MONDAY 9TH MAY 2022

Oil Marketers Raise the Alarm, Accuse Airline Operators of Trying to Force Subsidy on Aviation Fuel Wonder why only local airlines are complaining about rising ATK price, scarcity AON halts plan to suspend flight operations Chinedu Eze, Peter Uzoho in Lagos, Udora Orizu and Kasim Sumaina in Abuja

Some petroleum products marketers have warned that the pressure being mounted by local airline operators on the federal

government to begin arbitrary control of the price of Aviation Turbine Kerosene (ATK), commonly known as aviation fuel, was to

force government to introduce subsidy payment on the product.

The allegation came as Nigerian airlines once again demonstrated

inability to work together in pursuit of common goals, as they pulled out of an earlier agreement to ground their flights from today

Long Fuel Queues Return in Abuja, Environs...

to protest increase in the price of aviation fuel, also known as Jet A1.

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In Broad Daylight, Terrorists Kill 63 in Zamfara Communities, Buhari Directs Military to Sustain Offensive against Criminals... Page 6

Yakassai: APC Duty Bound to Ensure Power Shifts to South Chuks Okocha in Abuja Elder statesman and former National Assembly Adviser to former President Shehu Shagari, Tanko Yakassai, has said the “All Progressives Congress (APC) is

duty bound to ensure that power shifts to the south."

He also accused those he described as 'cabals' in the presidency of masterminding politicians from the southern part of the country in the APC

to contest for the presidential ticket of the party.

The purpose, Yakassai said was to break the solidarity of the south for a southern presidential candidate of the party in the 2023 general elections.

He also accused the Arewa Consultative Forum (ACF) of supporting the motifs of the cabals in the presidency.

According to the 97 years old politician, "we know it that all these presidential aspirants of the

APC from the south are being encouraged by some cabals in the presidency for the purpose of breaking the clamour for a southern presidential candidate from the APC. "The cabals are doing it to break

the ranks of the southern part of the country that are clamouring for a power shift," the former aide to President Shagari said.

He described the support of the Continued on page 5

2023: African Leaders Pressure Buhari for AfDB President, Adesina

In apparent double standard, activists, Akeredolu, PDP, Tambuwal, Ezekwesili, others keep mum as Adesina fails to resign after his proxies purchased forms for him Action Alliance, group fault calls for Emefiele's sack Insist CBN governor has not breached any law See story on page 5 PRESIDENTIAL INTERVIEW SERIES IV

OBI

"Why Nigeria is qualified as failed state" ȱ ȱšŨȮŢš

NEW SAI OF ADAMAWA...

The Turbaning of the new Sai of Adamawa, Comrade Mustapha Salihu, National Vice Chairman, North-east APC. The ceremony brought Amaechi, Asiwaju, Fayemi el-Rufai and other governors together in Yola...yesterday

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Long Fuel Queues Return in Abuja, Environs Emmanuel Addeh in Abuja After weeks of respite, following more than three months of punishing petrol scarcity nationwide, long queues have appeared in Abuja and adjoining states.

Efforts to get the authorities, including the Nigerian National

Petroleum Company (NNPC) Limited, to intimate the cause of the latest development were unsuccessful, as the phones of the spokesman of the organisation, Mr Garba Muhammad, were switched off.

The long vehicle lines began to build on Saturday, and as of yesterday, THISDAY observed

that the problem had worsened, as almost all private filling stations had no products. It was further noticed that while the NNPC mega stations were open for business, although with queues stretching over a kilometer in many places, the outskirts of Abuja were hardest hit.

In late January this year, Nigerians were confronted with

supply disruptions, which began in Abuja, then spread to Lagos and other parts of the country after adulterated products went into circulation. The problem lasted until early April.

When the issue continued to linger, it was learnt that the deficit in the supply of crude oil cargoes from NNPC through its Direct Sale

Continued on page 10

the deficit of about 17 cargoes in the DSDP obligation due to low oil production was responsible for the prolonged disruption.

It is not clear if the matter has reared its head again this time, as the authorities have failed to provide any clarifications.

On Sunday, in Abuja and surrounding states, most filling stations were shut and motorists spent hours in the sun struggling to buy from the few that were open.

This caused serious traffic jam in many parts of the Federal Capital Territory (FCT).

Attempts to contact the spokesman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, were also not successful, as calls to him went to the voicemail facility.

Before this latest episode, the cargoes with the issues, which had caused the prolonged shortage, were said to have arrived with high Sulphur content and were off-spec Nigeria’s standard.

It is unclear if any individual or company has been punished for the aberration, although NNPC had named some importers as culprits.

The federal government had backtracked on its plan to remove fuel subsidy in mid-2022, citing the need to protect the poor and vulnerable. It continues to import all products.

in particular.

“This will help to heal the wounds of the nation as was the case in 1999, went the country was bleeding as the result of the June 12 agitation," he added.

Like Yakassai, other stakeholders such as Chief Edwin Clark, Ayo Adebanjo of the Afenifere and the Middle Belt Forum have been agitating for a power shift to the

southern part of the country, with some specifically saying it should be zoned to the south-east.

Other PDP stakeholders like the former Minister of Police Affairs, Alhaji Adamu Waziri had called for an open ticket where the delegates to the presidential convention will decide the fate of who becomes the presidential candidate of the PDP.

wonder, farmers were the ones who enthusiastically purchased Form on his behalf but which he has rejected, according to his tweet.

“We reaffirm that Emefiele should not resign because he has not flouted any law. We recall that the Federal High Court sitting in Umuahia has effectively struck out Section 84(12) of the newly amended Electoral Act,” the statement added.

The group stressed that it was “shocked that a Senior Advocate of Nigeria (SAN) and Governor of Ondo State, Rotimi Akeredolu, and the Peoples Democratic Party, PDP, should join the anti-Emefiele mob to demand for his resignation based on blatant falsehood and hearsay.

“Emefiele has openly told the world that he has not consented to the request of some patriots especially Nigerian farmers to run but would rather prefer to be Divinely guided on the matter, which he referred to as a ‘serious decision.

“We urge Emefiele to stay focused on the good job he is doing at CBN where he has guided the nation’s economy out of two recessions, navigated the economic landmines of Covid-19 pandemic which consumed stronger economies in the advanced West,” the statement said.

to drag him into the race.

He described Adesina as a man of proven integrity and experience, saying he performed well for Nigeria as Minister for Agriculture.

"He has solved the problems of so many farmers, created so many jobs by solving the corruption in the agricultural sector. Particularly the fertilizer, which he brought the e-wallet for fertilizer which the farmers are enjoying now, and it has created a lot of jobs," Saleh explained.

"It has also helped millions of farmers in Nigeria, which they are still benefiting from and also as president of African Development Bank, he has brought a lot of initiatives that solve Africa's food security problem. So, we will like him to come back home and apply it here in Nigeria."

On how Adesina would woo delegates to vote for him, he noted that the most important thing for the group now was to get Adesina to agree to join the race.

"When we get there, we'll cross that bridge, don't worry about that. First and foremost, the most significant thing is for us to get him to agree and come and collect the form, sign it for us and then join the race. That is the most significant thing at the moment," he added.

"Issues of delegates and everybody I know all Nigerians apart from not even the delegates even you, everybody in Nigeria knows that Adesina has the capacity to bring Nigeria back from the brink."

Also, the leader and founder of the Youth Arise Movement, Babatunde Ademola, said he was one of the group leaders working tirelessly and consulting across the country and even outside the country to ensure that they get him to come and obey the clarion call.

"I will tell you significantly that we have tried to reach out to him.

We have sent messages. We have not gotten any definite response from him," explained Ademola.

"We need Dr Adesina to come and solve Nigeria's problem, and because of this, we have put our resources together."

Direct Purchase (DSDP) scheme complicated matters.

Under the DSDP scheme, the oil company provides crude oil to its trading partners, who in turn supply the NNPC with refined products worth the volume of crude received from the national oil company.

Sources at the firm had said that

OIL MARKETERS RAISE THE ALARM, ACCUSE AIRLINE OPERATORS OF TRYING TO FORCE SUBSIDY ON AVIATION FUEL The withdrawal forced the umbrella organisation, Airline Operators of Nigeria (AON), stop the plan.

In a related development, Chevron Nigeria, yesterday, announced the termination of its contract with Caverton Helicopters.

According to the oil marketers, if government yields to the pressure to control the price of aviation fuel by "fiat" and the Nigerian National Petroleum Company (NNPC) Limited begins to import and sell to the airline operators below the market price, the situation would lead to another subsidy and further compound the already bleeding economy.

The immediate past chairman of Major Oil Marketers Association of Nigeria (MOMAN), Mr. Tunji Oyebanji, said this in a chat with THISDAY yesterday, after the earlier threat by the local airline operators to shut down their operations today, following the rise in the price of aviation fuel to N700 per litre, as against N190 sold previously, as the airline operators claimed.

Oyebanji stated that the airline operators were trying to force the federal government to start controlling the prices of aviation fuel by fiat. He said the only solution was for airline passengers to pay the appropriate price for tickets to enable the operators recoup their expenses.

Oyebanji said, "Airline Operators

are trying to pressurise government to control prices by fiat. In the alternative, let people pay the appropriate price for airline tickets.

Aviation is not a social welfare business. Why are international airlines that we also sell to, not threatening to stop flights?"

He wondered why the airline operators had not been able to proceed with their plan to import aviation fuel even after the opportunity was given to them.

Maintaining that the price of ATK followed the international price of the product and the exchange rate, the marketer said the cost of importing the product was high.

On his part, the current chairman, MOMAN, and Chief Executive Officer of Ardova Plc, Mr. Olumide Adeosun, told THISDAY that the Russia-Ukraine war, foreign exchange scarcity, inflation, as well as logistics and administration costs were major

drivers of the rising price of aviation fuel at the international and local markets.

Adeosun said traders of the product at the international market were now putting premium on demand and supply and were selling their products to the highest bidder, making it difficult for them to import the product and sell at a cheaper rate.

According to him, "Russia controls over 30 per cent production. What we are seeing is that traders are putting premium attention on the price of aviation fuel because all of us are scrambling for exactly the same barrel.

“So, the traders are paying premium attention on demand and supply and they are selling to the highest bidders only. We should try and look at the financial factors and the predominant driver, look at all of the issues around storage cost,

administration cost, and, of course, you have to think about where you are going to buy your next round of products from."

Noting that the international carriers were not complaining that the price of ATK had gone up, as the hike affected everybody, Adeosun pointed out that, unlike the local operators, international airlines operated their business in ways that gave them long term security of product. He explained that the international airlines entered into long-term contracts, which allowed them to secure products supply for a long time and be able to pre-empt the price of ATK on a month-onmonth basis.

Adeosun stated that in Nigeria, the airline operators basically bought on the days they needed to fly, stressing, "You cannot do that when your business is dependent on the availability of fuel. Aviation

fuel is not like petrol for taxi. You are not driving Uber. So, this is a very serious business that requires strategic planning."

On whether any of the airline operators had applied and secured licence to import aviation fuel, as they had said in February, the MOMAN chair said none of them had applied for the licence, to the best of his knowledge.

AON Aborts Plan to Suspend Flight Operations Meanwhile, in a statement issued yesterday, AON announced the suspension of its plan to halt operations. The statement was jointly signed by AON President, Alhaji Abdulmunaf Yunusa Sarina;

YAKASSAI: APC DUTY BOUND TO ENSURE POWER SHIFTS TO SOUTH Arewa Consultative Forum (ACF) for the north retaining power as a harbinger of crisis, insisting that it was not the fault of anybody that the north presented “an incompetent person for presidency in 2015.”

He explained further, "from 2015 to 2023, the Presidency of the country would have stayed in the north for eight years and

therefore for equity and stability power should shift to the south and in fact to the geopolitical zone that have not have it since the return of democracy."

He explained that Buhari contested for the presidential elections three times and failed because he had no strong support from the south, but later in 2015, went into an alliance with the

south-west and eventually won.

He said, "for this reason, President Muhammadu Buhari himself should be the strong voice for power rotation and zoning.

"For the Peoples Democratic Party (PDP), it is not the party in power, but for the stability and giving a sense of belonging, I would support that it is zoned to the south and in the south-east

2023: AFRICAN LEADERS PRESSURE BUHARI FOR AFDB PRESIDENT, ADESINA Goddy Egene in Lagos, Sunday Aborisade and Adedayo Akinwale in Abuja Some African leaders have mounted pressure on President Muhammadu Buhari to anoint President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, as the presidential candidate of the All Progressives Congress (APC) in the 2023 general election, THISDAY learnt at the weekend.

A reliable source told THISDAY that leaders in West Africa, including the presidents of Niger and Côte d'Ivoire, might have spoken to Buhari on behalf of the AfDB president. The West African leaders are meeting Buhari in Abidjan today and tomorrow, at a two-day conference organised by the United Nations, on the future of land, regarding desertification, drought, degradation, rights, restoration and implications for national and world economies..

Their mission? To try and persuade him to consider Adesina. This, it was gathered, was what encouraged a coalition of support groups to purchase the expression of interest and nomination forms for the president of the continental bank.

However, analysts described as double standard the calls on Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to resign over the purchase of the N100 million APC nomination and expression of interest forms on his behalf by his supporters, while keeping mum on the purchase of the forms for Adesina.

The analysts specifically accused the Governors of Ondo and Sokoto States, Rotimi Akeredolu and Aminu Tambuwal; the Peoples Democratic Party (PDP), Oby Ezekwesili, and other activists who have been calling on Emefiele to resign, without demanding same from Adesina who superintends over a continental bank.

“The APC forms have been purchased for Adesina, why are they not calling for his resignation as well?” the analyst who pleaded to remain anonymous wondered.

Akeredolu had while reacting to the purchase of the N100 million

All Progressives Congress (APC) nomination and expression of interest forms on behalf of Emefiele for the 2023 presidential election, last Friday, said the CBN Governor should resign his position or be sacked.

On her part, Nigeria’s former Minister of Education, Ezekwesili as well as some activist on Twitter and other social media platforms had also called on Emefiele to resign.

Three different groups, Rice Farmers Association of Nigeria, Friends of Emefiele and Emefiele Support Group, had last week, purchased the forms for Emefiele.

They noted that the apex bank's boss was the only responsible and responsive person to succeed President Muhammadu Buhari at the 2023 general elections, hence their decision to purchase the forms for him.

Meanwhile, the National Chairman of Action Alliance (AA), Kenneth Udeze, has disagreed with Akeredolu, over his call for the sack of Emefiele.

In the same vein, the Ideas Nigeria Movement (INM), a group of Nigerians with focus on national unity, innovation and capacity also described as baseless, calls by various persons and associations for Emefiele to resign his position.

Responding to the calls for the CBN governor to vacate his position, Udeze, in a statement yesterday, in Abuja, alleged that Akeredolu's anger against Emefiele was beyond the issue of the purchase of form.

He said: "Many participants and watchers of the democratic space must have been taken aback by the speed and audacity at which the Ondo State Governor came down hard on Emefiele.

"It is more surprising that Akeredolu spoke at a time when Emefiele has not even come out to declare that he has interest and he will be running.

"It is true that the groups that felt that the CBN Governor will do well as the president purchased forms for him but he has not made any declaration.

"So, Nigerians will naturally want to ask the Ondo Governor on which basis is he asking for

Emefiele's sacking?”

Speaking further, he said: "For the discerning minds, Akeredolu's call is beyond politics or national interest. It is purely personal.

"I am however advising Nigerians to beware of desperate politicians who will be presenting their personal interests as national interest as we move closer to the general election."

In a related development, the INM, in a statement issued by its Executive Secretary, Mallam Nadodo Abubakar, yesterday, stressed that Emefiele has not breached any law, especially the constitution, hence should not resign.

The INM wondered why some persons were still calling on Emefiele to resign even when he had rejected the form and was yet to declare his intent to run, stressing that, “Emefiele as at today has not breached any extant law of the land.”

The statement added: “Even by his own admission, the CBN Governor has not formerly declared his intent to contest for the Presidential ticket of any party, yet certain persons are already calling for his head or his resignation while some are threatening to shut down the nation through protests.

“We dare say that these reactions are baseless, ultra vires and of no effect as they are based on hearsay and the actions of some Nigerians (not Emefiele) who are working at convincing Emefiele to join the presidential race.

“It is therefore wrong and unjustifiable for critics of Emefiele to continue to demand for his resignation when the man, himself, has not officially declared his intention to run.

“We admit that several groups including professional bodies have since mounted pressure on Emefiele to contest the Presidency, such persuasions were only vicarious and do not represent his opinion or intendment. Even so, these groups were only persuading Mr. Emefiele to exercise his constitutional rights and liberties.”

Furthermore, the INM faulted critics who were referencing the Public Service Rules, CBN Act and

the 1999 Constitution to advance their argument, adding that quoting laws would not be enough, but showing proof of how his “action or inaction offends any of the statutes.”

“The Constitution is clear on the matter of who should resign and when to resign in the case of appointees seeking election to political offices. While ruling on the suit marked FHC/UM/ CS/26/2022, Justice Evelyn Anyadike of the Federal High Court sitting in Umuahia, Abia State capital, held that Sections 66(1)(f), 107(1)(f), 137(1)(f) and 182(1)(f) of the 1999 Constitution already stipulated that appointees of government seeking to contest elections were only to resign at least 30 days to the date of the election and that any other law that mandated such appointees to resign or leave office at any time before that was unconstitutional, invalid, illegal null and void to the extent of its inconsistency to the clear provisions of the Constitution. “This ruling renders nugatory any other law, rule or Act of Parliament stipulating that appointees must resign ahead of the primary elections of their preferred party.

“Even if we assume, though not conceding, that Emefiele is running, he has not contravened any of the afore-listed canons often quoted by his traducers. For the avoidance of doubt, Emefiele has not breached any law.

“He has not shown any partisanship, neither has he mounted any rostrum nor undertaken any tour across the land to woo delegates of any political party.

“Every perceived political activity being linked to Emefiele was done by different groups who merely made persuasive efforts to compel him to run for Presidency on account of his antecedents as someone who believes in promoting a production economy as opposed to a consumption economy.

“It is no brainer that Emefiele remains the best CBN governor who has genuinely placed the nation on the path of economic diversification through a revolutionary turnaround of the agriculture ecosystem. Little

Coalition: N100m Presidential Form Purchased But Adesina Not Persuaded Meanwhile, the coalition of support groups that purchased the presidential nomination form for President of the African Development Bank, Akinwunmi Adesina, has lamented that it has not been able to convince him to contest the All Progressives Congress (APC) presidential primary election.

At the weekend, the coalition of 28 support groups had paid for his presidential nomination form.

While addressing journalists in Abuja, yesterday, the President of One Nigeria Group, Mohammed Saleh, said their quest to seek a solution to the myriad of challenges confronting the country informed their decision

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NEWS

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 08074010580

SARAKI'S TRAIN LANDS IN KADUNA...

L-R: Senator Ibrahim Kazaure; PDP Presidential Aspirant and Former Senate President, Dr. Abubakar Bukola Saraki, and former Vice-President, Alhaji Namadi Sambo, during a courtesy call by Saraki to the former vice-president’s home in Kaduna…yesterday

In Broad Daylight, Terrorists Kill 63 in Zamfara Communities, Buhari Directs Military to Sustain Offensive against Criminals Francis Sardauna in Katsina Terrorists have massacred no fewer than 63 persons in Damri, Sabon-Garin Damri, Kalahe, Faru and Kauyen Minane farming communities in Bakura and Maradun Local Government Areas of Zamfara State in separate fresh onslaughts on the farming communities.

This was just as President Muhammadu Buhari yesterday directed the security agencies to sustain the current offensives against terrorists and other criminals operating in the north-west region particularly in certain parts of Zamfara State.

THISDAY gathered that 56 people were killed by the terrorists in Damri, Sabon-Garin Damri and Kalahe communities in Bakura local government last Friday while seven were massacred in Faru and Kauyen Minane in Maradun local government.

A resident of Kalahe, Ibrahim Usman, who confirmed the Friday attack to THISDAY, in a telephone interview yesterday, said the terrorists invaded the communities with sophisticated weapons at about 2:30pm and started shooting sporadically.

Although, police authorities and the state government were yet to confirm the attacks, a chieftain of the All Progressives Congress (APC) in the state who craved anonymity, said terrorists had killed more than 70 people in the affected communities.

Usman explained that the terrorists carried out what appears to be coordinated attacks from Sabon Garin Damri, Damri and Kalahe for about one hour before a joint security team repelled them.

He added that a 13-year-old girl, Police officer and personnel of the Nigeria Security and Civil Defence Corps (NSCDC) were among those killed in Damri community by the motorcycleriding terrorists.

He reiterated that the terrorists also invaded a primary healthcare facility in Damri community, where they killed two patients who were receiving treatment in the hospital.

He said: "The terrorists

attacked the communities in a large number riding on their motorcycles on Friday afternoon at about 2:30pm. As of Saturday morning, we counted 56 dead bodies. They also set ablaze an operational Hilux vehicle belonging to the Police.

"They killed three people; a girl, a police officer and another officer with the NSCDC in the Damri community. Two patients at our healthcare centre were also killed while the remaining 51 people were killed by the terrorists in Sabon Garin Damri and Kalahe.

"Some of the victims were not residents of the three

communities. They were people who came from nearby villages to celebrate Eid El Fitr with their relatives. They have been buried according to Islamic rite.”

Barely 28 hours after the terrorists killed 56 people in three villages in Bakura Local Government Area of the state, the hoodlums stormed Faru and Kauyen Minane villages in Maradun Local Government Area of the state where they killed seven other villagers.

A resident of Faru village, Kamilu Tanko, who confirmed the fresh onslaught on Faru and Kauyen Minane villages

on Sunday, said the deadly attacks occurred on Saturday at about 3pm.

He said: "Six people were killed in Kauyen Minane while one was killed in Faru. I was at the Maradun General Hospital when soldiers brought their corpses.

Number of those killed may increase because many are still missing in the affected villages".

He said the seven people killed were male farmers, stating that four of them were killed at the outskirts of the Kauyen Minane village while returning from the farms.

Meanwhile, Buhari, in a

statement yesterday, noted that while there appeared to be relative calm in Zamfara, with situations returning to normal in most parts and the rural communities ready to live their lives normally again, there had been several breaches, especially in view of the terrorists’ attack on Damri, Sabongarin Damri and Kalahe villages in Bakura Local Government Area, and lately, Maradun.

According to him: “We mustn’t allow the return of days when the bandits had a free hand to do as they wished.

The rural folk in Zamfara and

elsewhere must be allowed to have peace.”

The president, therefore, directed that the momentum that had been developed by the security agencies be sustained in order to bring an end to the activities of the murderers.

While expressing condolences to the families of the victims as well as the government and people of the state, Buhari further ordered that the combined efforts of both the federal and state governments must do all that could be done to bring an immediate end to the horrific killings.

SERAP Sues Buhari, Wants Court to Declare Pardon for Dariye, Nyame Illegal Udora Orizu in Abuja The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against President Muhammadu Buhari, asking the court to declare illegal and incompatible with the oath

of office and public interest the recent pardon granted to former governors of Plateau State, Senator Joshua Dariye, and Taraba State, Rev. Jolly Nyame who are serving jail terms for corruption.

Dariye and Nyame were recently pardoned alongside

157 others convicted for various offences. The two men were investigated, prosecuted and convicted for stealing N1.16 billion and N1.6 billion respectively from their state treasuries, while they were in office between 1999 and 2007.

However, in the suit number FHC/L/CS/825/2022 filed last Friday, at the Federal High Court, Lagos, SERAP wants the court to determine whether the exercise of the power of prerogative of mercy to grant pardon to Dariye and Nyame was compatible with

Buhari Travels to Abidjan for Two-day UN COP-15 Conference Accompanied by four ministers, NSA, three other top officials Deji Elumoye in Abuja President Muhammadu Buhari is leading an eight-man Nigerian delegation to Abidjan, Cote d'Ivoire, to attend a two-day United Nations organised conference on the future of land, regarding desertification, drought, degradation, rights, restoration and implications for national and world economies.

According to a statement issued yesterday, by presidential spokesman, Mallam Garba Shehu, Buhari, who is also the President of the Great Green Wall in Africa, was accompanied on the trip by the Minister of Foreign Affairs, Geoffrey Onyeama; Minister of Environment, Mohammed H. Abdullahi; his Agriculture

counterpart, Dr. Mahmoud Mohammed and Minister of Water Resources, Engr Suleiman H. Adamu.

Also, on the president’s delegation are the National Security Adviser, Major General Mohammed Monguno (rtd); Director General, of the National Intelligence Agency, Ambassador Ahmed Rufai Abubakar and Chairman/CEO of Nigerians in Diaspora Commission, Abike Dabiri- Erewa.

Buhari, who would participate in a Summit of Head of States and Government from May 9th to 10th, 2022, joins world leaders at Sofitel Hotel, Abidjan, for the 15th session of the Conference of the Parties (COP15) of the United Nations Convention to Combat

Desertification (UNCCD), with the theme “, ‘Land. Life. Legacy: From scarcity to prosperity.”

Top items on the agenda of the conference are drought, land restoration, and related enablers such as land rights, gender equality and youth empowerment.

The convention aims to take action to ensure that land, the lifeline on the planet, continues to benefit present and future generations.

To achieve the visionary objective of land restoration and balance, COP15 will bring together leaders from governments, the private sector, civil society and other key stakeholders from around the world to drive progress in the future of sustainable management

of one of the most precious assets, land.

The convention would explore links between land and other key development issues, which would be discussed during the high-level segment, including a Heads of States Summit, highlevel roundtables and interactive dialogue sessions.

COP 15 is a key moment in the fight against desertification, land degradation and drought.

Accordingly, it would build on the findings of the second edition of the Global Land Outlook and offer a concrete response to the interconnected challenges of land degradation, climate change and biodiversity loss as the world steps into the UN Decade on Ecosystem Restoration.

the public interest, the oath of office, and constitutional duty to combat corruption.

SERAP also sought for an order setting aside the pardon granted to Dariye and Nyame in the public interest, and for the sake of the integrity, well-being and prosperity of Nigeria, and the country’s international obligations.

The suit filed on behalf of SERAP by its lawyers Kolawole Oluwadare and Opeyemi Owolabi, read in part: “The pardon power, if properly exercised, can help to protect citizens against possible miscarriage of justice. Section 15(5) of the Nigerian Constitution of 1999 (as amended) provides that ‘The State shall abolish all corrupt practices and abuse of power. Article 26 of the UN Convention against Corruption to which Nigeria is a state party requires the government to ensure ‘effective, proportionate and dissuasive sanctions’ including criminal and non-criminal sanctions, in cases of grand corruption.

“Article 26 complements the more general requirement of article 30, paragraph 1, that sanctions must take into account the gravity of the corruption offences.

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BUILDING ALLIANCES IN FURTHERANCE OF HIS AMBITION...

L-R: Sokoto State Deputy Governor, Alhaji Manir Muhammad Dan’iya; Ovation Magazine publisher and PDP presidential aspirant, Chief Dele Momodu, and the State Governor and PDP presidential aspirant, Alhaji Aminu Waziri Tambuwal, when the governor hosted the publisher to a breakfast meeting at the Sokoto State Government House... yesterday

With Almost 700,000 Daily Under-production, Nigeria, Angola Account for Half of OPEC’s Oil Supply Gap Cartel missed output target by 1.45 million bpd in March Emmanuel Addeh in Abuja with agency report Almost half the shortfall in planned oil supply by the Organisation of Petroleum Exporting Countries (OPEC) and its allies is down to Nigeria and Angola, Reuters has indicated.

It reflects a number of factors which have combined to hobble crude production on the continent, including moves by Western oil majors away from African projects.

OPEC and its allies, known as OPEC+, pumped 1.45 million barrels per day (bpd) - equal to 1.5 per cent of world supply - below its target in March, the OPEC+ figures showed.

According to the figures, Angola was responsible for almost 300,000 bpd of the OPEC+ supply shortfall while Nigeria was pumping almost 400,000 bpd below target. The war in Ukraine has also hit Russia's oil

trading and its output was about 300,000 bpd short of its March supply target.

The OPEC+ shortfall is one of the reasons global oil prices hit a 14-year high in March above $139 a barrel and it has prompted calls by the United States and other consumers for producers to pump more.

But OPEC has repeatedly rebuffed the calls and one contributing factor is simply that some of its members don't have oil available to pump.

In OPEC's view, investment cuts after oil prices collapsed in 2015-2016, due to oversupply, along with a growing focus by investors on economic, social and governance (ESG) issues, have led to a shortfall in the spending needed to meet demand.

"There was massive underinvestment in the industry over the years, further

Wike Lambasts Boundary Commission as Corrupt, Advises Buhari to Monitor Agency Blessing Ibunge in Port Harcourt Governor Nyesom Wike of Rivers has slammed the National Boundary Commission as corrupt, advising President Muhammadu Buhari to pay more attention to the agency.

Wike gave the advice on Sunday, during a special thanksgiving service at Paul's Anglican Cathedral in Port Harcourt, over the legal victory secured at the Supreme Court of Nigeria in the oil well dispute between Rivers and Imo. The Rivers government is awaiting the NBC's demarcation of the oil wells in the Akiri and Mbede communities, which are in dispute.

"While the waiting was on, there was a political understanding between Imo State and Rivers State that Dr Peter Odili of Rivers State and Achike Udenwa of Imo State acceded to when they were both serving as governors," stated the Rivers governor.

Wike noted lamented that ex-Governor Emeka Ihedioha and incumbent Governor Hope Uzodimma rescinded the political arrangement of the 50-50 sharing formula of the proceeds from

the disputed oil wells in Akiri and Mbede communities.

"This young man (Emeka Ihedioha), just within four-five months he became a governor, went to see Mr President. He wrote to Mr President that Rivers State is owing Imo State N15 billion and, therefore, they should take the money from Rivers State, that the oil wells we are sharing on the 50-50 formula amicably belong to them," Wike explained.

He added, "This is someone Rivers people, not Rivers State government, supported and spent money on. I have never seen a betrayal like this in my life that the former governor Emeka Ihedioha displayed. Rivers people who helped him had sleepless nights to make him the governor of Imo State. We did everything we could do, thinking that we were supporting a friend. All we got was a stab at the back."

At the behest of Buhari, the late Chief of Staff, Abba Kyari, wrote a letter to the Revenue Mobilisation, Allocation and Fiscal Commission (RMFAC), said Wike. The letter, he said, directed for the deduction of N15 billion from Rivers and the handover of the disputed oil wells to Imo as requested

by Emeka Ihedioha.

complicated by the effect of ESG (Environmental, Social and Governance," OPEC Secretary General, Mohammad Barkindo told Reuters.

"There was a contraction of 25 per cent in 2015 and 2016 unprecedented. There was no significant recovery before 2020, when we registered a 30 per cent contraction in investments in the industry," he added.

Figures from the International Energy Agency (IEA) show there was no significant increase in investment in global oil and gas exploration and production during 2017-2019 - followed by a 32 per cent plunge in 2020.

International oil companies are gradually pulling out of Nigeria's onshore oil production, although they continue to invest in its vast offshore oil and gas resources, where costs remain competitive.

Shell which has been heavily involved in Nigeria’s oil and gas industry did not immediately respond to a request for comment about investment and the reasons for the decline in Nigerian output.

OPEC's Gulf producers led by Saudi Arabia are largely meeting their OPEC+ targets, and OPEC sources say their relative lack of dependence on outside investors has helped.

"The investment shortfall affected more the countries where reliance on foreign investment is

more prominent," an OPEC+ source from a Gulf producer told Reuters.

IEA figures show that in 2019, Final Investment Decisions (FIDs) affecting over eight times more crude reserves in the Middle East were taken than those affecting African reserves. Middle East approvals were also consistently higher from 2011 through 2018.

"Saudi Arabia, the United Arab Emirates and Kuwait are increasing investment and that to some extent can help offset declines elsewhere," said Audun Martinsen, analyst at Rystad Energy.

"It also highlights why OPEC is not intervening more because it is quite hard for OPEC to increase production overnight," Martinsen added.

Angolan state oil company Sonangol and Nigeria's state oil firm the Nigerian National Petroleum Corporation (NNPC) did not immediately respond to Reuters requests for comment on their production decline or the reasons for it.

According to a 2021 report from the Arab Petroleum Investments Corporation or APICORP, Middle East and North African producers were still expected to boost energy investment to $805 billion in 2021-2025 - up $13 billion on the previous year's five-year outlook, despite the impact of the pandemic.

In February, Saudi Arabia-based APICORP said it expected rising oil

and gas prices to further support energy investment in the region.

While Western majors are increasingly focusing on the energy transition and selling oil assets, they remain big producers in Africa. Big Western companies are responsible for 40 per cent of output in Nigeria and 60 per cent in Angola, according to Rystad.

Rystad said it sees some potential for new investment in Nigeria and Angola but projects remain "too expensive" for the majors.

"Since 2015 the majors have been focusing on cost and developing things in Africa has been too much of a risk with cost overruns," Rystad's Martinsen said. "It's not really part of their key focus any longer," he added.

