TUESDAY 30TH APRIL 2024

NUPRC Begins Fresh Oilfields Bid Round, Offers 17 Blocks for Sale

Begins due diligence on renaissance group’s bid to acquire SPDC’s $2.4bn oil assets Picks S&P Global, Boston Consulting Group as consultants Komolafe says N4.3tn remitted to FG in 2023

speculators Worsen Petrol scarcity Nationwide, Amid Fears of Price Adjustment... Page 27

Ribadu: Social Media is a Local, Global Threat, Now National Security Priority

Hints 2019 security strategy under review Declares public engagement must change Terrorist negotiator seeks transfer to Kuje prison Kingsley Nwezeh and Alex Enumah in Abuja The National Security Adviser (NSA), Nuhu Ribadu, yesterday, said negative use of the social media

Continued on page 9

Ganduje: No Vacancy in Aso Rock in 2027

Discloses Tinubu battling with previous governments’ policy summersaults Aiyedatiwa receives certificate of return Kano court fixes May 16 to decide on charge service

National Chairman of All Progressives Congress (APC), Dr. Abdullahi Ganduje, yesterday, told the opposition parties that there was no vacancy in Aso Rock in 2027, when another general election will be due. Ganduje said the administration of President Bola Tinubu had been contending with accumulation of many years of neglect, policy summersaults and other disjointed decisions by previous administrations. The APC national chairman made the assertions while addressing supporters and some support groups at the national secretariat of the party in Abuja, In another development, the Ondo State governor, Lucky Aiyedatiwa,

Continued on page 9

graft case

Alake: Nigeria's Mineral Reserves Valued at $750bn... Page 6

Adedayo Akinwale in Abuja and Ahmad sorondinki in Kano

Ribadu spoke in Abuja at a

SHETTIMA AT IDA MEETING IN NAIROBI...

Tinubu: Our Youths Will Transform Nigeria into Digital Economy Powerhouse

African nations commit to greater financing, digital access

at IDA21 Summit

Resolve to mobilise domestic resources for continent's economic progression

Deji Elumoye in Abuja

President Bola Tinubu yesterday, declared that Nigeria was set to harness the potential of its youthful population to transform into a global digital economy powerhouse.

He also hinted of the country's plan to become a global hub for outsourcing talent within the digital and creative economy.

The President who was represented by Vice President Kashim Shettima, made the submission at the meeting of African Heads of State and Government on the 21st Replenishment of the International Development Association (IDA21) in Nairobi, Kenya.

This was just as African Heads of State and Government committed countries on the continent to strengthen implementation capacities, mobilising domestic resources, and partnering effectively with IDA to accelerate the continent's economic transformation.

Tinubu, also reiterated Nigeria's plan to build a vast digital market capable of absorbing cutting-edge innovations and technologies, positioning the country as a hub for outsourcing talent in the digital and creative economy spheres.

The President in a speech titled:

"The Path to Recovery: Nigeria's Journey Beyond Sabotage", which was delivered at the Summit by Shettima stated: "Being a young country with a median age of about 18, our interventions in the digital economy have been so extensive that we are no longer boasting of having the most unicorns, but preparing to serve as a global hub for outsourcing talents."

Tinubu, informed other African leaders of the sweeping reforms implemented by his administration to curb illicit activities and currency manipulation that had long hindered the nation's progress.

"Since assuming office, President Tinubu has remained steadfast in fulfilling his promise to end the reign of economic saboteurs who have long exploited and hindered the progress of our nation. I am pleased to report that our economy has escaped the phase of sabotage," Shettima noted.

Alongside the digital transformation agenda, President Tinubu said Nigeria is committed to prioritizing climate resilience and becoming an attractive destination for carbon market investments.

"The tensions resulting from climate-induced disruptions serve as a pressing call to action. The profound impact of climate change on our continent's security underscores

our dedication to transforming innovative concepts from conference discussions into tangible actions. We aim to become an investment-friendly destination for carbon market investments," the organ was informed.

He expressed Nigeria's belief that the summit's communiqué would reflect the collective needs of African and IDA countries, capturing their "nuances, consensus, dreams, and projections."

Tinubu listed key priorities for Nigeria's economic recovery in his administration's Renewed Hope Agenda, anchored on poverty alleviation, to include economic expansion, job creation, enhanced access to capital, food security, and inclusivity.

He also stressed the importance of regional economic integration through instruments like the African Continental Free Trade Area (AfCFTA) Agreement to dismantle investment barriers and facilitate access to international markets.

"Our path to the future depends on nurturing strategic partnerships with other nations and development organizations. Therefore, we will utilise our absolute and comparative advantages to establish partnerships across borders," the President said.

Earlier in his opening remarks,

NECA: Tinubu’s Economic Reforms Not Responsible for Closures of Industries

Says Tinubu will not announce new national minimum wage on May 1

Dike Onwuamaeze

The Director General of Nigerian Employers’ Consultative Association (NECA), Mr. Adewale-Smatt Ayorinde, has stated that President Bola Ahmed Tinubu’s reform of the economy should not blamed for the number of manufacturing businesses that have been shutting down their operations in Nigeria and leaving the country since the second half of 2023.

Ayorinde made this claim yesterday when he spoke to journalists in Lagos, adding that it is absolutely impossible for President Tinubu to announce a new minimum wage

on May 1. He said: “It takes more than a year for a business to close shop. Before then, there will be series of events that will constrain the business owners to say that it is time to go. So, it is not a one month or a one year decision.

“Absolutely, their closures cannot be blamed on the reforms of President Tinubu’s administration. Industries like GSK announced their exit last year. You cannot truly ascribe their departures to issues that happened in the past eight months.

“Without speaking for the government, we also know that we were in a deep hole before

Tinubu’s administration came in.

And if you find yourself in a hole, the first thing that wisdom dictates is to stop digging.

“But that you stopped digging does not mean that you are out of the hole. It also does not mean that your liability is not increasing; it does not mean that the loans you have collected will stop accruing interest.

“If you are unfortunate that the dynamics in global business turns against you and you do not have the backbone and reserves to absorb those shocks they will delay your ability to get out of the hole.

President William Ruto of Kenya, said the summit was urgent because it was "convened at a critical juncture facing a convergence of global crises which include escalating geopolitical tensions that challenge international unity, a deepening development and debt crisis that threatens our economic stability, and an urgent climate emergency that demands immediate and collective action for our planet's survival."

He gave instances of the devastating impact of severe flooding in the

East African region which, according to him, has displaced thousands in Nairobi alone, and the vulnerability of the continent to extreme weather patterns, which points to the critical role of the IDA in financing Africa's development and stability.

“This new normal demands our immediate and united action to safeguard our collective future. This underscores the critical role of IDA for Africa Summit as a cornerstone for financing for Africa. IDA has directed 75 per cent of its total commitment

which is nearly $26 billion to Africa in the last fiscal year with African countries comprising eight of IDA's top 10 borrowers. This support is not just financial but it's a lifeline for development and stability,” President Ruto said.

Also speaking, World Bank President, Ajay Banga, expressed optimism about Africa's potential, saying "it's very easy to feel hopeful when we're together anywhere in Africa," adding that "you feel the infectious energy of young people."

Nigeria Appeals to US for Repatriation of More Stolen Wealth

Michael Olugbode in Abuja

The federal government yesterday, appealed to the government of United States (US) to repatriate more illicit funds transferred from Nigeria through its banking system.

The Minister of Foreign Affairs, Yusuf Tuggar, made the appealed in his remarks at the 6th Session of the Nigeria-US Bi-National Commission in Abuja.

Tuggar, who was represented at the event by the Permanent Secretary, Ministry of Foreign Affairs, Adamu Lamuwa, said there was the need for increased support from the United States, noting that $308 million repatriated in the past was a fraction of Nigeria’s money illegally transferred over time.

He reiterated the Nigerian government's commitment to utilising the funds for the collective benefit of its citizens, in line with agreements with development partners.

He specifically mentioned that the funds would be allocated to infrastructure development, focusing on projects such as roads, schools, education, and other vital sectors requiring substantial investment.

He also said: “I would like to appreciate the fallout of the Democratic National Convention held in February 2020 in Washington, DC. The governments of Nigeria, the United States, and Jersey signed a tripartite agreement to return to

Nigeria the sum of over $308 million of funds stolen from the country.

"I would also urge the U.S. to do more because $308 million is a meagre amount when you look at the resources that Nigeria has lost over the years due to illegal transfers of funds from the country.

"The Nigerian government has committed to using these funds for the benefit of all Nigerians, as agreed with development partners.

“These funds are aimed at developing infrastructure, particularly projects in roads, schools, education, and other sectors of the economy that require this substantial return."

While noting that the theme for this year’s session was: “Partnership for Mutual Benefit and Development," has particular relevance and timeliness given the pressing need for such collaboration.

He added that as two major democracies, bolstering ties between these nations holds promise for an even more robust partnership, fostering peace, prosperity, and advancement not only in Africa but globally.

During her remarks, the Assistant Secretary for African Affairs, Molly Phee, highlighted the pivotal role of security cooperation in the NigeriaU.S. partnership.

Phee, who represented the U.S. Deputy Secretary of State, Kurt Campbell, stressed that without security, achieving prosperity becomes

challenging and human rights are endangered, while underscoring the joint efforts aimed at tackling Nigeria's multifaceted security challenges, including terrorism, banditry, and piracy, which pose significant threats to its population.

She said, “Security cooperation is another crucial aspect of our relationship. Without security, prosperity will be elusive and human rights threatened. Together, we are working to address the broad security challenges facing Nigeria, terrorism; banditry and piracy threaten its people.

“The U.S. is committed to helping Nigeria build more capable, professional and accountable security forces while ensuring respect for human rights, and fundamental freedoms, including for religious minorities.”

Meanwhile, the U.S Deputy Secretary of State, Kurt Campbell is visiting Abuja; London, United Kingdom; and Paris, France between April 29th and May 3rd.

In London, the Deputy Secretary would participate in bilateral meetings on the Indo-Pacific and the AUKUS trilateral security partnership.

In Paris, the Deputy Secretary would attend the OECD Ministerial Council Meeting (MCM), chaired by Japan, under the theme of “Cocreating the Flow of Change: Leading Global Discussions with Objective and Reliable Approaches Toward Sustainable and Inclusive Growth.”

L-R: Vice-President Kashim Shettima; Technical Assistant on Agriculture to the Vice-President Dr Marion Atieno Moon; and Kenyan President William Ruto, at the International Development Association (IDA21) Africa Heads of State Summit which held at the Kenyatta International Convention Centre, Nairobi, Kenya... yesterday

NGX 63rd ANNuAl GeNerAl MeetiNG...

Alake: Nigeria's Mineral Reserves Valued at $750bn Announces plans to establish solid

The Minister of Solids Minerals Development, Dele Alake, has revealed that a preliminary report by a German firm, GeoScan, indicated that Nigeria sits on several minerals worth $750 billion.

Speaking during a Summit organised by the National Institute for Policy and Strategic Studies (NIPSS) and Bruit Costaud yesterday, in Nigeria, Alake said the mining sector has the potential to contribute a large part of the nation’s goal to achieve a trillion-dollar economy as pushed by President Bola Ahmed Tinubu.

Alake, while stating that the president was pushing several reforms to rejuvenate the sector,

said there was a need to avoid Nigeria being a mining pit for solid minerals while the processing and conversion to other products are done in other countries. He stated this was the reason he was pursuing local value addition in products mined in the country. He however, said the availability of data was important to attract investors that would establish plants in Nigeria to process the minerals and create a multiplier effect on job creation and growth in the economy.

“We are working with the World Bank, Excalibur and GeoScan, a German company, to get the necessary data on the sector. That is why the federal government signed a memorandum of understanding

minerals corporation

with Geoscan and they did a preliminary survey of our minerals on the output and potential. They gave us a figure of $750 billion worth of minerals embedded under the ground of Nigeria.

“That is a conservative estimate, by the time we conduct a serious, accurate data exploration, we will discover that we have trillions of solid minerals embedded under. So, the president’s projection of a one-dollar economy is not a fluke.

“By the time we are done with all of these efforts, input and policies we are putting in place, trillions of naira will be a child’s play and we will be nudging trillions of dollars,” he added.

The Minister added that part of its reform was the establishment

NCDMB Receives N450m Interim Dividend from Waltersmith Modular Refinery

The Nigerian Content Development and Monitoring Board (NCDMB) has announced that it had received an interim dividend payment of N450 million out of the N1.5 billion declared by the Waltersmith Refinery and Petrochemical Company Limited.

NCDMB disclosed this in a statement issued yesterday, saying the payment represented the board's 30 per cent share in the company for the year ended 2023.

The NCDMB had in July 2018 invested $10 million to acquire 30 per cent stake in the 5000 barrels per day (bpd) modular refinery project located at Ibigwe, Imo State, to support the federal government’s policy on modular refinery, stimulate investment and create employment opportunities.

Rising from a board meeting of Waltersmith Refinery and Petrochemical Company Limited, the Executive Secretary NCDMB, Felix Ogbe confirmed that a total dividend of N4.5 billion had been approved for the year 2023, pending final approval at the Annual General Meeting (AGM).

The company reported a total profit of N23.6 billion as profitafter-tax for the same year.

The Executive Secretary hinted that NCDMB expects to receive additional 30 per cent of the outstanding N3 billion dividend after the AGM is convened later this year.

He added that the receipt of this interim dividend payment was a testament to the strong performance and profitability of Waltersmith Refinery and Petrochemical Company Limited. “The NCDMB is proud to be a part of this success and looks forward to continued collaboration with the company in the future,” he stated.

Ogbe, affirmed that the company was upscaling the refinery capacity from 5000 bpd to 10,000bpd and the expansion project is 44 per cent completed and on time to be inaugurated by early 2025. NCDMB’s investment in the Waltersmith project was also geared to catalyse the industrialisation of the Nigerian oil and gas industry and its linkage sectors and deepen Nigerian Content in the oil and gas industry.

It was the first third-party investment embarked by the Board, and it provided proof of concept and paved the way for other successful investments by the Board.

Two weeks ago, NCDMB received a cheque of $1 million from Nedogas Development Company Limited (NDCL), being part of the return on investment (ROI) on one of the Board’s strategic investments.

The cheque was presented by the Chairman of the company, Emeka Ene, when he visited the Nigerian Content Tower in Yenagoa, Bayelsa State, where he was received by the Executive Secretary and other members of

the Board’s management. Nedogas Development Company Limited (NDCL) is a joint venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company and it culminated in the construction and commissioning of a 300 million standard cubic feet per day (mmscfd) apacity Kwale Gas Gathering (KGG) and injection facility located in the Umusam Community, near Kwale in Delta State, Niger Delta, Nigeria.

“When I first read this, a lot of people were taken aback and skeptic because what rang in their mind was NNPC, that is we are going to establish something similar like NNPC, which is a quasi- government venture.

“But no, the proposed corporation is vastly different in nomenclature,

structure and operation,” he added, saying the establishment of the corporation was presently before the National Assembly.

“We are proposing 50 per cent of the equity entirely to the private sector, 25 per cent to Nigerians at large and 25 per cent to the government,” he said.

Funmi Ogundare

A total of 1,814,344 candidates from 22,229 schools will be sitting for the West African Senior Secondary School Certificate Examination (WASSCE), which is set to commence today, April 30, till June 24, 2024.

Firm declares N4.5bn dividend for 2023 of the Nigerian Solid Minerals Corporation.

The President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, has stated that the Islamic Development Bank Group (IsDB) has partnered the bank and the International Fund for Agricultural Development (IFAD) to launch a $538 million programme to develop special agro industrial processing zones in Nigeria.

Adesina remarked that in 2017, the AFDB set a goal financing target of $2 billion, adding that it has overachieved on that by reaching $2.4 billion which he noted would support 19 projects across 14 African countries.

The AfDB boss, who spoke during yesterday in Riyadh, Saudi Arabia,

The examination which will span almost eight weeks, will be conducted in four WAEC member countries, including Nigeria, Gambia, Sierra-Leone and Liberia.

Briefing journalists yesterday, in Lagos, on the conduct of the WASSCE for school candidates, the Head of Nigeria National Office ( HNO) of the council, Dr. Amos Dangut explained that out of the total of 1,814,344 candidates that registered, 902,328 are males, amounting to 49.73 per cent, while 912,016 are females, representing 50.27 per cent of the total candidature.

This statistics, he noted, showed a further increase in the number of females and males respectively,

He said lithium is the new gold and Nigeria has abundant of it, adding that the biggest lithium processing factory would soon be inaugurated.

The Director General of NIPSS, Ayo Omotaya, said the summit was organised to chart a way forward for the mining sector.

Speaking earlier, the Governor of Nasarawa State, Abullali Sule, said investment in solid minerals was the way to go.

WAEC: 1.8m Candidates Expected as WASSCE Commences Today

compared to 2023.

"On the whole, the candidature for this year increased by 192,948", he stated, adding that candidates would be examined in 76 subjects, made up of 197 papers.

"About 30,000 practicing senior secondary school teachers, nominated by various ministries of education, will supervise the examination," the HNO stated. He however expressed concern over the insecurity situation in the country, saying that this was affecting the conduct of its examinations and would require extra security arrangements . He added that this can be done by liaising with the Inspector General of Police and State governments to provide adequate security and ensure that the examination is conducted nationally in a safe and secure environment.

"Conducting examinations has been challenging. Instances of insecurity exist in many places across the country, and conducting

examinations in insecurity-prone areas would require extra security arrangements. We are likely to relocate the candidates from where the government considers as very high risk areas to relatively safer areas.

"The council appreciates the continued support received from the Nigeria Police as partners in actualising its goals during the conduct of its examinations," he added.

Fielding questions from newsmen, the HNO explained that the council has reached agreements with indebted states for the outstanding amounts being owed , saying that such funds are needed for the conduct of the examination

He called on parents and guardians to encourage their wards to study diligently and desist from engaging in any form of examination malpractice, saying that the council will deal decisively with candidates and examination functionaries who engage in such vices.

IsDB Partners AfDB, IFAD to Launch $538m Fund for Agro-industrial Processing Zones

during the IsDB Golden Jubilee celebration and gala dinner, hinted that the IsDB Group has committed $7 billion to efforts in support of Africa to feed itself.

“I was delighted when the Chairman IsDB Dr. Muhammad Al Jasser, announced this at the Feed Africa Summit held in Dakar, Senegal in 2023. You have joined forces with the African Development Bank and the International Fund for Agricultural Development as we jointly launched a $538 million programme to develop Special Agro Industrial Processing Zones in Nigeria.

“You also joined forces with us to create the Alliance for Special Agro Industrial Processing Zones to jointly mobilise $3 billion to develop these

zones across several countries.

“You are a strategic partner of choice for us. As you look into the future. We have shown our commitment to do more together,” he stated.

The Co-chair, Board Member, Bill and Melinda Gates Foundation, Bill Gates, disclosed that the organisation’s collaboration with the Muslim leaders, especially the Sultan of Sokoto, Saad Abubakar, helped drop the polio virus to zero in northern Nigeria in the year 2020.

He also noted that many thought the foundation would not succeed in its effort to eradicate the polio virus because the reputation of the virus in Nigeria was under huge challenge. However, he said they were able to get the word out, while adding

that the oral polio drops were a great thing and every child everywhere accepted it.

In his remarks, President of Afreximbank, Benedict Oramah, revealed that the scale of the transactions IsDB has done with Africa through International Islamic Trade Finance, which provides trade support to participating countries on behalf of the bank, has surpassed one $1 billion.

Oramah said: “Today, there can be no better place to invest than in Africa. That is the continent of the future. That is the youngest population. That is a continent that will in a very short time actually account for almost 40 per cent of global population.

L-R: Independent Non-Executive Director, Nigerian Exchange Group, Mrs. Fatima Wali-Abdurrahman; GMD/CEO, NGX Group, Mr. Temi Popoola; Group Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga; Ag. Company Secretary, NGX Group, Izuchukwu Akpa; Independent Non-Executive Director, NGX Group, Mrs. Ojinika Nkechinyelu Olaghere and Non-Executive Director, NGX Group, Mr. Nonso Okpala during NGX Group 63rd Annual General Meeting in Lagos ...yesterday

ugo Aliogo in Riyadh, Saudi Arabia

Peter uzoho

Folalumi Alaran in Abuja

10th ANNuAl GENErAl MEEtiNG of trANsCorp hotEls...

L-R:

NERC Deregulates Electricity Market for Meter Asset Providers

The Nigerian Electricity Regulatory Commission (NERC) yesterday officially deregulated the market for Meter Asset Providers (MAP), stressing that it will henceforth be subjected to competitive market forces.

In an instrument marked NERC/2024/O40 cited as the “Order on Deregulation of Meter Prices for Meters Deployed Under the Meter Asset Provider Scheme”, the regulatory agency stated that single phase had earlier been raised from N58,661 .69 to N81,975.16, while the three-phase devices were hiked from N109,684.36 to N143,836.10.

The Order was signed by the NERC Chairman, Sanusi Garba and the Commissioner in charge of Legal, Licensing and Compliance, Dafe Akpeneye.

NERC added that any Disco that intends to procure meters from sources other than the MAP and National Mass Metering Programme (NMMP) framework, the licensee shall obtain the commission's approval.

In addition , it stated that they shall ensure that the meter cost is within approved regulated pricing and guarantee that the procurement terms are not in conflict with terms of existing MAP and NMMP contracts.

It stressed that operators have now requested a further review of meter prices in consideration of significant changes in NGN/USD foreign exchange rate and inflation rate since the last price review in September 2023.

According to the power sector regulator, the significant changes in

the macroeconomic variables has constrained their ability to supply meters at the approved regulated price.

“The commission has noted the need for the efficient pricing of meters to respond more quickly to changes in macroeconomic parameters, particularly exchange rates.

“The commission has further taken cognisance of the constraints/ challenges faced by MAPs and LMMAs and therefore approved the deregulation of prices of meters deployed under the MAP scheme with effect from May 1, 2024.

“With effect from May 1, 2024, all prices of meters under the MAP scheme shall be determined through a competitive bidding process with customers provided with a choice of authorised vendors,” it added.

It noted that the cost of prices of meters deployed under the MAP scheme is hereby deregulated to enable end-use customers acquire meters from MAPs of their choice based on competitive open market prices determined from transparent bidding frameworks.

According to NERC, all Discos shall ensure the effective and seamless integration of smart meters deployed by MAPs with the Disco’s head-end systems and meter data management systems.

“All Discos shall provide a publicly accessible online portal on their website where prospective MAPs can view the Disco’s technical specifications and commercial terms for participation as a MAP within its network area,” it stressed.

While all Discos are required

to conduct a thorough test and confirmation of specifications for new meters proposed by a prospective MAP and concluded no later than 20 working days, NERC stated that where a meter fails the confirmation test, the Disco shall immediately notify the MAP stating the points of failure.

The pricing of meters under the MAP scheme, it said, is thence deregulated but subject to an open transparent competition amongst MAP permit holders.

The commission said all MAP permit holders wishing to participate in each competitive bidding cycle shall, no later than five days

prior to the commencement of the process, provide verifiable evidence confirming the availability of a minimum stock of 2,000 units of meters.

“This is a mandatory eligibility requirement for participation in the bidding process,” it explained.

All DisCos, it said, shall, at the

end of each month, file with the commission a return showing the meter supply and installation performance of each MAP for the month.

According to NERC, the Order is issued without prejudice to existing obligations and commitments of Discos to existing MAPs.

Traditional Functionaries Barred from Oba’s Palace Amid Contentious Visit to Ooni of Ife

Some traditional functionaries who went to pay homage to the Ooni of Ife have been barred from the Palace of the Oba of Benin.

The functionaries at the weekend, engaged in what the Benin customs custodians described as sacrilege, show of shame and falsehood, which earlier earned them suspension.

The persons involved included: Johnbull Igbinosun, Iduhonre (Ihogbe); S.E. Aigbiremwen, Efesoghoba (Ogbelaka); and two other Ogbelaka functionaries — Ogbeide Osagie and Osamudiame Ed.

The palace said they falsely claimed to be emissaries of the Omo N' Oba N' Edo Uku Akpolokpolo, His Royal Majesty, Ewuare Il, Oba of Benin in the presence of the Ooni of Ife His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi; (Ojaja II). It said they rendered inaccurate and disjointed account of the link between the Benin Royal Dynasty and the Ooni-ship of Ife at Ooni of

Ife's Palace in Osun State recently.

A statement signed by Chief Press Secretary to the Oba of Benin, Osaigbovo Iguobaro yesterday, said those involved admitted before the committee led by Chief Ekhoerovbiye Oviasogie, the Uwangue of Benin that they erred against Benin Customs.

Consequently, they were also stripped off Benin Royal beads, recognition as palace functionaries and their traditional titles, which were handed over to the ancestors.

The suspended palace func-

The Uwangue of Benin, who described their action as a deliberate attempt to rubbish Benin Kingdom, pronounced the suspension of palace functionaries.

tionaries were also barred from parading themselves as Benin Palace functionaries and stopped from participating in any traditional rites in Benin. They were thereafter escorted out of the Palace by Chiefs, including Ewaise (traditional seers) with occipital horns invoked ancestral spirits to bear witness.

NCAA DG Inaugurates Agency’s Project Monitoring, Evaluation Committee

The acting Director General of Civil Aviation Authority (NCAA), Capt. Chris Najomo has inaugurated the agency’s project monitoring and evaluation committee.

The inauguration ceremony for the newly reconstituted committee took place yesterday at NCAA corporate headquarters, Nnamdi Azikiwe

Ihedioha Moves to Join Labour Party, Holds Discussions with Abia Governor, Alex Otti

Another PDP BoT member resigns

However, Ihedioha’s visit was made known yesterday when Otti’s office released a photograph showing him with the Abia governor during the visit.

Less than a week after resigning his membership of the Peoples Democratic Party (PDP), a former governor of Imo State, Chief Emeka Ihedioha, appeared to have initiated moves to join the Labour Party (LP).

This suspicion, however, followed his meeting with the Governor of Abia State, Alex Otti, at his Nvosi country home, on Sunday, for what pundits have described asexploratory talks before pitching his tent with the LP.

This was as another chieftain of the PDP in Edo State, and member of the party’s Board of Trustees (BoT), Mr. Charles Idahosa, has resigned his membership of the party.

Otti is the only LP governor in Nigeria. A two paragraph release that accompanied the photograph did not reveal the purpose of Ihedioha's visit but only said the Abia governor received his visitor, "who was on a private visit.

"After the welcome reception, Governor Otti and his visitor retired into a closed-door meeting," the release said.

Ihedioha is believed to be shopping for a political platform after he resigned his membership of PDP on April 23, 2024, citing the way

the issue of the national secretary of the party was resolved in favour of Samuel Anyanwu.

By getting his job back as PDP National Secretary after losing the governorship poll, the structure of the party in Imo has firmly been thrust into Anyanwu's control thereby putting his rival, Ihedioha on a very weak footing in Imo PDP.

His resignation from the party, however, opened a floodgate of resignations by his loyalists, who were party office holders from local government to national level.

It is expected that these Imo PDP chieftains and their supporters would follow Ihedioha into LP when he eventually announces his new found party.

Meanwhile, Idahosa, too, an-

nounced his decision to quit the PDP in a letter addressed to the Chairman of Ehor Ward and I of the party in Uhunmwonde Local Government Area of Edo State and copied to the Chairman, BoT of the PDP, South South National Vice Chairman, the State Chairman and Uhunmwonde Local Government Chairman of the party.

"I trust this letter finds you well. I am reaching out to formally announce my decision to resign from both the Peoples Democratic Party (PDP) and my role as a member of the Board of Trustees (BOT).

“As a representative of the South South Nigerian region, this decision comes after considerable contemplation and reflection on my personal and political journey.

International Airport, Abuja.

In his address, Najomo stated that the reconstitution of the committee was expedient, especially after the creation of the Directorate of Special Duties and the establishment of a Project Monitoring and Contract Evaluation Unit within the Directorate. He noted that project monitoring does not only entail planning and execution but also diligent supervision and continuous monitoring and evaluation towards achieving specific goals.

According to him, the 10-man committee was first constituted in 2021, and its reconstitution demonstrates NCAA management’s collective dedication to transparency, accountability, and value for resources.

CBN Halts Four MFBs from Onboarding New Customers

Nume Ekeghe

In a move highlighting ongoing scrutiny of foreign exchange transactions, the Central Bank of Nigeria (CBN) has directed four major Microfinance Banks (MFBs) to halt onboarding new customers.

The affected MFBs are OPay, Palmpay, Moniepoint and Kuda Bank. The CBN action was based on allegations of accounts being used for illicit foreign exchange transactions.

Moniepoint confirmed a temporary pause on new sign-ups through a message on their platform. Hello! We’ve temporarily paused new sign-ups on our platform” Also in an attempt to sign up, the firm also stated: Thank you for downloading Moniepoint. Signup is currently unavailable. Please check back later.”

A similar message was posted on Palmpay’s app, it states: “Thank

you for downloading Palmpay. Signup is currently unavailable. Please check back later.

THISDAY checks verifies that the four mfbs have indeed suspended their new customers enrolment.

The duration of the freeze remains unclear, with the CBN yet to announce further details. It would be recalled that the Chairman of the EFCC, Ola Olukoyede last week revealed that over 300 bank accounts have been frozen to safeguard the naira against potential threats.

Olukoyede emphasised the need for robust measures to combat financial crimes, citing reports indicating significant losses to cybercrimes in the banking sector. He highlighted the importance of preventive measures to curb looting and stimulate economic growth, underscoring ongoing efforts to address forex manipulation activities and attacks on the national currency.

Emmanuel Addeh in Abuja

Chinedu Eze

Adibe Emenyonu in Benin City

Non-Executive Director, Peter Elumelu; Non-Executive Director, Dr Owen D. Omogiafo; Independent Non-Executive Director, Bolanle Onagoruwa; Chairman, Emmanuel Nnorom; Managing Director/ CEO, Dupe Olusola; Independent Non-Executive Director, Garba Abubakar; Non-Executive Director, Adesimbo Bello-Ukiri; and Dr Oluwatoyin Madein, Non-Executive Director, at the 10th Annual General Meeting of Transcorp Hotels Plc, held at Transcorp Hilton, Abuja ... yesterday

Adibe Emenyonu in Benin City and Emmanuel ugwu-Nwogo in Umuahia

Adelabu: FG Must Invest $10bn Annually to Guarantee Uninterrupted Power Supply

Says Nigeria needs N2.8trn to subsidise power in 2024

Sunday Aborisade in Abuja

The Minister of Power, Adebayo Adelabu, said yesterday in Abuja that Nigeria would need an annual $10 billion for the next 10 years to revive the country's ailing electricity generation, distribution and supply chain.

Adelabu said that the sum must be spread across the period to end the liquidity challenge in the sector.

The Minister’s disclosure was made at a one-day investigative hearing on halting the proposed increase in electricity tariff by 11 electricity distribution companies.

The session was organised by the Senate Committee on Power, amidst the biting economic situation in Nigeria.

The Minister also said the federal

government would need N2.8trn to subsidise electricity this year alone.

Adelabu said, "The government will need about N2.8 trillion to subsidise electricity this year, and we looked at the government budget itself, we looked at the provision for subsidy, we discovered and confirmed that the government could not afford to pay.

"This government budget is N28 trillion N2 trillion is a subsidy for power separately. It is over 10 per cent of the budget, which is not realistic for us to ask the government to pay, '' the Minister said. His position drew the anger of the lawmakers who in their various contributions bemoaned the country's power situation.

The Senators decried the experiences of Nigerians on electricity

supply over the years, despite the unbundling of the sector.

For instance, Senator Lola Ashiru said Nigerians were paying for inefficiency of power sector operators.

Ashiru, who is the Vice Chairman of the committee said there was a lot of inefficiency across the value chain of generation, transmission and distribution..

He said poor Nigerians must be protected, adding that there was a need to consider a reversal of the tariff increase .

Similarly, Senator Solomon Lalong said there was no consultation before the increase, adding that issues of palliative should have been discussed and provided before the tariff increase.

Senator Enyinnaya Abaribe, who is Chairman of the Committee

said what Nigerians wanted was a solution to the issues and ways to ensure liquidity in the sector.

He also decried the non appearance of a company "ZIGLAKS" over the failed agreement to provide prepaid meters for Nigerians.

He alleged that the company had received N32 billion in 20 years to meter Nigerian electricity consumers.

On his part, Senator Adamu Aliero said due consultation was not carried out before the tariff increase.

He said the public was not at peace with the increase, saying that the increase was over 200 per cent, hence the need for a reversal of the tariff increase.

Stakeholders that made presentations at the investigative hearing included the Nigerian Electricity Regulatory Commission (NERC),

N u PR c b e GINS F R e SH oI l FI el DS bID Rou ND , oFF e RS 17 b lock S F o R S A le

The Commission Chief Executive, Gbenga Komolafe, spoke at two separate events in Abuja, at the maiden NEITI House Dialogue in Abuja and at a workshop in Abuja organised to streamline the issues in the proposed divestment of the participating interests held by the SPDC.

Komolafe, who said the oil bids will be concluded by January next year, stated that the new green field oil blocks on offer include six acreages located on continental shelf, four deep offshore blocks and two onshore blocks in the Niger Delta.

Manufacturers Association of Nigeria (MAN), Association of Power Generation (Gencos), Electricity Distribution Companies (DisCos) among others.

Addressing the gathering, the Minister said, "For this sector to be revived, the government need to spend nothing less than $10 billion dollars annually in the next 10 years.

"This is because of the Infrastructure requirement for the stability of the sector, but the government cannot afford that.

"And so we must make this sector attractive to investors and to lenders.

"So for us to attract investors,and investment, we must make the sector attractive, and the only way it can be made attractive is that

Adelabu

there must be commercial pricing.

"If the value is still at N66 and the government is not paying subsidy ,the investors will not come.

“But now that we have increased tarrif for a Band, there are interests been shown by investors."

the associated risks.

The NUPRC boss stressed that the licencing round will be conducted in a fair, and competitive bidding process in a non-discriminating manner.

He noted that some of the criteria required for acquiring the blocks include technical competence, financial capacity and viability.

