NBA and others, as a means of addressing these problems.

The specific areas the recommendations addressed amongst others are: (i) Steps to be taken to establish clarity as to which tier of Government bears responsibility for funding the Judiciary at various levels, and the source from which these funds are to be allocated. (ii) Steps to be taken to establish a process of planning and budgeting for the Judiciary at various levels that anticipates the Judiciary’s present and future needs, and does not take advantage of the Judiciary’s relative lack of expertise or involvement in financial and budgetary matters, relative to the other arms of Government. (iii) Steps to be taken to ensure that funds budgeted and allocated to the Judiciary, are treated as a first line charge on the accounts from which these funds are to be allocated and given priority. (iv) Steps to be taken to ensure accountability and proper auditing of the Judiciary for any funds allocated to it, and to insulate judicial officers from any direct involvement with contracting, procurement or disbursement of public funds, and thus, shield them from inappropriate investigations or enquiries that would demean their authority. c) Identifying the primary causes of delays in justice delivery in Nigeria, and devising and implementing workable solutions to address this problem The delays in the Nigeria justice sector, have become an embarrassment. The President, the Vice President and the CJN have all spoken about this in recent times, at various public fora. Foreign courts have passed derogatory comments concerning this. The citizenry who are supposed to see the courts as the last hope of the common man, have lost hope in the ability of the justice sector to deliver results within anything close to a reasonable time. The cliché that justice delayed is justice denied is exemplified by what happens in our justice sector, and as the Vice President mentioned recently, unlike other jurisdictions, the problem in Nigeria is not access to justice, but exit from justice!

The Summit examined the causes of this problem, and proffered solutions. At a basic level, it is believed that the problem is interrelated with the previous two the Summit dealt with. A judicial appointments process that is not merit-based will result in the appointment of a significant number of judicial officers who lack the capacity and skills required for the job, and this will, of necessity, contribute to delays in the disposal of cases. The inadequate budgeting for and funding of the Judiciary will mean that there is an inadequate number of judicial officers to deal with the work load, and that the remuneration and conditions of service in the Judiciary will not be adequate to attract the type of talent required in sufficient numbers. The inadequate budgetary allocation also results in an inability to put the right type of infrastructure, technology, support staff, etc. in place to aid the efficient disposal of cases.

In addition to this, there appears to be an anachronistic attachment to archaic methods of practice, and the penchant for dilatory conduct on the part of members of the Bar and Bench who fail to realise that society has a right to demand and expect swift and efficient judicial services that resolve the substance of the disputes that are submitted for determination, rather than one that dwells on technicalities and procedural niceties.

The Summit examined all these issues, and proffered solutions for adoption, including the overhaul of the rules of practice and procedure, and the rules of evidence designed to eliminate the opportunities for resort to dilatory technicalities that create room for delay. The Summit also pushed for the justice sector to make optimum use of available technology, to aid advances in efficiency.

It looked into the various low hanging fruits that can

Vice President, Prof Yemi Osinbajo GCON, SAN giving his Speech at the Summit be implemented to address some of the problems already identified, such as enhanced use of virtual hearings for the disposal of paper applications that do not involve oral witness evidence; the award of enhanced and full indemnity costs as a consequence of any dilatory conduct or unpreparedness on the part of counsel or parties; the scheduling of cases for specific times and duration; the elimination of the “court is not sitting” phenomenon to the barest minimum.

The Summit also recommended an increased capacity and willingness by judicial officers to deal with unmeritorious matters at an interlocutory stage, and an effective manner in which to punish dilatory conduct on the part of counsel and litigants by compensatory costs order and disciplinary proceedings where necessary.

Also addressed was the absence of a service culture in the justice sector, and the need for Judges and Lawyers to recognise that they are service providers whose reason for existence should only be measured against whether the public is receiving the desired service efficiently, not as a favour or as a matter of grace; the inadequacy of the disciplinary system at the Bar and the Bench, which makes it difficult for the Bar and the Judiciary to enforce proper conduct as well as the inadequacy of confidence on the part of judicial officers to maintain control and discipline of their courts to ensure efficient proceedings. d) Implementing a Comprehensive Court Monitoring Scheme The NBA is taking steps to establish a comprehensive court monitoring scheme, in which accredited Lawyers will observe and report on court proceedings in a select number of pilot jurisdictions, with the intention to roll this out right across the country in due course. The purpose of the scheme is to generate statistics and actionable data, that will establish the weighting that ought to be given to the various causes of delay in the justice sector. The NBA’s court monitoring scheme, is an effort to identify the true causes of delay in the justice sector.

The NBA is fortified in its effort to implement a court monitoring scheme by the discovery that the NJC has also implemented a court monitoring scheme, Corruption and Financial Crimes Cases Trial Monitoring Committee (COTRIMCO), albeit one that was limited to monitoring the proceedings in matters relating to financial crimes.

The NBA scheme will generate data and statistics that will enable the justice sector assess the performance of the Judiciary, as well as the Lawyers that appear before them, thus, enabling objective decision making as to the primary causes of the delays in the system.

Statistics such as the average disposal rate of cases in the various courts; the average number of cases that the courts deal with on any given day, irrespective of the number of cases on their docket; the various reasons for cases not proceeding to hearing on the days scheduled for hearing, and the stakeholders most responsible for this as between the Bench, the Bar, the support staff or the litigants themselves.

Inauguration of Members of the NBA Electoral Committee The President of the Nigerian Bar Association, NBA, Mr. Olumide Akpata, on Monday, January 24, 2022 inaugurated the members of the Electoral Committee of the Nigerian Bar Association, ECNBA, ahead of the 2022 elections.

Akpata, while delivering his inaugural speech at the NBA Headquarters, Abuja, noted that if there’s any Association that should conduct free and fair elections, it should be NBA, because the Association

“The cliché that justice delayed is justice denied is exemplified by what happens in our justice sector, and as the Vice President mentioned recently, unlike other jurisdictions, the problem in Nigeria is not access to justice, but exit from justice!”

stands as the conscience of the society.

Akpata said: ‘the Pedigree of members of Committee gives hope that our profession is in safe hands”; and he assured the Committee of cooperation from the leadership of NBA. He expressed concern however, that contrary to how things ought to be, the Association’s elections have always been engulfed in controversies. He further noted that, the controversies are what led to setting up an Electoral Reform Committee by him.

He said, “I am pleased to welcome you all to the inauguration of the Electoral Committee of the Nigerian Bar Association. This event is indeed, a very important function in the context of the future of the Nigerian Bar Association.

“Human society has always acknowledged the need for a leadership, in order to guide the affairs of mankind and direct the society to its goals and aspirations. The means by which that leadership is arrived at in a democratic setting, has always been through free, fair and credible elections.

“For us in the NBA, the same principles hold true.

Indeed, if there is one Association whose leadership must proceed from a free, fair and transparent electoral process, then it should be the NBA for obvious reasons. We stand relative to the society as its conscience, and hence, must be seen to be above board.

“Unfortunately, we have not acquitted ourselves in this light. Evidence of this, is found in the controversial nature of the elections that produced the last three National Officers of the NBA. “It was consequent upon the above, that I made the reform of our electoral process as one of the key pillars of our campaign manifesto. In a bid to secure the execution of that mandate, you may recall that one of my first official acts as the President of this great Association, was to empanel an Election Audit and Reforms Committee headed

by Ayo Akintunde, SAN. “The mandate of that Committee was clear: to audit the last three elections of our National Officers, with a view to drawing lessons which will be used to improve our subsequent elections.

“The report of the Committee’s work will become an invaluable resource for the Constitution Review and Amendment Committee which gave legislative force to the recommendations of the Election Audit and Reforms Committee, by codifying them in the recently amended Constitution of the NBA, as adopted at our last Annual General Conference (“AGC”) in Port Harcourt.”

Akpata expressed hope that the new ECNBA will do better in the 2022 elections of the Association, considering the pedigree of members of the Committee. He also assured the ECNBA that the Association will give the Committee full support, to ensure that the Committee delivers well in its mandate.

“As we prepare for the next round of election of National Officers, I am confident that the issues that aggregated to blight the outcome of the elections of our recent history will not repeat themselves this time. We owe it a duty to bequeath to our profession and its members, an election which they can be proud of; and which as far as practicable, is free from any form of controversy.

“I am fortified in this belief by the fact that the Chairman of this August Committee - Mr Ayo Akintunde, SAN was also the Chairman of the Election Audit and Reforms Committee which undertook the groundwork of what is today, a template we can rely upon to deepen the quality of our electoral process.

“Indeed, the pedigree of other members of this Committee gives one hope that our profession is in good hands. I must however, acknowledge in advance that the task of this Committee is no less daunting. Yet, it is one certainly not beyond the abilities of the Committee.

“As I conclude, may I on behalf of the National Officers, assure you of the support and cooperation of the Association within the limits permitted by our Constitution, towards the execution of the mandate

of the Committee as contained in its Terms of Reference.

“With these few remarks, it is my honour to officially inaugurate the Electoral Committee of the Nigerian Bar Association 2022”, Akpata said.

The ECNBA which is the charged with the responsibility of conducting biennial elections into the Association’s leadership, is vested with the mandate of conducting the NBA National Executives election slated to hold later this year. Akpata had at the last NBA National Executive Committee (NBA-NEC) quarterly meeting in Abeokuta, announced the appointment of members of the Electoral Committee to conduct the 2022 National Officers election. The Committee which is chaired by Ayo Akintunde, SAN also includes: Mabel Ekeke, Secretary; Human Rights Activist, Prof Chidi Odinkalu; former NBA Treasurer, Aisha Ado-Abdulahi, and leading ICT expert, Mr Basil Udotai.

NBA Signs MoU With House of Reps on Law Reform Office of the Speaker of the House of Representatives, last Monday, formally signed a Memorandum of Understanding, MoU, with the NBA to collaborate on law reforms for the promotion of good governance and sustainable development.

Speaking at the event that held in his office that attracted the leadership of NBA led by its National President, Olumide Akpata, Rt. Hon. Gbajabiamila said that the collaboration between the two bodies since the inception of the 9th House has witnessed positive results in the passage of some critical laws in the country.

He said: “This is basically the formalisation of something that’s already working. The signing of the MoU may seem symbolic, but I see it beyond that. I see it as a way of deepening our democracy and developing the country, which we all so passionately love. Contrary to what a lot of people think, I always believe that governance is about collaboration; it’s about everybody. It’s not about politicians alone, it’s about everybody, so we’ve got to maximise our efforts and potential, to bold, bigger and better things for this country.

“For me, this is a critical collaboration between two very important sectors. This is a public-private partnership between the Legislature and the NBA. “I am glad that law reform is a core mandate of the NBA, and for us too, law reform is part of our core mandate.

When we repeal and amend laws, we are reforming laws.

It’s gratifying to know that we actually have a shared mandate, but what we do with that shared mandate is what will determine how far we can take this”.

The Speaker commended the leadership of the NBA and what it has been doing for the profession, while emphasising the commitment, speed and diligence with which it worked and collaborated with the House on Police and Electoral law reforms, among others.

“I don’t think there’s been a time that the Legislature and NBA have worked so seamlessly together, towards making Nigeria a better place”, he noted.

Earlier in his remarks, the NBA President, Olumide Akpata, appreciated the Speaker and the House for being most accommodating with regard to collaboration, and the potential of making progress together. He said that at the heart of the Association’s mandate was the pursuit of law reforms; Akpata noted that the NBA was desirous of working with the Legislature to bring to bear legislation for good governance, while noting that law associations are part of the legislative process in some countries.

He added that the signing of the MoU was to remedy the past situation, where the NBA seemed not to be keen on working with the Legislature. He recalled the signing into law of the Police Service Commission law as a result of the collaboration between the House and NBA following the 2020 #EndSARS protests, saying it showed what collaboration of this nature can achieve. He informed and solicited the Speaker’s assistance, about the Legal Practitioners’ Bill that is before the two chambers of the National Assembly.

Mr Akpata also commended the Speaker and the House, for the office space given to the NBA within the National Assembly complex. The Special Adviser to the Speaker on Policy and Strategy, Dubem Moghalu, had earlier explained that the MoU was to formalise the ongoing operation between the Office of the Speaker and the NBA, particularly on the issue of law reform.

cont'd on page VIII & IX

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Representative of the Chief Justice of NIgeria, Hon. Justice John Inyang Okoro, JSC, delivering the CJN's Speech President of the NBA, Mr. Olumide Akpata, delivering his Welcome Address

L-R: Chief Judge of Lagos State, Hon. Justice Kazeem Alogba; Chairman, House of Representatives Committee on the Judiciary, Hon. Onofiok Luke and the Vice President, Prof. Yemi Osinbajo GCON, SAN

Keynote Speaker, Hon. Justice Amina Adamu-Augie, JSC, CON

L- R: Director, National Judicial Institute, Gilbert Tor; Former Attorney-General Edo State, Prof Yinka Omorogbe, SAN; Chairman, NBA Judiciary Committee, Dr Babatunde Ajibade, SAN (Moderator); Prince Lateef Fagbemi, SAN and Director, Access to Justice, Mr Joseph Otteh

Former President of the NBA, Dr Olisa Agbakoba, SAN (middle), moderating the Plenary Session which featured, L-R: Hon. Onofiok Luke, Olumide Akpata, Hon. Justice Amina Adamu-Augie and Abubakar Malami, SAN

L-R: Dr Muiz Banire, SAN, Dr Olisa Agbakoba, SAN and Mr George Etomi

L-R: Hon. Onofiok Luke, Chairman, NBA Welfare Committee, Y. C. Maikyau, SAN and former NBA General Secretary, Mazi Afam Osigwe, SAN L- R: Front Row: Former NBA General Secretary, Phillip Umeh, SAN; Olumide Akpata; Justices of the Supreme Court, John Inyang Okoro and Ejembi Eko

L-R: Partner, Aluko & Oyebode, Tunde Fagbohunlu, SAN; Chairman, ICPC, Prof Bolaji Owasanoye, SAN; President, National Industrial Court, Hon. Justice B.B Kanyip; Attorney-General of Delta State, Isaiah Bozimo (Moderator); Chief Judge, Borno State, Hon. Justice Kashim Zannah and the D.G., Budget Office of the Federation, Mr Ben Akabueze

A cross-section of Delegates at the Summit

L-R: Federal High Court Judge, Hon. Justice (Dr)Nnamdi Dimgba; Partner Aelex, Mrs Funke Adekoya, SAN; High Court of FCT Judge, Hon. Justice Olukayode Adeniyi; former Solicitor-General, Lagos State, Mr Fola Arthur-Worrey; Prof Ernest Ojukwu, SAN (Moderator) and Executive Secretary, Administration of Criminal Justice Monitoring Committee, Sulayman Kuku-Dawodu

NBA President, Olumide Akpata (middle) and Dr Babatunde Ajibade, SAN (right) welcoming Justice of the Supreme Court, Uwani Musa Abba Aji to the Summit

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L-R: Former NBA General Secretary, Deacon Dele Adesina, SAN; Chairman Council of Legal Education, Chief Emeka Ngige, SAN; Editor This Day Lawyer, Mrs Onikepo Braithwaite; NBA General Secretary, Mrs Joyce Oduah and former NBA General Secretary, Chief Emeka Obegolu, SAN

UNODC Resident Representative in Nigeria, Dr Oliver Stolpe

Hon. Attorney-General of the Federation and Minister for Justice, Abubakar Malami, SAN

L-R: Chairman, NBA Lagos Branch, Ikechukwu Uwanna; Partner, Templars, Godwin Omoaka, SAN; NBA 3rd Vice-President, Victor Frank-Briggs, and Secretary, NBA, Welfare Committee, Mr Ogaga Emoghwanre

Head of the Nigeria Office of the Konrad Adenauer Stiftung Foundation, Dr Vladimir Kreck

Summit Co-Compere and Partner, Africa Legal Practice, Mrs Oyinkan Badejo-Okusanya

L-R: NBA National Publicity Secretary, Dr. Rapulu Nduka, Chairman NBA Lagos Branch, Mr Ikechukwu Uwanna and Chief Registrar, Abia State Customary Court of Appeal, Mrs Ijeoma Nkwume

L-R: Chairman NBA-SPIDEL, Dr Monday Ubani, President National Industrial Court, Hon. Justice B. B. Kanyip and former NBA General Secretary, Jonathan Gunu Teid

L-R: Victor Frank-Briggs, Olumide Akpata and Chairman, Governing Council of the NBA Institute of Continuing Legal Education, Mr Tobenna Erojikwe

L-R: Publicity Secretary, NBA Benin Branch, Ogaga Emoghwanre, Hon. Justice Amina Adamu-Augie, JSC and Chairman, NBA Benin Branch, Pius Oiwoh

A cross-section of Delegates at the Summit

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INSIGHT ABUBAKAR D. SANI

XL4sure@yahoo.com

08034533892

Is the Terrorism (Prevention) Act Valid?

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his question is prompted by the apparent disconnect between the terrorist offences and acts of terrorism which are outlined in the Terrorism (Prevention) Act, 2011, as amended, and the plenitude of law-making powers which the Constitution donates to the National Assembly. That the Assembly does not have a blank cheque to enact whatever law it deems fit is a constitutional truism, which is so notorious that even non-Lawyers are familiar with it.

However, in case judicial validation of this is required, we need look no further than TOGUN v OPUTA (No.2) (2001) 16 NWLR Pt. 740 Page 597 at 644 where the Court of Appeal held that: “Nigeria is a Federal Republic with a Constitution, in which the legislative powers of the National Assembly and State Houses of Assembly are clearly defined. We have the Exclusive and the Concurrent Lists, in which the National Assembly could legislate. This leaves the State Houses of Assembly to legislate exclusively on residual matters not included in either the Exclusive or Concurrent Lists”.

The foregoing is reinforced by the decision of the Apex Court in DOHERTY v BALEWA (1961) 2 NSCC Page 248 at 252 where it explicitly stated that: “The Federal Parliament can legislate for the Federation, only on those matters in respect of which it is specifically empowered to legislate under the Constitution”.

Status of the Terrorism Prevention Act To the extent that the Terrorism Prevention Act (“TPA”) was enacted by the National Assembly, the obvious question is if the Constitution empowers the Assembly to enact it. This necessarily takes us to the fine print of the TPA, specifically the conduct, acts or omissions which it prohibits on the grounds that they are “acts of terrorism” as aforesaid. This provision (Section 1 (3) of the TPA, as amended) together with those of Section 1 (2) of the Act, put a person in grave risk of losing his (or her) life if convicted of violating them. Given their obvious importance, it is imperative to set them out verbatim, as follows: -Section 1(2): “A person or body corporate who knowingly in or outside Nigeria directly or indirectly willingly – (a) Does, attempts or threatens any act of terrorism; (b) Commits an act preparatory to or in furtherance of an act of terrorism; (c) Omits to do anything that is reasonably necessary to prevent an act of terrorism; (d) Assists or facilitates the activities or persons engaged in an act of terrorism or is an accessory to any offence under this Act; (e) Participates as an accomplice in or contributes to the commission of any act of terrorism or offences under this Act;

(f) Assists, facilitates, organises or directs the activities of persons or organisations engaged in any act of terrorism; (g) Is an accessory to any act of terrorism; or (h) Incites, promises or induces any other person by any means whatsoever to commit any act of terrorism or any of the offences referred to in this Act, commits an offence under this Act and is liable on conviction to the maximum of death sentence”.