Angolan production has fallen 50 per cent since 2015 and output is down by about 30 per cent over the same period in Nigeria, he said.

In Nigeria, production is expected to grow slightly by 200,000 bpd in the coming years, but then decline again after 2024.

Shell said last month that oil spills arising from pipeline tapping in the Niger Delta doubled in 2021 to the highest since 2016.

Underlining the extent of the decline, exports of key Nigerian crude grade Bonny Light have fallen to just two or three cargoes a month from about eight or nine previously as a result of escalating

oil theft.

At the weekend, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), noted that the organisation was taking initiatives to enhance crude oil production, including the identification of oil and gas wells producing below capacity.

According to him, this was being done by the “inventorisation” of shut-in wells and analysis of the inventory to map the reasons for shut-in and devise measures for quick reopening.

He pointed out that the regulatory body was using well and reservoir surveillance activities in identifying poorly performing wells and “workover” candidates for quick intervention.

Added to that, he pointed out that the commission was embracing and adopting new technologies and advanced recovery techniques for unlocking some identified stranded oil and gas resources.

Despite the desperate need for foreign exchange, Nigeria has been unable to benefit from rising international oil prices because it lacks the capacity to meet its OPEC quota which was 1.735 million barrels per day in April.

In addition, the petrol subsidy regime has created a huge burden on the country’s revenues, with N4 trillion budgeted for the purpose this year alone.

Oba of Benin to Amaechi: We’d Be Surprised If You Didn’t Run Minister advises APC delegates not to waste their votes at presidential primaries The Oba of Benin, Oba Ewuare 2, at the weekend, told the Minister of Transport, he would have been surprised if he wasn’t running for the president of Nigeria, because he was well positioned to lead the country.

The monarch said this, when Amaechi visited his palace in the sourse of his consultation to Edo and meeting delegates of the All Progressives Congress (APC) in the state.

This is as Amaechi advised the Edo APC delegates to vote wisely and not to waste their votes at the upcoming presidential primary.

However, the Oba of Benin, while speaking to Amaechi, said, “If you didn’t come out, we would have been surprised. We have heard you, we have been watching all you have been doing as the

Minister of Transportation.

“We commend you for what you have done for the railway lines, but the security agencies need to be involved considering what happened the last time on Abuja-Kaduna railway line. Benin throne is non-partisan, however, we’ll endeavour to follow our ancestors directives to guide and pray.”

Addressing delegates in Edo State, Amaechi urged them not to be carried away with the bevy of aspirants from the ruling party, but stay focused on the goal of voting a credible, experienced and performing aspirant like himself to fly the APC flag at the 2023 presidential elections.

He said, “Politicians will come to ask for your votes, but please, as South South people, as politicians,

as good people of Nigeria, don’t waste your votes. The problem with politicians is you. The elites have shown you that they are here to ‘chop money’ and you allow them. They will bring money here and say you should vote for them, and nobody will care to ask ‘what was he before now, what is his performance?’ The economy they want to come and manage, how have they performed?

“Ask me as Minister for Transport, I’m working hard to make sure that Lagos-Calabar rail line begins and it will come through Benin. I can account for my part. So, when those in charge of the economy come to you for votes, ask them how they have managed the economy. As I’m here, ask me. If you ask these kind of questions, they will not

come forward. Me, I come with experience, let them come with that experience.

“I come with the experience of being a Speaker for eight years and I managed my colleagues without being impeached. First time in the history of Nigeria that a Speaker will serve for eight years without being impeached. It was me. And I was Chairman, Speakers Forum, twice. You understand what it means to manage your equals? I was elected Chairman of Governors Forum, twice. If I didn’t manage the Governor’s Forum well, would my colleagues have voted for me?” He asked.

Amaechi also harped on the importance of having an electable candidate on the ballot for the APC to win the presidency.

MONDAY MAY 9, 2022 • T H I S D AY

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NEWS

INVESTITURE OF DIOCESAN DISTINGUISHED FELLOWS AND ROYAL FELLOWS...

L-R: Hon. Justice Jumoke Pedro; former Deputy Governor of Lagos State and distinguished fellow of the Diocese, Mr. Femi Pedro; Ogun State Governor, Prince Dapo Abiodun; Diocesan Bishop of Ijebu South-west, Rt Rev. Babatunde Ogunbanwo and distinguished fellow of the Diocese, Dr. Abiodun Shobanjo, at the thanksgiving service for the third session of the Fourth Synod and Investiture of Diocesan Distinguished Fellows and Royal Fellows held at the St. Barnabas Anglican Church, Okun-Owa Ijebu, Odogbolu Local Government Area, Ogun State…yesterday

Obi Makes Fresh Case for Zoning, Declares Nigeria Not ‘Obi and Sons’ Insists idea is imperative for national cohesion Says what people want is 100 per cent effort, not 100 per cent result Former Anambra State Governor and presidential hopeful, Mr. Peter Obi, has reiterated his case for zoning of the nation’s presidency to the south, albeit, in a more intelligible manner, when he said in an exclusive interview with THISDAY that, Nigeria was not a personal heritage of any tribe or zone to want to appropriate her.

Insisting zoning was imperative to achieve national cohesion, the former vice-presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general election, said, the presidency could not be likened to ‘Obi and Sons’, which would have entitled only Obi to it.

Noting that even private business owners often brought people of other ethnicity to join them for same purposes, he contended that what Nigerians really needed from their leaders was 100 per cent effort and not 100 per cent result.

Asked if the southern demand for presidency has not begun to sound like an entitlement given the approach so far, he retorted: “No, no. There is no entitlement in it. This is an unwritten understanding in our constitution, where we said you go and next time it will be me.

It is an understanding and there is nothing wrong in it.

“It is done everywhere, even in corporations and businesses, we try to bring in equation. You’ll see some institutions that are owned by people from one tribe going to bring directors from other places just to show that semblance of cohesion even when they can put only themselves. It’s not ‘Obi and Sons’ and therefore only Obi will be there.”

Addressing whether or not the grounds for demanding southern presidency was also fair to the north if the arithmetic of power sharing was objectively analysed, Obi said, “Let me tell you, forget the mathematics and the party issue. Those shouldn’t be the case. The case is when you live in a diverse multi-ethnic society as ours, what makes a difference is your ability to share and accommodate. That is what

makes a difference.

“A society that is like ours makes the cohesion work perfectly.

They are accommodation, sharing, love and making sure that your decisions are based on justice and fairness. And if you are looking at the justice of this issue of presidency, you will find out the reason why it should go to the south. And in a multinational society, you must think about cohesion.”

Obi, who refused to share the view that the position of the south was akin to threat, said, “We in the presidential race are not the ones issuing those orders. They are coming from the leaders of various ethnic groups. And they are doing it rightly. When people talk about other peoples’ stand but it is what you bring out that you are given back. But it is a communication thing and I believe in dialogue and consultation.”

The presidential hopeful, however, said it was not time yet for a debate on where in the south the ticket should be zoned to, noting that it should first come to the region before discussing which zone in the region.

His words: “For me, the concentration should be who will do the job. I have said that whatever we do will be based on justice. After that, the next thing is who will solve these problems.

We are wasting considerable time on what is an issue but not the core issue. The core issue is that all these things are coming, because the promises made in 2015 were not kept.

“When this particular government was coming in, the issues were security, economy, corruption, food and everything.

Do you think we will be talking about zoning or no zoning if they had been solved? We may but the language will be different.

Let us stay with the issues and why we are where we are.”

Discussing his qualification for the nation’s number one job, the former Anambra State governor, said, “You need to go deeper into my background. When you talked about ‘am I qualified’ I

will want you to look at first my educational background. Then, you look at my private sector background.

“I am a trader. I have operated in the corporate world and I have been in public life. Maybe apart from Atiku, nobody in the contest has been through the processes I have been. In terms of education, I have been through the four

walls of the best educational institutions in the world.

“I have been a trader so I know what the micro, small and medium enterprises (MSMEs) are suffering in this country. I still live in Onitsha, where I started my trading, so I still interface with them till today. I have also operated in the corporate world, where I was director and chaired the board of

many corporations.

“I have even been the chairman of Securities and Exchange Commission (SEC).

And I have operated in the public life. Nobody has been through this. They are either politicians, who started from lower positions but I have graduated in every sector. So, who is more qualified?

“I can deal with the security issue, governance issue and I can deal with the economy, because I understand what needs to be fixed. I have lived in the western world, at least, I have lived in The United Kingdom for 10 years. I have travelled all over the world, to at least, 30 countries looking and comparing them with Nigeria.”

OIL MARKETERS RAISE THE ALARM, ACCUSE AIRLINE OPERATORS OF TRYING TO FORCE SUBSIDY ON AVIATION FUEL Executive Director, Max Air, Alhaji Shehu Wada; Chairman, United Nigeria Airlines, Dr. Obiora Okonkwo; CEO, Arik Air, Capt. Roy Ilegbodu; CEO, Aero Contractors, Capt. Abdullahi Mahmood; MD, Azman Air, Alhaji Faisal Abdulmunaf; and Chairman, Air Peace, Mr. Allen Onyema.

The statement read, “Further to numerous calls from the highest echelons in government with promises to urgently intervene in the crises being faced by airlines due to the astronomic and continuously rising cost of JetA1, that the AON has acceded to requests to withdraw the action for the time being while we allow for a fresh round of dialogue with government in the hope of reaching an amicable solution.”

The airline operators also stated that they “reached this decision with the highest consideration for our esteemed customers who have been faced with uncertainty over the last few days and to enable them to have access to travel to their various destinations for the time being during the period of discussions with relevant authorities.”

They said, “In the interest of national economy and security considerations, AON hereby wishes to notify the general public that the earlier announced shutdown of operations on May 9, 2022 is hereby suspended in good fate pending the outcome of hopefully fruitful engagement with government.”

But before AON issued the statement, majority of Nigerian domestic carriers had suspended the plan to stop flight service from today. Leading the pack was Ibom Air, which on Saturday, broke off from the agreement and announced

that it would continue operation.

Dana Air followed and said, in a statement signed by its management, that it had obligation to its customers and, therefore, would not stop operation today.

Green Africa never indicated intention to join the airlines that wanted to embark on suspension of flight operations. But Aero Contractors and Arik Air issued a statement indicating their plan to continue with their flights. Overland Airways announced that it was opting out of the plan to stop operation.

Dana Air, in its statement, explained, “While Dana Air agrees with the Airline Operators of Nigeria (AON) on all the challenges facing domestic airlines in Nigeria and have on many occasions actively participated in the collective and ongoing engagement of relevant authorities on the urgent need to tackle the many issues domestic airlines have been grappling with, which includes the skyrocketing cost of Jet A1, we have taken a decision not to join the suspension of flights on May 9, 2022.”

In a joint statement, Arik Air and Aero Contractors said, “The management of Arik Air Limited (In Receivership) and Aero Contractors (In Receivership) wish to bring to the notice of the traveling public that both airlines will be operating all their scheduled flights on Monday, May 9, 2022.”

It was only Max Air, Air Peace, and Azman Air that held on until AON issued a statement suspending the plan to ground airlines operations from today.

Minister of Aviation, Senator Hadi Sirika, commended the airlines for suspending the planned suspension

of flights. In a statement signed by Special Assistant to the Minister of Aviation on Public Affairs, James Odaudu, Sirika said since members of the AON issued the notice of withdrawal of flight services as a result of rising cost of Jet A1, and in spite of the initial statement by the ministry, enquiries had flooded the ministry. It said some had thought the withdrawal of flight operations was a kind of protest against the government.

The statement said, “We wish to state that the decision of the association is purely a business one as they are private businesses reacting to market forces but appealing for interventions to enable them carry on with their operations.

“The ministry has always made conscious efforts to assist members of the Airline Operators of Nigeria, some of which includes facilitating a meeting between the association and Mr. President, during which the association got several concessions, including duty-free importation of aircraft, engines, spare parts and components.”

It also stated that the minister had at various times personally took members of the association to engage with Central Bank of Nigeria (CBN) to sort out issues of access to forex for their operations and also the NNPC to explore ways of ensuring the availability of aviation fuel.

Chevron Terminates Contract with Caverton Helicopters Chevron Nigeria announced the termination of its contract with Caverton Helicopters. This was disclosed in a statement

titled, “Termination of Caverton’s Contracts.”

The company stated, “This is to bring to the notice of the entire workforce that with effect from May 7, 2022, the contract held by Caverton Helicopters Limited for the provision of aircraft services for both the JV and DW operations have been terminated. Chevron is currently working on securing an alternative service, and this will be communicated soon.”

However, the plan by labour unions in four aviation agencies to embark on two-day warning strike on Monday and Tuesday, May 9 and 10, over the non-implementation of the Minimum Wage Consequential Adjustment, still stands, THISDAY has learnt.

General Secretary of the National Union of Air Transport Employees (NUATE), Ocheme Aba, confirmed yesterday that there had been no development to stop the plan and the strike would still go on.

The Association of Nigeria Aviation Professionals (ANAP); Amalgamated Union of Public Corporation, Civil Service Technical and Recreational Services Employees (AUPCTRE); and NUATE issued a statement at the weekend, saying despite their best efforts, the issue of the Conditions of Service of the Nigerian Meteorological Agency (NiMET), Nigerian Airspace Management Agency (NAMA), Nigeria Civil Aviation Authority (NCAA), and Nigerian College of Aviation Technology (NCAT), as negotiated for upwards of seven years, remained with the National Salaries Income and Wages Commission (NSIWC) and the Minimum Wage Consequential Adjustment remained unimplemented since 2019.

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NEWS

IN PURSUIT OF HIS LIFELONG AMBITION… All Progressives Congress National Leader & frontline presidential aspirant, Bola Tinubu (right), and Lamido of Adamawa, HRH Muhammadu Aliyu Mustapha, when Tinubu paid a courtesy call on the traditional ruler in Yola, Adamawa State…recently

2023: Saraki Pledges to End Hunger, Insecurity If Elected President John Shiklam in Kaduna Former Senate President and presidential aspirant on the platform of the Democratic Party (PDP), Dr. Bukola Saraki has promised to address challenges of hunger and insecurity if elected president.

Saraki who visited PDP delegates in Kaduna, yesterday, to solicit for their support in the forthcoming PDP presidential primaries, spoke during an interview

with journalists shortly after a closed door meeting with a former governor of Kaduna State, senator Ahmed Makarfi.

He said Nigeria was in dire need of a leader who would unite the people and address the security and economic challenges facing the country.

“We are here in Kaduna to see the delegates and the leader of the party in Kaduna State and our former National Chairman, Senator Ahmed Makarfi, to seek his support

and discuss the need for the PDP to put forward a person that has leadership capacity to rescue Nigeria from where we are.

“What I will be doing differently as the president of Nigeria is that, the most important thing is uniting the people of Nigeria, let everybody have a sense of belonging”, Saraki said.

According to him, unity was key to progress of the country, stressing that he

would ensure accountability and also ensure that, security and the economy works.

“We need to ensure we have a president that has empathy.

Look at what is going on in Kaduna State. When I was a banker, we use to come to Kaduna to market at the textile companies.

“We have to revive the textile industries. The focus has to be on not relying on oil and ensure export earnings in non-oil sector grows, so

2023: Abiodun Urges Nigerians to Get their PVCs James Sowole in Abeokuta

Governor Dapo Abiodun has enjoined Nigerians to obtain their voters' cards to exercise civic rights in the forthcoming general elections.

The governor who spoke at the Thanksgiving Service for the third session of the Fourth Synod and Investiture of Diocesan Distinguished Fellows and Royal Fellows held at the St. Barnabas Anglican Church, Okun-Owa Ijebu, in the Odogbolu local government area, governor, noted that it had become imperative for eligible Nigerians to get their voter's cards so as not to be disenfranchised.

"The Bible says when the righteous rule, the people

rejoice. Let us get our voter's cards so that we can exercise our civic rights and vote credible people into government," stated the governor. "Let us stop complaining about the situation of things in the country. The people get the government they desire."

Abiodun, who noted the nation's challenges, decried the prevalent social vices in the country, noting with dismay the situation where children in primary schools are now involved in cultism.

"Nigeria, no doubt, is facing a lot of challenges. Cultism has become the order of the day.

Kidnapping has become the fastest way of making money.

Our youth no longer want to work, but I believe that with

faith and hope in Christ, we will overcome our challenges," he added.

He urged parents to pay attention to their children's welfare and well-being, saying, "As parents, we need to do our beats by guiding them in the right way. Let us ask questions when necessary and ensure that our children, who are our future, are led rightly."

While calling on the people to join hands with the government in building the nation, Abiodun urged the people to have hope and faith in God as these challenges are not insurmountable.

Speaking on the theme of the synod, 'Lift up your eyes', the bishop of Irele/Ese-Odo Diocese in Ondo, Rev. Joshua

Oyinlola, urged Nigerians not to sell their votes but to vote according to their conscience, declaring selling their votes amount to mortgaging their children's future.

The clergyman said it was time for the leaders to pay attention to the hardship being experienced by the citizens, charging Christians not to be blindfolded by the country's challenges and lose sight of God's glory.

In his remarks, the diocesan bishop of Ijebu South-west, Rev. Babatunde Ogunbanwo, lauded the state government for empowering the youths, saying, "We do not need youth who are thugs, but useful youth who will be useful to themselves and the society."

PDP Primaries: Enugu West Pledges Support for Ugwuanyi Ahead of the Peoples Democratic Party (PDP)'s primary elections, the statutory and ad hoc delegates from Enugu West Senatorial District, on Sunday, have assured Governor Ifeanyi Ugwuanyi of their support.

The delegates, who gave the assurance when they paid a solidarity visit to

Ugwuanyi at the Government House, Enugu, applauded the governor for entrenching peace and good governance.

They also commended him for the peaceful conduct of the ward congress of the PDP across the 260 electoral wards of Enugu on April 30.

The delegates from the five local government areas

of Enugu West Senatorial District comprising Aninri, Awgu, Ezeagu, Oji River, and Udi lauded Ugwuanyi for good governance and leadership.

“We assure you (Ugwuanyi) that we, the delegates, are for you, and wherever you say we should go, we will go with you. Other decisions

you will take, we will stand with you. In any condition, we are with you," said the Chairman of Ezeagu LGA, Chukwudi Ozoeluba, on behalf of the delegates. "We equally to thank you for the peace you have given Enugu State. We have never seen a peaceful three-man delegate election in Enugu.

that jobs can be created for a lot of youths. But to do this, you need a President that knows what it takes”, Saraki said.

Speaking earlier while addressing the PDP delegates at the party secretariat, Saraki lamented the endemic poverty and hunger among Nigerians.

He said if elected president he would provide free medical services to Nigerians and create jobs.

Saraki said: “I am here to address our delegates in Kaduna State because without the blessings of Kaduna state nothing will happen. It is God that made so.

"2023 is not a time to vote any how person into power.

We need a courageous man to lead Nigeria. I stood my ground as Senate President for things to work well.

"I am a medical doctor, and I will ensure free medical services to Nigerians. There is hunger in Nigeria. There is insecurity.

"I will make insecurity a thing of the past especially in the North-west.

"We must unite the country because we are one. So vote me into power and I will revive all Textiles industries in Kaduna. We must provide employment to youths. This is the time you need a Nigerian who is respected across the world.

“I am your own. I will fix Nigeria. Find the person who can unite Nigeria. I am that person".

In his remarks, the Kaduna state chairman of the PDP, Hassan Hyet, described Saraki as a young and silent achiever.

Senate President, Others for Senator Adeola's Chieftaincy Installation Solomon Adeola, currently representing Lagos West and seeking to represent Ogun West in 2023, is among eminent sons and daughters of Yewaland that would be conferred with chieftaincy titles by the paramount ruler and President of Yewa Traditional Council, Oba Kehinde Olugbenle.

The event, slated for May 14, coincided with the 10th anniversary of the installation of Olugbenle as the Olu of Ilaro and paramount ruler of Yewaland.

The planned installation of Adeola, popularly known as Yayi, and others, was contained in a statement by the senator's media aide, Chief Kayode Odunaro.

While Adeola would be conferred with Aremo-Oba Yewa (crown prince), his wife, Temitope, would be conferred with Yeye Aremo of Yewaland.

Odunaro said the Senate President, Senator Ahmad Lawan, Abiodun, ex-Ogun Governors Olusegun Osoba and Gbenga Daniel, the Secretary to Government of the Federation, Mr. Boss Mustapha, the Minister of Finance, Budget and National Planning, Hajia Shamsuna Ahmed, Ooni of Ife, Oba Adeyeye Ogunwusi and other dignitaries are expected to honour senator.

Odunaro added that the anniversary of the ascension to the throne of the paramount ruler of Yewaland would also witness the public presentation of the autobiography of Oba Olugbenle titled 'Double Grace: Kingship and Service' under the co-chairmanship of Aliko Dangote and Lawan with Alhaji Abdulsamad Rabiu and Sir Kessington Adebutu as chief launchers.

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HAYATU-DEEN'S INTERACTIVE MEETING WITH PDP DELEGATES...

L-R: Former Minister of Youth and Sports, Solomon Dalung; former banker and presidential aspirant on the platform of the People's Democratic Party (PDP) Mohammed Hayatu-Deen; Minority Leader, House of Representatives, Ndudi Elumelu, and member of the Mohammed Hayatu-deen Campaign Organisation and former Minority Leader, House of Representatives, Hon. Mohammed Kumalia, at an interactive meeting between the Hayatu-Deen's campaign team and PDP delegates in Gombe...recently

Arthur Nzeribe, Founder of Infamous Association for Better Nigeria, is Dead Nigeria loses a political juggernaut, says Uzodimma Amby Uneze in Owerri Senator Arthur Nzeribe, infamous for the Association for Better Nigeria (ABN), the mastermind of June 12 annulment is dead.

He died at the age of 83.

A family statement issued on Sunday announced Nzeribe's death.

“While we are pained by this

loss, we are proud of this African legend who distinguished himself in various fields, including sports, international business, and politics, and gave the Nzeribe brand worldwide acclaim," said the family. “We appeal to the public to respect the privacy of the family and the solemnity of this event to enable us to grieve in peace."

A family source told THISDAY

Osinbajo: Why Results of FG's Insecurity Fight are Slow

Deji Elumoye in Abuja

The Vice President, Prof.

Yemi Osinbajo has explained that moves by the federal government to address the security challenges facing the country was slow in yielding desired results due to logistic reasons.

According to him, for the results to manifest, it would take some time because some of the equipment required to confront the security issues were not readily available.

Speaking at the weekend, while playing host to a delegation from the Christ Apostolic Church (CAC) led by its President, Pastor Samuel Oladele, at his official residence at Akinola Aguda House at the State House, Abuja, he stressed that some of the equipment and military hardware usually take some time to be delivered.

For instance, he recalled that the federal government ordered and fully paid over $469 million for the Tucano fighter jets about four years ago, but only got delivered last year.

But he assured that government was already, "getting a handle on it. Now we are reconfiguring our security, local ammunition manufacturing is on the cards and a lot of work is going on. We pray we see

some of the results soon."

Osinbajo also restated the seriousness with which the Buhari administration was confronting the security challenges in the country, noting the results and outcomes of the keen efforts of the federal government were certainly underway.

He said: "It's a huge country and with the security challenges, we need to ramp up resources, men and equipment. We need to ramp up the numbers, use of technology, get more military platforms and arms and ammunition."

He then affirmed that, "our country has potential if we can keep having honest leadership.

When I decided I will run for office, I thought, let's even put our minds to it. I have seen it for seven years and I know it can be done.”

Earlier in his remarks, Oladele while extending greetings and appreciation to President Muhammadu Buhari for his leadership, stated that he had always personally admired the president.

"I have been a great admirer of the president since he was Head of State and so we encourage him to do more for peace and prosperity of our country. We believe that all will be well with the nation," he added.

that the septuagenarian only had a domestic accident affecting his hip and was hospitalised in Abuja for 10 days, undergoing surgery.

Meanwhile, Governor Hope Uzodimma of Imo has mourned the demise of the maverick politician in a statement on Sunday by Oguwike Nwachuku, the governor's chief press secretary and media adviser.

Uzodimma described the death of Nzeribe as a "big loss to the people of Imo" and Nigeria.

"Senator Nzeribe reportedly died on Sunday at the age of 83, according to family sources, having been born on November 2, 1938," said the

Imo government's statement.

"Nzeribe will forever be remembered as a political juggernaut in Nigeria," added the statement.

Uzodimma said his death had robbed Imo and Nigeria of a "seasoned politician and business icon," noting that Nzeribe died when his "fatherly and statesmanly advice was badly needed."

On June 10, 1993, Nzeribe attempted to stop the presidential election by relying on a court order ABN got from a midnight ruling from the late Justice Bassey Ikpeme of the Abuja High Court.

The ABN backed the military dictator Gen. Ibrahim

Babangida's regime leading to the annulment of the June 12, 1993, presidential election, adjudged to be the fairest, freest, and most transparent in the history of Nigeria, won by MKO Abiola.

The governor commiserated with Nzeribe's family, the people of Oguta, and his associates.

Nzeribe represented the Orlu senatorial zone between October and December 1983 on the Nigeria People's Party (NPP)'s platform in the Second Republic.

At the return of the Third Republic, he also represented Imo West between 1999 and 2007 as a Peoples Democratic Party (PDP) member.

Nzeribe was born in Oguta, Imo, on November 2, 1938. He is the Ogbuagu, Oshiji, Damanze Oyimba of Oguta. He attended Bishop Shanahan College, Orlu and Holy Ghost College, Owerri.

He got a scholarship from the Nigerian Ports Authority in 1958 to study Marine Engineering in England.

"Indeed, his positive contributions to the political development of our dear nation cannot be overemphasised. He was a great political leader and great political scientist who touched the lives of many who came across him for good," said a statement by the Coalition of South East Youth Leaders (COSEYL).

Editors Take Self-scrutiny Town Hall Meeting to P'Harcourt Oghenevede Ohwovoriole in Abuja Top government officials, renowned scholars, leaders of ethnic nationalities, members of the Nigeria Bar Association (NBA), traditional/religious leaders, members of the civil society groups and others would lead conversation at the Nigerian Guild of Editors’ (NGE) Town Hall Meeting/Capacity Building Conference in the South-South geo-political zone tomorrow in Port Harcourt, the Rivers State capital.

With a theme: “Agenda Setting for Sustainable Democratic Culture,” the main objective of the meeting/capacity building workshop, which is supported by the United States (US) Embassy in Nigeria, is to scrutinise the performance of the media in consolidating Nigeria’s democracy – citizens’ verdict and outlining media agenda for the future.

In a statement by its President, Mustapha Isah and the General Secretary, Iyobosa Uwugiaren, yesterday, the professional body

of all the editors in Nigeria, said the meeting would also provide an uncommon platform for the media’s stakeholders to remind editors and other senior media managers of the sacred duties they are expected to perform by the constitution on behalf of the citizens.

The statement said the NGE had held similar meetings/ workshops in five geo-political zones: South-West, North-Central, South-East, North-West and North-East, before now.

Drawing abundant examples from democracies around the world, the editors added that the meeting – like the previous meetings, was expected to instill in the editors, the need to perform their duties - with the highest form of ethical standards and sense of responsibility.

Prof Benjamin Okaba, the Dean, School of Post Graduate Studies, Federal University Otuoke, who doubles as the President of the Ijaw National Congress (INC), would deliver the lead paper at the meeting.

“The town hall meeting will provide an uncommon platform

for media stakeholders to undertake self-introspection and also begin a conversation on a framework for media regulation, which will not only have their buy-in, but also improve the standard for media practice in Nigeria - thereby reducing, if not eliminate, incidents of sub-standard and unprofessional reportage in the Nigerian media.

“Such conversations and hopefully eventual adoption of self-regulatory framework, could also have a regional spin-off whereby countries within the region, and indeed Africa, could be encouraged to borrow a leaf from the Nigerian example, as was the case with the adoption of a Freedom of Information Act in Nigeria subsequently having a positive spin-off in Ghana’’, the NGE added.

The Town Hall Meeting would be followed by a two-day capacity building workshop for over 50 editors – selected from the print, television/radio stations and online newspapers.

On the expected impact of the meeting and the capacity building workshop, the NGE

said a pool of Nigerian editors and senior media managers would be galvanised and would be committed to the highest ethical standard and taking robust actions to ensure same.

Such editors and media manager would also be committed to the promotion and protection of the right to independent press, freedom of expression and the deepening of democratic space.

The statement added, “The NGE is hopeful that at the end of the project, a pool of editors will be mobilised to constantly projecting issue-based governance for the benefit of the Nigerian people – in line with Section 22 of the 1999 Constitution of the Federal Republic of Nigeria.’’

The NGE explained that the programme was also expected to stimulate the key stakeholders to act responsibly and continue to deny overzealous security agents/authorities the moral ability to take punitive actions against the media for performing their constitutionally assigned role to hold the government to account.

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MONDAY MAY 9, 2022 • T H I S D AY

T H I S D AY ˾ MONDAY MAY 9, 2022

17 Group Politics Editor NSEOBONG OKON-EKONG

POLITICS

Email: nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

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

Emerging Colours of APC Presidential Gladiators The N100 million fee placed on the presidential nomination form of the All Progress Congress has not in any way dissuaded presidential hopefuls from expressing their interest, writes Adedayo Akinwale

Tinubu

Amaechi

Okorocha

Fayemi

Olawepo-Hashim

Emefiele

Ken Nnamani

Badaru

State governor, Abubakar Badaru and the former Governor of Zamfara slState, Sani Yerima.

has the structure, friends or the political strategy to clinch the ticket of the party to realize his ambition is another thing.

Yemi Osinbajo Vice President Yemi Osinbajo summoned the courage to emerge from the shadow of his boss, Senator Bola Tinubu when he decided to take a shot at the plum job.

He said being Nigeria’s VP since 2015 has afforded him the opportunities to understand the diverse experiences and yearnings of Nigerians having been in the homes of many ordinary Nigerians in various parts of the country; and having sat with techpreneurs in Lagos, Edo and Kaduna, among others.

Osinbajo said, “I stood where they stood and I sat where they sat. I know their hopes and their aspirations and their fears. And I believe that in those hopes and aspirations are the seeds for the great Nigeria that we all desire.”

“I formally declare my intention to run for the office of the President, Federal Republic of Nigeria, on the platform of our great party, the All Progressives Congress,” Osinabjo had said in a video posted to his social media handles.

The competence of the Vice President was never in doubt. On the few occasions he acted as president, everyone felt someone was in charge of the affairs of the nation. Whether he

Senator Bola Tinubu The former governor of Lagos state, Senator Bola Tinubu has never hidden his desire to rule this country. He was the first to make his intention known to Buhari, saying there was nothing wrong if a kingmaker decides to become a king.

He told the President that he wanted to step into his shoes without stepping on his toes.

Though, Tinubu has not made a public declaration yet, he has also not presented his manifesto to Nigerians on how he intends to transform the country unlike other aspirants.

The APC chieftain while hosting former deputy governors last Thursday in Abuja said in spite of growing opposition especially from the South-west, he would win the primary election slated for May 30.

“For those who have decided to be an opponent, I will not dwell on that, let’s see who wins, but I want to win and I want you to work along with me and to convince more delegates,” Tinubu said.

As far as APC primary is concerned, Tinubu remains the man to beat. Observers however believe that the number of aspirants that have obtained forms especially from the South-west may deplete his votes during the primaries.

embarked on these outreach visits neither with prior assumptions about what they would yield nor with any sense of personal entitlement.

At his declaration, he also unveiled his manifesto and how he plans to consolidate on the achievements of the past seven and half years of the APC administration, while also addressing the noticeable gaps.

Fayemi said: “Compatriots, it is in the spirit of this abiding faith in our country and the promise of its unfinished greatness that I stand before you today, in total humility and with all sense of responsibility, to solemnly declare to all our party cadres and Nigerians at large, my decision to accept for my name to be put forward for consideration by the APC leadership and membership as the party’s standard bearer in the upcoming contest for a successor to His Excellency, President Muhammadu Buhari.

“After a careful consideration of where we are as a nation and the many perspectives which are emerging about the challenges, old and new, which we must gird our loins to tackle and transcend, I am convinced that my entry into the race to bear the standard of the APC will offer our members and Nigerians the opportunity to examine competing visions for national rebirth in the best interest of our country.”

Fayemi stressed that it was on the foundation of a clear vision accompanied by a carefully thought out programme of action that he presented Ms his candidature.

He made his declaration fully convinced on the basis of what he had experienced, heard, and seen about the demands of the times and the aspirations of the people that the agenda that he was proposing for the country was one which would find favour with APC members and win resounding traction with the generality of Nigerians.

Fayemi noted that as the standard bearer of the APC, he would be leading the implementation of a holistic and integrated response to the multifaceted security crises confronting us.

F

ollowing the decision of the National Executive Committee (NEC) of the ruling All Progressives Congress (APC) presided over by President Muhammadu Buhari to approve N100 million fee for the presidential nomination form of the party, tongues have been wagging, as it was described by many as clear show of arrogance; and corruption in governance taken to a new level.