“The licensing round that we put in place is designed to enhance quality data sets and is going to

He explained that the commission had put in place regulations to create a conducive investment environment by ensuring regulatory certainty, vacating entry barriers and promoting global competitiveness.

be conducted in a fair, transparent, and competitive bidding process and in a non-discriminatory manner as stipulated in Sections 73 and 74 of the Petroleum Industry Act (PIA).

“It is gratifying that in the last three years, you will see the growth of revenue generation by the commission. The commission has successfully been meeting and surpassing the revenue targets set by it, and that equally speaks to the transparent approach in revenue reporting by the commission.

“Permit me to conclude by reassuring all our stakeholders, members of the civil society, of our commitment

to sustaining our ongoing efforts in ensuring optimal development of Nigeria's petroleum resources.

“This would be a good opportunity for us to, as we are planning to commence the 2024 licensing round, that it would be a good opportunity to launch this critical programme before these eminent stakeholders are seated here today.

“So, ladies and gentlemen, it is my pleasure and honour to announce to you that the 2024 licensing round as described in the Petroleum Industry Act will commence from the end of this month. The process has commenced and will set very clear criteria

R I b AD u: Soc IA l Me DIA IS A loc A l, Glob A l T HR e AT, Now N ATI o NA l Secu RITY

meeting with spokespersons of organisations under the umbrella of Strategic Communication Interagency Policy Committee.

He directed media managers in the defence, security and response agencies to change their approach in engaging with the public and countering disinformation from enemies of the country.

At the same time, the detained terrorist negotiator, Mohammed Tukur Mamu, begged a Federal High Court, Abuja, to order his release from the custody of the Department of the State Services (DSS) to the Correctional Centre in Kuje, in the Federal Capital Territory (FCT).

The NSS document is reviewed every five years in view of the changing dynamics of security threats in the country.

Ribadu said members of the Strategic Communication Interagency Policy Committee must be proactive and strategic in national security communication management.

He said the spokesmen in the security sector must address the worrying use of the media and social media platforms in creating division between the citizens and governments at various levels.

Ribadu also listed preponderance of fake news, misinformation, and disinformation as threats to national security and public engagement.

He stated, “Across the world, we have also assessed the adept use of social media platforms by those who seek power to shape public opinion against citizens. This threat is both global and local and presents an immediate national security priority.

“The urgency to prepare and be proactive in our national security strategic communication management is now, and the spokespersons have a critical role to play."

Ribadu asserted that the National Security Strategy 2019, currently under review, identified strategic communication as an element of national power.

He hinted that the strategy should be integrated into all operational aspects, including information operations, psychological operations, public diplomacy and public relations, so as to project the country’s national power and values.

The NSA also called for the adoption of a plan of action to engage Nigerians, build trust,

and counter violent extremism.

He charged the spokespersons to synergise and coordinate efforts to deny media space to terror groups and criminal elements, like Boko Haram and armed bandits, bent on stifling citizens’ freedom to life, dignity and security.

Ribadu said in engaging with the public, communicators in the security sector should adopt strategies that took into account the personal sacrifices of service personnel.

He said, “Upon the sweat and blood of service personnel and the men and women who protect us daily, we must build a narrative of resilience and mobilise our people.

“We must tell their stories and sing their praise as part of a broader national strategic communication programme.

“As spokespersons, you have a critical role to play in effective governance communication to project our results and reach audiences at home and abroad.

“Countering fake news will require that we are ahead of the news and proactively update the public.”

The NSA promised to ensure that, going forward, government communication aligned with President Bola Tinubu’s vision and directives, and the messages were well-coordinated and in line with national security objectives and values.

Mamu Seeks Transfer to Kuje Prison

Detained terrorist negotiator, Mohammed Tukur Mamu, yesterday, begged a Federal High Court in Abuja, to order his release from the custody of the Department of the State Service (DSS) to the correctional centre in Kuje.

Mamu, in an application moved on his behalf by his lawyer, Abdul Mohammed, SAN, specifically urged the court to vary the order remanding him in custody of the DSS.

The federal government is trying Mamu over alleged complicity in the Abuja-Kaduna train attack in 2022.

At the resumed trial, yesterday, his lawyer alleged that the order of the court made on December 19, 2023, that he be allowed access to his personal physician for medical

treatment was not complied with by DSS.

Mohammed stated that Mamu was allowed access to his physician only once, when a report of comprehensive medical examination on him was submitted to the DSS.

He alleged that since the submission of the report, Mamu’s physician had not been allowed to access him and that he needed urgent surgical operations in any hospital in the county.

The lawyer further claimed that Mamu’s health had since deteriorated and that he might lose his life any moment if he was not moved out of DSS custody to Kuje prison.

He promised regular attendance at the trial in the terrorism charges, adding that he could only stand trial when alive.

There was a mild drama during the proceeding, when a federal government lawyer, David Kaswe, who was billed to respond to Mamu's

RI o RITY

request, suddenly disappeared in the court room without any excuse or notification.

The situation forced the court to stand down the proceeding for over one hour, yet the prosecution counsel did not show up.

Justice Inyang Ekwo, who expressed shock over the lawyer’s attitude to the court, said, "I am aware that the prosecution counsel was in this courtroom this morning.

"The miracle of his disappearance is, however, beyond my understanding. This court stands on the side of justice and the antics of the prosecution will be tolerated for today's proceeding only."

Ekwo, however, invoked the rule of the court and ordered that the processes filed by the lawyer against Mamu's application be deemed adopted.

The judge subsequently fixed May 20 for ruling on whether to move the defendant out of DSS custody to Kuje prison or not.

G AND uje: No VA c AN c Y IN A

received the Certificate of Return yesterday as the governorship candidate of APC for the November 16 election in the state.

Meanwhile, a Kano High Court fixed May 16 to rule on whether criminal charges could be served on Ganduje, his wife, Hafsat Ganduje, and six others, through alternative means, in the ongoing corruption trial against them.

Ganduje urged the APC supporters and groups to be committed to the party so that it could continue to forge ahead.

He stated that the leadership of the New Nigeria Peoples Party (NNPP) and its chieftains were afraid, having been defeated in the last general election and already foreseeing another defeat.

Ganduje said the NNPP elements were now engaged in a propaganda campaign against the leadership of APC.

He said, "They are so afraid because we are consolidating. They are so afraid all over the country because we are receiving new entrants into our party. That is creating fears in their minds.

"They are already eyeing 2027, but at that time, there is no vacancy. Only our president, Asiwaju Bola Ahmed Tinubu, will, Insha Allah, continue as the president of the

Federal Republic of Nigeria."

Ganduje.taunted the leadership of NNPP and its chieftains in Kano State, accusing them of sponsoring protests and campaigning for his removal as APC national chairman.

Describing NNPP as a party of failed and arrogant politicians, Ganduje added, "What they are doing is African magic drama in order to convey a failed programme and projects by failed politicians. We will not allow them to continue with that.

"They are also sponsoring pockets of diffident protest from all over the country. They are spending a huge amount of money in order for people to demonstrate against the leadership of our party. It is a complete failure from what we have seen all over the country.

“The whole drama, political rascality, started from Kano with the government. Instead of responding to the yearnings, needs, and demands of the people of Kano State, they decided to divert attention.

"Our eyes are on those who are diverting our attention to political propaganda against the APC. Can we allow them to continue like that? We understand what they are doing. It is a political drama.”

Ganduje described NNPP as too insignificant to cause any upset politi-

that will guide the implementation of the process from beginning to the end in a transparent manner.

So in totality we target to complete 17 blocks on offer between now and early next year. High Impact Regulatory Initiatives and Achievements

He also disclosed that the Commission generated N4.344 trillion in revenues in 2023, a rise of 15 per cent from N3.78 trillion generated in 2022, N2.9 trillion in 2021 and N2 trillion in 2020.

The NUPRC also began its ‘due diligence’ on Renaissance Consortium’s planned acquisition of SDPC onshore oil assets for $2.4 billion.

In January this year, oil giant, Shell agreed to the transaction, announcing that when the deal is completed, the oilfields will be operated by the new group, comprising ND Western, Aradel Energy, First E&P, Waltersmith, and Petrolin, a Swiss firm.

However, Shell which has operated in Nigeria for over six decades, stated that the consummation of the deal was still subject to approval by the federal government.

Speaking at a workshop in Abuja organised to streamline the issues in the proposed divestment of the participating interests held by SPDC, Chief Executive of the commission, Gbenga Komolafe, noted that the event was to identify a successor who not only possesses the requisite financial resources but also demonstrates the technical expertise to responsibly manage the assets throughout their lifecycle Komolafe insisted that parties must ensure that the inherent environmental and end-of-life liabilities, including decommissioning liabilities, are accurately identified, and assigned to the party best equipped to bear

cally. He stated, "Now, you should know that they are sponsored by the Kano State government. And they are a small party. They are a micro party. They are a party that is terribly defeated all over the country. It is a party that is breaking down. It is a party that is a mixture of failed politicians.

“If you follow what is happening in that party, you will find out that it is a party that is sharply divided between those who are authentic members of the party and those who are fake members of the party, individualistic and so arrogant in the management of the political party."

Earlier, convener of the solidarity walk, Professor Salihu Alizaga, said loyal party men and women converged to show solidarity with Tinubu and the national chairman of APC.

In Ondo State, Aiyedatiwa received the Certificate of Return as governorship candidate of APC for the November 16 election.

Addressing journalists after the presentation, the governor said he had been in consultation with other aspirants after the primary and their meeting with the APC National Working Committee (NWC).

Aiyedatiwa said, "Today, the exercise has been completed with the presentation of certificate of return

According to him, this necessitates a comprehensive understanding of regulatory requirements, industry best practices, and the unique challenges inherent in oil and gas operations.

Komolafe also maintained that the regulatory agency was not averse to divestments in the oil and gas sector, emphasising that the NUPRC was committed to free entry, free exit business principle aimed at encouraging investors in the sector.

He underscored the importance of providing a stable regulatory framework that instils confidence and encourages investment, explaining that the NUPRC was implementing robust measures to streamline regulatory procedures and eliminate unnecessary barriers to investment.

Accordingly, the commission announced that it has developed a divestment framework consisting of seven cardinal pillars to guide the assessment of applications for ministerial consent to the SPDC divestment and other similar divestments.

He listed them as technical capacity, which highlights that the successor entity must demonstrate proven and verifiable capacity to operate the asset vigorously and in a business-like manner.

On the need to have adequate financial muscle, the commission disclosed that the NUPRC shall assess the prospective successor entity’s balance sheet and financial viability and verify readiness to undertake a defined work programme and fulfil required obligations on the assets.

“The acquiring entity must in line with the interest of the nation

to me. Today, I have become the candidate of our great party.

“I thank President Bola Tinubu for the leadership he has provided, Vice President Kashim Shettima for supporting the leadership, the national chairman, Dr Abdullahi Ganduje, for ensuring that we have a successful primary.

“I thank the other aspirants for showing sportsmanship. My arms are wide open to them for us to go into the election as one.”

Presenting the certificate to Aiyedatiwa, Ganduje said Ondo State would witness unprecedented development under the APC administration because of the sequence of continuity he had passed through.

Ganduje:

Tinubu Battling with Policy Summersaults By Previous Administrations

Ganduje said the Tinubu administration was battling an accumulation of many years of maladministration by previous federal administrations. Ganduje disclosed this yesterday in Abuja when leaders of Persons with Disabilities (PwDs) in the states paid him a courtesy visit. The PwD leaders passed a vote of confidence on Tinubu.

EDO HONOURS OSHIOMHOLE...

L-R: Edo State Deputy Governor, Omobayo Marvelous Godwins; President, Nigeria Labour Congress (NLC), Comrade Joe Ajaero; Edo State Governor, Mr. Godwin Obaseki; President, Trade Union Congress (TUC), Comrade Festus Osifo, and Chairman, NLC, Edo State Chapter Comr. Odion Olaiye, at the inauguration of Labour House Secretariat Complex named after a former governor of the state and former NLC President, Senator Adams Oshiomhole, in Temboga, Ikpoba Hill, Benin City, ... yesterday

Obaseki Increases Minimum Wage for Edo Workers to N70,000

Unveils new labour secretariat, names edifice after Adams Oshiomhole

Adibe Emenyonu in Benin City

The Edo State Governor, Mr. Godwin Obaseki, has increased the minimum wage for Edo workers from N40,000 to N70,000 effective May 1, 2024.

Obaseki disclosed this while delivering his speech at the inauguration of the Edo State Labour House Complex, a new building to serve as the Secretariat of the Labour Unions in the State.

The building located at Temboga, Ikpoba Hill in Benin City was also named after a former Governor of the State and former President of Nigeria Labour Congress (NLC), Adams Oshiomhole.

Guests at the occasion included the Edo State Deputy Governor,

Godwins Omobayo; Speaker Edo State House of Assembly (EDHA), Blessing Agbebaku; Secretary to State Government (SSG) and Peoples Democratic Party (PDP) Deputy Governorship Candidate, Osarodion Ogie.

Also in attendance were the Chief of Staff to the Governor, Dr. Osaigbovo Iyoha; Edo State Head of Service (HoS), Anthony Okungbowa and Edo PDP Chairman, Anthony Aziegbemi, among others.

Others were the President of the Nigeria Labour Congress (NLC), Joe Ajaero; President, Trade Union Congress (TUC), Festus Osifo; Chairman, NLC in Edo State, Odion Olaye as well as serving commissioners, among others.

The governor said: “As a result of

the cordial relationship between the Edo State Government and labour unions in the state, we have enjoyed peace and industrial harmony in Edo state.

“Despite our efforts to make life better for Edo State workers, there are forces beyond our control, as we don't control the national economy as our workers are still languishing in pain and penury.

“I give you insurance, improved conditions of service, pay you and promote you on time but the truth is that because of the economic situation in Nigeria today. Our workers continue to be challenged, there is devaluation, high food prices and inflation have made nonsense of the N40, 000 we are paying you.

“As a government, we feel your

pains and know your take-home pay can barely take you home. We will continue to try. I am one of those governors who believe that we can’t run away from the fact that we must adjust the minimum wage in Nigeria.

“ It would have been nice for there to be a central and cohesive and common approach. We would have expected that by now there should have been a direction as to what minimum wage will be for workers in Nigeria.

"We don't know when that will happen. If it happens, fine and if not, as a state we would need to do what we need to do. For us in Edo State, we have decided to move the minimum wage from N40,000 to N70,000 effective from

May 1, 2024.

“ I think like a capitalist and not a comrade. In my May Day speech, I will give more details on our new minimum wage. If the federal government imposes something higher, we would make the necessary adjustments.”

Commending the labour unions for their sustained partnership with the state government leading to the industrial harmony enjoyed in the state, he said: “You have joined us to pursue very deep institutional reforms in the state as our achievements have been made possible because of the cordial relationship we enjoy.

“Labour-government relationship should not be only at policy

contestation level, but should be an alignment towards a common goal for workers and that is what we have found in Edo. Government and labour have found a common ground to improve the lives of the workers in Edo state,” he added.

According to him, the building was conceived by Oshiomhole in office while his contribution was to make it happen.

“We have continued to invest in our workers in Edo state and our achievement in Edo state is to contribute to the welfare and wellbeing of Edo state workers. We not only developed the work environment but placed emphasis on building the capacity of Edo state workers.

UNCTAD Upgrades Global Customs Software, ASYCUDA,

The United Nations Trade and Development (now UNCTAD) has upgraded the Associated System for Customs Data (ASYCUDAWorld) to version 4.4, which introduces cuttingedge capabilities to help improve customs management across over 100 economies.

By rolling out version 4.4, ASYCUDAWorld, the UN agency seeks to bring a major boost to customs operations around the world.

ASYCUDAWorld 4.4, which provides an integrated and automated system for customs data, is the largest technical cooperation programme run by the UNCTAD.

The ASYCUDAWorld software is already live in 38 least developed countries, 23 landlocked developing countries, and 41 small island developing states.

The Nigeria Customs Service (NCS) was hooked on ASYCUDA 2.3, ASYCUDA 2.7 and ASYCUDA++ before migrating to the Nigeria Customs Integrated System (NCIS) 11 Platform.

Countries that have implemented ASYCUDAWorld can have 100 per cent of their cross-border trade transactions processed through the system.

New features of the ASYCUDAWorld software are up and running, helping enhance risk management, customs data gathering and compatibility with external systems, while further reducing paper use.

“The latest version of ASYCUDAWorld brings cutting-edge IT

to

Boost Trade in Developing Countries

capabilities to make international trade more reliable and secure.

“The upgrade complies with international standards, follows best practices, and was made in collaboration with user countries,”

The Director of Technology and Llogistics at UNCTAD, Shamika N. Sirimanne said.

As a key plank of its technical support, the ASYCUDA programme helps governments better identify fraudulent goods during customs clearance.

In this regard, ASYCUDAWorld 4.4 includes a “dynamic selectivity” feature, which calculates the risk of fraud by drawing insights from the customs declarations database.

Upon analysis, the dynamic selectivity tool automatically highlights risk profiles and associated declara-

tions, prompting more efficient fraud detection and targeted customs inspections.

Besides, the new function supports automatic management of traders' risk profiles, enabling faster clearance of consignments for Authorised Economic Operators, namely trusted traders.

The software update also enhances the reporting of customs control results, which will help governments access a wider range of customs data to inform policy decisions.

In addition, an updated graphic interface is in place to improve user experience, making it easier to compile data and generate trade statistics.

Stronger compliance and flexibility

Concerning compliance, the upgrade better integrates with standards of the International Air

Transport Association, whose data can now feed into the ASYCUDAWorld system in two specific formats.

This would ease the process for airlines and other logistics operators to provide governments with accurate information in line with international standards.

Additionally, the latest software allows third parties to add supporting documentation to a bill of lading electronically, furthering progress towards paperless trade.

User countries could also customise the system without requiring extensive technical support.

For more than 40 years, the ASYCUDA programme helps digitalise and expedite customs clearance processes across over 100 user countries, including many of the world’s most vulnerable economies.

NCAA Refutes Claims of N250m Official Car Purchase, Threatens Legal Action

Kasim Sumaina in Abuja

The Nigerian Civil Aviation Authority (NCAA) has refuted media report of purchase of 2022 Toyota Land Cruiser (70th Anniversary Edition) worth over N250m for its acting Director-General, Capt. Chris Najomo.

NCAA explained that all the directors at the agency had not been given any official vehicle since resumption of office.

To this end, the aviation agency has threatened to sue the publisher of the online medium if the story was not taken down.

An online medium, weekend, reported that, "A few months after appointment as acting director-general of Nigerian Civil Aviation Authority, NCAA, Capt. Chris Najomo is enmeshed in alleged financial recklessness, violations of

government procurement regulations, and gross abuse of office.

"The medium reports that the top aviation regulator had proposed to spend N3,000,000,000 on purchase of vehicles; N4,317,070,233 on “international transport”; N3,310,009,756 on “local transport and travels for training” and; N8,342,547,767 on “travels and transport.

"But soon after his appointment as acting DG on December 13, 2023, Mr Najomo went on spending spree, purchasing a 2022 Toyota Land Cruiser (70th Anniversary Edition) worth over N250m, which was not even captured in the budget."

Reacting, the Director of Public Affairs and Consumer Protection, Mr. Michael Achimugu, said there was nowhere around the world where the NCAA has paid for any vehicle since the resumption of Captain Najomo as head of the agency.

Fayemi to Deliver Prince Emeka Obasi Inaugural Memorial Lecture May 2

Former Ekiti State Governor, Dr. Kayode Fayemi, would on Thursday, May 2nd, 2024, deliver the Prince Emeka Obasi Inaugural Memorial Lecture at the Agip Recital Hall, MUSON Centre, Onikan, Lagos, beginning at 10.00 a.m. Fayemi would speak on, “If This Giant Must Walk; Manifesto for a New Nigeria”.

A statement by the Chairman, Advisory Board, Business Hallmark Public Policy Forum (PPF), Marc

Wabara, stated that the lecture was organised in honour of the second anniversary of the late founder and publisher of Business Hallmark Newspaper, Prince Emeka Obasi. On the lecture theme, Wabara stated that, “our consistent inability to address the failure of the Nigerian state to optimally deploy its abundant manpower and resources to fast track its growth and development after six decades of attaining political independence, as well as an overriding desire to sustain Prince Obasi's passion for a Nigeria that takes her pride of

place in the comity of nations were compelling factors.

"Nigeria should not be under performing the way it is doing right now. However, ignorance and lack of thorough appreciation of issues are some of the problems militating against the rapid development of our country.

"It is our conviction that Nigerians must first of all accept that there is a problem with the country before devising ways of helping her.

“We were therefore inspired to organise this lecture to help sustain our

late publisher's passion for a Nigeria that takes her pride of place in the comity of nations".

On the choice of Fayemi as the guest speaker, Wabara maintained that the former Ekiti governor and former Minister of Solid Minerals Development has a lot to share with the public on his success stories in the private and public sectors.

“He has distinguished himself as one of the best public servants the nation has ever produced while at the helm of affairs as Ekiti governor and Minister of Solid Minerals

Development.

"Many Nigerians will benefit from his pool of experience”, he added.

After Fayemi's presentation, a distinguished four man panel made up of Prof. Pat Utomi, founder and CEO of the Centre for Values in Leadership (CVL); Prof. Anthony Kila, Director, Centre for International Advanced and Professional Studies (CIAPS); Mr. Olufemi Awoyemi, Chairman and Founder, Proshare Nigeria and Senator Shehu Sanni, an author and social activist, will analyse and offer insights on the major themes discussed.

Oluchi Chibuzor

Ndubuisi Francis in Abuja

politics

Economy, Constitution Review, Electoral Reforms Top Legislative Agenda as N’Assembly Resumes Plenary Today

Sunday Aborisade writes on the task ahead of the red chamber of the National assembly

resumes plenary today after a five-week long Easter and Eid-el-Fitr vacation.

Members of the Senate are expected to resume plenary today after over a month recess to celebrate the Easter and Eid-el-Fitr festivities with their families and constituents.

President of the Senate, Senator Godswill Akpabio, had on Wednesday, March 21, 2024, adjourned plenary till April 16, to allow lawmakers observe the Easter and Eid-El-Fitr holidays.

The Senate and the House of Representatives last week, further postponed the resumption of plenary sessions originally slated for Tuesday, April 16, to Tuesday, April 30, 2024.

This adjustment, was said to be necessary to accommodate the completion of on-going renovations on the main chambers of both the Senate and the House of Representatives to ensure their readiness for plenary sessions.

The development was conveyed to the Senators by the Clerk to the Senate, Chinedu Akubueze, in an internal correspondence penultimate Saturday.

The message sent to senators read, “Distinguished Senators are hereby invited to note that the resumption of the plenary sitting of the Senate, which was scheduled for Tuesday, April 17, 2024 has been postponed to Tuesday, April 30, 2024.

“This postponement is owing to unforeseen circumstances, and any inconvenience this may cause is highly regretted.”

On resumption today, the Senate is expected to address the issue of the economy, security and governance.

The chamber is also expected to receive official communications from President Bola Tinubu urging the senators to screen for confirmation, all the persons nominated for various appointments during the recess.

Speaking with THISDAY on the activities before the Senate as members resume plenary today, the Chairman, Senate Committee on Media and Public Affairs, Senator Adeyemi Adaramodu, explained that the issues of constitution review and electoral reforms would also take the front burner.

Adaramodu said, “We are set for

We

resumption. We are going to continue to replenish our legislative agenda for the year. We have some bills and motions that are pending which we would attend to. The power committee has already started it’s work on the issues of improved electricity supply and the tariff. We are expecting their report so that we could deliberate on them. The Senate will take an action that will favour Nigerians regarding the over 300 per cent increase in electricity tariff for certain customers under the Band A classification when we resume plenary.”

It will be recalled that the Federal Government had through the Nigerian Electricity Regulatory Commission (NERC) about a month ago, approved an increase of 340 per cent in electricity tariff for customers under the Band A classification.

According to the NERC’s ViceChairman, Musliu Oseni, Band A customers will begin to pay N225 kilowatt per hour from the earlier price of N66. Band

are

A customers are those who enjoy 20 hours of electricity supply daily.

It was also revealed that customers under this classification represents 15 per cent of the 12 million electricity customers in Nigeria.

NERC vice-chairman however clarified that the review would not affect customers on the other bands.

Senate spokesperson, however, said relevant committees of the Senate had started working on the situation and would submit their reports on resumption to enable the Senate take a position that would be favourable to Nigerians.

Adaramodu said: “The relevant Senate Committees on Power had met and taken decisions on the situation and we would deliberate on it, when we resume.

“We are also going to really address the security issues. We are glad that we are getting some mileage already. We are going to deliberate on the economic issues also. Our committees on Finance, Banking and Finance have been meeting with relevant stakeholders on the issue and they will brief us appropriately.

“The issue of constitution review

going to deliberate on the

economic issues also.

Our committees on Finance, Banking and Finance have been meeting with relevant stakeholders on the issue and they will brief us appropriately. The issue of constitution review will be taken seriously immediately we resume. We will also consider the electoral reform seriously also. Already, committees have been constituted for the very germane constitutional issues in the Senate before we went on break.

We will make sure that we allow this process to take its normal course because we will hold meetings with critical stakeholders in the spectrum of Nigeria. We will embark on public hearing by visiting states across Nigeria and we will invite the public to have a say in whatever we want to put in either the electoral reform or the constitutional reform.

will be taken seriously immediately we resume. We will also consider the electoral reform seriously also. Already, committees have been constituted for the very germane constitutional issues in the Senate before we went on break.

“We will make sure that we allow this process to take its normal course because we will hold meetings with critical stakeholders in the spectrum of Nigeria. We will embark on public hearing by visiting states across Nigeria and we will invite the public to have a say in whatever we want to put in either the electoral reform or the constitutional reform.

“During the break, the relevant committees on the issue of petroleum were in the Port Harcourt refinery and they found out that the refineries were about 90 per cent completed.

They were also told that they would start producing PMS within the next two months.

“However, the issue of temporary petrol scarcity in Abuja is seriously being experienced but not so bad in other states.

We heard from the NNPCL management that it was due to logistic problems basically associated with distribution. It does not mean that it was scarce. The problem has to do with transporting it from the depot to the filling stations within Abuja and its environs.

“We will look at it when we resume but I don’t think it will be a serious problem since the NNPCL has already explained their challenges and how they are already addressing it. If it however persist, we shall look into it and make sure that we solve it,” Adaramodu assured Nigerians.

All eyes are therefore on the two chambers of the National Assembly, being the voice of Nigerians to take legislative actions that would further reduce the pains, agonies and the frustrations currently being experienced by the citizenry.

The hardship was due to high cost of living occasioned by the petroleum subsidy removal and floating of the nation’s currency, the naira, among other policies.

Akpabio Abass

Adaramodu

KALU

OKORONKWO urges a swift and decisive action to cleanse the institution of rot

IS TETFUND ALSO SOILED?

The recent allegations of embezzlement and fraudulent contracts against the management of Tertiary Education Trust Fund (TETFund)will be a big dagger piercing through the hearts of higher education in Nigeria as it is the only agency that has been commended hitherto for helping to bridge the infrastructural gaps in our tertiary institutions: universities, polytechnics and Colleges of Education across the country.

As students strive for knowledge and educators labour to impart it, the rot festering within the corridors of the funding institution threatens to undermine their noble pursuits.

The Fund’s procurement process serves as fertile ground for corruption to flourish. It was recently alleged that in one instance, TETFund paid a whopping sum of N2.9 billion to a questionable contractor for unexecuted job and could not provide evidence for the execution of the contract, including the list of participants, links to the online portal for the training, and pictures or video clips of training sessions.

TETFund as an intervention agency was set up

to provide supplementary support to all level of public tertiary institutions with the main objective of using funding alongside project management for the rehabilitation, restoration and consolidation of Tertiary Education in Nigeria.

It was established by the Act of 2011 after repealing the Education Tax Act Cap. E4, Laws of the Federation of Nigeria, 2004 and Education Tax Fund Act No. 17, 2003 and charged with the responsibility for imposing, managing and disbursing the tax to public tertiary institutions in Nigeria. The main source of income available to the Fund is the two percent education tax paid from the assessable profit of companies registered in Nigeria. The Federal Inland Revenue Services (FIRS) assesses and collects the tax on behalf of the Fund.

However, beneath its lofty mandate lies a labyrinth of deceit, manipulation, and exploitation, perpetuated by those entrusted with its stewardship.

It is a disturbing truth that corruption has woven its insidious tendrils deep within the very fabric of TETFund and exacerbating the already dire state of the nation's academic infrastructure.

According to a report by Premium Times, five days before the end of the administration of former President Muhammadu Buhari, the Tertiary Education Trust Fund (TETFund) secretly awarded a contract worth over N3.8 billion in disregard for the law. The said contact lacked any evidence of execution as investigations revealed further that the Fund paid the contractor a total sum of N2.9 billion in four installments between 30 June and 17 November 2023.

Also in violation of the law establishing it, TETFund sourced the funding for the project from the 2023 annual direct disbursement budget domiciled in the agency for the use of about 251 beneficiary institutions, that is, public universities, polytechnics, and colleges of education across Nigeria.

The 2023 direct disbursement budget for these institutions which amounted to N15.2 billion was

for Information Communications and Technology Intervention Projects. But instead of releasing the funds to the institutions as mandated by law, TETFund illegally deducted upfront 50 per cent of the funds from each of the institutions, amounting to a total of N7.6 billion.

It was also discovered that there was no evidence of bidding for the contract as demanded by Nigeria’s procurement law. Approval was neither sought nor given by the Federal Executive Council (FEC) or even by the President.

“TETFund bypassed these mandatory requirements to award the contract tagged: ‘Capacity Building Certificate Course (Communication, Entrepreneurship, and Productive Skill Development) inclusive of the Train-the-Trainer programme for 502 (five hundred and two) participants’” the report said.

Further investigation also revealed that the contract was awarded to a company that has no functional website while it is described by TETFund as “an IP Licensee for Prof. Klaus Stierstorfer, a copyright owner and intellectual property right holder in all range of communication skills development courses marketed globally under Edunet Solutions.”

The letter of contract award dated May 24,2023 was signed by the Director of Human Resources and General Administration, Kolapo Okunlola.

However, upon enquiry by PREMIUM TIMES on the subject, the Bureau of Public Procurement (BPP), the body statutorily empowered to regulate contract awards for ministries, departments, and agencies of the government, said “the contract is not found in its database.”

The contract award is therefore a violation of the Public Procurement Act 2007, which by virtue of its section 15(a), as applicable to “all procurement of goods, works and services carried out by: the Federal Government of Nigeria and all procurement entities”. The law under section 15(c) only exempts the procurement of special goods, works and services involving national defence or national security.

Further findings revealed that on June, 30 2023, the company’s account with Fidelity Bank Plc was credited with over N550 million by the Central Bank of Nigeria on behalf of TETFund. The transfer is with mandate number CBN/PROJ/224/ JUN2023. Over N820 million was additionally paid into the account on 12 July 2023.

While also on 26 July 2023 and 17 November 2023, the sums of N1.5 billion and N62.68 million were credited into the account by the CBN on behalf of TETFund, respectively.

Just recently too, the Human and Environmental Development Agenda (HEDA Resource Centre) petitioned the Economic and Financial Crimes Commission over alleged graft in TETFund.

The group urged the anti-graft agency to investigate alleged irregularities surrounding the contracts awarded by the agency.

The petition, which was addressed to Olanipekun Olukoyede, the Chairman of EFCC, was signed by HEDA’s Chairman, Olanrewaju Suraju.

Why the Economic and Financial Crime Commission has waded into the matter by inviting the Executive Secretary, Tertiary Education Trust Fund, Sonny Echono, to respond to cases of corruption against the Fund, mere dismissal of the deep rooted corruption allegation against TETFund by the Executive Secretary without tangible evidence to prove same amount to paying lip service to issues of endemic corruption plaguing the Nigerian society.

Okoronkwo is a leadership and good governance advocate. He writes from Lagos via kalu.okoronkwo@gmail. com

There are exciting times ahead, reckons AUSTIN ISIKHUEMEN

EDO 2024 IN THE ERA OF ARTIFICIAL INTELLIGENCE

Edo gubernatorial election is scheduled for September 2024. The umpire, the Independent National Electoral Commission (INEC), blew the whistle to mark the take-off of formal campaigning by the political parties and their candidates on 24th April 2024. Very soon we will begin to see the candidates on soapboxes throwing light on their manifestoes and explaining their strategies to better the lot of Edo people. There are exciting times ahead. Some will throw opacity as is their way in politics.

It is only the undiscerning that will not know that informal campaigns have long started at townhalls, palace engagements, visits to community leaders, campuses, bars and staff clubs, talk shows and social media platforms, social events like burials, coronations and birthday gigs as well as party secretariats across the state. These have been devoid of party slogans and noisy truck-mounted loudspeakers that make it impossible for folks to avoid what is being said and who is in the village square. But the message was so clear at this stage and the questions-and-answers part so enlightening that the grains are already being sieved from the chaff.

Let us have a look at what has happened so far. It

is said that it is with the first grain of corn that you tell the mouth that food is on the way. That is an Esan proverb. The English also say the morning tells the day. In order words, the initial step is indicative of the final outcome. Social media platforms and orthodox media including Television, Newspapers, Radio Stations are all being used by the candidates and their surrogates and opponents to market themselves and their candidates and his ideas or demarket their opponents. This methodology was used to devastating effect in the 2020 elections. This will even be more so in this era of artificial intelligence and ubiquity of broadband in which Edo leads most states of the Federation.

One of the characteristics that will make this Edo off-season Gubernatorial Elections very interesting for the voters and onlookers is the independent mindedness of most voters. A state with high proportion of well-educated voters that do not need an interpreter to understand what is being said without the risk of interpreter slant that is inevitably introduced when used. The pidgin English, widely spoken and understood by majority of our people, is going to take centre stage and any candidate who cannot speak it well should better enrol for night lessons.

