WEDNESDAY 2ND FEBRUARY 2022

Sylva Doubts Nigeria’s Petrol Consumption Figures, Says Numbers Crazy, Opaque Elumelu raises concerns over $4bn oil theft, insists its national disgrace James Emejo and Emmanuel Addeh in Abuja

The Minister of Petroleum Resources, Mr Timipre Sylva, yesterday expressed doubts over

Nigeria’s daily petrol consumption figures, describing them as crazy and opaque.

The minister who appeared on the Nigerian Television Authority (NTA), a government-owned

broadcast station, in apparent frustration, noted that there’s nothing that needed to be interrogated

that had not been questioned on Continued on page 16

INEC: Proliferation of Small Arms, Light Weapons, Hard Drugs, Insurgents, Threat to 2023 Elections… Page 48 Wednesday 2 February, 2022 Vol 27. No 9794. Price: N250

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Moody’s Forecasts Phased Fuel Subsidy Removal will Pose Challenge to Incoming Govt... Page 8 Attempted Coup in Guinea-Bissau Sends Jitters Across Africa

Analysts call for new ECOMOG to protect democracy

Michael Olugbode in Abuja with agency report

L-R: Widow of deceased, Mrs. Magret Shonekan; children of the deceased, Mr. Adeboye Shonekan; Mr. Adeyinka Shonekan; Ms Aderinola Shonekan; Ms. Adenike Shonekan and Ms. Adekemi Olateju, during the Service of Songs in honour of former President, Interim National Government, Late Chief Ernest Adegunle Shonekan, held at Cathedral Church of Christ in Lagos...yesterday PHOTO: MUBO PETER

There was apprehension in Bissau, the capital of Guinea-Bissau Continued on page 16

To Stem HIV Tide, Buhari Launches N62bn Trust Fund to Fight Disease Dangote pledges private sector support

Onyebuchi Ezigbo in Abuja President Muhammadu Buhari launched a N62 billion trust fund yesterday in Abuja aimed at curtailing the scourge of the Acquired Immunodeficiency Syndrome (AIDS) in Nigeria.

The fund would also help to place more people living with the Human Immunodeficiency Virus (HIV) on treatment annually.

Chief Launcher and Chairman/ Chief Executive Officer of Dangote Continued on page 16

FBN Holdings Appoints Geregu Power ED, Omodayo-Owotuga JOINING FORCES TO FIGHT HIV...

Managing Director, Julius Berger Nigeria Plc, Dr. Lars Richter; Director General National Agency for the Control of AIDS, Dr. Gambo Aliyu; US Ambassador to Nigeria, as Non-executive L-R: Mary Leonard; Chairman, Shell Group of Companies in Nigeria, Mr. Osagie Okunbor; Chairman, Dangote Group of Companies, Alhaji Aliko Dangote; GMD/CEO Access Bank Director... Page 10 Plc, Dr. Herbert Wigwe and CEO Total Energies, Mr Mike Sangster, during the launch of the HIV Trust Fund of Nigeria at the Presidential Villa in Abuja... yesterday

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

THE HIV TRUST FUND...

L-R: President Muhammadu Buhari, Secretary to Government of the Federation, Mr. Boss Mustapha; Chief of Staff, Prof. Ibrahim Gambari, and Minister of FCT, Mallam Muhammed Musa Bello, during the launch of the HIV Trust Fund at the State House Abuja... yesterday PHOTO: SUNDAY AGHAEZE

Emefiele Inaugurates N15bn Rice Milling Factory in Kano Ibrahim Shuaibu in Kano Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday inaugurated the ultra-modern 420 metric tons per day capacity rice milling factory in Kano State.

Speaking at the occasion, Emefiele said the establishment

of the factory was in line with the federal government's commitment towards ensuring food security in the country. He urged rice mills owners to be involved in paddy production for sustainable supply through partnership with the Rice Farmers Association of Nigeria (RIFAN).

Emefiele stated, "As we increase

the milling capacity of rice nationwide, we are encouraging all rice mills to embrace our backward integration programme and get involved in paddy production to guarantee sustainable supply of paddy to your mills and complement the supply from smallholder farmers.

"The private sector-led Acceler-

ated Agriculture Development Scheme provides long-term financing options to millers to finance commercial farms, land development, irrigation facilities; and other agricultural infrastructure that will enhance the production plan."

He disclosed that the quality of milled Nigerian rice could match

MTN’s Public Offer Oversubscribed by 139% Women lead in digital subscription, telco’s shareholding reduced by 3.25% Emma Okonji The Series 1 offer for sale of 575 million shares held by the MTN Group to Nigerian investors, which held last December, has been successfully completed and was oversubscribed by 139.47 per cent. This was an additional 82.25 million MTN Nigeria shares.

A statement from the telecommunication company explained that the oversubscription raised the initial number of shares sold from 575 million to a total of 661.25 million shares.

The offer was implemented by way of a book-build to qualified institutional investors and a fixed price offer of N169.00 per share to retail investors.

According to the statement, the breakdown of the sale showed that approximately 76 per cent of successful applicants via digital platform were women, while 85 per cent of the sale was from persons under 40 years of age.

Following the successful completion of the offer, “MTN Group’s shareholding in MTN Nigeria reduced by 3.25 percentage points, from 78.83 per cent to 75.58 per cent.”

According to the statement

by MTN Nigeria, signed by the Company Secretary, Uto Ukpanah, the offer was oversubscribed with valid applications for a total of 801.97 million units, leading to the activation of the approved 15 per cent over-subscription clause of an additional 86.25 million MTN Nigeria shares.

It said, “In all, 661.25 million MTN Nigeria shares were allotted.

A total of 126,720 retail investors submitted valid applications and received full allotment.

“Institutional investors, including pension funds, insurance companies, asset managers, corporates, and foreign portfolio investors that participated in the book-build were allotted 72.09 per cent of their applications. This includes Nigerian pension funds representing approximately 6.5 million Nigerian contributors.

“In line with the innovative incentive structure of 1 free share for every 20 purchased, subject to a maximum of 250 free shares per investor, an additional 4.28 million MTN Nigeria shares will be allotted to qualifying investors who hold the shares allotted to them for 12 months till 31 January 2023.”

The statement also said MTN Group adopted a unique structure in the offering by determining a fixed price of N169 per share for the retail offer through a bookbuild to qualified investors that was completed on November 26, 2021. The fixed price offer to retail investors was at a discount of 11 per cent to the closing price of MTN Nigeria stock on the day the book-build was completed.

The offer commenced on December 1, 2021, and was completed on December 14, 2021.

Nigerian investors across the country supported the Offer through multiple channels Receiving Agents, Issuing Houses and Primary Offer (a digital application platform).

MTN said, “The offer is a landmark transaction and a true

reflection of Nigerian investor confidence in MTN Nigeria. It marks the first time a digital application platform was used to democratise investing in a public offer and maximise investor participation across the country.

“More than 89 per cent of retail offer subscribers applied through the Primary Offer platform (mobile and web), and 114,938 new Central Securities Clearing System (CSCS) accounts were opened by first-time investors.”

CEO of MTN Group, Ralph Mupita, said, “We are pleased that this offer has given so many Nigerians the opportunity to become owners of MTN Nigeria.

“With over 6.6 million Nigerians directly or indirectly becoming shareholders in MTN Nigeria, the objective of broadening the shareholder base, and creating shared value has been achieved.

We are proud that our offer was the first Nigerian public offer to use the digital application platform, primary offer, which enabled wider investor participation across Nigeria. We thank the Nigerian authorities for their support of this offer. We remain committed to playing our humble role in driving digital and financial inclusion in Nigeria over the medium.”

Commenting on the offer, the CEO of MTN Nigeria, Karl Toriola, said, “We are delighted to welcome so many new shareholders to the MTN family, up 11.6 times from the number before the offer.

“It has been inspiring to see so many Nigerians, many of whom are young, acquire shares for the first time, and use

a digital platform to do so. This is the beginning of a journey to broaden our shareholding and there will be more opportunities to participate.

“We are pleased with the level of digital innovation we championed with this offer with the active collaboration of our lead issuing house and the various regulatory bodies. Deepening retail participation in Nigeria’s capital markets is a process, and we are off to a great start, demonstrating the role digital platforms can play in expanding access.

“I am particularly pleased that we completed this transaction in an accelerated time frame ensuring new shareholders can realise value almost immediately through participation in our 2021 full-year dividend.

“I would specifically like to thank the Minister of Communications and Digital Economy, Dr. Isa Ibrahim Pantami, the Nigerian Communications Commission and the wider federal government for the opportunity to execute this Offer.

“I thank the Securities and Exchange Commission, the Nigerian Exchange Limited, the CSCS, and all the parties involved for their support in delivering this ambitious Offer structure.

“I also appreciate our staff who worked tirelessly with our advisers on this project. Most of all I would like to thank our new shareholders for having confidence in us and in our future. We are delighted to have you on board for this journey to building a digital future together.”

others produced in other parts of the world.

"As Nigerians, we need to become more patriotic and embrace Mr. President's mantra of producing what we eat, and eat what we grow," he said.

Emefiele noted that prior to the introduction of the Anchor Borrowers’ Programme in Nigeria, there were less than 10 functional rice-milling plants in the country, with a combined capacity of 350,000 metric tons.

"These have increased to over 60 integrated mills, with combined capacity of over three million metric tons, as at today, with about 10 more mills scheduled to be commissioned this year," he said.

In his remarks, Kano State Governor, Mr. Abdullahi Ganduje, said the state was surrounded by dams and rivers, which gave farmers ample opportunity for

growing rice, tomato, and other crops. Ganduje assured that his administration would continue to provide an enabling environment for farming and business activities in the state.

Ganduje revealed that the new rice mill would assist in creating jobs and boost the economic status of people in the state.

The governors of Jigawa and Kebbi states, Badaru Abubakar and Atiku Bagudu, respectively, attended the ceremony. They thanked Buhari for introducing the Anchor Borrowers’ Programme to guarantee food security.

Chairman, Gerawa Rice Mill, Alhaji Isa Gerawa, thanked the CBN for supporting him to establish the factory at the cost of N15 billion. Gerawa said the rice-milling factory would go a long way in reducing unemployment and ensuring food security in the country.

After Years of Silence, Ambode Urges Youths to Prepare for 2023 Emmanuel Addeh in Abuja The immediate past governor of Lagos State, Akinwunmi Ambode, yesterday urged the youth in Nigeria to get their Permanent Voters Cards (PVC) and prepare for the upcoming general election.

Ambode appreciated the people of Lagos for “overwhelmingly” endorsing his contributions to the development of the state, saying with the youth fully aware of the enormous power they wield, things can only get better for the people of the state.

According to the 58-year-old All Progressives Congress (APC) stalwart, in messages relayed on his Twitter and Facebook accounts, the power to determine the future rests squarely in the hands of young people.

Ambode stated, “After all we have been through, God has been faithful. Thank you for the overwhelming endorsement of our modest contributions to the growth of Lagos.

“It can only get better for Lagos, and, indeed, Nigeria. The youths

are coming. The power is in their hands. Go and get your Permanent Voters Card (PVC) ready. Your future is NOW!” The former Lagos governor has been very reticent since he left government in 2019 after he failed to get the APC’s ticket for re-election. He has rarely made public statements and is seldom seen at political events.

Ambode served as governor of Lagos State from 2015 to 2019 and lost his re-election to Babajide Sanwo-Olu, becoming the first governor since 1999 to occupy office for just a single term in the state.

Ambode succeeded the current Minister of Works and Housing, Babatunde Fashola, who was Lagos governor between 2007 and 2015, while Bola Tinubu was governor from 1999 to 2007.

He fell out with Tinubu, his alleged godfather at the time, a development that cost him the party’s ticket. Although he has not indicated his interest to run in 2023, Ambode is still constitutionally allowed another term of four years.

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FOR BUSINESS GROWTH IN AFRICA...

L-R: Founder/CEO, Platform Capital, Mr. Akindele Akintoye; Founder, Sogato Strategies, Mr. Kingsley Moghalu; Lagos State Governor, Mr. Babajide Sanwo-Olu; Publisher, Business Day Newspapers, Mr. Frank Aigbogun and Co-Founder of IHS Towers & CEO, IHS Nigeria, Mr. Mohamad Darwish, during the opening of the 2022 Africa Business Convention, at the Eko Hotels and Suites, Victoria Island, Lagos...yesterday

Moody’s Forecasts Phased Fuel Subsidy Removal will Pose Challenge to Incoming Govt States economy susceptible to shocks without more revenue Emmanuel Addeh in Abuja One of the leading global ratings agencies, Moody's has predicted that the phased removal of subsidy paid on petrol in Nigeria will pose challenge to incoming government.

In its latest report on the recent issues surrounding fuel subsidy in Nigeria, the company also noted that without reforms to significantly increase its revenue, the Nigerian government’s balance sheet would remain exposed to further shocks.

Minister of State for Petroleum Resources, Timipre Sylva, had last week denied insinuations that since the federal government backed down on its plan to enforce price deregulation in the downstream sector, it might soon embark on a gradual subsidy removal.

But stressing that the ability of the Nigerian government to increase capital spending in a sustainable manner would be very challenging, Moody’s noted that the decision of the government to postpone removal of oil subsidies was credit negative.

The firm projected, “Ending oil subsidies will remain challenging even after a new president and a new administration are elected early next year. We expect that subsidies will eventually cease, but their withdrawal will only be implemented very gradually.”

But it explained that the costly fuel subsidy had historically been a key driver of Nigeria's significant fiscal deficits and accelerated deterioration in its public finances.

In addition, the report stressed that the policy reversal also illustrated Nigeria’s weak institutions and limited capacity to implement challenging reforms.

The elimination of petrol subsidy had been envisaged for more than a decade by successive Nigerian administrations, but this time, to further guarantee

its implementation, the reform was put into the Petroleum Industry Act (PIA) signed into law in August 2021.

Implementation of the PIA, which stipulates the removal of petrol subsidy, was initially meant to commence in February 2022, but it was later shifted to July 2022.

However, due to pressure and threat of protest by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), the removal of subsidy was suspended for about 18 months, which means that the incoming administration in 2023 would bear the burden.

According to Moody’s, fuel subsidy generally weighs heavily on Nigeria’s public finances, especially when international oil prices are elevated, as the Nigerian National Petroleum Company (NNPC) deducts total cost of subsidy from oil profits before transferring them to the government's Federation Account.

The ratings company stated, “We estimate the cost of oil subsidies – which are in fact forgone revenue – at around N250 billion a month or N3 trillion a year, equivalent to 1.6 per cent of Gross Domestic Product (GDP) and almost 25 per cent of general government revenue in 2021.

“The cost is even more burdensome because, according to our estimates, Nigeria’s general government revenue was only 6.8 per cent of GDP in 2021, one of the lowest among rated sovereigns for years.

“Although oil proceeds historically account for more than 50 per cent of annual government revenue, the rising cost of oil subsidies increasingly limits the recovery in government revenue when international oil prices rebound. Forgoing revenue is detrimental to Nigeria’s public finances and fiscal consolidation efforts.”

The report pointed out that between 2016 and 2021, general government fiscal deficits averaged 5.1 per cent of GDP, which it said was very high compared with the average government revenue of 6.9 per cent of GDP over the same period.

It disclosed that consequently, general government debt rose to 31 per cent of GDP in 2021, from 16.9 per cent in 2016, with the country’s debt affordability metrics also deteriorating significantly as interest payments consumed a third of total revenue in 2021.

Moody’s stated, “Since the reelection of President Muhammadu Buhari in 2019, the government has embarked on an ambitious plan to increase revenue towards 15 per cent of GDP in the medium term.

“Although achieving its target was unlikely in our opinion, the

removal of the oil subsidies was a major component of the plan.

Without reforms to significantly increase its revenue, the government’s balance sheet will remain exposed to further shocks and the ability to increase capital spending in a sustainable manner will be very challenging.

“The country's currently weak public finances limit the authorities' ability to tackle its structural bottlenecks, which is crucial to ensure the country's economic development. For example, poor infrastructure – particularly for electricity and energy supply – has constrained productivity.”

In the opinion of the rating agency, although the removal of subsidy would support government revenue, lack of subsidy would increase fuel prices and lead to inflation. Furthermore, higher

fuel prices would adversely affect the most vulnerable section of the population, given that inflation was around 15 per cent at the end of last year, it stated.

The company said, “In addition, removing the subsidies was a challenging reform in the penultimate year of the current administration’s term. To counter its social impact, the government planned to give cash transfers of N5, 000 to as many as 40 million people each month for six to 12 months, beginning in July 2022.”

But the report said the commissioning of the Dangote refinery, in 2023 would help the gradual transition to phase out subsidy because the project would drastically reduce the dollar-denominated demand to import refined petroleum products.

In the last quarter of 2021,

Moody’s changed its outlook on Nigeria to stable from negative and affirmed its long-term issuer and senior unsecured ratings at B2. The firm also affirmed Nigeria’s (P) B2 senior unsecured medium-term note programme rating.

At the time, it said the change of outlook to stable reflected Moody’s expectation that higher oil prices and some measures taken by the government will help stabilise the sovereign’s credit metrics and support its external position.

“The on-going improvements in the macro-economy and the external position are likely to continue in the next few years, supported by the oil price environment, Nigeria’s new Petroleum Industry Act legislation and the opening of the Dangote refinery that will structurally reduce demand for US dollars.”

32 Months After, US Reintroduces Limited No-interview Visa Renewal in Nigeria Segun James The United States Mission has said that it would expand visa services to assist nonimmigrant visa applicants in Nigeria who qualify to renew their visa.

This new application procedure would begin this month at the US Consulate in Lagos and would be extended shortly thereafter to the US Embassy in Abuja.

However, the Mission said the number of qualified applicants who could apply using the new procedures would be limited initially.

According to the US Mission Country Consular Coordinator in Nigeria, Ms. Susan Tuller, who spoke during a media briefing at the Consulate General in Lagos,

"You may be eligible for a visa renewal without an interview if your application is for a B1/B2, F, M, J (academic only), H, L or C1/D (combined only) visa, and you meet each of the following criteria: Your previous visa was issued in Nigeria; your previous visa is in the same classification as your current application; your previous visa was a full validity, multiple entry visa; and that your previous visa expired within the last 24 months or will expire in the next 3 months from the date of application."

Tuller also said the conditions included that, "you have all your passports covering the entire period since receiving the previous visa and the passport with the most recent visa; you have never been arrested or

convicted of any crime or offense in the United States, even if you later received a waiver or pardon; and you have never worked without authorisation or remained beyond your permitted time in the United States."

The Mission asked all eligible persons to, "see our website at https://ng.usembassy.gov/visas/ nonimmigrant-visas/ for further information.

"If you are qualified based on the above criteria, visit https:// www.ustraveldocs.com/ng to start your application."

The mission however made it clear, "that processing times for the program are expected to be up to two months and you will not be able to retrieve your passport during that time. Each applicant must individually meet

the criteria; minors can apply without an interview only if they meet the eligibility criteria on their own."

Tuller said those with a life-ordeath emergency may request an expedited, in-person interview, to accommodate no-interview visa renewals, appointments will be very limited.

"Business travel, conferences, weddings, and graduations are not considered emergencies.

“Third parties unaffiliated with US. Embassy Abuja and Consulate General Lagos may seek to take advantage of various visa services to target visa applicants with fraudulent offers or claims. Applicants should fill out their own forms and make their appointments themselves via the official websites."

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COURTESY CALL TO STATE HOUSE BY BILL AND MELINDA GATES FOUNDATION ...

L-R: President of the Bill and Melinda Gates Foundation, Chris Elias; Vice President Yemi Osinbajo, SAN; President, Dangote Foundation, Alhaji Aliko Dangote and Minister of Health, Dr. Osagie Ehanire, during the visit of Mr. Elias to the State House, Abuja... yesterday

El-Rufai: There’s No Phenomenon Like Repentant Bandits, Terrorists No legitimate govt can survive tolerating or negotiating with criminals Wants theatre command established in northwest 1,192 persons killed, 3,348 abducted in state in 2021, says report John Shiklam in Kaduna The Kaduna State Governor, Mallam Nasir El-Rufai, yesterday tore into shreds, a federal government initiative, which supported reabsorbing criminals dubbed ‘repentant bandits and terrorists’ into the system, saying his government did not believe there was any phenomenon so identified.

According to the northwest governor, no legitimate government could survive, tolerating terrorists or negotiating with those, who constituted menace to law-abiding citizens.

Speaking yesterday after receiving the annual security report for 2021, at the Government House, Kaduna, El-Rufai said any person,

who made a conscious decision to secure arms, challenge the authority of the Nigerian state and threaten the lives and property of Nigerians, did not deserve to live or be granted any concession by the society.

The governor, however, appealed to the federal government to create a theatre command similar to the situation in the North-East to confront the insurgency that has emerged in five states of the North-West and Niger state.

This was because according to the report presented by the Commissioner for Internal Security and Home Affair, Samuel Aruwan, a total of 1,192 people were reportedly killed in the year under review while 3,348 others were kidnapped by bandits across the state.

According to El-Rufai, “The creation of such a Theatre Command will enable holistic approach to counter-insurgent operations across the six affected states and the enhanced coordination of the resources of the armed forces, the police, the SSS, our respective state vigilance Services, hunters and other local volunteers to fight the insurgents.”

While calling for urgent national effort to strengthen the security forces and stressing that the military as well as the police needed modern technology, advanced armaments, equipment and more boots on the ground, the governor maintained that the security of communities depended on the robust projection of state power, which could only

FBN Holdings Appoints Geregu Power ED, Omodayo-Owotuga, as Non-executive Director Deputy Chief Executive of Geregu Power Plc and previously Group Executive Director, Finance and Risk Management of Forte Oil Plc (now Ardova Plc), Mr. Julius B. Omodayo-Owotuga, has joined FBN Holdings’ Board as a NonExecutive Director.

The appointment followed the approval of the Central Bank of Nigeria according to the notification sent by the company secretary to the Nigerian Exchange Limited (NGX).

According to a statement yesterday, Omodayo-Owotuga is a finance expert with huge experience in finance, risk management, treasury, internal controls, general administration, procurement, and information technology.

It further explained that while at Forte, he was a member of the Executive Management team, “that restructured a then moribund company into a vibrant industry player. He equally led the capital restructuring, acquisitions, debt capital raise, maiden credit rating, and divestment initiatives.

“Prior to joining Forte Oil Plc, he had responsibility for the Asset and Liabilities Management function at the Africa Finance Corporation.”

The statement added regarding Omodayo-Owotuga, “He is a

Omodayo-Owotuga KPMG trained finance professional who possesses extensive investment experience spanning financial services, power and oil and gas sectors with a proven track record of significant achievements.

His two decades work experience spans blue chip companies such as KPMG, Standard Chartered Bank, Africa Finance Corporation (AFC), Forte Oil Plc, MBC International Bank (Now First Bank of Nigeria Limited), and Geregu Power Plc. “JB is an alumnus of Oxford University’s Said Business School, United Kingdom, IE Business School, Madrid, Spain and the University of Lagos, Lagos, Nigeria.

He has a B.Sc. in Accounting and a Masters in Business Administration (with distinction). He is a CFA Charter Holder; a Fellow of The Institute of Chartered Accountants of Nigeria (ICAN), The Chartered Institute of Taxation of Nigeria (CITN) and The Institute of Credit Administration.”

Chairman of Geregu Energy Group and billionaire businessman, Mr. Femi Otedola, is the single largest shareholder in First Bank.

He had debunked speculations that he was interested in holding a board position in FBN Holdings, the bank or any of the subsidiaries.

Otedola said, “I am simply an investor who saw an opportunity in the financial institution and decided to take advantage of it through the investment I have made. My interest, contrary to speculations, is not to become chairman of the bank or its holding company (Holdco). Moreover, I am in semi-retirement.”

He said the hallmark of any good investor is to see opportunities where others do not, stressing that he is convinced that FBN Holdings has a bright future, and is strong, and solid and would remain a dominant player in the Nigerian financial services sector in the foreseeable future.

be done with sufficient security personnel to subdue and deter criminals.

El-Rufai said, “The prerogatives of the state need to be asserted, not merely proclaimed. The people we put in uniform must never be placed in avoidable danger, outgunned or outnumbered by non-state actors. It is when the terrorists are decimated that ‘soft’, non-kinetic peace building will gain traction.

“While the security agencies keep trying their best, the peacemakers on the ground should not be discouraged. Peace is worth every effort, despite the setbacks encountered.

We’ll continue to emphasise that as a state government; we do not believe that there is any phenomenon like ‘repentant bandits’.

“Any person that makes a conscious decision to secure arms, challenge the authority of the Nigerian state, and threatens the lives and property of Nigerians does not deserve to live, or be granted any concession by the society. There are no immediate or remote causes to justify terrorist conduct.

“Those that hide behind these are either ethnic jingoists, religious apologists or fail to recognise that no legitimate government can survive by tolerating terrorists or negotiating

with those that menace law-abiding citizens.”

The governor, however, condemned the escalation of violence in Zangon-Kataf Chiefdom, which according to him, “appears to be rapidly spilling into the Chawai part of Kauru Local Government. We condemn the disregard for human life and the violations of law that are fuelling the crisis.

“We sympathise with the affected communities. This outbreak of violence is a serious challenge to the community level peace process initiated by His Highness, the Agwam of Zangon Kataf and community leaders in the area,” the governor said.

He said the security report contained hard data, which reflected the pains inflicted on people across the state by criminals and outlaws, as well as provided background and an update on the steps being taken by the Kaduna State Government to manage the security challenges “The report presented today shows that in 2021, an average of 9 persons were kidnapped daily across Kaduna State, mostly in the Kaduna Central senatorial district. There is also an escalation in the number of persons killed by a whopping 255 compared to those sadly killed by banditry and

criminality in 2020 in spite of our best efforts in supporting the federal security agencies to bring an end to this phenomenon.

“As we digest these sad statistics, we pray for the repose of the souls of those killed, pay tribute to the victims of various crimes, reiterate our solidarity with them, and reaffirm our resolve to continue to protect our people, and stop the criminals…” El- Rufai said.

Continuing, he explained that, since 2015, the state government had supported the federal security agencies deployed to the state with vehicles and other logistics.

Presenting the report earlier, Aruwan disclosed that a total of 1,192 people were killed while 3,348 others were kidnapped by bandits across the state in 2021.

He also said 891 people sustained varying degrees of injuries as result of bandits and communal attacks during the period, adding that 45 women including 29 minors were raped in the state.

The commissioner said a total of 13,788 cattle were rustled in 2021, stressing that Kaduna Central Senatorial District topped the list of victims with 720 deaths while Southern Kaduna and Kaduna North Senatorial Districts recorded 406 and 66 deaths respectively.

FG Approves Emirates Operations to Nigeria Chinedu Eze The federal government has given approval for Dubai-based Emirates Airlines to resume flight operations to Nigeria anytime, just as Air Peace has indicated that it would resume operations to Dubai from March 1, 2022.

This was contained in a letter written by the Nigerian Civil Aviation Authority (NCAA) and addressed to His Excellency, Saif Mohammed Al Suwaid, Director General, UAE General Civil Aviation Authority dated February 1, 2022 with reference: NCAA/ DG/CCAA/20/16/119.

In the letter, which was signed

by NCAA Director General, Captain Musa Nuhu, titled: ‘Re: Operations of Flights-UAE/Nigeria VV-COVID-19 Safety Decision

Issue 24,’ it stated that the safety issue 24 had been accepted by the Nigerian authorities after a review by relevant parties.

The letter added: “Nigerian Civil Aviation Authority extends its compliments to the General Civil Aviation Authority of United Arab Emirates.

“Your letter of 28 January 2022 with Ref GCAA/ATD/19-22 on the above subject matter refers.

“I wish to inform you that the safety decision issue has been accepted by Nigeria authorities after review by relevant parties.

“Consequently, Emirates Airlines can resume scheduled passenger flight operations to Nigeria at its convenience.

“I wish to bring to the notice of HE that the Nigerian operator, Air Peace Airlines has submitted

its request to UAE Authorities for resumption of scheduled passenger flights between the two countries effective 01 March 2022.”

Following the outbreak of Omicron variant of COVID-19 late last year, the UAE had restricted passengers travelling to the Middle East nation from Nigeria and 11 other African countries, which it lifted on January 29, 2022.

Earlier, Nigeria and UAE had settled impasse occasioned by disagreement over conduct of COVID-19 tests, which they banned Emirates and Air Peace from flying to both countries.

Federal government restored Emirates 21 weekly flights, while UAE allowed Air Peace seven weekly flights to Dubai International Airport.

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COMMENT

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

5G NETWORKS AND THE CHALLENGE OF SECURITY

The deployment of 5G network will help in containing the prevailing security crisis, contends Sonny Aragba-Akpore

D

espite the presence of an earth observation Satellite, Nigeria Sat-2, managed by the National Space Research and Development Agency (NARSDA) in orbit and in operation, no answer was found to the disappearance of Chibok girls on April 14, 2014. While everybody was having high blood pressure on this, Dapchi girls suffered a similar fate on February 19, 2018.

NARSDA has four satellites with very well-articulated ambition for earth observation and very high-resolution pictures but could not provide answers to the series of abductions and other bandit/terror activities across the country. And so we continue to run in a circle in this regard. And when President Muhammadu Buhari launched a 5G Committee the other day with an advice to the security agencies to take advantage of the new technology when established to curtail security challenges we were brought the reality of the earth observation satellite whose primary objective was to address such challenges in collaboration with the security agencies but very little has come from that direction.

5G may be the magic wand if we harness the resources and the technology when established and as we await the rollout of the networks. 5G is not a government project, and the President is aware.

How the operators manage their networks will be informed by their business decisions. The other day networks in Zamfara, Katsina, Sokoto, Kaduna, and Borno States were shut down because terrorists/bandits were allegedly deploying them for their activities. Good as the move was, it had its negative sides. If this could happen how did the security agencies communicate with each other in a crisis of this magnitude?

Communication was cut off completely from everybody in those regions.

So how will 5G networks be different?

Communications and Digital Economy Minister Dr. Isa Pantami spoke so much before and after the December 13, 2021 auction for 5G licences which bids were won by MTN Nigeria Communications Limited and Mafab Communications limited.

The auction mid-wifed by national telecommunication regulator the Nigerian Communications Commission (NCC) was seen by many as successful. It was likened to the success recorded by the commission in 2001 when it achieved a globally acclaimed Digital Mobile Licence (DML) auction that changed the communications landscape in Nigeria.

But while the 5G auction brought excitement to the government not necessarily because of its success alone but by the reality that in the face of dwindling government revenue and mounting expenditure $546m will be paid by the licence beneficiaries into government coffers while the winners of the bid return to their drawing boards to source funds to beat the deadline for the payment and actualise the conditions of the licence. And while the minister is doing all the talking and boasting that Nigeria will have the largest 5G network in Africa by 2022 the companies have said very little in this regard. The minister spoke and still speaks louder than the bid winners who have not said anything including their strategies to roll out and how much impact they will make with 5G that is expected to make a difference in communications and the business environment. The minister as a government official should limit his speeches to policy issues and allow the regulator, NCC, bother about how the licensees plan to actualize their rollout obligations and provide services that will serve as game-changer.

After all, the licensees are going through their private battles on how to pay the bid fees and begin the process of the rollout.

5G services will not be cheap, but the cost of acquisition of the services by individuals may not be prohibitive just like the experience of the Global System of Mobile Communications (GSM) in 2001.

WHILE THE MINISTER IS DOING ALL THE TALKING AND BOASTING THAT NIGERIA WILL HAVE THE LARGEST 5G NETWORK IN AFRICA BY 2022, THE COMPANIES HAVE SAID VERY LITTLE IN THIS REGARD

In 2001 Subscriber Identification Module (SIM) card sold for as much as N20,000, and the handsets as well, but today handsets are in various categories and Sim card are almost free.

The first game-changer for GSM was Glo mobile after it won the Second Network Operator (SNO) licence in 2003 and against all odds, introduced per-second billing, a platform which earlier operators thought impossible.

So the minister’s statement that Nigeria will have the largest 5G coverage in Africa has been faulted by the Association of Licenced Telecom Operators of Nigeria (ALTON) insisting that market forces will determine the cost and spread of 5G services provided by the operators.

ALTON Chairman, Gbenga Adebayo, an engineer explained that scaling down prices for 5G services would not lead to a quick spread of the services since it will be subject to the need and acceptance of subscribers. The spread will be determined by market forces and the price of Original Equipment Manufacturers (OEM) terminal equipment and devices.

The government should be interested in the bigger picture of the 5G service especially as it affects the insinuation of interference with aviation services. But even when the Chief Executive of NCC, Prof Umar Garba Danbatta says there is nothing to worry about, it is not enough to gloss over it. The NCC and the critical stakeholders should put a working strategy in place to comfort the operators and sign on subscribers. Adebayo is quoted as saying that there is no industry position yet on the perceived interference of 5G services on aviation operations. “Studies are ongoing and I do not think it is something to worry about. Although the investors have not spoken out about their fears, we should believe Adabayo and Danbatta.

Nigeria is not the first country in Africa to introduce or attempt to initiate 5G services. Twenty-four operators are in various stages of testing and actualizing 5G services in 18 African countries.

South Africa has three - MTN, Vodacom, and Rain, covering the country according to the mandate issued to them by the Independent Communications Authority of South Africa (ICASA). There are also Telma in Madagascar, Safaricom in Uganda. Kenya, Gabon, Mauritius, and others are already testing, and Nigeria is yet to test. So we should talk less and do more. Nigeria will join the 176 countries that have launched public 5G services for mobile or fixed wireless. These have over 500 million subscribers in 1,336 cities as of August 2021. The coverage is also widespread. For instance, 76% of the North American population has 5G services while 28% of East Asia are covered.

Indeed 30% of the Global population has 5G services in America, Asia, Europe, the Middle East, and African (EMEA) countries. China has coverage in 341 cities, the USA in 279 cities, South Korea (85), the UK (54), Spain (53), Canada (49) Australia (37) Saudi Arabia (37), Italy (35) France (24) Thailand (24) and Sweden (21) in that order.

We must acknowledge that better infrastructure is necessary to provide good access. And it costs a lot to build if we must reach the rural populace. If the government advocates for this all-important broadband spread which 5G will provides, it will solve several problems including security challenges.

Pantami thinks that 5G will harness the social and economic benefits that come with it and serves as a catalyst for the successful implementation of National Digital Economy and Strategy (NDEPS). But while other countries are providing incentives for connectivity, policymakers here dissipate energy on long speeches that have never cushioned the pains of the people. Will they do anything different for 5G? Aragba-Akpore is a member of THISDAY Editorial Board

BUHARI’S RULE OF LAW MANTRA Philip Agbese writes that the Buhari administration is committed to the rule of law

“The rule of law is the basis for any democracy. And without the rule of law in any democracy, you have chaos” --Meles Zenawi, Ethiopian soldier and politician.

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igerians are exciting lovers of equity, justice and the rule of law. It is the reason, Nigeria’s statute books are replete with laws, which are periodically reviewed. The campaign for justice among Nigerians usually gain ascendency under democratic settings in the country. In the nation’s recent history, ex-President Umaru Yar’Adua was a strong advocate of justice and the rule of law.

The then Attorney -General and Minister for Justice, Chief Mike Kaase Aondoakaa, SAN, was the poster boy of the rule of law mantra under the Yar’Adua Presidency. After the expiration of that government, the rule of law seemed to have gone extinct to the angst of Nigerians. Does it therefore mean, the rule of law no longer exists in Nigeria?

The answer is No! Today, the emphasis on the rule of law is replicated by the administration of President Muhammadu Buhari. From the onset, President Buhari left no one in doubt about his avowal to run a government premised on the words and letters of the rule of law. President Buhari, like the retired Associate Justice of the Supreme Court of America,

Justice Sonia Sotomayor clearly discerned and firmly believed, “… in the rule of law as the foundation for all of our basic rights.” He has been a stickler to this dictum in his leadership of Nigeria.

This mindset pulsated President Buhari’s advocacy and declaration in his inaugural speech on May 29, 2015 that “The Federal Executive under my watch will not seek to encroach on the duties and functions of the Legislative and Judicial arms of government.

The law enforcing authorities will be charged to operate within the Constitution…The judicial system needs reform to cleanse itself from its immediate past…It is only when the three arms act constitutionally that government will be enabled to serve the country optimally and avoid the confusion all too often bedeviling governance today.”

There is no gainsaying, President Buhari has walked his talk on the “rule of law”, in his near seven years administration. Unlike his predecessors, Nigerians have experienced Mr. President’s due recognition and observance of the constitutional independence of the other arms of government in a democracy. His sermons are always centered on the non-interference with the operations and rights of other arms of government as enshrined in the Constitution of Nigeria. That’s why he does not wear the toga of President and leader of his party.

Buhari is tenaciously upholding the sanctity of the rule of rule, even where the people’s offensive indulgence into lawlessness undermines his Presidency. And the enabler of Buhari’s towering

heights in the compliance with the rule of law and the redefinition of the Nigerian Justice system is the current Chief Law Officer of the Federation.

