Nigeria's Multiple, Overlapping Tax System Worries Buhari Says it's inefficient, creates uncertainty, instability Canvasses efficient tax administration for increased revenue Deji Elumoye in Abuja President Muhammadu Buhari has faulted the nation's current multiple and overlapping tax system saying it's inefficient and creates uncertainty and instability.
He therefore canvassed for efficient tax administration to boost the nation's revenue base. Speaking yesterday while declaring open the second annual National Tax Dialogue Week in Abuja, the president said he was worried
about the current tax system in the country, characterised by fragmented administration, multiple and sometimes, overlapping taxes. According to him: "Multiplicity of tax administration is as undesirable as multiplicity of taxes; it creates
uncertainty and instability; and above all, it is inefficient." He, however, expressed his administration’s commitment to an efficient tax system in order to improve tax revenue in the country. He said: ''In most tax-efficient
nations, tax administrative processes and practices are harmonised within a single system. ''One key deliverable of this year’s tax dialogue is to promote synergy in tax administration among the different tiers of government.
''Harmonising taxpayer identification across the country is a good start; but we must do more to promote ease of doing business (including ease of tax compliance) Continued on page 41
Nigeria Suffers $14bn Loss to Farmer-herder Clashes, Says Osinbajo… Page 6 Wednesday 30 March, 2022 Vol 27. No 9850. Price: N250
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With New Structure, Access Targets to Be among Africa’s Top Five Banks by 2027... Page 8
$418m Paris Refund: Governors Appeal Suit Challenging Dismissal of Deductions Chuks Okocha in Abuja Governors of the 36 States of the Federation have appealed the court judgment which dismissed their suit challenging the federal government’s planned deduction of $418 million from the federation account to settle
debts owed consultants engaged by the states and local governments on the Paris Club refunds. Justice Inyang Ekwo had dismissed a suit by the AttorneyGeneral of the 36 states against the federal government in a judgment delivered recently saying the
attorneys-general have not shown enough evidence to accord them the right to institute the action. He held that there was no express evidence to show that the governors of the 36 states consented to the filing of the suit. However, the governors through
their attorneys in their appeal, advised the general public and all financial institutions in Nigeria and abroad that the matter was subjudice and urging them to desist from dealing with the defendants in the suit. According to them, “with respect
to promissory notes issued to them and intended to be discounted and given value from funds due to the states of the federation from the federation account in respect of judgment debts arising from suits in connection with the London Paris club contracts pending the hearing
and determination of the appeal. “Be it known that any person or persons who take steps in respect of the promissory notes in the face of the pending appeal do at his or her peril.” Continued on page 41
Scores Feared Kidnapped in Terrorists’ Daredevil Raid on Kaduna Train Survivors speak of their ordeals, say they saw hell, prayed and prayed Buhari: No one will hold us to ransom, orders military to be ruthless with terrorists Amaechi confirms 8 dead, 41 hospitalised, 362 passengers onboard TUC, NMA, NBA, NBTE suffer casualties Bank of Agriculture MD, Hassan, niece, others still missing Life is near worthless under APC, president, says PDP Iyobosa Uwugiaren, Deji Elumoye, Chuks Okocha, Onyebuchi Ezigbo, Sunday Aborisade, Udora Orizu, James Emejo in Abuja, John Shiklam, Kasim Sumaina in Kaduna, Seriki Adinoyi in Jos and Hammed Shittu in Ilorin As many as 200 passengers might have been kidnapped during
Monday’s raid on a Kaduna-bound train by dare-devil terrorists in a well-organised operation, THISDAY has learnt. A THISDAY special investigation discovered that although 398 passengers bought tickets for the Continued on page 41
THE NATION FEELS YOUR PAIN...
Vice President Prof. Yemi Osinbajo, and Kaduna State Governor, Nasir El Rufai, at the 44 Nigerian Army Reference Hospital, Kaduna, to console victims of the Abuja -Kaduna train terrorists’ attack... yesterday PHOTO: Tolani Alli
Constitution Review: National Assembly Transmits 44 Bills to States... Page 5
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Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0809 7777 322, 0807 401 0580
NEWS
NATIONAL TAX DIALOGUE... R-L: President Muhammadu Buhari; Minister of State Budget and National Planning, Prince Clem Agba; Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; CBN Governor, Mr. Godwin Emefiele, and Alhaji Aminu PHOTO: SUNDAY AGHAEZE Yakubu Wambai and others as the president declared open the second National Tax Dialogue at the State House in Abuja...yesterday
Constitution Review: National Assembly Transmits 44 Bills to States Sunday Aborisade in Abuja The National Assembly yesterday transmitted 44 constitution alteration bills to the 36 State Houses of Assembly for concurrence. The Clerk to the National Assembly, Mr. Olatunde Ojo, distributed the copies of the bills to clerks of the state legislature at a ceremony in Abuja. He said the transmission of the constitution of the Federal Republic of Nigeria to states was the first time since the country
returned to civil rule in 1999, when the clerks would be invited physically to the National Assembly. He said the event was in compliance with Section 9(2) of the 1999 Constitution of the Federal Republic of Nigeria (as Amended). He said, "We must see ourselves as bona fide and privileged representatives of the Nigerian people, because what we are doing today is one of the sacred and cardinal obligations
of responsible and responsive servants of the people. "The journey towards the Fifth Alteration started at the inauguration of the 9th National Assembly that took Constitutional Amendment as one of its key legislative priorities among others. "Given the importance of alterations to the constitution, the two chambers of the 9th Assembly at inception inaugurated committees on Constitutional Amendment headed by the Deputy President of the Senate,
Distinguished Senator Ovie Omo-Agege and the Deputy Speaker, House of Representatives, Rt. Hon. Ahmed Idris Wase respectively. "The 9th Assembly has since delivered on this key legislative priority and has equally passed 44 Bills for the alteration of the Constitution of the Federal Republic of Nigeria. "Today, we are transmitting to you a total number of 44 bills as passed by the National Assembly.”
FG will Have Only 5% Stake in National Carrier, Minister of Aviation Insists Chinedu Eze
The Minister of Aviation, Senator Hadi Sirika has insisted that the planned national carrier which is billed to commence operation later this year would be private sector driven as the federal government would only have five per cent stake. The minister made this known yesterday while fielding questions during the discussion on the future of global aviation at the ongoing World Government Summit Dubai Expo 2020, where he reiterated that members of the public would have 95 per cent stake in the national carrier with the core investor holding 49 per cent equity. Sirika said aviation remains the fastest growing sector of the nation’s economy since the COVID-19 lockdown and described the country as the best place for airline business in Africa. He said available statistics had been giving the federal government cause for cheers, saying the serviceable airports and prospecting airlines had both doubled, adding that aviation had been positioned as the fastest growing sector of the national economy. Sirika also stated that the Aviation Road Map programme developed by the President Muhammadu Buhari
administration was running its full course with planned actualisation of the national carrier, setting up of an aircraft maintenance facility, leasing company, aerospace university and concession of major airports in the country. The minister stressed that Nigeria needs a national carrier because of its 200 million population, most of whom are very mobile and exploiting all modes of transportation, including air transport, which has recorded increasing passenger traffic
since after the coronavirus lockdown. He pointed out that international carriers jostle to operate in the Nigerian route and demand multiple entry points because of the country’s high traffic and stressed that the present administration has succeeded in expanding the nation’s airport capacity to 50 million passengers per annum. However, the President of Emirates, Sir Timothy Clarke, pledged that Emirates would be willing to provide support to the Nigerian
flag carrier start-up and would also be available for collaboration to aid the speedy growth of new carrier, Nigeria Air. Meanwhile the President, Airport Council International (ACI) H.E. Luis Oliveira, said Africa, which comprised 15 per cent of the global population accounted for merely two per cent of the global traffic, adding that Africa deserved all the support she could get to improve her air transport in all facets of the business.
According to him, the bills deal with major issues on developments, governance, politics and the economy. "It touches on issues which include the abrogation of the state Joint local government account, financial independence of state legislatures and judiciary in compliance with legislative autonomy, timelines for civil and criminal cases. "With the transmission of the Constitution of the Federal Republic of Nigeria 1999 (Fifth Alteration) Bills, 2022, it must be made clear and unambiguous that the 9th National Assembly has started the process of restructuring within the polity. "The fact of the matter is that powers are being shared enthusiastically and drastically in the sense that the states are now empowered to generate and distribute electricity, construct and own railways, airports and correctional centres. "We are now going to have Financial Autonomy at the State Judiciary and the local layer of government. "The Ministry of Justice and the Attorney General of the Federation, even at the various State levels will now be separated, ditto for the Office of the Accountant
General Office. "You will agree with me that a strengthened Local Government will attract fundamental changes with more professionals as we have created a nursery school where people will learn the ropes of politics and governance, where they will move up the ladder of politics so that there will be no political neophytes,” he added. Speaking further, he said: "That will be a way of urgently introducing rapid development and democratic progress at the third tier of government. "All stakeholders and drivers of pragmatic implementation of these alterations are hereby urged to put on the garment of fervent patriotism to make things work accordingly." He solicited the support of the journalists and the civil society groups in the remaining process. The Chairperson of the Forum of Clerks who is also the Clerk to the Delta State House of Assembly, Lyna Ocholor, pledged that her colleagues would carry out necessary legislative actions on the bills. Both chambers of the federal parliament had considered and approved 44 out of the 68 bills meant to alter the 1999 Constitution as amended.
Transcorp Group Delivers Impressive Results, Posts N27.9bn Profit Transnational Corporation of Nigeria (Transcorp) Plc, one of Nigeria’s largest conglomerates with investments in hospitality, power and oil and gas sectors has reported significant performance, across all its major investment lines, for the financial year ended December 31, 2021. Notwithstanding the tough operating and business environment, the conglomerate saw its revenue leap improved by 48 per cent to close the year at N111.2 billion, compared with the 75.3 billion recorded at the end of 2020; while its operating income grew by 114 per cent from N18 billion in 2020, to N38.5 billion in the year under consideration.
Its audited results released on the Nigerian Exchange Limited (NGX), also showed that its profit before tax grew significantly by 1600 per cent, rising from N1.6 billion at the end of the 2020 financial year to N27.9 billion, while profit after tax which was N3.8 billion the previous year, rose by over 530 per cent to close the year at N23.9 billion. The results showed that its shareholders’ funds also grew by 53 per cent from N95.4 billion to N146 billion in the year under review. Commenting on the performance, Transcorp’s President/Group Chief Executive Officer, Owen Omogiafo, explained that it was achieved as a result of the improved performance
across all its businesses, adding that the conglomerates’ various investments in key segments of energy and hospitality had been turning in huge returns. She said: “We are very pleased with the progress of our transformation agenda for Transcorp. We remain committed to building an institution that will delight all our stakeholders and will be here for many generations to come,” adding that the conglomerate also recorded growth in both its power and hospitality investments, with the hospitality arm showing a strong recovery from the Covid-19 pandemic, with results comparable with pre-covid era.
Speaking specifically about the consistent progress recorded in its various concerns especially its hotel business, Omogiafo, said, “The 143 per cent growth reported in the hospitality arm of the business this year, is a testament to the strong spirit of resilience, innovation, and execution within the Group.” She added: “The additional investments we made in our power businesses, led to the increased revenue witnessed in that sector, notwithstanding some of the challenges in the sector, which are now being addressed. “We stayed on course with our OPL281 investment and are well on the way towards the attainment
of our integrated energy strategy.” According to her, the hotel business as well as its other concerns are fully geared up to continue to churn out outstanding performance in the current year especially as the world continues to recover from the effect of the COVID-19 pandemic. “Transcorp Group remains committed to its strategy of sustainable growth and continuous drive to deliver value, We do not plan to rest on our laurels, and we will continue to work diligently and remain well-positioned to provide significant value for our stakeholders,” Omogiafo assured its stakeholders.
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TINUBU@70... L-R: Kano State Governor, Abdullahi Umar Ganduje; Lagos State Governor, Babajide Sanwo-Olu; former Lagos Governor, Bola Ahmed Tinubu and former Ogun State Governor, Chief Olusegun Osoba, during the announcement of the cancellation of Tinubu’s 70th birthday colloquium at Lagos...yesterday
Nigeria Suffers $14bn Loss to Farmer-herder Clashes, Says Osinbajo
Goddy Egene and Ebiti Yusuf
Nigeria has lost over $14 billion yearly due to the frequent farmerherder clashes, Vice President Yemi Osinbajo said yesterday. Osinbajo made the disclosure in Lagos, while declaring this year's Livestock and Aquaculture Trade Fair open. Represented by the National Livestock Transformation Plan (NLTP) Delivery Advisor at the Federal Ministry of Agriculture & Rural Development, Efosa Onyezebe, the vice president, noted that it was disheartening that a country whose population was projected to rise to over 250 million by 2030, was suffering such a huge loss because of clashes between farmers and herdsmen. According to Osinbajo, in order to tackle the challenge, the federal government initiated the NLTP to support and strengthen the development of market-driven ranches in the livestock ecosystem for improved productivity through breed (genetic) improvement and pasture production, in addition to efficient land and water productivity improvement. The vice president explained that under the programme, about 22 states have so far sent letters of
expression of interest, adding that 10 states have set up the state Livestock Transformation Office, just as four states have identified and mapped the gazetted grazing reserves in their domains and are ready for take-off. He said some states have received funding for the development of the pilot ranches. Also speaking, the Minister of Agriculture & Rural Development, Mahmood Abubakar, called for the development of the nation's fishing industry. Represented by Mrs. Omolara Oguntuyi, Abubakar noted that the nation has no business importing fish going by the nation's abundant marine resources. The minister said: "If you look at Nigeria’s capacity for producing fish for example, it is enormous, and truly we don’t have any business importing fish. Fish do not grow on sand but in water and the country is blessed with abundant amount of water. We have lakes, creeks, rivers and Atlantic Ocean all filled with different kinds of fishes. “We also have diversity of fishes in our waters. So, what we should be doing is to take advantage of these natural resources which has been ignored for a very long time. “A typical example is the abundant stock of shrimps in our
water, drift fish and large lantern fish population that we can use to make our fish feed which is important to aquaculture production.” According to him, “we have to develop our fishing industry and not be dependent on importation. God did not make a mistake when He gave us the Atlantic Ocean and those lakes we have, it is only a prodigal
child that will have resources and will not use it and instead be looking at what others have.” “What we can do now is to promote what we have within our own country and a lot can be achieved in the livestock and aquaculture production. We have cattle, sheep, goats, pigs, poultry, rabbit, snail, tilapia and catfish
Udora Orizu in Abuja The House of Representatives yesterday resolved to invite the Accountant General of the Federation (AGF), Ahmed Idris and the Minister of Finance, Budget and National Planning, Zainab Ahmed, over the non-implementation of the 20 per cent upward review of salaries of policemen approved by the Federal Government. Also invited were the Chairman of the National Salaries Income and Wages Commission, Mr. Ekpo Nta and the Director General of the Budget Office, Ben Akabueze. The Chairman of the House
Committee on Police Affairs, Hon. Usman Bello-Kumo, who gave the ruling during public hearing on three bills aimed to enhance the operations of the Nigeria Police, said there was a need to meet with the agencies to ascertain why the directive of upward review of police remuneration had not been implemented. Kumo who attributed the security challenges in the country to lack of synergy among agencies, said the government should do more in funding security agencies. He stressed the need to exclude the police from envelope budget system as well as address the
Abuja Disco reorganises, taps ex-Eko distribution MD
When completed, the ongoing Zungeru hydropower project will generate 2.63 gigawatts of electricity and employ 300 skilled professionals, the federal government has said. Minister of State for Power, Goddy Jedy-Agba, who spoke during the testing of the unit one of the 700mw plant in Niger state, said the dam deployed the latest technology which has ensured the shortening of the completion of the core civil construction period by over two years. According to him, some parts of the project were built using Original Equipment Manufacturers (OEM) from General Electric. He said the implementation of the project will enhance the technical knowledge of Nigerian engineers in line with the Presidential Order No 5 as signed President Muhammadu Buhari.
Jedy-Agba noted that the immediate benefits of the project to the people of Niger will include water supply schemes for community use, dry season farming and irrigation, flood control mechanism, aqua-tourism opportunities and increased economic activities. He thanked the Chinese government for the cooperation and synergy existing between China and Nigeria which had been pivotal to achieving the progress so far on the project. Meanwhile, Abuja Electricity Distribution Company Plc (AEDC) has announced the appointment of Mr Adeoye Fadeyibi as its new Managing Director and Chief Executive Officer. Fadeyibi, succeeds Akinwumi Bada, who served as the company’s Interim Managing Director since last year and is now leaving to pursue other personal business aspirations, according to the
animal protein source when we have land and water we are not making use of.” “The time is ripe for us to revolutionise agriculture in Nigeria especially in the livestock and aquaculture development and the youths should be the bedrock of our drive to transform this sector in agriculture," he added.
Lawmakers Invite AGF, Finance Minister, Others over Non-implementation of New Salary Structure for Police
FG: Zungeru Power Plant to Deliver 2.63gw Electricity Annually Emmanuel Addeh in Abuja
among others that we can promote. “A lot of farm estates can be promoted, cage culture can be constructed within some of our rivers so that we can produce a lot of our own animals and fish needs. “The only thing that is unacceptable is for Nigeria to be totally dependent on other countries for
Distribution Company (Disco). Prior to joining AEDC, Fadeyibi, according to a statement by the AEDC, was the Managing Director of Eko Electricity Distribution Company, (EKEDC), a Lagos based electricity utility company. The distribution company stated that he was credited to have turned around the fortunes of the EKEDC by significantly reducing the company’s Aggregate, Technical, Commercial and Collection (ATC&C) losses, expanding its revenue base and delivering innovation in several aspects of the business. In addition, he was the pioneer Managing Director at Transcorp Power Ltd, Ughelli, Delta State, where he was said to have ramped up the generating company’s performance from 164MW to 634MW in 25 months. He joined Transcorp Power from General Electric where he had held
several roles with oversight for Middle East and Africa. AEDC also announced the appointment of Kassim Burkullu as its new Chief Technical Officer (CTO), replacing Mr. Oluwafemi Zacchaeus who had served as the Interim Chief Technical Officer. The Chairman of the Board, AEDC, Mr. Victor Osadolor, who spoke on the new appointments said: “We are very delighted that both Fadeyibi and Burkullu are joining our company and bringing with them exceptional abilities and invaluable industry expertise. "They will effectively complement the component of management team already in place. “These appointments are necessary steps in positioning AEDC towards efficiency in customer service delivery and ensuring the effectiveness of turnaround embarked upon by the new management of the company."
pension issues bedeviling the security outfit. He added, "This is necessary to have a Police Force that is motivated to carry out its constitutional duties, especially in the wake of numerous security challenges facing the country and also in view of the fact that the country is headed for an election year. “It is so pathetic that today in the country hoodlums and criminals are truly about to take over the entire security architecture of this country. It is not news and it is not something that is not in the public domain. The attack on the airport, the attack on our rail. All these are attributed to lack of synergy and intelligence sharing by security agencies." In his presentation, the Inspector General of Police, Usman Alkali Baba, said the move by the National Assembly to amend the Police Act 2020, the Firearms Act as well as the Bill to enact the establishment of the Nigeria Police Intelligence Institute would deepen police reform and re-position the Force for optimal operational output. The IG who was represented by Deputy Inspector General of Police, Sanusi Lemu, however regretted that since the inception of the Force, it had never had a training institution with the requisite legal status that could drive the capacity development process of the Force at both the operational and strategic levels. He said, “Policing all over the world is an intelligence driven enterprise. Unfortunately, although Nigeria Police is recognised as the lead agency in internal security, we are yet to nearly after 180 years of existence have a training institution with the requisite legal status that can drive the capacity development process of the Force
at both the operational and strategic levels. “This is gap is even more impactful considering the current security realities in the country. This informed the establishment of the Police Intelligence Institute, Share. “Unfortunately, despite the existence of the physical structures, the institution is yet to commence academic activities due largely to the absence of the requisite legal framework. “The Bill for an Act to establish the Nigeria Police Intelligence Institute is therefore critical to the take-off of this initiative as it would give legal backing to the reform agenda of the Police particularly in relation to the entrenchment of the professional culture of intelligence led policing and the development of the capacity of the officers of the Force and other sister agencies. “The Bill also when enacted would professionalise the activities of the institution and give legal recognition to the programmes and certificates of the institute. In essence it should be seen as a further step to the current attempt to reform and re-position the police." Declaring the hearing open, the Speaker of the House, Hon. Femi Gbajabiamila, said the bills were aimed empowering and strengthening the police for addressing lingering security challenges and other social vices currently bedeviling our nation. Gbajabiamila, who was represented by the Deputy Leader, Hon. Peter Akpatason, said the House would do everything within its ambit to pass legislation that would address the security challenges in the country for the benefit of all Nigerians. He urged the police to synergise with sister agencies with a view to tackling the security challenges.
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SENDFORTH DINNER... L-R: Executive Director Sales & Marketing designate, Red Star Express, Mr. Charles Uche Ejekam; Managing Director/Chief Executive Officer designate, Mr. Auwalu Badamasi Babaura; Mrs. Obabori; Outgoing Group Managing Director/Chief Executive Officer, Red Star Express, Dr. Olusola Peter Obabori, and Outgoing Executive Director Sales & Marketing, Mr. Victor Ukwat during the special dinner to honor the outgoing CEO of the company, Dr. Obabori in Lagos on Monday
With New Structure, Access Targets to Be among Africa’s Top Five Banks by 2027 Obinna Chima and Eromosele Abiodun
The Group Managing Director/ Chief Executive Officer, Access Holdings Plc, Mr. Herbert Wigwe yesterday said the banking subsid-
iary of the financial institution aims to be among the top five banks in Africa by 2027. Speaking during an interactive session with journalists in Lagos, Wigwe stressed that adopting a holding company (HoldCo)
structure would bring about more value to the shareholders and position the holdco Access to deliver more to its stakeholders. Under the new re-organisation, Access Holding Company Plc now serves as the parent company for
the group and its subsidiaries are: Access Bank Group; Access Payco Group; Access Lendco; Access Insureco; Access Real Estate, and Others (e.g., ecommerce). As part of its 20th anniversary which was celebrated this month,
Telcos Raise Alarm over Imminent Telecoms Disconnection in FCT, Kogi, Nine Others Seek urgent FG’s intervention
Emma Okonji Telecoms operators under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON) have expressed concern over an imminent shutdown of telecommunications facilities in Kogi State as a result of disputes arising from unusual taxes and levies demanded by the state government through its Kogi State Internal Revenue Service (KIRS). ALTON in a statement said the issue could lead to a total shutdown of telecoms facilities in the entire Kogi State, warning that this could also affect parts of Federal Capital Territory, with possible impact on service availability in nine other states, which he listed to include Nassarawa, Benue, Enugu, Anambra, Edo, Ondo, Ekiti, Kwara, and Niger states. The states listed share borders with Kogi State. The operators therefore called on the federal government to call Kogi State Governor, Yahaya Bello, to order, to avoid total shutdown of telecoms facilities in the state, which they stressed could also affect neighbouring states. Giving details of the issue on ground, ALTON, in a statement signed by its Chairman, Gbenga Adebayo and its Head of Operations, Gbolahan Awonuga, stated: “This situation arises as a number of critical telecommunications sites belonging to our members have been closed and sealed up by Kogi State government in an attempt to increase its Internally Generated
Revenue (IGR) collection. “This action followed an ex-parte court order obtained by the KIRS over unsubstantiated allegations that our members are in default of tax payments to the state government and access to these critical telecom sites has been denied. “As result of these actions by the state government, our members are unable to refuel power generators in these sites, a situation which has led to outage of over 70 sites including hub sites across parts of Kogi State. “Now, with likely impact on nine states surrounding Kogi (namely: Nasarawa, Benue, Enugu, Anambra, Edo, Ondo, Ekiti, Kwara, Niger States. These are States sharing borders with Kogi State), and Abuja the FCT inclusive. “We are very concerned that this indiscriminate action has the potential of further leading to a total telecommunications outage in Kogi State with neighboring states and parts of the federal capital territory, adversely impacted.” The statement further stated: “To the best of our knowledge, our members have settled all statutory levies and taxes due to the Kogi State government and have taken necessary steps to comply with local laws that govern business activities within Kogi State.” ALTON listed some of the charges from the statement government to include: Annual Right of Way (ROW) renewal; Social Services contribution; Employee Economic Development Levy; Mast site premises renewal; Fire service yearly renewal; from Kogi State
Environmental Protection Board on: Payment of environmental levy; Failure to submit an environmental impact assessment report; Failure to register industry; Failure to submit environmental audit report every two years; among others. The association said it was also worrisome that the action by KIRS could jeopardise communication services provided by its members to security agencies such as the Nigeria Police Force, the Armed Forces in addition and to other emergency and social services in Kogi and other neighboring states. It added that it would include affecting communication links to Bank Automatic Teller Machines
(ATM) across those states. ALTON said the outage currently being experienced, was already affecting the ability of its members to provide uninterrupted service delivery to commercial banks, Central Bank of Nigeria, the Nigerian National Petroleum Corporation and other critical agencies of government in the aforementioned locations. ALTON therefore called on state governments to explore other means of resolving tax related disputes rather than sealing telecommunications sites, saying it is therefore worrisome that the KIRS of Kogi State, continues to ignore such advice.
Access Bank had decided to start implementing its HoldCo strategy. “The Access Bank brand would continue to grow to become Africa’s truly most respected bank and by 2027, the target is that it would be one of the top five banks in the continent. There has never been a time that we shared our target with the market and we didn’t meet it,” Wigwe said. Wigwe pointed out that the strategic objective of the HoldCo included value accretion, agility, scale leverage, best-in-class talent and targeted consolidation. “Access will transition to the foremost financial services Holdco with a group of portfolio companies with significant complementarities that will drive value to all its stakeholders,” Wigwe said. He said Access bank will continue to grow across the continent, targeting to become the number five in the continent from number 12. He recalled that 20 years ago, Access Bank used to be ranked as the 69th bank in Nigeria, adding that through well-laid out plan and strategic vision, the bank was able to rise to become the largest bank in terms of balance sheet and customer base. “Then (2002), there was hardly any space for us. But between 2007
and 2012, through hard work, we became one of the top 10 banks in the country and the banking sector consolidation under Prof. Charles Soludo changed everything as we went into the market to raise capital. “Between 2012 and 2017, we told ourselves that we wanted to be one of the top three banks and we started by growing organically. Presently, we are in the last year of our 5-year corporate strategy which ends in 2022 and we shall have another five-year strategy for 2022 to 2027.” Following the completion of its scheme of arrangement with all approvals gotten for its HoldCo, Wigwe was on Monday announced as the Group Managing Director/ Chief Executive Officer (GMD/ CEO) of Access Holdings Plc. A notification to the Nigerian Exchange (NGX) Limited, signed by Company Secretary, Mr. Sunday Ekwochi, had also announced Mr. Bababode Osunkoya as the chairman of Access Holdings, while for the banking subsidiary, Mr. Roosevelt Ogbonna was appointed the Managing Director/CEO. In addition, Mr. Victor Etuokwu is now the Deputy Managing Director (North) and Mrs. Chizoba Okoli, Deputy Managing Director (South) of the bank respectively.
House Probes Shell's Alleged Injustice against Indigenous Company Udora Orizu in Abuja The House of Representatives yesterday mandated its Committee on Public Petition to investigate allegation of corporate injustice and economic under-development against Shell Petroleum Development Company of Nigeria by an indigenous company. The company, Compact Manifold & Energy Services Limited had through a petition, presented to the House by Hon. Doctor Farah Dagogo, Member representing Degema/Bonny Constituency, accused Shell of attempting to use a third party to defraud it for payment of services rendered. The Petition, signed by the
Company's project director, Tony Jibunoh, had lamented that the conduct of Shell was allegedly injurious to the spirit of Section 2 of the Nigerian Oil and Gas Industry Content Development Act, 2010, which seeks to protect the interest of Nigerian companies in award of contract, execution and payments. The petition read in part, "Shell is insisting to make payment through a third party company, Michharry & Company Nigeria Limited, which is neither a party nor a witness to the contract directly entered into between our company and Shell as a clear manifestation of vested interest to defraud our company by sharing
with Shell whatever percentage is given to the third party serving as its front. Compact Manifold & Energy Services Limited was engaged in laying pipeline offshore 6"x6KM Forcados Yakiri NonAssociated Gas Pipeline Project and 2 nos 6" x500m bulkline de-commissioning and installation project (Forc 37) in August 2019 at $15million. "Compact Manifold & Energy Services Limited executed the project and applied for payment since August, 2020 without any favourable response from Shell Petroleum Development Company despite a deceitful approval granted and countless assurances that turned out to be a
calculated plan to under-develop our company whose personnel are Nigerians that will be thrown out of job for no justifiable cause. “The deliberate refusal to discharge this liability and the corresponding anticipated danger of retrenching Nigerian employees who must be told the circumstances leading to their disengagement is grievous to disrupt the sustainable peace within the oil and gas communities where Shell and several other companies operate." The petitioner therefore, urged the Speaker and the House to bring the alleged corporate injustice perpetrated by Shell against the company to an end.
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MIDWEEKPOLITICS
Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY
PDP Gladiators Jostling For Kaduna South Senatorial Ticket John Shiklam writes on top chieftains of the Peoples Democratic Party in Kaduna South Senatorial District jostling for the senatorial seat.
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Garba
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ith about 14 months to the 2023 general elections, chieftains of the Peoples Democratic Party (PDP) in Kaduna South Senatorial District are already warming up to contest for the senatorial seat. The senatorial zone has been a stronghold for the PDP since 1999. However, recent political developments in the area, especially the 2021 Local Government polls, has shown that the ruling All Progressives Congress (APC), is making an inroad to the area. The PDP’s top contenders for the senatorial ticket are Hon. Sunday Marshall Katung, Hon. Jagaba Adams Jagaba and the incumbent, Senator Danjuma La’ah. Katung, a lawyer and former lawmaker who represented Zangon Kataf/Jaba Federal Constituency in 2015 to 2018, is considered as the most experienced with a large support base across all divides in the area. This was part of the reasons why he was nominated as the running mate of, Isa Ashiru, the governorship candidate of the PDP in Kaduna state in the 2019 elections. With his vast experience as a lawyer and politician, observers opined that he is the man cut out for the job. Katung served as commissioner for finance and later water resources during the administrations of the late governor of Kaduna state, Mr. Patrick Yakowa in 2010 and Muktar Yero who succeeded Yakowa. Described as “a bridge builder and a politician with an intellectual touch,”Katung has a wide network of people across the country and it is believed that a person with such nationalistic posture could attract development projects to the senatorial district.
Besides politics, he is also a philanthropist whose activities have impacted positive on the people at the grassroots. His foundation, the Sunday Marshall Katung Foundation which he established, is said to have contributed immensely in assisting the less privileged. Katung was in the forefront for the provision of relief materials to hundreds of victims of banditry attacks in Southern Kaduna communities as well as communities in Kajuru and Chikun Local Government Areas in Kaduna Central Senatorial district. He also initiated scholarship scheme to assist indigent students acquire education. During his one term tenure in the House of Representatives Katung was said to have initiated programmes that impacted positively on the people, especially women and unemployed youths. He was said to be the force behind the rehabilitation of the dilapidated Kachia-Kwoi and Kachia-Zonkwa-Samaru roads by the Federal Road Maintenance Agency (FERMA). The former lawmaker is said to have set up solid structures and is reaching out to key stakeholders to support his ambition for the PDP senatorial ticket. Hon. Jagaba Adams Jagaba, described as a grassroots politician, is another strong contender for the senatorial ticket.
He was elected three times as member of the National Assembly who represented Kachia/ Kagarko Federal Constituency at different intervals since 1999. He had earlier served vice chairman of Kagarko LGA between 1997 and 1998 after which he was appointed Chairman, interim management committee of the council. Jagaba was also at a time, Kaduna state secretary of the PDP. This will be the second time he would be running for the senatorial ticket. He contested for seat in 2019 but lost the primaries to Senator La’ah. During his three term unconsecutive tenure in the House of Representatives, he was said to have initiated some welfare programmes for the people. He was said to have influenced the employment of about 200 youths across Southern Kaduna in the Federal Civil Service. Jagaba is a grassroots politician who is not a push over in the Senatorial race. Danjuma La’ah, is a force to be reckoned with as an incumbent. La’ah is the Chairman Senate, Committee on Federal Character and Intergovernmental Affairs. He was elected to the senate in 2015 and was re-elected again in 2019. He is said to be the first to be re-elected for two terms in the history of the senatorial zone. His predecessors such as Senators Zego Azeez, late Isaiah Balat, Caleb Zegi and Nenadi Usman, were said to have lost in their bids for re-election during their time. La’ah wants a third tenure, however, however this will depend on whether the electorates are satisfied with his performance in the senate. After retiring as Deputy Director, Federal Capital Development Authority (FCDA) he
went into business before joining politics. He is said to be the “biggest employer of labour” in the senatorial zone. As a serving senator, he is also said to have attracted a number of projects to the senatorial zone and facilitated the employment of many job seekers. He intervened in the education, health and security sectors in the senatorial district by renovating two dilapidated Primary Schools each, across the eight local governments in the senatorial district. He was also said to have procured hospital equipment (beds, blankets, microscopes, Generators, Fridges , motorcycles etc) worth over N100 million to 38 primary health centres in the area. Similarly he purchased 100 motorcycles to vigilantes groups to help tackle the security challenges in the area. He also constructed and furnished an auditorium with over 260 seats and computers which he donated to National Open University of Nigeria (NOUN) campus in the area. Also in the race is Hon. Nicholas Garba, a serving member of the House of Representatives for Jema’a/Sanga Federal Constituency. Garba who is the Chairman, House Committee on Anti Corruption is said to be a formidable aspirant with a large support base. The only new entrant in the political arena eyeing the senatorial seat, is Mr. Zakariya Suleiman Dauke, a retired zonal manager of the Nigerian National Petroleum Corporation (NNPC). Politicians are expected to indicate declare their interest in the days ahead. Observers are of the view that the contest would be tough, considering the calibre of the aspirants and the sophisticated political awareness of the people of the area.
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T H I S D AY ˾ WEDNESDAY MARCH 30, 2022
POLITICS
Enugu 2023: The Ike Ekweremadu Scenario
GOVERNANCE IN PHOTOS
Thrice Deputy President of the Senate, Dr. Ike Ekweremadu, enters the governorship fray even as the high-octane ‘zoning’ controversy in Enugu State scales up - challenging the extant transition model and projecting a new vision of governance. Louis Achi weighs the new scenario
Ekweremadu
T
oday, Enugu State, the South-East region and Nigeria at large stand on the brink of significant disruption and of substantial opportunity - as new political leadership models enter the fray to disrupt conventional governance playbooks and challenge traditional templates. As it were, only tested pathfinders with vision, knowledge and courage can provide the critical and inclusive leadership to ensure both stability and progression. The position of a state chief executive carries considerable weight, especially in charting the course of bold engagements with the critical elements in a democratic mix and pushing astute governance. This requires political and organisational transformation, especially in a political space that has long been driven by traditional and often parochial metrics. More, it requires bold, game-changing leadership. It is against this backdrop that thrice Deputy President of the Nigerian Senate and five-term Senator representing Enugu West Senatorial Zone of Enugu State, Senator Ike Ekweremadu, has his political radar locked unto the state’s governorship saddle come the 2023. On Friday, March 11, 2022, Ekweremadu formally announced his entrance into the Enugu 2023 governorship race, shredding several months of speculations on his interest in the state’s number one political perch and upending conventional permutations. With a decisiveness that has come to define his political trajectory, he named a former lawmaker and Commissioner for Housing in the State, Hon. Ogbo Asogwa, as his campaign coordinator.