I say this because making mistakes even in pidgin English would be taken by our people as a massive sign of unseriousness. Even capacity and capability deficit. Mark my words! So, better go and prepare even if you have to use AI which is highly used in learning these days. By AI, I do not mean Asue Ighodalo. I mean artificial intelligence. It is a mere coincidence that the acronym matches not only that of one candidate, it also matches my own as Austin Isikhuemen is also another type of AI though not yet of the gubernatorial hue!

So, how far did the pre-campaign period go? How did the candidates fare?

Have there been faux pas where any of the

candidates put their foot in the mouth, in a manner of speaking? Which candidate has been up and about, visibly, and which has been mostly crawling around in the dark? Which candidate has shone like a thousand stars as his own man? Which has shown up as a dull, uninspiring and follow-follow puppet of behind-the scene string pullers? Which of the candidates has been honouring all and any invitations and answering every question thrown at him by any medium? Which candidate, in your own view, has been unafraid to face any audience?

All the candidates in this race have pedigrees and track record. But can we also dispassionately judge which of the candidates has the required pedigree and track record to lead Edo State to a prosperous future where everyone, and not the godfathers alone, will benefit and enjoy the dividends of democracy and good governance? Which of these candidates can hold a meeting one-on-one with a Japanese or an American investor, understand what they are saying and not sell Edo State short out of ignorance or greed? Tell me!

Which of the candidates comes from a background of word-class good governance and management excellence rather than backdoor loot sharing and opaque disbursement of largesse? Which of the frontrunners is likely to have receipts for all his transactions and be unafraid of leaving an audit trail or indeed, deliberately leaves traceable documented evidences of what took place and how?

There are so many questions still. Which of the candidates has demonstrated youthfulness and made the youth the centre-stage of his quest for leadership? I will not tell you, ask the youth. Real youth. Not the 60-year-olds parading themselves as youth leaders! How familiar are the candidates with the things that the youth are passionate about?

Football, sports generally, learning, technology including AI. Contemporary dress sense too. Did you see the engaging sessions at some of the venues where the youths asked probing questions and were inspired with glowing words about what they can achieve based on their knowledge of principles and not who they know? Have you listened well to the ideas the candidates are sharing on women, people with disability, the elderly? It is the way a government treats the most vulnerable in its society that determines how good the government is.

Recently, President Tinubu delegated Governor Obaseki to represent him and Nigeria at a global forum The 60th International Art Exhibition (Biennale Arte 2024) organised by La Biennale di Venezia in Italy.

Which of the candidates in this race can be delegated such responsibilities without giving the President and Nigerians high blood pressure and a sense of underwhelming outcome? Olu, Manday or Asue? Think on that! What did the President see that made him send an opposition governor? That is the man they say the Federal might would be massed against in September? What do I know?

During this pre-campaign period, one or two certificates hit the social media. This is not new in Edo politics. It was centre-stage in 2020. There was an unprecedented appearance of an official of a foremost university coming out to attest to the authenticity of an alumnus of whom they are very proud! That had not happened before and has not happened again since. So, every candidate had better prepare for this sort of politico academic manoeuvre. Saying “e no mean”, pidgin for “it doesn’t matter”, may not work in this time of technology and knowledge engineering!

Editor, Editorial Page PETER

ISHAKA

Email peter.ishaka@thisdaylive.com

REFORMING THE JUSTICE SECTOR

Merit must dictate appointments in the Judiciary

The Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola last week listed corruption, inefficiency and undue influence as some of the ills afflicting the judiciary in the country. “We must critically examine our legal framework, identifying gaps and inconsistencies that hinder the efficient administration of justice,” Ariwoola said at a two-day national summit on justice. “Moreover, we must be bold in our pursuit of legislative reforms that reflect the evolving needs of our society while upholding the principles of fairness, equality, and human rights.”

According to Ariwoola, a “constitutional, statutory and operational reform in the justice sector is imperative in meeting the aspirations and yearnings of the general public.”

In his presentation, Senate President Godswill Akpabio said that the summit should not be another talking forum but a call to action. Citing some recent cases to buttress his point, Akpabio called on the National Judicial Council (NJC) to stop judges from abusing ex parte orders, especially in political cases. He also called for prompt and decisive punishment for erring judges found to be involved in this abuse. “We further propose that the NJC establish clear and detailed standards governing the issuance of ex parte orders, accompanied by a defined set of sanctions for violations,” said Akpabio. “These sanctions should be severe enough to deter people from future abuses.” The Nigerian Bar Association (NBA) called for a reform of the NJC itself. The body is statutorily headed by the CJN who also chairs the Federal Judicial Service Commission. The “inherent flaws in the composition of the NJC”, according to the NBA, “impacts negatively on its ability to prosecute judicial misconduct in a manner that inspires public confidence.” But the expectation that the CJN, who also doubles as the chairman of the NJC statutorily saddled with the responsibility for appointment, promotion and

No one should expect a positive delivery from a bench that is populated by judges who got the job because of their filial affiliation

BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY

DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

LETTERS EDITORIAL

discipline of judges, will initiate the necessary reforms seems misplaced. The current CJN appears uninterested even when there are several reports with which he can institute the reform.

We recently commended the decision by President Bola Tinubu to increase the salaries of judicial officers in the country. But we also added that it is not a silver bullet to the challenge of justice administration in Nigeria which requires a wholesale reform, beginning with the criteria for appointment to the bench. From Customary to the Supreme Court, appointment of Judges is now fraught with controversies and allegations of impropriety. No one should expect a positive delivery from a bench that is populated by judges who got the job because of their filial affiliation. No one should expect a judiciary where senior judges lower the criteria for appointment to make it easier for their sons and daughters to be appointed as judicial officers to perform better.

In October 2020, then Vice President, Yemi Osinbajo, joined the list of those advocating reform of judicial appointments. “If we leave it to the system that is going on at the moment; we are clearly headed in the wrong direction because interest whether the private, political or group influences how judges are appointed”, he said even though the administration he served did nothing about the issue. “We must agree to an objective process to rigorously examine, test and interview all of those who want to come forward as judges.” Osinbajo’s words were reechoed last year by Justice Adamu Dattijo. “Appointments should not be polluted by political, selfish, and sectional interests. The place of merit, it must be urged, cannot be over-emphasized,” Dattijo said at his valedictory from the Supreme Court.

Perhaps because those in leadership positions are themselves beneficiaries of the same skewed appointment process, nobody wants to rock the boat. But there is an urgent need for a reform of the justice sector in Nigeria.

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.

ENHANCING EDUCATION STANDARDS IN FCT

The Federal Capital Territory (FCT) is witnessing an influx of people who come in with their children thereby overstretching school facilities.

Thankfully, we wish to commend the quick and timely intervention of the FCT Minister, Nyesom Wike, who is providing more classrooms and renovating dilapidated structures thus making them available for use again. The FCT Universal Basic Education Board (UBEB) is able to accommodate the increasing numbers.

The UBEB and the head-to-head debate committee aims at putting out- of -school children back in school through the advocacy of the free but compulsory education. But there is urgent need to appreciate the help and collaboration of able organizations to assist in providing well-equipped facilities that would make our dream of a televised reality TV show where parents would watch their children and wards live on TV like they do in Big Brother Naija. We have great plans but we are held down by financial constraints.

Therefore this is to applaud the initiative of the FCT Reform

Coordination and Service Improvement (RC&SI) Department for the initiative to collaborate on activities that would enhance and showcase the standard of education in the FCT.

FCT UBEB and the head-to-head debate committee members recently sought an advocacy for synergy with the Ag. Director of the Department, Dr. Jumai Ahmadu, who has already reiterated that this initiative would turn out to be a pilot initiative which every other state would take a cue from and introduce to their home schools.

The FCT Administration, the director said, is pleased to be pace-setters of positive epoch making events and as such would not withhold their continued support, pointing out that it is the responsibility of all to ensure the success of this initiative. According to her, carrying the FCT Identity card automatically makes you responsible for other citizens and residents of the FCT.

The federal government that just launched a similar initiative tagged 'At-risk Children' would now know that we have gone ahead of them having started two years earlier than

them, so they can meet up with us half way.

We have also been informed that there is also a center for very proactive boys who produce drones, tractors and other heavy- duty engines, but because they don't have enough support, they've moved into creating local stoves that their mothers are using and also selling to make a living. We therefore commend the FCT Reform Coordination and Service Improvement (RC&SI) Department for promising to ensure that this flagship project of ours is taken across the shores of Abuja and Nigeria so that our efforts and sacrifices will be rewarded.

FCT is a brand that many people want to be associated with. There are lots of private outfits that are always willing to partner with the FCT especially for productive projects like this, that they know when history is being recounted, they will be proud to say they had partnered on such a huge beneficial project. But all we need to do is get everyone involved and we will begin to count our success.

Dr. Alhassan Sule, Chairman of FCT Universal Basic Education Board (UBEB)

National Summit on Justice 2024: Addressing Justice Sector Issues Frontally

Chief Justice of Nigeria, Hon. Justice Olukayode ariwoola

attorney-General of the Federation, Prince Lateef Fagbemi, SaN

Senate President, Senator Godswill akpabio

Vice President, Federal Republic of Nigeria, He Senator Kashim Shettima

LAWYER

National Summit on Justice 2024: Addressing Justice Sector Issues Frontally

Quotables

columnIsts

‘Terrorists find a willing home with deeply disillusioned, excluded and desperate people. We must formulate responses that address these conditions, and, in doing so, we must pay attention to our women and girls who bear the greatest impact of insecurity….’ - Amina J. Mohammed, GCON, Deputy Secretary General, United Nations

‘Independence of

the Judiciary,

Effect of Improper Filing of Application for Pre-Hearing Notice in Election Petition

Page IV

ALP NG & Co and Africa Legal Associates (ALA) Ghana Forge Strategic Alliance

Page X

is the fundamental

integrity.’

pillar of judicial

- Dr Willy Munyoki Mutunga, EGH, Retired Chief Justice of Kenya and President of the Supreme Court of Kenya

JOY HARRISON-ABIOLA MBA, MCMI, FSM

Law firms must pay attention to developing business best practices, and the multidisciplinary competences required to run a successful business.

“FROM THE BACK OFFICE” explores these concepts and ways to re-engineer the contribution of the legal management professionals within law firms.

Joy Harrison-Abiola, is an adept Organisation Development, Leadership and Business transformation professional with a mission to “humanise the workplace and empower individuals to reach their full potential.” The natural outcome is increased organisational efficiency, and higher levels of success for all. With over 25 years’ experience, she possesses a demonstrated track record of advocating and interacting with law firm leaders, to institutionalise business best practices in their law firms. She is a trusted advisor to several law Partnerships, providing subject-matter input into strategy formation and implementation.

Joy Harrison-Abiola worked at Dentons ACAS-LAW for 22 years, providing strategic oversight to the business aspects of the Firm. She is the co-founder and President Emeritus of the Association of Law Firm Administrators, Nigeria; Chairperson of the IBA Law Firm Management CEO Subcommittee; Founding Member of the International Relations Committee (Africa) - Association of Legal Administrators Illinois USA; Fellow, Institute of Strategic Management of Nigeria (Chartered); Board Advisor, Business Africa Online; Member of Faculty, Centre for Organisational Leadership and Development; Executive Director, Catalyst for Peace and Justice; Founder Jenet-Serem Empowerment Foundation.

OLAWALE FAPOHUNDA, SAN

Olawale Fapohunda, SAN is the Immediate Past AttorneyGeneral of Ekiti State. A frequent contributor to Thisday Lawyer since its inception, he has written severally on the limitations of the administration of justice system in Nigeria, and the need for urgent reforms. He has played a leading role in several governmental and non-governmental initiatives, aimed at enebling legal, policy and administrative interventions, for managing the justice system and the institutions, that deliver justice. SERIOUS MATTERS airms to contribute to national discussions on law reform, institutional strengthening, and good governance across the three arms of government.

As Yahaya Bello Makes Mockery of the Law

All Men are Equal Under the Law: Myth or Reality?

It is patently clear that even if God created all human beings equal, and every Constitution in the world reiterates the fact of this equality in one way or the other, the reality is that, societal practice makes it untrue. Take for example, the American Declaration of Independence of 1776 which states that “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness” The 14th Amendment to the US Constitution enacted after the American Civil War of 1861-1865, to combat discrimination and ensure the rule of law, guarantees equal protection under the law. Similar provisions are echoed in the Preamble of the 1999 Constitution of the Federal Republic of Nigeria (as amended in 2023)(the Constitution) and other sections thereof, like Sections 15(2), 17(3)(a),(e) & 42, which altogether promote equality, equity and fairness and prohibit discrimination on any basis. Unfortunately, in reality, the opposite seems to obtain, not just in Nigeria, but in many parts of the world, as there appears to be two sets of laws, one for the majority and another for the privileged and/or highly placed minority.

USA There was the case of Leonard Mack, an African American who spent 47 years in prison, having been wrongly convicted inter alia of rape. With the advent of DNA testing, he was finally exonerated, as the test proved that the biological samples that were found on the scene belonged to another person, and not him. The person who was identified by the DNA test, also confessed to his crime. Juxtapose this with world famous, wealthy film Producer, Harvey Weinstein, whose New York rape conviction appears to have been overturned based on technicalities, and not substance/merits of the case, unlike that of Leonard Mack. If not that he is serving a 16 year sentence on other rape and sexual assault charges as a result of his conviction in Los Angeles, Mr Weinstein may have already been home sipping ‘pina coladas’, a free man.

As we were watching the proceedings in Donald Trump’s immunity suit, I couldn’t help but wonder whether if an ordinary American citizen had orchestrated what Mr Trump had on Capitol Hill after he lost the 2020 election, whether that person wouldn’t already be serving imprisonment for “Advocating the Overthrow of Government” contrary to U.S.Code Title 18 Part 1 Chapter 115 § 2385, and upon conviction punishable with a fine or not more than 20 years imprisonment or both. Even if a President has immunity for official acts done while still in the White House, surely, inciting people to violence or insurrection, or paying hush money, cannot be classified as part of the President’s official duties, and the only reason that I can see for Donald Trump not being in jail, and this back and forth in the US Courts, is because President Trump is one of the privileged and most highly placed minority who seem to enjoy a different set of laws from the ordinary man, even when they are no longer in office.

Prevalence of Double Standards in Nigeria and Procedure for Prosecution

These double standards are also prevalent here in Nigeria - one law for the majority, another for politicians and militants/insurgents (who confess repentance, and can be forgiven). As a result of the emphasis by Yahaya Bello’s supporters that he was not ‘Invited’ by the EFCC, as if the EFCC is holding a birthday party that is strictly by invitation, I decided to run through the laid down procedure of arrest.

Reasonable Suspicion, Investigation & Arrest

Section 35(1) of the Constitution guarantees every individual’s right to liberty except in certain circumstances, one of which is provided in Section 35(1)(c) thereof, that is, when there’s reasonable suspicion that the individual has committed a criminal offence; such a person can be arrested by the Police or Security agency, in accordance with a procedure permitted by law. Section 3 of the Administration of Criminal Justice Act 2015 (ACJA) provides that a suspect or a Defendant charged with committing an offence established by statute shall be arrested, investigated, inquired into, tried or dealt with in accordance with the provisions ACJA. Additionally, Section 6(b) of the Economic and Financial Crimes Commission (Establishment) Act 2004 (EFCC Act) empowers EFCC to investigate all financial crimes including money laundering, while Section 6(h) also empowers EFCC to examine and investigate all reported cases of economic and financial crimes, in order to identify those involved.

The first point to note, is that the Constitution and ACJA do not require EFCC to extend a formal invitation to Yahaya Bello (YB) or any other suspect, nor does a suspect have to be formally charged before they can be arrested. The caveat is that, there must be sufficient evidence before an arrest is made. In Fawehinmi v IGP & Ors (2002) LPELR-1258 (SC) per Samson Odemwingie Uwaifo, JSC, the Apex Court held inter alia that “….it is unlawful to arrest, until there is sufficient evidence upon which to charge and caution a suspect”. We all know that in Nigeria, many a time, quite the opposite occurs, that is, arrest first, then evidence gathering subsequently.

“…..the Constitution and ACJA do not require EFCC to extend a formal invitation to Yahaya Bello (YB) or any other suspect, nor does a suspect have to be formally charged before they can be arrested. The caveat is that, there must be sufficient evidence before an arrest is made”

Ideally, a person should be charged to court 24-48 hours after arrest (see Section 35(5) of the Constitution); but, in the case of YB, the fact that a charge had been filed against him before February 5, 2024 shows that the EFCC had taken their investigation to an advanced level before then. According to the EFCC Chairman, Mr Ola Olukoyede, he inherited the case file from his predecessor-in-office, meaning that investigations had been ongoing for a while. In fact, in a related case, sometime about December, 2022, YB’s nephew, Ali Bello, one Dauda Sulaiman and a Kogi State Government House cashier had been arraigned in a case involving the withdrawal of N10 billion from the Kogi State Treasury for personal use. These three other Defendants, are also part and parcel of the 19 counts filed against YB, concerning the alleged purchase of over 11 properties including one in Dubai, UAE. In YB’s case, it appears that there is enough evidence to reasonably suspect him of committing crimes contrary to the Money Laundering (Prohibition) Act 2011 (as amended) (MLA).

Rights of a Suspect

If a suspect is not arrested in the act of committing a crime, then the arresting officer must immediately inform the suspect of what they are being arrested for, and inform him/her of their rights - the right to remain silent, the right to a legal practitioner etc - see Section 35(2) of the Constitution and Sections 6 of ACJA. Section 35(3) of the Constitution stipulates that an arrested person must be informed of the grounds of arrest within 24 hours. See the case of Ankwa v State (1969) LPELR-25460(SC) per George Baptist Ayodola Coker, JSC. The arresting agency can then interrogate the suspect. Apart from Section 8(1)(a) & (b) of ACJA which provides that suspects must be treated humanely, they must not suffer torture, cruel or inhuman treatment, Section 2 of

the Anti-Torture Act 2017 (ATA) defines acts of torture like obtaining a suspect’s confession by inflicting pain on them - whether physical or mental; while Section 9 (1) & (2) thereof prescribes punishment of up to 25 years imprisonment and trial for murder in the case of the death of a suspect during torture, respectively.

Bail

The arresting agency can grant a suspect administrative bail before the charges are filed, particularly if the investigation hasn’t been completed. Section 35(4) of the Constitution also sets out timelines for charging a person to court, failing which such individual is either released unconditionally or with conditions to ensure they attend trial at a later date - Section 35(4)(a) provides within two months of the date of arrest or detention if the person is in custody or is not entitled to bail (for instance, the person may not be entitled to bail, if the person is a flight risk, or is likely to interfere with the investigation or witnesses, or commit another crime - see the case of Suleman & Anor v COP Plateau State (2008) LPELR-3126(SC)) and it would be foolhardy to grant them bail; or Section 35(4)(b), charged to court within three months, if the suspect is released on bail.

From the above-mentioned constitutional provisions, it appears that the EFCC can arrest, detain a person without bail, and may have up to two months to bring them before a court of competent jurisdiction. It could be during this time that the detainee could apply to court to enforce their fundamental rights, if they believe that their arrest is unlawful or they have been wrongfully denied their right to liberty - see Sections 46(1) and 251(1)(r) of the Constitution. A Defendant who has been charged to court, can also apply to the court to be granted bail.

Justice Sector Summit: Independence of the Judiciary I attended the 2024 National Summit on the Justice which held in Abuja last week, and not having exclusive knowledge of all the law, I asked a few legal luminaries present there about seeking and obtaining an injunction to prevent the arrest of an individual, when such individual is reasonably suspected to have committed a crime. They all separately responded, that they are not aware of such a process in that context. As far as I’m concerned, such a process is unconstitutional as it is inconsistent with, and defies the purpose of Section 35(1)(c) of the Constitution.

One focus of the Justice Summit was the issue of the independence of the Judiciary necessitating the strict implementation of Section 121 of the Constitution, so that Chief Judges don’t have to go to their Governors with a begging bowl to fund their courts, and the State Judiciaries are not subservient to the Governors. We see this situation of subservience clearly in the Kogi State/YB scenario, where it appears that the trial Judge was simply doing the bidding of YB, without regard for the Constitution or the law. The National Judicial Council (NJC) must deal with erring judicial officers decisively, to act as a deterrent to others who choose to indulge in all manner of abuse of court processes.

Conclusion

In the past, I criticised the way that the EFCC carried out some of its activities. But, in YB’s case, I’m struggling to see where EFCC has gone wrong. It appears that the EFCC had filed charges against YB at the Federal High Court (FHC) even before he went to the Kogi State High Court (KHC) to obtain an ex-parte order to prevent his arrest. In fact, on February 5, 2024, the EFCC had sought to amend the charges it had already filed against YB and his co-Defendants, four days before YB secured his interim order to prevent his arrest. If that wasn’t forum shopping of the highest order from the favourable store manned by Jamil J. of the KHC, I wonder what is? A clear case of abuse of court process. Though the Apex Court in EFCC v Wolfgang Reinl (2020) LPELR-49387(SC) & Ihim v Maduagwu (2021) LPELR-53906(SC) held inter alia that both the State High Court and FHC have concurrent jurisdiction in a matter pertaining to the enforcement of rights, should YB not have made his application for the so-called enforcement of his rights at the FHC where his case was already pending, and where, by virtue of Section 251(1)(r) of the Constitution, the FHC has exclusive jurisdiction, since it is a matter involving a government agency, that is, the EFCC? And, what rights exactly, did YB seek to enforce or protect? To ignite enforcement of rights in this context for instance, there must be something - maybe unlawful arrest/detention; you can’t build something on nothing. In Jaiyesimi & Anor v Darlington (2022) LPELR-57344(SC), the Apex Court held that an action to enforce fundamental rights, is almost invariably a complaint against a tortious act. YB hadn’t even been arrested! Or it is a breach of YB’s fundamental rights, to reasonably suspect him of committing a crime? See the case of Living Mitin v CP Bayelsa State Command Yenagoa & Ors (2022) LPELR-59029(SC) per Kudirat Motonmori Olatokunbo Kekere-Ekun, JSC. Lawyers who participate in all these abuse of court processes, should also be sanctioned. And, for our learned colleagues, who for reasons best known to them, have a penchant for going to all forms of media to turn the law on its head and mislead the unknowing public, shame on them! We have complained about our institutions being weak, about Politicians dipping their hands into the treasury to the detriment of the people; now that the EFCC is trying to represent the interest of the people of Kogi State, some Lawyers have taken it upon themselves to harp on a useless point that the law doesn’t mandate - that YB wasn’t invited by EFCC!

The allegations that have been levelled against YB are too weighty to be treated with such levity, or swept under the carpet or ignored; they require answers. YB has been charged under the MLA, for offences which carry a punishment of between 7 and 14 years imprisonment upon conviction (Section 15(3) of the MLA). N84 billion no be beans! One can imagine how many Primary School classrooms in Kogi State, could have been renovated with the $800,000+ that YB is alleged to have expended on his own children’s advance school fees at American International School, Abuja. YB is not protected by Section 308 of the Constitution’s immunity clause, as he’s no longer the Governor of Kogi State. And, like everyone else, he is subject to the law; he is not above it. One thing that ‘Kogites’ and Nigerians generally do not want to hear, is that YB has fled the country and is now at large, like one of his co-Defendants, the cashier. As things stand, YB appears to be nothing more than a coward, a nambypamby trying to evade the law. Whether KHC institutes questionable contempt proceedings against the EFCC Chairman or not, it doesn’t change the fact that there are 19 criminal charges pending against YB. He should man up and face them. And, while what Governor Ahmed Ododo has done so far to assist YB evade the authorities is bad enough, should YB flee, Mr Ododo should face impeachment and removal proceedings, as his actions certainly qualify as gross misconduct.

Former Kogi State Governor, Yahaya Bello

Effect of Improper Filing of Application for Pre-Hearing Notice in Election Petition

Facts

The 2nd Respondent was declared the winner of the Governorship election conducted in Kaduna State on 18th March, 2023 by the 1st Respondent, having scored majority of the votes cast. The Appellants, being aggrieved by the declaration and return of the 2nd Respondent as the Governor-Elect of Kaduna State, filed a petition at the Kaduna State Governorship Election Tribunal challenging the result of the election. Upon being served with the petition, the Respondents filed their respective replies. Following the filing and service of the 3rd Respondent’s reply on 16th May, 2023, the Appellants filed an application for issuance of pre-hearing notice on the same day. However, after the 2nd Respondent filed his reply on 26th May, 2023, the Appellant filed another application for issuance of pre-hearing notice on the same date, following which a pre-hearing information sheet was issued by the Secretary of the Tribunal.

Thereafter, the 2nd and 3rd Respondent filed similar applications praying the Tribunal to dismiss the petition for being abandoned on the premise that the Appellants’ application for pre-hearing notice was made and served prematurely before the close of pleadings, contrary to paragraph 18(1) of the First Schedule to the Electoral Act, 2022.

The Tribunal heard the applications, and reserved its decision on same until final judgement. In its judgement, the Tribunal by a majority decision ordered supplementary elections in 22 polling units in Kaduna State. The Tribunal in the same breath, granted the 2nd and 3rd Respondent’s applications and dismissed the Appellants’ petition, on the ground that the Appellants’ application for issuance of pre-hearing notice was premature as pleadings closed on 30th May, 2023 when the 2nd Respondent was served with the Appellants’ reply to the 2nd Respondent’s reply and the Appellants must be deemed as having abandoned the petition. The Tribunal also found that the Appellants’ failure to first withdraw their previous application for issuance of pre-hearing notice filed on 16th May, 2023 before filing the subsequent application on 27th May, 2023 rendered the latter application incompetent.

Aggrieved by the dismissal of the petition, the Appellants appealed to the Court of Appeal. The Respondents also filed a cross-appeal, challenging the order made by the Tribunal directing supplementary elections in 22 polling units. After hearing arguments of parties on the main appeal and the cross-appeal, the Court of Appeal dismissed the Appellants’ appeal; however, it allowed the Respondents’ cross-appeal against the Tribunal’s order for supplementary elections. The order was consequently set aside. Dissatisfied, the Appellants appealed to the Supreme Court.

The parties filed their briefs of argument in which they raised their respective issues for determination. The 1st Respondent also filed a Notice of Preliminary Objection in which it challenged the competence of ground one of the Appellants’ Notice of Appeal. The 2nd leg of the 1st Respondent’s objection, was premised on the ground that the appeal had become academic on account of the Appellants’ failure to appeal against the concurrent findings of the Tribunal and the Court of Appeal, that the Appellants failed to comply with the mandatory provision of paragraph 18(1) and (3) of the First Schedule to the Electoral Act.

The 3rd Respondent also filed a Notice of Preliminary Objection challenging the entire appeal. Whilst the Supreme Court found that the 3rd Respondent’s preliminary objection was incompetent; the Court struck out the first leg of the 1st Respondent’s preliminary objection for lack of merit. The Apex Court however, decided that it would be prudent to determine the question raised in the second leg of the 1st Respondent’s objection in the substantive appeal, since the same issue was an integral part of the issue for determination in the appeal.

Issue for Determination

The Apex Court considered the following issue raised as issue 1 in the Appellants’ issues for determination: Whether the lower Court was right, when it affirmed the decision of the trial tribunal which invalidated the subsequent application for the issuance of pre-hearing Notice filed by the Appellants which was not the subject of the application filed by the 2nd Respondent and consequently, affirmed on that ground, that the petition was abandoned.

In the Supreme Court of Nigeria Holden at abuja On Friday, the 19th day of January, 2024

Before their lordships

Kudirat Motonmori Olatokunbo Kekere-ekun uwani Musa abba aji Mohammed Lawal Garba Ibrahim Mohammed Musa Saulawa Tijjani abubakar Justices, Supreme Court

SC/CV/1240/2023

Between

1. MOHaMMed aSHIRu ISa

2. PeOPLeS deMOCRaTIC PaRTy aPPeLLaNTS

And

1. INdePeNdeNT NaTIONaL eLeCTORaL COMMISSION

2 SaNI uBa ReSPONdeNTS

3. aLL PROGReSSIVeS CONGReSS (aPC) (Lead Judgement delivered by Honourable Tijjani Abubakar, JSC)

Arguments

Counsel for the Appellants argued that the 2nd and 3rd Respondent’s applications in which they prayed for an order of the Tribunal dismissing the petition was predicated upon the Appellants’ application for the issuance of pre-hearing notice filed on 16th May 2023.

Counsel contended that by the subsequent filing of a fresh application for issuance of pre-hearing notice on 26th May 2023 by the Appellants, the earlier application filed on 16th May 2023 was abandoned and devoid of any legal efficacy. He relied on COLLINS v DHL INTERNATIONAL NIGERIA LIMITED (2021) LPELR -58369 (SC).

“….the said provisions make it mandatory that an application for the issuance of pre-hearing notice, as in Form TFOO7, must be made within seven days after pleadings have closed…. Appellants’ failure to bring a valid application for issuance of pre-hearing notice….the Tribunal must dismiss the petition as abandoned….”

Counsel for the Appellants submitted that the Court of Appeal erred when it affirmed the decision of the Tribunal granting the 2nd and 3rd Respondents’ applications for dismissal of the Appellants’ petition and dismissed the said petition on the basis of the Appellants’ application for pre-hearing notice filed on 26th May 2023, rather than on the basis of the Appellants’ application filed on 16th May 2023 the same being the actual process challenged in the 2nd and 3rd Respondents’ applications.

Responding, counsel for the 1st Respondent contended that the Appellants’ argument that pleadings closed on 26th May 2023, the same date the Appellants filed their reply to the 2nd Respondents’ reply but had not served the same, did not represent the state of the law. Counsel argued that pleadings are deemed closed at the filing and service of either the Respondent’s reply or the petitioner’s reply and it is the filing and service of either of these processes as the case may be, that triggers the necessity for an application for issuance of pre-hearing notice. Relying on DIMEGWU v OGUNEWE (2008) 17 NWLR (Pt. 1116) 358 at 393, PARAS E- F, counsel submitted that the Court of Appeal was right when it held that the Appellants’ application for issuance of pre-hearing notice filed on 26th May 2023 was incompetent.

Counsel for the 2nd Respondent made

arguments similar to that of counsel for the 1st Respondent and further contended that the filing of two applications for issuance of pre-hearing notice by the Appellant without withdrawing one of them, constituted gross abuse of judicial process. Counsel for the 3rd Respondent also made similar arguments and ultimately urged the Court to resolve the issue against the Appellants.

Court’s Judgement and Rationale

In deciding the issue, the Apex Court noted that the Appellants did not appeal the decision of the Tribunal declaring the Appellants’ second application of 26th May, 2023 as being incompetent, due to the Appellants’ failure to withdraw the application of 16th May, 2023. The Court held that where a party fails to appeal against a holding of a lower court, that decision remains binding and conclusive between the parties; hence, the implication of the Appellants’ failure to appeal the said decision is that the Appellants were satisfied with the decision and are therefore, bound by it.

The Court also noted that the Appellants had not disputed the fact that their application of 16th May, 2023 for issuance of pre-hearing notice was filed before pleadings closed, contrary to Paragraph 18(1) of the First Schedule to the Electoral Act, 2022 and was thus, incompetent. The Apex Court held that, it cannot therefore, activate its appellate jurisdiction in respect of an issue/decision for which there was no appeal. The Court referred to its decision in OPARA v DOWEL SCHLUMBERGER (NIG) LTD & ANOR. (2006) LPELR-2746 (SC).

Regardless of the above finding, the Supreme Court however, deemed it necessary to give clarity on the effect of the provisions of Paragraph 18(1) of the First Schedule to the Electoral Act. The Court noted that the said provisions make it mandatory that an application for the issuance of pre-hearing notice, as in Form TFOO7, must be made within seven days after pleadings have closed. The Apex Court held that for the purpose of the said provision, pleadings are deemed closed upon the service of the Petitioner’s reply on the Respondent or the last Respondent to be served, where there is more than one Respondent OR service of the Respondent’s reply on the Petitioner, where the Petitioner decides not to file any Reply to the Respondent(s) reply. The Court held further that by the letters of Paragraph 18(1), no application can be made for issuance of pre-hearing notice before pleadings are closed, and after the seven days of the close of pleadings, placing reliance on its decision in MAKU & ANOR. v SULE & ORS (2019) LPELR-58513 (SC). The Court held that therefore, when, in this case, the Appellants as Petitioners made their application for the issuance of pre-hearing notice on 16th May, 2023, (or even the second application on the 26th May, 2023) whereas, the Appellants’ Reply was served later on the 2nd Respondent on 30th May, 2023; there was no doubt that the two applications were filed prematurely without giving consideration to the fact that some of the Respondents had not been served with the Appellants’ reply, and the seven days after the filing and service of said reply had not lapsed.

The Court found that the Appellants’ applications of 16th May, 2023 and 26th May, 2023 for pre-hearing notice thus, had no validity, were both null and void and of no effect whatsoever. The Court held that the consequence of the Appellants’ failure to bring a valid application for issuance of pre-hearing notice in compliance with the provision in Paragraph 18(1) of the First Schedule to the Electoral Act, 2022, is that the Tribunal must dismiss the petition as abandoned, as provided under subsection 4 thereunder.

Appeal Dismissed.

Representation

Kenneth E. Mozia, SAN; Ahmed Raji, SAN; Agbola Olaniyi Adeleke, SAN; Samuel Atung, SAN with K. J. Atung for the Appellants.

Abdullahi M. Aliyu, SAN; T. M. Inuwa, SAN; Alhassan Umar, SAN; Prof Nasiru A. Aliyu, SAN with Emmanuel A. Osayomi for the 1st Respondent.

Chief Bayo Ojo, SAN; Chief Duro Adeyele, SAN; Sunusi Musa, SAN; M. J. Numa, SAN with Theophilus Okwute for the 2nd Respondent.

Mohammed Sani Katu, SAN; Oladipo Tolani, SAN; Oluwole Aladedoye, SAN with Kabir Momoh and Aliyu Alhassan for the 3rd Respondent.