The Attorney-General of the Federation and Minister of Justice, Barrister Abubakar Malami, SAN is law personified. He has fruitfully proven his mettle as an effective chief law officer of the federation. He has created innovative paths in ensuring the smooth administration of justice in Nigeria for effective governance based on the tenets of law as practiced by all democracies globally. He is strengthening old laws and engineering new legislations in areas where there are none.

Abubakar Malami is a translucent compliant with the rule of law. His office is active in offering genuine legal advice to government and appropriate interpretations of legislations in resolving thorny national issues. Malami is silent or less vociferous about his assignments, but has many pluses to his credit.

The justice minister has operationalized grandeur institutional reforms in the Nigerian Judiciary which have placed Nigeria among the top-ranked nations in Africa attuned to the rule of law.

Abubakar Malami has instituted solid sector reforms which have placed the Nigerian justice system on the path of expeditious dispensation of justice for the benefit of Nigerians. The Ministry of Justice has formulated multiple policies, and through the executive, it has sponsored fresh legislations to close up gulfs in existing laws and it has been relentless in offering appropriate legal advices in the

prosecution of civil and criminal cases which have saved the federal government several trillions of naira in judgment debts these past six years.

Malami’s reforms in the justice sector reflect in the strengthening of the laws of anti-graft agencies, which have repositioned them for optimum performance. The result is the amazing volume of cases investigated and prosecuted by the EFCC and ICPC under the Buhari Presidency.

Under Minister Malami, Nigeria has domesticated legislations and international agreements, which have led to the passage and signing of Mutual Assistance in Criminal Matters Bill 2019 by President Buhari.

And through Malami’s professional guidance, Nigeria has signed agreements and MOUs with numerous countries to ginger international cooperation for the investigation, tracking, freezing and return of stolen assets which is actively operating.

In the area of prisons, the Minister of Justice has constituted a committee with the mandate of formulating policies and strategies for prison decongestion throughout the country. This is beside the multiple legislations it has instituted before the National Assembly to backup the decongestion of prison formation process. The committee is working assiduously in clearing the backlog of cases of awaiting trials and those who have spent years in incarceration because of failure to pay minor fines imposed on them by the courts.

Agbese,LLM, a human rights activist, wrote from the UK

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T H I S D AY • WEDNESDAY, FEBRUARY 2, 2022

EDITORIAL THE ABUJA RICE PYRAMIDS The ceremony was unnecessary

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pparently in a bid to show that the federal government huge intervention in agriculture is paying off, President Muhammadu Buhari recently unveiled several bags of paddy rice stacked in triangular pyramids in Abuja. At the ceremony, the president commended the Central Bank of Nigeria’s (CBN) Governor, Godwin Emefiele, for initiating the Anchor Borrowers Programme (ABP) through which the ‘massive’ rice production was achieved. According to him, national paddy rice production rose from about 4.5 tonnes per annum in 2015 to over nine million tonnes last year. “The significance of today’s occasion can be better understood by looking at the various economic strides the administration has achieved through agriculture,” he said.

Whatever may have motivated the idea, public opinion on the THE PICTURE OF funfair is sceptical, ABUNDANCE, MIMICKING seen more as a THE GROUNDNUT political jamboree PYRAMIDS IN THE SKYLINES ahead of the 2023 OF KANO CITY IN THE 1960S, elections. The picture of abunIS AT VARIANCE WITH THE dance, mimicking REALITY OF MILLIONS OF the groundnut HUNGRY NIGERIANS pyramids in the skylines of Kano city in the 1960s, is at variance with the reality of millions of hungry Nigerians. While there is no doubt that Nigeria has witnessed incremental reductions in rice imports, there is little to celebrate as the product widely displayed at the ceremony is still scarce and expensive. A 50kg bag of rice sells at N30,000 as against N10,000 when President Buhari took over the reins of government in 2015.

Pertinent questions therefore arise: Why did the government waste so much time and money in ferrying rice across many states to Abuja to display in pyramids? Why wasn’t the rough rice processed and taken straight to the market, particularly during the last yuletide when it was in high demand? Who is the government trying to impress? Indeed, some

Letters to the Editor

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

T H I S D AY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTOR PATRICK EIMIUHI CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

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.

BABATUNDE FASHOLA’S FAUX PAS

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s governor of Lagos State between 2007 and 2015, Mr. Babatunde Fashola put in a superlative shift. So sensational was his performance in upgrading Lagos State which had long been Nigeria`s most innovative state that he became a reference point for leaders in Nigeria. At the conclusion of his tenure as governor, it was with a great sigh of relief that Nigerians welcomed his appointment into the cabinet of Mr. Muhammadu Buhari when it became obvious that he was not going to become president of Nigeria.

Nigerians were almost unanimous in their conclusion that Mr. Fashola was too good and too valuable to be allowed to slide into political obscurity. The president`s trust in him was confirmed when he was given the power, works and housing portfolio during Mr. Buhari`s first term in office. Even when the power portfolio was excised from the portfolios he held, the administration`s trust in him appeared as solid as ever.

However, as things stand today, the general mood around the once highflying Lagos State governor is one of disappointment and even anger. Nigerians feel that he has underperformed just like the entire cabinet of which he is a key cog.

Maybe, just maybe with the benefit of hindsight posterity will judge the current administration a bit less harshly. But the truth remains unassailable that today

cynical observers, among them critical stakeholders, have raised questions about the farmlands where the unveiled rice was cultivated, taking into consideration that rice millers are still faced with high costs of production and poor access to paddy.

The high level of insecurity in the major rice and maize producing states has forced many farmers to stay away from the farmlands while many others are still pining away in internally displaced camps. The case of the 44 rice farmers murdered by terrorists in Borno State in 2020 is still fresh in many people’s mind. Indeed, the CBN governor admitted that the past few years had been quite challenging for the farmers as they battled with insurgency, banditry, lockdown, and other related setbacks. “We lost some of our farmers to insurgency attacks nationwide while some could not access their farms for several months,” said Emefiele. These perhaps prompted a doubtful National President of All Farmers Association of Nigeria (AFAN), Kabir Ibrahim to ask: “Who owns the rice and maize? If we have surplus food as depicted by the pyramids, why do we still have food shortages?”

As things stand, the most effective way to demonstrate that the alliance between ABP and the Rice Farmers Association of Nigeria (RIFAN) on rice production is yielding results is to flood the markets with quality local rice at affordable price. Nobody could accuse the government of inactivity as regards commitment to agriculture. But most of the money poured into the sector is going down the drain. The prevailing insecurity across the country is exacerbating the food crisis. Many farmers cannot access their farms for fear of being killed, kidnapped, or raped.

A CBN report on sectoral allocation of forex for the third quarter of last year revealed that the country spent a whopping $1.68bn on food importation between January and September.

The figures are clear indication that many of the interventions by the government have no profound impact on food security. For that to happen, we must first arrest the confounding problem of insecurity.

there is an overwhelming feeling among Nigerians that the current administration has been an overwhelming disappointment. While some other cabinet members have been unsurprisingly disappointing in the discharge of their duties given that they did not come into the administration with any positive antecedents, some of them who had governed some hapless states in Nigeria had done their best to empty the coffers of their states before they left office. Some of them did all within their power to impose on their states men who had neither vision nor vitality to make a success of the considerably demanding task of governing a state.

But from people like Mr. Fashola, Nigerians expected more and the degree of disappointment has been well commensurate with the weight of expectation. Another art that the officials of the current administration have perfected is that of blaming the past administration for all its struggles. Under the current administration, it has become a perfect riposte for those who would question the direction of the administration to say that for 16 years a certain party practically did nothing.

Recently, at an event in Kano State, Mr. Fashola was said to have compared the state of infrastructural development in Nigeria to what is obtainable in the US. Unavoidably, he could not resist poking a finger in the direction of the Peoples Democratic Party.

Kene Obiezu, keneobiezu@gmail.com

IN PRAISE OF ROCHAS OKOROCHA

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he growing epidemic of ethnicity, tribalism, religious conflict and other vices rooted in colonialism’s legacies has demonstrated that Nigerians desire a detribalized leader capable of uniting the country. It is evident that the developing country demands a leader with profound empathy that would care for the impoverished and oppressed, as well as a visionary leader who can generate massive income for the country’s burgeoning population. Undoubtedly, all of these characteristics can be noticed in the lifestyle and leadership antecedence of Imo West’s Senator Rochas Owelle Okorocha.

In this spirit of nationalism, a large group of religious clerics from all states of the country publicly endorsed Rochas Okorocha’s philanthropic disposition across the country, thereby establishing him as the best contender for the coveted position. It cannot be overstated that Rochas has provided free education to underprivileged Nigerians around the country through his charitable foundation, Rochas Foundation. Over one billion Naira was planned in 2018 to educate thousands of less fortunate kids across West

Africa. Over 1,000 children in Internally Displaced Persons (IDPs) camps were granted educational scholarships the same year.

The Foundation’s Deputy Chief of Staff - Mrs Uloma Nwosu, stated at the ‘Mentors Interactive Cocktail’ held at the Transcorp Hotel in Calabar, that the Rochas Foundation has been able to make qualitative and comprehensive education free and accessible to the poorest families across sub-Saharan Africa for the past 28 years. Hundreds of schools have been created across 11 Nigerian states, including Kaduna, Kano, Sokoto, Oyo, Plateau, and Adamawa, to name a few. In addition, the Foundation has successfully trained over 25,000 youngsters and generated 6,000 graduates, some of whom are now employed at MIT, Google, and other important institutions throughout the world.

Therefore, Nigerians are urged to select a suitable candidate who has the visionary capacity, and had demonstrated a profound ability to deliver as president in 2023 in order to keep the ship of a united state afloat.

Isayinka Stephen, Deputy President of The People’s Initiative for a Progressive Nigeria, Ogun State

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WEDNESDAY, ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

SIXTEEN TO STEM HIV TIDE, BUHARI LAUNCHES N62BN TRUST FUND TO FIGHT DISEASE Group, Alhaji Aliko Dangote, promised strong support for the private sector-led fund.

Speaking at the launch of the HIV Trust Fund of Nigeria (HTFN), Buhari pledged that his administration would continue to prioritise health interventions to address killer diseases and public health emergencies.

According to a statement by Special Adviser to the President (Media and Publicity), Femi Adesina, Buhari said, "Ending AIDS as a public health threat in Nigeria will require increased domestic funding. We have continued to make good our commitment of placing more people living with HIV on treatment annually using national resources.

"At the last United Nations General Assembly High Level Meeting on HIV/AIDS, I made a call for a renewed global action to address the HIV/AIDS epidemic in Africa.

''However, strong domestic resource mobilisation with an enduring partnership and shared responsibility is required to sustain the response to HIV and other emerging public health emergencies.”

Buhari noted that Nigeria’s focused partnership with the private sector in the response to the COVID-19 pandemic provided a readily available financing solution to leverage on to sustain the HIV response. He commended the National Agency for the Control of AIDS (NACA) and the Nigeria Business Coalition Against AIDS for their efforts in establishing the HIV Trust Fund of Nigeria to secure a generation of babies free of the virus.

Buhari also expressed delight at the attendance in person of key global players in the HIV response and notable private sector personalities at the event and the pledges made.

''Going forward, I hope the HIV Trust Fund of Nigeria will galvanise more of the private sector and other partners to surpass the target of N62 billion in the next five years,'' the president added.

In his remarks, Secretary to the Government of the Federation, Boss Mustapha, disclosed that since 2005, about $6.2 billion had been spent on HIV response in Nigeria.

Mustapha stated, ''About 80 per cent of the funds were contributed by external donors, mainly the US President’s Emergency Plan for AIDS Relief (PEPFAR) and the Global Fund to fight AIDS, Tuberculosis and Malaria. The private sector contributed 0.1 per cent to 2 per cent of total funds with the rest of funds provided by the Nigerian government.''

While acknowledging NACA's efforts to promote resource mobilisation to complement existing external support, Mustapha said the federal government had sustained

the treatment and financing of 50,000 People Living with HIV (PLHIV) annually. He said the launch of the HTFN would guarantee funding from private sector-led resources for HIV interventions, especially for the elimination of the Mother-to-Child transmission of the virus.

Dangote said the mission of the fund, proposed by NACA alongside the Nigeria Business Coalition Against AIDS (NiBUCAA), was to ensure mobilisation of resources towards eradication of AIDS in Nigeria, starting with the Prevention of Mother-to-Child transmission of the virus. ''I am reminded that we have two million of our compatriots living with HIV/AIDS and it is our collective responsibility to bring this number down to zero,'' he said.

Dangote, who is Africa’s richest man, appealed to individuals and corporate organisations in the country to donate generously to

ATTEMPTED COUP IN GUINEA-BISSAU SENDS JITTERS ACROSS AFRICA and across Africa yesterday over possible military take-over as sporadic gunshots were heard near a compound where the nation’s President Umaro Sissoco Embalo was presiding over a cabinet meeting. According to agency reports, possible casualties were unclear.

The resurgence of military coups on the continent is forcing some analysts to call for the establishment of an Economic Community of West African States (ECOWAS) military force in the form of ECOMOG, to protect democracy in the sub-region.

A security source told journalists in Bissau that at the government’s palace, an unknown number of people were hit by gunfire with

two persons killed. But it was unclear who the casualties were.

It was also learnt that Sissoco Embalo held an extraordinary cabinet meeting at around 10 a.m., entering the building with a heavy security detail.

Immediately after the incident, the normally busy streets around the palace were deserted in the afternoon, with an unverified video shared on social media appeared to show a man standing outside the compound firing a rocket-propelled grenade.

The government has however been silent about the incident as no official statement has been made.

The West Africa region has been mired by military take-over in the

last 18 months with military take over in Mali, Guinea and Burkina Faso.

Guinea-Bissau is not new to coup d’etat as for decades, there has been history of nine coups or attempted coups since independence from Portugal in 1974. This has severely affected her economy which relies heavily on the export of cashew nuts.

The ECOWAS Monitoring Group (ECOMOG) which some analysts are calling for, was a West African multilateral armed force established by the sub-regional body. ECOMOG was a formal arrangement for separate armies to work together. It was largely supported by personnel and resources

of the Nigerian Armed Forces, with sub-battalion strength units contributed by other ECOWAS members which included Ghana, Guinea, Sierra Leone, The Gambia, Liberia, Mali, Burkina Faso, Niger, among others.

While the protocol on Mutual Defence Assistance was signed in Freetown, Sierra Leone, on May 29, 1981, Anglophone ECOWAS members were established ECOMOG in 1990 to intervene in the civil war in Liberia (1989 to 1996).

ECOMOG had been described as the first credible attempt at a regional security initiative in Africa..

Its establishment was spearheaded

by Nigeria's then military President, Ibrahim Babangida.

the Fund. ''We would like the private sector to work in partnership with the federal government on a 50-50 basis, which we believe will help us eliminate Mother-toChild transmission of HIV/AIDS in Nigeria,” Dangote said.

Chairman of Board of Trustees of the fund and Group Managing Director of Access Bank, Mr. Herbert Wigwe, in his remarks, said the aim of the initiative was to ensure sustainable mobilisation of resources from the private sector towards eradication of AIDS in Nigeria, beginning with the prevention of mother-to-child transmission of the HIV virus.

Wigwe stated, "We have a responsibility to safeguard the future of our country, our workforce, and our children yet unborn. With your support, we can change the narrative; put an end to mother-to-child transmission of HIV in Nigeria, eradicate AIDS and, ultimately, put a stop to the transmission of HIV in Nigeria.”

Wigwe said the HIV Trust Fund of Nigeria become imperative to help bridge the existing, as well as projected funding shortfalls that will occur once international donor funding began to exit.

According to him, the HIV Trust Fund “would be a unique opportunity to proactively take decisive steps to avoid a potential HIV/AIDS crisis in Nigeria.”

In his welcome speech, DirectorGeneral of NACA, Dr. Gambo Aliyu, thanked Buhari for his commitment and support for HIV response in the country.

Aliyu said as a direct result of the president’s intervention, NACA now procured HIV commodities at manufacturers’ rate, and more Nigerians living with HIV had

been placed on treatment from domestic resources.

He said within the last three years, the agency had identified and placed on treatment an additional 900,000 persons living with HIV, bringing the total number of Nigerians on HIV treatment to 1.7 million.

Aliyu stated, “This unprecedented feat puts Nigeria on a fast-track lane to control HIV spread by 2023. However, despite these achievements, our national coverage of prevention of mother-to- child transmission is less than 50 per cent, leading to about 22,000 cases of mother-to-child transmission of HIV every year in the country.”

The director general said providing life-long treatment to all PLHIV even after successfully stopping new HIV infections would require a domestically sustainable financing mechanism.

Key development partners present at the unveiling of the fund included Executive Director, UNAIDS, Ms. Winnie Byanyima; Executive Director, Global Fund, Mr. Peter Sands; and US Ambassador to Nigeria, Ambassador Mary Beth Leonard.

Other members of the fund’s Board of Trustees are Managing Director of TotalEnergies Exploration and Production Nigeria, Mr. Mike Sangster; Chairman, Board of Trustees of Dangote Foundation, and President of the Dangote Group, Alhaji Aliko Dangote; Managing Director, The Shell Petroleum Development Company of Nigeria (SPDC) and Country Chair, Shell Companies in Nigeria, Engineer Osagie Okunbor; Managing Director/CEO, Julius Berger Nigeria Plc, Dr. Lars Richter; and Director General of NACA, Dr. Gambo Aliyu.

that subsidy, subsidy price and see what we are paying for it and what's in the landing costs.

“Let’s interrogate and say, how many litres do we use in Nigeria every day? Statistics in the downstream is incredibly opaque,” she argued

said among others required setting priorities, execution of goals, setting of timelines and milestones as well as clarity of purpose.

He said these leadership principles had helped shape his focus and eventual successes in the private sector, stressing that they are as well applicable to the public sector if results must be achieved.

Elumelu in the course of his lecture also touched on the need for leaders to match words with actions so people don't lose interest in their leadership.

He also emphasised the need to pay attention to merit and ensure that the most qualified persons are appointed to positions of authority.

On the role of private sector in fighting terror and promoting peace in the continent, the founder of the Tony Elumelu Foundation said he had been a proponent of African capitalism which he believes would lead to long-term investment to address endemic poverty.

He argued that people who have economic hope do not take to extremism, saying only jobless persons are susceptible to social vices.

He said governments must get serious with eradicating poverty and creating economic opportunities for the growing youth population in order to avert a greater catastrophe.

"Unless we get serious on our continent, it's just starting, " he said.

He added: "There can't be peace when people are hungry. It's an imposed peace and it's only a matter of time before it explodes."

According to him, what African youths need is economic opportunity and not interested in handouts adding that they presently lacked such opportunity.

Elumelu said government must wake up and realise that the young ones would someday hold them accountable.

He said the fact that 60 per cent of the Nigeria’s population lived below the poverty index had more to do about leadership.

He said, "We can correct these things. We need to do more.

Poverty is the reason we have problems in the world."

SYLVA DOUBTS NIGERIA’S PETROL CONSUMPTION FIGURES, SAYS NUMBERS CRAZY, OPAQUE the subsidy matter.

Also, the Founder/Chairman of Heirs Holdings Limited, Mr. Tony Elumelu, yesterday said incessant oil theft in the Niger Delta region remained a major national challenge requiring urgent attention by the country's leadership. Elumelu, while delivering the National Defence College, Course 30 Lecture titled: "Strategic Leadership: My Business Experience," further described the activities of oil thieves as a national disgrace which requires national seminar and dialogue to address.

Sylva agreed that figures released by concerned authorities were questionable, stressing that the best solution to the issue would have been to completely remove the subsidy.

Nigeria’s subsidy regime has for decades remained a subject of controversy, with the figures from the authorities ranging from between 50 million litres per day to around 103 million litres.

As at today, the Nigerian National Petroleum Company (NNPC) is the sole importer of the product, since private businessmen exited the scene due to non-availability of foreign exchange years ago.

Having backtracked on its plan to remove fuel subsidy as dictated by the Petroleum Industry Act (PIA), the executive arm of government is set to approach the National Assembly to approve the N3 trillion for the payment of subsidies in 2022. The government last week extended the implementation by 18 months.

The minister alleged that a few persons were holding the rest of the country to ransom, explaining that the rich rather than the most vulnerable in the country gain more from the payment of subsidies than the poor.

Speaking on the dynamics of rising consumption figures and increasing subsidy payment, Sylva explained that although there was something fishy about the data, there’s nothing that hadn’t been done in the past to muscle those bleeding the country without success.

“There have been efforts at controlling some of the smuggling.

And then something dramatic happened. When we had the deregulation discussions, and the price moved up to N162 from N145 where I met it, we realised that the consumption dropped to less than 50 million litres or to the 40 million.

“So, later on, once the exchange rate also now moved up a little bit and swallowed the gains we made from the N162 move, the figures increased again.

“And sometimes, the figures you hear are crazy. I mean, when they tell you 90 million litres a day, I mean, they're crazy figures.

So I mean, so for me what is the sum total of all this? We've been interrogating these numbers for 20 years.

“We continue to interrogate these figures because we all know that there is a problem here, it’s opaque . The opportunity, the premium is not coming to government and it is not going to the poor people.

It is going to a select people who are feeding fat on these things.

“So why don't we just get rid of this thing? Okay, we should interrogate this thing, but I mean, to me that is not the solution. Why don't we get just get rid of this whole subsidy so that we know that this problem is over once and for all.

“I know when people say the figures are... I mean, we agree that the figures are all opaque. We agree.

That's why we are saying look, let's stop all the shenanigans. Let's stop all this discussion.

“Let’s leave all this opaqueness, all this corruption in the subsidy, let us move away from subsidy and go on higher ground. And then they say no, no, no. There’s been trial of subsidy thieves. Oh, we've gone on television to say okay, these are the template, these are the components of the templates,” he stated.

The minister was reacting to the insistence by a co-guest, Prof. Yinka Omorogbe, an energy law expert and President Nigerian Association of Energy Economists (NAEE), that Nigeria must investigate how many litres it consumes, among others.

The minister maintained that even labour which is against the

removal of the subsidy knows the issues, adding that Nigeria continues to hemorrhage because the subsidy regime persists.

“Why don't we just get out of it? Okay, there has been some corruption. So we can always deal with the corruption issues.

We can always deal with all the opaque issues. But should we allow Nigerians who are not benefiting from this thing as you agree with me, to continue to be hemorrhaging?

“Because we need to get out of this, because look at it, N3 trillion budgeted. You can imagine if this N3 trillion were to be budgeted for something else. Who's going to be benefit from it? I'm not into the downstream, I'm not going to benefit,” he stated.

He argued that even the Dangote refinery would not survive in a subsidised environment, reason the businessman carefully planned it as an export facility around the Export Free Zone (EFZ) in Lagos.

“It is by his port, because he was not refining to sell at a loss as the other refineries were designed to do. He designed his to sell at a profit internationally. If we are to buy from him, we will also buy at the international market. The only saving we will make as a government in that case, is the cost of freight,” he argued.

“So, you find that that it was his own model, it is still not going to function under a subsidy regime, even Dangote refinery will not function. So, it is agreed that no refinery in the world can survive in a subsidy regime,” Sylva added.

On the issue of pipeline maintenance and repairs, the minister stressed that under the PIA, the refineries will be managed distinctly from the crude oil pipelines.

Describing it as a very thorny issue, he expressed the view that the PIA will be the solution to some of the current problems with managing the pipelines.

He pointed out that before now, the midstream in the industry was grossly under-developed because the fiscals were not there.

“If you have a situation where somebody owns a refinery and then at the same time is expected to run

a pipeline that is 600 kilometres long, then it becomes difficult for him to run.

“He should focus on running a refinery if it’s a refinery operator, then you must have somebody who also focuses on running the pipeline and it becomes his business.

“Unfortunately, in Nigeria, we never saw the pipeline as a business. So the pipeline was always an attachment to a refinery.

It was becoming very sub-optimally managed because the refinery operators could not manage the pipelines.

“So what we are now doing is to decouple the pipelines from the refineries, outsource those pipelines to people who can now focus on managing the pipelines. So it will be a different ballgame after the fixing of the refineries, he assured” Omorogbe had in her comments, said that the reforms in the industry were unnecessarily slow, with the PIA taking over 20 years to bring to fruition.

“The downstream has been in a mess for a long time. Any downstream operator will tell you that off the record, and will tell you that it's worsening.

“I'm just in pains to know how we can implement the petroleum industry act. But I think a lot of the problem is that Nigerians have never really interrogated what this subsidy is, if it's there to cushion us against the different price effects of importing petroleum products.

“What are the components of what is being paid for subsidy?

When you look at landing cost, what are the components of that landing costs? How much of it is the demurrage for example?

“Why are we paying for the incompetence of the system? If the government would get out of this area, I can see that many things would be wiped out, even though one is talking about temporarily having the price shoot up, it'll come down.

“When there's competition. No private person will pay for some of the things that are happening right now. That's why I say I really don't know where to start. But we should just sit down and interrogate

Elumelu Raises Concerns over $4bn Oil Theft, Says Its National Disgrace

According to Elumelu, who is also the Chairman of the United Bank for Africa Plc (UBA), between January and September last year, Nigeria lost over $4 billion to oil thieves who don't pay tax but use their illicit proceeds to acquire more lethal ammunition and continued to pose threats to the country's corporate existence.

He expressed worry that the development had put so much money in the hands of those who don't pay tax and who are not regulated, making the country unsafe.

Elumelu said, "We produce sometimes about 87,000 barrels per day, and thieves take 50,000 per day."

He said addressing the sordid situation required strategic as well as resilience of leadership adding that, "things can't continue that way. The country should wake up."

"We look forward to men and women of this country to help remove this national disgrace," Elumelu added.

He said, "The theft in the Niger Delta is a national challenge. To me, it requires national seminar and dialogue. It is in my viewpoint, one of the lethal threats to our country, because it is so much money in the hands of people who don't pay tax, people we don't regulate and the country is not safe.

"Nigeria in the last three quarters of last year from January to September lost over $4 billion to thieves who don't pay tax and they use it to pile more lethal ammunition and pose threats to our corporate existence."

He also attributed the growing youth restiveness in Nigeria and Africa to the absence of strategic leadership principles which he

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

MIDWEEKPOLITICS

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

For Akpatason, the Road Ahead Isn’t Easy The ambition of Hon. Peter Akpatason, member, representing Akoko-Edo Federal Constituency area of Edo State, to return to the green chamber of the National Assembly for the fourth term, is currently brewing disaffection, writes Adibe Emenyonu

Akpatason

Akerele

Akande

Adjoto

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he Akoko-Edo federal constituency is currently housing the Deputy House Leader, Hon. Peter Akpatason.

Akpatason is in his third term as a member of the Green Chamber of the National Assembly. At the close of June 2023, he would have spent 12 years in the chamber. He was first elected in 2011 and has already spent 11 years in the saddle. In 2019, he was appointed Deputy Majority Leader of the House of Representatives, a position he has used to attract projects to the LGA to the admiration of all.

However, those who want to unseat him, have insisted that his performance is less than salutary as it took him 12 years to attract meaningful projects to the LGA compared to first-timers like Dennis Idahosa (Ovia Federal Constituency) and Prof. Julius Ihonvbere (Owan Federal Constituency) who have gone the extra mile to break the sealing for their people within two years of their first term.

His opponents have also argued that if those before him decided to over stay, he would not be in the House of Representatives. Notwithstanding, other arguments against Akpatason is that he has breached the rotational arrangement in the local government between north and south of the largest local government in Edo State.

A prominent figure in the area who preferred anonymity, noted that the chairmanship and House of Representatives seat rotate between the southern and northern part of the local government, but expressed surprise that only one ward and one person has monopolized the position of the

House of Representatives, negating the principles of justice, equity and fairness.

He said: “If it’s about performance, Akpatason is doing well after three terms. But if it’s about rotation Akpatason has completely canceled the principles of zoning as was applied during the period of Col. Tunde Akogun (rtd), who spent only two terms. This is why you are seeing other persons irrespective of party affiliation indicating interest instead of just someone from Constituency 1, monopolizing it.”

From all indications there are five aspirants who have indicated their interest to take over Akpatason’s job.

Prominent among them are Kabiru Adjoto, former Speaker, and three-term member of Edo State House of Assembly. Adjoto who lost out to Akpatason in 2019 through court judgment has vowed to unseat Akpatason this time around.

Adjoto’s strength is based on the fact that he is a political ally of Edo State Governor, Mr. Godwin Obaseki.

Another advantage is that he is a mem-

ber of the ruling Peoples Democratic Party (PDP). With this, it is expected that the governor will use his sagacity to support him.

Investigations also indicate that one Joy Billy Akande has thrown her hat into the Akoko-Edo Federal Constituency ring. Akande, as gathered derives her strength from the help she was said to have rendered to a lot of people from the area in terms of job creation.

Another Aspirant is Johnson Afegason, who is little known except that he is an Abuja based oil and gas merchant and a chieftain of the All Progressives Congress (APC). It was also learnt that he is in charge of the APC local government council executive having triumphed over Akpatason during the party LGA congress held in 2021. Although he is perceived as a quite aspirant, Afegason is said to be a huge threat especially being the only Okpameri son in APC who has indicated interest to contest the AkokoEdo Federal Constituency seat.

Kabiru Adjoto, Joy Billy Akande and Johnson Afegason are not the only

A prominent figure in the area who preferred anonymity, noted that the chairmanship and House of Representatives seat rotate between the southern and northern part of the local government, but expressed surprise that only one ward and one person has monopolized the position of the House of Representatives, negating the principles of justice, equity and fairness

established threats against Akpatason’s emergence in both APC and PDP. Last weekend, Taiwo Akerele, a native of Igarra, headquarters of the local government also indicated his interest in the contest for the federal seat. The World Bank trained Economist and former Chief of Staff to Governor Obaseki, who resigned his appointment before the 2020 governorship election, has declared his intention to contest the APC primary election for the federal house seat.

Akerele who made his intention known in a chat with journalists at Igarra, headquarters of Akoko-Edo local government area of the state, said he has been privileged to work closely with key policy makers which has given him the vision and quality to represent his people, adding that Nigeria is ripe for accelerated development and that people like him possess the capacity to contribute their part towards this speedy development.

According to him, “Akoko-Edo is blessed and having worked with a state government and other key government actors, my focus will be more on encouraging private sector investments in our divine factor endowments which is solid minerals to enable us engage our youths productively.”

He advised those coming into the race to eschew politics of mudslinging and name calling by displaying maturity in engagement and issues-based approach ahead of the APC primaries and subsequently the general elections.

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

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

POLITICS

The Enduring Quest for a Better Nigeria

GOVERNANCE IN PHOTOS

Vanessa Obioha writes that at a leadership retreat in the rocky city of Abeokuta, Ogun State, spearheaded by THISDAY columnist Joseph Edgar, professionals from different sectors of the economy took a bold step to effecting the desired change in the country

L-R:Wife of Vice President of Nigeria, Mrs. Dolapo Osinbajo;First lady of Nigeria, Mrs. Aisha Buhari; Convener of the conference, Hon. Stella Okotete; Dr. Ramatu Tijani Aliyu and Minister of Humanitarian Affairs, Mrs. Sadiya Umar Farouq, at the APC Progressive Women conference, theme “One Voice: Women Uniting for Progress” in Abuja recently

Delegates on tour of Olusegun Obasanjo Presidential Library

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he train had barely left the Mobolaji Johnson Train Station at Ebute Meta, Lagos that Friday afternoon when the discussion on the Nigerian construct and leadership took centre stage. That was of course after the over 50 delegates on the trip to Abeokuta got acquainted with one another. However, the aura of camaraderie in the commodious coach suggested a higher level of familiarity. This was somehow expected given the sense of belonging the digital world offers.

Having familiarised themselves on a WhatsApp platform, it was easier to mingle in person.

Despite the banter and quips, it was evident that these professionals from different fields such as health, information technology, oil and gas, finance, were full of anticipation for the weekend in Abeokuta which included a strategic session with former President Olusegun Obasanjo and a tour of the Olusegun Obasanjo Presidential Library (OOPL). The retreat was initially birthed by Osa Umweni, the co-owner of Incentive Games Ltd, but finally executed

by THISDAY columnist Joseph Edgar. While the session with Obasanjo was to glean from his wealth of knowledge on the way forward for Nigeria, particularly as the 2023 national elections draw closer, the expectations of many on the trip were to network with like-minded people who share the vision of working for a better Nigeria.

To a large extent, that goal was achieved.

Starting with the tour of the presidential library, a first of its kind and the only in the country, the delegates were reminded of the importance of history. The OOPL sits on 62 acres of land and houses three museums, depicting the different stages of Obasanjo’s life; from childhood to military rule to democracy. The delegates expressed a gamut of emotions that ranged from astonishment to admiration, and then disappointment to determination. The OOPL tour was a stark reminder of the critical role history plays in the nation today. They listened with rapt attention as the tour guides took them through historical facts stored in both digital and physical forms. One of the sections that held them spellbound was the Nigerian child. This section encourages children to come face to face with their future by selecting the attire of their chosen fields and taking a picture with it.

For instance, if a child chooses to be a doctor, he or she would pick a doctor’s attire and pose in it in one of the photo booths in the library. Not a few lauded the concept as a strategic way to prepare the Nigerian child for a better future.

By the time the participants had the strategic session with the former president anchored by Nonny Ugboma and Tope Fasua on the theme ‘The Nigerian Construct: Yesterday, Today, and Tomorrow — What Hope?’, they were re-energised to work towards a greater nation.

Still looking agile in his eighties, Obasanjo walked into the conference hall in purposeful strides, and with his jocose remarks, kept the

interactive session from being arid as he fielded questions from the participants.

The questions revolved around the economy, leadership, and polity.

Having ruled the country thrice — once as a military ruler and twice as a democratic president — Obasanjo acknowledged the beauty of our diversity but was quick to point out that mismanagement of our heterogeneousness remains a hindrance to the progress of the nation. This he said affects our identity while emphasising that he would rather be seen as a Nigerian than a citizen of the Republic of Egbaland. For the former president, the idea of restructuring is confusing as it means different things to different people. However, his understanding of the term which in recent times has been amplified is a devolution of power. He kicked against collapsing states into federating units. He added that Nigeria needs statesmen and not tribesmen.

Although greatly revered for his many contributions to Nigeria, not a few have reservations about Obasanjo. If that bothers him, there was no way of finding out. But always bold and outrageous, Obasanjo does not sit on the fence or stop halfway. So when the discussion tilted towards the leadership of the country, he did not mince words that the present situation of the country is worse than when he ran for the presidential office in 1998.

“Since I left office in 2007, three leaders have emerged but how do you assess their performance?” he queried.

He was still modest to admit that the political leaders have not done as much as expected since independence and therein lies the question of why they haven’t lived up to expectations.

Perhaps, the answer lies in the belief that there is a singular person or political party that can solve all Nigeria’s problems. Obasanjo was quick to dismiss this perception, stating that the solutions to Nigeria’s problems lie in the hands of every Nigerian. He also stated that the lack of continuity in governance was part of the hydra-headed problems facing Nigeria.

In his summation, the key things to focus on for national development are security, education and the economy.

As a custodian of history, the session was not complete without the delegates seeking his thoughts on the place of his history in Nigeria today. He bemoaned the fact that Nigeria is careless with records and queried why leaders do not want to talk about the Civil War. A critical question he asked regarding history was “How have we made use of yesterday for today?”

The erasure of history in Nigerian schools he said gives room for deceitful narratives such as the widespread perception that Mungo Park discovered River Niger.

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

From left- Chief of Staff to Osun State Governor, Dr Charles Akinola; Alhaji Sule Aderemi; Governor Gboyega Oyetola; Senator Ajibola Bashiru; Chairman, Ajegunle Tradesmen and Artisans, Osogbo, Alhaji Azeez Kamarudeen and members of the group, during the endorsement programme for Mr Governor second term in office, at the Freedom Park, Osogbo

Speaker, House of Representatives, Rt. Hon.. Femi Gbajabiamila (right) and Foreign Affairs Minister, Geoffrey Onyeama (left), who led officials of the Ministry to a meeting with the Speaker over the Ministry’s implementation of the 2022 Appropriation Act at the National Assembly on Monday, January 31, 2022

New Judges, Hon Justice Ariyibi Apuabi; Hon. Justice Olalekan Olatawura; Hon. Justice Oyinkansola Oluboyede and Hon. Justice Blessing Ajileye; during the swearing-in ceremony for four newly appointed judges of Ekiti State High Court in Ado-Ekiti

T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

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FEATURES

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

Ameliorating Suffering for Vulnerable Children, Women in Katsina Francis Sardauna chronicles the strides of the Katsina State Governor’s Wife, Dr. Zakiyya Aminu Masari in ameliorating the suffering of vulnerable children and women in the state through her Women, Youth and Children Improvement Support Initiative

I

t was jubilation galore for pupils and teachers of Achakwale Primary School, Achakwale community in Baure Local Government Area of Katsina State when the Wife of the state governor, Dr. Zakiyya Aminu Masari provided them with free school uniforms, bags, textbooks, customised caps, mathematical tools, notebooks and other instructional materials worth millions of naira.