- Section 1(3): “In this section, ‘act of terrorism’ means an act which is deliberately done with malice aforethought and which: (a) May seriously harm or damage a country or an international organisation; (b) Is intended or can reasonably be regarded as having been intended to – i. Unduly compel a government or international organisation to perform or abstain from performing any act; ii. Seriously intimidate a population; iii. Seriously destabilise or destroy the fundamental political, constitutional, economic or social structures of a country or an international organisation or otherwise influence such government or international organisation by intimidation or coercion; and (c) Involves or causes, as the case may be – i. An attack upon a person’s life which may cause serious bodily harm or death; ii. Kidnapping of a person; iii. Destruction to a government or

“The implication of this is that, things like kidnapping, physical assault, destruction of government facilities, nonship/non-aircraft/non-rail transport systems/infrastructure …..which are purportedly ‘acts of terrorism’ under the TPA, are in excess of the powers of the National Assembly under the Constitution. Accordingly, in my view, they ought not to be classified as terrorist acts punishable under the TPA“

public facility, a transport system, an infrastructural facility, including an information system, a fixed platform located on the continental shelf, a public place or private property, likely to endanger human life or result in major economic loss; iv. The seizure of an aircraft, ship or other means of public or goods transport and diversion or the use of such means of transportation for any of the purpose in paragraph (b)(iv) of this subsection; v. The manufacture, possession, acquisition, transport, supply or use of weapons, explosives or of nuclear, biological or chemical weapons, as well as research into, and development of biological and chemical weapons without lawful authority; vi. The release of dangerous substances or causing of fire, which is to endanger human life; vii. Interference with or disruption of the supply of water, power or any other fundamental natural resource, the effect of which is to endanger human life; (d) An act or omission in or outside Nigeria which constitutes an offence within the scope of counter-terrorism protocols and conventions duly ratified

by Nigeria” As previously stated, the next question is whether any of these provisions are within the legislative competence of the National Assembly under the Constitution. If they are not, it simply means that they are ultra vires, invalid, null and void in all the 36 States of the Federation – with the obvious exception of the FCT, Abuja for which the National Assembly legislates by virtue of Section 299(a) of the Constitution – in much the same way that the 36 States Houses of Assembly legislate directly for the States.

In this regard, if the TPA is juxtaposed with the Exclusive and Concurrent Legislative Lists of the Constitution, it will be seen that, apart from references to ships, the continental shelf, seizure of aircraft, nuclear biological/chemical and other kinds of weapons and explosives,

power, duly ratified anti-terrorism treaties and railways, none of the remaining so-called ‘acts of terrorism’ itemised in the TPA enjoy the backing of the Constitution. The aforesaid exceptions, in my opinion, are the subject of the following specific provisions in the Constitution, namely Items 2, 3, 17, 21, 31, 36, 41, 46, 55 and 68 of the Exclusive Legislative List as well as Paragraph 1(a) of Part III of the 2nd Schedule thereof.

The implication of this is that, things like kidnapping, physical assault, destruction of government facilities, non-ship/non-aircraft/ non-rail transport systems/infrastructure (including those relating to information technology) – even if they (regrettably) cause serious bodily harm or death – which are purportedly ‘acts of terrorism’ under the TPA, are in excess of the powers of the National Assembly under the Constitution. Accordingly, in my view, they ought not to be classified as terrorist acts punishable under the TPA. Therefore, with the exception of the FCT, Abuja, the affected provisions of the Act are unenforceable in any of the 36 States of the Federation. As the Supreme Court held in BODE GEORGE v FRN (2014) All FWLR Pt. 718 Page 879, the National Assembly is incompetent to enact a general criminal law applicable across Nigeria Conclusion The inclusion of matters in the TPA which are in excess of the powers of the National Assembly under the Constitution, can only be rationalised as the predictable reaction of a nation under siege, increasingly reeling from the pull of multiple centripetal forces.

The latest manifestation of this was the classification and proscription of bandits, a few weeks ago, as terrorists. Whether such legislative interventions will stem the tide of insecurity in Nigeria, remains to be seen.

What is clear is that, such blanket statutory demonisation speak more to the failure of governance at all levels, than to genuine belief in the efficacy of draconian laws as a deterrent. That we have continued to resort to that option despite the lessons of history, is nothing but the triumph of hope over experience.

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T H I S D AY ˾ DAY ͯ˜ 2022

FEATURES

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

Fulfilling the Pledge on Improved Maritime Security The Director of Information, Nigerian Navy, Commodore Suleman Dahun, who reviewed one year of Vice Admiral Awwal Zubairu Gambo’s stewardship as the 21st indigenous Chief of Naval Staff, writes that he has won the confidence of officers and men because he is fulfilling his pledge on improved maritime security

Fleet Renewal Milestone: Chief of the Naval Staff, Vice Admiral AZ Gambo presenting a model of the 3rd locally built Seaward Defence Boat NNS OJI to President Muhammadu Buhari at the commissioning ceremony of Nigerian Navy ships, boats and a helicopter

Cross section of ships and boats recently commissioned and inducted into the Nigerian Navy fleet

NNS LANA departing the Port of Saint Nazaire, France on her maiden homeward voyage to Nigeria

Nigerian Navy’s 3rd locally built Seaward Defence Boat NNS OJI

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igeria’s maritime area of interest extends beyond her immediate environment to include the entire Gulf of Guinea (GoG). The GoG has a coastline of about 2,874 nm stretching from Angola in Southern Africa to Senegal in West Africa.

The region has a dominant portion of global hydrocarbon deposits and is geographically positioned with comparative advantage owing to the absence of narrow maritime shipping lanes, straits or chokepoints linking major global shipping destinations.

The GoG, with its rich endowment unfortunately has the unintended consequences of attracting various threats such as piracy, smuggling and kidnapping for ransom that continue to affect the economic lifeline of countries in the region.

The Nigerian Navy has established dedicated naval operations and initiatives to counter piracy/sea robbery attacks in Nigeria’s maritime environment, while also engaging in deeper consultations with maritime stakeholders. These initiatives have led to several successes in anti-piracy operations.

Pertinently, significant successes were achieved in bringing the rate of piracy to the barest minimum, especially in the last 3 Quarters of 2021. It is also instructive to note that several other attacks on vessels in Nigerian waters were aborted by prompt response from NN ships on patrol using intelligence from her robust MDA infrastructure namely: Falcon Eye and Regional Maritime Domain Awareness (RMAC) assets.

The Nigerian Navy set a new historic milestone in December 2021 when the President and Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, President Muhammadu Buhari GCFR commissioned an array of vessels and helicopter to add to the country’s already existing formidable naval assets.

During the commissioning of the newly acquired platforms, boats and helicopter into the Nigerian Navy fleet at the Naval Dockyard Limited, Victoria Island, Lagos, His Excellency President Muhammadu Buhari applauded the efforts of the Nigerian Navy towards improving maritime security in the GoG and safeguarding Nigeria’s maritime environment including its hydrocarbon resources and accompanying oil and gas infrastructure.

He added that, considering the nation’s current huge dependence on oil and gas revenues, the Nigerian Navy was undeniably a major contributor to the economic mainstay of Nigeria.

The President therefore commended

the Nigerian Navy’s efforts in the fight against criminality within and beyond the Nigeria’s maritime domain and further expressed his confidence that the newly commissioned platforms will greatly enhance the efforts of the Service in further securing Nigeria’s maritime environment.

President Buhari added that he was especially delighted by the commissioning of the Seaward Defence Boat (SDB) III, Nigerian Navy Ship OJI which is the third in the series of SDBs to be built locally and entirely by the Nigerian Navy engineers.

This was a proud moment for the Nigerian Navy and the highpoint of the event. Mr President also performed the keel laying ceremony for SDB IV and SDB V. He lauded the Nigerian Navy for maintaining its drive for local content development – which is in tandem with the policy of his administration.

The President reiterated his commitment to adequately equip the

"President Muhammadu Buhari applauded the efforts of the Nigerian Navy towards improving maritime security in the Gulf of Guinea and safeguarding Nigeria’s maritime environment including its hydrocarbon resources and accompanying oil and gas infrastructure"

Nigerian Navy with the right mix of platforms which led to the Service taking delivery of the Nigerian Navy’s first ever purpose built Offshore Survey Vessel, NNS LANA constructed by OCEA France, in May 2021 while also acknowledging the business dependability of Messrs OCEA Shipyard-France for the timely completion of the contract.

Enhancing Nigerian Navy’s Constitutional Role The Chief of the Naval Staff (CNS), Vice Admiral Awwal Gambo who was the host for the commissioning/induction ceremony, stated that NNS LANA would be involved in the hydrographic survey of Nigeria’s territorial waters towards ensuring safety of navigation within the country’s waterways.

Similarly, the SDB III, the Inshore Patrol Crafts and Fast Patrol Boats would be deployed for surveillance and patrol duties within Nigeria’s water. Admiral Gambo stressed that, this undertaking was aimed at enhancing the performance of Nigerian Navy’s constitutional role regarding hydrographic survey and policing of Nigeria’s water.

Furthermore, Admiral Gambo explained that the induction of the new platforms, would lead to further decline in criminal activities in the Nigeria’s maritime domain.

He reiterated that the Nigerian Navy will continue to factor in the realities of national imperatives and apply optimal policies and strategies in addressing the security challenges in the nation’s maritime domain-including the GoG. Admiral Gambo who was appointed

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FEATURES

Restoring Nigerian Navy’s Sea Lift capability: The new Nigerian Navy’s Landing Ship Tank, NNS KADA undergoing her maiden sea trial off the coast of United Arab Emirates

Robust Response: Chief of the Naval Staff, Vice Admiral AZ Gambo firing a pyrotechnic gun to flag off Exercise QUIET WATERS

New riverine patrol boats built at the Naval Shipyard Limited, Port Harcourt, Rivers State

Nigerian Navy Special Boat Service operatives on tactical manoeuvres during Exercise OBANGAME EXPRESS

by President Buhari in January 2021, added that the commissioning of NNS OJI and other locally built vessels was a manifestation of the federal government’s commitment to maintaining a well-equipped Navy that Nigerians would be proud of.

He thanked President Buhari for his tremendous support to the Service including those that have contributed one way or the other to make the dream a reality and urged maritime and security stakeholders to sustain a robust cooperation towards safeguarding the nation’s maritime domain.

Massive Decline in Criminality in Nigerian Waterways With the induction of the new platforms, the Nigerian Navy continues to beef up its operational capacity as well as the scope and depth of its activities both in Nigeria’s waters and the GoG. The surveillance capability of the Nigerian Navy was enhanced with the commissioning of the Falcon Eye stateof-the-art Maritime Domain Awareness Surveillance System by the Vice-President Yemi Osinbajo, representing President Buhari in July 2021 at the Nigerian Naval Headquarters Abuja.

The system incorporates various sensors located along Nigeria’s enormous coastline.

During the commissioning, the VicePresident pointed out that Nigeria loses around $26bn a year to criminal activities, particularly piracy and sea robbery and this fact underscores the need to enhance maritime security in Nigeria’s waters.

Speaking at the launching of the System, Chief of the Naval Staff, Vice Admiral Awwal Gambo said, the Falcon Eye “translates to complete coverage of Nigeria’s Exclusive Economic Zone. He stated that monitoring and analysis of data from the various sites strategically located along the nation’s coastline is facilitated through the 4 Falcon Eye Centres in Abuja, Lagos, Yenagoa and Calabar.

He added that the coverage of the satellite aspect of the Automatic Identification System of Falcon Eye extends beyond Nigerian waters to Cote D’Ivoire in the

West, Cameroon at the East, and Angola at the South East.”

Pertinently, the system, combined with the various sea and air platforms as well as well thought out strategies and vigorous leadership have resulted in a steep decline in criminal activities within the nation’s maritime domain and the GoG in 2021.

The Nigerian Navy, working with foreign navies conducted 3 major exercises which include Ex OBANGAME EXPRESS, Ex GRAND AFRICAN NEMO and Ex SAFE DOMAIN 1 in 2021. Records indicate that in Year 2021, 44 vessels involved in illegal bunkering were arrested leading to the recovery of 1,664,628.61 barrels of crude oil and 45,752.91 Metric Tons of Automotive Gas Oil valued at N55.1 billion and N11.8billion respectively.

In October 2021, the Nigerian Navy arrested a Singapore flagged bulk cargo ship, MV CHAYANEE NAREE with 32.9kg of smuggled cocaine. The 22 crew of the CHAYANEE NAREE, all reported to be Thai nationals, are being detained onboard the ship at the Lagos Port Complex while the investigation continues.

The International Maritime Bureau (IMB) Global Piracy Report of 14 Jul 21, indicates the lowest total of piracy and sea robbery against ships

in 27 years. Notably, there has been a marked decline in piracy in the GoG in 2021 with 11 pirate incidents recorded compared to 44 in 2020.

Similarly, there was a decline in pirate attacks and sea robbery in Nigeria’s water where the country reported only 11 pirate incidents and 3 sea robberies in 2021, compared to 22 pirate incidents and 16 sea robberies in 2020. These figures convey proof of the effectiveness of the Nigerian Navy maritime security engagements.

The security and economic implications are quite enormous not only for Nigeria but the sub-region as efforts to neutralise activities of criminal elements and economic saboteurs will stimulate and accelerate maritime trade and commerce, reduce costs including insurance premium and hopefully put an end to the smuggling of crude oil which the country depends so heavily on.

Full Confidence of Officers, Ratings Having articulated his vision and mission statements, produced a Strategic Directive document as well as the Nigerian Navy Strategic Plan, the Chief of the Naval Staff, Vice Admiral Awwal Gambo has won the full confidence of officers and ratings who affirmed their loyalty

"Having articulated his vision and mission statements, produced a Strategic Directive document as well as the Nigerian Navy Strategic Plan, the Chief of the Naval Staff, Vice Admiral Awwal Gambo has won the full confidence of officers and ratings who affirmed their loyalty and vow to be willing, able and ready to keep the nation’s waters and resources therein safe and secure for national prosperity"

and vow to be willing, able and ready to keep the nation’s waters and resources therein safe and secure for national prosperity.

The New Platforms The Nigerian Navy recently inducted and commissioned a Hydrographic Survey Ship NNS LANA, Inshore Patrol Crafts (IPC) NNS ABA, NNS KANO, NNS IKENNE and NNS SOKOTO. Others are Fast Patrol Boats (FPB) NNS OSUN and Seaward Defence Boat III (SDB) NNS OJI. Additionally, NN312 helicopter was commissioned. In addition: 38 Sun craft Rigid Hull Inflatable Boats (RHIBs), 32 Paramount RHIBs, 22 Poly RHIBS, 11 SEWA Boats, 8 Epenal Boats, 4 Suncraft Manta Boats, 4 Falcon Boats and 2 Aresa Boats were also inducted into the inventory of the Nigerian Navy during the event.

Dignataries present were the Executive Governor of Lagos State, Mr Babajide Sanwo-Olu; the Executive Governor of Ogun State, Mr Dapo Abiodun, the Executive Governor of Ondo State, represented by his Deputy -Honourable Lucky Aiyedatiwa; the Senate President, represented by the Chairman Senate Committee on Navy, Senator George Sekibo; the Honourable Speaker of House of Representatives, represented by the Chairman House Committee on Defence – Honourable Babajimi Benson; Chairman House Committee on Navy, Honourable Yusuf Gagdi, Honourable Minister of Defence, Major General Salihi Magashi (rtd), His Royal Highness, the Emir of Kano, Alhaji Aminu Ado Bayero and His Royal Majesty, Oba of Lagos, represented by Oniru of Iruland, Oba Abdulwasiu Omogbolahan Lawal; Also in attendance were: the Chief of Defence Staff, Service Chiefs, Inspector General of Police, National President Naval Officers’ Wives Association and many serving/retired military/paramilitary senior officers as well as captain of industries.

The Nigerian Navy equipped with various operational sea and air assets including surveillance capabilities and well trained and motivated personnel is certainly one of Africa’s largest and powerful naval forces in the Gulf of Guinea (GoG).

TUESDAY, FEBRUARY 1, 2022 ˾ T H I S D AY

32

TRIBUTE Tony Momoh: One Year After Balarabe Oshiafi

O

n April 27, 1939, he came into this World. On February 1 2021, he left. Had he remained in this troubled World till the 27th of April 2021, he would have spent eighty two years. He had to leave lest he get contaminated by a Society that has demonstrated an enduring incapacity to be indoctrinated aright as much as Tony Momoh and his likes spent much of their lives trying to do.

Anthony Suleiman Macnonoh Momoh was the one hundred and sixty fifth Son of Momoh the first of Auchi Sacred Kingdom, Etsako-West Local Government Area of Edo State. If his father did exploits on account of the large family he nurtured and the moral rectitude he used Islam to bring upon Auchi and environs, Prince Tony Momoh’s dominant thoughts and actions achieved national and global impact.

Tony Momoh was a princely Prince. He was sure footed and his carriage exuded confidence. His writings and vocalisations were rather prophetic. Check out when he wooed his Wife ,Jane Momoh for Love and marriage and she was initially hesitant as it is typical of Women. On one occasion, just before he walked away, he said to the then pretty damsel, “I’m going to marry you and you will bear four Children for me”.

It didn’t happen otherwise Prince Tony Momoh married Mrs Jane Momoh and they spent nearly sixty years together before he left and the union produced four Children, Rashid, Suleman, Efua and Ibrahim.

Another case in point about his prophetic inclination was Muhammadu Buhari’s

Momoh

quest to be Nigeria’s Civilian President. The first opposition to Tony Momoh’s avowal to support Buhari was non other than his younger brother, Professor Campbell Shittu Momoh who elected to follow Chief Olusegun Obasanjo. Several other of his Kinsmen, Associates and contemporaries found Buhari a hard sell. But Tony Momoh was undeterred.

He came away with the conviction that Buhari had

“Tony Momoh was a princely Prince.

He was sure footed and his carriage exuded confidence.

His writings and vocalisations were rather prophetic.”

a program of emancipation for Nigeria and continued to market today’s President of Nigeria.

As the National Chairman of Congress for Progressive Change (CPC) Tony Momoh and his team garnered eleven million votes for Buhari in 2011 and just an addition of four million gave President Muhammadu Buhari his longed-for aspiration of achieving the status he is enjoying as Nigeria’s President today.

Tony Momoh’s contributions as an Auchi Prince, Lawyer, Journalist, Nationalist are as wide as they are pervasive. as ubiquitous as they are enduring.

He was as available at the national level as he was responsive to prevailing

circumstances in his home state-Edo. For instance when matters came to a head between Governor Godwin Obaseki and Comrade Adams Oshiomhole, they came to our office and Momoh brokered truce. They fell apart again because of greed and self aggrandizement.

Our last project: A publication entitled: To save Nigeria, Let’s Talk espouses among other contents the panacea for solving the maladies plaguing the Nigerian State.

I do not know how not to state that Aso Rock is disappointing Tony Momoh to the extent that the contents of that publication have not been activated and Nigeria is continuing to wobble.