But the party through its National Women Leader, Beta Edu said the amount was to curtail the activities of some people who obtain forms just to constitute a hindrance in the entire electoral process.

“We cannot afford to dabble or joke around or gamble around. So, we want only serious people who are interested in running.”

Nevertheless, it appears that the presidential hopefuls have beaten the party to its game as the number of presidential aspirants continues to increase each day. Already the party has 24 presidential aspirants.

The aspirants are: the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, former Governor of Ogun State, Senator Ibikunle Amosun, the Senator representing Ondo-North senatorial district, Prof. Ajayi Boroffice and the Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu, former Speaker of the House of Representatives, Rt. Hon. Dimeji Bankole, successful businessman, Gbenga Olawepo-Hashim and President of African Development Bank, Akinwumi Adesina.

Others are: Governor Yahaya Bello of Kogi State, Ebonyi State governor, Dave Umahi, former Imo state governor, Senator Rochas Okorocha, Minister of State, Education, Hon. Chukwuemeka Nwajuiba, former Governor of Lagos state, Senator Bola Tinubu, former National Chairman of APC, Adams Oshiomhole and Uju Kennedy, the only female aspirant.

Also in the race are: Pastor Tunde Bakare, Vice President Yemi Osinbajo, the youngest presidential aspirant Nicholas Bello, Ekiti State governor, Dr. Kayode Fayemi, Minister of Transportation, Hon. Rotimi Amaechi, former Senate President, Sen. Ken Nnamani and Minister of Labour and Productivity, Chris Ngige, Jigawa

Kayode Fayemi The Governor of Ekiti State, Dr. Kayode Fayemi ended months of speculation when he finally declared to contest for president. He said he

Nevertheless, it appears that the presidential hopefuls have beaten the party to its game as the number of presidential aspirants continues to increase each day. Already the party has 24 presidential aspirants

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

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PRESIDENTIAL INTERVIEW SERIES IV

“

What I am saying is that I have done it as a private citizen. I have done it in the corporate world. You can verify from where I served as board chairman in a bank and other places.

They did not buy me any car or tyre

“

Peter Obi: Why Nigeria is Qualified as Failed State

H

e tried to quietly walk through people unnoticed, unfortunately, former governor of Anambra State and presidential hopeful, Mr. Peter Obi, is not just a household name, but a familiar face everywhere he goes. Much as he struggled to mind his business with his usual no airs on this particular day of the interview, he was still waylaid by fans and admirers, who either wanted to enlist as volunteers for his presidential campaign or just some selfies for keeps. The Southern Sun Hotel, Ikoyi, was the venue, as both Obi and his media guests were pressed for time. Thus, at one nondescript corner of an open space on the ninth floor of the hotel, Obi shared with THISDAY, his aspirations, the problems with Nigeria, why the presidency must come south and what the future looks like, depending on the choice made at next year’s general election. Excerpts: Continued on page 19

T H I S D AY • MONDAY, MAY 9, 2022

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PRESIDENTIAL INTERVIEW SERIES IV

To Fight Corruption, Deal with People Managing Public Funds things have changed. So, we must now abandon transactional politics to transformational politics.

We must now understand that we need to do something now to pull people out of poverty, or we will all crash and everyone will be consumed, because anarchy consumes everyone.

You were former Vice-President Atiku Abubakar’s running mate in the 2019 presidential run and today, you are in the same contest with him on account of the quest for southern presidency. How do you think this will sit with him, having found you worthy to be paired with in 2019?

Let me start by telling you that he is somebody that I respect. He is somebody I am happy to call my leader. And he’s somebody whom I will ever remain eternally grateful to for the opportunity he gave me at the time by choosing me to run with him. In doing what I am doing today, I respectfully went to him and told him why it is necessary for me to be in the contest.

I have his blessing. For me, politics is about relationships. We are not in a war. We are just seeking an opportunity to help build a better nation. And he sees it in the same way. He still sees me as his younger brother and I see him as my elder brother and we are having a cordial relationship – just sharing our ideas to let the people make their choice.

Recently, some of the south-east active political players, including yourself, came together to forge a common front. Was it a panic reaction to PDP’s consensus move?

There was no panic there. We were just thinking together, because we all have a common problem.

It was all about thinking together and working together. It was not about consensus.

Talking about Southern Presidency, do you honestly think that the grounds for the demand are truly just in the PDP, given the arithmetic of how the party has so far shared power between the north and the south, which clearly puts the south ahead of the north, in democracy’s 23 years?

Let me tell you, forget the mathematics and the party issue. Those shouldn’t be the case.

The case is when you live in a diverse multiethnic society as ours, what makes a difference is your ability to share and accommodate. That is what makes a difference. A society like ours makes the cohesion work perfectly. They are, accommodation, sharing, love and making sure that your decisions are based on justice and fairness. If you are looking at the justice of this issue of presidency, you will find out the reason why it should go to the south. And in a multinational society, you must think about cohesion.

It is one thing to get his blessing and another for his supporters to understand. Will they not see you as a betrayer?

No. I do not think that they will see me like that. You can even see that I was there when he launched his campaign. I have said that this is not a war. I came from a background of trading.

We train young people to learn how to trade.

Eventually we settle them and they are doing the same business with us, even selling the same product. Whenever a customer comes and buys from whomever he wishes to, we are happy. But they will still see me as their master. That is the same thing I do with him.

I still see him as my leader even when we are doing the same trade.

But the Southern demand is pitched to some kind of entitlement, isn’t it?

No, no. There is no entitlement in it. This is an unwritten understanding in our constitution, where we said, you go and next time it will be me. It is an understanding and there is nothing wrong in it. It is done everywhere, even in corporations and businesses; we try to bring in equation. You’ll see some institutions that are owned by people from one tribe going to bring directors from other places just to show that semblance of cohesion even when they can put only themselves. It’s not ‘Obi and Sons’ and therefore only Obi will be there.

Just so everyone is clear, and for the umpteenth time, why do you want to be the President of Nigeria?

I believe that I have the knowledge, the vision to solve the problems. I have an idea what the problems are all about. And I think that I can solve them. Nigeria is in dire straits and we need somebody, who will be in control of the process of changing the situation. I think I can do it.

What therefore, in your views, are the problems of Nigeria?

Of course, you know them. They are issues of unity/cohesion, because Nigeria today is so divided. We do not trust each other. We do not love each other. We do not care for each other.

And of course, we have the issue of security.

Nigeria is totally insecure.

I often say to people that Nigeria has qualified for two major yardsticks of a failed state, which is when you are no longer in control of your territory and when you are no longer in control of your economy. As you can see today, we are not in control of both. This is critical and for me, I have the idea of how to deal with these two issues.

Why do you think your stewardship and experience in Anambra qualify you to be the President of Nigeria?

You need to go deeper into my background.

When you talked about ‘am I qualified’, I will want you to look first at my educational background.

Then, you look at my private sector background.

I am a trader. I have operated in the corporate world and I have been in public life. Maybe, apart from Atiku, nobody in the contest has been through the processes I have been. In terms of education, I have been through the four walls of the best educational institutions in the world.

I have been a trader so I know what the micro, small and medium enterprises (MSMEs) are suffering in this country. I still live in Onitsha where I started my trading, so I still interface with them till today. I have also operated in the corporate world, where I was a director and chaired the board of many corporations. I have even been the chairman of the Securities and Exchange Commission (SEC). And I have operated in public life. Nobody has been through this.

They are either politicians who started from lower positions, but I have graduated in every sector. So, who is more qualified? I can deal with the security issue, governance issue and I can deal with the economy, because I understand what needs to be fixed. I have lived in the western world, at least, I lived in The United Kingdom for 10 years. I have travelled all over the world, to at least, 30 countries looking and comparing them with Nigeria.

But how many people know Peter Obi outside the South-east, particularly, in the Northern hemisphere, say Borno, Sokoto or Jigawa, for instance?

Let me tell you, there are so many people who have become presidents all over the world, including here in Nigeria, that people did not know everywhere. But those who know me

will be able to say, ‘we trust this man can do it.’ They can go and verify from where I have passed through. As a trader, I can tell you that we used to pool our resources together, when one person is travelling and give him to hold and manage. To date, this is the situation with me.

I have so many people who have said to me that we can trust you with this. As someone in the corporate world, you can go check the institutions I have passed through and ask them about my contributions. My public life is there for you to see. My record is clear in terms of what I did and didn’t do.

like ours, can hardly be in control. It is a transactional system and people will believe those whose politics are based on transaction.

But I can actually tell you that I am in control of my area. The best result PDP got in the 2019 presidential election was in Anambra State. It achieved 96 per cent of the votes, because I was involved. PDP could not achieve this in any other state. It did not achieve more than 80 per cent in any other state except in Anambra, where it got 96 per cent. So, I am in control of the area. But that is not even my issue because being in control will not solve our problems.

How is it becoming Nigeria’s president without a political base? Not even the state you governed for eight years is in the bag. So, if you could not control your political base, how would you be able to galvanise the whole of Nigeria?

I have not seen anyone who is totally in control of his political base. When Bill Clinton became President of the United States of America, he was quarrelling with everyone in his state of Arkansas. Even Jesus was not supported by his people when he was evangelising. When Obasanjo became President, he was not in control of the South-west. Yar’Adua was not in control of his base. Tell me who was in control of his area, when they came to power? It is all about who is the best candidate. What do we want and what are we looking for?

Oftentimes, good people are not actually in control of their areas, because those who are good, especially in a transactional country

You have been going around the country speaking to delegates on why they should vote for you ahead of your party’s primary election. How are things looking for you?

We cannot continue the process of yesterday, which was transactional. We must change. I am telling them to forget yesterday. Those who think about yesterday and today will miss tomorrow. Yesterday was about sharing and consumption. But what we are sharing and consuming are finished. We now want people who will create and produce. And that is why my chief theme is to move the country from consumption to production; from sharing to creating.

They are two different things. I am making them look at the society their children are going to live in. It is not going to be easy, because people are still attached to the process of yesterday. You cannot use the same process of yesterday to change tomorrow, because

“There is nothing you do in this world that people do not know. I once told somebody that I do not have a house in Abuja. I challenged him to investigate and seize any house belonging to me directly or indirectly in Abuja. But I have a house in Onitsha.

The life I live is consistent. I am not living it to please anyone but myself. So, where is the double face?”

Don’t you think that there can be some kind of persuasion against the seeming threats from Southern leaders, who are saying that abandoning zoning will bury Nigeria?

We in the presidential race are not the ones issuing those orders. They are coming from the leaders of various ethnic groups. And they are doing it rightly. When people talk about other peoples’ stand, it is what you bring out that you are given back. But it is a communication thing and I believe in dialogue and consultation.

Do you not think that throwing the ticket open is PDP’s best bet so no one will feel deprived?

Well, I do not know what they will do. But whatever they do, PDP is still my party and I will respect it. But let whatever they do be based on justice and fairness. They should look at where we are beyond today, and how it will fare for us tomorrow.

Think about this, for strategy towards an electoral victory, do you not think going north is PDP’s best bet, considering that the numbers are said to be up in the north?

Numbers are everywhere. The most important things are consultation, dialogue, respect and justice. Anything you do based on these, the numbers can be anywhere.

Demanding the Southern president is one leg of the agitation but determining which zone is another?

For me, the concentration should be who will do the job. I have said that whatever we do, should be based on justice. After that, the next thing is who will solve these problems. We are wasting considerable time on what is an issue but not the core issue. The core issue is that all these things are coming, because the promises made in 2015 were not kept.

When this particular government was coming in, the issues were security, economy, corruption, food and everything. Do you think we will be talking about zoning or no zoning if they had been solved? We may but the language will be different. Let us stay with the issues and why we are where we are.

But do you not think that it is sheer hypocrisy to ask the north to relinquish the ticket to the south, when the south itself has yet to resolve which zone will take it?

Continued on page 20

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I’ve Never Worked in Bank, I’m a Trader Which zone has settled for one person?

There were 13 people from the north in 2019.

Why is it difficult for the South to say, it is time for the South-east?

Everything has its own steps. We are talking about the South. We cannot micro-zone, when we have not achieved the main purpose of getting it to the South. Let’s deal with it the way it is. Yes, I agree with you when we are talking about justice. We are dwelling too much on a fundamental issue while leaving even a greater fundamental issue of where we get a competent person that will solve these problems. The question you asked is on the issue of working together. And we are actually working together. Quote me anywhere. It is just when you do not want somebody and you taint him with all sorts of colours in order to say that he is not qualified.

Do you think getting the president in the South-east would calm nerves and check the restiveness in that region?

Well, it will go a long way. But remember that agitation is not solely in the South-east.

There is agitation everywhere now in the country as a result of leadership failure over the years. There is agitation in the South-east and everywhere and even more criminality in the north than it is in the south-east.

But I believe that if we have a purposeful leadership, it will go a long way to calm nerves; it will go a long way to even start making people have a sense of feeling that we have a nation. Leadership is about giving people hope. Government must give people hope, though no government has been able to solve all the peoples’ problems overnight.

But there must be a sense of hope. In Nigeria, there is a sense of hopelessness.

Does the opinion that a president from the South-east will make secession easy for the zone, matter to you?

I do not think so. Not at all!

There is also the issue of trust between the north and the South-east because of the January 1966 coup.

I have said that those who think about yesterday and today will miss tomorrow. We have passed that stage as a nation. We are talking about how to put food on the table and get our children to work. Yesterday is gone. In the world of today, those things have passed and the country has moved on.

We are living in a scientific world, where things have moved beyond where they were.

How do you assess your acceptance in the South-east?

It will be overwhelming.

What gives you that confidence?

I am just telling you. It will be phenomenal.

It will not just be South-east, it will be globally.

Let me tell you, I am prepared for this job and have consulted widely, both locally and internationally. I have driven this process where people will see a different country, because I will come and touch an area that will change the place. I will build the intangible assets of the country as quickly as possible.

Each time you speak about governance and leadership, your positions always attract applause from Nigerians but the opposition feels you are just theorising.

What through your own lenses, constitutes the realities of today’s Nigeria?

Nobody can say that I am theorising after I have done it somewhere else. The best President of the United States of America in recent times that we know is President Clinton.

He was voted purely on the work he did in Arkansas. When he came, he dealt with the economy of America. He nearly had a balanced budget. In Nigeria, I can say today (though I do not know about other people) that I was a governor who never borrowed a penny from any bank or financial institution.

Even when I tried to get a multilateral agency, the World Bank, to lend me money through the new map for STEM education, I planned a 40-year loan and planned how I would save in dollars to repay it. The most important thing for me is that I need to invest in the greatest measure of development, which is the human development index. The statistical measure of long life, life expectancy - that is, health, education and per capita income.

One deals with health; one deals with the most critical asset for development, which is education and the other one deals with pulling people out of poverty.

Go and check the records, as governor, I was the best in Millennium Development Goals (MDAs) in Nigeria. I started in 2007 and by the time it was completed, in Nigeria,

“…even in corporations and businesses; we try to bring in equation.You’ll see some institutions that are owned by people from one tribe going to bring directors from other places just to show that semblance of cohesion even when they can put only themselves. It’s not ‘Obi and Sons’ and therefore only Obi will be there” I was number one. I even spoke at the United Nations to show what I did. I was the first governor to do poverty mapping in Nigeria.

I have a statistical record of where poverty was domiciled in Anambra State. I have a record of why those people were poor. I was able to study it, articulate and situate it very well. I knew that in the rural areas, we had poverty because they had no access roads.

They were farmers but had no access to the market.

Go and ask the Office of Statistics that did the statistical record; go and ask Mr. Kpakol, who was in charge of poverty alleviation in Nigeria, who was the best governor, when he did it. In education, I moved the state from where we had boy/girl issue in education, because the boys were not going to school. I brought the boys back to school; from where we were 26 or 27 position in WAEC to number one. Our schools were equipped. Till date, nobody has matched the 30,000 computers we bought from HP and distributed them to all our secondary schools.

They all had generators and other school infrastructure we developed. We put a lot into education. We did a similar thing in the health sector. When I became governor, there was no single school of nursing, midwifery or health technology in Anambra State that was accredited by the regulatory agencies that were supervising them. But by the time I left, I had about eight to 10 of them and they are all there for those who want to verify.

School of Midwifery, Waterside Onitsha; Iyi Enu School of Nursing; Iyi Enu School of Midwifery; St. Joseph Adazi School of Nursing, School of Midwifery and School of Health Technology; Our Lady of Lords School of Midwifery, School of Nursing in Ihiala; and Amichi Hospital School of Nursing.

These were not there when I took office as governor. You cannot talk about Primary Health Care without having the basic institutions to produce the critical manpower to deliver it.

And I can go on and on. So, it is not a question of saying, I am theoretical, because I have done it somewhere. I was among those who won the Bill Gates Prize and I was number

one in MDGs. It is a prize given by the United Nations and the Office of the Presidency. I was not a PDP governor then. It came to me, because they saw the implementation. And above all these, I still remain the governor that left behind the highest amount of money ever by any governor. These monies were in Nigerian banks.

Curiously, the Nigerian problem has been consistent. But what has remained inconsistent are the approaches to solving them.

Unfortunately, the opposition thinks that your positions border on cheap populism, that they can hardly pass the test of real solutions and often draw references from areas that do not share similar situations with Nigeria.

Let me tell you, I think that I differ from where you are. Nigeria’s problems are cumulative effects of leadership failures over the years. I said I have shown an example somewhere. Do you know what Anambra State used to be before I came on board? It used to be a reference for what was wrong.

Simple! It wasn’t even called ‘Home of the Nation.” It was called “Home for All.” What did it become when I came? It became “Light of the Nation.” And I showed that light. I moved the state from number 27 position in WAEC to number one. In the NECO, we had the highest cut off point to date.

So, what else would someone show you?

It is said that “if you can be trusted with a penny, you can be trusted with a Pound Sterling.” I have demonstrated these things, so, I am not merely preaching. When I came, I met over N30 billion liabilities in pensions and gratuities. I paid them and on the day I left office, I was not owing gratuity, nobody was being owed pension; nobody was being owed salary for those who worked for the state government. No contractor was being owed for the job that was executed and certificate issued.

No supplier was being owed for supply that had been delivered and executed and on top of this, I left in three banks in Nigeria, namely Access, Diamond and Fidelity Banks,

$50 million and over N10 billion. So, what else?

Can those who are talking show me examples where they have done similar things? I have somebody who accused me and said, “Peter Obi left money but he took the interest.” I told him that I wish that everybody in Nigeria would have left the capital and ‘chop’ the interest, we would have been celebrating all over the world. But they took both the interest and the capital. I will assure you that the state government has not bought me a sachet of ‘pure water’ since I left office.

Nobody paid me the severance package that I am supposed to be entitled to. But I said, I’ve finished and I’m going home.

What I am saying is that I have done it as a private citizen. I have done it in the corporate world. You can verify from where I served as board chairman in a bank and other places. They did not buy me any car or tyre. I was chairman of the SEC and the commission did not buy me a car or a tyre.

Nothing! Even going to their meetings, they never paid. I didn’t even drink water there.

I didn’t. So, what else do people want?

But did you truly take the interest on those deposits?

No! The bank statement is there for them to calculate.

However, did you consider the opportunity cost of saving that money in a state that did not even have pipe-borne water?

No! No! No! Let me tell you. Go and check what we were doing with water. We had already awarded a contract to a South African firm to deal with water in Onitsha. But it was abandoned when I left office. Development is not going to happen overnight. You do it in an organised manner. I have been to many countries. The first time I visited China was either in 1985 or 1986. I would arrive in Hong Kong and go by a rickety train to China. I saw China with bad roads and when you stay in a hotel, in the morning, you would leave your room and walk to another end of the hotel to run your shower and every person would be bathing there.

But today, where are they? One thing was unique when I was going there. China was investing in education. They were serious about it. They knew that one thing that is critical in development is education. The more educated you are, the more developed you are. I have been to the Philippines. I saw the Philippines when one would have said that I don’t want to be part of this place again.

Today, the Philippines has become everything in the world. They first invested in education.

The Philippines now receives over $50 billion in diaspora remittance in a country of about Continued on page 21

T H I S D AY • MONDAY, MAY 9, 2022

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PRESIDENTIAL INTERVIEW SERIES IV

We Must Change Our Transactional Yesterday 100 million persons.

I am calling nations that have similar populations with Nigeria. I’ve spent a week plus in Bangladesh and was in its villages. I actually went there to study their microcredit system to their MSMEs, and I can tell you that it was shocking that you would see women in villages, in mud houses educating their children. When I arrived at their airport, I felt like turning back. All sorts of characters were there. The whole place was dirty. I couldn’t sleep in the hotel where I stayed. Today, those women are the people who are dealing with the garments. They have changed. Today, they are exporting garments of $36 billion, which is more than twice what we are earning from oil.

I have been to India. I went to Bombay when you would not want to pay a second visit. I have travelled to countries, studying to understand why we are where we are. I have been to schools and have met great lecturers, who wrote great books like The Tiger by Your Door: The Chinese Invasion.

And I have seen what they did. They didn’t have to borrow money the way we are borrowing. They just made sacrifices. They denied themselves those things we are not denying ourselves in order to build a better future. That is what I want to do. That was what I did in Anambra State.

borrowing, because where we are today, we must borrow. But the difference is that we are going to borrow strictly for production and no longer for consumption.

There is nothing wrong with borrowing.

People are borrowing every day and investing every day. We do the same thing in corporations. Every country owes but it is how it is used that makes the difference.

Is borrowing for business and borrowing for a wife’s party the same thing? Nigeria has been borrowing for consumption, parties and picnics. But that has to stop.

So, what are the issues: insecurity, corruption and a tottering economy. What do you reckon are the solutions?

Dealing with security is two ways. There is something you call natural security and defence security. Natural security is that people must have means of livelihood. The more you bring people out of poverty, the more you reduce criminality. If you do not know where the next meal will come from, nobody can say what you can do. Again, my studies of Brazil, Mexico and others showed that Brazil used economy, sports and everything to pull people out of poverty. And it is happening all over South America. There are varieties of things to pull people out of poverty through various means. Allow the MSMEs access to training, capital and of course, less harassment.

Nigerian young people are very talented.

They are first class and I know that they just need to be energised and they will move.

For the security forces, ensure that they are properly manned. Egypt with a 100 million population has one million policemen. I was in Morocco in April and it has multiple layers of police. Nigeria, look at the number. Security is a renewable asset. You do not buy them equipment this year and fail to do so next year. You buy it every year. I have done it in Anambra State, where I made sure that every community had a security outfit that was supported and paid by the government and I gave every community a vehicle.

On the issue of economy, the engine of growth of any nation is the MSMEs. They control 98 per cent of companies in Indonesia and generate 80 per cent of their employment.

Nigerian young people can do the same. I know what to put in them to trigger them.

Corruption, I can say it; it’s simple. Why? If you, the principal person, your family, your relations, friends and those around you are not part of it, you will reduce it by 60 per cent. I have managed resources in Anambra State and go and show me where it is missing.

Then, I am going to get all the agencies to do what they are supposed to do.

Let me tell you, I am not going to have a corruption agency that is busy getting involved in loan collection; getting involved in harassing people. No! They will focus on those who are managing public money.

The reason Nigeria is not doing well in the corruption index is because it is measured only in one item: management of public trust and resources. It is not about debt collection.

We will deal with those who are managing our public funds. What you do with your private finance is not our business. If banks have problems with their clients, they should sort them out, because banks do not lend money to everyone.

How do you mean?

I want people to understand that I need their votes. The people have to look at all of us and believe and say, ‘this is the man.’

Nobody can question my background. You cannot question my educational background.

So, it is not an issue. You cannot question my trading background. It is not an issue.

You cannot question my corporate world background. It is not an issue. You cannot question my public life background. I have shown it everywhere. I am not saying that I am perfect. But when somebody goes for an exam and scores above 75 per cent, that candidate would have an ‘A’ grade even though it is not 100 per cent. Why? Because once you score 75, you can generalise without committing fallacy of generalisation.

In this case, I have scored 90 per cent in every sector. So, what else are you looking for? Go through my record as a trader where traders came together and put their money in my trust and I kept it. From there, you go to my corporate world, where I was director and chaired corporations. People think I have worked in a bank. I never did.

I was a trader but they just put me on their board and considered me worthy to chair a bank. I have built trust. None of the banks I chaired ever bought me cars or a tyre.

And I moved on. I said I was the chairman of SEC but they never bought me anything or gave me any allowance. I was a governor for eight years. Go and check my record. Go to Anambra State, I did not have a single land allocated to myself or any of my relatives when I was the governor. The state has not paid me any entitlement since I left office.

And while I was governor, everybody knew what I did, or did not do.

As president, how do you intend to close the gap and foster unity in the country?

I will make sure that I consult and work with everyone. You show everybody love by bringing everybody to the table. Most conflicts you are seeing today are when people are not allowed to come through the door.

Bring everybody to the table so that they will see what is being shared. Just as I have said, what we are sharing has finished, you bring it to the table so that everyone will see that the pot is empty. But do not go and be eating and say that it is empty.

What do you think is standing in your way to becoming the President of Nigeria?

The people!

They should go through the legal means and collect their money. Simple! Throughout the time I was in the banking system, I cannot remember any lending that I was involved in that failed. That is why I challenge people to go and investigate how I managed Anambra State’s money. Let me tell you, no thief sees what he can steal and leaves it. It has never happened anywhere on the surface of the earth. The thief did not come to church to steal. He actually came to pray. But because it is in his nature to steal, when you leave your things carelessly in the church, he will steal it.

So, for me to leave N75 billion that I could have converted and taken away, merits an award. But, unfortunately, I am actually the criminal for saving money, because we are in a criminalised society. I was impeached for saving money. And I can tell you that today, all manner of people are investigating me for saving money, when I could have converted it into anything and taken it. I saved $156 million. Not even Nigeria saved in dollars.

I should have a first-class award for that. I saved both in local and foreign currencies.

And I have the equivalent of that invested in corporations.

I did it because I had a plan after studying what China did to pull their people out of poverty by investing and trusting micro and small businesses. So, I said if we save this amount till the year 2030, we will have like a billion dollars that we can inject into the system, where we would have had nearly 2,000 small businesses all over Anambra State.

It would have been a revolution that would have driven the whole country. That was what I did. I was doing it carefully and denying

“We in the presidential race are not the ones issuing those orders. They are coming from the leaders of the various ethnic groups. And they are doing it rightly. When people talk about other peoples’ stand, it is what you bring out that you are given back. But it is a communication thing and I believe in dialogue and consultation”

myself everything that I would have enjoyed in office. Now people are investigating me and treating me anyhow when the criminals are being celebrated day in day out.

Against this backdrop, do you regret the choice of the person you made your successor?

No. Once you have moved on in life, you move on. You don’t look back because God did not give us eyes to be looking back.

In fact, I will hold the people responsible, because institutions are designed and created by government and the society owns and operates them. People should have asked about the money this man saved, where is it.

Are you not demoralised that people are blaming you for saving the money?

Not at all! I will always save. It is critical, especially when you have a diminishing asset like crude oil. You must save for tomorrow.

This oil we are enjoying today belongs to us and our unborn children, so we must save.

Saving is part of me and I must save. Every country in the world must save even when every country borrows. Norway with the highest amount of sovereign wealth fund still owes 50 per cent of its GDP. Are you likely to scream at the actual state of things when you assume office?

I always say that I know the problems. And I am always worried when people do that.

Are you saying you won’t feel overwhelmed at the actual state of things?

The job of a leader is to solve problems and not to be overwhelmed and scream, even if they are worse than you thought. You are there already and your job is to solve them.

It is like you are thrown into a ditch, it will not be enough for you to start complaining but to start getting out of it. Screaming cannot save it. The job of a leader is not complaining but about solving problems. And remember that people do not expect 100 per cent results.

They expect 100 per cent effort. That is all. I’m trying to do this. As governor of Anambra State, I quarrelled and disagreed with people.

I didn’t achieve everything but I put in the best of my effort. I have told you already that we have nothing to share. We are in bad debt. When I go there, we will not stop

Some of your former colleague-governors hold the view that you are a pretender and that your so-called spartan lifestyle is what you have continued to sell to people. Who really is Peter Obi? What else can you sell if you have a product? What do you sell when you go to the market because I’m a trader? You sell your product. What I am selling has been consistent. My name is Peter Obi and I’m selling Peter Obi. The way you see me is the way I’m. The life I am living today is the life I lived when I was a governor and before I became governor.

Are you double-faced?

There is nothing you do in this world that people do not know. I once told somebody that I do not have a house in Abuja. I challenged him to investigate and seize any house belonging to me directly or indirectly in Abuja. But I have a house in Onitsha. The life I live is consistent. I am not living it to please anyone but myself. So, where is the double face?

Beyond the agitation for South-east presidency, do you think you will make a good president of Nigeria and what is your dream Nigeria, projecting into post-2023 election?

Put me on a scale with everybody and measure us and tell me whose credentials are better? I want to serve my people. I want to give the young people of this country hope to be proud of their country and to call it their own, so that they can believe in it. And you will see change in every area. Thank you.

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T H I S D AY ˾ MONDAY MAY 9, 2022

CITYSTRINGS

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

NAFOWA: Complimenting NAF's Operational Efforts through Empowerment Chiemelie Ezeobi reports that whilst the Nigerian Air Force is focused on operational efficiency and protecting the nation's territorial integrity, the Nigerian Air Force Officers' Wives Association, NAFOWA, on the other hand, is complimenting their efforts with empowerment of dependents, widows of deceased personnel, as well as the less privileged in the society

Cross section of the skills acquisition and vocational training graduands

One of the beneficiaries receiving a starter pack from the CAS and Mrs. Amao

U

ndoubtedly, women have a significant role to play in the socio-economic development of any society. For the Nigerian Air Force Officers' Wives Association (NAFOWA), this rings true as they have been bestowed on the responsibility to empower its members, dependents of serving personnel as well as the less privileged in their respective host communities.

For more than five decades, the group, which started as a tea party for wives of officers, soon evolved to actually carry out with different programmes aimed at empowering women and barrack youths to acquire skills in order to be self employed.

With their motto as "Service to Humanity", the focus of the association has been to reach out to the less privileged in the society especially women, youths and children through programs that add meaningful value of human existence.

Skills Acquisition, Vocational Training How do they actually do that? Over the years, the association, as part of its community service obligation, developed different skills acquisition and vocational training program targeted at women, widows and youths in the barracks and surrounding communities.

This program is done as part of their contribution at complementing the federal government's effort to curb unemployment amongst youths. It is also aimed at building capacity of women by empowering then with necessary skills for self reliance so that they can better cater for themselves in a changing economy. It also caters for widows, especially those who lost their husbands in the campaign against insurgency in the North-east.

Essentially, the focus of the training program is on vocational trades and skills that can easily be converted into small scale businesses so that a steady means of income is created for the beneficiaries.

The training is carried out in the areas of computer studies, aluminum fabrication, leather shoes and bags fabrication, tailoring, hairdressing, catering and baking, events decoration, interior decoration, makeup artistry, beads making and laundry items production.

At the end of the training, the participants partake in an exhibition where they show off their newly acquired skills and are awarded certificates.

NAFOWA's Complimentary Role to NAF It would simply be stating the obvious to highlight that NAFOWA is to NAF what the knife is to the yam. It is also undeniable that while NAF personnel are focused on protecting the nation's territorial integrity, NAFOWA is busy protecting the homefront and its environs by carrying out empowerment programmes that are far-reaching.

This sentiment was recently re-echoed by the 21st Chief of Air Staff (CAS), Air Marshal Oladayo

CAS and NAFOWA National President Amao, who commended NAFOWA's effort at empowering dependents of NAF personnel and the less privileged in the society.

Stressing that such efforts have impacted positively on ongoing NAF operations, the CAS further opined that such humanitarian assistance and knowledge acquisition programmes

by NAFOWA has helped to keep the home front stable thereby ensuring full commitment on the part of NAF personnel in the discharge of their duties.

Speaking at the recently held graduation ceremony of the NAFOWA Skills Acquisition and Vocational Training Programme at the NAFOWA National Secretariat, Abuja, the CAS noted that NAFOWA’s efforts were also in line with one of the key drivers of his vision that harps on pursuit of purposeful training and human capacity development.

He went on to state that the training acquired by the graduands will no doubt complement the numerous poverty alleviation programmes of the federal government aimed at reducing unemployment, especially amongst youths and women.

He added that, "the programme was a means of financial independence, self-reliance, prosperity and personal

development for the beneficiaries and their families and when the acquired skills are combined with other forms of academic endeavours, it offers infinite options and opportunities for employment and self-actualisation."

Air Marshal Amao also urged the graduands to make the best use of their starter packs, just as he appealed to the organisers of the vocational training programme to monitor the beneficiaries’ progress with a view to ensuring that the objective of the programme was achieved.

Earlier in her welcome address, the NAFOWA National President, Mrs Elizabeth Olubunmi Amao, noted that in her quest to provide service to humanity, she had explored several options that could add meaningful value to the lives of women and youths in NAF Bases across the country.

"This quest", according to Mrs Amao, "led to the birth of the vocational training programme".