Grappling with the stark realities of the economic meltdown and COVID-19 pandemic in the country and its attendant effects on their parents, the 240 pupils who were carefully selected from primary one to four based on their educational needs, could not afford the basic instructional materials.

The primary school established in 1976, is one of the beneficiaries of Zakiyya's humanitarian and educational sustainability services under her pet project, 'Women, Youth and Children Improvement Support Initiative (WYCISI)'. The joy of the pupils knew no boundary during the donation because they have been attending the 46-year-old elementary school without the instructional materials.

The WYCISI, inaugurated some years back to cater for the downtrodden in the society, has the objectives of providing qualitative early child education, girl-child education and adult-literacy for the women and the less privileged, empower women and the less privileged in the society, to promote safe motherhood and curb malnutrition among children, rehabilitate street children, abandoned children, orphans and refugee children as well as special care to out-ofschool children.

Investigation revealed that poverty remains one of the most obstinate barriers for pupils of the ancient primary school not to obtain learning materials, but the intervention of the governor's wife will increase enrolment, retention, transition and completion of school among children in the community thereby tackling the scourge of out-of-school in the state.

Donating the learning facilities to the beneficiaries, the governor's wife lamented that insurgency and COVID-19 have greatly affected education "but we should strive to ensure that our children are well guided and trained through an established school curriculum".

The “Uwar Marayu” as she is fondly called by those who are familiar with her humanitarian services, admonished traditional, religious, community leaders and philanthropists as well as non-governmental organisations to continue supporting and complementing governments' efforts towards improving basic education in the state.

She added that the state government under the leadership of Governor Aminu Bello Masari, has embarked on prompt payment of teachers' salaries, employment and promotion of teachers, construction and rehabilitation of classrooms, provision of school furniture, toilet facilities, water points, learning materials, among others.

According to her, "These gigantic efforts of His Excellency had produced positive results in the number of students that finish schools with flying colours and can successfully defend their results".

One of the beneficiaries, Salisu Abdullahi, said: "I was enrolled in this school in 2019 but up to now I don't have uniform, textbooks and school sandals because my parents couldn't afford them for me. But today, I have a brand new school bag loaded with instructional materials. We thank Her Excellency for supporting our education".

The primary 4 pupil, who was visibly overwhelmed by the gesture, challenged

Dr. Zakiyya Masari presenting a school bag containing learning materials to Salisu Abdullahi of Achakwale Primary School, Baure LG

parents to prioritise the education of their children by providing them with all the needed learning apparatus for efficient and effective learning to thrive in the state, especially at the grassroot level.

On her part, Aisha Jamilu, a primary 3 pupil, said: ”I am happy today because of the learning facilities given to me by Her Excellency. May Allah bless her and her family members. I will take proper care of my new school bag, notebooks, Hijab and other items".

The Headmaster of the School, Sani Badamasi, noted that the disbursement of the learning facilities to the pupils was the first of its kind since the establishment of the school in 1976, urging community leaders and philanthropists in the state to emulate Dr. Zakiyya's quest of revamping the education sector.

According to him, "Her excellency's commitment to education in Katsina State has been highly commendable and is one to be emulated by other state governor's wives to achieve a total educational overhaul in Nigeria", he added.

As party of the governor's wife effort of transforming and enhancing the society through empowerment and touching the lives of the most vulnerable class to be role models, the 'Uwar

Marayu' has equally donated the sum of N1,000,000 to 100 orphans, widows and other vulnerable women to boost their businesses in Dutsi Local Government Area of the state.

Dr. Zakiyya Aminu Masari has also been providing free treatment and drugs to sickle cell patients across the state in order to reduce and tackle the hardship afflicting them. She has made conquering SCD in the state a top priority and she is leading efforts to translate research into cutting-edge therapies and cures, increase access to care, educate healthcare providers, and encourage policymakers to make strides in universal screening and care efforts.

The governor’s wife has amplified the voice of the SCD community, promoted awareness, and improved outcomes for individuals with the disease. She is equally focused on promoting clinical care, training, and advocacy while providing a platform to encourage stakeholders to work together to develop and implement important projects and activities that will ultimately help and improve outcomes for sickle cell patients in the state.

She has so far elevated the lives of over 7,000 sickle cell anemia patients through the provision of free drugs to them in Daura, Dutsi and Ingawa Local Governments’ SCD centres.

Suffice to say that Dr. Zakiyya Masari has over the years been committed to alleviating and putting smiles on the faces of thousands of sickle cell anemia patients, less privileged, widows, orphans and vulnerable women in the state, particularly those living in rural communities.

It is a well-known fact that the state of

"The gesture done through her pet project, Women Youths and Children Improvement Support Initiative, is aimed at transforming and alleviating the plight confronting vulnerable people, especially the physically challenged and visually impaired persons in the society"

widowhood is worsened by situations of poverty and lack of access to services and resources. Widows, vulnerable women, orphans, less privileged and unemployed youths across the country, irrespective of ethnic groups, religious or political affiliations are among the most vulnerable and destitute people in the society today.

In a bid to eradicate the age-long scenario, the governor's wife embarked on programmes aimed at cushioning the predicament bedeviling them. Such programmes include provision of skills acquisition, training for the less privileged women, youth and children, offering of grant, provision of bursary and scholarship to boys and girls, mostly orphans within the Daura senatorial zone of the state.

Notable among them is the distribution of 600 sewing and grinding machines to women and unemployed youths in Bindawa, Mani, Daura, Mai’Adua and Dutsi Local Government Areas of the state.

She equally distributed N10,000 and N50,000 each as start-up capital to vulnerable women and orphans in 12 local governments under Daura senatorial zone after a one-week training on entrepreneurial skills and business development.

Similarly, the governor’s wife donated 50 tricycles to some selected youths across Dutsi, Daura and Ingawa Local Government Areas and renovated general hospitals Ingawa, Dutsi and Mani. While in collaboration with Bruder Hilfe Foundation, Dr. Zakiyya Masari also donated 80 hand-driven tricycles to physically challenged persons selected across the 12 local government areas in Daura senatorial zone of the state.

While presenting the tricycles to the beneficiaries in Daura, she lamented the spate of hardship afflicting persons with disabilities in the country, particularly those living in rural communities and admonished philanthropists to contribute their quota in assuaging challenges bedeviling them.

She said the gesture done through her pet project, Women Youths and Children Improvement Support Initiative, is aimed at transforming and alleviating the plight confronting vulnerable people, especially the physically challenged and visually impaired persons in the society.

She, therefore reiterated her readiness to work with development partners and corporate organisations within and outside the country in the areas of women, children and youths empowerment for the betterment of vulnerable households in the state. The tricycles, according to her, would go a long way in assisting the beneficiaries in finding their means of livelihood and urged them to make judicious use of the items.

She said: “It is my hope to transform and enhance the society through empowerment and touching the lives of the most vulnerable class to be role models. I sincerely hope that this class will one day serve as role models, by making positive impact and meaningful contributions to societal development.

“It is my belief that the mobility carts (tricycles) would no doubt give a helping hand to the beneficiaries who are physically handicapped to enable them to move around, discover their environment as well as find means of livelihood like any other person".

These notable humanitarian projects and services rendered to vulnerable women, orphans, physically challenged persons, widows, unemployed youths and other developmental projects Dr. Zakiyya Masari executed in communities across the state have earned her different prestigious awards from reputable institutions and organisations, including the National Lottery Regulatory Commission.

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PERSPECTIVE

Ugwuanyi and the Most Peaceful Governor Award Samson Ezea

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ecently, the pacific, humble and performing Governor of Enugu State, Ifeanyi Ugwuanyi was conferred with a national award as the ‘Most Peaceful Governor in Nigeria’ by the Messengers of Peace Foundation.

Conferring the prestigious national award on Gov. Ugwuanyi, at the Government House, Enugu, the National President of the foundation, Dr. Sulaiman Adejoh, disclosed that the honour was in recognition of the governor’s zeal, steadfastness and untiring efforts in ensuring that “there is calmness in Enugu State and Nigeria by extension”.

Dr. Adejoh said: “We have taken note of these efforts because it is not ordinary. It takes somebody that has something upstairs and a man of peace to be able to use all the connections including God to make sure there is peace in his state.

“And by the power given to you as the serving Governor of Enugu State, you have used your God-given ability to make sure that there is relative calmness”.

The National President explained that the Messengers of Peace Foundation is the organizer of the prestigious National Peace Awards in Nigeria; the prominent Queen of Peace in the country and worldwide; and the African Peace Awards, revealing that “by June this year we will be going to London for first Global Messengers of Peace Awards in partnership with Her Royal Majesty, the Queen of England”.

According to him, “We are the only NonGovernmental Organization (NGO) in the country now that has the responsibility of providing peace customized vehicle number plates to promote peace at the grassroots.

“Your Excellency, we are here to identify with your success as the Most Peaceful Governor in the whole country. We have gone round, especially in the rural areas. We saw the good roads. We sampled opinions.

We are going to send you video clips for you to see the positive things your people have said about you.

“We are strongly behind you in prayers.

The same God who gave you the wisdom to build roads, bring your people together and empower them in several other ways is the one that will bless you in the Mighty Name of Jesus.

“So we are here to say thank you so much for all you are doing for your people and in Nigeria as well”.

Responding, Gov. Ugwuanyi dedicated the award to God and stressed that God is the one behind all his successes and the unmerited favour he has gained in life.

Noting that peace is the costliest commodity in life, the governor pointed out that it is impossible to achieve the primary purposes of government, which are security and welfare of the people, without peace.

His words: “If there is a commodity in the market called peace, nations are prepared to buy it at all cost. Because we entrusted Enugu State to the hands of God, we have seen God’s hands in affairs of the state. I dedicate this award to the Almighty God. I also want to say a very big thank you to you all for this honour.”

This award just like the previous ones conferred on Ugwuanyi is a product of careful assessment, examination and acknowledgement of Ugwuanyi's peaceful overtures, dispositions and initiatives that have yielded fruitful outcomes and results.

Adejoh's description of Governor Ugwuanyi is apt , factual and undiluted.

Indeed, Ugwuanyi deserves the award of the most peaceful Governor in Nigeria, being a pacifist per excellence and a leader without boundary.

The award is timely, coming at a time the country is in dire need of a genuine peace maker and a leader that has capacity for and commitment to true national healing, national dialogue and enduring peace.

Since assuming office as governor in 2015, Ugwuanyi's peaceful disposition to governance has endeared him to many within and outside the state. It has also put Enugu state in the global peace map as one of the most peaceful states in Nigeria.

Governor Ugwuanyi receiving his award It was because of these peaceful qualities, that Ugwuanyi was also honoured with the Peace Ambassador Award during the International Peace Day on September 21, 2020 alongside other Nigerian leaders.

So honouring Ugwuanyi with the award of the most peaceful Governor in Nigeria this time is not surprising to those who have followed his political trajectory and leadership exploits since he came to political limelight.

Despite assuming office at a time fragile peace, communal conflicts and political crises cum differences were at its peak in the state, Ugwuanyi has never been daunted or relented in pursuing peace and security in the state till date.

He has remained a champion, symbol and epitome of peace in the state.

He has pursued peace with sincerity, diligence, integrity and fear of God. He has rebuilt broken bridges, reconciled the irreconcilables and mended cracked walls within and outside the state. He has sacrificed a lot for peace to reign in the state.

Even with his exalted and powerful position as governor, he had continued to stoop to conquer.

He has become a pencil in the hands of God to keep the state on the right track and peaceful. He has strongly demonstrated his penchant for genuine peace in every situation, without minding whose ox is gored.

With Ugwuanyi's numerous peace initiatives and overtures, longtime political rivals and warring communities in the state have embraced, dialogued and resolved thier differences in the interest of peace and unity in the state.

The relationship between the executive and the legislature has remained cordial. It is not different in that between the state government and workers as Ugwuanyi has remained one of the most workers' friendly governors in the country today.

Even the oppositions in the state are in total agreement that Ugwuanyi's peaceful and tolerant disposition has promoted democracy, rule of law, sustainable and enduring peace.

To the low and high within and outside the state, Ugwuanyi is a genuine peacemaker who is always ready to sacrifice anything for peace to reign. He has been consistent and practical in his peace pursuits and overtures.

It is for this reason that many laurels, awards and honours have been given to and conferred on him in this regard by some national dailies, reputable national and international organisations and groups before now.

Ugwuanyi's milestones in peacemaking is worthy of emulation and a lesson to be learned. It is at the same time a challenge to political leaders, especially in Enugu State, where Ugwuanyi has become an exemplar and a model in leadership.

It is a lesson because political leaders ought to be peaceful and pursue peace at all times. It is a challenge, because majority of political leaders find it difficult to be peaceful and at peace with themselves and others.

They are often intoxicated or carried away by perks of office and power, forgetting its ephemerality. Ugwuanyi is conscious and mindful of that thus has remained himself in power- humble, focused, accessible, peaceful, diligent, taciturn, lenient, forgiving and caring as well. His peaceful leadership style is exceptional and unique.

As one of my friends will always say, Enugu State has a priest in leadership and politics in the person of Governor Ifeanyi Ugwuanyi, who has resolved and settled lingering crises without rocking the boat or offending anyone.

Ugwuanyi's enviable peace stride is not accidental. It is as a result of the diverse and multi-faceted crisis solving, peaceful measures and approaches he introduced and adopted in the state.

They are unique and novel.

Even whenever crisis which is synonymous with human life occurs, Ugwuanyi's government and other relevant agencies in the state had often intervene promptly and approriately to nip it in the bud or resolve it amicably.

Severally, Ugwuanyi has surprised

"It is not an overstatement for one to say that the major preoccupation of Ugwuanyi's administration for years now is about building bridges, mending the broken hearts and reconciling the irreconcilable differences of Enugu people, knowing full well that nothing could be achieved in the atmosphere of chaos and insecurity"

many by personally and directly getting involved in resolving some of these conflicts between communities, groups or individuals conflicts, deploying the stoop-to- conquer tactics and carrot approach.

This positive and peaceful method of Ugwuanyi's administration is responsible for the tremendous development and giant strides of the state government, individuals and organisations across the state since 2015.

Not carried away by the successes recorded by his administration in that direction and not resting on his oars as usual in his pursuit of peace, Ugwuanyi after the 2019 election set up and inaugurated a 17-man committee on conflict resolution in Enugu Government House. The committee which is first of its kind in the state is headed by a renowned investment expert and experienced lawyer, Dr. Uchenna Ogbu.

Inaugurating the committee, Ugwuanyi said the body is saddled with the responsibility of reconciling individuals, communities and institutions.

The governor said his administration, in the past five years, has “strived to build an Enugu State of our dreams, where there is peace and common brotherhood.”

He pointed out that the committee was set up in recognition that in every community, there are bound to be conflicts because of individual differences.

Ugwuanyi, therefore, urged the committee to ensure conflicts are resolved through dialogue and reconciliation, thereby helping government to discharge its responsibility.

Reiterating his administration’s resolve in setting up other institutional and legal frameworks for dispute resolution, the governor stated that “Enugu State is the first state in the whole of Southeast to set up the Multi-door Court House in 2018 and the third in the country after Lagos and Abuja”.

Responding on behalf of others, Ogbu thanked the governor for finding them worthy to serve in his government and assured him of their readiness and commitment to deliver.

Since then, the committee which is made up of former state and national lawmakers with broad experience in legislations and conflict resolution has playing a vital and complementary role in consolidating and sustaining the peace and unity Ugwuanyi's administration has worked on and for the people of the state since coming into office.

It is not an overstatement for one to say that the major preoccupation of Ugwuanyi's administration for years now is about building bridges, mending the broken hearts and reconciling the irreconcilable differences of Enugu people, knowing full well that nothing could be achieved in the atmosphere of chaos and insecurity.

Prominent among the age-long conflicts/ crises resolved by Gov. Ugwuanyi include the Oruku/Umuode communities crisis in Nkanu East Local Government Area of Enugu State.

This conflict has lingered for years with endless court litigations without solution. It took sincere approach and intervention of Ugwuanyi for the too warring communities to sign a historic peace accord in Government House Enugu on Monday April 8, 2019.

Others are Ugwuaji/Ogui Nike communities conflict in Enugu North Local Government Area, Akwukwe/Akwuke Uwani Autonomous communities crisis which is being resolved through Alternative Dispute Resolution.

Apart from these, through his Midas touch and magic wand, Ugwuanyi has been able to reconcile prominent politicians with different political leanings in the state, whose political differences and struggle for power by all means has been threatening the peace and security of the state before now.

Ugwuanyi is like water. He has no enemy.

He is a genuine and renowned peacemaker in leadership like no other. He is a governor of all irrespective of status, religion, political affiliation and gender. His peace model will remain a reference point to students of peace and conflict resolution.

-Ezea writes from Independence Layout, Enugu State.

24

WEDNESDAY FEBRUARY 2, 2022 •T H I S D AY

T H I S D AY ˾ WEDNESDAY, FEBRUARY 2, 2022

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BUSINESSWORLD R A T E S MONEY MARKET

A S

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

08056356325

F E B R U A R Y

S & P INDEX

1 , 2 0 2 2

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EXCHANGE RATE

OBB

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Investors in Nestle, NB, Stanbic, Seven Others Lost N122bn in January

Kayode Tokede The value of Nestle Nigeria Plc, Nigerian Breweries Plc, Stanbic IBTC Holdings Plc and seven others stocks depreciated by N122.2 billion on the Nigerian Exchange limited (NGX) following investors profit-taking in anticipation of weak corporate earnings, among other factors.

Other stocks that performed poorly in January were; Cutix Plc, Berger Paints Plc, C&I Leasing Plc, Unilever Nigeria Plc, University Press Plc, UACN Plc and NEM Insurance Plc. THISDAY analysis of market

activity during the period revealed that the companies lead top 10 losers in January 20221 amid significant growth in the stock market in the month under review.

Nestle Nigeria Plc, which is on the main board of the NGX witnessed aggressive profit taking by investors, followed by NEM Insurance Plc and Nigerian Breweries Plc. The value of Nestle Nigeria dropped by N96.31 billion in January when its stock price depreciated by N121.50 to N1,435 at the end of January trading on the bourse.

It means if an investor invested N1 million in Nestle Nigeria shares

at the beginning of 2022, he has lost N78,000 investment as the Fastmoving Consumer Good (FCMG) company’s stock depreciated by 7.8 per cent in value.

Similarly, investors’ investment in Nigerian Breweries dropped

by N12.5billion as its stock price depreciated by 3.1 per cent to close January at N48.45 per share from N50 per share it opened for trading in 2022.

Among notable stocks that recorded decline in value were NEM Insurance with a decline of N4.06 billion, Stanbic IBTC Holdings and Unilever Nigeria Plc which dropped

by N3.24 billion and N2.87billion, respectively in January 2022.

Analysts told THISDAY that most highly capitalised stocks like Nestle Nigeria, among others, often record decline not because anything is happening to the company.

The CEO of Wyoming Capital & Partners, Mr. Tajudeen Olayinka said: “It might be related to liquidity challenges that impacted negatively on price. Most of these stocks are not liquid in terms of investors demanding for them. Investors might be willing to exit due to one reason or the other.”

He maintained that Stanbic IBTC

Holdings nine months unaudited result and accounts sent a wrong signal, leading to profit taking by investors.

He said, “Many investors were not impressed with the bank’s nine months result and accounts.

So, they decided to take profit, leading to downward movement in the stock price of Stanbic IBTC Holdings. However, the downward movement of Stanbic IBTC Holdings stock is temporarily.”

Stanbic IBTC Holdings had announced 40 per cent drop in profit in its nine months ended September 30, 2021 unaudited

result and accounts.

The Group’s result made available by the Exchange showed a Profit after tax of N39.9 billion in nine months of 2021 as against N66.2 billion reported in nine months of 2020.

Also, Profit before tax closed nine months of 2021 at N45.3 billion, down by 41 per cent from N76.9 billion reported in prior nine months unaudited results.

On the gainer side, the value of 14 highly capitalised stocks on the NGX gained N2.11trillion, impacting Continued on page 26

Elumelu: Properly Run Capital Market Can Democratise Wealth, Sustain Growth Ugo Aliogo The Chairman of United Bank for Africa (UBA), Tony Elumelu, has stated that a properly run capital market can democratise wealth and sustain growth, noting that wealth creation should follow the concept of Africapitalism.

He said his companies have invested long-term in strategic

sectors of the Nigerian economy to create wealth, while promoting social good.

Elumelu, who disclosed this at a virtual meeting of the 2022 Annual Conference of The Jamaican Stock Exchange (JSE), 17th Regional Investment and Capital Markets, said Africans must find ways to collaborate and strengthen opportunities for its people.

He added that the digital age presents a unique opportunity to improve collaboration through focused strategies.

He also stated that Africapitalism positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent, “business needs to do well and to do good.”

Elumelu remarked that in every small organization there is the tendency to overlook things such as corporate governance as a fanciful thing reserved for large corporates but that is not true.

He also revealed that often times the foundations built at the early stages of a business determine the trajectory of that company adding, “This is a message to all

entrepreneurs, ensure you get your corporate governance right; it is most important to address these issues when you are small as opposed to when you are a larger organization.”

The United Bank for African, Chairman, stated that his companies have not just created wealth but also social good, “Africapitalism is all about doing good and doing well.”

He disclosed that a key tenet of

Africapitalism is the importance of the public sector in supporting the private sector’s efforts through the creation of the enabling environment that will support entrepreneurs and their businesses.

He stated that there is need to ensure that the cultural linkages that connect Africa and the diaspora are Continued on page 26

M A R K E T D ATA A S AT T U E S D AY, F E B R U A R Y 1 , 2 0 2 2 FGN BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027

Price

Yield

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MATURITY

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Current Rate ($/₦)

C Ps MATURITY

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7.76

7.78

0.23

9.63

9.87

0.00

16.95

17.88 0.00

9.53

9.82

0.00

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.

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2

NGUS MAR 30 2022 428.93

3

NGUS APR 27 2022 430.63

4.04 0.00

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NGUS MAY 25 2022 432.32

MREP CP XXXVI 11-FEB-22 UNCP CP VI 2-MAY-22 NEVE CP I 24MAY-22 DANC CP II 25MAY-22

3.72 0.00

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NGUS JUN 29 2022 434.02

.

106.80

6.88

0.04

NTB 10-Feb-22

4.00

4.00 0.00

110.28

8.75

-0.01

NTB 10-Mar-22

2.98

2.99 0.00

109.31

9.99

0.00

NTB 28-Apr-22

4.00

4.04 0.00

104.72

11.00 0.00

NTB 12-May-22 4.00

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11.64 0.00

NTB 9-Jun-22

3.67

CONTRACT TENOR (MONTH) 1

NGUS FEB 23 2022 427.24

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T H I S D AY ˾ WEDNESDAY, FEBRUARY 2, 2022

BUSINESSWORLD

INTERVIEW

‘Nigeria Will Outperform Emerging Markets in 2022’ In this interview, the Chief Executive Officer Parthian Partners, Oluseye Olusoga spoke on the equities, fixed income markets and how upcoming events would shape the market as well as other industry relatable issues. Nume Ekeghe presents the excepts: And even if the interest rates go up, it is expected that people would rush towards that direction and not too much for equities, which is the general overview. But what I’m saying is that because the interest rate, if moved at 200 basis points, is still not that aggressive, that is also why I am optimistic on the stock market.

Can you give an assessment of how the equities and fixed income market fared last year and what do you think the outlook for 2022 would be? ast year was quite interesting, actually, you had the interest rate rises of the FGN bonds and you also saw an increase in inflation before things started trending downwards. So that led to yields actually going upwards. You had a slowdown in terms of volumes in the in the fixed income market, and obviously, as you know, when yields actually go up, prices come down. So, companies like insurance companies would have felt the heat or impact of those yields going up. And so, you then have a situation where people don’t want to actually take those mark to market losses, as it were. For the banks, I think they were fine, they fared moderately okay.

I think that coming into 2022, for the first half of the year, things should be fairly flat. I don’t think rates in particularly would rise significantly in the first quarter and maybe the early part of q2. I think that as, as you start going to the second half of the year, you might see some rate increases, which might lead to a depression in prices of those bonds. But which will then sort of portend, a good entry point if you wanted to get higher yields. So, I think that we should end the year maximum no more than 200 basis points above where interest rates open at the start of the year on the government bonds

L

With the federal government decision to continue fuel subsidy, this creates an even wider deficit in the budget, how would that impact on rates going forward?

My view of 2022 is that interest rates are going to end up higher but I think that could be controlled.

There was a budget and with comes two sides, there is the cost side and the revenue side. And when you think about it, there are some components in the budget that always have to be paid. So, things like salaries, recurrent expenditure and so on. But when it comes to things like subsidies, the real problem is the contribution of Nigerian National Petroleum Corporation (NNPC) to Federation Account Allocation Committee (FAAC) would be significantly depressed because of the subsidy issue.

Yes, the lack of removal of subsidy is going to lead an increase in rates. This would mean that there would be a controlled cap on how much money NNPC can contribute meaning that the government is going to borrow more. And by borrowing more, it means rates would go up. But I’m saying that they are not going to go as high as people might actually think because government has other tools, which they can use to manage that amount of borrowing. Even though I think rates would go up, I am not that bearish that

A lot of young Nigerians presently fancy foreign equities as against Nigerian stocks, what do you think this trend portends for local equities market?

I see this as a fad personally and I think because people got burnt when they did margin lending or borrowed money to buy stocks in 2008 to 2009 so for them it’s like let me not get beaten a second time. So that’s why people are pulling back.

Olusoga they would go significantly higher beyond 200 to 300 basis points.

As elections approach, the usual trend shows decline in the equities market especially as FDIs take capital flight and local investors also take safety, do you think this trend would continue?

The stock market base has more local player when you compare with FDIs so there is not going to be panic of let’s sell because we don’t know who is coming next. I think that impact would be significantly reduced.

So, I don’t think it is a doomsday scenario for equities, I actually think that for 2022 the stock market would be bullish and I actually think it would actually outperform Nigeria, I’m actually fairly bullish on the Nigerian Stock market, I actually think it would actually outperform a lot of emerging market’s stock market.

Now with the US stock markets tanking the way it is tanking, when you’ve invested in the US stocks and your portfolio is not always trending upwards, so you would see a lot of caution.

And then when you look at what has happened to similar retail application in the US and the UK; a company called Robinhood is already complaining about reduced growth and it is because people are losing money and they now know that it is not always in the upward direction.

I think that a lot of people will learn form that, that frenzy will stop and as a result people will come back to buy what they know. I believe that people will start looking at the world differently, come back to what they understand and in the long run there will be a lot of consolidation even around the traditional stockbrokers that you find around because people will be a lot smarter in regards of how they put out stuff.

I think that all these FinTech’s giving access to foreign stocks will also consolidate so there will be fewer of them because profitability will drop significantly as a lot of them are not even yet profitable.

So, a lot of them will either consolidate or disappear completely.

Then we will start having a real test of all of these things, because what happens is that in Nigeria today if you buy equity, you will have a CSCS account but the register in America does not know you who is local, so what they are seeing is the conduit that you are using and that person is running something like an omnibus account over there. So, it is now a question of how does that play out against when things go wrong when people lose money and then become weary.

Are you saying there is a bubble in the fintech space?

I think that there is a bubble there and it is about to burst for most of the FinTech’s in Nigeria. Looking at what is happening in the country presently, Crowdyvest has come out to say that they don’t have money because agric went bad and a lot of them has also said the same thing.

The problem is that the system is so interwoven and a lot of the FinTech are not finance professionals.

If you look at most FinTech, they are mostly young people who started with tech and then they raise money. So, the way a finance firm will go through due process, a fintech would just give out money to random people without that level of depth and it is not malicious; they are actually doing a social good for the economy.

And if those people they are lending to are doing the right thing, then overall, it would be good for the country but those companies don’t have the resource to monitor those they lend to. If this era of interest rate continues, a lot of these FinTech will struggle to raise their series C or next rounds and when that happens, the house of cards will crumble. A few of them like Piggyvest that have raised a lot of money will be fine, but not all of them will be that fortunate to be able to absorb losses, that is why I believe there will be a lot of consolidation in that space.

Can you speak on your firm, how it has fared over the decade, its milestones and what new and existing customers should expect from your firm?

We started in 2012 and we practically wrote the regulation around Inter-dealer brokerage business with the SEC and I was part of the capital market masterplan committee in 2015 and we have spent a lot of time in building the fixed income market because we felt that the fixed income market in Nigeria can actually be bigger than what it was.

The market has actually grown and we as a business have grown with the market. From doing about N200 billion worth of transactions in terms of transaction value in 2013-2014, as at 2020 we were doing roughly around N2 trillion a year in traction volumes. And when you talk about Eurobonds, we were among the first in the country and we went from doing about $30 million to $40 million worth of Eurobonds to doing on average on an annual basis between $300 million to $400 million a year.

So, for us we have evolved on that basis and we have a strong reputation especially as we are big on governance, and then we are actually looking at solving real problems. We would also be looking to expand in terms of the assets management and advisory services we will be providing for other financial firms.

ELUMELU: PROPERLY RUN CAPITAL MARKET CAN DEMOCRATISE WEALTH, SUSTAIN GROWTH strengthened not weakened.

Elumelu added that there is so much to learn from one another, experiences and knowledge must be harnessed for the upliftment of Africa, the Caribbean, and the diaspora everywhere.

According to him, “We must foster collaboration among the African diaspora, no one will develop our communities but us. I want to see close linkages between entrepreneurs

in Africa and the Caribbean. I offer myself as one of the private sector leaders of AfricaCaribbean in this pursuit. Brothers and sisters, let us join hands to create sustainable wealth and prosperity for all.

“Today through partnerships with global development organisations such as the United Nations Development Programme (UNDP), the International Committee of the Red Cross (ICRC), the European

Union, the Organisation of African, Caribbean and Pacific States (OACPS), and the African Development Bank, we have been able to increase the number of young entrepreneurs we support across the continent.

“In November, for our 2021 cohort, we were proud to announce that 5,000 young African entrepreneurs were selected as beneficiaries to receive the non-refundable seed

capital, mentorship, and business training of the Foundation. We were equally pleased to see that 70 per cent of those selected in 2021 were women driving gender inclusivity.

“Our partners have seen the components of our holistic programme and decided to work with us towards a shared vision of a more prosperous Africa. An Africa that is able to better utilise its resources for the benefit of the

continent.

“Our most important resource is our people so we must constantly encourage and support them.

And this is true for Jamaica and the Caribbean. This way, we reduce the vices associated with unemployment and large youth populations, such as terrorism, illegal migration, violence, and all forms of extremism.

“In due time we took the

distressed bank and merged with a historically significant Nigeria bank to become todays UBA, a truly pan-African institution. This was something that had never been done, to turn around a financial institution in distress and then merge with a systemically important bank.

If we were not bold and audacious back then, I daresay, the Nigerian banking sector would look very different today.”

Dangote Cement and MTN Nigeria stock price is expected to affect the capital market movement.

He added that the fundamentals of both companies attracted foreign investors in taking position.

On his part, the vice president, Highcap Securities, Mr. David Adnori noted that increase in macro economy liquidity following a successful bid in bond market in December inflated some of these companies stock price appreciation in January.

According to him: “Towards the end of 2021, a lot of investors subscribed to the debt market that was oversubscribed. These funds are invested in the stock market, a major reason we are witnessing appreciation in market performance.

“Also, we have seen activities that have attracted investors into the stock market. The BUA Foods

listing, the transactions by Airtel in East Africa and Dangote Cement share buyback have impacted on market in the last three weeks.

“Overall, the market is driven by information as regards anticipation towards 2021 full-year result and accounts. Investors are investing in stocks with good fundamentals and dividend-paying stock on NGX.” Responding also, the Chief Executive Officer, APT Securities & Funds Limited, Mallam Garba Kurfi attributed the growth to various activities by listed companies on the NGX. He said, “We have seen the issue of Dangote Cement share buyback, the BUA Foods listing. We have also seen many investors trying to balance their portfolio and it has contributed to the volume of transactions recorded in the last three months.”

INVESTORS IN NESTLE, NB, STANBIC, SEVEN OTHERS LOST N122BN IN JANUARY on the stock market performance in the month under review.

The 14 companies contributed 82.2 per cent or N20.65 trillion to overall market capitalisation of N25.13trillion the stock market recorded in January.

Ecobank Transnational Incorporated leads the gainers chart in terms of percentage, while Airtel Africa contributed significantly in terms of value added.

ETI recorded N3.80 or 43.68 per cent increase in its stock price to add N69.73billion to its market value, while market value of Seplat Energy added N82.38billion when it stock price gained 21.54 per cent or N140 to close at N790 from N650 it opened for trading.

Airtel Africa gained N1.19 trillion in market capitalisation when it stock price gained N316 or 33.09 per cent to close at N1, 271 per share.

Notably, BUA Foods Plc, which was recently listed on the Exchange, added N439.2 billion in market capitalisation when it stock gained N24.40 or 61 per cent, while BUA Cement Plc gained N125.3billion in January.

In early January 2022, BUA Foods was approved by the management of the NGX to list on the Main Board a total of 18 billion units at N40.00 per share and Dangote Cement announced the commencement of the second tranche of its share buyback programme.

The cement manufacturing company said it would be repurchasing 170 million ordinary shares of 50 kobo each, representing one per cent of the company’s issued shares.

According to the company, this includes 40.2 million shares held

as treasury shares, following the conclusion of Tranche I of the share buyback programme. The public offer by MTN Nigeria enhanced investors taking position in the telecommunication giant stock price in January. MTN Nigeria stock price inched up by N0.50 or 0.25 per cent to close January at N197.50 per share.

Commenting on the stock market performance, the chief operating officer of InvestData Consulting Limited, Mr Ambrose Omordion said: “The market had a strong bull run in midst of selloffs and profit booking in Dangote Cement and others.

“But investors buying interest in blue Chip companies and dividend paying stocks that had supported rallied so far in the face of impressive unaudited earnings hitting the market. Recently, MPC

retained rates and NTB primary market auction rates declining in the short and long tenor.

“This should make equity space more attractive for fund managers especially as the presence of foreign investors in our market has declined in the past two years of Covid-19 experience, which might not affect the market even with the normalization monetary policy in the mature economics.

“As rallying oil prices, positive corporate earnings and economic data. The high cap stocks price appreciation, listing of BUA Foods and Dangote cement share buyback program supported the market as January patterns repeat itself after December had suffered loss due absence of Santa Claus rally.”

A capital market analyst, Mr. Rotimi Fakeyejo maintained that a one per cent gain or decline in

T H I S D AY ˾ WEDNESDAY, FEBRUARY 2, 2022

27

BUSINESSWORLD

INSURANCE

Wages of Poor Enforcement of Compulsory Insurance Violation of laws on compulsory Insurances in Nigeria and government’s insensitivity towards the enforcements has spelt untold hardships and untimely deaths to many Nigerians, writes Ebere Nwoji

T

he National Insurance Commission (NAICOM), five years back (January 2017) highlighted enforcement of compulsory insurances nationwide as top issue in the list of its regulartory and supervisory priorities.

The commission, said it would do this through the launch of its medium term plan, the Market Development and Restructuring Initiative (MDRI).

Speaking during a media retreat organised by the commission, the Commissioner for Insurance, Mr Sunday Olorundare Thomas said, “The Commission will re-launch the Market Development and Restructuring Initiative (MDRI) with special and intensified implementation efforts on the following areas; Enforcement of Compulsory Insurance, diversification of distribution channels, increase in Access Points for Insurance Services, Micro Insurance among others.”

It is now exactly five years since the commission made this pronouncement but a critical look at the performance of the compulsory insurances shows that not much has been done by the commission in this all important area of enforcement.

Compulsory insurances are those insurances that are made mandatory by law. In Nigeria, they include Motor Third Party Insurance meant to ensure the safety of Third Party road users; the government has made it compulsory for citizens and residents to have motor insurance before plying public roads.

EMPLOYEE GROUP LIFE INSURANCE

The employee group life insurance law requires every employer of labour with five or more employees to take out a life insurance policy on each of the employees at least three times the annual total emolument of the employee in both the private and public sectors.

In the same vein, the Health Care Professional Indemnity requires every licenced health care provider to obtain insurance before treating a patient. Health care professionals are required to obtain insurance that will protect their patients in case of accidents or fatalities resulting from professional negligence. A health care provider comprises any registered government or private healthcare practitioner, hospital or maternity centre.

Insurance of Public building which law requires that every public building must be insured against liability in the case of loss, damage to property, death or bodily injury that may be caused by collapse, fire, earthquake, storm or flood. It described building as any building accessible to people for educational, medical, recreational or commercial purposes.

Insurance of Buildings under Construction This requires owners or contractor of any building under construction with more than two floors, to undertake insurance from the construction stage. The purpose is to guard the public against construction risks that may be caused by negligence on the part of the contractor; resulting in bodily injury, loss of life or property damage.