So unforgettable are his “lLetters to my My Countrymen” while he served the Nation as Minister of Information and Culture that some compatriots still see him as the minister of information who brought government closest to the people. I differ here though.

If you ask me, I’d say Oga loved writing. Of all the Caps he wore, writing was his first love and he would tell you to make the pen your handy implement just like the farmer and the hoe.

On the fourth of April, 2018, I went to his Utako, Abuja Office to beseech him to get me a job. Pronto, he told me to consider myself hires as his Chief Press Secretary. I could not say no to fatherly Tony Momoh.

I miss you Sir. When will Auchi, Edo, Nigeria, the World encounter you again!

We are consoled by these words of yours: “There is no group Journey to Paradise” Adieu t #BMBSBCF 0TIJBm XBT UIF $IJFG 1SFTT 4FDSFUBSZ UP 1SJODF 5POZ .PNPI

T H I S D AY ˾ TUESDAY, FEBRUARY 1, 2022

33

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

J A N U A R Y

S & P INDEX

3 1 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OBB

9.00%

CALL

4%

INDEX LEVEL

564.02%

1/4 TO DATE

5.82%

N413.03/ 1 US DOLLAR*

OVERNIGHT

10.75%

1-MONTH

6%

1-DAY

–0.17%

YEAR TO DATE

– 15.85%

*AS AT LAST FRIDAY

3-MONTH

10%

MONTH-TO-DATE

0.19%

Amid Rising Subsidy Payments, Decreasing Oil Production, NNPC Posts 78.4% Deficit Remittance to Federation Account in 2021 Contributes N542bn of projected N2.5trn

Emmanuel Addeh in Abuja With a whopping deficit of approximately N2 trillion out of its projected N2.511 trillion, the Nigerian National Petroleum Company (NNPC) Limited, was unable to remit roughly 80 per cent of its projected contribution to the Federation Account in 2021.

Data provided by the national oil company itself, showed that in the entire 12 months of the period under

review, the NNPC disbursed N542 billion as against the budgeted N2.511 trillion, given a monthly contribution forecast of N209.3 billion.

The N542 billion represents just about 21. 6 per cent of the total expected contribution of the company to the joint account operated by the federal government, states and local governments.

The development underscores how a combination of factors, including

declining oil production, rising subsidy payments and high oil production costs hobbled the organisation’s performance despite the increasing international oil prices which averaged $85 last year.

President Muhammadu Buhari last week backtracked on the planned full deregulation of the downstream sector, including the wholesale removal of petrol subsidy, citing the negative impact it would have on the poor and the vulnerable in the country.

For decades, Nigeria’s attempt to fully free the downstream oil and gas industry has met with a brick wall even as the latest effort has been pushed forward by about 18 months, effectively exempting the current administration which will exit by May 2023 of any burden.

The company’s revenue slump is also partly blamed in high production costs despite fresh initiatives by the industry to cut cost per barrel, regarded

as the highest in the world.

In spite of the much-talked-about initiatives, not much has been achieved in that respect as various costs are build into the process, including that of securing the oil assets.

In addition, the lack of synergy among operators, which practice independent wholesale procurement of operational facilities instead of agreeing on sharing arrangements have contributed to the ineffectiveness of

cost reduction strategies in the industry.

The latest information presented by the NNPC during its January 2022 Federation Account Allocation Committee (FAAC) meeting indicated that total deductions for petrol subsidy or what the government terms under-recovery was about N1.43 trillion for the year.

Aside April 2021 when the NNPC contributed nothing to the Federation Continued on page 34

‘Nigeria Can Earn $200m, Create 2 million Jobs Annually from Agro Commodity Expansion Project’ Gilbert Ekugbe The National President of the Federation of Agricultural Commodity Association of Nigeria (FACAN), Dr. Victor Iyama, has said that Nigeria could earn over $200 million (94 billion) yearly from the Agricultural Commodity Value

Chain Expansion Project (ACVEP).

Iyama also added that the project would benefit the agricultural sector by creating over two million jobs for young Nigerians in the areas of logistics, processing, supply chain management, agriculture extension services, and establishment of new agriculture produce aggregation

centre when fully operational.

In a chat with newsmen, he stated that the project covered insurance, transportation and health and could take Nigerians out of poverty.

“It is about food security, sufficiency and can take care of our foreign exchange earnings. Three

FOOD NAME OF COMMODITY

MAIZE

COMMODITIES

LOCATION

PRICE

NAME OF COMMODITY

100KG JIGAWA

N9000

SORGHUM

100KG ENUGU

N24000

100KG DELTA

N15000

SIZE

100KG

ABIA

N14000

50KG

LAGOS

N13500

commodities alone can earn the country more revenues than oil,” Iyamu said.

On his part, the President of the Information Marketing and Management Institute (IMMI), Mr. Ekenechukwu Aloefuna, said the project was conceived to expand commodity trade through the

SIZE

PRICE

STATE

100KG JIGAWA

implementation of agricultural research outputs, innovative best practices and multiple channel financing.

According to him, the project would strengthen the deployment of digital innovations in creating farmers’ databases, farm mapping, space technology-based farm

monitoring, forecast reporting, flood and environmental impact mitigation.

ACVEP is an initiative of the IMMI in collaboration with FACAN to build strategic synergy with innovations and technologies for the transformation of Nigeria’s agricultural commodity sector.

T O D AY

PRICE

NAME OF COMMODITY

SIZE

STATE

N9,000

TOMATOES

40KG

BENUE

N15,000

40KG

KADUNA

N5,000

40KG

ABIA

N18,000

25KG

LAGOS

N9,500

40KG

DELTA

N17000

100KG

BENUE

N8,500

100KG

KADUNA

N8,500

50KG

ENUGU

N23,000

50KG

LAGOS

N17,000

100KG

DELTA

N23,000

PRICE

34

TUESDAY, FEBRUARY 1, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

Report: Energy Transition Attracted Record $755bn Investments in 2021 Emmanuel Addeh in Abuja Global spending on the transition to low-carbon energy rose by more than a quarter in 2021, driven by the electric vehicle and renewable power sectors to hit $755 billion.

Total investment jumped 27 per cent from a year earlier, according to a new report from Bloomberg

New Energy Finance (BNEF) with the record-breaking figures showing how strong investor appetite is for technologies key to preventing the worst effects of global warming.

However, spending must ramp up significantly to reach net-zero carbon emissions by the middle of the century, the report said.

The report estimated that $2.1

trillion of investment is needed in the energy transition from 2022-25, nearly three times last year’s level.

The figures include spending on renewable electricity, electrified heat, energy storage and nuclear power.

“Across all regions we need to see much more investment,” said Albert Cheung, head of analysis

at BNEF. “You’re going to have to see a huge uplift and that’s going to have to be driven by government policy.”

The biggest share of spending in 2021 went to new renewable energy projects, such as wind farms and solar parks. The sector attracted $366 billion, up 6.5 per cent from a year earlier, most of which was

concentrated in Asia.

In the Americas, Europe, the Middle East and Africa, investment in renewables was flat compared to 2020.

Renewable energy capacity will need to grow rapidly to provide enough clean power to not only displace fossil fuels from the world’s electric grids, but also

support new sources of demand from electric vehicles, it stated.

Investment in electrified transportation, including vehicles and supporting infrastructure, rose 77 per cent in 2021 to $273 billion. This year, BNEF expects that figure to rise even further, surpassing the amount spent on renewable energy.

‘Rising Oil Prices Could Trigger $500bn in Stranded Assets’ Emmanuel Addeh in Abuja Major oil companies could get caught in a stranded asset trap worth as much as $500 billion if the current high oil prices tempt them to invest massively in hydrocarbons, environmental think tank, Carbon Tracker, has said.

In a report, the organisation warned that spike in demand and prices could be short-lived, seeing freshly sanctioned megaprojects coming online just as demand starts to fall.

The climate finance think tank warned that the recent rebound in oil prices could lure international

oil giants into spending billions on new projects that could quickly become stranded assets.

It cautioned under its “high investment” scenario that companies sanctioning projects based on a breakeven price of up to $60 per barrel could risk some $500 billion worth of investment becoming trapped.

The financial analyst group said that if oil prices fall to an average of $40 per barrel after 2026, some $530 billion of investment would be squandered on hydrocarbon developments that were “no longer commercial” under the “high investment” case.

However, it added that a $40

per barrel price assumption is conservative, adding an oil price of under $30 per barrel could see upwards of $1 trillion of investment being wasted.

Although a breakeven price of $60 per barrel would initially help meet short-term oil demand up to 2026, but it warned that these projects would hit peak output “just as demand starts to decline significantly”, triggering “heavily oversupplied market prices to plummet and high-cost projects to risk becoming stranded”.

The Carbon Tracker report spotlighted a number of potentially exposed big-ticket oil and gas developments that rely on

breakeven oil prices of over $50 per barrel, but will only start producing late this decade.

These include: Kuwait Petroleum’s $7.5 billion Lower Fars heavy oil project in Kuwait; ExxonMobil and Shell’s $6.7 billion Bosi project in Nigeria; Petrobras, Shell and Galp’s $3.1 billion Tupi project in Brazil; and ExxonMobil, Equinor, Galp and Sinopec’s $3 billion Bacalhau project in Brazil.

“Companies may see high prices as a huge neon sign pointing towards investment in more supply.

“However, this could become a nightmare scenario if they go ahead with projects which deliver oil around the time that demand

starts to decline. Shareholders could face catastrophic levels of value destruction as prices fall,” the report noted.

It further warned that short-term demand growth could see even greater reductions in a bid to keep the goals of the Paris Agreement alive and limit global temperature rises.

“Companies basing sanctioning decisions on bullish short-term signals thus risk significant overinvestment, seriously impacting shareholder value. It wouldn’t be the first time that the industry has fallen into this trap,” it added.

According to the report: “Surging oil prices may tempt oil and gas

companies to make long-term investment decisions that cost shareholders dearly, but a cautious managed approach to the energy transition would do most to preserve shareholder value and help society achieve climate goals.”

But it added that the rising costs of raw materials have already begun to affect the renewable energy and EV industry, making their products costlier and reducing the number of people willing to switch to a lower-carbon alternative to fossil fuels.

It has also jeopardized the progress of the energy transition, according to the analysts, raising the price tag substantially.

Air Travel: Surveyor General’s Office, NAMA Collaborate to Produce Safety Charts Emmanuel Addeh in Abuja The Office of the Surveyor General of the Federation (OSGoF) is to synergise with the Nigerian Airspace Management Agency (NAMA) to produce charts, which will enhance the safety and security of air travels in Nigeria.

Surveyor General of the Federation (SGoF), Abdulganiyu Adebomehin made the assertion in a meeting at the Survey House, Abuja when a three-man delegation from NAMA visited him in his office.

He stressed the need for surveyors from OSGoF that would

work together with the technical staff of NAMA to see it as national assignment, the task of producing charts and maps that would guarantee safety and security of aircraft and their passengers.

Adebomehin noted that his office has the capacity to provide the best charts and maps, which would also be made available to stakeholders for improved Internally Generated Revenue (IGR) for the Nigerian government.

Expressing concerns over the huge financial demands on the government by various sectors of the economy, he added that his office would as well provide geospatial

services to discourage unnecessary financial outflows.

The leader of the NAMA delegation, Asifat Badmus, a Deputy General Manager explained that the Visual Flight Rules (VFR) are important for the safety of lives and for flights.

The DGM pointed out that the VFR charts would guide, provide directions, locations and to quickly identify hills and mountains, bodies of water and other physical features for easy navigation.

Badmus said as the apex surveying and mapping institution of the country, the surveyor general’s office would always be required to provide

the base and positioning for better air traffic services.

NAMA, according to him needs updated topographical maps and charts as well as the data from OSGoF to function.

“Collaboration with OSGoF would help NAMA provide charts that would meet the International Civil Aviation (ICAO) standards that would be accepted worldwide,” he said.

The Surveyor General thereafter designated Azeez Afeez, Izuegbu Uju and . Alamu Samsudeen to work with the NAMA technical team for the production of the required enhancement for air services.

Meanwhile, Adebomehin has said that some of the most developed countries of the world place high premium on the use of geospatial data and maps for planning and implementation.

He spoke while playing host to the Chairman of the Nigerian Institution of Surveyors (NIS), Abiodun Alonge who led the Chairman of the Association of Private Practicing Surveyors of Nigeria (APPSN), Solomon Olutokun with fresh officials of the FCT chapter to the Survey House in Abuja.

He called for the engagement of qualified surveyors in every stage of ongoing projects in the Federal

Capital Territory (FCT) for seamless improvement and durability of projects.

Adebomehin observed that Abuja was still in its initial stages of development and would require requisite geospatial inputs to achieve the desirable physical infrastructural arrangements and expansion for the entire Abuja.

According to him, there would be need for the surveying of the entire Abuja for effective monitoring of violation against the master plan of the country’s capital and other inimical activities that may frustrate the developmental efforts of the government.

AMID RISING SUBSIDY PAYMENTS, DECREASING OIL PRODUCTION, NNPC POSTS 78.4% DEFICIT REMITTANCE TO FEDERATION ACCOUNT IN 2021 Account, October, November and December were the worst months for the country as the company only remitted a paltry N14.8 billion, N10.54 billion and N20 billion in the months respectively.

The November remittance represents 8.5 per cent of its projection for that month, being the second least payment for the year, just behind October.

The FAAC committee comprises the minister of finance, who chairs the body, all state commissioners of finance and accountants-general, accountant–general of the federation and permanent secretary of the ministry of finance.

The NNPC has been struggling with production capacity, pumping less than 1.3 million barrels of crude oil daily against its projected 1.8 million barrels per day, on the back of dilapidating upstream infrastructure owing to ageing assets and years of under-investment.

It wasn’t clear how the authorities augmented the shortfall for the entire

period the NNPC remitted very meagre sums, but in December, the three tiers of government shared N675.946 billion as FAAC revenue for the month of November while in January, it shared almost N700 billion.

A communiqué issued at the end of a virtual meeting of FAAC for December 2021 stated that the N675.946 billion total distributable revenue comprised statutory revenue of N488.674 billion; distributable Value Added Tax (VAT) revenue of N182.678 billion, exchange gain of N4.156 billion and excess bank charges recovery of N0.438 billion.

Under the current sharing arrangement, the federal government takes 52.68 per cent of the revenue shared, states get 26.72 per cent while the local governments get 20.60 per cent.

But for December (shared in January) the N699.824 billion total distributable revenue comprised distributable statutory revenue of N507.267 billion; distributable VAT revenue of N187.409 billion and Exchange Gain of N5.148 billion.

A review of the figures released by the NNPC during the January FAAC presentation showed that in majority of the months between January and December, the company was barely able to meet its obligation to the federation.

In January, the national oil company paid N90.8 billion of the total projection; in February it remitted N64.16 billion and in March, the NNPC paid N41.1 billion into the federation account.

But in April, it paid nothing to the three tiers of government; in May it was N38.608 billion; in June it paid N47.16 billion while in the month of July it remitted N67.2 billion.

Things appeared to be looking up in August when the NNPC remitted N80 billion to the joint account, but it fell again to N67.533 billion in September, before slumping to N14.85 billion in October and finally hitting a low of N10.54 billion in November, before its N20 billion payment in December.

Although the mandatory cuts imposed by the Organisation of

FOOD NAME OF COMMODITY

PALM OIL

SIZE

STATE

PRICE

25CL LAGOS N20,000-N25000 25CL

PH

N21,000-24,000

NAME OF COMMODITY

RICE

COMMODITIES SIZE

25CL

IMO

N21,000–N24,500

25CL

EDO

N17,000–N20,000

STATE

PRICE

100KG ABUJA N23,000–N25,000 50KG 50KG

25CL IBADAN N18,000-N22,000

OYO

50KG KWARA N24,000–N27,000 50KG

PRICE

NAME OF COMMODITY

COCOA

LAGOS N23,000–N26,500

50KG

EDO

N17,000–N20,000

for neighbouring countries where the product are smuggled into.

On November 23, 2021, the Group Managing Director of NNPC, Mallam Mele Kyari, projected that petrol will sell for between N320 and N340 per litre from February, this year if the federal government began full deregulation of the downstream as prescribed by the Petroleum Industry Act (PIA).

The continuous decline in the remittances from NNPC to the federation account means that the states will have lesser amount to share amongst themselves.

Most of the states in the country are very much dependent on the statutory allocations from the federal purse, as their Internally Generated Revenue (IGR) remain insignificant compared to their expenses.

Last week, the NNPC requested a total of N3 trillion from the federal government to fund fuel subsidy in 2022 after the current administration suspended its plan to remove the monthly under-recovery.

T O D AY PRICE

NAME OF COMMODITY

SIZE

STATE

PRICE

1 TON ONDO

N740,000 – N760,000

ONIONS

100KG

IBADAN

N25,000

100KG

KANO

N10,000

1 TON OSUN

N730,000 – N750,000

100KG

BENUE

N27,000

100KG GOMBE

N12,000

100KG DELTA

N21,000

100KG LAGOS

N25,000

100KG ENUGU

N15,000

100KG

N29,000

SIZE

1 TON

STATE

EDO

1 TON CROSS RIVER

50KG SOKOTO N11,500–N13,000

N19500- N25000

while June came next with N164.3 billion. In July, the document stated that N103.2 billion was spent on what the government terms under-recovery.

Hitherto, August had the year’s lion’s share of N173.1 billion but was overtaken by the deduction in November of N200 billion, while September’s deduction stood at N149.28 billion and the October figure was N163.709 billion, before the N270 billion removed in January.

In June last, the NNPC told the nation that Nigeria was losing about 42 million litres of petrol to the activities of smugglers across the country’s borders, increasing Nigeria’s estimated daily consumption of 60 million litres to 103 million litres, thereby worsening the subsidy payment regime.

Nigeria has not been able to reap the full benefits of rising international oil prices because it doesn’t refine a drop of the fuel it consumes locally.

This means that almost all the revenues from sales are spent importing petrol and paying subsidies, even

N22,000-N25,000

PLATEAU N23,500-N25,000 (JOS)

50KG RIVERS N23,000–N26,500

25CL ABUJA

Petroleum Exporting Countries (OPEC), last year initially played a role in the inability of the NNPC to meet its obligation to the federation, the country has now been unable to meet its allocation for months.

This has further reduced its total crude oil export, coupled with the subsidy problem for which the NNPC deducted N200 billion in December and netted off another N270 billion

by January 2022.

THISDAY analysis of the document detailing the presentation of the national oil company to FAAC in December, for instance, indicated that the N270 billion was the highest amount deducted by the NNPC since it resumed payment of petroleum subsidies in February this year.

A breakdown of the various subsidy deductions indicated that payments have increased progressively, growing from N24.3 billion in February to N60.3 billion in March and N61.9 billion in April this year.