Journey and Vision In an impassioned position surprisingly devoid of hubris, Ekweremadu declared that Enugu State has given him huge opportunities of service. He spoke at a recent consultative meeting with the media and unveiling of his development blueprint for the state. Some of these opportunities include being -“ the pioneer Council Chairman of Aninri Local Government Area, Chief of Staff to the Governor, Secretary to the State Government, five-term Senator, three-term Deputy President of the Senate, Deputy Speaker and Speaker of ECOWAS Parliament” and critical global exposure. He brings more clarity and insight into his journey. “In the course of this journey, I have met world leaders, business leaders, and made friends in both the private and public sectors of the national and global economies. I have had the opportunity to understand how states and nations are transformed. A good example is a city like Dubai, the UAE, which was a desert, but has now become the world most digitalised city and a global investment hub. I have an insight into the economic transformation taking place in Rwanda and Ghana. “As a Senator, I worked hard to put forward necessary bills and motions on constitutional amendments, security, education, economy, health and electoral reform, that have impacted and are still impacting positively on
the well-being of our people. I have initiated and completed many life-changing projects in our communities, beyond my constituency, in the very important areas of water, road, educational infrastructure, health, power, and many more. “I am limited to what I could mobilise as a legislator in developmental projects and programmes. At this point, therefore, I believe it is time to focus on Enugu State and Enugu people without whom I would not be who and what I am today. The governorship of Enugu State will offer me a good platform to serve our dear state more and better. “If elected Governor, I will utilise all the experience, friendship, partnership, and global contact acquired over the years to transform Enugu State to a model state”. Then in a compelling 14-point development agenda, “A Pathway to New Enugu State,” Ekweremadu put forward his blueprint to change the Enugu narrative for good and set the stage for a larger South-East regional development revolution. This traversed critical turfs as Industrialization, Road Infrastructure, Special Cities, Good Governance, Housing and Urban Renewal, Education, Youth Employment and Empowerment, Security, Health, Water, Energy Sufficiency, Tourism, Agriculture Ekweremadu hails from Mpu, in Aninri Local Government Area of the state. Significantly, his compelling grass-to-grace story largely mimics ex-US President Barack Obama’s. Currently, he is representing Enugu West Senatorial Zone and the larger state/geo-political region since 2003. Interestingly, the strength of reactions from top-draw politicians from other Senatorial zones in the state who apparently oppose Senator Ekweremadu’s ambition is perhaps indicative of the federal lawmaker’s unsettling clout and political chutzpa. There is more. The ‘Rotation’ Brouhaha In a period of disruption, states and countries live or die by their ability to envision new order, manage and adapt to change. In Enugu State’s case today, disruption, change/diversity management and transition are unquestionably central, dominant themes. With INEC’s rescheduling of governorship election for March 11, 2023, following the recent presidential assent birthing a new electoral law, multi-party jostling - both overt and covert - of who will succeed Governor Ifeanyi Ugwuanyi eventually is gaining considerable momentum. Not unexpectedly, the issue of zoning/power rotation in the state is taking center stage with often self-serving logic and contrived conceptual fog being generated to befuddle the conversation. Leaders of the ruling Peoples Democratic Party (PDP) in the state are at loggerheads over the debate surrounding zoning of the state’s 2023 governorship ticket. The zoning ‘dispute’ has pitted ex-governor and senator representing Enugu East, Dr. Chimaroke Nnamani, against Senator Ekweremadu who represents Enugu West in the Senate. Nnamani, who was not a product of zoning in his two-term gubernatorial excursion, as confirmed by his successor ex-Governor Sullivan Chime, has reportedly rallied key PDP leaders in the state to back the zoning of the ticket to Enugu East, a move Ekweremadu countered as a “gang up” against Enugu West. The Nnamani group insists the decision to zone the 2023 governorship ticket to Enugu East was based on a subsisting theoretical rotational zoning arrangement put in place since 1999. But according to Ekweremadu, the notion of the existence of a zoning formula for elective political offices in Enugu State is false; the electorate should support candidates who have capacity to provide good governance. Insisting there was no zoning, he provided an often less discussed but nonetheless significant perspective. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
L-R: FCT Chairman, Abdulmalik Usman, FCT Minister, Mohammed Bello and Gbenga Olawepo-Hashim at the FCT stand at the recent APC convention in Abuja
From left- Special Adviser to Osun State Governor on Commerce, Industry and Cooperative, Hon. Christy Ogunfolaju, Governor State of Osun, Mr. Gboyega Oyetola, his wife, Kafayat Oyetola, Commissioner for commerce industry and Cooperative, Hon. Bode Olanipekun and Mrs. Hamsat Jelilat at the presentation of cheques on SME Empowerment Programme tagged Gbowoga (Improve Your Business), at Nelson Mandela Freedom Park Osogbo
L-R: Ekiti State Governor, Dr Kayode Fayemi; Ekiti State APC Governorship Candidate, Biodun Abayomi Oyebanji and Lagos State Governor, Babajide Sanwo-Olu during the APC convention in Abuja
From left- The Timi of Edeland, Oba Munirudeen Adesola Lawal,; Osun State Deputy Governor, Mr. Benedict Alabi; Governor Gboyega Oyetola; his wife, Kafayat; Commissioner for Land, Hon. Nathaniel Agunbiade and Special Adviser to the Governor on Land, Hon. Aleem Akande Bakare, during the Turning of Sod for Mass Housing for Public Servants by Governor Oyetola, at the Back of Zone 11 Police Command, Abere, Osogbo
T H I S D AY ˾ WEDNESDAY MARCH 30, 2022
18
FEATURES
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
History Made as Nigerian Navy Begins Systematic Survey, Charting of Coastal, Offshore Waters The Nigerian Navy recently made history after its first multi-purpose Hydrographic Vessel, NNS LANA, began a systematically organised hydrographic survey and charting of the nation's coastal and offshore waters, using a Nigerian-owned survey vessel and state-of-the art modern survey equipment, wholly manned and operated by NN personnel. Chiemelie Ezeobi reports that the charting is expected to drastically reduce navigational risks to mariners posed by wreckage, enhance national security and boost the income of maritime agencies
NNS LANA, Nigeria's multiple-purpose hydrographic vessel
L-R: FOC Western Naval Command, Rear Admiral Yakubu Wambai; Chief of the Naval Staff, Vice Admiral Awwal Gambo; and Rt Hon Rotimi Amaechi at the jetty
Officers and men of NNS LANA during the systematic charting of the offshore waters
Launching the Sight Sound Sonar to map wrecks on the sea bed
I
pollution response, and limited cargo transport. In addition to performing hydrographic duties, it will also be used for logistical support, surveillance, emergency towing of disabled vessels, and fisheries enforcement patrols.
t would be stating the obvious to reveal that Nigeria has a coastline of about 420 nautical miles, and a sea area of about 84,000 square nautical miles which make up her coastal and offshore waters. Moreover, while its vast expanse of water body is home to numerous living and non-living natural resources of economic importance, its coastal and offshore waters hosts different forms of legitimate maritime activities, including maritime security, recreational boating, marine scientific research and commercial shipping among others. Challenge But for these maritime activities to thrive, accurate and up-to-date nautical charts and publications are required. Unfortunately, the charts and publications currently used for navigation within Nigeria’s coastal and offshore waters, cannot be said to be up-to-date, as most of the survey data used to produce them dates back to 19th Century when it was done by the British Government as the British Admiralty Charts. Worrisome Statistics Why is this worrisome? Aside the fact that indigenous chart do not guide sea farers, studies conducted by the Nigerian Navy Hydrographic Office in 2017 showed that less than one per cent of Nigeria’s coastal and offshore waters have charts with survey data of between one to five years old, while about nine per cent have survey data of between six to 100 years and above. According to the Hydrographer of the Nigerian Navy, Rear Admiral Emeka Okafor, the remaining 90 per cent of Nigeria’s offshore waters are neither surveyed nor charted to modern standard. "This situation prompted the Nigerian Navy to develop a National Surveying and Charting plan in 2018 in order to focus federal government’s efforts towards a systematic survey and charting of both Nigeria’s coastal
and offshore waters, as well as navigable inland waters. "Accordingly, in 2019, Nigeria joined the league of chart producing nations, when the Nigerian Navy, using local boats constructed at the Naval Dockyard Limited, Lagos, surveyed Lagos Harbour and produced Nigeria’s first indigenous navigational paper and electronic charts. "These charts were reviewed and accepted by the International Centre for Electronic Navigational Charts and the International Hydrographic Organisation, leading to the chart being allocated International number in 2021." Working Solution To ensure systematic charting of the nation's waterways, the NN acquired a multi-purpose Hydrographic Vessel, Nigerian Navy Ship (NNS) LANA to perform a variety of missions including coastal and deep-sea hydrographic and oceanographic research, navigational charting, geophysical studies, fisheries enforcement, and patrol and surveillance of the waters within Nigeria’s exclusive economic zone (EEZ). Among its secondary functions are towing, search and rescue (SAR),
Systematic Charting Begins Formally taking ownership of survey and charting of its own waters, an exercise hitherto performed by the British across West and Central Africa, the Nigerian Navy (NN) last week Tuesday commenced the systematic survey of the country's offshore waters. This came two hundred years after the colonial masters attempted it and took over charting of Nigerian waters, as well as that of other West and Central nations. But with the acquisition of Nigerian Navy Ship (NNS) LANA, a hydrographic vessel which is the first of its kind in the region, the came into its own and began charting the nation's entire 84,000 square nautical miles, including the back waters. The multipurpose vessel, which set sail Wednesday afternoon covered 22 nautical miles from shore for the exercise, after it was flagged off by the Minister of Transportation, Rotimi Amaechi, at the Nigerian Navy Ship (NNS) BEECROFT parade ground in Apapa, Lagos. The charting is expected to drastically reduce navigational risks to mariners posed by wreckage, enhance national security and boost the income of maritime agencies. At the event were Chairman, Senate
"Today will go down in history as the day Nigeria finally began the process of taking ownership of the survey and charting of its coastal and offshore areas, which are critical to her socio-economic development, national security and maritime defence as well as the safety of navigation in our waters"
Committee on the Navy, Abdul-Aziz Nyako, Managing Director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, Rear Admirals Yakubu Wambai, Ayo Olugbode, Ibrahim Shettimma, Kohaith Levi, among others. Earlier in his welcome address, the Flag Officer Commanding (FOC), Western Naval Command (WNC), Rear Admiral Yakubu Wambai, Said the CNS has been living up to his vision outlined on assumption of office "to leverage all factors of national location, technology, training. teamwork and synergy to re-energise the Nigerian Navy and enhance her as a well-motivated and ready naval force in the discharge of her Constitutional mandate and other assigned tasks in fulfilment of national security objectives." He said: "The sea remains the most veritable means of transportation that nations, individuals and groups, have exploited to prosper and become relevant. However, it is to be noted that a key requirement for use of this great common which is the sea is safety. Therefore, all the potentials and prospects man stand to benefit from the sea and by traversing it amounts to nothing without safety. " Accordingly, anything that would keep one away from danger in an unfriendly environment such as the sea is welcome. NNS LANA is one such asset that can facilitate safety at sea. She would however only perform that role by being constantly at sea collecting relevant hydrographic and oceanographic data with which to chart our waters and make them safe for all seafarers. "Putting it in context, the data to be collected by NNS LANA during her survey campaign would enable Nigeria take ownership of charting its waters. This has the potential of opening the maritime domain for improved maritime trade, efficient harvest of marine resources and effective maritime governance. "Accordingly, these would help enhance maritime safety, socio economic development and the prosperity of ordinary Nigerians
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T H I S D AY ˾ WEDNESDAY MARCH 30, 2022
FEATURES
The minister flagging off the systematic charting of Nigeria's offshore waters
Executive Officer, Commander Oladipo Giwa and NNS LANA Commanding Officer, Captain Abdullateef Mahmud at the bridge of sub-bottom minerals, harvest of natural resources and the conservation of living species in the water body in support of Nigeria’s Blue Economy Programme. "These and other acquired redundant datasets would be archived in different formats and models at the National Hydrographic Data Management System, within the Nigerian Navy Hydrographic Office’s Geospatial Data Center, to form part of Nigeria’s marine geo-spatial data infrastructure. "They will be made available to different Government Agencies, on demand, for different uses in support of their day-to-day activities, and also for coastal zone management, maritime governance and economic development among others."
and ultimately National Security." Minister's Commendation Speaking at the ceremony, Amaechi said the federal government was constructing another 35 metre survey vessel for the navy in France, adding that the survey of the country's waters would lead to the generation of about two million jobs as it would increase patronage of the country's ports. He said: "As this vessel commences the survey of Nigerian offshore today it is expected it would provide the necessary enablers to support the federal government’s economic diversification initiative through improved maritime security, maritime trade as well as improved economic prosperity. "NNS LANA in conjunction with a similar vessel to be acquired by the federal government would in a few years from now, completely survey offshore waters and produce indigenous nautical charts, publications to facilitate improve maritime shipping, security and economic development in Nigeria. "It is also expected that at the end of this survey and charting campaign, up-to-date indigenous nautical products will be available to facilitate smooth kick of the new seaports that are under construction. "Additionally, completion of this survey and charting operation would boost confidence of both mariners to increase patronage of Lagos, Port Harcourt and Calabar ports, just as the Warri, Sapale and other ports that are hitherto operating at the lowest level would be reactivated. "This would provide over two million direct and indirect jobs, increase the economic viability of these ports and ultimately decongest Lagos traffic as well as reduce pressure on our roads." A CNS' Pride Proud of the feat achieved, an elated Chief of the Naval Staff (CNS), Vice Admiral Awwal Gambo emphasised that the exercise was the first indigenous survey of the country's waters and the second attempt since the 19th century. He said: "This would be a Nigerian owned survey vessel manned by Nigerian Navy personnel to conduct systematic hydrographic survey of our offshore waters for the purpose of producing indigenous charts of our waters. "The implications of this is that in the next few years, indigenously produced survey data would be used to produce up-to-date nautical charts and publications for mariners' use within Nigerian waters. "This would not only replace old Admiralty chart currently used, it would also lead to the increase of safety within our waters, boost confidence of mariners leading to increase shipping traffic into various Nigerian ports for enhance economic prosperity." "Pertinently, this event is coming at a time the nation is committed to the sustainable development of its Blue Economy. Let me therefore assure you all, that the Nigerian Navy is poised to support the federal government in realising this economic objective." Alluding to May 17, 2021, when the vessel was welcomed to Nigeria after her maiden voyage from France to Nigeria, the CNS said since then, the crew have been undergoing training on various aspects of the ship and its equipment, as well as offshore survey practices, which were disrupted by COVID-19 pandemic while they were in France. "As at today, the crew have been adequately trained, hydrographic survey instructions issued and required logistics support have been provided for this all important national tasks. I must not fail to mention that to further consolidate the capacity of NN Hydrographers, the NN and University of Lagos last month signed a Memorandum of Understanding for partnership in hydrographic survey. "I have no doubt in my mind that the survey will be conducted in line with international standard. At this juncture, let me reiterate that today will go down in history as the day Nigeria finally began the process of taking ownership of the survey and charting of its coastal and offshore areas, which are critical
Hydrographer of the Nigerian Navy, Rear Admiral Emeka Okafor to her socio-economic development, national security and maritime defence as well as the safety of navigation in our waters." Taking Ownership of Its Survey But this process didn't start today. According to the CNS, "the process of taking ownership of the survey and charting of our waters started within Nigeria's backwaters in 2019, when the Nigerian Navy surveyed and produced the first indigenous chart of Lagos habour, which has since replaced the British Admiralty chart hitherto used for navigation in this area. "Other indigenous navigational charts covering our backwaters have also been produced since then. These include charts covering Ikorodu channel; from Apapa to Ikorodu and charts covering Badagry creek from Tin Can Island to Ogunkobo. " At the moment, Nigerian Navy survey teams are surveying Lekki Lagoon to link up with Lagos Lagoon in order to produce navigational charts linking Lekki to Ikorodu. Navy survey teams are also conducting joint survey of River Niger from Lokoja to Burutu in conjunction with National Inland Waterways Authority and Nigerian Import - Export Bank. "Hence, the flag off ceremony we are witnessing today, as well as completed and ongoing surveys within our maritime space clearly demonstrates a "Whole of Federal Government's Approach" towards building a National Hydrographic Capacity for improved maritime security and safety, as well as robust maritime trade for improved prosperity, economic development and general welfare of Nigerians." He further commended President Muhammadu Buhari GCFR, through the Ministry of Defence, for purchasing NNS LANA and an additional 35-meter boat under construction for the Navy, while pledging that the NN will make judicious use of these assets and others to be added in future, to facilitate navigable routes within Nigeria's maritime space through carefully planned systematic surveys and charting programme. Technical Brief In his technical brief, Hydrographer
of the Nigerian Navy, Rear Admiral Emeka Okafor, said with the induction of the vessel into the Nigerian Navy fleet by President Muhammadu Buhari on December 9, 21, the Nigerian Navy acquired the capacity to conduct survey within Nigeria’s coastal and offshore waters. Accordingly, he said by January 2022, LANA commenced preliminary survey of the offshore and coastal approaches, as part of preparations for final take off of the survey and charting campaign of this areas. He said: "During this preliminary survey operation, all the new survey equipment onboard LANA were calibrated, and the crew properly trained on all aspects of offshore survey. "At the end of the preliminary survey, a Calibration and Reference area was established within Lagos offshore for subsequent use by the NN and other interested surveyors, for equipment calibration when proceeding to survey within Nigeria’s coastal and offshore waters. "By this feat, the Nigerian Navy completes the development of hydrographic capacity for surveying the coastal and offshore waters of Nigeria. "This would not only boost mariners’ confidence but would also project Nigeria’s image within the international maritime community, as one of the countries to meet its obligations under Chapter 5, Regulation 9 of the Safety of Life at Sea Convention. "Furthermore, special charts that would be produced from this survey will help the NN and other maritime security agencies to effectively patrol Nigeria’s coastal and offshore waters for improved maritime security. " Apart from the nautical products that would be used for navigation within the coastal and offshore areas, other data would be processed in different formats to fill existing gaps in Nigeria’s National Geospatial Database. "Some of these data will be subsequently used to produce specialised charts for security operations and laying of submarine cables and pipelines. There would also be other datasets that would aid further exploration and exploitation
"This would provide over two million direct and indirect jobs, increase the economic viability of these ports and ultimately decongest Lagos traffic as well as reduce pressure on our roads"
Charting at Sea The multipurpose vessel, which set sail on Wednesday March 23, 2022 covered 22 nautical miles from shore for the exercise. At sea, the vessel began hydrographic survey in earnest despite the turbulence. The six journalists onboard including THISDAY, were first debriefed by Commander Oladipo Giwa, NNS LANA Executive Officer. While highlighting the multi purpose nature of the vessel, he stressed that the process of acquiring it was a capital-intensive one which took time, critical decisions, specialisations and skill sets. In an interview afterwards with THISDAY, the Commanding Officer, NNS LANA, Captain Abdulateef Mamud said the International Hydrographic Organisation (IHO) has three phases of capacity building initiatives- Maritime Safety Information, Charting Survey Capability and Charting Ability, noting that Nigerian checks the right spots. He said: "Now Nigeria Navy has been able to achieve this. We’ve already established Maritime Safety Information portal in 2009 now we are acquiring vessels to boost our survey capabilities and very soon we’ll start connection. So it means we’ve achieved a three phase of high troop capacity building initiative so far. "In Nigerian Navy, we’ve already achieved the first one which is establishment of Maritime Safety Information portal as we’ve been disseminating maritime information to mariners. Now in terms of Survey Capability we are already surveying our waters. So we’ve achieved the second phase. "The third phase is production of chart by a nation and now we’ve started so it means we’re almost achieving the three IHO capacity initiative." On the state-of-the-art equipment onboard the vessel, he said with the technology in these vessels "we can compete anywhere in the world. We have the state of the art, hydrophobic and autographic equipment, state of the art. We have single bill, multi bill, sub bottom profiler, acoustic doubler profiler, sight sound sonar, hybridometer and so many laboratory measuring agents for sonographic analysis and then we have the Conductivity Temperature and Depth (CTD)". It's one thing to have the equipment and another to have men to handle it. Stressing that the men are fully trained to man them, the CO noted that "yes, we have people that have been trained. We have the capacity and manpower to man the ship and carry out survey of our waters." On continuity and transfer of knowledge, he added, "There is a plan for continuity, people will come and take over. Apart from the people that came from France, we’ve started receiving other officers and men from Nigerian Navy and every department to gradually understand the vessel. I don’t think there’ll be any gap knowledge". On maintenance plans, the CO said the vessel is up for commercial partnership so the money realised will be channeled to its repairs. Whilst the nation waits with bathed breathe for the construction of the second hydrographic vessel to be completed, NNS LANA is set to continue to blaze the trail in Nigeria and even in the region.
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THURSDAY MARCH 30, 2022 •T H I S D AY
T H I S D AY ˾ WEDNESDAY, MARCH 30, 2022
21
BUSINESSWORLD R A T E S MONEY MARKET
A S
REPO
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Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com
08056356325
M A R C H
S & P INDEX
2 9 , 2 0 2 2
S & P INDEX
EXCHANGE RATE
OBB
14.00%
CALL
4%
INDEX LEVEL
565.29%
1/4 TO DATE
6.06%
N412.08/ 1 US DOLLAR*
OVERNIGHT
14.50%
1-MONTH
6%
1-DAY
–0.11%
YEAR TO DATE
– 15.66%
*AS AT LAST FRIDAY
3-MONTH
10%
MONTH-TO-DATE
0.41%
Expert Proffers Ways to Firm-up Naira, Hails CBN on Managed-float Regime James Emejo in Abuja The Chief Executive, Globa Analytics Company Limited, Dr. Tope Fashua, has said agriculture remained a veritable tool for strengthening the local currency. He said the sector has the potentials to generate the muchneeded funds to make the country’s reserves much stronger. But he also pointed out that the value of the Naira was tied to
patriotism and nationalism stressing that, “a lot of the value of your currency is made up of perception actually - what do people think about the currency? If those who hold the currency don’t have confidence that currency is in trouble.” He said the local currency remained an embodiment of the people as well as fundamental to the economy, pointing out that the US Dollar is strong partly because it is protected from losing its value.
According to him, one of the ways to boost the local currency was to stimulate investments in agricultural value chains both for self-sufficiency and exports to earn foreign exchange. He further stressed the need to protect the local currency at all cost as well as increase demand for its usage internationally. Fashua, who said he had never seen a single transaction done in naira in international trade argued
that the, “more the demand created for a currency the stronger it gets.” Delivering a paper titled, “The Agricultural Sector in Nigeria: Survival, Food Security and a Key Buffer for the Naira,” at the just concluded 32nd CBN Seminar for Finance Correspondents & Business Editors, themed: “Exchange Rate Management and Economic Diversification in Nigeria: The Produce, Add Value and Export (PAVE) Option,” Fashua said
agriculture remained critical to resolving the country’s foreign exchange challenges. He said the sector was fundamental to human existence adding that part of the current problems with the foreign exchange segment had a direct correlation with the defects in the agricultural value chain and, “not only with the Naira.” He said often, inadequate agricultural production would lead to hunger and malnutrition, which
will in turn spur social upheavals. He stressed that such social upheavals are disincentives for Foreign Direct Investments (FDIs) required to beef up the country’s dollar stock. Fashua, however, commended the central bank for its numerous interventions in the sector, particularly the Anchor Borrowers Programme (ABP) which had helped reduce the Continued on page 22
UNVEILING APM TERMINALS SMART OFFICE BUILDING…
L-R: Country Managing Director, APM Terminals Apapa, Mr Klaus Laursen; Deputy Comptroller of Customs, Apapa Area Command, A.Y. Odusanya; Port Manager, Apapa Port, Mrs Olufunmilayo Olotu; Customs Comptroller Queen Ogbudu; representative of the Managing Director, Nigerian Ports Authority, Mr Ayo Durowaiye and Director, Regulatory Services, Nigerian Shippers Council, Mrs Ifeoma Ezedinma at the grand opening of APM Terminals Apapa new multimillion naira smart office building in Apapa, Lagos… Tuesday
CBN Announces Guidelines to Regulate Credit Guarantee Companies, Sets N10bn as Minimum Capital Nume Ekeghe In a bid to enhance credit to Micro, Small and Medium Enterprises (MSMEs), the Central Bank of Nigeria (CBN), has announced new guideline for regulation and supervision of credit guarantee companies in Nigeria. The apex bank also announced
a minimum share capital of N10 billion, a non-refundable application fee of N100,000 and a non-refundable licensing fee of N1 million among other requirements for registration of an institution to function as a Credit Guarantee Company. CBN disclosed this in a circular published on its official website yesterday.
The CBN in the circular signed by its Director, Financial Policy and Regulatory Department, CBN, Muhammad Hamisu Musa, stated: “Micro, Small and Medium Enterprises (MSMEs) face difficulties accessing credit from the formal sector in developing countries. In Nigeria, the credit markets for MSMEs is characterized by market
imperfections, collateral constraints, information asymmetry, low profit margins, among others. These factors have limited MSMEs’ access to credit due to their perceived high risk and where credit is granted, it is often on unfavorable terms. “Credit Guarantee Schemes have been widely considered as one of the means of addressing the challenge of
limited access to credit by MSMEs. This consideration stems from the attractive features of a guarantee as collateral, which include safety, liquidity and freedom from the problems associated with tangible collateral, such as obsolescence, depreciation, verification, perfection and foreclosure.” It added that Credit Guarantee
Companies are expected to provide third-party credit risk mitigation to lenders through the absorption of a portion of the lender’s losses on the loans made to Nigeria-based MSMEs in case of default. A guarantee issued by a CGC represents a legal commitment to Continued on page 22
M A R K E T D ATA A S AT T U E S D AY, M A R C H 2 9 , 2 0 2 2 BILLS
BONDS DESCRIPTION 12.75 27-APR2023 14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027
Price
Yield
108.73 4.45 111.47 7.80 111.39 9.10 107.26 10.15 123.05 10.26
Change Updated Time (%) 25, -0.02 March 2022 25, -0.01 March 2022 March 25, 0.00 2022 March 25, 0.00 2022 March 25, 0.00 2022
OTC F X F U T U R E S
C Ps
MATURITY
Discount
Yield Change Updated Time (%)
NTB 28-Apr22 NTB 12May-22 NTB 9-Jun22 NTB 14-Jul22
3.07
3.08
0.00
March 25, 2022
3.13
3.14
0.00
March 25, 2022
1.88
1.89
0.00
March 25, 2022
2.88
2.91
0.00
March 25, 2022
NTB 11Aug-22
3.18
3.22
-0.49
March 25, 2022
MATURITY
Discount Yield
Change Updated Time (%)
UNCP CP VI 2-MAY-22 NEVE CP I 24-MAY-22 DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22
8.77
8.85
0.00
March 24, 2022
16.12
16.55 0.00
March 24, 2022
8.37
8.48
0.00
March 24, 2022
10.88
11.29 -0.01
March 24, 2022
7.54
7.75
March 24, 2022
-0.01
CONTRACT TENOR Contract (MONTH) NGUS MAR 30 1 2022 NGUS APR 27 2 2022 NGUS MAY 25 3 2022 NGUS JUN 29 4 2022 NGUS JUL 27 5 2022
Current Rate ($/₦)
Updated Time
427.24
March 25, 2022
428.93
March 25, 2022
430.63
March 25, 2022
432.32
March 25, 2022
434.02
March 25, 2022
22
WEDNESDAY, MARCH 30, 2022 ˾ T H I S D AY
BUSINESSWORLD
ECONOMY
Ekechukwu: We Talk Diversification M o r e T h a n We Ta k e A c t i o n s
The Managing Director/Chief Executive, Dignity Finance and Investment Limited, Dr. Chijioke Ekechukwu, in this interview with James Emejo, said the government had been paying more of lip service to the quest for economic diversification, expressing worry that despite contributing significantly to GDP, government is still unable to derive enough revenues from the non-oil sector. He also spoke about the failure of leadership in the country’s energy sector and the need for Nigerians to embrace agricultural exports and entrepreneurship among others. Let’s start with the implication of the Russian - Ukrainian conflict, what impact does it have on the Nigerian economy? e are in a global village and anything that happens to a particular continent affects economic activities of countries in other continents. And that’s how we have all been in one loop. Having said this, the impact of the war between Ukraine and Russia has affected the economic activities of the entire world. Russia is a major oil supplier- of course, when you hear OPEC+ (OPEC Plus), it is Russia and other countries – and because Russia is major oil and gas producing country and Ukraine is also major producer of gas, iron and steel and many other mineral resources that they have - the conflict has actually affected the supply of oil and gas in the whole world and it has affected the price. Of course, today we have seen a jump in oil price from when it was around $70 per barrel to what it is right now just because of the armed conflict between both countries. The implication of this to us as a country is the fact that, as you already know, we are not benefitting from this. If we were not subsidizing oil price, we will obviously have benefitted because as the price of oil increased, yes, we will get a lot of revenue from it but that revenue is also going to be paid out as subsidy payment to other importers of oil. The implication again is the fact that because we are not refining our oil within the country, it is difficult for us to have any benefits arising from this. If we were refining our own oil, the country would have been getting a lot of revenue from this increase in the price of oil. Of course, revenue is coming but we are also using it to pay the importers of these petroleum products. That is just the implications for us, which is not a good one. Every other oil-producing country is smiling to the bank right now, smiling when it comes to their revenue base, and foreign reserves but Nigeria is not because we are paying exactly what we are getting to the importers of oil. We cannot emphasize the importance of making our refineries work and I have always asked questions: how come we have had this problem of refineries for about two decades now and nobody has said any single thing, nobody has said anything that can improve our situation – not until recently we have had a refinery coming from a private sector player; what has happened to our refineries and what were the problems that cannot be resolved? Have we had anybody punished in the past for not having these refineries work? The fact that we have been pumping so much money into turn-around maintenance and the turn-around maintenance would just come and go without results. Nigerians actually deserve to know what has happened and why it that our refineries are not working? But if it is an individual or a refinery belonging to the private sector it will work. What is the problem and how have we been voting monies into these refineries, year in, year out and no outcome without positive outcome and no one has been arrested, nobody has been made to pay back the amounts collected and no contractor has been questioned on why his turn-around maintenance didn’t work. Should we continue like this as a
private sector parties who are not bringing the proceeds to the government. So each time we hear our system talk about revenue shortfall, I wonder whether we are actually optimising all the revenue potential that we have had in this country. The ball is also in the court of the government to throw these opportunities open either to the private sector or harmonise them in order to derive potentials in these areas.
W
Ekechukwu country and how come people are not asking questions? Those are the questions we need to ask and those are the answers we expect from the players in this area. Nigeria is said to have enormous gas resources, which are yet to be fully explored. Don’t you think this is long overdue? It is really unfortunate that the potential we have had...if today you call something potential, we expect that in the next five to 10 years that potential would be converted into actual production or opportunity. Gas production has remained a potential in the last 50 years. We call it potential. We have been flaring gas for many years and I know I listened to the managing director of one of the leading oil-producing companies that said any day the leadership of this country considered it necessary for gas flaring to reduce, it will happen. The fact is that we have not had any commitment from the leadership of the country to actually stop flaring gas or pipe the gas to other countries that would buy them. Of course, we know LNG is doing something in that regard now but we could just have relied on the gas we have today to turn -around the revenue base of this country but we are not doing that. And that is one area any serious leadership should be looking at to see that we have all the potential we have to convert all these potential to actual productivity in order to build our revenue base. We have opportunities to build our revenue base but we don’t utilise them, unfortunately. We also have opportunities in the solid minerals sector yet we are not utilising them to build our revenue base. It is not as if we are not mining these solid minerals - but they are being mined by individuals and
Post-COVID, the Nigerian economy has continued to show resilience as demonstrated in the latest GDP numbers. Can we comfortably expect smooth sailing going forward? Well, it’s not yet uhuru because the growth you have seen in the Nigerian economy is what we have also seen in other parts of the world. Post COVID-19 global growth was a surprise to even the World Bank and IMF to say they did not expect this kind of growth after the pandemic. Having said that, you know when you are performing and you think you are performing well - but you could actually have done far better than you think you are doing if you could include all the possibilities that exist within your strength. So I do not think it is uhuru yet but if we sustain what we are doing right now: don’t forget that this growth is also because the oil price has gone up. If we continue this way, yes, it is expected that we are going to do well but the good news is that the government said only 35 per cent of revenue base is expected from oil, the other 65 per cent they expect to get from the non-oil sector. That’s good news because it is the first time we are hearing that. Before now, 90 per cent revenue will come from the oil sector and just 10 per cent from the non-oil sector. And it is also a thing for us to ponder because the non-oil sector has been contributing 70 per cent to GDP yet we are not getting the revenue from that sector. The true picture is the fact that we are making efforts towards diversification but we have not started getting the results of that diversification. Of course, the revenue base we are expecting to grow is actually going to be coming from the tax net that we have increased and not that sectors are beginning to bring in revenue for the government. So you see that the non-oil sector is contributing a lot to the GDP of the country but the government on its own is not getting enough revenue from that area. So some of the things that need to be done are that the efficiency of tax collection must be increase and the government would also need revenues coming from revenue generating MDAs and ensure that they are accounted for. The government should ensure that the various MDAs are accountable – because nobody is monitoring them. MDAs should be more accountable for the revenues they generate. Also, we are not getting enough revenues from tourism compared to other countries like the United Arab Emirates, which have so much money coming from tourism - and even in many other countries that we know in Africa. Let us also see that we have a lot of
potential coming from that area even if it means the government building certain tourism destinations and then privatising or provide a level playing ground for the private sector to develop tourism. You also know we used to generate a lot of revenues from our shipping lines which do no longer exist today, from our airlines which do no longer exist today. Kenya and Ethiopia are making a lot of revenue from aviation - which we have also lost because we didn’t develop those sectors. We need to look at sectors of our economy that can actually generate revenue and take them seriously, one at a time, and make sure that government can generate more revenue from the non-oil sector. Until we get to that point, we can then say we are fully diversified. We are talking about diversification far more than we are taking the actions. Recently, the Central Bank of Nigeria (CBN) launched an incentive scheme to encourage foreign exchange repatriation, especially for export activities. How well do you think this would support the economy? Yes, such incentives have been seen to be working. But I have often mentioned that I have not seen enough incentives for export business. The incentives should come in various dimensions to the extent that while exporters should be able to get these kinds of incentives for sending their products out, the major incentive for exporters right now is the exchange rate. The higher the exchange rate, the higher the incentive for an exporter. So, I encourage all Nigerians to stop importation. Right now with the exchange rate we have, every importer should actually become an exporter. So the question they should ask themselves is what is that thing to export? Let us all become exporters; by the time we all became exporters and the exchange rate is an incentive for them: when you export something and you get foreign exchange, you exchange for very high value for your Naira money. The next incentive is the one the CBN has introduced which is to give them monetary benefits. Having said this, the level playing ground for exportation has to come in. The ease of doing business has to be re-addressed and reassessed all the time. Now, when we announce it and keep talking about it and we are not interrogating how well it is doing, then we haven’t done well. We have some agricultural products that are needed all over the world: we are doing well in cotton, sesame seed and all of them but have we particularly noted the problems that exporters of these products are going through? On this issue about exports, there needs to be constant training for the exporters: let them know the mistakes they are making; let them know what is acceptable in the international market, and what standards would make their products acceptable. Many exporters today get their products out of the country and they are rejected there or they are priced very low. So we need to continue to have training programmes for all exporters and in fact, potential exporters so that people would know what to do in order to have good pricing for the products they export. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
CBN ANNOUNCES GUIDELINES TO REGULATE CREDIT GUARANTEE COMPANIES, SETS N10BN AS MINIMUM CAPITAL discharge an agreed portion of the liability of a borrower in the case of default. On capital adequacy ratio, it added that CGC shall be measured as the percentage of its shareholders’ funds unimpaired by losses to its total
risk weighted assets. “The minimum Capital Adequacy Ratio (Qualifying Capital/Total Risk Weighted Assets) for CGCs shall be 10 per cent or as may be prescribed by the CBN from time to time. “Capital measurement approach
for CGCs shall be as prescribed by the CBN from time to time. A CGC shall, at all times, maintain the minimum capital adequacy ratio, ”the CBN said. It added, “The CBN may require a CGC to maintain additional
capital as the CBN considers appropriate in respect of other specific risks. Where a CGC fails to meet the minimum Capital Adequacy Ratio, the CGC shall be prohibited from any or all of the following until the required ratio
is restored: undertaking further investment; payment of dividend to shareholders; opening additional branch(es); and any other action as may be determined by the CBN. “In addition, the CGC shall be required to submit, within a
specified period, a recapitalization plan acceptable to the CBN. Failure to comply with the above shall constitute grounds for the revocation of the operating licence of the CGC or such other penalties as may be deemed appropriate.”