Expressing delighted at the seriousness and zeal with which the participants of the programme approached the training, she hoped that the skills acquired will enable them to kick-start their dreams of becoming vibrant entrepreneurs.

She also thanked the CAS for his continued support and encouragement to NAFOWA, stressing that the association would continue to keep the spirit of ‘Service to Humanity’ alive by embarking on similar projects that touch lives positively and make a difference to daily existence.

Highlights Highlights of the occasion were the presentation

"NAFOWA will continue to keep the spirit of ‘Service to Humanity’ alive by embarking on similar projects that touch lives positively and make a difference to daily existence"

of starter kits to the graduands by CAS, as well as a tour of exhibition stands by dignitaries to inspect and patronise products made by the graduands.

Some of the starter packs handed over to the graduands included flour mixers, soap making tools, wig making tools, industrial sewing machines, among other accessories to the graduating students.

According to NAF Director of Public Relations and Information (DOPRI), Air Commodore Edward Gabkwet, this edition of the NAFOWA Vocational Training is the second under the leadership of Mrs Elizabeth Amao with 60 participants undergoing 12 weeks of intensive training in various vocational trades.

He said; "The participants were drawn mainly from widows of deceased personnel, dependents of serving personnel, orphans, youths and women from host communities who are largely unemployed or underemployed."

Among the dignitaries that graced the occasion were the NAF Chief of Training and Operations AVM Jackson Yusuf; Chief of Accounts and Budgets, Air Vice Marshal John Ochomma; Chief of Medical Services, Air Commodore Olabode Babalola; Directors from headquarters NAF and other invited guests.

Mrs. Amao's Holistic Empowerment As the 21st National President of the Nigerian Air Force Officers Wives Association, Mrs. Elizabeth Olubunmi Amao set out to holistically touch the lives of all members, as well as the less privileged in the society.

So far, she has succeeded in tackling education, health, skill acquisition and vocational training for members and the less privileged, while carrying widows of late military personnel along.

In fact, under her leadership, the association has taken its CSR beyond the wall of the Air Force bases into their host communities and those living around the different Air Force bases, thereby going a long way to improve NAF's civil military relationships.

Beyond this, Mrs. Amao has tried to make a difference by supporting educational pursuits, making donations to hospitals, boosting cancer screening, advocating for gender advancement, amongst others. Also, the association thrives in skills acquisition and empowerment programmes to ensure self-reliance.

All these she has done despite the fact that NAFOWA is a non-governmental organisation.

Therefore, the association gets funding from the goodwill of the members of the public, corporate organisations, voluntary donations of members and enormous support of the NAF to carry out charitable activities in different communities across the nation.

While championing these causes, she has inadvertently uplifted lives, harmonised the members while helping the NAF in boosting its civil military relations with its respective host communities.

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T H I S D AY MONDAY MAY 9, 2022 Monday May 9, 2022 Vol 27. No 9891 TR

See page 26 OMOKRI’S MISCHIEVOUS POLITICAL CALCULUS JOHN OTU argues that the piece, ‘2023 Political Realities that Annoy and Heal’ is unfortunate See page 26 THE SENATE AND THE PAYMENT OF RANSOM The bill criminalising the payment of ransom to kidnappers is ludicrous, argues CHIMEZIE ELEMUO See page 31 SECURING THE PEACE IN KOGI Kogi State holds lessons for Nigeria, writes ABUBAKAR ACHIMUGU See page 31

EDITORIAL DOMESTIC FLIGHT OPERATIONS IN NIGERIA

See page 32

& RE A S O

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opinion@thisdaylive.com

www.thisdaylive.com

OF NIGERIAN AVIATION AND FUEL CRISIS Inadequate supply of Jet fuel and price volatility are significant sources of disruption to flight schedules, writes FELIX OLADEJI

UT H

There are plenty crude assets awaiting the next administration to reap, reckons KANYA WILLIAMS

POTENTIAL DOLLAR BOUNTY FOR NIGERIA Nigeria potentially stands to reap a bountiful amount of US dollars from its crude assets in the next one decade at least, from now. This is not from several upward price spike regimes experienced from the 1973-74 Arab oil embargo up to the recent present crude price increases. The factors tilting oil fortunes towards Nigeria for the next one GHFDGH DUH GLͿHUHQW What is evolving in the global crude oil market are structural market fundamental shifts creating lucrative space for the Nigerian crude destined abroad and within the country. The upside peculiarity of Nigerian crude types referenced under three crude variants in the global market makes Nigeria a reference country in the global space for SURÀWDEOH GLVWLOODWHV OLNH %XWDQH DQG 3URSDQH 3HWURO $YLDWLRQ )XHO DQG 'LHVHO $OO WKH Nigerian crudes under three referenced YDULDQWV %RQQ\ /LJKW )RUFDGRV DQG 4XD Iboe - hold vast amounts of such precious GLVWLOODWHV 0DMRU UHÀQHULHV LQ D ODUJHU SDUW RI 86 UHÀQHU\ PDUNHW DQG (XURSH ZHUH FRQÀJXUHG SULPDULO\ RQ IHHGVWRFN FRPLQJ from these Nigerian crude types. Market began to close against Nigeria from 1988 ZKHQ WKH 86 PDUNHW VKHG RͿ D PDVVLYH HLJKW million barrels per day of crude demand IURP HQHUJ\ H΀FLHQW XVH VWUDWHJ\ 'LSORPDWLF alliances with Russia also restricted import H[SDQVLRQ LQ NH\ (XURSHDQ FRXQWULHV ZLWK strong appetites for Nigerian crudes like 1HWKHUODQGV 6SDLQ )UDQFH DQG *HUPDQ\ DV Russia fed them with its Urals.

Today, the market dynamics are changing, with a projected sustain loss trajectory of four million barrels per day of crude oil from Russia for at least, the next 10 years. This projection is EDVHG RQ WKH ÀUVW TXDUWHU JOREDO FUXGH RLO demand and supply market reports in which 1LJHULD LV NH\ )RU WKH PLOOLRQ EDUUHOV RI crude physical discharged and received out RI 1LJHULD IRU WKH ÀUVW TXDUWHU ,QGLDQ bought 24 million barrels translating to 18.78% RI WKH WRWDO SXUFKDVH DQG TXDOLI\LQJ DV QXPEHU one. Key countries including India on which this projection is chronicled in the context of these fundamental structural market changes that are opening space for Nigerian crudes DUH 5XVVLD 1HWKHUODQGV 6SDLQ ,WDO\ )UDQFH *HUPDQ\ 86 DQG &DQDGD The melting transaction alliances between 5XVVLD DQG WKH ÀYH (XURSHDQ FRXQWULHV LQ WKLV report has already seen rejection of 21 million barrels of oil from Russian Urals in the last few weeks. Russia with a recorded crude oil production output of 11.3 million barrels per day mostly from its eastern Siberia, the Yamal region and Tatarstan is the third-largest oil producer in the world. The country also ranks as one of the world’s largest crude oil exporters from the export of about seven million barrels of crude after deducting about 3.45 million barrels a day for self-use. The replacement of the amount of reduced crude imports from 5XVVLD E\ WKHVH (XURSHDQ FRXQWULHV KDV WR

EH IURP D VRXUFH ZKLFK WHFKQLFDOO\ ÀWV WKH UHÀQHU\ WHPSODWHV RI WKHLU HFRQRPLHV DQG ZLWK WKH EHVW TXDOLW\ LQ WHUPV RI FUXGH SXULW\ and with a symbiotic relationship that has been established. Interestingly, the Nigerian FUXGH DVVHWV ÀW ÀUPO\ DV DWWHVWHG E\ WKH KXJH SDWURQDJH RI WKHVH FRXQWULHV 6DOHV WR (XURSH ZDV PLOOLRQ EDUUHOV LQ TXDUWHU one of 2022, more than twice that of India.

In terms of crude purity, Nigeria referenced %RQQ\ /LJKW )RUFDGRV DQG 4XD ,ERH FUXGHV RXWVKLQH WKH 5XVVLDQ 8UDOV &3& %OHQG Varandey and other major crude variants of LWV FUXGH DVVHWV ([FHSW IRU (VFUDYRV /LJKW &UXGH ZLWK VOLJKW VDOLQLW\ XQLW RI SHU SRXQGV RI VDOW LQ D WKRXVDQG EDUUHOV 37% RI FUXGH DOO RWKHU FUXGHV KDG ]HUR 37% 9DOXHV RI GHQVLW\ DW GHJUHH FHOVLXV VSHFLÀF JUDYLW\ DW GHJUHH )DKUHQKHLW $3, JUDYLW\ DQG water distillation in the last laboratory test results in March 2022 were 0.8170, 0.8170, DQG 7KHVH DUH UDUH JOREDO TXDOLWLHV LQ FUXGH WKDW PDNH WKH 1LJHULDQ FUXGH TXLWH DWWUDFWLYH LQ WKH FRXQWULHV LQ TXHVWLRQ DQG many others outside this analysis.

In this analysis, it is projected that Nigeria is going to miss its market share in India solely because some of Russia’s loss has found itself into India, driven by heavy unprecedented discounts and crude consumption diet of India, which is a blend of light and heavy crudes that it survives on. However, this loss is DOUHDG\ EHLQJ ÀOOHG XS E\ VDOHV WR (XURSH ZLWK Netherlands and Spain already occupying 2nd and 3rd positions in the Nigeria’s current WUDGH DV VKRZQ LQ WKH ÀUVW TXDUWHU UHSRUW RI 1HWKHUODQGV KDV D WRWDO UHÀQLQJ FDSDFLW\ of 1.2 billion barrels per day which matches WKH JLDQW *XMDUDW RI ,QGLD )URP JOREDO trade data monitor for crude oil import and export numbers, data for countries future UHÀQLQJ SRWHQWLDO IURP ,($ WKH 86 (QHUJ\

In order to reap these opportunities and meet domestic demand of the 600,000 barrels by upcoming Dangote refinery, Nigeria must increase its current production with an additional irreducible minimal of 3.5 million barrels per day

,QIRUPDWLRQ 5DSLGDQ (QHUJ\ DQG 1LJHULD export monitor data, it is established that 1HWKHUODQGV 6SDLQ )UDQFH *HUPDQ\ DQG ,WDO\ KDYH VSDUH UHÀQLQJ FDSDFLW\ WR ODS XS DQ extra 3.5 million barrels per day coming from 1LJHULD 7KRPVRQ 5HXWHU 5HÀQLWLY UHSRUW RI ODVW ZHHN FRQÀUPV WKH GU\LQJ RXW RI ,QGLDQ purchases due to opening up of new markets LQ 1RUWK (DVWHUQ (XURSH DQG WKH $PHULFDV It says “West African crude and condensate exports rose to 27.58 mmbbl last week, up from 23.33 mmbbl a week earlier. According to the data available at present, 1.06 mmbbl DUH H[SHFWHG WR GLVFKDUJH LQ &KLQD GRZQ from 4.93 mmbbl in the previous week. No shipment has been recorded for India. 6.54 PPEEO DUH KHDGLQJ WR 1:( PPEEO WR WKH 0(' DQG PPEEO WR WKH $PHULFDVµ West African crude and condensates are PDLQO\ )RUFDGRV %RQQ\ OLJKW 4XD ,ERH DQG D IHZ RI &DELQGD DQG *LUDVRO IURP $QJROD &UXGH RQ WKH ZD\ WR &KLQD DUH GHÀQLWHO\ &DELQGD DQG *LUDVRO RI $QJROD Regarding the Nigerian-US market, US commitment of crude oil supplies to (XURSH IROORZLQJ 5XVVLDQ RLO EDQ LV DOUHDG\ widening demand-supply gap with the 50 states monitored recording a net supply GHÀFLW RI EDUUHOV RI FUXGH RLO SHU day. On 29 April 2022, (just weeks back) a vessel was seen discharging 966,687 barrels RI 1LJHULDQ 4XD ,ERH FUXGH LQ 3KLODGHOSKLD 3RUW 7KRPSVRQ 5HXWHUV 5HÀQLWLY UHSRUWV WKDW LQ WKLV ORFDWLRQ GHVLJQHG DV 3HWUROHXP $GPLQLVWUDWLRQ )RU 'HIHQVH 'LVWULFWV 3$'' 1LJHULD ZDV RQH RI WKH WRS WKUHH exporters of crude in March 2022 with a total crude discharge of 1.9 million barrel from 1.3 PLOOLRQ EDUUHO LQ )HEUXDU\ 7KH VHFRQG LQ rank is Russia which declined from 2.2 million EDUUHO LQ )HEUXDU\ WR PLOOLRQ EDUUHO ² PRUH than half of market share loss in just 31 days.

Many industry watchers submit that in US, as declining Russian Urals is being replaced by 1LJHULDQ 4XD ,ERH VR DOVR VKDOO WKH H[SDQGHG imports of the best global crude variant GXH WR VXSSRUW FRPPLWPHQWV WR (XURSH LV destined to be replaced by Nigerian crudes.

7KLV VFHQDULR DOVR JRHV IRU &DQDGD ZKLFK ZDV seen in March paying Nigeria US$599 million IRU 1LJHULDQ FUXGH RLO UHFHLYHG ([SHUWV DUH estimating an additional import potential of at least, three million barrels per day from this North American region.

This analysis has not ignored possible decreases in global petroleum gas demand by electronic car replacement. However, in 10 years, population increases, economic improvements in Africa, South America and South Asia will unleash petroleum gas UHTXLUHPHQW IRU WKHLU FDUV \HW WR EH UHSODFHG E\ HOHFWULF FDU LQ D TXDQWLW\ H[FHHGLQJ WKH ORVV from electronic car.

Dr. Williams, a doctor of Petroleum Economics writes from UK

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T H I S D AY

Inadequate supply of Jet fuel and price volatility are significant sources of disruption to flight schedules, writes FELIX OLADEJI

OF NIGERIAN AVIATION AND FUEL CRISIS Air transportation with its associated complex networks is a major source of transportation for people, goods, and services globally. Nigeria is the most populous country in Africa. The Nigerian Aviation industry has grown over the years in size, capital investment, safety and quality management V\VWHPV ZKLFK SURYLGH VHYHUDO EHQHÀWV WR WKH Nigerian economy. The air transport sector contributes about N59 billion to the national GDP; it supports about 159,000 jobs and pays about N8.5 billion in tax annually. It aids the fast and reliable movement of high-value to weight products, i.e., cargo for shippers.

Air transportation stimulates and supports tourism, and it has created opportunities for several international businesses, creating market links for export purposes.

Aircraft in Nigeria runs on civil grade Aviation Turbine Kerosene (ATK), particularly jet A-1 fuel. Jet fuel is a middle distillate, and it belongs to the kerosene family. The WKUHH UHÀQHULHV LQ 1LJHULD FXUUHQWO\ GR QRW produce jet fuel, and as such national jet fuel consumption is sourced via importation from IRUHLJQ UHÀQHULHV ,Q 1LJHULD LPSRUWHG 340.33 million litres of household kerosene ++. DQG PLOOLRQ OLWUHV RI DYLDWLRQ turbine kerosene, while 554.61 million litres of ATK were distributed nationwide via fuel trucks. Between 1986 and 2012, Nigeria consumed an average of 1,253,155L of jet fuel per day.

The scarcity of fuel in Nigeria negatively impacts sustainable economic development GXH WR LWV FULSSOLQJ HͿHFW RQ HQHUJ\ dependent productive activities. Jet fuel VFDUFLW\ DQG FRQVHTXHQWLDO ÁLJKW GLVUXSWLRQV and cancellations are sometimes a yearly occurrence in Nigeria. These issues are usually due to importation challenges, licensing GL΀FXOWLHV DQG IRUHLJQ H[FKDQJH VFDUFLW\ From 2004 to 2008, the price of jet fuel per litre almost tripled in America. In Nigeria, soaring fuel prices and scarcity reached a peak EHWZHHQ DQG ZKHQ WKH FRXQWU\ IHOO into recession because of the global drop in crude oil price, and the value of the naira fell VLJQLÀFDQWO\ DJDLQVW WKH GROODU 1LJHULD HDUQV over 90% of its foreign exchange from oil and gas export, making the economy susceptible to crude oil price variations on the global scene.

Adequate fuel supply and availability are vital for economic sustainability. Aviation fuel accounts for more than 30% of an airline’s operating expenditure. Jet fuel price is one of the factors that determine airfare and airlines’ SURÀWDELOLW\ 7KH DYLDWLRQ VHFWRU LV SODJXHG ZLWK MHW IXHO VFDUFLW\ DQG WKLV UHVXOWV LQ ÁLJKW delays, rescheduling, and cancellations. Jet fuel scarcity and the escalating cost are products of PXOWLIDFHWHG IDFWRUV WKDW DUH UHODWHG WR ÀQDQFH logistics, management, and policy.

However, Nigerian airports are labour intensive rather than capital intensive. To PD[LPLVH H΀FLHQF\ LQ DOO WKH DVSHFWV RI WKH operation, adequate attention to airport management is of utmost importance. The Federal Airports Authority of Nigeria (FAAN) needs to develop policies that consider the heterogeneous nature of Nigerian airports.

The following are critical operational and economic challenges that militate against the smooth supply and ready availability of jet fuel in Nigeria, creating a disparity between jet fuel demand and supply. These factors stimulate an excessive increase in jet fuel price, making EXVLQHVV GL΀FXOW IRU FRPPHUFLDO DLUOLQHV )HZ of such airlines became insolvent as a result of high operational and maintenance costs. All jet fuel consumption in Nigeria is imported; this

creates pressure on the jet fuel supply chain.

Jet fuel supply companies, both indigenous and multinational, are privately owned with no state vested investment. Jet fuel is imported by these companies or by Intermediate Shore Depots (ISD) owners based on their business SURMHFWLRQV DQG ÀQDQFLDO UHVRXUFHV +HQFH LPSRUWDWLRQ PD\ QRW EH VX΀FLHQW WR PHHW the national needs. Also, the importation timeline is not very well structured, and this arrangement can easily result in supply disruptions.

More importantly, the process of obtaining MHW IXHO LPSRUW OLFHQFHV DQG RWKHU ÀQDQFLDO DQG ÀGXFLDU\ GRFXPHQWV WDNHV WLPH 6HWWLQJ up a contractual arrangement with foreign UHÀQHULHV DOVR WDNHV WLPH DQG UHVRXUFHV DV WKLV may require travelling to the location of the UHÀQHULHV IRU GLVFXVVLRQV DQG WR ÀQDOLVH WKH deal. Hence to ensure bulk importation and reduce the number of ship trips, large capacity fuel cargo ships are used for importation, but this creates a challenge at the Nigerian end due to shallow waterways. In Lagos, for H[DPSOH MHW IXHO LV R΁RDGHG DW WKH $SDSD jetty area, where many ISDs are based. The inward waterways towards the jetty terminals DUH VKDOORZ ZLWK D GUDIW RI DERXW P WR P The implication of this is that big and heavy ships cannot approach such a narrow channel.

Hence, it becomes mandatory for the big ships to berth deep at sea, and then lighter vessels DUH WKHQ XVHG WR R΁RDG WKH ELJJHU YHVVHOV DQG transport the fuel to the ISD. This increases operational logistics and ship turn-around time. Adequate supply chain management LV QHFHVVDU\ IRU WKH WLPHO\ DQG FRVW HͿHFWLYH distribution of products towards ensuring product availability at a reasonable price.

Moreover, the industry should encourage ORFDO SURGXFWLRQ RI MHW IXHO E\ LVVXLQJ UHÀQHU\ operating licences to ready investors. Such an operating licence should be condition-based and activation-time bound to prevent the issue of people collecting permits without implementation. The already existing three UHÀQHULHV LQ WKH FRXQWU\ VKRXOG XQGHUJR capacity upgrade maintenance, and jet fuel should be included in the output product mix to complement importation. Jet fuel haulage using BRV is not optimal, the Mosimi pipeline should be refurbished or a new one constructed for facilitating the direct supply of jet fuel from the ISD to the airport. This ZLOO HOLPLQDWH WKH $SDSD WUD΀F HQVXUH IDVW delivery of jet fuel and reduce transportation costs. Rail tankers can be considered as an alternative.

Also, the high cost of aircraft maintenance abroad can be avoided by setting up a Maintenance, Repair and Overhaul (MRO) facility in Nigeria. The approval of the C-check maintenance of Boeing classics by the Nigerian Civil Aviation Authority (NCAA) is a welcome development. Jet fuel price volatility can be managed by airlines through jet fuel hedging to limit their exposure to rising jet fuel prices in the future.

Multi-element key performance indicators (KPIs) need to be developed to track and measure the Nigerian airport and aviation fuel sector performance using key industry parameters. Mandatorily all into-plane companies must subscribe to the Aircraft Refuelling Indemnity (Tarbox) Agreements with insurers for managing aircraft refuelling liability risks.

Oladeji ZULWHV IURP /DJRV

MONDAY MAY 9, 2022

JOHN OTU argues that the piece, ‘2023 Political Realities that Annoy and Heal’ is unfortunate

OMOKRI’S MISCHIEVOUS POLITICAL CALCULUS Reading Mr. Reno Omokri’s column on any good day is usually a rewarding exercise, given the in depth and unconventional insights one easily comes away with. He comes across as profound, courageous and brilliant. However, his article of Tuesday 3 May 2022 entitled, “2023 Political Realities that Annoy and Heal” fell far short of expectations. Not because he SHUHPSWRULO\ WROG RͿ WKH 6RXWK (DVW RU 6RXWKHUQ Political elite. Not even because, by his inchoate political reading of the polity, he apparently gave the trophy for victory in the 2023 elections to the Northern part of the country. What rankles is the dishonesty that characterized the position and his specious argument, which he barely stitched together by pleading to practical plans and strategies to win elections. Worse is that he makes recourse to recent history of Nigerian elections riddled with subterfuges to clinch his argument, rather than cast his nets far back to some examples of wholesome electoral practices in the country.

To the best of my knowledge, Omokri in most of his writings and interventions has always upheld the infusion of the tenets of equity, justice and fairness in Nigerian politics. He has always been on the side of the beleaguered people of Nigeria against any oppressive system. Not a few times has he lauded the enterprising spirit of the South- easterners, showing them up as the model for Nigeria’s political cum economic emancipation. Directly or otherwise, he has always supported the principle of zoning political R΀FHV HVSHFLDOO\ WKH SUHVLGHQF\ LQ 1LJHULD RQ D rotational basis between North and South. But RQ WKLV RFFDVLRQ KLV DQWKHP LV RI D GLͿHUHQW if weak, tone, and “No party zones from the position of weakness. You only zone from a position of strength. As an opposition party, the preoccupation of the Peoples Democratic Party should be how to win. When they win, they can WKHQ ]RQH µ +HUH 2PRNUL ÀJKWV VK\ WR WHOO WKH main opposition party to zone the presidency to the North because it is what will help them defeat its opponent- the ruling party - in 2023. By his subjective calculation, Bola Tinubu will emerge the candidate of APC and so, PDP should balance IRUFHV E\ ]RQLQJ LQ D GLͿHUHQW GLUHFWLRQ This in realpolitik may make sense in a do or die political battle. But Omokri is shooting past the issue at stake in Nigeria at the present times- meting out justice to the South, especially South East. Ironically, this is a vision that has preoccupied him over the recent years. Why all those protests and agitations he organized against the present government, especially President Buhari in the UK, America, France, etc., if he would return to his vomit by promoting a skewed and unworkable system in Nigeria? Not on a few occasions has he lamented the stranglehold of the Northern oligarchy on Nigeria- a system that seems to favour mediocrity over excellence: prebendalism and politics of cronyism against structured governance. It is even worrisome that by his facile logic, he is prepared to compare the incomparable, yoke strange bedfellows together, as it were. Where’s the convincing clincher to his position to wit, the Northern APC is completely for Tinubu while only perhaps Gov El Rufai of Kaduna State is for the Vice president, Osinbajo?

I dare say that Omokri in that piece squandered his talent talking hogwash.

There is something odious about one not sticking to avowed principles. All the positive antecedents will likely come unstuck and in disarray. Just imagine! In that simple moment of illogic, Omokri tars the entire people of the South, especially the South East, haranguing them for always resorting to abuse and insults on

others when they should be more strategica position that completely negates all he previously stood for. Thus, by this infamous stroke he has jettisoned his initial robust rebuttal to such irreverent attacks against his people in the past and has now donned the toga of “an accuser of brethren.” Having delivered this punch, what other weapon does he need to arm the ‘haters’ of the south to deny the South of their well-deserved tenancy at the presidency? And he has forgotten so soon that the Southerners, the

South East in particular whom he disdains for not having the required statistics to win 2023 presidential election, were the same group of people who stoutly stood by his former principal, Goodluck Jonathan, and helped him in no small measure to win the 2011 elections and supported him all the way to 2015 elections, though he lost arguably at the polls. For a retrospective character, Omokri should have done some soul – searching: This Buhari that I eulogize today for having a mammoth following in the North any day, why could he not win three previous elections in which he participated as a candidate with that magical arsenal? The reason is simple: no zone, no section of this country can go it alone. We need others as much as we need our close kin. It was only in 2015, when a group of parties united and presented Buhari as a candidate that he won the election, i.e. not undermining the role Jonathan’s ‘premature’ surrender to Buhari played in the APC victory. Regardless of the obvious dialectics and horseplay that were at play in handing victory to Buhari in that election of 2015, Omokri builds an imaginary HGLÀFH DERXW KRZ WKH IRUPLGDELOLW\ RI WKH Northern political elite will help them to win the 2023 elections. In paraphrase of William Shakespeare, [Scholarship} should be made RI D VWHUQHU VWXͿ Thank goodness though, Nigeria is not bereft of the presence of men of sterling character, elder statesmen indeed such as Chief Edwin Clark, Chief Ayo Adebanjo, Prof George Obiozor among others who have insisted and stood by their convictions that it is the turn of the South to produce the president of Nigeria in the 2023 general election. They have also sounded an ominous note that the country would implode if justice is denied the South next year. You don’t need to tell the deaf that trouble looms in the horizon.

Dr Otu, a former Commissioner for Information in (ERQ\L 6WDWH LV D VWDͿ RI $OH[ (NZXHPH )HGHUDO University in Ebonyi State

MONDAY MAY 9, 2022 • T H I S D AY

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The bill criminalising the payment of ransom to kidnappers is ludicrous, argues CHIMEZIE ELEMUO

THE SENATE AND THE PAYMENT OF RANSOM Yes, in Nigeria, very soon it will be a crime to pay ransom to kidnappers to release your loved ones from captivity.

The bill meant to achieve this has passed WKH WKLUG UHDGLQJ DW WKH 6HQDWH , DP PLͿHG as to what the Senate wishes to achieve with this bill. There is no statistics that nonpayment of ransom has reduced the spate of kidnapping any where in the globe.

Kidnappers don’t only kidnap for ransom, they kidnap to make statement or advance their criminal distaste for constituted authorities or the state. Freedom is a gift from God. It will be wrong and unnatural to make a law criminalizing man’s quest for freedom. It is natural for one to long for his freedom once in captivity of the enemy or a kidnapper. Freedom is priceless.

No amount of money can be put to it.

Therefore, it will be wrong to ask a captive not to seek his freedom by whatever means that is available to him. In fact, it is permissible by law to seek one’s freedom by any means once one is in illegal captivity. So, the new bill criminalizing the payment of ransom to secure one’s freedom who is in illegal captivity of the kidnappers is unconstitutional to say the least.

The Senate wants it to be a crime to pay

Freedom is priceless.

No amount of money can be put to it.

Therefore, it will be wrong to ask a captive not to seek his freedom by whatever means that is available to him ransom to kidnappers. In a country where the security agencies are lukewarm to their duties, where life is short and brutish, where destinies are cut short, this will be the most ludicrous law to make. It is not a crime not to protect citizens- they can be mowed down in their prime at a toll plaza ZKHUH WKH KLJK DQG PLJKW\ DUH ÁHHFLQJ Nigerians of their daily income. It is not a crime if the police refuse to respond to a distress call when the kidnappers are on the prowl. But it will be a crime to pay ransom when one has been kidnapped. I know that this present Senate is clueless.

It is about the worst we have had since 1999. When they are supposed to make laws that will secure the lives of Nigerians, they are contemplating legislating the impossible. May be as legislative jesters, they are not aware that you cannot legislate the impossible. Once one is in captivity, the natural thing for him is to seek his freedom. The police know this very well.

How many Nigerians will prefer to remain in the police illegal detention and pursue their release in the court of law than to pay bail bribe to the police? Most Nigerians will prefer to pay for their bail than to pursue it legally. And it is not a crime to

pay for bail in Nigeria, but it would soon be a crime to pay ransom to kidnappers.

But you can pay bail money to the police.

What a country!

This reminds me of Ken Saro Wiwa’s statement that in Nigeria the wrong doers are those who do no wrong. So how can it be a wrong thing to pay kidnappers to secure the release of your loved ones but it is not a crime for the police to collect bribe for bail? There are two types of laws in Nigeria-one for the masses, and one for the authorities. The Senate should pass a law criminalizing the collection of bail money by the police and other security agencies. You may be surprised that this will help to stem the tide of kidnapping in the country. It will not be out of place for the Senate to devise other means to stem this tide of kidnapping across the country.

Putting the lives of Nigerians in danger is not one of the means. Because there are cases where the kidnappers kill their victims because the family could not DͿRUG WKH UDQVRP GHPDQGHG RU WKDW VDPH was not paid on time. Adequate security is important. The Senate should note this.

Legislation that will improve the lives of Nigerians is what is needed. So while the Senate intention may be genuine, the proposed law criminalizing the payment of ransom is nonsensical. Such a law is illegal in itself. Such a law will put Nigerians into hardship in the sense that it will make the lives of those under kidnappers’ captivity more precarious. Life has no duplicate. So anything done to secure or safeguard it under the circumstances of a victim of a kidnap is permissible. The Senate should rather make a law that will strengthen the operations of the security agencies.

They should make laws that will hold the security agencies accountable once any ÁDZ LV QRWLFHG LQ WKHLU PRGH RI RSHUDWLRQV They should make laws that will make WKH ÀJKW DJDLQVW NLGQDSSLQJ HDVLHU 7KH Senate should re-think and withdraw the VR FDOOHG ELOO WKDW DGGV QRWKLQJ WR WKH ÀJKW against kidnapping and other sundry crimes ravaging our nation.

Elemuo, lawyer, writes from Port Harcourt

Kogi State holds lessons for Nigeria, writes ABUBAKAR ACHIMUGU

SECURING THE PEACE IN KOGI Delivering good governance is not cheap – and it is not easy. At least, not with the current happenings in many parts of Nigeria. But Governor Yahaya Bello of Kogi State has tried to address the stubborn issues that have tended to overcomplicate the process of governance.

Bello, 46, has used a vigorous investment of WLPH DQG HͿRUW WR GHOLYHU VHFXULW\ RQH RI WKH WZR cardinal essences of government, to Kogi State.

The other fundamental principle is welfare, where the governor is also trying, in a state surrounded by multifarious concentrations of insecurity.

Acknowledging the primacy of security and welfare, the 1999 Constitution, as amended, states in Section 14 (2) (b), “The security and welfare of the people shall be the primary purpose of government.”

On that score, many governments have failed. But the story of Kogi State, under Bello, LV GLͿHUHQW Kogi is the only state in Nigeria bordered by 10 other states. The North-central state is bordered to the east by the states of Ekiti and Kwara, to the north by the Federal Capital Territory (FCT), to the northeast by Nasarawa State, to the Northwest by Niger State, to the South-west by the states of Edo and Ondo, to the South-east by the states of Anambra and Enugu, and to the West

by Benue State. ,Q PDQ\ RI WKH VWDWHV ERUGHULQJ .RJL HͿRUWV to guarantee security of lives and property have foundered, with insecurity becoming the daily experience of residents. Movement of people and goods have been impaired by insecurity, especially in the northern states. Food security is threatened, as farmlands have become inaccessible to many farmers due to terrorism and banditry.

To curb insecurity, sundry alternative security arrangements have emerged, from local hunters to vigilantes, neighbourhood watch, and personal guards. But the problem has not ebbed.

Yet, Kogi residents have lived without the horror of fratricidal killings and fear, which is the order of the day across their borders. Many wonder how a state bordering nine other states and the FCT has been able to sustain peaceful and harmonious relationships in these volatile WLPHV GHVSLWH GLͿHUHQFHV LQ UHOLJLRQ DQG WULEH How is Bello doing it? This is the question on many minds. The governor said during the 30th anniversary of the creation of Kogi State in August last year, “In real terms, Kogi is fast becoming the default example of a truly democratised and free state where inclusive leadership and people-based governance models have become central and accessible to all.

“We understand clearly the demands of SXEOLF R΀FH DQG KDYH D VWDQGLQJ UHVROYH WR SXW WKH LQWHUHVW RI RXU SHRSOH ÀUVW LQ DOO ZH GR DV D government.

“My administration took the security, unity, peace and prosperity of our once divided and impoverished people seriously, right from inception. Today, our state is arguably the safest in the entire country.