Furthermore, in May, the NNPC removed N126 billion as subsidy,

1 TON

AKURE SOUTH, ONDO

N720,000 – N740,000 N700,000 – N720,000 N730,000 — N755,000

ABIA

T H I S D AY ˾ TUESDAY, FEBRUARY 1, 2022

35

BUSINESSWORLD

ENERGY

Power: A Sector in Search of Rescue Nigeria’s power sector has continued to gasp for breath despite numerous attempts to reposition it for optimal performance. The situation has resulted in darkness all over the country as over 85 per cent of Nigeria’s population still lack access to or enjoy quality electricity. However, to rescue the sector from this ugly trajectory, there is need for a holistic approach driven by political will, patriotism, service excellence, as well as technical and financial competence, Peter Uzoho writes

D

espite the tinkering of the Nigerian power sector with the coming on board of private owners and operators in the generation and distribution segments in 2013, Nigerians are still grappling with power outages and lack of access to electricity.

All over the country, darkness reigns. But electricity bills keep ballooning even when consumers don’t get quality electricity. Not even the huge expectation that heralded the advent of the new power firms has been able to propel the companies, especially the distribution companies (Discos), to be serious in their service to the Nigerian people.

The nation’s power sector has continued to underperform at all fronts, whether in generation, transmission and distribution, with the situation blamed on several factors.

Currently, Nigeria generates an average of 8000 megawatts (mw) of electricity out of the installed 13,800mw capacity. The country through the transmission Company of Nigeria (TCN), manages to transmit an average of 5000mw, while distribution stands abysmally low at around 2,500mw.

Some of the factors associated with the poor power supply in Nigeria include the inability of the federal government to effectively coordinate and align the different facets of the sector to achieve the common goal of giving quality electricity to Nigerians.

The government is also being blamed by the power firms for not keeping to its part of the agreement signed with them during the privatisation.

One of such is that the sector must be allowed to operate on a cost-reflective tariff basis, and that generation companies (Gencos) shall be paid based on the amount of power they generate.

Also, the TCN, which is still own 100 per cent by the federal government, has refused to upgrade its transmission lines, which have been in decrepit state for decades. As a result, the state-owned company only transmits an average of 5000mw of power generated.

However, the distribution companies (Discos) on their part, have failed in their responsibility. They have not invested

enough to upgrade their distribution infrastructure, and this accounts largely to the constant power outages and darkness experienced all over the country.

Most of their transformers, which have been in existence since the era of the defunct National Electric Power Authority (NEPA) have been left without maintenance.

The Discos, which are the nearest to the consumers and known as the weakest link in the entire value chain, have equally been blamed for reneging on their promise to get all the electricity consumers metered with prepaid meters within three to five years of their entrance into the space.

As at November 30, 2021, 8,181,086, representing 64 per cent of the total 12,848,084 electricity customers are yet to be connected with electricity meters, according to the industry’s regulator, the Nigerian Electricity Regulatory Commission (NERC). Only 4.666,998 customers, representing 36 per cent had been successfully metered, NERC added.

The government had launched three different metering programmes including Credit Advanced Payment for Metering Implementation (CAPMI) in 2013, Meter Asset Provider (MAP) scheme in 2018, and the latest National Mass Metering Programme (NMMP) in 2020 but the metering gap remains wide.

The inability to meter a substantial number of the electricity customers has in no small measure, contributed to the liquidity crisis and trust deficit in the power sector, as the sector continues suffering huge commercial losses.

It has given rise to the over-billing of consumers through the monstrous estimated billing even when the consumers barely enjoy electricity to warrant such outrageous bills.

NEED FOR REVOLUTION In his analysis of the crisis in the sector, Managing Director of Ibom Power Company Limited, one of the Independent Power Plants (IPPs), Mr. Meyen Etukudo, believed that fixing the nation’s power problem is not a

rocket science, adding that it calls for a revolution.

Etukudo opined that a serious government, whose eyes is set on transforming the sector because of its importance to the country’s economy, will go all out to achieve that, no matter what it would cost.

At the heart of such undertaking, according to him, lies the will of the leaders, the competence of policy makers and operators in the sector as well as the commitment to excellence service delivery.

Sadly, one of the bane of the Nigeria’s power sector has been the trend of allowing people who know little or nothing about the operations of the electricity industry to take decisions and implement.

Even among the so-called power firms, especially the Discos, non-core professionals are employed to work in highly technical areas meant for experienced electrical and electronics engineers.

Etukudo, who retired in NEPA as a general manager in charge of lines, revealed that the Discos now employ “aged bankers” with no knowledge of how the transformer works to be maintaining transformers.

“The problem is, you know, when NEPA gave way to PHCN and PHCN gave way to the 18 companies, the new companies thought it was just to buy bread and sell. They didn’t know they will invest in the business first before making money.

“And the trend now is that most of the distribution companies are employing aged bankers to go and be maintaining the systems. So, for them, it is to collect bills whether you have power or not.

“Definitely, this country can get power if somebody that has an absolute power and authority to implement electric power policies. But nobody is interested in putting anything right,” he said.

NETWORKS LACKING MAINTENANCE Stressing the importance of maintaining electricity networks infrastructure

like transformers, transmissions and distribution lines, among others, the power expert expressed disappointment over the disappearance of maintenance culture in the system.

He said: “If you go round the country, you will see that the substations are untidy, unkempt, grasses everywhere and the feeder pillar is always open. At nights, you will see the red lights because the fuses are all red due to over-loaded transformers.

“These days, you see poles falling, some standing akimbo. You see some conductors hanging, all cross-arms have been broken.

That was not the NEPA that we had in this country.”

He said by professional standard, “No transformer is supposed to be loaded over 85 per cent of its capacity. If it is 300kva, it is not supposed to exceed 85 per cent of that. But our transformers are loaded above 100 per cent because these companies have not brought in one new transformer.”

He added: “So, all our feeder pillars are over-loaded with red. They are open, no single one is closed except you go to companies. All transformers are over-loaded, blown and these people don’t know what they call maintenance “Maintenance means, when you install a transformer, even within one year, you do what they call preventive maintenance or routine maintenance, where you go there, they take out the oil, may be in a bottle, to go and test to know whether the viscosity is there.”

Etukudo maintained that some transformers in Nigeria had been left for years without testing the oil, pointing out that the Discos only visit a transformer when it blows up.

Insisting that solving Nigeria’s power problem needs will power, Etukudo declared that he has the magic wand to give Nigerians electricity, adding “everywhere, all over the country is dark but there is power. The Discos don’t give power to the people”.

He, however disagreed on the advocacy for decentralising the national grid, saying “that is not really the main issue”.

He cited India as a country that has a state grid like Nigeria and are doing well with their power sector, as they generate power from several places but still come to the national end to send power across.

36

TUESDAY, FEBRUARY 1, 2022 ˾ T H I S D AY

BUSINESSWORLD

OIL & GAS

Lee Engineering’s Sustained Quest to Transform Nigeria’s Oil and Gas Industry Since the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, Lee Engineering and Construction Company Limited, has sustained its efforts to transform the industry into equipment fabrication hub, writes Peter Uzoho

Pressure Vessel being fabricated by Lee Engineering

Pressure Vessel fabricated by Lee Engineering

A

good number of indigenous firms in Nigeria’s oil and gas sector have shown commitment to harnessing the opportunities offered by the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act established in 2010.

The implementation of the Act has brought about huge improvement in capacity development with some local players now pioneering in areas hitherto in the prerogatives of foreign firms.

Consequently, committed entrepreneurs are now striving into various aspects of the industry to provide excellent services, hence paving the way for growth and development.

In this regard, Lee Engineering and Construction Company Limited, an Engineering, Procurement, Construction, Operation and Maintenance (EPCOM) firm has not only shown outstanding feat but set to take the central stage in industrial equipment manufacturing.

Encouraged by the Local Content Act and invaluable support from the Nigerian Content Development and Monitoring Board (NCDMB), the firm committed over $100 million into the construction of fabrication yard in a land covering about 10,000 square metres in Warri, Delta State, its operational base.

The project, which is due for commissioning before the end of March, will guarantee the fabrication of any equipment required in the oil and gas industry locally and in Africa.

Speaking to journalist during a guided tour of the facility, which is said to be 90 per cent completed, Chairman/Chief Executive Officer (CEO), Lee Engineering and Construction Company, Dr. Leemon Ikpea said, when commissioned the factory would serve as a hub for local manufacturing of various equipment for use in the oil and gas sector and beyond.

He noted that: “Presently, all manners of steel fabricating machines have been installed while Nigerians with the necessary expertise operating them perfectly.”

Narrating how he came about the idea, Ikpea said it dates back to the 1980s when he worked as an administrator in the sector, specifically at the Warri Refinery and Petrochemical Company Limited, (WRPC).

He said while working as a manager at Snamprojettif, a contracting firm servicing the WRPC, he saw the potentials of Nigerian skilled workers and realised that it could be enhanced for the good of all.

“When I was a manager I did not just sit down in my office. I took time to understand how the company operated; in that time, I noticed that many Nigerians were performing various tasks as electricians, welders and so on. The foreigners were mostly there as supervisors.

There were many skilled Nigerian workers

Leemon Ikpea around,” he explained.

The wisdom of capitalising on available potential drove Ikpea into incorporating Lee Engineering and Construction Company in 1991. Thirty years after, the firm has established itself as a major player in her core concept of engineering, procurement, construction, operation and maintenance (EPCOM) and is venturing into industrial equipment fabrication.

Ikpea and his team of young but enterprising members of staff are not new comers in fabrication, as they have in the past years proven their competence.

Testifying to the firm’s efficiency in job execution, Shell Petroleum Development Company (SPDC) had commented on Lee Engineering’s performance in the execution of its Utorogu gas plant, in Delta state.

“As much as possible, SPDC employs Nigerian companies and workers to execute projects. In the case of Utorogu, Lee Engineering and Construction Company Limited – a Nigerian company – won the main contract that carried out the design, procurement and construction work required to upgrade the Utorogu plant.

“A large proportion of the heavy equipment used to connect the gas wells to the gas plants was built in Nigeria and much of the construction materials and supplies including power cables, cable trays and accessories, paint and civil infrastructure materials were locally manufactured,” said SPDC.

Storage Tank fabricated by Lee Engineering

Ikpea confirmed that the materials used for the job were fabricated in his factory in Warri. He stated that having executed such high profile jobs including the building of the Port Harcourt Refinery jetty, and currently involved the fabrication of two modular refinery factories, his company was set to expand the frontier of industrial equipment fabrication in Nigeria and Africa in general.

The company’s unwavering commitment to make Nigeria to serve as a hub for local manufacturing of various equipment is worthy of commendation. The company currently provides job for over 2,000 people.

Its efforts have multiplier effects on the economy in terms of reducing the burden on foreign exchange, infrastructure growth and development, additional job creation, income to government coffers in terms of taxes and levies, reduction in port congestion, reduction in man/hour wastag.

To encourage companies like Lee Engineering,the federal government should make it mandatory for the OICs to patronise the local players.

Speaking on why he embarked on the multi-million dollar fabrication plant project, Ikpea said: “Our mission is to produce high quality, reliable and durable products, through competent workforce and technology, within regulatory laws. We intend to change the existing orientation of clients procuring similar components abroad with scarce hard currency and, in the process boost national economy and reduce procurement lead time.

“If you look around the oil and gas sector, most production is done outside the shores of this country and if we fold our hands and wait for government, foreign firms and partners to transfer technology to this country, I don’t see that happening.

Considering the market situation, if they transfer technology to you, the question to ask will be: who will be buying from them?” he queried.

Prior to the pre-commissioning era, Lee Engineering had entered into critical partnership with foreign equipment manufacturing companies who supplied the machines to be used for the fabrication.

The relationship led to over 30 personnel of the company being sent abroad for on-the-spot training on how to install and operate the equipment.

To further ensure meeting global standard requirement, Ikpea went for the factory acceptance test in Europe and is currently waiting for the project to be fully completed, before it is test-run and finally be commissioned by President Muhammadu Buhari.

A Senior Supervisor, Mr. Osere Damian,

who spoke with journalists, said over 10 persons in his department had attended overseas training in the last 10 years in preparation for the full take-off of the project.

He listed some key oil and gas products the plant will be fabricating and manufactured to include high pressure vessels, heat exchangers, water bath heaters, glycol, skids, scrubbers, process modules, storage tanks/Columns and flare systems.

Other items are: Drums, piping spools, enclosures, gas cylinders, flanges, among others.

He also disclosed that when fully operational, the plant can fabricate all equipment required for establishing a refinery.

Also speaking to journalists, the Supervisory Manager, Quality Control and Standards (QAIQC), Mr. Akporhuarho Fidelis, said the company does not take keeping to standard for granted.

“We test every product and make such they keep to customers specifications and international standard requirements,” he added.

Though President Buhari is yet to visit the factory site, the Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo, had visited the factory and pledged federal government’s support.

Addressing the media after a round of inspection, the minister stated that “the equipment that are made here are to facilitate the production of crude oil and gas, a lot of the equipment being used presently are being imported from abroad. By the time this factory is completed, a lot of the things that we import will not need to be imported anymore, they will be locally manufactured here at Lee engineering”.

Speaking on the expectations of the federal government, the minister said: “We are interested in Nigerians being employed and from what I see right now, even though the equipment are not all here yet, they have already sent young Nigerians abroad for training and they still intend to send more, so this is something we are very happy about”.

“President Muhammadu Buhari had promised to get 100million Nigerians out of poverty over the next 10 years; one of the ways this could be achieved is by encouraging industrialists to create new industries and to expand the ones they have to enable them employ more people… By the time the factory is completed next year, the nature of its specialisation would create a situation where the country won’t have to import anymore and even people abroad can come and buy from here,” the minister explained.

To actualise such lofty objectives, the federal government should put the right policies in place to encourage patronage of indigenous firms like Lee Engineering. The IOCs and other stakeholders in the industry should be discouraged from importing products that can be fabricated locally.

TUESDAY FEBRUARY 1, 2022 • T H I S D AY

37

38

TUESDAY FEBRUARY 1, 2022 • T H I S D AY

39

TUESDAY, ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

Tuesday, February 1, 2022

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ŽǁŶ ϲ͘Ϭй dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ϲ͘Ϭй ƚŽ ƉƌŝŶƚ Ăƚ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ϭ͕ϴϴϱ͘ϳϮ ƉŽŝŶƚƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ůŽƐƐĞƐ ŝŶ & E, ;Ͳϯ͘ϴйͿ͕ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ d/ ;Ͳϰ͘ϲйͿ͕ ĂŶĚ /Ed ZE d/KE > Z t Z/ ^ ;Ͳϯ͘ϰйͿ͘

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϲ͘Ϯй ŽĨ ƚŚĞ ŝŶͲ Current Price

Ticker

ĚĞdž͘

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

Custodian and Allied Insur 1885.72 1

WƌĞǀŝŽƵƐ ĚĂLJ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ dŚĞ ƵůůƐ KƉĞŶ ƚŚĞ tĞĞŬ͘​͘​͘ ^/ ƵƉ Ϭ͘ϵй

Previous Price Current Price Change W eighting Change YTD

-5.99%

1,271.00

Airtel Africa PLC

Price Change Index to Date

ROE

ROA

1.7%

88.6%

15.0%

3.5%

0.0%

38.6%

33.1%

33.1%

14.7%

5.2%

P/E

5.6x

P/BV

0.8x

2

MTN Nigeria Communications PLC

197.50

3.9%

7.8%

0.3%

0.3%

134.7%

14.1%

13.5x

20.8x

BUA Cement Plc

70.75

1.1%

6.8%

5.5%

5.5%

19.1%

11.2%

34.0x

6.4x

zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ŽƉĞŶĞĚ ƚƌĂĚŝŶŐ ĨŽƌ ƚŚĞ

4

Guaranty Trust Holding Co PLC

26.90

4.9%

6.4%

3.5%

3.5%

24.8%

3.9%

4.1x

5

Zenith Bank PLC

ǁĞĞŬ ŽŶ Ă ƉŽƐŝƟǀĞ ŶŽƚĞ͕ ĚƵĞ ƚŽ ŐĂŝŶƐ ŝŶ DdEE

6

Dangote Cement PLC

7

Nestle Nigeria PLC

8 9

ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ^ŚĂƌĞ

ŝŶĚĞdž

ƌŽƐĞ

ďLJ

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ŽŶƐĞƋƵĞŶƚůLJ͕ ƚŚĞ ǁŚŝůĞ E'yͲ ^/ ƌŽƐĞ Ϭ͘ϵй ƚŽ ϰϲ͕ϲϮϰ͘ϲϳ ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϵ͘ϭй ĂŶĚ ŵĂƌŬĞƚ േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ ĐĂƉŝƚĂůŝƐĂƟŽŶ ŝŶĐƌĞĂƐĞĚ േϮϮϲ͘ϭďŶ ƚŽ േϮϱ͘ϭƚŶ͘ sŽůƵŵĞ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ĂĚǀĂŶĐĞĚ ϯϵ͘Ϭй ƚŽ ϰϯϱ͘ϴŵ ƵŶŝƚƐ ƚƌĂĚĞĚ ǁŚŝůĞ ƐƚŽĐŬƐ ǀĂůƵĞ ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ϯϭ͘ϳй ƚŽ േϯ͘ϰďŶ͘ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

ĂƐ ϰ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ ǁŚŝůĞ Ϯ ĚĞĐůŝŶĞĚ͘ dŚĞ &ZͲ/ d ĂŶĚ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ

/ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ /ŶĚŝĐĞƐ ůĞĚ ŐĂŝŶĞƌƐ͕ ƵƉ ϭ͘ϴй ĂŶĚ Ϭ͘ϱй ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d

3.6%

20.9%

2.8%

3.5x

0.7x

11.6%

28.3%

1.4%

1.4%

40.4%

16.7%

13.0x

5.0x

6.1%

7.7%

1,435.00

0.0%

3.1%

-7.8%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

FBN Holdings Plc

11.50

-3.8%

3.2%

0.9%

0.9%

8.4%

0.8%

6.8x

0.6x

3.9%

14.7%

Lafarge Africa PLC

25.60

0.0%

3.3%

6.9%

6.9%

11.6%

8.4%

9.6x

1.1x

3.8%

10.4%

9.90

0.5%

2.7%

6.5%

6.5%

17.0%

1.4%

2.8x

0.4x

8.5%

36.0%

10 Access Bank PLC 11 United Bank for Africa PLC

8.60

1.8%

2.2%

6.8%

6.8%

19.5%

1.8%

2.2x

0.4x

6.4%

46.3%

12 Stanbic IBTC Holdings PLC

35.75

0.0%

1.5%

-0.7%

-0.7%

15.1%

2.1%

8.0x

1.3x

11.4%

12.4% 2.2%

13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC 15 Ecobank Transnational Inc 16 International Brew eries PLC

ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘ ƉƌĞƐƐƵƌĞ ŽŶ >/E< ^^hZ ;Ͳϳ͘ϴйͿ͕ D E &/d ;Ͳϳ͘ϭйͿ͕ Ğƌ͕