The Aviation Third Party Insurance and Marine cargo insurance are also among these compulsory insurances but NAICOM in 2008, slated the first five insurances mentioned above for launch and

implementation.

Checks by THISDAY on the performance of these compulsory insurance policies shows that at the moment, proper implementation of these compulsory insurances has hit a rock while the public has suffered much exposure to the various risks they are meant to cover.

The only policy that enjoyed reasonable level of implementation was the Motor Third Party Insurance which through the Nigeria Insurers Association’s Nigeria Insurance Industry Data base (NIID) initiative is currently making waves in many states especially Lagos and Oyo States where the activities of fakers of the policy certificate have been reduced to the barest minimum and motorist now willing to get their cover from genuine operators.

Aside these, implementation of the other four compulsory insurances has not seen the light of the day but occurrences of the various risks they were meant to cover seem to be on the rise. The worst hit in this regard is the compulsory building insurance which builders have refused to embrace whereas cases of building collapses abound in different parts of the country.

The erstwhile Commissioner for Insurance, Mr. Fola Daniel, during whose tenure the compulsory insurance of public building and building under construction campaign was flagged off, listed structures covered under the Act to include: all buildings occupied by government ministries; extra-ministerial departments; statutory bodies; tenement houses; hostels; and any building to which members of the public have access for the purpose of obtaining educational or medical service or for recreational purposes or for business transactions.

EXPECTATION AND POLICY PERFORMANCE

During the launch, which took place in Abuja, the insurance industry operators who were highly elated projected that the builders insurance, if well implemented as planned by the commission would yield a minimum of N10 billion premium to the industry annually.

Their hopes in this regard became higher when in the same year; state governments started enacting compulsory builders insurance in their various states. The Lagos State government followed by the Imo State government among others led the states.

To further boost activities in the industry through this particular policy, the federal government shortly after the launch approved NAICOM’s recommendation to make possession of compulsory builders insurance certificate a pre- requisite for getting government contract.

But 10 years after, THISDAY checks showed that Nigerian builders are far from embracing and compliance with the compulsory builders’ insurance law.

From available evidence, the policy has performed much more below insurers’ expectation.

It will be recalled that Daniel shortly after the launch had said that the transformation of the insurance industry into a trillion Naira market, a major dream of the industry from the then annual premium income of N300billion was based on the assumption that if all the houses and motor vehicles in Lagos and Abuja alone were insured, the figure would be met.

But a close look at where the industry is today, premium income wise shows that it is still far from meeting the target mainly because though the motor insurance through the Nigeria Insurance Industry Data base (NIID) has yielded substantial premium to the industry, the builders insurance yields fall below expectation mainly due to lack of enforcement.

As at December 2020, the industry’s annual premium income was still below N600 billion.

BUILDERS’ INSURANCE

Section 64 of insurance act of 2003 makes mandatory the insurance of buildings under construction where more than two floors are envisaged. The section says that insurance must cover the liability of the owner of the building in respect of the negligence of his servants, agents or consultant.

Section 65 of the same act makes the insurance of public building mandatory.

Public buildings are defined in Section 65(2) of the Act as all buildings occupied by government ministries; extra-ministerial departments; statutory bodies; tenement houses; hostels; lodges; or licences and any building to which members of the public have access for the purpose of obtaining educational or medical service or for recreational purposes or for business transaction.

Section 65 (4) of the act specifies that 0.25% of the premium collected is to be paid into a Fire Services Maintenance Fund to be administered and disbursed by NAICOM for the purpose of providing grants or procurement of equipment to institutions engaged in fire fighting services in the country.

The act also provides that where there is a violation of this order which derives from the provision of Sections 64 and 65 of the Insurance Act 2003, such offenders are liable to three years imprisonment or a fine of N250,000 or both.

Also, the law prescribes a fine of N100, 000 for a tenant or owner of such insured building in respect of loss of, or damage to property or bodily injury or death suffered by any user of the premises and third party.

NON-ENFORCEMENT OF POLICY

But despite these laws and determination by the insurance regulator to enforce the builders insurance, patronage of the policy and compliance with the law has been on a very low key.

This has compelled NAICOM to solicit for support of government in enforcement of builders insurance.

Apparently, non-enforcement of the policy

has not only affected insurance industry but other allied agencies of government whose services aid insurance such as the fire service.

At a recent forum of insurance brokers in Lagos where the Federal Fire service Department was invited as special guest, the agency was surprised to learn that 0.25 percent of premium from compulsory builders insurance was to go to them to enable them equip their workers for their fighting job.

At one of the Insurance conferences in Abuja, when the issue of compulsory builders insurance came up with its expected aid to the fire service from the premium, a former commissioner for insurance said the service has not received aid from insurers in this regard because no account has been opened to that effect as directed by the law.

The underwriters themselves said not much premium has been realised from the policy.

At the conference, the insurers agreed that government and its relevant law enforcement agencies should help the industry in the enforcement of the policy while the industry should seek for alliance and cooperation from the agencies and help in buying some of their equipment.

The insurers want all hands to be on the deck in the enforcement of the builders insurance arguing that the policy, if patronised will not only save lives and properties in the country but would position insurance to play its role in the economy.

They said the federal government itself should be at the vanguard of this by getting its law enforcement agents to not only enforce the purchase of the policy but arrest and deal decisively with owners of collapsed building in different parts of the country, especially if such buildings lack insurance cover.

Insurance industry analysts said government need to stand up on the enforcement of the compulsory builders insurance because of incessant collapse of building in the country.

According to them, a situation where a building collapsed, killing scores of people and law enforcement agency like the police waited for a whole day before going there, thereby allowing the owner to escape will create room for carefree attitude among Nigerians regarding patronage of the policy.

They also said the section of insurance Act 2003 that talks about supporting fire service command with part of insurers’ premium should be implemented to the last to enable fire service men be handing in fighting fire out breaks in homes and in markets.

According to the analysts, this will solve the problem of excuses of lack of water; break down of fire fighting vehicles often given by the fire service men when their services are needed.

The analysts believe that implementation of the compulsory builders insurance will not only help in the area of claims payment to victims of collapsed building dependants but will also act as prevention against building collapse as no insurance practitioner will want to give cover to any building which standard is questionable.

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

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WEDNESDAY, FEBRUARY 2, 2022 ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Adeniyi: All Indicators Favour Manufacturing Sector in 2022 The Group Managing Director and Chief Executive Officer, Vitafoam Nigeria Plc, Mr. Taiwo Adeniyi in this interview with Kayode Tokede, speaks on the manufacturing sector performance in 2022, stressing that Nigeria economy stands at risk with the signing into agreement the African Continental Free Trade Area (AfCTA). He also spoke on the foreign exchange market, finance Act, VItafoam’s performance on the Nigerian Exchange Limited (NGX), among others.

As the Group Managing Director of Vitafoam, who also doubles as the President of Nigeria Employers Consultative Association (NECA), what is the outlook for 2022? e expected growth and the drives of the economy in 2022 as we have been told and all indicators are pointing towards the manufacturing sector as one of them.

The manufacturing sector over the years has been very quiet. But right now, what you find is that people have now settled in on how to price appropriately. As they price appropriately, they now able to produce a cost and better manage their cost. In any case, it is a pre-election year, there will be more money to throw around and we are all going to benefit from it. The manufacturing sector is expected to be one of the drives of the economy this year.

work towards meeting those needs.

Then, you have carefully won the heart of your customers. What used to be in the past was that people sit at the factories and do all kinds of research and developments.

They bring up all manners of innovations and push it to the market. At the end, they find out the market does not need them and it then becomes a useless effort.

What has dramatically changed the way we do things at Vitafoam is that we are now listening to our customers and because we listen to them, it makes the whole job easy.

We do not benchmark ourselves with what is available in the market. We benchmark ourselves with global standards and what global standards said is that your product must be fit for a purpose. Every man going to the market has a purpose in his mind.

If he goes there and the product aligns with that purpose, you have won the heart of the customer and I can assure you beyond all we do; research, resilient effort, and cohesiveness of our team working to achieve a common goal.

Beyond that, we listen to customers more than before and do not forget that the current economy we run now doesn’t give room for people to throw money around. Consumers are careful about what they spend their money on which must be fit for purpose for them to decide on how to spend their money. When we talked about fit for a purpose, it means quality and the reason why consumer buys our products all over the marketplace.

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How has the annual Finance Act, especially taxation impacted your business?

When you talked about taxation, our grievance with the government remains that you do not trade the horse that throws the coin. If you keep pressurizing those that currently pay tax to pay more, time will come when push will come to fall and it will be a case of I cannot pay any no more.

Rather than continue to look for venues to muscle the horse that currently trades the coin, look for avenues to widen the tax net and that has been our cry to the government.

It is just unfortunate that in this part of the world, the Key Performance Indicators (KPIs) we have set for operators of the economy speak more to what they will call average performance.

If for instance, I was the finance Minster or the finance minster reports to me, it will be nice to sit down and ask such question like how many people pay tax as of today? In six months’ time, I expect that you could have increased that number by 10 per cent or more in a move to widen the tax net.

Rather than say 100 people currently pay tax and we get N100 from them but our need is N150. So, we increase the amount they currently pay so that government can have more money to spend. To me, it is a lazy way of thinking.

A proactive way of thinking to show that you really know what you’re doing and us to say 100 people pay tax at a moment can I increase that by 100 or 120? So that peradventure, I will be able to meet my target of N150 within that net of 120 people. Don’t forget, year-in-year out, if you do not increase tax net, one of the things that you’re going find happened is that you have muscle those who currently payout of the tax net and that will be more dangerous because getting and saying it is not enough, is better than not getting at all. I think with more engagement with the government, they will do something on the long run.

What should the Central Bank of Nigeria (CBN) and other stakeholders do to resolve the challenges of FX for the manufacturing sector?

Foreign exchange for a time to come will continue to be a challenge in the sense that before now, the demand for FX puts the government at an advantage because our benchmark on sales of crude oil always exceeds government target.

Right now, the story has changed and if the story has changed, what are we doing to bring FX into this environment?

That is the reason why the government needed to diversify the nation’s economy, most especially into the Agriculture sector. We are aware, by the government’s intervention in the agriculture sector, it brings about the biggest rice pyramid that was recently launched in Abuja. It has at least shown that the Central Bank of Nigeria (CBN) is doing something to revamp the agric sector.

Truly, the agric sector is positioned as a sector that will grow significantly this year. If we increase our export window, then we expect more FX will be available because what is going to happen is that you will now have less demand on the little FX that is available and once that happens, it is from a request we have made to the government to distribute the little that is available even they begin to look at it critically, then we might have some respite.

Respite in the sense that we said look rather than just distribute what is available without statistics, whoever is asking for FX, be sure of what they are going to us it for and particularly, be sure that FX that is going to manufacturing is the principle used to procure raw materials or machineries that are not available in this country.

Part of it is that CBN now talking about checking

Adeniyi the pricing structure of materials. What the CBN has also find out is that they inflate the price of materials ordered into the country.

What all of things in place, I think there will be some receipt along the pressure on FX. What is your assessment of the operating environment of manufacturers in Nigeria with regards to the cost of forex, importation of raw materials, the influx of adulterated products and challenges at the nation’s ports?

For the organized private of Nigeria, we have been reiterating some of these challenges that are more local. Local challenges in the sense that it is coming from the frustrations we face with the regulating authorities on those who collect taxes; they have become overbearing.

We have said to the government until you make Nigeria Customs Service a non-core generating agency; we can’t have any progress along that window. For as long as customs is given a target, they will device every means to get that money out of importers. It goes to many windows and it is a major issue.

Not just that alone, virtually all the agencies of government. In the wisdom of those who have operated in the economy before, all these agencies were withdrawn from our ports because among these agencies of government, you’ll find that duties interlocked with one another.

You have the National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON) among other agencies at the ports. Before now, there were withdrawn from the ports by a former minister of finance but now, all of them are now back to the ports. These agencies frustrate importation which messes up the whole importation process.

You bring your goods and it takes forever to get it out of the port because it is congested.

Eventually, when it comes, it takes four-six weeks to get the goods out of the ports. Where is that done all over the world? There is no expansion around our ports and economy has grown beyond the wisdom of those that constructed the ports.

Vitafoam Nigeria Plc announced a bumper audited financial performance for 2021 in all metrics, a trajectory of profitability despite the inclement operating environment. What are the factors driving the performance?

Over the years, Vitafoam has witnessed trajectory growth from what it used to be and we have been very careful at doing what we know how to do best.

The first thing is that for every growth that you have seen, there have been market-driven.

Market-driven in the sense that when you know what your market needs are and you

Is acquisition still part of your growth strategy and how are your subsidiaries contributing to the group?

I can proudly tell you that virtually all our subsidiaries are now in positive position. Even the one that used to be the carrying baby of the family has now turned positive. So you have from Vitablom, Vitavisco , Vitafoam Sierra Leone Limited · Vitafoam Nigeria and Vono. They are all contributing to the bottom line of the group.

In the past, they used to take out of the purse but now, no matter how small, every of our subsidiaries contribute to the bottom line of the Group. However, it has taken us this long to be able to bring them to a point where they can be contributing. I tell you some of them, in not too distant future, they will be bigger than Vitafoam. In the wisdom of the creation of these subsidiaries at that time, they are now doing very well. Some of them now supply part of materials that we used for production in Vitafoam which was part of the reasons we set up the subsidiaries at that time.

Part of what that has contributed to profit of Vitafoam is the backward integration effort of the company. While others are running to Europe, other places to look for materials; those materials are manufactured by our subsidiaries and supplied to Vitafoam.

When we are going to negotiating even the materials for production, you find out we are negotiating these materials from the point of strength. These are part of what we are benefiting from setting up these subsidies and they have been of tremendous help to the operations of Vitafoam.

Given the operating environment, how competitive do you envisage Nigerian companies in African Continental Free Trade Area (AfCTA)?

Nigeria runs a major risk when it comes to AfCTA. The major risk in the sense that we have signed on to the agreement but we do not have a choice at the time we signed it.

If we do not sign, others will go ahead and the big brother of Africa will be left behind.

In the spirit of the agreement, we signed the agreement. As regards issues around the operating of that agreement, Nigeria is behind and in the number of platforms. Other countries by the help of Western world might begin to commence that implementation of the agreement. But some of these products will be probably shipped to these countries and they will find their way into Nigeria.

Of course, they will compete with proudly made Nigeria goods because to be honest, until something is done about our borders, we are at risk, which is unfortunate.

Again, the operating environment in Nigeria cannot be compared to other countries, as the cost of production in Nigeria is much higher because as of today, we still struggle with

the key element of production, which is Power.

So for as long as that is still the battle, then the agreement we have signed, other countries will come and benefit from it.

PMI closes at 52 index points in December 2021 and at above 50 index points it is positive but below50 index points, it is negative.

Do you align with the figure given current economy peculiarity that you have painted?

The performance of PMI remains one of those things we always ask questions. What are the factors driving it? If we go by the pictures that we see, it points to be negative but yet, when our statisticians do the computations, it ends in positive. We then started querying what the driving factors are. One of the major driving factors is the performance of the ICT sector.

The things about ICT sector is purely service and it has a way of driving up those figures but they do not have direct impact on the economy as regards talking about influencing environment conditions. What you find happening is that the sector is driving the PMI is not manufacturing and because it is not manufacturing sector, not too many people are benefiting from it. Once you have it, the environmental picture is that nothing is happening and only God’s know where they are getting their figures. Truly, something is going!. If truly manufacturing sector that has the largest employability is the one driving it, then you will see it in the economy.

In some parts of Nigeria, there is still a perception that rigid foam is the only product of Vitafoam. How will you respond to this?

That is part of what we trying to correct with a lot of our marketing activities recently. It is all about education. When people talked about Vitafoam, what usually comes to their mind is “from cradle to grave”. It was our payoff for so many years.

Now, it has gone beyond that and it is a fine act of living. In order words, you get more from just a mattress. We give you comfort, we make your life worth living then just giving a mattress to sleep on. It is the public enlightenment that we are working on for now. We are a household name for all your sleep requirements.

Your living environment can be enriched with Vitafoam products and we are now looking at your vehicles to provide comfort. We did a study and find out in Nigeria there is currently no factory that produces oil filter and we have these numbers of vehicle in Nigeria.

We are known for making life more comfortable for people and we have decided to make an investment in the production of Oil filter. We have set up Vitapart Nigeria Limited to produce Oil filter for our cars. Production has started and people are embracing it. Congratulations on the Company’s proposal of a dividend of N1.50 per Ordinary Share for its 2021 performance as against 70 kobo per share in 2020, how sustainable?

Our dividend payout is sustainable and you must understand that Vitafoam as a company does not do things by speculations. We take circulated risk and if you looked at our performance, you will notice, that it is highly sustainable. For years to come, our stakeholders will be smiling to the bank.

On September 16, 2021, teams of Journalists from British Broadcasting Corporation (BBC) Television were at Vitafoam’s Head Office to shoot films and interview some Officials about one of the Company’s products for global education on how sleep positions impact health. Shed more light.

The documentary was part of recognizing and giving credence to what we do at Vitafoam. We did not influence them as they did their research and found out that it is Vitafoam that has what they need. They came around and do the documentary on one of our products. They educate the public that our sleep is important. What you sleep on is as the quality of sleep you get.

Is there a correlation between the company’s performance and its current share price on The Nigerian Exchange Group (NGX)?

If you are investor, where will you put your money? It goes to confirm the confidence investors have in Vitafoam Nigeria. They have seen the trajectory that it has been on the increase. If I have money to invest, I will invest in such company because if you look at our performance over the last five years, there has been consistent growth.

We continue to record growth and it has gone beyond marginal increase.

Yes, the shares might not correlate with the performance, but it is a share a lot of investors wanted to buy on the NGX. If you check on the stock on the bourse, there are always activities but not enough to buy because those own those shares see the performance keeps appreciating.

WEDNESDAY, FEBRUARY 2, 2022 ˾ T H I S D AY

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BUSINESSWORLD

PERSPECTIVE

Interrogating the Economics, Politics of Fuel Subsidy Removal Bisi Daniels

not only did his successor cancel the sale, he also refunded the $750m paid by the investors.

Obasanjo regretted that instead of the Yar’Adua administration consolidating the sale so that the investors could turn around the fortunes of the refineries, he succumbed to pressure and reversed the sale of the oil facilities.

He said, “ I went to him and said, ‘why did you do this? He said it was because of pressure. So, the pressure of some people was more important than the interest of the whole nation.’

For obvious reasons of corruption, the country has had a strong preference for recurring Turn Around Maintenance of the refineries. Today, all four of them are virtually dead.

Today, it is the same Dangote, whose 650, 000 daily capacity refinery the country is looking forward to for reduction of fuel imports.

Also, today, Labour has set as one of its conditions for peace, functional refineries. If the sale of refineries to Dangote and others had not been reversed, the country would have perhaps by now had a stable pump price.

As we clamour for the new Dangote refinery to start production, we seem to have ignored that the refinery would not subsidise the prices of its products.

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hen sound economic decisions run into political brickwalls, the impact generates confusion of unimaginable proportions and, sometimes with it, loss of direction If Senate President Ahmed Lawan had used the press centre or the briefing room at the State House, Abuja after his meeting with President Muhammadu Buhari, he would perhaps have used the same seat the Minister of Finance, Budget and National Planning, Zainab Ahmed used last year to tell Nigerians about the Federal Government’s decision to, at last, pick the can which has been kicked down the road by various governments.

Of course, the correspondents would also have gleefully grilled him about the seeming contradiction.

Lawan, as he is wont to do because of “the pressure of time,” chose to speak with the NTA when he left the meeting with the President and he seemed to have something urgent to say in a hurry.

“President Muhammadu Buhari did not direct anyone in his administration to implement the removal of petroleum subsidy,” Lawan kicked the can violently down the road.

Nigeria went dumb when the news was reported. He had thrown many people, including the gentle Finance Minister, under the bus in the public glare instead of calling a quiet meeting to discuss the new government thinking for a formal announcement to be made.

But experts say in the psychology of power, the person who is seen to have the ears of the boss, sometimes looks more powerful than usual the pollution of reported speech.

As recently as October 2021, Ahmed had announced the federal government’s decision to provide for petrol subsidy in the 2022 budget, which Lawan had seen, only for the first six months of 2022 as the government looked towards complete deregulation of the sector.

In a way, she was only echoing what the Petroleum Ministry and the Nigerian National Petroleum Company Limited (NNPC) had said or openly wished repeatedly.

Also, for the first time since the inception of his government in 2015, President Buhari, while presenting a N16.39 trillion Appropriation Bill for the 2022 fiscal year to a joint session of the National Assembly, acknowledged how much petroleum subsidy had eroded national revenues, making it impossible for the country to adequately fund its annual budget, despite significant appreciation in crude oil prices.

He had also signed the Petroleum Industry Bill which freed the NNPC from paying fuel subsidy.

NEW INTELLIGENCE?

Sources who claimed to understand Lawan’s urgency attributed it to fresh intelligence indicating that removing the subsidy in the country’s current mood could detonate prolonged protests and possible violence into the election year. It could also cost the ruling All Progressives Congress (APC) the elections.

One analyst in Abuja said you don’t need to be a security operative to know that Labour protests would have been an opportunity for people who have grievances with the government and opportunists to replicate the “Occupy Nigeria” protest that followed ex- President Jonathan’s subsidy removal.

“There was the possibility of prolonged crisis, going as far as to the end of this administration,” he said Lawan must have alluded to some of that threat when he told the NTA, “Many of us are very concerned with the recent agitations, protests and many citizens were so concerned.

Our constituents across the country are very concerned that the federal government will remove the petroleum subsidy. And for us, as parliamentarians, as legislators representing the people of Nigeria, this must be of interest to us.

“And we have just finished our recess; we had gone home to our constituencies and senatorial districts. And we felt the pulse of our people.

But obviously, leaving the heavy yoke of the subsidy around the neck of government is going to be a burden for the next government, which would also have security challenges to deal with.”

“I hope people, who desperately want to take over the Villa in 2023, can figure out the enormous challenges they face,” one analyst said last week. “If it is feared that fuel subsidy

THE NEW PROPOSALS

President Muhammadu Buhari protests could cost them the election, they should equally understand that enormous legacy problems could make the next government fail.”

Already, with oil prices flying so high, sometimes above $90 a barrel, with the possibility of hitting $100, the argument that the People’s Democratic Party (PDP) Government frittered the proceeds of an oil boom during their time has been rendered lame.

That Tuesday, Lawan left Information Minister Lai Mohammed scrambling for a convincing explanation of the Lawan-Ahmed contradiction in order not to make the Federal Government look bad.

He said the following day he was going to consult with all the ministries and agencies handling the issue to know the update.

The confusion appeared to have been cleared somehow by the National Economic Council, which at its first meeting of the year, under the chairmanship of Vice President Yemi Osinbajo, announced that the decision on the removal of the subsidy on petroleum will be made in June when the provision for its payment in the 2022 budget expires.

Even at that point, there was the need for a formal government statement to clear the confusion. Lawan must have seen the need himself when he convened a high-level meeting at the National Assembly.

Lawan’s meeting endorses can kicking Eventually, Lawan convened a meeting at which the Federal Government made a formal announcement of the suspension of plans to remove fuel subsidy, despite the huge hole it creates in government finances.

Finance Minister Ahmed said the Federal Government had initially planned to remove subsidy on petroleum products from July this year but it has discovered that the timing is problematic.

She explained: “The provision was made sequel to the passage of the Petroleum Industry Act which indicated that all petroleum products would be deregulated.

Sequel to the passage of the PIA, we went

back to amend the fiscal framework to incorporate the subsidy removal.

“However, after the budget was passed, we had consultations with a number of stakeholders and it became clear that the timing was problematic.

“We discovered that practically, there is still heightened inflation and that the removal of subsidy would further worsen the situation and impose more difficulties on the citizenry.

“Mr President (Muhammadu Buhari), does not want to do that. What we are now doing is to continue with the on-going discussions and consultations in terms of putting in place a number of measures.

“One of these is the roll out of the refining capacities of the existing refineries and the new ones which would reduce the amount of products that would be imported into the country.”

On his part, Lawan appealed to the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to shelve their planned industrial action over subsidy removal as it has become unnecessary.

In another post-announcement action, Minister of State for Petroleum Resources, Timipre Sylva, who had said it was clear for the “blind to see and the deaf to hear” that the fuel subsidy would not be removed, later convened a meeting with oil marketers in the downstream sector to perfect plans for the full deployment of autogas in filling stations and the conversion of 200,000 commercial vehicles to run on gas this year.

GOING BACK TO THE FUTURE

At the tail end of the President Olusegun Obasanjo administration in 2007, the federal government sold two of the country’s refineries to Aliko Dangote and some other investors for $750m because they were old and less functional but it was strongly criticized by labour leaders and the civil society with threats of protests.

Due to “pressure”, his successor, the late Umaru Yar’Adua, reversed the sale.

Obasanjo said in an interview later that

There are still lingering subsidy issues. Federal Executive Council (FEC) meeting presided over

by President Buhari later announced the receipt of a bill of N3 trillion from NNPC as payment for petrol subsidy in 2022.

Again, Ahmed explained that the NNPC bill is because N443 billion was allocated for fuel subsidy in 2022 from January till June.

“What this means is that we have to make incremental provision of N2.557 trillion to be able to meet subsidy requirement which is averaging about N270 billion per month,” she said.

An euphoric Labour called off their planned protest, and have been dictating conditions for peace, including functional refineries.

Also briefing newsmen at the Aso Villa where Ahmed spoke after the FEC meeting, Sylvia said the Federal Government was going to propose an 18-month extension of the implementation of the Petroleum Industry Act, which legislates the removal of fuel subsidy.

Government thinking is that the window allows negotiations on removing subsidy while allowing some of the refineries, including Dangote’s, to come on stream.

Over the years, the eternal turnaround maintenance of the government’s refineries have, at best, festered corruption and refused to inspire confidence.

Although it is still a wait-and-see issue, confidence seems to have been found in the assurance of Mele Kyari, the Group Managing Director of the NNPC that things would be done differently.

Going by his track record on the job and his credibility, Kyari sounds believable.

But it is not all about body language.

Announcing the programme for total rehabilitation of the Port Harcourt Refining Co. Ltd.’s refining complex, he said, “We are going to get an O&M contract; NNPC won’t run it.

“We want to try a different model of getting this refinery to run. And we are going to apply this process to run the other two refineries.

“The plan, ultimately, is to get private partners to invest in the refineries and get them to run on the same model used by Nigeria Liquefied Natural Gas Ltd, where shareholders would be free to decide the future of the refineries to ensure their long-term operation.”

Perfect! The largely effective NLNG model limits government interference and also has almost zero tolerance for corruption.

The model will be a huge relief, but like the Dangote refinery, it raises the issue of product pricing, which seem to have been muted by now.

With the new variables coming into the equation, 18 months is long enough to resolve all outstanding issues around the removal of fuel subsidy; but it is also enough for government to fumble with the excuse of socio-political considerations What is clear now is that this government and the next cannot continue to turn a blind eye to the huge opportunity cost of fuel subsidy.

Sound economics often suffers socio-political impasse but it eventually triumphs–after long avoidable suffering of people. t %BOJFMT JT BO BVUIPS BOE KPVSOBMJTU JO -BHPT

WEDNESDAY, FEBRUARY 2, 2022 ˾ T H I S D AY

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BUSINESSWORLD

NEWS

‘Nigerian Cocoa Farmers Losing $400 per Tonnes to West Africa Counterparts’ Gilbert Ekugbe The National President, Cocoa Farmers Association of Nigeria (CFAN), Mr. Adeola Adegoke, has stated that cocoa farmers are losing $400 per tonnes when compared with its West African counterparts due to the unregulated cocoa industry.

Adegboke called on the country’s economic managers to bring sanity to the cocoa industry in Nigeria.

In a chat with journalists, added that the $400 per tonnes, which he described as Living Income Differential (LID), represented N55 billion losses annually.

He said: “Because of the unregulated cocoa economy in Nigeria, there is no measure put in place to be able to collect this $400 aside from the floor price that we sell our beans. This $400 is an addition that is meant to support the livelihood of the cocoa farmers in all cocoaproducing nations. In Ghana and Ivory Coast today, they are collecting it. But today, Nigeria is been denied $400 per tonne, multiply it by 265,000 metric tonnes, and it would be running into about N55 billion.

“This is to show you that

the farmers are been shutchanged and it is because of this our unregulated cocoa economy in Nigeria. That is why we are saying that for us to move forward to be even with our counterpart in Ghana and Ivory Coast we have to collect that money.

“We can’t allow about N55 billion annually to waste. This is enough to turn around the fortunes of smallholders farmers in Nigeria. This is enough to turn around the economy of the cocoa communities and to move the economy of the nation forward.”

Adegboke also said that in Nigeria today, cocoa production has grown from 165,000 tonnes in 1999-2000 to 250,000 tonnes in 2013-2014 mainly as a result of high grower prices and to a limited extent, the government support as outlined in the Cocoa Transformation Action Plan of 2015.

“However, the total harvested area amounts to 640,000 hectares and the average yield is about 400 kg per hectares.

“I can tell you that yield improvement is constrained by the age of the farmers, proper management, low

Farmers in North West Decry High Cost of Farm Inputs Onuminya Innocent in Sokoto Farmers within the North West sub region, have decried the high cost of farm inputs especially, fertilizer and other agrochemicals needed for successful farming.

This is part of the outcome of a one-day workshop on Train- the - Trainers, on Climate Smart Agricultural Technologies for selected extension workers and farmers from Sokoto, Kebbi and Zamfara states, by the Nigeria Institute of Soil Science, NISS, North West zone.

Speaking at the workshop Themed: “Climate Smart Agricultural Technologies for Sustainable Food Production,” the farmers pointed out that at the moment, a measure of fertilizer and that of high quality parboiled rice are been sold for same amount in the market.

In his welcome address, the Project Manager, Sokoto Agricultural Development Project, SADP, Abubakar Malami, who commended NISS for organising the second training workshop, noted that such workshops will help greatly in enlightening farmers on good agricultural practices and the need for climate smart agriculture.

Earlier in his remark, NISS North West zonal Co-ordinator, Professor Samaila Sani Noma, disclosed that, the institute has signed a memorandum of understanding with OCP

Africa, on the protection and management of problematic soils in Nigeria.

Professor Samaila Noma, further commended OCP Africa for providing the needed funds for the research.

In his presentation titled, “Climate Change Impacts on Agriculture and Food Security,” Dr. Garba Aliyu Abubakar, stated that, climate change affects food production by adding additional stress to agro-ecosystems; reduce access to food through hardship for rural incomes and livelihoods.

It also affects the stability of food availability, access and utilization through changes in seasonality.

Professor Abubakar Umar Dikko, in his lecture, “Climate Change Adaptation Approaches for Sustainable Agricultural Water Management,” listed Bench terraces, Retention ditch, Earth basin, Semi-circular canal, Farm infiltration pit, Roof top rain water harvesting, Check dam, Raised bed farming, Drip irrigation, Crop rotation, as good methods for sustainable water management under changing climate.

On his part, Professor Samaila Sani Noma, in his presentation stress the need for sustainable increase in agricultural productivity for food security; Strengthening of resilience to climate change through adaptation; Reduce greenhouse gas emissions and mitigation, as objectives of Climate Smart Agriculture.

farm input, infrastructure, extension services. Most importantly, these include

inadequate control of cocoa swollen shoot virus disease and the Phytophthora Pod

Rot (PPR) or black pod disease. In addition to these, is farmers’ lack of

access to loans and the fact that many cocoa fields are old,” he said.

REWARDING CUSTOMERS’ LOYALTY…

L-R: Chief Digital Officer, Fidelity Bank Plc, Lanre Showunmi; Regional Bank Head, Ikoyi, Fidelity Bank Plc, Chetachi Ezenagu; N1 million cash prize winner, Stanley Sunday Okpoto; representative of N1 million cash prize winner (Ajoma Rachael Iyawo), Dare Ajayi; Group Head, Property, Procurement & Vendor Management, Fidelity Bank Plc, Uche Obodoekwe; Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede; Regional Bank Head, Lagos Island, Fidelity Bank Plc, Obiajulu Okafor; at the 2nd monthly prize presentation of Get Alert in Millions Season 5 Promo (GAIM Season 5 promo) in Lagos… recently

AfDB Reaffirms Commitment to Nigeria’s Agricultural Devt Gilbert Ekugbe The African Development Bank (AfDB) has restated its commitment to developing the Nigerian agricultural sector, noting that the sector has the potentials to be the powerhouse in food provision for the continent and the world at large.

The President of AfDB, Dr. Akinwumi Adesina, stated this when he received four Nigerian state governors and the Chief Executive Officer of the Nigeria Sovereign Investment Authority (NSIA) at the bank’s Abidjan head office.

Adesina stated the meeting with the governors was to discuss the rapid rollout of the first phase of the bank’s Special Agro-Industrial Processing Zones (SAPZ) program in their states.

Besides, the Bank’s board of directors approved $160 million loan in December 2021 to get the programme underway in seven Nigerian states and Nigeria’s Federal Capital Territory.

He stated that the AfDB set up the SAPZ program to support inclusive and sustainable agro-industrial development in countries across the continent.

Meanwhile, President Muhammadu Buhari is expected to preside

over a ceremony in Nigeria in February to officially launch the first phase of the SAPZ programme in the country.

The ceremony is also expected to attract the presence of the Presidents of the AfDB, the Islamic Development Bank (IDB) and the International Fund for Agricultural Development (IFAD).

He said that an additional cofinancing of $150 million for the first phase of the programme from the IFAD and the IDB while the Nigerian government would provide $18.05 million toward the programme’s rollout and implementation.

“In Nigeria, the programme will soon get underway in seven states.

The special agro-industrial processing zones will be game changers for agriculture in Nigeria. They will provide world class infrastructure to support food agribusinesses to locate close to zones of production, develop competitive value chains supported by logistic systems that will drive food processing and value addition. The SAPZs will help create massive wealth and jobs in rural areas and turn rural areas away from being zones of economic misery to zones of economic prosperity,” said Adesina.

A communique signed by all

parties affirmed all parties’ joint commitment and acknowledgement that the SAPZ program was one that would be used to transform agriculture across Nigeria.

Akinwunmi invited Arise IIP, a company that specialises in setting up industrial zones, to make a presentation on its experience establishing these zones in Benin Republic, Togo and Gabon.

Expressing great enthusiasm for the SAPZ programme and enjoining his peers to take advantage of its value for development growth, Governor of Kaduna State, Mr. Nasir El-Rufai said: “We are committed to the SAPZ program, all of us as governors, and I speak also on behalf of the President of Nigeria.”

The Governor of Ogun State, Mr. Dapo Abiodun, said: “This promises to be a very successful and transformational initiative, for Ogun State and for the country. This initiative is an important step toward reducing unemployment, a challenge that we face in Ogun State with the growing number of educated young people that are completing their studies with no jobs. There is a nexus between unemployment and insecurity.”

Governor of Oyo State, Mr. Seyi Makinde and his Imo State coun-

terpart, Senator Hope Uzodinma, emphasised that the program would shore up agricultural development in their states.

The Managing Director of National Sovereign Investment Authority (NSIA), Mr. Uche Orji, stressed that agriculture was a key focus area of his agency. Orji said: “The NSIA pledges to work with governors to ensure that procurement is done professionally and on time.”

He said the NSIA would play a key role in the rollout of the program.

Adesina commended the governors for the enthusiastic manner in which they had embraced the programme and enjoined them to continue to be the brilliant chief marketing officers and to attract private sector investment.

He also urged the NSIA to develop a roadmap for the governors to follow in rolling out the initiative. “I want this to work at scale in Nigeria. We need to standardise and avoid being bureaucratic,” he said.

Thereafter, Orji signed a letter of intent committing the agency to provide strategic assistance in procuring transaction advisory firms and other companies to implement world-class infrastructure in the hubs.

AFAN Highlight Steps to Achieve Food Security Gilbert Ekugbe Worried over the high food inflation caused by COVID-19, insecurity and other challenges, the All Farmers Association of Nigeria (AFAN) has highlighted steps for the economic managers to follow to address food insecurity.

The National President of AFAN, Mr. Kabir Ibrahim, in a chat with THISDAY explained that it is time for the government of President Muhammadu Buhari to parley with stakeholders in the agricultural sector to outline agenda that might salvage the precarious food situation in Nigeria.

Ibrahim said that the federal government should ensure that

the 100,000 metric tonnes silos strategic food reserve in each of the six geo-political zones be managed by the Strategic Grains Reserve (SGR) and directly supervised by the Food Security Council (FSC).

The AFAN national president also advised the present administration on the need to resuscitate the GMP (Guaranteed Minimum Price) and implement a special committee through the SGR (Strategic Grains Reserve) to be directly supervised by the Food Security Council.

He noted that this can be achieved by creating a special revolving fund for the GMP to revolve for 2021 and 2022.

He also urged the federal government to create food banks

in the six geopolitical zones at close proximity of 100,000 metric tonne silos each totaling 600,000 to guarantee food security for the Nigerian populace.