Honourable Tijjani Abubakar, JSC

serious matters

Reflections on the 2024 National Justice Summit

Not Another ‘Talk Shop’

Summits, Conferences, Workshops and similar gatherings have been given a bad name in Nigeria. They are often called ‘talk- shops’, where all that happens are endless bouts of debates with limited possibility of tangible outcomes. It would appear not so, with the National Justice Summit that held last week in Abuja. Not a few of us observed that the Honourable Attorney- General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN (HAGF), did not disappear after the opening ceremony to attend to “urgent State functions”.

The National Justice Policy

The National Justice Summit was convened by the HAGF, essentially to present and seek the adoption of the National Justice Policy by Government and non-Government Justice Sector stakeholders. I have, in my previous columns, stated that Justice sector reform stands a better chance of success, when the Government has a clearly stated policy setting out the official vision of the reform objectives, and committing Government to specific reforms necessary to realise that vision. This is an important reference point, for any strategic approach to Justice sector development. We are making progress.

The National Justice Policy identifies key priorities including: Strengthening the independence, responsibility, efficiency and transparency of the justice system; Improving the pre-judicial investigation process to ensure a guaranteed observance of human rights, security for every person and decrease in levels of criminality; Promoting and implementing the zero-tolerance principle with respect to corruption within the justice system; Improving the justice system to contribute to the creation of a climate that is favourable for economic growth and job creation, and securing effective observance of human rights by the application of legal practices and policies. I note with appreciation, the consultative and inclusive process that resulted in the Policy. Implicit in the Policy is the recognition that it must be accompanied by detailed plans for reform, setting clear benchmarks, and framed as a process rather than a single event.

Between Judicial Independence and Public Accountability

Quite aside from deliberations on the adoption of the Justice Policy, much of the deliberations at the Summit focused on judicial reform, with the state of the Nigerian Judiciary in view. There was a consensus that an extremely complex, diverse, Federal polity like Nigeria which is struggling to reconcile short-term expediency with long-term imperatives of nation-building, needs a credible, independent and impartial Judiciary. The Summit, for the most part, focused on finding the right balance between judicial independence on one hand, and public accountability on the other.

Discussions on the Judiciary, often focus on the substance of court decisions - which side wins and which side loses. This focus has obscured deeper structural factors at play in the nation’s Judiciary, including its glaring inadequacies. These inadequacies are endangering the credibility of the Judiciary, and have in no small measure contributed to its poor public perception. Public trust and confidence in the Judiciary is enhanced when Judges are professional, ethical, competent, impartial, efficient and effective. Nigerians desire a judicial system

that is accessible, efficient, modern, and one that produces fair and reasonably predictable outcomes.

Issues in Judicial Reform

Protecting the credibility of the judiciary is a matter of great national importance. If the general public loses confidence in the integrity and impartiality of the judiciary, there is every danger that the nation will fall apart. Therefore, protecting the image of the courts, enhancing the quality of Judges, deliberately investing in their welfare, and ensuring their impeccable conduct, are matters of public importance.

The Nigerian Bar Association (NBA) in its advocacy briefing note to the Summit, identified six central issues that are crucial to any discussion on judicial reform. These are:

(1) How to create an administrative/ legislative framework that ensures that only persons of exceptional intellectual and legal ability, with sound judgement and significant legal experience from the Bench and Bar are appointed as Judges or elevated/appointed as Justices of higher courts. (2) How to reform judicial institutional mechanism, to effectively address allegations of wrong doing against Judges, so that judicial credibility is protected. (3) How to protect judicial independence by ensuring appropriate funding for the Judiciary, including regular periodic upward review of judicial salaries, allowances and pensions. (4) How to respond to the issue of the backlog of pending matters in all tiers of our courts, particularly, in the Supreme Court. (5) How to recognise the importance of lower courts in the justice delivery chain, particularly at the level of the Magistracy and such other courts of coordinate jurisdiction. (6) How to recognise and deliberately acknowledge the important role of judicial staff (nonjudicial officers) in judicial administration, including how to achieve efficiency and job satisfaction within their ranks.

The issues of Judicial appointments, Judicial discipline and backlogs of pending matters, were of much interest to participants.

“It may now be necessary for the Convener of the Summit, the HAGF to facilitate a meeting, Chaired by President Tinubu, with the leadership of the National Assembly and the 36 State Governors in attendance, with a view to presenting the outcome of the Summit for necessary action”

Unmeritorious Judicial Appointments

On judicial appointments, participants identified two areas for consideration. First, is the constitution of the judicial appointing bodies (National Judicial Council (NJC), Federal Judicial Service Commission (FJSC), State Judicial Service Commissions (SJSC). It was observed that the process for appointing members of judicial appointing bodies is unstructured, and the criteria for making appointments are not defined. This lack of transparency, sometimes leads to appointment of persons with limited capability. There was a consensus that nominees for membership of Federal and State judicial appointing authorities should be selected solely on merit, through a clear and accountable process involving fair and open competition and from a pool comprising a wide range of eligible diverse candidates. On the process for appointment of judicial officers, participants observed that there has been an increase in the number of anecdotal reports of unmeritorious appointments. That there is growing evidence that the power of making judicial appointments, is coming to be regarded by the executive arm as a form of patronage and a source of influence that can be used to serve short-term political interests. It was recommended that the procedure for appointing Judges must be reformed, according to the principles of equal opportunity and fairness. The process must not be, and must not be seen to be heavily dependent on the Executive Arm of Government. It must be transparent. It must be accountable. And, it must inspire public confidence. There should be competitive and fair appointment of all Judicial officers.

NJC Composition: A Stumbling Block

On judicial discipline, it was noted that the current composition of the NJC, including its disciplinary mechanism, are important stumbling blocks towards achieving effective prosecution of judicial misconduct. It is less than ideal that the membership of a body established to exercise disciplinary control over judicial officers, should be dominated by serving and retired judicial officers. Consideration should be given to the appointment of more lay men into the Council. The Supreme Court Judgement in Hon. Justice R. Elelu Habeeb & Anor v Attorney-General of the Federation & 2 Ors (2012) 49 3 NSCQR 1528 where it was held that the NJC must be involved in any disciplinary process against a judicial officer, affirms the need to pay

particular attention to the composition of the NJC.

Dealing with Backlogs

Much of the discussions on backlog of pending matters in all tiers of our courts, particularly, in the Supreme Court focused on the need to review the Supreme Court Rules, as an immediate step to decongest the case-load of that court. The Court of Appeal and the Federal High Court, have undertaken a similar exercise. Specifically, only matters of significant constitutional importance or contribution to the legal jurisprudence should be heard in the Supreme Court. Generally, it was also suggested that consideration be given to the greater use of technology, in the administration of justice. There was some debate about whether there was a need for constitutional review, to make provision for virtual court proceedings. I was interested in finding out whether the position of the Supreme court on virtual court proceedings had evolved over time, and if one could envisage a time when the Supreme Court will provide leadership in this area.

What Next?

As it must have been obvious to all at the end of the Summit, reforms in the Justice sector will not be an event, even with the most genuine political will. It must be properly planned, carefully managed, and the process must be consultative and inclusive of all Federal and the States’ justice institutions. This should be undertaken by adopting a holistic, system-wide approach that lays emphasis on greater integration and coordination of the roles, functions and activities of the institutions of the justice system. Indeed, the multiple and many times, overlapping institutions, at the Federal and State levels, the need for consensus on the importance of the justice sector and the necessity of shared appreciation and joint -action in responding to emerging crime and security concerns, require strong leadership and commitment from the President and State Governors. It may now be necessary for the Convener of the Summit, the HAGF to facilitate a meeting, Chaired by President Tinubu, with the leadership of the National Assembly and the 36 State Governors in attendance, with a view to presenting the outcome of the Summit for necessary action.

We have said all that needs to be said, about the state of our judicial sector. The success of the Justice Summit will be determined not only by its quality participation and brilliant presentations, but, by tangible outcomes that respond to the yearnings of Nigerians for a justice system that works in their interest.

HE President Bola Ahmed Tinubu, GCFR

Olawale Fap O hunda, San

SMS Only

National Summit on Justice 2024: Addressing Justice Sector Issues Frontally

Justice delivery in Nigeria, has been a topic of discussion of successive administrations for the past few decades. achieving that ideal justice delivery system, has, so far, appeared to be a mirage, and a seemingly unattainable utopia; but, hope is here now, as the President Bola Tinubu administration has taken bold and deliberate steps to strengthen justice institutions and up-scale the welfare of judicial officers with a well deserved increase in remuneration and allowances just waiting for the legislative nod, after over 15 years of stagnation. In further demonstration of the administration’s commitment to this, the office of the Attorney-General of the Federation and Minister of Justice, Federal Ministry of Justice in collaboration with the Nigerian Bar Association (NBA) on april 24th - 25th, 2024, organised a two-day Summit which held in the auditorium of the National Judicial Institute (NJI), abuja, to holistically examine the challenging issues mitigating against justice delivery and how to surmount them.

Onikepo Braithwaite, Jude Igbanoi and Alex Enumah who attended the Summit report

In Search of a Functional Justice System

Nigerians, last week, began the process of putting machineries in place that will enthrone a viable and functional justice system that will rapidly grow the economy, guarantee basic human and political rights of individuals, as well as provide security and justice for all Nigerians.

For two days, the crème-de-la-crème of the nation's justice sector, especially from the Bar and Bench, alongside other critical stakeholders brainstormed on how to make the sector not only more proficient, but satisfy the aspirations of the citizens as well as foreign nationals desirous of doing business in Nigeria.

The gathering which was under the auspices of the Federal Ministry of Justice in collaboration with development partners; including the European Union funded RoLAC II Programme of the International IDEA, was tagged the 2024 National Justice Summit with the theme: “Repositioning the Justice Sector in Nigeria: Constitutional, Statutory, and Operational Reforms for Access and Efficiency”.

Justice is the bedrock of any viable society or government. Without justice, there can be no peace and without peace, there can be no development.

The vision of Nigeria's founding fathers as reflected in the National Anthem is, "to build a nation where peace and justice shall reign". Unfortunately, several decades after, peace and justice still elude the country.

Plenary Session

The Summit began with a Plenary Session, in which key players in the Justice Sector made their remarks.

Attorney-General of the Federation

The Attorney-General of the Federation and Minister of Justice (AGF), Prince Lateef Fagbemi, SAN, who set the tone of the discussion had disclosed that his focus, is to fashion out "a clear strategy that will reposition and strengthen the justice sector for greater access, transparency, accountability, fairness, and efficiency in the entrenchment of the rule of law in Nigeria and administration of justice in general". This vision or ambition can best be understood, with the current economic hardship occasioned by corruption and violent crimes such as kidnapping and banditry. Simply put, Nigeria is fast becoming a lawless State with the strong, wealthy and powerful becoming a government of their own. People no longer go to court because they feel they can't get

“While identifying funding as another huge challenge, CJN Ariwoola charged the Summit to explore innovative ways through which the systemic challenges of funding the entire justice sector, in a sustainable manner, at all levels of governance, horizontally and vertically, can be addressed”

justice, or the Judges are too corrupt to do what is right.

The AGF said the Justice Sector under his watch, will continue to push for mutuality in the formation and implementation of the National Policy on Justice. The Policy, according to him, seeks to improve mechanisms for fair and speedy dispensation of justice; detention and correctional services; restorative justice; alternative dispute resolution (ADR) - developing Nigeria into an arbitration hub on the continent; commerce and economic activities; compliance with treaty obligations; synergy and cooperation across the Justice Sector; and independence of the Judiciary, among others.

The AGF said: "Regarding the emphasis on strengthening the independence and welfare of the Judiciary, it is to be recalled that one of the cardinal items on the Renewed Hope Agenda of this administration, is to drive judicial reforms to achieve sustainable socio-economic growth and investment, facilitated by the rule of law, and to address the challenges militating against judicial development in our country.

"One key theme that has been added to the National Policy on Justice, is Justice for Children. This is in line with our commitments under various international, regional and national instruments on the protection of children, consistent with the guiding principles on the best interest and welfare of the child. The idea is to adopt deliberate and strategic interventions, for dealing with children in contact with the law", he added.

President of the Nigerian Bar Association

The President of the NBA, Yakubu Maikyau, OON, SAN, in his remarks, emphasised the importance of collaboration between the three arms of Government, for national progress. He acknowledged the challenges faced by the justice system, but urged against negativity, highlighting existing advancements like the formal appointment process for Judges. He positioned the Judiciary as the cornerstone of the

nation, essential for national unity, and commended the Judges for their role in maintaining stability.

Chief Justice of Nigeria

Like the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, remarked, "Access to justice remains a distant reality for far too many Nigerians, with barriers ranging from procedural complexities to socio-economic disparities". The CJN pointed out that if all this must change, critical stakeholders have to address systemic issues that undermine the integrity of the justice system, including corruption, inefficiency, and undue influence. "Upholding the independence and impartiality of the judiciary is paramount, as it is the cornerstone of a functioning democracy and the guarantor of the rule of law".

While identifying funding as another huge challenge, CJN Ariwoola charged the Summit to explore innovative ways through which the systemic challenges of funding the entire justice sector, in a sustainable manner, at all levels of governance, horizontally and vertically, can be addressed.

Chief of Defence Staff

The Chief of Defence Staff emphasised the importance of access to justice, for achieving lasting peace and security. He called for a collaborative framework within the Summit to reform the public sector, particularly law enforcement agencies. That this reform should prioritise both national security and human rights. By effectively apprehending criminals, LEAs can rebuild public confidence in the justice system.

Keynote Address: Dr Willy Mutunga

The Keynote Speaker was a former Chief Justice of Kenya, Dr Willy Mutunga, EGH. He delivered his speech virtually, speaking about the sweeping reforms that were carried out in the Kenyan Judiciary under his watch from 2010. Dr Mutunga emphasised the overall importance of safeguarding the Judiciary from political influence, for a fair and impartial justice system. While presenting Kenya's reform journey as a potential model for Nigeria, he

chief Justice of Nigeria, Hon. Justice Olukayode Ariwoola

Attorney-General of the Federation, Prince Lateef Fagbemi, SAN chairman, Nigeria Governors' Forum, Kwara State Governor, HE AbdulRahaman AbdulRazaq

HE President Bola Ahmed Tinubu, GcFR

National Summit on Justice 2024: Addressing Justice Sector Issues Frontally

highlighted key areas for improvement, including revamping legal education to prioritise public interest litigation, and ensuring broader access to justice for all Nigerians. He also suggested a comprehensive review of Nigeria's Constitution after 25 years of democracy, to strengthen its democratic foundations and, that beyond national borders, called for panAfrican collaboration in the legal sphere by proposing the establishment of a central institute dedicated to legal scholarship and collaboration across the continent, to foster a unified legal framework for African courts, ultimately strengthening the legal systems of all member states.

Senate President Senate President, Godswill Akpabio, who pledged support towards the passage of proposals/ recommendations from the Summit into law, listed areas for urgent reform in the justice system. "I will not be telling the truth, if I say that we at the National Assembly are not aware of the delays and backlogs plaguing our courts which not only deny timely justice, but undermine faith in our judicial system". Akpabio observed that these delays harm society's most vulnerable, and create an environment where justice is seen as inaccessible and inefficient.

Besides, the Senate President also urged for reform in the area of interlocutory appeals in civil cases, because the appeals often cause unnecessary delays, prolonging litigation and burdening the courts. "As was done in the criminal jurisprudence during the enactment of Administration of Criminal Justice Act 2015, we propose that all appeals in civil cases should be taken only after the conclusion of the substantive case. This change will accelerate judicial processes, reduce backlog, and ensure that litigations are not unduly prolonged by intermediate appeals", he said.

“Another area requiring urgent reform is the need for obtaining the Attorney-General’s consent before executing judgments. This requirement often acts as a bottleneck, delaying justice and undermining the autonomy of our judicial system. We propose modifying this requirement to facilitate swifter execution of judgements, thereby enhancing the efficiency and effectiveness of our justice system.

“We are not ignorant of the rationale for securing the Attorney-General’s consent as stipulated in sections of Sheriff and Civil Processes Act, which is to avoid the embarrassment of not knowing that funds earmarked for specific purposes have been diverted for the satisfaction of judgement debts, which the Government may not know anything about.

“It is our view that, to enhance efficiency while maintaining necessary checks, we propose replacing the requirement for the Attorney-General’s consent with a mandatory notification system.”

Akpabio said, "Upon receiving a judgement against the Government, the relevant authorities will notify the Attorney-General immediately in writing. Following the notification, the AttorneyGeneral will have a specified period, say 30 days, to respond. The response could involve initiating an appeal or settling the matter directly. This timeline ensures prompt action, and prevents undue delays in justice delivery.

"If there is no response from the Attorney-General within this period, the judgement will be executed automatically. This measure is crucial to prevent stalling, and ensure that judgements are respected and enforced in a timely manner. In cases where the judgement comes from a final court, the option to appeal is not available. Therefore, the AttorneyGeneral’s response would be primarily directed towards settlement. This approach ensures that the Government acts responsibly as a litigant, and respects the decisions of our highest court in the land. Reforms like this foster trust in the justice system, and improve the overall efficiency of legal proceedings involving the Government".

One other area the Senate President urged the Summit to beam its searchlight on, is "the misuse of ex-parte orders in political cases, by our Judges". As part of measures at curbing the menace, Akpabio called on the National Judicial Council (NJC) to exercise stringent oversight, and take prompt and decisive punitive actions against Judges who are found to abuse their authority in this manner.

The Senate President’s recommendation was that the NJC should conduct regular audits and reviews of ex-parte orders issued by Judges, to ensure compliance with established standards. According to him, this proactive approach would help in identifying patterns of abuse early, and in administering corrective measures promptly.

In addition to punitive measures, Akpabio

also emphasised the importance of ongoing training and education for Judges, on ethical and responsible use of judicial discretion in issuing ex-parte orders.

The Senate President also highlighted the need to harness technology for case management, and emphasised the importance of collaboration between the National Assembly, the Ministry of Justice, the Judiciary, and the NBA, as they all play a crucial role in implementing these reforms and ensuring a just and efficient legal system for all Nigerians.

He advised that the outcome of the Summit be translated into effective policies that would address, not only current inefficiencies, but also future challenges.

President Bola Tinubu

On his part, President Bola Tinubu, GCFR tasked participants to identify needed system changes and critical reforms that would allow Nigerians to reap the benefits of huge investments in the justice sector. He expressed the determination of his administration to implement its policies and promises made to Nigerians for a renewed hope, through the instrumentality of the "law and the dictates of justice to create opportunities for our people".

President Tinubu who was represented by the Vice President, Senator Kashim Shettima, unveiled the preliminary measures he took in order to reposition the Judiciary, as well as support a just and rules-based Nigeria. According to him, immediately he assumed office, his administration made funding for the third arm of government a top priority, doubling it in the Renewed Hope budget 2024 by more that 100% from last year's budget. He also cited the appointment of 11 Justices into the Bench of the Apex Court to ensure that the Court, for the first time, attained its full complement of 21 Justices as required by law, in addition to approving "a substantial increase in the salaries and emoluments of Judges, which is currently undergoing legislative action".

President Tinubu noted however, that despite the progress that is being made in the Justice Sector, there "is an urgent need for a functional justice system capable of supporting a rapidly growing economy, guaranteeing basic human and political rights of individuals, and providing security and justice to all". To that extent, he challenged, Justice Sector leaders and professionals to find the right responses to the challenges facing the country through policy innovation, citizen-centred reform, systems change, and legislative reform, where necessary. "I, accordingly, urge the leadership of all

“President Tinubu noted however, that despite the progress that is being made in the Justice Sector, there "is an urgent need for a functional justice system capable of supporting a rapidly growing economy, guaranteeing basic human and political rights of individuals, and providing security and justice to all"

Justice Sector institutions to seek a new direction and focus on outcomes by creating a justice system that truly responds to the needs of our citizens - one that serves Nigerians now and for generations to come.

"I demand informed and coordinated responses, to the identified challenges plaguing the effectiveness and efficiency of the sector. I demand performance, so that Nigerians can feel and acknowledge the impact of your reform efforts. Ultimately, the expectations are that law and justice should aim to ensure public safety, economic development, peaceful co-existence, and the well-being of our people", he added.

Panel Breakout Sessions

At the technical session on judicial appointments and selection, Panelists raised concern about the CJN doubling as Chairman of both the Federal Judicial Service Commission (FJSC) and the National Judicial Council (NJC). For example, the Panel on "Assessing the Performance of the NJC in Discharging Its Responsibility for Judicial Appointments into the Superior Courts of Record", was moderated by Mrs Funke Adekoya, SAN; while Panelists were President of the National Industrial Court of Nigeria, Hon. Justice Benedict Kanyip; Dr Oliver Stolpe of the UNODC; Professor Ameze Guobadia and Dr Muiz Banire, SAN, called for a significant review of the role of the NJC in discharging his responsibility for judicial appointments into the Superior Courts of Record.

They expressed concern about the fact that the CJN who is the Chairman of the NJC is also the Chairman of the FJSC, which is the body that initially reviews proposals or lists of candidates by appointment into judicial office. According to them, such a situation suggests that the CJN "was then recommending candidates to himself being Chairman of both bodies, and being the person who appoints a significant number of the members of both bodies, other than those who are statutory members".

Meanwhile, the Panel approved in modified form, the proposals for reform made by the Nigerian Bar Association (NBA). According to them, there was a need to reconstitute or propose the reconstitution of these bodies, both the National Judicial Council and the Federal Judicial Service Commission.

The second Panel was on “Examining the Structure and Role of the State Judicial Service Commissions in Judicial Appointments”. Dr Uju Agomoh moderated, while Panelists were Olawale Fapohunda, SAN; Dr Musa Aliyu, SAN; Prof Oyelowo Oyewo, SAN and Hon. Justice Omolaye-Ajileye (Rtd), who emphasised the need to ensure that the preparation/collation of the shortlist of candidates for judicial appointments at the State Judicial Service Commissions is done by the SJSC acting as a body, and not just by the CJ in the capacity of Chairman. He noted that, that is where a lot of the manipulation happens in the judicial appointment process, as many deserving candidates are excluded from the process at this point, without any further recourse.

Another Panel which dealt with the topic, “Philosophical Underpinnings of the Judicial Appointments Process: Structural and Constitutional Dimensions and the Proposals

for Constitutional and Legislative Reform”, stressed the fact that focus should be on increased transparency in the appointment process. In addition, the Panel also called for focus on meritocracy and on meaningful performance evaluations of those who seek judicial office. Recommendations were made for the consideration of the model that is currently being used in Kenya. In addition, they made a case for the codification of the judicial appointments process, such that the discretion that is currently witnessed in the appointments process is reduced to the barest minimum. Professor Dakas C.J. Dakas, SAN moderated this Panel, and the Panelists were former President of the NBA, Dr Olisa Agbakoba, SAN; Prof Yusuf Ali, SAN; Mr Joseph Otteh, who is the Convener of the Access for Justice and Dr Jan van zyl Smit, the Acting Director of the Bingham Centre for the Rule of Law in London, England, who travelled from London to participate in this session.

There were four other Panel sessions on the second day of the Conference. The first was on the funding of the Judiciary. It was moderated by Dr Babatunde Ajibade, SAN, and the Panelists were Past President of the Court of Appeal, Justice Ayo Salami, PCA (Rtd), Justice Oludotun AdefopeOkojie, JCA (Rtd) and Robert Emukpoeruo, SAN. The importance of the implementation of Section 121 of the Constitution was underscored, as not only being a necessity for the independence of the Judiciary, but for State Judiciaries to be able to fund their capital projects.

Communiqué

Meanwhile, priority areas at the Summit include; the judicial appointment process; funding, and eradication of delay in justice delivery. According to a Communiqué issued at the end of the Summit, the priority areas formed the thematic areas dealt with during the technical sessions.

On the process of appointing judges, Chairman of the Joint Planning Committee of the Summit, Dr Babatunde Ajibade, SAN, while presenting the Communiqué in Abuja, observed that, "if we don't get the judicial appointments process right, it is difficult to build anything significant on top of that". Similarly, he noted that if we don't get funding and administration and budgeting for the courts right, it would be difficult to get the courts to function effectively.

"So, that was the second priority area. And, the third priority area is eradicating, to the greatest extent possible, delays in the administration of justice. Again, this is a connected point. If you don't get the right quality of judicial officers, if they are not properly funded, if there are not sufficient number of them, if the administration of the courts is not proper, there's no way you can get efficient and quick justice delivery, which the Constitution promises.

"So, those were the three priority areas focused on in the technical sessions. Of course, the National Policy on Justice covers a much broader range of issues. But, we focused on those three priority areas for now", he said.

Conclusion

Leaders of the three arms of government at the opening of the two-day event expressed concern about the current state of the Justice Sector, as well as their determination to effect a positive change through meaningful reforms. Only time, however, will tell how much action each puts into realising this lofty objectives.

L-r: Brig-Gen Buba Marwa (rtd); Gen christopher Musa; Senator Saliu Mustapha; Yakubu Maikyau, SAN; Governor Abdulrazaq; Senator Barau Jibrin; Senator Godswill Akpabio; VP Senator Kashim Shettima and cJN olukayode Ariwoola

Hon. Justices Helen moronkeji Ogunwumiju, JsC (left) and Uwani abba aji, JsC

Chairman of the Body of Benchers, asiwaju adegboyega awomolo, saN (left) and the President of the Court of appeal, Hon. Justice monica Dongban-mensem

L-R: CJN ariwoola; Hon. Justice Kudirat Kekere-ekun, JsC and governor abdulRazaq

attorney-general of the Federation and minister of Justice, Prince Lateef Olasunkanmi Fagbemi, saN (left) and the Chief Justice of Nigeria, Hon. Justice Olukayode ariwoola, gCON

L-R: attorney-general of Ondo state, Dr Kayode ajulo, saN and former attorneysgeneral of the Federation, adetokunbo Kayode, saN; mohammed Bello adoke, saN and Chief Bayo Ojo, saN

Hon. Justices Obande Festus Ogbuinya, JsC (left) and moore adumein, JsC Pre

President of the NBa, Yakubu maikyau, saN (left) and Chairman, Nigeria governors’ Forum, Kwara state governor, He abdulRahaman abdulRazaq

Chairman, NDLea, Rtd Brigadier-general Buba marwa (left) and Chief of Defence staff, general Christopher musa eFCC Chairman, mr Ola Olukoyede (left) and senator saliu mustapha

L-R: Deputy senate President, senator Barau Jibrin; senate President, senator godswill akpabio and Vice President, Federal Republic of Nigeria, He senator Kashim shettima

Prof muhammad Tabiu, saN (left) and Hon. Justice John Inyang Okoro, JsC

L-R: Hon. Justices Haruna Tsammani, JsC, Chioma Nwosu-Iheme, JsC and Chidiebere Uwa, JsC

Former President of the Court of appeal, Hon. Justice Isa ayo salami (Rtd)

Former CJ, FCT High Court, Hon. Justice Ishaq Bello (Rtd)

Prince Lateef Fagbemi, saN and editor of ThisDay Lawyer, Onikepo Braithwaite

mrs Victoria awomolo, saN and Deacon Dele adesina, saN

Former NBa President, augustine alegeh, saN

Ogun state Chief Judge, Hon. Justice mosunmola Dipeolu (left) and mrs Boma alabi, saN

L-R: Former NBa general secretaries, Ibrahim mark and Deacon Dele adesina, saN, and former NBa President, Paul Usoro, saN

Chief of Defence staff, general Christopher musa, Prince Lateef Fagbemi, saN and Immediate Past NBa general secretary, Joyce Oduah

Dr Roland Otaru, saN

Dr muiz Banire, saN (left) and Prof Taiwo Osipitan, saN

Babatunde Ogala, saN

Dr Babatunde ajibade, saN (left) and Yusuf ali, saN

Prince Lateef Fagbemi, saN and Olawale Fapohunda, saN

FROM THE BACK OFFICE

Joy Harrison-abiola harrisonabiolajoy@gmail.com

The Transformative Power of Mentorship

Mentorship is the time-honoured practice of passing down knowledge, skill and wisdom that comes with experience on a one-to-one basis.

Mentorship plays a crucial role as a powerful enabler, in business as in life. By intentionally investing in mentorship, established businesses can assist budding talents to navigate the complexities of the business world, and to succeed. Mentorship can serve as a catalyst for individual and organisational growth, driving innovation, fostering talent development, and building a culture of continuous learning and improvement. By investing in mentorship programmes, businesses can unlock the full potential of their people, drive performance, and maintain a competitive edge. There are times when we all need a guiding hand, a wise voice, or perhaps, just someone to share a knowing glance with. The aim of mentorship is to provide guidance, support, and wisdom to help the mentee grow personally and professionally.

Many years ago, one of my mentors, John, said to me in his usual quiet way, “Joy, service firms have a highly politicised internal culture, most service firms’ culture are intolerant of mistakes. For instance, Lawyers are trained to nitpick, discover slipups and detect faults. To succeed in business services, you have to always be a step ahead and above”.

John was an elderly American gentleman, a highly experienced business services professional. We were in Chicago, Illinois, US attending the Association of Legal Administrators Annual International Conference together, and we were in a break-out mentoring session. John spoke for a while. I learnt more from this in-between session with John, than from the intellectually charged conference sessions. Though, I must admit, I did not quite understand fully all that John was saying at the time, but, with the passage of time, I did. Certainly not all service firms are the same, but there are a few characteristics prevalent in the service industry and in business generally. John’s advice prepared me for what was ahead. That advice became a compass, helping me through the trajectory of the latter part of my career.

Mentorship is a partnership built on trust, mutual respect, and a shared commitment to learning and development. Mentorship is a dynamic relationship between an experienced, knowledgeable individual and a seeming not so knowledgeable and experienced individual. John provided a safe space for me to be vulnerable. John was much older and senior in the profession, but he did not make me feel less, he treated me as an equal. I felt no intimidation. He was gracious. John listened to me, and was balanced in his judgement. He told me how that the choice of our career, was one that will require a lot of sacrifice. John shared. He shared his life, fears and mistakes. He told me about family, and how to ensure we do not lose family in our quest to climb a professional ladder. We have since lost touch, but I still remember John often and I am grateful to him. In a world brimming with potential mentors and eager mentees, mentorship may not always be without pitfalls. So, how do you find your good match? How do we navigate the cosmic corridors of mentorship to avoid mismatch and mishap?

Mentorship: A Labyrinth of Possibilities, With Promise and Uncertainty

There is a prevailing notion that mentors are infallible fountain of wisdom, guiding their mentees with unerring precision and advice. However, the reality can be a bit different. Take the case in the fashion-forward comedy-drama, “The Devil Wears Prada" (2006), the aspiring journalist, Andy Sachs lands a job as the assistant to Miranda Priestly, the daunting editor-in-chief of a prestigious fashion magazine. Andy Sach’s experience with Miranda Priestly was quite the opposite of my mentorship experience with John. Incidentally the outcomes were similar. Despite their rocky start, Andy learns valuable lessons about professionalism, ambition, the scoops of the industry, misplaced priorities and self-confidence under Miranda's tough mentorship. Through their tumultuous relationship, Andy discovered what really matters to her and the importance of staying true to herself while navigating the ruthless world of high fashion.

From the example of Andy Sach, understand that behind the veneer of professionalism and expertise, there can be mentorship mismatch resulting in moments of misunderstanding, awkward silence, well-intentioned blunders, and unforgettable faux pas that leave both mentors and mentees scratching their heads in bewilderment. Embarking on the mentorship journey, can feel like stepping into the unknown. It is however, positively transformative.

As we seek for mentors who can help us navigate the twists and turns of our chosen path, note the following to avoid a mismatch:

Know Thyself

Before diving headfirst into the mentorship matchmaking game, it is essential to embark on a quest of self-discovery. What are your goals, aspirations, and areas for growth? Are you seeking guidance in your career, personal development, or perhaps, just to understand the business terrain in which you operate? By understanding yourself, you will be better equipped to find a mentor whose wisdom aligns with your journey.

Be Authentic

The mentorship journey is for connection, guidance, and growth—a journey that brings people together in a shared quest for wisdom and enlightenment. So, let your true personality shine, and the right connections will follow. Be authentic. Genuineness beats rehearsed charm every time— Imagine you are at a dreaded networking event— aahh the social crucibles where introverts cringe and extroverts thrive. Picture the mentee, eager to make a favourable impression on an intended mentor at a high-stakes networking gathering. Armed with rehearsed small talk and a winning smile, you approach the target with confidence - only to be greeted with a bewildered expression and a polite but hurried exit. Lesson learned. Relax and be yourself. Whether you are seeking a mentor or ready to become a mentor yourself, remember that you are enough, so be authentic.

Network Broadly

To avoid a mismatch, network broadly. Networking is a powerful tool for connecting with potential mentors, and expanding your mentorship horizons. In your mentorship matchmaking quest, you will encounter individuals whose wisdom and guidance resonate

“Effective mentors recognise and celebrate the uniqueness of their mentees, understanding and embracing that diversity enriches the mentoring experience. Look for mentors who possess the knowledge, experience, and empathy to guide you on your journey. Attend industry events, join professional organisations, and do not be afraid to reach out to individuals whose wisdom you admire”

with you on a profound level, each with their own strengths, weaknesses, and backgrounds; they may come from different walks of life, but, focus on the common purpose. Effective mentors recognise and celebrate the uniqueness of their mentees, understanding and embracing that diversity enriches the mentoring experience. Look for mentors who possess the knowledge, experience, and empathy to guide you on your journey. Attend industry events, join professional organisations, and do not be afraid to reach out to individuals whose wisdom you admire. Be bold and ask; you never know where your next mentorship opportunity may arise.

Mentorship Benefits

Accelerated Learning. Experienced mentors are deemed to possess a wealth of knowledge, gained through years of practical experience in their respective fields. By sharing their insights, best practices, and lessons learned, mentors can accelerate the learning curve for mentees, helping them avoid common pitfalls and make informed decisions.

Apprenticeship. Mentors are supposed to provide a structured framework for mentees to develop the skills, competencies, and confidence needed to succeed. Whether by honing technical skills, refining leadership abilities, or navigating organisational politics, mentors serve as trusted guides, offering constructive feedback and personalised advice to support the mentee's growth. Career Advancement. Mentors may often have extensive networks within their industries or organisations, which can open doors for mentees in terms of career advancement, job opportunities,

and professional connections. Through their mentorship relationships, mentees gain access to valuable networking opportunities, and introductions that can significantly impact their career trajectories.