“We are rated the second most peaceful and our crime rate is second lowest. We have a hugely diverse population that is, nevertheless, more united now than at any time in our history.

“By aiming at targets, we set in our New Direction Blueprint and allied governance roadmaps, we are crushing our goals in reduction of the Multidimensional Poverty Indices here in Kogi State.”

Bello’s strategy consists mainly of promotion of cultural integration and sincere bonding with the people.

8SRQ DVVXPSWLRQ RI R΀FH LQ Bello declared total war on armed robbers, kidnappers, and other criminal elements in the state. He engaged the security agencies to pursue kidnap kingpins and criminals that

were previously thought to be untouchable.

Criminal elements, along with their foot soldiers and sponsors, were smoked out of their hiding places. And many buildings and hideouts that used to host evil activities were demolished by the state government.

The Bello administration constructed Army )RUZDUG 2SHUDWLRQ EDVHV DW GLͿHUHQW SODFHV across the state to facilitate quick response to security breaches and enhance the security of lives and property of the people.

The government also promoted synergy with community, organisations and civil society organisations (NGOs) to pursue a conscious reorientation and de-radicalisation drive, especially, among the youth.

ActionAid Nigeria (AAN), a national non-governmental, non-partisan, nonUHOLJLRXV 1*2 DQG DQ D΀OLDWH RI $FWLRQ$LG International Federation, has been at the forefront of the Kogi State peace initiative.

In collaboration with the state government, AAN initiated the Youth Peace Camp scheme, in pursuance of the System and Structure Strengthening Approach against Radicalisation to Violent Extremism, also called SERVE Project.

SERVE II Project aimed to produce peace ambassadors in communities across the two neighbouring states of Kogi and Nasarawa. It was executed in partnership with Participation Initiative for Behavioural Change in Development (PIBCID), Global Peace Development (GPD), and Beacon Youth Initiative (BYI), with funding from Global Community Engagement and Resilience Fund (GCERF).

7KH ÀUVW HGLWLRQ RI WKH <RXWK 3HDFH &DPS project (SERVE I) in 2019 in Kogi State, produced 500 peace ambassadors. During the 2020 edition, young people were brought from communities across the three senatorial districts of Kogi State to support the participants in initiating social cohesion and a sense of purpose approach to the peace building as key LQ SUHYHQWLQJ FRQÁLFW DQG HQDEOLQJ VWDELOLW\ and sustainable peace. Participants were exposed to experiential learning processes to enable them acquire competences in the ÀHOGV RI LQWHUFXOWXUDO DQG UHOLJLRXV OHDUQLQJ dialogue, and Prevention of Violent Extremism (PVE) within a human rights framework. They were also taught various forms of capacity building and consolidation strategies, such as teaching, coaching, mentoring, psychosocial support, and skills acquisition.

Achimugu writes from Abuja

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MONDAY MAY 9, 2022

EDITORIAL

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

DOMESTIC FLIGHT OPERATIONS IN NIGERIA Government should sit down with the airline operators to resolve the aviation fuel crisis

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lthough the Airline Operators of Nigeria (AON), the umbrella organisation for domestic carriers, last night rescinded its threat to halt GRPHVWLF ÁLJKW RSHUDWLRQV HͿHFWLYH from today, the issues that led to the decision are still lingering. The astronomical and continuously rising cost of JetA1 had for the past few months put domestic airlines operating in Nigeria LQ D TXDQGDU\ ,Q WKHLU UHDFWLRQ WR WKH DYLDWLRQ SULFH hike in March, the airlines had jerked up base fare to N50,000 for a one-hour ÁLJKW VODVKLQJ SDVVHQJHU WUD΀F E\ DOPRVW SHU cent. Further increasing DLU IDUHV RͿHUV QR practical solution because that could force more Nigerians to shun their VHUYLFHV Since February, domestic airlines RSHUDWLQJ LQ 1LJHULD KDYH IDFHG GL΀FXOW\ LQ REWDLQLQJ DYLDWLRQ IXHO NQRZQ DV -HW $ DW WKH ULJKW SULFH DQG LQ the quantity demanded. For an oil producing country, this is another emblem of shame. According to the AON, from N190 per litre in January this year, oil marketers increased the price of the product to N300 SHU OLWUH DQG E\ WK )HEUXDU\ LW URVH WR 1 and since then the price has been increasing such that by last week it had risen to N700 per litre. That was what forced the operators into issuing threat notice RI GRPHVWLF ÁLJKW VXVSHQVLRQ EHIRUH FRPPRQVHQVH SUHYDLOHG ODVW QLJKW Air transportation plays critical role in the economy RI DQ\ QDWLRQ DQG ZKHQ DYLDWLRQ LV SDUDO\VHG LW DͿHFWV HYHU\ RWKHU VHFWRU RI WKH HFRQRP\ 7KH DLUOLQHV KDYH ORVW KXJH UHYHQXHV GXH WR LQDGHTXDWH VXSSO\ RI WKH SURGXFW DQG WKLV KDV UHGXFHG WKH SDVVHQJHU WUD΀F on domestic routes and threatens the sustainability of Nigerian carriers. For years, airlines operating LQ RU IURP 1LJHULD KDYH EHFRPH QRWRULRXV IRU GHOD\HG DQG FDQFHOOHG ÁLJKWV 7KLV KDV DOVR OHG WR VR

much uncertainty for passengers and the operators WKHPVHOYHV %XW WKH DYLDWLRQ IXHO SDODYHU KDV SURYLGHG D UHDG\ MXVWLÀFDWLRQ IRU WKLV ODSVH ,QFUHDVLQJO\ DLU transportation is being threatened in the country. %\ LWV ORFDWLRQ DQG SDVVHQJHU WUD΀F /DJRV VKRXOG QDWXUDOO\ EH WKH DYLDWLRQ KXE LQ :HVW DQG &HQWUDO $IULFD %XW 1LJHULD LV ORVLQJ WKLV WR $FFUD *KDQD EHFDXVH RI KLJK SULFH RI DYLDWLRQ IXHO SRRU LQIUDVWUXFWXUH DQG H[RUELWDQW FKDUJHV E\ JRYHUQPHQW DJHQFLHV 7KDW ZH insist, cannot be acceptable. Nigerian airlines need DQ DYHUDJH RI PLOOLRQ OLWUHV RI IXHO D GD\ ZKLOH international carriers and SULYDWH MHW RSHUDWRUV UHTXLUH about 800,000 litres a day. %XW VFDUFLW\ KDV DOZD\V been created around the product, although it was QHYHU WKLV EDG <HW DV ZH stated recently, the high SULFH RI DYLDWLRQ IXHO KDV implication on safety because in the bid to recoup cost, airlines may be tempted to toy with the H[WHQVLRQ RI PDLQWHQDQFH GDWHV (YHU\WKLQJ VKRXOG EH GRQH WR DYHUW WKDW $V WKLQJV VWDQG WKH RQO\ ZD\ WKH SULFH RI DYLDWLRQ fuel and other petroleum products can be determined E\ PDUNHW IRUFHV LQ 1LJHULD LV LI WKH FRXQWU\ UHÀQHV the products locally. The war between Russia and 8NUDLQH KDV KDG VLJQLÀFDQW LPSDFW LQ WKH RLO DQG JDV VHFWRU :LWK WKH LQFUHDVH LQ WKH SULFH RI FUXGH RLO FRVW RI UHÀQHG SHWUROHXP SURGXFWV LV OLNHO\ WR VRDU EH\RQG the reach of many Nigerians. The consequence is that ZKHQ DLUOLQHV FDQ QR ORQJHU DͿRUG WKH FRVW RI DYLDWLRQ fuel and they ground their operations, it would be catastrophic for the national economy. :KLOH DYLDWLRQ IXHO ZRUOGZLGH LV VDLG WR FRVW DERXW SHU FHQW RI DQ DLUOLQH·V RSHUDWLQJ FRVW WKH SUHVHQW KLNH KDV VKXW XS 1LJHULD·V RSHUDWLQJ FRVW WR DERXW SHU FHQW 1RZ WKDW DLUOLQHV RSHUDWRUV KDYH decided to continue with their operations, the federal JRYHUQPHQW PXVW VLW GRZQ ZLWK WKHP WR ÀQG D sustainable solution to the problem.

When airlines can no longer afford the cost of aviation fuel and they ground their operations, it would be catastrophic for the national economy T H I S D AY EDITOR SHAKA MOMODU DEPUTY EDITORS WALE OLALEYE, OBINNA CHIMA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR BOLAJI ADEBIYI THE OMBUDSMAN KAYODE KOMOLAFE

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

Letters to the Editor Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive.com along with photograph, email address and phone numbers of the writer.

LETTERS RELIEVING THE CIVIL WAR IN AKWUKWU IGBO ,W ZDV D ZDUP 6DWXUGD\ DIWHUQRRQ ZKHQ , YLVLWHG WKH SLFWXUHVTXH WRZQ RI $NZXNZX ,JER LQ 2VKLPLOL 1RUWK /RFDO *RYHUQPHQW $UHD RI 'HOWD 6WDWH $V , GURYH RQ WKH KLOOV DOO , VDZ was beauty and the green plantation, lush yam farms kissed WKH VNLHV 0LOHV DQG PLOHV DZD\ , VDZ WKH JORULRXV 5LYHU 1LJHU ÁRZLQJ LQ LWV HQGOHVV EHDXW\ 7KH SLFWXUHVTXH RXWORRN RI $NZXNZX ,JER ZDV PRUH EHDXWLIXO WKDQ WKH <RUNVKLUHGDOHV DQG for me it told a story of resilience. The Akwukwu Igbo people KDG PLJUDWHG LQ WKH &HQWXU\ DIWHU WKH RSSUHVVLRQ E\ WKH %HQLQ .LQJ DQG WKH\ PRYHG WR 2ZHUUL +HQFH WKH\ SLFNHG XS ,JER EHIRUH WKH\ ÀQDOO\ VHWWOHG DFURVV WKH 1LJHU LQ WKH IHUWLOH DQG LG\Olic landscape.

They set up their traditional systems there and made it home DQG WKH\ OLYHG WKHUH IRU PDQ\ \HDUV 2Q HQWHULQJ WKH WRZQ , VDZ EXLOGLQJV WKDW KDG VWRRG RYHU years. I saw the home of Pa Sam Jibunoh, the father of desert ZDUULRU 1HZWRQ -LEXQRK +H OLYHG IURP +H ZDV D VXFFHVVIXO SODQWDWLRQ RZQHU DQG ZDV RQH RI WKH ÀUVW SHUVRQV WR own a car in the community.

, ZHQW WR YLVLW WKH WKUHH ROGHVW SHUVRQV LQ WKH WRZQ D \HDU ROG D \HDU ROG EXW , FRXOGQ·W YLVLW WKH \HDU ROG , PHW WKH 92-year-old taking an afternoon stroll. I guess he had walked DERXW WKUHH NLORPHWUHV EHIRUH , PHW KLP , WROG KLP WKDW KH GLGQ·W ORRN KLV DJH DQG KH ODXJKHG :H EURNH .ROD QXW DQG RͿHUHG SUD\HUV 7KHQ , YLVLWHG WKH \HDU ROG WKDW KDG MXVW FRPH EDFN IURP WKH IDUP +H VWLOO ZRUNV DERXW VL[ KRXUV RQ WKH IDUP HYHU\ day. I was just amazed sitting with a man close to 100 years, ORRNLQJ ÀW QR ZULQNOHV KH ZRUH QR JODVVHV DQG ZH GLVFXVVHG IRU KRXUV DERXW WKH FLYLO ZDU +H WROG XV DERXW WKH ZDU DQG VDLG $NZXNZX ,JER ZDV WKH safest part during the war and many people from Asaba came WKHUH %XW DW D WLPH D YLOODJH EXOO\ FDOOHG -RWD KDG JRQH WR LQIRUP the federal troops that Akwukwu Igbo was harbouring Igbos DQG WKH WURRSV FDPH WR DWWDFN WKH WRZQ 7KH WRZQ ZDV VDYHG E\ WKH LQWHUYHQWLRQ RI DQ LQGLJHQH RI WKH YLOODJH ZKR FDOOHG *RZRQ to debunk the story. The Nigerian Army also set up an hospital LQ WKH YLOODJH WR WUHDW WKHLU ZRXQGHG VROGLHUV EHFDXVH LW ZDV VDIH $V ZH FRQWLQXHG KH WROG XV D ÀUVW KDQG H[SHULHQFH RI WKH $VDED PDVVDFUH YLFWLPV WKDW UDQ WR $NZXNZX ,JER DQG KRZ

they heard regular loud noise from the shelling across the NiJHU WKURXJKRXW WKH ZDU +H FORVHG E\ D΀UPLQJ WKDW ZDU LV D EDG WKLQJ DQG WKH VXͿHULQJ ZDV XQSDUDOOHOHG 7KH\ KDG QRW VWLOO UHFRYHUHG IURP WKH ZDU +H DOVR FRPSOHWHG WKH VWRU\ RI -RWD WKH YLOODJH EXOO\ ZKR ÀQDOO\ EHFDPH D SDVWRU DQG GLHG RQ WKH $OWDU ,W ZDV LQGHHG DQG H[SHULHQFH GULYLQJ WKURXJK PRVW SDUWV RI 2VKLPLOL 1RUWK and I learnt that the strength of Nigeria is the informal sector DQG DOO SHRSOH WUXO\ ZDQW LV WR SURYLGH WKH DPHQLWLHV RI OLIH IRU them. I hardly saw well- equipped hospitals around there and , ZRQGHUHG ZKDW LV WKH JRYHUQPHQW GRLQJ WR HQVXUH WKH KHDOWK needs of people are met. I always heard stories of how people KDYH WR GULYH WR $JERU WR JHW JRRG PHGLFDO UHVSRQVHV , DOZD\V VD\ WKH SHRSOH RI 1LJHULD GRQ·W QHHG PXFK DOO WKH\ ZDQW LV D UHVSRQVLYH JRYHUQPHQW EXW , ZRQGHU LI WKH SROLWLFLDQV WUXO\ XQderstand this. As we seek a leader in 2023, I pray the politicians understand that power comes with responsibility.

Rufai Oseni, rufaioseni@gmail.com

T H I S D AY ˾ MONDAY, MAY 9, 2, 2022

33

BUSINESSWORLD R A T E S MONEY MARKET

A S

REPO

A T

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

08056356325

M A Y

S & P INDEX

6 , 2 0 2 2

S & P INDEX

EXCHANGE RATE

OPR

6.50%

CALL

10.75%

INDEX LEVEL

610.44%

1/4 TO DATE

– 1.31%

N416.75/ 1 US DOLLAR*

OVERNIGHT

7.17%

1-MONTH

9.66%

1-DAY

0.03%

YEAR TO DATE

7.13%

*AS AT LAST FRIDAY

3-MONTH

1028%

MONTH-TO-DATE

– 1.31%

Maintaining its Monetary Policy Action, CBN Cuts OMO, Primary Market Auctions to N2.99trn

Kayode Tokede On the backdrop of maintaining its monetary policy actions with the aim of decreasing money supply in the economy, improve macro economy liquidity, the Central Bank of Nigeria (CBN), reduced Open Market Operation (OMO) and primary market auctions to N2.99 trillion in first four months of 2022, the CBN financial data has revealed.

The CBN, in its financial data for the first four months of 2022, disclosed that it auctioned N2.99 trillion government papers between January and April 2022, indicating a decline of 17.3 per cent from

N3.62 trillion between January and April of 2021.

Analysis of the financial data revealed that as primary market auction increased by 24per cent between January to April 2022 to N2.42 trillion from N1.95 trillion in prior period of 2021, OMO auctions dropped by 66 per cent to N570 billion from N1.66 trillion recorded between January and April 2021.

OMO refers to the CBN practice of buying and selling securities on the open market in order to regulate the supply of money that is on reserve in banks. Whenever the apex bank believes the inflation rate is high due to increased money supply, it sells OMO at

the secondary market to mop-up excess liquidity in the system.

For primary market auction, it is a market where new issues of government securities are available for sale.

Meanwhile, a monthly breakdown revealed that CBN in January conducted a primary market auction worth N472.8 billion and it increased to N778.21 billion and N880.34 billion between February and March 2022 respectively. For April, a total of N289.1 billion was sold at the primary market auction

by CBN. However, for the OMO, CBN auctioned N130 billion in January and it increased further to N2709

billion. OMO auction dropped by 58 per cent to N120 billion in March and depreciated further to N50 billion in April 2022.

But some analysts attributed low liquidity in the economy to the decline in OMO auction in 2022.

They maintained that the purpose of OMO is to adjust the CBN monetary policy and to ensure money in the economy is not much to spike inflation and price stability.

Capital market analyst and Vice president, Highcap Securities Limited, Mr. David Adnori in a chat with THISDAY attributed the decline in OMO auction to low liquidity in macro economy.

He explained that the CBN’s primary market auctions in 2022 is due to increasing borrowing by the federal government to finance budget deficit, maintaining that interest rate on these money market attracted investors’.

According to him: “The CBN sales T-Bill in two market platforms and the first one primary market auction and secondary market platform called the OMO. The secondary market has a market where banks and other approved dealers change T-Bill among themselves.

“Occasionally, from its monetary policy implementations of either increasing or decreasing money

supply in the economy, the CBN intervened in the secondary market which is called OMO market auction.”

He added: “When CBN buys in the OMO, it means they wanted to stabilize the economy. Then, if there is so much money in the economy, then enters the secondary market, which is the OMO and sales to withdraw money from the system.

The purpose is to improve macro economy liquidity. This year, the OMO auction means there is no excess liquidity in the economy for CBN to auction.”

On his part, analyst at PAC Continued on page 34

Dangote, BUA, Lafarge Cement Rake in N156.55bn Profit in Q1 2022 Kayode Tokede Three cement producers listed on the Nigerian Exchange Limited (NGX), Dangote Cement Plc, BUA Cement Plc and Lafarge Cement Plc made a combined profit of N156.55 billion in first quarter (Q1) of 2022, representing an increase of 29 per cent from N121.2 billion reported

in first quarter of 2021.

Despite reporting hike in cost of sales and operating expenses, the growth in profit by Nigeria’s top cement makers was boosted by increase in revenue.

THISDAY checks revealed that the retail cement prices in Nigeria reportedly rose from around N2,400-N2,600 per 50kg

bag in 2020 to an average price of N4,000 at the end of March 31, 2022.

Meanwhile, Dangote Cement, Nigeria’s largest producer and the second most capitalised firm on the NGX, reported 18 per cent increase in its profit to N105.85 billion in Q1 2022 from N89.7 billion in Q1 2021.

The cement giant generated N413.18 billion revenue in Q1 2022, representing an increase of 24.2 per cent over the N332.65 billion recorded in Q1 2021.

However, Dangote Cement sales volumes in the Q1 2022 was hampered by disruptions to gas supplies domestically and by high freight rates restricting

its exports of cement and clinker to Cameroon, Ghana and Sierra Leone. Its sales volumes of cement fell by 3.6 per cent year-on-year to 7.25 million metric tonnes in the Q1 2022 from 7.52 million metric tonnes in Q1 2021.

The chief executive officer of Dangote Cement, Michael Pucheros in a statement had said:

“Our group volumes were down 3.6per cent mainly due to energy supply challenges in Nigeria. Our operations relying on cement and clinker imports – namely Ghana, Sierra-Leone, Cameroon - were impacted by the global supply chain challenges.”

Continued on page 34

M A R K E T D ATA A S AT F R I D AY, M AY 6 , 2 0 2 2 BILLS

BONDS DESCRIPTION

Price

Yield

14.20 14-MAR2024 13.53 23-MAR2025 12.50 22-JAN2026 16.2884 17MAR-2027 13.98 23-FEB2028

110.85

7.79

108.83

9.92

105.63

10.61

119.08

11.10

111.14

11.30

Change Updated Time (%) May 6, -0.01 2022 May 6, 0.00 2022 May 6, 0.00 2022 May 6, 0.00 2022 May 6, -0.07 2022

Discount

NTB 9-Jun22 NTB 14-Jul22 NTB 11Aug-22 NTB 8-Sep22

304,00 305,00

0.00 May 6, 2022

323,00 324,00

0.00 May 6, 2022

350,00 353,00

0.00 May 6, 2022

349,00 353,00

0.00 May 6, 2022

NTB 13-Oct- 356,00 362,00 22

0.00 May 6, 2022

Yield

OTC F X F U T U R E S

CPS

MATURITY

Change Updated Time (%)

MATURITY NEVE CP I 24-MAY-22 DANC CP II 25-MAY-22 TRBH CP V 26-JUL-22 FSDH CP VI 1-AUG-22 NENL CP I 24-OCT-22

Discount Yield 16.52 16.65 8.56

Change Updated Time (%) -0.25 May 6, 2022

8.60

-0.24 May 6, 2022

11.67 11.98

0.75 May 6, 2022

8.44

0.84 May 6, 2022

14.14 15.14

0.12 May 6, 2022

8.27

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS MAY 25 1 427.24 2022 NGUS JUN 29 428.93 2 2022 NGUS JUL 27 3 430.63 2022 NGUS AUG 31 4 432.32 2022 NGUS SEP 28 5 434.02 2022

Updated Time

May 5, 2022 May 5, 2022 May 5, 2022 May 5, 2022 May 5, 2022

34

MONDAY, MAY 9, 2022 ˾ T H I S D AY

BUSINESSWORLD

NEWS

DANGOTE, BUA, LAFARGE CEMENT RAKE IN N156.55BN PROFIT IN Q1 2022

Additionally, its operations outside of Nigeria was also negatively affected by a cement plant in Congo being shut for over two months due to maintenance and repairs and extended power plant maintenance in Senegal.

However, BUA Cement saw a 22.4 per cent increase in profit to N33.14billion in Q1 2022 from N22.4 billion in Q1 2021 as its revenue closed Q1 2022 at N96.99billion compared to N58.5

billion reported in Q1 2021.

While Dangote has continued to retain its spot as the largest cement manufacturer with plant capacity of 35.2 million metric tonnes, BUA has overtaken Lafarge to the second position, with a total plant capacity of 11mmt while Lafarge stays at 10.5mmt.

BUA inaugurated Kalambiana three million metric tonnes line three plants in 2021 and its plant

capacity has been projected by FBNQuest to reach 20 million metric tonnes by 2024, when the company commissions an additional nine million metric tonnes.

In addition, Lafarge Africa reported 92.18 per cent increase in profit to N17.6 billion in Q1 2022 from N9.14 billion in Q1 2021, while its revenue rose by 27 per cent to N90.61 billion in Q1 2022 from N71.47 billion

reported in Q1 2021.

Commenting, Capital market analyst and a stockbroker, Mr. Rotimi Fakeyejo said: “The strong growth across the listed cement manufacturing companies as a result of price increment in product. The cement manufacturing companies have been compelled to increase price to preserve margins from the impact of foreign exchange devaluation.”

He explained further that|: “For

2022, we are likely to see increased sensitivity from the private sector and also taking into account that this is a pre-election year. In preelection years, you tend to see more cautious activities in the real estate sector because of uncertainties in the world economy.

“For public sector demand as well, we don’t expect any significant effect in that space as we see preparation for the coming elections distracting

policymakers from implementing the capital expenditure in the budget for 2022.”

Similarly, a report by FBNQuest analysts stated that pre-election capital expenditure will help cement makers stay resilient in 2022.

The report predicts that subnational governments have the incentive to complete road and other infrastructure projects which will drive demand for cement.

PEBEC Attains 50% Completion of Business Reforms in MDAs James Emejo in Abuja The Special Adviser to the President on Ease of Doing Business/Secretary, Presidential Enabling Business Environment Council (PEBEC), Dr. Jumoke Oduwole, has said a 50 per cent completion rate had been achieved at the end of the 90-day accelerated reform cycle in public agencies.

This followed the completion of the Seventh National Action Plan (NAP 7.0), after the 30-day extension of the previous completion date of April 6, 2022.

The exercise is targeted at implementing reforms for improved efficiency and transparency of Ministries,

Departments and Agencies (MDAs).

Oduwole, stated that NAP 7.0 was designed to further reduce the challenges faced by micro, small and medium enterprises (MSMEs) across four areas namely, agro-export implementation action plan, automation reforms, regulatory reforms, and executive order 01/ReportGov.NG compliance reforms.

Reporters Nosa Alekhuogie (ICT) Peter Uzoho (Energy) Ugo Aliogo (Development)

the publication of Insolvency Regulations pursuant to the Companies and Allied Matters Act (CAMA) 2020, providing the much-needed support for the operationalisation of the extensive insolvency provisions in the Act. She also said that enforcement of compliance with Order 172 on the timeline for distribution companies (Discos) to complete new connections

for maximum demand users to the distribution grid had commenced.

She explained, “Reform will improve Discos’ turn-around time for connecting maximum demand users. Likewise, the Trademark Registry has resolved previously recurring errors in the manual generation of certificates/recordal documents.”

While thanking the Head of

Civil Service of the Federation, Dr. Folasade Yemi-Esan, for her kind and timely support for the implementation of the reforms, she added that the PEBEC Secretariat will continue to work with MDAs to deliver the outstanding reforms for the benefit of micro, small and medium scale enterprises and the Nigerian economy even after the NAP 7.0 window closes.

Uduanu: More Venture Funding for Startups Needed in Nigeria, Africa to Accelerate Growth Nume Ekeghe

Group Business Editor Eromosele Abiodun Deputy Business Editor Chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Money Market Nume Ekeghe Senior Correspondent Raheem Akingbolu (Advertising) Correspondents Emmanuel Addeh (Energy) KayodeTokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance)

She said the reforms included the streamlining and simplification of agoexport regulatory practices with a view to boosting the competitiveness of Nigeria’s agro-exports while enhancing Nigeria’s foreign exchange earnings as stated in the agro-export plan.

In a statement, she identified the completed reforms for the NAP 7.0 to include

The Managing Director and Chief Executive Officer, Sigma Pensions, Mr. Dave Uduanu has noted that startup companies in Nigeria and Africa require more venture capital funding to accelerate growth.

He also stressed that as much as startups focus on the importance of getting funding, they also need to ensure they embed good corporate structures citing it as pivotal to for growth.

Uduanu said this at the maiden edition of ‘Founders and Funders’ event organised by Melon Capital in Lagos over the weekend where startups and investors converged to network and rub minds.

He said: “ The more venture capital funding is available, the better for the economy because when you find very talented founders and you give them substantial money, they can fast track and grow their business.

“So, I guess for me, the more venture funding we have in

Nigeria and in Africa, the better and the easier it is to build these big companies and unicorns as they are so-called.”

He also urged that startups have good corporate governance and management structure from the unset.

He added: “Investors in startups should ensure where they are investing in have good corporate governance, good management structures in these companies.”

On his part, Partner at SouthBridge Group and former Chief

Executive Officer, Africa Finance Corporation (AFC), Mr. Andrew Alli also speaking on the importance of corporate governance, said: “Corporate governance is super important, and certainly when I was at AFC and when talking about startups, we did many studies about what were the best predictors of success of our investments and corporate governance was more often than not, a better predictor of success. Also, I think the corporate governance needs to evolve with

a company.”

Further alluding to the importance of good corporate governance, and speaking from a founder’s point of view, the CoFounder, Trade Depot, Mr. Kachi Izukanne noted its importance for startups to scale.

He said: “Corporate governance is vital because it is a constant reminder to you as a founder why it is important to have corporate governance in place and why it is important to do things the right way.”

MAINTAINING ITS MONETARY POLICY ACTION, CBN CUTS OMO, PRIMARY MARKET AUCTIONS TO N2.99TRN Holdings, Mr. Wole Adeyeye said the CBN’s weak activities in OMO market was due to slow economic activities, stating that banks were concerned about lending to the real sector as demanded by the regulating body.

He explained further that, “We are witnessing weak activities in the money market and OMO market auction shouldn’t be an exception.”

Analysts at Coronation Research in their markets in review, Fixed

Income Gains in Q1 2022’ report noted that Nigeria’s money markets in the Q1 2022 proved to be liquid with the result that institutional investors subscribed in high volumes to Nigerian T-bill and Federal Government auctions; “and they were equally active in the secondary markets.”

According to the report, “the overall the secondary market yield for a 1-year T-bill fell by 0.76 per cent (to 4.48 per cent per annum)

while the secondary market yield for the average of our basket of FGN bonds fell by 1.61per cent (to 10.21per cent pa).

“The CBN had restricted Nigerian corporates, and individuals access to the OMO market, also, banks were not allowed to buy T-bills on behalf of borrowing customers. OMO bills had attracted a juicy interest rate of about 15per cent per annum making them one of the most

sought-after securities in Nigeria and indeed emerging markets explaining why foreign investors hold nearly half the size.”

In addition, analysts at Guaranty Trust Holding Company Limited (GTCO) in their economic outlook for 2022 said: “Going into 2022, the general build-up to the 2023 Elections will very likely result in a system awash with liquidity.

“We believe that the apex bank

will tighten the system from the second half of the year just as political campaigns start, to mop-up excess liquidity from the system. Although it is unlikely that the CBN will slow down on its discretional CRR debits, we expect more banks to approach the apex bank for the release of a portion of their ‘excess’ CRR to assist them in funding their transactions, payment of regulatory levies/fees, etc.”

T H I S D AY ˾ MONDAY, MAY 9, 2, 2022

35

BUSINESSWORLD

STATUS REPORT

Neimeth: On the Upward Trajectory

Kayode Tokede

N

eimeth International Pharmaceuticals Plc recorded growths in all key performance indices in 2021 with 27 per cent growth in profit after tax.

The continuous improvement in profitability over the past four years enabled the pharmaceuticals company to increase dividend payout for the 2021 business year, a recommendation that was enthusiastically approved by the shareholders of the company.

The audited report and accounts of Neimeth International for the full year ended September 30, 2021 showed that turnover reached a high of N3.05 billion in 2021 as against N2.84 billion in 2020.

Top-line analysis showed that the company’s human pharmaceutical manufacturing business grew by 13 per cent from N2.5 billion in 2020 to N2.8 billion in 2021.

Operating profit rose from N510.15 million to N553.5 million in 2021. With increasingly effective cost management, the bottom-line expanded considerably. Profit before tax rose by 23 per cent from N297.39 million in 2020 to N365.29 million in 2021.

Profit after tax grew by 27 per cent from N212.48 million in 2020 to N270.58 million in 2021. With this, earning per share rose correspondingly by 27 per cent from 11 kobo in 2020 to 14 kobo in 2021.

Underlying ratios also showed that the outward growth was driven by intrinsic improvement in the core operations of the company. Operating profit margin improved from 17.96 per cent in 2020 to 18.15 per cent. Pre-tax profit margin also increased from 10.46 per cent in 2020 to 11.98 per cent in 2021.

STEADY GROWTH TRAJECTORY A six-year, medium-term, periodic analysis between 2016 and 2021 showed a steady growth trajectory with consistent year-on-year growth in sales and profitability. Over the period, turnover has grown by 52 per cent. Pre-tax profit has grown by 284 per cent.

Profit after tax has risen by 317 per cent. One of the major factors contributing to enhanced profitability over the past few years is management’s consistent focus on absorption of plant operations overhead.

Overhead consists of relatively fixed costs of the plant which must be absorbed by production outputs and if not will become major losses in the business. The 2021 report indicated the highest overhead absorption of N378 million, which was 24 per cent better than the overhead absorption for 2020 financial year at N305 million.

The 2021 overhead absorption was also the highest absorption in five years when compared

with the other years ranging from N164 million to N289 million. So, it wasn’t mere coincidence that 2021 with the highest overhead absorption also had the highest pre-tax profit of N365 million while 2017 with the least overhead absorption recorded a major loss.

The company has consistently recorded profit in the past four years, thereby ending the era of losses that bedeviled the company in the past. Both the turnover and profit grew year-on-year consistently over the four-year period with exception of 2020 financial when there was slight dip against prior year, due to huge foreign exchange loss occasioned by macroeconomic woes caused by COVID-19 pandemic.

SHAREHOLDERS VALUE Neimeth increased dividend payout by eight per cent to 7.0 kobo for the 2021 business year, sustaining the trend started in 2020 when the company paid a dividend per share of 6.5 Kobo; after it had earlier successfully used its profit to restructure its balance sheet and counterbalanced earlier losses. Beyond cash dividend payouts; shareholders of Neimeth have seen significant capital gains as the investing public continued to react positively to the improvements in the company’s fundamentals.

GROWTH PLAN Neimeth is pursuing a multi-pronged strategy to strengthen its position as a leading Nigerian pharmaceutical company and to develop a competitive global capacity that allows it to tap into emerging continental opportunities. As part of the expansion plans, the company is set to build a new manufacturing facility at Amawbia, Anambra State which will comply to World Health Organization (WHO) current standards of Good Manufacturing Practice (cGMP). It is also upgrading its Oregun factory which is billed to be completed this year. The Oregun factory upgrade is expected to increase Neimeth’s manufacturing capacity by more than 300 per cent, particularly of liquid products. This will enable the company to grow more rapidly in both turnover and profit. Amawbia project is also expected to have reached advanced stage of implementation by the end of the current financial year and is expected to contribute to the next business year in 2023.