He said, “When you fix your currency and say you are going to defend currency at a certain rate. What happens is that speculators move against you, they move against your reserves and they will ensure that you empty your
reserves and that means you have to drop that rate and that means they have shorted your currency. And when short your currency that means you are selling that currency and moving it to a stronger currency.”
EXPERT PROFFERS WAYS TO FIRM-UP NAIRA, HAILS CBN ON MANAGED-FLOAT REGIME undue pressure on food import bills and the external reserves. He further urged the CBN to expand the list of items to be restricted from official forex in the interest of the economy and to boost domestic production for exports.
He also hailed the introduction of the CBN digital currency otherwise known as the eNaira to counter the threats posed by cryptocurrency, which seeks deregulate banking and financial services to the detriment of the economy in general.
According to him, cryptocurrency had the potential to weaken the Naira and served as an invitation anarchy, “because by the time they take out the central bank, where will government get their taxes from? Government gets their taxes through
the financial system.” He praised the decision of the CBN to adopt a managed-floating regime on forex management adding that free-floating the currency would have wreaked untold havoc on the economy.
123
T H I S D AY WEDNESDAY MARCH 30, 2022 Wednesday 30 March, 2022 Vol 27. No 9850 TR
GEOMETRIC: BEWARE OF THE IDES OF MARCH OTOABASI AKPANTAH argues that Geometric Power costs are excessive See page 24 CHINELO’S DEATH AND OURS AROUND THE CORNER The death of Chinelo Nwando is another reminder that nowhere is safe in Nigeria, writes FRANCIS IKUEROWO See page 25 PETER OBI’S ORCHESTRA OF ODDITIES KENE OBIEZU writes that the former Anambra State governor is a perfect fit for the times See page 25 EDITORIAL DEREGISTRATION OF POLITICAL PARTIES See page 26
& RE A S O
N
opinion@thisdaylive.com
www.thisdaylive.com
BUNI GOES BACK TO DAMATURU Yobe governor returns home with presidential applause, writes AHMED ABU See page 24
UT H
Even if Africans are elected to the various organs of the ITU, their contributions may remain at the policy level, writes SONNY ARAGBA-AKPORE
WHY AFRICA REMAINS ON THE OUTSKIRTS OF ICT ADMINISTRATION Despite the posturing of African countries of their exploits of membership of the International Telecommunications Union (ITU), the grim realities are that African nations still remain on the outskirts of global ICT administration. Only three Africans have made it to the ITU executive administrative cadre in the last 50 years. These are Mohammed Ezzedine (Tunisia) as Secretary General (January 1,1974-December 31,1982), Dr.Henry Chasia (Kenya) Deputy Secretary General (1995-1999), and Dr..Hamadoun Toure (Mali) from January 1,2007-December 31,2014). Toure’s successor, Mr. Houlin Zhao (China) Secretary General since January 1, 2015 hands over later this year after the ITU plenipotentiary conference in Bucharest, Romania, September 26 to October 14, 2022 . But strangely no African is on the list of those jostling for the top executive positions at the elections that will be determined by 193 member states. The Secretary General is the Chief Executive of the ITU and the position is being contested for by a candidate from the Americas region represented by an American, while Eastern Europe and Northern Asia region has a Russian as a contestant. Deputy Secretary General has two contestants too. They are from Lithuania and South Korea. The other three top positions are Director of Radio Communication Bureau with a lone contestant from Uruguay. The Director of Telecommunications Standardization Bureau has two contestants from Japan and Germany. The third, Director of Telecommunications Development Bureau does not have any contestants yet. The position is still opened till August 29, 2022. Next to the executive body is the 12-member Radio Regulation Board and three slots are allotted to Africa for which Ghana, South Africa and Morocco have expressed interests. Two slots are reserved for the Americas region with Canada and Mexico already penciled for the slots while Western Europe has a slot and France has expressed interest. Eastern Europe has three slots for which Azerbaijan, Kazakhstan and Russia are interested. Saudi Arabia, China and Indonesia have expressed interest to represent Asia and Australia on the board. The ITU Council which handles issues as matters arising from the executive and board has 48 members allocated accordingly. Americas (nine),Western Europe (eight), Eastern Europe ÀYH ZKLOH $IULFD DQG $VLD KDYH PHPEHUV each. Africa’s 54-member countries in ITU will jostle for the 13 seats in the election underway. Toure, the last of the Africans as ITU executive ZRUNHG YHU\ KDUG WR IXOÀOO ,78 VXVWDLQDEOH JRDO to take services to the unserved and underserved parts of sub-Sahara Africa side by side with the connecting the world agenda. ,Q VSLWH RI KLV HͿRUWV IRU WKH &RQQHFW $IULFD campaign, the continent still remains behind no thanks to pretentions of the managers.
The ITU said recently that an estimated 37 per cent of the world’s population – or 2.9 billion people – have never used the Internet. Indeed, of the global population without access, 96% are in developing countries and Africa accounts for 71%. New data from the ITU, the United Nations specialized agency for information and communication technologies (ICTs), however reveal strong global growth in Internet use, with the estimated number of people who have used the Internet surging to 4.9 billion in 2021, from an estimated 4.1 billion in 2019. This comes as good news for global GHYHORSPHQW +RZHYHU ,78 GDWD FRQÀUP that the ability to connect remains profoundly unequal. .“And even among the 4.9 billion counted as ‘Internet users’, many hundreds of millions may only get the chance to go online infrequently, via shared devices, or using connectivity speeds that markedly limit the usefulness of their connection. While almost two-thirds of the world’s population is now online, there is a lot more to do to get everyone connected to the Internet,” said ITU Secretary General Houlin Zhao. “ITU will work with all parties to make sure that the building blocks are in place to connect the remaining 2.9 billion. We are determined to ensure no one will be left behind.” The ITU chief also said that the unusually sharp rise in the number of people online suggests that measures taken during the pandemic – such as widespread lockdowns and school closures, combined with people’s need for access to news, government services, health updates, e-commerce and online banking – contributed to a ‘COVID connectivity boost’ that has brought an estimated 782 million additional people online since 2019, an increase of 17 per cent. The 2021 edition of Facts and Figures, ITU’s yearly overview of the state of digital connectivity worldwide, shows the number of Internet users globally growing by more than 10 per cent in WKH ÀUVW \HDU RI WKH SDQGHPLF ² E\ IDU WKH ODUJHVW yearly increase in a decade. Strong growth since 2019 was largely driven by increases in developing countries, where Internet penetration
climbed more than 13 per cent. In the 46 UNdesignated Least Developed Countries (LDCs), the average increase exceeded 20 per cent. “These statistics show great progress towards ITU’s mission to connect the world,” said Doreen Bogdan-Martin, Director of ITU’s Telecommunication Development Bureau, which oversees ITU’s data and analytics work. “But a vast ‘connectivity chasm’ remains in the LDCs, where almost three quarters of people have never connected to the Internet. Women in LDCs are particularly marginalized, with URXJKO\ IRXU RXW RI HYHU\ ÀYH VWLOO RLQH µ Many of these ‘digitally excluded’ face formidable challenges including poverty, illiteracy, limited access to electricity, and lack of digital skills and awareness. “Digital solutions would be needed to reenergize sustainable development and help put countries back on track to meet the UN Sustainable Development Goals (SDGs) for 2030,” Bogdan-Martin added. “Unfortunately, WKH FRPPXQLWLHV LGHQWLÀHG LQ WKH $JHQGD DV most at risk of being left behind are the very same communities now being digitally left behind. These communities are in Africa as part of the LDCs.” The digital gender divide is narrowing globally, but large gaps remain in poorer countries. ITU says, globally, an average of 62 per cent of men use the Internet compared with 57 per cent of women. Although the digital gender divide has been narrowing in all world regions and has been virtually eliminated in the developed world (89 per cent of men and 88 per cent of women online) wide gaps remain in Least Developed Countries (31 per cent of men compared to just 19 per cent of women) and in Landlocked Developing Countries (38 per cent of men compared to 27 per cent of women). The gender divide remains particularly pronounced in Africa (35 per cent of men compared to 24 per cent of women) and the Arab States (68 per cent of men compared to 56 per cent of women). The urban-rural gap, though less severe in developed countries, remains a major challenge for digital connectivity in the rest of the world. Globally, people in urban areas are twice as likely to use the Internet than those in rural areas (76 per cent urban compared to 39 per cent rural). In developed economies, the urbanrural gap appears negligible in terms of Internet usage (with 89 per cent of people in urban areas having used the Internet in the last three months, compared to 85 per cent in rural areas), whereas in developing countries, people in urban areas are twice as likely to use the Internet as those in rural areas (72 per cent urban compared to 34 per cent rural). In the LDCs, urban dwellers are almost four times as likely to use the Internet as people living in rural areas (47 per cent urban compared to 13 per cent rural). A generational gap is evident across all world regions. Aragba-Akpore is a member of THISDAY Editorial Board
2 24
T H I S D AY WEDNESDAY MARCH 30, 2022
Yobe governor returns home with presidential applause, writes AHMED ABU
OTOABASI AKPANTAH argues that Geometric Power costs are excessive
BUNI GOES BACK TO DAMATURU
GEOMETRIC: BEWARE OF THE IDES OF MARCH
national convention that would produce a new leadership that would position the party for electoral exploits in 2023. The president said last Saturday that the Yobe State governor had delivered spectacularly well. He noted that the party had grown phenomenally from 11million to 41 million members with the new entrants including three sitting governors, a deputy governor, senators, members of the House of Representatives and state assemblies, and other key RFLDOV IURP RSSRVLWLRQ SDUWLHV ZKR defected along with millions of their supporters. “I am impressed to learn that the membership registration and revalidation exercise undertaken by the caretaker committee, has recorded over 41 million members,” he said, adding, “This has SURYHG WKDW ZH DUH LQGHHG 1LJHULD·V leading and largest political party. It also exhibits our numerical strength and the potential to win elections at all given times fairly and squarely.” According to Buhari, “The successful conduct of the ward, local, and state congresses, the purchase of the National Secretariat, which was graciously named after me, and the review of the constitution among others, are no doubt tremendous achievements recorded by the Caretaker Extraordinary Convention Planning Committee.” ,W LV VLJQLÀFDQW WKDW WKHVH acknowledgements came directly from the mouth of the president without whose tenacious support the Yobe State JRYHUQRU·V PRPHQWRXV FRQWULEXWLRQV would have been consigned to the dark DJHV RI WKH SDUW\·V KLVWRU\ A couple of weeks before, a contrived leadership crisis had emerged in the caretaker committee. A clique in the SDUW\·V JRYHUQRUV· IRUXP KDG LQ WKH name of the president, announced %XQL·V UHPRYDO DQG KLV UHSODFHPHQW E\ mission, under the leadership of His Sani Bello, the governor of Niger State, Excellency, the Yobe State Governor, Mai accusing him of an attempt to scuttle the Mala Buni, for successfully piloting the convention he had been planning for DͿDLUV RI WKH SDUW\ LQ WKH ODVW PRQWKV about 17 months. The palace coup was hatched at a time and organizing this convention to elect a new National Working Committee Buni was abroad for medicals, leaving that will take over from the Caretaker him with no opportunity to defend himself. Thanks to a fair-minded Buhari Committee,” the president said. Buhari said he was glad that the party who granted him an audience in faraway under Buni had bounced back to life London and listened to his own side of with the reconciliation of several key and the story. Before then, sponsored hack writers had critical stakeholders and groups, who had hitherto left the party or were on the verge ÀOOHG WKH PDLQVWUHDP DQG VRFLDO PHGLD with salacious stories of how Buni had of leaving the party. “The reconciliation process gave the abandoned his state duties in Damaturu aggrieved stakeholders a true sense of and gone to sit down in Abuja to mind the belonging and assurance,” the president SDUW\·V SUREOHPV DW WKH GHWULPHQW RI <REH SHRSOH·V ZHOIDUH said. That he was able to push aside all these Buni had come on board in June 2020 when several court suits and distractions and remained focused on his orders made the position of the former assignments is a testimony to his capacity national chairman, Adams Oshiomhole, to multitask and deliver his mandate in untenable. A succession crisis had spite of the harsh operating environment. Yes, the assignment in Abuja must erupted, consuming the entire national working committee. With that also came have tasked Buni and distracted him a bit an unease that threatened the cohesion of IURP KLV VWDWH GXWLHV EXW ZLWK WKH SDUW\·V the party. job done and dusted he could now Party elders, therefore, turned to the return fully to Damaturu with pride that president and asked him to shun his he had helped to restore his ailing party aloofness and show more interest in its to very good health, an accomplishment DͿDLUV +H VXEVHTXHQWO\ JDYH KLV QRG WR the Yobe people too would, no doubt, be the Yobe State governor to head the rescue proud of. mission of revamping the wobbling $3& %XQL·V WDVN ZDV FOHDU UHFRQFLOH WKH Abu, aggrieved and prepare the ground for a a political analyst, writes from Abuja For Mai Mala Buni, the ever-calm governor of Yobe State, last Saturday must have been a very happy day as he got a massive presidential endorsement for his work for his party, All Progressives Congress, in the last 18 months. Mounting the rostrum at the Eagles Square in Abuja on a day of intense politicking and horse-trading that attended the extra-ordinary convention of the party, President Muhammadu Buhari delivered a speech that acknowledged the achievements of the Buni-led Caretaker Extra-ordinary Convention Planning Committee, commending it for a job well done. “I want to congratulate us all for being part of this history-making event and to especially appreciate the Caretaker Extraordinary Convention Planning Committee, which has been on a rescue
Julius Caesar was killed by his hitherto praise singers and “supporters” including his bosom friend Marcus Junius Brutus. He was stabbed by 60 conspirators and killed at the base of the statue of Pompey the Great in the Roman Senate House in March 44 BC. On March 10, 2022, one of the national dailies published an article written by one Emeka Umegbala for, and on behalf of, himself and some members of a certain International Society for Civil Liberties and Rule of Law titled “Time to Collapse EEDC” - an acronym for Enugu Electricity Distribution Company (Enugu Disco). In the article, the writer disclosed that his JURXS KDV NLFNHG RͿ VXVWDLQHG FDPSDLJQ IRU WKH purpose of collapsing the activities of EEDC for its takeover by Geometric Power, which by his account has spent over $500 million in building four new injection substations, over 140km of high voltage distribution lines, 141 megawatts power plant and 27km of gas pipeline. The article also disclosed that AfriExim bank granted further facility of $50 million to Geometric from which it used $26 million for the acquisition of (('&·V $ED DQG $ULDULD %XVLQHVV 'LVWULFWV ZKLOH the balance $24 million will be used to improve the existing infrastructure and expansion of the Aba - Ariaria network. If the numbers reeled out here are correct, and I do not have any cause to doubt them since Prof Barth Nnaji (former Power Minister and Promoter of Geometric Power) himself and *HRPHWULF 3RZHU KDYH LQ GLͿHUHQW IRUD DQG press statements given out the same numbers from which the writer must have derived his data. ,W LV RQ WKH EDVLV RI WKH TXRWHG ÀJXUHV WKDW WKLV UHG ÁDJ LV EHLQJ UDLVHG EHFDXVH LQGHHG WKH numbers do not add up. Investing a whopping $550 million just to service two business districts that represent barely 10% of the entire EEDC network, valued at $230 million, does not make any business sense. Building 141 megawatt power plant to service two business districts with peak load of barely 40 megawatts is grossly over scoped, LQHFLHQW DQG D UHFLSH IRU GLVDVWHU 7KLV LV HYHQ more worrisome especially considering that the 1,020 megawatt Alaoji NIPP, located in the same precinct as the Geometric power plant, already has stranded 800 megawatts capacity that cannot be evacuated into the grid by TCN because of its poor infrastructure. In other words, 100 megawatts of Geometric power plant cannot be activated nor utilized despite the huge capital already expended. Using standard industry estimates, a 141-megawatt power plant, at $1 million/mw, VKRXOG FRVW DERXW PLOOLRQ NP RI JDV pipeline, at $1 million/km, should cost about PLOOLRQ NP RI +9 OLQHV DW NP VKRXOG FRVW PLOOLRQ ZKLOH WKH IRXU substations should cost no more than $4 million at the average cost of $1 million each bringing the total cost to $176.2 million. Allowing additional costs to cater for consultancy and ancillary FRVWV D FRVW SURÀOH RI PLOOLRQ IRU WKH HQWLUH project would have been quite adequate. Thus spending $500 million on a $200 million project does not indicate prudent assessment of costs and management of resources. The second and probably more pertinent issue is how will Geometric manage this highly geared ÀQDQFLDO H[SRVXUH $VVXPLQJ WKDW LWV SURPRWHUV contributed 30% equity to the $500 million FDSLWDO H[SHQGLWXUH DQG ÀQDQFHG PLOOLRQ over a standard seven year period at about 10% interest per annum, the debt service will amount to $5.8 million per month or $69.7 million per year. These translate to about N2.4 billion per month or N28.9 billion per year assuming an exchange rate of N415 to a dollar. Interest alone amounts to $2.9 million or N1.2 billion per month. Expectedly, Geometric will need about N2.4 billion every month just to service its debt. There is no way Geometric will be able to QHW XS WR 1 ELOOLRQ D PRQWK DIWHU RͿVHWWLQJ LWV
Opex costs including the invoice of the gas supplier, payroll, operations and logistics. So how will Geometric service its facility and have return on its investment? Compare the above scenarios to EEDC in which the investors paid $126 million for the entire network including the Aba-Ariaria business districts from which it has gotten back $26 million from Geometric. From the foregoing, it is obvious that the authors of the said Nigeria Pilot article do not understand the intricacies of business costs DQG ÀQDQFLQJ RWKHUZLVH WKH\ ZRXOG QRW have recommended a highly geared entity with attendant risk of threat of business continuity to take over the business of a lesser geared and more prudent but perhaps OHVV HFLHQW HQWLW\ DOWKRXJK *HRPHWULF·V RSHUDWLRQDO HFLHQF\ LV \HW WR EH WHVWHG LQ WKH ÀHOG The situation indeed calls to question the prudence and management competency of the Geometric team. Spending $500 million for a $200 million project is, at the least, scandalous. Installing upfront a 141 megawatt power SODQW IRU D QHWZRUN WKDW FDQ RQO\ RͿWDNH OHVV than a third of that capacity also questions *HRPHWULF·V XQGHUVWDQGLQJ RI WKH EXVLQHVV WKH\ DUH JRLQJ LQWR D PHJDZDWW SODQW scalable to 141 megawatts as load demand increases, would have been more prudent. It is akin to buying three aircraft of 120 passenger capacities to deploy on a route that has passenger volume of 100 passengers. You will have to either ground two of the DLUFUDIW LQGHÀQLWHO\ ZLWK DWWHQGDQW FRVWV or use the three interchangeably, also with the attendant costs, when you could have deployed only one aircraft initially, and as passenger volume increases you deploy more aircraft. Ideally, the whole Geometric development could have been done with less than $100 million -- $45 million for 45mw power plant, $27 million for the 27km gas pipeline and $8.2 million for the injection substations and NP +9 OLQHV DQG \HW DFKLHYH WKH VDPH FDVK ÁRZ UHVXOWV An informed protagonist would have rather advised Geometric to court EEDC to RͿ WDNH WKH H[FHVV PHJDZDWWV ZKLFK LV probably its only life line to remain at least on life support, as that will improve its cash ÁRZV ZKLOH LW VHHNV RWKHU ZD\V RI PDQDJLQJ LWV KXPRQJRXV GHEW SURÀOH ZKLFK PD\ FRPH crashing on it and inevitably consume it sooner than later. With the right collaboration and support from EEDC, both parties may strike a good V\PELRWLF UHODWLRQVKLS WKDW ZLOO EHQHÀW HDFK other and ultimately the customers. There is a saying in Igbo land that it is the man who holds a mould of eba that goes seeking the man with a bowl of soup because the man with soup could eat his soup and relieve his hunger but the man with the eba will be stuck with his eba as he cannot swallow it without soup. However, if they both team up, they would each have a sumptuous meal. Setting up a party with egg shell skull for a head butt combat with a “Mutiu Adepoju” (then Super Eagles “Headmaster”) can only end in tragedy. History is replete with the Julius Caesar experience. It is the same cheer leaders that are singing the praises and eulogizing Geometric, that will put the knife to its heart when the cookies crumble. Geometric should beware of the Ides of March. Akpantah is a Chartered Accountant and management consultant
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T H I S D AY WEDNESDAY MARCH 30, 2022
The death of Chinelo Nwando is another reminder that nowhere is safe in Nigeria, writes FRANCIS IKUEROWO
CHINELO’S DEATH AND OURS AROUND THE CORNER Dr Chinelo Megafu Nwando’s death, DQG WKDW RI PDQ\ QRW \HW LGHQWLÀHG others in the Kaduna-Abuja train attack by bandits, is another painful reminder that ours is near, or that of someone very close to us. It’s morbid to accept this: that in Nigeria our lives are not our own and living long is just a mirage. If Dr Chinelo had not tweeted about it and asked for prayers, we wouldn’t have truly and personally felt how heartbreaking it was to lose a doctor in her prime. We know Dr Chinelo because she tweeted few hours before her demise. But how many Chinelos do we know? Lawyers, engineers, soldiers, farmers, accountants, teachers, and scores
of ordinary citizens struggling to live in Nigeria that their lives are being cut short almost every day by bandits, unknown gunmen and Boko Haram. Hundreds of people maimed for life by herdsmen. Death of one’s loved one is an agonizing experience, and even more horrifying and excruciating when they are killed by XQLGHQWLÀHG PHQ $QG ZH DUH EHJLQQLQJ to accept this harsh realization that it could happen to us, to anyone. And that Nigeria is no longer safe for anyone. Though we do not have many details about Dr Chinelo’s OLIH ZH FDQ RQO\ SDXVH IRU VRPH ÁHHWLQJ moment to imagine how her friends and families will bear her abrupt death, and the perennial thoughts that they will never see her for good. I get overwhelmed by how our real
It’s morbid to accept this: that in Nigeria our lives are not our own and living long is just a mirage world is a genuine dystopian nightmare but everyone keeps acting like it’s normal. For many following days now, we are going to rant—on Twitter and everywhere—and blame the government and the politicians and how the system has failed us, and after a week, we might most likely forget that the lives of scores of humans (who
have families and friends) are cut short, but we force ourselves to adapt to this ugly experience yet again and take succour in tweets. Are we going to continue living like this? Complain and then resign? When we keep acting as if everything is normal, and that people who died in any attack can only live a few days in our memories to be forever forgotten, then we are gradually losing the humanity in us, and it gets worse to the point where we cannot separate reality from clout-chasing. When Dr Chinelo tweeted that she was shot at and needed prayers, many people disbelieved her. These people, bereft of emotions, are no longer normal beings, yet they still live
in an abnormal society. As Uju Anya wrote, “234 Twitter knows people battling with the nightmare of Nigeria regularly come here for support when injured or in danger. They get hospital rides, send alerts, etc. Dr. Chinelo didn’t deserve the sh*t she got served in her ÀQDO KRXUV 6KH MXVW ZDQWHG WR NQRZ VKH wasn’t alone.” When has tweeting that one got shot at and needed prayers become a form of cloutchasing? This is for us to know that there are many Nigerians who simply exist and roam streets with no modicum of humanity left in them and they only live on Twitter to escape from their reality. As inhumane as these SHRSOH DUH WKH\ DUH LQ D ZD\ QRW GLͿHUHQW from people who read the tweet, feel pains and carry the pains everywhere yet keep acting as if everything is normal. Dr Chinelo’s death is painfully symbolic in a number of ways. Firstly, her death is a morbid reminder that ours is just around the corner. Secondly, that we will keep losing our humanity until we start being proactive rather than merely reacting. Thirdly, her death seems to be reminding us that nowhere is safe in Nigeria; air, water, and land. Lastly, her death, and that of many others, is pushing us to the edge and one day, maybe someday we will VXPPRQ HYHU\ FRXUDJH ZH KDYH WR ÀJKW back, to shout and to cry that we can no longer take it anymore. A revolution it is.
Francis writes from the University of Ibadan
KENE OBIEZU writes that the former Anambra State governor is a perfect fit for the times
PETER OBI’S ORCHESTRA OF ODDITIES Every country that has gone on to become great, and occupy a pride of place in the comity of nations, once navigated a season of national turmoil and trouble. Many countries who have today stagnated or even retrogressed can trace their woes to the heady winds of those stormy days, and just how inept and naïve those they put in charge were at navigating them. For those countries which managed to steady the ship and even sail for safe or even still waters, capable hands came to the rescue; hands made dexterous by big hearts and clear heads. Nigeria`s pirouette of promise was painfully KDOWHG LQ ZKHQ UHQHJDGH PLOLWDU\ RFHUV inebriated by the toxic brew of youth and folly intervened to disrupt the path to Nigeria`s prosperity. A full-blown civil war followed in 1967 and raged with cataclysmic consequences XQWLO 7RGD\ WKH HͿHFWV RI WKDW ZDU continue to reverberate across generations to set the teeth of the Giant of Africa on edge. Nigeria is in its own season of national trouble and turmoil –the Giant of Africa is in the pangs of childbirth, and how it fares would determine if the country produces a master stroke or an eyesore. With the clock ticking ferociously towards the general elections of 2023, a couple of prominent Nigerian politicians have thrown their hats into the ring. Former Anambra State Governor Mr. Peter Obi recently paid a visit to the Anambra State Traditional Rulers Council to inform them of his desire to contest for the presidency. The visit and announcement only served as Mr. Obi`s assent to the growing calls from sections of Nigerians to run for the presidency of the country in 2023. In 2019, Mr. Obi shared the ticket of the Peoples Democratic Party with Mr. Atiku Abubakar who also recently declared his intention to vie for the presidency. They ultimately came up short in 2O19 but in the three years that have followed that electoral defeat, Nigerians have looked back multiple times at what could have been as the APC-led federal government has staggered from one embarrassing failure to another. Mr. Obi`s declaration has whipped many Nigerians into a frenzy, especially those Nigerians, many of them young, who truly desire change, and a halt to their country`s slide into the doldrums. The excitement is not at all misplaced. Mr. Peter Obi is armed with political and performance antecedents that pack a powerful punch. In 2003, after four years during which the ‘light of the nation’ state was cast into spectral darkness by the incompetent administration of Mr. Chinwoke Mbadinuju of the Peoples Democratic Party, weary and wary Anambra voters lined up, and with a vengeance, voted in Mr. Peter Obi of the All Progressives Grand Alliance. But the Peoples Democratic Party would QRW KDYH VROLGLÀHG LWV OHJHQG LI LW GLG QRW know a thing or two about political and judicial abracadabra. Thus Mr. Chris Ngige inexplicably found himself in the Government House in Awka. Mr. Peter Obi, convinced that grand political sorcery was afoot, put all his eggs in one basket when he approached the Nigerian judiciary which had proven itself extremely shifty and unpredictable. It took three years, but in 2006, water burst out of rocks when a groundbreaking judgment
by the Supreme Court swept Mr. Ngige out of RFH EURNH WKH EDFNV RI WKH 3'3 DQG FRYHUHG the face of then president, Mr. Olusegun Obasanjo, with eggs. When in 2007, further political witchery from the powers that be surfaced, Mr. Obi`s cries for justice again drew the descent of the Supreme Court`s gavel. A governor across two tenures between 2006 and 2014, Mr. Obi put in an electric performance which emphasized prudence with public resources such that at the time KH OHIW RFH KH ZDV VDLG WR KDYH OHIW DERXW 1 ELOOLRQ LQ WKH FRͿHUV RI WKH VWDWH ,Q D country where many outgoing governors leave mountains of debts for their successors, that was a remarkable feat. 7RGD\ HYHQ HLJKW \HDUV DIWHU OHDYLQJ RFH Mr. Obi`s sterling performance as governor continues to lampoon the loquacity of those governors who seize every opportunity to loudly lament that they do not have enough funds to develop their states, while doing nothing to slash their spending sprees or shake loose the shiver of spendthrifts they employ. Mr. Peter Obi brings a breath of fresh air LQWR 1LJHULDCV VWXͿ\ KDOOV RI SRZHU +H GRHV not only answer the questions Igbos are asking about their place in Nigeria`s power equation, at 60, he is youthful compared to the septuagenarians who are beginning to IHHO DQG ÁDXQW DQ XQVSRNHQ HQWLWOHPHQW WR Nigeria`s corridors of power. For the ticket of the PDP, Mr. Obi will come up against Mr. Abubakar Atiku who for the sixth time in his political life announced his intention to run. It would be awkward for the supporters of both men who shared a single ticket in 2019 as they would have to support only one of them to wrest power from the clutches of the All Progressives Congress. If the PDP is to succeed in reclaiming the power it lost in utterly unexpected circumstances in 2015, it has to put its house in order and run a tight ship, while putting its best foot forward. In this wise, Mr. Peter Obi is a gem who ticks many boxes. His excellent job as governor of Anambra State, left people impressed by the prudence he showed in handling public resources especially because cutting the cost of governance became the mantra of his administration. keneobiezu@gmail.com
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T H I S D AY WEDNESDAY MARCH 30, 2022
EDITORIAL
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
DEREGISTRATION OF POLITICAL PARTIES The fewer the parties, the better for democratic choice
F
or the second time within a year, the 6XSUHPH &RXUW ODVW ZHHN UHDUPHG the powers of the Independent National Electoral Commission (INEC) to deregister political parties that have no grassroots appeal. We hope the verdict will also compel a change in the polity so that people begin to form political parties based on shared ideals rather than for transactional purposes. There has never been a time more urgent as this for serious political parties that can aggregate ideas on how to solve the problems of Nigeria. Meanwhile, the Supreme Court should save itself time by consolidating the cases from the deregistered parties. Apart from the two now dismissed by the apex court, that of the Youth Party (YP) vs INEC on the same matter is still pending. When in February 2019 INEC deregistered 74 political parties, based on Section 225A of the 1999 Constitution (as amended), its chairman, Mahmood Yakubu, explained that there were 91 political parties before the 2019 general election with another one registered by court order shortly after, making a total of 92 political parties. Unfortunately, many of the political parties are PHUH YHKLFOHV IRU VHHNLQJ SXEOLF RFHV ,QGHHG ZKDW has become clear in Nigeria in recent years is the increasing desperation for power not necessarily to advance public good but rather to target the enormous VSRLOV RI RFH WKDW DUH DWWDFKHG WR SROLWLFDO SRVLWLRQV at all levels of governance. It is this same reason that drives the establishment of political parties that have, for all practical purposes, become business ventures. As we have argued in the past, there is a fundamental reason why the best democracies in the world gravitate around two major parties. Such a choice even among the most enlightened electorate tends to be binary: either apples or oranges. But even under a multi-party arrangement, a maximum upper limit
that is robust enough to accommodate all ideological options, makes more sense than what currently obtains in Nigeria where every politician aspires to have his own party. For democracy to thrive, core belief, national presence, spread of membership and basic infrastructure and not the whims of individuals should guide party registration. The last alteration to the 1999 Constitution in 2018 VSHFLÀFDOO\ HPSRZHUV ,1(& WR GHUHJLVWHU SROLWLFDO parties on the following grounds: Breach of any of the requirements for registration as a political party; failure to win at least 25% of the votes cast in one state of the federation in a presidential election or 25% of the votes cast in one local government area in a governorship election and failure to win at least one ward in a chairmanship election, one seat in the National or State Assembly election or one seat in a councillorship election. None of the 74 deregistered parties could meet that simple requirement. Even if people have the right to form political parties, proliferation is counterproductive to our democracy. Beyond the logistical nightmare of administering elections without creating room for endless litigations that we have witnessed over the \HDUV D ODUJHO\ LOOLWHUDWH HOHFWRUDWH ZLOO ÀQG LW GLFXOW making informed choices in a situation where too many parties and candidates are on the ballot. Besides, these parties are not built around any ideology or interest group and from experience, majority of them QHYHU H[HUW DQ\ UHPDUNDEOH LQÁXHQFH JRRG HQRXJK WR win elections. And they never do. For years, INEC has been burdened with repeat elections that are needless and that trend has only multiplied as the number of political parties and candidates grew. Under what is termed ‘unlawful H[FOXVLRQ· HOHFWLRQV DUH RIWHQ QXOOLÀHG RQ VHYHUDO grounds, including a wrong spelling of names, even if such candidates were electoral no-hopers. The fewer the parties, the better for democratic choice.
For democracy to thrive, core belief, national presence, spread of membership, basic infrastructure, and not the whims of individuals should guide party registration 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 SEND EMAIL: first name.surname@thisdaylive.com
Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 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 (750- 1000 words). They should be sent to opinion@thisdaylive.com along with photograph, email address and phone numbers of the writer.