Personal Support. Beyond professional development, mentorship also provides mentees with personal support and encouragement. Mentors serve as sounding boards, offering empathetic listening, balanced perspective, and reassurance during challenging times. This emotional support can be invaluable for mentees navigating the complexities of the business world, and striving to achieve their goals.

Engagement and Retention. Effective mentorship programs in any organisation, cannot be over- emphasised. It helps with engagement and retention by fostering a sense of belonging, purpose, and investment in the organisation. When employees feel supported and valued through mentorship relationships, they are more likely to stay with the company long-term, contribute meaningfully to its success, and become advocates for the organisation’s culture and values.

Succession Planning. Mentorship plays a critical role in succession planning by grooming future leaders and preparing them to take on leadership roles within the organisation. Through mentorship relationships, highpotential employees can develop the skills, knowledge, and strategic thinking required to step into key positions and drive the organisation forward.

Conclusion

The mentorship set-up is about finding the right mentor, and being the right mentee. It is a partnership that benefits both mentor and mentee alike. Never underestimate the transformative power of a strong mentorship alliance built on trust, respect, and mutual hunger for growth. Be aware that, you can never outgrow mentorship.

ALP NG & Co and Africa Legal Associates (ALA) Ghana Forge Strategic Alliance

ALP NG & Co, in solidifying their partnerships across Africa, have formed an alliance with Ghanabased full-service Pan-African firm renowned for its expertise across various sectors, widening the ALP International practice group of firms across Africa.

Founded in 2015 by Nana Adjoa Hackman and Gabby Otchere-Darko, ALA has garnered a reputation for its multidisciplinary professional services, which mirrors the profile of ALP NG & Co.

Both ALP NG & Co and ALA hold membership in the Commonwealth Enterprise and Investment Council (CWEIC), with Senior Partner, Gabby Otchere-Darko serving as the Country Chair CWEIC Ghana and Olasupo Shasore, SAN, Senior Partner at ALP NG & Co, serving as the Country Chair CWEIC Nigeria.

Alongside ALP Advocates Uganda and ALP East Africa (Uganda, Kenya, South Sudan, and Tanzania), the ALP International Practice Group will leverage their collective strengths to provide comprehensive services and resources across West

and East Africa. This alliance intends to foster a robust legal and professional solutions footprint across the continent, and to champion the objectives of the Africa Continental Free Trade Area Agreement (AfCFTA).

L-R: Senior Partner, ALP NG & Co, Olasupo Shasore, SAN; Managing Partner, ALA, Nana Adjoa Hackman; Senior Partner & Co-founder ALA, Gabby Asare Otchere-Darko; Managing Partner, ALP NG & Co, Atinuke Odofin; Partner, ALP NG & Co), Uyi Giwa-Osagie and Partner,

L-R: Former Director, Ministry of Education, Lagos State, Mrs. Lola Agunbiade; Chief Corporate Communications Officer, Nigerian National Petroleum Corporation Limited (NNPCL), Mr. Olufemi Soneye; publisher’s wife, Mrs. Olanike Ekundayo; Energy Times’ Publisher, Mr. Kayode Ekundayo; Chairman, International Energy Services, Dr. Diran Fawibe; and TCN’s General Manager, Lagos Region, Mr. Mojeed Akintola, during maiden Energy Times Award in Lagos… recently

L-R: Executive Assistant to the Managing Director, CDK Integrated Industries, Okiemute Foyibo; Sales and Marketing Manager, CDK Integrated Industries, B.S Rao; National President, Nigerian Institute of Architects, Mobolaji Adeniyi; Brands and Marketing Manager, CDK Integrated Industries, Abimbola Onagbade; Chairman, Nigerian Institute of Architects, Oyo State chapter, Olufemi Oyenekan; and Business Development Manager, CDK Integrated Industries, Edmund Okwuasaba, during the visit of the CDK integrated industries team to the office of the national president of NIA, in Ibadan, Oyo State...recently

L-R: Regional Marketing Representative from the United States Agency for Global Media, Mohammed Abba; US Consulate Public Affairs Officer in Nigeria, Julie McKay; Managing Director, News Central TV, Kayode Akintemi, and US Country Strategic Communications Specialist, Temitayo Famutimi, during the US Consulate diplomatic visit to News Central TV in Lagos…recently

L-R: First Vice President, Chartered Institute of Directors, Nigeria, Adetunji Oyebanji; President/Chairman, Governing Council, Chartered Institute of Directors, Nigeria, Alhaji Tijani M. Borodo; Managing Director/CEO of FBNQuest Trustees Limited, Adekunle Awojobi; and Second Vice President, F.CIoD, Amina Oyagbola, during the recent induction ceremony of the new members of the Chartered Institute of Directors in Lagos...recently

L-R: Former President of Botswana, His Excellency Lt. Gen. Seretse Khama Ian Khama; Chairman of Heritage Times (HT), Moses Siloko Siasia; and former President of Ghana, His Excellency John Dramani Mahama, at the Second African Heritage Awards in Lagos...recently

L-R: Pastor, Christ Miracle Mission Centre (CMCM), Kings Assembly, Ontario, Canada, Mrs. Folashade Adebisi; twins parents, Mr. Philips Ayo; and wife, Magaret Dike, during the dedication of twins sisters, Ella and Emma, after 11 years of marriage, at the Christ Miracle Christian Centre, Ontario, Canada...recently

FEaturEs

NDDC: Ogbuku a Breath of Fresh Air

Etim Williams

Shortly after coming in as the Managing Director of the Niger Delta Development Commission NDDC, Chief Samuel Ogbuku ( PhD), made it clear that he has come to leave a footprint of genuine development in the Niger Delta region capitalising on the core mandate of the interventionist agency.

He immediately declared that the NDDC would no longer be a cash cow for politicians across the country but rather concentrate on the actual development of the region thereby promising a clear change of narrative for the commission.

Determined to achieve his goal, Dr. Ogbuku said his development approach would be by Public Private Partnership PPP and proceeded to lead the NDDC into strategic partnerships and collaborations with local and international development organisations, donor agencies and even management and financial institutions.

He also embarked on wide ranging engagements with strategic stakeholders of the Niger Delta region including governments, community leaders, women and youth groups without leaving out people living with disabilities, (PWDs).

And to underscore the essence of regular engagement of stakeholders, especially beneficiaries of its planned programmes to the sustainability of those projects and programmes, at the second edition of the Executive Management Roundtable Conference with Selected Niger Delta Leaders and Youth Group last week Dr. Ogbuku promised to make the roundtable conference a quarterly event.

His reasons; "to enhance the formulation and sustenance of the Commission's overall strategies for the development of the region".

He emphasised the importance of building the capacity of youths through strategic programmes as the Commission transits from transaction to transformation.

He explained that it was important to constantly be on the same page with the people on the planning and implementation of all development programmes so as to agree with them on priorities, quality, scope and range of projects and programmes for a genuine and sustainable impact.

According to him: "Not until we give all our leaders, political, traditional, youths, women and other leaders in the Niger Delta that platform and opportunity to discuss what our future should be, we may not understand the direction that our people want to go."

Ogbuku remarked that the NDDC has a duty to harness resources from different groups, noting: “We have gathered at this forum to hear from the youths; to interact with them and rub minds because we realise that we cannot be planning programmes for youths without involving them at the foundational level.

He said: “We have given more opportunities and hope to Niger Delta youths through our Holistic Opportunity Projects of Engagement, HOPE, meant to identify interests of the youths for skills training.

The NDDC boss said that the HOPE project had helped the Commission to develop a comprehensive digital repository, comprising important information about the youths of the Niger Delta region; including their qualifications, skills, interests, needs, and current employment status.

“So far, 470,000 youths have registered in the database and we will partner with youth organisations to ensure that all our youths are registered. This database will serve as a plank for data-driven planning, enabling the formulation of impactful policies and programmes targeted at the youths”, he stated.

He added that the NDDC was working with the Niger Delta Chamber of Commerce in the training of youths and young entrepreneurs in the Niger Delta region and explained that the Commission would collaborate with the Chamber of Commerce to support Small and Medium Enterprises in the region and ensure the sustainability of youth development programmes.

Ogbuku said; “We will also partner with the Bank of Industry to fund projects and support businesses and facilitate the success of our empowerment programmes. We will provide all the necessary support for youth entrepreneurship schemes,” he said.

“We will soon hold a Niger Delta Stakeholders

Summit and the youths must be a part of it. We need to continually provide the platform for all our stakeholders to contribute ideas for the development of the Niger Delta region.

He urged the people not to allow politicians to destabilise the NDDC, as such action was bound to hinder the development and sow the seeds of discord among Niger Deltans.

Also at another of such engagement at Asaba, the Delta State capital the Managing Director took time to reel out some of his achievements in the about just one year of his stay as the Managing Director of the NDDC.

The event was the opening ceremony of the 6th Meeting of the National Council on Niger Delta, a two-day meeting organised by the Ministry of Niger Delta Development in collaboration with the Delta State Government and the NDDC, focused on: “Stimulating Strategies for Economic Growth and Development in the Niger Delta Region.”

At the meeting Dr. Ogbuku tried to correct the erroneous impression in certain quarters that the Commission was not living up to its mandate of developing communities in the Niger Delta region.

The NDDC Chief Executive Officer stated that following the directives of President Bola Ahmed Tinubu, to the Commission to complete and commission signature projects that would impact the lives of Niger Deltans the Commission would soon inaugurate the completed 132/33kv electricity sub-station it built at Ode-Erinje in Okitipupa Local Government Area of Ondo State, to light up five local government areas in the state.

According to him: “Another flag-ship project ready for inauguration is the 29-kilometre Ogbia-Nembe Road in

Bayelsa State, which we executed in partnership with Shell Petroleum Development Company, SPDC.”

He remarked that the NDDC did not tell its success story well enough in the past, citing the case of the completed 1×15MVA 33/11kv injection substation in Amufi-Ikpoba Okha Local Government Area of Edo State.

The NDDC boss assured that the era of not having data or evidence of projects and programmes was gone, adding that the current Board and Management of the Commission had adopted strategies to showcase its activities.

Speaking on collaborations with other organisations, Ogbuku noted that the NDDC had made significant gains since it embraced Public-Private Partnership, PPP, as a major policy thrust.

One of such positive fall-outs, he said, was the signing of a Memorandum of Understanding, MoU, between the NDDC and the Nigeria Liquified Natural Gas Limited, NLNG, to collaborate on diverse fronts in the delivery of sustainable development projects.

In the area of health, Ogbuku said that the World Health Organisation, WHO, had agreed to partner with NDDC to implement a Health Insurance Project for the Niger Delta region adding that the Commission had resumed its Free Healthcare Programme which caters to the needs of rural communities, as part of the Commission’s commitment to enhance healthcare delivery to the people of the Niger Delta region.

According to Ogbuku, the free healthcare programme had attended to no fewer than 573, 688 patients from different communities in the region.

In the education sector, he highlighted the Foreign Post-Graduate Scholarship Programme of the Commission, noting that 2,323 students in the region had so far benefited from it saying; “We have just published the notice for the 2024/2025 scholarship programme.”

Ogbuku's approach to issues of the development of Niger Delta within this his short spell

The NDDC as a developmental agency which stands as a buffer between the oil producing region of the Niger Delta and the Federal Government is often faced with how to judiciously allocate the patrimony of the oil wealth. To overcome this challenge, we need someone in the person of Dr. Samuel Ogbuku at the helm of affairs who knows how to tip the scales to achieve a balance

at the commission is indeed novel and a clear departure from the norm.

It has therefore, won him plaudits among stakeholders, mostly the youths who have rallied around the Managing Director and his team, pledging their cooperation and support.

Speaking at the roundtable with leaders of youth groups in Port Harcourt, the President of the Survival of the Ijaw Ethnic Nationality in the Niger Delta, MOSIEND, Comrade Kennedy West, commended the leadership of the NDDC for providing a platform for interaction for youth groups in the region, noting that it was important to continually engage in discussions to lay a foundation for sustainable development.

West applauded the NDDC for initiating the Project HOPE, which was expected to engage youths of the region by creating employment opportunities for them, especially in agriculture.

The coordinator for Project HOPE, Ambassador Blessing Fubara, said that the programme would help to engage youths of the region by creating employment opportunities for them.

He said that the second phase of the youth empowerment programme would focus on commercial agriculture, information and communication technology, as well as assisting youths in the creative industry.

Shortly after, the youths under the aegis of Niger Delta Opinion Leaders, Youths and Weighted Stakeholders, held a press conference in Port Harcourt where they passed a vote of confidence on President Bola Tinubu and Managing Director, Dr. Ogbuku, the youths leaders commended President Tinubu for appointing Ogbuku and members of his management team to oversee the activities of the commission at this critical period of the life of the Niger Delta region.

They threw their weight behind Ogbuku, noting that he has the will and capacity to execute the much-needed development in the region.

At the press conference which was addressed by Freedom Atigbi Deputy President, Ijaw Youths Council, Worldwide, on behalf of the President, Sir Jonathan Senior Lokpobiri, the Ijaw youth leaders declared that Ogbuku remained the best bet to judiciously manage the funds of the commission in tackling the alarming poverty and developmental challenges in the region.

They said; "The NDDC as a developmental agency which stands as a buffer between the oil producing region of the Niger Delta and the Federal Government is often faced with how to judiciously allocate the patrimony of the oil wealth. To overcome this challenge, we need someone in the person of Dr. Samuel Ogbuku at the helm of affairs who knows how to tip the scales to achieve a balance.

"With all the reasoning put forth, we conclude that Dr. Samuel Ogbuku is the balancer and unifying power of our region. And because poverty and misery are not God given curses that man must passively accept but they are largely man made and can be remedied by man, it is only ideal that leadership should be the prerogative of the man who knows how to feel the pulse of his people, and Dr. Samuel Ogbuku fits perfectly for the NDDC, in this instance".

"He has our support and vote of confidence", he declared adding that the leaders were grateful to President Tinubu for appointing Ogbuku the Managing Director and Chief Executive Officer of NDDC, insisting that the leadership of the current NDDC boss signifies a rebirth of the commission.

Atigbi added; "This is leadership at its best where dialogue and accountability is on display. This convinces us that what we are experiencing in the Dr. Samuel Ogbuku led-management is beyond any describable form of leadership. We see it as a movement. It is a movement for the rebirth of a functional NDDC that transits from transaction to transformation.

“It is an idea which has come to give a new dimension to leadership in the NDDC and our region, and for making such an appointment, we thank President Bola Tinubu for his visionary insight.”

They urged naysayers of the NDDC MD to sheath their swords and align with Ogbuku in his efforts to bring genuine development to the region.

-Etim Williams is the Chief Press Secretary to the MD of NDDC from Port Harcourt.

Ogbuku

Mike Adenuga: 71 Colossal Steps on Stardom

Williams orji

Birthdays are meant to celebrate personality, works and sanctity of God’s grace in our lives. It is an avenue to reflect on who you are, whom you have been and where you are heading in your future endevour. Therefore, at a time like this, firmaments of heaven will open again to welcome the torrents of best wishes from friends, associates and family, as Chief Dr Mike Adenuga CSG GCON, marks his 71st birthday anniversary on the 29th of April 2024.

Therefore, it’s another year of celebration and thanksgiving when Nigerians and entire world stand still to celebrate this quintessential business mogul whose presence and positive contributions to the world stage have continued to defy the bookmakers, even as many have continued to ask, what makes Dr Mike Adenuga this thick?

Mike Adenuga’s history is already welldocumented and imbedded in the annals of historical record that graces our humanity. But most importantly, notwithstanding the acolytes so far received as a result of his many humanitarian gestures to Nigerians and the world at large, retelling of his deeds and impartation on people’s lives on this auspicious time of his birthday, will continue to be a way of affecting and moulding the mindsets and characters of future Adenugas in generations to come.

Such impact on generations to come, emanates from his knack to make all things he put his hands on to succeed - from his businesses to private endevours, Dr Adenuga has been a pillar that builds many successful conglomerates, and has grown and touched many lives as God blesses his hustles.

His outstanding posture in the business world has attracted many aliases to him. In some quarters he is known as the Guru, while in others they call him the Bull, even as some compatriots in the business world have taken it a niche further to refer to him as the Spirit of Africa, howbeit, Dr Adenuga has always made a significant impact in anything he touches his hand.- be it business, social humanitarian.

in life.

That tenacity and poise to make things work for him, pushed him into defining and pursuing his dreams, asserting his independence and chasing his life ambition early in life, thus by 1979, he has made his first millions at the age of 26, through the display of trading skills of selling clothing materials and soft drinks, that can only be seen in his Ijebu linage.

By the time he had grown to his thirties and going to fifty, Adenuga was a ready a household name in Nigeria business community, which is principled on the culture of attending to backbreaking hard work, which thus shaped him for his ambitious business adventures later

Within that period he founded many fast-moving and thriving companies that are entrenched in banking, oil and gas telecommunications, real estate and construction, etc.

His oil and gas business is aptly represented by Conoil (formerly Consolidated Oil Company); banking sector of his business interest was anchored on Devcom Bank and Equatorial Trust Bank, which later merged with Sterling bank.

In construction, Dr Adenuga is said to have a substantial interest in Nigeria biggest player in that sector, Julius Berger PLC. Perhaps his catch, where most Nigerians feel his impact is in the area of telecommunication through Globacom, a company that has been adjudge one of the biggest and most innovative in an all in-inclusive

mobile phone services, with operations spread across Nigeria, Benin, Ghana and Côte d’Ivoire.

His coming into telecommunication industry brought a relief to Nigerians. Since the launch of Glo mobile operations on Per Second Billing, Nigerians now pay for actual time spent on a call instead of the practice of billing customers N50 per minute even when the call cuts off at just 2 seconds. The coming of Glo also crashed the cost of SIM card from N30,000 to N6,999 and later N100, thereby making it possible for low income earners, students and artisans to own GSM lines today It is now one of the most recognizable brands across the continent.

The network currently has over 60 million subscribers, and is the most preferred network in Nigeria, with a vast network of already laid fibre crisscrossing all parts of the country. The Globacom network comprehensively covers over 400,000 communities, all the 36 states and all major highways.

With many of his blue-chip companies, Mike Adenuga has touched lives, resuscitated carriers and kept faith with those who have lost the hope of living again. From the country Nollywood industry, where he has shown so much commitments to actors and other players in the industry, to the media, struggling businesses etc, he have brought them into limelight and sowed seeds of growth in whatever they lay their hands in.

He has equally used his platforms to help the nation to navigate out of difficult situation. To this end, his platforms had sponsored many teams to international meets, and had helped to nurture upcoming talents.

An indigene of Oru, Ijebu-Igbo, Ogun State, Adenuga received his secondary school education at Ibadan Grammar School, Ibadan, Oyo State, Nigeria and Comprehensive High School, Aiyetoro, for his Higher School Certificate (HSC). He worked as a taxi driver to help fund his university education. He graduated from Northwestern Oklahoma State University and Pace University, New York, with degrees in Business Administration.

As soon as he finished his studies in the United States, Dr Mike Adenuga Jr returned to Nigeria to join his mother in the family business, and it was under her tutelage that young Adenuga began learning the rope in handling multi-tasking businesses, probably from the business ideas and advises he got from his beloved mother.

Dr Adenuga Jr, who is the youngest of his parents’ five children, began showing that business skills by selling removable car stereos, probably sensing his business acumen, he was allowed to run the family saw mill factory in Ogun State.

His golden touch to business manifested instantly as went into the importation of saw mill equipment, then veered into importation of beer eventually hitting it big with his importation of lace.

Recounting those early days, Dr Adenuga told a story of how divine placement played a role in his business success. He disclosed that while he was returning to Nigeria from a trip in the United States he missed his British Airways flight and had to fly Swiss Air. He said that on the flight to Nigeria, he was lucky to sit next to the owner of one of the biggest lace manufacturing companies in Austria.

He narrated that before the flight could touch down in Lagos, he had decided to take the advice of this the Australian businessman, to give lace importation business a shot; an advice that paid off instantly. Later, he also went into tomato puree and vegetable oil. He was a sort of Jack of all trades and master of all by the age of 26, he was already a millionaire.

As he grew older with more financial muscles being added to his business empire, he decided to streamline his operations and look for investments in key sectors of the economy to concentrate on. That was how he began to structure the Mike Adenuga Group where he is Executive Chairman.

Despite his success, Adenuga believes business must have a human face, it must add value, it must have an impact and ultimately, be socially responsible. These are some of the core values that he considers before throwing his money into any investment. That is not all, he also firmly believes that the world is a field of battle and you must prepare to win, not some time but all the time He’s a mountain climber like the Tibetan Monk, who believes that you must survive all odds to get to the top Dr Mike Adenuga Jr is married to Mrs Titi Adenuga (nee Adewale), who provides the comfort and stability that motivate and drive him to conquer his world. His children are Oyin, Babajide (Bobo), Paddy, Bella, Eniola, Bimbo, Sade and ‘Niyi Jnr He also has grandchildren. He was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA) in August 2007. In May 2015, Adenuga made a takeover bid to purchase Ivorian mobile telecom’s operator Comium Côte d’Ivoire for $600 million.

In 2012, he was made Grand Commander of the Order of the Niger by the government of Nigeria. He holds a Yoruba tribal chieftaincy as the Otunba Apesin of the Ijebu clan. In 2018, he was decorated with the insignia of a Commander of the Legion of Honour by President Emmanuel Macron of France.

Adenuga was cited as one of the Top 100 most influential Africans by New African magazine in 2019. And the list of acolytes and awards so far received is endless.

To Dr Adenuga, the world stands still in salute to you this day as you step into your 71 years steps of stardom. Congratulations, the Nigerian Best! •Williams Orji, a journalist, wrote in from Abuja

An Urgent Need for Equity in Provision and Distribution of Healthcare Equipment

On the 17th of April 2024, I was at a prominent General Hospital in Abuja when I noticed there was no electricity. The back-up generator was not on, but the hospital’s inverters powered computers and intranet system. The backlight from the computers stood out as they were the only perceptible light in the otherwise pitch-black halls. I met up with a colleague who was trying to find a suction machine for a patient who had developed blood infections (i.e., septicaemia) following a urinary tract infection. In the emergency ward, there was a diabetic patient who equally had a blood infection and required suction. After a few minutes of unsuccessful search, my colleague opted for a makeshift suction device. These were emergency situations requiring prompt action, yet time was wasted trying to find life-saving devices in the dark. This is unconscionable, unacceptable, but far too common.

Nigeria’s primary, secondary, and tertiary health service delivery are led by the local, state and federal governments, respectively. In 2019, the Federal Ministry of Health reported Nigeria had 40,821 health facilities. Of these, nearly 35,000 were primary healthcare facilities, approximately 6,000

were secondary and less than 170 were tertiary facilities [2]. From a service delivery standpoint, the primary health levels are meant to handle basic non-surgical healthcare problems; the secondary levels are meant to handle emergencies and essential surgical care that does not require specialist attention. The tertiary levels provide specialist care, research, and medical training. Practically, this is not the case because every level handles any case that comes to their doorstep. Nevertheless, the allocation of resources still follows a hierarchical order that reflects the theoretical service delivery mandate. This disparity has led to an acute lack of basic medical equipment and consumables that has adversely impacted patient outcomes. This crisis affects primary and secondary care facilities disproportionately.

Back at the General Hospital in Abuja, the two patients passed away. It is important to note that the suction might not have averted this unfortunate outcome. However, it’s unavailability coupled with the lack of electricity are symptomatic of our health system. While some facilities lack this basic equipment, there are facilities that have an abundance of unused equipment in their stores. Often, they relegate old equipment to storage rooms when they buy new ones. In 2017, a brand-new linear accelerator, a machine used to treat cancers,

was found in the storage room of the National Hospital Abuja. This was at a time when other tertiary facilities were limited in their management of cancer; however, the expensive device had been locked in its crates for 4 years up to that point [1]. Similarly, other tertiary facilities have ultrasonography machines that they no longer use, packed up in a corner, patronized by lizards and dust. Yet, there are so many secondary and primary healthcare facilities that lack ultrasonography equipment [3]. Some might argue that storing the old equipment is a contingency for when the new equipment breaks down but I believe we should consider redistributing some of this to other facilities across the country.

Our government has limited resources, so we must ensure that they are allocated efficiently. Hence, Procurement and Distribution Departments should ensure that resources are reallocated based on ongoing needs assessments. I propose they undertake a nationwide census of medical equipment and consumables followed by servicing refurbishment of all surplus devices with the aim to hand them down to other facilities. Lives depend on these decisions, and we cannot afford to lose them or waste resources. The Federal Ministry of Health should allocate funds for this exercise. The federal government recently approved funds

for healthcare in Nigeria, this initiative should be taken into consideration [4].

While healthcare workers continue to strive to provide optimal care to each Nigerian, the lack of resources might require occasional improvisation, but there should be some level of basic equipment available. The facilities that make up the backbone of our health system suffer the brunt of the equipment inequity. Every Nigerian life is precious, so we must ensure that they are given a fair chance to avoid unnecessary disability and death.

•Dr Daniel David OTOBO is a fully licensed medical doctor in and from Nigeria. He had his Bachelors of Medicine and Bachelors of Surgery training at the Bingham University, Nigeria. He is certified in Trauma Evaluation and Accident Management, Certified in Sexual and Reproductive Health and Rights from Ghent University Belgium. He is Certified in Global Health from the University of Washington, USA. He is a certified member of the American Academy of Neurology (AAN) and an active member of the Global Surgery Working Group of the World Medical Association (WMA) JDN. He is currently a Global Surgery Fellow with Operation Smile at Virginia Beach, VA, USA.

Adenuga

Daniel David otobo

discourse

As Leemon Ikpea Backs Tinubu’s Vision for Nigeria, Says He is a Transformative Leader

Eyeing a New Nigeria, Chief Leemon Ikpea, the founder and chairman of the Lee Engineering Group and Allied Companies Limited backs the governance vision of President Bola Ahmed Tinubu, urging faith and patience in the president’s challenging trajectory, Louis Achi writes

Up close, Dr. (Chief) Leemon Ikpea, emits controlled vibrations of energy. His intensity of focus mirrored in the precision of his numerous, successful project executions is unmistakable. He has certainly proved that entrepreneurship, integrity, philanthropy and hard work fundamentally address human development.

At the level of small talk, you could hardly get the better of the Adolor of Ewato. He is an astute, top-notch entrepreneur more at home with analysis and action; and believes that bold leadership requires making tough choices in the interest of society and humanity.

That is why he insists that the tough choices President Tinubu is making are in the national interest. Without beating about the bush, he insists the President’s decision to remove fuel subsidy was a necessary action to head off national bankruptcy and reset the economy for growth, even though it has caused difficulties and hardship for many Nigerians.

Chief Ikpea also picked out Tinubu’s currency reforms to establish a marketdetermined exchange rate, arguing, this will boost competitiveness, deter corruption and improve transparency.

He perhaps hit the bull’s-eye when he stated that under President Tinubu, the economy has turned the corner.

“Nigeria’s economy has turned the corner. I strongly believe that in the coming months, the economy will roar back to glory. We should have cause to openly acknowledge these positive changes and celebrate by this year’s ending. Mark this. Nigerians must unite, rally around our President and his team,” a clearly elated Chief Ikpea told THISDAY.

Chief Ikpea is the founding Chairman/Chief Executive Officer of the Lee Group of Companies, a conglomerate traversing oil and gas services, engineering construction, travels and tours, and equipment fabrication and manufacturing. Lee Engineering is now a leading indigenous oil, gas and power services company performing brilliantly and professionally in the league of multinationals.

Worthy of note is that Chief Ikpea is also at the forefront of the promotion of indigenous technology, to take up the challenges of the oil and gas sector, engineering construction, and jobs that were hitherto, the forte of big foreign companies.

Another defining feature of the Ikpea persona is his statesmanship. He rides far above primordial and partisan interests, as his network of relationships cut across tribes, religions and races, both within and abroad.

Always sensitive to his environment, it is perhaps not surprising that Ikpea’s focus firmly remains on deepening the country’s success stories, confronting the multi-hued challenges and building more enormous frontiers for national prosperity. It is against this backdrop that he has expressed his total support for the governance vision of the President which he believes fundamentally targets a new, more secure and prosperous Nigeria.

He shared something of this deep position with THISDAY recently. His words: “It’s not just a cliché that Tinubu redefined the foundation of modern Lagos, which his successors built on. He made bold decisions and executed destiny-defining policies. Such a leader’s past can only illuminate a promising future for the people.”

According to the humble billionaire entrepreneur, genuine transformation of a nation to put it on the path of prosperity is a gradual process. Hear him: “The process is gradual. It’s understood that many of the country’s challenges accumulated over decades. Successive leaders shied away from taking bold decisions until things came to a head. So, who bells the cat? Courage is a true sign of leadership. When the going gets tough, the tough gets going. We can see that in the president.”

Chief Ikpea who covets knowledge-driven innovations, proactive engagement with

stakeholders, policy makers and sure-footed action told THISDAY that “It’s no secret that today, the world, Africa and Nigeria stand on the brink of substantial disruptions – and also of considerable opportunity - as new governance, political and business models challenge traditional playbooks.”

According to him, only leaders with bold visions can provide the needed stability and safety as they grapple with the imperatives of transformation. “Clearly, President Bola Ahmed Tinubu is one such leader on the continent,” he said.

Chief Ikpea takes the pledged creation of a trillion-dollar economy in ten years as one example of Tinubu’s proclamation which he said many are doubting without valid grounds. He recalls that the US State of California recorded over three trillion-dollar GDP in 2023 by leveraging its human and technological resources. He agrees with President Tinubu’s administration that its Renewed Hope Agenda can indeed leverage Nigeria’s population and resources to build a trillion-dollar economy within the next decade.

President Tinubu had noted that achieving his ambitious goal of creating a trillion-dollar economy in ten years can be further facilitated by ongoing efforts on job creation, access to

capital for SMEs, inclusiveness, the rule of law and the fight against insecurity, hunger, poverty and corruption.

The President made this declaration during the opening session of the 2023 National Engineering Conference, Exhibition and Annual General Meeting of the Nigerian Society of Engineers (NSE) in Abuja, last December.

Chief Ikpea readily agrees with the Hon. Minister of Information that Nigerians are reaping the benefits of Tinubu’s reforms, though acknowledging the hard times most Nigerians are currently experiencing. “The difficult times are indeed temporary, but the benefits will be permanent,” he insists.

According to Ikpea, “Under President Tinubu’s administration which is under a year old, a GDP growth of 3.46% in the fourth quarter of 2023 as against 2.54% was recorded in the third quarter of 2023.

“There was a sixty-six per cent rise in capital importation in the fourth quarter of 2023, reversing a 36% decline in the third quarter, petrol importation reduction by 50% since the withdrawal of the fuel subsidy and the crossing of the 100,000 mark of the Nigerian Stock Exchange All Share Index mark – its highest ever, mainly due to the pragmatic reforms initiated by the President, which inspired investor confidence

in the Nigerian economy.

“Because of Tinubu’s reforms, oil production has risen from 1.22 million barrels per day in the second quarter of 2023 to 1.55 million barrels per day in the fourth quarter of 2023.

“It shouldn’t be forgotten that the President has also given a directive for the design of a Social Security Unemployment Programme to cater for the unemployed graduates. This is in addition to setting up of a Social Consumer Credit Scheme to boost the purchasing power of Nigerians, as they make adjustments in view of the temporary economic hardship.

“The government is equally tackling insecurity headlong and more success stories are coming in on a daily basis. Without any doubt, Nigeria is winning the war against insecurity.

“These testify to the bold initiatives taken by Mr. President to reflate the Nigerian economy and return it to the path of growth and sustainable development.

“Recently, President Tinubu approved a revolutionary approach towards reducing the cost of governance through the implementation of the much-talked-about Oronsaye Report – 12 years after the report was submitted to the then President, Dr. Goodluck Jonathan.

“This is a clear demonstration of Mr. President’s unwavering commitment to fiscal prudence and responsible governance by championing a comprehensive review of the government’s commissions, agencies, and parastatals.

“In recognition of the need to rationalise the size and scope of government, the President has taken decisive action to merge certain agencies and scrap others that are redundant or have outlived their usefulness.

“The merger of some agencies and parastatals and the scrapping of others are not decisions taken lightly. It followed careful consideration and strategic planning to ensure that essential services are not compromised and that the needs of our citizens are adequately addressed while putting the interests of the nation first and foremost.

“Through the implementation of Oronsaye’s Report, President Tinubu clearly aims to achieve significant cost savings by eliminating duplication of functions, streamlining administrative processes, and optimizing resource allocation. This proactive approach will enable the government to operate more efficiently, while maintaining quality delivery of services to the Nigerian people.

“It is worth noting that these measures are not undertaken in isolation but are part of a broader strategy to reform and modernize government institutions by leveraging technology, promoting innovation, and fostering a culture of performance and accountability across all sectors.”

The unassuming Adolor of Ewato reiterates his conviction that hard choices being made by the country’s leadership today are a promissory note to a certain productive and prosperous future. Notwithstanding that not many may share his conviction, he holds that if the federal government conscientiously implements its economic policies, making adjustments where they are needed, there certainly will be light at the end of the tunnel.

Chief Ikpea urged Nigerians to exercise more patience with the Tinubu administration. Hear him: “My advice to Nigerians is to be patient. I feel the painful pinch of the reforms. It must be endured with the hope and confidence that things will return to normal. In the interim, we should all support the president and his administration. Normalcy will return sooner rather than later. No sacrifice is too big to make for one’s country.”

Chief Ikpea is an exemplary nationalist, patriot and philanthropist who is driven by realism, optimism and prosperity for his people as he continues to intensify his investments in the nation’s economy. “We have ongoing gas projects, several of which will also increase the government’s revenue,” the champion of local content, especially in the strategic energy sector stated.

Indeed, his logic and nationalistic fervour can hardly be faulted.