Also; in pursuit of its corporate vision to be the leading innovative healthcare provider out of Africa, the company is pioneering research and development of African home-grown solutions to various

diseases. Already; it has many therapeutic formulations that will provide solutions to various human and animal diseases.

Neimeth is also partnering with overseas pharmaceutical companies to formulate medicaments for various common ailments on the continent. Currently; it has about 13 different human pharmaceutical lines undergoing registration while about nine veterinary products are underway. About 25 other human pharmaceutical products are scheduled to be submitted to the National Agency for Food and Drug Administration and Control (NAFDAC) for registration soon.

Most of these products are expected to be introduced into the market in the current business year, thus expanding the company’s product portfolio.

Already, shareholders of Neimeth have approved the plan by the company to raise N5 billion through a hybrid offer of rights to existing shareholders and private placement. The company will raise N3.67 billion through rights issue at N1.55 per share and N1.32 billion through private placement at N2.10 per share.

Chairman of the Board of Directors of Neimeth; Dr. Ambrosie Orjiako said the money is being raised for three key reasons. First, is the construction of a World class factory compliant to World Health Organisation (WHO) current Standards of Good Manufacturing Practice (cGMP) at Amawbia in Anambra State. Second is the completion of the on-going facility upgrade at the Company’s Oregun factory and thirdly to boost working capital.

Pharm Matthew Azoji, Managing Director of Neimeth said the capital market is the most viable and cheaper option to source long term funds because of the high cost of funds through other sources. “We cannot finance long term projects with short term funds from banks. That will not be expedient and cost effective. It will also not serve the best interest of shareholders” He explained that the company considered prevailing economic situation in the country that also affect shareholders before deciding to add the private placement equity. “We did not want to put the entire burden of N5 billion on shareholders, that is why we have decided to add private placement to the fund raise,” he said.

INDUSTRY OUTLOOK Neimeth’s growth plan synchronizes well with the buoyant outlook for the Nigerian and Sub Saharan African pharmaceutical industry, which rely heavily on pharmaceutical

imports. A good percentage of Nigeria’s medicine needs and indeed that of Africa is met with imports from China, India and Western countries such as Europe and USA. In 2020 alone, Nigeria imported N562.4 billion or $1.5 billion worth of pharmaceutical products which is about 70 per cent of the country’s annual pharmaceutical consumption.

This implies that there remains a very large room to grow pharmaceutical manufacturing business in Nigeria. Despite government efforts to make Nigeria not only self-sufficient in medicine production but also the hub of pharmaceutical manufacturing in Africa, there continues to be little local drug production.

Local drug manufacturing according to the new National Drug Policy, launched March 2021 account for a mere 30 per cent of drug consumption in the country.

Also, Nigeria’s pharmaceutical exports are hindered by the present low level of internationally recognized current standards of good manufacturing practice certification which, if approved across more local firms, would expose Nigeria to more lucrative trade partners especially in Africa. The perception that the country is riddled with pharmaceuticals counterfeiting further restricts exports even within the West African sub region. In 2020 Nigeria exported pharmaceutical products worth N127.9mn only as Nigerian pharmaceutical manufacturers are yet to rise up to the challenge of the African Continental Free Trade Agreement (AfCFTA) and the opportunities it offers.

Though Nigeria is responsible for 60 per cent of drug manufacturing in Africa her production system and capacity remains residual.

Only four out of over 120 pharmaceutical manufacturers have ever obtained WHO or any other international certification on good manufacturing practice. The implication is that the country is far from being seen to be able to make medicines fit for global consumption.

Nigeria’s new National Drug Policy 2021 targets a 70 per cent increase in capacity between 2021 and 2025. It therefore makes provision for concerted effort in promoting local manufacture of drugs in Nigeria.

The pharmaceutical industry in Nigeria is expected to benefit from the newly launched National Drug Policy. Similar to the NDP, the Federal Government also launched the maiden edition of Nigeria Vaccine Policy (NVP), 2021. This is meant to enhance access and use of vaccines for protection of citizens from infectious diseases. With the Nigeria Vaccine Policy, the government expects to boost local production of vaccines in Nigeria so as to make vaccines available to Nigerians and other West African countries.

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NEWS

L-R: Non-Executive Director, Central Securities Clearing System (CSCS) Plc, Mr. Uche Ikeh; Managing Director/Chief Executive Officer, CSCS Plc,Mr. Haruna Jalo-Waziri; Chairman, Board of Directors, CSCS Plc,Mr. Oscar N. Onyema; Non-Executive Director, CSCS Plc,Ms Tinu Awe; and Non-Executive Director, CSCS Plc, Mr. Patrick Ezeagwu during CSCS 28th Annual General Meeting held in Lagos… recently

Allianz: Russia Invasion of Ukraine Exposes Insurance Industry to Specialist War Policy Claims from Vessel Damages Ebere Nwoji Global insurance giant, Allianz in its 2022 safety and shipping report said that Russia invasion of Ukraine has exposed insurance industry to a number of claims under specialist war policies from vessels damaged or lost to sea mines, rocket attacks and bombings in conflict zones.

Allianz Global Product Leader and Marine Hull, Justus Heinrich, in his report at Allianz Global and Corporate Specialty (AGCS), an annual publication of the insurance giant, said insurers may also receive claims under marine war policies from vessels and cargo blocked or trapped in Ukrainian ports and coastal waters.

According to Allianz, “The evolving range of sanctions against Russian interests presents a sizeable challenge. Violating sanctions can result in severe enforcement action, yet compliance can be a considerable burden. It can be difficult to establish the ultimate owner of a vessel, cargo or counterparty. Sanctions also apply to various parts of the transport supply chain, including banking and insurance, as well as maritime support services, which makes compliance even

more complex.”

According to the report, Russia’s invasion of Ukraine, with the loss of life and vessels in the Black Sea, disruption to trade, and the growing burden of sanctions as well as challenges to day-to-day operations, with knock-on effects for crew, the cost and availability of bunker fuel, and the potential for growing cyber risk will add to insurance claims.

The report said the invasion has further ramifications for a global maritime industry already facing shortages, adding that Russian seafarers account for just over 10 percent of the world’s 1.89 million workforce, while around 4 percent come from Ukraine.

Comparing losses incurred by businesses between last year and the previous years, the Allianz report said 54 large ships lost worldwide last year showing that total losses was down by 57 percent over past decade. Giving country by country analysis of the losses the Allianz report said South China, Indochina, Indonesia, and the Philippines top loss location.It further said the Arabian Gulf saw a significant increase in loss activity to rank second. while British Isles sees most shipping incidents.

It noted that Southeast Asian waters are replacing the Gulf of Guinea as the most dangerous for commercial shipping.

The report observed that the shipping sector has demonstrated tremendous resilience through stormy seas in recent years, as evidenced by the boom seen in several parts of the industry today.

According to Allianz Global Head of Marine Risk Consulting, captain Rahul Khanna, total losses are at record lows – around 50 to 75 a year over the last four years compared with 200+ annually in the 1990s. He however noted that the tragic situation in Ukraine has caused widespread disruption in the Black Sea and elsewhere, exacerbating ongoing supply chain, port congestion, and crew crisis issues caused by the Covid-19 pandemic.

“At the same time, some of the industry’s responses to the shipping boom, such as changing the use of, or extending the working life of, vessels also raise warning flags. Meanwhile, the increasing number of problems posed by large vessels, such as fires, groundings and complex salvage operations, continue to challenge ship owners and their crews.”

Seplat Identifies How to Improve Diversity, Inclusion in Energy Sector Bags sustainability award Nigeria’s leading energy supplier, Seplat Energy Plc has identified how to improve diversity and inclusion in energy sector.

Director, External Affairs and Sustainability, Seplat Energy Plc, Dr Chioma Nwachuku, identified these as the lead speaker at the Africa Women in Energy Forum held in Houston, Texas.

The forum with the theme, “Improving Diversity, Corporate Social Responsibility and Sustainability in the Energy Sector,” was organised by Energy Corporate and Africa.

According to her, “It is proven that the value of decision-making benefits from the strength of diverse perspectives. In the Energy sector, embracing Diversity will be vital for companies looking to drive value creation cum retention toward realizing sustainable business goals in short, medium and long terms.”

“The importance of diversity in all walks of life cannot be overemphasized, as well as the dangers of exclusion. Diversity in the workplace is much more

than checking a box. Research has shown repeatedly that more diverse workforces are better for innovation, result in happier and more productive employees, and increase retention levels.

These dividends ultimately drive economic growth and sustainability globally, ”Nwachuku said.

The Energy Corporate and Africa team also presented to Dr. Nwachuku the “Community Capacity Building & Sustainability” award for her outstanding contributions in community development and sustainability in Seplat’s areas of operation.

On how to improve diversity and inclusion in the energy sector, she noted that there are still many gender barriers and stereotypes that must be broken for the industry to move forward and reach its full potential, particularly with the energy transition drive.

Nwachuku said: “Strengthening gender diversity in the energy industry requires unrelenting long-term efforts to boost

inclusion. Although there is a growing demand for talent, the industry currently faces a significant challenge in finding and retaining talented staff in a competitive global market. The energy sector needs to recruit aggressively in the next decade to enable its workforce to keep pace with the energy transition.

“To truly foster innovation and equity, recruitment needs to include goals to improve diversity within the energy industry. Employees with different backgrounds and lived experiences bring their unique strengths to help teams tackle problems, uncover new ideas, and create the right environment for innovation to thrive.

“McKinsey’s ‘Diversity Matters’ report found that: “Companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians. Conversely, companies in the bottom quartile in these dimensions are statistically less likely to achieve above-average

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‘MDAs Frustrating SMEs’ Development in Nigeria’ Gilbert Ekugbe

L-R: Executive Director, Corporate Services, Nigeria Deposit Insurance Corporation (NDIC), Mrs. Emily Osuji; Managing Director/CEO, NDIC, Mr. Bello Hassan; and Managing Director/CEO Financial Institutions Training Centre (FITC), Ms. Chizor Malize during a courtesy visit by FITC to NDIC in Abuja

APM Terminals, Maersk Collaborate to Increase Efficiency Through Fixed Berthing Windows A remarkable asset turn and operational efficiency improvements have been achieved over the past quarters on the West Africa network with Fixed Berthing Windows (FBW) being one of the key, high-impactful levers.

Fixed Berthing Window was first launched mid-2021 at APM Terminals Apapa, then introducing it at West Africa Container Terminal (WACT) in Onne, Meridian Port Services (MPS) in Tema and APM Terminals Nouakchott later in 2021/22.

Fixed Berthing Windows have

been made possible due to a strong collaboration between teams, creative network solutions and focused execution.

FBW has enabled a reduction of deployed capacity by 15%, while slightly increasing carrying capacity thus allowing TEU saved capacity, improved productivity and reduction in vessel waiting time.

In these extraordinary times, capacity is priceless and asset turn improvement is critical for the success of the company strategy, APM Terminals said.

The company is continuously receiving positive feedback from customers.

Joe Sunxiuwu of Huawei said, “Fixed berth window is a big innovation and improvement. From that, the international leading time from China reduced more than one month. The time saving can drive project delivery completion as earlier as possible and bring lot of profits for Huawei customers, like MTN, Airtel etc.

“Therefore, more and more shipments from Huawei and Huawei

customers request Maersk service.

We hope Maersk can bring more and more good solution service for Huawei to help Huawei customers save cost.“ Other customers, such as NINGBO EAS WELL and HISENSE on behalf of FOUANI, have agreed that there are noticeable service improvements.

Later this year other terminals on the company’s network are also getting on Fixed Berthing Windows – achieving even greater efficiencies and enhanced collaboration.

The Chairman, Phillips Consulting Limited, (PCL), Mr. Foluso Phillips, has stated that Ministries, Departments and Agencies (MDAs) are hindering the growth and development of Small and Medium Enterprises (SMEs) in the country.

He explained that despite the role SMEs play in economic development, the government through MDAs, seems to get in the way of SMEs, saying that SMEs are Nigeria’s opportunity for total economic emancipation.

Phillips stated this at the inauguration of the 19th National president of the Nigerian American Chamber of Commerce (NACC), Dame Adebola Williams in Lagos.

He however charged the NACC to inspire Nigerians to take advantage of the United States of America’s (USA’s) market especially in areas where Nigeria have competitive advantage and global competence.

According to him, there is need to go back to the drawing board for a total change in mindset with respect to trading with the United States, noting that effective trade depends on competitiveness of goods and services offered to the partner country.

“It is not about our government making money from this, it Is for our people to trade their skills and capabilities and be paid handsomely for the global value they offer.

Whilst we cannot manufacture competitively, there are SME’s that are excelling in their own area, and individuals that are doing more where their talent come to play. In the case of Nigeria, we are defining

our competitiveness in unexpected areas that are glaring but not obvious, ”he said.

Meanwhile, the PCL boss stated that Nigeria alone accounted for 50 per cent of remittances worth $23 billion to sub-Saharan Africa estimated at $45 billion in 2021 stressing that Nigeria continues to dominate remittance inflows into Sub-Saharan Africa given the exceptional size of the Nigerian migrant base (an estimated 800,000 persons) concentrated in two key host countries, the United States (375,000) and the United Kingdom (220,000).

Earlier, the Chairman and Publisher, Guardian Newspapers, Lady Maiden Alex-Ibru, said Nigeria has continued to grow the number of highly successful Nigerian professionals in the United States, across the healthcare, governmental science and technology spheres to mention a few.

She added that as of 2020 alone, over 3800 Nigerian doctors were licensed to practice medicine in America, saying that their remittances contributed to the global remittances to Nigeria exceeding N14.2 billion in 2021 alone.

On her part, the National president (NACC), Dame Adebola Wllliams, said her administration would strive to boost activities and schemes aimed at enabling members of the chamber to package their products for exports to the United States of America.

She tasked the government to continue to expend efforts at revitalising Micro, Small, and Medium Enterprises (MSME) to enable them to recoup their losses as global economies recover from the impact of the coronavirus pandemic.

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HOMES&DESIGN Rachel Court, IL Bagno’s Edifice, Lights Up Abuja Gudu District

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HOMES&DESIGN

Daylight’s Delight, Jewel at Night Rachel Court is a beautiful sight to behold in the usually serene Gudu District outside Abuja’s city centre. The structure is a fine piece of real estate rendered by the parent company, the Black Pelican. It is a marked improvement on the equally sturdy edifice on Goshen Estate Road, Lekki-Epe Expressway, Lagos. Bennett Oghifo writes

R

achel Court is a head-turner any day, and its stunning look is made more pronounced by its strategic location on Rachel T. Owolabi Close Gaduwa, Gudu District.

The building, a mix of European and oriental design, is rendered in polished ceramics cladding and a tinted blue glass facade. Rachel Court is one of its kind in the whole of Gudu, an established district in Phase 2 of Abuja city. It is also sometimes known as Apo-Gudu.

Gudu District occupies a strategic location just outside Abuja’s city centre, and it is residential but has quite an extensive commercial stretch, and this is the section IL Bagno rules.

Although well-populated, it is not as dense or busy as neighbouring areas like Garki. There are plenty of opportunities for recreation and relaxation in the neighbourhood, like bars, eateries and clubs, hotels and schools. The famous Gudu Market is located here. This is chiefly an electrical parts market, although there is an assigned section for selling foodstuffs.

Rachel Court is near interesting places like Baytown Lounge, Chloe’s Cupcake Heaven, Apo Legislative Quarters, Sentosa Park and Xcell Plus Gym & Spa. The exquisite Court hosts IL Bagno, the regional distributor for

the world’s leading manufacturers of sanitary fittings, kitchen, tiles, doors and other interior solutions.

They excel in providing total interior solutions, creating unique and innovative bathroom themes for both the domestic and commercial markets.

“At IL Bagno, we believe that in addition to its utilitarian significance, the interior space should provide a relaxing atmosphere, reflecting the taste, personality and lifestyle of our customers; hence our design solutions provide the mood and warmth that transform an anonymous interior into a place of elegance – a sanctuary. Before now, the discerning

user had little choice in the selection of appropriate fittings to accommodate both functionality and elegance that adequately reflects their taste,” said the Chairman of the Black Pelican Group, Michael Owolabi.

IL Bagno offers sanitary wares and solutions such as bathtubs, showers, bathroom accessories, and other interior décor products such as kitchens, furniture, fittings, tiles, lighting, and much more; all from the most prestigious award-winning brands across the globe.

IL Bagno’s product and service offerings are targeted at high and middle-income earners, and the company provides innovative interior solutions for the domestic and commercial markets.

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Editor: Obinna Chima obinna.chima@thisdaylive.com 08024557078

CBN’s Proactive Intervention i n Oil Pa l m D e ve l o p m e n t

James Emejo, writes that amidst the current global supply shortfall in palm oil, the Central Bank of Nigeria’s foresight in initiating measures towards self-sustenance through the development of the sector is paying-off

A

ccording to recent reports, Indonesia, which accounts for 35 per cent of global palm oil exports, has suspended all exports of the highly essential commodity in a bid to bring down prices in the country and limit shortages.

The country’s decision to halt further exports in the face of domestic shortages had reportedly pushed vegetable oil prices to new highs, further tightening a market already unsettled due to the war in Ukraine and global warming.

The development has resulted in global supply deficit given that palm oil remained the most consumed vegetable oil in the world as the commodity is used heavily in processed food including instant noodles and baked goods as well as present in other consumer products, namely personal care items and cosmetics.

HUGE POTENTIAL BUT NEGLECTED Ordinarily, the global supply gaps in palm oil ought to have put at a vantage position if the sector had been given the required attention over time. But, in spite of its huge potential, past administrations had neglected the oil palm development and agriculture in particular.

In Nigeria, stakeholders believed that the oil palm value chain had enormous potential to restore the country back as a major producer controlling about 80 per cent of the market share but the lack of serious policy intervention had sidelined other non-oil segments.

At a recent summit of operators in the oil palm sector, the stakeholders had pointed out that the Nigerian oil palm sub-sector had nose-dived from its enviable position as a top export commodity income earner in the 1960s adding that despite being produced in 25 states of the federation, over $500 million goes into importation of palm oil annually, therefore restricting the country to the unenviable 5th producer of the commodity globally.

The stakeholders, in a communiqué issued at the end of a 2-day workshop and policy dialogue on “Pathways to Inclusive Policies and Climate Resilient Oil Palm Development in Nigeria”, which was organised by Solidaridad West Africa (SWA), further called on the government to deliberately dedicate a minimum of 60 per cent of the agriculture budget to capital projects to encourage diversification of the economy.

PRODUCTION HICCUPS The country’s oil palm industry is among other things plagued by the lack of proper scaling of milling technology which result in sub-optimal output, according to the CBN. It is further weakened by the inefficient synergy between stakeholders in the value chain; and the inability of the small millers to meet industrial quality, quantity and timeliness of delivery among others.

Oil palm production per annum is currently 1,250,000 million metric tons (MT) with current demand at 2,500,00 MT per annum.

Meeting local demand for both the Technical Palm Oil (TPO) used in industry and Special Palm Oil (SPO) used by households requires about $60 billion per annual

CBN’S RESCUE MISSION THROUGH ABP Although the consequences of the global supply deficit in palm oil had started to bite especially in economies around the world particularly those who make use of the commodity in food and cosmetics manufacturing, the consequence has been little or minimal in Nigeria.

All accolades have gone to the CBN Governor, Mr. Godwin Emefiele, whom analysts commend for his visionary leadership in making Nigeria great again, especially in the areas of agriculture and other critical sectors.

Through the Anchor Borrowers Programme

CBN Governor, Godwin Emefiele (ABP), launched in 2015, among other intervention schemes, the CBN has revolutionised agricultural practice whereby smallholder farmers who hitherto could not approach commercial banks for loans, are now being granted credit facilities in the forms of inputs like seedlings, fertilizer and herbicides.

The ABP is particularly popular for revolutionizing local rice production and significantly reducing the country’s food import bill.

The oil palm industry, neglected over the past decades despite its promises to stimulate economic growth, has thankfully been a beneficiary of the apex bank’s intervention programmes aimed at repositioning agriculture.

UNPRECEDENTED FUNDING SUPPORT AMIDST CRITICISM A few have questioned the incursion of the CBN into key sectors of the economy even though the positive results are there to show. Following up with its developmental mandate aside that of monetary stability, the apex bank under Emefiele has demonstrated how central banks can help to boost economic growth.

Yet, many have wondered what fate could have befallen the country if the CBN had not intervened in critical sectors of the economy especially agriculture amidst volatility in global commodity prices and supply.

Emefiele said the apex bank’s intervention will help to unleash the potential of the oil palm value chain with accompanying support for the economic diversification plan as well as the industrialisation aspiration of the country.

According to data from the CBN, to date, a total sum of N45.03 billion had been disbursed by the bank to stakeholders in the oil palm

industry including the major producers, Small and Medium Enterprises (SMEs) and smallholders’ operators, to cultivate about 31, 442 hectares to grow the commodity.

The central bank said the country needed about N60 billion annually for the importation of palm oil to meet domestic consumption covering both the Technical Palm Oil (TPO) used in industry and Special Palm Oil (SPO) used by households.

According to the apex bank, the country’s palm oil production per annum is currently estimated at 1,250,000 million metric tons (MT) with demand valued at 2,500,00 MT per annum.

According to the CBN, for the country to achieve 50 per cent import substitution through production upgrade within the next 10 years, there is a need to bridge demand deficits for domestic production of fresh fruit bunches from 8.5 million MT in 2010 to about 10 million MT. According to the fourth quarter 2021 trade statistics by the National Bureau of Statistics (NBS), crude palm oil imports from China totaled N20.28 billion and N16.49 billion from Malaysia as well as palm olein worth N31.43 billion imported from Malaysia.

The ABP was launched in 2015 to curtail excessive imports particularly palm oil and other food products that could be competitively grown in the country.

Emefiele, said recently that the achievements so far recorded in the implementation of the ABP had started to record giant strides in the production of maize and cassava and expressed optimism that in the next 12 months, palm produce harvests would have commenced in the country.

The CBN governor, who stressed that agriculture remained a strong pillar for Nigerian economy, had expressed satisfaction

over the level of interest shown in agriculture and the tremendous impacts that the sector had recorded in the last six years.

Emefiele, like several other Nigerians, had particularly wondered how the country would have coped with the rising prices of food and commodity items across the world - without the foresight to revamp agriculture.

The apex bank boss, in a document, further disclosed that the ultimate objective of the CBN intervention in the oil palm sector was to overtake Thailand and Colombia to become the third-largest producer over the next few years through increased oil palm production by 2028.

He said, “Core objectives of the intervention include, to meet local demand for palm oil and improve local processing quality and standards; conserve foreign exchange; create jobs and enhance the skills of Nigerian people along the oil palm value chain.”

Other objectives of the funding support to the sector are to facilitate easier access to funding for oil majors, SMEs and smallholder farmers as well as improve and grow the economy.

Emefiele, after an assessment of oil palm estates in Edo State recently, had disclosed that Specifically, two companies, Okomu Oil and Presco Oil, which are involved in oil palm production in Edo State had received about N20 billion to boost their operations while Greenfield, another firm involved in the production of ethanol in the state had also been granted N7 million under the CBN’s ABP. Emefiele said, “In South-South where I come from, and where I have been personally criticised: In Edo State where Governor Obaseki comes from, we have disbursed over N10 billion. Some of you may have seen some of our programmes in Edo State in 2019 where we advocated the provision of land to companies that are interested in palm plantation as well as in cassava.

“We disbursed about N7 million to a company called Greenfield that is building an ethanol plant in Edo State. We will be doing anchor borrowers for cassava farmers that will feed the ethanol plant.

“In Edo State, Okomu is there, Presco is there and they know that we have disbursed to the two of them close or more than N20 billion to expand their palm plantations.

“If you go to the Nigerian Stock Exchange, you will find that today, Presco and Okomu, their profitability and their dividends payout is unassailable among other companies involved in producing palm and palm oil in Nigeria.”

Emefiele, further explained that it was for this reason that the CBN believed and decided that since the country could produce crude palm oil, “we placed palm oil on our FX restriction.”

He said, “Today, people are making money producing palm oil and selling and people refining and they are making money.”

FORECAST The apex bank altogether hopes to cultivate 350,000 hectares of palm oil by 2028 by funding oil palm majors and SME that meet funding requirements for plantation development and mill construction.

This is expected to close the supply gap and enable the industry to meet local demand, improve local processing quality standards and conserve foreign exchange of about $500 million annually.

The CBN also seeks to develop a framework for the inclusion of smallholder farmers given their potential as well as facilitate stakeholder engagement towards supporting the industry.

Furthermore, the CBN interventions are expected to increase production from 1,250,000 million metric tons to 2,500,000 million metric tons by 2026.

Emefiele said the bank’s intervention in the oil palm sector will be able to unleash the potential of the value chain with accompanying support for the economic diversification plan as well as the industrialization aspiration of the country.

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BUSINESS SPECIAL

INTERVIEW

Brown: Nigeria Has Enormous Un t a p p e d G as Potential The Chief Executive Officer of Seplat Energy, Roger Brown, in this interview on the sidelines of the recently held Offshore Technology Conference in Houston, Texas, spoke about the company’s energy transition initiatives. Obinna Chima brings the excerpts: What is your take about participation in this year’s Offshore Technology Conference (OTC)? t is great to be at the OTC. But it is unfortunate that a lot of government partners are not here. But at least there is a good representation. It was nice to see the exhibitions and good to see some of our contractors that we don’t get to see that often and we saw a lot of technologists that are key to what we do.

With our transition, we must get superefficient at what we do, particularly in the upstream and technology is very critical.

The theme around this conference is energy transition and we are aware that Seplat is doing a lot around that. You had a name change recently. Can you tell us some of the things you are doing around energy transition and secondly you released your results recently and what we saw was that you are making huge divestments from your Ubima field, can you tell us what informed that decision?

When you look our business, you look at it from three legs. The first leg is what we are known for which is the upstream oil and gas; we are going to continue doing well into the future because we think it is very relevant and in Nigeria, we have a lot of reserves. But we want to decarbonise that element of business by being more efficient. Like using solar to power instead of using oil or gas. The second leg is an area that we developed a long time ago in 2012, which is the gas business. It is gas processing. At the moment we have open gas plant and we are finishing the Assa North-Ohaji South (ANOH) by the middle of next year and we are also operating the Sapele Gas plant at the moment, putting on LPG to broaden that second pillar of our business which is gas processing going down into electricity following the conversion of molecular into electron.

That then provides a bridge to the renewable side, which is the third leg of our business. And that really is about looking at what renewable technologies that would dovetail into our business would be the best for Nigeria going forward. Our view is that solar is probably the most likely for us in the country, even though there would be some wind opportunities. So, I think for our business model, solar is probably going to be the one to be favoured. But we are doing studies and we are working through that; we have a new energy division that we put together and we would be making some investments in the coming months or years. But I keep repeating that there are three legs to the story. Now, to the question around Ubima and why we divested, I think what you would see with Seplat going forward is that we are respecting government processes as you are aware that the acquisition of Mobil Producing is still subject to government concerns. But there would be certain key assets which we are focusing on. For Ubima, we inherited that asset when we acquired Eland Oil and Gas

became commercial in-country, and I am talking about domestic gas. And we saw that as a good business opportunity. We are a big believer in domestic gas, we also believe in NLNG, but if all the gas is being exported, it would be bad for Nigeria. So, we need to develop more domestic gas.

Why? That is because diesel use in-country is insane. The average amount of money an average Nigerian spends on power and electricity from diesel and petrol for generators is huge and holding back the country. It is very noisy, five times more expensive than gas and doesn’t create jobs for the country. Companies can’t afford to run on expensive diesel and petrol and trigger development. So, gas would be an enormous catalyst. We work for government and we would love it to be faster. There are some modality issues and some challenges in terms of infrastructure, but we firmly believe in it. Gas still holds a minority position until much later in the future.

But that is only because of turnover and profit numbers.

I

Brown

and there was a small investment on that marginal field. On that marginal field, we had two million barrels on our reserves and we discussed with our partners and they were interested in buying us out and so felt that made a good business sense. So, that is why we exiting the asset.

Can you tell us more about the ANOH gas and what are the likely benefits for all stakeholders when it is completed next year?

ANOH is a game-changer in terms of gas business. So, by middle of next year we would be up and running.

The first gas is being delayed because one of the pipelines that is expected is being delayed by supply chain issues of getting steel pipes from China. But what does that business really entail?

“It is a big part of it. We started investing in gas in 2012. When we first bought off those assets from Shell, gas had no value, it was a headache. What we found over the years was that it became commercial in-country, and I am talking about domestic gas.”

For us, it is a 300 million standard cubic feet of (scuf) gas per day plant added to dry has processing. The ANOH field which is one of the biggest onshore gas fields in Nigeria is a condensate-rich field. So, the liquid in the gas is very rich and has two reservoirs. One of them is particular rich in condensate. So, when we start producing, our working interest element would add almost 10,000 per day production in condensate. So, in terms of working interest, we get 50 per cent of the 300 million scuf, plus almost 10,000 a day production.

That is a material game-changing for us as a business. It tends reinforces our case potential in-country and that makes us the biggest gas processor in the country, next to the government of Nigeria. That is a very important part of our business model. So, we are very keen on that and our gas plant would be ready this year and then we wait for ANOH to come in next year.

So, how does these align with understanding how gas is at the centerpiece of energy transition in Nigeria?

It is a big part of it. We started investing in gas in 2012. When we first bought off those assets from Shell, gas had no value, it was a headache. What we found over the years was that it

What informed your decision for going for the Mobil Producing?

We look at all acquisitions objectively and look at the merits and demerits. What we like about the Mobil Producing Nigeria is that it is a business. We are not just buying an asset; we are buying a business that has assets, two terminals, infrastructure, over 1,000 Nigerian employees, it has buildings and it is a going concern. What attracted us to that business was that the employees are well-trained, they are mostly Nigerians and that brings us a lot of skills.

It is shallow-water and onshore and when you look at our business model, you will see that it is a good balance for us. Yes, it is more expensive to extract, but the dying time is a lot less, the theft level is a lot less and that business has huge potential. So, beyond the normal potential, there is also a massive gas potential which we think is around 7.3 tcf as we have estimate of gas and that gas is being dried offshore and it is well primed for liquefied natural gas exports. Europe in the future is going to be buying gas from Africa, if Africa gets it right and if Africa makes investments, Europe would provide long-term off-takes.

What does that do for Africa and Nigeria?

That would be very good for investments in the country. We believe that Nigeria has an enormous untapped potential for gas.

To what extend will you say the delay in implementing the Petroleum Industry Act (PIA) is impacting your operations?

I don’t think it impacts us much. It has more impact on the deep water players and the international oil companies (IOCs). For us, all we want is clarity. So, new legislation comes in and if it is hanging for a long time, it creates uncertainty in the market, particularly for investors. Passing the PIA was a material thing to do, but what we are doing is looking at which assets are we going to convert to PIA and which assets how benefits are the conversion. What we are waiting on the government and regulatory bodies is that the PIA is a sort of legislation that sort of set the framework, but what the PIA doesn’t do is to give a roadmap for implementation. So, that needs to work through the system working with government. But we are excited about what the future holds with the PIA, but I think giving the clarity to us and our external investors would be a good thing.

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MONDAY MAY 9, 2022 • T H I S D AY

MONDAY MAY 9, 2022 • T H I S D AY

45

46

T H I S D AY ˾ ˜ MAY 9, 2022

BUSINESS/MONEYGUIDE

Unity Bank Announces 49.9% Increase in Profit to N3.33bn in 2021FY Kayode Tokede Unity Bank Plc has declared a profit before tax of N3.33 billion in the financial year ended December 31, 2021, indicating a 49.9 per cent increase from the N2.22 billion it reportedin 2020.

Similarly, review of the lender’s 2021 full-year result filed with the Nigeria Exchange Limited (NGX) showed a significant improvement in its bottom line as profit after tax rose by 52.1 percent to N3.17 billion from N2.09 recorded in the corresponding period of 2021.

The bank also grew gross earnings, rising by 8.1 per cent to N50.28 billion from N46.52 billion in 2021.

This comes on the heels of a faster than expected recovery from the disruptions of the COVID-19 pandemic, which provided an opportunity for the lender to expand its retail footprint through strategic

product offerings that appealed to broader segments of the market.

Another key highlight of the agribusiness-focused lender’s financial performance is the growth of its assets, which rose by 9.5 per cent to close at N538.87 billion from N482.02 billion in 2020, cumulating three years of consecutive high growth.

Equally, the Bank grew assets by 39 per cent and 67.9 percent in 2019 and 2020 respectively to see a rebound with an even greater resurgence in the lender’s profitability for two successive years. Also, in the year under review, the lender grew its loan portfolio significantly, increasing by 33.2 per cent to N269.27 billion from N202.08 billion, following the Bank’s aggressive focus on boosting its liquid assets base.

Another top-line performance of the audited financial statements recorded was growth in the

lender’s net operating income, which rose to N28.41 billion from N21.3 billion in the corresponding period of 2020, representing a 10.9 per cent increase.