ƵƉ

ϭ͘ϴй

ĚƌŝǀĞŶ

ďLJ

ƉƌŝĐĞ

1.5%

-3.1%

-3.1%

5.3%

1.9%

44.7x

2.3x

2.3%

0.0%

1.8%

21.5%

21.5%

3.4%

1.9%

18.1x

0.7x

5.2%

12.50

-4.6%

1.8%

43.7%

43.7%

1.2%

15.2%

15.2%

-10.3%

-3.9%

1.0%

0.0%

0.0%

36.5%

23.3%

9.6x

3.2x

28.55

0.0%

0.9%

0.7%

0.7%

15.9%

4.5%

4.4x

0.7x

19 Fidelity Bank PLC

2.81

3.3%

0.6%

10.2%

10.2%

13.3%

1.3%

2.1x

0.3x

7.9%

46.8%

20 AXA Mansard Insurance PLC

2.35

0.0%

0.6%

1.3%

1.3%

9.3%

3.0%

7.2x

0.7x

9.4%

13.8%

21 Dangote Sugar Refinery PLC

17.50

0.3%

0.5%

0.6%

0.6%

15.3%

6.3%

11.5x

8.7%

3.13

3.0%

0.4%

4.7%

4.7%

10.3%

1.1%

23 United Capital PLC

11.00

0.5%

0.4%

11.1%

11.1%

24 Guinness Nigeria PLC

48.55

0.9%

0.4%

24.5%

24.5%

13.3%

6.0%

10.2x

1.3x

0.9%

9.8%

1.14

2.7%

0.4%

18.8%

18.8%

11.1%

2.3%

6.0x

0.6x

0.9%

16.5%

35.6%

18.5%

5.8x

0.9x

4.9%

17.4%

2.3x

1.1% 3.1%

25 Transnational Corp of Nigeria 26 NEM Insurance PLC

ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘

1.1x

-10.0% 10.4% 5.7%

1.7x

8.6%

0.3x

4.9%

2.5x

6.3%

3.69

5.7%

0.2%

-18.0%

-18.0%

96.55

10.0%

0.3%

10.0%

10.0%

28 NASCON Allied Industries PLC

13.10

-1.5%

0.3%

-0.8%

-0.8%

21.3%

6.9%

12.3x

2.5x

0.75

-1.3%

0.3%

7.1%

7.1%

7.2%

1.1%

416.7x

0.8x

241.00

0.0%

0.3%

8.6%

8.6%

48.0%

9.5%

4.9x

2.0x

1.7%

20.4%

7.80

9.9%

0.2%

-1.3%

-1.3%

24.7%

7.5%

4.6x

0.9x

7.1%

21.9%

32 Vitafoam Nigeria PLC

24.40

0.0%

0.2%

8.4%

8.4%

36.8%

14.7%

6.3x

2.4x

6.3%

16.0%

33 Unilever Nigeria PLC

14.00

0.0%

0.2%

-3.4%

-3.4%

-1.3%

-0.8%

31.1x

1.3x

34 Julius Berger Nigeria PLC

25.80

2.4%

0.2%

15.4%

15.4%

20.7%

2.5%

3.9x

0.8x

1.5%

25.6%

35 Union Bank of Nigeria PLC

6.00

0.0%

0.1%

1.7%

1.7%

7.1%

0.8%

6.8x

0.7x

4.2%

14.8%

36 Oando PLC

4.73

2.2%

0.0%

7.0%

7.0%

14.5%

2.6%

2.0x

0.3x

37 Wema Bank PLC

0.88

3.5%

0.1%

22.2%

22.2%

13.7%

0.8%

3.8x

0.5x

4.5%

38 Sterling Bank PLC

1.73

0.6%

0.1%

14.6%

14.6%

10.1%

0.9%

3.9x

0.4x

2.9%

62.50

0.0%

0.1%

0.0%

0.0%

-41.3%

-9.2%

5.38

0.0%

0.0%

0.0%

0.0%

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

3.2%

49.1%

2.3x

T o p 10 T r a d e s b y V o l u m e

T ic k er

Vo lum e

P ric e C hg %

P ric e C hg %

C H IP LC

0.66

10.0%

F ID ELIT YB K

38.0

3.3%

R T B R ISC OE

0.22

10.0%

R T B R ISC OE

30.0

10.0%

3.30

10.0%

T R A N SC OR P

27.4

2.7%

10.0%

FB NH

26.8

-3.8%

ǁĞĂŬĞŶĞĚ ƚŽ Ϭ͘Ϯdž ĨƌŽŵ Ϭ͘ϲdž ĂƐ ϯϯ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ Ϯϯ

N GXGR OUP

23.25

9.9%

LIN KA SSUR E

23.0

-7.8%

C UST OD IA N

7.80

9.9%

UB A

21.4

1.8%

ůŽƐƚ ǁŚŝůĞ ϭϬϵ ǁĞƌĞ ƵŶĐŚĂŶŐĞĚ͘ dŽĚĂLJ͕ ǁĞ ĂŶƟĐŝƉĂƚĞ

N EM

3.69

5.7%

N GXGR OUP

20.7

9.9%

A F R IP R UD

6.90

5.3%

A IIC O

18.0

-1.3%

GLA XOSM IT H

6.40

4.9%

Z EN IT H B A N K

17.5

1.2%

26.90

4.9%

C OUR T VILLE

16.9

-5.0%

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž

ĂŶ ĞdžƚĞŶĚĞĚ ďƵůůŝƐŚ ƌƵŶ ĂƐ ŵŽƌĞ ĐŽƌƉŽƌĂƚĞƐ ƌĞůĞĂƐĞ ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ƉŽƐŝƟǀĞ ĞĂƌŶŝŶŐƐ ƌĞƐƵůƚƐ͘ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

GT C O

ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

T ic k er

P ric e

UP L

2.40

LA SA C O

1.03

P ric e C hg % -9.4% -8.8%

LIN KA SSUR E

0.47

-7.8%

M B EN EF IT

0.26

-7.1%

P R EST IGE

0.43

-6.5%

F T N C OC OA

0.35

-5.4%

C OUR T VILLE

0.57

-5.0%

ET I

12.50

-4.6%

FB NH R OYA LEX

Afrinvest West Africa Limited

T o p 10 T r a d e s b y V a l u e

T o p 10 L o s e r s

< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ

11.50 0.80

25.7%

0.9x

96.55

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

26.1%

-20.3%

P R ESC O

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ

8.1% 0.2%

P ric e

NCR

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

22.9%

27 Presco PLC

T ic k er

KƵƚůŽŽŬ

5.5% 34.8%

0.0%

T o p 10 G a i n e r s

ĂƉƉƌĞĐŝĂͲ

2.9x

-3.4%

ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ĂŶĚ E/' Z/ E Z t Z/ ^ ;ͲϬ͘ϭйͿ͘

-0.1%

5.70

30 TotalEnergies Marketing Nigeri

ƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ĚŝƉƉĞĚ Ϭ͘Ϯй ĂƉŝĞĐĞ ĚƵĞ ƚŽ ƐĞůů ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ

48.45 790.00

142.00

31 Custodian and Allied Insurance

K E K ;нϮ͘ϮйͿ͘ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶƐƵƌĂŶĐĞ ĂŶĚ ŽŶͲ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

2.9%

3.6%

ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ

ĂĐĐŽƵŶƚ ŽĨ ŐĂŝŶƐ ŝŶ h ;нϭ͘ϴйͿ͕ E/d, ;нϭ͘ϮйͿ͕ ĂŶĚ ϵ͘ϭйͿ͕ hE/> s Z ;Ͳϯ͘ϱйͿ͕ >/E< ^^hZ ;Ͳϲ͘ϰйͿ͕

24.6%

5.8%

ĂŶĚ h D Ed ;нϭ͘ϭйͿ͘ dƌĂŝůŝŶŐ͕ ƚŚĞ ĂŶŬŝŶŐ ĂŶĚ ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

11.5%

4.2%

29 AIICO Insurance PLC

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ

1.0x

1.2%

ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ďƵLJŝŶŐ ŝŶƚĞƌĞƐƚ ŝŶ DdEE ;нϰ͘ϬйͿ

Kŝů Θ 'ĂƐ ŝŶĚŝĐĞƐ ƌŽƐĞ Ϭ͘ϰй ĂŶĚ Ϭ͘ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ

7.4%

0.0%

22 FCMB Group Plc

5.4%

26.05

18 Flour Mills of Nigeria PLC

ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

16.1%

260.60

17 Okomu Oil Palm PLC

5.3% 1.4%

3

;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ

Divindend Earnings Yield Yield

-3.8% -3.6%

T ic k er

Value

P ric e C hg %

N GXGR OUP

472.1

Z EN IT H B A N K

454.9

9.9% 1.2%

GT C O

313.0

4.9%

FB NH

310.5

-3.8%

P R ESC O

203.1

10.0%

UB A

183.3

1.8%

D A N GC EM

129.4

0.0%

A C C ESS

128.4

0.5%

F ID ELIT YB K

106.2

3.3%

T OT A L

96.5

0.0%

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

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Damilare Asimiyu| dasimiyu@afrinvest.com

40

TUESDAY, FEBRUARY 1, 2022 ˾ T H I S D AY

BUSINESS/MONEYGUIDE

IFAD Executive Board Approves Fund’s Diversification to Ethical Investments Oluchi Chibuzor In a significant move to strengthen its commitment to ethical investments, the Executive Board of the International Fund for Agricultural Development (IFAD) agreed on a policy to further shift the Fund’s treasury investments to green bonds and other Environmental, Social and Governance (ESG) investments.

The policy was approved through a vote by correspondence in addition to IFAD’s already established socially responsible investment strategy, which mirrors UN Global Compact principles.

With the adoption of the 2022 Investment Policy Statement, IFAD would also publish the list of industries excluded from its

investments, strengthening its position as a responsible investor.

According to a recent statement by the UN’s body, as at the end of September 2021, IFAD had US$1.35 billion invested in financial instruments.

“This amount is derived from replenishments (contributions from Member States), borrowed funds and loan repayments, which are then committed to developing countries under IFAD’s regular programme of loans and grants,” the statement stated.

IFAD Associate Vice-President and Chief Financial Officer and Controller, Alvaro Lario, said; “IFAD has always been a responsible investor with human rights, environmental, social and anti-corruption principles

strongly entrenched in our DNA. Today’s landmark decision is an ambitious step to further translate our principles into reality.”

Going forward, IFAD noted that it would proactively increase its investments in green bonds and other ESG securities, including supranational, sovereign, agency and corporate bonds, and assetbacked securities in the impact bond market, hinting that IFAD’s ESG investments on financial markets have so far remained limited.

“Increasing our investments in ESG bonds is not only further proof of our commitment to strong ESG standards but it is also a long-term strategy to strengthen IFAD’s portfolio and align it to sustainable financial market practices,” added Lario.

CMAN Boss Lauds FG, CBN Drive to Boost Economy Mohammed Lawal Bello has assumed office as Chairman of the Cement Manufacturers Association of Nigeria (CMAN).

At his first public engagement during the inauguration of the new BUA cement 3 million metric tonnes plant commissioned by President Muhammad Buhari in Sokoto, Lawal lauded the efforts of the Buhari administration and the Godwin Emefiele led CBN in collaborating with stakeholders to boost the economy of Nigeria.

CMAN is the umbrella body of all cement manufacturers in Nigeria.CMAN in a statement said, “Lawal is a technocrat and businessman. His coming on board will re-engineer the

activities of CMAN to conform to its objectives and goals while making sure the public gets value for its money. He will also bring dynamism and focus to the association’s goal and objectives of providing quality services to cement consumers while protecting the interest of its member.

Lawal is a founding member of skygeoscan, a company involved in using patented thermovision tomography technology to scan for oil, gas, and solid minerals.

“He started his career in 1985 as an engineer with the engineering and technical services department of NNPC and resigned in 1988 to set up his business.

He is the founder of the Universal petroleum company limited, Robinson international inspections limited, international diamond drilling company limited, and he also owns a joint venture with an American company called Delaney.

“He is the past chairman, the board of directors, Nitel-Mtel, and also the past vice-chairman/ commissioner (renewable energy, research, and development) of the Nigerian Electricity Regulatory Commission, ABUJA. After his service in 2015, he got involved in the renewable energy of the power sector, consulting and partnering with petroleum and power industries.”

NMDPRA Chairman Appoints SA on Strategy and Policy The Chairman of the Governing Board of the new Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ambassador Idaere Ogan, has appointed Dr. Chijioke Mama, his Special Adviser on Strategy and Policy.

According to a statement, Mama is expected to provide strategic and policy-related advice to the Chairman, towards the desired creation of world-class governance and regulatory frameworks at the Authority.

The new NMDPRA consists of the defunct Petroleum Product Pricing Regulatory Agency (PPPRA), the defunct Petroleum Equalization Fund (Management) Board (PEF) and some elements of the defunct Department of Petroleum Resources (DPR).

Prior to this appointment Mama has been the Founder

and Manager of Lagos-based, Energy & Infrastructure Advisory firm, Meiracopp Nigeria Limited (MNL), which has been active in project advisory, project development and raising capital for local and international organization in the midstream, upstream and renewable energy space. An accomplished energy professional, Mama, who has a doctorate in Business Management has led the development of gas commercialisation schemes for several fields in Nigeria, advised several international gas turbine Original Equipment Manufacturers (OEMs), and provided transaction advisory support to several high profile projects, including planned LNG and Ammonia Urea projects in Nigeria. In 2021, he was featured at the German-Nigerian Business Forum, where he discussed strategies for kick-starting a Hydrogen

Economy in Nigeria and is currently pursuing a second doctorate degree in Finance.

Many have noted that the NMDPRA Governing Board, recently constituted by President Muhammadu Buhari is made of accomplished and recognised professionals, with commensurate qualifications and experience.

The board is chaired by Idaere Ogan, an accomplished business executive, who has a sterling reputation and far-reaching experience, as he sits on the board of several private sector companies. The Authority’s Chief Executive, Mr. Farouk Ahmed, who was appointed in 2021 by the President and confirmed by the Senate, is widely seen as an accomplished and veteran petroleum industry executive, who will help bring clarity and impact to the new NMDPRA.

Wema Bank Appoints Two Female Directors Wema Bank has announced the appointment of two Independent Non-Executive Directors to its Board following the Central Bank of Nigeria (CBN) approval.

The bank in a statement said the ttwo new female directors are Dr (Mrs.) Oluwayemisi Olorunshola and Mrs Bolarin Okunowo.

“They are bringing a wealth of corporate experience and more gender diversity to the leading digitally-driven financial institution. Olorunshola is an experienced Supply Chain professional with a cumulative 25 years of experience as a business associate in a multinational organisation and a

business manager. She obtained her first degree in Education & Economics from the Obafemi Awolowo University, Ile-Ife; a Master of Business Administration from the University of Liverpool, United Kingdom, and a Doctorate in Business Administration from Walden University in the United States of America.

“She is a fellow of the International Institute for African Scholars and a chartered member of the Nigerian Chartered Institute of Personnel Management. Okunowo is a seasoned business leader and finance specialist with over 17 years of experience in invest-

ment banking and financial services, manufacturing, oil and gas, real estate, and hospitality.

She is the Managing Director/ Chief Executive Officer of Chemical and Allied Products Plc, a subsidiary of UAC of Nigeria Plc. “Before her appointment at CAP Plc, Okunowo served as the immediate past Managing Director/CEO of Portland Paints and Products Nigeria Plc, a subsidiary of UACN. Before joining the UACN Group, she was the Head of Energy & Infrastructure Finance at Stanbic IBTC Capital, responsible for the oil and gas, power, and infrastructure debt finance portfolio.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

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

0.00

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

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT THURSDAY, OCTOBER 7

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

41

T H I S D AY ˾ TUESDAY, FEBRUARY 1, 2022

MARKET NEWS

Flour Mills Reports 49% Increase in Revenue to N824.98bn in 9 Months Ȋ ȱ ȱ ȱ Ȭ ȱǞŚ ȱ Kayode Tokede Flour Mills of Nigeria Plc (FMN) yesterday reported 49 per cent increase in revenue to N824.98billion in its unaudited result and accounts for nine months ended December 31, 2021 from N555.34billion reported in prior nine months ended December 31, 2020.

Flour Mills of Nigeria in the

period under review demonstrated solid performance across Food, Agro-Allied and Support Segments delivering revenue growth of 51 per cent in third quarter of December 31, 2021 to N569.6 billion, behind strong volume growth and mix.

Persistent good operating performance in the Food segment; continuous improvement in the Agro-Allied and Support

P R I C E S MAIN BOARD

F O R

DEALS

segments alongside strong volume growth resulted in an impressive Profit Before Tax of N25.25billion in nine months of 2021 from N23.61billion in nine months of 2020.

Agro-Allied segment in nine months of 2021 contributed 42per cent or N10.7billion o the Group’s Profit Before Tax following the increase in local demand and improved export

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

operations.

Profit for the period, thus rose by per cent to 9.4 per cent to N17.05billion in nine months of 2021 from N15.58billion reported in nine months of 2020.

As part of its expansion plans to meet growth demands, the Group installed a new pasta line, concluded the construction of a soya plant in Agbara, and purchased sixty new trucks

T R A D E D MAIN BOARD

A S

during the review period.

The Kaduna Feed Mill is near completion and is projected to be operational in May 2022.

Meanwhile, the Nigerian Exchange Limited (NGX) yesterday announced the listing of the Federal Government of Nigeria (FGN) $4billion FGN Eurobonds on its platform.

The Eurobonds were issued in three tranches as follows:

O F

3 1

6.125% FGN SEP 2028 worth $1.25billion; 7.375% FGN SEP 2033 worth $1.5billion; and 8.25% FGN SEP 2051 worth $1.25billion.

In a statement it stated, “NGX continues to thrive as a multi-asset securities exchange providing access to a diversified range of assets including equities, fixed income, Exchange Traded Products (ETPs).