Ikpea

BUSINESS WORLD

RATES AS AT Ap R il 29,2024

Emmanuel Addeh in Abuja

The federal government expended about $2.16 billion in importing Premium Motor Spirit (PMS), otherwise known as petrol, in January and February this year, despite the reduction in consumption of the product on the back of the fuel subsidy removal, documents sighted by THISDAY have shown.

Comprising mainly Direct Sale, Direct Purchase (DSDP) arrangement and spot import volumes, the quantity of fuel brought into the country with that amount was over 2.7 million metric tonnes for the period.

This was separated into 1.22 million tonnes in January and 1.03 million tonnes in February

respectively for spot purchases, while the volume exchanged through DSDP was 138, 178 tonnes for January 2024 and 126,794 tonnes in February.

According to the Nigerian National Petroleum Company Limited (NNPC) transaction documents covering the period, in January, the national oil company imported fuel valued at $1.019 billion, while in February, the figure was $891 million through the spot purchase arrangement.

However, through the DSDP agreement, Nigeria imported $150.7 million worth of petrol in the first month of 2024, while in February, it swapped products worth $107.9 million

Consequent upon the removal

of petrol subsidy on May 29, 2023 by President Bola Tinubu, in June last year, the NNPC announced that it had begun the termination of crude oil swap contracts and would therefore start to pay cash for petrol imports.

“In the last four months, we practically terminated all DSDP contracts. And we now have an arm’s-length process where we can pay cash for the imports,” NNPC’s Group Chief Executive Officer, Mele Kyari, said at the time.

On October 14, 2023, Kyari reiterated to the international media that the national oil firm had started purchasing petrol via cash tenders, rather than oil swaps.

However, the NNPC’s data

detailing its import transactions for the first two months of this year, showed that DSDP arrangement was still in place, to a smaller extent than when it started almost a decade ago. However, the national oil company maintains that the DSDP arrangement had been halted and was no longer in existence.

In essence, the DSDP is an agreement that allows the sale of crude oil to refiners, who will in turn supply NNPC with an equivalent worth of petroleum products.

According to the document, NNPC’s only client in the oil swap deal during the period under consideration was Gulf Transport and Trading, which

shipped in the product using four vessels: Sti Veneto, Advantage Love as well as Petalouda and Torm Gwyneth.

On the other hand, the major clients in the spot volume purchases were Coral Energy, Gulf, MRS Oil and Gas, Concord, Mocoh SA, Vitol, Sahara Energy Resources, Cepsa and Totsa.

Others were: Litasco, Cool Spring, Oando Plc, Penero, BP, Northwest, Asian Oil and Gas, Prudent, Emadeb, Aym Shafa, and Bono Oil.

However, the huge volume of import is still taking place despite information that Nigeria’s average daily petrol consumption may have fallen by as much as 30 per cent since President Bola Tinubu scrapped the costly

subsidy on the fuel at the end of May last year.

After the removal of subsidy, average daily petrol consumption fell to 48.43 million litres, down from the previous average of 66.9 million, according to figures from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The subsidy, which started in the early 1970s had kept prices cheap for decades in Africa’s biggest economy but it became increasingly expensive for the country, especially as the population skyrocketed and oil production dwindled.

Reuters Survey: Inflation in Nigeria to Remain Stubborn Till 2025

Inflation in key African economies will slow into next year but remain stubbornly high in Nigeria due to sporadic flooding and difficult terrain for Nigeria’s currency, the naira, a Reuters poll has found. The acute shortage of dollars in much of the continent including Angola, Nigeria and Zambia has often put home inflation under

significant strain due to a reliance on single commodity currency inflows such as crude oil and copper.

Still, the poll of 15 analysts taken in the past week showed inflation would moderate more in countries with better diversified sources of dollar revenues such as Kenya.

Inflation in Nigeria is expected to quicken to 29.1 per cent this year from an average of 24.5 per

cent last year, before it slows to 17.2 per cent next year. It hit a 28-year high of 33.2 per cent in annual terms last month.

Nigeria central bank governor, Olayemi Cardoso raised the monetary policy rate by 200 basis points to 24.75 per cent last month after a 400 basis point hike in February.

“Even with a more coherent monetary policy now in place, and

potential naira stability, Nigerian inflation will only fall slowly this year,” Citi wrote in a note to clients.

“The high inflation rate reflects ongoing elevated food price inflation, which accounts for around 50 per cent of the CPI basket and is only marginally impacted by monetary policy,” Citi added.

High food price inflation is a result of flooding seen in many parts of the country in recent

years, the rising cost of fertiliser and continuing insecurity in many food-producing regions.

Ghana inflation averaged 40.3 per cent last year, but is expected to slow markedly to 18.7 per cent this year and then to 12.1 per cent in 2025.

Angolan inflation is forecast to slow to last year’s average of 13.6 per cent next year from 23.7 per cent this year, while in Zambia it

was seen slowing to 8.0 per cent in 2025 from 12.3 per cent this year.

Inflation in Kenya will remain one of the most-tamed in the region apart from South Africa, slowing to an average of 5.6 per cent next year compared with 6.3 per cent this year, the poll found.

A separate poll earlier this month predicted inflation in South Africa would slow to 4.6 per cent next year from 5.1 per cent this year.

Emmanuel Addeh in Abuja

X-Raying Lekki Deep Sea Port’s First-year of Commercial Operations

Gilbert ekugbe takes a cursory look at some of the milestone achievements which Nigeria’s first deep sea port has recorded since it started commercial operations one year ago

Nigeria’s first automated deep-sea port, Lekki Deep Sea Port, in its one year of commercial operations, has had several multiplying effects on the Nigerian economy at large. The port which was heralded as a game-changer was built to alleviate congestion issues in existing ports, improve cargo handling efficiency, stimulate economic growth by generating revenue, increase GDP, and foster industrial development.

From its strategic location, and availability of modern facilities, to the expertise and capacity to handle larger vessels swiftly, the port is gradually fulfilling its purpose: to give Nigeria a lifeline by wresting its neighboring countries for a bigger share of the global trade by the use of larger vessels as well as transshipment cargoes.

With a projected economic benefit of $361 billion over the next 45 years and the creation of around 170,000 direct and indirect jobs, Lekki Deep Sea Port is poised to significantly impact Nigeria’s trade relations with other countries by enhancing trade volume, improving port efficiency, and reducing delays in cargo handling. In just one year of operational efficiency, this modern deep-sea port has not only attracted foreign investment but also positioned the country as a regional hub for international trade. All of these wins have aligned Nigeria with global trade networks and the African Continental Free Trade Area (AfCFTA).

BeRthinG FiRSt tRanSShiPment OF CaRGOeS

The first transshipment vessel to call at the container terminal of Lekki Deep Sea Port, was the CMA CGM RIMBAUD. The service sailed from the Far East, through Shanghai, Singapore down to Kribi, Cameroun, before finally arriving at Lekki Port. It will later depart for Cotonou, its final destination, on 6th July 2023. This landmark achievement represented a significant milestone in Nigeria’s maritime history- a record-breaking event widely commended by stakeholders in the maritime sector as a clear demonstration of Nigeria’s readiness to revolutionize Africa’s maritime sector.

aRRiVaL OF the LaRGeSt VeSSeL

Boasting a depth of 16.5 meters with the potential for further dredging to 19.5meters, the arrival of the CMA CGM Rabelais in May 2023, which was the largest vessel to berth after the commencement of commercial operations at the port, attested to the port’s capacity to handle large container vessels. The vessel, which has a 300m Length Overall (LOA) and the capacity to carry an impressive 6570 Twenty-Foot Equivalent Units (TEUs), discharged and loaded an exchange of 200 TEUs at Lekki Port. The CMA CGM Rabelais set a new record for the port and, indeed, the Lagos Pilotage District, as being the largest vessel in ship dimensions to berth in the district, second only to the largest FPSO in the world, Total’s Egina FPSO. The milestone marked the port’s readiness to become a major hub for global trade and logistics.

This feat was soon overtaken by the arrival of several 14,000 TEU vessels notably the CMA CGM SCANDOLA, an LNG-powered 14 812 TEUs container vessel, the first LNG-powered container vessel to sail to West Africa. The CMA CGM SCANDOLA with an overall length (LOA) of 366 meters and a width of 51 meters

was received amidst pomp and pageantry at Lekki Deep Sea Port where stakeholders of Lekki Port, Lekki Freeport Terminal, and CMA CGM, including top government functionaries, captains of industries, and the media witnessed its arrival.

At that moment, it was clear that Lekki Port’s position as a key player in the global maritime market was already being cemented. This is because the arrival of CMA CGM SCANDOLA, which is part of the CMA CGM West Africa Express (WAX) service direct from China to Lekki Port, represents a strong leap in the efficiency and capacity of maritime transport in Nigeria.

While alluding to the monumental achievement, the Chairman of Lekki Port, Biodun Dabiri said, “This marks a major step in driving economic growth, seamless movement of goods, fostering international trade, and strengthening Lekki Port’s position as a key player in the global market.”

Echoing the same position, the Chief Executive Officer, Lekki Port, Du Ruogang said the arrival of the WAX service bolstered enough confidence that Lekki Port will play a major role in the Nigerian maritime sector.

DePLOyment OF SCanneRS

To improve the inspection process for goods entering or leaving the ports, aiding customs operations, and ensuring compliance with regulations, the Port commissioned a state-of-the-art scanning facility, also known as the Non-Intrusive Inspections System to fast-track the examination and evacuation of containers from the port. The world-class facility was commissioned

to significantly optimize the inspection process and increase cargo turnaround time at the port.

Lekki Port ensured that the customs personnel to carry out the scanning were trained with the requisite skills to operate the state-of-the-art facility.

Since installation, the scanners have enhanced the ease of doing business, facilitated trade, prevented port congestion, boosted revenue generation for the government, and improved national security.

Reduced cargo turnaround time

To maneuver large ships by either towing or pushing them, aiding in docking, undocking, and navigating through narrow or congested waterways, Lekki Port took delivery of two 80-ton Bollard Pull tug boats christened M.T MAIKOKO and M.T DA-OPUKORO, from the Nigerian Ports Authority (NPA) regulator of port operations in Nigeria. This maritime infrastructure, according to the regulator, would help enhance efficiency and reduce cargo turnaround time at the Port.

The neoteric tug boats, which are the first of the 2813 Azimuth Stern Drive models to be available in Africa, with the maneuverability of 360 degrees, are poised to enhance the maneuvering of large capacity vessels of 300 metres LOA and above.

These facilities are considered essential to Lekki Port for the smooth berthing of large

vessels as these would assist the movement of vessels from the approach channel to the quay wall and also depart from the port. The tug boats have been critical elements of marine services at the port.

GOVeRnment’S COmmenDatiOn

The port continues to marvel stakeholders, partners, and employees alike for its state-ofthe-art facilities and efficient service delivery which has strengthened connectivity, increased trade competitiveness and fostered economic growth. During his first official visit to the port in September 2023, the pioneer Honourable Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, after inspecting the best-in-class facilities and modern equipment advised the management to entrench a culture of maintenance that will keep the equipment and facilities in good working order for years to come.

On his part, the Executive Governor, of Lagos State, Mr. Babajide Olusola Sanwo-Olu, commended the management of Lekki Port, for raising the bar in the Nigerian maritime industry since the official commissioning of the port in January 2023 stating “As a responsive government and shareholder of this port, we are very proud of the achievement of Lekki Port since its inauguration a year ago. This port and the entire Lekki economic zone hold the key to the economic prosperity of our state and our country as a whole”.

Over the last 12 months, a total of 77 vessels, 100,000 containers and 22, 447 transshipments have been received. These statistics have further positioned Lekki Port as the standard bearer for port operations in West Africa.

Stakeholders Brainstorm Pathways for Global Cocoa Value Chain Devt

Gilbert Ekugbe Stakeholders in the cocoa value chain have expressed commitment to address the lingering issues hindering cocoa value chain development in the world.

The move according to the cocoa stakeholders is apt, as they called on world economies to adhere strictly to sustainability measures and new regulations.

Highlighting the success of the World Cocoa Conference in Brussels, Belgium, held from

April, 21st – 24th, the National President of the Cocoa Farmers Association of Nigeria (CFAN), Comrade Adeola Adegoke, said the event reinforced the commitment of stakeholders towards combating practices detrimental to the long-term sustainability of the cocoa industry.

According to him, the key among the discussions was the implementation of the European Union’s Directive on Deforestation and Forest Degradation (EUDR), which signals a collective willingness

to embrace change.

He said there are big questions that need answers, which include who pays for making sure cocoa farming follows new rules without putting too much burden on farmers and whether other countries are ready to join in making cocoa farming more sustainable, not just the big ones like Ivory Coast and Ghana, the procedure for the calculation of sustainable pricing or fair pricing that takes into consideration the cost of production and the

profit margin without leaving the market model at demand and supply mechanism which has always short-changed the producers in past years?

“What happens to the encroached conserved areas with large cocoa plantations after 2020 which contribute almost 30% of the global cocoa supply if not more? How do cocoa origin countries strengthen the implementation of carbon credit in order for the producers to be encouraged in compliance?” He asked.

He further drew attention to the preparedness of cocoa-producing

nations beyond Ivory Coast and Ghana, which have traditionally received substantial investments in sustainability programmes.

Commending the European countries, Adegoke said they have demonstrated their uncommon passion for the consumption of chocolate at every corner of their daily activities.

He urged West African countries, saying, “West African cocoa origin countries must start to chocolatize the toques of our children in order to change the culture of low cocoa

consumption that transcends from one generation to another.”

“Our power must not only lie on production but more energy must be put into consumption in order to raise the livelihoods of our producers for the sustainability of the cocoa economy of our region.

Adegoke also called for a model of cooperation between forestry and agriculture departments within cocoaorigin countries to effectively implement the EUDR policy while addressing deforestation concerns.

by the erstwhile Customs Area Controller, Nigeria Customs Service, Lagos Free Zone Command, Comptroller Dorothy Omogbehin, on August 30, 2023. The objective was

FAO Unveils Ten-year Plan to Combat Antimicrobial Impacts on Farms Globally

Gilbert Ekugbe

The Food and Agriculture Organization of the United Nations (FAO) has unveiled a 10-year strategy to reduce the need for antimicrobials on farms, amid the growing threat posed by Antimicrobial Resistance (AMR) in the food and agriculture sector globally.

According to a statement obtained from the United Nations food body’s website, the launch of a new actionoriented, country-focused initiative to impacting terrestrial and aquatic animal health, plants and the environment and causing significant economic losses to farmers across the globe is vital to transforming agri-food system across the globe

FAO Director-General QU, said the persistent use of antimicrobials in livestock

production is concerning for human health, animal welfare, and environmental sustainability.

Announcing the launch of the initiative Reduce the Need for Antimicrobials on Farms for Sustainable Agrifood Systems Transformation (RENOFARM), he called on global economies to explore innovative pathways to curb the use of antimicrobials and promote sustainable practices that safeguard public health and the planet’s well-being, while improving livestock productivity.

Organised in collaboration with the Rongchang District, Chongqing City, Chongqing Academy of Animal Sciences, National Center of Technological Innovation for Pigs, and with the support from the Ministry of Agriculture and Rural Affairs of China, the event gathered more than 200 experts from

China and across the globe.

The RENOFARM initiative aims to provide countries with policy support, technical assistance, capacity building, and knowledge sharing to help reduce the need for antimicrobials in livestock production, prioritizing animal health and welfare, mitigating environmental impact, and enhancing food security and nutrition thus, helping to achieve the 2030 Agenda and its Sustainable Development Goals.

“Working together with governments, farmers, private sector and civil society organisations and other actors, it will promote the “5 Gs” at the farm level: Good Health Services, Good Production Practices, Good Alternatives, Good Connections, and Good Incentives, “the FAO DirectorGeneral said.

Chevron, Exxon, TotalEnergies Release Q1 Reports, Record Mixed Results

Oil giant Chevron Corp has beaten estimates for first-quarter profit as higher production volumes in the US helped offset a hit from weak natural gas prices and fuel margins.

The second largest US oil producer posted a profit of $5.5 billion in the quarter ended on March 31, down from $6.57 billion, or $3.46 per share from a year ago. Results beat consensus by 2 per cent as recent acquisitions bolstered oil and gas volumes. Chevron said results were sustained by higher production brought by the acquisition of PDC Energy, Inc and sustained strong execution in the Permian and DenverJulesburg (DJ) Basins.

Chevron said first quarter oil and gas production jumped 12 per cent, to 3.34 million barrels of oil equivalent per day (boepd).

Earnings from pumping oil and gas were $5.24 billion, up from $5.16 billion in the same period a year ago. But profits from producing petrol and chemicals fell sharply, to $783 million from $1.8 billion a year ago. Refining suffered from weaker margins and higher operating expenses, the company said.

It reported adjusted per share profit of $2.93 for the first quarter, beating analysts’ consensus estimate of $2.87.

Also, Exxon Mobil missed analysts’ estimates with a 28 per cent year-on-year drop in first quarter profits as weaker

refining margins and lower natural gas prices offset volume gains.

Exxon, which is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources, posted lower first-quarter earnings of $8.22 billion, down from an $11.43 billion net profit a year ago.

Earnings from oil and gas production fell 14 per cent on lower natural gas prices and refining tumbled 67 per cent on weaker fuel margins, mark-to-market derivatives, and higher maintenance costs. Its chemicals business, however, was a standout, with earnings more than doubling on lower input costs and higher margins, the company said.

Agric Devt: Clergy Tasks FG on Enabling Environment

Gilbert Ekugbe

The president, Oasis of Breakthrough International Church Inc, Apostle Israel Oyelade, has called on the federal government to provide the necessary infrastructure and support to the nation’s agricultural sector.

Oyelade said that the call is coming on the heels of the high level of hunger in the country, explaining that Nigeria has all it takes to meet its food needs.

Speaking on the sidelines of a community welfare service aimed at providing relief items to the poor and widows in the Ifo Community and environs that is organised by his church on an annual basis, he pointed out the greatest challenge hindering agricultural development is the lack of a conducive environment for the sector to thrive.

“There has to be an enabling environment for farming to thrive. Businesses need not wait on the government to provide basic amenities and find ways to work round the readily made infrastructure provided,” he urged.

Meanwhile, he said that the church started the free feeding initiative to alleviate

the high level of hunger in the country, saying that tackling hunger cannot be solved by the government alone.

“We started in 2010 when I clocked 40. We started with widows, ministering to widows, giving them foodstuffs, clothing annually.

“The issue of hunger can never be solved by any government. We must

pray that God helps us to overcome poverty. Thinking the government would eradicate poverty one day is a mirage.

“God that we are serving created the rich and the poor why didn’t he make everyone rich, so if he did not make everybody rich, why do we think the federal government can make everybody rich,” he added.

End of Oil Not Coming in Near Future, Says OPEC Boss

Emmanuel Addeh in Abuja

The Secretary General of Organisation of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais, has said that contrary to the position of some developed countries, the end of oil is not in sight.

In an op-ed article, in the Middle East Economic Survey (MEES), Al Ghais wrote there is “a worrying trend of narratives” that use terms like the end of oil, which have the potential to foster energy policies that stoke energy chaos.

“What if investments in supply fall as a result, but demand for oil keeps increasing,

as we are seeing today? The reality is that the end of oil is not in sight,” Al Ghais wrote in the article shared on X.

OPEC countries believe oil use will keep rising in coming decades, in contrast to bodies such as the International Energy Agency (IEA), which predicts it will peak by 2030.

The OPEC chief’s position also aligns with Nigeria’s, which has said it will deploy its massive oil and gas resources for development, insisting that no amount of pressure from the developed countries will make it back down on this.

Emmanuel Addeh in Abuja

Osezua: Bad Corporate Governance Plunged Oil Industry Investments to $6bn

Peter Uzoho

An oil and gas professional and Chairman of Cordros Capital Limited, a financial services group, Mr. Charles Osezua has attributed investment decline in the upstream petroleum sector from $22.2 billion in 2014 to $6 billion in 2021 to partly the failure by indigenous companies to adhere to corporate governance principles.

He said this was noticed when the international oil companies (IOCs) began their divestments and Nigerian companies who started taking over their assets could not make the needed capital investments because of their failure to keep to corporate governance rules.

Osezua, who doubles as the Chairman of Aret Adams Foundation, made the assertion during his remarks at the Foundation’s 21st Lecture Series held in Lagos, with the theme: “Reinvigorating Investments in the Nigeria Oil and Gas Sector”.

He lamented that over the last 15 years, there had been steady

decline in Nigeria’s ability to attract and retain foreign direct investment (FDI) to the oil and gas sector.

According to him, “From a high of $22.2 billion in 2014, to $6 billion in 2021, and it is still declining”.

Osezua pointed out that also troubling was the steady withdrawals and divestments of many IOCs, arguing that while divestments have created opportunities to deepen indigenous participation in the upstream sector, growth however constrained without capital.

“While it is not known for certain, the reason for this decline, indications are that it may not be unrelated to corporate governance and failures to adhere to the principles and values which guided business in the Aret Adams days,” the oil industry guru stated.

He noted that over the last 20 years since the death of Chief Adams, the Foundation had organised the Lecture Series, in an effort to propagate a culture of excellence and advance the values

and principles which defined the late earth scientist, whom he said distinguished himself in his work.

Osezua recalled that in his early days in the Nigerian National Petroleum Corporation (NNPC), the late Adams led efforts to exploit and open the frontier basins of Nigeria and recorded great successes, with six major discoveries offshore.

The Cordros Capital chairman described Adams as a professional, pragmatist and a man of integrity, unambiguous in his speech, which made it easy for his peers and colleagues to believe in his words and trust him.

“Hence, when crude oil price collapsed below $13 per barrel, in the mid 1980s, Aret renovated the joint operating agreements with the International Oil Companies (IOCs) to keep the rigs in Nigeria working on the back of Memorandum of Understanding (MOU), with great success. Thus, while most of the global oil producing countries were shut down, Nigeria was running,” Osezua recounted.

SON Restates Commitment to Upholding Quality Standard for Iron Products

The Standard Organisation of Nigeria (SON) has declared its commitment to upholding quality standards that would safeguard consumers’ interests and promote Nigeria’s economic development.

It made declaration in a public statement titled “SON Remains Steadfast in its Commitment to Safeguarding Consumer Interests and Promoting Economic Development Through Standardisation in the Iron and Steel Sector.”

The statement, which was signed by its Director of Public Relations, Mrs. Foluso Bolaji, was issued in rebuttal of an allegation made by the Iron Rod and Steel Distributors Employers Union of Nigeria (IRSDEUN) that expressed dissatisfaction with SON’s ineffectiveness in curbing the circulation of substandard products in the Nigerian market.

Bolaji said: “In light of these developments, it is evident that the allegations leveled against SON by the IRSDEUN are unfounded and without merit.

“We urge stakeholders to

desist from spreading misinformation that undermines the efforts towards quality assurance in the iron and steel industry.

“As SON remains steadfast in its commitment to safeguarding consumer interests and promoting economic development, we call for constructive engagement and cooperation from all stakeholders to address challenges effectively.”

The press statement said that contrary to the claims made by the IRSDEUN, SON’s investigations and stringent monitoring mechanisms revealed a different reality, adding that it is essential to set the record straight and address the inaccuracies presented by the union.

“Firstly, the Standards Organisation of Nigeria vehemently rejects the assertion that SON has been lax in its regulatory duties.

“On the contrary, SON has been proactive in implementing measures to ensure that only products meeting the required quality standards are allowed into the market.

“Our efforts have led to significant strides in curbing the proliferation of substandard

MTN Nigeria Account Returns to SO&U

Following the announcement by MTN Group of the appointment of M&C Saatchi Africa as its marketing communications partner across all MTN Group Operating Companies, M&C Saatchi’s Nigerian affiliate, SO&U Group, has said it will be responsible for the business in Nigeria.

SO&U said it worked with other in-market agencies across the continent led by M&C Saatchi Africa, anchoring the Nigerian content of the pitch. In a statement, it said the appointment covers creative, media and digital services.

According to the Group Managing Director of SO&U,

Udeme Ufot, this win affirms SO&U’s commitment to professional excellence and an attestation of its resilience and continued relevance in the Nigerian marketing communications industry.

“We are really excited about the return of MTN and look forward to raising the bar on this second coming. MTN has always been a most inspirational client, fun to work with, highly professional, and well known for creating an enabling environment for mould breaking work. With our partnership with M&C Saatchi Africa, we are poised to embark on a new era of creativity, collaboration, and success.”

MARKET INDICATORS

iron rods and steel products,” SON said.

Bolaji noted that “the suggestion that iron and steel distributors are mere victims in this scenario is disingenuous. Credible findings indicate that distributors themselves have been implicated as key players in the dissemination of substandard products.

“There have been instances where distributors exert pressure on manufacturers to produce substandard goods for their selfish gains, thus perpetuating the cycle of substandard products in the market.”

The standard organisation cited the Memorandum of Understanding (MoU) signed by an association of Steel Manufacturing companies (STEELMAN) to form a voluntary self-regulatory team in February, 2024, under the auspices of SON, which underscored its commitment to quality assurance.

It described the MoU as a “the self-regulating system adopted by these companies, in collaboration with SON, demonstrates a proactive approach towards ensuring compliance with national standards.”

“In over three decades of operation, SO&U has distinguished itself for high impact creativity that has transformed brands and entrenched ideas and philosophies. Fueled by its desire to inspire the world with its passion and ideas, the Agency, founded by three creatives, is renowned for its iconic launch campaign for Guaranty Trust Bank and its brand transforming bullet train concept for Access Bank.

“We deliver solutions that work and see our partnership with M&C Saatchi on the MTN engagement as an opportunity to restate our credentials as Nigeria’s foremost brand transformation agency,” Udeme added.

Money Market Indicators (in Percentage)

The price of OPEC basket of twelve crudes stood at $87.33 a barrel on Monday, compared with $86.00 the previous Thursday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela)

L-R Minister of Tourism, Lola Ade-John and Managing Director & CEO of Sterling Bank Limited,Abubakar Suleiman, during the minister’s official visit to Sterling Towers, Lagos...recently

Dike Onwuamaeze

NGX Group Shareholders Approve N10bn Capital Raising Exercise

Kayode Tokede

The shareholders of Nigerian Exchange Group Plc (NGX Group), yesterday approved the management’s decision to raise N10 billion by way of rights issue, among other key resolutions at its 63rd Annual General Meeting (AGM) in Lagos.

NGX Group, subject to regulatory approval, discussed its

authorization on a rights issue to raise capital of up to N10 billion with a subjoined resolution to increase its share capital to sufficiently accommodate the rights issue.

During the gathering, the Group concluded on ordinary and special business matters, while also unveiling plans to embark on a comprehensive digital transformation strategy to expand its business operations in

line with its overarching strategy. Other key resolutions, approved by The Board of Directors, included the declaration of a final dividend, ratifying the appointment of Temi Popoola as the Group Managing Director/ Chief Executive Officer of NGX Group, presenting financial statements to shareholders, reelecting non-executive directors retiring by rotation, authorizing, and disclosing remuneration,

among other undertakings. Following substantial authorization across its agenda, NGX Group introduced plans to propel the markets with a digital transformation journey that includes an online platform for public offers and deep investments in its technology stack amongst others.

The platform will provide a smarter and efficient way for Issuers to raise capital and en-

hances the subscription process and operational workflow of POs in the capital market including initial public offerings (IPOs), rights issues and other public offers. Speaking at the AGM, the Group Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga said, “I am particularly grateful to our shareholders for their assent to the critical business we conducted today.

“As the Board oversees the

strategic direction and gives management the necessary support and guidance, we believe that the coming year will be a better one in terms of value created for our shareholders. NGX Group is positioned to capitalize on opportunities amid the positive and forward-looking reforms by the government and our stakeholders should rest assured we will deliver excellently.”

PRICES FOR SECURITIES TRADED ASOF APRIL 29 /24

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 25-April-2024, 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

Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/,

Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082

Future of Work Can Be Now

Marian Ejaife

When conversations about the future of work began to gain popularity in the workplace, several opinions were presented across leadership and management teams. In some sectors, employees wondered what this meant and what may be considered as acceptable standards, in enhancing operational efficiency. Now, as with many organisations across the world, our current reality has shifted to a more flexible and collaborative approach to work.

More companies are harnessing the agility, creativity and digital transformation that is influencing the adoption of the future of work, while advocating for social justice and decent work for all as with this year’s theme for International Labour Day

For companies, an effective talent strategy forms the bedrock for success and like the popular saying – a company is nothing but its employees. The world of work is changing and nowadays, we can argue that employees are more productive when they are allowed to work the way they choose to, driven by shared prosperity for both the employee and the organisation. In addition, society thrives on justice and the workplace is not excluded – the ability for employers and employees to come together to achieve one collective goal, establishes the fact that every nation’s workforce truly determines its progress locally and across international communities.

When we break down the concept of the future of work, two main aspects stand out; the opportunity for long term flexible working and the evolution of jobs. Data from the Future of work statistics highlighted that 85 per cent of jobs that will exist in 2030, have not been invented and that 70 per cent of the global workforce will work remotely at least five days a month in 2025. In some advanced countries, many governments are actively preparing for this actualisation, collaborating with the private sector to develop policies that can shape this concept, especially for jobs that are yet to exist. Upskilling and reskilling now becomes a major focus for employees to eliminate obsoleteness and constantly prepare themselves for the future of work, while adapting the required technology to make this a success.

healthcare, manufacturing, agriculture amongst others, serve as the engine of any economy and adapting these sectors to the future of work requires technology and automation. In the banking sector, for example, customer service for retail and institutional clients forms the core of the business for the different departments that drive efficiency. Innovation and technology have continued to enhance our business continuity, both from a customer and employee perspective. The ability to automate several tasks that would traditionally require the physical presence of an employee have been significantly reduced, further strengthening the concept of the future

of work that fosters productivity from anywhere.

For us at Bank of Industry (BOI), our focus is to consistently empower micro, small and medium enterprises for expansion, diversification, rehabilitation, and modernisation of their products or services. In the last five years we disbursed more than N1.4trillion to more than 4.4 million businesses. A major success we have recorded is how we have utilised technology to support talent transformation and modernise various departments as well as for our customers who are able to apply for loans without physical interaction. In expanding our human capital, we

have also transformed the way we work by enabling employees seamlessly transition between remote and onsite work, in a way that best suits their individual needs. We have further embraced the diversity and inclusion that builds successful organisations – that is diversity and inclusion in our recruitment processes, diversity in ideas, diversity in the way employees deliver work and even diversity in our employee relations. BOI also advocates strongly for women in the workplace, with female representation across the organisation at almost 50 per cent.

From a broader perspective, my task as human resource professional is to prepare our workforce and solidify our corporate strategy to fit the jobs of now vs the jobs of the future. We realise that technology may create more jobs than it phases out. As such, we have a shared responsibility as a government agency, to play a role in the transformative approach to work, ensuring an environment that supports policies for employees welfare, to promote organisational growth and future capabilities.

In terms of upskilling and reskilling, we have ensured that through training programs, employee initiatives and committees set up for monitoring and evaluation, we are able to achieve significant financial growth, with our total assets reaching 67 per cent at an impressive N3.3 trillion. Our profit before tax also witnessed a 177 per cent surge, rising to N104 billion. This significant growth in our numbers, further shows the value our employees bring in an environment where they can deliver their best in favorable working conditions and with fair and equitable compensation packages.

As we look ahead, if the jobs of today might not be the jobs of tomorrow, how then do we prepare? These are some of the questions that impact our strategy around trainings and employee relations to identify the needs, whilst working cross functionally with the different departments to understand what areas are evolving faster than other to guide our approach.

One of the UN’s sustainable development goals which emphasises on decent work and economic growth accurately analyses the direct impact of flexible work, suggesting that it is a key investment towards improving the quality of life of employees in the workplace, whether now or in the future. The ability to identify and integrate new models to work reflects on an organisations preparedness for future jobs, ensuring there are no gaps in overall operations and profitability.

As much as jobs will evolve according to research, traditional sectors will exist, especially those that contribute significantly to economic transformation. Banking,

“From a broader perspective, my task as human resource professional is to prepare our workforce and solidify our corporate strategy to fit the jobs of now vs the jobs of the future. We realise that technology may create more jobs than it phases out. As such, we have a shared responsibility as a government agency, to play a role in the transformative approach to work, ensuring an environment that supports policies for employees welfare, to promote organisational growth and future capabilities.”

As a key enabler of Nigeria’s industrialisation efforts, our employees are our priority as well as the small to large scale enterprises that benefit from the loans we offer to advance and revamp business operations. A part of our responsibility is offering advisory services and talent is not an aspect that we ignore, in terms of the major drivers of business efficiency. We think of the future of work as an end-to-end process, ensuring no stakeholder is left out and we know that it is happening now. It is not a programmed initiative and the more we embrace it, the more we remain competitive both for our industries and our workforce. BoI’s commitment to social justice and decent work catalyses organisational success, driving sustainable growth and fostering inclusive development within Nigeria and beyond.

• Ejaife is the Head of Human Resources at the Bank of Industry.

empowering Farmers to Avert Looming Acute Hunger

In 10 years from now, the number of hungry Nigerians could increase significantly due to food inflation. gilbert ekugbe stresses the need for economic managers to empower farmers or risk a higher percentage of the population face acute food insecurity in no distant time

Nigeria needs no crystal ball to reveal how severe its hunger levels would rise if no immediate attention is paid to avert the looming crisis of food scarcity in the country.

According to recent reports, approximately 17.7 million Nigerians are currently hungry, and this number may increase to 25 million if urgent action is not taken. Moreover, the Food and Agricultural Organisation (FAO) has reported that around 26.5 million Nigerians are at risk of hunger in 2024, with individuals in the FCT, Sokoto, Borno, and Zamfara States being most at risk as these figures highlight the urgent need to address food insecurity in Nigeria.

Also, according to the World Bank’s latest edition of the Africa Pulse report, a biannual

survey of African economies, Nigeria, Ethiopia, Malawi, Sierra Leone, and Zimbabwe are the sub-Saharan African (SSA) countries that recorded the fastest rise in food inflation in February this year.