LETTERS BOLA TINUBU AND 2023 PRESIDENCY It’s no longer news that the national leader of the All Progressives Congress (APC), Senator Asiwaju Bola Ahmed Tinubu has vowed not to leave any stone unturned to actualize his age-long dream of becoming the president of the Federal Republic of Nigeria by 2023. Tinubu, a former governor of Lagos State from 1999 to 2007 has grown his political structures to one of the biggest in modern day Nigeria. 7LQXEX KDV D ÀUP JULS RI WKH VWUXFWXUHV RI VRXWK ZHVW 1LJHULD DV KLV GLVFLSOHV are visible in all the states as governors, heads of agencies, party leaders, among others. The vice president Prof Yemi Osinbajo and several ministers in the Buhari-led federal government are his disciples. Even in the northern part of Nigeria, Tinubu is a household name. If anyone is to be feared as an intimidating force in the 2023 general elections, that person is Asiwaju. So when Tinubu declared his LQWHQWLRQ WR UXQ IRU RFH RI WKH SUHVLGHQW HYHU\RQH NQHZ WKH HDJOH KDV WDNHQ RͿ DQG LW ZLOO GHÀQLWHO\ VRDU YHU\ KLJK However, there are many rivers Mr Tinubu will have to cross. First, many Nigerians especially the younger generation, from all nooks and crannies are calling on the Vice President Yemi Osinbajo, a disciple of Tinubu to contest the 2023 presidential election. Over 10 groups in their thousands have launched their campaign for the vice president to join the presidential race. Their belief is that Prof Osinbajo have credibly carried out his responsibility as vice president to President Buhari and should be allowed to take over. If Osinbajo picks the nomination form, this
ZLOO GHÀQLWHO\ VSOLW WKH 7LQXEX FDPS Another river is that of health. Nigerians are complaining that Tinubu’s health is not as good as needed. The state of health of a president and his age has a lot to do with his ability to govern. 7KHQ FRPHV WKH WKLUG ULYHU ZKLFK LV WKH LVVXH RI PRUDO MXVWLÀFDWLRQ $VLZDMX DQG Osinbajo are from the southwest region of Nigeria. Between 1999 and 2023, the southwest has held sway in the presidency for 16 years. General Matthew Aremu Olusegun Obasanjo was president for eight years and Prof Yemi Osinbajo, SAN has been vice president for another eight years. If the South is agitating for power VKLIW ZKDW PRUDO MXVWLÀFDWLRQ GRHV WKH VRXWKZHVW KDV RQ EHLQJ SDUW RI WKH UHJLRQ of the south to produce the president? The southeast has never produced the president nor the vice, the south south has done it for four years while the southwest has had it for 16 good years. It is often said that he who comes to equity must come with clean hands. If the presidency will be going to the southern part of Nigeria on the basis of zoning, Bola Ahmed Tinubu should rather be seen as the projector -in- chief of fair play. The failure of Tinubu to speak for other regions of the south such as the southeast WKDW KDV QRW EHQHÀWWHG IURP WKH SUHVLGHQF\ VLQFH WKH UHWXUQ RI GHPRFUDF\ ZLOO make him appear to be a self -centered person. Martin Iorsamber, Convener, Movement for Advancement and Peaceful Nigeria
NOT ACTUALLY FUNNY Hasn’t the last month in Ukraine, the last centuries around the world and now the last day in Hollywood been enough to tell us that violence, physical, emotional or verbal the wrong answer to any question? The world needs peace so that we can all sit down and solve the real problems of climate change, poverty, pandemics … and the list goes on. A better solution to the humor? of Kid Rock would have been a simple on-stage statement from Will Smith, “My Wife has a medical issue, alopecia or hair loss. Any jokes based on a person’s medical concerns or appearance are not a source of humor nor was it actually funny. Please show respect to everyone” and not take a cheap laugh. Now we are always going to associate a great actor with an act of violence rather than the enjoyment we have had from his shows and movies. Bring peace to the world, now! Dennis Fitzgerald, Melbourne, Australia
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WEDNESDAY, MARCH 30, 2022 ˾ T H I S D AY
BUSINESSWORLD
PERSPECTIVE
Between Buhari and Nigeria’s Local Direct Investors; the BUA Example Bisi Daniels
I
t may not be found in the speeches, but there is something that makes President Muhammadu Buhari readily hop on the plane and sometimes helicopters to commission projects of Nigerian investors. And as the BUA Group sows continuously, including during the famine of hard economic times, it may have endeared itself to many Nigerians, including the President. President Buhari flew to Sokoto to commission BUA Group’s new 3 million metric tonnes per annum cement (Line 4) factory. He later received the management of the Group on a thank-you visit to him at the State House in Abuja. The Sokoto event was his second, having visited in 1985 as the then Head of State to commission the 2nd line of the factory. And last week, he was in the Ibeju-Lekki local government of Lagos State, way off the city centre, to commission the Dangote Refinery. He attends these events personally to “promote enterprise and create employment,” as he says. But sources close to him speak of his great joy in seeing Nigerian investors rise to global heights and contribute significantly to the country’s socio-economic development. One source said, “Mr President’s attendance goes beyond personal relationships, referring to the BUA Group’s events. He recognizes that the Chairman of the BUA Group is a huge ‘national resource’ if you permit me to use that term. He also believes that the massive investments of Nigerians in the economy are as important, if not more, as foreign direct investment. “His ease of business initiative and the support the Central Bank of Nigeria gives Nigerian investors, which they readily acknowledge at the commissioning of completed project speak of his love.” Investments could be foreign, significantly through Foreign Direct Investment (FDI), but Nigeria has a good share of Local Direct Investment.
BETWEEN FDI AND LDI
Foreign Direct Investment, on which developing countries heavily depend, has many advantages, including: r 4UJNVMBUJPO PG FDPOPNJD EFWFMPQNFOU BOE UIF BWPJEBODF of obstacles in international trade, since the presence of the investors in various countries, removes trade barriers such as tariffs. r '%* DSFBUFT OFX KPCT BOE NPSF PQQPSUVOJUJFT BT JOWFTUPST build new companies in foreign countries. This leads to an increase in income and more purchasing power for locals, leading to an overall boost in targeted economies. r 5IF EFWFMPQNFOU PG IVNBO DBQJUBM SFTPVSDFT JT B CJH
advantage of FDI. The skills gained by the workforce through training increase the overall education and human capital within a country. Countries with FDI benefit by developing their human resources. r "MTP GPSFJHO EJSFDU JOWFTUNFOU BMMPXT GPS SFTPVSDF transfers and the exchange of knowledge, technologies, and skills. r 'PSFJHO EJSFDU JOWFTUNFOU JODSFBTFT UIF UBSHFU DPVOUSZ T income. With more jobs and higher wages, the national income rises typically and promotes economic growth. However, the big LDIs provide many of these benefits, and most importantly the confidence their foreign counterparts need to come. LDIs, as exemplified by the BUA Group, sow (invest) continuously in and out of season, including the famine of difficult economic times as was witnessed during the difficult economic season caused by the COVID-19 pandemic. Also, as is evident in the Nigerian stock market, where the big LDIs are major players, they are growth engines of capital markets. Speaking at the inauguration of the Sokoto plant, President Buhari, who described it as the largest privatesector employer of labour in North-west Nigeria, pledged that his administration would continue to support serious investors to set up businesses that will take advantage of huge reserves of resources in different parts of the country. ”As you all know, one of the key economic pillars of our administration has been to create an enabling environment for businesses to thrive. This is necessary for job creation and indeed, for our economy and national security. Confirming his love for LDIs, he said “In the past few weeks, I visited Ogun and Kaduna States where I observed many private sector investments in action. And today, I am here in Sokoto to commission this multi-billion naira project.” The President thanked the Founder of BUA Cement, Abdul Samad Rabiu, and the entire team for the great work in supporting the government’s economic diversification and job creation agenda. He noted that the company, which has completed four new cement plants of similar capacity in the last five years in different parts of the country, is set to complete two more plants soon, had shown through these investments that they believe in Nigeria and its potential. The history of Rabiu’s investments confirms the President’s observation. Since its birth as BUA International Limited in 1988 for the sole purpose of commodity trading,
BUA, like the octopus, continues to spread its tentacles to key sectors of the economy, leaving indelible footprints. Speaking at the Sokoto event, Rabiu commended the President for creating the enabling environment for businesses to thrive and acknowledged the support of the Central Bank of Nigeria (CBN) in setting up the gigantic project. He pledged that BUA would continue to invest more in the cement industry until Nigeria is self-sufficient and the commodity is made available, accessible, and affordable for all Nigerians. He said, “In the past 6 years, we have completed 4 plants – two in Obu, Edo State and two in Sokoto (of which this Sokoto line 4 is the fourth) with BUA’s total production capacity now standing at 11.5million tonnes with the completion of this plant. ”Next year, we intend to complete the construction of two new plants of 3 million metric tonnes each for which construction is ongoing – one in Edo and the other, here in Sokoto.” He added that he looked forward to President Buhari commissioning these plants next year, bringing total production capacity to 17.5million metric tonnes.
THE INDUSTRIAL OCTOPUS
Set for continuous growth, the BUA Group recently listed a consolidated entity to be known as BUA Foods – a combination of its five food businesses comprising pasta, edible oil, sugar, rice and flour – on the Nigerian Exchange Limited in Lagos. According to Samad Rabiu the food business “is a huge business with a lot of impact, especially the plantation that we have in Kwara State, because that is a 20,000-hectare project.” The group expects to begin production of around 200,000 tons of white fortified premium quality sugar in the year ahead. BUA’s Lagos and Port Harcourt sugar refineries have a combined production capacity of over 1.5 million tons per annum. The Port-Harcourt plant is an export-based refinery with the West African region as its target market. Rabiu told CNBC news that an expansion project in flour milling and pasta would be delivered in Port Harcourt by mid-2022. Currently, at 576,000 tons of flour milling and 250,000 tons of pasta, the Group’s combined capacity for both products is anticipated to increase to 1.4 million tons come next June. The BUA Group, formed in 1988, is now one of
Nigeria’s most important diversified groups, active in food (sugar and oil) and infrastructures (cement, ports, real estate).
PHILANTHROPY
An essential feature of LDIs is their enormous appetite for philanthropy and spontaneous giving back to host communities and beyond. Rabiu, described by one of his beneficiaries as a man with a large heart, is one of Nigeria’s notable givers. He provides direct succour to individuals and contributes to host communities’ socio-economic development. Taking philanthropy higher and wider, in 2021 he launched the Abdul Samad Rabiu Africa Initiative “to unlock sustainable development opportunities in Africa, by Africans, for Africans that would cater for various interventions in education, health and social development.” The initiative started with a $100 million annual funding for Africa’s social development and renewal – $50 million dedicated to Nigeria yearly, while $50 million goes to the rest of Africa. Already, the ASR has made large donations to health and educational institutions across the country; and has gone as far as Ghana, where ASR awarded a $3 million education infrastructure support grant to the Ghanaian government through its Ministry of Education to eradicate ‘schools under trees’ whilst developing primary education infrastructure across the country. Last year, President Macron hosted him in his office in the Élysée Presidential Palace to recognise his numerous contributions to humankind. They discussed strengthening economic and business ties between France and Nigeria to foster business growth between Africa and France. He looked forward to BUA Group being one of the African businesses leading that charge. And Rabiu became the inaugural President of the French Nigeria Business Council, a private sector initiative to facilitate business cooperation between both countries, which was launched on the margins of the Choose France summit at Versailles. Other Nigerian members of the council are Gilbert Chagoury (Chagoury Group), Mike Adenuga (Globacom/Conoil), Aliko Dangote (Dangote Industries), Tony Elumelu (Heirs Holdings/ UBA/TEF), and Herbert Wigwe (Access Bank). Also on the council are more than a dozen CEOS from some of the biggest French companies, including TotalEnergies, Axens, Danone, and Dassault. On what fuels his passion for local investment and philanthropy, Rabiu told QUICKREAD over the weekend, “It is confidence and belief in my country, and love for people generally.” t #JTJ %BOJFMT KPVSOBMJTU BOE BVUIPS CBTFE JO -BHPT
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WEDNESDAY, MARCH 30, 2022 ˾ T H I S D AY
BUSINESSWORLD
PERSPECTIVE
FAAC: A Nation on Perpetual Life Support Okey Nwachukwu
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he media enjoys highlighting huge monetary figures, in whatever guise it may come or the purpose. For the typical Business Editor, seeing figures in multiple digits automatically elicits interest, and enhances the likelihood of being well placed. The headlines are particularly teasing when the numbers are derived from questionable or criminal activities. Can you image such captions as ‘NNPC denies transferring N150 billion to Buhari’s in-law’s account at Access Bank’, ‘NCC fines telcos N900 billion for infractions in August’, ‘EFCC discovers N210 billion in ex-governor’s uncompleted building’, ‘Fisticuffs as FAAC shares N667 billion among FG and states in July’, ‘Nigeria loses $2 billion (N13trillion) to gas flaring in one year’, GTB posts N5 trillion as pretax profit in Q3, ‘Covid 19: Adenuga drops from world billionaires’ club,’ and Lagos state generates N3 trillion as IGR in October’. Such is the power of monetary figures, which are sensationalized to meet public craving for outlandish figures and drama. Over a long period of time, certain stats have become standard deliverables by the Nigerian media. Amongst these include data on Nigeria’s inflationary trends, funds shared by the various tiers of government, the number of deaths caused by covid 19, number of ships expected at Nigeria’s seaports, amount spent on fuel subsidy, revenue generated by the Federal Inland Revenue Service and Nigeria Customs Service, the price of petrol, Nigeria’s burgeoning debt profile, the number of out-of-school children, surging poverty levels and unemployment rate, among others. One of these activities is controlled by a body that many Nigerians, especially in the private sector, are ignorant about, but is taken seriously by the three tiers of government in the country. It is formatted as a monthly meeting attended by specific officials of states, local governments and the federal government where hundreds of billions of naira are distributed. It is called the Federation Account Allocation Committee (FAAC), consisting of the Commissioners of Finance and Accountant Generals of the 36 states, FCT, local governments and the Federal Government. Specifically, FAAC is made up of the Federal Minister of Finance as chairman; the Commissioner for Finance of each State in the Federation; two persons to be appointed by the President; and the Accountant-General
of the Federation. The Permanent Secretary of the Federal Ministry of Finance or such officer as may be designated by the Finance Minister shall be the Secretary to the Committee. FAAC is one of several bodies specifically created to give expression to Nigeria’s federal structure. Another body, the Federal Character Commission (FCC), specifically ensures compliance with this political arrangement. As it were, the mission of FAAC is simple: to agree on how much would be disbursed among the various levels of government for a given month. The funds to be shared are the totality of centrally-generated revenue, notably proceeds from crude oil sales and taxes. The monies are paid into the Federation Account domiciled at the Central Bank of Nigeria (CBN). The working of FAAC is such that the component states and Federal Government make a case for what should be allocated to them based on certain metrics and the national revenue sharing formula. Under this formula, the Federal Government gets 52.68 per cent, the 36 states share 26.72 per cent, while the 774 local government areas share 20.60 per cent every month. A new revenue sharing formula is in the works. So, every month, a crop of well-dressed public servants converge to share funds, like bank robbers sharing their loot. The committee’s sessions are keenly monitored from state capitals and Abuja for obvious reasons. Both the Federal Government and all the 36 states lack the capacity to independently generate funds with which to run their affairs, hence the free allocation offers an existential lifeline. The meeting occasionally runs into a deadlock for one reason or another. The Federal Government, acting through the state oil behemoth, the Nigerian National Petroleum Company Limited (NNPC), often becomes the butt of accusation by states for attempts to shortchange them. They claim that the NNPC often unilaterally makes deductions from its revenue for other purposes before remitting funds to the FAAC for disbursement. Instructively, majority of the states are plunged into recession once there is a delay or disagreement in disbursing the FAAC funds. Such delays result in stagnated payment of wages to workers, which in turn trigger endless labour unrests across the land. The Nigeria Extractive Industries Transparency
Initiative (NEITI) was emphatic in one of its reports that ‘no state in the country can finance its annual budget with its internally generated revenue and resources received from the Federation Accounts Allocation Committee (FAAC).’ The VAT, a major revenue source for the country, is currently at the centre of contention over its collection and control. Rivers and Lagos states, on one hand, and the FIRS, on the other, are in court over the tax. The bigger challenge, over which public officials feign ignorance or are deliberately overlooking, is the gradual transition of the global economy to renewable energy. Most countries, on which Nigeria depends for substantial part of its oil exports, have begun setting targets for a total switch to green energy. Oil majors, who drill and market our petroleum, have set similar goals. Royal Dutch Shell, for example, one report said, has entered into talks with the Nigerian government to redirect its focus from onshore production to offshore operations due to oil theft, sabotage, and oil spillage. It has also begun offloading some of its operations in the country. Other supermajors, TotalEnergies, BP, Chevron and ExxonMobil have reportedly reduced their operations in Nigeria as part of their plans to go green. Oil sales have also been plummeting due to a variety of factors. “In May (2021), Nigeria’s oil output hit a record low following an average first-quarter output of just over 1.4 million barrels per day, which caused oil revenues to slump by 98 percent in April. This low output is owing partly to OPEC+ cuts at the beginning of the year, but this is not the only challenge”, one report said. Rather than begin to strategize on how the country can adjust to this inevitability through diversification, public officials are promoting the hope that oil would remain in substantial demand up to 2045. So, what happens after 2045? The fact that the country is currently having challenges in selling its oil does not prompt concern in the appropriate quarters as if they have forgotten how coal became redundant after the world switched to fossil fuel. The beggarly condition of the country is partly traceable to Nigeria’s political structure, in which the federation has increasingly taken a unitary structure, with enormous powers amassed at
the center, and exploited by occupants of Aso Rock to pursue regional and ethnic interests. The states have unwittingly become mere geographical expressions to reflect the trumpeted federation. This situation underscores the trenchant clamour for restructuring in the South West, and succession in the South East, both of which are fiercely opposed by the core north. The country expectedly exists in perpetual turbulence and at the cusp of collapse. This scary scenario became accentuated from 2015 as the incumbent administration brazenly deactivated provisions of federal character and concentrated key appointments in the hands of people from the northern region. Other arms of government were similarly emasculated as the country morphed into a pseudo-autocracy characterized by extreme nepotism and tribalism. FAAC and other contrivances represent the failure of leadership and underdevelopment, which amplifies Nigeria’s lack of political engineering acumen to create an equitable system that enables the people harness whatever potential they have to develop themselves and resources at their own pace. The cap-in-hand conundrum does not just magnify laziness and dependence; it has proven unhelpful in building a just and competitive society. Noteworthy is that in determining the occupant of the office of President, the federal character or zoning is jettisoned in favour of a free-wheeling approach characterized by conspiracies, regionalism, tribalism and fraud, all of which continue to sustain an unjust nation. Meritocracy never comes into play. Since the sharing proceeds from crude oil revenue appears to be the only thing binding Nigeria together, its evaporation will naturally precipitate its disintegration. FAAC and FCC and other contraptions that currently sustain perpetual inequity and underdevelopment will naturally become extinct. t/XBDIVLXV DBO CF SFBDIFE WJB JOGPSNPLFZOPX!ZBIPP DPN (08023039360)
THURSDAY MARCH 30, 2022 • T H I S D AY
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T H I S D AY ˾ WEDNESDAY MARCH 30, 2022
EDUCATION Parents Fault Staff Unions over Incessant Strikes With the strike by the Joint Action Committee of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Allied and Educational Institutions, in most public universities, in solidarity with Academic Staff Union of Universities, parents of students in these institutions have expressed dismay over the persistence stay at home of their wards. They observed that strikes have lost their sting on the government so unions should find another way to fight the battle. Funmi Ogundaare reports
Minister of Education, Mallam Adamu Adamu
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ecently, the Joint Action Committee (JAC) of the Senior Staff Association of Nigerian Universities and the NonAcademic Staff Union of Allied and Educational Institutions (NASU), in most public universities across the country had embarked on a two-week warning strike in solidarity with the Academic Staff Union of Universities (ASUU). ASUU had embarked on a total strike since February 14 to press home its demands as conditions for resumption with the federal government. The demands include lecturers’ condition of service contained in the renegotiated agreement and the adoption of the Universities Transparency and Accountability Solution (UTAS) in replacement of the Integrated Personal Payroll Information System ( IPPIS) which is currently in use. The President of the union, Prof. Emmanuel Osodeke described IPPIS as a monumental fraud, adding that its replacement, UTAS which ASUU members developed has been tested and passed the integrity test. According to him, “two things are critical to calling off the strike; one, Nigerian lecturers keep on getting the same salary they have been receiving since 2009. The condition of service which is contained in the renegotiated agreement is nonnegotiable, and secondly, the IPPIS must be jettisoned and replaced with what we have put on ground; UTAS, which has been demonstrated to be superior. “Even the auditor general of the federation has confirmed that IPPIS is a monumental fraud. So those two are non-negotiable, they are the irreducible minimum. So when you have not heard that one, whatever they (the government) say, they are joking.” In solidarity with the union, the Joint Action Committee (JAC) of the Senior Staff Association of Nigerian Universities and the Non-Academic Staff Union of Allied and Educational Institutions (NASU), University of Lagos (UNILAG) chapter, shut down electricity and water supply to the institution following the commencement of a two-week industrial action. The strike began midnight of Sunday,
Minister of Labour, Chris Ngige March 27, to cripple both academic and administrative activities in the university. The decision to commence the strike, according to the unions, followed the nonchallant attitude of government to their demands. Addressing union members at the front of UNILAG Senate Nuilding, during its congress, Chairman of SSANU, Sowunmi Olushola, decried the failure of government to review salaries and implement promotion arrears, as well as non-payment and in some cases, haphazard payment of retirees’ benefits, among others. He also condemned the inconsistencies in the IPPIS, saying that the attendant problems remain unabated. After the congress, the union members stormed the service area housing Akoka Electricity Transmission Station to shut down power and water supply to the university. Olushola, who was in company of his NASU counterpart, Aderibigbe Ayooluwa, said with the shutdown, nothing will work on campus as all offices are expected to be under lock and key. He directed members of both unions to stay at home through out the period of the strike, saying, “no service is essential at this time, stay off campus, no concession under any guise. ”The union leaders further directed all security guards and drivers to comply with the strike action and remain at home while the union moved from office to
office, sending away their members who had resumed work. They emphasised that if at the end of the two weeks, government does not respond, they will commence a total strike action. Similarly, the Chairman of SSANU, Lagos State University (LASU) chapter, Alhaji Seyi Lawal confirmed to THISDAY in a telephonic interview that the institution’s chapter held a congress during which the strike was decided. He said it directed that all academic and administrative activities should be suspended. “Nobody is to work. That is the instructions and directive from above,” he said. He added that negotiation with government is ongoing, adding that the union is agitating for the 2019 agreement which the government has failed to fulfil. However, with the current strike by the various unions, parents whose children attend public universities have expressed concern about their persistence stay at home, saying that the unions have lost their sting on the government and they should find another way to fight the battle. Mr. Adekunle Adeyemi said, “I have two boys in the university. Fortunately one of them is still in school because the school is not a member of ASUU though it is a state-owned university. However, the other one is home and doing nothing presently. We are trying to get him a place that is close to the house to intern, I really hope this works out because I’m not happy seeing him at home when he should be in school.” Mr. Lekan Yusuf said it is not a sweet experience seeing your wards at home when ordinarily they should have been in school learning, adding that he had to enrol his daughter into a tailoring workshop. “ I have a young daughter who is 17, and has just secured admission into one of the state owned universities, but due to
“ASUU cannot keep doing the same thing for over 30 years and expect a different result.Strikes have lost their sting on the government”
the effect of COVID-19 that disrupted the academic calendar then in 2020, the newly admmited category of her school are still at home because the school is rushing to complete the 2020/ 2021 session. “My wife had to enroll her in a tailoring session since she has interest in it, but each time I have private discussion with her I do see her frustration. Skills acquiring is one of the best option to keep our wards busy, but we need to do it with love and caution because these children are grown up and they know what they want for themselves, just we parents. Federal government and ASUU are frustrating them. May God Almighty heal our land.” Mrs. Akinyosoye Blessing said, “they are really drawing the children backwards. Their mates in the private sector are making progress, while these ones are just at home. So sad! Government please we beg you for God’s sake. The government doesn’t have our children at heart. So pathetic! Mrs. Gloria Ubong appealed to the union to seek other ways of redress saying that strikes have lost their sting on government. “Fight if you need to, but you cannot keep doing the same thing for over 30 years and expect a different result.Strikes have lost their sting on the government. Find another way to fight the battle and leave perennial strikes out of it. “Strikes hurt the people you are fighting for and not the people you are fighting against.” Mrs. Toyin Ijagbemi-Eni stressed the need for country to elect into positions of leadership people who are truly educated rather than certificate carriers. “We should elect into government people who have proven hard work or displayed intelligence.If we go by certificate, some have bought their ways through.” Mrs. Tolani Lateef said, “there should be university parents/council/lecturer forum in which the parents will have the opportunity to be part of what is going on. I know the lecturers will be among us ,they can chair the forum,so if there is any meeting with the federal government, parents will contribute their own quota and things will be ironed out easily also.”
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T H I S D AY ˾ WEDNESDAY MARCH 30, 2022
EDUCATION
PAMO as Choice Institution for UTME Candidates With a competitive edge of having full accreditation of all its courses and programmes by medical and health professional bodies, including the National Universities Commission, PAMO is fast becoming the destination of choice for studies in medical sciences at the 2022/2023 Unified Tertiary Matriculation Examination, conducted by the Joint Admissions and Matriculation Board, writes Ugo Aliogo
PAMO gate
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s the Joint Admissions and Matriculation Board (JAMB) commenced the sale of UTME forms for the 2022/2023 academic session, one institution rated high for medicine and allied medical courses is the PAMO University of Medical Sciences (PUMS), Port Harcourt. Current statistics seen by THISDAY revealed that candidates seeking admissions into universities to study medicine, nursing, and allied courses are making the school one of the lead choices given the quota set by the university. The four-year-old university has maintained its high standards. Known for an unrivalled level of discipline and quality education and being Nigeria’s first private medical university solely committed to pursuing only courses and programmes in the medical and allied field, PAMO offers anatomy, biochemistry, human nutrition and dietetics, pharmacology and physiology, Bachelor of Medicine and Surgery (MBBS) and nursing. Since its establishment, the institution has been playing a key role in nation-building by moulding the teeming youths through its teaching, research and community services. The university’s target is to be a leading institution dedicated to quality teaching, learning, research and community service. It places a premium on the development and welfare of its staff and students. Envisioned as a melting pot of the society that
embraces cultural diversity, the institution provides an atmosphere for an all-inclusive campus. As a result, its focus is to attract quality staff and students capable of competing at the highest level locally, regionally and globally. Well-equipped and furnished to world standard, it is situated in a serene environment in Port Harcourt. Last December, the first set of students (21) graduated from the institution’s Department of Anatomy, Biochemistry, Pharmacology, and Physiology. Conceptualised as a world-class institution, PAMO is dedicated to building healthcare workers, including medical doctors and nurses in the country. It has zero-tolerance for vices, including cultism, frowns upon indecency, providing a dress code for students and staff. PUMS’ facilities include laboratories, library facilities and hostels with ensuites, constant water supply and a 24-hour power supply policy. One of the university’s strengths is having an existing teaching hospital established by its founder, a renowned medical doctor. The hospital, PAMO Clinics and Hospitals Group, was established in the 1980s. It has been at the forefront of providing high-class medical services for nearly 40 years. This means that the hospital has been aiding students right from the early stages. The management is building
a four-storey building on Aba Road to house a comprehensive teaching hospital. Besides, the school signed a memorandum of understanding with the Rivers government and the Rivers State University Teaching Hospital, allowing its students to visit the teaching hospital for clinical training until the building of the PAMO teaching hospital is completed. Its accreditation by the National Universities Commission (NUC), Medical and Dental Council of Nigeria (MDCN), the Nursing and Midwifery Council of Nigeria, Medical Laboratory Council, etc., made it the first choice for people seeking sound medical education and who want to graduate on time. Vice-Chancellor of the institution, Prof. Michael Diejomaoh, said that with PAMO University’s establishment, Nigerian students seeking to study medicine do not need to travel overseas. “We can provide full medical training to all our students here at PAMO University. With PAMO, there is no need for any Nigerian to send their children overseas for training. They can equally receive that here in PAMO and even at a cheaper rate,” he explained. “Our ultimate plan, with time, is to have an elective period to expose our students to vaccine training in a short period of two to three months, rotating between the US and a partnering university.”
At the recent convocation of the university, parents and guardians could not conceal their joy that theit children and wards graduated at the record time of four years when their counterparts in other schools, particularly public schools, were still battling with academic work. Those who spoke to THISDAY commended the institution. “I can tell you that from the bottom of my heart that private universities and, in fact, PUMS in particular, is the way to go,” Mrs Abigail Nwosu said. “I don’t mind putting all my four children here. As a matter of fact, my second child, a boy, is here. I will make sure that the third and last child will come here to school. I like everything about the place – the serenity, hostel and basic facilities, security, ICT and equipment. Everything is excellent.” A former student of the school, who preferred anonymity, said it is a dream come true to graduate from such a prestigious institution. “Many of my mates that we gained admission to schools, within the same year, who are in public universities are still in their 200 level. I can’t believe that. This is either due to strike by various unions in the public university system or the lockdown occasioned by COVID-19. In our case, there was no strike for the four academic sessions we were in school, and during the lockdowns, we were all hooked on online learning which is the new way to go now. Thanks to PUMS for all they have inculcated in me. I will forever be grateful.”
Experts: Digital Access Will Make STEM-related Fields Attractive to Girls Uchechukwu Nnaike
Experts in the education sector have identified access to digital tools and resources as key to encouraging young girls to take more interest in STEM-related fields. This was the summary of the conversations during the March edition of EdTech
Mondays, an initiative of the Mastercard Foundation, in partnership with Co-Creation Hub. The virtual roundtable moderated by Joyce Daniel, a social engineering practitioner, featured experts in the education and technology space, including Ada Nduka Oyom, the Founder of She Code
Africa; Dr. Adefunke Ekine, the Deputy Director, Research and External Linkages, Tai Solarin University of Education and Judith Okonkwo, a technology evangelist and the founder of Imisi 3D. Speaking at the roundtable with the theme ‘Celebrating African Women in Education and Technology,’ Ekine
stated that the low number of young girls in engineering and technology-related fields was due to the challenge of direct access to digital tools and resources. She noted that the problem was aggravated by the abysmal teaching of foundational subjects such as Mathematics. In her remarks, Oyom, an
advocate of female representation in STEM education, while citing examples of the success stories of She Code Africa on STEM education, stressed the need for stakeholders to make resources and tools available and expose young girls to other opportunities. Also speaking, Okonkwo stated that the global aspiration
for gender parity was realisable if stakeholders focused on providing immediate access to the girl-child regardless of social status. She urged women in the technology space to remain focused regardless of the challenges they may be going through, as success awaits them in their chosen careers.
entrances. Elliot recalled ex-Governor Bola Tinubu’s administration allocated a piece of land to the association in Abijo, Ajah. “Am reiterating here that the development of the Abijo site will be a reality. The plan is to put in place an international
standard boarding school facility, of course with funding, government approval and other tools in place,” he added. The new national executives of the association are first Vice President, Adesola Babatunde, second Vice President, Ganiyu Tito Nurudeen, General Secre-
tary, Babatunde Osibodu, first Assistant General Secretary, Dr. Femi Olokodana, second Assistant General Secretary, Onatunde Oluwasegun, Welfare Officer, Dr. Ationu Henry Uko, Treasurer, Kunle Aderibigbe, Publicity Secretary, Temitope Oluwabiyi, among others.
EKOBA Seeks Control of School Funmi Ogundare
The newly appointed National President of Eko Boys High School Old Boys Association (EKOBA), Kayode Olawunmi Eliot, has appealed to the Lagos government to allow the association to take over the school.
This will be done in collaboration with the Uba and Robert families, who originally established the school. Eliot, who made this appeal weekend at the Annual General Meeting (AGM) and inauguration of new executives of the association in Lagos, expressed
concern about the school’s poor infrastructure. “The Old Boys are not very happy with the state of facilities in the school, and they felt the government has a lot on their plate,” he explained. He promised the immediate remodelling of the school’s
T H I S D AY ˾ WEDNESDAY MARCH 23, 2022
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EDUCATION
Don Advocates Moral Science in School Curriculum James Sowole ÓØ ÌÏÙÕßÞË
A professor of Ethics and Philosophy of Religious Studies at Dominican University, Samonda, Ibadan, Jude Mbukanma, has blamed decadence, particularly among youths, on the relegation of moral science in the nation’s educational institutions. Mbukanma said the absence of strong morals of patriotism, uprightness, diligence, content-
ment, the reward for hard work was responsible for various challenges confronting the country. The don spoke while delivering the first inaugural lecture of the university with the theme ‘The Abandonment of Moral Science In The Pursuit Of Natural Science Education; The Great Mistake In The Theory of Modernisation’. He, therefore, said the restora-
tion of these values is the only way that the challenges can be tackled. Mbukanma said Nigerians and their leaders at various levels of government must embrace the virtues of patriotism and love for the country to lift the nation above its woes. “Let us give moral science a priority consideration in our educational system as we cannot expect good behaviour if moral
isn’t in place and note that virtue is teachable and its reward is happiness,” said Mbukanma. Speaking at the event, the Vice-Chancellor of the university, Prof. Anthony Akinwale, noted that it was “imperative to be reminded that the lecture of today challenges us to ensure that we do not separate politics from morality; and if separated, our challenges in the country will remain insurmountable.”
Starfield College Holds Maiden Chess Tournament Uchechukwu Nnaike
Parents and teachers have called on school proprietors nationwide to promote sports by providing facilities for their pupils to exhibit their different sporting talents. The stakeholders gave the advice for sports development in schools at the maiden edition of Starfield College, Fagba, Lagos, chess tournament for primary, junior and secondary, which attracted seven private schools. The event’s chairman, Dr. Akin Babafemi, said he is happy with sports development in schools such as Starfield College and called on others to imitate
the school. Babafemi noted that most schools did not have sports facilities. A parent of Starfield College, Stephen Akiogbe, tasked school owners to invest in sports facilities to develop and catch young talents among its pupils. According to Akiogbe, when schools invest in sports, it will attract companies and sports associations to sponsor and hunt for new talents. The Sports Coordinator of Starfield College, Matilda Feyijimi, urged schools to invest in sports to groom and discover new talents. “Physical education is important in schools.
My director of studies is interested in sports, and he promotes sporting activities in the school. It would motivate pupils and make them discover their talents in sports,” she stated. In his speech, the Director of Studies, Starfield College, Mr. Chris Eigbe, observed that many parents have realised that chess is a wonderful way to teach young children mathematical concepts and important thinking skills that can be used throughout their entire life. He listed other benefits of chess to include concentration, decision-making skills, deep thinking, problem-
solving, deep reasoning and critical thinking abilities. The director of studies said the college would continue to encourage its students to take an interest in chess by providing the time and environment necessary for its mastery. The primary category was won by Home Science Primary School, Oko-Oba, followed by Cedars World Nursery and Primary School, and the third position went to Tofek School, Abule Egba. Starfield College went home with the trophy in the senior category, while Tofek Schools was second and Providence High School, Fagba came third.
Winners of chess senior category with trophy, flanked by the Director of Studies, Starfield College, Fagba, Lagos, Mr. Chris Eigbe; Dr. Akin Babafemi, Mrs. Juliana Eigbe, Mrs. Matilda Feyijimi and teachers, at the maiden edition of the chess tournament organised by the school recently
Foundation Partners Bridge Nigeria, Awards Scholarship to Less priviledged Children The Special Foundation (TSF), a privately funded social impact organisation, has partnered with Bridge Nigeria to award full scholarships to children from economically disadvantaged communities, as part of efforts to improve the quality of leadership in Africa, through improved access to education. Already, 10 pupils of Bridge International Academies have received full scholarships for their primary and post-primary education. The scholarship opportunity will be extended to more children in the coming terms. Speaking at the scholarship signing ceremony, held recently at a Bridge Academy in Ifako Ijaiye, Seyi Akinwale, founder, The Special Foundation, acknowledged the pivotal role education plays in the development of nations and disclosed
that the decision to set up the Foundation was informed by the need to build Africa’s next set of leaders, by refining their minds through education. According to him, “The inspire scholarship is targeted at orphaned and vulnerable children in disadvantaged communities. We provide tuition, including the cost of books and other materials to children in primary and secondary schools. Bridge Nigeria is one of our partner organisations for our education intervention programs. “ He added that, “we decided to partner with Bridge because their mission of providing quality education to children from low-income families aligns closely with our goal. We intend broadening the partnership with Bridge and furthering the impact of their work, while
ensuring the sustainability of same.” In her remarks, the Managing Director, Bridge Nigeria, Foyinsola Akinjayeju, said it believes that a child’s potential should not be limited by his or her socio-economic status, hence, the support for low income families through the access it provides to life changing education through collaboration with the foundation. “If there is anybody or organisation seeking to make a real impact, there is no better place to invest than in the lives of children who are the future of any nation.” She commended the foundation for its impact on the lives of less privileged children through scholarship and mentorship programmes, while expressing optimism that the TSF-Bridge partnership will hopefully lead
to more collaborations and opportunities for additional beneficiaries from Bridge. Parents of the beneficiaries who were attendance expressed excitement about the scholarship, while commending TSF and Bridge for the initiative. For Mrs. Victoria Stanley who is visually impaired described the scholarship for her children, Chidera and Prudence, as a huge relief for her family. “We could not contain our joy when we received a call from Bridge, informing us of Chidera and Prudence’s scholarship. Eith their scholarship up till secondary school, we don’t have to worry about their academic pursuits because our prayers have partly been answered. All we need to do is to save towards their university education and I believe they both will achieve their dreams.”
A
Teacher’s DIARY KEHINDE OMORU
www.kayomoru.com
NEVER AGAIN!