Speaking further, the renowned farmer explained that there is also need for government to harmonise all the initiatives in the agriculture space under the supervision of the Food Security Council (FSC) via an emergency arrangement.

He also suggested to government to appoint a Special Adviser on Food Security to address the issue of food shortage in the country.

He urged economic managers to be decisive in promptly disengaging any government official who failed to discharge his or her responsibilities

under this arrangement for the threshold of the country’s agricultural development.

Ibrahim said that the government should “sponsor campaigns aimed at making every Nigerian aware that the question of security is a collective responsibility and not government’s only. While these suggestions are not by any means exhaustive we pray that they will be tried especially against the backdrop of the recent attack on Nigerian Defense Academy (NDA).”

He said that the Federal Ministry of Agriculture and Rural Development and AFAN could encourage farmers to work assiduously to forestall insufficiency at this point.

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NLNG Seeks Partnership With NMDPRA to Boost Domestic Gas Supply, Investment Emmanuel Addeh in Abuja The Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has said that the agency is ready to partner with the Nigerian Liquefied Natural Gas (NLNG) towards solving Nigeria’s energy challenges and increase gas use in cooking, transportation and power generation.

Ahmed said this in Abuja when he received the management of the NLNG on a courtesy visit to his office. He commended the NLNG for its focus in prioritising domestic supply, which he said has had a significant impact on deepening gas consumption in the country.

The NMDPRA helmsman reiterated federal government’s

Ardova Targets December for Completion of 20,000mt LPG Facility Peter Uzoho Nigerian integrated petroleum products marketing company, Ardova Plc, has expressed its optimism to complete and bring on stream its 20,000 metric tonnes Liquefied Petroleum Gas (LPG) storage facility

by December 2022.

According to the company, the LPG facility, which sits on an 8.8 hectares of land in Lagos and reputed to be West Africa’s largest LPG storage facility, underscores Ardova’s commitment to growing revenues from cleaner fuels.

Chief Executive Officer of the organisation, Mr. Olumide Adeosun, made the comments recently during a ground-breaking ceremony to commemorate the ongoing construction of the LPG storage facility in Ijora, Lagos. He said the event marked an important step in Ardova’s evolution to an integrated energy company, stressing that that company was looking forward to a future where renewables and cleaner fuels represent a considerable segment of its product offering and balance sheet.

Adeosun noted that the facility, when completed, would place Ardova at the top of the industry in receiving, blending, storing, and distributing the product to both commercial and retail customers.

He said: “It also indicates the direction of travel for our company, as it spotlights our confidence in LPG as the fuel of the future in Nigeria, in congruence with both the Nigerian government’s gas expansion plan which seeks to make LPG mainstream at the end of the decade and the present growing rate of in-country consumer adoption of the product.

“Ardova’s investment in this facility supersedes the expected commercial returns, as the company is equally focused on the positive environmental and human impact that increased access to gas will create.”

The CEO noted that the company was also particularly interested in the improved socio-economic prospects the development portends for Nigerian citizen. He added that it was especially good for rural consumers, whose reliance on biomass such as firewood makes them vulnerable to attendant health risks and reduces much needed ground cover provided by trees at alarming speed.

Adeosun added: “By December 2022, when construction is completed, we will have a facility that will be both best in class and future ready.”

goal of deepening for autogas as an alternative to petrol to cushion the effect in cases of upward spike in oil prices.

In his comments, Managing Director, NLNG, Dr Philip Mshelbila, said the company will continue to prioritise the growth of the domestic LPG market and increase utilisation by supplying 100 per cent of its propane and butane production.

Mshelbila also revealed the ongoing plans of the NLNG to commence operation for the Nigerian domestic LNG market this year, in line with the government’s plans to boost local consumption.

He explained that the move was part of the company’s dedication to participate in industrialising Nigeria by providing efficient energy in line with the federal

government’s developmental initiatives and as one of the two focus areas of the company.

While pledging the company’s

dedication and commitment to making Nigeria an energysufficient nation, he listed the other area of focus as remaining

globally competitive.

Mshelbila further gave his assurance that the authority as the regulator of the midstream

and downstream, will put in place polices that will help businesses grow as well as a level playing field for all stakeholders.

Fashola: Aggressive Work to Resume on Road Projects After Release of SUKUK Funds Emmanuel Addeh in Abuja Minister of Works and Housing, Mr Babatunde Fashola (SAN) has said that massive work on road projects being funded through the SUKUK would begin in weeks as the ministry awaits the release the fund for 2021 and 2022.

Fashola gave the assurance while speaking after inspecting the ongoing “dualisation” of the Kano-Katsina road phases I and II in Kano and Kaduna States.

“The minister of finance has told us that very soon the SUKUK

fund for 2021 and 2022 will be ready for release and that will be in a couple of weeks from now, so that all of the backlog of funding on works and certificates that have accrued will be paid and work can continue,” he said.

The minister expressed satisfaction on the progress of the project, which was a single carriageway before the decision to expand it to a dual carriageway, thereby making it more efficient for the increased volume of traffic in the area.

On the Issue of compensation

for the people affected by the project, Fashola said that it was essentially a state government responsibility because of the power granted to the states under the constitution with respect to land control.

“What we need really is the right of way, this is the cooperation needed from the states,” he explained. He however expressed confidence that the challenge of compensation will soon be over with the assurance given by the Kano state government that steps were being taken to settle it

and hoped that the Katsina state government would do the same.

He explained that the reason why some sections of the roads were skipped was because of the pending issues of compensation, adding that as soon as they were settled, the contractors will return to those portions to do their work.

The minister described the road as strategic because serves the biggest grain market in the country from where goods are moved to as far as Libya.

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WEDNESDAY, ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

VIEW FROM ABROAD

What is Nigeria’s government for?

Muhammadu Buhari may go but it’s not the leader who matters, the system itself must change

By David Pilling Financial Times (UK)

O

n the British Airways flight between London and Nigeria’s administrative capital of Abuja, one of the airline’s most profitable routes, nearly all the space is taken up with flatbeds. The unfortunate few making their way to a crunched economy section at the back must trudge through row after row of business class.

Evidently, there is plenty of money to be made in Abuja’s corridors of power. Nigeria’s economy may be flat on its back, but the political elite flying to and from London will spend the flight flat on theirs, too.

Next year, many of the members of government will change, though not necessarily the bureaucracy behind it. Campaigning has already begun for presidential elections that in February 2023 will draw the curtain on eight years of the administration of Muhammadu Buhari, on whose somnolent watch Nigeria has sleepwalked closer to disaster.

Buhari has overseen two terms of economic slump, rising debt and a calamitous increase in kidnapping and banditry — the one thing you might have thought a former general could control.

Familiar candidates to replace him, mostly recycled old men, are already counting their money ahead of a costly electoral marathon. It takes an estimated $2bn to get a president elected. Those who pay will expect to be paid back.

There are some promising candidates. If Yemi Osinbajo, the technocratic vice-president, were miraculously to make it through the campaign thicket and emerge as president, the hearts of Nigerian optimists would beat a little faster.

But that may be to underestimate the depth of Nigeria’s quagmire. The problem is not so much who leads the government as the nature of government itself.

Nigeria’s administration is fuelled by oil — though

Buhari not its economy; more than 90 per cent of output is generated from non-oil activities. But for decades, the business of government — whether military or, since 1999, democratic — has been to control access to oil revenues and earn patronage by spreading petrol-dollars to federal and state supplicants.

Outside oil, government raises a petty amount of revenue, proportionally much less than other

African states. Since the provision of services is so dire, no one who can afford to pay taxes is willing to do so. Nigerians with money opt out of the system. They send their kids to private school, attend private hospitals, employ their own private security and generate their own power. The state borrows ever more heavily to fund what little capital expenditure there is and service mounting debts. Like a giant leech at the

top of the body politic, government is essentially there to fund itself.

This thwarts the aspirations of millions of highly capable Nigerians. Officials extract “rent” by controlling access to business opportunities. The objective thus becomes to slow down investment not speed it up.

Almost all the energy, drive and wealth creation in Nigeria happens outside government. New unregulated businesses in the booming tech sector, fashion, design and the creative arts are flourishing.

Every day, tens of millions of Nigerians somehow get by, despite the efforts of those supposedly looking out for them.

As is said of India, Nigeria grows at night while the government sleeps — hardly surprising that some libertarian tech entrepreneurs want the government to withdraw and leave the private sector in charge.

In reality, the government is not too big. It is too small. The federal budget — not counting money transferred to states — is about $30bn, derisory for a population of more than 200m people. Only trust in government — and a willingness to pay taxes — can redress this balance.

Nigeria desperately needs an administration whose energies go not into preserving its own privilege but into providing public goods — basic education and health, rule of law, security, power, roads and digital infrastructure. It must remove distortions and subsidies that direct entrepreneurial activity from production to arbitrage.

The chances of a corrupt system reforming itself are slim. But if Nigeria’s ruling class cannot manage it, any remaining faith Nigerians have in their system of government will evaporate.

That way lies disaster.

David Pilling is a prize-winning reporter and has been editor with the Financial Times for twenty-five years. Throughout most of his career, he has been a foreign correspondent and is currently the Africa editor for the Financial Times._

Rent Bill: Abuja Shylock Landlords Threatening My Life, Adeyemi Alleges Sunday Aborisade in Abuja

T

he Chairman, Senate Committee on Aviation, Senator Smart Adeyemi, yesterday raised the alarm that his life was being threatened by some shylock landlords in Abuja, who felt uncomfortable with his bill which seeks to replace the current annual advance rent payment with monthly payment in arrears.

The bill scaled second reading on the floor of the Senate at plenary.

It sought to stop landlords in the Federal Capital Territory from demanding yearly advance rent payment from tenants.

The proposed legislation was titled, "A bill for an Act to regulate the mode of payment of rent on residential apartments, office spaces, etc in the FCT and for other matters connected therewith."

The bill was aimed at ending the practice whereby landlords demand an upward yearly advance rent payment from tenants.

Adeyemi said the bill sought to replace the current annual advance rent payment with monthly payments in arrears, in order to make life meaningful for workers who are groaning in pains to pay their rents.

Senator Sabi Abdullahi supported the bill and explained that many residents of Abuja, "are groaning in pains to pay house rents in advance."

He said the Senate would be helping poor Nigerians working and residing in Abuja if the bill was signed into law.

He described it as a welfareoriented programme that would enjoy the support of Abuja workers and residents.

Senators Ibrahim Gobir and Bala

Ibn Na'Allah also lent their voices to support the bill claiming that it would end corruption among the workers and immorality among the young ladies who engage in desperate activities to pay their rents.

A former governor of Enugu State, Senator Chimaroke Nnamani, however opposed the bill.

He said the payment of rent should be driven by market forces.

He insisted that the Senate should not dictate the rent payment modalities to the landlords when government was doing nothing to either regulate the cost of land and prices of building materials.

However, speaking with journalists after the plenary, Adeyemi said his life was already being threatened.

He said, "Some of the landlords have even started threatening me

to do one or two things against me if I proceed with the bill and I just laughed.

"When you take up this type of job, it is between you and your God. We shouldn't be afraid of what anybody could do to us.

"The bulk of the people who had acquired much property in Nigeria are those who had taken advantage of the system to corruptly enrich themselves. Unfortunately, they are the same set of people who believe that poor Nigerians should languish in poverty. " I told one of my colleagues who felt strongly about the bill that he does not fear God who had been kind enough to him to own massive property. He is unfair to God and mankind.

"Meanwhile, another Senator who supported the bill said he recently had to pay N6.5m to

bail out one of his sisters whose landlord had given her a quit notice.

"Most of the girls who hang around some streets in the Abuja city centre are professionals who are being forced into prostitution just to meet their obligations to the landlords.

"Many civil servants are stealing public funds not because they wanted to but because circumstances especially payment of rent which had skyrocketed."

Adeyemi added that some Shylock landlords in the FCT were demanding between one to three years advanced rent.

He said the development automatically added, "a huge burden on the masses, subsequently giving rise to desperation and corruption."

The Senator said, "Our economy has not fared better in support-

ing the advanced payment for accommodation.

"In a depressed economy such as ours, advanced payment for rents is indeed an outrageous tenancy arrangement.

"Even in United Kingdom and the United States where we derive our laws and system of Governance, a tenant can only pay for where he has lived for one month (postpaid).

"This tenancy system has continuously impoverished Nigerians who are salaried employees that can only pay rent after haven received their first remuneration.

(In the event that he is lucky to be so paid). This tenancy system is unafrican, unislamic and indeed unbiblical.

"Many residents of the FCT are finding it difficult to cope with huge rent payment, and as

an aftermath to this fact, many houses built within the city center for such purposes are empty.

"Therefore, legislation must be aimed towards a better and developed society, and towards justice, fairness, equity and improved standard of living.

"Yearly tenancy has continued to breed corruption, moral decadence and huge inequality as low income earners who cannot afford to continually pay their rent will, due to the exigencies of shelter for humanity, engage in measures which are unlawful, thereby engaging in corrupt practices, immorality, and even criminal acts to meet this pressing needs."

The Deputy Senate President, Ovie Omo-Agege, who presided over the plenary, referred the bill to the Committee on Housing for further legislative actions.

Aig-Imoukhuede Foundation Opens Applications for 2022 Public Leaders Programme The Aig-Imoukhuede Foundation has disclosed that it is presently accepting applications for the second class of its AIG Public Leaders Programme which is being offered in partnership with the Blavatnik School of Government, University of Oxford.

A statement yesterday explained that the call for applications, which opened on January 27, 2022, was targeted at exceptional leaders working in the public sector across Africa.

The Chairman of the AigImoukhuede Foundation, Aigboje Aig-Imoukhuede explained: “Our mission at the Aig-Imoukhuede Foundation is to transform public sector delivery in Africa and one of the ways we do this is by

building capacity in the public sector workforce.

“With the AIG Public Leaders Programme, we are offering public servants across Africa a unique opportunity to access a world class training programme that will enhance their professional skill set and leadership abilities and empower them to be more effective in their roles. It gives us enormous pleasure to be able to offer scholarships to exceptional public sector leaders who are committed to building a better Africa.”

The Dean of the Blavatnik School of Government at the University of Oxford, Professor Ngaire Woods said: “We are delighted to see the AIG Public

Leaders Programme run again after such a successful first year as part of our long-standing partnership with the Aig-Imoukhuede Foundation.

“The Blavatnik School specially designs executive programmes for public leaders to ensure that participants learn from worldrenowned scholars, outstanding practitioners, and from one another, taking into account the current context for public sector leadership in Africa and the challenges of an increasingly complex and dynamic world.”

The programme aims to strengthen the skills that rising senior public servants need to build cultures of excellence, effectiveness, and integrity throughout

the institutions they lead and across the public sector.

It comprises seven weeks of world-class training led by an excellent faculty from the University of Oxford, who through a blend of online sessions and classroom discussions, simulations, real-world exercises, and group work, provide participants with an unparalleled opportunity to develop the conceptual frameworks and practical tools they need to meet the challenges of today’s rapidly changing and complex world.

The programme alumni have nothing but praise for their experience.

“I was deeply engaged, interrogating both personal and

professional assumptions across a wide range of public service subjects,” Assistant Director and Head of Policy and Strategy at the Pension Transitional Arrangement Directorate in Imo State, Nigeria, Ada Phil-Ugochukwu said.

“Our commitment to the improvement of the public sector across Africa means that this year, applications are invited from all African countries,” Aig-Imoukhuede Foundation Executive Vice-Chair, Mrs Ofovwe Aig-Imoukhuede said.

“This is an investment not only in the individuals who are selected to participate in the programme but also an investment in our continent, in line with our vision to close the gap between Africa and the rest of the world,” she said.

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

EDUCATION WAEC: COVID-19, Insecurity Increased Cost of Conducting 2021 Exam With discussions ongoing among the five-member countries of the West African Examinations Council for the possible return of the West African Senior School Certificate Examination to its original period of May/June, ahead of this year’s examination, the Head of Nigerian Office, Mr. Patrick Areghan stressed the importance of early registration of candidates.

He highlighted the impact of COVID-19 and insecurity on the conduct of the exam while appealing to states that are yet to pay last year’s registration fees to comply so that their students’ results can be released. Uchechukwu Nnaike reports

A

s the COVID-19 recovery process continues, the impact of the pandemic is still being felt in all sectors of the economy and the West African Examinations Council (WAEC) is not exempted.

The Head of the Nigerian National Office, Mr. Patrick Areghan said last year’s examination was challenging because the council was confronted with health and physical insecurity, among other issues.

He said the health insecurity is the COVID-19 which is still an issue. According to him, the council still needs to maintain the protocols in the exam centres and it affects all the preparations and execution and eats deep into its purse.

For instance, he said last year we had to make video clips and send them to the supervisors to convey all the instructions and rules they need to comply with.

To obey the social distance rule, he said a hall that was supposed to take 100 students will now be limited to 50 students. “This means you are going to use two halls and engage two supervisors instead of one, and that cost more money.”

For the physical insecurity, he said the exam was disrupted in some centres and the council had to enrol the affected candidates for the just concluded private candidates examination for free.

In areas that are prone to violence, Areghan said the council collaborates with the state ministry of education to relocate the candidates to safe places and it affects the logistics and other factors.

“Those days we used to drive throughout the night to Maiduguri, now it is risky to travel by road, even when we are going for marking exercise, everybody goes by air.

When carrying security materials, we fly, that one will even quadruple the cost,” he lamented. “Because of the general impact of COVID-19 on the economy, which has dried the pockets of everyone and every organisation, the money is not there and we are made to spend more than triple of what we were spending before.”

He recalled that in Zamfara when there was a total shutdown of communication when officials were sent there on one assignment or the other, the council didn’t know how they were faring or if they were doing what was expected of them. He said they could only return the next day with feedback that would have helped to plan for the day’s exam

Areghan when another set went to relieve them.

“We are hoping that this year the situation will be better than it was in 2021 so that we can conduct the exam in peace. thank God all the state governments were cooperative,” noted the WAEC boss.

The WAEC boss regretted that three states are still owing for last year’s registration fees and their students’ results were withheld by the council.

Three states are still owing the council for last year’s examination and their candidates’ results were withheld by the council. He urged them to comply

so that the council can pay the service providers.

“Every year, there will be many appeals from various quarters for WAEC to release results with the promise that they will pay, the following year, they will come back with the same appeal and be piling up debt. but from 2020 we put our feet down and said no payment no exam, but two states were still able to come in due to popular appeal so we said no payment no release of results,” he further explained. “One would have thought that after the exam such states would be interested in getting the results for

their children, some have not even asked.”

While talks continue among member countries to return the exam to May/June or thereabout, Areghan said the council will organise a sensitisation workshop for all schools, all examination officers, all principals before the supervisors.

“We are going to again bring to their knowledge the rules and regulations guiding the conduct of WASSCE and these are well spelt out in our syllabus,” he noted. “The fact is that even though some of them know, how many of them are willing to comply?”

According to him, there would be an elaborate session with the supervisors to take them through all the rules and regulations, how to treat them, and how to report them.

For the supervisors, he said aiding examination malpractice attracts various levels of punishment.

“If it’s a case of writing on the board or dictating answers or passing written answers to the candidates, we report them to the ministry of education and we recommend actions. If it is not that serious, we do blacklist them on our own and we tell the ministry not to ever nominate such persons,” he stressed.

“The various state ministries of education have been up and doing, they sack, demote and apply various sanctions against them.

For the schools, we could derecognise them or withdraw recognition. It means for two years the school will not be allowed to write the exam like other obedient schools.”

Apart from exam malpractice, Areghan identified non-adherence to registration deadlines as another challenge. He stated that since the council opened entries for the exam in December 2021, no school has submitted entries and the council needs time to print pre-examination, examination and post-examination materials.

He also accused some private schools of registering private candidates contrary to the National Policy on Education which states that there should not be the enrollment of external candidates for school examinations.

To check that he said the council introduced yearly upload of continuous assessment (CAS) from senior secondary one (SS1).

“They have to upload the SS1 and SS2 CAS at a particular time than when they are registering for the exam in SS3 they upload everything together. “From 2019 to 2020 the compliance level was low. But in 2021 the council stood its ground. So this year, without the CAS, there will be no result,” he said.

Encomiums as Friends Launch Book to Honour Ogundipe at 60 Uchechukwu Nnaike

Friends of the Vice-Chancellor of the University of Lagos (UNILAG), Professor Oluwatoyin Ogundipe recently launched a book: ‘Oluwatoyin Temitayo Ogundipe @60: Audacity of Resilience’, to mark his 60th birthday.

Guests at the public presentation of the book took turns to eulogise him for his resilience and achievements despite his humble background.

Governor Babajide Sanwo-Olu of Lagos, who commended Ogundipe for attracting the most

grants to the university, described him as a bridge-builder.

He said the feat showed that the vice-chancellor could network and explain to supporters of the university why they need to encourage its academic excellence.

Sanwo-Olu said Ogundipe put all his experiences together in the book while he is still active and still has a lot to contribute to mankind.

He recommended the book to the youths and advised them to emulate the vice-chancellor who took advantage of the opportunity at his disposal to make an impact.

The governor used the occasion

to announce the approval of two more universities for the state by the National Universities Commission (NUC).

He said the additional institutions, the University of Science and Technology and the University of Education would expand access to higher education in the state, as the two existing universities have been overstretched.

The Editorial Team Lead, Prof.

Obinna Chukwu, said some of Ogundipe’s colleagues, friends, associates and mentees birthed the idea of writing his odyssey as a tribute to his success, audacity

and resilience even in the face of a dark cloud.

He said the 340-page book of five parts and16 chapters, sampled opinions of people whose lives Ogundipe had impacted.

According to him, the committee of friends looked at him from the cradle through his career trajectory and ascension to the 11th floor of the senate building as UNILAG’s 12th vice-chancellor.

Chukwu, the Deputy ViceChancellor, (Management Services), described Ogundipe as a man who not only has great values for hard work, honesty and selflessness but has also

demonstrated them over the years.

He said the book would inspire readers to be focused, determined, steadfast, audacious and resilient while keeping their eyes on the goal.

The book reviewer and Managing Director/Editor-in-Chief of The Guardian Newspaper, Mr. Martins Oloja, said the book was well written and edited by academics.

Responding, Ogundipe thanked the Pro-Chancellor, Senator Lanre Tejuosho and other members of the university community for supporting him to transform the institution.

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

EDUCATION

Curbing Bullying Through Purpose-built Schools, Discipline Mrs. Folashade Oluwatoyin Philips is the Executive Director, Vine Crest College, Iperu, Ogun State. In this interview with selected journalists, including Funmi Ogundare, she explained why schools must be purposely built and discipline must be a guiding principle to curb the menace of bullying. She also said schools must control their population for thorough supervision to be possible and effective, among other issues

S

ince 2021, the issue of bullying has remained pervasive and a growing concern for all education stakeholders who desire to make schools safe in Nigeria.

Mrs. Folashade Oluwatoyin Philips, the Executive Director, Vine Crest College, Iperu, Ogun State, added her voice to the conversation.

She recalled how the idea of establishing the school came up during the burial and memorial service of her late father in Iperu.

“Deciding on where the school will be established four years ago was a challenge. Lagos was on my mind, but something jolted me looking at Iperu. The bishop of our family church here in Iperu, Methodist Cathedral, while he was addressing us when my father died, told us that since we are from a family of educationists, we should think of setting up an education foundation in this town,” she recounted.

Her focus shifted from Lagos to Iperu.

“That was how we started looking for land and the college came to be.

We had to invite some like-minded people who love education and Iperu,” she noted. She said the like-minded people had been of tremendous support till today.

Philips said she is driven by a passion to transform and change children to become something in life, adding that before she established the school, she visited the traditional ruler of Iperu, Oba Adeleke Adelekan Basido who expressed excitement about the project.

Asked what she wanted to do differently based on her experience, the executive director said she wanted a purpose-built facility that will take into consideration how young people behave, their needs and what will make them very comfortable.

Philips who had taught in and moved through the ranks in various schools such as Igbobi Girls, Yaba, The Bells, Ota, and Atlantic Hall, Maryland, affirmed that a purpose-built facility will go a long way in curbing bullying in schools, adding that there should be close supervision of the students.

Asked what informed the school to have a boarding facility, she said, “I believe in boarding schools because you will be giving an all-round education apart from academics. You are interested in their character moulding which is very important. You want

Mrs Philips

them to be independent.

When they are at home, they are not able to do things by themselves, but when they get here, they learn to manage their time because there is a daily routine and also learn to tolerate people and assist one another.”

She said the school ensures that the students take up

chores of tidying up their rooms and washing the bathroom and toilets, noting that she is a stickler for discipline.

“I believe that children must be well raised, male or female. That was the kind of upbringing I had and I know how beneficial it is to both gender.”

She expressed concern that today’s parents are making a great mistake by not allowing their children to do anything in the house saying that

they are not helping themselves or their children.

Emphasising the heightened concern about insecurity where parents tend to over-protect their children, the executive director said, “They have every reason to be concerned than to let their children go straight or on errands. Sometimes, parents should strike a balance, their children must be made to be responsible. You should teach their children to be observant of their environment.”

On how the college ensures that no child is left behind academically, Philips said supervision is key in a boarding school as you have to also think of the population.

She said the size of a school should be manageable for thorough supervision to be possible and effective, adding that once the number is manageable, a teacher can monitor who is underperforming.

“From test and assessment, you get to know when a child is not moving up and you get data which is to be used. Something needs to be done when a child’s scores are dropping, there should be intervention immediately.

Here, we have a learning support programme,” she added.

Some students may also be deficient in some areas as a result of birth defects, as the executive director said once the college realises that, it plans their programmes differently.

“They may not be able to cope with 16 subjects like others, so we reduce their load and put them on another curriculum, for instance, IGSCE which has various levels, but you know they are not stupid. When you discuss with them, they do that intelligently, they are smart and contribute in class, but when it comes to exams, they can’t cope or they may not be able to attempt those questions within the time limit.

She expressed concern that most public schools are overpopulated and teachers overstretched, adding that government should decongest the schools.

“It is going to cost a lot of money because money has to be pumped into education. It’s not cheap. How do you want them to mark class assignments and be thorough? We can’t cut corners, it won’t work,” added the educationist. “Imagine if there are no private schools! Private schools are complementing the efforts of the government and should be commended and supported.”

13 Chibok Students Matriculate NGO Mobilises Youths for Climate Change at AUN Thirteen students from Chibok who have completed an intensive programme under the New Foundation School (NFS) were among those who took the traditional ‘community oath’ of the American University of Nigeria.

The 13 young women from Chibok joined other new students from all the 36 states of Nigeria, Rwanda, Niger Republic, and Cameroon, to participate in the Spring 2022 Semester Convocation and Pledge ceremony along with parents, friends and relatives.

President Margee Ensign,

who presided over the ceremony, extolled the merits of the American-style liberal arts education offered at AUN. She said it was purposefully designed to develop solutions to local, regional, national, and global problems.

Last October, 57 Chibok students from AUN’s New Foundation School (NFS) were admitted into AUN’s undergraduate programmes.

The Chibok students enrolled in the AUN New Foundation School (NFS) programme on the scholarship of the federal government.

Ensign explained to new

students the American style of education and how it can help them and Nigeria.

Ensign added that AUN had made a huge impact in the region and on Nigeria as a whole and remains a reference point for quality and innovative learning and a catalyst for development.

“Our faculty have been at the forefront of cutting-edge development research. Our graduates have gone on to help change the world. Our Atiku Institute is making a massive difference in our community, state, and region.”

Funmi Ogundare

A non-governmental organisation, ‘Our Tomorrow’ committed to the climate change ecosystem is mobilising youths across Africa to save the environment and galvanise positive action towards it.

The founder, Prince Emeka Obasi who spoke during its launch, recently in Lagos, noted that its target is to ensure that the voices of the youths resonates loudly and clearly and catalyse positive action.

He highlighted the organisation’s three-point agenda which include; waking the African

youths to the reality of the existential threat climate change poses to their future, mobilising resources to campaign and creating sustained awareness of the youths on the need to be actively involved in the battle to save the environment for their future and that of future generations, as well as sensitising African leaders both at the government, corporate and non-government levels to heed the clarion call for sustained action against climate change.

He expressed concern that the continent is being ravaged by multinational corporations which are extracting resources

without adequate consideration for the environment, adding that the youths must rise against this injustice and save the environment for our tomorrow.

Obasi recalled his recent trip to Ogoniland, Rivers State to see, assess and raise awareness about the effects of environmental degradation saying the government must hasten the cleanup of the community affected by the oil spill.

“Their means of livelihood which revolved around fishing and farming has been destroyed by the environmental degradation caused by the oil spill.”

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

EDUCATION

EdTech Mondays: Driving 21st Century Nubian American Advanced College Trains Education with Technology EdTech Mondays, broadcast every last Monday of the month, has become a platform for edtech entrepreneurs, education stakeholders, and government representatives to rub minds on pertinent education issues and examine how the country can leverage technology to advance the cause of education.

The programme is part of Mastercard Foundation’s strategy to find solutions to Africa’s youth employment and poverty challenge over the next decade.

The foundation said this strategy will ensure that 30 million young people in Africa secure dignified and fulfilling jobs, particularly young women.

The EdTech Mondays session themed ‘Gender Inclusion and Equality; Promoting Young

Women’s Leadership Roles in Society’ arrived at a consensus that excluding girls from getting a good education is not sustainable.

It was agreed that easily accessible platforms such as WhatsApp and Facebook should increase accessibility for girls with loaned devices.

At the same time, technology companies should develop more accessible and affordable technology using more diverse developer teams and testing these technologies on a more varied audience.

In addressing prevailing challenges in the education sector, EdTech Mondays highlighted the top five education challenges that EdTech can address.

This edition posited that EdTech could improve access

to teaching and learning aids, reduce exam malpractice, improve assessment and monitoring of students, revive outdated curriculum and provide continuous learning and opportunities for teachers.

Recent editions of EdTech Mondays reviewed policies to enhance STEM education while highlighting its importance for the future of work. A subsequent edition discussed ‘Open Educational Resources’ and if EdTech should harness open licenses.

Another set of panelists who discussed the topic ‘How are parental perceptions of EdTech evolving’ concluded that monitoring screen time and cyber security formed the pressing concerns parents faced over the adoption of EdTech learning.

They recommeded restricting screen time and monitoring sites visited, driving down costs, and offering freemium models as preferred solutions to parental concerns.

The experts added that the role of technology in education includes more productive individualised learning, better opportunities for collaboration, engagement borne out of a different learning style, improved teacher productivity and efficiency, enhanced creativity, and enabling future-focused learning.

Mastercard Foundation hopes to inspire these and more through critical conversations around the use of technology in improving education. The EdTech Mondays series continue in 2022.

Students on Leadership

The Chairman, Board of Trustees, Nubian Foundation and chief promoter of the Nubian American Advanced College, Dr. Azhinoto Ikpah has expressed the college’s readiness to empower students with leadership, economic and social skills like in America, which has a holistic education system where there is a defined relationship between education, industry and society.

He said this during the dedication of the college building in Lekki Lagos, by the Arch Bishop, Province of Lagos, Diocesan Bishop of Lagos and Missioner, Most Rev. Humphrey Olumakaiye.

The event was attended by other board members and promoters who have supported the vision of creating the college.

Ikpah described education as the key to unleashing the potential of the youths of today, saying that the college is determined to offer the best education to students.

He noted that Nigeria seats at 124th position in the world in the global education system and 25th in Africa behind Rwanda, while Ghana

ranks 104th and 12th in Africa ahead of Zimbabwe, and this is a major cause of concern.

According to him, the college is initially modelled after the American two-year community college, where students can transfer their semester credit hours to any of its partner universities in the US or Nigeria.

Ikpah added that part of the uniqueness of the college is that it offers work/study and cooperative programmes for those that need the extra funds to afford their education and internship programmes with companies and Industries to provide students with hands-on education and familiarity of the quality of students with the private sector to facilitate jobs at graduation.

The college also has an endowment fund to support scholarships, research, infrastructure, and award-winning instructors.

While dedicating the building named BARAK HOUSE, Rev. Olumakaiye prayed for a successful take-off of the college in resounding health, good staff, and students that will take the institution to a greater height.

International Day of Education: 9mobile Queen’s College Principal UrgesYouths to Unveils Future-CEO Initiative Consider Teaching

From left: Chairman/CEO Nubian Group, Dr. Azhinoto Ikpah; Mrs. Nengi Kiri-Wakama; Diocesan Bishop of Lagos; Most Revd. Humphrey Olumakaiye; board members: Venerable Kiri Wakama, and Mrs Mobola Fashola, at the dedication of the Nubian American Advanced College building in Lagos... recently

Uchechukwu NnaIke

The Principal, Queen’s College Lagos, Dr. Tokunbo YakubuOyinloye has stressed the need for more youths to embrace the teaching profession.

She said the move would redouble efforts geared towards nation-building and accelerated growth.

She said this during a capacity building programme for over 200 teachers of the school recently.

She described the teaching profession as the only one that drives and decides the progress of any nation and teachers impact lives and society.

“I am advocating that the younger ones look more towards the teaching profession. You help to build the nation when you educate a child, especially we that are into girl-child education.

When you educate a girl-child, you educate a home and the entire nation,” she stated.

She commended the government for the elongation of teachers’ years of service, saying that in the next five years there would be more people who will now retire at 65 or after 40 years of service.

“There is hardly any career that does not benefit from the teaching profession. As teachers, we do not just concentrate on

academics, we also have the opportunity to counsel students, shape their morals for all-round development, give pastoral care which assists in building a total man.”

Yakubu-Oyinloye noted that the college had also taken the issue of constant training and retraining of teachers seriously, as it is only through such initiatives that best practices can be achieved and sustained.

She added that training enables teachers to upgrade, exchange knowledge and ideas, as well as keep abreast of current trends.

According to her, the college has lined up other training for

its teachers in the year, including pastoral care for students, record keeping, effective teaching and learning, as well as how to be an effective form teacher.

One of the resource persons, Mrs. Rachael Elujoba, Director, Federal Education Quality Assurance Service, Lagos Office, said constant training and retraining of teachers had been the watchword of the college.

“We expect to see teachers that are caring, full of compassion, and would not want to be coerced to do what they need to do. They should be able to also keep proper records of the students and ensure that they are monitored,” she added.

Invest in Education to Reduce Poverty, Insecurity, Says Peter Obi Uchechukwu NnaIke

Ex-Governor Peter Obi has again called on government at all levels to see investment in education as a veritable tool in the war against poverty, insecurity and other societal ills in Nigeria.

Obi made this remark in his

message to mark the International Day of Education 2022.

He argued that with investment in education, the issues of insecurity and poverty will be greatly reduced. He stated that education is the most important tool for the socioeconomic, political, scientific and technological advancement

of any society and that it is a tool for poverty eradication and human development.

The former governor reiterated that education is the most important investment any nation can make. He observed that most of the ills being experienced in Nigeria are as a result of past and present

non-attention to education. He called on the government, at all levels, to always prioritize educational investment.

Obi further advised all Nigerian students to always take their education seriously as it remains the only capital they need and will lead them to greater heights in life.

In commemoration of this year ’s International Day of Education, 9mobile has announced its Future-CEO initiative, aimed at stimulating the interest of young students of secondary school age in business and leadership.

According to 9mobile, the initiative aligns with the brand’s CSR commitment to education and firm belief in supporting and providing self-discovery and expressive platforms for youths to thrive.

Speaking on the initiative, the PR Lead, 9mobile, Chineze Amanfo, emphasised the need for youths to have unfettered access to quality education.

She said: “At 9mobile, we understand the importance of education in shaping the life of a child. This informed our unflinching support towards the growth and development of the educational system. The Future-CEO Initiative is another educational initiative by 9mobile

to encourage students to aspire to greatness in whatever field they have chosen to pursue.”

In implementing the initiative, 9mobile will collaborate with the Lagos Education District II comprising schools in Ikorodu, Kosofe, and Shomolu local government areas. The selection process will start with a speech competition in partnership with the Literary and Debating Society in schools with Education District II, Lagos.

The process will run for four weeks, with video entries submitted electronically, after which one winner will emerge from a strict judging exercise. The winner will get to visit 9mobile head office in Lagos to be hosted by the CEO in addition to receiving other exciting prizes.

The UNESCO International Day of Education is celebrated on January 24 every year. The theme for 2022 is ‘Changing Course, Transforming Education’.

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

CITYSTRINGS

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

Succour as Foundation Empowers 3,000 Imo Indigenes To alleviate poverty and reduce criminality in the society, the Prince Alex Mbata Humanitarian Foundation recently donated N400m worth of equipment and cash to indigenes of Owerri Zone, Imo State, writes Amby Uneze

Beneficiaries

Motor bikes

I

t was not the usual tokenism politicians embark on when seeking the support of the masses; neither was it the distribution of branded small bags of food items they share to the people in order to buy their votes.