Not disregarding the efforts of the present administration’s drive to attain food security, but a lot more is still required for Nigeria to be self-sufficient in food production. With Nigeria’s population to rise to 263 million by 2030, hence, the urgent need to redouble its capacity to produce food is definitely not out of place. As it stands, the country still relies on food imports to meet to some of its food needs. Reports have it that Nigeria spends over $10 billion annually to meet its food and agricultural production shortfalls (mostly wheat, rice, poultry, fish, food services, and consumer-oriented foods).

Food produCtioN iN

NigeriA

As it stands, insecurity in food producing States has greatly contributed to the skyrocketing prices of food items in the country as many farmers have abandoned their farms due to the spate of banditry and kidnapping especially in the Northern part of the country. The situation got so worrying that farmers had to pay the bandits and kidnappers to gain access to their farms until the present administration intervened with heavy military presence in the area under siege.

Security is a critical concern for Nigerian farmers, with increasing armed attacks and kidnappings posing significant risks to their lives and livelihoods.

In 2022 alone, more than 350 farmers were kidnapped or killed, leading to the

abandonment or reduction of operations in many farms.

The insecurity has also forced hundreds of farmers to drop out of supervised networks, affecting agricultural productivity and food supply Banditry is exacerbating food insecurity in the country by disrupting food availability and access. Armed banditry in states like Katsina, Sokoto, Kaduna, Benue, and Niger is hindering economic activities, leading to rising costs of food and essential commodities, compounding the challenges faced by vulnerable populations. The high level of insecurity not only affects food production but also creates barriers to food distribution, exacerbating the already dire food security situation in the country.

Marian Ejaife

ABUJA INQUIRER @ 20...

Tinubu Plans 1,000km Sokoto-Badagry Road Despite Controversy over N15tn Lagos-Calabar Coastal Highway

Despite the criticism that has trailed the 700km Lagos-Calabar coastal highway, the Bola Tinubu-led administration yesterday announced that it was planning the construction of the 1,000km Sokoto-Badagry road, to link all the geopolitical zones of the country.

Minister of Works, David Umahi, who revealed this, according to a statement by his spokesman, Uchenna Orji, said it was part of the current administration’s planned enduring network of roads that will in turn foster a more secure, safer and sustainable transportation ecosystem.

A cross-section of Nigerians had said the Lagos-Calabar coastal highway remains a bogus project that may not see the light of the day. In fact, a former presidential candidate of the Labour Party (LP), Peter Obi, recently said that the project may not be completed in the next 30 years.

Umahi spoke during his inspection visit to the km 47 axis of the Lagos-Calabar Coastal Highway project at Eleko, Lagos State, which the contractor moved to handle, due to the ongoing demolition around the km 3-4 of the highway.

Speaking during the visit, the minister, accompanied by the Federal Controller of Works, Lagos State, Olukorede Kesha and a technical

team from the ministry, revealed that he had received a directive from the president to commence the immediate design of the Sokoto- Badagry highway, which he said is a spur to the Lagos- Calabar Coastal road.

" I'm happy that Mr. President has also directed me to start the immediate design of the SokotoBadagry Highway, and that one is 1,000 kilometres . We've started the design, and I'm very sure that as soon as the Federal Executive Council (FEC) approves it, we will be starting at Sokoto side, which is going to be the zero point,” he added.

In the course of the inspection, the minister noted the need to realign the coastal highway around the axis of the Lekki Deep Sea Port at the point of km 47 by constructing a flyover bridge across the Dangote/ Hitech concrete pavement so as to align with the economic values of the coastal highway.

He stated: "We have chosen another alignment that is going to be parallel to the road that is going to the Lekki Deep Sea port at kilometre 47. And that's the end of section one of phase one.

“ And so, we are very happy with that decision. We will use a flyover to fly over the Dangote HiTech road that is coming from Lekki Deep Sea port going to Epe and joining the road that is going from Lekki Deep

Sea to Lagos being done by the state government."

He commended Hitech Construction Nigeria Limited for the quality and speed of the job and hoped that with their capacity and track records, and the political will of the president, the 700 km project would be completed within the eight years of the current administration.

He noted that the coastal highway project will connect the entire country through the spurs going to the North by both North East and North West as well as

North Central.

He said: "We are very, very excited with the quality of work they are doing, with the speed of work. It gives us the confidence that this coastal road will be constructed within the two-term tenure of Mr. President.

"We also have another spur that is going to go from Enugu-AbakalikiOgoja going to Cameroon. And so we have that spur. It's about 361 kilometres going through Otukpo to Benue, Nasarawa, and ends up at Apo in Abuja.

“We are also going to be presenting it to Mr. President. When this is done, then the coastal road, like we promised, is going to circle the entire country."

On the reported impact of the demolition exercise along the Lagos-Calabar Coastal Highway section 1, phase 1 as it affects the Landmark investment, the minister made it clear that the Landmark properties were intact.

He noted that the owner of the investment has no title to the 250 metres shoreline which is the

right of way belonging the federal government.

He said: "We are looking at the feelings of the people, and we're looking at economic value by making sure that as much as possible, we follow the coast and also follow the right of way that is legally within the right of way of the federal government.

“ This is not to say that for the interest of the nation and in line with our laws, that lands cannot be acquired in the overall interest of the public.

Pay TV Providers Should Fix Prices for All Bouquets of Services, Says Expert

Tribunal stops MultiChoice from increasing

Executive Secretary of Broadcasting Organisations of Nigeria (BON), Yemisi Bamgbose, has called on the federal government to allow pay TV providers to fix their prices based on market realities. Bamgbose stated this in a recent article made available to THISDAY.

The BON executive secretary was reacting to a recent move by the Federal Competition and Consumer Protection Commission (FCCPC) seeking to review the new price hike for DSTV and GOTv.

But a Competition and Consumer Protection Tribunal (CCPT) sitting in Abuja issued an order temporarily restraining Multi-Choice Nigeria Limited from increasing its tariffs

Emefiele Challenges Jurisdiction of Lagos Court to Hear Case

Funke

The embattled former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has challenged the jurisdiction of the Lagos high court to hear the charges filed against him by the Economic and Financial Crimes Commission (EFCC).

Counsel to Emefiele, Olalekan Ojo, argued yesterday, that the court lacks the jurisdiction to entertain the charges filed against the ex-CBN boss. Ojo urged the court to strike out counts one to four because the offences relating to abuse of office are unknown to law as required by section 36(12) of the 1999 constitution (as amended).

Emefiele had pleaded not guilty to a 26-count charge. On the first count, the former CBN governor was accused of abuse of office between 2022 and 2023, in Lagos, an offence punishable under “Section 73 of the Criminal Laws of Lagos State, 2011”.

Emefiele was also accused

of arbitrarily allocating foreign exchange in the “aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians”.

At the hearing yesterday, Emefiele’s counsel asked the court to strike out counts 8 to 26 because the court does not have the jurisdiction to try the former CBN governor. Ojo, asked the court to determine the issue pertaining to jurisdiction before proceeding with the trial.

“This calls for caution. This court is not hungry for jurisdiction. This court is a busy court. It is a court governed by the rule of law,” Emefiele’s counsel said.

“We need to determine whether this court has jurisdiction to embark on this trial. We must toe the path of legality and constitutionality to resolve this issue.”

However, counsel to the EFCC, Rotimi Oyedepo, asked the court not to defer or prevent the trial on the basis of the objection raised by the defence.

Oyedepo said the application to prevent the trial was unconstitutional and unlawful.

Meanwhile, a former Director of Information Technology at the CBN, Mr. John Ayoh, yesterday, told the Ikeja Special Offences Court presided over by Justice Rahman Oshodi, how he allegedly received the sum of $600, 000 for gratification of contract on behalf of Emefiele.

Ayoh, while being led in evidence by Oyedepo, told the court that he had spent eight years in CBN and that he received a letter from EFCC concerning two transactions which he facilitated through Emefiele.

The witness who was Head of Procurement and Support Services (PSS) Department, vested with powers to receive applications for award of contract to select successful bidders told the court how he received the alleged ‘money’.

Giving further evidence, the witness said the first leg of the transaction was at his residence in Lekki Phase 1, Lagos with an

envelope containing $400,000 while he received the second envelope containing $200,000 at the Tinubu Head Office of the Apex Bank located on Lagos Island.

Narrating how the whole process transpired, he said: "The man sent to deliver the second transactions came to my office in Lagos and I informed the governor but he said he did not want to see a third party that I should bring the envelop myself.

"I complied with the instruction and went to his office and delivered it.

And for the first transaction, "Mr. John Adeola was the one I sent my address to and he came to my house.

"He is the governor's assistant and the total money I received on his behalf was $400,000 and $200,000, respectively."

The witness further informed the court that the vendors who brought the alleged envelopes containing money were in charge of the implementation of Netapp Storage Architectural and Infrastructural Services.

DStv,

Gotv subscription rates

and cost of products and services scheduled to begin on May 1.

Bamgbose, in the article, said the move by FCCPC to review the new price hike for DSTV and GOTv would have been a welcomed development if the commission had been intervening on price matters, most especially those that had direct bearing on the livelihood of the masses, like the prices of foodstuff that had skyrocketed.

According to Bamgbose, “If the mandate of FCCPC includes price control of goods and services in a free and deregulated economy, where was the organisation when bakers’ association in the country increased the cost of a loaf of bread more than 200 per cent in the last one year. Bread is an essential commodity.

“What took away the mandate of FCCPC to review the cost of the most staple food of the common man, which Nigerians can no longer afford?

“I doubt if FCCPC was aware that a sachet of ‘pure water’ has been increased from N5 to N20 in the last one year. Is the organisation on vacation?

“Perhaps, the organisation was on leave when bottling companies in the country astronomically increased the cost of malt and other soft drinks. I was surprised that FCCPC didn't call stakeholders meeting to review the new prices.

“Perhaps, the cost of a bag of cement has not been increased from N4,000 in the last one year. That must be the reason why FCCPC did not deem it fit to invite Dangote, Bua and Lafarge cement manufacturers with relevant stakeholders to discuss

the more than 100 per cent increase on a bag of cement.

“Aviation sector, on a daily basis, increases the cost of domestic flights. This also has not attracted the attention of FCCPC.

“In the education sector, I was wondering why FCCPC could not call for the review of the cost being charged by private educational institutions, especially those charging in dollars in a country where naira is the legal tender.”

Bamgbose further said, “I will want to assume that FCCPC does not know what goes into the business of broadcasting, perhaps, that could inform the decision of the agency to plan the proposed review of the increase in the price of DSTV and GOTv pay TV channels, respectively.”

Declaring that he who wears the shoe knows where it pinches, Bamgbose stated, “I will not blame FCCPC for inadequate information about the challenges confronting players in the broadcast sector, more so that media practitioners are saddled with the responsibility of dancing the dance of other people and also mandated to carry loads of others on their heads while leaving their own luggage unattended.” Bamgbose added that there were free to air stations and other stations where viewers paid to watch and listen. On the cost of running a broadcast station, Bamgbose said the cost of diesel rose from N200 per litre in 2021 to N1,700 per litre in 2023/24, and broadcast stations had to transmit for 24 hours changing from one generator to the other.

Emmanuel Addeh in Abuja

Olaode

Emma Okonji in Lagos and Alex Enumah in Abuja

Publisher of The Abuja Inquirer, Dan Akpovwa (left), with Deputy Managing Director of ARISE NEWS, Mr. Emmanuel Efeni, during his visit to the Abuja Inquirer suite of offices in Abuja... recently

Mbah on CondolenCe Visit to niMbo CoMMunity...

Speculators Worsen Petrol Scarcity Nationwide, Amid Fears of Price Adjustment

Desperate motorists spend nights at Abuja, Lagos, Kaduna filling stations Situation critical in Ilorin, PMS sells for N2,000 per litre NNPC, marketers allegedly disagree on price adjustment NNPCL: Available products exceeding 1.5bn litres, to last next 30 days

Says some filling stations exploiting past supply hiccup for unwarranted gain

emmanuel addeh in Abuja, Peter uzoho in Lagos, hammed shittu in Ilorin, John shiklam in Kaduna and blessing ibunge in Port Harcourt

The current petrol scarcity in Abuja, Lagos, Ilorin, Kaduna and several other states in Nigeria worsened yesterday, with motorists keeping vigil at the few filling stations that were open for business in most of the cities.

The development which commenced from Abuja and nearby northern states has now spread to other cities and towns across the country.

There were speculations that the situation was caused by a disagreement between the Nigerian National Petroleum Company Limited (NNPCL) and downstream players on price increment.

THISDAY gathered that petroleum products marketers were demanding for an upward pump price adjustment following the appreciation of the naira exchange rate against the

dollar, a demand the NNPC allegedly objected to.

When contacted for reactions on the development, the Chief Corporate Communications Officer (CCCO) of NNPCL, Mr. Olufemi Soneye, told THISDAY in a text response that while the company was doing its best to ensure seamless supply into the market, some filling stations might be exploiting the recent supply hiccup for unwarranted gain.

THISDAY checks at the Wuse Zone 1, FCT, motorists were seen sleeping in their cars, as a number of the filling stations, including the NNPC Mega Station and the AP filling stations opposite it, were closed.

However, when the facilities opened, some of the fuel queues had extended over one kilometre, with drivers who could not wait in the lines for as long as five hours buying 10 litres of petrol at the black market rate of N12,000.

A number of the filling stations in Wuse 3, remained shut as the petrol supply crisis which began a

few days ago, took a turn for the worse, distorting social and economic life in Abuja and environs and many other states.

Aside Abuja, Nasarawa, Niger, and other states close to the federal capital were affected by the petrol supply challenge, leaving many commuters stranded.

Motorists besieged the few filling stations, including NNPC, resulting in long queues on Obasanjo Way, Zone 1, Conoil, as well as Total filling stations opposite the NNPC headquarters in Abuja.

It was the same story at NNPC, Mabushi, Zuba, Niger State at AYM Shafa, NNPC outlet on Arab Road, Kubwa, Nyanya, Nasarawa State, among others. The situation was the same at stations owned by AA Rano, Mobil, NIPCO, and Ardova Plc.

While the NNPC Mega Station still sold petrol for N617 per litre, Eterna, in Wuse 2, for instance, dispensed at N695 as of Sunday morning, even as roadside black marketers were seen making brisk business.

NMDPRA monitors retail outlets to enforce compliance

The petrol scarcity also worsened in Ilorin and other parts of Kwara State. Residents of the state had been experiencing fuel scarcity for almost five days without an end in sight.

Already, a litre of petrol sold between N750 and N2,000 in the state, depending on location, THISDAY observed. The development led to rise in Okada fares across the state.

It was further learnt that in Kwara North senatorial district of the state, a litre of PMS sold between N2,000 and N2,500, with this seriously affecting the socio-economic life of people in the area.

Speaking on the development, the chairman of IPMAN in Kwara State, Abdulateef Abdulrauf, said, "We are not hoarding fuel and we appeal to the members of the public to bear with us for now since it is a temporary situation and by next month, things will return to normal situation."

Also speaking on the matter, former Chairman of the Nigerian Electricity Regulatory Commission

Navy Rescues 250 in Rivers Boat Mishap

Over 250 persons, including children were rescued by the Nigerian Navy Ship Pathfinder (NNS) in a boat mishap, that occurred along Buguma waterways in Asari-Toru Local Government Area of Rivers State.

This was as the Peoples Democratic Party Governors’ Forum (PDP-GF), has extended its sympathy to Governor Siminalayi Fubara, and the people of the state for the loss of lives and properties from the April 27 carnage that killed several commuters on the East West Road along the IndoramaPetrochemical-Aleto.

THISDAY gathered that the cargo

boat, MV Precious Emmanuel, conveying goods worth millions of Naira from Sangana in Brass Local Government Area of Bayelsa State, to Nembe jetty in Port Harcourt, capsized around 10:30pm Sunday, after hitting a wreck. It was also gathered that the cargo boat conveyed goods such as baskets of smoked fish, crayfish, bunches of plantains, and numerous crates of alcoholic beverages, others.

Speaking, the Commander of NNS Pathfinder, Commodore Desmond Igbo, said no casualty was recorded due to the quick response of operatives of the Nigerian Navy. Igbo emphasised the need for boat operators and water travellers to adhere to safety measures, particularly by putting on life vests.

"Immediately the incident happened, our men were deployed for search and rescue. To the glory of God and to the quick response of our men, no casualty was recorded and non of them was even injured.

"Apart from fighting against oil thieves and maritime crimes, we (Navy) also protect lives, as part of our mandate. As you can see, none of them onboard that boat wore live jackets, and we have been hammering on safety that everyone transiting from one point to another on water must wear a live jackets.

"Recall that we launched the emergency rescue at sea, and it is pertinent to tell you that the NNS Pathfinder has documented a procedure to establish an Emergency

Maritime Unit in the state. We want the government to come in an establish a full-fledged rescue unit at sea," he added.

Meanwhile, Director-General of the PDP Governors’ Forum, Dr. Emmanuel Agbo, in a statement said the governors were saddened by the painful loss, impacting not only the government and the people of Rivers State but also the entire country.

"Our heartfelt condolences go to the families of victims, who lost their beloved ones, even those yet to be identified, as we pray that all survivors who sustained various levels of injuries and material losses would have a speedy recovery and due compensation, respectively, from the trauma.

(NERC) and Arise Television analyst, Dr. Sam Amadi, said if the problem had been resolved it should not take this long to get back to normalcy.

Amadi said, “Even my driver spent almost the whole night at the filling station. The queue was so long, he couldn’t get fuel. This morning, we had to queue and it took about four hours. I walked round when I was doing my exercise and the stations were locked.

“Just look at the economic cost and social distortion. And what makes this even more pathetic is that this is not the era of rigid regulation of fuel price. So, you can’t say we are buying at N185 to N200. Now, it has gone to N600, N700, N800 and even N900.”

Also, in many filling stations across Lagos, motorists were subjected to many hours of long wait on queues either with their vehicles or Jerry cans without hope of getting the product.

THISDAY visited some filling stations at Maryland, along the Bank Anthony Way, Ikeja and observed that all the outlets were not open to customers as they had no product to sell, including the popular Northwest Filling station on that axis.

It was similar experience at Gbagada, along the Third Mainland Bridge, as all the filling stations there were not selling petrol.

The scarcity was also witnessed at Ikoyi, where only the NNPC mega filling station on Awolowo Road was selling to only customers that came with Jerrycans.

A commuter, who simply introduced herself as Bosede, told THISDAY that attendants at the NNPC mega station on Awolowo Road Ikoyi, were not selling to customers that came with vehicles.

She also alleged that the pump attendants were collecting N2000 from customers with Jerrycans before selling to them.

Similarly, across Ikeja Along, Airport Road, Inside Ajao, Oshodi Road, Ikotun, Ejigbo and Jakande, no filling station was selling petrol.

Also, at Igando, Isheri, Idimu Egbeda and Inyana Ipaja, all in Alimosho Local Government area of Lagos, most of the filling stations were shut as they had no product to sell.

According to one Mr. Tony, who lives at Igando, only NNPC was selling with long queues.

"Other filling stations are not selling, they said they don't have petrol. The few ones that have are selling at high prices", he said.

He revealed that apart from Lagos, no filling station was selling the product from Ore town in Ondo State, all the way to Ijebu-Ode, Shagamu Interchange down to Berger, aside one NNPC station.

For Mr. Chibuike Nnorom, a commercial motorcyclist popularly known as Okada rider, there was no fuel at the entire Ago-Okota-axis in Isolo.

It was the same scenario at some of the filling stations on Cele-Express such as Rainoil, Conoil, Petrocam and Emaded. No of them had petrol as at when THISDAY visited.

However, throughout Surulere and neighbouring cities, residents lamented the difficulty in getting petrol around the area.

In Kaduna, most filling stations in the metropolis were empty amid booming black markets, selling the product in jerrycans by road sides. Few filling stations that had the product sold between N900, N1000 and N1200 per litre while in the black market, the product sold for between N1,400 and N1,500 per litre.

A 4 litre jerrycan by the road side, sold at between N4,500 and N6,000 depending on the location.

It was gathered that some of filling stations now sell fuel at night, mostly to black marketers.

Commuters were stranded as only few buses and tricycle operators, popularly called "Keke" were seen operating and charging high transport fares.

Governor of Enugu State, Dr. Peter Mbah (left), consoles women widowed by the Sunday attack by gunmen that led to the death of four in Nimbo community in Uzo Uwani LGA of Enugu during a firsthand assessment and condolence to the community... yesterday

Chuks okocha in Abuja and blessing ibunge in Port Harcourt

AccElErAtEd digitAl trAnSfOrmAtiOn Summit...

L-R: Mr. Elfagid Aregahegne, Chief Executive Officer, Mastercard Ethiopia; Mr. Tariq Malik, Chief Executive Officer, Extensia

Dr.

Innovation and Technology Ethiopia at the just concluded Accelerated Digital Transformation Summit in Addis-Ababa, Ethiopia ... recently.

Labour Demands First Line Charge for Worker's Pay Package Ahead of May Day

Onyebuchi Ezigbo in

Ahead of this year's International Workers Day, the organised labour has tasked the various governments in the country to ensure that worker's welfare was treated as first in their priority ladder.

Speaking at the Pre-May Day Lecture held in Abuja, President of

the Trade Union Congress (TUC), Comrade Festus Osifo, said there was the need to put the welfare and interest of the people first in driving any government policy. Osifo, who was represented by the Deputy president of TUC, Comrade Eitm Okon, said the theme of the 2024 May Day celebration, "Workers First" was significant because there

Gombe Gov Swears in New LG Bosses

Gombe State Governor, Alhaji Muhammadu Inuwa Yahaya,has sworn-in the 11 new local government councils chairpersons at a ceremony yesterday at the Government House, Gombe.

The swearing-in ceremony followed the declaration of winners in the election held on Saturday, April 27, 2024, with the ruling All Progressives Congress (APC) securing victory in all 11 chairmanship and 114 councillorship seats contested.

Yahaya said the election that produced the new leadership of the local governments was in line with the provisions of Section 79, sub-sections (3) and (4) of the Gombe State Independent Electoral Commission (GOSIEC) and Electoral (Amendment) Law 2011.

He explained that the successful conduct of the election across the state reflected his administration's

commitment to advancing democratic principles at the state level, guaranteeing citizens the chance to elect their leaders in conformity with the law.

"Today’s event marks a significant milestone in our democratic journey, thus reaffirming our commitment to the principles of good governance and participatory democracy.

“The local government election where the citizens got the chance to elect their leaders even at the lower level of governance in conformity with the law, demonstrated the commitment of this administration to advancing democracy," the Governor said.

He charged the new LG helmsmen to approach their new responsibilities with fear of God, honesty and accountability, further urging them to bear great responsibility in promoting the wellbeing, peace and prosperity of the common man through responsive leadership.

was a need to put the people first, and to put the workers first in a very government policy.

"Today marks another turning point in history of trade union movement in this country. When we look at the theme of the 2024 Worker’s Day celebration, which is People First, that

is very significant because we need to put the people first, we need to put the workers first and when you put the people first, you put your family first. This is what is called first line charge.

"Today, we have experienced various policy mismatch and sum-

mersaults where the people's welfare are put at the bottom of the radar,” citing for instance, the increase in electricity tariff. "A case in point was the increase in electricity tariff without following due process and without consultation with various stakeholders who would have been

involved taking critical decisions that affects the lives of workers," he said. The TUC president said labour played a very critical role in every productive venture, adding that to neglect the workers was to ignore the significant role such an important arm of production plays.

Fubara: Rivers State to Soon Deploy AI to Drive Development, Tackle Political Crisis

Blessing ibunge in Port Harcourt

Rivers State Governor, Mr Siminalayi Fubara, has disclosed his administration's readiness to leverage on the Artificial Intelligence (AI) to tackle political crisis and drive development in the state.

According to the governor, deploy- ment of AI will significantly enhance operational efficiency and transform citizen experiences.

He said that it was now impera- tive for policy makers to draw up futuristic plans that could strengthen governance when implemented while also protecting the interest of theFubarapeople. made the assertion yesterday, when participants of the Executive Intelligence Management Course (EIMC-17 Syndicate 5) of the National Institute for Security Studies (NISS) paid him a courtesy visit at Government House in Port Harcourt.

The governor stated that the advanced societies were accelerating the use of AI because it enabled a faster data-driven decision-making

process and allowed administrations to make more informed choices that are based on accurate and real-time insights."Today, we are moving from the aspect of physical battle to intellectual battle and Artificial Intelligence is the right model to use to fight crime.

Ganduje stated, "The president, from his extensive policies, is taking Nigeria to the next level, but we need to bear with him because what we are seeing is an accumulation of so many years of neglect, policy summersaults and other disjointed decisions by previous administrations."

He told the PwD leaders, "We have to commend you for being here with us to pass vote of confidence on our leadership. It shows your commitment and your love for the party.

"What we need to change the living standard of your members is skill acquisition in relation to the

NUPRC Beg INS F R e SH O I l FI el DS B ID R OUND , O FF e RS 17 BlOC k S FOR S A le be ‘fit and proper’ persons in the eyes of the law. Clear evidence of the resolutions of legacy debts and legal encumbrances must be established and appropriate mechanisms to manage residuals agreed upon,” Komolafe said of the legal requirements.

As for decommissioning & abandonment (D&A) , the NUPRC boss observed that the applicable D&A costs must be diligently assessed and parties must ensure settlement of outstanding obligations.

The commission, he said, will ensure that potential exposure of the Nigerian government to decommissioning liabilities is averted.

Relating to host community trust/environmental remediation fund, Komolafe pointed out that the commission shall assess the status of Host Community Trust Fund (HCDF) obligations and ensure the robustness of the successor entity’s adherence to decarbonisation plans and sound Environmental Social & Governance (ESG) principles.

“The commission shall implement a robust assessment mechanism

to avert undesirable labour union issues and disharmony arising from the divestment process. Concerned parties shall endorse a ‘Certificate of Settlement’ to validate alignments reached on all labour issues (staff welfare, benefits, entitlements as well as disengagement, redundancies, retirement etc.),” he added.

The aim, he said, is to ensure the nation averts socioeconomic disruptions arising from failure to resolve labour issues that might result because of post-divestment. Besides, he stressed that the commission shall ensure that all data mined during the operating life of the asset are repatriated to the National Data Repository (NDR) in line with extant regulations.

The SPDC JV assets are currently operated by the company on behalf of its JV partners namely: NNPC and Total Upstream Nigeria Limited as well as Nigeria Agip Oil Company.

The JV OMLs were originally awarded as Oil Exploration Licence -1(OEL-1) on January 1, 1949 covering the whole of southern Nigeria and Cameroon. Ultimately, the assets

were converted to OMLs on April 1, 1962 and subsequently renewed in 2014 and 2018 for 20 years.

To date, the assets have achieved a cumulative production of 5.35 billion barrels of crude oil, 165. 57 million barrels of condensate, 9.51 trillion cubic feet of associated gas and 3.75 trillion cubic feet of non-associated gas, contributing immensely to the achievement of Nigeria’s crude and condensate output.

The assets being considered have an estimated total reserve of 4.96 billion barrels of oil, 1.77 billion barrels of condensate, 28.16 trillion cubic feet of associated gas and 28.11 trillion cubic feet of nonassociated gas.

Additionally, the assets hold P3 (possible) reserves estimated at 2.85 billion barrels of oil, 850.85 million barrels of condensate, 11.3 trillion cubic feet of associated gas and 12.26 trillion cubic feet of non-associated gas.

“Let me emphasise that the NUPRC wholeheartedly welcomes investment in the Nigerian upstream petroleum sector. We recognise the

critical role investment plays in driving innovation, creating employment opportunities, and ultimately fuelling economic prosperity for our nation and its people.

“Therefore, we are always eager to welcome local and international investors who choose to invest in the Nigerian upstream petroleum sector. We are fully committed to facilitating and supporting investment initiatives that align with our national development goals.

“However, we emphasise that cooperation with the investment process is essential. I urge SPDC and Renaissance to engage proactively, adhere to regulatory requirements, and work collaboratively with the NUPRC to ensure the successful conclusion of the Shell Divestment.

“Today's workshop provides us with a platform to engage in constructive dialogue, share insights, and collaboratively assess the capabilities of Renaissance.

“As regulators, we will ensure that this evaluation is conducted with precision and impartiality, with a focus on transparency and

"As a state, we did not hesitate to accept your invitation because we want to tap into it. We want to be part of this success, knowing full well that your success will also rub off on our State."

Earlier, the Head of the delegation of the participants of the Executive

type of challenge that you have. It will not be a universal skill acquisition. It will be a specific skill acquisition prescribed for the type of challenge for your members.

"Some (PWDs) can use their voice and some can use their legs, and some can even use signals. So we are fully aware of the challenges and we are here to solve the challenges.”

APC National Leader, Tolu Bankole, declared the support of PWDs for the party’s National Working Committee (NWC) led by Ganduje. He said the cornerstone of this cooperation must be the active

accountability,” Komolafe stressed.

In an interview on the sidelines of the event, Komolafe listed the two leading consultants that had been approved to work with the commission as S&P Global, which he said has conducted similar exercises in other jurisdictions as well as Boston Consulting Group (BCG).

Also speaking, the General Manager, SPDC Assets and Deputy Managing Director, Wessel de Haas, stated that the workshop will be used to provide the necessary clarifications to make sure that the regulator can complete its due diligence process.

Earlier, the Executive Secretary of NEITI, Dr Ogbonnaya Orji, at the inaugural quarterly briefing, said the event was meant to get the invited policy makers to provide update or status report on the implementation of NEITI report recommendations as it concerns the agency.

He stated that this is with a view to deepen not just government oversight and reforms in the extractive sector, but make it inclusive of all stakeholders.

Intelligence Management Course (EIMC) 17, Syndicate 5) of the National Institute for Security Studies (NISS), Didacus Egbeji, said officers at the rank of not less than Deputy Directors were in the state for a weeklong study tour as part of requirements of their 10- month course at the institute.

participation of persons with disabilities in their full diversity, and their full inclusion in all decision-making processes.

Kano High Court Fixes May 16 to Decide on Charge Service Through Substituted Means

A Kano High Court fixed May 16, 2024 to rule on whether criminal charges could be served on the national chairman of All Progressives Congress (APC), Dr. Abdullahi Ganduje, his wife, Hafsat Ganduje, and six others through alternative means.

After listening to arguments and counter arguments on whether the respondents could be served using alternative means, Justice Usman Na'abba, who presided over the case, fixed May 16 for his ruling on the applications.

Prosecution counsel, Adeola Adedigbe (SAN), prayed the court to allow him serve the charges through substituted means on the respondents in the case.

The counsel representing the sixth respondent, Lamash Properties Limited, Nuraini Jimoh (SAN), argued that respondents in a criminal case could not be served through substituted means.

But counsel representing the state government, Adedigbe, made reference to a Kano State law 378/5 that allowed service in criminal case to be made using substitute means.

In his counter argument, Jimoh described the Kano State law allowing such service as “ultra vires” and alien to the Nigerian constitution that restricted such action.

Na'Abba, however, said he could not take immediate decision on the matter as he had to look at the several arguments raised, and, therefore, fixed May 16 for ruling on the matter.

Abuja

Segun Awofadeji in Gombe

United Kingdom; His Excellency Dr. Belete Molla, Minister of Innovations and Technology, Ethiopia;

Bashir Gwandu, former, Executive Vice Chairman, National Agency for Science and Engineering Infrastructure (NASENI); Dr. Yeshurun Alemayehu, Minister of State Ministry of

“Strategy my friend. People underestimated Asiwaju Bola Tinubu, even within his own party. He outsmarted them all, even with the power of the tongue. Strategy is the soul of politics.”

“Okay, congratulations. Let him solve the problem of electricity, fuel supply, foreign exchange and the hunger in the land. Soon, it will be May 29, one year since he assumed office. Enough of the promises of hope. I want action, results.”

“You have to be patient. You cannot expect Tinubu to fix eight years of maladministration in one year. But come to think of it, I think in a mysterious manner, Nigeria has just stumbled on a divine solution.”

“Beware of blasphemy. Leave God out of this. Our problems in Nigeria are man-made. Nobody should blame God.”

“I said divine. I didn’t mention God but you know God works through human beings. God has sent unto us one of his prophets to solve our problems.”

“And who is that?”

“Prophet Odumeje. Abidoshaker Ganduka Gandusa. Indaboski. The Liquid Metal. The man has acquired powers. He says with his powers, he brought down the value of the dollar against the Naira and the Naira appreciated. But he left town for London with his powers, the Naira lost a little value and now that he is back, he will fix the Naira.”

“What powers?”

“Citadel. Pandemic. Epidemic. Pandemonium. Sanctus Sanitorias and Burning Fire.”

“Listen to that meaningless mumbo-jumbo. And who is Abido Shaker?”

“Man of God.”

“I think he is a clown. A comedian. An entertainer. I think he should be in Nollywood, not anywhere near a pulpit. You people worship pastors, not God. You actually believe that a prophet is the solution to Nigeria’s problems?”

“When the man went to London, people rushed to the airport to receive him. They even paid to watch him perform his latest song: Powers. He attracted a large crowd. When he returned to Nigeria, he was received by a large crowd, dancing and singing his praises. The man has his own style.”

“Nigerians like entertainment and that pastor is good at making skits. I am not surprised.”

“I hear he can use his powers to ensure steady electricity supply, generate employment and place Nigeria on the path of growth. You never know with these spiritualists. Don’t you think he should be consulted by the Nigerian government? Yemi Cardoso and Wale Edun can invite him to a meeting and explore ways of how his powers can be unleashed to fix monetary and fiscal policies.”

“He should be given a stern warning to stop misleading people. One of these days he would cause a pandemonium. The person that actually shocks me is that musician called Flavour. What does he hope to gain doing a collabo with Indaboski?”

“He probably hopes to get powers that would jump-start his musical career.”

“I sympathize with him if that is the case. He doesn’t need powers to do well as an artiste. Let him go and work hard on his talent and concentrate on his craft. Can’t he see that Indaboski is using him? Nonsense.”

“His choice. This is a free country. He is responsible for his own brand and identity.