J
ola is 3 weeks into this placement. He is 24 years old & a final year student of Economics at one of the leading universities for Economics studies. Jola has spent six years already at this course due to having to take several deferments for the mental instabilities he has been suffering with. He is formally diagnosed with Bipolar Affective Disorder and Anxiety. Jola’s episodes of depression are typically more prolonged than his elations. They last for months and can just so suddenly switch to his euthymic mode. Jola’s depressions are destructive in nature. During them he goes into excruciating periods of self-destructive rumination as well as abject despondency. Fluctuations in Jola’s mood are not helped at all by his family’s antagonistic and disbelieving attitude towards his problem. They don’t seem to understand the nature of bipolar or believe that Jola is indeed suffering from the condition. Jola has informed that they have stated repeatedly that they do not believe in bipolar or that such a problem ever exists. Jola puts his parent’s denial of his diagnosis down to what he terms their afro-religious opinions. He particularly laments his 9ja father ’s versions of religious explanations for his problem. His mum maintains that there is no such thing as bipolar in her lineage, therefore she maintains that Jola’s illness is unacceptable for her. Jola’s father swears never to raise ‘Hophnis and Phenihases’ as long as he lives. Eli is well alive in Jola’s dad who repeatedly relives his own brash upbringing, which was mainly formed of labour and reprimands. Granted labour ‘maketh’ man but it is also vain to rise up early and go to bed late! So fast back to present times, Josh’s mood has plummeted into gullies deep. On a daily basis, he insists on having curtains drawn; manifests near zero efforts to engage with staff; he expresses no wish for personal care; he visibly struggles to eat & drink; he avoids engaging with anyone and commits mostly to his bedroom and bed. Jola’s consultant psychiatrist Dr Winter decided at MDT meeting a few days ago to take a leap and introduce 75mg of an avouched mood stabiliser to his drugs. He explained that he wished to speed up Jola’s mood upliftment to enable him gain some motivation to complete his dissertation. Administered at 9am, things however took a dramatic turn by 11am when Jola began to manifest symptoms similar to a panic attack. He was reacting severely to his dose of the new antipsychotic. It started with him complaining of nausea and was successfully administered an anti-emetic. Unfortunately other symptoms surfaced and persisted, and were tortuous to behold and manage. After many hours of traumatic suffering, Jola’s negative side effects gradually subsided. His hives settled and began to fade away. During recovery his vital signs had been closely monitored; antidotes were administered and CPR considerations was put on standby. His regular dose was immediately reduced to 37.5mg and its type changed from an XL to the ordinary type. It is back to calmer days now and Jola is currently stable on 37.5mg and according to Dr Winter, it is time for his dose to be titrated upwards. Jola’s struggles continue to highlight a mistake many Nigerian parents and Nigerian foster relatives have made, and continue to make. It is an error which in our culture is also dealt out by nurturing non-relatives. This mistake is recognised and therefore enough-forewarned by a biblical statement which warns that, “Fathers (and mothers) do not provoke your children to anger by the way you treat them. Rather bring them up with the discipline and the instruction that comes from the lord.” -Omoru is a freelance writer, education, health and social care advocate
“Jola’s struggles continue to highlight a mistake many Nigerian parents and Nigerian foster relatives have made, and continue to make. It is an error which in our culture is also dealt out by nurturing non-relatives”
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T H I S D AY ˾ WEDNESDAY MARCH 23, 2022
EDUCATION
Grace School: Forging Global Partnership for Academic Excellence Following its recent partnership with a foreign institute, Loyalist College, Ontario, Canada, Grace School, Lagos has become the first Nigerian school to partner a foreign institution to provide overseas admission as a critical factor for educational advancement. Mary Nnah reports
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oyalist College recently signed a curriculum partnership agreement with Grace Schools, Lagos, the first of its kind between an Ontario college and a Nigerian secondary school. Under the agreement, graduates of Grace Schools can earn the first year of a Loyalist Business diploma in Nigeria before transitioning to the college‘s Belleville campus to complete their programme. With this, Grace School will start academic programmes for Loyalist College on its premises in Nigeria. This is a huge investment and foresight to support the aspirations of Nigerian students. Grace School has become an ambassador for the education system, showcasing Nigerian schools’ enormous potential and capabilities to compete on the global landscape. Loyalist College President and CEO, Dr. Ann Marie Vaughan, said, “We are pleased to work with Grace Schools to make Loyalists a destination for Nigerian students to acquire employability and life skills that prepare them to succeed in their future careers.” Loyalist College will begin full academic sessions in Nigeria in May. This brings into operation its agreement with Grace Schools, Gbagada, to serve as its official representative in Nigeria. Grace Schools becomes the Nigerian campus for Loyalist College, Ontario, where students spend the first year of study before going to Canada to complete their education at the main campus. The Director of International Education, Loyalist College Canada, Mr. Jim Whiteway, who visited Grace Schools recently for an on-the-spot
Executive Director, Grace Schools, Mrs. Olatokunbo Edun assessment, noted that the partnership provides opportunities for students to experience the global quality education Loyalist provides at Grace School. Whiteway commended Grace School for its focus on providing quality education. According to him, the opportunities
provided by Loyalist College allow students to gain employment within the first few months after their education. Loyalist College has a system that ensures a strong focus on premium quality education. He stressed that students would not travel to Canada but spend the
first year of study in Nigeria. He concluded that the credentials of Loyalist College are globally acceptable, with over 50 years’ existence. Grace schools (both primary and secondary arms) founded by the late Deaconess Grace Bisola Osinowo in 1994 are schools with a remarkable difference. The primary arm was founded in 1968. The school remains focused on providing quality education. It is reputed as the first Nigerian school to partner with a foreign institution to provide overseas admission here in Nigeria. The Executive Director of Grace Schools, Mrs. Olatokunbo Edun, said, “This partnership provides quality education with affordable fees for parents who want to improve learning experiences for their children. It’s an opportunity for students to achieve their academic dreams.” Under the agreement, graduates of Grace Schools can earn the first year of a Loyalist Business diploma in Nigeria before transitioning to the College‘s Belleville campus to complete their programme. For their second year, students have the option to transfer into the three-year Business Administration-Accounting advanced diploma programme. Graduates who wish to build on their diploma can earn a Bachelor of Commerce degree in just two additional years through the Business – Accounting – UOIT BCOM Stream programme or pursue one of several one-year Loyalist postgraduate certificate programmes. When the gates of Loyalist College open for academic activities in May at the Grace School premises, it ushers new dawn for Nigeria’s educational system.
STEM Competition: Seven Greensprings Students, Others Get Conrad Foundation’s Scholarship Conrad Foundation, the organiser of Conrad Challenge, has revealed the scholars of this year’s competition, and seven students of Greensprings School, Lekki made the list of global students awarded $60,000 each to study at Clarkson University, USA. The seven students, who were in two teams, received the scholarship for their
exceptional STEM projects on smart home security and anti-phishing web browser. In addition to the scholarship, one of the two teams that represented the school was awarded the Most Resilient Team. The Assistant Principal (Enhancement), Greensprings School, Mr. Afolabi Amusan, while providing details of the students’ participation, said
“we presented two teams (seven students) for this year’s challenge, and they emerged finalists. The first team is called Team A.I.D, and its members include Zainab Adesina, George Tari-Best, and Yanmife Arayela. The team created a smart home security device, and through it, occupants of an apartment are notified of intruders before they get close to the door.
“Olufela Bakare, Oluwatamilore Akinsete, Mueed MuseAriyoh, and Esomchukwu Onyiuke are members of the second team called Team MAGMA. This team coded a web browser designed to combat phishing and other forms of fraud, using secure log-ins and password manager technology.” Reacting to the students’ achievement, the Head of
School, Lekki Campus, Mrs. Feyisara Ojugo said, “I am super proud of the efforts of our students in this year’s challenge. I salute their resilience, focus, drive and innovativeness, and I look forward to seeing them continue to hone the skills they have picked up through this experience. A big well done to the coaches too.” The Conrad Challenge is
a yearly competition that brings together a dynamic community of innovators and entrepreneurs who work together to develop extraordinary and viable solutions that benefit the world in the areas of Aerospace and Aviation, Cyber-Technology and Security, Energy and Environment, Health and Nutrition, and Smoke-Free World.
ICENT Becomes First African Institute to Receive ISO 21001:2018 Certification The Institute of Classic Entrepreneurship, Nigeria (ICENT), Africa’s foremost society of entrepreneurs and the convener of the Global Confederation of Entrepreneurship Institutes, has become the first institute in Africa to be certified with ISO 21001:2018, an international standard measurement for Educational Organisation Management Systems (EOMS). ISO 21001:2018 Certification is the world’s first international management system standard, developed by the International Organization for Standardization for educational organizations, published in May 2018. A statement by the ICENT registrar, Dr. Nuru Oyekola, said, “The world has changed
and is currently in the transition from traditional or so-called the old normal to the new normal education system due to the overwhelming pandemic crisis that greatly affected humankind and the entrepreneurship education system.” This ISO 21001:2018 certification positions ICENT as a trailblazer transitioning from the manufacturing-based 9001:2015 standard into EOMS 21001:2018 standard. Reacting to the certification, the Deputy Vice-President (Corporate and Public Affairs), ICENT, Dr. Sunday Ade Bello, said, “ISO certification invokes quality recognition among industry groups, employers, those seeking a business degree and provides a unique competitive advantage.” Also, ICENT’s Chairman,
Entrepreneurship and Enterprise Education Committee (3EC), Prof. Tope Fakokunde, noted that “our efforts have been rewarded with the award of the ISO 21001:2018 certification.” Also speaking, the Deputy Vice-President (Programmes), ICENT and Director, Directorate of Entrepreneurship Studies, LAUTECH, Ogbomoso, Prof. Ademola Adele, said the strong ideals of ICENT brought the institution “this milestone certification.” The certificate is valid for three years until March 2025. Each year it will be re-audited. The ICENT’s past president, Prof. John O. Alabi, mentioned that “our EOMS incorporates the requirements of ISO 29993 (vocational training) and ISO 29994 (distance learning).”
From left: Chairman 3EC, ICENT, Associate Prof. Tope Fakokunde; Registrar/CEO, ICENT, Dr. Olaolu Nuru Oyekola; and Immediate-past President, ICENT/ED-Global Confederation of Entrepreneurship Institutes, Prof. John Alabi, during ISO 21001:2018 certificate presentation ceremony... recently
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T H I S D AY ˾ WEDNESDAY MARCH 30, 2022
CITYSTRINGS
Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 07010510430
A Cerebral Lawmaker, Babajimi Benson Clocks 50 Udora Orizu chronicles the noteworthy political and leadership journey of the Chairman House of Representatives Committee on Defence, Hon. Babajimi Benson as he rings in the golden jubilee year
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arch 30, 2022, is the 50th birthday of a cerebral leader, legal practitioner, administrator, politician, management expert and advocate for women inclusion in leadership, Honourable Babajimi Adegoke Benson. The story of Hon. Benson's sojourn on earth is one of the abundance of the Grace of God, whose unfailing love has been sufficient in his life. Benson, born in 1972 in Ikorodu, Lagos State, is a man of many parts. JB, as he is popularly called is not just an exceptional politician, lawyer, but also an astute administrator whose career progression has taken him through both the private and public sectors. Benson is intelligent, meticulous, with a rare passion for public service, humanity and philanthropy. He has dedicated his life to strengthening the people politically, financially, economically and socially. Despite his great achievements, you will find him as humble as they come. He had his early education in Ikorodu before proceeding to Lagos State University to study law, graduating in 1994 with an LLB. Thereafter, he attended the Nigerian Law School in 1995 and bagged a Bachelor of Law (Honours). He then proceeded to obtaining an LLM in Comparative International Business Law at the London Guildhall University graduating with a Merit in 1999. His massive thirst for intellectual advancement and need to diversify and reinforce his educational qualifications led him to Warwick Business School (UK) where he bagged a Master of Business Administration (MBA). He is a member of Nigerian Bar Association as well as the International Bar Association. After successfully completing his NYSC programme in 1989, he was appointed a Legal Officer in the General Counsel Division at the United Nations Headquarters, New York. From 2001-2003, he was an in-house Legal Counsel at Ecobank Plc after which he moved to Lead Bank PLC as Deputy Manager (Legal) between 2003-2004. His impressive career progression saw him being appointed as a Non-Executive Director at the Lekki Freetrade Zone in 2007, a position he held till 2004 when he was appointed the
Hon Babajimi Benson Company Secretary (Strategy, Legal & Corporate Governance) of Lagos State Development & Property Corporation (LSDPC). Journey as a Legislator As he rings in the golden jubilee year, Benson have spent almost seven years as a member of the National Assembly, representing Ikorodu federal constituency at the House of Representatives. His strong desire to serve his people had him venturing into full-time politics, and in 2015 he was elected on the platform of All Progressives Congress (APC) to represent his constituency at the green chamber. Currently, serving his second tenure, Honourable Benson is one of the very few lawmakers that have demonstrated laudable leadership and political responsibility in the discharge of his legislative duties. He served in several key commit-
tees of the House in the 8th and 9th Assembly. These include Chairman, House Committee on Banking and Finance, Chairman, Sub-Committee on Habitat, Deputy Chairman, Committee on Delegated Legislation and member of Committees on Works, Justice, Housing, Environment, Treaties and Protocol. He currently chairs the House Committee on Defence, and have through bills and motions canvassed ways to aid the security agents in carrying out their duties more efficiently and effectively in the fight against insecurity. One of such efforts towards enhancing defence capabilities, led him to sponsoring a Bill seeking to establish the Nigerian Armed Forces Support Fund. As an advocate of women inclusion in political and other leadership positions, Benson who has been a member of the House of Representatives Constitutional Review Committee since the 8th Assembly, was among the lawmakers who voted in favour and as well appealed to his colleagues to vote in favour of gender bills during the recent voting on the constitution amendments. Some Bills sponsored by him include: "the Good Samaritan Bill seeking to provide legal protection for First responders who render help to victims of accidents or in emergency situations, Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Bill, 2020, which seeks to address the need for defined periodic population census in Nigeria, A bill seeking to amend the Electric Power Sector Reform Act (Amendment) Bill, 2020, to authorize host communities where electricity is generated to be entitled to a percentage of profits from Generating companies. Constitution of the Federal Republic of Nigeria, 1999 (Alteration) Bill, 2020 which seeks to alter the minimum educational qualification for aspirants into political office and National Icons, Symbols Legacy Agency Bill, 2020, to allow for more coordinated and robust management of our national symbols, A Bill for an Act to Amend the Armed Forces Act, Cap. A20, Laws of the Federation of Nigeria, 2004 to Foster Collaboration Between the Armed Forces and Other Security Agencies in the Provision of National Security and Establish the Armed Forces Human Rights Unit to Provide a Reporting Channel for Civilians Whose Human Rights are
Violated by Members of Armed Forces; Bill to Reserve five per cent of GENCOs Revenues for Host Communities, Bill to Specify Time Frame for Conduct of Census." Benson sponsored the motion to commemorate the World Teachers Day and celebration of Nigerian Teachers, where the Best Teacher in Nigeria 2019, Mrs. Agnes Elusakin of Oriwu College, Ikorodu was honoured by the Speaker of the House, Hon. Femi Gbajabiamila and members of the House. He also laid a petition before the House against the Accountant General of the Federation for his refusal to pay salaries and pension arrears of officers, who retired from the Federal Civil Service between 2012 and 2020. Constituency Development On constituency development, Benson who endeared himself to his constituents as the ‘People’s Representative’ with his grassroots drive, has attracted several projects to them. He launched the iCare Foundation project on October 16, 2016. The Food Bank idea was conceptualised to cater for the aged, widows, needy and vulnerable as a means to cushion the effect of economic recession on the people. He also set up a community radio in his Ikorodu constituency, the radio, IKD 106.1FM officially commenced transmission. One of his recent constituency projects is the donation of an 80-bed Mother and Child Hospital to Imota. He has also used his position at several stages of his career to secure employment for a large number of his constituents both directly and via recommendations. Aside his numerous accomplishments, Hon. Benson is happily married with children. It will be hard to capture all his achievements in this piece, but the above attributes aptly define Hon. Benson's journey into the Nigerian political domain. Happy Birthday to a natural-born leader and one of the most innovative person in politics today! You are always striving to make things better with new approaches and such unfaltering determination. Your headstrong approach and passion to achieve what you set out to do is so remarkable and truly inspirational. May the next 50 be even better than the first!
Rhonda Wells: Driving the Gender Inclusion Workplace Campaign Rhonda Wells is Vice President and Chief Financial Officer of IHS Nigeria. She has over 25 years of experience in Finance, covering internal and external listed reporting, M&A transactions, and audits. A qualified Accountant since 1997 who holds an Executive MBA from ENPC/University of Edinburgh, Wells joined IHS in 2015 as Group Financial Controller having previously worked as GFC for a UK FTSE 250 listed Media Company and a London AIM-listed investment company. Before that, she worked at KPMG for many years. She spent a good part of her childhood in Zambia and 18 months in Libya. In this interview with Mary Nnah she talks about how gender bias can be countered, especially at workplace
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ow was growing up like for you, and how has it helped to influence where you are today? I am the middle child sandwiched between two brothers. My Mom was keen that I had an education, if I wanted it, and made sure that all her children could cook and look after themselves. My brothers never stopped me from hanging out with them when we were younger, so I was, in that sense, taught equality of both opportunity and responsibility at home and was rarely in a position where I could not do something because I was female. We also lived in several different countries, giving me a broader outlook and joy of travel. As VP, Chief Financial Officer of IHS Nigeria, what has been your motivation and driving force? I’d say I grew up with a strong work ethic, and I was lucky that I enjoyed school, which helped. On top of that, from a young age, I wanted to independently pay my bills and know that I could without worrying, so that was a strong driver. For most of my working life, I’ve enjoyed my work. It has given me purpose and introduced me to interesting people and places. I’ve been lucky to work
of such bias? There certainly can be among some, even some weeks ago, a man meeting me was surprised to see a female CFO. I certainly had some instances of blatant outright sexism when I was younger, and still sometimes endure people not even realising they are patronising me by explaining something to me that I was dealing with years before they were. There is progress, though, and I see that younger generations are less threatened by the changes for both genders and see them as normal. To counter it, I think we all have to keep calling out its absurdity and recognise our biases and how we are conditioned by societal ‘norms’.
Rhonda Wells with many intelligent and driven people. Do you think there is a gender stereotype associated with women working in a corporate environment? If yes, how do you think the industry can be free
What does the 2022 International Women’s Day theme, Break the Bias, mean to you? It is about all of us, men and women, examining our biases and consciously trying to set them aside and act in a way that does not assume or create obstacles for women in the workplace. For example, we shouldn’t think a woman won’t want that new opportunity because she has a family to look after or may wish to start a family – instead, we ask her and let her decide.
How essential is diversity and gender inclusion is in the workplace? It’s essential if we want our businesses to reflect the gender balance in the world around us. In an age where human capital is typically more about the skills, know-how, and attitude of staff, do we really want to restrict our talent pool to one gender and maybe miss out on better talent? It makes no sense either as a society or for commercial reasons. In your opinion, how can commercial organisations Break the Bias and drive lasting change? We have to set the example and not pay only lip service; we need to be conscious of hiring and career progression biases. Sometimes that will mean working harder to get women into some functions and disciplines or promoting them when they have potential, in the same way, we do with men, and not just when they’ve already been doing the job for months/years. Instead of ‘empowering women’ or expecting them to empower themselves, we should be breaking down the barriers that have been put in place for centuries, so they have equal opportunity and progress according to their capabilities and not their gender.
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WEDNESDAY, MARCH 30, 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 28Mar-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 8.30% AIICO Balanced Fund 3.44 3.50 -2.76% 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 N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.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 20.71 21.33 2.08% ARM Discovery Balanced Fund 475.23 489.55 5.33% ARM Ethical Fund 39.83 41.03 2.25% ARM Eurobond Fund ($) 1.06 1.06 -2.05% ARM Fixed Income Fund 1.03 1.03 1.69% ARM Money Market Fund 1.00 1.00 6.76% 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 109.12 109.12 7.29% AVA GAM Fixed Income Dollar Naira 1,088.69 1,088.69 8.87% 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 2.11 2.11 11.63% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.27 2.32 15.92% 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 7.54% Paramount Equity Fund 18.09 18.43 7.54% Women's Investment Fund 143.98 145.68 3.56% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund N/A N/A N/A Cordros Milestone Fund N/A N/A N/A N/A N/A N/A Cordros Dollar Fund ($) N/A N/A N/A CORONATION ASSETS 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 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com 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 N/A N/A N/A Emerging Africa Bond Fund N/A N/A N/A Emerging Africa Balanced Diversity Fund N/A N/A N/A Emerging Africa Eurobond Fund N/A N/A N/A FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,431.03 1,431.03 10.10% FBN Balanced Fund 184.76 186.16 5.42% FBN Halal Fund 117.98 117.98 8.98% FBN Money Market Fund 100.00 100.00 7.92% FBN Nigeria Eurobond (USD) Fund - Retail FBN 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
123.19 155.81
123.19 4.06% 157.92 3.32% 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 4,016.00 3,519.12 100.00
Offer Price 4,079.18 3,519.12 100.00
Yield / T-Rtn 3.20% 1.46% 5.20%
1.09
1.09
0.83%
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 N/A N/A N/A Vantage Balanced Fund N/A N/A N/A Vantage Guaranteed Income Fund N/A N/A N/A Kedari Investment Fund (KIF) N/A N/A N/A Vantage Equity Income Fund (VEIF) - June Year End N/A N/A N/A Vantage Dollar Fund (VDF) - June Year End N/A N/A N/A LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.49 1.52 3.60% Lotus Halal Fixed Income Fund 1,164.54 1,164.54 2.42% 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 12.27 12.36 4.09% Meristem Money Market Fund 10.00 10.00 8.40% 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) 103.60 103.60 8.26% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.19% 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 128.83 130.97 7.35% 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 1.02 1.02 9.25% 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 3,541.49 3,581.14 2.87% Stanbic IBTC Bond Fund 237.48 237.48 0.74% Stanbic IBTC Ethical Fund 1.36 1.38 5.38% Stanbic IBTC Guaranteed Investment Fund 317.47 317.47 1.32% Stanbic IBTC Iman Fund 251.15 254.99 3.76% Stanbic IBTC Money Market Fund 100.00 100.00 4.75% Stanbic IBTC Nigerian Equity Fund 11,448.12 11,609.75 3.05% Stanbic IBTC Dollar Fund (USD) 1.31 1.31 1.09% Stanbic IBTC Shariah Fixed Income Fund 117.87 117.87 0.77% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 108.34 108.34 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 0.97 0.99 4.49% United Capital Balanced Fund 1.41 1.44 3.75% United Capital Wealth for Women Fund 1.14 1.16 5.13% United Capital Sukuk Fund 1.09 1.09 1.79% United Capital Fixed Income Fund 1.99 1.99 1.74% United Capital Eurobond Fund 123.89 123.89 1.27% United Capital Money Market Fund 1.00 1.00 5.84% 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 13.48 13.61 2.21% Zenith ESG Impact Fund 15.52 15.70 6.26% Zenith Income Fund 22.39 22.39 1.75% Zenith Money Market Fund 1.00 1.00 5.95%
REITS NAV Per Share
Yield / T-Rtn
122.16 53.16
1.62% 0.82%
Bid Price
Offer Price
Yield / T-Rtn
14.17 134.78 106.57 20.41 22.16
14.27 138.10 108.87 20.51 22.26
1.45% 2.39% 2.83% 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
4.16 5.61 18.36 1.00 21.08 168.97
4.26 5.71 18.56 1.00 21.28 170.97
10.58% 10.03% 6.81% 8.81% 8.66% 7.05%
INFRASTRUCTURE FUND
Fund Name NAV Per Share Yield / T-Rtn Chapel Hill Denham Nigeria Infrastructure Debt Fund 107.28 10.80% 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.
FSDH Dollar Fund
36
T H I S D AY ˾ ˜ ͱͮ˜ 2022
BUSINESS/MONEYGUIDE
Fidelity Bank to help Entrepreneurs Explore International Markets Kayode Tokede Fidelity Bank Plc has disclosed plans to host a workshop for businesses looking to scale and expand their reach into new international markets. The training, which is scheduled for next month in Aba, Abia State, is being put together in collaboration with Export & Sell Limited -a trade enabling platform that facilitates the listing of Nigerian businesses on Amazon as well as access to other US off-take markets -. Speaking on the rationale behind the workshop, Mrs. Nneka Onyeali-Ikpe, Managing Director/ CEO, Fidelity Bank Plc, said, “For more than three decades, we have helped customers scale up their businesses through the right mix of financial and non-financial solutions including access to markets initiatives like our Export and Sell workshop scheduled for Aba.
With the workshop, we aim to guide customers and prospects in developing the competence necessary for selling to the US market.” Similarly, Managing Director/ CEO of Export and Sell LLC, Nduka Udeh expressed his excitement to collaborate with Fidelity Bank on the project and commended the financial institution for the initiative. Giving a summary of what participants are to expect, Udeh explained, “The training offers a practical approach to exporting and will show businesses how to prepare the correct documentation required to export to the United States of America (USA), how to find buyers, how to list products and sell on Amazon, how to export food products and the various licenses needed as well as other aspects of exporting”. He added that assisting businesses to export would have an
enormous ripple effect across the economy by increasing the volume of export earnings. According to the bank, the seminar is designed for businesses in the following sectors: Food and Beverage; Fashion and Textile; Leather and Foot ware; Furniture and Woodwork; Art and Craft, Beauty and Cosmetic Industries, Pet Products, Building Materials; Light Equipment; as well as Chemical and Petrochemical industries. After the training, Export & Sell would help businesses to revamp their products packaging, and sales literature, making sure they meet the specifications to sell on Amazon and other US outlets. The workshop comes to join a long list of dedicated initiatives put in place by the bank to help local businesses play on the global scale and attract foreign exchange earnings.
L-R: Activation Manager, Grand Oak Limited, Benson Oluwafiropo; Baale Ekotedo, Dr. Taye Ayorinde; and Marketing Executive, Grand Oak Limited, Oluseun Mudashiru at the Seaman’s experience stand at his palace in Ibadan Oyo State... recently
MARKET INDICATORS
KLM Promises Sustainable Contribution to Nigeria’s Economy, Celebrates 75 Years Emmanuel Olorunda-Otaru KLM Airline has promised to continue to contribute to Nigeria’s economy through sustainable efforts, as the oldest airline in Nigeria and the world celebrates its 75 years of taking to the Nigerian skies, last Saturday in Lagos. The Embassy of the Netherlands in Lagos, has also expressed happiness with KLM Airline, the Dutch company for its resilience and continuing operations in the country. While reminiscing on the airline’s debut to the country, the Consul General of the Kingdom of Netherlands in Nigeria, His Excellency, Mr. Michel Deelen, said that in those days, people used to come to Nigeria by boat, but the coming of KLM with a DC4 aircraft in 1947, changed
the narrative to the skies, with strong backing by the Dutch government. He said since then, KLM has been flying Nigeria all over the world and the world to Nigeria, with their state-of-the-art aircraft with comforts. Within these 75 years, the airline said it has become a major player in the region, backed by a strong global network, connecting Africa to the rest of the world with its strategic partners. ‘’This milestone demonstrates the market’s strong confidence in the brand and the strengthened partnerships between Nigeria and the Dutch governments’’. ‘’We are delighted to be celebrating 75 years of KLM taking to the Nigerian skies, showcasing our commitment to our customers. Sustainable as
possible, and further enhance the travel experience of our Nigerian customers.’’ ‘’KLM now maintains its network as much as possible. Together with her sister company Air France, they now offer up to 15 weekly flights out of Nigeria, making it the oldest and biggest operator out of Nigeria.’’ According to the airline, ‘’In the past months, we have seen demand for air travel increasing as COVID-19 restrictions are lifted in the Netherlands and other EU countries. KLM has responded by expanding capacity on European routes by 10 percent compared to last year, almost matching the 2019 pre-pandemic level. KLM also expects business travel to return, which is why frequencies are added to British, German and Polish routes.’’
ARM Commences Labs Innovation Program The ARM Group in partnership with Greentec Capital Partners announces the commencement of the ARM Labs Innovation program. Formerly known as LABS by ARM Accelerator Program and recently changed to ARM Labs Innovation Program, the program is designed to support ARM’s mission to fund compelling Nigerian fintech startups in the incubation stage. These startups should be poised to
solve key problems in innovative ways within the financial industry and introduce ideas that transform how users access and consume financial services. Through this program, ARM will support the selected startups to commercialise and grow the distribution of products and services. During this 7-week Innovation program, each FinTech startup will be engaged intensively in a series of activi-
ties including advisory and mentorship sessions amongst others, all aimed at exponentially advancing the growth of their companies within the short time frame. The ARM Group will make an investment of $50,000 (fifty thousand dollars) for 6% equity to each of the 5 selected startups and provide them with office workspace as an additional benefit to assist with their business operations.
LIRS: No Extension of Deadline for Filing Individual Annual Tax Returns The Lagos State Internal Revenue Service (LIRS) has announced that there is no plan to extend the deadline for filing individual annual tax returns beyond its statutory date of March 31. The Executive Chairman, Mr. Ayodele Subair made this known in Alausa, Ikeja while advising individual taxpayers, including self-employed persons and employees under the PAYE Scheme in Lagos State to take advantage of the remaining days in March to file their annual tax returns to avoid payment of penalties, as well as other statutory sanctions, which may
include prosecution. According to him, the obligation to file annual tax returns is stipulated in Section 41 of the Personal Income Tax Act (PITA), “The provision makes it mandatory for all taxable person(s) to file a return of aggregate income from all sources for the preceding year with the State tax authority in which they are deemed resident within 90 days from the commencement of every new year of assessment.” He stated that LIRS has in the last 3 months engaged taxpayers, using various mediums to remind them of their statutory
obligations as provided in the Personal Income Tax Act (PITA) Cap P8 2011 (as amended), warning that the agency is therefore set to use the full weight of the law in ensuring taxpayers who fail to meet this obligation are brought to book. The LIRS boss reiterated, “Filing of tax returns in Lagos State can only be done on the LIRS eTax portal using: https://etax. lirs.net. It is therefore mandatory for all taxable persons in the State to register on the eTax portal, which is built purposely for the convenience of taxpayers. eTax is easy, convenient and safe.
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).
37
T H I S D AY ˾ ˜ ͱͮ˜ ͰͮͰͰ
Ecobank Announces 334% Increase in Profit to N146.3bn in 2021
Kayode Tokede
Ecobank Transnational Incorporated (ETI) yesterday announced 334 per cent increase in its profit for the audited financial year ended December 31, 2021 to N146.3billion as against N33.7billion profit reported in the financial year ended December 31, 2020. The audited results showed profit before tax gaining 174 per
cent to N195.72billion in 2021 from N66.6billion reported in 2020. Key factors that contributed to the group’s profits for 2021 financial year was 14 per cent increase in gross earnings to N956.39billion in 2021 from N841.14billion in 2020, while Other operating income rose significantly by 142 per cent to close 2021 at N19.1billion from N7.91billion in 2020. As Total assets grew by 13 per
P R I C E S MAIN BOARD
F O R DEALS
cent to N11.7trillion in 2021, Loans and advances to customers up by 10 per cent to N4/06trillion in 2021. In addition to balance sheet, Deposits from customers grew by 14 per cent to N917.9 billion in 2021 financial year. The CEO, Ecobank Group. Ade Ayeyemi in a statement said: “The Bank made significant progress with its strategic priorities and delivered strong
S E C U R I T I E S MARKET PRICE
QUANTITY TRADED
business and financial returns. We grew revenues, remained efficient, improved credit quality, strengthened the balance sheet and, for the first time since 2016, our Board has recommended the payment of dividends to shareholders. “We increased profit before tax by $140 million to $478 million, after adjusting for the $164 million goodwill charge in 2020 and generated a record
T R A D E D
VALUE TRADED ( N )
MAIN BOARD
A S
return on tangible shareholders’ equity of 19%. Net revenues were $1.8 billion, up 5%, benefiting from our diversified operating model and the continued focus on growing our trade finance, payments, fixed income, currencies, and commodities businesses. Furthermore, the efficiency ratio of 58.9per cent was the best in over a decade,” Ayeyemi said. “Credit quality continues to be particularly strong,
O F
2 9
with non-performing loans at a historic low of 6.2per cent of total loans and a reduction in the concentration risk of the credit portfolio. Moreover, we proactively built provision reserves to above 100% of non-performing loans. In addition, deposit growth was robust, increasing by $1.4 billion, or eight per cent, which significantly boosted liquidity and supported our modest loan growth.