This is even as the net interest income recorded a significant jump by 12.2 per cent to N20.05 billion from N17.74 billion in the corresponding period of 2020.

Earnings per Share closed at 27.15 Kobo.

The Managing Director/CEO, Unity Bank, Mrs. Tomi Somefun, in a statement stated that the key performance indicators have continued on a trajectory of healthy balance sheet growth, asset quality and profitability achieved on the back of deft diversification of the Bank’s earnings base that balances out fairly in asset creation, investments and trade activities and riding on the innovative customer-centric product offerings for both the retail and consumer segments of the market

L- R: Sustainability Manager, Seplat Energy Plc, Charles Sokeinaye; Brand Coordinator of Seplat Energy Plc, Adeola Daodu; Director External Affairs & Sustainability, Seplat Energy, Dr Chioma Nwachuku, (the award recipient for Community Capacity Building and Sustainability) and Judith Oloughlin a guest at the Africa Women in Energy Forum held in Houston,Texas...recently

MARKET INDICATORS

Experts Decry Rising National Debt, Poor Infrastructure Olawale Ajimotokan ÓØ ÌßÔË Panelists at the 2022 Infrastructure Dialogue, held in Abuja have criticised the nation’s debt profile and corresponding poor infrastructure.

One of the speakers, Prof Osita Ogbu, warned that there would be repercussions if the debts are rising while productivity is low and the infrastructure stock is not rising. The country’s total public debt according to the Debt Management Office (DMO) is $92.6 billion.

Ogbu, a former Presidential Economic Adviser during the Obasanjo administration, noted that the country can’t continue to borrow to consume if the cost of governance consumes five per cent of its revenue.

“You already know that something is wrong. We have an Oronsaye report that says we must collapse infrastructure. There

are people that go to work on a daily basis-for one year, two years, three years, four years- and they have not produced one thing. There are refineries that produce nothing but incur billions in cost and you are asking me to advise, what are you asking me to advise? Is the advice not obvious?” Ogbu quipped.

The professor of economics, described as a fallacy the notion that government has no business in running business, adding that as long as the national politics is wrong, the economics will also take a hit. Also a former Economic Adviser, Office for National Statistics, UK, Dr Kayode Adaramodu, warned that Nigeria will not get anywhere without a national plan.

He urged policy formulators to get the country’s policy right saying a borrowed Western policy will not work for the country.

“Taking debt is not a problem

but borrowing for consumption is a problem”, Adaramodu said.

The former banker said Nigeria does not have anything to fund its 2021 federal budget projected at $34.51billion, while also warning that the country won’t go anywhere until it becomes productive.

In his presentation, the Managing Partner, Deutsch Partners Holding (DPH), Dr Onuoha Nnachi, identified Nigeria’s infrastructure deficit as one of the biggest factors holding back its growth and development.

He said the country’s financing shortfall for infrastructure will be a staggering $3 trillion over the next 30 years.

According to the DMO, the value of the country’s total infrastructure stock represents only 35 per cent of the GDP, which is significantly below the 70 per cent average for an emerging economy.

Shareholders Approve Fidelity Bank’s N0.35kobo Dividend, Capital Raising Kayode Tokede Shareholders of Fidelity Bank Plc have unanimously endorsed the payment of a cash dividend of 35 kobo per share to all shareholders.

The shareholders who commended the bank’s sterling performance at the 34th Annual General Meeting (AGM) of the bank held in Lagos also among other things authorised the board of directors, “to undertake as it deems appropriate and in accordance with applicable laws, any actions, business combinations or transactions, including but not limited to investment, acquisition, restructuring, capital raising, expansion or business arrangement required to secure a competitive advantage for the Company.”

Shareholders who spoke at the meeting including Sir Sunny Nwosu, Mr. Nonah Awoh, Mrs. Bisi Bakare, Chief Timothy Adesiyan and Mr. Gbenga Idowu were unanimous in their commendation of the board and management of Fidelity Bank, for the impressive financial performance which have translated to higher dividends for them (shareholders).

The Chairman of the Board

of Directors of Fidelity Bank, Mustafa Chike-Obi reassured shareholders at the AGM that the board and management of the bank would maintain the high corporate governance standard synonymous with Fidelity Bank and also ensure the bank continued in its growth trajectory in the years ahead.

“We will continue to strengthen our enterprise risk management capabilities to ensure the sustainability of our business, while modeling our governance practices to align with international best practice”, said Chike-Obi. Chike-Obi noted that the last fiscal year was a period of consolidation and growth in our Bank.

“Despite the challenges in the operating environment, we were resolute in the execution of our strategy. We paid particular attention to optimizing our balance sheet and strengthening our risk management structures. We aggressively pursued an automation framework to increase digital footprints and migrate more customers to electronic platforms.

“Going forward, our business will be driven by technology and innovation. We will optimize current processes through

digitization and automation to allow for improved service quality. We will deploy predictive tools to enhance customer experience. In recent times, there has been significant increase in migration of skilled manpower from Nigeria to more developed economies. Consequently, we will institutionalise remote working protocols to enable us attract and retain the best talents,” he stated further.

The Chief Executive officer, Fidelity Bank, Mrs. Nneka Onyeali-Ikpe noted that the digital banking products gained traction during the year driven by new initiatives in the retaillending segment and increased cross-selling of our digital banking products.

“Today, Fidelity Bank is one of the best managed commercial banks in the country and is currently ranked the 6th largest bank in the Nigerian banking industry with a market share of above five per cent across key indices.

Our aspiration is to grow your bank’s market share to at least 7.5 per cent across key indices as it evolves into a global financial services brand by driving expansion in new business segments within and beyond the shores of Nigeria,” she said.

MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JANUARY 2021 Money Supply (M3)

38,779,455.43

-- CBN Bills Held by Money Holding Sectors

1,039,129.55

Money Supply (M2)

37,740,325.88

-- Quasi Money

21,779,302.69

-- Narrow Money (M1)

15,961,023.19

---- Currency Outside Banks

2,364,871.13

---- Demand Deposits

13,596,152.06

Net Foreign Assets (NFA)

7,414,275.50

Net Domestic Assets(NDA)

31,365,179.93

-- Net Domestic Credit (NDC)

42,916,586.63

---- Credit to Government (Net)

12,304,773.44

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

30,611,813.19

--Other Assets Net

3,892,112.74

Reserve Money (Base Money

13,264,585.14

--Currency in Circulation

2,831,167.19

--Banks Reserves --Special Intervention Reserves

10,433,417.96 317,234.17

˾ ÙßÜÍÏ ̋

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

˾ ÙØÏÞËÜã ÙÖÓÍã ËÞÏ ̋ ͯͱϱ

OPEC DAILY BASKET PRICE AS AT FRIDAY APRIL 29, 2022

The price of OPEC basket of thirteen crudes stood at $105.33 a barrel on Wednesday, compared with $102.94 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

47

T H I S D AY ˾ ˜ ͷ˜ ͰͮͰͰ

Onyema: CSCS to Deliver Superior Performance, Create Wealth for Shareholders Kayode Tokede The Chairman, Board of Directors of Central Securities Clearing System (CSCS) Plc, Mr. Oscar Onyema, has stated that with the support of shareholders and other stakeholders, the company will continue to deliver superior performance and create wealth for shareholders.

Addressing shareholders at the company’s 28th Annual General

Meeting (AGM) held in Lagos over the weekend, Onyema, said: “Notwithstanding the volatile operating environment and moderated capital flows, as reflected in the subdued capital market activities, the earnings fundamentals of your Company remained resilient and indeed stronger than ever.

“This fact is evident in the impressive revenue growth of 39.2per cent, driven by stellar

P R I C E S MAIN BOARD

F O R DEALS

growth in ancillary income. The equity market recorded one of the weakest secondary market activities in the past few years, with the average daily trade value of N3.9billion, some 10per cent below the trading activity recorded in 2020 financial year, explaining the tepid transaction fees.

“Albeit income from ancillary services recorded a significant boost, contributing N2.2billion

S E C U R I T I E S MARKET PRICE

QUANTITY TRADED

or 21.5 per cent of total income in 2021FY, from N526million or 11.3 per cent of total income in 2020FY. This performance reinforces the capacity of the Management in delivering on the Board’s vision result of diversifying the business and enhancing the value accretion prospect to shareholders in a sustainable manner.”

Speaking, the Chief Executive Officer, CSCS Plc, Mr. Haruna

T R A D E D

VALUE TRADED ( N )

MAIN BOARD

A S

Jalo-Waziri, said; “Reflecting the ingenuity of our participants and more importantly quick adoption of new remote access technologies, the Nigerian capital market remained active through the prolonged COVID-19 crisis. The collaboration of our regulator and participants has been incredible in sustaining our operational protocols and IOSCO PFMI standards.”

“Though clearing and settle-

O F

0 6

ment activity waned by 10.2 per cent due to lower participation of foreign investors in the Nigerian equity market and a host of macro challenges, we are excited at the growth in our depository assets by 6.1 per cent to N23.0trillion, reflecting new listings of securities across our multiple Exchange partners as well as issuers’ and investors’ confidence in the safety and secured accessibility of our systems.

/ 0 5 / 2 0 2 2 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

48

MONDAY MAY 9, 2022 • T H I S D AY

49

MONDAY, MAY 9, 2022 • T H I S D AY

MARKET NEWS A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 05May-2022, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 199.11 200.26 19.26% Afrinvest Plutus Fund 100.00 100.00 5.78% Nigeria International Debt Fund 319.07 319.07 4.16% Afrinvest Dollar Fund 105.20 106.35 6.63% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 8.58% AIICO Balanced Fund 3.67 3.73 3.55% ANCHORIA ASSET MANAGEMENT LIMITED info@anchoriaam.com Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market N/A N/A N/A Anchoria Equity Fund N/A N/A N/A Anchoria Fixed Income Fund N/A N/A N/A info@anchoriaam.com ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 22.29 22.96 9.89% ARM Discovery Balanced Fund 503.33 518.51 11.56% ARM Ethical Fund 42.33 43.61 8.66% ARM Eurobond Fund ($) 1.06 1.06 -1.87% ARM Fixed Income Fund 1.03 1.04 2.22% ARM Money Market Fund 1.00 1.00 5.55% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn AVA GAM Fixed Income Dollar Fund 105.05 105.05 7.92% AVA GAM Fixed Income Dollar Naira 1,101.95 1,101.95 10.20% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund N/A N/A N/A AXA Mansard Money Market Fund N/A N/A N/A CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn CEAT Fixed Income Fund 2.10 2.10 7.07% Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) 2.36 2.41 25.82% CAPITALTRUST INVESTMENTS AND ASSET MANAGEMENT LIMITED halalfif@capitaltrustnigeria.com Web: www.capitaltrustnigeria.com; Tel: 08061458806 Fund Name Bid Price Offer Price Yield / T-Rtn Capitaltrust Halal Fixed Income Fund 1,011.08 1,011.08 3.35% CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn CardinalStone Fixed Income Alpha Fund 1.04 1.04 2.86% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 7.73% Paramount Equity Fund 20.18 20.57 15.77% Women's Investment Fund 153.21 155.06 7.88% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 4.96% Cordros Milestone Fund 136.12 137.04 9.16% Cordros Dollar Fund ($) 109.09 109.09 4.82% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A N/A N/A N/A EDC Nigeria Money Market Fund Class B N/A N/A N/A EDC Nigeria Fixed Income Fund N/A N/A N/A EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 1.00 1.00 8.35% Emerging Africa Bond Fund 1.04 1.04 7.32% Emerging Africa Balanced Diversity Fund 1.06 1.06 16.70% Emerging Africa Eurobond Fund 102.18 102.18 4.12% FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Bond Fund 1447.01 1447.01 10.36% FBN Balanced Fund 194.68 196.06 11.08% FBN Halal Fund 119.25 119.25 9.20% FBN Money Market Fund 100.00 100.00 6.31% FBN Dollar Fund (Retail) 123.58 123.58 4.67% FBN Nigeria Smart Beta Equity Fund 168.89 171.15 10.95% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund 1.00 1.00 5.30% Legacy Debt Fund 3.98 3.98 -0.55% Legacy Equity Fund 1.93 1.97 11.06% Legacy USD Bond Fund 1.22 1.22 1.29% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn

Coral Balanced Fund Coral Income Fund Coral Money Market Fund

4,199.31 3,542.47 100.00

4,267.21 3,542.47 100.00

23.50% 6.24% 6.03%

FSDH Dollar Fund 1.10 1.10 3.63% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 4.64% Vantage Balanced Fund 3.00 3.07 5.13% Vantage Guaranteed Income Fund 1.00 1.00 4.50% Kedari Investment Fund (KIF) 139.94 139.94 2.13% Vantage Equity Income Fund (VEIF) - June Year End 1.32 1.36 4.50% Vantage Dollar Fund (VDF) - June Year End 1.08 1.08 4.14% LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.54 1.56 6.62% Lotus Halal Fixed Income Fund 1,152.68 1,152.68 3.55% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund N/A N/A N/A Meristem Money Market Fund N/A N/A N/A NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED enquiries@norrenberger.com Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Islamic Fund (NIF) 101.28 101.28 5.16% Norrenberger Money Market Fund (NMMF) 100.00 100.00 8.08% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund N/A N/A N/A PACAM Fixed Income Fund N/A N/A N/A PACAM Money Market Fund N/A N/A N/A PACAM Equity Fund N/A N/A N/A PACAM EuroBond Fund N/A N/A N/A SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 133.72 136.55 6.38% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.02 1.02 9.25% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 3,697.28 3,739.48 7.41% Stanbic IBTC Bond Fund 238.42 238.42 1.14% Stanbic IBTC Ethical Fund 1.48 1.51 15.00% Stanbic IBTC Guaranteed Investment Fund 319.04 319.04 1.82% Stanbic IBTC Iman Fund 270.80 274.99 11.89% Stanbic IBTC Money Market Fund 1.00 1.00 3.39% Stanbic IBTC Nigerian Equity Fund 12,421.62 12,598.64 11.83% Stanbic IBTC Dollar Fund (USD) 1.31 1.31 1.62% Stanbic IBTC Shariah Fixed Income Fund 118.23 118.23 1.08% Stanbic IBTC Enhanced Short-Term Fixed Income Fund 109.02 109.02 2.38% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Equity Fund 1.02 1.05 10.32% United Capital Balanced Fund 1.49 1.51 9.13% United Capital Wealth for Women Fund 1.20 1.22 10.59% United Capital Sukuk Fund 1.10 1.10 2.53% United Capital Fixed Income Fund 2.00 2.00 2.31% United Capital Eurobond Fund 124.56 124.56 1.82% United Capital Money Market Fund 1.00 1.00 5.58% QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD service@quantumzenithasset.com.ng Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Balanced Strategy Fund 13.98 14.11 6.00% Zenith ESG Impact Fund 16.31 16.49 11.65% Zenith Income Fund 22.54 22.54 2.37% Zenith Money Market Fund 1.00 1.00 5.39% VETIVA FUND MANAGERS LTD funds@vetiva.com Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Bid Price Offer Price Yield / T-Rtn Vetiva Banking Exchange Traded Fund 4.25 4.35 5.94% Vetiva Consumer Goods Exchange Traded Fund 6.49 6.59 10.91% Vetiva Griffin 30 Exchange Traded Fund 19.68 19.88 11.23% Vetiva Money Market Fund 1.00 1.00 5.24% Vetiva Industrial Goods Exchange Traded Fund 22.43 22.63 12.18% Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund 166.21 168.21 5.32%

REITS NAV Per Share

Yield / T-Rtn

122.16 53.16

1.62% 0.82%

Bid Price

Offer Price

Yield / T-Rtn

15.30 148.02 116.59 22.79 23.24

15.40 151.65 119.12 22.89 23.34

9.49% 12.44% 12.50% 0.00% 0.00%

NAV Per Share

Yield / T-Rtn

107.55

12.10%

Fund Name SFS REIT Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund MERGROWTH ETF MERVALUE ETF

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

50

MONDAY MAY 9, 2022 • T H I S D AY

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T H I S D AY • MONDAY, MAY 9, 2022

NEWSXTRA

SYNOD THANKSGIVING OF THE METROPOLITAN DIOCESE...

L-R: Lay President, Metropolitan Diocese of Ikeja, Sir Frederick Ogunjuboun; Bishop Stephen Tunde Adegbite; Guest Preacher, Very Rev Dr. Dayo Kufeji; Bishop Jacob Ibikunle; Synod Secretary, Very Rev Oladapo Daramola, during the Synod Thanksgiving Service of the Metropolitan Diocese of Ikeja held at Elliot Memorial Methodist Church, Iju, Lagos… recently

2023: Atiku Woos Lagos PDP Delegates, Charges Party Leaders to Restore National Unity Following his recent declaration to contest for the president of Nigeria in the 2023 elections, former vice-president Atiku Abubakar met with delegates of the Peoples Democratic Party (PDP) in Lagos State last Friday to seek their support.

Amid cheers and chants of solidarity, Atiku addressed the party faithful, including present and former Lagos State PDP Chairmen, local government Area Chairmen, Youth Leaders, and members of the State Working Committee. While reiterating his promise of 40 per cent youth and women representation in his cabinet, the former vice president expressed his desire to restore a sense of belonging to marginalised Nigerians.

Decrying the state of governance in the nation, he urged the party faithful in Lagos to make the right choice during the 2023 primary election of the party by supporting the most experienced and competent presidential contender with a proven track record of leadership, especially in the areas of security, the economy, and infrastructural development.

Addressing the youths, Atiku said, “Even during the Civil War, it’s never been this bad. Now, more than ever, we are so divided, because people across this country have been treated unfairly under the current administration.

“This country has never seen the level of insecurity that we are facing today. I am here because I have the requisite experience

to govern this country well and equitably, to give everyone a sense of belonging. I am here to appeal to your conscience; you have a historic responsibility to bail out this country.”

The former vice president, who presented letters of appeal to each delegate, counselled the youth leaders to seek the progress of the nation and shun aspirants offering to buy their votes.

“If another aspirant gives you money, take it. But do the right thing for the sake of your own future,” Atiku stated.

In his opening remarks, the incumbent Lagos PDP Chairman, Mr. Philip Aivoji, welcomed the PDP presidential aspirant and called on the state delegates to ensure the party wins at levels during the forthcoming elections.

“I’m glad to receive our presidential candidate. He remains our candidate until we have another congress. All the LGA Chairmen and I are here together as one body. In 2023,

by God’s grace, PDP will win all elections, from presidential, House of Representatives, and Senate to governorship and state assembly. In Lagos, everything will be won by the PDP,” Aivoji said.

A former Minister of Cooperation and Integration in Africa, Dr. Abimbola Ogunkelu, in his welcome address, highlighted the track record of the former Vice President, adding that Nigerians have all they need to galvanise their

institutional processes and fight their problems.

Speaking to Atiku, he said, “Sir, you have your work cut out for you. We have problems with our security and economy.

With economic transformation, the issue of power, insecurity, and the like will be solved.

“With you as president, most of the country’s problems will be taken care of; many people will sleep peacefully and many

who have left Nigeria will return home. We have one job to do and that is to make sure you are elected president.”

Another PDP chieftain in Lagos, Olumide Thompson, expressed the support of the youth, whom he said represents 70 per cent of the population.

Other party leaders in attendance included former Lagos PDP Chairmen, Alhaji Muritala Ashorobi and Captain

Tunji Shelle; PDP Board of Trustees Member Emeritus, Chief Mrs. Aduke Maina; former Deputy Governor of Lagos State, Chief Mrs. Kofoworola AkereleBucknor; Member of House of Representatives for Ojo Federal Constituency, Hon. Adekunle Obasa; Member of the House of Representatives for Amuwo Odofin Federal Constituency, Hon. Oghene Egoh.

Others were former Member,

State Caretaker Committee, Mrs. Bisi Odunsi; former PDP Women Leaders, Alhaja Atinuke Babs-Olorunkemi and Chief Mrs. Onikepo Oshodi; Alhaji Tanwa Olunsi; Hon. Wahab Owokoniran; Evang. Israel Ogunrinde; Former State Youth Leader, Hon. Niyi Adams; Sen. Sumbo Onitiri; Hon. Tolani Animashaun; Alhaji Nurudeen Lawal; Sen. Dino Melaye; and Chief Raymond Dokpesi.

Kaigama: We Must Do Something to Stop Hunger, Insecurity Now Onyebuchi Ezigbo The Catholic Archbishop of the Abuja Archdiocese, Most Rev. Ignatius Kaigama has tasked Nigerian leaders to take urgent measures towards implementing policies that would eliminate hunger and insecurity in the land.

Speaking at the closing ceremony of a week-long conference of Catholic bishops from West Africa held in Abuja, Kaigama said a lot of promises and policy statements had been made by government and leaders, but without concrete action to back them up.

He advised politicians to stop making empty promises to the people now that election was around the corner.

"The problems confronting the sub-region have not diminished, they are still there and we need to tackle them with determination.

"That is why we ask our politicians not to stop at talking.

They talk and promise a lot but with no concrete effort to eliminate the hunger, insecurity and diseases that we suffer from.

We must go from mere talk to action. Religious leaders should also do something concrete," he said.

Kaigama who played host to the visiting bishops, also used the opportunity to call for renewed efforts at promoting peace and unity among nations.

"We need to promote brotherhood and sisterhood in our region and among humanity. We had very fruitful deliberations, it’s not just about talks, but implementation, now it’s the time to go back home and promote brotherhood and sisterhood among our people, we need to do something serious about the differences, prejudices and stereotypes that divide us, we will work together with the government to give the best to our people," he said.

Earlier, in a communiqué issued at the end of the 4th General Assembly of the Reunion of Episcopal Conferences of West Africa (RECOWA) held at the Catholic Secretariat Resource Centre, Durumi in Abuja, the bishops said there was need to work together, with like minds in politics, religion, economics, social life, the media, to fight against all forms of man ‘s inhumanity to man.

"We strongly denounce the policies and practices of our governments and leaders who facilitate and permit the exploitation and marginalisation of our people and endanger the future of our children.

"Tragically some individuals engaged in acts of violence and terrorism have aggravated the state of insecurity in our subregion. We call on all never to grow weary in denouncing and rooting out such evils in our midst," they said.

In the communiqué, the Bishops called on politicians, other leaders to recline from their never-ending craving for self-aggrandisement and acquisition of wealth.

"Our people are hungry, dehumanised and suffering; our youth exposed to life-threatening adventures on the high seas in their bid to discover greener pastures in overseas countries.

We are called upon to give hope to these people," they said.

As part of their engagement, the bishop also elected new leaders of the reunion for the next three years.

Most Reverend Alexis Touabli Youlou, Diocese of Agboville, Cote D‘ivoire emerged the new President of (RECOWA), while Most Reverend Joseph Kwaku Afrifah-Agyekum, bishop of Koforidua, was elected first vice President and Most Reverend José Lampra CA , Bissau, become the second vice President.

Military to Add More Fighting Platforms in War against Insurgents Kingsley Nwezeh in Abuja The Nigerian Army has added more fighting platforms to strengthen soldiers waging war against insurgents in the North-East and other parts of the country, says the Chief of Army Staff (COAS), Lt Gen Faruk Yahaya.

The army chief stated this at the weekend, urging war commanders to remain professional in discharging

their constitutional roles.

Recently, the federal government announced procuring armoured tanks and other weapons to prosecute the war against terrorism.

The army chief gave the charge while delivering a lecture, 'My Vision for the Nigerian Army' at AWCN, Asokoro, Abuja.

Yahaya, who spoke to participants of the Army War College Nigeria(AWCN)

Course 6/2022, stated "that more platforms will soon be injected into various theatres of operations," commending the Ministry of Defence for overhauling some equipment.

He expressed optimism that "these efforts will no doubt inject more vigour into the ongoing campaign against insurgency and other security challenges confronting the nation."

Yahaya said the army, under his watch, would continue to

build personnel capacity by placing a premium on the training of officers and soldiers.

The army chief noted that the timely rotation of troops and other welfare packages in various theatres of operations was implemented to boost troops' morale.

During an interactive session with the participants, he stated that the platform provided an opportunity for him to share his thoughts on contemporary

issues and listen to their views and lessons learnt during their course at the apex army college.

He pointed out that the lecture and interactive session would enhance the requisite knowledge required for operational level commanders of the army to discharge assigned tasks effectively.

He asserted that the efforts would inject more vigour into the ongoing campaign against insurgency and other security

challenges confronting the nation.

Yahaya also affirmed that regimental sergeant majors (RSMs) of army formations and units were motivated to discharge their traditional roles of maintaining discipline and regimentation.

He said the feat was achieved by building official residences and issuing brand new Hilux vans to provide a conducive working environment and ease of movement for RSMs.

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NEWS

NDLEA Arrests Two Pregnant Women, Barber for Drug Trafficking Michael Olugbode in Abuja Two pregnant women are among drug traffickers arrested by operatives of the National Drug Law Enforcement Agency (NDLEA), at the Murtala Muhammed International Airport, Lagos for attempting to import and export illicit drugs through the airport last week.

According to a statement yesterday by the spokesman of NDLEA, Femi Babafemi, the first to be caught by the agency’s dragnet is a Brazilian returnee, Nworie Chikwendu, who was arrested last Tuesday during an inward clearance of passengers on Qatar Airways flight from Sao Paulo, Brazil enroute Doha to Lagos.

Babafemi said during a thorough search of his luggage, two parcels of cocaine were discovered concealed in a pair of brown slippers hidden in his oxblood backpack and during a further search of the pair of black slippers worn by the suspect also led to the recovery of additional two parcels of cocaine built into the soles of his foot wears, bringing the total to four parcels weighing 800 grammes.

He disclosed that while undergoing preliminary inter-

rogation, Nworie, who claimed to be a barber in Sao Paulo, said he came to Nigeria for the burial of his father.

He confessed to trafficking the drugs because his trip was sponsored by his Brazil-based friend who gave him the drug

to deliver in Lagos for a fee of N2 million.

The spokesman also said last Wednesday NDLEA operatives at the SAHCO export shed of the airport intercepted some cartons of alcoholic drinks suspected

to contain illicit drugs.

He disclosed that a freight agent who brought the consignment for export to Dubai, UAE, Shola Ogunrinde, was immediately arrested while a follow-up operation led to the arrest of a pregnant

woman, Mrs. Seun Babatunde, who operates an alcohol joint in Pleasure area of Iyana Ipaja.

He said when the cartons were opened in the presence of the agent and the pregnant woman, seven parcels of cannabis and a sachet of

ecstasy drug (MDMA) were found concealed inside cans of Black Bullet alcoholic drinks.

He said in her confession, Babatunde claimed the drugs were being sent to her husband who lives in Dubai.

HAPPY BIRTHDAY TO GANI ADAMS…

L-R: Former Peoples Democratic Party (PDP) Governorship Aspirant, Lagos, Mr. Jimi Agbaje; Chairman of Alaroye Group, Alao Agbedegbeyo; Chief Lekan Alabi; Are Onokankafo of Yoruba Land, Iba Gani Adams with his wife Modupe Adams, during the 52nd birthday of Gani Adams in Lagos....yesterday

Ganduje Endorses Deputy, Military Pensions Board: Civil War Veterans not Qualified for Pension Gawuna, as Successor Kingsley Nwezeh in Abuja

Ibrahim Shuaibu in Kano Kano State Deputy Governor, Nasiru Yusuf Gawuna has been anointed as the preferred choice of the All Progressives Congress (APC) for the 2023 governorship election.

The stakeholders of the All Progressives Congress (APC) made their choice at a meeting which Governor Abdullahi Ganduje presided over.

The stakeholders were also said to have agreed that the former Commissioner for Local Government and Chieftaincy Affairs, Murtala Sule Garo,

should be the running mate to Gawuna in the election.

The stakeholders unanimously agreed that the deputy governor is to succeed Ganduje at the 2023 general elections.

Mr Garo, who is believed to have the control of the party structure at the local government level, was seen as the preferred candidate of the wife of the governor, Hafsat Ganduje.

The incumbent governor had served as the deputy of Senator Rabiu Kwankwaso during the two terms he governed Kano.

Ladipo Residents Accuse Sanwo-Olu’s Aide of Land-grabbing Ayodeji Ake The Apena family has called out Special Adviser on Transportation to Governor Babajide Sanwo-Olu, Mr. Oluwatoyin Fayinka, over a land-grabbing allegation in the Ladipo axis of Lagos State.

Fayinka has been accused of plotting to encroach into the Apena family’s compound after the demolition of 16 shops erected in front of the building recently.

Speaking with THISDAY, aged Alhaji Rahman Apena, the landlord, lamented that some

people have been disturbing and harassing him that his house had been allocated by the Lagos state government as part of the Ladipo Mechanic Village He said: “I have been on this land as far back as 1966. I have been staying on the land, using it without any hindrances. I bought the land from the original owners of Isolo. They are called the Alabe family. It was when I got here years after the high tension was erected. Recently, they came and demolished my properties of about 16 shops which I erected in 1975.

ASUU Weighs Options as Warning StrikeAlthough Nears End the outcome of their

Onyebuchi Ezigbo in Abuja

The leadership of the Academic Staff Union of Universities (ASUU) is considering whether to discontinue it’s three month old roll-over warning strike or to suspend it.

The union held a meeting of the National Executive Council (NEC) in Abuja on Sunday to assess the situation.

meeting was not made known to the public as at last night, THISDAY learnt that ASUU is hoping to extract further commitment from government on the issue of approval for it’s choice salary payment platform, University Transparency and Accountability Solution (UTAS) and improved conditions of service before proposing to it’s members to call off the strike.

The Military Pensions Board (PMB) said at the weekend that some civil war veterans were not qualified for pension on the ground that they had not worked for 15 years as contained in the Pension Act. But the veterans under the aegis of First Intake Able Voluntary Retired or Discharged Ten or More Years in Military Service, lamented their exclusion

from pension payment by the board, stating that all efforts to get them captured in the board’s payment schedule was unsuccessful.

The board said the veterans, who fought on the side of the Nigerian government during the civil war were not entitled to monthly military pension.

However, veterans, recently accused the federal government of not paying their entitlements since they left the military over

43 years ago.

Speaking in Abuja, Spokesman of the Nigerian Military Pensions Board, Flight Lt Olayinka Lawal, said the retired soldiers did not serve up to the 15 years as stipulated by the Pensions Act and the Harmonised Terms and Conditions of Service for the Armed Forces of Nigeria to qualify for what they were demanding.

“The Military Pensions Board seeks to use this medium

to respond and correct the allegation by a group called First Intake Able Voluntary Retired or Discharged Ten or More Years Military Service.

“The group claimed that the board has failed to include them on the pension payroll since they were discharged from the Armed Forces of Nigeria 44 years ago. This is outright misinformation and should be disregarded by the public”, he said.

Ikpeazu Denies Taking $300m Loan from AfDB Emmanuel Ugwu-Nwogo in Umuahia The Governor of Abia State, Dr. Okezie Ikpeazu, has faulted claims by a governorship aspirant that linked his administration to a $300 million loan facility from the African Development Bank (AfDB), saying that no such loan was ever secured by the state government under his

administration.

Mr. Ncheta Omerekpe, an aspirant on the platform of the Peoples Democratic Party (PDP), has caused a storm in Abia State following a viral video in which he alleged that he personally facilitated the said AfDB loan for the Ikpeazu led administration when he “ran to me” for help.

But Ikpeazu, through his press secretary, Mr. Onyebuchi

Ememanka, has described Omerekpe’s allegation as “very ridiculous, irresponsible and extremely outlandish,” adding that there was no truth whatsoever in the alleged AfDB loan deal.

Ememanka said: “For the avoidance of doubt, let it be made abundantly clear that as at today, the Abia State Government has not accessed

any loan of $300 million or any amount whatsoever from the African Development Bank.

Not a penny! Not a single dime!”

He attributed such attack on the person of Governor Ikpeazu and his administration to the election season, adding that Omerekpe lacked capacity to facilitate a loan deal of such magnitude locally, let alone from an international finance institution.

Lawan: Why 9th National Assembly Won’t Fight Buhari

Sunday Aborisade in Abuja

President of the Senate, Ahmad Lawan, has for the umpteenth time, insisted that the 9th National Assembly would not engage in any friction with the President Muhammadu Buhari-led executive arm of government, because the strength of the current legislature

was in its ability to conquer most complex and critical legislations that had either defied passage or assent.

The Senate President, according to a statement by his media aide, Ola Awoniyi, in Abuja on Sunday, spoke on Saturday night in Lagos while receiving The Sun Political Icon of the Year 2021 Award.

“Therefore, we believe that the legislature and the executive arms of government must always work together. They can disagree but not to cause friction to such an extent that citizens will not receive the services from government.

“For us, in the Ninth National Assembly, we believe that service to our fatherland, service

to our people, service to different senatorial districts and federal constituencies is paramount and there is nothing more than that.

“Thank God, in less than three years, the Ninth National Assembly has done tremendously well in the area of important, critical and crucial legislations for national development.