Fuel Scarcity, a bido S haker a nd o ther Storie S c

that restores investors’ confidence and boosts oil and gas production, ultimately increasing jobs, the country’s earnings, and prosperity. Whilst international commodity traders have increased their activity and funding of oil production in Nigeria, they rarely support the development of appraisal and near-production assets. Access to innovative capital structures for such capitalintensive projects, involving a more risk-reward approach will be key to developing such assets, as will the deepening of regional capital markets to bolster the capital available from institutions such as the African Export-Import Bank and planned new initiatives such as the African Energy Bank. Effectively, more “home-grown” solutions will be required.

As international oil companies shift focus to deep offshore and gas-rich assets, indigenous companies and smaller operators are stepping in to fill the void. However, accessing capital remains challenging. Innovative financing models, such as the contractor risk service model, offer a promising solution. This model, which involves contractors taking financial risks and receiving payment from production, incentivizes efficient asset development while mitigating risk for owners and operators. The contractor taking such risk, is effectively a co-financier of, and investor in, the development of the oil block – ensuring a service that would otherwise require immediate payment, to benefit from payment from oil and gas production (therein lies the contractor risk).

The success of such models hinges on the support of all stakeholders, including operators, joint venture partners, financiers, regulatory authorities, and local communities. By aligning incentives and sharing risks, these partnerships can drive sustainable development and enhance investor returns. The recent completion of the FSO ELI Akaso infrastructure project by the Century Group

And in any case, I don’t think anybody is using anybody. They are both using each other. You will be surprised that their song may end up as a bestseller on the charts.”

“What I know is that people make stupid choices in this country. Like those young men who went to protest at the EFCC Headquarters yesterday. They turned EFCC vs. Alhaji Yahaya Bello into an Ebira youths vs Igalla youths conflict. I hear the protesters were ethnic gladiators.”

“Everything in Nigeria is always ethnicized. With so much unemployment in the country, you will always find more than enough idle youths to support any cause.”

“EFCC has already staged enough drama around this case. It should not get involved in Ebira or Igalla politics. The matter is already in court. The courts will decide on the weight of evidence provided. Enough of the circus and all you television lawyers should beware of running foul of the law.”

(CG) (part of an alternative crude oil evacuation system (ACOES)), facilitated by the contractor risk service model, exemplifies the potential for collaboration to unlock value and foster growth. The ACOES is being developed as a result of the need to enhance production and supply security from oil blocks in the Eastern Niger Delta due to infractions and prolonged outages of the Nembe Creek Trunkline (historically one of Nigeria’s major oil transportation arteries evacuating up to 150,000 bopd of crude from the Niger Delta to the Atlantic coast for export). The CG model is “Made-in-Nigeria-for-Nigeria” but can be rolled out regionally (and globally too), in countries where access to capital for oil and gas developments is tough. Contractors work in a vacuum: the aim of which is to optimise oil production to ensure that their clients thrive so that they do too. However, they rarely take financial and production risk executing a “pay-as-you-go” model (often including mobilisation and other hefty prepayment-type fees), which can leave operators hanging where assets under-perform. They also get the job done without involving themselves in the issues that may affect joint venture partner relationships.

Local and international investors, including UK-listed San Leon Energy plc, World Carrier Corporation, and GT Bank plc have invested heavily in Energy Link Infrastructure Limited (ELI), the sponsor of the ACOES and owner of the FSO ELI Akaso and relevant pipeline infrastructure to develop the ACOES. With the advent of COVID and a lack of production available from anchor clients, ELI needed to look for alternative sources of capital to ensure that the FSO ELI Akaso is ready for operations. Without CG’s involvement in a contractor risk service model, the FSO would not be operationally ready and now established as a terminal for oil export. As the Akaso starts to take on barrels from various oil producers, the business should thrive. CG, as an investor by the

as a small offence. The law is the law.”

“The law must be seen to be fair to all parties concerned. This is why I support the idea of a justice sector reform. For Heaven’s sake, we can’t even maintain correctional facilities. There was a small downpour the other day in Suleja and the perimeter wall of the correctional facility gave way. Over 100 inmates escaped. Before now, there have been jail breaks in Koton Karfe in Kogi state, Benin and Oko in Edo State, Kuje in FCT, and Okitipupa in Ondo State. Every incident has been traced to the poor management of the correctional facilities.”

“But what has this got to do with justice sector reform?”

“Everything. Justice administration is a chain from law enforcement to the judicial system to the custodial centres. There is no justice if the prisons are congested, if children are kept in maximum prison facilities, if security dogs are fed with N800 per day and inmates N700 per day. There is no justice when cases are delayed and the prisons are full of awaiting trial persons.”

“I am really sorry. I don’t want to talk about the plight of prisoners. Even those of us who are not in custodial centres are in prison in real terms. This country is a big prison yard.”

“I won’t put it like that. I guess we should at least be grateful for the little opportunities we get. There is nothing like being free, and having tomorrow to look forward to. Look at one example. The Edo State Government has just increased the minimum wage in the state to N70, 000. That is good news.”

“I hear Lagos has also done the same thing.”

“No. That story has been debunked by Gbenga Omotoso, the Lagos Commissioner for Information. What Lagos has in place is a comprehensive welfare programme called Eko Cares which covers food, healthcare and transportation.”

“Lagos can in fact pay up to N100, 000 if it so decides. Afterall, the Governor’s nickname is Sanwo Eko. Let him bring out the money. Sanwo Eko, show us the money. What is money?”

“Just confess that your sister works with the Lagos State Government and you want her to earn more.”

“There is nothing wrong with that. We are in a country where you have to look out for yourself.”

“This is why we are where we are”

“That is why Africa is the way it is.”

“I understand what you are saying. The part of the story that shocks me, actually, is the fact that people spend foreign currency in this country as if it were the national currency. The Chinese supermarket that was shut down in Abuja the other day, we were told designates items in Chinese and price tags in yen, not Naira. There are many schools, real estate companies, and luxury stores that transact business in dollars only.”

“Even some government agencies collect tariffs in dollars and claim that it is because their business is international. Nigeria’s crude oil is sold in dollars for example.”

“So, how do we expect the Naira to remain stable? I think what the American International School Abuja (AISA)’s involvement in the Bello case so far is that the government must move swiftly to outlaw the use of dollars for basic transactions in the country, instead of chasing people who are spraying small change at social parties.”

“Even that is an offence. There is no such thing

application of its contractor risk service model, should also be rewarded and feted for having stood by the business at a time when access to alternative capital was proving difficult. With the success of this approach, CG is ensuring that the contractor risk service model should be considered by the industry as an alternative, proactive, and additional funding source for the development of energy projects.

Looking ahead, achieving sustainable development in Africa’s oil and gas sector demands collaborative action from all stakeholders. Local investors, operators, and contractors play a crucial role in de-risking opportunities and crafting an appealing investment narrative that attracts capital. By leveraging local expertise and fostering partnerships, these stakeholders can unlock the sector’s full potential while mitigating risks. Regulatory frameworks also play a pivotal role in shaping the investment landscape. It is imperative that these frameworks prioritize ease of doing business and uphold contract sanctity to instil confidence among investors. Additionally, addressing bottlenecks to investment and exits is critical for maintaining investor interest and sustaining growth momentum.

Addressing the need to resolve the long-standing saga and delay in the consummation of the $1.3 billion ExxonMobil sale of its 40% stake in Mobil

Producing Nigeria Unlimited (MPNU) to Seplat Nigeria Plc, the Nigerian Minister of State for Petroleum Resources, Heineken Lokpobiri said on 16th April 2024: “Now that the whole world is campaigning against investment in fossil fuel, if we close this transaction and Seplat expands their investments, Bonga North, which is predicated on that resolution, comes on board, and the whole world will know that Nigeria has become a new investment destination and that is the objective of this government.”

In charting the course for Africa’s upstream oil and gas industry, daring innovations and

“Look at South Africa. Thirty years after the end of apartheid rule, the racist masters have been replaced by a local elite which has not really done much for the poor black majority. Our leaders in Africa only want power for power’s sake. If the ANC is not careful, it may not even get up to 40% in the May 29 elections. Obsession with power and corruption have broken up the party.”

“Typically African. South Africa after Mandela.”

“Look at Togo where the people went to the polls yesterday in a parliamentary election.”

“Is that an election? Faure Gnassingbe amended the Constitution to keep him in power till 2033. There is also the chance that he will remain President for life. He has been in power since 2005, the year that he seized power as birthright. His family has been ruling Togo since 1967.”

“The opposition parties do not stand any chance in Togo.”

“The Black man is the biggest problem to himself and to others.”

strategic partnerships will be indispensable. By embracing risk and seizing opportunities, the continent can harness its energy potential to drive economic prosperity and sustainable development for generations to come. More local investors, operators and contractors (like Century Group) will need to step up to help to de-risk opportunities and ensure the investment narrative is attractive, properly articulated and understood. With traditional international financing techniques becoming more difficult to secure for oil and gas projects, the contractor risk service model is an invaluable additional tool to ensure the continuing development of energy projects.

About the Author

Constantine‘LabiOgunbiyihasbeeninvolved in the energy (including renewables), fintech, and logistics sectors as an investor, Strategic Advisor, and/or Director on several boards. He has more than twenty-five years of experience in international capital markets, private equity, acquisition, structured, trade and project finance, andpublicandprivatepartnershipsintheAfrican energy, technology, and infrastructure sectors, in particular. Labi, was a founder and Executive Director of Afren plc responsible for business development,strategy,andgrowth,leadingAfren’s negotiating team in Nigerian acquisitions and equity and debt financings (capital raising of more than $1.7 billion) between 2005 and 2009.

In 2009, he founded First Hydrocarbon Nigeria Limited (FHN), a leading indigenous upstream oilandgasexplorationandproductioncompany in Nigeria, and functioned as its Chief Executive Officer, selling the business in 2013.

Presently, he runs his family office, Phoenix Generation Limited, a direct investment and strategic investment advisory service company. HeholdsLegalQualificationsfromtheUniversities of London (King’s College), Passau (Germany), and the Oxford Institute of Legal Practice.

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri

FEEDING THE FUTURE…

L-R: Nutritionist, Funmilola ljiwola; Nigerian Culinary and Gastronomic Expert, Iquo Ukoh; Summit Convener and Founder of AugustSecrets, Toyin Onigbanjo; Co-founder of Nutrition4kidsng and Convener of MumsNTech, Omolabake Matthew; and renowned Consultant Pediatrician, Ayodele Renner, at the Nutrition Summit hosted by AugustSecrets in Lagos…recently

Worker of Benue Varsity Kidnapped by Suspected Herdsmen

Gunmen abduct Navy School student, father in Ondo

George Okoh in Makurdi and Fidelis David in akure

A staff member of the Benue State University Makurdi were on Sunday night kidnapped by suspected Fulani herdsmen along the Makurdi – Naka road. Similarly, suspected kidnappers have abducted a student of the Nigerian Navy

Secondary School in Imeri, Ose Local Government Area of Ondo State.

This came two days after the Returning Officer for the recently concluded All Progressives Congress (APC) governorship primary election in the state, Mr. Alaba Abey, was tragically assassinated by suspected gunmen.

Explosion: Ogun Seals Gas Company

Ogun State Government has sealed off Gasco Marine Limited, the company whose truck was involved in an accident that caused explosion in the Ita-Oshin area of Abeokuta North Local Government Area of the state last Saturday.

Speaking in an interview after sealing off the premises of the company located at Onijoganjogan, Abeokuta, the Senior Special Assistant to the Ogun State Governor on Environment and Chairman, Special Task Force on Environmental Matters, Hon. Farouq Akintunde, said the accident

occurred due to the negligence of the company.

He said: “Two days ago, Ogun State was in a turmoil with the news of fire incident that occurred around Ita-Oshin. We can authoritatively confirm that the truck that was involved in that fire is from this company.

“It was a sorry case because it involved loss of life and destruction of property. Our preliminary investigation shows that it is an act of negligence from the company as they did not do the needful as regards the truck.

Delta Court Slams N30m Judgment against Popular Blogger, Linda Ikeji

Sylvester Idowu in

Warri

An Effurun High Court in Delta State yesterday awarded the sum of N30 million as general damages against a popuar blogger, Linda Ikeji over her ‘libelous’ publication against a group, the Neo Black Movement (NBM) of Africa.

Justice Roli Daibo-Harriman, in her rulings, also awarded the sum of N300,000 being the cost of litigations against the Nigerian blogger.

The court further ordered Ikeji to place a publication in her blog and national dailies retracting the libelous publication complained about.

Again, Ikeji, who was a defendant in suit number: EHC/210/2021, was also restrained from making further damaging publications against the claimants and members of the NBM of Africa.

The lawsuit had the Registered Trustees of NBM of Africa, Ese Kakor, Felix Kupa and Mayor Onyebueke as the claimants.

Ikeji was dragged before the court by the NBM of Africa and three others after she had failed to honour the demanded letter of retraction and apology over the ‘libelous’ article published in her blog on October 19, 2021.

Security Operatives Nab Suspected Cultists, Kidnappers in A’Ibom

Okon Bassey in Uyo

Security operatives have arrested four persons suspected to be cultists and kidnappers in Akwa Ibom State.

One English Pump Action rifle, one short machine gun, one locally made revolver, 11 rounds of 9mm ammunition and four rounds of live cartridges were reportedly recovered from the suspects.

A statement issued yesterday by the state Police Public Relations Officer (PPRO),

ASP Timfon John, said the state Commissioner of Police, Waheed Ayilara, is committed to combating cult-related crimes in the state.

The PPRO said worried by complaints received by the Command on an interconfraternity clash between different cult groups in Eket Local Government Area and its environs, the Commissioner of Police gave a matching order to the DPO of Eket Division, SP Felix Ekpoudom, for the perpetrators to be fished out and prosecuted.

According to a source, the incident occurred Sunday at about 6.00p.m, when one of staff member identified as Mathew

Chile, in company of his wife and four of his siblings, were driving to Makurdi from Naka in his Toyota Corrola vehicle.

The source stated that all efforts to reach Chile on his phone number have proved unsuccessful and no word has been heard from him, his wife or any of his siblings who were with him as at the time of the attack.

Female Police Inspector’s Murder: 16 Suspects Arrested in Rivers

Blessing Ibunge in port Harcourt

The Rivers State Police Command has arrested 16 suspects over the murder of a female Police Inspector and a mother of four, Mrs. Christiana Erekere.

The female police officer, Erekere, who was serving in Rivers State, was allegedly stone to death by youths numbering over 40 at her duty post at Taabaa in Khana Local Government Area of the state.

THISDAY gathered that the killers were travelling from Delta State to Akwa Ibom State for a wedding programme before they allegedly committed the crime.

A source, who pleaded anonymity and claimed to have witnessed the development, said the youths, who committed the crime, were about 40 in number and that they went on rampage when the police on stop-and-search operation in the area questioned the validity of the document of one of the cars they were travelling on.

The source said the youths had created a scene on the road blocking the major road and demanding that the Deputy Superintendent of Police, who had their car paper must return it and allow them go.

According to the source, the youths had seen Mrs. Ekerefe, who was on duty, fiddling with her phone and quickly pounced on her with stones and sticks claiming that she was making video of them.

Makinde: We’ll make Oyo Modern Agribusiness Hub in Africa

Kemi Olaitan in ibadan

Oyo State governor, ‘Seyi Makinde, yesterday, reiterated his commitment to making the state a modern agribusiness hub in Sub-Saharan Africa, just as he promised to give more support to farmers

and improve infrastructure and security with a view to attracting large investments in agriculture to the state. Makinde stated this while offering opening remarks at an event themed, “Agribusiness for Food Security Initiative”, in Ibadan, noting that his

government remained resolute on bringing prosperity to the state and would continue to support youths.

The governor said in his Roadmap for Accelerated Development, that he had thought of how to take the people from poverty

to prosperity, stating that given the state’s comparative advantage of arable land, it was clear that embracing agriculture was the way to go, but it was also obvious that using the old method of farming would not produce the desired result.

EFCC Vs Bello: Ebira Youths Group Cautions FG, Senator Natasha

Ibrahim Oyewale in lokoja

Piqued by the trend of events going on between the Economic and Financial Crimes Commission (EFCC) and former Governor of Kogi State, Yahaya Bello, a group, Congress of Ebira Youths for Justice and Fairplay (CEYJF) has cautioned the federal government and the Senator representing Kogi Central, Natasha Akppti Uduaghan, to exercise restraint on what they described as political persecution by the EFCC. Addressing a press conference

at Ogaminana in Adavi Local Government Area of Kogi State yesterday, the convener of the group, Kabiru Usman, stated that the gathering was to send out words of caution to Senator Natasha Uduaghan and the federal government on the Yahaya Bello and EFCC debacle.

“This group of young men and women from the 5 local government areas of the central senatorial district are here gathered to address a matter that has a dire consequence for peacew and togetherness of Kogi State and Nigeria at large if not properly handle.

Expert: Social Media Regulation Critical to Ending Terrorism in Africa

Sunday Ehigiator in Cairo, Egypt

Egyptian columnist and media expert, Ayman Adly, has revealed that regulation of the social media space and its consistent monitoring are the right ways to defeat terrorism in African. Adly stated this during his

presentation at the ongoing 58th training session for Young African Journalists held in Cairo Egypt. According to him, “Social media, despite its advantages of ensuring social interaction, is being used to promote terrorism on the continent, hence the need for regulation to protect national security.

“Artificial Intelligence, terrorism and cyber security are threats to the development of Africa if urgent steps are not taken.

“Using social media to promote hate speech, establishment of terrorist organisations, fanning of insecurity and instability as well as political crisis are inimical to the peace and development of Africa.”

He also stressed the need for African leaders to address unemployment and poverty as they are being used as weapons for recruiting young people for extremism.

Adebutu, Osoba Unveil Construction of 350-Seater Media Resource Centre at NIJ

Oluchi

Foremost Nigerian businessmen, Sir Kesington Adebutu, yesterday, performed sod turning for the commencement of the construction of 350-seater media resource centre at the Nigerian Institute of Journalism (NIJ).

The 350 capacity media centre named after Sir Kesington Adebutu, when completed in the next four months, is expected to serve as a research and resource centre for journalism in the country.

Adebutu, who is the owner of popular lottery agency, Baba Ijebu, was represented by Kola Oyefeso, calling on those endowed with resources to give back to society.

better the lot of journalism in Nigeria.”

According to Him, “The project is going to impact positively on journalism and it’s going to improve whatever they are learning. When you call it resource centre it means a place you go for research in whatever you are doing; definitely is going to

Also, while delivering his welcome speech at the groundbreaking event in Lagos, the Chairman, NIJ Governing Council, Olusegun Osoba, said the turning of the sod for the media centre, when completed would be an added advantage to the profession of journalism in Nigeria.

Oyebanji: Ekiti Ready to Partner Private Initiatives for Growth, Devt

Gbenga Sodeinde

Ekiti State Governor, Biodun Oyebanji, has declared his administration’s readiness to support private initiatives by individuals or groups working with locals or the international community towards

lifting the state to ensure further growth and development.

The governor stated this yesterday at the Alfa Belgore Hall of Afe Babalola University, Ado Ekiti, (ABUAD) while declaring open the maiden Africa - Asia Intercontinental Universities Conference hosted by

the university.

Specifically, the governor said he was happy that ABUAD was granted the right of hosting, saying such an institution that had been playing pivotal roles in changing the face of tertiary institution in the country cannot be honoured less.

According to him, Ekiti State under him would do everything humanly possible to continue to attract collaborations and partnerships with people and institutions, including foreign countries, that share his vision and mission towards taking the state to its place of dreams.

inadoEkiti

Chibuzor

It’s Finidi Not Amuneke that Succeeds Peseiro as Super Eagles Substantive Head Coach

Duro Ikhazuagbe

After months of dilly dallying over who to succeed Portuguese Jose Peseiro as Super Eagles Head Coach, the Board of the Nigeria Football Federation (NFF) on Monday finally approved the recommendation of its Technical and Development Committee to handover the job to former winger, Finidi George.

The announcement by the NFF puts to rest speculations that had earlier pointed in the direction of another former Super Eagles Star, Emmanuel Amuneke, as the gaffer selected for the job.

George, a former Ajax and Real Betis player whose immediate responsibility on assuming the post is to fashion a winning formula against South Africa and Benin Republic in 2026 World Cup qualifiers in June, spent 20 months understudying the Portuguese as an assistant coach.

In a little over five weeks, the former Sharks and Calabar Rovers star will lead Nigeria into the mustwin encounters in Uyo (against South Africa) and Abidjan(against Benin Republic). The Super Eagles are lagging behind in third place in Group C of the African campaign behind Rwanda and South Africa.

George, 53, was in charge of Eagles after Peseiro left the post after his contract expired with the 2023 AFCON in Côte d’Ivoire.

His squad edged Ghana 2-1 in the first match, ending an 18-year winless streak against the Black Stars, but then lost 0-2 to Mali in the second game.

George, a member of the ‘Golden Generation’ that won the 1994 Africa Cup of Nations tournament in Tunisia and emerged the second most entertaining

team in Nigeria’s debut at the FIFA World Cup finals in USA the same year, won 62 caps for

He made a scoring debut for fatherland in an Africa Cup of Nations qualifying match against Burkina Faso at the National Stadium, Lagos on 27th July 1991, also featured for Calabar Rovers and Sharks FC in the domestic scene before heading to Europe. He assisted Rashidi

Yekini (of blessed memory) to score Nigeria’s first-ever FIFA World Cup goal against Bulgaria in Dallas, USA on 19th June 1994.

The Rivers State -born George won the prestigious UEFA Champions League with Ajax along with another Nigerian, Kanu Nwankwo.

Bayern Ready for 'Extraordinary' Clash Tonight, Says Tuchel

CHAMPIONS LEAGUE

Bayern Munich manager Thomas Tuchel said Monday his side were ready for the threat posed by "extraordinary" Real Madrid midfielder Jude Bellingham in their home Champions League semifinal, first leg.

Tuesday's clash between 14time winners Real and Bayern, with six Champions League titles, is the most played semifinal in the competition's history.

England midfielder Bellingham, still just 20, joined Real Madrid before the start of the season from Bundesliga side Borussia Dortmund.

Bellingham has since become one of Real's most important players and is already considered among the world's best. He is their top goal scorer in the league this season with 17 goals, despite playing mostly as a midfielder.

Tuchel said Bellingham was "a key player in a very offensive

position" for the Spanish giants.

"Jude is extraordinary. He was fantastic here in the Bundesliga, how he progressed shows the level of personality he has, it's only possible with a huge personality.

"Everyone who plays for Madrid plays with the pressure of the shirt. He plays with the pressure to play with this club and all the expectations.

"He handles it like he's never done anything else," said Tuchel. "But we are well aware of it and will try and find solutions Tuesday.”

Golf: SA Cup is to Build Friendship and Businesses, Says Consular General

The Consular General of the South African High Commission in Nigeria, Professor Bobby Moroe, has said that the South African Cup Golf Tournament concluded last Sunday at Ikoyi Club 1938 will bond businesses from both the host and the Rainbow Nation better.

According to him: “this event is to foster good relationships among the top businessmen from South Africa and Nigeria. Since the maiden event held last year, we have had good feedback, and we intend to keep it as part of the South African Week going forward.”

The event was also organised to celebrate 30 years of freedom and democracy in South Africa and an unbroken diplomatic relationship with Nigeria.

Ninety-three amateur golfers took part in the one-day Stableford tournament at the golf section of Ikoyi Club, with Ashish Gajjar and Ambassador Pauline Onafowokan stealing the show in both male and female categories. Gajjar, returned 41 Stableford points to top the men’s order, while Onafowokan blazed through her round with 37 points.

Tolu Adesemowo, the Chief Executive of Crossflex International, said that the event has been proposed and managed to foster the business relationship between the two continental giants.

“The two countries have more ties that bind them than any African countries, and this event was set up to see ways of strengthening the ties through the game of golf. It has been a success from the start and that is why all parties are looking forward to the event and taking the impact of the event further from the golf course.”

Vice-Captain of the Golf Section, Babatunde Oni, on his part, said it has been an honour playing host to

the strategic diplomatic event and he believes the golfers and businesses across the countries are better for it.

“This event helps Nigeria and South African businessmen represented here to align better and as a representative of the present execute members of the club, it is our job to provide the atmosphere needed to achieve this. On behalf of the captain, I say this event will continue to receive our support.”

Other winners at the event include Prakash Keswani, who won the surprise 30th position prize at the event.

Linda Obieze and Funmi Omo returned 36 and 34 Stableford points to pick the second and third spots in the women’s class while Uyi Osemwenge and Olubanwo Latilo posted 40 and 39 too to emerge the men’s second and third place winners.

Sports Minister Visits News Central TV, Explores Future Partnership

Emma Okonji

The Minister of Sports Development, Senator John Owan Enoh, recently visited the headquarters of News Central Television in Lagos, as part of his commitment to fostering partnership and development in the sports sector with private and public stakeholders.

The Minister was accompanied by the Special Adviser on Strategy, Mr. Orok Effangha, Special Adviser and Consultant, Mr. Kenneth Egbas, and the Special Adviser on Media, Diana Mary Nsan.

The delegation was received by the Managing Director and Editorin-Chief of News Central Television, Mr. Kayode Akintemi, alongside senior executive members.

Akintemi, commended the Minister for his continuous support and implementation of initiatives in sports development.

He also noted News Central’s commitment to partnership and collaboration with Nigerians in the diaspora for significant development and growth across various sectors in line with the station’s overarching goal of promoting developmental journalism.

The Minister appreciated the News Central Team for their efforts in fostering journalism and positive engagement. He emphasised the leadership of President Bola Ahmed Tinubu for his ingenuity in creating the Ministry of Sports Development and expressed his gratitude for being the pioneering

Minister of the nascent Ministry. Commenting on News Central’s activities and collaboration with Nigerians in the diaspora, the Minister commended the station and remarked on the necessity of looking beyond remittances from citizens in the diaspora to retain talent and promote patriotism. He observed the mass exodus of athletes from the nation and the need to look out for ways to encourage participation among young athletes.

Amidst the backdrop of fervent sporting fervour, Senator Enoh seized the opportunity to reinforce the government's unwavering commitment to promoting sports and physical activity as integral components of national development and societal well-being.

Nigeria, including featuring at the 1994 and 1998 FIFA World Cup finals. He also won gold,

silver and bronze medals from the 1992, 1994, 2000 and 2002 AFCON tournaments.

Newly appointed Super Eagles Head Coach, Finidi George (right) and Nigerian international, Victor Osimhen during Finidi’s earlier stint as assistant coach to formerly Portuguese gaffer, Jose Peseiro...at AFCON 2023 in Côte d’Ivoire

L-R: Consular General, South Africa High Commssion, Prof. Bobby Moroe; Ashish Gajjar, Winner (Men), South Africa Cup 2024; Norden Thurston, Head of Marketing, Seven-Up Bottling Company, Tolu Adesemowo of Crossflex Int'l and Bayo Alli, MD/CEO Guiness Nigeria Plc

Minister of Sports Development, Senator John Owan Enoh (left) and Managing Director, News Central TV, Kayode Akintemi, during the Minister’s official visit to News Central TV in Lagos…recently PHOTO:

Adolphus Wabara to APC

“The BoT will never allow the APC use some characters in the PDP to turn this beautiful and sweet nation into a one party state. The BoT did it (reconciliation) once and shall do it again, no matter whose ox is gored” --Chairman,BoardofTrustees(BoT)ofPeoplesDemocratic Party(PDP),SenatorAdolphusWabara,accusestherulingAllProgressivesCongress(APC)of using‘self-servingcharacters’inthePDPtoachieveitsonepartystateagenda.

TUESDAY WITH REUBEN ABATI

Fuel Scarcity, Abidoshaker And Other Stories

“How are you coping with this fuel scarcity? Fuel queues everywhere. Even the bus stops are crowded. People waiting for buses that also do not have fuel.”

“What I don’t understand is why every administration since 1999, marking the return to civilian rule, has had to deal with exactly the same problems: fuel scarcity, a big debt burden, lack of electricity supply, unemployment, big corruption, terrorism and banditry. Sometimes, I take a look at this democracy and I am like: what really have we gained putting civilians in power?”

“The worst civilian government is better than the best military government.”

“I hear that all the time, yes. But why are we not making progress? Can you believe that one of my brothers had to contact me to ask if I could help get fuel. How am I supposed to do that from Lagos, when I am also looking for fuel.”

“Don’t worry when the Dangote refinery starts producing PMS and the Warri refinery kicks off, everything will be fine.”

“I have been hearing that for about a year. Were we not also told that the Port Harcourt Refinery has been mechanically completed? A mechanical refinery that has refused to produce petrol. We don’t need mechanical stories we want fuel at the filling stations”

“President Tinubu has advised us to be patient. At the Special Meeting of the World Economic

bankruptcy.”

“I watched the video. He spoke well, ex tempore. He keeps doing a good job of marketing the country and selling the country as an important destination for Foreign Direct Investment. Good outing overall. You know City Boy is a show man. He met with the Dutch Prime Minister, Bill Gates, Chairman of shipping giant AP Moeller-Maersk, CEO of Samsung. But he didn’t tell the full story”

“Which full story do you want him to tell the international community? Which story?”

“He should have been honest enough to tell the business community that Nigeria under his watch is still a work in progress. Electricity supply is epileptic. Diesel is expensive. The cost of business is so high many businesses are leaving the country, the latest being PZ Cussons which has been in West Africa for more than 140 years. Even the businesses that are still in the country are raising prices. Multichoice has increased its subscription rates, effective May 1. The Telecom companies have also served notice that call rates will go up…”

“Market forces. Companies are doing business not charity. They have to make ends meet. For a business to be profitable, the Return on Investment (ROI) must be higher than the Cost of Investment.

If you can’t afford to pay for Multichoice Premium, the same company offers you other options. If the Telcos increase their call rates, you simply talk less and reduce the number of calls you make.”

“But are you aware that one court has barred MultiChoice from increasing its subscription rates?

And I guess the same thing will happen to the telcos. And if they cannot make ends meet, some of these companies will also close shop.”

“Just hearing that from you.”

“That is why I am talking about honesty. You are asking me to adjust and adapt. President Tinubu should have told his audience that back home IPMAN has announced that this fuel scarcity will linger for two weeks, further making life difficult for businesses and persons.”

“IPMAN talked about fuel scarcity and supply chain problems. The Independent Petroleum Marketers did not say there will be fuel queues for two weeks.”

“What is the difference?”

“So, what do you expect President Tinubu to do? To promise potential investors an enabling environment and then at the same time, de-market his own country? Trust is the biggest element in international trade. President Tinubu only needs potential investors to trust him. Or do you want him to behave like President Buhari who used to go abroad to tell people that Nigerian youths are lazy, or that a woman’s place belongs in the other room? Sorry, Tinubu is much smarter.”

“But why was he behaving like that during the campaigns making it look like he could not complete his sentences and had to be assisted to complete ordinary tasks like climbing the stairs. The same man is now energetic and bouncing, prancing, with energy and panache.”

Charting The Course - Who Dares, Wins!

The African continent stands at a pivotal juncture in the global energy sector, with abundant oil and gas reserves offering immense potential for economic growth.

However, while the continent holds significant promise, navigating the upstream oil and gas sector in Africa comes with a plethora of risks and potential setbacks that demand careful consideration and strategic planning. This is against a backdrop of cutbacks in international capital for carbon-intensive oil and gas developments and increasing competition for the same sources of capital. Innovative financing solutions are thus required to fill the void, but can only be truly successful if tailored to specific needs and adopted and respected by all stakeholders.

Nigeria, Africa’s largest oil producer, epitomizes the complexities and opportunities within the continent’s energy sector. Over the past decade, the Nigerian oil and gas industry has grappled with insecurity, asset vandalism, and community unrest, leading to a decline in investment. This coupled with the need for the sanctity of contracts and a properly structured fiscal framework has seen investment in the sector decline to about US$5 billion per annum from highs of about US$22 billion per annum in 2012.

Nigeria has an abundance of unexploited

investment during this transition era (which has also seen crude oil prices rebound) to take full advantage of this, thus retaining the value of crude oil and gas resources to enable it to position itself for its energy transition (towards net zero) agenda. A just energy transition, the paradigm that gained impetus at the December 2023 COP28 Conference, is intended to decelerate financing fossil fuel developments while supporting those most vulnerable to the impacts of climate change when facilitating the transition to clean energy. This is not simply a tweak to existing systems; it is a fundamental transformation towards a cleaner, more sustainable future. This shift is driven by environmental concerns, the changing balance of power on the global stage, and awareness that the energy-producing nations in the Global South (which produce only a fraction of global emissions) should be given a chance to “catch up” industrially, technological advancement as consumer demands. It is estimated that the country needs about US$25 billion of annual investment in the next 10 years to achieve crude oil output of three to four million barrels per day and 3 bcf per day of gas production for domestic consumption (an ambition). A lack of available infrastructure, whether because of existing compromised infrastructure through age

or sabotage or simply a lack of new investment, and competition for capital regionally, poses challenges that will need to be overcome to achieve this. Inadequate infrastructure impedes the development and operation of oil and gas projects in Africa, increases project costs, delays timelines, and heightens operational risks.

The new Government has declared that it is “open for business” and will take urgent steps towards solving the fiscal, regulatory, security, and other issues discouraging investment and operations in the nation’s petroleum sector - something that is urgently required to help to push its oil and gas production to the ambitious levels being targeted.

The mechanisms are in place - the Petroleum Industry Act (PIA) has done a lot to bring an enabling framework to the industry, including by allowing the Nigerian National Petroleum Corporation (NNPC) and its subsidiaries to raise capital on their own balance sheets, whether by divestitures or development partnerships on their blocks (including risk service contracts, financial and technical service agreements and the likes), crude forward sales, debt or equity capital raisings, etc. Still, there is a need to focus more on implementing the PIA in a manner

Forum in Riyadh, Saudi Arabia, he told his audience that his government had to remove fuel subsidy and manage the foreign exchange market to prevent the country from slipping into

discovered natural gas (as well as significant prospective gas resources), now heralded as a “clean” transition fuel amidst global energy shifts. Nigeria should seek to attract significant

President Bola Tinubu

Minister of Finance, Wale Edun