This was the mother-of-all empowerment programmes ever executed in the area and it, according to the organisation, was borne out of his desire to reduce poverty and criminality in Owerri Zone comprising nine local government areas (LGAs).

For over 3,000 locals and residents in the communities, December 16, last year, would remain unforgettable as their lives changed for the better at Admiral Ndubisi Kanu Square, along Concord Boulevard, Owerri, where they received motorcycles, sewing machines, hairdressing equipment and funds to start up their own businesses.

The event which took place at the Heroes Square now renamed Admiral Ndubisi Kanu Square along Imo Concorde Boulevard, Owerri, capital of Imo state witnessed huge crowds of men, women and youths from the 104 wards across Owerri zone.

The nine local governments include; Aboh Mbaise, Ahiazu Mbaise, Ezinihitte Mbaise, Ikeduru, Mbaitoli, Ngor Okpala, Owerri Municipal, Owerri North, and Owerri West.

Also on hand to appreciate the gesture was the governor of the state, Senator Hope Uzodimma and members of his enlarged state exco.

Beneficiaries that were drawn from the 104 wards of the zone went home with items ranging from motor bike, sewing machine, hairdressing equipment and cash.

There were 300 motor bikes, 500 sewing machines, 500 hairdressing equipment and

Sewing machines

Prince Alex Mbata

1000 people were also empowered with cash of N50,000 each, 2000 bags of rice, all geared towards assisting them to start up small and medium scale businesses.

According to its founder, Alex Mbata, PAM foundation was established in 2015 with a firm commitment to serve humanity and build a credible future for Nigerians with the aim of supporting and empowering the less privileged, orphans, widows and indigent citizens of the state.

He maintained that as at present the foundation has empowered over 15,000 Nigerians and is still counting, adding that the effort of the foundation was to support and complement the leadership

of the state and to help in the elimination of insecurity in the state.

“I am honoured to lead this institution which has accomplished so much over the past years. I am profoundly grateful to God who has made it possible for me to do these things.

"I also appreciate the governor of the state for the privilege to be able to extend our humanitarian services and impact the lives of the great people of the state.

"PAM has just started, and greater things would be done by the foundation to the benefit of the people of the state as we work with our governor.

"We are releasing a revolving loan of N5

million to the nine local government areas each and we will start by giving out N100,000 to be paid back in six months and the person would graduate to get N200,000 additional loan. We are doing this to help the poor traders to be able to continue in their small businesses”, he said.

Governor Hope Uzodimma, who was exceedingly excited all through the day by the number of hours he spent at the venue acknowledged the founder for his milk of kindness and called other well-to-do sons and daughters of the state to emulate him.

“I am so passionate about this programme because PAM is empowering the poor and the needy. Government only cannot do everything to the people; therefore I congratulate him for helping the government to empower our people,” he said.

The governor called on those in government to use part of their budget to empower the people as ‘Mbata who is not in government could use his personal resources to create this type of huge empowerment to the people, those in government can do more.”

The chairman of the event, Chief E.C. Iwuanyanwu eulogised the founder, adding that it was his footstep that Mbata was toeing to empower the people, especially the poor and the needy.

Some of the beneficiaries of the empowerment expressed gratitude to Mbata for championing the programme and making sure that the distribution was equally done.

They promised to make use of the items judiciously by using it to reduce unemployment and creating jobs for other people.

The event attracted many traditional rulers from the Owerri zone as well as government functionaries.

Akin Alabi Foundation Celebrates 10th Year Anniversary Nosa Alekhougie As part of its commitment in improving the well being of Nigerians, the Akin Alabi Foundation has empowered 112 women with cash gifts.

This was done recently at the just concluded 10th year anniversary of the foundation, which held in Ibadan, Oyo state, Nigeria.

Honourable Akin Alabi, a member of the House of Representatives representing Egbeda/ Ona Ara Federal Constituency in Oyo State, is also a philanthropist who established the Akin Alabi Foundation in 2011, a non- governmental organisation (NGO) that is aimed at touching lives as well as alleviating Nigerians out of poverty.

As part of the celebration, he gathered both the young and old and had a prayer session where he was full of thanksgiving

Hon. Akin Alabi and the 100 youths he empowered on how far the foundation had come.

Speaking on the sidelines of the

event , the lawmaker said he was grateful to God for the consistency

to be able to hold this annual event for the past decade, adding that he’s looking forward to doing more.

He said : “ We empowered 112 women with cash gifts as part of our 250 million empowerment program that has been going on for two years. " I also hosted hundred youths and gave them a mini seminar where I taught them business and marketing.

I also gave them free copies of my best selling books, Small Business Big Money and how to sell to Nigerians.”

Akin Alabi’s foundation has successfully implemented projects like building and donating classrooms to primary schools, sinking of boreholes where there is scarcity of water and empowerment of widows.

So far, over a thousand and half people have benefited from the initiative in a decade.

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T H I S D AY ˾ WEDNESDAY FEBRUARY 2, 2022

CRIME&SECURITY

Commitment to Supporting Anti-corruption Initiatives The U.S. Consulate and religious leaders recently deepened commitment to support anticorruption initiatives, promote accountability, transparency, as well as empower reformers.

Chiemelie Ezeobi reports that they launched an anti-corruption website, a unique web-based portal that leverages citizen engagement to fight corruption

US Consul General Claire Pierangelo (third right) with members of the Inter-Religious Coalition Against Corruption in Nigeria

T

he U.S. government has reiterated its commitment to supporting anticorruption initiatives and collaborative efforts that prevent graft, strengthen investigation and prosecution of corruption, promote accountability and transparency, and empower reformers.

Last Friday, the U.S. Consulate General in collaboration with the Inter-Religious Coalition Against Corruption in Nigeria launched ReportMagoMago.com, a unique web-based portal that leverages citizen engagement to fight corruption.

Led by Bishop Emmanuel Gospel Isong and Imam Shefiu Abdulkareem Majemu, the Inter-Religious Coalition Against Corruption in Nigeria was formed in 2016 by Muslim and

Christian religious leaders with the primary goal of addressing how faith communities could take a leading role in anti-corruption advocacy in Nigeria.

During the event, participants received a guided demonstration of the ReportMagoMago.com platform.

In addition, political, traditional and religious leaders, members of law enforcement, judicial officers and civil society representatives renewed their commitment to the fight against corruption.

Speaking during the launch of the website in Lagos, U.S. Consul General Claire Pierangelo explained that ReportMagoMago.com puts the

power to report corruption in the hands of the Nigerian people.

Pierangelo urged Nigerians to demonstrate their commitment to the fight against corruption by making use of the innovative online platform which seeks to address the daily instances of corruption faced by millions of Nigerians.

“Countering corruption is not only a key concern in Nigeria but also a core U.S. national security priority for the Biden Administration,” Pierangelo said.

“Growth and development, consistent with the richness and strength of Nigeria, depend on a new narrative and a culture where corruption has no place.”

Pierangelo expressed optimism that the new initiative will encourage Nigerians affected by

corruption to feel empowered to share their experiences and spark a new movement in citizen engagement in fighting the scourge that has hampered development and stifled prosperity in the country.

The United States, through a number of agencies, including the U.S. Department of State and U.S. Agency for International Development, takes an all of government approach to fighting corruption, a key component of the United States’ national security strategy.

"We work to hold the corrupt accountable through robust diplomatic engagement, by supporting multi-stakeholder initiatives and civil society, through foreign assistance to build stronger partners and transparent, trustworthy institutions."

NAOWA Upholds Legacy for Better Learning Rebecca Ejifoma National President of the Nigerian Army Officers' Wives Association (NAOWA), Salamatu Faruk-Yahaya, Thursday, laid the foundation for constructions of classrooms, laboratories and a hall for better learning experience at Model Nursery and Primary School Nigerian Army Cantonment Ojo Lagos.

The structures - which comprise one block of six classrooms, I.C.T Laboratory and a 500-seater assembly hall - aims to improve the already existing structures in the school.

Speaking at the occasion, Faruk-Yahaya said once completed, the projects would provide additional classrooms to accommodate more pupils.

In her remarks, she outlined that the buildings would also create new learning opportunities in areas of information and communication technology, provide a conducive hall for assembly and other school activities as well as employment opportunities.

She emphasised: "This project was conceived out of my vision of 'Sustaining Legacies and Upholding the Tenets of Unity and Service'.

"Besides being the commencement of one

National President NAOWA, Mrs. Salamatu Faruk-Yahaya (middle); GOC 81 Division Nigerian Army, Major-General Lawrence Fejokwu flanked by other military personnel and members of NAOWA at 81 Division in Victoria Island, Lagos of her pet projects, the president said it was also a forum for her to show gratitude for the efforts of "our past leaders for establishing this school and many more."

In her quest to sustain the legacy and uphold the tenets of unity and service, Faruk-Yahaya noted her resolve on the improvement of the standard of the school that will enable it to compete with schools across the nation.

She, however, expressed that NAOWA has gone beyond humanitarian services. "With the legacies our predecessors have left behind, you must have business skills and human resource management skills".

Since coming on board, she recalled, "we have had series of leadership workshops as well as skills acquisition training. "Now we are partnering Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) to ensure that in terms of entrepreneurial skills."

She further commended the late Maryam Babangida for supporting the school and her humanity in general. "As most of us know, the NAOWA Model Nursery and Primary School Ojo is the first NAOWA School in Nigeria established

by Mrs Maryam Babangida in the year 1985 as a nursery school."

The president went ahead to appreciate the Chairperson NAOWA 81 Division Chapter, Mrs. Oghenerukevwe Fejokwu for her effort and support in ensuring the success of the occasion while thanking other members of the association.

"I want to assure you that your support to NAOWA would continuously be utilised for service to humanity," she assured the women.

7 Stowaways Arrested Onboard Merchant Vessel in Lagos Waterways Naval Officers attached to the Nigerian Navy Ship (NNS) BEECROFT, have arrested seven Nigerian stowaways, aboard a Merchant Vessel, MV CHESAPEAKE, along Lagos channel.

The ship and her crew were heading back to Europe after discharging her cargo in Lagos Port, when they were sighted by the naval men who were on patrol of the area.

The suspects, were said to have boarded the vessel through the rudder compartment of the ship, with the intention of traveling to Germany.

It was alleged that the crew was forced to take shelter in their cabins and the bridge of the ship, and called for help, when they saw the suspects.

The Commander, NNS BEECROFT, Rear Admiral Bashir Mohammed, said the suspects

were arrested on Friday, January 21, 2022 at about 1am while officers of the command were on patrol.

Mohammed said the seven stowaways were arrested onboard MV CHESAPEAKE BAY at Tincan Island jetty, Apapa.

"The arrested suspects revealed that they boarded the vessel through the rudder compartment of the vessel with the intention to travel to Germany.

This arrest puts the figure of stowaways arrested

by NNS BEECROFT in the last four months at 21.

"I want to reassure Nigerians of the Chief of Naval Staff, Vice Admiral Awwal Gambo's commitment towards sustaining her constitutional roles which includes curbing illegalities within Nigeria's Maritime domain thereby boosting national prosperity," he added.

The stowaways

42

WEDNESDAY, FEBRUARY 2, 2022 ˾ T H I S D AY

BUSINESS/MONEYGUIDE

Experts Urge Businesses to Unlock Opportunities, Drive Growth throughValue Creation Oluchi Chibuzor As many individuals and businesses are struggling to stay afloat amid the economic downturn, experts have reiterated the need for them to create new value to unlock new opportunities that would drive new growth and deliver new efficiencies.

This, according to them, is because since the outbreak of Covid-19, the global economy has witnessed viral economic shocks that have adversely affected the socio-economic activities of developed and developing economies across the world.

Speaking at a webinar that was aimed at getting organisations to a point of recovery, continuous growth, and transformation

despite the economic changes, the Group Managing Director of First Group, Professor Olusegun Olasode said businesses must outdo themselves despite current changes.

Organised by First Leadership Academy, a subsidiary of the TL First Integrated Management Group, in collaboration with the Centre for the Governance & Leadership (CGL), was titled, “From Corporate Turnaround and Recovery to Corporate Transformation and Growth.”

He urged businesses to have a clear view of where they are now and where they are going to continuously stay ahead, while leaders must constantly be open to allowing innovation banks and opportunities to flow

in their organisation.

He said, “In this case, many business leaders and corporate strategists are focused on creating strategies that will help them regain their previous positions prior to the pandemic while losing sight of the opportunities emerging in the recovery to rethink and reinvent their businesses.

“By looking out for the giants in their industry or space, understanding their competencies as an organisation, and focusing on the future while being aware of the daily details that affect the organisation.”

He maintained that many organisations did not know how weak they were till the COVID outbreak as some are yet to recover due to a lack of constant preparation.

Stanbic IBTC Asset Management Promises Better Returns to Customers Nume Ekeghe In a bid to develop the Nigerian capital market and enhance the economy, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings Plc, is set to advance customer assets in 2022 with its bouquet of investment solutions.

To ensure that clients have easy access to these solutions, the company’s digital channels have been further enhanced to ensure that clients can set up new investment accounts and top up their investment accounts

with ease.

Speaking on the organisation’s plan for the year, Chief Executive, Stanbic IBTC Asset Management Oladele Sotubo said: “In 2022, our utmost priority is to champion reform processes targeted at benchmarking the Nigerian capital market to global standards in all areas of operations and market practice. We are ready to improve the assets of all our clients by providing them with even more diversified investment options backed by quality service delivery.”

Sotubo further added that the

organisation boasts experienced professionals dedicated to guiding clients in the areas of efficient asset management and veritable investment plans, amongst others.

“At Stanbic IBTC Asset Management, investors are advised on investment options to maximise opportunities and minimise risk. Our array of products offer returns on funds invested, which help our clients grow their net worth wealth over time. Our goal is to help facilitate the growth of all our clients’ assets,” he added.

Importers Raise Alarm over Private Jetties Operating Illegally as Container Terminals The Nigerian Importers Integrity Association (NIIA) has called on the Nigerian Ports Authority (NPA) and other relevant agencies including the Nigeria Customs Service, National Inland Waterways Authority (NIWA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) to halt the activities of unregulated private jetties and oil service centres that have converted their facilities to container terminals.

The President of the association, Godwin Onyekazi, said some private jetties operating on the Kirikiri channel and oil service facilities now engage in handling containers. He said, “Hundreds of empty containers are loaded from unlicensed jetties on the Kirikiri channel onto big barges which

then discharge these containers in neighboring countries. It is not clear who licensed these barge operators and the jetties, if these barges and jetties are registered with all relevant authorities and finally if they are paying the statutory dues to NPA and all other governmental agencies”.

He said while waiting for the authorities to address these concerns, it is clear that the operators are in breach of existing regulations.

“Only port operators, concessioned by the Federal Government through NPA can engage in container handling operations.

Loading of empties from any other facility is illegal and should be investigated.

“The jetties in question are now illegally operating as container terminals. Empty containers are

loaded from sub-standard jetty in Kirikiri on barges and sail straight out of Nigeria to the ports of neighboring countries, especially to Cotonou and Lome ports.

“This trend is dangerous, as it poses serious economic and security implications for Nigeria.

Who licensed the jetties as container terminals? Who is monitoring their activities? Nigeria is so volatile now that we cannot afford this sort of lapses in our port operation.

“Unscrupulous persons try to beat the various economic and security checks put in place at the main ports where all the security agencies are present. Can you then imagine what will be happening in jetties that do not have strong regulatory and security mechanisms? This not to talk of the safety aspect, which is totally neglected,” he said.

Bayelsa Partners Sterling Bank, Zipline, Others to Expand Medical Access Nume Ekeghe Bayelsa State Government has partnered with Sterling Bank Plc, Zipline, a global leader in instant logistics, Drugstoc and Health Spaces to implement a transformation agenda in the state’s healthcare system under a Health Supply Chain Consortium.

In a statement made available by sterling bank, the memorandum of understanding (MoU), entails that the Health Supply Chain Consortium will invest in the transformation of Bayelsa State healthcare supply chain by procuring all required pharmaceutical supplies, developing best-in-class warehousing infrastructure,

provide comprehensive last mile logistic solutions and ensure revenue optimisation for the state.

Speaking at the signing of the MoU in Yenogoa, the Bayelsa State capital today, Governor Duoye Diri said: “We remain well committed to delivering an aggressive agenda of building a dependable health delivery system in Bayelsa, part of which has given birth to this partnership.

“We envisage that this partnership will remain one of the most significant ways of removing the access barriers that mitigates easy delivery of medical commodities to our health facilities,” adding that, “Even distribution of ondemand medical commodities to remote and hard-to-reach areas

do not only safe lives but also become a significant way of managing waste that happens as a result of expiry of medicines.”

By this agreement, Zipline will establish a distribution hub in Bayelsa State for the introduction, operation and maintenance of a just-in-time instant logistics solution to ensure that essential drugs, blood and a selection of other life-saving medical supplies are available to the state health facilities in Bayelsa State.

When completed, the service will operate 24 hours a day, seven days a week, day or night, from the distribution centre, which will be equipped with Zipline’s proprietary fleet of drones.

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).

43

WEDNESDAY, FEBRUARY 2, 2022 ˾ T H I S D AY

MARKET NEWS

MTN, Seplat, 34 Others Lift Stock Market by 263bn Kayode Tokede The stock market of the Nigerian Exchange Limited (NGX) yesterday extended its positive outing into February with a gain of N263 billion.

The market was lifted by gains recorded by Seplat Energy Plc, Presco Plc, MTN Nigeria Communications (MTNN) Plc, Conoil Plc and 34 other stocks on the bourse.

The NGX All-Share Index

(ASI) increased by 486.54 basis points or 1.04 per cent to close at 47,111.21 basis points, while the overall market capitalisation size gained N263 billion to close at N25.387 trillion.

Sector performances were broadly positive yesterday with the Oil and Gas gaining 5.43 per cent, Banking index added 2.15 per cent, Industrial index rose by 0.38 per cent and Consumer Goods index inched up by 0.19 per cent.

P R I C E S MAIN BOARD

F O R DEALS

As measured by market breadth, market sentiment was positive as 36 stocks gained relative to 21 losers.

SEPLAT Energy recorded the highest price gain of 10 per cent to close at N869.00, per share. Conoil followed with a gain 9.79 per cent to close at N24.10, while Academy Press rose by 9.57 per cent to close at N1.03, per share.

R. T. Briscoe went up by 9.09 per cent to close at 24

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

kobo, while Presco appreciated by 8.75 per cent to close at N105.00, per share.

On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.50 per cent to close at N1.62, per share. Eterna followed with a decline of 9.17 per cent to close at N5.45, while NCR shed 9.09 per cent to close at N3.00, per share.

Japaul Gold and Ventures lost 7.50 per cent to close

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

at 37 kobo, while Ecobank Transnational Incorporated (ETI) shed 7.20 per cent to close at N11.60, per share.

However, the total volume traded decreased by 21.63 per cent to 341.516 million units, valued at N3.692 billion, and exchanged in 6,417 deals.

Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 32.110 million shares valued at

O F

0 1

N37.462 million. Fidelity Bank followed with 25.155 million shares worth N71.503 million, while Access Bank traded 23.463 million shares valued at N238.277 million.

Guaranty Trust Holding Company (GTCO) traded 21.119 million shares valued at N587.324 million, while Nigerian Exchange Group (NGXGroup) transacted 20.512 million shares worth N502.540 million.

/ 0 2 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

44

WEDNESDAY, ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

02 February 2022

dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž 'ĂŝŶƐ ϭ͘Ϯй dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ƌŽƐĞ ϭ͘Ϯй ƚŽ ƉƌŝŶƚ Ăƚ

THISDAY AFRINVEST 40 INDEX

Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ ϭ͕ϵϬϴ͘Ϭϱ ƉŽŝŶƚƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ďƵLJ ƉƌĞƐƐƵƌĞ ŽŶ t W K ;нϮ͘ϱйͿ͕ ;Ͳϭ͘ϯйͿ͕ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ ĂŶĚ dŚĞƐĞ ƐƚŽĐŬƐ ;нϱ͘ϬйͿ͘ ĐƵŵƵůĂͲ DdEE 'd K ;нϰ͘ϭйͿ͕ E/d,

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘

dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϮϬ͘ϲй ŽĨ ƚŚĞ

ŝŶĚĞdž͘

Current Price

Ticker

^/ ƵƉ ϭϭďƉƐ ĂƐ E' D 'ĂŝŶƐ ϯ͘ϯй

Custodian and Allied Insurance

^ŚĂƌĞ ŝŶĚĞdž ƌŽƐĞ ďLJ ŵĞŶƚƵŵ͕ ƌŝƐŝŶŐ ƚŽ ƚŚĞ ŚŝŐŚĞƐƚ ůĞǀĞů ŝŶ ŽǀĞƌ Ă ĚĞĐĂĚĞ͕ ϭϭďƉƐ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ

ĂƐ ƚŚĞ E'yͲ ^/ ĂĚǀĂŶĐĞĚ ϭ͘Ϭй ƚŽ ϰϳ͕ϭϭϭ͘Ϯϭ ƉŽŝŶƚƐ

ROA

P/E

1.18%

2.9%

90.8%

15.0%

3.5%

0.0%

38.2%

33.1%

33.1%

14.7%

5.2%

202.50

2.5%

7.9%

2.8%

2.8%

134.7%

14.1%

13.8x

21.3x

70.75

0.0%

6.7%

5.5%

5.5%

19.1%

11.2%

34.0x

6.4x

28.00

4.1%

6.6%

7.7%

7.7%

24.8%

3.9%

4.2x

5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC 8 FBN Holdings Plc

5.6x

Divindend Earnings Yield Yield

P/BV

1,271.00

3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC

ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ zĞƐƚĞƌĚĂLJ͕ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĞdžƚĞŶĚĞĚ ŝƚƐ ďƵůůŝƐŚ ŵŽͲ

ROE

1908.05

1 Airtel Africa PLC 2 MTN Nigeria Communications PLC

WƌĞǀŝŽƵƐ ĚĂLJ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ >ŽĐĂů ŽƵƌƐĞ džƚĞŶĚƐ WŽƐŝƟǀĞ WĞƌĨŽƌŵĂŶĐĞ͘​͘​͘ ^/ ƵƉ ;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ ϭ͘Ϭй

Price Previous Price Current Change Price Change Weighting Index to Change YTD Date

0.8x

5.2%

16.0%

1.4% 5.2%

7.2%

1.1x

10.9%

23.6%

2.9%

27.35

5.0%

6.1%

8.7%

8.7%

20.9%

2.8%

3.7x

0.7x

11.0%

27.0%

260.60

0.0%

4.2%

1.4%

1.4%

40.4%

16.7%

13.0x

5.0x

6.0%

7.7%

1,435.00

0.0%

3.0%

-7.8%

-7.8%

106.8%

15.6%

27.8x

32.8x

4.2%

3.6%

11.35

-1.3%

3.1%

-0.4%

-0.4%

8.4%

0.8%

6.7x

0.5x

4.0%

14.9%

27.00

5.5%

3.5%

12.7%

12.7%

11.6%

8.4%

10.1x

1.1x

3.8%

9.9%

10.35

4.5%

^ W> d

9 Lafarge Africa PLC 10 Access Bank PLC 11 United Bank for Africa PLC

2.8%

11.3%

11.3%

17.0%

1.4%

2.9x

0.5x

8.5%

34.4%

8.80

2.3%

2.2%

9.3%

9.3%

19.5%

1.8%

2.2x

0.4x

6.4%

45.2%

35.75

0.0%

;нϭϬ͘ϬйͿ͕ E/d, ;нϱ͘ϬйͿ͕ ĂŶĚ DdEE ;нϮ͘ϱйͿ͘ dŚƵƐ͕

12 Stanbic IBTC Holdings PLC 13 Nigerian Breweries PLC

1.5%

-0.7%

-0.7%

15.1%

2.1%

8.0x

1.3x

11.4%

12.4%

48.45

0.0%

1.4%

-3.1%

-3.1%

5.3%

1.9%

44.7x

2.3x

2.2%

2.2%

zd ƌĞƚƵƌŶ ŝŵƉƌŽǀĞĚ ƚŽ ϭϬ͘ϯй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝͲ

14 SEPLAT Energy PLC 15 Ecobank Transnational Inc

869.00

10.0%

2.0%

33.7%

33.7%

3.4%

1.9%

19.9x

0.7x

4.7%

5.0%

11.60

-7.2%

1.7%

33.3%

33.3%

ƐĂƟŽŶ ŝŶĐƌĞĂƐĞĚ േϮϲϮ͘ϮďŶ ƚŽ േϮϱ͘ϰƚŶ͘ sŽůƵŵĞ ƚƌĂĚĞĚ ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ

16 International Breweries PLC 17 Okomu Oil Palm PLC

5.80

1.8%

1.2%

17.2%

17.2%

-10.3%

-3.9%

142.00

0.0%

1.0%

0.0%

0.0%

36.5%

23.3%

ĚĞĐůŝŶĞĚ Ϯϭ͘ϲй ƚŽ ;ϳ͘ϯŵ ϯϰϭ͘ϱŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕

18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC

28.85

1.1%

0.9%

1.8%

1.8%

15.9%

4.5%

4.4x

0.7x

5.7%

22.6%

2.85

1.4%

0.6%

11.8%

11.8%

13.3%

1.3%

2.2x

0.3x

7.7%

46.2%

ƌŽƐĞ ϳ͘ϯй ƚŽ േϯ͘ϳďŶ͘ E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘

20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC

ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ

ƐƉƵƌƌĞĚ

ďLJ

ŐĂŝŶƐ

ŝŶ

േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ

ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ

22 FCMB Group Plc 23 United Capital PLC

ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ƵůůŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ

24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria

ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ĐƌŽƐƐ ŽƵƌ ĐŽǀĞƌĂŐĞ ƐĞĐƚŽƌƐ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ ďƵůůŝƐŚ

26 NEM Insurance PLC 27 Presco PLC 28 NASCON Allied Industries PLC

2.7x

9.6x

37.5% 1.1x

-9.8%

3.2x

10.4%

2.44

3.8%

0.6%

5.2%

5.2%

9.3%

3.0%

7.5x

0.7x

9.0%

13.3%

17.50

0.0%

0.5%

0.6%

0.6%

15.3%

6.3%

11.5x

1.7x

8.6%

8.7%

3.13

0.0%

0.4%

4.7%

4.7%

10.3%

1.1%

0.3x

4.8%

11.15

1.4%

0.4%

12.6%

12.6%

2.5x

6.3%

48.55

0.0%

0.4%

24.5%

24.5%

13.3%

6.0%

10.2x

1.3x

0.9%

9.8%

1.17

2.6%

0.4%

21.9%

21.9%

11.1%

2.3%

6.2x

0.7x

0.9%

16.1%

35.6%

18.5%

5.8x

17.4%

3.69

0.0%

0.2%

-18.0%

-18.0%

105.00

8.8%

0.3%

19.6%

19.6%

13.10

0.9x

4.9%

2.5x

1.0% 3.0%

8.1%

1.7%

20.4%

0.0%

0.3%

-0.8%

-0.8%

21.3%

6.9%

12.3x

2.5x

29 AIICO Insurance PLC 30 TotalEnergies Marketing Nigeri

0.74

-1.3%

0.3%

5.7%

5.7%

7.2%

1.1%

411.1x

0.8x

241.00

0.0%

0.2%

8.6%

8.6%

48.0%

9.5%

4.9x

2.0x

Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ

31 Custodian and Allied Insurance 32 Vitafoam Nigeria PLC

8.00

2.6%

0.2%

1.3%

1.3%

19.5%

5.5%

4.7x

0.9x

6.9%

21.3%

24.40

0.0%

0.2%

8.4%

8.4%

38.7%

16.0%

6.3x

2.2x

6.3%

16.0%

ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ

33 Unilever Nigeria PLC 34 Julius Berger Nigeria PLC

14.00

0.0%

0.2%

-3.4%

-3.4%

7.8%

4.9%

31.1x

1.2x

26.00

0.8%

0.2%

16.3%

16.3%

18.9%

2.4%

3.9x

0.8x

1.5%

25.5%

35 Union Bank of Nigeria PLC 36 Oando PLC

5.90

-1.7%

dƌĂŝůŝŶŐ͕ ƚŚĞ &ZͲ/ d ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ŐĂŝŶĞĚ

0.1%

0.0%

0.0%

7.1%

0.8%

6.7x

0.7x

4.2%

15.0%

4.70

-0.6%

0.0%

6.3%

6.3%

14.5%

2.6%

2.0x

0.3x

0.87

-1.1%

ϭ͘Ϯй ĂŶĚ Ϭ͘ϴй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ďƵLJŝŶŐ ŝŶͲ

37 Wema Bank PLC 38 Sterling Bank PLC

0.1%

20.8%

20.8%

14.1%

0.8%

3.8x

0.5x

4.6%

26.4%

3.8x

0.4x

2.9%

ƚĞƌĞƐƚ ŝŶ DdEE ;нϮ͘ϱйͿ͕ KhZds/>> ;нϭ͘ϴйͿ͕ h^dKͲ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘

39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc

ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ĂƐ Ăůů ŝŶĚŝĐĞƐ ĂĚǀĂŶĐĞĚ͘ dŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ŝŶŐ ŝŶĚŝĐĞƐ ůĞĚ ǁŝƚŚ Ă ŐĂŝŶ ŽĨ ϱ͘ϰй ĂŶĚ Ϯ͘ϭй ƌĞƐƉĞĐͲ

ƟǀĞůLJ ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂƟŽŶ ŝŶ ^ W> d ;нϭϬ͘ϬйͿ͕ KEK/> ;нϵ͘ϴйͿ͕ E/d, ;нϱ͘ϬйͿ͕ ĂŶĚ ^^ ;нϰ͘ϲйͿ͘ ϵ͘ϭйͿ͕

hE/> s Z

;Ͳϯ͘ϱйͿ͕

>/E< ^^hZ

;Ͳϲ͘ϰйͿ͕

ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ

ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ

/ E ;нϮ͘ϲйͿ͕ ĂŶĚ D E^ Z ;нϯ͘ϴйͿ͘ >ŝŬĞǁŝƐĞ͕ ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ƚŚĞ ĂŶĚ ŽŶƐƵŵĞƌ 'ŽŽĚƐ ŝŶĚŝĐĞƐ ŚŝŶŐĞĚ Ğƌ͕ /ŶĚƵƐƚƌŝĂů ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ŚŝŐŚĞƌ Ϭ͘ϰй ĂŶĚ Ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ďĂƌŐĂŝŶ

ŚƵŶƟŶŐ ŝŶ t W K ;нϱ͘ϱйͿ͕ /Ed Z t ;нϭ͘ϴйͿ͕ ĂŶĚ

/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ &>KhZD/>> ;нϭ͘ϭйͿ͘

;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž

KƵƚůŽŽŬ

Ticker

ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ

SEPLAT

ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘

10.1%

0.9%

0.0%

-41.3%

-9.2%

5.38

0.0%

0.0%

0.0%

0.0%

24.10

49.4%

2.3x 0.9x

Top 10 Trades by Volume Volum e

Price Chg %

TRANSCORP

32.1

2.6%

9.8%

FIDELITYBK

25.2

1.4%

23.5

4.5% 4.1%

Price Chg % 10.0%

Ticker

1.03

9.6%

RTBRISCOE

0.24

9.1%

GTCO

21.1

8.8%

NGXGROUP

20.5

5.4%

16.8

4.3% 0.0%

105.00

FTNCOCOA

0.38

8.6%

SOVRENINS

FIDSON

8.29

7.7%

CHAMS

16.2

7.5%

ZENITHBANK

12.7

5.0%

12.4

-1.1%

12.4

-1.3%

2.58

WAPCO

27.00

5.5%

WEMABANK

NGXGROUP

24.50

5.4%

FBNH

Top 10 Trades by Value

Top 10 Losers Ticker CAVERTON

Price 1.62

Price Chg %

Ticker

Value

-9.5%

GTCO

587.3

4.1%

NGXGROUP

502.5

5.4%

ZENITHBANK

340.9

5.0%

SEPLAT

339.7

10.0%

MTNN

292.7

2.5%

ACCESS

238.3

4.5%

ETERNA

5.45

-9.2%

NCR

3.00

-9.1%

JAPAULGOLD

0.37

-7.5%

11.60

-7.2%

UPDCREIT

3.60

-6.5%

GLAXOSMITH

6.05

-5.5%

ETI

LASACO

1.00

-2.9%

CUTIX

2.34

-2.9%

1.85

26.0% -20.3%

ACADEMY

NEIMETH

Afrinvest West Africa Limited

13.2%

0.0%

3.2%

ACCESS

< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ

ƉĂƚĞ ŵŝůĚ ƉƌŽĮƚͲƚĂŬŝŶŐ ƚŽ ĚĞŶƚ ƚŚĞ ǁĞĞŬΖƐ ďƵůůŝƐŚ ƌƵŶ͘ ^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ

13.2%

0.1%

869.00

CONOIL

ƐƚƌĞŶŐƚŚĞŶĞĚ ƚŽ Ϭ͘ϯdž ĨƌŽŵ Ϭ͘Ϯdž ĂƐ ϯϲ ƐƚŽĐŬƐ ŐĂŝŶĞĚ͕ Ϯϭ ůŽƐƚ ǁŚŝůĞ ϭϬϵ ǁĞƌĞ ƵŶĐŚĂŶŐĞĚ͘ dŽĚĂLJ͕ ǁĞ ĂŶƟĐŝͲ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ

0.1%

0.0%

Price

UPL

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕

-1.2%

Top 10 Gainers

PRESCO

/ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ

1.71 62.50

0.2%

-2.6%

Price Chg %

WAPCO

208.9

5.5%

PRESCO

201.4

8.8%

FBNH

142.6

-1.3%

95.2

2.3%

UBA

Brokerage

Asset Management

Investment Research

Adedoyin Allen | aallen@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Abiodun Keripe | AKeripe@afrinvest.com

Taiwo Ogundipe | togundipe@afrinvest.com

Christopher Omoh | comoh@afrinvest.com

Damilare Asimiyu| dasimiyu@afrinvest.com

45

WEDNESDAY, FEBRUARY 2, 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 31Jan-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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A Afrinvest Dollar Fund N/A N/A N/A AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 9.78% AIICO Balanced Fund 3.46 3.49 -2.77% 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 7.71% Anchoria Equity Fund 140.90 142.67 2.34% Anchoria Fixed Income Fund 1.18 1.18 2.62% 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 20.75 21.38 2.30% ARM Discovery Balanced Fund 468.27 482.39 3.79% ARM Ethical Fund 39.22 40.41 0.68% ARM Eurobond Fund ($) 1.08 1.08 -0.15% ARM Fixed Income Fund 1.02 1.02 0.46% ARM Money Market Fund 1.00 1.00 8.50% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel: 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 108.52 108.52 6.70% AVA GAM Fixed Income Naira Fund 1,077.23 1,077.23 7.72% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.07 2.07 9.98% Capital Express Balanced Fund (Formerly: Union Trustees Mixed Fund) 2.22 2.27 27.43% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com ; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund N/A N/A N/A CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 9.47% Paramount Equity Fund 17.98 18.31 6.86% Women's Investment Fund 142.41 144.11 2.44% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 9.34% Cordros Milestone Fund 136.65 137.53 3.37% 110.91 110.91 0.43% Cordros Dollar Fund ($) 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 N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A 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 -0.62% Emerging Africa Balanced Diversity Fund 1.02 1.02 -9.00% Emerging Africa Eurobond Fund 104.94 104.94 0.31% 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 1,408.19 FBN Bond Fund 1,408.19 11.09% 179.43 FBN Balanced Fund 180.70 2.38% 116.57 FBN Halal Fund 116.57 8.86% 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

122.60 151.64

122.60 3.85% 153.65 0.89% fcmbamhelpdesk@fcmb.com

Bid Price N/A N/A N/A N/A

Offer Price Yield / T-Rtn N/A N/A N/A N/A N/A N/A N/A N/A 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 7.34% Vantage Balanced Fund 2.89 2.95 1.23% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 142.33 142.39 -8.53% Vantage Equity Income Fund (VEIF) - June Year End 1.28 1.32 1.80% Vantage Dollar Fund (VDF) - June Year End 1.07 1.07 4.03% 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 N/A N/A N/A Lotus Halal Fixed Income Fund N/A N/A N/A 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 12.21 12.32 3.66% 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) 100.66 100.67 8.46% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.83% 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 N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A 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 3,474.02 3,511.00 0.88% Stanbic IBTC Bond Fund 236.38 236.38 0.28% Stanbic IBTC Ethical Fund 1.30 1.32 0.77% Stanbic IBTC Guaranteed Investment Fund 314.56 314.56 0.39% Stanbic IBTC Iman Fund 242.33 245.92 0.09% Stanbic IBTC Money Market Fund 100.00 100.00 7.35% Stanbic IBTC Nigerian Equity Fund 11,199.18 11,354.70 0.80% Stanbic IBTC Dollar Fund (USD) 1.30 1.30 0.35% Stanbic IBTC Shariah Fixed Income Fund 117.27 117.27 0.26% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 107.17 107.17 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 0.95 0.97 1.94% United Capital Balanced Fund 1.40 1.42 2.87% United Capital Wealth for Women Fund 1.12 1.14 2.87% United Capital Sukuk Fund 1.08 1.08 0.63% United Capital Fixed Income Fund 1.97 1.97 0.58% United Capital Eurobond Fund 122.89 122.89 0.45% United Capital Money Market Fund 1.00 1.00 8.43% 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 13.32 13.44 0.97% Zenith ESG Impact Fund 14.98 15.14 2.53% Zenith Income Fund 22.20 22.20 1.00% 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

13.71 133.10 105.07 18.78 21.11

13.81 136.43 107.38 18.88 22.21

-1.80% 1.13% 1.40% 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

4.36 5.70 18.21 1.00 20.66 160.53

4.46 5.80 18.41 1.00 20.86 162.53

15.84% 11.80% 5.95% 0.00% 6.53% 1.74%

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.