Enugu 2023: Journalists Warn PDP against Undermining Justice, Equity, Fairness Ejiofor Alike Nsukka Journalists Foundation (NJF) in Enugu State has warned the ruling Peoples Democratic Party (PDP) in the state against undermining justice, equity and fairness in the selection of their flag bearers in the state.

In a statement signed by the Chairman and Secretary

of the Foundation’s Board of Trustees (BOT), Messers Ike Abonyi and Paul Odenyi and the acting Chairman and Secretary of the foundation, Mrs. Amaka Nnaji~Ukwaba and Brendan Eze respectively, the Non-governmental Organisation (NGO) frowned at what it described as the devious moves to resurrect the dreaded Ebeano

politics in the state.

The NGO in their statement titled, “Enugu State Governorship Race: We demand justice for Isi Uzo” aligned itself with the call for the retention of the existing zoning formula in the state which zones the gubernatorial ticket to Enugu East in 2023.

It, however, noted the ongoing

dangerous scheming to deny Isi Uzo Local Government Area of any of the five key positions available for the zone - Governor, Senator and five House of Representatives members.

The group noted that it has monitored closely the political scheming in the state ahead of 2023 general election.

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Uzodimma Urges APC, PDP to Pick Presidential Candidates from South-east Goddy Egene and Dike Onwuamaeze

The Governor of Imo State, Mr. Hope Uzodimma, has tasked the All Progressive Congress

(APC) and the Peoples’ Democratic Party (PDP), which are the two major political parties in Nigeria, to pick their presidential candidates for the oncoming 2023 presidential

Garbage Takes over Streets of Port Harcourt Blessing Ibunge in Port Harcourt Port Harcourt, the capital and heart of Rivers State, which was once described as a garden city with its quality of cleanliness and well arranged plots of buildings, has now turned into a garbage city.

THISDAY observed that for over a week now, disposed refuses have littered most streets of the once beautiful city.

It was gathered that the city took a bad shape following the sacking of the Sole Administrator of Rivers State Waste Management Agency (RIWAMA) Felix Obuah by Governor Nyesom Wike. THISDAY further gathered that the sack could be connected to Obuah’s declaration and screening for governorship seat ahead of the 2023 guber election in the state.

Obuah was amongst the aspirants recently, screened

by the Governor Douye Diri’s led Peoples Democratic Party (PDP) Governorship Screening Committee for South-south.

It would be recalled that on April 29, 2022, the state government had declared the termination of Obuah’s appointment as RIWAMA --boss and directed the Chairmen of Port Harcourt and Obio/Akpor to ensure the cleanliness of the environment.

The statement claimed that the sack, which also affected all private contractors, was because of their inability to perform their duty in the cleaning of the environment.

According to the statement as signed by Kelvin Ebiri, “l, Special Assistant on Media to Governor Wike, declared “The Rivers State government hereby announces the termination of its contract with all private waste contractors effective from 29 April, 2022.

election from the South-east geopolitical zone.

Uzodimma said that this would decentralise powersharing in the country in a manner that would ensure inclusiveness, justice and equity.

He gave this task yesterday during an interactive session with journalists in Lagos .

The governor said that by choosing their respective presidential candidates from the South-east, the PDP and the APC would have completed the circle that started in 1999

Khamisu Ahmad Mailantarki who was President Muhammadu Buhari’s returning officer during the 2019 elections in Gombe State has resigned his membership of the ruling All Progressives Congress (APC).

Mailantarki announced his resignation in a letter addressed to the APC Chairman of his Herwagana Ward of Gombe Local Government Area, a copy of which was made available to THISDAY yesterday.

He was a founding member of the defunct Congress for Progressive Change (CPC) in Gombe State who won the House of Representative seat for Gombe/Kwami/Funakaye federal constituency in 2011, with a massive 122,987 votes, which was the highest winning

votes then.

He had contested and won again in 2015, but was removed by the Supreme Court, which had declared Yaya Bauchi Tongo as authentic winner of the APC primary election of the Gombe/ Kwami/Funakaye Federal Constituency.

He had also participated in the 2019 APC governorship primary election along with Muhammadu Inuwa Yahaya who won the primary election then and later emerged victorious in the governorship election.

The letter read, “With gratitude to the Almighty Allah, I hereby wish to notify you of my decision to resign my membership of the All Progressives Congress (APC).

“I thank you and the entire membership of the party for your support while my

The Concerned Anambra North Peoples Democratic Party(PDP) Stakeholders has asked the National Chairman of the party to order a former Minister of Aviation, Stella Oduah to produce her National Youth Service Corps (NYSC) certificate or be disqualified from participating in the party’s primary for Anambra North Senatorial election.

The group, in a petition to the party’s national chairman, Iyorchia Ayu, said Oduah should be disqualified for presenting doubtful documents and credentials all of which they said were in the custody

membership lasted.”

Confirming his resignation to THISDAY, Mailantarki said his decision was for the best interest of the state and his political future adding that, he would not, otherwise, have left the house he built with passion.

“As the only member elected under the Congress for Progressives Change (CPC), I personally funded the entire process of merger in Gombe state and I was the returning officer of President Buhari’s election in 2019 in the state.

“Even after the Guber primaries in the state, we supported President Buhari and Gov Inuwa Yahaya and made sure APC won to an extent that we converted Gombe State from fully PDP to a fully APC state,” The former lawmaker added.

Group Demands Setting up of Agro-based Industries to Create Massive Jobs in Edo Adibe Emenyonu in Benin-city A socio-cultural group, Esan Okpa Initiative (EOI), has strongly called for guidelines to regulate the recruitment and behaviour of Esan politicians in Edo State with a view to ensuring that only leaders with genuine commitment to the interests of the people are thrusted to lead them.

Presenting a welcome address to the two-day hybrid Esan Assembly held in Uromi, Esan North Esan Local Government Area of the state at the weekend under the aegis of EOI with the theme: ‘Development of Esanland and Its People: Confronting the Challenges of Our Time’,

the organisation President, Mr. Mathew Egbadon, said this was important in order to stimulate the process of development and transformation of Esanland.

While hinging the political travails of Esanland to “the lack of unity, lack of effective, transparent and selfless political leadership in Esanland today, that has contributed largely to our current state of near political irrelevance,” he said, slamming most of the current “political leaders” in Esan land for being too preoccupied with their quest to pick the “crumbs at their political masters’ table,” rather than think of the collective interest of the Esan people.

parties in several political zones to work with us.

“But, in 1999, after the annulment of June 12, 1993, presidential election, it was the decision of the national leadership of Nigerian political parties to allow the South-west to produce the president to cool the temperature.

“Now the situation is repeating itself. There is a national sympathy for the South-east to produce Nigeria’s president. What will make it work is for the two major political parties to produce their

presidential candidates from the South-east geopolitical zone.

That way we will decentralise this power-sharing in a manner that will become all-inclusive and justice and equity would have been seen to be done.”

Uzodimma also used the occasion to state unequivocally that South-east governors are united in matters affecting the security in the zone, adding that opposition politicians who could not stomach their defeat are behind the wave of insecurity in the region, particularly in Imo State.

Order Oduah to Produce Her NYSC Certificate, Groups Urges PDP

Buhari’s 2019 Returning Officer in Gombe State Quits APC

Segun Awofadeji in Gombe

when the two dominant political parties at the time, namely the PDP and APC/ Alliance for Democracy picked their presidential candidates from South-west to compensate the zone for the annulled 1993 presidential election that was won by late Chief Moshood Abiola, who hailed from the South-west.

He said: “I know that in the South-east today, we are in a strong hunger to produce the next president of Nigeria.

But we cannot do it alone and needs other members of the

“They are concerned more about how to win the next election for themselves or their favourite candidates than the collective interest of the present and next generation of Esan people-which should be our common concern and priority. Esan leaders must provide guidelines to regulate the recruitment and behaviour of our Esan politicians,” he added.

He, therefore, proposed that “violators of the guidelines should be visited with collective sanctions and opprobrium,” expressing the readiness of EOI “to offer a template on this guidelines if the assembly approve this proposal.”

of the Independent National Electoral Commission(INEC) and the public domain.

They attached to the petition INEC Form C.F. 001 in where Oduah claimed she had lost her NYSC certificate. It was on the basis of this claim that she was elected into the Senate The stakeholders said these documents and credentials having now been subjected to verification were found to be doubtful or non-existence.

In 2014, Oduah deposed to an affidavit and obtained a police extract (both documents attached to the petition) where she stated that she obtained a

First School Leaving Certificate from St John Odoakpu, Onitsha.

“However, upon an enquiry to the Ministry of Basic Education, Anambra State in 2019, it was discovered from their response that Senator Oduah was never among the pupils that sat for FSLC in 1973 in the Old East Central State of which the present Anambra State was part of.

Thus, her claims of obtaining FSLC in 1973 are false and misleading”, the stakeholders said. They attached a Certified True Copy of list of pupils who sat for the exams in 1973.

In the same affidavit and police extract submitted to INEC by Oduah, she also claimed to have participated in the National Youth Service NYSC scheme in 1983 and that she lost the discharge certificate issued to her by the NYSC. However, instead of applying to the NYSC headquarters for a letter of confirmation indicating her NYSC number and the year she did the service, she submitted a letter from Nigeria Employers Consultative Association purportedly confirming that she participated in NYSC.

MONDAY, MAY 9, 2022 • T H I S D AY

54

BACKPAGE CONTINUATION 2023, BUHARI AND THE SUCCESSION BATTLE every presidential request. The Nigerian Governors Forum (NGF) has been very supportive, and individually, almost every state governor, even in the opposition People’s democratic Party (PDP), has been playing the good boy to the president. Not even disruptive protests by civil society have been directly proportional to the administration’s general lack of direction.

In a Channels TV interview earlier in the year, Buhari had, in a blank stare, dismissively said that the 2023 election was not his problem. Yet some governors of the ruling party have been quoted as saying the president would decide or guide the party in deciding the candidate for the top job. Indeed, there has been a whispering campaign that Buhari’s endorsement would determine who picks the APC presidential ticket at the end of the day. Consequently, a swirl of speculation has followed not one or two among those who have bought, or have had bought for them, the party’s presidential nomination forms as Buhari’s joker. It would be interesting to see how a presidential endorsement for one person on the growing list of aspirants would not end up a problem. Or wasn’t Buhari in that interview simply waving a political sleight of hand, having a dissimulation of sorts behind the blank stare?

Isn’t it curious that the APC would sell its presidential nomination forms at N100 million and Buhari, who in 2014 claimed to have taken a bank loan to procure the same forms, would as president and party supremo find this comfortable? Is there a hidden catch somewhere? Why would former House Speaker Dimeji Bankole, a man who didn’t have enough delegates to pick the governorship ticket of Ogun State in 2014, decide to waste N100 million to buy the nomination forms for a ticket he knew he may not even have the vote of a single delegate from his state? Why would the APC collect the nomination fees from two different coalitions who have made it their self-assigned duties to co-opt CBN (Central bank of Nigeria) Governor Godwin Emefiele and ADB (Africa Development Bank) President Akinwumi Adesina into the presidential contest when both are evidently not party members? In accepting payment for forms in the name

Buhari

of Emefiele and Adesina, isn’t the APC implying that both are closet members of the party? Or did the party simply collect the payment on false pretence? How would five ministers in the administration resort to similar narrative, claiming that a group of friends or associates or supporters paid for the forms?

Or is this ongoing charade simply a grand scheme to, like a colleague argued, launder money into APC to fund the party’s campaigns? Part V, Sections 75-97 of the Electoral Act 2022 focuses, among others, on the registration, structure, management, monitoring, funding, campaigns and election expenses of political parties. The Act demands transparency on source of funds, limits campaign donations, puts a cap on election expenses, and prescribes sanctions for infractions. Section 87.1 empowers the Independent National Electoral Commission (INEC) thus: “The Commission shall have power to place limitation on the amount of money

or other assets which an individual can contribute to a political party or candidate and to demand such information on the amount donated and source of the funds.”

On campaign donations from individuals and corporates, Section 88.8 states that, “No individual or other entity shall donate to a candidate more than N50,000,000.”

Moving from the general to the specific on election expenses, Section 88.2 states, “The maximum election expenses to be incurred by a candidate at a presidential election shall not exceed N5,000,000.” In respect of a political party, Section 89.2 adds, “Election expenses incurred by a political party for the management, or the conduct of an election shall be determined by the Commission in consultation with the political parties.”

With this Act, it is impossible as it was in previous elections for a candidate or party to arm-twist top businessmen and their usually faceless friends to donate billions at campaign fundraisers. Was that the challenge APC

wanted to side-track by unduly jacking up the nomination fees to different offices and encouraging the mushrooming of aspirants?

Isn’t it possible that some senators and ministers and former governors and some other endorsement-seeking public officials got their business fronts and government contractors in the guise of one coalition, or one group, or the other to procure their forms? Isn’t the deluge of presidential aspirants on the ruling party’s platform not some dubiously clever way of infringing on the provisions of the Electoral Act 2022 without necessarily breaking the law; or to use a football language, committing a technical foul on an opponent to escape referee sanction?

With the APC game of brinkmanship, why would the preponderance of those ministers pretending to be in the race for the party’s presidential ticket care to resign?

And why would Buhari force their hands to so do? Didn’t he say the 2023 election was not his problem?

governors is that they were also ministers, many of them still serving. Fayemi, Wike, Onu, Amaechi, Bala, Ngige and Akpabio have all been ministers as well as governors.

It is a rich political CV, but is that all there is to it?

Holding prominent posts alone does not make one suitable for higher office. He must at least prove that he did justice to the posts he held, and also prove that he has a thoughtful program for future action. When George Bush Senior once touted the offices he held, including Congressman, Ambassador to China, CIA Director, Republican National Committee Chairman and Vice President as qualifying him for US President, his opponents said he had been everywhere but had not left his footprints anywhere.

Those who are touting rich political CVs in this race, could you kindly pause for a minute and present to us your program for the future? If it is CV, no one in Nigeria can beat Olusegun Obasanjo, an Army General, war commander, Minister of Works, Chief of Staff Supreme Headquarters, military Head of State, member of Commonwealth Eminent Persons Group, aspirant for UN Secretary

General and political prisoner. The only other Nigerian CV that approaches that is Muhammadu Buhari’s, Army General, war commander, military governor, Petroleum Minister, GOC of 3 Armoured Division, military Head of State, political detainee, Chairman of PTF and five-time presidential candidate under three different political parties. I have seen documents outlining the programs of three presidential aspirants, namely Osinbajo, Saraki and Fayemi. From one PDP aspirant, we have seen a flood of videos, chants, boasts and dances.

At the weekend, the most engaging issue in national politics was the controversy swirling another “governor,” this time Central Bank of Nigeria [CBN] Governor Godwin Emefiele. [During our secondary school days, a popular quiz question was, Who is the Governor without a state?]

N100million was paid last week to collect a presidential nomination form for Emefiele.

It quickly generated a storm, with Ondo State Governor Rotimi Akeredolu, Sokoto State Governor Aminu Tambuwal, PDP’s national publicity secretary and many NGOs saying Emefiele must resign from CBN.

Even though many serving ministers who have picked presidential and governorship nomination forms have so far refused to resign as mandated by the amended Electoral Act, the reported picking of forms for the CBN governor somehow elicited more controversy. He is not a civil servant; under the CBN Act, he is a public servant much like ministers and governors who is expected to devote himself solely to his CBN duties.

Emefiele issued a statement at the weekend that raised more questions than answers.

He rejected the forms bought on his behalf by farmers [supposedly beneficiaries of Anchor Borrowers Program]. He said he will decide within days whether to enter the race and buy the forms with his own money, having been a top banker for 35 years. He was consulting with God first, Emefiele said. All the other aspirants that ran around the country consulting with Obas and statesmen, they missed the Biggest One. As everyone quickly noted, Emefiele’s statement was not a firm rejection of the presidential race. It was nowhere near what US President Lyndon Johnson said in 1968, when he dropped out of the presidential race because anti-Vietnam War protesters made it virtually impossible for him to campaign. In a televised address he said, “I shall not seek, and I will not accept, the nomination of my party for another term as your president.”

INEC Chairman Prof Mahmood Yakubu’s denial came closer to that. The NGO HURIWA mischievously suggested at the weekend that in the light of the CBN Governor’s purchase of form, it will not be surprised if someone buys an APC form for the INEC boss. The chairman’s press secretary Rotimi Oyekanmi said in a statement, “It is a preposterous proposition. It will not happen.” That was firmer than saying he was communing with God. Oyekanmi, edit that script and replace the word will with shall.

FOOTPRINTS WITHOUT IMPRINTS there are twenty-one serving and former governors, in at least three parties, among the aspirants jostling to succeed to the presidency next year. Serving APC governors in the race include Kayode Fayemi of Ekiti, Muhammad Badaru Abubakar of Jigawa, David Umahi of Ebonyi and Yahaya Bello of Kogi State.

Former governors in the APC race include Asiwaju Bola Tinubu of Lagos, Godswill Akpabio of Akwa Ibom, Rochas Okorocha of Imo, Ibikunle Amosun of Ogun, Chris Ngige of Anambra, Ogbonaya Onu of old Abia State, Rotimi Amaechi of Rivers, Ahmad Sani, Yariman Bakura of Zamfara and Orji Uzor Kalu of Abia, who said he was quitting the race. It was reported at the weekend that former Lagos State Governor Akinwuni Ambode waded into the race. Crowning it all in APC is the sitting Vice President, Yemi Osinbajo. One other paper claimed that Africa Development Bank President Akinwumi Adesina had bought the APC form.

In PDP, serving governors in the presidential race include Nyesom Wike of Rivers, Udom Emmanuel of Akwa Ibom, Aminu Waziri Tambuwal of Sokoto and Bala Mohammed of Bauchi. Former governors in the PDP race are Bukola Saraki of Kwara, a former Senate President; Peter Obi of Anambra and Ayo Fayose of Ekiti. Atiku Abubakar, a former Vice President who was once elected Governor of Adamawa State but abandoned the post for a higher one, rounds up the PDP tally. Former Governor Rabi’u Kwankwaso of Kano is in the race under NNPP. There is an indication in Nigerian politics that the premier qualification for being president is to be a state governor, current or former. Maybe that is because, of the four people who have been Presidents of Nigeria in this Republic, two [Umaru Yar’adua and Goodluck Jonathan] were former civilian governors while one [Muhammadu Buhari] was a former military governor. The icing on the political cake for some of these former

Emefiele issued a statement at the weekend that raised more questions than answers. He rejected the forms bought on his behalf by farmers [supposedly beneficiaries of Anchor Borrowers Program]. He said he will decide within days whether to enter the race and buy the forms with his own money, having been a top banker for 35 years. He was consulting with God first

55

MONDAY, ΁˜ ͺ͸ͺͺ ˾ T H I S D AY

MONDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Iwobi Fires Assist as Everton Boost Survival with Win at Leicester

Duro Ikhazuagbe with agency report

Nigerian international, Alex Iwobi, gave an assist that ensured Everton defeated Leicester City 2-1 to ensure victory for the hosts at King Power Stadium yesterday.

In the sixth minute of the game, the Super Eagles midfielder flicked the cross to

PREMIER LEAGUE

Vitaliy Mykolenko which he volleyed into Leicester’s net for the opening goal of the afternoon.

But five minutes later, Patson Daka cancelled out the advantage as Leicester cashed on a defensive mix-up between Yerry Mina

and Seamus Coleman for the equaliser.

And on the half-hour mark, Mason Holgate, nodded home to restore Everton’s advantage after Kasper Schmeichel could only parry Richarlison’s header from a Demarai Gray corner.

For the record, Iwobi, who was in action for 90 minutes in the game, has made 24 league appearances for Everton this season, with two goals to his credit.

The victory moved Everton out of the drop zone to 16th on the log with 35 points from 34 games. Leicester are 14th on 42 points.

With Wilfred Ndidi still out injured, Kelechi Iheanacho and Ademola Lookman featured for Leicester City. While Iheanacho

was in action for 90 minutes, Lookman came on as sub for Daka 10 minutes from regulation time.

Dessers’ Brace Deny PSV Chance to Close up Gap with Ajax A brace by Cyriel Dessers for Feyenoord prevented PSV from closing the gap with Ajax at the top of the Dutch Eredivisie yesterday.

Feyenoord held PSV Eindhoven to a 2-2 draw in their Eredivisieclash on Sunday.

Dessers powered dramatic comeback kept Feyenoord unbeaten for the fifth consecutive game as PSV missed their chance to reignite their title hopes.

PSV started the game as the dominant side, taking control of the possession early on.

The Boeren opened the scoring through Cody Gakpo, with the Dutchman completing his brace in the 29th minute. The guests had a few more opportunities to increase their lead in the first half but couldn’t convert their chances.

Feyenoord showed signs of improvement soon after the

DUTCH EREDIVISIE interval. The hosts increased the pressure on PSV’s backline throughout the second period.

Feyenoord showed signs of improvement soon after the interval. The hosts increased the pressure on PSV’s backline throughout the second period.

However, they had no luck in finding the back of the net until the final minutes of the match.

Cyriel Dessers brought Feyenoord back into the game by making it 2-1 in the 86th minute.

The hosts went all-in with their attacks in the extra-time and finally clinched the equaliser in the 96th minute.

Following a handball inside PSV’s box, the referee awarded the hosts a penalty, which was converted by Dessers to seal his brace.

Alex Iwobi (right) celebrating Everton’s winning goal with scorer, Mason Holgate, in the 2-1 defeat of Leicester City ...yesterday

Flying Eagles Beat Ghana’s Black Satellites 2-0 in Niamey Nigeria’s U20 boys, Flying Eagles defeated their Ghanaian counterparts 2-0 in the opening match of Group B of the WAFU B U20 Championship in Niamey on Sunday, scooping all three points and putting a foot in the semi finals of a competition from where the zone’s flagbearers to next year’s Africa U20 Cup of Nations will emerge.

WA F U B U 2 0 C H A M P I O N S H I P S Ibrahim Muhammad put the Nigerians’ noses in front after only six minutes, and the seven –time African champions showed composure, confidence and calmness as they dominated the Black Satellites easily.

Adams Olubi could have made

it 2-0 for Nigeria towards the end of the first half but fluffed his lines after a good team move had carved open the Ghanaian rearguard and left him with the only the goalkeeper to beat.

The Flying Eagles eventually made sure of the three points

AHEAD PARIS 2024 OLYMPICS

NOC Secures High-performance Training for Anyanacho in Germany The Nigeria Olympic Committee (NOC), has intensified its efforts in ensuring Team Nigerian athletes get quality training ahead of the Paris 2024 Olympic Games.

Still basking in the success of ensuring the International Olympics Committee (IOC) captured eight Nigerian athletes in its scholarship scheme ahead of the Games, the NOC has scored yet another goal with Elizabeth Anyanacho.

The Habu Gumel-led NOC has secured the high-performance training for Elizabeth Oluchi Anyanacho , one of the beneficiaries of the International Olympic Committee Scholarship at the Taekwondo Competence Centre (TCC), Friedrichshafen in Germany to boost her preparation and qualification towards Paris 2024.

Soft-spoken Scribe of the NOC, Olabanji Oladapo confirmed the cheery news when he said that the Olympic movement was determined in its role to prepare the best of Nigerian athletes for the Games. It is part of the statutory duties of the NOC to prepare and lead Team Nigeria to the Games based on Olympic values.

The Taekwondo Competence Centre (TCC), Friedrichshafen combines sports-scientific, innovative know-how in theory and practice, research and sports-practical work at the highest level.

"Elizabeth will train under a well-developed training structure which is supervised by world-class coaches and scientific personnel.

This is a pilot programme to aid the development of Taekwondo

in Nigeria", Oladapo noted.

Anyanacho was Nigeria’s sole representative in the Taekwondo event at the Tokyo 2020 Olympic Games, and the first female athlete to represent Nigeria in the martial art sport at the Olympics in 16 years.

The Statistics undergraduate of the Federal University of Technology, Owerri (FUTO), Anyanacho, though lost her fight against a much matured and experienced double Olympic Medalist, Nur Tartar of Turkey, she left lasting impressions that made Taekwando officials dub her the future of Taekwando.

Anyanacho is mentored and coached by Nigeria's Taekwando Olympic medalist and icon, Chika Chukwumerije.

in the second half at the Stade General Seyni Kountché, when substitute Ahmed Abdullahi slotted into the net in the 78th minute after a series of onslaughts left the Ghanaians in disarray.

The three points put Nigeria in pole position to qualify from a group that has only three teams.

The Flying Eagles will play their last match of the group on Wednesday against Burkina Faso.

The result could determine the fate of Cup holders and reigning African champions Ghana, as they would be condemned to defeat the Burkinabes when both teams meet at the same venue on Sunday next week.

Scorer of Nigeria’s first goal, Ibrahim Muhammad was selected as the Man-of-the-Match.

GOAL MACHINE...

Super Eagles-one-cap-player, Cyriel Dessers, restored Feyenoord’s pride again yesterday, coming from two goals down to score the brace that ended the game with PSV Eindhoven 2-2. Dessers has scored 20 goals and six assists in 32 games this season n the Dutch Eredivisie

Zenith Bank Stages Tennis, Swimming Meets in Ikoyi Club One of the biggest sports promoters in the country, Zenith Bank PLC, is set to stage two competitions later this month at the elite social club, Ikoyi Club 1938 in Lagos.

Zenith Bank has been the sole sponsors of national women’s basketball league for close to two decades and also was a partner of the Nigeria Football Federation for many years, staging the youth U-15 fiesta in various parts of the country and also paying the salary of the Super Eagles coach at some point.

The bank is also the sponsors

of the Delta State Headmasters’ Cup and Delta State Principals’ Cup respectively.

On May 14th, the Zenith Bank Swimming competition will take centre stage at the Ikoyi Club while on May 23rd, the outfit will also stage tennis tournament at the elite club.

Group Managing Director of Zenith Bank, Ebenezer Onyeagwu, is excited that the bank’s sports progammes for the year are taking off.

Onyeagwu said: “We are always passionate about our various developmental programmes in

sports sector. There are events we stage in various social clubs to make the club members keep fit and also feel good just as we stage some youthful events in the clubs too to boost the knowledge of the children in sports.

“Other events are still coming up later this year after the swimming and tennis at Ikoyi Club.

We are committed to raise future champions for Nigeria and to also make some stars in the senior level represent the country well at continental and global events like we are doing in national women basketball.”

TR

Monday, May 9, 2022

UT H

& RE A SO

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Price: N250

MISSILE Clark to Motley Presidential Candidates

“You have everybody in Nigeria where there is hunger, where there is lack of employment, where there is kidnapping going on every day, where children cannot go to school, where the economy is going down, these people were able to mobilise N100 million to pick a form. So, if these governors and ministers use their salaries, I don’t think they have it…” – PANDEF Leader, Edwin Clark, condemning the growing number of Presidential aspirants from the South.

MAHMUDJEGA VIEW FROM THE GALLERY

Footprints Without Imprints A ll the men and women who paid tens or hundreds of millions of naira for expression of interest and nomination forms in various political parties in order to run for President, have they paused for a minute and thought about what they are bargaining for?

I thought by now the Nigerian Presidency will be so unattractive that people will have to be begged to come and take it.

Why should anyone be eager to inherit Boko Haram, terrorists, bandits, kidnappers, secessionists, communal warriors, oil thieves, sea pirates, depreciated naira, depleted foreign reserves, high debt service ratio, plummeting oil production, astronomical costs of diesel and aviation fuel, high unemployment, suspension of rail and aviation services, trillions in petrol subsidy, unimplementable Petroleum Industry Act, 13million out of school children, bloated civil service, ASUU strike, impending police strike, exploding illegal refineries, oil spills, River Niger flooding, advancing Sahara desert, shrinking Lake Chad, porous borders, flood of small arms, corruption, fake drugs, fake news, ritual killers, currency counterfeiting, frequent national grid collapse, hikes in

Emefiele

DSTV, telecom and electricity tariffs, Ajaokuta Steel white elephant, partially completed Second Niger bridge, Apapa traffic snarl,

ENIOLABELLO ENI-B

off again on again COVID and fallout of Ukraine war?

Whether all these were caused by “the rot PDP left after 16 years in power” or “the destruction of Nigeria in 8 years of APC rule” is beside the point. Personally, I will not accept this basket Free of Charge, not to mention for N100 million.

Yet, as at Friday, according to one report, 25 people had paid N100m each and purchased APC’s expression of interest and nomination forms. APC’s National Organising Secretary Sulaiman Argungu said as at Thursday last week, 15 aspirants had paid N100m each for presidential nomination forms, 48 aspirants paid N50m each for governorship forms, 241 people paid N20million each for senatorial forms, 821 aspirants paid N10m each for House of Representatives forms while 1,505 aspirants paid N2m each for State House of Assembly forms. There was however a rush on Friday and the numbers increased by leaps and bounds.

APC extended its sale of forms to Tuesday, by which date the number of aspirants for all the positions is expected to rise even further. That only 48 persons had picked its governorship forms was a

eniola.bello@thisdaylive.com

surprise, given that Nigerian politicians are attracted to Government Houses like bees are to nectar. 20 state governors will be completing their second terms next year or soon afterwards. This is an incentive for a lot more aspirants to wade into the race.

In Nigeria, challenging a sitting governor in an election is politically and socially hazardous. Things are a bit easier when the throne is about to become vacant.

At the time PDP closed its receipt of applications, 17 aspirants picked its presidential nomination forms. Two were disqualified by the screening committee led by former Senate President David Mark. The appeals committee upheld the disqualifications. The disqualified aspirants were the least familiar names on the list, so all the heavyweight aspirants are still in the race. Even though PDP’s NEC is set to meet on Wednesday to decide on zoning its presidential ticket, I think the matter is already overtaken by events because it is difficult to tell a person who successfully passed screening that he can no longer contest on account of zoning.

Another curiosity of this moment is that

Continued on page 54

0805 500 1956

2023, Buhari and the Succession Battle

T

o adapt House Leader Alhassan Doguwa’s method of announcing the census result of his immediate family, the ruling All Progressives Congress (APC) has, at the time of writing this, 25 aspirants that have procured the party’s presidential nomination forms at the princely fee of N100 million. Some personally bought the forms, some had the forms bought for them by friends or political associates, and yet some others had the forms procured by groups and coalition of groups. On this (un)enviable list of presidential aspirants are the party’s co-founder, the vice president, five governors, five senators, five ministers, a former Senate president, a former Speaker of the House of Representatives, a former national chairman of the party, a popular pastor who had long self-prophesied himself as No.16 in presidential historical order, and two or three others whose name recognition is nil.

How lucky the APC is! When the party fixed the fees for its presidential nomination forms at N100m, there was a general condemnation, particularly in the

media. Some APC officials made spirited defence of the party’s decision, saying the high nomination fees was meant to discourage unserious aspirants from wasting the party’s time and resources.

The party may as well not have bothered explaining away its decision. The expensive presidential nomination fees didn’t seem to have spared the party from having a deluge of aspirants seeking its ticket for the 2023 elections. At no time in the electoral history of Nigeria have so many aspirants sought the presidential ticket of one party. What is the catch? Why would so many people be aspiring to preside over the affairs of a country so weighed down by general insecurity, huge debts, high unemployment, crippling inflation, and unstable foreign exchange crisis; and on the platform of a party whose administration in the last seven years has collapsed the country, to borrow a popular presidential expression, “from top to bottom”?

Has the Nigerian presidential office now become an all-comer affair? Is it because the performance of President Muhammadu Buhari has been so pathetic that every

Rochas and Ben and Yahaya and Sani now bets at doing a better job; something like, “If Buhari could be president, why can’t I?” Could that be the reason why a couple of the aspirants who are barely known beyond their streets, and who have no hope in hell of getting the vote of a single delegate outside of themselves, also bought the presidential nomination forms? Or is it no more than an investment with profit motif in mind as the party primaries draw close; a game for political visibility; a gamble on being the beneficiary of a likely stalemate between the top aspirants; an expectation of possible Buhari endorsement; a contest for supremacy and positioning in different zones; a hired gun to undermine the prospects of one or two serious contenders; or mere tools for continued domination of one region?

In December 2014, only five aspirants contested the APC presidential primary in which Buhari picked the party ticket. Since his victory in the 2015 general election, through his re-election in 2019, Buhari has in his utterances, actions and appointments shown himself to be more a regionalist than a nationalist. Those he appointed to

oversee some critical ministries like Justice, Defence, Power, Finance, Humanitarian Affairs, Labour and Education are either self-serving or ineffectual or incompetent or overwhelmed. Strangely, the president, who enjoys delegating responsibility but shuns supervision, hardly sanctions his aides and appointees for bad behaviour.

Buhari appears so disinterested in the actions and inactions of his ministers, so unperturbed about the disconnect between his administration and the people, and so scornful of the concerns of a critical segment of the populace on the direction he has taken the country that it wouldn’t be totally out of place to say he’s content in being the president, for its own sake. Yet this president, more than any of his predecessors since 1999, has had every support to be a force for the good of the country. He has had total control of the party, which, without internal opposition, had been run since its formation in 2014, to satisfy his every whim. The National Assembly has, since his re-election in 2019, servilely approved Continued on page 54

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