/ 1 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

42

TUESDAY, FEBRUARY 1, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 28Jan-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 170.96 173.81 2.96% Afrinvest Plutus Fund 100.00 100.00 9.03% Nigeria International Debt Fund 325.35 325.35 4.42% Afrinvest Dollar Fund 101.87 103.02 0.86% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.80% AIICO Balanced Fund 3.42 3.49 -3.30% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 2.85% Anchoria Equity Fund 140.37 142.12 1.18% Anchoria Fixed Income Fund 1.18 1.18 2.90% info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 20.54 21.16 1.28% ARM Discovery Balanced Fund 465.80 479.84 3.24% ARM Ethical Fund 39.21 40.40 0.66% ARM Eurobond Fund ($) 1.08 1.08 -0.17% ARM Fixed Income Fund 1.02 1.02 0.44% ARM Money Market Fund 1.00 1.00 8.49% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel: 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.47 108.47 0.49% AVA GAM Fixed Income Naira Fund 1,076.32 1,076.32 0.81% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 12.26% Capital Express Balanced Fund (Formerly: Union Trustees Mixed Fund) 2.21 2.25 25.44% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.05 1.05 0.77% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.71% Paramount Equity Fund 17.90 18.22 6.36% Women's Investment Fund 141.41 142.94 1.66% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A N/A N/A N/A Cordros Dollar Fund ($) CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 7.18% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 7.48% EDC Nigeria Fixed Income Fund 1,149.35 1,152.03 -1.75% assetmanagement@emergingafricafroup.com EMERGING AFRICA ASSET MANAGEMENT LIMITED Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.76% Emerging Africa Bond Fund 1.01 1.01 -0.69% Emerging Africa Balanced Diversity Fund 1.01 1.01 -9.23% Emerging Africa Eurobond Fund 104.90 104.90 0.28% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn 1,407.79 FBN Bond Fund 1,407.79 11.09% 177.16 FBN Balanced Fund 178.39 1.09% 116.53 FBN Halal Fund 116.53 9.16% 100.00 FBN Money Market Fund 100.00 9.16% FBN Dollar Fund (Retail) FBN Nigeria Smart Beta Equity Fund FCMB ASSET MANAGEMENT LIMITED Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Legacy Money Market Fund Legacy Debt Fund Legacy Equity Fund Legacy USD Bond Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Balanced Fund Coral Income Fund Coral Money Market Fund

122.59 150.19

122.59 3.86% 152.01 0.05% fcmbamhelpdesk@fcmb.com

Bid Price 1.00 3.99 1.78 1.21

Offer Price Yield / T-Rtn 1.00 7.67% 3.99 -0.32% 1.82 2.38% 1.21 0.34% coralfunds@fsdhgroup.com

Bid Price N/A N/A N/A

Offer Price N/A N/A N/A

Yield / T-Rtn N/A N/A N/A

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 6.84% Vantage Balanced Fund 2.86 2.92 0.19% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.24 142.29 -8.59% Vantage Equity Income Fund (VEIF) - June Year End 1.27 1.31 0.79% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 3.98% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.54 1.56 1.97% Lotus Halal Fixed Income Fund 1,145.58 1,145.58 0.78% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 12.05 12.17 2.37% Meristem Money Market Fund 10.00 10.00 9.88% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 100.61 100.62 8.28% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.91% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.61 1.63 PACAM Fixed Income Fund 11.53 11.51 2.97% PACAM Money Market Fund 10.00 10.00 7.19% PACAM Equity Fund 1.45 1.47 0.83% PACAM EuroBond Fund 114.67 116.99 -0.53% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 129.72 132.17 6.73% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.08 1.08 10.03% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,431.90 3,468.04 -0.35% Stanbic IBTC Bond Fund 236.37 236.37 0.27% Stanbic IBTC Ethical Fund 1.28 1.30 -0.77% Stanbic IBTC Guaranteed Investment Fund 314.51 314.51 0.37% Stanbic IBTC Iman Fund 238.40 241.90 -1.54% Stanbic IBTC Money Market Fund 100.00 100.00 7.35% Stanbic IBTC Nigerian Equity Fund 10,981.21 11,134.28 -1.16% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.33% Stanbic IBTC Shariah Fixed Income Fund 117.26 117.26 0.25% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.14 107.14 UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 0.93 0.96 0.41% United Capital Balanced Fund 1.38 1.40 1.41% United Capital Wealth for Women Fund 1.11 1.13 2.06% United Capital Sukuk Fund 1.08 1.08 0.58% United Capital Fixed Income Fund 1.9671 1.9671 0.52% United Capital Eurobond Fund 122.84 122.84 0.41% United Capital Money Market Fund 1.00 1.00 8.81% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.20 13.32 0.08% Zenith ESG Impact Fund 14.81 14.97 1.38% Zenith Income Fund 22.20 22.20 0.99% Zenith Money Market Fund 1.00 1.00 7.24%

REITS

NAV Per Share

Yield / T-Rtn

124.98 54.65

10.62% 8.10%

Bid Price

Offer Price

Yield / T-Rtn

13.71 131.76 103.82 18.55 21.87

13.81 135.06 106.10 18.65 21.97

-1.80% 0.11% 0.19% 0.00% 0.00%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.34 5.71 17.99 1.00 20.57 160.48

4.44 5.81 18.19 1.00 20.77 162.48

15.34% 12.06% 4.68% 8.01% 6.04% 1.70%

NAV Per Share

Yield / T-Rtn

107.28

10.80%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

43

TUESDAY, ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

PIONEER CLASS GRADUATION CEREMONY...

L-R: Former Minister of Information, Mr. Frank Nweke Jr; Former Central Bank Governor and Anambra State Governor-elect, Prof Charles Soludo; Vice Chancellor, School of Politics, Policy and Governance, (SPPG) Alero Ayida- Otobo; Dean, Dr. Amina Salihu and Former Minister of Education/Founder, School of Politics, Policy Governance, Oby Ezekwesili, during the pioneer class graduation ceremony in Abuja ...yesterday

Again, Nigeria, Other African Countries Led OPEC Oil Production Underperformers in January Oil price rises to $91.25 Emmanuel Addeh in Abuja Nigeria was once more unable to meet its oil production allocation by the Organisation of Petroleum Exporting Countries (OPEC) in January.

The country was only able to pump 1.46 million barrels per day of the expected 1.683 million bpd in January.

Although it achieved an improvement of 50,000 bpd on its 1.41 million bpd production in December 2021, the African continent’s biggest oil producer remained far from meeting its target.

When the OPEC allocation for the month was deducted from the actual oil produced, Nigeria in January lagged behind by as much as 223,000 bpd in the first month of the year.

But oil prices continued to rally yesterday, with a 17 per cent jump in January, the strongest January performance in a long time, as the expected global supply struggled to keep up with rebounding demand.

Brent and WTI benchmarks recorded their highest levels since October 2014 last Friday and their sixth straight weekly gain.

On the last trading day of January, Brent Crude, Nigeria’s benchmark traded for as high as $91.25, up by over 1.17 per cent while the West Texas International (WTI) crude was up 0.68 per cent at $87.63 as at Monday night.

The tightening oil market was further exacerbated by a winter storm in the United States as well as geopolitical concerns arising from the brewing faceoff between Russia and Ukraine.

Added to that was the ongoing

situation in the Middle East, where the United Arab Emirates (UAE) reported a third attack this month, from the Iran-aligned Houthis.

But in all, a Reuters survey sighted by THISDAY indicated that with a 2020 baseline of 1.829 million bpd, Nigeria achieved 369,000 barrels out of its cut, with a remaining cut pledge of 146,000.

It’s compliance (over-compliance) was 253 per cent in January.

It showed that OPEC pumped 28.01 million bpd in January, up 210,000 bpd from the previous month but short of the 254,000 bpd increase allowed under the supply deal.

The producers' group meets on Wednesday and was expected to stick to previously agreed plans despite the surge in oil prices to a seven-year high near $92 a barrel.

The OPEC+ agreement allowed

for a 400,000 bpd production increase in January from all members, of which about 254,000 bpd is shared by the 10 OPEC members participating in the deal, OPEC documents showed.

With output undershooting the planned increase, OPEC's compliance with its pledged cuts increased to 132 per cent in January, the survey found, up from 127 per cent a month earlier.

Nigeria has struggled for months to fully meet its quota due mainly to ageing upstream infrastructure, sabotage and outright oil theft.

In addition, the Group Managing Director, Nigerian National Petroleum Company (NNPC), Mr. Mele Kyari, had said that NNPC’s joint venture partners were unable to restart oil wells shut down in the heat of the COVID-19 pandemic.

But the survey showed that

2023: Osinbajo, Better Candidate for APC Than Tinubu, Group Insists Francis Sardauna in Katsina A pro-All Progressives Congress (APC) group, the Progressive Consolidation Group (PCG), has said the Vice-President, Prof. Yemi Osinbajo is a better and sellable candidate for the ruling party than its former Lagos Governor, Ahmed Bola Tinubu for the 2023 presidential election.

Addressing journalists in Katsina yesterday, the National Chairman of the PCG, Dr. Aliyu

Rabiu Kurfi, described the vice president as a, "dependable, transparent, competent and passionate Nigerian," who cares about the ordinary man and the youths.

According to him, "Nigerians want somebody who will be able to deliver the dividends of democracy and they don't care whether that person was a son, daughter or grandfather of any other person related.

"Those who are craving for

the vice president to come up have their cogent reasons for doing so. And I believe they are passionate about it and they have been able to compare for instance the personality trend and capacity of the two (Osinbajo and Tinubu) and the ability of each one of them to relate with Nigerians.

“I believe most of us who are doing so are really passionate about it and that he is capable and competent. Yes, Osinbajo is

a sellable and better candidate for APC than Tinubu in 2023.”

The leader of the group further described Osinbajo as the only candidate that knows the country, adding that he has the acceptance of all Nigerians regardless of tribal and religious affiliations.

He, therefore, called on the ruling APC to adopt Osinbajo as its consensus candidate for the presidential election, insisting that Osinbajo is the best candidate for the party in 2023.

2023: Tambuwal Begins Consultations on Presidential Bid Chuks Okocha in Abuja Sokoto State Governor, Aminu Waziri Tambuwal, yesterday, has concluded plans to begin nationwide consultations on the desirability or otherwise of his presidential ambition.

Tambuwal, who recalled that the trajectory of his political career has shown a consistent struggle for democratic astuteness, also pointed out that he has never ventured into any political striving without seeking the approval and blessing of the people of his state as well as constituency.

He, therefore, resolved to start a nationwide consultation process that would enable him decide whether to throw his heart in the ring or not.

He said: “I have listened to our party leaders, women and youths on the call that I should initiate and begin the process of consultations with a view to running and contesting for the President of Nigeria under the banner of our great party.”

He, thereafter, informed that he would launch the deliberations in earnest and announce what feedbacks he got.

However, going down memory

lane, Tambuwal recalled that, “The voices of wisdom, conscience and advices from our leaders reflecting, anchoring and leveraging on some part of my (political) history was accurate.

“When members of the House of Representatives of the 7th Assembly approached with their desire for me to constest for the position of Speaker, I gave them certain conditions, one of which was that I have leaders – late President Shehu Shagari, former Governor Aliyu Magatakarda Wamakko and two others in (Sokoto) state.

“I told them to go to my state

and consult with these leaders. If they bless your initiative, I will accept your proposal and contest for the Speaker.

“When they came to Sokoto, President Shehu Shagari of blessed memory admonished them that, ‘if you are putting our son forward as the Speaker of the House of Representatives, your efforts must not be sectional or religious,” Tambuwal stressed, pointing to the direction of current political pursuits, which thrust, he notes, must be based on a genuine effort to produce a President for the benefit of Nigeria and Nigerians.

the biggest rise in January came from Saudi Arabia, OPEC's top producer, which boosted output largely as promised according to the agreement.

Nigeria was also able to boost shipments of Forcados crude after a force majeure was lifted, although output is still in long-term decline, among the largest in OPEC. The United Arab Emirates and Kuwait followed through on their higher quotas while Venezuela, which is exempt from the deal, pumped more as it halted a yearslong decline in output.

Production fell or did not increase in Angola, Congo, Libya,

Iraq and Iran, the survey found, in many cases, owing to a lack of capacity to produce more or because of unplanned outages.

Output in Iraq edged down, while Iran pumped at stable levels in January amid prolonged talks on reviving its nuclear deal with world powers, which would allow higher oil exports.

OPEC and allies, known as OPEC+, are unwinding record output curbs made in 2020 but are still withholding millions of barrels. In January, the cuts required of OPEC stood at 2.129 million bpd, according to Reuters calculations and OPEC figures.

Court Orders Kano’s Ex-commissioner Remanded over Criminal Defamation against Ganduje Ibrahim Shuaibu in Kano A Magistrate Court number 58, sitting at No-Man’s-Land in Kano State, has remanded a former Commissioner for Works and Infrastructure in the state, Muaz Magaji, in a correctional centre over alleged defamation of character against Governor Abdullahi Umar Ganduje.

Magaji is facing a four-count charge, bordering on defamation of character, intentional insult, and injurious falsehood and inciting disturbance against Ganduje.

When the charges, which contravened Sections 392, 399 and 114 of the Administration of Criminal Justice of Kano State 1999, were read to Magaji by the prosecution counsel, Wada Ahmed Wada, he pleaded not guilty to all the charges.

Also, when the magistrate asked the defendant whether he knew the meaning of defamation of character, the former commissioner answered no, and the judge explained the meaning to him.

The judge, however, explained c in the First Information Report (FIR), that part of the charges was that he was being accused of posting Ganduje’s picture on Facebook with a lady, which portrayed the governor of having extra-marital affairs with other

ladies and Magaji denied the allegations.

The prosecution counsel, therefore, applied for adjournment in order to present his case.

On his part, the defence counsel, Gazzali Ahmad, applied for bail of his client on health grounds, citing Sections 168, 172 and 174 of the Administration of Criminal Justice of Kano State 1999.

But the prosecution opposed the bail application on the grounds that the defence counsel did not tender sufficient evidence to prove his client’s alleged debilitating health condition.

He further said granting bail to the defendant could encourage the youths to defame the character of leaders and other innocent people.

The magistrate, to that extent, ordered the defendant to be remanded in prison custody and adjourned the case to February 3, 2022 for ruling on the bail application.

Magaji was first arraigned on Friday, January 28, but failed to take a plea due to alleged loss of hearing he suffered.

His lawyer, Ahmad, had argued that his client temporarily lost hearing owing to aural injuries he sustained after airbag discharge, in which the presiding judge ordered him to be remanded in the police headquarters hospital.

44

TUESDAY, ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

NEWS

WE HAVE MADE PROGRESS...

L-R: Secretary of the APC Caretaker Extra-ordinary National Convention Planning Committee, Senator John James Akpanudoedehe; Former Senate President, Senator Ken Nnamani; Chairman, APC Reconciliation Committee, Senator, Abdullahi Adamu; PHOTO: ENOCK REUBEN Former Speaker, House of Representatives, Yakubu Dogara and other members of the committee when the committee submitted its interim reports to the Chairman at the party’s national secretariat in Abuja ...yesterday

Amao: 38 Aircraft Inducted into NAF Inventory to Fight Insurgency Kingsley Nwezeh in Abuja The Chief of Air Staff, Air Marshal Oladayo Amao, has said a total of 38 new aircraft were inducted into the inventory of the Nigerian Air Force to fight insurgency.

This is as troops of 120 Task Force Battalion, Sector 2, Joint Task Force (JTF) Operation Hadin KAI (OPHK), reportedly eliminated five Boko Haram and ISWAP fighters in a fierce encounter at Goniri, Yobe State.

The troops launched the attack in conjunction with members of the Civilian Joint Task Force(CJTF).

Amao made the assertion in the latest edition of the Airman, a magazine of the Nigerian Air Force.

He said the latest addition to the fleet included the 12 A-29 Super Tucano aircraft recently acquired by the government.

According to him, while some of the fighter planes were deployed to tackle insecurity in some parts of the country, the others were

being used to conduct training for pilots.

“Prior to the coming on board of the President Buhari-led administration in 2015, the NAF was in the pitiable state, owing to neglect as most of its platforms were grounded or in state of disrepair.

"The NAF can now boast of 38 brand new aircraft to tackle various security challenges and upscale its pilots training. The latest addition to the list is the A-29 Super Tucano aircraft, which were recently inducted into the NAF order of battle.

"The acquisitions and reactivation, as well as the emplacement of a robust logistics support structure, have enabled the NAF to raise the serviceability status from about 35 per cent in 2015 to about 72 per cent as of September 2021,” he said.

He also disclosed that 173 pilots were trained in the last six years with additional 155 student pilots undergoing training, adding that the air force had introduced

2023: Emmanuel Names Lands Commissioner Preferred Successor Okon Bassey in Uyo After months of speculations, Akwa Ibom State Governor, Udom Emmanuel, has named his Commissioner for Lands and Water Resources, Pastor Umo Eno, as a preferred successor for governor of the state in 2023.

Eno was unveiled at the Peoples Democratic Party (PDP) stakeholders' meeting held on Sunday at the state Governor's Lodge, Uyo. A former governor of the state, Obong Victor Attah, made formal presentation of Eno on behalf of Emmanuel to the stakeholders in the meeting Major political chieftains across the three senatorial districts of the state, who attended the gathering reportedly applauded the choice of Eno and pledged to work towards his success as the next governor of the state in 2023.

Speaking after he was unveiled, Eno said he was grateful to God and to Emmanuel for finding him worthy of the onerous task to lead the people of the state and promised to continue the peoplefocused and developmental

strides of the incumbent.

Top clerics in the state including Bishop Uma Ukpai and the Prelate Emeritus of the Methodist Church of Nigeria, Dr. Sunday Mbang, and other Fathers of Faith prayed for his success.

Among those, who attended the event, were the Deputy Governor, Mr. Moses Ekpo; Speaker of the State House of Assembly, Rt. Hon. Aniekan Bassey; Senators Akon Eyakenyi, Effiong Bob, Ibok Essien, Aloysius Etok, former Deputy Governor, Etim Okpoyo.

Others were member, representing Etinan Federal Constituency at the National Assembly, Onofiok Luke; PDP Party Chairman, Elder Aniekan Akpan; Barrister Emmanuel Enoidem, the National Coordinator of the Maintain Peace Movement, (MPM); Hon Pat Ifon, Member representing Eket Federal Constituency at the National Assembly and Member, PDP BOT, Chief Nduese Essien, a former Minister of Housing, Ambassador Assam Assam, SAN, Nigeria’s former Ambassador to Russia, just to mention the few.

eleven new doctrines to guide its operations.

He explained that the doctrines were based on analysis of the contemporary security environment as well as operational experiences, adding that competencies in the air force were guided by the doctrines.

He assured Nigerians that the air force, in synergy with other security agencies, would continue to sustain its air operations against all criminal elements in the country to enable law-abiding citizens to carry out their legitimate duties

without fear.

Meanwhile, troops of 120 Task Force Battalion, Sector 2, Joint Task Force(JTF) Operation Hadin KAI(OPHK) carried out the attack in conjunction with members of the Civilian Joint Task Force (CJTF).

An army statement said a clearance operation code-named "Operation Dominance I" along the insurgents' route of manouvre at Ngirbua village, troops neutralised two BH/ISWAP terrorists following a ferocious battle while others, bow-

ing to troops' superior firepower, retreated in disarray.

It said troops recovered one AK 47 rifle, one FN rifle and a motorcycle.

"The troops in conjunction with CJTF are currently, combing the general area to track down the fleeing insurgents," it said.

In another encounter, troops of Sector 3 Operation Hadin Kai deployed at Forward Operating Base Magumeri, came in contact with terrorists while on a fighting patrol around Mallumti general

area.

"In the firefight that ensued, the dogged troops killed three terrorists and recovered three AK47 rifles, one magazine, quantity 23 of 7.62mm special ammunition, one pick-up truck, two solar panels, seven mobile phones, food stuff and provisions, among others.

"The good people of Yobe and Borno States are please enjoined to support the troops with actionable information on the movement of any insurgent in their localities," it said.

Alleged Hajj Scam: EFCC Detains Medview Airline MD, Bankole Files fresh charges against Okorocha, others over N2.9bn fraud Kingsley Nwezeh in Abuja The Economic and Financial Crimes Commission (EFCC), yesterday, detained the Managing Director of Medview Airline, Mr. Muneer Bankole.

THISDAY gathered that he was taken into custody yesterday at the headquarters of the EFCC in Jabi, Abuja.

Also, the EFCC, yesterday, filed fresh charges against former Imo State Governor, Senator Rochas Okorocha, over allegations that he conspired with others including an APC politician and five companies, to embezzle N2.9 billion from public coffers.

However, a source familiar with the Bankole case disclosed that the airline MD, who arrived the EFCC complex at 11am, was invited by the anti-graft agency over a case of alleged diversion of 50 per cent of funds paid to him by the National Hajj Commission and an additional $900,000 for the airlift of pilgrims in 2019.

He allegedly received the funds as mobilisation but did not execute the contract.