/ 0 3 / 2 0 2 2 DEALS
MARKET PRICE
QUANTITY TRADED
VALUE TRADED ( N)
38
WEDNESDAY, ͻ˜ ͺͺͺ ˾ T H I S D AY
Wednesday, March 30, 2022
dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ϭϱďƉƐ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĨĞůů ďLJ ϭϰďƉƐ dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ ĚŝƉƉĞĚ ϭϱďƉƐ ƚŽ ϭ͕ϵϳϴ͘ϬϮ ŝŶĚĞdž dŚĞ dŚŝƐĚĂLJ ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞdž ĚĞĐůŝŶĞĚ ďLJ ϭϰďƉƐ ƚŽ ƐĞƩůĞ
THISDAY AFRINVEST 40 INDEX
ƉŽŝŶƚƐ ŽŶ ĂĐĐŽƵŶƚ ŽĨ ƉƌŝĐĞ ĚĞĐůŝŶĞ ŝŶ E/d, ;Ͳϭ͘ϯйͿ͕ Ăƚ ϭ͕ϲϳϰ͘ϴϵ ƉŽŝŶƚƐ ĚƵĞ ƚŽ ƐĞůůͲƉƌĞƐƐƵƌĞ ŽŶ E/d, ;ͲϬ͘ϲйͿ͕ /Ed Z t ;ͲϭϬ͘ϬйͿ͕ ^d E / ƵŵƵůĂƟǀĞůLJ͕ t W K ;Ͳϭ͘ϯйͿ͕ ĂŶĚ ĂŶĚ h ;ͲϬ͘ϳйͿ͘ ;ͲϮ͘ϯйͿ͘ dŚĞƐĞ ƐƚŽĐŬƐ ĐƵŵƵůĂͲ
Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
ƚŚĞƐĞ ƐƚŽĐŬƐ ĂĐĐŽƵŶƚ ĨŽƌ ϳ͘ϴй ŽĨ ƚŚĞ ŝŶĚĞdž͘ ƟǀĞůLJ ĂĐĐŽƵŶƚ ĨŽƌ ϭϯ͘Ϯй͘
Current Price
Ticker
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THISDAY AFRINVEST 40
WƌĞǀŝŽƵƐ ĚĂLJ͕ ƉƌŝĐĞ ƵƉƟĐŬ ŝŶ ,KEz&>KhZ >ŽĐĂů ŽƵƌƐĞ džƚĞŶĚƐ >ŽƐƐĞƐ͘͘͘ ^/ ĚŽǁŶ Ϭ͘ϭй
1 Airtel Africa PLC 2 MTN Nigeria Communications PLC
;нϵ͘ϴйͿ͕ E' D ;нϯ͘ϯйͿ͕ ĂŶĚ & E, ;нϬ͘ϳйͿ ďŽůͲ zĞƐƚĞƌĚĂLJ͕ ƚŚĞ E'yͲ ^/ ĨĞůů Ϭ͘ϭй ƚŽ ϰϲ͕ϴϰϯ͘Ϭϵ ƉŽŝŶƚƐ ĚƵĞ
3 BUA Cement Plc 4 Guaranty Trust Holding Co PLC
ƐƚĞƌĞĚ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽŶ ƚŚĞ ůŽĐĂů ďŽƵƌƐĞ ĂƐ ƚŚĞ ůůͲ ƚŽ ƐĞůůͲŽīƐ ŝŶ /Ed Z t ;ͲϭϬ͘ϬйͿ͕ ^d E / ;ͲϮ͘ϯйͿ͕ ĂŶĚ ^ŚĂƌĞ ;Ͳϭ͘ϯйͿ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ ŝŶĚĞdž E/d, zd ƌŽƐĞ ƌĞƚƵƌŶ ĚƌŽƉƉĞĚ ďLJ ƚŽ ϭϭďƉƐ ;ƉƌĞǀŝŽƵƐůLJ ƚŽ ϯϵ͕ϱϱϬ͘ϯϲ ƉŽŝŶƚƐ͘ ŽŶƐĞƋƵĞŶƚůLJ͕ zd ůŽƐƐ ŝŵͲ ϵ͘ϳй ϵ͘ϴйͿ ǁŚŝůĞ ŝŶǀĞƐƚŽƌƐ ůŽƐƚ േϮϳ͘ϰďŶ ĂƐ
8 FBN Holdings Plc 9 Lafarge Africa PLC
േϮϯ͘ϰďŶ ƚŽ േϮϬ͘ϲƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝƚLJ ǁĂƐ ŵŝdžĞĚ ĂƐ ǀŽůƵŵĞ
ƚƌĂĚĞĚ ĚĞĐůŝŶĞĚ ďLJ Ϯϭ͘ϲй ƚŽ ϭϭϬ͘ϴŵ ƵŶŝƚƐ ǁŚŝůĞ ǀĂůƵĞ
13 Nigerian Brew eries PLC 14 SEPLAT Energy PLC
ƚLJ ǁĂŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĚŝƉƉĞĚ ϰϬ͘ϰй ĂŶĚ ϯϭ͘ϰй ƌĞƐƉĞĐƟǀĞůLJ ƚŽ Ϯϭϰ͘ϯŵ ƵŶŝƚƐ ĂŶĚ േϭ͘ϳďŶ͘
ďLJ ǀŽůƵŵĞ ǁĞƌĞ dZ E^ KZW ;ϭϭ͘ϵŵ ƵŶŝƚƐͿ͕ & E, ;ϭϭ͘ϭŵ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ƵŶŝƚƐͿ͕ ĂŶĚ K E K ;ϳ͘ϯŵ ƵŶŝƚƐͿ ǁŚŝůĞ E ^d> ;േϮ͘ϮďŶͿ͕ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ǁŝƚŚŝŶ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ
18 Flour Mills of Nigeria PLC 19 Fidelity Bank PLC
ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d ĂŶĚ /ŶĚƵƐƚƌŝĂů
E' D ;േϭϰϱ͘ϬŵͿ͕ ĂŶĚ 'd K ;േϭϯϰ͘ϴŵͿ ůĞĚ ďLJ ǀĂůƵĞ͘
20 AXA Mansard Insurance PLC 21 Dangote Sugar Refinery PLC
'ŽŽĚƐ ŝŶĚŝĐĞƐ ĐůŽƐĞĚ ŇĂƚ͘ dŚĞ ĂŶŬŝŶŐ ĂŶĚ Kŝů Θ 'ĂƐ
22 FCMB Group Plc 23 United Capital PLC
ŝŶĚŝĐĞƐ ůĞĚ ƚŚĞ ůŽƐĞƌƐ͕ ĚŽǁŶ ϭ͘Ϭй ĂŶĚ Ϭ͘ϱй ƌĞƐƉĞĐƟǀĞůLJ ĞĂƌŝƐŚ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ
24 Guinness Nigeria PLC 25 Transnational Corp of Nigeria
ĚƵĞ ƚŽ ƐĞůůͲŽīƐ ŝŶ &/ >/dz ;Ͳϰ͘ϵйͿ͕ E/d, ;Ͳϭ͘ϯйͿ͕ K EͲ ĐƌŽƐƐ ƐĞĐƚŽƌƐ ƵŶĚĞƌ ŽƵƌ ĐŽǀĞƌĂŐĞ͕ ƉĞƌĨŽƌŵĂŶĐĞ ǁĂƐ K ;Ͳϯ͘ϴйͿ͕ ĂŶĚ d ZE ;ͲϬ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ ŽŶƐƵŵĞƌ ďĞĂƌŝƐŚ ĂƐ ϰ ŝŶĚŝĐĞƐ ůŽƐƚ͕ ϭ ŝŶĚĞdž ŐĂŝŶĞĚ ǁŚŝůĞ ƚŚĞ &ZͲ/ d 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ ůŽƐƚ Ϭ͘ϯй ĂƉŝĞĐĞ ŽŶ ƚŚĞ ŝŶĚĞdž ƌĞŵĂŝŶĞĚ ŇĂƚ͘ dŽƉƉŝŶŐ ƚŚĞ ůĂŐŐĂƌĚƐ ĂƌĞ ƚŚĞ ŽŶƐƵŵͲ ďĂĐŬ ŽĨ ƐĞůů ƉƌĞƐƐƵƌĞ ŽŶ /Ed Z t ;ͲϭϬ͘ϬйͿ͕ ,KEz&>KhZ Ğƌ 'ŽŽĚƐ ĂŶĚ /ŶƐƵƌĂŶĐĞ ŝŶĚŝĐĞƐ͕ ĚŽǁŶ ϰ͘ϲй ĂŶĚ
hE/> s Z
;Ͳϯ͘ϱйͿ͕
>/E< ^^hZ
;Ͳϲ͘ϰйͿ͕
/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ͕ ŝŶŐ ŝŶĚŝĐĞƐ ĨĞůů ďLJ Ϭ͘Ϯй ĂŶĚ ϮďƉƐ ƌĞƐƉĞĐƟǀĞůLJ ĚƵĞ ƚŽ ƐĞůůͲ ǁĞĂŬĞŶĞĚ ƚŽ ͲϬ͘Ϭϯdž ĨƌŽŵ Ϭ͘ϬϬdž ŝŶ ƚŚĞ ƉƌŝŽƌ ƐĞƐƐŝŽŶ ĂƐ ϭϲ ŽīƐ ŝŶ K E K ;ͲϬ͘ϴйͿ͕ E/d, ;ͲϬ͘ϮйͿ͕ ĂŶĚ 'd K ;ͲϬ͘ϮйͿ͘
ƟŽŶ ŝŶ E' D ;нϯ͘ϯйͿ͘ ŵĞŶƚ ƌĞŵĂŝŶƐ ǁĞĂŬ͘
/ŶǀĞƐƚŽƌ ^ĞŶƟŵĞŶƚ ^ƚƌĞŶŐƚŚĞŶƐ /ŶǀĞƐƚŽƌƐ ƐĞŶƟŵĞŶƚ͕ ĂƐ ŵĞĂƐƵƌĞĚ ďLJ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ;ĂĚǀĂŶĐĞͬĚĞĐůŝŶĞ ƌĂƟŽͿ͕ ƐƚƌĞŶŐƚŚĞŶĞĚ͕ ƐĞƩůŝŶŐ Ăƚ ϭ͘ϲdž ĨƌŽŵ ϭ͘ϯdž ƌĞĐŽƌĚĞĚ ŝŶ ƚŚĞ ůĂƐƚ ƚƌĂĚŝŶŐ ƐĞƐƐŝŽŶ ĂƐ Ϯϰ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ ǁŚŝůĞ ϭϱ ƐƚŽĐŬƐ ĚĞĐůŝŶĞĚ͘ DZ^ ;нϵ͘ϵйͿ͕ D zͲ
^dK < ;Ͳϰ͘ϴйͿ ůĞĚ ůŽƐĞƌƐ͘ WƌĞǀŝŽƵƐ ĚĂLJ͕ ǁĞ ĞdžƉĞĐƚ ƚŚĞ ŵĂƌŬĞƚ ƐĞŶƟŵĞŶƚ ƚŽ ƌĞŵĂŝŶ ŵŝdžĞĚ͕ ĂƐ ĞĂƌŶŝŶŐƐ ƐĞĂƐŽŶ ŐƌĂĚƵĂůůLJ ǁŝŶĚƐ ƵƉ͘
15.0%
3.5%
5.2x
0.8x
5.7%
17.5%
1.5%
207.00
0.0%
8.3%
5.1%
5.1%
134.7%
14.1%
14.1x
21.8x
70.75
0.0%
6.9%
5.5%
5.5%
19.1%
11.2%
34.0x
6.4x
23.30
0.2%
5.6%
-10.4%
-10.4%
20.7%
3.3%
3.8x
5.0%
7.1%
0.8x
12.9%
26.4% 33.5%
2.9%
23.25
-1.3%
5.3%
-7.6%
-7.6%
20.4%
2.7%
3.0x
0.6x
13.3%
273.50
0.0%
4.5%
6.4%
6.4%
39.2%
16.3%
12.9x
4.8x
7.3%
7.8%
1,395.00
0.0%
3.0%
-10.4%
-10.4%
106.8%
15.6%
27.1x
31.8x
3.6%
3.7%
11.70
0.9%
3.3%
2.6%
2.6%
8.4%
0.8%
6.9x
0.6x
3.9%
14.5%
23.90
0.0%
3.2%
-0.2%
-0.2%
11.6%
8.4%
8.9x
1.0x
8.4%
11.2%
2.8%
7.0%
7.0%
17.9%
1.6%
2.2x
0.3x
8.5%
46.0%
7.75
0.6%
2.0%
-3.7%
-3.7%
15.8%
1.4%
2.3x
0.3x
12.9%
43.7% 13.1%
34.00
-2.3%
1.5%
-5.6%
-5.6%
15.1%
2.1%
7.6x
1.2x
12.0%
44.50
0.0%
1.4%
-11.0%
-11.0%
7.6%
2.7%
27.9x
2.1x
3.7%
3.6%
930.00
0.0%
2.2%
43.1%
43.1%
8.7%
4.1%
8.5x
0.7x
4.4%
11.8%
-10.3%
-3.9%
11.80
0.0%
1.8%
35.6%
35.6%
4.50
-10.0%
1.0%
-9.1%
-9.1%
143.50
0.0%
1.1%
1.1%
1.1%
36.5%
23.3%
9.7x
3.2x
31.05
0.2%
1.0%
9.5%
9.5%
15.9%
4.5%
4.8x
0.7x
3.12
-4.9%
0.7%
22.4%
22.4%
13.3%
1.3%
2.4x
0.3x
6.8%
42.2%
2.16
0.5%
0.5%
-6.9%
-6.9%
9.3%
3.0%
6.6x
0.6x
10.2%
15.1%
8.8x
11.3%
2.7x
5.7% 0.8x
36.8% -12.7% 10.3%
5.3%
21.0%
0.4%
-8.0%
-8.0%
17.4%
6.9%
0.5%
13.7%
13.7%
10.3%
1.1%
12.55
0.8%
0.5%
26.8%
26.8%
71.20
1.7%
0.6%
82.6%
82.6%
13.3%
6.0%
15.0x
1.9x
0.6%
6.7%
0.99
-1.0%
0.3%
3.1%
3.1%
11.1%
2.3%
5.3x
0.6x
1.0%
19.0%
26 Presco PLC 27 NASCON Allied Industries PLC
133.00
0.0%
0.4%
51.5%
51.5%
2.8x
0.8%
13.10
0.0%
0.3%
-0.8%
-0.8%
21.3%
6.9%
12.3x
2.5x
3.1%
8.1%
28 AIICO Insurance PLC 29 TotalEnergies Marketing Nigeri
0.66
-1.5%
0.2%
-5.7%
-5.7%
7.2%
1.1%
366.7x
0.7x
264.90
0.0%
0.3%
19.4%
19.4%
48.0%
9.5%
5.4x
2.2x
1.7%
18.6%
30 Custodian and Allied Insurance 31 Vitafoam Nigeria PLC 32 Unilever Nigeria PLC
37 NEM Insurance PLC 38 Sterling Bank PLC 39 Notore Chemical Industries Ltd 40 Transcorp Hotels Plc
T ic k er
1.5x
6.3%
0.3x
4.4%
2.5x
12.0%
0.3%
7.10
0.0%
0.2%
-10.1%
-10.1%
19.5%
5.5%
4.2x
0.8x
7.0%
24.0%
22.30
0.0%
0.2%
-0.9%
-0.9%
38.7%
16.0%
5.7x
2.0x
6.7%
17.5%
13.30
0.0%
0.2%
-8.3%
-8.3%
7.8%
4.9%
29.5x
1.2x
26.50
0.0%
0.2%
18.6%
18.6%
18.9%
2.4%
4.0x
0.8x
1.5%
25.0%
4.0%
6.25
0.0%
0.1%
5.9%
5.9%
7.1%
0.8%
7.0x
0.7x
4.81
-3.8%
0.1%
8.8%
8.8%
14.5%
2.6%
2.1x
0.3x
3.4%
0.92
0.0%
0.0%
27.8%
27.8%
14.1%
0.8%
4.0x
0.5x
4.3%
25.0%
0.0%
0.1%
-10.2%
-10.2%
35.6%
18.5%
6.3x
1.0x
4.6%
15.9%
2.0x
0.3x
3.3%
1.51
0.0%
0.1%
0.0%
0.0%
9.4%
0.9%
62.50
0.0%
0.1%
0.0%
0.0%
-28.3%
-6.1%
5.31
0.0%
0.0%
-1.3%
-1.3%
P ric e
2.4x 0.9x
1.4%
T o p 10 T r a d e s b y V o l u m e
P ric e C hg %
T ic k er
Vo lum e
P ric e C hg %
0.23
9.5%
F ID ELIT YB K
48.3
1.5%
FCM B
3.60
7.5%
GT C O
26.1
-1.3%
C UST OD IA N
7.50
7.1%
Z EN IT H B A N K
20.2
-1.1%
OA N D O
5.00
6.4%
UB A
18.3
-0.7%
A IIC O
0.70
6.1%
C UST OD IA N
17.5
7.1%
UB N
6.50
5.7%
FB NH
17.5
0.4%
C H A M P ION
2.15
5.4%
A IIC O
8.1
6.1%
F T N C OC OA
0.33
3.1%
UC A P
6.8
0.0%
F ID SON
8.15
3.0%
SOVR EN IN S
5.4
0.0%
F ID ELIT YB K
3.29
1.5%
ST ER LN B A N K
4.4
-3.8%
T o p 10 T r a d e s b y V a l u e
T o p 10 L o s e r s
R T B R ISC OE C H IP LC ST ER LN B A N K F LOUR M ILL
P ric e
P ric e C hg %
0.65
-9.7%
0.60
-9.1%
1.52
-3.8%
31.00
-3.1%
J A IZ B A N K
0.66
-2.9%
C UT IX
2.30
-2.1%
N GXGR OUP R OYA LEX GT C O
50.7% -13.8%
VER IT A SKA P
T ic k er
14.2% 48.3%
4.04
T o p 10 G a in e r s
LIN KA SSUR E
Afrinvest West Africa Limited
31.9%
Dividend Earnings Yield Yield
P/BV
0.0%
< Z ;нϵ͘ϴйͿ͕ ĂŶĚ ,KEz&>KhZ ;нϵ͘ϴйͿ ůĞĚ ŐĂŝŶĞƌƐ ǁŚŝůĞ dZ E^ ;Ͳϴ͘ϯйͿ͕ > ^ K ;Ͳϲ͘ϳйͿ͕ ĂŶĚ >/s Ͳ
97.8%
31.9%
P/E
9.3%
ŽŶǀĞƌƐĞůLJ͕ ƚŚĞ /ŶĚƵƐƚƌŝĂů 'ŽŽĚƐ ŝŶĚĞdž ǁĂƐ ƚŚĞ ůŽŶĞ ŐĂŝŶͲ ƐƚŽĐŬƐ ĂĚǀĂŶĐĞĚ͕ ϭϴ ĚĞĐůŝŶĞĚ ǁŚŝůĞ ϳϬ ĐůŽƐĞĚ ŇĂƚ͘ dŽĚĂLJ Ğƌ͕ ĂŶƟĐŝƉĂƚĞ ƵƉ ϭ͘ϴй ĚƌŝǀĞŶ ďLJ ƉƌŝĐĞ ĂƉƉƌĞĐŝĂͲ ǁĞ ĞdžƚĞŶĚĞĚ ƉƌŽĮƚͲƚĂŬŝŶŐ ĂƐ ŝŶǀĞƐƚŽƌ ƐĞŶƟͲ
6.7% 39.0%
ROA
3.40
35 Oando PLC 36 Wema Bank PLC
KƵƚůŽŽŬ ĂŶĚ D E^ Z ;ͲϮ͘ϮйͿ͘ ^ŝŵŝůĂƌůLJ͕ ƚŚĞ Kŝů Θ 'ĂƐ ĂŶĚ ĂŶŬͲ
0.0%
ROE
16.00
33 Julius Berger Nigeria PLC 34 Union Bank of Nigeria PLC
ϭ͘Ϯй ƌĞƐƉĞĐƟǀĞůLJ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƌŽĮƚͲƚĂŬŝŶŐ ŝŶ E ^d> ;Ͳ ;ͲϬ͘ϲйͿ͕ // K ;Ͳϭ͘ϱйͿ͕ ĂŶĚ s Z/d ^< W ;Ͳϴ͘ϳйͿ͘
-0.15%
9.95
15 Ecobank Transnational Inc 16 International Brew eries PLC 17 Okomu Oil Palm PLC
ƚƌĂĚĞĚ ƌŽƐĞ ďLJ ϴϴ͘ϱй ƚŽ േϯ͘ϭďŶ͘ dŚĞ ŵŽƐƚ ƚƌĂĚĞĚ ƐƚŽĐŬƐ
ϵ͘ϭйͿ͕
1,260.00
5 Zenith Bank PLC 6 Dangote Cement PLC 7 Nestle Nigeria PLC
10 Access Bank PLC 11 United Bank for Africa PLC 12 Stanbic IBTC Holdings PLC
ƉƌŽǀĞĚ ƚŽ Ͳϭ͘ϴй ǁŚŝůĞ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ƌŽƐĞ ďLJ
ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝƐĂƟŽŶ ĚĞĐůŝŶĞĚ ƚŽ േϮϱ͘ϮƚŶ͘ dƌĂĚŝŶŐ ĂĐƟǀŝͲ
1978.02
Price Previous Price Current Change Price Change Weighting Index to Change YTD Date
0.50
-2.0%
23.00
-1.9%
1.25
-1.6%
23.00
-1.3%
T ic k er
Value
P ric e C hg %
GT C O
606.9
-1.3%
Z EN IT H B A N K
540.4
-1.1%
FB NH
210.0
0.4%
F ID ELIT YB K
157.3
1.5%
M TNN
152.3
-0.7%
UB A
139.7
-0.7%
C UST OD IA N
125.2
7.1%
A IR T ELA F R I
124.8
0.0%
GUIN N ESS
92.6
0.0%
N GXGR OUP
90.1
-1.9%
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
THURSDAY MARCH 30, 2022 • T H I S D AY
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THURSDAY MARCH 30, 2022 •T H I S D AY
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WEDNESDAY, ͻ˜ ͺͺͺ ˾ T H I S D AY
FORTY-ONE SCORES FEARED KIDNAPPED IN TERRORISTS’ DAREDEVIL RAID ON KADUNA TRAIN ill-fated trip, only a little over 362 checked in and boarded, out of which eight passengers were killed in the attack, 26 injured, and dozens still missing, while several others were unaccounted for at the time of filing this report. One of the eye-witnesses, who had been hauled into one of the small buses brought by the criminals and later escaped, told THISDAY that from all that he personally saw that evening, it was a well-organised operation, as all the terrorists had a walkie-talkie each for ease of communications. The lucky passenger, who claimed to have followed their conversations after being put on one of the small bus, said he could hear them in one of their conversations, saying they needed to tidy up the operations and leave quickly, because they didn’t have much time left, apparently being fed with requisite information from those on the other side of the communication. This passenger, however, said it was on the basis of this, that he took his chances and jumped out of the bus through the window, saying although they turned back to look at him, they hadn’t the time to chase after one victim, when there were scores others already in their net. “They looked at me and also checked their time, and realised there was no time to look for me and just zoomed off,” the source said, explaining that he took advantage of having followed their communication. The eye-witness, who said he could recognise all of them if brought for identification, emphasised the fact that they were not only organised but had a rich network of contacts that made their operations and coordination smooth. While confirming that they took with them many of the passengers, the number of which he could not verify, he said they targeted VIP coach upon demobilising the train, where he was seated too, and started first by shooting the security men onboard the train. He noted that there were many security men on the train, who obviously were not on the manifest, because they were not added, stressing further that at least, about six of them might have been
killed in the operation, aside the eight passengers, who were not so lucky. Unfortunately, while the development had sounded the alarm bell across the country and exposing the growing insecurity, Monday’s attack was not the first time that the Kajuru station came under threat by terrorists, who had wanted to make an incursion into that sector of the economy. They Were Small Boys, Not Nigerians, Who Kept Shouting Allahuhakubar, Survivors Recount Ordeal However, some of the other survivors of the train attack, have also begun to share their own ordeals too in the hands of their attackers, saying those who attacked them seemed more like non-Nigerians and ‘small boys’ between the ages of 18 and 20, who shouted Allahuhakubar repeatedly as they rained bullets on the train. Three of the the survivors at the St. Gerald Catholic hospital, however, described their ordeal as horrible. One of the survivors, Maimuna Ibrahim, who was shot on the thigh, said it was a horrible experience. “We saw hell. I prayed and prayed and prayed,” she said, adding, “I went to a workshop in Abuja in the morning and I was on may back to Kaduna that same day after the workshop. I was shot on the thigh. But the bullet did not touch my bone. The bullet penetrated out of my thigh. “Honestly, we suffered seriously, but thank God soldiers came and they really helped us”, she said, adding that, she was unable to walk after she was shot and soldiers had to carry her out of the train to a vehicle by the expressway. “I was unable to walk, it was the soldiers, who carried me on the back to a the vehicle that brought us to the hospital. They were able to pass over the cliff, carrying us on their backs. Seriously, they tried, because it was not easy climbing the cliff,” she said. According to her, “The terrorists were moving about in the train, but they did not come to where I was seated. I was hit by the bullet through the window. They entered SP17. As they were shooting, the police security on the train asked us
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to lie down on the floor of the train so that the bullet will not get at us. “Unfortunately before I could lie down, the bullet hit me. I saw the terrorists from the window. They were many, they were small boys of between the ages of 18 and 20. They appeared like Fulani. They wore turbans. They don’t look like Nigerians. They were shouting Allahakubar. “They abducted some people. I saw them forcing people out of the train. They were beating them as they were taking them out of the train. They were shouting Allahuhakubar, Allahuhakubar as the shot sporadically,” she said. Speaking too from her hospital bed, another survivor, Fatima Shuaibu, a student of College of Education, Gidan Waya, Kaduna State, said her sister was killed in the attack. She was being treated for dislocation on her right leg. “My sister, Zainab Awal, was shot on the stomach and she died,” she said amid tears. Shuaibu said she was seated by the window when she started noticing flashes of touch lights. Initially, she thought it was the villagers around the area, but when she suddenly heard a loud explosion and the train went off track, she knew there was trouble as her heart started palpitating. She said, “I was seated by the window in the train. Suddenly, I started seeing flashes of touch light, this was around 8pm. Then, there was a loud bang as if something exploded. Then the train went off track as if was falling down. We started shouting and praying. “As soon as the train stopped, we started hearing gunshots. The security personnel on the train announced that everybody should lie down on the floor of the train. They attacked the VIP couch, they abducted some people and took them to the bush, they shot other people. They operated for about two hours or so before soldiers and Airforce arrived and they exchanged gunshots. “The terrorists came with five Sharon buses and motorcycles. Those who were abducted were taken away in the Sharon buses. The terrorists were small boys of between 18 to 20 years. I saw them, they don't look like Nigerians. The soldiers rescued us in the train. Those of us who were injured were evacuated from the train. They climbed the cliff with us and took us to the expressway, where vehicles were brought to carry people. On his part, also from his hospital bed at St. Gerald, Mohammed Isa, who was shot on his right arm,
said the whole episode was like a dream. “I was seated by the window and they shot me on the right arm. There was an explosion and the train lost control and went off track. All of a sudden, they started shooting at the train from afar, then, they started coming closer. When they got to the train, they attempted to force the door open, but they couldn’t. So they shot at the door and it opened. “They were speaking Hausa. It took quite some time before soldiers came and they exchanged fire with them,” he said, corroborating the accounts of others. Yusuf Idris, ex- spokesman to Zamfara State’s former deputy governor, said Alhaji Ibrahim Wakkala was shot in the leg and was currently receiving treatment in a medical facility in Kaduna. “He is responding to treatment very well. He is answering phone calls in his bed. I spoke to him and several other people spoke to him also. There is no cause for alarm,” Yusuf said. At the Army, hospital, journalists were prevented from seeing the victims. Meanwhile, the Kaduna State Governor, Mallam Nasir El-Rufai, has visited victims of the attacks in the hospitals. In a statement issued after visiting the 44 Nigerian Army Referral Hospital and St. Gerald Catholic Hospital on Tuesday, the state government condemned the terrorist attack on the Kaduna-Abuja train. The statement expressed sympathy and solidarity with all the passengers, and extended its condolence to the families of the those that died in the attack. The statement signed by Muyiwa Adekeye, spokesman to El-Rufai, stated that, the governor and his deputy Dr. Hadiza Balarabe, had visited the injured in hospitals. “The governor prays for the peaceful repose of the souls of the deceased persons and wishes the injured persons speedy recovery,” the statement stated, stressing that, “while the evacuation of passengers from the scene of the attack has been completed, efforts are still being made to account for all the passengers, crew and security officers that were on the train.”
Buhari: No One Will Hold Us to Ransom, Orders Military to Be Ruthless, Directs Integrated Security Surveillance
Meanwhile, President Muhammadu Buhari, yesterday, in his first reaction to Monday’s terrorists’ attack
NIGERIA'S MULTIPLE, OVERLAPPING TAX SYSTEM WORRIES BUHARI in Nigeria. ''On our part, we have started by clarifying in the 2021 Finance Act that FIRS is the sole authority to administer tax for the federal government. ''This clarification became necessary in order to avoid taxpayers being burdened with multiple tax compliance obligations towards different agencies of the same government", the president said at the dialogue with the theme: ''Tax Harmonisation for Enhanced Revenue Generation.” In the face of dwindling revenues from commodities, Buhari told participants that there was an urgent need to maximise domestic revenue within the extant tax policy and laws. He, therefore, proposed improved tax revenue for the country which would not necessarily impose new tax rates on Nigerians. ''We all know that good intentions are not enough as they simply cannot pay for infrastructure, security or social amenities. We must therefore improve tax revenue without necessarily raising new taxes. ''Revenue from commodities, including crude oil, are too volatile and unreliable. Therefore, I pledge government’s support for any viable initiative for improving tax revenue that should emanate from this dialogue,’’ he said. On Nigeria’s tax-to-GDP ratio, the president declared that the country also needs to do more in securing a buoyant domestic revenue base of the country that bequeaths an enduring economic foundation,
political stability and social harmony to the next generation. ''According to the Organisation of Economic Cooperation and Development (OECD), in its Revenue Statistics in Africa 2021, the average ratio of Tax-to-GDP of 30 selected African countries in 2019 was 16.6 per cent while Nigeria recorded a mere six per cent. ''It is obvious that much needs to be done in the area of tax revenue mobilisation. 'It is my expectation that the discussions at this 2022 National Tax Dialogue will be focused on what we must do to maximise legitimate revenue collection and massively improve the tax-to-GDP ratio. '' On the importance of the tax dialogue, which was instituted by the Minister of Finance, Budget and National Planning, and the Executive Chairman, Federal Inland Revenue Service (FIRS), Buhari noted that the first edition in 2021, was productive and integral in influencing tax policy, as well as legislative and administrative changes that were introduced last year. He added that the most important testament to the success of the first edition was the fact that the FIRS achieved 100 per cent of its collection target in 2021 and surpassed N6 trillion revenue threshold for the very first time. Congratulating the FIRS on the achievement, the president assured Nigerians that the present administration would continue to maintain prudent management of the collective resources. Earlier in her remarks, the
Minister of Finance, Budget and National Planning, Zainab Ahmed, said the dialogue was designed to engage stakeholders in the Nigerian tax-space in meaningful discourse so as to glean information, ideas and experience in the aid of policy formulation and improved tax environment. According to her, he main tax revenue objectives of the federal government included developing an economy that does not lean too heavily on resource wealth. She explained that Nigeria’s economic history provides enough facts that resource wealth alone cannot lead to sustainable development, self-sufficiency and sustainable. According to her: "The other tax revenue objectives are: ''To institutionalise a healthy tax culture among Nigerians. The right attitude towards taxation will enable every Nigerian to become a co-guardian of the tax system and the commonwealth. ''To create a participatory system of taxation whereby the taxpayers and other stakeholders understand and accept that they have equal stakes in the tax system.'' Also speaking, the Chairman of FIRS, Muhammad Nami, thanked the president for his directive to government agencies to enable FIRS connect to their ICT systems; noting that this singular pronouncement softened the grounds for the Service to roll-out its system for seamless acquisition of data. He said: ''We are confident that by the time all the agencies achieve 100 per cent compliance with the
president’s directive, Nigeria shall be the envy of other countries for tax compliance and domestic tax revenue mobilisation." On the remittances of the FIRS to the Federation Account, Nami announced that statistics from March 2022 Federation Account Allocation Committee (FAAC) meeting show that out of a total revenue of N803.072 billion from all revenue agencies, tax revenue contributed by FIRS was N513.522 billion (63.94%) while non-tax revenue from all other agencies amounted to N289.55 billion (36.06%). He noted that that the average tax or FIRS contribution to FAAC in 2021 was 59.45%. ''I mentioned in my welcome address to the 2021 edition of the Tax Dialogue that the world had begun a tax race of which Nigeria must be a winner. ''The revenue profile of the country in 2021 has clearly shown that our continued survival as a nation depends on tax revenue. ''This trend is set to continue for some time to come. As such, all hands must be on deck to support the tax system and make it function efficiently. ''However, it is surprising that some people have begun to play politics with tax revenue generation. ''We humbly invite the President to step-in to dissuade political tax gladiators to sheath their swords. Tax revenue is an inherently apolitical issue; it should be treated as such by all, irrespective of their political leaning", the FIRS Chairman said.
on an Abuja-Kaduna train, which killed many people and left several hospitalised, said his government would not let anyone hold Nigeria to ransom. The president, who reiterated his call on the military to be ruthless with terrorists and other criminal elements, however, directed the security agencies to arrest the perpetrators of the attack and also ensure, without further delay, the release of all the kidnapped passengers on the ill-fated train. In addition, the president has further ordered the immediate implementation of integrated security surveillance for the Abuja-Kaduna and Lagos-Ibadan rail lines. On his part, the Minister of Transportation, Rotimi Amaechi, who visited the scene of the attack, yesterday, confirmed the death of eight passengers, and 41 others said to be receiving treatment at the hospital, while putting the total number of the passengers on board the train at 398. However, new information emerging from the attack, has shown that the Secretary-General of the Trade Union Congress (TUC), Barrister Musa Lawal Ozigi, and a lady medical doctor with the St. Gerald’s Hospital, Chinelo Megafu, were among those killed by the terrorists. A former deputy governor of Zamfara State, Malam Ibrahim Wakkala, who was also on the train, reportedly sustained a gunshot wound on the leg, and among those currently receiving treatment at the hospital. At the same time, the Managing Director of the Bank of the Agriculture (BoA), Alwan Ali Hassan, and his niece, were reported to be part of the missing passengers on the train. Buhari gave the directive at the State House, Abuja, after being briefed by the Chief of Defence Staff (CDS), General Lucky Irabor and service chiefs as well as the Inspector General of Police, among other top military officers, about the attack by terrorists on the Kaduna bound passenger train. He charged the security chiefs to bring back all passengers kidnapped and ensure that each of the terrorists were hunted down and made to face justice for their heinous acts as no one or group should be allowed to make the country prostrate. President Buhari, who reiterated his earlier directive that the military should deal ruthlessly with terrorists, asked them to be more decisive and not spare anyone unlawfully wielding the AK 47 weapon. "No one should be allowed to hold the country to ransom," the President said as he strongly condemned the bombing of the passenger train, which he described as a “matter of grave concern.” According to him, “Like most Nigerians, I am deeply pained by this occurrence, the second of its type, which has resulted in the death of a yet to be determined number of passengers and others, who suffered injuries. “The attack on the train, a safe means of transport to many, is callous; and our thoughts are with the families of the deceased and prayers for the injured," he said. The President commended the Law Enforcement agencies for their prompt response and emergency personnel, who were responsible for the evacuation and treatment of the injured persons. He also directed the immediate conclusion of all the processes for the implementation of the integrated security surveillance and monitoring solution for the Abuja to Kaduna railway line, adding that this be extended to cover the Lagos-Ibadan railway line. He further directed the Nigerian Railway Corporation (NRC) management to speedily repair the damaged lines and resume normal service without delay. Briefing newsmen after the closed door meeting with the president, the Chief of Defence Staff, General Irabor said, “We have come to brief the President regarding the unfortunate incident of yesterday, where some criminals, bandits had gone to lay improvised explosive devices on the rail tracks and a passenger train was demobilised and seven Nigerians were killed, 29 others wounded and some were kidnapped and we are
yet to establish the exact number. “So, we went to the scene this morning, inspected the entire area and gave out instructions on what is to be done and we have come to brief the president on this development.” The CDS said security agencies would build on the lessons they have learnt from the latest incident, while assuring Nigerians that the military and other security agencies would not rest on their oars until everywhere was secured. According to him, “The challenge of insecurity is a constant one and so the defence and security agencies need to be on their toes 24/7. This is unfortunate and we believe that the lessons out of this are what we need to build upon going forward. “I can, perhaps, use this opportunity to reassure the nation that based on the President’s directive, we will take every necessary action, not just to apprehend those behind this dastardly act, but for them to also face justice. Going forward, certainly there will be greater security for the nation and I will like to urge everybody to go about their normal duties." Apart from the CDS, others who took turns to brief the president were the Chief of Army Staff, Lt-General Faruk Yahaya; Chief of Air Staff, Air Marshal Isiaka Amao; Inspector General of Police, Usman Baba, as well as the Chief of Defence Intelligence, Major General Samuel Adebayo and the Director General of the Department of State Services (DSS),Yusuf Magaji Bichi.
Amaechi Confirms Death of 8 Passengers, 41 Hospitalised
Minister of Transportation, Mr. Chibuike Rotimi Amaechi, yesterday, confirmed the death of eight passengers, and hinted that 41 persons were currently receiving treatment at a undisclosed hospital following Monday’s terrorists attack on an Abuja-Kaduna train. Amaechi, speaking to the press after inspecting the scene of the bomb blast at Rijana, along the Abuja-Kaduna rail corridor, put the total number of passengers at 398. "We don't have all the figures of missing persons, kidnapped and those injured at the moment. The numbers we have is that there are eight death and 41 passengers at the hospital. "So, we have to wait on the security and the Kaduna State government and the Nigerian Railway Corporation are all trying to make contact with those on the manifest," he said. Amaechi added that there were a few persons, who were not on the manifest like the staff of the NRC, staff of the cleaning contractor, were not on the manifest and might not be able to completely account for them, noting that for those on the manifest, calls were being made to reach them. "We have not being able to install the security sensors, because the procurement process is a bit difficult. It is typical of Nigerians. To shorten the process and save lives like this but because the process is tedious, the approval is also tedious, we have not been able to get that approval that will lead to purchase those items. "If those items were here, drones alone will tell you that there are people around the rail tracks, because there are drones, there are equipment that pick sensors if you touch the track but unfortunately the process has not been able to get us that approval for us to import those items. So, for me, I am devastated and I honestly don't know what to tell Nigerians anymore," he said. He explained that the cameras in the train could not pick what was happening outside, stating, "What you need is a camera that shows 100 metres away from the train, there are unknown things carrying gun. Then, we can take precaution but we have done all we need to do in the ministry of transport and we have forward to them for approval but we have not gotten approval. "The patrol vehicles are available but they cannot reach everywhere. For the areas the patrol can patrol, it will forestall. We are thinking about the possibility of employing natives until we get those equipment. We also need helicopters, beyond the Continued on page 44
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WEDNESDAY, ͻ˜ ͺͺͺ ˾ T H I S D AY
NEWS
Kwankwaso Resigns from PDP, Joins NNPP Ibrahim Shuaibu in Kano Former governor of Kano State, Alhaji Rabiu Musa Kwankwaso
has resigned from the opposition People’s Democratic Party (PDP). Kwankwaso resigned his membership from PDP in a letter
dated March 29, which he sent to the ward Chairman of Kwankwaso in Madobi Local Government Area of Kano State yesterday.