46

IMAGES

T H I S D AY ˾ TUESDAYFEBRUARY 1, 2022

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Guest Speaker, Prof David Atte; Secretary to Kogi State Government (SSG), Dr. Ayoade Folashade Arike; Aare Onakakanfo of Yoruba land, Iba Gani Adams; and Obaro of Kabba land in Kogi State, Oba Solomon Oladele Owoniyi, at the eighth World Congress held at Kabba, Kogi State...recently

L-R: Comptroller, Nigeria Immigration Service (NIS), Lagos State Command, B. A. Aliyu, handing over to the new state Comptroller, Mani Dahiru Bagiwa, in Lagos...recently

L-R: Community Leader, Alhaja Sauli Ajetunmobi; Akarigbo of Remoland, Oba Babatunde Adewale Ajayi; and former Caretaker Chairperson of Itire/Ikate LCDA, Alhaja Sameeat Olawunmi Raji, during the conferment of the chieftaincy title of fifth Ogbokualasa Offin of Sagamu to Alhaja Raji by Oba Ajayi in Sagamu, Ogun State...recently

L-R: Winner of Glo Joy Unlimited Promo, Egbede Japhet Onogwu; Regional Sales Manager, Victoria Island Gloworld, Olumide Oguntimehin; and Deputy Majority Leader, Lagos State House of Assembly, Hon. Eletu Suleiman Owolabi, during the presentation of the final prize to the winners of the promo at the Gloworld Office, Lagos...recently PHOTO: ABIODUN AJALA

L-R: Vice Principal, Eko Akete Senior Grammar School, Lagos, Mr. Sobanke Rafiu; student of the school, Miss.

Rahman Pelumi; Chief Executive Officer, Lagos State Aids Control Agency (LSACA), Dr. Monsurat Adeleke; Peers Educator on HIV/AIDS, Miss. Rahimi Mistura; and another student of the school, Master Yusuf Qudus, at the flag-off of peer education session for adolescent in the state held at the school in Lagos...recently PHOTO: ETOP UKUTT

L-R: Group Head, Retail Sales West of AXA Mansard, Olufemi Abolude; Chief Customer and Marketing Officer, Jumoke Odunlami; Group Head, Retail Division, Adeola Adebanjo; and Area Sales Manager, Retail Sales West II, Ayowale Sanusi, during the grand opening of the firm’s new office in Ibadan, Oyo State…recently

L-R: President, African Insurance Organisation, Mr. Tope Smart, receiving a gift from the President of Zanzibar, Dr. Hussein Ali Mwinyi, at the African Insurance Retreat organised by the Tanzania Insurance Market, with them is the Special Assistant to the President of Zanzibar, Mr. Baraza Mapinduzi, held in Zanzibar...recently

WEDNESDAY FEBRUARY 2, 2022 • T H I S D AY

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NEWS

LET THERE BE RICE...

L-R: Chairman, Garewa Rice Mill, Alahji Isa Garewa; Governor, Central Bank of Nigeria, Mr. Godwin Emefiele; Kano State Governor, Dr. Abdullahi Ganduje; Kebbi State Governor, Senator Abubakar Bagudu; Jigawa State Governor, Alhai Abubakar Badaru, at the unveiling ceremony of the Garewa Rice Mill in Kano…yesterday

INEC: Proliferation of Small Arms, Light Weapons, Hard Drugs, Insurgents, Threat to 2023 Elections Chuks Okocha in Abuja Ahead of next year’s general election, the Independent National Electoral Commission (INEC) has highlighted areas of concern in the conduct of free and fair polls in the country. INEC stated this at a meeting with members of the Inter Agency Consultative Committee

on Election Security (ICCES).

In his address at the meeting held yesterday in Abuja, Chairman of INEC, Professor Mahmood Yakubu, informed the forum that the commission had also been evaluating the risk to the election using the Election Violence Mitigation and Advocacy Tool (EVMAT). Yakubu said the aim

Buni-led Committee at Old Game of Political Brinkmanship, Says Kwara APC Faction Hammed Shittu in Ilorin A faction of All Progressives Congress(APC) in Kwara state loyal to the Information and Culture Minister, Alhaji Lai Mohammed, yesterday said the Chairman, National Caretaker and Extraordinary Planning Convention Committee of the party led by the Yobe State Governor, Mallam Mai Mala Buni was at the old game of political 'brinkmanship'.

The faction of the party however said, "We are still at a loss as to how the chairman came to the conclusion that all the protracted crisis rocking the party in the state has been resolved," adding that, "the committee might be true to the crisis in Gombe, Ogun, Osun and other states as claimed, but certainly not that of Kwara State and we need to put the record straight to guide the public".

Speaking at a media briefing in Ilorin, in reaction to recent claim that the Buni-led committee had resolved crisis in the state, the spokesman of the group who is also the state Publicity Secretary of the faction, Mr. Ibrahim Sharafadeen said, "the claim therefore

by Mai Mala Buni-led committee that the protracted crisis in the Kwara APC was resolved is a lie of pit of hell which could be likened to an offensive odour of fart from a lift."

He said, "once again, the APC as the nation's ruling party has found itself finally in the throes of major political trauma.

"It is becoming proverbial that each time the party manages to escape from the jaws of a terrible mishap, it often find itself firmly in the claws of an even major catastrophic and terrifying accident and yet a leopard which cannot change its spots, the national leadership

of the party under Governor Mai Mala Buni are at their old game of political brinkmanship."

The party chieftain added that, "Ordinarily, we would not have reacted to the statement credited to Governor Buni on the issue of reconciliation in Kwara state but as a responsible members of the party in the state, we feel that it is only proper that we put the matter into proper perspective for the interest of our teeming members, supporters and the discerning public.

"It is sad and rather unfortunate that it is only the chairman of the party’s caretaker and extraordinary conversation planning committee that can lay claim to any purported or false reconciliation.

"We feel the claim of false reconciliation by Governor Buni as an ingenious lie which can only result in the continuing ruination of the APC and provide exit clause for those anxious to leave. It is also proper to conclude that Governor Buni must either be under the pressure of words resulting from not knowing what to say or that he and members of his committee have been wrongly briefed by Senator Abdullahi Adamu national reconciliation committee."

He added: "We belief that if the chairman can make such false reconciliation of Kwara APC without going through the hurriedly packaged report, one can only imagine how many of such lies that would be contained in the report."

Sharafadeen explained further that, "For the avoidance of doubt, what truly transpired was that, when the Senator Adamu's panel was set up, our party was notified and advised to get prepared to appear before it when it arrived Ilorin, Kwara state capital.

was to identify early warning signs that could assist the security agencies and other stakeholders in devising and deploying appropriate mitigation strategies.

According to the INEC chairman, "Among other areas of concern, the commission focused on threats specific to geographical locations, proliferation of small arms and light weapons, the issue of hard drugs, presence of insurgents and armed groups, intra and inter-party conflicts, and incidents of hate speech."

Yakubu announced that in the next few days, the commission would intensify its engagement with stakeholders, particularly party leaders and candidates, traditional and religious leaders, transport providers, civil society organisations, and the media.

Speaking on the forthcoming Federal Capital Territory Area Councils election, the INEC

chairman said, "We will work with all stakeholders to ensure that the forthcoming election is peaceful and our processes credible. That is why this meeting is crucial."

He added, "Securing the environment is the foundation for a peaceful, well-organised and credible election. This was clearly demonstrated in the peaceful conduct of the recent Anambra State governorship election. Let us make the FCT Area Council election another shining example of a peaceful election."

In addition to the FCT Area Council election, the INEC chairman said the commission was preparing for six bye-elections on February 26, followed by the Ekiti and Osun governorship elections on June 18 and July 16, respectively.

He explained that in the case of the Ekiti State governorship election, the period earmarked in the timetable and schedule

of activities for party primaries ended on January 29.

According to him, "All 18 political parties served notices for their party primaries to elect their candidates for the election and invited the commission to monitor them. One party adopted the direct method for electing its candidate while 16 parties opted for the indirect method."

However, he said from its field report, the Boot Party (BP) did not hold its primary election at any venue known to and monitored by the commission.

Consequently, he said, “We do not expect the party to nominate a candidate for the Ekiti State governorship election."

Yakubu warned political parties to strictly adhere to the commission's timelines for all activities, including the conduct of primaries and nomination of candidates. He reiterated that

these timelines were firm and fixed, adding, "No deviation or violation will be allowed."

Meanwhile, INEC said fresh registration in the on-going nationwide Continuous Voter Registration (CVR) had reached 5,353,744. It also disclosed that 2,805,089 registrants had completed online and physical registration.

A breakdown of this showed that 1,148,631 persons did online and 1,656,458 did physical registration.

INEC added that gender distribution of the registrants, who had completed the registration process, revealed that 1,414,675 were male and 1,390,414 were female, while 25,523 of the registrants were Persons with Disabilities (PWDs).

INEC also received 8,919,606 applications for voter transfer, requests for replacement of permanent voter’s cards, as well as update of voter information record.

Falana Writes West African Leaders, Seeks Preventive Measures Against Coups Emmanuel Addeh in Abuja A human rights activist, Mr. Femi Falana yesterday wrote the Chairman, Economic Community of West African States (ECOWAS), President Nana Addo Akufo-Addo, asking the regional organisation to take preventive measures to stop coups and unconstitutional change of governments in the sub-region.

He urged West African leaders to apply the ECOWAS treaties and protocols on democracy and human rights with a view to promoting the rule of law, ending impunity of political leaders and ensuring full respect for citizens’ human and socio-economic rights.

Following the latest military coup in Burkina Faso and coming on the heels of at least five previous coups from the member states, the former West Africa Bar Association (WABA) president said ECOWAS should be proactive rather than being always reactive.

“Unfortunately, it has become routine for ECOWAS leaders to act after-the-fact rather than taking preventive measures to enforce respect for human rights, the rule of law, and end impunity of political leaders who frequently seek to change their national constitutions for personal gain.

“I am concerned that for many years, official impunity, abuse of human rights, grand and systemic corruption, flagrant disregard for the rule of law and grinding poverty arising from economic mismanagement have been pervasive throughout the sub-region, and indeed the African continent.

“Other legal and constitutional infractions include unconstitutional revisions of national constitutions to keep political leaders in power, and manipulating electoral and other laws to disqualify political opponents and enhance electoral success for the incumbent,” the senior lawyer said.

He noted that the persistent failure of the leadership of ECOWAS to take a preventive and active role in dealing with these threats to democracy, human rights and the rule of law had continued to contribute significantly to recurring coups and unconstitutional change of governments in many countries.

Falana posited that unlawfully amending national constitutions to remain office is acting above the law, and contrary to ECOWAS treaties and protocols, and other international standards, as well as seriously undermining member states’ democratic systems.

According to him, it was

unsurprising that many of the political leaders continued to act with impunity and do not fear condemnation and sanctions from the ECOWAS. Falana noted that it was disturbing that poverty was on the ascendancy in spite of the abundant resources of the member states of the ECOWAS. To address the economic crisis, the senior lawyer stressed that every member state should end the foreign domination of their economy in accordance with Article 21(5) of the African Charter on Human and Peoples Rights.

He explained that the charter imposes a duty on all governments in Africa to, "eliminate all forms of foreign exploitation particularly that practiced by international monopolies so as to enable their peoples to fully benefit from the advantages derived from their national resources."

“Despite the treaties and protocols on democracy and human rights, the ECOWAS has continued to tolerate member states with significant democratic and rule of law deficits. These member states regularly conduct elections that are neither fair, credible, nor free.

“More worrisome is the fact that political opponents and activists

who oppose illegal constitutional amendment and other infractions are either jailed or killed.

“Despite the illegality and grave human rights violations in many of these member states, the ECOWAS has continued to send election observers to these countries who usually endorse questionable and seriously flawed elections under purported constitutional amendment,” he wrote.

Furthermore, he opined that the lack of political will to respect human rights, reject impunity, and obey the rule of law was exacerbated by the fact that to date only six of the 16 member states of ECOWAS had appointed ‘implementing authorities’ to enforce the decisions and judgments of the ECOWAS Court of Justice in Abuja.

He stated that the obligation of ECOWAS leadership to take preventive and effective measures to address democratic and rule of law deficits in several member states is a central part of the responsibility to protect.

Exercising the responsibility to protect, he posited, would enable member states to address these deficits, as the responsibility to protect incorporates and embraces three important elements.

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NEWS

LCCI'S COURTESY VISIT TO MARINA HOUSE...

L-R: President, Lagos Chamber of Commerce (LCCI), Dr. Michael Olawale Cole; Lagos State Governor, Mr. Babajide Sanwo-Olu and Past President of LCCI, Mrs. Nike Akande, during a courtesy visit to the Governor, at the Lagos House, Marina...yesterday

Ortom Sad over Burnt Obasanjo’s Farm, Orders Full Scale Investigation I’m glad no life was lost, says ex-president George Okoh in Makurdi and James Sowole in Abeokuta Benue State Governor, Samuel Ortom, has expressed sadness over the fire that gutted former President Olusegun Obasanjo's mango farm in Howe, Gwer Local Government Area of Benue State and immediately ordered full scale investigation “to unravel the remote and immediate cause of the fire

outbreak”.

But the former president, who was impre4sident with the way the matter has been so far handled by the state, however, said he was glad that despite the huge damage recorded, no life was lost.

Receiving the report of the incident from the Chairman of Gwer council, Mr Emmanuel Otserga, stated that, “where it is discovered that the fire was an

act of sabotage, the perpetrators must be brought to book.”

While insisting that no act of sabotage would be tolerated, because his government has a deliberate policy to encourage local and foreign investors especially, in Agriculture, the governor has also tasked security operatives in the state to do all necessary to get to the root of the matter forthwith.

"It is the height of irresponsibility

for anyone to think of setting ablaze a farm that is set to, in a very near future, boost the economic development of the area in particular and state in general. Obasanjo as a former president is a statesman and needs to be accorded his due respect anywhere in Nigeria and Benue State cannot be an exception,” he said.

He then directed the Commissioner of Police in the state to ensure

Shelve Your Presidential Bid, Clark Tells Atiku, Saraki, Tambuwal, Others Says their ambition is recipe for chaos

Emameh Gabriel in Abuja Leader of Pan Niger Delta Elders Forum (PANDEF) and former federal commissioner, Chief Edwin Clark, has called on former Vice President Atiku Abubakar, former Senate President, Bukola Saraki and the Sokoto State Governor, Aminu Tambuwal to drop their presidential bid in 2023, insisting that it was the turn of southern Nigeria to produce the next president of the country.

Clark, who extended similar plea to other aspirants in the Peoples Democratic Party (PDP) from the north, however, described their motives to contest in 2023 as not only selfish but a recipe for chaos, appealing that in the interest of maintaining the unity of the country to which they have all contributed so much to, they should jettison their desire to contest in 2023.

In another eight-page letter titled: ‘Zoning of Presidency Between the North and South is Best Antidote to the Break Up of Nigeria, and Requisite for Peace and Unity’, he warned that any thought outside zoning the presidency to the south would in be contravention of the Constitution of the PDP opposition, which he said negated existing convention.

“I wish to use this medium to advise my most respected Peoples Democratic Party (PDP) Chieftains in the persons of former Vice President, Alhaji Atiku Abubakar; former President of the Senate, Dr. Bukola Saraki; Rt. Hon. Aminu Tambuwal, Governor of Sokoto State, and other PDP aspirants from the north, that in the interest of maintaining the unity of this country to which they have contributed so much, to re-

consider their desire of wanting to contest for the Presidential election in 2023, because both by the PDP Constitution and by convention, to do otherwise, is to invite chaos, which will lead to the disintegration of our dear country,” he said.

He pointed that existing records had shown that northern Nigeria has held the nation’s number one office for more than four decades both under military and civil rule.

His argued: “It must be understood that the north has had the Presidency for about 45 years of our nation’s history as an independent country, including both civilian and military regimes as follows: 5 years and 3 months of Sir Abubakar Tafawa Balewa; 9 years of Gen. Yakubu Gowon; 6 months of Gen. Murtala Mohammed; 1 year and 8 months as Military Head of State of Gen. Muhammadu Buhari 5; 4 years and 3 months of Alhaji Shehu Shagari; 8 years of Gen. Ibrahim Babangida; 4 and half years of Gen. Sanni Abacha; 1 year of Gen. Abdulsalami Abubakar and 8 years of President Muhammadu Buhari that will end in May, 2023.

“The South-West had Chief Ernest Shonekan for a short period of 3 months as Interim President, and Chief Olusegun Obasanjo for 8 years.

If the 3 and half years of his (Chief Obasanjo’s) Military Head of State are added, then the South-West have held the nation’s number one office for about 12 years. South-South had Dr. Goodluck Ebele Jonathan as President for five years (May 2010 to May 2015). South-East had Gen. Johnson Aguiyi-Ironsi for 6 months in a military regime (January 1966July 1966).”

The octogenarian, however,

expressed disappointment over moves by Atiku and other northern presidential aspirants to contest in 2023, despite the resolution by the 17 Southern Governors Forum, South and Middle Belt Leaders Forum, groups and eminent northern leaders that power should shift to the south.

He said it was strange to see the same people, who opposed Goodluck Jonathan’s attempt to return a couple of years back in the name of zoning, now wanting to contest for the presidency under PDP. His words: “I have observed with dismay, that some of my respected friends, especially, the former Vice President Alhaji Atiku Abubakar, and the distinguished former President of

the Senate, Dr. Bukola Saraki, who opposed former President Goodluck Jonathan for contesting the Presidential elections, because they felt it was the turn of the North, are now wanting to contest for the presidency under the PDP in 2023. They are already campaigning through the length and breadth of the country, even after a northerner will be having a straight 8 years, come May, 2023.

“Is it no longer a negation of the ‘zoning agreement,’ for which former President Goodluck Jonathan was castigated? Is it no longer threatening the unity and survival of the country?” he asked, warning that ignoring calls for power shift “may even be the deciding factor for the PDP, whether to be or not to be.”

that the perpetrators were fished out immediately and brought to book.

Earlier, Atserga told the governor that over half of the mango farm covering over 139 hectares of land was razed and four suspects had been arrested, while more were being trailed.

Otserga said he suspected foul play, because “from the look of things, the fire was caused by the deliberate act of mischief makers.

The farm is well safeguarded. There is no way fire can cross over from any quarter into the farm.”

Director of the state fire service, Mr. Donald Ikyaaza, also suspected sabotage.

But Obasanjo, who described as a bad development, the burning of his 2,420 hectares of his farm, said the local and state governments, including the security agencies in the state had taken up the issue, with a view to fishing out the perpetrators and prosecution.

In a release by his Special Assistant on Media, Kehinde Akinyemi, Obasanjo, however, thanked those, who had called to identify with him on the incident, stressing that, “despite the huge loss on the farmland as a result of the inferno, there was no death recorded, and this is gladdening to note.”

Buni Meets Shekarau, Gaya, Others over Kano APC Crisis Adedayo Akinwale in Abuja

Chairman of the Caretaker/ Extraordinary Convention Planning Committee (CECPC) of the All Progressives Congress (APC) and Governor of Yobe State, Mai Mala Buni, yesterday, met with aggrieved members of the party from Kano State, ahead of the national convention of the party slated for February 26.

Director General of Press to Buni, Mr. Mamman Mohammed, in a statement, said the meeting with stakeholders in Kano was held at the Yobe Governor's Lodge, Abuja

in continuation of the reconciliation of differing interests in the state.

"The meeting was chaired by the Chairman Caretaker Committee and Yobe state Governor, Hon. Mai Mala Buni. Senators Ibrahim Shekarau and Kabiru Gaya, Hon. Alhassan Doguwa Leader House of Reps., Hon. Barau Jibrin and some representatives of the state government were in attendance," the terse statement stated.

Mohammed, however, said participants expressed satisfaction with the approach and remained optimistic that all their differences would be addressed.

APC UK Advises Party to Postpone February Convention Juliet Akoje in Abuja The United Kingdom chapter of the All Progressives Congress (APC), has advised the National Executive Council (NEC) of the party to stay action on the proposed February 26 national convention.

Instead, it advised that the party should consolidate on the successes of the Governor Mai Mala Buni-led Caretaker Extraordinary Convention Planning Committee (CECPC), and also win more grounds in reconciling aggrieved members.

APC had pinned its national convention for 26th February, 2022, after several efforts to unite various factions across state chapters.

But Dr. Philip Idaewor, Chairman of the APC in UK, in a press statement on Tuesday, wanted the NEC to shift the national convention to a later date.

"The Chapter urged APC’s National Executive Committee (NEC) to immediately postpone the National Convention from the Saturday February 26 date for pending critical issues to be addressed, especially, now that the reconciliation committee led

by Senator Abdullahi Adamu has requested for one week extension to complete its work," the statement read in part.

It said the UK chapter had earlier weighed in on the matter some months ago, where it

categorically urged the party to align with best practices in deciding the convention date, which should be scheduled with the convention to elect the party’s presidential standard bearer.

According to the statement, the proposition would ensure the highest participation of the members in the diaspora as they would not dissipate logistics for travelling to Nigeria twice for the same event.

It, therefore, called on the party’s NEC to summon courage and postpone the convention in overall interest of all stakeholders to promote unity, harmony and cohesion within the party, noting that rushing into a convention

within the space of the next three weeks would only further fracture the party.

"Reports from home (Nigeria) about how the APC has multiple factions in many of its state chapters do not project confidence that the party would have a smooth sail in the general elections due next year. The logical thing is to allow the reconciliation committee to finish its assignment as there is no gain in progressing error.

"APC stakeholders would have simply slaved for others to enjoy if the party holds the convention in February as it will merely be solidifying the rancorous situation that is present at state levels," it stated.

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NEWS

UNITED IN FAITH...

L-R: Sultan of Sokoto and President General Nigerian Supreme Council for Islamic Affairs (NSCIA), His Eminence Alhaji Muhammad Sa'ad Abubakar; Co-Chairman and President, Christian Association of Nigeria (CAN), Rev Dr Samson Ayokunle; Minister of Education, Mallam Adamu Adamu; Emir of Kano, Aminu Ado Bayero and Bishop Stephen Adegbite, during an audience at the State House, Abuja…yesterday PHOTO: SUNDAY AGHAEZE.

Rivers Communities Threaten to Shutdown NLNG Train 7 Project

Blessing Ibunge in Port Harcourt

Host communities of the Nigerian Liquefied Natural Gas, NLNG, Train 7 in Orashi area of Rivers State have threatened to shut down the project if the communities are not properly consulted.

The communities on the platform of Ekpeye Oil and Gas Pipeline

Host Communities, vowed to stop the commencement of the project if the federal government and companies involved failed to duly consult them.

They threatened a show down with multinationals operating in their area unless the companies addressed their challenges.

The group spoke yesterday,

during a briefing at Ahoada, Rivers State.

The communities claimed that the international oil companies, (IOCs), operating in their area have impoverished them for too long hence the need to address their plights.

The National Chairman of EOGPHC, Chidi Idogini, said it was

wrong that federal government and the NLNG were only dealing with Bonny communities in the Train 7 project, regretting that attention had not been given to Ekpeye people where the gas would be drilled.

Idogini stated that attention ought to have been given to Ekpeye communities where the raw material would be gotten than Bonny where

only a terminal is being sited.

He vowed that the people would not allow the project to commence if FG and NLNG did not consult and give them their rights, adding that employment quota should be given to the Ekpeye people.

Idogini said: "NLNG cannot start Train 7 contract without involving the Ekpeye nation, because the train

Emmanuel: Why I Preferred Pastor Eno as My Successor in 2023 Says God is involved

Okon Bassey in Uyo Akwa Ibom State Governor, Udom Emmanuel, has explained that the reason he preferred his Commissioner for Lands and Water Resources, Pastor Umo Eno, as his preferred successor in the 2023 governorship race was because he meant well for the state.

Speaking during an interview in Uyo, the governor said, “Let me say this emphatically, I mean well for this state, that is why I waited for God to show me the man, who would continue with the pace of developmental strides we have started in the last six years plus and then move the needle even further.

"Pastor Umo Eno is a highly respected person. He has enormous capacity; he’s an epitome of humility,

and is blessed with the common touch, a compelling story and is God-fearing.

"He is a successful entrepreneur, who has employed our people, lifted thousands from poverty to prosperity. He will be coming to the office of governor with an economic blueprint that will further guarantee employment, development, and economic prosperity for our people.

"He is a man of peace and will ensure that the peace and security of life we have enjoyed in the last six plus years will be maintained.

His life story resonates with the story of most ordinary Akwa Ibom people. He came from the police barracks, where, as he said during his thanksgiving service last year, life was dreary and hope seemed a distant ingredient.

"Through hard work, he sum-

moned hope and overcame his early difficulties and ended up as one of the biggest employers of labour in our state. His story is a testament to our Dakkada philosophy; one that will inspire and motivate our youths."

Emmanuel said he never looked for a surrogate to do a third term but rather was looking for a man of exceptional capacity, of peace and humility and enjoined all peace-loving and progress-minded Akwa Ibomites to rally round and support God’s choice.

“I will never use God’s name in vain,” he said, even as he expressed profound confidence in the character, disposition and capacity of Eno to lead Akwa Ibom State.

Emmanuel, who reaffirmed support for Eno’s candidacy in

Completion of Lekki Seaport is Solution to Apapa Gridlock, Says Sanwo-Olu Segun James Lagos State Governor, Mr. Babajide Sanwo-Olu has said the completion of the Lekki seaport would put an end to the intractable Apapa gridlock, which has defied solution over the years.

Sanwo-Olu said this in a statement at the opening ceremony of the Africa Business Convention, organised by BusinessDay Newspaper in Lagos, yesterday.

He noted that, “The final solution to Apapa gridlock will be the completion of Lekki Port.”

The governor said several measures would be put in place to ensure Apapa is congestion-free, saying, “we need to change the officials regularly to ensure there is no compromise in services rendered.”

Sanwo-Olu who spoke passionately about his administration's commitment to delivering the dividends of democracy to millions of Lagosians through his T.H.E.M.E.S developmental agenda for greater Lagos said his government had completed iconic projects within the state in the last two and half years.

He also cited some of the infrastructural projects such as Lekki Deep Port, the fourth Mainland Bridge, Red and Blue line rails and Imota Rice Mills, among others that are ongoing or in the pipeline, which according to him would be completed and become operational within the next 24 months.

The governor said the process leading to the commencement of the construction of the fourth Mainland Bridge, which starts

from Badore in Ajah and ends in Ikorodu, would be completed before the second quarter of the year.

He said: “Lagos is, in addition to being Africa’s most populous megacity, the continent’s premier business and investment destination, and we will continue to do all within our power to remain so.

“As I speak, several landmark public and private infrastructure and investment projects are underway or nearing completion in Lagos State; the biggest single-train petroleum refinery in the world, one of the largest rice mills in the world, one of the largest and most modern deep-seaport on the continent, and West Africa’s biggest light rail network. Within the next 24 months, we expect all of these to be operational.

2023, also spoke, when delegation of leaders and stakeholders representing various sections of the state visited him, at the Government House, Uyo to present the 2023 governorship hopeful and seek his blessings to commence consultations.

He described Eno as an embodiment of godliness and good character and one, who has shown great capacity in various levels of leadership in the state and therefore opined that while some people were meant to be kings, there were others, who where destined to be fathers of the kings.

The governor appealed to those,

who might still be nursing mixed feelings about supporting the chosen successor to free their minds, assuring them that God was involved in the decision as Akwa Ibom was in the heart of God. Reiterating that he was not interested in playing godfatherism role or governing through a surrogate, he said, "The day I leave office, I leave. I don't want even one minute more through a successor. This government has no godfather. For me, God is the father of everyone. All I want is the welfare of the citizens of Akwa Ibom.”

7 is totally a business that has to do with Ekpeye and partly Ogba communities.

“This train 7 is coming from Ekpeye so it is expedient for them to come and discuss with us because we will not allow any company to come to Ekpeye land to do the drilling without due consultation and involvement.

"Go to Bonny that is just a transmission center and see what is happening there, but here where it will be drilled, nothing. We are calling on every well-meaning sons and daughters of Ekpeye to take it on themselves. We are championing the interest of Ekpeye people where some person will benefit.

"NLNG cannot employ 12,000 persons in Bonny and feel that Ekpeye people will be happy.

That will never happen. They must come here. If they feel they want to balkanize Ekpeye, they want to come in and feed fat, that era has gone.

"We are calling on the governor to take it as a matter of utmost urgency to talk to the IOCs because they are trying to introduce what is known as divide and rule method and we will not accept that.”

Oyo Killings: House Asks Customs to Pay N390m to Victims' Families Udora Orizu in Abuja The House of Representatives has asked the Nigeria Customs Service (NCS) to pay the sum of N390 million as compensation to families of persons reportedly killed and brutalised last year by Customs personnel in Iseyin, Ibarapa, Jibia and other communities in Oyo State.

The lawmakers had last year, while adopting separate motions sponsored by Hon. Shina Peller and Hon. Ajibola Muraina, mandated its Committee on Customs and Excise to investigate the killings with a view to ensuring that victims are adequately compensated.

At the investigative hearing in October, families of victims had demanded compensation from the service as well as a public apology for the barbaric acts.

While the relatives of the Iseyin, Oyo State victims had asked for N4.5 billion as compensation for the four killed and one injured, the families of the Igangan, Igbo

Ora, Ayete and Tapa in the Ibarapa area of Oyo State demanded N700 million.

The House considering and adopting the recommendations contained in three reports, presented by Chairman Committee on Customs and Excise, Hon. Leke Abejide, said life has no duplicate and cannot be replaced once lost, as such, the families of the deceased should be compensated in monetary terms.

According to the lawmakers, each of four souls lost at the Iseyin incidence would be compensated by the Nigeria Customs Service with the sum of N20,000,000, while that for the person who sustained a gunshot injury be paid the sum of N2,000,000 as compensation for the treatment of the injuries sustained.

For Jibia LGA incidence, the lawmakers said each of the 10 souls lost should be compensated with the sum of N20,000,000 by the Nigeria Customs Service, adding

that the 13 persons who sustained gunshot injury should be paid the sum of N2,000,000 for the treatment of the injuries sustained.

For the other communities, the reports stated: “That the House do consider the Report of the Committee on Customs and Excise on the Investigative Hearing on the Brutal Murder at Igangan, Igboora, Ayete, Tapa in Ibarapa Area of Oyo State by men the Nigerian Customs Services and approve the recommendations therein.”

The House also recommended that officers involved in the acts should be brought to book and punished accordingly to serve as a deterrent to others.

They advised that provision should be made for procurement of ballistic vehicles (Bullet Proof), Bullet Proof Vests, and helmets urgently for Nigeria Customs Service to confront the daredevil smugglers attacking their officers at Border Stations whenever the smugglers opened fire on them.

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NEWS

Arrested Zamfara Terrorist Confesses Killing over 20 People Says his gang leader recruits over 200 terrorists

Francis Sardauna in Katsina A 25-year-old suspected terrorist, Naziru Sani, has confessed that he killed over 20 innocent Nigerians across Katsina, Zamfara and Sokoto states in separate attacks on communities within the states.

Sani, an indigene of Makera village in Tsafe Local Government Area of Zamfara State, has confirmed to journalists that he is a terrorist under the leadership of Bello Turji who has been on Police wanted list.

The suspect, who was paraded by the Katsina State Police Public Relations Officer, SP Gambo Isah, alongside other criminals, said he has invaded many villages and towns in the affected states with his gang leader, Turji.

He said: “I belong to a terrorists’ gang of Bello Turji who is currently residing in Jangebe forest in Zamfara. Turji has more than 200 members. I have killed more than 20 people with AK-47 in different attacks.

I do receive N20,000 to N30,000 in each operation that we carried out with my leader”.

Sani, who regretted his action, added that: “I was on my way to Suleja (Niger State) when policemen arrested me early in the morning in Funtua local government of this state.

I left my wife and children in Zamfara”.

While parading the suspect, Isah said, police operatives apprehended the suspected terrorist along Jabiri Quarters in Funtua Local Government Area of the state after receiving credible information from

residents.

According to Isah, “In the course of investigation, suspect confessed to be a terrorist-bandit under the leadership of a notorious terrorist “Bello Turji”, who has been on the commands’ wanted list.

“The suspect further stated

that he has participated in many attacks on innocent communities in Katsina, Zamfara and Sokoto states. Investigation is ongoing”.

Isah further explained that the Command also arrested the trio of Bello Sani, Ma’aruf Muhammed and Sani Basiru of Dunburum village in Zurmi

Local Government Area of Zamfara state with 2,400 bottles of Pentazocine injections.

He noted that nemesis caught up with the hoodlums when they were accosted by a team of Policemen on patrol along Bugaje community in Jibia local government area of Katsina State.

“In the cause of investigation, suspects confessed to be supplying the items to bandits in Dunburum forest and mentioned one Yusuf Abubakar, ‘m’, of Kano state as the supplier of the injection, suspect was also traced and arrested”, he added.

ENHANCING ENGINEERS’CAPACITY..

L-R: Chairman, Nigerian Society of Engineers (NSE), Ikeja Branch, Tosin Ogunmola; Minister of Interior, Rauf Aregbesola; Chairman, Sifax Group, Taiwo Afolabi; NSE President, Gidari Wudil; NSE Deputy President, Margaret Aina Oguntala, at the inauguration of Rauf Aregbesola Engineering ResourceTower in Ikeja, Lagos…yesterday

Group: Police, Ebonyi Not House to FG: Get N’ Assembly’s Approval Before Touching Savings Laments Govt’s N1.8trn debt servicing in Q2 2021 Doing Enough to Find Missing NELAN Engineers Udora Orizu in Abuja

David-Chyddy Eleke in Awka An Onitsha-based rights group, International Society for Civil Liberties and Rule of Law (Intersociety) has accused the Nigeria Police Force and the Ebonyi State government of not showing enough commitment to finding abducted NELAN engineers.

The engineers working on an African Development Bank (AfDB) sponsored project had arrived Ebonyi State three months ago to continue work on the project, but went missing, shortly after their arrival.

Intersociety, in a press statement signed by its Board of Trustees chairman, Mr. Emeka Umeagbalasi, which was made available to journalists in Awka noted that it has been 90 days since

the disappearance of the five engineers, and that very little information has been availed the public, the company and the families by the police and Ebonyi State government.

The release read in part: “Totality of these, in addition to leadership failure on the part of the present Government of Ebonyi State have been responsible for continued abduction and disappearance of the five NELAN Field Engineers since 3rd November 2021 at the construction site of the AfDB funded $150m Ebonyi Ring Road Phase 2 Project located at Effium in Ohaukwu Local Government Area of Ebonyi State.

“Their high profile abduction and disappearance have lasted for almost three months with nothing concrete coming out of same.”

The House of Representatives has urged the federal government to make concerted and conscious efforts to secure the future by urgently controlling population growth with necessary policies and securing approval from the National Assembly before tampering with the country’s savings.

The lawmakers also advised the federal government to

increase earnings, diversify resources, focus more on nonoil sectors of the economy by adopting alternative sources of revenue to enable foreign inflow from oil earnings to go straight to the Sovereign Wealth Fund (SWF) without affecting budget financing.

The resolutions of the lawmakers were sequel to the adoption of a motion on the, ‘Need for the Federal Government to Save Funds for

Future Generations,’ sponsored

by Hon. Chinedu Obidigwe, at the plenary, yesterday.

Moving the motion, Obidigwe noted that the federal government ought to make conscious and concerted efforts to secure the future of Nigerians.

He expressed concerns that the federal government spent over N1.8 trillion on debts servicing in the first five months of the year 2021.

This, he said represents

approximately 98 per cent of the total revenue generated in the same period, which begs the question of where the savings are.

The lawmaker said: “Also notes that Nigeria’s Sovereign Wealth Fund (SWF) aims at the following: (i) save money for future generations provide stabilisation of funds to defend the economy against commodity (oil) price shocks, and provide financing for badly needed infrastructures.”

Electoral Bill: PDP Lawmakers Accuse APC Govs of Plotting to Scuttle Buhari’s Assent Sunday Aborisade, Udora Orizu and Juliet Akojie in Abuja The Peoples Democratic Party caucus in the National Assembly yesterday alleged plans by some powerful forces within the All Progressives Congress (APC)to prevail on President Muhammadu Buhari to shun assent to the 2010 Electoral

Act (amendments) Bill 2022, forwarded again to his office on Monday.