When contacted, EFCC Spokesman, Mr Wilson Uwujaren, confirmed the arrest.

On Okorocha, the EFCC has already filed 17 charges against him at the Federal High Court, Abuja.

Other defendants in the case

were Anyim Nyerere Chinenye, Naphtali International Limited, Perfect Finish Multi Projects Limited, Consolid Projects Consulting Limited, Pramif International Limited, and Legend World Concepts Limited.

Okorocha declared his intention to run for the office of the president in 2023 yesterday in Abuja.

His co-accused, Nyerere, was the APC governorship candidate in the 2015 Abia State election and served as a commissioner at the National Pension Commission.

He was listed in all the 17 charges and was accused of

conspiring with Okorocha to steal and launder N2.9 billion belonging to Imo State and local government areas in the state in contravention of the Money Laundering Act 2011.

Okorocha was believed to own or control three of the charged companies, namely Consolid, Pramif, and Legend World – all registered in Abuja, while one of the defendants, Nyerere, was also believed to be a director in all three.

The EFCC charges claimed that the funds were diverted between October 2014 and February 2016 from the Imo State Government House account and Imo State Joint

Local Government Project account.

The timelines of diversion, according to the charges, included February 11, 2014, the defendants, Okorocha, Mr Nyerere, and Perfect Finish Multi Projects Limited diverted N67,500,000; August 28, 2014: N486,000,000 and October 14, 2014: N900,000,000.

Further details of the movement of funds: August 4, 2015, N279,000,000; February 10, 2016, N243,000,000; February 10, 2016: N200,000,000; February 10, 2016, N243,000,000; February 11, 2016, N243,000,000 and February 12, 2016, 243,000,000

2023: Baba-Ahmed, Base University Proprietor, Declares Interest in Kaduna Governorship

John Shiklam in Kaduna

A chieftain of the Peoples Democratic Party (PDP), Senator Datti Baba-Ahmed, has declared his intention to contest the Kaduna State governorship in 2023.

Baba-Ahmed, in a letter of expression of interest submitted to the leadership of the PDP in the state, said he wanted to serve the people and lead them to prosperity.

Baba-Ahmed, who is the proprietor of Baze University, Abuja and former senator who

represented Kaduna North Senatorial District in 2011 on the platform of the Congress for Progressive Change (CPC), said his decision to run for the governorship race was a call to duty.

Baba-Ahmed, who was a presidential aspirant in the 2019 election, said the people of Kaduna were in need of a good leader that would secure their lives, property and bring prosperity to the state.

“I am not here to seek a job or a position, but I am moved by

the plight of the people to offer myself to serve and lead Kaduna residents to the glorious Kaduna State we all aspire.

“A good leader is the one that solves societal problems, brings prosperity and development.

Therefore, we will fail if we do not screen good leaders that will work to improve the standard of living of the people,” he said.

Baba-Ahmed was a member of the House of Representatives between 2003 and 2007, before he was elected Senator for Kaduna North in 2011.

TUESDAY FEBRUARY 1, 2022 ˾ T H I S D AY

45

NEWS

Police Neutralises 23 Bandits, Arrest Gun Runner, 37 Others in Sokoto

Onuminya Innocent In Sokoto

The Nigeria Police Sokoto State command has neutralised 23 bandits and arrested 37 others who have been terrorizing Rabah, Illela and Goronyo local government areas of Sokoto state.

Briefing journalists at the command headquarters , Sokoto yesterday, Deputy Inspector General of Police (DIG) in charge of operations, Zaki Ahmed, said the special force of the police identified the camps of the bandits linked to the notorious gang leader Bello Turji and raided it at the three local governments of the state.

He further disclosed that one Musa Mohammed Kamarawa age 33 years from Isa local government is the one responsible for the procurement of arms and ammunition for the bandits in the area.

DIG Ahmed further explained in the course of the operation the police recovered 32 AK-47 riffles, 2RPG, 1Rocket launcher, 1,412 rounds of 7.62mm live Ammunition, 1,200 rounds of AA live Ammunition, four locally made pistol , one barreta pistol, three pairs Army camouflage uniforms,

four operational vehicles, 10 cartons of pentazocine B.P 30 injection, one solar panel charger, One solar charger control, one lar rifle, one G 3

rifle , 33 live cartridges , one AK-47 magazines, some assorted charms , 16 techno handsets , two bow and arrow and cutlasses.

Ahmed urged the general public to provide police with intelligent information to enable them get rid of criminals.

He said the suspects would

soon be charged to court when the police conclude it investigation.

When interviewed Musa Mohammed, who used to

procure guns for the bandits confessed saying he has procured gun truck from Libya at the cost of N28 million for the bandits.

DISCUSSING NIGEIRIA-TURKEY BUSINESSES…

L-R: Current Commercial Counselor,Turkey Embassy in Nigeria, Mr. Erbay Ongun; Chairman, Nigeria-Turkey Business Council and First Deputy President, Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture ( NACCIMA), Dele Kelvin Oye Esq.,Turkish Ambassador to Nigeria, His Excellency, Hidayet Bayraktar; Chairman, Turkey- Nigerian Business Council, Hakan Ozel; Deputy Head of Mission, Alper Haner, at a meeting of NBTC and embassy officials in Lagos… recently

INEC Threatens to Sanction Governorship Primary: Stop Acting Like Bad Loser, PDP Tells Oni Politicians for Early Campaigns Victor Ogunje in Ado Ekiti

Ibrahim Shuaibu in Kano The National Commissioner, Information and Voter Education (IVEC) of the Independent National Electoral Commission (INEC), Festus Okoye, has disclosed that the commission will sanction any politician who engages in direct public political campaign before the designated time approved by the commission.

However, Okoye said political parties are free to do their congresses, conventions and meetings.

“These are normal and consistent with the constitution and the electoral act. People are also free to aspire for political positions, it is their constitutional

rights. As at now, we are still operating within the existing electoral framework that makes it mandatory for political parties to only begin elections 90 days to election,” he said.

Speaking in Kano yesterday, during a capacity building workshop for Heads of Voter Education and Publicity (VEP) and Public Affairs Officers of the Commission from the 19 northern states and the FCT, Okoye added that “But if the bill before the National Assembly and assented by the President, parties could submit their nominated candidates 180 days to election.

“What is not allowed is campaigning in public, but you can go and hold meetings with like minds,” Okoye added.

The Ekiti State chapter of the People’s Democratic Party (PDP), has advised the former Governor of the state and one of the aspirants that participated in the January 26 governorship primary of the party, Segun Oni, to stop acting like a bad loser over the outcome of the shadow poll.

The opposition party described the outcome of the party gubernatorial primary election in which Hon. Bisi

Kolawole emerged the party flag bearer last Wednesday as a “very credible , free and fair election. “ Oni had in a statement, on Sunday, by the Director General of his campaign organisation, Yemi Arokodare, accused the National Chairman of the Party, Iyorchia Ayu and former Governor Ayodele Fayose of selling out Ekiti PDP, by conceding the ticket to Fayose’s anointed, Bisi Kolawole.

However, Acting Chairman of the State Working Committee,

Hon Lanre Omolase, in a statement yesterday stated that after a thorough review of the election , the party commended the PDP National Working Committee (NWC) for its transparency and impartiality, calling on all aspirants and their supporters to regard the contest as a family affairs where there was neither a victor, nor a vanquished.

The statement signed by PDP State Publicity Secretary, Raphael Adeyanju, said : “We had 17 aspirants, and the majority of

them have accepted the outcome of the primary election, if only two of them have not made up their minds , that cannot descredit the outcome of the primary election because they will be in the minority.

“We, however, are still urging them not to behave like bad losers. They should come out to embrace our candidate.

We are ready to carry everybody along in this project, because the success of the party in the general election is our collective responsibility.”

Innovate to Tackle Housing, Other Challenges, Aregbesola Task Engineers Professionals in the engineering field have been advised to join in the search for solutions to the many challenges facing the Nigeria including its housing deficit.

Minister of Interior, Ogbeni Rauf Aregbesola, gave the advice at the 29th Founders’ Day Celebration of the Ikeja, Lagos Branch of the Nigerian

Society of Engineers(NSE) and the inauguration of the Engineering Resource Centre named in his honour in Lagos yesterday.

“I will urge engineers, in spite of the giant strides they have made, not to relent in their efforts at human development and progress in order to live up to the billing as merchants of applied knowledge. The best

research and innovations will still take engineers to convert to reality.

“One major challenge of an urban centre like Lagos is housing shortage. According to the latest estimate, Lagos has 2.5 million housing deficit. This creates other problems of health, the environment and security.

“The overcrowding and high

population density in some areas is a ticking time bomb in epidemics and pandemics of the future. Engineers should begin to design and construct low-cost houses that use less concrete and blocks and can be produced at very fast rate in order to decongest and restore sanity to these areas,” the minister stated.

Kwara State Vice Chairman of Nigeria Labour Congress(NLC) Comrade Saheed Olayinka yesterday lauded the state governor, Alhaji AbdulRahman AbdulRazaq over the full payment of new minimum wage to all the categories of workers in the state public service.

Olayinka, who is also the chairman, Coalition of All Health

speaking with THISDAY on the recent payment of new minimum wage to workers in the state.

He said: “I want to say that all workers in the state public service are very happy for the Implementation of the new minimum wage in the state.

“I want to say once again that we are very happy with Governor AbdulRahman

categories of workers that cut across workers in the local government councils, state primary education board, teaching service commission, health institutions among others.

“We even held a meeting at the state secretariat of the NLC, Ilorin this morning(Monday) to appreciate the governor on the Implementation of new minimum

you that since last Friday and till today(Monday) workers in the state public service have been receiving alerts on the payment of the new minimum wage.

“I don’t know how I can quantify our happiness on the development and we laud the state government for this giant stride on the payment of new minimum wage to workers”.

Ecobank Drags Vigeo, Osibodu to Court over Kwara NLC Commends AbdulRazaq on Payment of New Minimum Wage Workers in the state, give the AbdulRazaq for the payment wage for workers in the state”.

Alleged N8.7bn Debt Hammed Shittu inIlorin commendation in Ilorin while of new minimum wage to all Olayinka added: “I want to tell Wale Igbintade

Ecobank Nigeria Limited has dragged a Lagos- businessman, Mr. Victor Osibodu and his company, Vigeo Limited before the federal high court, sitting in Lagos, over an alleged N8,701,770,328.83 debt.

The trial which was to commence yesterday could not take place as both parties in the suit agreed to carefully align all the exhibits that would be tendered.

When the matter came up, counsel to Ecobank, Mr. Dapo Akinosun, told the trial judge, Justice Yellin Bogoro that the matter was slated for hearing.

He further informed the court that the bank had 111 exhibits attached to the process.

He added that he had discussed with the defence counsel, Mr. Oyetola Oshobi, on the need to

align all the exhibits in order to agree on which of the exhibits that could be tendered together and those that would be objected to in order to save the time of the court.

The defence counsel, Oshobi aligned himself with Akinosun’s submission.

Consequently, both counsel asked for adjournment to enable them reconcile the documents and Justice Bogoro adjourned the matter till March 17th and 30th for commencement of trial.

The crux of the matter was as a result of a $15 million credit facility granted by Ecobank to Vigeo Nigeria limited for the acquisition of all the shares and interest into a motor tug boat known as ‘Lady Margret’ now ‘Vigeo Olufunke’ from a company in Norway.

Anambra APC Rejects State Congress, Calls for Harmonisation David-Chyddy Eleke in Awka

The All Progressives Congress (APC) has rejected the state congress held by a faction of the party loyal to Senator Andy Uba, describing it as a nullity.

Some members of the party had last Sunday met and elected state officers through voice vote,

but the election has been rejected as not being done according to the party’s guideline There has been a rift in the party in the state after the governorship election, with some members of the party accusing the Minister of Labour and Employment, Dr. Chris Ngige, of being the cause of

the party’s failure in the election, leading to the nomination of Senators Uba as the new leader of the party in the state.

The state Secretary of the party, Mr. Chukwuma Agufugo, at a press briefing with journalists yesterday said the party still retains Ngige as its leader, while dismissing the

congress held by the Uba-led faction.

According to him, “I’m not surprised to hear that some people conducted a purported state congress last Sunday, because there has been this desperation by some individuals in the party to concoct what seems like a congress.

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TUESDAY FEBRUARY 1, 2022 ˾ T H I S D AY

NEWSXTRA

Gbajabiamila Decries Condition of Nigerian Embassies Juliet Akoje in Abuja The Speaker of the Federal House of Representatives, Femi Gbajabiamila, has decried the state and operational mode of Nigerian embassies globally, calling for improved condition of service for heads of foreign missions.

The speaker regretted the working

condition of staff of the embassies, saying it encourages all forms of corruption as workers in the affected offices device all means of survival to the detriment of the nation’s image He spoke yesterday during a meeting with the minister of foreign affairs, Geoffrey Onyema on

NSCDC Moves to Monitor Anti-vandal Squad Michael Olugbode in Abuja The Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Audi has launched a telescopic monitoring on activities of his men, especially the anti-vandal squad which was alleged of involvement in oil bunkering in Rivers State.

Speaking yesterday while receiving the report of an Investigative Committee set up to investigate the allegations by the Governor of Rivers State, Nyesom Wike against some personnel said to be aiding and abetting suspected illegal dealers in petroleum products, Audi affirmed his commitment to sanitizing and re-jigging the Rivers State Command of the Corps for effective service delivery and optimal performance.

He said: “Henceforth, a telescopic monitoring would be launched on the activities

of the anti-vandal squads in all formations and anyone not living up to expectation would be shown the way out immediately. You must wake up from your slumber to arrest and prosecute vandals and criminals.”

Audi’s decision is in the furtherance of his assurance to restructure and reconstitute the anti-vandal unit of Rivers State command with a view to prioritising the safety and protection of critical national assets and infrastructure towards putting an end to attacks or wanton vandalism.

He said NSCDC, as the lead agency in safeguarding all critical national assets and infrastructure in Nigeria, is poised to putting in place a robust response and coordination system to guarantee safety and formidability of the country as Africa’s largest economy and leading oil exporter with the largest natural gas reserves.

how to fine tune ways for effective functioning of the nation’s missions abroad “I have been all over the world for one official duty or the other and then of course the first port of call is always the embassy. Honestly, unless we want to kid ourselves it makes you not to be proud to be a Nigerian. The state of affairs of where these people are. What they are doing their lifestyle.

What it leads to sometimes even

to corruption and you cannot even blame them,”he said.

“Even within Africa or outside of Africa, we call people ambassadors.

I think the meaning of ambassador is very clear. They are a reflection of Nigeria. But when an ambassador does not have a car or his car is 15 years old and it breaks down every single time, the car has even broken down with me in it before.

And they had to hurriedly roll up the Nigerian flag and put it in their

pockets to avoid embarrassment.”

“You go to an embassy, the toilet is not working. You ask them why? they say there is no money. You go into an embassy the air conditioners have packed up. I can go on and on. That is what got us here” “I cannot begin to tell you what I have seen and what I have heard.

Hon Minister I know you are very exposed. I have known you for some time even before politics and

I know that you will not stand for this.

That is why we thought this is what we need to do. Insert a clause that would allow these people remove the red tape. Remove the bureaucratic red tape and allow these people to do what they need to do.

He further noted that if anyone is found wanting, the law is there.

Anyone that breaches the law would face the penalty.

Bayelsa, Sterling Bank, Two Others Sign $5m MoU on Medical Supplies Bayelsa State government has signed an agreement with a consortium comprising Sterling Bank, Zipline, Health Spaces and DrugStoc for the Bayelsa Health Supply Chain Transformation Project (BHSCTP).

The project, estimated at $5 million to be provided by the firms, was expected to provide a 21st century supply system and other supply chains using drone technology in the distribution of

cost- effective pharmaceuticals in the state.

Speaking during the MoU signing in Yenagoa, Governor Douye Diri charged the stakeholders involved in the project to ensure that it comes on stream in order to boost distribution of pharmaceuticals, particularly in remote communities in the state.

He identified access to healthcare as a major challenge and urged

the consortium to deploy the technology to create access for residents in far-flung communities.

He said: “We would like to see the drones fly to Koluama, Korokorosei, Egbemo-Angalabiri and to every nook and cranny of the state to solve the issue of access to pharmaceutical products.

Communities in nearby states can also benefit from this project when it is fully operational.”

Diri, who acknowledged that technology was fast taking over in all spheres of life, said it was being deployed in improving security, electoral system and healthcare delivery.

The Commissioner for Health, Dr. Pabara Igwele, signed on behalf of the state government while the Senior Vice President (Africa) of Zipline, Daniel Marfo, signed on behalf of the consortium.

Zwingina: No Political Agenda in Amaechi’s Daura’s Title Olawale Ajimotokan in Abuja

Former Senator representing Adamawa South constituency of Adamawa State, Jonathan Zwingina has said that nothing extraordinary should be imputed into the forthcoming turbaning of Minister of Transportation, Mr. Rotimi Chibike Amaechi as Dan Amanar Daura (trusted

son of Daura) by the Emir of Daura, Alhaji Umar Farouk Umar.

Zwingina stated this yesterday in response to the political colouration that has trailed the exercise scheduled for Daura on February 5.

He insisted that the Katsina State community in its culture was only showing appreciation to the minister for singling

them with projects that will be of benefit to the.

“The kind of projects that the minister has put in that place – I am sure they were not requested for by the President. The community was aware that the minister in his wisdom considered them worthy to put those projects like University of Transport, secondary schools and primary

schools, which are all corporate social responsibility projects practically free of charge as compatibles to the actual financial projects the Chinese are operating,” Zwingina said.

He also downplayed the speculations that the timing of the traditional title ceremony is close to the 2023 election by insisting there is nothing unusual about the timing.

47

TUESDAY, ͹˜ ͺ͸ͺͺ ˾ T H I S D AY

TUESDAYSPORTS

Igoche Mark (wearing black face cap) being sworn in as President of the NBBF at the Abuja Congress

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Ahmadu Musa Kida (fifth from left) along with his new executive committee of the NBBF being sworn into office after the Congress in Benin City... yesterday

Confusion in NBBF Again as Two Factions Elect Kida, Mark as Presidents Parallel congresses in Benin, Abuja rekindle 2017 drama in Nigerian basketball Olawale Ajimotokan in Abuja and Adibe Emenyonu in Benin City The leadership crisis rocking the Nigerian Basketball Federation (NBBF) since 2017 produced yet again two different executive committees yesterday as incumbent Ahmadu Musa Kida was elected in Benin City with Igoche Mark also elected by another faction in Abuja.

It was a repeat of the scenario five years ago when Kida was elected by the Congress supervised by the Federal Ministry of Youth and Sports Development (FMY&SD) in Abuja while basketball stakeholders also elected Tijani Umar 24 hours earlier at another Congress in Kano.

Both Kida and Umar were at each other’s throat all through the four years of that administration

with threats and counter threats of the world governing body FIBA banning Nigeria from global basketball.

With yet again two executive committees for the NBBF, it remains to be seen which of the boards the FMY&SD and FIBA will accept to work with.

Earlier in the day in Abuja, Igoche Mark who is the Patron of Mark Mentors basketball team and founder of the popular Mark D’Ball annual basketball Championships was pronounced winner of the NBBF presidency.