Part of the letter read: "It is with deep sense of responsibility that I write to notify you, that as a result of some serious and irreconcilable differ-
Buhari Seeks Senate Nod for INEC RECnominee, Four Others as NURC Commissioners Sunday Aborisade in Abuja
The Senate yesterday received a formal request from President Muhammadu Buhari to confirm four nominees as Executive Commissioners of the Nigerian Upstream Regulatory Commission (NURC). The request was contained in a letter dated March 24, 2022, and read during plenary by the Senate President, Ahmad Lawan. The letter was entitled, “Request
for confirmation of appointment of four Executive Commissioners for Nigerian Upstream Regulatory Commission.” It read in part, “In accordance with the provision of Section 11(3) of the Petroleum Industry Act 2021, I hereby forward for confirmation by the Senate, the appointment of the under-listed four nominees as Executive Commissioners for the Board of the Nigerian Upstream Regulatory Commission.” Those nominated by the presi-
dent for confirmation included: Dr. Nuhu Habib (North West, Kano State), Commissioner, Development and Production; and Dr. Kelechi Onyekachi Ofoegbu (South East, Imo State), Commissioner, Economic Regulation and Strategic Planning. Others were Capt. Tonlagha Roland John (South-South, Delta State), Commissioner, Health, Safety, Environment and Community; and Jide Adeola (North Central, Kogi State), Commissioner, Corporate Services and Administration.
In a separate letter addressed to the Senate President and also read on the floor, Buhari requested the chamber to confirm the nomination of Dr. Hale Gabriel Longpet as Resident Electoral Commissioner representing Plateau State at the Independent National Electoral Commission (INEC). The president explained that the request was made in accordance with the provision of Section 154 of the 1999 Constitution of the Federal Republic of Nigeria (as amended).
ences, I have reached the conclusion that my continued stay in the PDP is untenable and therefore effective from today, Tuesday 29th day of March, 2022, I have withdrawn my membership form the PDP." Kwankwaso's resignation has put off speculation that he was leaving the party for another party believed to be New Nigerian Peoples Party (NNPP). The former senator had also announced that he would join the NNPP at the end of March. On Sunday, PDP was thrown into confusion following the formal exit of Abba Kabir Yusuf and his running mate, Mr. Aminu Abdulsalam Gwarzo, its candidate in 2019 general elections into the NNPP. Yusuf, had lost the governorship battle to Dr. Abdullahi Umar Ganduje, the incumbent governor of the state in the run off three years ago. Yusuf’s defection to the NNPP came on the heels of rumour of
alleged plot by his political godfather, Kwankwaso to join the party. THISDAY gathered that the Kwankwasiyya faction dominated the PDP in the state, and their exit may have reduced the political fortunes of the platform as the nation marched towards the 2023 General election. Kwankwaso had last month launched The National Movement, a third force ahead of the 2023 elections, with a promise of a better Nigeria. He had said it was the collective desire of the movement to rescue Nigeria from the socio-economic quagmire the country was currently going through. “The mission of the National Movement is to ensure that Nigeria shall be a land of justice, freedom and equal opportunities, where all citizens shall aspire to achieve their lifetime goals and ambitions, to live in peace, prosperity, and happiness,” he had said.
Audit query: Kyari Refutes Report of Missing 107 Million Barrels of Crude Oil
Udora Orizu in Abuja
The Group Managing Director of Nigerian National Petroleum Company (NNPC) Limited, Mr. Mele Kyari has assured the House of Representatives that the oil company has nothing to hide following the indictment of its 17 subsidiaries by the Office of the Auditor General for the Federation (OAuGF) over financial infractions between 2014 and 2019. The GMD also dismissed media reports that about 107 million barrel of crude oil could not be accounted for in 2018. Kyari who made these known while addressing members of the House of Representatives Committee on Public Accounts (PAC) at the resumed investigative hearing on the report of the Auditor General, however said he would take responsibility for the actions of the subsidiaries. He promised the lawmakers that the NNPC and its subsidiaries would appear before them next Tuesday to respond to the audit queries. He said, "First, let me clarify an issue. NNPC has nothing to hide. We have nothing to hide from Nigerians. In view of that, we have published the same audited account that you have for Nigerians to see, read and comment on. “Those accounts are a complete reflection of all our transactions, including our subsidiary companies. So, we are hiding nothing from Nigerians. I agree with you that we can be more transparent. Can we do something different from this? Absolutely yes. Are we doing
enough? Yes, we are doing more than enough. “No national oil company in this world publishes its audited statement of account. There is no company that publishes its monthly report as we do. "Therefore, I expect that you should congratulate us that we are doing more than expectations in terms of transparency and accountability. We owe this to Nigerians because it is their company and we sincerely believe that this companies art owned by the over 200 million Nigerians, we are accountable to them and we must be transparent by every means possible. “But as we do this, we must also recognise that we are running a business on their behalf and this business has rules and responsibilities and part of it is to have report of this nature which the Auditor General endorses by law for them to deliver on. But have it at the back of your mind that we have nothing to hide." Speaking on media reports that about 107 million barrel of crude oil could not be accounted for in 2018, he said: “Two weeks ago, it was in all the media that 107 million barrels of crude was stolen or diverted. You will not appreciate the evil of bad image this has created for our country. “Our lending partners have called me that this is a wrong approach and that they will not lend to us without clarifying issues. Auditor General is here and we are in the same country. We are all serving this country. Continued online
ACCESS BANK'S TRANSFORMATIONAL JOURNEY... L-R: Managing Director, Access Bank, Roosevelt Ogbonna; Group Head, Communications and External Affairs, Amaechi Okobi; and GMD/CEO, Access Holdings Plc, PHOTO: SUNDAY ADIGUN Herbert Wigwe, during the executive lunch with the media on the bank’s transformational journey in Lagos... yesterday
USAID-IHP Wants Expedited Action on Universal Health Coverage in Bauchi Segun Awofadeji in Bauchi
A United States Agency for International Development(USAID) funded Integrated Health Program (IHP) has emphasised the need
for a multi-sectoral partnership as well as a sustained and strategic advocacy by the media that would expedite action on the delivery of Universal Health Coverage (UHC) in Bauchi state.
Ogun Empowers 22,000 Residents James Sowole in Abeokuta Ogun State Governor, Dapo Abiodun said his administration has given economic empowerment to no fewer than 22,000 residents of the state. Specifically, the governor said the Agricultural and Multipurpose Credit Agency (OSAMCA) has disbursed over N850 million to beneficiaries across Ogun State, to further create employment opportunities and generate wealth to the people. The governor made this known while declaring open the 11th Gateway International Trade Fair with the theme: "Harnessing the Agricultural Value Chain for Sustainable Industrial Development," organised by the Ogun State Chambers of Commerce Mine and Agriculture (OGUNCCIMA) at Abeokuta. A statement quoted Abiodun
to have said: "The OSAMCA has disbursed well over N850 million to 22,000 beneficiaries throughout the state. This is part of our efforts to create employment opportunities and generate wealth. I want to call on our people to take advantage of this opportunity and expand their business capacity." The governor added that his administration had inaugurated Business Environment Council in a bid to promote and facilitate trade, declaring that the initiative had also created an avenue for entrepreneurs to seamlessly float their respective businesses in Ogun He further hinted that the automation of Business Permit (BPP) launched last year, was to improve the state's Ease of Doing Business, noting that it would safe time, increase revenue and reduce leakages. While pointing out that the trade fair was an opportunity to explore
the agricultural and industrial sectors to further sustain the state's economy, Abiodun disclosed that the state, has been selected as one of the states in the country for the implementation of the Special Agro Processing Industrial Zone supported by the African Finance Development Bank, International Fund for Agricultural Development (IFAD) and the federal government. He maintained that the Special Agro Processing Industrial Zone to be based at the Agro-Cargo Airport at Ilishan-Remo, would process agriculture produce before they are exported. The governor commended OGUNCCIMA for its positive impact in promoting trade and investments and being a rallying point for traders and buyers, pledging that his administration would assist the body to increase the level of commercial and industrial activities in the State.
Also speaking, the Commissioner for Industry, Trade and Investment, Mrs. Kikelomo Longe, noted that the trade fair, has impacted positively on micro, small and medium scale enterprises (MSMEs) by offering market opportunities and the platform for networking among entrepreneurs. On his part, Commissioner for Agriculture, Dr. Adeola Odedina stated that the present administration has transformed the state's agricultural sector enabling farmers to produce raw materials and linking farmers with industries. In his welcome address, President, OGUNCCIMA, Wasiu Olaleye, said the trade fair was part of efforts to raise the agricultural and industrial profile of the state in addition to various initiatives of the government, including the Public Private Partnership policy aimed at creating enabling environment for businesses to flourish.
In a keynote remarks at the opening of a two-day Media Engagement workshop on Health Insurance Program, organised by USAID-IHP in collaboration with Bauchi State Health Contributory Management Agency (BASHCMA), which held in Bauchi, the State Director IHP, Dr. Alhassan Siaka stressed that a lot needed to be done to improve health coverage in the state. According to him, there are challenges in terms of access to healthcare services by majority of the people, stating that out of the population of 5.3 million in the state, only 50,000 were covered. The IHP State Director opined that it does not matter how much the state government invest in primary healthcare centers in terms of human resources, commodities and infrastructures, if there were no citizens to offer health services. "We realise that in a state like Bauchi where we have 5.3 million out of the estimated eight million population who are classified as extremely poor, it is going to be extremely difficult for this segment of the population to continually pay for healthcare services out of their pocket. "We thought we should bring the attention of the media to this
aspect of challenges to accessing primary health care, that a lot needs to be done to improve health insurance coverage for the people of Bauchi State. “There are three elements of health insurance which include formal health insurance, informal health insurance and the Vulnerable people who do not have resources to pay for their health insurance," he said He said something needed to be done drastically to ensure that the vulnerable population access health care services, adding that to surmount the challenge requires the state government taking the responsibility very seriously and the federal government doubling its efforts in that regard. In his presentation on the benefits of Health Insurance and the Role of the Media in Bauchi State, the State IHP Health Financing Advisor, Khalid Kasimu said in Bauchi, there had been huge investment in the health sector, noting however that only few people have access to quality health care services. He said that the role of the media as gate keepers was to influence social behaviour change communication, adding that the media was largely responsible for shaping societal discourse.
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NEWS
COURTESY VISIT... L-R: Chief Financial Officer, Lagos Free Zone Company (promoted by Tolaram Group), Mr. Ashish Khemka; Managing Director, First City Monument Bank (FCMB), Mrs. Yemisi Edun and Executive Director, Wholesale Banking, FCMB, Mr. Obaro Odeghe, during a visit by the management of the bank to Lagos Free Zone in Ibeju-Lekki, Lagos…recently
HOS Makes Case for Robust Gender Parity for Nigerian Women Oluchi Chibuzor The Head of the Civil Service of the Federation (HOCSF), Dr. Folasade Yemi-Esan has stressed the need to create robust policies to promote gender parity in the country. She maintained that in the 21st century issues of gender balance and the need to accord women equal opportunities and allow them to achieve their full potential in societies have continued to gain momentum globally.
Speaking during a webinar recently organised by First Leadership Academy, a subsidiary of TL First Group, Yemi-Esan said despite an increase in the number of women occupying management positions around the globe, it was pertinent to note that the number was far away from the desired target. Citing a global gender parity research in which Nigeria was not included by the World Economic Forum which noted that efforts to close the global gender gap
increased from 99.5 years to 135.6 years, while in Sub-Saharan Africa where gender parity sits at 67.2 percent, the gap can be closed slightly quicker in 121.7 years. She acknowledged that the evidence outlined in the report suggested that, “health emergencies and economic downturn have impacted women more severely than men, amplifying existing gender gaps and partially reopening gaps that are already been closed. “This tells us that much needs
to be done in order to achieve our aims and objectives. With the array of dynamic executives present from the public and private sector it will go a long way in building a strong pipeline for women with key leadership traits to dominate corporate boardrooms and to maintain gender balance in our nation." Represented by the Director, Leadership Management and Succession Planning, Mrs. Azeez Atinuke Margaret, the HOS acknowledged effort of President
Universities' Curriculum Must Be Innovative, Technology-driven, Says Fayemi Victor Ogunje in Ado Ekiti Ekiti State Governor, Dr. Kayode Fayemi yesterday stressed the need to rework the current curriculum of Nigerian universities in order to revive the country's debilitating tertiary education. Precisely, he said the present curriculum should be patterned towards making graduates innovative and technology savvy. Fayemi said the litany of crises confronting the nation could be subdued and addressed with innovative ideas and meaningful contributions from scholars, widely regarded as the nation's eggheads and reservoirs of knowledge. The governor said this while speaking at the combined 25th and 26th convocation and 40th anniversary of the Ekiti State University (EKSU), Ado-Ekiti, where 16,428 graduands were conferred with different degrees. Expressing regret over the decline in the quality of education at the tertiary level, the governor advised stakeholders in the education sector to bring forth innovative ideas that would help in revamping the nation's university system. Fayemi, who was represented by the Commissioner for Education, Dr. Bimpe Aderiye, said his administration would continue to play its role in the areas of financial and moral support towards making the university a world class ivory tower. "It is important to note that no problem is insurmountable,
a confirmation that the current challenges in our nation and the world at large, bothering on security, economy and politics and challenges that we will all overcome individually and collectively if we can persevere and look inwards. "The government on its part shall continue to support the good initiatives and innovation put up by the university management and would not renege in doing what is considered best for the university in all circumstances. “Our government is not relenting and will leave no stone unturned until the wishes and aspirations of the founding fathers of our dear university are met," he added. While commending the university management for their untiring efforts and the rapid transformation being witnessed in the institution, the governor revealed that the latest Webometric ranking which placed EKSU as the 14th overall best and 2nd best state university among all universities in the country. He congratulated the graduands for the successful completion of their programmes in the university, advising them to put to use all they have learnt in the four walls of the university, urging them to be problem solvers in the society. In his submission, the Vice Chancellor of EKSU, Professor Edward Olanipekun said the university in the last 40 years had made significant milestones in its core mandates, noting, "the past 40 years in our university has been a period of growth, trials and
tempest. " In his admonition to the graduands, the VC said, " As you leave this university as our valued ambassadors , please do
not forget that learning continues throughout life, I can see in you a mix of new entrepreneurs, potentials employers and bundle of talents going into the labour market."
Buhari-led administration in ensuring gender equity and equality in the appointment of women into vital Ministries, Departments and Agencies (MDAs) across federal agencies. “There is no doubt that the President Buhari led administration is sensitive to gender equality and appointment of women into vital ministries such as finance, budget and national planning etc, are seen as tremendous achievements that cannot be overemphasised," she stated. Earlier, the Group Managing Director, TL First Group, Dr. Olu Olasode, mentioned that celebrating International Women’s Day should not just be about appreciating women, “it should also be about doing something to address the imbalance in leadership and management." However, Yemi-Esan, added that, “the involvement of women in nation-building is an inalienable
right as well as inescapable reality for holistic and comprehensive political, economical and social advancement in the modern world. Over time, some women who have been entrusted with leading roles to manage human and material resources have more often than not proved that with adequate backing they can perform credibly. “While some progress has been made to overhaul impediments that limit their chances to contribute to development, a lot still needs to be done in the area of decision making. “According to the United Nations, investing in women and respecting their rights is the surest way to uplift communities, organisations, countries and as well as achieve the 2030 agenda for sustainable development," she said. The programme was designed to highlight women's accomplishments in overcoming obstacles on their leadership journey.
Comply with Court Judgement, Constitute NDDC Board Now, Group Urges Malami Sylvester Idowu in Warri A Niger Delta group, Vanguard for Transparent Leadership and Democracy (VATLAD), has advised the Attorney General and Minister of Justice, Abubakar Malami to immediately comply with the judgement of the Federal High Court, Yenagoa, ordering him to constitute the Governing board of Niger Delta Development Commission (NDDC). The group maintained that just as he promptly reacted to a ruling on 84(12) of the Electoral Act 2022 by a Federal High Court in Umuahia, the Minister of Justice should also respond immediately to the Yenagoa order for the immediate constitution of the NDDC board. VATLAD, in a statement signed by its National President, Mr. Igbini Odafe Emmanuel explained: "Like 84 (12) of the Electoral Act 2022, AGF Abubakar Malami must immediately obey the court's order to inaugurate the Governing Board of NDDC, among other orders. "We indeed received with very sincere and full gratitude, the
patriotic decision of Hon. Justice Isa Dashen of the Federal High Court, sitting in Yenegoa, Bayelsa State, ordering the Hon. Attorney General of the Federation and Minister of Justice, Abubakar Malami, to immediately allow the inauguration of the substantive Governing Board of the Niger Delta Development Commission (NDDC) which was since year 2019 confirmed by the Nigerian Senate," it stated. The group recalled that the list of the proposed board of NDDC was presented to the National Assembly by President Muhammadu Buhari in line with provisions of the NDDC Act 2000, as amended, but it was unjustifiably put on hold allegedly to allow for the forensic auditing of the Commission, an exercise that has since been concluded and the Report submitted to the president through the AGF. VATLAD therefore called on and demanded that the Minister of Justice should immediately and unconditionally carry out the orders of the Federal High Court, the same way he speedily carried out the
orders given by the Federal High Court, Umuahia to delete Section 84(12) of the Electoral Act 2022 which Malami has consistently and publicly demanded of the Nigerian Senate to do. "We hasten to remind the Minister of Justice that the Nigerian Senate has on many occasions directed the this Board be immediately inaugurated to serve the people of the Niger Delta region. "The AGF must obey and immediately carry out this Order of the Federal High Court, Yenegoa, to prove beyond all reasonable doubt that he is not the single person who has been the obstruction to the inauguration of this substantive Board of NDDC since year 2019," it added. The group lamented that the present situation where a sole administrator was running the affairs of NDDC, even though unconstitutional, had allegedly given room to some elites in the region to turn the commission into their automatic teller machine (ATM). "We want to hasten to remind
President Buhari of our previous Advice to him and APC that they must be mindful of being misled to violate the clear position of the NDDC Act which stipulates that only the Nigerian Senate screened and confirmed Board is to manage and administer the NDDC. Nobody else under any guise. "There is no doubt that since 2019 that the NDDC has been placed under the authority of unlawful and illegal one-man sole administrator, the lives of the people of the Niger Delta Region have regrettably continued to witnessed Hopelessness due to sudden absence of NDDC's projects and supports in the region. "All they are forced to do daily is sit back and watch on television or read in the newspapers, the commissioning of massive projects like Dangote Fertilizer Complex, Dangote Refinery, pyramids of rice and maize, mega rail stations and rail lines, modern airports, kilometers of bridges and dual carriage roads, all taking place in other non-oil producing states of Nigeria", it added.
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WEDNESDAY, ͻ˜ ͺͺͺ ˾ T H I S D AY
NEWS SCORES FEARED KIDNAPPED IN TERRORISTS’ DAREDEVIL RAID ON KADUNA TRAIN drones, we need helicopters." On the suspension of the train service, Amaechi said, "The Kaduna state government has advised that we stop it but on whether there is a need, there is a need, because there are those who work in Abuja and go back home in Kaduna. So, we have to provide those service but if it’s going to make us lose lives, we may have to stop it but I don't think that is the solution. "The solution is not in running away from the militants or the bandits; the solution is providing the technology that lets you know that they are around. If it lets you know that you are around, there are two actions to take – either for the security men to go after them or you don't ply within that period but the agencies that need to give us approval have to give us the approval, because we need to purchase those items. "No matter the cost, you cannot equate it with the eight lives that were lost. The equipment were just N3 billion and we are about to place order for the one in Lagos but we need to know what is happening on the track, it is everywhere in the world. The ministry of transport has finished everything, the other agencies are not under me." On perimetre fencing, Amaechi said: "The man was doing it but he was not paid and even for areas that have the fencing, they are being demolished and it is high enough to protect one from criminals; it is just for cows. "What we need is technology that lets you know that there are human activities or foreign activities on the track, that way, you can secure the locomotive and secure lives and I had warned earlier that it is important they get us this approval, because human lives would be involved. Since that warning till today, we have had two incident. “What kind of due process is that? When I say due process, it does not necessarily mean BPP but whatever agency it is, they need to get us approval so that we can get out of cabinet. Even if they get us approval, it will take some months to acquire them from overseas to install them. “We need to do that to enable us see from Kaduna-Abuja, ItakpeWarri and from Lagos-Ibadan what is going on so that we don't continue to lose lives, because lives are important. If we don't do that, more persons will die. The cost was about N3 billion and the damage here is more than N3 billion. So, if we had gotten the approval, we would have saved the N3 billion and saved lives."
TUC, NMA, NBA, NBTE Suffer Casualties
As Nigerians and the world continue to mourn with families of those who lost people in the Monday train attack in Kaduna, information trickling in has indicated that the Trade Union Congress of Nigeria (TUC), the Nigerian Medical Association (NMA), the Nigerian Bar Association (NBA), and the National Board for Technical Education (NBTE), also suffered casualties of various categories. While some of the associations were still in search of their members, presumed to have been kidnapped by the terrorists, others have identified their members as among those who suffered injuries and were being treated, while some had announced outright, the passing of their members. The TUC, an official statement stated, lost its Secretary General, Comrade Musa-Lawal Ozigi, and the Kwara State Chairman, Comrade Akin Akinsola to the train attack, whilst on their way to Kaduna for an official assignment slated for yesterday. The NMA too has expressed sadness over the death of one of its members, Dr Chinelo Megafu Nwando, in the terror attack. President of the association, Prof. Innocent Ujah, said in a statement by its National Publicity Secretary, Dr Aniekeme Uwah, that the body was deeply saddened by the tragic, horrific and preventable death of Nigerians during the incident. Nwando was reported to have lost her life from injuries sustained from gun shots, when the train she travelled in from Abuja to Kaduna was attacked by suspected bandits.
The NBA, on its part, lost Tibilere Mosugu and Farida Sulaiman, to the cold hands of death. The death of Tibilere Mosugu was confirmed by the NBA Kaduna Branch in an obituary announcement signed by Oguguo C. Anoruo-Enujekwu, publicity secretary of the branch, which prayed for the repose of the soul of the lawyer. TheNigeriaLawyer also reportedly learnt that one of its members, Farida Sulaiman, died in the train bomb last. She was practicing with Yahaya Mahmood & Co. Similarly, a director with the NBTE, Abdu Isa Kofa Mata, was killed during the attack. A family source, who confirmed the development, said the deceased was buried in Kano yesterday by 4pm.
Bank of Agriculture MD, Niece Among Missing Passengers
The Managing Director of the Bank of the Agriculture (BoA), Alwan Ali Hassan, has been reported as one of the missing passengers in the Abuja-Kaduna train attacked by terrorists on Monday. Reports had it that Hassan appeared to be one of the victims whisked away by the terrorists with cars they brought to the crime scene. A source told a national daily that Hassan’s line had since been switched off from the time of the attack. The source added that Hassan boarded the evening train going to Kaduna with one of his nieces. “We cannot tell if he has been kidnapped or not but we are worried, because we have been unable to reach him since yesterday. His phone lines have been switched off and no one has contacted the bank or any of his family members,” the source close to his family stated.
Senate Tells Military to Bombard Terrorists’ Enclaves
The Senate, yesterday, called on the Army and Airforce to, as a matter of urgency, bombard terrorist enclaves with a view to restoring peace and stability in the country. The call was made amid resolutions reached, following a point of order raised on “the continuing attacks on communities and public facilities in Kaduna State.” The point of order was raised by Senator Uba Sani (Kaduna Central). The lawmaker, noted that terrorists had in recent times stepped up attacks on some communities and public facilities in Kaduna State. “The latest attacks by these murderous elements took place in some communities in Giwa Local Government, namely Angwan Sarki Yahya, Tashar Shari, Bare-Bari, Tsaunin Natal, Dillalai, Durumi and Jatin Kanwa, all on Yakawada Ward. “Other places affected include Kaya community, Mai kyauro and Fatika. They killed 50 persons and kidnapped o 100 people. They also made strategic roads in Giwa Local Government no go areas. Not done with their devilish acts, they made an attempt to penetrate the Kaduna International Airport. “Although the attack was foiled by vigilant security operatives, one person lost his life. When people were trying to come to grips with a week-long wanton destruction of lives and property, the terrorists struck again.” He, therefore, bemoaned the attacks by bandits on a Kaduna bound train carrying over 970 passengers around Kateri-Rijana axis in Kaduna, just a few kilometers to the Rigasa Train Station in Igabi Local Government Area of the State. Sani observed that the forests where the terrorists held sway were not impregnable, adding that, “a comprehensive operational plan, executed with high sense of professionalism and responsibility, total commitment on the part of our security forces and the support and cooperation of the local communities will rid Kaduna State forests of these murderous elements.” Contributing, Senator Gabriel Suswam lamented that Kaduna had become the new theatre of insecurity and said the lingering activities of terrorists in the state made it imperative for the appropriate authorities to take decisive action. Senator Danjuma La’ah, said if the security situation in the country was not nipped in the bud, political leaders would become the main
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government that they are in control and can attack anywhere, anytime as they want. It shows that the nation's security architecture has collapsed completely and overwhelmed by this monstrous bandits and terrorists that have made life unbearable for Nigerians.”
Gbajabiamila Commiserates with Grieving Families, Says House to Investigate Attack
Speaker of the House of Representatives, Hon. Femi Gbajabiamila, has commiserated with families, &$$ who lost their loved ones in the ! Monday attack by terrorists on %)$ an Abuja-Kaduna bound train, saying his spirit was wounded %$$ by the tragic attack. Gbajabiamila, in a condolence )$ message, said the losses to insecurity &* + in the last two decades were needless $ and must end. The speaker said the lawmak ers had resolved to investigate the circumstances of the tragic attack and the security response, to understand why these security The House urged the federal urged the different security agencies breaches continued to occur despite targets of terrorists. The Senate, accordingly, in its government through the NSA, in the country to remain resolute ongoing investments. resolutions, urged President Buhari, Chief of Defense Staff, the Inspector in the fight against terrorism in He challenged security agencies to declare full scale war against General of Police and heads of other the country. to redouble their efforts in finding Up Your Game, Northern urgent solutions to the repeated terrorists, so as to fully secure all security agencies, to holistically our national territory from them intervene by setting up a Special Senators Charge Security Agencies killings. Senators from the North under Security task Force on Airports in whatever guise. "My heart goes out to the families, the auspice of the Northern Senators who are now living through an across the country. It urged the Federal Ministry of Forum (NSF), yesterday, expressed experience that no one should ever Attack is Horrifying, Barbaric, Aviation, FAAN and other security shock and outrage over the Monday endure. The dead, wounded and Say Northern Governors The Northern Governors Forum, agencies to put a more proactive night attack on Kaduna-bound train, missing are our brothers and sisters has expressed shock and fury measure in securing airports, includ- and asked the military to re-strategise going about their lives. They had over the attack on a train along ing a modern security surveillance in handling the security situation families and friends waiting for them in the North West. Kaduna-Abuja route by terrorists, equipment on the perimeter. to come home last night. Some of The forum’s chairman and former them will never go home again. saying the attack was horrifying, The resolutions of the lawmakers barbaric, and totally reprehensible. were sequel to the adoption of a governor of Sokoto State, Senator “Others will live the rest of their Chairman of the Forum and motion of urgent national importance Aliyu Magatakarda Wamakko, said lives with the memory and injury of Governor of Plateau State, Simon sponsored by Chairman Committee the attack was a direct dare at the this tragic encounter. I commiserate Lalong, while responding to the on Aviation, Hon. Nnolim Nnaji Nigerian state and its security forces. with the families of the dead and Wamakko, who is also chairman pray for a quick recovery for the development in a statement signed at plenary, yesterday by his director of press, Simon Moving the motion, Nnaji of the Senate Committee on Defence, injured. I strongly urge the national Macham, said, “The entire governors recalled that about a year ago, said the loss of lives of innocent security agencies to find and account and people of the region as well as armed bandits attacked the staff and defenceless Nigerians must for all the passengers, who boarded other Nigerians are distressed over quarters the Federal Airports be halted immediately. that train and whose whereabouts The senators described the attack remain unknown to their families the unfortunate attack on innocent Authority of Nigeria (FAAN), at commuters by terrorists, who have the Kaduna International Airport as “heinous and unforgivable” and and loved ones.” charged the security agencies to demonstrated total disregard for and abducted about 12 persons. human lives and compassion.” He noted that on Friday, 25th come together and pursue the AbdulRazaq Mourns Death of Encouraging security forces to day of March, 2022, there was a criminals. TUC Chair, Others “It is devastating hearing about intensify their search and rescue horrific armed banditry attack at Kwara State Governor, Alhaji efforts in ensuring that those the Kaduna International Airport, the outrageous attack, which was AbdulRahman AbdulRazaq, yeskidnapped were released without culminating in the death of a security brought to the fore, yet again, the terday, commiserated with the further delay and the fleeing terror- guard of the Nigerian Airspace nature of the problem we are labour unions and the family of dealing with. ists were arrested and brought to Management Agency. the state council of the Trade Union “It is sad that the precious Congress (TUC) chairman, Comrade He expressed concerns that the justice, the governors sympathised lives of defenceless citizens get armed banditry attacks at Kaduna with the families of those killed as Akinsola Akinwunmi, who died in well as those kidnapped or injured. International Airport might escalate perished in the hands of callous the Kaduna train attack. The forum also commended to other airports across the country, and merciless terrorists,” Wamakko In a statement by the governor's said in the statement released in Chief Press Secretary, Mr. Rafiu the armed forces for their quick if not checkmated. He also worried that no one was Abuja yesterday, adding that, “This Ajakaye, the governor said, “I intervention, which prevented further escalation of the incident. safe to travel by air if positive steps is yet another wake-up call not only send our heartfelt condolences to Lalong said the Forum was work- were not taken urgently to safeguard for our security forces, but indeed the family of the trade union leader ing with the federal government and airports from banditry attacks, con- all Nigerians - to wake up and be as well as the labour communities Governor Nasir Elrufai of Kaduna sidering the international standards more decisive in ending this menace. in the state. “We condole with His Excellency State to ensure that the incident on airport security management "It is my prayer to God to console and other recent terrorist attacks as outlined by International Civil President Muhammadu Buhari, the all that mourn this fine gentleman at Kaduna State Government as well this very sad moment. I also condole on communities in Kaduna were Aviation Organisation (ICAO). Contributing, the Deputy Minority as families and associates of those with the families of all the other dealt with decisively. He called for the support and col- Leader, Hon. Toby Okechukwu, who lost their lives in the attack. victims of the dastardly attack". laboration of citizens by volunteering lamented that terrorists were now But as a tribute to those lost in the relevant information about criminal essential threats to the country and attack we must ensure that their NSIA Gives Police Patrol lives do not go in vain by bringing Vehicles to Boost Highway elements throughout the region and Nigeria was hemorrhaging. Hon. Onofiok Luke urged the the perpetrators to book.” the country, as well as supporting Security the armed forces to carry out their executive, legislature, federal, state The Managing Director/Chief mandate of security of lives and and local governments, to come PANDEF: Attack Is a Executive, Nigeria Sovereign Investtogether and proffer solutions and National Embarrassment properties effectively. ment Authority (NSIA), Mr. Uche The governors said more provide security for Nigerians, The Pan Niger Delta Forum Orji, yesterday, formally handed-over investments were being made which was the primary objective (PANDEF), has described Monday's 16 patrol vehicles to the Inspectorinto the security sector by state of government. bombing of an Abuja- Kaduna train General of Police, IGP Usman Alkali governments within the region by terrorists as a national embarrass- Baba, to improve the security of the as part of the collaboration with Obi: Worsening Insecurity ment and monumental indictment Abuja-Kaduna-Kano road. the federal government to boost Depressing, Disheartening of the nation's security agencies. He said the gesture was extremely the capacity of the security forces Reacting to the ugly incident in an important for the NSIA and for A former governor of Anambra to be on top of the situation. State, Peter Obi, has described as interview with THISDAY yesterday, the Nigerian people in view of shocking, the recent terror attacks PANDEF's National Publicity the current security challenges on on Kaduna Airport and on Abuja- Secretary, Hon Ken Robinson, House Summons Monguno, highways. Amaechi, Sirika, Baba, Others Kaduna bound train, saying the was of the view that the nation's theThis came as the police IG said The House of Representatives worsening level of insecurity across security architecture has collapsed seven people lost their lives while has invited some of the key security the country was depressing and as the terrorists were clearly sending 29 persons sustained injuries in a message to government that they Monday's train attack along the chiefs in the country, including disheartening. Obi, a presidential aspirant for were in control and could attack Abuja- Kaduna route. supervisory ministers for a meeting over the recent attack on an the 2023 elections, in a statement anywhere, anytime as they wanted. Orji paid his respect and conThe group bemoaned the silence dolences to the victims of the train from his Media Office, said the terror Abuja-Kaduna train. Those invited included the attacks in Kaduna and different parts of the federal government on the attack, adding that the development National Security Adviser (NSA), of the country, had become very incident, particularly, the silence of was a constant reminder of the Major General Babagana Monguno worrisome and should serve as a the Minister of Information, Lai challenges Nigerians face with (rtd); Minister of Defence, Bashir wake up call for the government Mohammed, whom it described security, which the police were at Magashi; Minister of Transport, to beef up the country's security as someone quick to accuse people the forefront to fight. Rotimi Amaechi; Minister of architecture and be more proactive of trying to destabilise Nigeria. He said the donation which was While sympathizing with families directed by President Muhammadu Aviation, Hadi Sirika; Chief of Air in handling security issues. He lamented that the challenges of the those, who lost their lives Buhari was to “ensure that the work Staff Air Marshal, Isiaka Amao;and Inspector General of Police, Usman of insecurity would be too much in the horrific incident, the Forum continues to get done and while of a burden on Nigerians already called on President Buhari to do it’s not sufficient in any way, we Alkali Baba. Other heads of agencies expected battling with hardship and poverty. the needful by discarding his hope it will help”. The former Anambra governor nepotic disposition and act as the at the meeting starting today inResponding, the IGP said the clude, Nigerian Airspace Manage- explained that the worsening level Commander in Chief of the Armed donation came at a time Nigerians ment Agency (NAMA), Department of insecurity further aggravated the Forces, Federal Republic of Nigeria. were mourning the dastardly acts “The Abuja Attack is a National of the "few ones in our society or of Security Services (DSS), Nigerian negative performance of Nigeria's embarrassment and a monumental community that will not want to Civil Aviation Authority (NCAA), economy. While condoling with the families indictment of the nation's security leave us in peace. Managing Railway Corporation and Federal Airports Authority of the bereaved and sympathising agencies. These terrorists are clearly with the traumatised passengers, Obi sending a message to Nigerian of Nigeria (FAAN). Continued online &)$
WEDNESDAY MARCH 30, 2022 ˾ T H I S D AY
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NEWS
Ortom: I’ve No Reason to Resign from PDP Zoning Committee
Chuks Okocha in Abuja
Benue State Governor, Samuel Ortom has said that he has no reason to resign as the Chairman of the Peoples Democratic Party (PDP) Zoning Committee ahead of the 2023 general elections. The governor was reacting to a news item credited to Arewa Youths Consultative Forum (AYCF) led by one Yerima Shettima who had accused governor Ortom of compromising his position for receiving his Rivers state counterpart, Governor Nyesom Wike in Makurdi, the Benue State capital. Wike was in Makurdi Sunday, March 28 where he declared his presidential ambition to contest for the 2023 presidential elections. Shettima had alleged that the N200 million donated by Governor Wike to help rebuild the burnt Katsina Ala and High Level Makurdi markets in Benue state was to compromise Ortom. But in swift reaction, Ortom berated Shettima for being insensitive to the plight of the distressed people of Benue and wondered how a gesture to distressed people would
compromise him. “I am shocked that some people can be insensitive to the plights of others who are distressed. What my brother
Governor Wike did was to identify with our pains and offered succor to the best of his ability,” he said. Ortom pointed out that he is
only “first among equals and not a dictator to impose any idea on members of the PDP zoning committee who are distinguished Nigerians who
have excelled in their careers in life. So, for anyone or group to come out to suggest that one man will impose his will on the other 36 members is insulting.”