The PDP senators and House of Representatives members have therefore, asked Buhari to shun those working against the bill by appending his signature as soon as possible.

The Senate Minority Leader, Enyinnaya Abaribe and the

House Minority Leader, Ndudi Elumelu, stated this while addressing members of the PDP BoT members before a closed door meeting at the National Assembly.

Chairman PDP BoT, Senator Waleel Jibril, who led the delegation urged the PDP caucus to work with the party

leadership to “ensure that we take over power from the APC in 2023” Abaribe said: “The minority caucus of the PDP in the National Assembly is asking President Muhammadu Buhari to sign the Electoral Act which we had passed. We made sure that everything he complained about we have given it to him.”

January 8, 2022 is billed to be sworn into office on Thursday January 3, 2022.

But a faction in the party, which has continued to fight for the control of the leadership structure even after losing out in the congress, went to court and filed a suit to stop the scheduled inauguration.

The interim e-xparte order to stop the swearing-in of

Ononogbu was sought in the Suit No: HUK/50/2021 Davies Jumbo & ORS Vs APC & ORS. However, Justice Chijioke Ahuchogu in his ruling on Monday on the application for interim ex-parte order declined to grant the request of the appellants thereby scuttling their plan to stop Ononogbu from functioning in his new

capacity as Abia APC chairman.

The preliminary objection challenging the power or jurisdiction of the court to hear the case was equally argued and ruling reserved for February 18, 2022.

Speaking on the court ruling, counsel to APC, Mr. Vigilus Nwankwo noted that the suit “is on life support and will eventually die” in the court.

Buhari: FG Poised to Halt Future Court Rejects Request to Stop Inauguration of Elected Abia APC Chairman Industrial Action By ASUU Deji Elumoye inAbuja President Muhammadu Buhari has expressed the readiness of his administration to stall future industrial action by the Academic Staff Union of Nigerian Universities (ASUU) by ensuring that past agreements reached with the universities’ lecturers are honoured.

He said the federal government remains committed to honouring those promises made to ASUU to prevent disruptive strikes, engender uninterrupted academic programmes and improve funding of education institutions.

The President made the pledge yesterday at the State House, Abuja while playing host to members of the Nigeria Inter-Religious Council (NIREC) led by the Co-Chairs, the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, and President of the

Christian Association of Nigeria ( CAN), Rev’d Samson Olasupo Ayokunle.

According to him, “‘My administration is committed to this engagement and dialogue, and I urge them to stay the course towards a joint resolution in the best interest of our children and nation”.

Commending the leadership of NIREC for intervening in the year-long strike by ASUU and holding consultations with the parties, the President said no society which wishes itself well neglects its educational system and all its component parts.

President Buhari urged NIREC to in its subsequent consultations with members of ASUU, share with them that Government regards them and the service they provide to the nation very highly.

Emmanuel Ugwu-Nwogo in Umuahia An Abia State High Court sitting in Ukwa has refused to grant an interim ex--parte order to stop the inauguration of the newly elected state chairman of the All Progressives Congress (APC), Dr. Kingsley Ononogbu.

Ononogbu, who emerged at a special congress held on

Ekiti Guber: No Better Candidate than Kolawole, Says Ayu

Chuks Okocha in Abuja

National Chairman of the Peoples Democratic Party (PDP), Iyorchia Ayu, yesterday said that Ekiti state governorship candidate, Bisi Kolawale in the July 18 election as the only credible option of the party to fly it’s flag in the June 2022

governorship election.

He also described him as an experienced politicians.

Ayu spoke at the presentation of certificate of return to Kolawole who won the party primaries last weekend at the National Secretariat, Abuja.

According to Ayu, “who knows the rudiments of Ekiti

state politics haven gone through the State House of Assembly, Commissioner and later the state chairman of the party.

“Bisi Kolawole have seen it all as a politician. He is a perfect fit as our candidate.

He was a member of the state House of Assembly. He was a commissioner in the state and

later, PDP Ekiti state chairman.

So, Kolawole is a well breed politician.

“Let me appeal to our brothers and sisters in Ekiti state to put behind all their grievances and work towards the success of our party. It is only when we win that we can seat down and talk better,” he said.

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NEWSXTRA

Gunmen Abduct 10 Persons in Ondo, Demand N100m Ransom Fidelis David in Akure

No fewer than 10 persons have been kidnapped by suspected gunmen in a farm at Ayede Ogbese in Akure North Local Government Area of Ondo State.

THISDAY gathered that those abducted included a farmer, identified as Femi Alawiye, and his workers.

It was gathered that the victims were kidnapped in the farm last Saturday evening.

A source said Alawiye was called on the phone that his farm was on fire, and he quickly rushed down to the farm to see the level of the purported inferno. As he got to the farm, the hoodlums appeared from hiding and whisked them away.

The source said: “Last Saturday evening, he (Alawiye) was called on the phone that his farm was on fire, and he quickly rushed to the scene. On getting to the farm, the armed men suddenly appeared and whisked them away to an unknown destination.”

A family member of the kidnapped farmer, who spoke on the condition of anonymity,

said the criminals had contacted his family to demand N100million ransom, and after series of negotiation, the sum was reduced

to N10million.

“Some hours after the adduction, the kidnappers called the family on phone to demand

N100milion, and that failure to produce the money; we may not see them again. Five of them (farm workers) were later released.

“Later, after the negotiation they reduced the ransom to N10milion. But the family is yet to raise the money. That

is where we are now. As I am speaking with you, all of them (victims) are still in the den of the kidnappers.”

FACILITY TOUR OF CAVERTON AVIATION…

L-R: Managing Director/Accountable Manager, Caverton Helicopters Limited, Mr. Rotimi Makanjuola; Chief Executive Officer, Caverton Offshore Support Group Plc, Mr. Bode Makanjuola; Chief Executive Officer, Nigerian Exchange Limited (NGX), Mr.Temi Popoola; Doyen of the stockbrokers, Alhaji Rasheed Yusuff, and Divisional Head,Trading Business, NGX, Mr. Jude Chiemeka, during the facilitytourof CavertonAviationTrainingCentre/CavertonMRObyNGXofficialsandcapitalmarketoperatorsin Ikeja, Lagos… yesterday.

ETOP UKUTT

2023: Tambuwal Represents Gunmen Raid Niger Communities Despite Govt’s Assurance Ideal Candidate to Succeed President Buhari, Says Group Laleye Dipo in Minna

Chuks Okocha in Abuja

Nigerian Youth Union (NYU), the umbrella organisation of Nigerian young professionals, yesterday said that the Sokoto State Governor, Alhaji Aminu Waziri Tambuwal is the ideal presidential candidate the youths expect to succeed President Muhammadu Buhari in 2023.

NYU noted “all these above-60 leaders contributed in many ways in making Nigeria the poverty headquarters of the world, where more that 14.5 million Nigerian children lack access to quality education and healthcare.”

In a statement made available to journalists in Abuja, yesterday, the National President of NYU, Comrade Chinonso Obasi, disclosed that Nigerian youths have organised themselves so as to be able to infuse their positive youthful energy into selecting a forward-looking president for the country.

The group regretted that “young people of this great nation have been disconnected from governance, simply because the outgoing President, General Buhari, overlooked the youths in the belief that his fellow gerontocrats are all-knowing.”

Yola Disco Assures Customers of Quality Service Delivery Yola Electricity Distribution Company (Yola Disco) has responded to picketing of its facilities by the National Union of Electricity Employees (NUEE) and Senior Staff Association of Electricity and Allied Companies (SSAEAC) as a campaign of calumny.

The company noted that the action was an act of economic sabotage to the company and the People of Adamawa, Borno, Taraba and Yobe State by illegally denying the citizens access to electricity.

The company insisted that the conditions that compelled its decision to right size have not been altered by the campaign of economic sabotage embarked upon

by the unions.

In a statement signed by Head of Corporate Communications of Yola Disco, Mr Olugbenga Adebola, the distribution company said it remained firmly committed to using all the resources it can generate to serve the interests of the people of Adamawa, Borno, Taraba and Yobe States who benefit from its services.

The statement said the issues at stake were being deliberately misconstrued by the labour unions, emphasizing that it is open to continue engaging with them as it continues to put high premium on the interest and livelihoods of majority of the people of the states benefitting from its services.

Despite assurance given by the state government that it will deploy air and land troops to ward off insurgents from communities in the state the terrorists have again raided two local governments killing 14 people some of them said to be security personnel.

The latest attacks took place between Monday night and

Tuesday morning in Tasan Kura in Rafi Local Government and Kwanan Dutse in Mariga local Government.

Unconfirmed reports also have it that three villagers were killed by the marauders in Ishau in the Paikoro local government also on Monday evening.

It was gathered that a large number of villagers were injured in the affected Communities where

herds of cattle were also rustled by the gunmen.

According to an eyewitness, 26 villagers mostly women were kidnapped at Tasan Kura while the number of those abducted from other villages across the local governments were said to be over 100.

“People are now migrating from the troubled villages to safe places” one community leader

told THISDAY. It was learnt that people in Adunu village were running to Paiko while those in Mariga area have been relocating to Bangi.

According to reports, the bandits were abducting the villagers in their numbers to use them as shields because they have realised that air operations will not be carried when the villagers are in their custody.

APC Chairmanship: Niger Gov Backs Senator Musa Niger State Governor, Sani Bello, has expressed his support for the aspiration of the lawmaker representing Niger East, Senator Sani Musa, to become the next National Chairman of the ruling All Progressives Congress (APC).

Senator Musa, a leading contender for the position of the ruling party’s national chairman, is the Chairman, Senate Services Committee in the Upper Chamber.

Speaking yesterday when

he received Senator Musa in company of the National Assembly Niger Caucus at the Government House, Minna, Governor Bello said he will do whatever he can to see that Musa gets what he wants.

He said “ It is time for North Central to be fully represented and that he wants someone from Niger state to occupy that position”.

The delegation, which was led by the Deputy Chief of the

Nigeria Senate and Leader of the NASS Niger Caucus, Senator Abdullahi Sabi, said the purpose of their visit was to commiserate and also to present Senator Sani Musa officially to the State.

The team condoled with the governor over recent attacks by bandits and terrorists across some local government areas in the state and prayed for God’s intervention to bring an end to this dastardly act by the ungodly elements

Briefing the governor on the other mission of the visit, Sen. Sabi informed him that the time has come for them to return home to meet the party and to seek audience with His Excellency as the leader of the state and the party to seek the governors unflinching support, wise counsel, prayers and everything possible for Senator Sani Musa to succeed as APC National Chairman.

He urged the governor to hold this process as his personal project.

House Moves to Investigate NDDC over Uncompleted Contract Juliet Akoje in Akoje The House of Representatives has mandated its Committee on Niger Delta Development Commission (NDDC) to investigate the non-completion of the contract awarded by the NDDC in 2012 to tackle the gully erosion.

It also urged the Ecological Fund Office and the Nigeria Erosion and Watershed Management Project (NEWMAP) to urgently

collaborate to seek a permanent solution to the erosion menace facing the University of Benin and surrounding Communities by funding and constructing alternative routes to the university.

The House consequently urged the Federal Ministry of Works and Housing and the Federal Roads Maintenance Agency (FERMA) to commence remedial work in the affected communities to restore access to the University of Benin and

other parts of Edo State.

These resolutions followed the adoption of a motion on the need to address the devastating gully erosion at the University of Benin and the surrounding communities moved by Hon. Dennis Idahosa at plenary yesterday.

He noted that over the years, gully erosion has been causing severe damages to the Infrastructure and Ecological environment at the University of Benin and its adjoining

communities.

“The erosion has cut off the university from its host communities, making life unbearable for staff and students, including Iquo-Hana, Iguo-Efosa, Utah, and other adjoining communities.”

“The alternative routes to the University and surrounding communities have also been cut off, thus preventing students living outside the school campus from having access to the university”

Air Peace Apologises to Emeka Oparah Resumes in Dubai as VP Airtel Africa Corporate Social Responsibility supported me along the way Communications and CSR Passengers over Flight Delays Emma Okonji (CSR) operations in 14 African as I journeyed in my career, for Airtel Africa, with a new

Air Peace has apologised to passengers over flight delays, acknowledging that customers are kings, but insisted that the airline would never compromise on safety standards no matter the situation.

The airline made this known in a statement made available to THISDAY, explaining that airlines do not benefit from flight delays or cancellations, but that such delays always emanate principally

from safety considerations more than any other factor.

The airline added that it has reached out to many passengers whose flight were delayed recently as it also feels their pains when the situation arises.

It added that a recent case of a dissatisfied passenger, which went viral on social media, was due to weather and sudden breakdown of aircraft on the Sokoto, Akure, Ibadan and Kano routes.

The former Director, Corporate Communications and CSR at Airtel Nigeria, Mr. Emeka Oparah, has been promoted to Vice President(VP), Corporate Communications and CSR at Airtel Africa Plc. Opara, who resumed at the Dubai, United Arab Emirates (UAE) head office of Airtel Africa yesterday, will oversee the telecoms company’s Corporate Communications and

countries, including Nigeria, where Airtel Bharti operates.

Excited by the promotion, Oparah, in his Facebook Page yesterday, wrote: “From Nigeria to Africa...Today, after 19 and a half years in Airtel Nigeria, I formally assumed a new position in Dubai, UAE, as the Vice President Corporate Communications & CSR, Airtel Africa Plc, with responsibility for 14 countries. To all who

I will forever be in debt of gratitude. All the glory goes to the great architect of the universe!”

Oparah has been in Nigeria working with Airtel Nigeria as the Director, Corporate Communications and CSR, and was later promoted to VP, Corporate Communications and CSR at Airtel Nigeria, before his recent promotion as the VP, Corporate

role to oversee the 14 African countries, where the Indian’s Airtel Bharti operates.

Oparah has gathered wealth of experience in corporate communications and CSR in his over 19 years working for Airtel Nigeria and he is expected to bring to bear, the wealth of experience in Airtel Africa, which manages 14 African telecoms operations, Nigeria inclusive.

WEDNESDAY FEBRUARY 2, 2022 • T H I S D AY

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WEDNESDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Eguavoen Submits AFCON 2021 Technical Report to NFF

Says: “People need to act responsibly and not turn their disappointments into hate speech and threats against Maduka, Iwobi” Duro Ikhazuagbe Interim Head Coach of the Super Eagles, Augustine Eguavoen has submitted an in-depth technical report on Nigeria’s participation at the 2021 Africa Cup of Nations to the Nigeria Football Federation.

General Secretary of the NFF, Dr Mohammed Sanusi, confirmed yesterday that the federation has received the technical report on the Super Eagles’ outing in Cameroon 2021 from the team’s technical crew led by Eguavoen.

“We have received the technical report on the AFCON 2021 and we are presently studying it, in

conjunction with the Ministry of Youth and Sports Development.

Once the study and appraisal are done with, we will make known our position,” NFF Dr Sanusi stressed yesterday.

Nigeria won all her three group phase matches against Egypt, Sudan and Guinea Bissau in Garoua, and emerged the only team in the tournament to log maximum nine points from three matches. The team however lost by the odd goal to Tunisia in the Round of 16.

Meanwhile, Eguavoen has defended Maduka Okoye and Alex Iwobi after they were singled

out for blame following Nigeria’s elimination from the 2021 AFCON. Goalkeeper Okoye was trolled by fans for failing to keep out Youssef Mskani’s shot from outside the area two minutes after the break.

Iwobi, who came in as a replacement for Kelechi Iheanacho in the second half was shown a red card within five minutes of his introduction.

Both faced a lot of flaks on social media with comments ranging from trolling over looks to death wishes upon their families and his loved ones.

But yesterday, Eguavoen in an interview with Al Jazeera condemned those who engaged in such behaviors on the Internet.

“People need to act responsibly and not turn their disappointments into hate speech and threats against

some players,” began Eguavoen.

He insisted Super Eagles gave their best and it was wrong to single out Iwobi and Maduka for Nigeria’s early exit from the tournament.

“These players gave their everything and there is no way you can single them out for blame.

Playing for Nigeria comes with a lot of pressure, but you cannot bully, threaten or abuse someone

for defending the honour of the country because you have access to social media. This is wrong and irresponsible,” concludes the gaffer who is programmed to lead Eagles to the last hurdle to the 2022 World Cup in Qatar.

The Super Eagles will take on Ghana’s Black Stars in the FIFA World Cup Qatar 2022 play-off round scheduled for the month of March.

Cameroon’s Young Lionesses Arrive for Falconets

Cameroon’s U20 girls, Young Lionesses will fly into the Federal Capital, Abuja this morning for their FIFA U20 Women’s World Cup, fourth round second leg clash with the Falconets of Nigeria, scheduled for Saturday at the Moshood Abiola National Stadium.

The Lionesses, who held the rampant Falconets to a scoreless draw in the first leg played at the Stade Reunification in Douala penultimate Saturday, will arrive aboard an Air Ivoire flight.

Thenff.com reports that the match officials for the encounter slated to kick off at 4pm on Saturday will arrive in Nigeria latest Thursday, with the Confederation of African Football

having appointed Togolese official Vincentia Amedome as referee.

Amedome will be assisted by compatriot Abra Agbedanou (assistant referee 1); Ghanaian Doris Essuman Darko (assistant referee 2) and yet another Togolese Edoh Kindedji (fourth official).

The match commissioner is Aisha Nalule from Uganda while Ghanaian Emmanuella Grace Aglago will serve as referee assessor.

The winner over two legs will proceed to the final round of the qualification series, scheduled for March.

This year’s FIFA U20 Women’s World Cup finals will hold between August 10th and 28th in Costa Rica.

Egbe, Cameroon Authorities Hold Talks over AFCON Pitches

The Chief Executive Officer of Monimichelle Group, Ebi Egbe, and the authorities in Cameroon have held talks on the way forward for pitches being used in the ongoing AFCON. Egbe whose outfit is Africa’s leading stadium facilities construction firm was invited by the Governor of Douala, Samuel Ivaha Diboua, disclosed yesterday that meetings that centered on how to make the pitches remain in good shape after the Nations Cup have taken place with his firm.

“The Cameroonian authorities are already looking at how to

sustain the gains of hosting Africa’s biggest football fiesta.

I am delighted that the job Monimichelle is doing is being recognized by other African countries. For us in Monimichelle, the way to go is the construction of pitches that would outlive tournaments. We will bring our expertise to bear on this in Cameroon,” Egbe pledged.

He disclosed that he has seen what the challenges are especially at the Japoma Stadium in Douala.

The pitches used by Cameroon at the on going AFCON failed the passmark of most of the coaches and players at the tournament.

Super Eagles were Knocked out of the ongoing AFCON 2021 in Cameroon by Tunisia in the Round of 16. Eagles were the best team of the group stage, winning all three games against Egypt, Sudan and Guinea Bissau.

Nigerian Referees Have Failed, Says NRA President The President of the Nigerian Referees Association (NRA), Otunba Tade Azeez, minced no words in insisting that “Nigerian referees have failed to live up to expectations of Nigerians.”

Speaking at the badging of Nigeria’s 2022 FIFA referees, assistant referees, beach soccer and Futsal referees at the NFF/FIFA Goal Project inside the Package B of the Moshood Abiola National Stadium in Abuja yesterday, the NRA Boss said that the NFF has done very well in supporting the men in black to perform their duties very well.

“The NFF has been doing well to provide all the support that we need, and our FIFA and CAF instructors have also been doing their bit in trying to put us in great physical shape.

TODAY Katsina Utd v Sunshine Nasarawa v Enyimba Akwa Utd v Kwara Utd Shooting v Heartland Kano Pillars v Remo Rivers Utd v Dakkada Rangers v Plateau Utd Abia Warriors v Wikki

Nigeria’s Sports Facilities expert and CEO of Monimichele Limited, Ebi Egbe (left), and the Governor of Douala, Samuel Ivaha Diboua, shortly after the meeting on how to sustain the facilities used for AFCON 2021

Lobi Stars v Tornadoes

THURSDAY Gombe v MFM FC

“But we have let them all down and we must turn a new leaf and aim for better performances,” Tade admonished his colleagues who were being badged.

Speaking in similar vein, the NFF demanded that the country’s referees and assistant referees up their game in order to become very relevant and indispensable on the international scene.

Member of the NFF Executive Committee and Chairman of the Referees Committee, Alhaji Sharif LMC Rabiu Inuwa set the ball rolling by reminding the auditorium that Nigeria had only one official – an assistant referee - at the ongoing 33rd Africa Cup of Nations finals in Cameroon.

“That we could only have one assistant referee at the AFCON is a big indictment on all of us. We are not doing enough as professionals, and we must take this as a big challenge.

“We are proposing that we have a monitoring team for our referees who officiate internationally so that we can have accurate assessment of how they perform and conduct themselves,” he noted.

NFF General Secretary, Dr Mohammed Sanusi said: “To whom much is given, much is expected. Nigerian refereeing should be at a much higher level by now if the values of discipline, commitment, professionalism and integrity are held sacrosanct. Apart from officiating ability, there are

other parameters that assessors look at that you may not be aware of. If you wish to grow, you have to be honest and fair to yourself in all that you do.”

After decorating the referees with their badges, NFF 2nd Vice President/Chairman LMC, Mallam Shehu Dikko charged the referees to develop the mental strength and fortitude to overcome their present challenges and any form of handicap, and commit to greater performances and upholding of the highest professional values at home and internationally.

A total of 30 referees, made up of 11 referees, 11 assistant referees, 4 beach soccer and 4 Futsal referees received their badges at the occasion.

RangersTargetReturntoWinning Ways as Plateau Utd Visit Rangers International F.C will be looking to maintain the form that has seen the Flying Antelopes go seven-match unbeaten while targeting a return to winning ways in the Match Day 10 fixture of the 2021/2022 NPFL season as Plateau United visit the F.C Ifeanyiubah Stadium, Nnewi today.

Having dropped four of a possible six points from their last two fixtures against Remo Stars at home and Dakkada on the road, Coach Abdul Maikaba

N P F L M I DW E E K F I X T U R E S will be leading a crack squad against his former employers with his sight fixed on annexing all three points at stake to enhance his team's position on the log.

With 16 points from a possible 27 and occupying the third position on the log, the Flying Antelopes would have to up their game in this fixture against a familiar foe, Plateau United that succeeded them as champions

in the 2016/2017 season.

Ties between both sides have never seen any dull moment whether in Jos or Enugu as was the case last season when coach Maikaba was with the ‘Tin City Side’ as the first confrontation in Jos ended 2-1 in favor of the Jos side while the return leg ended 2-0 in favor of the Coal City side with Issif Traore and Ibrahim Olawoyin getting the goals.

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WEDNESDAY, ͺ˜ ͺ͸ͺͺ ˾ T H I S D AY

SPORTS

Unrest at Home Motivating B’Faso against Title-seeking Senegal Burkina Faso coach, Kamou Malo, admitted yesterday that news of political unrest in the country is spurring his team on at the Africa Cup of Nations as they prepare for tonight’s semi-final against Senegal.

"These goings-on give us added motivation," said Malo, whose side are through to the last four after edging Tunisia 1-0 in the quarterfinals.

"We dedicated that victory to the people back home who are

AFRICA CUP OF NATIONS SEMIS going through a turbulent time politically and socially."

The landlocked west African nation has been battling a jihadist

insurgency, while last week President Roch Marc Christian Kabore was overthrown in a military coup.

On Monday Burkina Faso was suspended from the African Union.

"We have been dealing with this terrorism for a number of years now and it continues to plunge our people into mourning,

so our objective is to give them something to smile about," Malo said.

"We won't hold back if through our efforts on the field we can offer some hope.

"People are already asking me to bring back the trophy and that is what we would love to do."

Meanwhile, after a slow start to their Africa Cup of Nations campaign, Sadio Mane's Senegal are finally starting to justify their tag as pre-tournament favourites heading into Wednesday's semifinal against Burkina Faso.

The west African rivals meet in Yaounde with Aliou Cisse's team looking for the victory that would take them through to a second consecutive AFCON final, two and a half years on from their defeat to Algeria in Cairo.

The Lions of Teranga carry the pressure of being Africa's topranked national team and perhaps feel the weight of history more heavily too: Senegal have never been continental champions, while on the other side of the draw stand Egypt and Cameroon, the two most successful nations in the tournament's history with a combined 12 titles.

TODAY (S’FINALS) B’Faso v Senegal (8pm)

THURSDAY Cameroon v Egypt (8pm)

Greenwood Rearrested on Sexual Assault Charge Burkina Faso players are motivated to make their compatriots happy back home despite the political turmoil in their country.

PHOTO: CAF Images

Premier League’s £7.6bn Contribution to UK’s Economy Praised by Chancellor The Chancellor of the Exchequer has praised the impact of the Premier League in how much it raises for the United Kingdom economy.

The EY Report into the economic and social impact of the Premier League that was released on Tuesday revealed that Premier League football contributed £7.6billion to the UK economy during the pandemic-hit 2019/20 season.

"It's fantastic that the Premier League has contributed billions to the economy throughout the pandemic," Chancellor Rishi Sunak said. "This is testament to football fans’ unwavering support for the beautiful game.”

The EY report reveals that in 2019/20, the League and its clubs generated a total tax contribution of £3.6bn to the UK Exchequer, which Sunak now heads. Of this sum, £1.4bn was accounted for by Premier League players.

The total tax contribution underpinned by clubs has increased from £0.5bn in 1998/99, and this sum would have been greater but for the pandemic, which led to an estimated £1.3bn loss in broadcast and matchday revenues due to Premier League matches being played behind closed doors.

The report also highlights the funding for grassroots football by the Premier League, which is accompanied by Government

investment in public facilities.

In October, the government announced £205million of additional funding that will be invested into community sports facilities throughout the UK. The facilities in England will be delivered through the Football Foundation, which the Premier League funds along with Government and The FA. "This report shows the Premier League continues to score for the economy," Sunak added. "And we are continuing to invest in the game through our support for grassroots facilities in communities across the country.

"This will help the next generation of players realise their dream of playing in the world's greatest league, wherever they come from."

Manchester United footballer Mason Greenwood has been further arrested on suspicion of sexual assault and making threats to kill.

The 20-year-old was arrested on suspicion of rape and assault on Sunday.

Greater Manchester Police (GMP) said it had been granted more time to question him having previously been given an extension on Monday.

Manchester United have said he will not play for the club until further notice.

GMP said the player was arrested on Sunday after the force "became aware of online social media images and videos posted by a woman reporting incidents of physical violence".

It said magistrates had granted a second extension to keep him in custody until Wednesday (today).

Video game developer EA Sports said the forward had been removed

from FIFA products.

A statement said Greenwood had been removed from active squads in FIFA 22 and also suspended from appearing in FIFA Ultimate Team packs and Ultimate Draft.

Sportswear firm Nike previously said it had suspended its relationship with the footballer.

"We are deeply concerned by the disturbing allegations and will continue to closely monitor the situation," a spokesman said.

Greenwood, who made his debut for the club in March 2019, signed a four-year deal in February 2021 after rising through the ranks of the academy.

On Sunday Manchester United said the club "did not condone violence of any kind" and had been made aware of the allegations but would make no further comment until the "facts have been established".

Chancellor of the Exchequer, Rishi Sunak (right) is excited by what the Premier League has contributed to the UK economy PHOTO: Soccerex during the COVID pandemic

ITTF Lists Valuejet Lagos Para Open for 2022 The International Table Tennis Federation (ITTF) has listed Valuejet Lagos Para Table Tennis Open among the Factor 20 events on its 2022 calendar.

Valuejet Lagos Para Open is the second para tournament to be staged in Africa in 2022 after Egypt Open and it has joined the growing list of elite para tournaments to be sanctioned as a ranking and evaluation event for top players across

the globe by the world table tennis ruling body.

According to Pablo Pérez, ITTF Head of Para, the decision to sanction and list Valuejet Lagos Para Open was based on the evaluation of the ITTF team coupled with the experience of Nigeria in staging a world title event.

“After organizing the event three years in a row between 2019 and 2021, the Nigerian

federation finally felt prepared to ask for the sanctioning.

It invited ITTF to send an inspector to watch the event and evaluate the conditions and the conclusions were positive,” he said.

Considered as an end-of-theyear tournament, the 2022 edition of the tournament will hold on December 15 to 17 at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium in Lagos.

Mason Greenwood...rearrested over assault charge

PHOTO: EPA

Wednesday, February 2, 2022

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Price: N250

MISSILE Senate to MDAs

“We must follow the law during recruitment 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 for lopsidedness in employment”--Chairman, Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Danjuma La’ah, warning Ministries, Departments and Agencies to adhere to the law.

KAYODEKOMOLAFE Lessons from Ukraine’s Identity Politics THE HORIZON

kayode.komolafe@thisdaylive.com

A

s is their wont, separatists in Nigeria often refer to the breakup of the defunct Soviet Union and former Yugoslavia as perfect examples of forced unions that were bound to disintegrate. They summon these inappropriate historical parallels as they prophesy that the 1914 amalgamation of Nigeria by Lord Lugard would also one day end up in dismemberment as a union of incompatibles.

Indeed, Soviet Union and Yugoslavia, as countries, are no more on the world map. So the wrong impression is often given that what happened to the Soviet Union in December 1991 and the events in Yugoslavia between June 1991 and April 1992 were models of smooth separation of multi-ethnic countries.

Russia is the largest of the 15 countries that emerged from the Union of Soviet Socialist Republics (USSR) and Ukraine, a nation at the crossroads of Russia and Europe, is the second largest. The other independent nations that emerged from the collapse of USSR are Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Tajikistan, Turkmenistan and Uzbekistan.

The current crisis in Ukraine is another sobering reminder that separation may not be the end of tensions among ethnic groups that once belonged to the same country. This is more so in countries defined by complex ethnic mix as it is the case in Nigeria. Separatists often ignore the dynamics of history. This could be sometimes dangerous.

There are some elements with otherwise legitimate separatist aspirations who peddle the myth of USSR and Yugoslavia as exemplars of bloodless separation. They are historically incorrect. The situation in Ukraine today is another proof of their error.

Yes! The 15 nations making up the USSR went their different ways, but not as watertight compartments of ethnic groups.

Similarly, the ethnic tensions that followed the disintegration of Yugoslavia turned out to be bloody among the Serbs, Bosnian Muslims, Kosovo Albanians and, of course, Croats. The bloodletting in the Balkans in the wake of the separation of Yugoslavia was of such magnitude that that the term “ethnic cleansing” was first used to describe the horrific happenings in parts of the region in the 1990s. It is a specific type of genocide propelled by prejudice against other racial, cultural or religious groups. The aim of the aggressor is to annihilate the others based on hate and falsehood. The notorious Serbian leader, Slobodan Milosevic, was the spirit of this crime against humanity.

It is, therefore, clearly wrong-footed to see the collapse of Yugoslavia as a model.

For clarity, the agitation of separatists is supported by international laws and conventions on a peaceful basis. The nations that once belonged to the USSR and Yugoslavia exercised their rights to self-determination on the basis of this international legal and moral framework.

However, the socio-political consequences of the contradictions arising from the process of separation are practical questions for each emergent nation to find practical answers after separation.

Vladimir Putin In the current crisis, Russia has massed tens of troops at the eastern border with Ukraine, a nation that has been turned into a geo-political playground by Russia and the West. The West has warned Russia of the “consequences” of such an action. There is the palpable fear that Russia may invade Ukraine to deter the eastward expansion of the North Atlantic Treaty Organisation (NATO), a military alliance that is a hangover of the cold war.

Meanwhile, NATO is expanding years after the dissolution of its opposite number, the Warsaw Pact between the USSR and eastern bloc countries.

The strategic location of Ukraine has , therefore, brought to the fore the geo-political dimension of the crisis. The story presented by the western media is simply that of an aggressive President Vladimir Putin of Russia who is bent on dominating another nation, Ukraine. From this perspective, the worrisome development in Ukraine is simply the return of Russian Empire. That line is amplified in Africa.

It is little remembered that the current crisis coincides with the 30th year anniversary of the collapse of USSR, which Putin, , once described as a “catastrophe.” Western pundits still celebrate what they call the “collapse of communism;” but they forget that nothing has ever happened to Russian nationalism.

Putin is a strong Russian nationalist. He is far from being a communist.

Beyond the portrayal of Putin as the bogeyman in the dispute, the root of the problem should be located in the aftermath of the collapse of Soviet Union.

As an independent nation in over three decades, Ukraine has grappled with its own serious internal division which is the basis of the geo-political rivalry between the West and Russia.

The western part of the country is Ukrainian-

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speaking and has been the epicentre of the pro- Europe, pro-NATO protests. That portion of Ukraine wants a greater integration with Europe and is more western oriented. The eastern part of Ukraine is mainly Russianspeaking. The Russian-Ukrainians, of course, want closer ties between Ukraine and Russia.

Russia proclaims an obligation to these Russians who are nationals of Ukraine. Ukraine is politically separated from Russia, but this ethnic overlapping exists in the relationship between the two sovereign countries.

This factor of identity politics in the Ukrainian crisis is deeply rooted in history.

Ukraine has been under Russian hegemony for centuries. The resultant cultural and ethnic mix that have occurred over the centuries is an objective fact. It has been estimated that in actuality one in six Ukrainians is ethnically Russian while about a third is Russian-speaking.

The ties between Russia and Ukraine are by far older than the USSR which existed for only about 70 years. In the 18th Century, a process of “Russification of Ukraine” gathered momentum during the reign of Russian Empress, Catherine the Great. The empress, who ascended the throne after husband, Peter III, was deposed, is remembered in history as having huge territorial ambitions.

In recent times, the deeply rooted contradictions began to play out in March 2014 with the pro-western protests against the Pro-Russian President Viktor Yanukovych . The protests were brutally suppressed with wanton violation of human rights. At the end Yanukovych fled amidst tremendous pressures.

The divide within the Ukrainian nation was apparently exploited by Putin to invade Crimean Peninsula. The peninsula is of immense strategic importance as it provides access to the Black Sea. A referendum was forced in the area with Russian troops on guard. Despite the condemnation by the West, Russian has annexed Crimea on the basis of the referendum.

According to Putin, by the controversial annexation, “Crimean Tatars have returned to their homeland.” There have been reports in the last few years that some Crimean elements have jeld pro-Russia rallies. Soon after the annexation, a poll even suggested that about 41% of the people in the Peninsula elected to be part of Russia.

In response, some western countries have been imposing economic sanctions against

“One of the bitter lessons from the Balkans and the Slavic region of the world is that in the hands of right-wing populists and fascists, the politics of ethnic identity could be bloody”

Russia as they insist that the Crimean Peninsula should return to the southern part of Ukraine.

Besides, Russia has been providing military support to the pro-Russian separatists that have engaged the Ukrainian army. Since 2014, about 14,000 people have been killed in the conflict, going by the figures released by the United Nations. In fact, apart from the wars in the wake of the breakup of Yugoslavia, the conflict in Ukraine has been the bloodiest in Europe in recent years.

With this bloody background to the presence of tens of Russian troops at the border with Ukraine, it would not be out place to reflect on the efficacy of separatism in resolving ethnic contradictions.

Ironically, the USSR had a clause in constitution in support of self-determination.

Perhaps it was never envisaged that this clause would be put into effect one day. In an attempt to engender inclusiveness, Yugoslavia experimented with a presidium in a federalist arrangement. Despite these constitutional attempts at acknowledging diversity, the Soviet Union and Yugoslavia experiments at nation-building failed.

The lessons from the foregoing are obvious.

Nation-building could be costly in moral and material terms. It could be time-consuming and sometimes frustrating as a work in progress. This is simply so because unity cannot be decreed into existence objectively. It can only be cultivated at the subjective level.

No matter the magnitude of the costs of nation-building, separation in the Nigerian context might be more expensive. In their otherwise legitimate argument, separatists often take a static view of things. They fail to reckon sufficiently with the sociological dynamics of the country. In terms of ethnic mix, the Nigeria of 2022 is not exactly the same as the Nigeria of 2014. This is the point that should be made clear to those elements episodically issue quit notices to their compatriots in places where grandfathers of the “settlers” made home many years ago. Millions of Nigerians have found homes in parts of the country different from their places of origin. These “settlers” have all their material investments outside their places of origin. Their children and grandchildren do not speak the languages of these places of Nigeria. In the event of a historical accident of a breakup, it would take another ethnic cleansing to uproot millions of Nigeria from the places they have made their homes.

The cheaper option of nation-building should be pursued by the leadership with commitment and honesty of purpose. In order to adequately galvanise the patriotic energies of the people, the process of nation-building should be based on equity and well-defined policies of inclusion. The magnificent edifice of unity should be erected on the solid pillars of social justice.

Hence, a greater attention must be paid to the above stated intangibles and others in the process of governance.

It is the duty of the government and the people to ensure that the politics of ethnic identity is played in a bloodless manner.

One of the bitter lessons from the Balkans and the Slavic region of the world is that in the hands of right-wing populists and fascists, the politics of ethnic identity could be bloody.

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