The electoral process which produced him was supervised by Mohammed Suleiman, who is the Vice Chairman of FCT Basketball Federation.

The North Central Representative,

Tunisia Sack Coach Who Led Carthage Eagles to Oust Nigeria Mondher Kebaier, the coach who led the Carthage Eagles to end Nigeria’s dream in the second round of the 2021 Africa Cup of Nations in Cameroon has been fired from the Tunisian job.

Tunisia were equally sent home in the quarter final by Burkina Faso.

The 51-year-old has been in charge of the team since August 2019.

The Tunisia Football Federation leadership was dissatisfied with Kebaier and asked him to take a walk from the job.

The TFF announced the

AFCON FALLOUT decision on Sunday, a day after the Carthage Eagles elimination from the AFCON. The North Africans lost 1-0 to the Stallions of Burkina Faso in their quarter-final clash at the Roumde Adija Stadium, Garoua on Saturday.

Kebaier’s assistant Jalel Kadri will take charge of the side for the two-legged play-off against Mali in March for a place at the 2022 FIFA World Cup in Qatar.

Dare Visits Sports-city, Pledges Early Completion of Rehabilitation Works The Minister of Youth and Sports Development, Mr. Sunday Dare, has assured sports stakeholders that the National Stadium in Surulere, Lagos will soon be completed to play host to sporting activities.

Speaking on Monday when he paid a working visit to the Sports-city the Minister said he was excited that since the scoreboard was functioning, the pitch regrassed, other facilities like the tartan tracks the VIP Lounge, spectators’ stands among others will soon be completed.

According to him “this facility was abandoned for many years.

The stadium, unlike the Abuja Stadium had zero maintenance fund for almost 17 years, but we got Chief Adebutu Kessington

to get it back to life.

“The time needed to ge it back to life is much longer than what the eyes can see. The underbelly of the pitch had to be excavated, new sprinklers installed because the old ones were either stolen or rotten.

“The 10-lane tartan tracks is to be started from the scratch because we listened to expert advice. The scoreboard took longer time to dismantle because it had become obsolete and had to be replaced with a new one.

“The decay at the complex has been on for too long. The person funding the work insisted on the right quality and the International standard before work started,” revealed the minister.

Mark polled 11 votes, while Osita Nwachukwu, representing South East Zone also polled 11 votes to emerge as Vice President.

Other zonal representatives on the board include; Mohammed Lawal Na'Allah (North West); Ibrahim Gimba(North East); Kingsley Aigbonaga (South South) and Josiah Amedu (South West).

Stanley Gumut emerged as the Players’ Representative, while Tope Oluwosulu (Paramilitary Representative) and Scot Nnaji (Technical/Coaches Representative) also made it to the NBBF board.

In Benin City, Kida was elected unanimously, polling 37 votes for a second term as NBBF president.

In the race for the Vice Presidency, Ogunade garnered 30 votes while Olumide Oyedeji got 7 votes with 28 states out of 37 states present at the congress monitored by FIBA ably represented

by Ahmed Elhariri (President of FIBA Zone 5 and member, FIBA Central Board) and Nigeria Olympic Committee' represented by its second Vice President, Engr Ishaku Tikon.

Anambra State Basketball Association Chairman, Ugo Udezue was voted in as the South East representative on the board while Alhaji Abba Kaka got the nod of the North East zone representatives.

Surajo Yusuff was elected as the North West representative while Adamu Jalong got the backing of the North West delegates In his acceptance speech, Kida thanked the delegates for the confidence reposed in him which is a challenge to do more after a successful first term in office "I thank you for the confidence reposed in me by your votes and my acceptance to continue to serve, I am in no doubt that the task ahead will be simple. However, no task is insurmountable if we put our minds to it and forge ahead together".

He called on all aggrieved stakeholders to sheath their sword as the board is opened to meeting everybody with genuine questions and contributions to enable the sport move in the right direction.

Others sworn in include Victor Okoro (Military/Paramilitary), Col

Samuel Ahmedu (International Representative), Prof Musa Yakassai (NapherSD).

But in his acceptance speech in Abuja, Igoche Mark insisted the ministry in the last communication directed that the election in the NBBF board should hold at the Moshood Abiola National Stadium in the Federal capital city.

He said the absence of observers from the ministry and FIBA would not render his election illegal.

"For me, it is exciting because for the first time, stakeholders came together to take the bull by the horn. They have resisted every attempt of imposition. This is time to build the game of basketball. I want all to come together and join in building basketball.

“Basically and above all, the basketball stakeholders are here and they are well represented, that is one. Also, the ministry, because of the problem and issues, decided to leave us to try and resolve it ourselves, which is for the stakeholders to try and come together and decide who should head the affairs of the NBBF,”

Mark noted.

He faulted the process used by Ahmadu Musa Kida and his faction in conducting the parallel election in Benin as completely wrong and illegal, while also allaying fear of impending sanctions by FIBA. Mark berated the Kida led board in the handling of players’ welfare and for failing to clear the backlog of the Tigress bonuses and allowances.

“We want to stand with the players and take their welfare seriously. We are also going to bring back the domestic basketball league and focus on grassroots development and infrastructure –we don’t have good arena to play the game. We will also try to unify the basketball family. As I said earlier, we are not at war—all that we want is basketball development to take precedent over people who are just interested in their selfish interest,” Mark declared.

He also said there should be no question about who will take charge of the running of international basketball between the two factions saying the election in Benin was illegal.

TRANSFER DEADLINE DAY

George Bello Joins Bundesliga’s Bielefeld from Atlanta Utd Duro Ikhazuagbe

Nigeria-born United States of America defender, George Oluwaseun Bello, yesterday joined German Bundesliga side, Arminia Bielefeld from Atlanta United on the last day of the winter transfer.

The German club announced on their official Twitter handle that the 20-year-old Bello signed a four and half years deal ending June 2026. Bello is to wear the No. 24 jersey at Bielefeld. The details of the deal were however not disclosed.

In an emotional message penned by George to Atlanta United’ fans in the MLS, he described his switch to Bielefeld as a new chapter in his career.

“Ever since I was a little kid, it has been my dream to play soccer at the highest level possible. In 2017, Atlanta United started me on the path to achieving that dream.

“Throughout my time with Atlanta United, there have been highs and lows, setbacks and victories, which have helped

George Bello... switched from Atlanta United to Arminia Bielefeld in the German Bundesliga... yesterday mould me to be the player and person I am right now.

“Today, I take one more step towards making that childhood

dream a reality. Thank you Atlanta, the best fans in MLS for your support, your love, and for cheering me on every step of this journey.....,” observed Bello in his message on Twitter to Atlanta United’s fans he’s leaving behind as he begins a new journey in the Bundesliga.

Bielefeld, which was promoted as second division champion in 2020, is 14th in the 18-team Bundesliga, just two points above the relegation zone.

“In George we’re getting a very fast and dynamic left back with a strong attacking drive,” Bielefeld coach Frank Kramer said yesterday. “He’s a good kid who brings that typical American enthusiasm and wants to make a difference.”

Atlanta said Bello is the club’s first homegrown player to play in one of Europe’s top five leagues.

“Each player has a different path in their development, but George is a shining example of one of those pathways that our club can offer,” Atlanta’s Technical

Director Carlos Bocanegra said.

Bello who was born in Abuja is named after his grandfather, Georgie. His father was an amateur footballer in Nigeria and helped Bello develop his interest in the game.

The former US Under- 17 star who joined Atlanta’s academy in 2016, made his MLS debut in 2018, and soon after scored his first goal against New England Revolution.

He made his breakthrough in 2020 with 20 games, all but one as a starter, then followed with 29 games in 2021.

Bello represented the United States at youth level before making his senior debut a year ago in a friendly against Trinidad and Tobago. He has since made another five appearances, including a start in the 2021 Gold Cup final win over Mexico.

His favorite soccer players growing up were Neymar and Lionel Messi but he also was interested in the left back and watched videos of David Alaba and Marcelo.

Tuesday, February 1, 2022

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UT H

& RE A S O

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Price: N250

MISSILE

Former Commissioner to Gov Wike

“The lie in the Rivers State Government rant is so obvious. It is simply not possible that a plane that was properly documented in the handover notes of the state ministry of transport (which I supervised as Commissioner to the incoming administration in 2015, can be said to be secretly abandoned? How? We can now all see that the issue is purely political and vindictive”---Rivers State former Commissioner of Transport, Tolofari George, debunking Governor Wike’s narrative on the Legacy plane in Germany.

TUESDAY WITH REUBENABATI Leadership Recruitment And Our Constitution F abati1990@gmail.com

emi Gbajabiamila, Speaker of Nigeria’s House of Representatives was the Guest Speaker at the 52nd Convocation Ceremony of the University of Lagos, his alma mater, on Monday, January 17, 2022.

The theme of the lecture was: “Building Back Better: Creating a New Framework for Tertiary Education in Nigeria in the 21st Century.” The Speaker had a lot to speak about but what has caught public attention is his declaration that the time has come to increase the academic qualification for persons seeking to lead Nigeria either as President or at other levels within the political space: in other words, the President, Governors, and members of the National Assembly. He argues at page 16, of his 22-page published presentation, that just as the National Assembly reduced the minimum age of eligibility for public office, in response to the “Not Too Young To Run Campaign”, there would be a need to also review the mandatory academic qualification for persons aspiring to high offices, in order to enhance the quality of candidates who elect to lead Nigeria. I agree with the Speaker of the House of Representatives. My only concern is that in the face of a yet to be concluded amendment of Nigeria’s Electoral Act, he as Speaker of the Blue Chamber, has not yet raised it on the floor of the Assembly or cause it to be raised, in line with parliamentary procedures. He has chosen the platform of a public speech, and even more surprising is the fact that since he raised the subject, there has been very little attempt to amplify his viewpoint which I think is very relevant to current attempts to deepen Nigeria’s electoral system. My own take is that Gbajabiamila has raised a very fundamental question about Nigeria’s leadership recruitment process. Who should lead Nigeria?

Who is best qualified to do so? The Speaker said that current provisions in Section 131 of the 1999 Constitution are no longer relevant in the 21st Century, and that the limits set therein are too low.

Section 131 of the 1999 Constitution simply says that “a person shall be qualified for election to the office of President if: (a) he is a citizen of Nigerian by birth; (b) he has attained the age of forty years; (c) he is a member of a political party and is sponsored by that political party; and (d) he has been educated up to at least School Certificate level or its equivalent.” Section 142 states the same provisions with regard to the office of the Vice President. The same provisions apply to other elected positions except with regard to the age of qualification as indicated in Section 65 (2(a) for candidates seeking election into the National Assembly, Section 106 (c) for the State House of Assembly and Section 187(2) for Governors and Deputy Governors. In section 137, the Constitution outlines the grounds for disqualification. But Gbajabiamila’s concern is about Section 131(d) and the insistence on “School Certificate and its equivalent” in the 21st century. What does this mean exactly, in today’s Nigeria? The answer is provided in Section 318 (1) of the 1999 Constitution, which is the Interpretation Section. Here it is expressly stated that in fact a Primary Six School Leaving Certificate is enough for anybody to aspire to any political office in Nigeria. Even the equivalent of a Primary School Leaving Certificate would be considered good enough. Section 318 defines “school certificate and its equivalent” as (a) secondary school certificate or Grade II Teacher’s Certificate, the City and Guild’s Certificate or (c)Primary School Leaving Certificate or its equivalent and -(i) service in the public or private sector in the Federation in any capacity acceptable to the Independent National Electoral Commission for a minimum of ten years, and (ii) attendance at courses and training in such institutions as may be acceptable to the Independent Electoral Commission for periods totaling up to a minimum of one year, and (iii) the ability to

Gbajabiamila read v, write and understand and communicate in the English language to the satisfaction of the Independent Electoral Commission, and (d) any other qualification acceptable by the Independent National Electoral Commission.

Thus, the Nigerian Constitution has created a liberal and accommodating situation whereby anybody at all can occupy important political positions in the country, and lead a country where the youths and others are some of the most vertically and horizontally educated persons in the world.

Nigeria’s educated elite has no problems with education, the problem is that the educated ones run away from politics, when they attempt to be part of it, they are labeled and stigmatized, and so we have a country where the uneducated, the ignorant who have cash in their pockets, influential Godfathers, and the courage to hire social media noisemakers, who are even doubly ignorant, are the ones dictating the country’s pace. Within the purview of the extant law, no Nigerian political aspirant is required to show proof of having passed the School Certificate Examination or its equivalent. An F9 parallel in all subjects is considered perfect, even a concocted testimonial from a primary school or a secondary can take any Nigerian to the highest levels of government.

That is even going too far. Some dubious proof of attendance at one or two seminars is enough, once the Electoral Commission says it is okay. In fact a certificate is not even required as we have seen in the case law on the subject. So why should anyone be surprised that half of the people who get elected to the National Assembly simply go there to sleep or that Governor behave like tyrants and that some State Houses of Assembly rarely meet except when money is to be shared?

Gbajabiamila thinks this is not good enough.

So, why has he not raised it where it matters?

Why is minimum qualification for elective office not one of the issues in the ongoing debate about the Electoral Act Amendment? Going to UNILAG to run his mouth sanctimoniously is hypocritical.

Indeed, as he pointed out, and let us help him deodorize the point, Nigeria cannot continue to recruit the uneducated, the ignorant, the sleepy, rambling wing of society to lead it into the future.

This of course is not new. Once upon a time in this country, a matter was taken all the way to the Supreme Court over qualifications and the apex Court ruled that the Constitution recognizes something called RSM (whatever that is) as the equivalent of a School Certificate as long as it is acceptable to the Electoral Commission. In another case, when the issues of qualification came up, the Court ruled that a candidate for an election does not even need a certificate. That is how this country has been elevating persons in ishiagu, Babariga and flowing agbada to go and make laws and design policies that they know nothing about. Gbajabiamila as Speaker of the House of Representatives must have seen the danger up close. He presides over a House of Representatives where at least one member has paraded his four wives as an illustration of his male virility and has also had the effrontery of announcing the birth of his 28th child as a major contribution to national progress. Hon. Al Hassan Ado Doguwa, House Majority Leader, is threatening to produce up to 30 children before the next general elections and he wants the Nigerian Government to classify his home as a polling unit if he achieves the feat.

Gbajabiamila presided over that session. He turned it all into a joke.

And that is precisely our problem. We think leadership is a Nollywood episode. When the President’s qualification became an issue in the 2019 election, the Nigerian Army showed up in court to make the claim that the Army does not keep the certificates of its recruits. In other parts of the world, former soldiers who have made sacrifice for the country are treated with respect and exemptions may be made for them, but the risk we run which the House of Representatives Speaker may be alluding to is that in the 21st Century, Nigeria may end up electing into high offices persons who may know next to nothing about climate change, global trade, artificial intelligence and the internet of things and they will go abroad and sit with better educated persons and end up disgracing all of us. It is a problem also with the country’s value system. Wealth, no matter how ill-gotten, has become more important than everything else.

With the way the aforementioned sections of the Nigerian Constitution are constructed, we may one day elect into office, touts and all kinds of characters who would not be fit enough to represent the country internationally. We elect holders of “school cert or its equivalents” and yet we still worry about the poor attention that is paid to education in Nigeria, the rank anti-intellectualism that pervades the land, and the perpetual conflict between the educated and the monied elite in our land? To be a big man in Nigeria, you only need to attend a seminar and communicate in English, and the English you speak may not even be good enough for you to get an exemption for IETLS from the UK Home Office or for TOEFL from US Education Authorities.

Our argument: as 2023 approaches, is that we cannot afford to elect into positions, persons with “school certificate or its equivalent”. That has to change. Gbajabiamila, even if he has been negligent on the subject is right. We cannot afford to send to international platforms, persons who do not know the difference between foreign exchange and interest rate, or what is called diaspora remittances. The kind of avoidable leadership recruitment crisis that this country has faced so far must come to an end. I am not asking for a collection of certificates. A graduate degree would be enough. The assumption is that a Nigerian graduate would at least have enough sense to read up on what he or she may not know, and ask the relevant questions. But it is not enough to be a graduate also. That graduate must have necessary cognate experience in either the public

or private sector. I recommend a minimum of 10 years. A Nigerian university graduate who has been sitting at home doing nothing significant, should not be allowed to suddenly show up to seek high office. That is not what we are talking about. This is not about paper qualification, but a kind of training that guarantees the ability to think.

Mexico once insisted on educated economists, Ph. D holders running its system. The 60th President of Mexico (1988 – 1994), Carlos Sarlina de Gortari had a Ph.D from Harvard’s Kennedy School of Government. He was an economist and an apostle of free market ideas. Ernesto Zedillo was Mexican President from December 1994 to 30 November 2000. He had a Ph.D in Economics too, but the economy failed under his watch. There was also Enrique Pena Nieto (EPN), the 64th President of Mexico (2012 – 2018) who was sometime down the line accused of plagiarism in his academic thesis. It must also be noted that between 1958 and 1988, every President of Mexico was a law graduate. Their successors were similarly well educated. The eggheads of Mexico did not make much difference. In other words, strong academic qualifications may not make up for such other factors as emotional intelligence, maturity, integrity and character that may be central to the making of a political leader. That notwithstanding, it is certainly not the same when you compare the group of incompetents and strange bedfellows that occupy the policy heights of the Nigerian economy.

We need a new orientation. We need to pay attention to how we recruit leaders in Nigeria. The National Assembly must take a second look, or should have taken another look at Section 131(d) of the 1999 Constitution. Touts speak English.

Yes. Thugs have access to school headmasters who can prepare testimonials and affidavits. In Nigeria - yes. The country’s Electoral Commission will accept any “equivalent”. Oh, yes. It is just too easy in Nigeria for anyone to become a major political stakeholder. The bar for legitimate political ascendancy is too low! We are already witnessing that in the traditional institutions where all sorts can wear beaded crowns. Within the larger arena, there must be due respect for minimum standards. The irony is written larger as follows: Under Nigeria’s Public Service Rules, nobody can be recruited as an Administrative Officer (AO) without a university degree or its equivalent, and yet, in the same country, the Constitution says a Primary School Certificate holder is good enough for the highest positions available in politics! Gbajabiamila failed the test when he took his opinion to the 52nd Convocation anniversary of the University of Lagos. He probably did not want to offend his colleagues in the National Assembly whose qualifications he knows cannot be vouched for, many of them don’t have the School Certificate that is the minimum. They can’t even provide the equivalent! And yet these are the same people making laws and taking decisions on behalf of the millions of well-read and capable Nigerians who stay away from Nigerians politics because they don’t want to mix and mingle with a certain Nigerian type with whom you can’t even have a simple conversation on anything. Why are we like this? Is it still possible to save Nigeria’s 2023 from the charlatans?

Is it too late? Nobody knows. The National Assembly has transmitted the re-amended Electoral Act Amendment Bill to President Muhammadu Buhari for his second consideration in accordance with Section 58 (3) of the 1999 Constitution. There are issues about mode of primaries, but there is this other big issue about a political system that recruits persons with “equivalents” in the 21st Century. The persons with “secondary school and its equivalents” are part of the problem with Nigeria.

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