“Members of this committee will work out the best for this country and Nigeria will be better for the outcome of our assignment,” he stated.
SECURITY ON THEIR MINDS…
L-R:The Executive Secretary of Accra Initiative, Mr. Ben Derek; the National Security Adviser, Maj.-Gen. Babagana Monguno; the Minister of National Security in Ghana, Hon. Albert Kan-Dapaah; Nigeria’s High Commissioner to Ghana, Admiral Ibok-Ete Ekwe Ibas (rtd) after Nigeria joined Accra Initiative in Ghana…recently
Journalist, 17 Others N800bn Judgment: Shell MD, Others Ordered to Appear April 8 Abducted in Delta
Sylvester Idowu inWarri
The Bayelsa State Correspondent of Guardian newspapers, Julius Osahon, has been kidnapped along East-West road by Ewreni community in Ughelli North Local Government area of Delta State. Osahon was abducted along with 17 others by armed hoodlums on Monday night while on his way to Warri from his base in Yenagoa. It was gathered that the driver of the transport company, Sunny Eru motors, was shot dead while the passengers were whisked
away into the bush. The gunmen have reportedly established contact with the journalist’s wife, demanding N5 million ransom for his release. A Warri-based lawyer, Mr. Lucky Egboyi, who said he escaped the scene by the whiskers, told journalists in Warri that they were returning from Bayelsa State when they ran into the herdsmen operating on the road. “It was a narrow escape for me and a few others because we had to run into the bush. The policemen who came ran away with their van,” he claimed.
Edo APC Faults New Electoral Law, to Boycott LG Election Adibe Emenyonu in Benin City The All Progressives Congress (APC) has faulted the new Edo State Independent Electoral Commission (EDSIEC) law, saying it does not conform with Electoral Act of 2022. The APC also said it would contest the new law in court and also pull out of the local government election which the law is meant for. Speaking through its Publicity Secretary yesterday, Peter Uwadiae, the party said it is worrisome that a democratically elected government would engage in activities that run contrary to the law, adding
that there is no provision in this year’s budget to run an election that will require a humongous amount. The APC said: “The most important part of law, a 90-day notice to the parties, has now been shortened to 20 days which should not have been done without the input of the people. In conducting the election, there must be a synergy between the Electoral Act and EDSIEC law. In other words, the provision of the EDSIEC law should not run contrary to the provisions of the Electoral Act. And if the law runs contrary to the Act, the Electoral Act should take precedence.
)RUXP ([SUHVVHV &RQÀGHQFH in APC Women Leader
The All Progressive Congress (APC) Progressive Young Women Forum (APC-PYWF) has congratulated the new National Women Leader of the party, Dr Betta Edu, saying she would perform creditably. In a statement signed by the President of APC-PYWF, Seun Bosede Osamaye and the National Publicity Secretary, Theresa Tekenah, the forum
expressed confidence that Edu in discharging the functions of her office, would work competently, with dedication, excellence and high purpose, to help the party advance its policy and governance priorities. The APC-PYWF urge all party members to support the new women leader, as the women wing has a lot to benefit from her varied skills.
The Court of Appeal sitting in Owerri, Imo State yesterday ordered the Managing Director and the other three management staff of Shell Petroleum Company to appear before it on April 8, 2022 to show cause why they should not be committed to the cordial centre for contempt of court. The MD and other management staff had been ordered to appear yesterday. But they failed to show up and the court took serious exception to their conduct. In their ruling on the application to commit them for contempt,
the court ordered that they must personally appear on 8th April 2022 to show cause why they should not be committed for contempt for failing to deposit the judgment sum in court as directed. The matter now stands adjourned to 8th April 2022 for the personal appearance of the Shell MD and his key directors. The three-man appeal court presided over by the Honourable Justice Rita Pemu had on March 23, expressed displeasure of the management of Shell for
disobeying two court ruling against the company. The judge said that Shell had disobeyed the lower court ruling and they ran to the appellate court and it also ruled that Shell should deposit the N800 billion against it to the court of appeal hidden account still the company disobeyed the ruling. However, counsel to Shell, Chief J.J. Onanigbo Okpoko, a senior advocate of Nigeria (SAN) said his client would appeal the ruling. Shell had applied for motion seeking an order staying the
execution of the Federal High Court judgment in appeal number CA/OW/498/20 and appeal number CA/OW/490/20 respectively. On the other hand, counsel to 1st to 88th respondents, Mohammed Ndarant Mohammed, a senior advocate of Nigeria prayed the court to ignore the motion for an order staying execution and urged the court to mandate the appellants to deposit the money in an interest account pending the final determination of the appeal.
Octogenarian, Others Protest Non-payment of N1bn Demolition Compensation in Osun Yinka Kolawole in Osogbo An 85-year-old, landlord, who led other landlords and landladies in a peaceful protest over the Osun State Government refusal to pay them over N1 billion compensation for demolition of their houses in order to pave way for road construction, has called for
immediate payment of their entitlement. The octogenarian, who led the affected Landlords and Landladies Association in the protest, carried placards with various inscriptions, urging the state governor to “redeem your pledge and pay us our compensation, our people are dying.” among other inscriptions
The affected landlords and landladies were drawn from Olokoro, Olonda, Old Garage, Ajegunle, and Igbona among other areas in the state. Speaking with THISDAY, the Chairman of Landlord and Landladies Association, Mr. Oladejo Moshood, said no fewer than 14 affected persons have reportedly died since 2012
till date. He said the deceased persons have waited for a long time for the government to pay their compensation for demolishing their houses but all to no avail. According to him, apart from those who have died, many who are still alive are facing serious challenges with their families.
Soludo Submits List of 20 Commissioner-nominees to Assembly Governor Charles Soludo of Anambra has submitted a list of 20 Commissioner-nominees to the state House of Assembly for approval. The Speaker of the House, Mr. Uche Okafor, announced this at yesterday’s plenary while reading a letter from Soludo, dated March 28. Okafor said the governor also sent another letter requesting the confirmation of 15 Special
Adviser-nominees. The Speaker, however, asked the House Committee on Screening to screen the commissioner-nominees. The majority leader moved a motion for the confirmation of the 15 special advisers and they were approved after a voice vote. Some of the commissioner nominees are: Mr. Ifeatu Chinedu, Prof. Ofonze
Amucheazi; Mr. Ifeanyi Okoma; Ms. Chiamaka Nnake;Dr. Afam Obidike; Mr. Patrick Aghamba; Mrs. Ifeyinwa Obinabo; Dr Obinna Ugonnadi; Mr. Julius Chukwuemeka and Prof. Ngozi Chuma-Udeh. Others include: Mr. Paul Nwosu; Dr Foster Ihejiofor; Mrs. Patricia Igwebuike, Mr Felix Odimegwu, Mr. Chikodi Anara, Prof. Chika Ifemeje; Mr. Collins Nwabunwanne;
Mr. Donatus Onyeji; Mr. Anthony Ifeanya and Mr. Paulinus Onyeaka. Also at plenary, the house read a resolution urging Soludo to appeal to the Commissioner of Police in the state to return checkpoints and patrol teams across the state. The house resolution followed a motion raised by Mr Onyebuchi Offor, representing Ekwusigo Constituency, (PDP).
Police Foil Hoodlums’ Attack on Dangote Refinery, Kill One Chiemelie Ezeobi
Attempts by armed hoodlums to attack Dangote Refinery in Lagos was on Monday foiled by operatives attached to the Lagos State Police Command. THISDAY gathered that hoodlums numbering about 20 invaded the refinery located
at the Lekki Free Trade Zone through the waters. Having gained access to the refinery, they made to cart away installed armoured cables but were repelled by security operatives guarding the place. However, one of the hoodlums, who was said to have been shot during the gun
duel, died on the way to the hospital. Confirming the incident, the state Police Spokesperson, SP Benjamin Hundeyin, said one of the hoodlums was killed during a gun battle that ensued, adding that others fled the scene. He said: “One of the hoodlums was hit in the
ensuing gunfire and died on the way to the hospital. Investigation has commenced with a view to arresting the fleeing attackers. “Meanwhile, on the directive of the Commissioner of Police, Lagos State Command, CP Abiodun Alabi, security at the refinery has been fortified.”
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WEDNESDAY MARCH 30, 2021 ˾ T H I S D AY
NEWS XTRA
Buhari, Osinbajo, Fashola, Governors Shun Tinubu’s Birthday Colloquium Celebrant cancels event to mourn victims of train tragedy
President Muhammadu Buhari, his vice, Professor Yemi Osinbajo; the Minister of Works, Babatunde Raji Fashola and almost all the governor across the country were conspicuously absent at the 13th Colloquium of Asiwaju Bola Ahmed Tinubu held at Eko Hotel and Suites, Lagos yesterday. Neither did the president, who was supposed to be the chairman of the event, nor his vice sent representatives or apologies for their absence at the event which was to commemorate the 70th birthday anniversary of the National Leader of the All Progressives Congress (APC). Only the host Governor, Babajide Sanwo-Olu of Lagos, Gboyega Oyetola of Osun and Abdullai Ganduje of Kano were present. The Secretary to the Government of the Federation, Boss Mustapha sent a permanent secretary in his office.Senator Kashim Shetima, a former governor of Bornu state was also present. As the invited dignitaries for event
which was billed to start at 1.00pm failed to show up as at about 3.00pm, Senator Tinubu climbed the stage to announce the cancellation. However, he gave tragic attack of the train traveling between Abuja and Kaduna where over 60 persons lost their lives as reason for the cancellation. According to him, as a statesman and leader in the country, it would be wrong for him to be celebrating while the nation is mourning. He disclosed that he would have cancelled the event earlier if he had been aware that a tragedy of such magnitude had happened place in the country. Conspicuously absent were: Ogun State Governor, Prince Dapo Abiodun;Ondo State Governor, Arakunrin Rotimi Akeredolu; Ekiti State Governor, Dr. Kayode Fayemi; former Osun State Governor, Rauf Aregbesola; former Edo State Governor, Adams Oshiomhole; Speaker, House of Representatives
and supporter of Tinubu, Hon. Femi Gbajabiamila, among other top members of the All Progressives Congress (APC). However, present were: the Ooni of Ife, Oba Adeyeye Ogunwusi, Senators Tokunbo Abiru, Ganiyu Solomon, Abiola Olamilekan, Musiliu Obanikoro, Ibikunle Amosun and the wife of the celebrant, Senator Oluremi Tinubu. Others include: the wife of the former Governor of the state, Mrs. Abimbola Jakande, the Chief Judge of the state, Justice Kazeem Alogba, the Asagba of Asaba, Obi Chike Edozien who was represented, Oba Federick Akinruntan, the Olugbode of Ugbodaga, former Deputy Governors in Lagos state, Princess Orelope Adefolure and Idiat Adegbule; Chief Opral Benson, the Iya Oge of Lagos; the Deji of Akure, Aremo Olusegun Osoba, Alake of Egbaland the National Secretary of the APC, Chief Iyiola Omisore and supporters of the national leader from the Lagos chapter of the APC.
Two Jailed 34 Years in Ekiti for Raping Minor Victor Ogunje in Ado Ekiti Ekiti State High Court in Ado Ekiti has sentenced a 32-year old Martins Ifebuchi and 19-year old John Joseph to 34 years imprisonment for raping a minor. The defendants were sentenced each to 17-year jail term on twocount charge of conspiracy and rape of a 15 -year -old girl on May 8, 2021, in Ajilosun area of Ado Ekiti. In his judgment yesterday, Justice
Adeniyi Familoni said: “Offence of rape is a heinous crime; an act of utmost inhumanity that is devastatingly damaging. It becomes worse when the victim is a person of tender years, as in this case. “The defendants deserve such punishment that should serve as deterrent to others with similar tendencies. “Conclusively, I hold that the prosecution had successfully proved the alleged offences of conspiracy
and rape against the defendants beyond reasonable doubt as required by law. “Consequently, the defendants are found guilty of the offences of conspiracy to rape and rape of the 15- year-old girl on May 8, 2021. “The defendants are each sentenced to seven years imprisonment on the count of conspiracy, and 10 years imprisonment each on the count of rape without any option of fine.
Four Die, 15 in Police Net as Cultists Clash in Kogi residents to move their family from Ibrahim Oyewale in Lokoja
The renewed hostilities between two cult groups have claimed the lives of four persons, while about five houses were razed in Kabawa, a native area in Lokoja, the state capital. THISDAY learnt reliably that the crisis started last Monday night when the two rival groups with members within the ages of 13,14, and 15 years engaged themselves in free for all which led to the killing and burning of house in Kabawa, a native area in Lokoja. The incessant crisis had made the
the area to a well secure places to avoid been engulfed in the crisis. Inside sources hinted that the crisis is as a result of reprisal by another group following the killing of one of their members. The sources added that the cultists, who were armed with guns and other dangerous weapons, invaded some houses, attack people and burned houses they believe belonged to rival group. However, when the police stormed the area yesterday to calm the situation, some of the cultists engaged the security agents in a gun
battle which lasted for several hours before they were over powered. It was gathered that some member of the cult groups jumped into river Niger to avoid been arrested by the police and crossed to the other side of the river bank. The Kogi State Police Command Public Relations Officers (PPRO), SP William Aya, who confirmed the incident, said 15 suspects have been arrested by the command. Aya explained that the command can only confirmed that one person was killed and that they are still investigating what led to the incident.
Global Citizen Launches Campaign to End Extreme Poverty Ugo Aliogo Global Citizen has launched a new campaign aimed at addressing the issue of poverty now.A statement by the organisation said the year-long campaign, known as ‘End Extreme Poverty NOW – Our Future Can’t Wait,’ would focus on three critical issues: empowering adolescent girls across the world, breaking systemic barriers that keep people trapped in poverty, and taking climate action now. The statement said the initiative is supported by the Deputy SecretaryGeneral of the United Nations, Amina Mohammed; President, South Africa, Cyril Ramaphosa; President of Ghana,
Nana Akufo-Addo; President of Zambia, Hakainde Hichilema; Foreign Minister of Nigeria Geoffrey Onyeama; Minister of Environment of Rwanda Dr. Jeanne d’Arc Mujawamariya; Former Executive Director of UN Women Dr. Phumzile Mlambo-Ngcuka; and Presidents of nations around the world. The campaign would feature a calendar of major global events which would include the presentation of the Global Citizen Prize, the Global Citizen NOW Leadership Summit; the 10th Anniversary Global Citizen Concert in both New York and Africa, and the Global Citizen G20 Summit, which would be held in Bali, Indonesia.
In announcing his support for the campaign, President Ramaphosa said: “We join Global Citizen in continuing our stewardship to ensure a better world and future for all. The past two years have highlighted the devastating impact on humanity when we choose individual goals over the global good. Together, we have to take concrete actions that will create a better future for our planet and its people, now.” The statement noted that Founder of Lebashe Investment Group, South Africa, Tshepo Mahloele would serve as the patron of the campaign in Africa alongside Indonesia’s Minister of Tourism and Creative Economy, Sandiaga Uno.
Oando Gives New Dates to Announce Financial Statements
Oando Plc yesterday said that it would not be able to file its audited financial statements (AFS) for the year ended December 31, 2019 before the end of first quarter (Q1) of 2022 as earlier announced. According to company, the audit is taking longer than expected due to the mandatory audit of post balance sheet events that have occurred
subsequent to the 2019 reporting period. “We hereby confirm that the 2019 audit is in the finalisation stage. We envisage that the board of directors will be able to approve the 2019 AFS on or before April 30, 2022. Following the approval, management and the auditors will approach the Financial Reporting Council for final approval and release of
the financial statements. Tentative dates for the release of other outstanding accounts such as 2020 AFS and the unaudited financial accounts for Q1-Q4 2021 are as follows: 2020 unaudited financial statements(May 3, 2022); 2020 AFS(July 31, 2022), 2021 unaudited financial statements (August 5, 2022) and 2021 AFS(October 31, 2022).
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WEDNESDAY, ͻ˜ ͺͺͺ ˾ T H I S D AY
WEDNESDAYSPORTS
Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com
0811 181 3083 SMS ONLY
Ghana’s Partey Derails Eagles’ Party to Qatar 2022 World Cup Angry fans vandalise Abuja stadium as Ghana qualify on away goal
Duro Ikhazuagbe Super Eagles dream of a seventh appearance at the FIFA World Cup to be hosted by Qatar has been halted by Ghana’s Black Stars. It is the first time since 2006 that Nigeria will be missing from the Mundial. After the first leg of the final playoff ended goalless in Kumasi last Friday, Black Stars played 1-1 with host Nigeria at the 60,000 capacity Moshood Abiola Stadium in Abuja last night and went through on the away goal rule. Arsenal player, Thomas Partey fired Ghana into the lead barely 10 minutes into the game before William Troost-Ekong converted a penalty kick to level up. Partey’s low low shot went through the grips of Francis Uzoho in a most bizarre manner. It was reminiscent of the same goal Tunisia scored Super Eagles at the AFCON 2021 in Cameroon to similarly end Nigeria’s campaign in the
continental showpiece. The away goal rule also ensured that the Ghanaians who missed the 2018 edition in Russia will be returning to global limelight like they did in 2006, 2010 and 2014. For Eagles Interim Coach, Augustine Eguavoen, the defeat means another dent for the indigenous coaches who have been calling for an end to foreign managers for the senior Nigerian team. Although he brought five changes to the starting lineup for an improvement over the squad that played the first leg in Kumasi, it was obvious Nigeria lost the ticket to Qatar from that initial goalless encounter. Starting with the likes of Calvin Bassey, Ademola Lookman and Frank Onyeka as replacements for Innocent Bonke, Samuel Chukwueze and Moses Simon did little to change the fortunes of the team. After Partey’s goal, Eagles drew
level in the 22nd minute, when VAR ruled that Lookman was upended inside the box by Denis Odoi and skipper Troost-Ekong put away the penalty. VAR again came to play in the 34th minute, when Victor Osimhen’s effort was chalked off for a clear offside. TV replay showed the Napoli striker was clearly ahead of the last Ghanaian defender Alexander Djiku. In the 59th minute, Osimhen’s improvised overhead kick from inside the box missed the Ghana goal not by much. Coach Eguavoen made attacking changes by bringing on Odion Ighalo and Ahmed Musa as Nigeria went for broke late in this encounter but the Black Stars were resolute in their defending of the away advantage. Not even the coming of Shehu Abdullahi for injured Frank Onyeka made any difference. Osimhen tried a spectacular kick in the 83rd minute as chances were few and far between for both teams in the dying minutes but it appears too little to cause any collateral damage for the Black Stars. Angry Nigerian fans vent their annoyance destroying anything on sight shortly after Tunisian referee Selmi Sadok called off the game. NIGERIA’S STARTING LINEUP: Francis Uzoho – Calvin Bassey (Sadiq Umar 88), Ola Aina, Leon Balogun, William Ekong (Capt) – Frank Onyeka (Shehu Abdullahi 46), Oghenekaro Etebo (Ahmed Musa 78), Joe Aribo – Ademola Lookman (Moses Simon 61), Emmanuel Dennis (Odion Ighalo 78) – Victor Osimhen
Sadio Mane...hero of the Teranga Lions
Sadio Mane Denies Egypt Again, Fires Senegal to Qatar 2022 Sadio Mane scored the winning penalty in a shootout to send Senegal to the 2022 World Cup after Liverpool team-mate Mohamed Salah missed his spot-kick for Egypt. In a repeat of February's Africa Cup of Nations final, Senegal were left jubilant at the final whistle after winning on penalties, with Egypt's players disconsolate and Salah - one of the world's best players - left contemplating
RESULTS *Nigeria 1-1 Ghana (1-1 agg.) (Ghana through on away goal) *Senegal 1-1 Egypt (3-1 penalties) *Morocco 4-1 DR Congo (5-2 agg.) *Tunisia
0-0 Mali ( 1-0 agg.)
*Algeria 1-2 Cameroon (2-2 agg.) (Cameroon through on away goal)
QUALIFIED 1. Ghana 2. Senegal 3. Morocco 4. Tunisia 5. Cameroon
his absence from November's tournament in Qatar. The second leg of the play-off tie in Senegal's new 50,000-seater stadium finished 1-0 to the hosts and 1-1 on aggregate after extra time, sending the game to a tense and dramatic shootout. Mane had netted the penalty which won the Nations Cup and the Reds forward notched the decisive spot-kick once again after keeper Edouard Mendy had given Senegal an advantage by saving from Mostafa Mohamed at 2-1. Egypt captain Salah was one of four players to miss the first four penalties of a shootout marked by a vast number of green laser pointers directed at the visiting players and goalkeeper. Senegal's Boulaye Dia was the scorer of the only goal in normal time - notching after just four minutes with a shot that hit the body of Pharaohs defender Hamdi Fathi. Elsewhere on the night, Morocco defeated DR Congo 5-2 aggregate to also book their ticket to Qatar. The Atlas Lions won 4-1 yesterday to consolidate on the 1-1 from the first leg. Tunisia also drew goalless with Mali last night but secured their place with the 1-0 from the first leg.
Thomas Partey scored in Abuja as Ghana secured an away goal to qualify for the 2022 World PHOTO: Reuters Cup in Qatar...last night.
FirstBank Scores Another First with Nigeria Derby Horse Racing Sponsorship FirstBank of Nigeria Limited scored another first at the weekend in Kaduna as the it sponsored the Nigerian Derby, an International horse racing competition which climaxed at the Murtala Mohammed Square on Sunday. Jockeys from Niger Republic won most of the trophies staked at the competition. Riding a local breed horse, Chinada Mamman, the star of the competition won the first prize in the Governor’s Cup, after outgunning other competitors from Nigeria, Cameroon, Burkina Faso and Chad Republic for the event’s top prize of the N1million, leaving Buhu Mamane and Hadju Husseini in the second and third positions respectively. It was the Nigerien Chinada again in the special Upper Class Division A, raced over 12-Furlongs where he outclassed his fellow competitors. However, the high flying Chinada lost out in the Coronation Cup, Taloun A, Upper Class Division to Muka Boyi who won in the category, while Kamilu Joke came second, Chinada ducked in the third position while Kanta Mataye also from Niger Republic completed the top 4 winners in the category.
Kanta Umar won the Presidents Cup in the Thoroughbred breed B-Open Division and its attached cash prize of N1m. Satisfied with the outcome of the event, Chairman, Kaduna Turf Club, Mohammed Lawal Ibrahim, commended FirstBank for throwing its weight behind
the championship, saying the financial institution’s support contributed immensely to the success of the championship. While urging FirstBank of Nigeria Limited to continue to play its leading role in sports sponsorship, Ibrahim said their effort has greatly helped in
building peace, development and growing tourism in the country. The Sixth Nigerian Derby International Horse Racing Championship held as part of the programmes put together to celebrate the coronation and first year anniversary of the Emir of Zazzau, Amb. Nuhu Bamali.
L-R: Jockey Chinada Mamman (blue colour, left), Buhu Mamane (red colour, left) and Hadju Husseini racing towards the finishing line at the just concluded Nigeria Derby International Horse Racing Championship in Kaduna
Wednesday, March 30, 2022
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MISSILE Abaribe to Proponents of Zoning in Abia “My issue is not about zoning. I am against people saying there should be no contest.If you are saying there should be no contest, you are simply supporting mediocrity.…” ---Senator Enyinaya Abaribe, Senate Minority Leader, questioning the logic of making zoning the only criterion for nominating candidates for governorship elections in Abia state.
KAYODEKOMOLAFE The Unsafe Abuja-Kaduna Journey I THE HORIZON
t was most appropriate that Asiwaju Bola Tinubu cancelled the colloquium organised yesterday to mark his 70th birthday anniversary in honour of the memories of those killed in the terrorist attack on an Abuja-Kaduna passenger train. A number of the passengers were kidnapped while some others sustained injuries. The National Leader of the All Progressives Congress (APC) aptly described the bloodletting as a “national tragedy” while calling for a “sober reflection” on the state of insecurity in the country. It would be insensitive to be celebrating just hours after such a disaster. In a related act of responsiveness, Vice President Yemi Osinbajo, who was to be part of the Lagos colloquium made a detour to Kaduna to be in solidarity with the injured victims in the hospital. Osinbajo had been one of the organisers of the earlier 12 editions of the yearly Bola Tinubu Colloquium. The gravity of what happened on Monday evening was further demonstrated by the visit of the Chief of Army Staff Lieutenant General Faruk Yahaya to the scene of the attack, a few kilometres to Kaduna. The army chief, of course, ordered troops to intensify the operations for the rescue of those kidnapped while going after the terrorists. In the face of the climate of insecurity enveloping the nation, the significance of the appropriate response goes beyond the optics. The government and the people must continue to demonstrate in words and action that our collective humanity is assaulted and diminished by the killings. Every attack should be treated as abnormal. Even symbolic gestures would, at least, serve the purpose of keeping the plight of the victims alive in the public consciousness. The point at issue is that it is important to deliberately humanise the responses to the unfolding tragedy at the official and unofficial levels. With the daily horrific reports of killings and destruction, it would be a sad commentary for the society itself to appear unshockable. Indeed, shocking things happen. But it is sometimes as if the torrents of the tragic news of killing and kidnappings have become a routine. For instance, today is the 270th day that some students of the Bethel Baptist High School at Kujama in Chikun Local Government Area of Kaduna State have been in captivity. They were kidnapped in their school. The agony of the parents still awaiting their children who left home to be in school 270 days ago could only be imagined. On April 14, it would be eight years that scores of the kidnapped Chibok girls have been in the den of terrorists. In the north-eastern states of Borno, Yobe and Adamawa about 26% of schools has been targeted by suicide bombers in the last 10 years and the basic education of 1.9 million children is in jeopardy, according to UNICEF. But who is talking about these poor children in the public sphere anymore? The attack on the train two days ago has proved again that travelling between Abuja and Kaduna is one of the most dangerous things to do at the moment. Some passengers avoided the Abuja-Kaduna Highway because of the activities of terrorists and other criminals on the road. The rail option became more attractive for travellers largely because of security reasons. With the Monday attack, however, not a few travellers would henceforth consider boarding a train from Abuja to Kaduna or vice versa a grave risk. In a way, the terrorists are actually restricting the freedom of movement of the people by targeting all modes of transportation. The attack on the train was particularly gruesome in the way it happened. Among the eight persons who have died from the attack was the young Dr. Chinelo Megafu. She was said to be billed to leave Nigeria on Friday to pursue her career. Another victim was Comrade Musa Lawal Ozigi , the general secretary of the Trade Union Congress (TUC). His wife was also shot in the attack and she is receiving treatment in the hospital. The stories are deeply sad. The fate of some of those kidnapped is yet unknown as the details of the tragedy are still emerging. With the road and rail becoming increasingly unsafe, the Kaduna airport was reportedly attacked by terrorists last week. One person was killed during
kayode.komolafe@thisdaylive.com
Dr. Chinelo Megafu the attack and an aircraft was said to be prevented from flying. The military authorities have, however, denied the story of the attacks. Garrison Commander 1st Division Nigerian Army, Brigadier-General Uriah Opuene, and the Airforce Base Commander in Kaduna, Air Commodore Ademuyiwa Adedoyin, assured the public that the airport was “protected.” The assurance
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itself raises some worrisome questions. For the Garrison Commander put the matter this way: “As you can see, this place is about six kilometres away from the airport terminal. The bandits were only passing behind the airport perimeter fence when they saw the security man engaged by NAMA (Nigerian Airspace management Agency) and fired at him. They just took advantage of that to pass a message that they have attacked the airport.’ According to the army officer, with air strikes 12 of the terrorists were killed. One of the troubling questions is this: how much confidence should a passenger have in the system given the fact that the terrorists could pass “behind the perimeter fence” of the airport? Beyond the extremely unsafe journey between Abuja, the nation’s capital, and Kaduna, the political capital of the north, is the fact that parts of Kaduna state are being attacked virtually on a daily basis. This is despite a host of defence and security formations located in the state and the efforts of the government of Governor Nasir el-Rufai. In fact, a federal legislator said yesterday on the floor of the Senate that security and defence authorities should do more to tackle insecurity in the state. In the last few days, scores of persons have been reportedly killed in the rural areas of the Giwa Local Government Area of the state. All told, the challenge still remains that of the Nigerian state to fulfil its constitutional responsibility of putting an end to the activities of the mass murderers. There may
be a need for a rethink of strategy and the mobilisation of all stakeholders for security purposes. President Muhammadu Buhari expectedly had a meeting with the security chiefs yesterday afternoon. Among other things, he told them: “My earlier directive that the military should deal ruthlessly with terrorists stands. Anyone found unlawfully wielding AK47 should not be spared. No one should be allowed to hold this country to ransom.” The situation doubtless demands talking tough. More important, however, is getting the job done as the President has directed. There was a popular clamour for a change of service chiefs. The incumbent service chiefs should justify the confidence reposed in them by the President and the public. To be fair to them, they have made some initial good impressions. But the service chiefs should be wary of the cynical psychology being peddled by some security experts that terrorism is a thing that has come to stay with the modern state. No, Nigeria must never surrender to terror. A visionary state armed with competent apparatuses and humane social policies can defeat terrorism. The nation is definitely not helpless in the task of ensuring security. With sincerity of purpose on the part of the security and defence authorities, it is possible to reverse the trend of worsening insecurity in the remaining 14 months of the Buhari administration. And that is far from being unduly optimistic.
Leadership Recruitment By Attahiru Jega The issue of leadership recruitment at all levels of governance in our country, is central to our current national predicament; and getting it right is key to the resolution of our poor governance and development processes. We evidently have been recruiting and appointing or electing inappropriate leaders, quite often, round pegs in square holes, and undermining, rather than, strengthening our governance, democratic and development processes. It can be said that, in general, every citizen needs to be concerned about the development of his/her country. Whether their country develops or not, whether they leave in peace or in pieces, and whether their needs and aspirations are satisfied or not, may to a large extent depend on the type of leaders they have; in other words, it depends on how the leaders unite or divide citizens, how they inspire or demoralize and demobilize citizens; and how they harness and utilize national assets and resources to develop the country or how they destroy the country’s potential by reckless pursuit of self-serving objectives. If leaders lacks vision, are narrow minded and short- sighted, or are quarrelsome and self-serving, they would only constrain the country’s development; they won’t be able to unite and inspire citizens; they would rather divide citizens on ethno-religious or other primordial identities; they would wreck, vandalize, privatize or steal national assets and resources; and they would certainly be unable to address the fundamental needs and aspirations of citizens, with regards to human security, peace and contentment. Nigerian citizens belong to the category of unfortunate citizens of the world in whose country leadership, though in the context of a civil democratic dispensation, leaves much to be desired, in terms of a sustainable vision for our country’s development, selflessness in elective public leadership positions, competence and capacity to lead a country in the 21st century, and in terms of having an enlightened self-interest to galvanize and forge elite consensus on how to reposition, stabilize and develop the country on a sustainable basis. There is an African saying that: “a wise cat that cares about tomorrow does not eat a pregnant mouse”! In Nigeria, our already very fat cats strive to eat all the mice without discrimination or regard for tomorrow! This is a very senseless act that cares neither for the human dignity of the citizens nor for the survival and sustainability of the country!!
What all these suggest, is that Nigeria has had a profound crisis of leadership, which is crying for urgent resolution. And key to addressing this crisis, is improving upon the leadership recruitment processes and getting leadership selection / election right. And this needs to be done, at the latest, by the 2023 general elections. While the eminent speakers are the ones expected to lead the discussion, I crave your indulgence to say a few things in these opening remarks, hopefully to set the tone of the discussion to follow. First, it seems to me that the opportunity that representative democracy provides through the electoral processes, for the careful selection / election by citizens of those who would truly represent and take care of their collective interests and aspirations, is either not properly understood by our so-called politicians and citizens as voters, or are wilfully ignored, or worse, deliberately undermined. With the terrible result that the electoral processes spew up and recycle most people in elected public offices who either bought, or fraudulently and often violently stole, the votes which put them into ‘elected’ public leadership positions. They invariably achieve this, because the special purpose vehicle for getting into elections, namely the political parties, are captured by so-called ‘money bags’, ‘godfathers’ and powerful patrons, and they operate undemocratically to install clients and otherwise very unprepared and untrustworthy people into elective positions, which require thorough preparation, competence and trustworthiness. Second, in view of this, we need to enlighten, awaken and mobilize our citizens as voters, to understand the value of using the electoral process for the protection, defence and advancement of their human dignity, and then put it to good use, to elect into public governance and leadership positions tested and trusted people, known good people, who have requisite honesty, integrity, competence and selflessness and vision for actualization of collective aspirations for progress and development. In this regard, we need to mobilize all citizens who are qualified, to register to vote, to know how to vote, without wasting their ballot, to vote wisely for people of good character who would represent / lead them well through good, democratic governance processes. Third, every citizen has a role to play to bring about responsible and responsive leadership and good democratic governance, through an electoral process that has integrity. We must all endeavour to take this responsibility with the seriousness that it deserves, and contribute to the integrity of our country’s elections. There should be no “Siddon- look” while bad people
are having a field day in politics and messing it up, and messing us all up! Politics is not inherently bad; it is only as bad as we all allow it to be! When we allow bad people to populate politics, it become bad, very bad!! Therefore, religious leaders, community leaders, civil society organizations and community-based associations, all enlightened, patriotic and well-meaning Nigerians, need to engage positively with the current political and electoral processes, contribute to improving the leadership recruitment process and help nurture a better future for our country in terms of democratic governance and socio-economic development. Finally, no doubt, one can say that good leadership recruitment has been the missing anchor in our national development; we must look for it and find it, as soon as possible, before 2023 elections, before it is too late, before the reckless disposition of the band of bad people who dominate and control our political and governance processes runs the country totally aground, beyond redemption or salvation. It is not too late now to do so; we must pick up the gauntlet, as we are truly running out of time. We must contribute to the development of a criteria to be used to mobilize citizens for good leadership recruitment for the 2023 general elections and beyond. This is a task that must be done. I fully agree with Jibrin Ibrahim, that: We must develop an overwhelming consensus that political leadership cannot remain the only job for which no qualification appears necessary except to have a lot of money, usually, stolen money. It is clear that for as long as the current pattern of leadership recruitment continues, our troubles will continue. It is for this reason that we must find a way to bring relevant criteria to bear on the selection of leadership. We have got to find a way of making character, competence and capacity to determine who leads To my mind, this should be made the main item on the agenda of all patriotic citizens ad organized civil society and community - based groups for active participation in the political and electoral processes of our country leading to the 2023 general elections. If, or when, we have good people in leadership positions, in governance, the resolution of many of our national challenges would become much easier, from restructuring, to reposition the economy and addressing the needs and aspirations of Nigerian citizens. Professor Jega, OFR, of the Department of political Science, Bayero University, Kano , made this statemen recently at the University of Lagos Muslim Alumni Association (UMA) Annual Pre-Ramadan Lecture.
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